Wiki source code of ICT YT - 2018-01-03 - ICT January 03 2018.srt
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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. |