Wiki source code of ICT YT - 2018-01-03 - ICT January 03 2018.srt
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1.1 | 1 | 1 |
| 2 | 00:00:17,820 ~-~-> 00:00:27,450 | ||
| 3 | ICT: Well, Happy New Year, folks, welcome to 2018. This is the first episode, | ||
| 4 | the internal trader on YouTube. So we've been looking at the cables is British | ||
| 5 | |||
| 6 | 2 | ||
| 7 | 00:00:27,450 ~-~-> 00:00:36,900 | ||
| 8 | Pound USD. Now this pairs hindsight, I didn't do anything with this pair. But | ||
| 9 | this is what I do, I'm showing you how I do it. During the time of the year when | ||
| 10 | |||
| 11 | 3 | ||
| 12 | 00:00:36,900 ~-~-> 00:00:47,550 | ||
| 13 | I'm not active, I still am very much interested in what price has been doing. So | ||
| 14 | I always look at it after the day closes, mark up the charts and see what | ||
| 15 | |||
| 16 | 4 | ||
| 17 | 00:00:47,610 ~-~-> 00:00:58,320 | ||
| 18 | symmetry it all is in the marketplace. I use it for journaling, I use it for | ||
| 19 | staying connected to the price action, even though I'm not going to be actively | ||
| 20 | |||
| 21 | 5 | ||
| 22 | 00:00:58,320 ~-~-> 00:01:08,730 | ||
| 23 | trading with normal leverage or in normal capacity until usually the third week | ||
| 24 | of January. So I let the first two weeks of January in trade without me. And | ||
| 25 | |||
| 26 | 6 | ||
| 27 | 00:01:08,730 ~-~-> 00:01:16,890 | ||
| 28 | then around the third week of January uses Tuesday of that week, then on then | ||
| 29 | and only then I'll look to get engaged price action with with live trades with a | ||
| 30 | |||
| 31 | 7 | ||
| 32 | 00:01:16,890 ~-~-> 00:01:26,430 | ||
| 33 | little bit more meaningful leverage that took a very, very small position in the | ||
| 34 | euro dollar. I tweeted that earlier this afternoon. But you see what I'm | ||
| 35 | |||
| 36 | 8 | ||
| 37 | 00:01:26,430 ~-~-> 00:01:34,710 | ||
| 38 | referring to in chart form. But I showed you the details with the time of entry | ||
| 39 | and exit and such you can see what it was really, really small position. But I | ||
| 40 | |||
| 41 | 9 | ||
| 42 | 00:01:34,710 ~-~-> 00:01:47,430 | ||
| 43 | do that when I think there is something in the chart for me to engage with. But | ||
| 44 | because of the holiday rut that we're coming out of it, I don't trust the price | ||
| 45 | |||
| 46 | 10 | ||
| 47 | 00:01:47,430 ~-~-> 00:01:54,930 | ||
| 48 | action, and there's going to be times when the market is going to be screaming | ||
| 49 | and those individuals that hear me say those types of things. Well, you know, I | ||
| 50 | |||
| 51 | 11 | ||
| 52 | 00:01:54,930 ~-~-> 00:02:04,230 | ||
| 53 | CTS foolish because look what happened? Well, in my experience, I've been around | ||
| 54 | for a while. Even though being 45 year old and having a rather comfortable life. | ||
| 55 | |||
| 56 | 12 | ||
| 57 | 00:02:05,160 ~-~-> 00:02:13,500 | ||
| 58 | I've seen a lot of things go wrong this time of year when I try to trade it. So | ||
| 59 | it's up to you whether you want to listen to a person that's been doing a whole | ||
| 60 | |||
| 61 | 13 | ||
| 62 | 00:02:13,500 ~-~-> 00:02:22,470 | ||
| 63 | lot longer than you, okay, I'm just telling you, from my personal experience the | ||
| 64 | first couple weeks of January, it's generally not that predictable or precise. | ||
| 65 | |||
| 66 | 14 | ||
| 67 | 00:02:22,500 ~-~-> 00:02:29,400 | ||
| 68 | Now there's going to be times when it is and you're going to be lulled into | ||
| 69 | thinking well you know that rules no longer applicable. Well, you can do that | ||
| 70 | |||
| 71 | 15 | ||
| 72 | 00:02:29,430 ~-~-> 00:02:38,370 | ||
| 73 | under saying I'm not going to do that. Okay, so I'm trying to tell you how I | ||
| 74 | walk the walk and not just talk the talk. So I want to take your attention to | ||
| 75 | |||
| 76 | 16 | ||
| 77 | 00:02:38,370 ~-~-> 00:02:50,340 | ||
| 78 | this old high here. This is a daily chart for the cable rich on USD. And as | ||
| 79 | price started running through this was yesterday. And everyone obviously saw | ||
| 80 | |||
| 81 | 17 | ||
| 82 | 00:02:50,340 ~-~-> 00:02:58,560 | ||
| 83 | price go above these highs. And I'm sure everyone was thinking naturally this | ||
| 84 | high was going to be the one that day one run out because of the beginning of | ||
| 85 | |||
| 86 | 18 | ||
| 87 | 00:02:58,560 ~-~-> 00:03:08,100 | ||
| 88 | the year effect. Okay, so now we're it's it's the January start of a new year. | ||
| 89 | Okay, you can see here we're the time of this recording. It's little after 7pm | ||
| 90 | |||
| 91 | 19 | ||
| 92 | 00:03:08,100 ~-~-> 00:03:17,430 | ||
| 93 | New York time, or I am locally, and I live in New York, but I'm on the east | ||
| 94 | coast of the US. So this is my timezone and it's the third of January. So we're | ||
| 95 | |||
| 96 | 20 | ||
| 97 | 00:03:17,430 ~-~-> 00:03:27,840 | ||
| 98 | in a fresh year, fresh month. All the sentiment that is generally in play right | ||
| 99 | now tends to be challenged if not completely reversed. Or if it's going to | ||
| 100 | |||
| 101 | 21 | ||
| 102 | 00:03:27,840 ~-~-> 00:03:37,680 | ||
| 103 | continue usually there's a deep retracement that takes place before it starts to | ||
| 104 | resume. Then we've seen some bullishness on cable, we've now traded to an old | ||
| 105 | |||
| 106 | 22 | ||
| 107 | 00:03:37,710 ~-~-> 00:03:50,460 | ||
| 108 | high and through it, it did rather handsomely. But this was also one of the | ||
| 109 | reasons why I liked the euro dollar trade. Let's go down to a 15 minute chart. | ||
| 110 | |||
| 111 | 23 | ||
| 112 | 00:03:50,610 ~-~-> 00:03:59,430 | ||
| 113 | And we'll take a look at the cable on an intraday basis. Okay, so then we have a | ||
| 114 | 15 minute timeframe on cable. And this is delineating today's price action. And | ||
| 115 | |||
| 116 | 24 | ||
| 117 | 00:03:59,430 ~-~-> 00:04:08,460 | ||
| 118 | I want to draw your attention to several things here. Number one, this is a | ||
| 119 | rather sloppy, but still nonetheless, a market maker sell model, the | ||
| 120 | |||
| 121 | 25 | ||
| 122 | 00:04:08,460 ~-~-> 00:04:20,190 | ||
| 123 | consolidation I see right here is what I'm going to mark out for you. Okay, so | ||
| 124 | it's a clear, obvious range. And yes, we have a drop down here, but I'm looking | ||
| 125 | |||
| 126 | 26 | ||
| 127 | 00:04:20,190 ~-~-> 00:04:31,710 | ||
| 128 | at price action, creating consolidation in the run out, it returns back to the | ||
| 129 | range, re accumulation know the area of accumulation, it runs out the area of | ||
| 130 | |||
| 131 | 27 | ||
| 132 | 00:04:31,710 ~-~-> 00:04:42,000 | ||
| 133 | accumulation and makes the high Smart Money reversal, low risk cell | ||
| 134 | redistribution and it trades back down to what right below the original | ||
| 135 | |||
| 136 | 28 | ||
| 137 | 00:04:42,000 ~-~-> 00:04:51,090 | ||
| 138 | consolidation. And just for good measure does trade below this low back here the | ||
| 139 | low on this candle and just you know, this is an actual Live account. So it's | ||
| 140 | |||
| 141 | 29 | ||
| 142 | 00:04:51,090 ~-~-> 00:04:59,970 | ||
| 143 | not like my forex Ltd demo account. So the data, you're gonna be comparing it, | ||
| 144 | it's going to be slightly skewed. So just be mindful that what I'm showing you | ||
| 145 | |||
| 146 | 30 | ||
| 147 | 00:05:00,000 ~-~-> 00:05:12,630 | ||
| 148 | Today is a Live account only because it has had seamless price delivery, the | ||
| 149 | demo account for forex Ltd, which is what I usually use for my teaching. It's | ||
| 150 | |||
| 151 | 31 | ||
| 152 | 00:05:12,690 ~-~-> 00:05:13,770 | ||
| 153 | missing some data | ||
| 154 | |||
| 155 | 32 | ||
| 156 | 00:05:14,040 ~-~-> 00:05:25,290 | ||
| 157 | because of the holidays, and they tend to get crappy and really sloppy or with | ||
| 158 | their data couple times a year, but it is what it is. So the logon on this | ||
| 159 | |||
| 160 | 33 | ||
| 161 | 00:05:25,290 ~-~-> 00:05:41,370 | ||
| 162 | candle comes in at 134 93.9. And the low on this is 93. Three, so it's | ||
| 163 | definitely went below or not by much, but certainly did exactly what the market | ||
| 164 | |||
| 165 | 34 | ||
| 166 | 00:05:41,370 ~-~-> 00:05:51,450 | ||
| 167 | maker model for selling. Okay, in other words, they ramp up price price in a | ||
| 168 | premium, and then sell it off. Okay, that's what we've seen. And this is this | ||
| 169 | |||
| 170 | 35 | ||
| 171 | 00:05:51,810 ~-~-> 00:06:00,540 | ||
| 172 | old daily high. Okay, so that old daily high that's at that level is here, | ||
| 173 | 135 48 for this particular datafeed. And I want to draw in a couple things, I | ||
| 174 | |||
| 175 | 36 | ||
| 176 | 00:06:00,540 ~-~-> 00:06:08,580 | ||
| 177 | want to draw your attention to certain elements. And this is how I mark up the | ||
| 178 | charts. And this is how I print them. And it's not put them in my journal. Now I | ||
| 179 | |||
| 180 | 37 | ||
| 181 | 00:06:08,580 ~-~-> 00:06:19,110 | ||
| 182 | add other notes to them that are personal, which I think everyone should have | ||
| 183 | that measure of privacy in your charts. So I won't include everything in here. | ||
| 184 | |||
| 185 | 38 | ||
| 186 | 00:06:19,530 ~-~-> 00:06:26,550 | ||
| 187 | But I'll give you enough to give you an example. So we'll be doing this on a day | ||
| 188 | by day basis. And I won't be doing this much jawboning about it, it'll just be | ||
| 189 | |||
| 190 | 39 | ||
| 191 | 00:06:26,550 ~-~-> 00:06:34,050 | ||
| 192 | there. I'll talk about it. And it'll be a really short video. But since it's the | ||
| 193 | first video of the year, I got to give you something close to 30 minutes, right. | ||
| 194 | |||
| 195 | 40 | ||
| 196 | 00:06:35,580 ~-~-> 00:06:44,910 | ||
| 197 | So we're going to take a look at the Fibonacci on a few things in here, I want | ||
| 198 | you to take a look at this range here. Okay, and I'm going to introduce a | ||
| 199 | |||
| 200 | 41 | ||
| 201 | 00:06:44,910 ~-~-> 00:06:51,870 | ||
| 202 | concept that you if you're new to me, there's going to be something neat. | ||
| 203 | Alright, so what we're looking at here is a measurement of the highest and | ||
| 204 | |||
| 205 | 42 | ||
| 206 | 00:06:51,870 ~-~-> 00:07:01,260 | ||
| 207 | lowest point of this consolidation. And what makes us a consolidation. It should | ||
| 208 | be obvious when you look at price, when price is creating a box, or a rectangle | ||
| 209 | |||
| 210 | 43 | ||
| 211 | 00:07:01,260 ~-~-> 00:07:12,510 | ||
| 212 | in consolidation, and it leaves it it'll be obvious many times after the fact, | ||
| 213 | when you're new. Over time, you'll see these formations and they create | ||
| 214 | |||
| 215 | 44 | ||
| 216 | 00:07:13,020 ~-~-> 00:07:20,430 | ||
| 217 | equilibrium. Okay, equilibrium is the midway point in here. So that's what I'm | ||
| 218 | measuring. So I'm measuring the lowest low and the highest high Now usually, you | ||
| 219 | |||
| 220 | 45 | ||
| 221 | 00:07:20,430 ~-~-> 00:07:31,920 | ||
| 222 | see me using the Fibonacci, placing it on the highest close or open, near swing | ||
| 223 | high, or near its lowest close or open on a swing low. That's for entry | ||
| 224 | |||
| 225 | 46 | ||
| 226 | 00:07:31,920 ~-~-> 00:07:40,470 | ||
| 227 | purposes. Now when we're looking at equilibrium, we're looking at the entire or | ||
| 228 | total range, the total range is the highest high and the lowest low. So that | ||
| 229 | |||
| 230 | 47 | ||
| 231 | 00:07:40,470 ~-~-> 00:07:49,980 | ||
| 232 | element right here for equilibrium, that's going to be important. So we're gonna | ||
| 233 | draw a line on it, so that we can remove the Fibonacci and work with it in other | ||
| 234 | |||
| 235 | 48 | ||
| 236 | 00:07:49,980 ~-~-> 00:07:59,850 | ||
| 237 | parts of the chart. So we have our level here, I'm just going to descend this up | ||
| 238 | a little bit. And give it a different color, something to draw different | ||
| 239 | |||
| 240 | 49 | ||
| 241 | 00:07:59,850 ~-~-> 00:08:08,850 | ||
| 242 | contrast. So let's do that. So it's a little bit different. So we're drawing a | ||
| 243 | distinction between the old daily high here, and now we have an equilibrium | ||
| 244 | |||
| 245 | 50 | ||
| 246 | 00:08:08,880 ~-~-> 00:08:21,210 | ||
| 247 | measurement, which will be used momentarily. So now we have two reference points | ||
| 248 | that are important. We have an old daily high, which we're thinking maybe is a | ||
| 249 | |||
| 250 | 51 | ||
| 251 | 00:08:21,210 ~-~-> 00:08:31,140 | ||
| 252 | run above, they're building this premium in or pumping it before they dump it | ||
| 253 | above this daily high. We can also see the element of equal highs in here and | ||
| 254 | |||
| 255 | 52 | ||
| 256 | 00:08:31,140 ~-~-> 00:08:43,110 | ||
| 257 | another consolidation, we would expect to see a run above that. Here's the | ||
| 258 | midnight candle. New York time says the New York opening price. Again, it's not | ||
| 259 | |||
| 260 | 53 | ||
| 261 | 00:08:43,110 ~-~-> 00:08:52,230 | ||
| 262 | the New York session, it's the ICT, New York open price, okay, what we sit for a | ||
| 263 | trigger mechanism for buying and selling for the daily range for power three | ||
| 264 | |||
| 265 | 54 | ||
| 266 | 00:08:52,230 ~-~-> 00:09:01,680 | ||
| 267 | concepts. So we have the opening price here, you extend that out across the day | ||
| 268 | until around one closer so you can see the Judas swing here, curse it rallies | ||
| 269 | |||
| 270 | 55 | ||
| 271 | 00:09:01,680 ~-~-> 00:09:16,290 | ||
| 272 | up, takes out equal highs, breaks down comes right back with it retest. The | ||
| 273 | opening price sells off, consolidates right ahead of the equilibrium price point | ||
| 274 | |||
| 275 | 56 | ||
| 276 | 00:09:16,290 ~-~-> 00:09:27,090 | ||
| 277 | of this range, okay? And then slices through it aggressively and does not waste | ||
| 278 | any time. Immediately guns for the liquidity resting below the consolidation are | ||
| 279 | |||
| 280 | 57 | ||
| 281 | 00:09:27,090 ~-~-> 00:09:34,980 | ||
| 282 | here. And for good measure, it runs out the low here just by a little bit, but | ||
| 283 | any orders that are at that level or just below it spread would get you. Okay, | ||
| 284 | |||
| 285 | 58 | ||
| 286 | 00:09:34,980 ~-~-> 00:09:45,360 | ||
| 287 | so we see the market going consolidation again, we'll probably see a trade a | ||
| 288 | little bit lower just for good measure. And I want to talk about a few elements | ||
| 289 | |||
| 290 | 59 | ||
| 291 | 00:09:45,360 ~-~-> 00:09:56,280 | ||
| 292 | to how you can project this low. Not that this isn't enough because we can use | ||
| 293 | the market maker sell model for specific price levels. But I want to draw your | ||
| 294 | |||
| 295 | 60 | ||
| 296 | 00:09:56,280 ~-~-> 00:10:09,360 | ||
| 297 | attention back to this consolidation here. And we can see that one third 552 and | ||
| 298 | a half, if we draw a fib, okay, from the hi appear. | ||
| 299 | |||
| 300 | 61 | ||
| 301 | 00:10:11,190 ~-~-> 00:10:20,370 | ||
| 302 | Again now because we're working with equilibrium and ranges, you have to use the | ||
| 303 | highest and the lowest price points, these are not entry points, okay? I used | ||
| 304 | |||
| 305 | 62 | ||
| 306 | 00:10:20,460 ~-~-> 00:10:30,360 | ||
| 307 | the highest open or closed and the lowest open or closed in a swing point for | ||
| 308 | measuring my actual price entry points. That is not the same thing here. And | ||
| 309 | |||
| 310 | 63 | ||
| 311 | 00:10:30,390 ~-~-> 00:10:36,840 | ||
| 312 | please don't be confused or listen to people that don't really have any interest | ||
| 313 | in what I'm teaching, they're going to say, I'm changing the rules. Now I'm | ||
| 314 | |||
| 315 | 64 | ||
| 316 | 00:10:37,110 ~-~-> 00:10:45,480 | ||
| 317 | teaching you something entirely different. And amplifying why it's important to | ||
| 318 | use the total range the highest high and the lowest level words, when we're | ||
| 319 | |||
| 320 | 65 | ||
| 321 | 00:10:45,480 ~-~-> 00:10:53,940 | ||
| 322 | using equilibrium reference points, you have to use the wicks. Now if you're | ||
| 323 | looking for entry price points, you're only focusing on volume, where the most | ||
| 324 | |||
| 325 | 66 | ||
| 326 | 00:10:53,940 ~-~-> 00:11:02,910 | ||
| 327 | buying and selling is where you're going to be measuring that with the bodies of | ||
| 328 | the candles, we're not doing that here completely different animal altogether. | ||
| 329 | |||
| 330 | 67 | ||
| 331 | 00:11:03,570 ~-~-> 00:11:14,580 | ||
| 332 | So we're using the highest high, and we're going to drag it down. So what I'm | ||
| 333 | looking for is the equal equilibrium price point level on the Fed, which is this | ||
| 334 | |||
| 335 | 68 | ||
| 336 | 00:11:14,580 ~-~-> 00:11:22,290 | ||
| 337 | one right here, keep your eye on that. I'm going to drag that down until it | ||
| 338 | lines up with this blue line. And I'll explain it in a minute. | ||
| 339 | |||
| 340 | 69 | ||
| 341 | 00:11:31,289 ~-~-> 00:11:41,519 | ||
| 342 | Okay, so now what we have done, we've measured the high and projected all the | ||
| 343 | way down until the equilibrium on the fib lays rate on the equilibrium of this | ||
| 344 | |||
| 345 | 70 | ||
| 346 | 00:11:41,519 ~-~-> 00:11:51,299 | ||
| 347 | consolidation, so that we can get a measurement of market symmetry. When this is | ||
| 348 | done, you get a totally different appreciation for market precision that you | ||
| 349 | |||
| 350 | 71 | ||
| 351 | 00:11:51,299 ~-~-> 00:12:01,169 | ||
| 352 | can't get from books. Okay. So what you're not getting is the actual low of the | ||
| 353 | day, it doesn't deviate by one, Pip. It doesn't deviate. Short of it, it goes | ||
| 354 | |||
| 355 | 72 | ||
| 356 | 00:12:01,169 ~-~-> 00:12:12,149 | ||
| 357 | right to it. These are the elements I like to see come the third week of | ||
| 358 | January. Now, they will not always be this precise, they will not always give | ||
| 359 | |||
| 360 | 73 | ||
| 361 | 00:12:12,149 ~-~-> 00:12:21,989 | ||
| 362 | you this measure of symmetry. around these couple days right after the holidays. | ||
| 363 | It just so happens that the things would be there today to warn these types of | ||
| 364 | |||
| 365 | 74 | ||
| 366 | 00:12:22,019 ~-~-> 00:12:32,159 | ||
| 367 | deliveries. Now, there are elements in crypto, which is the interbank price | ||
| 368 | delivery algorithm, okay, which creates the high low of the day, all these | ||
| 369 | |||
| 370 | 75 | ||
| 371 | 00:12:32,159 ~-~-> 00:12:42,749 | ||
| 372 | things are factored in mathematically. And they have an overlap with fib. There | ||
| 373 | is an application of Fibonacci that I use. And it's not the same thing you see | ||
| 374 | |||
| 375 | 76 | ||
| 376 | 00:12:42,749 ~-~-> 00:12:52,649 | ||
| 377 | that's regurgitated among other retail educators and such. Look at a Fibonacci | ||
| 378 | book, study Fibonacci, and you find this in there. Okay, it won't be there. This | ||
| 379 | |||
| 380 | 77 | ||
| 381 | 00:12:52,649 ~-~-> 00:13:02,759 | ||
| 382 | is what I do. This is what I teach. Because I have studied it, I've looked at | ||
| 383 | it. I've studied the algorithmic price movement that takes place in forex, and | ||
| 384 | |||
| 385 | 78 | ||
| 386 | 00:13:02,759 ~-~-> 00:13:13,829 | ||
| 387 | other markets. And all these things are at salutely. Pre determined, okay. So | ||
| 388 | when you see hallmarks like this, it gets fascinating, you start reaching and | ||
| 389 | |||
| 390 | 79 | ||
| 391 | 00:13:13,859 ~-~-> 00:13:23,159 | ||
| 392 | digging in deeper and deeper and deeper. And because I'm obsessively compulsive, | ||
| 393 | I have what would otherwise be viewed as a impediment by other people. It's | ||
| 394 | |||
| 395 | 80 | ||
| 396 | 00:13:23,159 ~-~-> 00:13:33,839 | ||
| 397 | actually a asset for me, because I won't let go of something. When I have it. | ||
| 398 | And I smell blood, I'm going after it. So these elements I look for in price | ||
| 399 | |||
| 400 | 81 | ||
| 401 | 00:13:33,839 ~-~-> 00:13:42,779 | ||
| 402 | action, I look for points of equilibrium, I look for the models to be there at | ||
| 403 | right now we've outlined enough to justify why this market should have acted the | ||
| 404 | |||
| 405 | 82 | ||
| 406 | 00:13:42,779 ~-~-> 00:13:53,519 | ||
| 407 | way it did today. Now, I did not trade this particular pair. I was studying this | ||
| 408 | one. But I wanted to participate in the euro dollar. So let's take a look over | ||
| 409 | |||
| 410 | 83 | ||
| 411 | 00:13:53,519 ~-~-> 00:14:06,929 | ||
| 412 | at the euro dollar now. And we'll mark this one up as well. All right, so the | ||
| 413 | euro dollar, same premise we saw yesterday, a big run up in price. Okay, we're | ||
| 414 | |||
| 415 | 84 | ||
| 416 | 00:14:06,929 ~-~-> 00:14:17,489 | ||
| 417 | well above this old high here. And I knew in my gut that everyone would be | ||
| 418 | expecting this high to be taken out. What in this run here, we have the high at | ||
| 419 | |||
| 420 | 85 | ||
| 421 | 00:14:17,549 ~-~-> 00:14:30,599 | ||
| 422 | 120 80.3. And then we have the high here at 120 91. One, okay, so we fell short | ||
| 423 | of it. Everyone else would have been expecting this market high to be taken out, | ||
| 424 | |||
| 425 | 86 | ||
| 426 | 00:14:31,169 ~-~-> 00:14:46,379 | ||
| 427 | not me. So what I was looking for. And this was what gave me the the impulse to | ||
| 428 | want to be a seller. What I'm measuring here now because we're looking at entry | ||
| 429 | |||
| 430 | 87 | ||
| 431 | 00:14:46,379 ~-~-> 00:14:57,389 | ||
| 432 | points. Now we have to look at this element of the open in the high. In the low | ||
| 433 | arts. What we're looking for is the lowest open or close and the highest open or | ||
| 434 | |||
| 435 | 88 | ||
| 436 | 00:14:57,389 ~-~-> 00:15:07,289 | ||
| 437 | close relative to the swings. What I'm measuring is The most volume the actual | ||
| 438 | buying and selling that's occurred by looking at the bodies not the wicks Okay. | ||
| 439 | |||
| 440 | 89 | ||
| 441 | 00:15:08,789 ~-~-> 00:15:17,669 | ||
| 442 | Then what I do is I duplicate that range and I add it to the lowest open or | ||
| 443 | close again over here during this retracement and that gives me this high up | ||
| 444 | |||
| 445 | 90 | ||
| 446 | 00:15:17,669 ~-~-> 00:15:28,979 | ||
| 447 | here and we saw that high be pierced yesterday so I know we are really really | ||
| 448 | overbought and I didn't need to do any overbought indicator and RSI no Williams | ||
| 449 | |||
| 450 | 91 | ||
| 451 | 00:15:28,979 ~-~-> 00:15:40,079 | ||
| 452 | percent are no stochastics MACD, none of those things are necessary. We are | ||
| 453 | absolutely overbought, okay, we're overbought in relative terms to this high. In | ||
| 454 | |||
| 455 | 92 | ||
| 456 | 00:15:40,079 ~-~-> 00:15:48,089 | ||
| 457 | this low we are right at the top of the range. So I don't need an indicator to | ||
| 458 | tell me that we are overbought. So if we are overbought from a purely technical | ||
| 459 | |||
| 460 | 93 | ||
| 461 | 00:15:48,089 ~-~-> 00:15:59,639 | ||
| 462 | standpoint, not an indicator standpoint, a technical standpoint, and there is an | ||
| 463 | element of wanting to see that cable trade lower as well, I have two things | ||
| 464 | |||
| 465 | 94 | ||
| 466 | 00:15:59,639 ~-~-> 00:16:10,979 | ||
| 467 | going for me both cable wanting to suggest lower prices. Now euro dollar isn't | ||
| 468 | an area where it should look to sell off, I got a pretty good deal in terms of | ||
| 469 | |||
| 470 | 95 | ||
| 471 | 00:16:11,009 ~-~-> 00:16:18,449 | ||
| 472 | odds. So now what we're gonna do is we're gonna drop down into a 15 minute time | ||
| 473 | frame for the euro dollar, and do some analysis on that as well. | ||
| 474 | |||
| 475 | 96 | ||
| 476 | 00:16:18,570 ~-~-> 00:16:26,670 | ||
| 477 | Okay, so we're looking at the euro dollar to the 15 minute time frame. And I'm | ||
| 478 | gonna give you an idea what I acted on last night. And I did not want to stay up | ||
| 479 | |||
| 480 | 97 | ||
| 481 | 00:16:26,670 ~-~-> 00:16:35,880 | ||
| 482 | overnight, I didn't want to participate in London, I didn't want to do any of | ||
| 483 | those procedures that would otherwise lead well to entries, what I did was | ||
| 484 | |||
| 485 | 98 | ||
| 486 | 00:16:35,910 ~-~-> 00:16:47,490 | ||
| 487 | measured the highest body and the lowest body reference point relative to the | ||
| 488 | open or close. And that gives me an optimal trade entry rate in here. Okay, and | ||
| 489 | |||
| 490 | 99 | ||
| 491 | 00:16:47,640 ~-~-> 00:16:57,750 | ||
| 492 | admittedly, I was acting on this swing high right here. So we had a high, a | ||
| 493 | lower high and a lower high to the right of it. Okay, and then, on this candle | ||
| 494 | |||
| 495 | 100 | ||
| 496 | 00:16:57,750 ~-~-> 00:17:07,560 | ||
| 497 | right here was my entry. Okay, so as price was going up, because I'm having to | ||
| 498 | sell short when prices moving higher. That is a filter for me, I have to be a | ||
| 499 | |||
| 500 | 101 | ||
| 501 | 00:17:07,560 ~-~-> 00:17:17,310 | ||
| 502 | seller only when prices moving up. And I was using it as the middle of this | ||
| 503 | order block words. It was an upclose candle, I was anticipating a break down. It | ||
| 504 | |||
| 505 | 102 | ||
| 506 | 00:17:17,310 ~-~-> 00:17:27,120 | ||
| 507 | just so happens that it traded up higher. my stop loss was 35 pips. Okay, anyone | ||
| 508 | that understands my power three concept, I was using an early entry technique | ||
| 509 | |||
| 510 | 103 | ||
| 511 | 00:17:27,330 ~-~-> 00:17:39,510 | ||
| 512 | going around the Asian open and with the expectation that we have already made | ||
| 513 | the high the day before. So it should not trade through that. If I'm allowing | ||
| 514 | |||
| 515 | 104 | ||
| 516 | 00:17:39,510 ~-~-> 00:17:51,270 | ||
| 517 | myself to have a 35 PIP stop loss. I'm not concerned about anything. You can | ||
| 518 | just want to take some pips out I will look to mitigate the risk in that stop | ||
| 519 | |||
| 520 | 105 | ||
| 521 | 00:17:51,270 ~-~-> 00:18:03,420 | ||
| 522 | loss around the New York open. So we had price trade up, knock out this swing, | ||
| 523 | low swing high here. Come back into a bearish order block trades lower going | ||
| 524 | |||
| 525 | 106 | ||
| 526 | 00:18:03,450 ~-~-> 00:18:14,250 | ||
| 527 | Asian range comes back up here is the opening at midnight as the New York | ||
| 528 | opening price. We have our Judas swing here rallies back up to what 62% | ||
| 529 | |||
| 530 | 107 | ||
| 531 | 00:18:14,250 ~-~-> 00:18:28,320 | ||
| 532 | retracement level. Okay. Now had I been up, I would have sold short right here. | ||
| 533 | And then price breaks lower and ultimately reaches down into target to now let's | ||
| 534 | |||
| 535 | 108 | ||
| 536 | 00:18:28,320 ~-~-> 00:18:40,950 | ||
| 537 | draw a line out. You can see how that overlaps rather handsomely. Right there. | ||
| 538 | It's it, boom. Okay. So late in the day New York does in fact, hit that level. | ||
| 539 | |||
| 540 | 109 | ||
| 541 | 00:18:41,400 ~-~-> 00:18:52,470 | ||
| 542 | If you are not paying attention to this over here, which is something that you | ||
| 543 | shouldn't be doing if you're following my work. But you may have seen just this | ||
| 544 | |||
| 545 | 110 | ||
| 546 | 00:18:52,470 ~-~-> 00:19:04,710 | ||
| 547 | one. Again, because we're looking for entries, we're using the body's open highs | ||
| 548 | or closes the highest one and or the lowest open or close in the swing low. | ||
| 549 | |||
| 550 | 111 | ||
| 551 | 00:19:05,640 ~-~-> 00:19:16,080 | ||
| 552 | Again, beautiful symmetry 79% retracement level kicks off the swing trades | ||
| 553 | lower. What I was looking for was a move below this low. Okay, so I was looking | ||
| 554 | |||
| 555 | 112 | ||
| 556 | 00:19:16,080 ~-~-> 00:19:27,810 | ||
| 557 | for movement below here. And we know what's going to be resting below that cell | ||
| 558 | stops in the form of a 1020 and 30 PIP swing or sweep below that. And price does | ||
| 559 | |||
| 560 | 113 | ||
| 561 | 00:19:27,810 ~-~-> 00:19:47,220 | ||
| 562 | in fact go from here we have a low of 2025 and a half and the low comes in at | ||
| 563 | 24. So basically about 20 pips, a swing below that let the run out stops. Now I | ||
| 564 | |||
| 565 | 114 | ||
| 566 | 00:19:47,220 ~-~-> 00:19:54,120 | ||
| 567 | don't personally think that it's done. I think we'll probably leave this | ||
| 568 | consolidation and go a little bit lower. Probably clean out the low we like | ||
| 569 | |||
| 570 | 115 | ||
| 571 | 00:19:54,120 ~-~-> 00:20:03,360 | ||
| 572 | below here. I don't know if we're going to go any lower than that yet. But this | ||
| 573 | is certainly enough. For me to do an exercise on, and I took and put a very, | ||
| 574 | |||
| 575 | 116 | ||
| 576 | 00:20:03,360 ~-~-> 00:20:14,670 | ||
| 577 | very small amount of leverage on it, it was a Live account trade, I tweeted The, | ||
| 578 | the results of it, something like $54 and some change. But just to show that 30 | ||
| 579 | |||
| 580 | 117 | ||
| 581 | 00:20:14,670 ~-~-> 00:20:24,360 | ||
| 582 | some pips or so, which is what I teach is an objective. It's still possible. But | ||
| 583 | just because it's possible, I don't teach you or encourage you to go in there | ||
| 584 | |||
| 585 | 118 | ||
| 586 | 00:20:24,360 ~-~-> 00:20:33,450 | ||
| 587 | and do this. During this time of the year. I do it as a mode of practice. And I | ||
| 588 | still engage sometimes with a demo account in this time of the year. But I do | ||
| 589 | |||
| 590 | 119 | ||
| 591 | 00:20:33,450 ~-~-> 00:20:44,880 | ||
| 592 | not actively go in with my normal leverage, or with a Live account until around | ||
| 593 | the third week of January. Okay. So hopefully this is, you know, gave me some | ||
| 594 | |||
| 595 | 120 | ||
| 596 | 00:20:45,300 ~-~-> 00:20:54,840 | ||
| 597 | more clarity about what we can do with Fibonacci and elements about Fibonacci in | ||
| 598 | equilibrium, and still finding precision. It just so happens that these two | ||
| 599 | |||
| 600 | 121 | ||
| 601 | 00:20:54,840 ~-~-> 00:21:05,130 | ||
| 602 | examples are pretty precise, but I don't like to anticipate or expect that. This | ||
| 603 | immediately after the holidays. Generally, the markets can be rather fickle, and | ||
| 604 | |||
| 605 | 122 | ||
| 606 | 00:21:05,130 ~-~-> 00:21:15,120 | ||
| 607 | have really no symmetry whatsoever. But as you see here, it's relatively | ||
| 608 | symmetrical. Even though it's sloppy in here, a lot of reaching low or lower, it | ||
| 609 | |||
| 610 | 123 | ||
| 611 | 00:21:15,120 ~-~-> 00:21:17,430 | ||
| 612 | ultimately goes to where we would reasonably expect it to go to. | ||
| 613 | |||
| 614 | 124 | ||
| 615 | 00:21:17,850 ~-~-> 00:21:22,500 | ||
| 616 | Okay, so until next time, I wish you good luck and good trading. |