Skip to Content

ICT YT - 2017-11-19 - ICT On Institutional Price Levels and New Science Of Fib Use.srt

Last modified by Drunk Monkey on 2022-12-22 08:36
1 00:00:16,949 --> 00:00:27,869 ICT: Okay, folks, welcome, welcome, welcome. We're gonna be talking about a couple things that are probably going to challenge your preconceived notions
2 00:00:27,869 --> 00:00:44,819 about some classical analysis concepts that's typically bandied about as the science of technical analysis. And it's my motivation to inspire you to go into
3 00:00:44,819 --> 00:00:57,209 your charts and see if what I'm teaching you here today is what exactly happens just about every single trading day. Just as a reminder, my background is in
4 00:00:57,209 --> 00:01:10,409 computer science and information systems. So I am a byproduct of the computer programming generation. And right now, at the time of this recording, I'm 45
5 00:01:10,439 --> 00:01:25,049 years old. So I've been around a long time. And I've watched the transition from the open outcry, pit trading, to electronic trading. So while many have in the
6 00:01:25,049 --> 00:01:38,699 past, struggled to move and transition from floor trading to all floor trading, I think I've had the advantage of thinking about things from a higher level,
7 00:01:39,179 --> 00:01:49,589 analytical standpoint. And by that, I mean, I'm already accustomed to algorithmic thinking. So while it's not important to teach the concept of
8 00:01:49,589 --> 00:02:00,449 computer programming, to understand what I'm going to show you here, just understand that those that have these experiences, if you've done any work in
9 00:02:00,449 --> 00:02:10,619 computer programming, what I'm going to suggest to you is going to make perfect sense to you and everyone else, probably not so much. But you'll be able to see
10 00:02:10,619 --> 00:02:25,799 it by experience and seeing and charts. Okay. First and foremost, price is not random. And price is not a byproduct of supply and demand either. Most folks
11 00:02:25,799 --> 00:02:37,559 that come into this business will buy into all of the misinformation that comes by way of instruction, books, seminars, teaching this that nothing. And the
12 00:02:37,559 --> 00:02:49,199 first and foremost thing that comes out of their mind is you never really know. And while I'm not preaching 100% accuracy, I am preaching a diametrically
13 00:02:49,199 --> 00:03:03,659 opposed position to what is deemed as classical technical analysis. My belief is, it's not about trend lines. It's not about indicators. It's not about
14 00:03:04,019 --> 00:03:14,879 support and resistance either. So before I go any further into it, just understand that everything I'm teaching you Here is my personal belief. I
15 00:03:14,879 --> 00:03:23,069 started like everyone else. And I started with the ideas that are taught and promoted in books and educators. And I did the same things that anyone else
16 00:03:23,069 --> 00:03:36,029 would do. The problem was, I wasn't profitable with any of it. And I tried very, very hard. And it wasn't until I looked at things with the perspective that if I
17 00:03:36,029 --> 00:03:46,169 were trying to upset the individuals that are trying to do the things that the books say, how would I go about doing that? What I was creating was a
18 00:03:46,169 --> 00:03:56,969 documentation stage of a computer program. Okay, from a systems analyst perspective, okay. I looked at the market as a whole. And if I were to be able
19 00:03:56,969 --> 00:04:09,659 to wrangle, okay, everybody's collective thought process, or at least a majority, to think about a specific direction or a specific level of interest in
20 00:04:09,659 --> 00:04:19,589 price. How would I go about doing that? And how can I do it on a repeating fashion? Because my belief is price is not random. And if you've watched
21 00:04:19,589 --> 00:04:33,659 anything of my work, or examples in my trades, you'll see that that's pretty much a no brainer, it's very predictable. And if we understand that there are
22 00:04:34,229 --> 00:04:47,669 individuals or entities or now an algorithm that controls the fluctuations in price, and how do we argue and wrestle with the idea that what was going on
23 00:04:47,669 --> 00:05:03,299 before electronic trading? Well, it's the same theory that it's used. It's just been automated. The folks down on the floor When it was open outcry, only the
24 00:05:03,299 --> 00:05:10,139 illusion was they were helping push price up or pushing price down. And the fact is, that's not true.
25 00:05:11,250 --> 00:05:21,900 And the reason why I knew this was most likely accurate, is because I've learned my SNP trading from Georgia Joe, in Georgia. And Joe was a floor trader for the
26 00:05:21,900 --> 00:05:32,670 s&p. And he said specifically, in many of his teachings, that he left demoralized certain days, he lost a lot of money on some particular days, where
27 00:05:33,570 --> 00:05:41,880 if he had the insight that everyone would assume they have on the floor, he shouldn't have been having these big suffering losses. So what was going on
28 00:05:41,880 --> 00:05:54,300 those days? In emulation. So my belief is there's always someone pulling the strings. Now, I can't introduce you to them. I can't say here's where they
29 00:05:54,330 --> 00:06:04,380 reside, here's where they originate from. Okay. So there's going to be a certain measure of Tom Clancy in this, okay, by way of, I guess, you can put the quotes
30 00:06:04,380 --> 00:06:14,370 in quotes, symbols around it in quotation marks, if you will, conspiracy. And if that upsets you and bothers, you've just turned the video off, I really don't
31 00:06:14,370 --> 00:06:26,790 care to try to convince you of it, okay. But if morbid curiosity has kept you on this long, I promise you, you will be rewarded. So the mechanics of price
32 00:06:26,790 --> 00:06:37,950 manipulation started in the beginning, okay, it's always been there. As long as there's been a market, there's always been someone in control, otherwise, it
33 00:06:37,950 --> 00:06:51,480 could crash, any market could be completely decimated. If it was sheer, by way of the buying and selling that takes place on speculating, that's it. And they
34 00:06:51,480 --> 00:07:01,800 build in these ideas, these supposedly circuit breakers, but we're going to stop the selling from causing the market go down too far. They're all illusions,
35 00:07:02,100 --> 00:07:12,720 they're things that make you believe that the system is there for your benefit. And they're putting things in place to protect you as the investor. And that's
36 00:07:12,780 --> 00:07:26,460 not what goes on. Okay. So, when we look at price action, we understand that if there is a absence of randomness, that means there must be a present and clear
37 00:07:26,820 --> 00:07:37,170 order of things. So what is that order? Well, the books will teach you, as they taught me in my beginning, that it's all about support and resistance. The
38 00:07:37,170 --> 00:07:47,190 problem is, is what support or which resistance should you use? And how do you know if a support resistance is going to hold? And I get that question a lot.
39 00:07:48,180 --> 00:08:00,720 And before we can tackle that question, I'm going to ask you, what does the book teach you about placing support resistance levels on your chart, find an old
40 00:08:00,720 --> 00:08:08,700 high find an old well, where it bounced where it repelled. There's where you put your orders that and therefore the setups are going to occur there? How many
41 00:08:08,700 --> 00:08:18,210 times has that worked for you? I'm sure a few of you have many examples that you could say, well, it worked here. They worked here and work here. But if you're
42 00:08:18,210 --> 00:08:30,270 honest, how many times is a failed you? A lot more? I'm sure. So the question is, if the market does, in fact, find support and resistance, and I don't
43 00:08:30,270 --> 00:08:39,450 believe there is support and resistance in the marketplace, it's again, an illusion. Because what you're supposing is at that specific price level in the
44 00:08:39,450 --> 00:08:50,940 past is going to have the exact same response going forward. And it never rarely ever shows that consistency, once in a while will happen enough to write books
45 00:08:50,940 --> 00:09:03,960 and write chapters and enough to do seminars and webinars on. But when you start walking forward that idea, you have problems. It's like quicksand. It looks like
46 00:09:03,960 --> 00:09:13,260 good footing. But when you step out there, you start sinking, and you start questioning what's really going on. So I had a lot of frustration in the
47 00:09:13,260 --> 00:09:24,000 beginning, after encountering adversity in my trading, so I had to figure things out. I had to I had to think about things from an analytical standpoint. And I
48 00:09:24,000 --> 00:09:34,890 will admit to you right now that I wasn't confident that I was going to figure it out. But I sure as hell tried. And I was trying every single day, more hours
49 00:09:34,890 --> 00:09:48,060 than a full time job would have anyone work. Eight to 10 hours a day, sometimes 13 hours a day, and study. So I've been obsessive about this all my life. So I
50 00:09:48,060 --> 00:09:56,730 want you to understand that I didn't just throw this presentation together because it just fits today. I want you to go through the same mechanics and
51 00:09:56,730 --> 00:10:05,940 process that I'm doing here on any market. Any market whatsoever, because it's the same thing. There's always a puppeteer,
52 00:10:06,990 --> 00:10:18,990 there's always someone pulling the strings, it's never being left to the randomness of buying and selling. Okay? So I don't believe there's support
53 00:10:18,990 --> 00:10:26,850 resistance in the marketplace. And then that's probably unsettling for some of you. And I don't believe their supply and demand either. Because these are all
54 00:10:27,180 --> 00:10:40,620 notions that promote the idea of free trade. And there's nothing further than that. And it comes to truth of the markets, its complete and utter control and
55 00:10:40,620 --> 00:10:53,940 manipulation. We are given the ideas and perspectives by industry, talking heads, gurus, teachers, and such. And they could come across with the greatest
56 00:10:53,940 --> 00:11:06,900 intentions and well meaning spirit. But it's flawed. Because it's promoting the idea that there's no one really in control of price when there absolutely is.
57 00:11:07,950 --> 00:11:22,860 And I've shown many times where I can predict within one PIP or the very PIP have a particular high or low of a day, or week. And to me, no one can have that
58 00:11:22,860 --> 00:11:35,640 level of skill, or prognostication. If there wasn't a method behind it, that was measurable, that there was a well, data behind it to support it. Because if we
59 00:11:35,640 --> 00:11:45,900 understand that, indicators, and trend lines, you've seen all those things before, if it was beat by that, then we would all have the same settings, we
60 00:11:45,900 --> 00:11:58,410 would all have the same trend line anchor points. And we don't. And yet, still, the majority of people lose money doing it. So I was forced at an early age in
61 00:11:58,410 --> 00:12:10,590 my career, to abandon those things, because I want to only focus on the things that make sense. And I had to streamline my focus to things that made the
62 00:12:10,590 --> 00:12:26,130 clearest depiction of what price should do, and finding generic characteristics and price behavior that will repeat not because it's a specific setting, or
63 00:12:26,130 --> 00:12:37,830 indicator, but because it's what price will do, by its very nature. So what am I getting at, if it's not support resistance, what's moving price, order flow.
64 00:12:39,390 --> 00:12:48,090 It's all about where the money is. Now, the books will never teach you this. Because the folks that write these books don't understand or even know about it,
65 00:12:48,810 --> 00:13:01,410 because they're so indoctrinated. They believe wholeheartedly, that their system of indicators, or their methodology is resulting in that profitable trade, when
66 00:13:01,410 --> 00:13:11,700 that in itself is the sheer randomness that they're talking about. It's the price action that's not random. But their reaction and result of their
67 00:13:11,940 --> 00:13:24,330 interpretation of indicators and their methodology. And that's the randomness of the results of their system is what's random, not price action. If you look at
68 00:13:24,420 --> 00:13:38,760 promoters of ideas that sell systems and EAS, and things of that nature, as soon as they say they have proprietary indicators. that's a that's a red flag right
69 00:13:38,760 --> 00:13:48,480 there, they are not looking at what I'm going to show you today. And it's very generic. It's a very simple approach. It's about price. It's the open the high,
70 00:13:48,480 --> 00:14:01,140 the low and the close. It's a secret for indicator collection. And it goes by everyone, it goes right over their head every single day. So when we understand,
71 00:14:01,440 --> 00:14:15,240 or at least I'm asking you to suspend your belief in indicators and other methodologies just for the sake of this video. If we can simply say that the
72 00:14:15,240 --> 00:14:26,730 market is and trust me on this, for the presentation, the market moves where the money is, okay, we know that they are sometimes referred to as a stop run. But
73 00:14:26,730 --> 00:14:35,280 the books are not always as clear to determine a methodology on how to trade with that or to avoid it. It's just written up as well. You know, that's why you
74 00:14:35,280 --> 00:14:44,490 have to have good risk management and money management because price is random. And again, that's always been a stick in my craw. I've had a problem accepting
75 00:14:44,490 --> 00:14:55,950 that because people that get wealthy in the markets are not randomly getting there. They're doing things that are, again, measurable. Now when I'm saying
76 00:14:56,010 --> 00:15:03,210 making a lot of money. I'm not talking about the guys who make $100,000 a year I'm talking about the first They make millions of dollars per month. And these
77 00:15:03,210 --> 00:15:05,190 folks know exactly what's going on.
78 00:15:06,000 --> 00:15:14,700 And they do the same things over and over and over again. And they expect the same things and price action because it is absolutely controlled. So what do I
79 00:15:14,700 --> 00:15:26,520 mean? What do I mean by this? What do I mean by order flow? Well, when I look at price, as we looking at this chart right now, is many peaks and valleys in it.
80 00:15:27,060 --> 00:15:38,880 Now, right away, depending upon where you've come from, in your discipline of technical analysis, your I may be going to harmonic patterns, or your I may be
81 00:15:38,880 --> 00:15:51,630 drawn to a suppose a trendline, or some view, classic support resistance highs and lows, bottoms become tops and tops becomes bottoms cliche, whatever that is,
82 00:15:51,990 --> 00:16:02,610 I'm asking you to to push it to side just for a couple more minutes. And I'm going to ask you to think about price. Okay, think about a price. And think
83 00:16:02,610 --> 00:16:17,250 about it in its 00 level. In this example, here, we're looking at the euro dollar, and we have a price range of 121. Down to approximately 116 or so. in
84 00:16:17,250 --> 00:16:32,520 that range. There are several 00 levels for what I refer to as a big figure. And there's several 50 levels, okay, like for instance, like 120 50, or 121 51 1950,
85 00:16:32,940 --> 00:16:49,320 then you have the big figures, 119, even 120, even 121, even 117, even, and so on. And I want you to think about how price moves above and below these 50 00
86 00:16:49,320 --> 00:16:58,770 levels. You probably never noticed it before. But this is the beginning mechanics of understanding how price moves algorithmically. Okay, I have the 00
87 00:16:58,770 --> 00:17:08,160 level, the 50 levels on the chart in red. And I've also incorporated the 20 levels and 80 levels, okay, because we're gonna go over a few characteristics
88 00:17:08,160 --> 00:17:18,480 that are generic and price. But right away, you should be able to see that there are significant turning points at these references, 20 8050 and zero levels.
89 00:17:19,260 --> 00:17:28,440 Everyone out there struggles with what's the right support resistance level. And if you just simply do this to your chart, you'll have the key levels that are
90 00:17:28,440 --> 00:17:40,380 going to be most likely or salient to current price action at the time. Now I'm going to take that information and promote an understanding that how we can use
91 00:17:40,380 --> 00:17:55,770 institutional pricing like this 50 00 levels 20s and 80s. To find key turning points, okay, which will also lend well to finding setups. So right away, I want
92 00:17:55,770 --> 00:18:05,010 you to take a look at the reactions that take place around the 50 levels and the 00 levels. For instance, if we look at the 117, big figure down here, price was
93 00:18:05,010 --> 00:18:11,370 able to move down to it. But did it stop right at that level? Now it went through it despite a little bit. And then there was a reaction, price came back
94 00:18:11,370 --> 00:18:20,610 down. Now support resistance idea theory would say okay, let's wait for it to get back down to that level. It didn't do it. It traded higher. And it cut
95 00:18:20,610 --> 00:18:35,400 through a mid figure in at level, another big figure through a 20 level but then failed to get to a 50 level and then fell all the way down back down into this
96 00:18:35,400 --> 00:18:43,470 level. Now right away folks is subscribed to support resistance, they would say okay, well, here we are, we traded back to that level. So I can be a buyer now.
97 00:18:43,710 --> 00:18:51,930 And I'll put a stop loss rate below my low, and they get rewarded for a little while. And then price comes back down and drives through. Why is it doing that?
98 00:18:52,470 --> 00:19:03,900 Why is it doing it again here, because these double bottoms are designed to lower your eye to it and feel that it's safe to put your stop loss below it for
99 00:19:03,900 --> 00:19:04,680 a long position.
100 00:19:06,030 --> 00:19:18,660 Whenever we see price points in charts that have equal levels, that's an opportunity for a raid. Price should go down there, probe that area, and then
101 00:19:18,720 --> 00:19:30,780 anticipate a rejection and go the other way. And other examples here, double tops, price runs through it. Now this time it runs through it in doesn't reject.
102 00:19:31,380 --> 00:19:41,460 The reason why is because we've had a market structure shift inside this area right here. After trying several times to get below 117 big figure. The
103 00:19:41,460 --> 00:19:51,510 algorithm was not allowing price to go below. It wasn't the fact that there was no sellers. And it wasn't an imbalance of more buyers and sellers. The algo was
104 00:19:51,660 --> 00:20:02,310 working this level 117 How do you know it's working it was that mean? It's going down to it a lot and sweeping through it. That means they're accumulating long
105 00:20:02,310 --> 00:20:16,230 positions down here. Every time it makes a lower low. Everyone else's system will say that's weak. It's making lower lows. No, it's accumulating, buy, buy
106 00:20:16,230 --> 00:20:27,870 orders, with the existing sellers that are in place below these lows. Now, I want you to think about how when price reaches up to a 00 level or a 50 level,
107 00:20:29,070 --> 00:20:39,360 it's significant. Okay, it's kind of like mile markers. So if we can trade through a 50 level or full figure handle, Okay, so here's your level, or 50.
108 00:20:41,580 --> 00:20:53,940 That to me, if we understand the daily bias as well, if you think about what I taught in the high probability scalping series of three videos, the concept of
109 00:20:53,970 --> 00:21:03,030 determining what the daily bias is in that series is really simple. And you stick with that daily bias until we get to a potential turning point. And that's
110 00:21:03,030 --> 00:21:14,100 going to be on the hourly chart, which is what I'm showing you here. Everything I'm showing you with a purpose in mind should help to remove the anxiety about
111 00:21:14,340 --> 00:21:21,870 what support resistance levels you should be looking at. And by the time I conclude this video, where you can put your fibs, okay, and remove all that
112 00:21:21,870 --> 00:21:33,960 ambiguity. So we're going to assume that we've arrived at a bullish idea that the euro dollar is going to go up from here, it doesn't matter that you missed
113 00:21:33,960 --> 00:21:42,900 the buying low point down here, it's not important. Okay, that's not the important part at all. What I want to show you is, there are folks that will
114 00:21:42,900 --> 00:21:55,350 argue, okay, and suggest that a lot of the things that I teach or show, it's been cherry picked for the purpose of looking good. And I'm gonna show you how
115 00:21:55,350 --> 00:22:04,290 that's not true at all. Okay, and you can find this same types of setups. And you'll see that they are cookie cutter for the same type of thing all the time.
116 00:22:04,740 --> 00:22:16,230 And it looks like to the uninitiated, like, perfect hindsight, cherry picking, but it's not. I'll give you an example. All right, so we had all the cell stops
117 00:22:16,230 --> 00:22:26,100 ran out on this big figure at 117. Okay, and then price rallies, and it takes out a key swing high. Now, why is this a key swing high, because it's come all
118 00:22:26,100 --> 00:22:35,220 the way back down, taking out lows. So if it breaks this high, that will be a significant event in price action, at least for the euro dollar on an hourly
119 00:22:35,220 --> 00:22:45,720 chart is price, then, after making a higher high than this swing high here, it starts to retrace and comes back down. And it finds a reaction right here and
120 00:22:45,720 --> 00:22:57,000 bounces up again, creates an equal high starts to come back down. folks in the retail world will see this as resistance. Not you. There has been a shift in the
121 00:22:57,000 --> 00:23:07,710 market structure rallies. Now what I want you to do is I want you to think about and I'm gonna zoom in here, swing high that broke this swing high. Now we have a
122 00:23:07,710 --> 00:23:20,370 bullish market structure. There will be folks out there that will say, Hey, you know, these educators, they put their fibs in after the fact. So that way, it
123 00:23:20,370 --> 00:23:28,080 looks good. And they'll do something like this. And that's great. Okay, that would have worked because it stopped would have never been hit. Okay, but you're
124 00:23:28,080 --> 00:23:37,590 looking at a swing low, you're looking at the actual price points, okay. And the reason why I teach folks to focus on the bodies of the candles because your
125 00:23:37,590 --> 00:23:49,920 broker has the wonderful flexibility that you both agreed to then having about delivering the price to your platform, and it will always be slightly different
126 00:23:49,920 --> 00:23:57,630 than what is actually on the interbank level. Now, I'll say that, again, in layman's terms, everyone's broker's price is going to be slightly different
127 00:23:57,630 --> 00:24:07,920 because it benefits them in house on their own books, their their own customer base will be cannibalized when it's convenient for the broker.
128 00:24:09,960 --> 00:24:21,630 Okay, so, I want you to remove the idea that you have to know what swing low and what swing high to put your foot one. Okay. Forget that. Because that's what the
129 00:24:21,630 --> 00:24:33,930 books teach. In 1994. I was, was looking at the Japanese yen of all currencies. I know. The Japanese yen, I was trying to figure out what I wanted to do with
130 00:24:33,930 --> 00:24:47,370 that currency. Now, it was before I was trading forex, because forex wasn't permitted to be traded prior to 1995 unless you were a bank, but in 94, I was
131 00:24:47,370 --> 00:25:02,250 looking at the Japanese yen. And something struck me as a dissapoint of study I needed to get into the marketplace and find you know what What could be seen in
132 00:25:02,250 --> 00:25:11,700 price that repeats itself or whatever I'm struggling to figure it out because I knew that I could come up with a way and at the time I was going to write a
133 00:25:11,700 --> 00:25:23,070 computer program that would make my trading automated. That was my intent. But because I had to understand how it could reference certain price points to
134 00:25:24,420 --> 00:25:30,990 basically build a condition for bullish or bearishness. I didn't want to use moving averages because I didn't believe in them because eventually the moving
135 00:25:30,990 --> 00:25:41,160 average, you know, at the highs will have you buying. And it's over, it's done. So there had to be something for me to use as a criteria to determine where
136 00:25:41,160 --> 00:25:50,850 value is where overbought is where it's cheap, now where it's oversold or overbought and where it's a good price to buy, or where it's a good price to
137 00:25:50,850 --> 00:26:03,780 sell. And I wanted to make it as generic as possible. So that way, my program could reference these price points from a very generic standpoint, by that
138 00:26:05,700 --> 00:26:19,590 choice or pursuit. That particular day, it was July 10 1994. I remember writing in my blog, in my journal, I said, I want to incorporate this specific thing in
139 00:26:19,590 --> 00:26:32,610 price action. Now, I did not know the ramifications of this observation in price. And this is only by me studying price action alone and disregarding my
140 00:26:32,610 --> 00:26:41,730 indicators, because I had a lot of indicators at the time on my charts. But I stripped it down and I said I need to know what price is going to do. That can
141 00:26:41,730 --> 00:26:50,700 be seen and measured over long periods of time, not just perfect examples. And in hindsight, I need to be able to see this stuff going forward. So once I
142 00:26:50,700 --> 00:27:01,200 adopted what I'm going to show you here, it made perfect sense. That's the reason why I could do and I actually contemplated doing this for about a week, I
143 00:27:01,200 --> 00:27:10,080 was going to plot my fibs, as I'm going to teach you here. And it would have drove Twitter crazy. Oh, he's putting it where it makes sense for him. And you
144 00:27:10,080 --> 00:27:19,140 will never you have never seen this. And I'm telling you this, and I'm challenging you, you find this in any book or educator, and it's got to be
145 00:27:19,140 --> 00:27:29,370 printed, or in video where you can see it before the fact Okay, like I I know, it doesn't exist, because I buy everything. But this was never taught to me in
146 00:27:29,460 --> 00:27:39,600 any of the things I've ever seen. No one else teaches it. And again, it's just one of those things that you get, or at least I received it by just being
147 00:27:39,630 --> 00:27:55,020 insanely focused. And from a standpoint, as a computer programmer, I needed to be able to reference a specific price point. Now I'm gonna say this, and I want
148 00:27:55,020 --> 00:28:06,540 you to really pay attention. Because if I lost you by now, okay, this is going to hopefully get you excited. Your broker is high, and my brokers high are not
149 00:28:06,540 --> 00:28:17,940 going to agree. Our lows are not going to agree there, there's always gonna be some slight variance. Why is that? Because it's economical for them as the
150 00:28:17,940 --> 00:28:25,110 broker to manipulate price to shorten the spread to widen the spread when it's convenient for them.
151 00:28:26,400 --> 00:28:34,320 That's the reason why I teach the use the body that candle because that's the bulk of the volume. Now it still is not going to be lockstep for step, the same
152 00:28:34,320 --> 00:28:41,730 thing you would see on the interbank level, that price is not going to be delivered to your demo account. It's not gonna be delivered to your Live
153 00:28:41,730 --> 00:28:48,630 account. And I don't care what broker there is, this is the reason why I avoid the broker discussion, which is the good broker, it's up to you to decide that I
154 00:28:48,630 --> 00:28:57,840 don't ever want to promote the idea of one broker being the safest one, or the best one, because there isn't anyone like that. They all have a vested interest
155 00:28:57,840 --> 00:29:06,540 in making money off of you. So if you lose money, I don't want you saying that I cause you to lose money with that broker because you made a decision on your
156 00:29:06,540 --> 00:29:15,780 own. Okay. I will say this if you go through and do a reasonable research on the internet and talk to people that are actually using them. That's the best
157 00:29:15,780 --> 00:29:24,450 feedback and selection process there is okay because the ones that are big name and doing very well. They didn't get there you overnight, they've been able to
158 00:29:24,450 --> 00:29:33,150 hold a good customer base and retention. And there's not been enough horror stories to put people on the on the sidelines about putting money with them.
159 00:29:33,570 --> 00:29:43,680 Okay, so I'll just say that for completeness sake, but there are folks that will teach that the Fibonacci needs to be placed on the very, very low up to the
160 00:29:43,680 --> 00:29:55,860 very, very high and sometimes that works. And sometimes it doesn't. And I teach that you should put a finger on the body's lowest open or close at a swing low
161 00:29:55,980 --> 00:30:13,170 up to the highest open or close in a swing high and sometimes It doesn't work. what is really going on, is prices gravitating to these four levels. Now think I
162 00:30:13,170 --> 00:30:24,990 gave you a science to finding support resistance just now you don't even realize it yet. I've also gave you the science behind why my fib works when it works.
163 00:30:25,980 --> 00:30:42,630 And why I only look at specific swing highs and swing lows. Look closely. price breaks this swing high, comes back cycles back down into the mid figure. Okay? I
164 00:30:42,630 --> 00:30:59,310 want you to think about where price originated from. It started sweeping the 17, big figure, right. And price traded all the way up and traded into the 1820
165 00:31:00,090 --> 00:31:14,880 institutional price level. Now, it went a little bit above it. But I don't want you focusing there. It worked off a 17 big figure up to the 1820 level. That's
166 00:31:14,880 --> 00:31:27,720 where you anchor your fib. If you put your Fibonacci on the 117, big figure, notice I'm doing it away from any swing lows, any highs and the lows, forget
167 00:31:27,720 --> 00:31:38,130 that. That's retail thinking. You got to think with an institutional mindset because this is how the algorithm delivers price. It comes exactly down to the
168 00:31:38,130 --> 00:31:47,010 62% retracement level, then we get a pop, comes right back to this same price level, see where it's stopping. It's not stopping at the high, it's stopping at
169 00:31:47,010 --> 00:31:53,370 the 20 level. Okay, now the same premise in mind, okay, watch what happens, I'm going to take this fib
170 00:31:59,880 --> 00:32:12,240 off. And I want you to think about this area right in here. Now, there will be folks that say you need to put your finger on this low, up to the highest high.
171 00:32:12,510 --> 00:32:25,770 And let's do that. On the lowest low on the highest high. Yes, we get it hit and right here on 62%. tracing level, beautiful, nothing wrong with that. But I want
172 00:32:25,770 --> 00:32:39,780 you to think a little bit differently. Watch what happens 20 level back on because it took it off. And I'll take this off again. And I'm going to calibrate
173 00:32:39,780 --> 00:32:52,080 my fib to the actual 50 level, not looking at the actual swing highs and swing lows, I'm putting it right on the price level itself that prices working the 20
174 00:32:52,080 --> 00:33:02,730 level off of the 1757 words, look at price hitting 1750 then reaction happens there. Who cares about the actual low because your low is not going to agree
175 00:33:02,730 --> 00:33:11,880 with mine. And it's not gonna agree with 50 other people either only the same people in that same respective liquidity pool or broker is going to have the
176 00:33:11,910 --> 00:33:25,080 same agreement. So and even if you do that, if you look at like FX cm, they had many ways of looking at price action. I had people that were trading live in FX
177 00:33:25,080 --> 00:33:36,210 cm, and I had a Live account with FX cm at one time. And we still didn't even agree on our highs and lows. So this is the reason why I'm telling you forget
178 00:33:36,210 --> 00:33:44,310 that. Forget the folks that tell you this is the proper way of putting your fib on the low and the high forget that because that's not what's going on. Okay,
179 00:33:44,970 --> 00:33:57,360 price is moving to these four price levels. And they're reacting off of that. Now when we know this, we can see the anchor point is the price level, not the
180 00:33:57,360 --> 00:34:06,570 very high or the low. Not the bodies of the candles either the buys or cancel get you the closest thing to it without me teaching you this. But I wanted to
181 00:34:06,570 --> 00:34:17,010 answer this response because I got a couple emails from folks that really support Tom Dante and again, this is not like a pissing match. I'm not trying to
182 00:34:17,010 --> 00:34:29,130 do that to be disrespectful or anything. But I got a call a correction when it's necessary. And this is what really should be done with a fib. Looking at the
183 00:34:29,130 --> 00:34:36,780 reference points whenever you think you're gonna put your your Fibonacci on a swing low, find out what level it is, if it's a 50 level and at level, a double
184 00:34:36,780 --> 00:34:48,450 zero level, then that's what you put it on. That's it. Forget all this other stuff, because that's always going to be erroneous price action. Not in the
185 00:34:48,450 --> 00:34:57,420 sense that it wasn't necessary, or that they weren't doing something that reach for stops or something like that. We're defending a level not going down to it
186 00:34:57,750 --> 00:35:07,950 as many times as they would be reasonably expected to see it It just means that you have to think about how if price was controlled by a computer program,
187 00:35:08,460 --> 00:35:19,680 there's no way on earth that could it could ever see all of our orders. It can't. But when it goes to these levels, and sweeps through it a little bit,
188 00:35:19,680 --> 00:35:29,520 that's all that's necessary because the common thesis is stop losses are just below old low, or at the old low. So they go to that specific price level, and
189 00:35:29,520 --> 00:35:39,540 they whip through it just by a little bit. They don't know where your orders are specifically, they just know where they're likely to be at. Think about that.
190 00:35:40,500 --> 00:35:51,690 Now, right away, if I had my anchor points on the price levels, as indicated here, I got a deeper retracement that goes just a little bit below 62. But
191 00:35:51,690 --> 00:36:06,360 nonetheless, it's still there. Price rallies again, it takes off. Now watch. Watch what happens here. If we see this buy point right in here. Well, how is
192 00:36:06,360 --> 00:36:18,060 that a buy point? Is it going to be a Fibonacci retracement? Well, let's take a look at that. We're going to use the standard technical analysis way of doing
193 00:36:18,060 --> 00:36:29,070 it, we're going to put it on the low up to the high right there. Well, we didn't get down to 62. We didn't get to 70.5. And we sure didn't get down to 79%.
194 00:36:29,070 --> 00:36:37,890 tradesmen didn't do it. So we can't, we can't look at this as an optimal trade entry because it didn't retrace deep enough. So therefore, Fibonacci traders,
195 00:36:37,890 --> 00:36:50,340 and those that use the methodology as taught by the books, and everyone else uses online, they miss out on this by. But now do what I taught you. We're going
196 00:36:50,340 --> 00:36:51,480 to calibrate it to
197 00:36:53,010 --> 00:37:05,670 the level, we're going to start with the 80 level and drop it down into the 50 level. Okay. So right away, we have we have a shortened range in here. It was
198 00:37:05,670 --> 00:37:17,670 shortened range. Price has blown through what key price level? What did it just shoot? What did this shoot through? Right here off of this run? It went through
199 00:37:17,790 --> 00:37:30,720 the big figure 119. So if it's going through with energy to get through 119, shouldn't it be reasonably expected for it to maybe retest 119, or try to stay
200 00:37:30,720 --> 00:37:44,100 above 119. That's what the algorithm does. It determines these mile markers in price. And once it overtakes a key big figure, or a mid figure, it will either
201 00:37:44,100 --> 00:37:52,710 come back down to it, or it won't come back down to it or it'll come back down through it in reverse. There's three conditions you have to have now again, the
202 00:37:52,710 --> 00:38:03,390 folks that understand computer programming, understand exactly what I'm referring to as if then syntax, it's logic behind the decision making that
203 00:38:03,420 --> 00:38:13,800 controls what the outcome is going to be. Here, I want you to think about the the idea of how much energy it took to get away from 118 to get up to 118 80.
204 00:38:14,070 --> 00:38:25,080 Then it paused. And it ran aggressively again through 119. Big figure up to 119 50 then it starts to retrace? Well, we've cleared a big figure my mind right
205 00:38:25,080 --> 00:38:41,280 away thinks we probably will come back down to 119 to retest it. But in the event that it doesn't, what setups could be manifesting there. Watch for the fib
206 00:38:41,310 --> 00:38:48,990 on the 119. Big figure. And on 119 50. I'm going to zoom in so you can see it
207 00:38:56,970 --> 00:39:08,550 boom 62% retracement level, there's your optimal trade entry. Now, I'm gonna be honest with you. If I would have put this on a chart, okay, and anchored to fib
208 00:39:08,760 --> 00:39:21,000 Ray here and up to here. Everybody would have been screaming, what in the world this is cherry picking. He doesn't know how to use a Fibonacci really. Because
209 00:39:21,000 --> 00:39:27,900 I've been doing this for a long, long time. And it's not just these examples that it works on. I'm telling you to go through your charts, and you'll see it
210 00:39:28,980 --> 00:39:42,030 when prices bullish as eurodollar was. It's going to be reaching for levels. Okay. Why do I want to exit early? Like, I think that price may go up to a
211 00:39:42,030 --> 00:39:51,060 specific price level. Maybe ADR suggesting things maybe I've done some Fibonacci extensions or whatever. But I want to get out at the most logical price points.
212 00:39:52,380 --> 00:40:02,730 And they're going to be as close as I can to these four price levels. Look at the delivery price here. It went right to one, two 50 Yes, it went through it a
213 00:40:02,730 --> 00:40:12,390 little bit. I am never concerned about that. I don't care about that. Okay, what structures my trade is? Do I have the ability to get to these levels? Look how
214 00:40:12,390 --> 00:40:23,640 nice it and easily got to this 120 big finger. It's easy to understand the mechanics, when you think about price like this, remove the notion of you have
215 00:40:23,640 --> 00:40:31,440 to have the right swing high and the right swing low. No, you don't. You don't need that. You need to know where you are in terms of valuation. What's the
216 00:40:31,440 --> 00:40:46,320 price at? Think about this over here, this axis on your chart is the most important thing. Then this one down here, it's time when those two agree. And a
217 00:40:46,320 --> 00:40:56,550 bias is in play. In other words, are you bullish or bearish? There has to be a stage. Okay, what makes the setup or condition bullish or bearish? That's where
218 00:40:56,550 --> 00:41:05,880 the hardest work for you is? Because the entry patterns are the easiest, the easiest, the hardest thing is for you to determine should you be buy or should
219 00:41:05,880 --> 00:41:17,850 you be a seller and stay in that camp until your setup comes? period. Simple as that. Now we're going to take this idea. And we're going to switch it to when
220 00:41:17,850 --> 00:41:30,990 things are bearish. And I'm gonna look at this little point right here. Now if we were looking at classic Fibonacci application, here's a swing high. And we'll
221 00:41:30,990 --> 00:41:40,770 put it on the high here, down to the low, didn't even get back to the 50 level, or equilibrium would be 62 is up here. So how can you get a sell signal here?
222 00:41:41,850 --> 00:41:53,430 Think about price from an algorithmic standpoint. What price did it just leave? with energy? It left the 120 big figure. So it left the 120 big figure traded
223 00:41:53,430 --> 00:42:13,710 down to 119 50. Where should your fit be placed? on 120. So you have 1951 20, boom 70.5 level, there's your optimal trade entry. I know right? Folks, it's not
224 00:42:13,710 --> 00:42:23,790 about picking the right swing high. Right, swing low. It's about understanding what price is doing. It's all in open high, low and close. What is the price
225 00:42:24,540 --> 00:42:36,570 it's working off of right now? I gave you four price points, 00 levels, 50 levels, 20s and 80s. It's as simple as that there's your support resistance. The
226 00:42:36,570 --> 00:42:47,610 thing you have to know is where is the bias? Is it bullish or bearish? When you know these things, and you apply it, you will see things that no one else sees.
227 00:42:48,150 --> 00:42:59,940 And no one in the teaching circuits teaches this. It's mine. This is the byproduct of having an insane interest in knowing what price is going to do. And
228 00:43:00,600 --> 00:43:08,040 having a degree in something that couldn't make money with I went to school to learn to be a computer programmer. I've never received a paycheck one time doing
229 00:43:08,040 --> 00:43:19,320 that. But I've received huge paychecks by way of using this information and thinking about things from an analytical standpoint and trying to formulate
230 00:43:19,380 --> 00:43:35,730 analytical and algorithmic approaches to deciphering price action. So some more examples here. If you look at how price is moving, okay, we left the 120 went
231 00:43:35,730 --> 00:43:50,130 down to 1950, down to 19. Big figure swept through 1850 fell short of 1820. Okay, so we fell short of 1820. So are they supporting that price level?
232 00:43:51,510 --> 00:44:02,430 Well, they showed a willingness to go through a short term high here. So even though it never touched that level, and showed a strong reaction, your broker
233 00:44:02,460 --> 00:44:14,580 may not have that low touching this institutional level at 20. I still would use that I would use that reference point. So let's take a look at applying the fib
234 00:44:16,740 --> 00:44:29,490 on here 1820 and this is the part that's going to seem like form fitting, okay. But the question is going to be this when you're looking at these levels, the
235 00:44:29,490 --> 00:44:40,560 questions I asked myself is, is the level being worked up and down around it and then did it leave it the price get away from it energetically above it, you
236 00:44:40,590 --> 00:44:48,990 know, moving bullishly away from it or barely moving away from it because it's going to give you a tip as to what the algorithm is trying to do reprice higher
237 00:44:48,990 --> 00:44:58,080 or reprice lower. Now also, I'm also determining whether there's a willingness to get down to that level and if it fails to get to a level going up to it or
238 00:44:58,080 --> 00:45:09,540 going down to it. I will still Use that level because it's being defended. The algorithm is trying not to go beyond that price point. The reason why you're
239 00:45:09,540 --> 00:45:19,320 going to struggle with this is because you have to submit the idea that your retail account may not show the price level itself. But when you put these
240 00:45:19,320 --> 00:45:30,390 levels on your chart, it will help you decipher what price is, in fact, probably doing. Now, you may have expected price to hit that level. Okay. And it made it
241 00:45:30,390 --> 00:45:38,310 ugly, I probably would have been expecting that same thing that occur here. But when price reverses, and trades through the short term swing high here, when I
242 00:45:38,310 --> 00:45:47,340 see that I know that they defended at 20 level, and nothing's changed. It's the same thing as if you were looking for the setup to occur. Like after the fact
243 00:45:47,340 --> 00:45:54,930 here, it went above it. Okay, great, I'm going to look for a buy signal on the same context that I just framed, the earlier buy for this. So we're going to
244 00:45:54,930 --> 00:46:11,190 anchor our fed right on the 20 level, draw it up to this 1980 level because price did hit it and had a reaction off of it. Now watch closely. I'm looking at
245 00:46:11,220 --> 00:46:12,450 the price level.
246 00:46:18,300 --> 00:46:29,160 jumped on my platform to that low I gotta make sure it doesn't touch that. Okay, so we're on the 1820 level, up to the 88 level cuz it traded traded to it and
247 00:46:29,160 --> 00:46:39,210 reacted. So in price comes back down here, this is a buying opportunity right there. And we can start looking for these targets here. Okay, Brian, for this
248 00:46:39,330 --> 00:46:49,560 old high. Let's just watch and see what happens in price, using institutional price levels, not swing highs and swing lows on price, not stressing about,
249 00:46:49,710 --> 00:46:56,370 well, you know, there's certain educators out there that cherry pick and they put this stuffing Tom, I'm gonna put that at rest with me, because it doesn't
250 00:46:56,370 --> 00:47:04,410 work with me. That does not apply to me. I'm not saying he did associate that with me. I'm saying just in case you did. Okay, I want you to know that there's
251 00:47:04,410 --> 00:47:14,790 absolute science behind where I put a fit bat. Price meanders goes forward and look at the reaction right there. Beautiful. That's a buying opportunity as
252 00:47:14,790 --> 00:47:25,620 well. And what's resting right here. Equal highs, price should react to go where boom, clear that out. Under underlying premise behind the hump market price is
253 00:47:25,620 --> 00:47:40,950 it's bullish still. Boom, boom, hits it, it's over. This is what I'm talking about. When you have to look at order flow, I'm not using these gimmicky things
254 00:47:40,950 --> 00:47:49,380 that is there in fashion right now. You know, just like supply and demand was in fashion about five, six years ago. And you know, people still have faith in
255 00:47:49,380 --> 00:47:57,330 that. But I slice and dice that theory too, because they have limitations on it that don't make sense. Don't cut through candles, you have to cut through
256 00:47:57,330 --> 00:48:06,390 candles to get context in the market, you have to know certain things. And if you start putting parameters on that says you can only look back to this price
257 00:48:06,390 --> 00:48:16,830 point here and never cut through a candle at this, that doesn't make any sense. Because you'll never understand a real stop rate. Okay, or a run on a key level.
258 00:48:16,920 --> 00:48:28,680 If you don't cut through candles, and supply demand teaches that you can't do that. So let me take that off. We're going to take another couple more examples
259 00:48:28,680 --> 00:48:36,540 here. And I'll end this video because it's getting really long winded. But the idea is just to stimulate your thought processes behind it. It's not an absolute
260 00:48:36,540 --> 00:48:48,300 science for you, as it is for my mentorship. Okay, I'm just giving you examples of how it is I'm challenged, it cannot be rivaled by any other retail approach.
261 00:48:48,510 --> 00:48:58,080 If you want to put a Fibonacci on your chart, do it with this mind. And I'm telling you, you will start looking like a wizard, you'll see things that no one
262 00:48:58,080 --> 00:49:08,130 else is talking about. And you'll be pulling trades out of the marketplace that no one else would be doing either price keys off of the 1850 level again, I'm
263 00:49:08,130 --> 00:49:18,420 not going to the swing low. I'm going right off to the level itself. Okay. And we're going to go right up to the 1920 level. Boom optimal trade entry. So
264 00:49:18,420 --> 00:49:29,790 forget all this safe didn't even see this. They didn't worry with it. You want to be a buyer. No problem. We can capture the buy here. Okay. Same thing we want
265 00:49:29,790 --> 00:49:37,980 to look for projections on price once starts to move out if we take out this swing high, which is the old one. How far can it go up to? Here's a 200
266 00:49:37,980 --> 00:49:49,440 extension. Boom, beautiful. On done completely decimated the euro dollar with that. Now, did I give you something retail here? Is there any trend lines on it
267 00:49:49,440 --> 00:50:01,050 any moving averages any stochastics? No, I use the Fibonacci but I used it in a way that we can grade institutional price swings the markets Move from an
268 00:50:01,080 --> 00:50:11,550 algorithmic standpoint, they're predictable, you can make a science out of why it should go where it should go. And where you should get in at getting in is
269 00:50:11,550 --> 00:50:20,340 the least important, you have to understand what side of the marketplace it's going to go for the up or the down the bullish or bearish. Okay. So that means
270 00:50:20,340 --> 00:50:28,140 you need to know what the draw is on price. Well, at this point here buying here, the draw is above this old high, that's where their buy stops are going to
271 00:50:28,140 --> 00:50:38,580 be. So even though this is suggesting this is a good level to take profit at, and it's a real nice reaction there and trades back down. Watch what happens
272 00:50:38,580 --> 00:50:47,520 again, in this little money price action in here. You probably don't know where I'm going with it. It'll be the last example for this presentation. We have
273 00:50:50,970 --> 00:51:01,290 price reacting in sweeping through the 1950 level, and then rallying up then coming back to a shallow retracement and falling short of getting to the 1980
274 00:51:01,290 --> 00:51:10,500 level. Forget all that. Where's the price points? 19 5020 5200 PIP range.
275 00:51:11,970 --> 00:51:22,920 But right on the price levels themselves. Right there. Okay. So we're anchoring off this level, not the swing low, not the wick. If I were to put this on here,
276 00:51:23,040 --> 00:51:28,620 why the hell did you do that ICT? You would have been thinking Oh, he put it back here because this this is that level here night you would have never
277 00:51:28,620 --> 00:51:40,290 figured this out. You never would have figured this out. Okay. Looking at price, reacting at 1950. That's the level it was working the algorithm went to that
278 00:51:40,290 --> 00:51:53,250 level but swept it. So the real key work is 19 mid figure. Okay, so 1950 it rallies goes up to 2050 or 20 min. Figure then retraces back down. What's the
279 00:51:53,250 --> 00:52:05,550 hitting right here? 62% retracement level, boom. Well, also, is it happening? Order block. Today got two things going for you. institution order flow, bullish
280 00:52:05,550 --> 00:52:15,000 order block, optimal trade entry, buy it, it's going to go above this high for the stops is your fib target and look at the bodies of the candles very close to
281 00:52:15,000 --> 00:52:23,580 what would be acceptable as a target. And yes, it wicks through it a couple times. But that does not concern me. Okay, I want to know these levels here.
282 00:52:24,120 --> 00:52:31,080 Okay. And this is a buying opportunity that no one would look at this and say that's an optimal trade entry because they look at just my tutorials. They don't
283 00:52:31,080 --> 00:52:40,260 have this insight. But now you have it. Okay? If you want to learn things like this, and you want to apply certain higher level theories that I don't make a
284 00:52:40,260 --> 00:52:49,860 will ever make them public beyond what I've done here. The mentorship is for you. If you're not wanting to get to this level of insanity in terms of
285 00:52:49,860 --> 00:53:01,350 understand what price is going to do, then you just stick to the free tutorials and that'll be fine. But I just wanted to kind of like answer a response I got.
286 00:53:03,870 --> 00:53:13,290 Well, I didn't really get it. But I heard it in a video by another educator. And I just wanted to put my two cents in because I get a lot of opinions expressed
287 00:53:13,350 --> 00:53:22,500 about me and about my methodology. And many times it's done by way of ignorance, they don't really know what they're talking about. And they're grading me or
288 00:53:22,500 --> 00:53:32,610 suggesting that I'm doing certain things when they have clearly no idea what I'm doing. And I'm going to leave it at that. Okay, but there's so many examples in
289 00:53:32,610 --> 00:53:41,700 here. Okay, that it's crazy. Like I'll give you one more because I just want to do it. We have a swing high here. Okay, and we have a swing low here. Really
290 00:53:41,700 --> 00:53:50,580 nice sell off here. So what was the catalyst behind it? Well, if we put our fib obviously the market has shown a willingness to break down up here and I go
291 00:53:50,580 --> 00:53:59,850 through tutorials showing you that now the swing high swing low camp will do this. Okay, great. It gives you 60% Jason Oh, great. Nothing wrong with that.
292 00:54:00,030 --> 00:54:10,260 Okay, but in my mind what I'm doing is I'm doing my fib at the level itself at 20 1920 I'm dragging it down
293 00:54:15,270 --> 00:54:25,830 to 1920 so 2020 to 1920 Why am I putting it down here there's no there's no reference to this swing boy Michael it doesn't make any sense. This is stupid.
294 00:54:26,340 --> 00:54:35,880 You don't know what you're doing? Sure I do. Price done what it reacted by going higher and failing to get to 1920 so what's the algorithm doing is defending
295 00:54:35,880 --> 00:54:45,390 1920 Well, how do I know that because it took a swing high. Oh well wait a minute Michael isn't this one of those breaks the swing high comes back down
296 00:54:45,420 --> 00:54:53,310 optimal trading shrink by No. Because the context is the markets broken down back here. That's why some of you look for optimal trade entry Long's and you
297 00:54:53,310 --> 00:55:03,510 don't get them. You get these smashed through and Oh no. How do I know? You have to know what the market is showing you By context, context is, what's the
298 00:55:03,510 --> 00:55:12,990 storyline behind price? Is it bullish or bearish? And has it reversed? Because if it has reversed, well, what's the reversal here, price went above an old
299 00:55:12,990 --> 00:55:23,610 high, fail to go higher, and came back down, find the reaction low and between the breaks that it's bearish until it resumes going higher again. So this whole
300 00:55:23,610 --> 00:55:32,190 model here is bearish. So my optimal trade entry would be framed on something like this, and it takes me deeper. So I'll get a slightly higher entry price,
301 00:55:32,550 --> 00:55:42,810 then if we were to use this high to this low, and look at the consolidation of price action, see the bulk of the volume in there, you're not seeing that, okay,
302 00:55:42,810 --> 00:55:53,490 now, look how much time the the institutions were given the opportunity to get short in here, before the big move drop, versus something like this. If you just
303 00:55:53,490 --> 00:56:05,040 do this, retail, okay, gets one to three chances. Maybe if you want to count this here, how many times you really want to hit that it's 62. And you know,
304 00:56:05,040 --> 00:56:13,200 you're probably not going to do it, you're going to want to get up here and deeper, and get some kind of a better fill. That's not what I'm doing. I'm
305 00:56:13,230 --> 00:56:30,960 looking for reasons to justify this openly and outwardly to the public. But many times my personal trades are framed with what would otherwise be seen as no
306 00:56:30,960 --> 00:56:43,140 basis whatsoever, but there is a rhyme and reason behind it all. Look how much time price spends in that 62 to 70.5 level, right in here. Lots of opportunity
307 00:56:43,140 --> 00:56:52,350 to get short there. And then finally, boom, to be Cavan. And you have your targets, boom, 60, I'm sorry that target two hits it, but also reaches more
308 00:56:52,350 --> 00:57:03,270 specifically for the 1850. Price wants to go to these levels, folks, it's not random. Now, obviously, I did not give you do this every single time I've given
309 00:57:03,270 --> 00:57:15,150 you an idea, because that's what started back in July 10. of 1994. This is what I wanted to start looking for evidences of. And it just so happened that it
310 00:57:15,600 --> 00:57:25,380 provides a wonderful opportunity to also segue into answering in addition with greater detail why Fibonacci is shouldn't be so forced on swing highs and swing
311 00:57:25,380 --> 00:57:33,510 lows, because that's not the that's not the magic behind it. Okay. And the reason why the Fibonacci is even showing a willingness to have a profitable
312 00:57:33,780 --> 00:57:42,480 signal, if you want to call it that. It's just using a reference point of overbought and oversold. That's all I use the Fibonacci for. I don't need it for
313 00:57:42,480 --> 00:57:51,300 anything other than that. So I go into great detail about that in the mentorship. But if you want to trust the fact that the Fibonacci does all the
314 00:57:51,300 --> 00:57:57,540 work, but you want to use it like this, and have the daily buys understood, then that's fine. You can be a subscriber in that view and it won't hurt anything,
315 00:57:57,570 --> 00:58:06,720 it'll still give you the same result. But I know some of you are just really really keyed up about wanting to know everything there is that I know and these
316 00:58:06,720 --> 00:58:17,820 types of concepts and things they get taught only in the mentorship so and you will be able to see a lot of opportunities that would otherwise evade you. And
317 00:58:17,820 --> 00:58:20,040 until next time, I wish you good luck and good trading