Changes for page ICT YT - 2018-01-04 - ICT January 04 2018.srt

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--ICT: Good afternoon folks. So not too much to talk about for demo account for x.
--So we're going to talk about the ripple versus the Dollar. I've been actively
++(% class="hover min" %)
++|1 |00:00:18,390 ~-~-> 00:00:32,670 |ICT: Good afternoon folks. So not too much to talk about for demo account for x. So we're going to talk about the ripple versus the Dollar. I've been actively
++|2 |00:00:32,670 ~-~-> 00:00:45,750 |following this cryptocurrency. And notice I said, Follow, I did not trade it. So everything I'm saying, Here's really just an opinion. It's not trade advice. I'm
++|3 |00:00:45,750 ~-~-> 00:00:57,390 |personally not interested in actually trading it. I'm studying it actively, as I admitted on my Twitter account. I've been following ripple, Litecoin, and
++|4 |00:00:58,050 ~-~-> 00:01:13,650 |Bitcoin. So I know there's a lot of fever about these markets right now. And anything moving draws a attention of everyone. And obviously, he's got my
++|5 |00:01:13,650 ~-~-> 00:01:24,180 |attention now. But I guess I'm not in this. And the things I'm going to say here, not advice. Nothing I ever say his advice is always on a demo account
++|6 |00:01:24,210 ~-~-> 00:01:36,240 |setting for that reason. It's just really meant to stimulate your thinking. And whatever happens is, you know, ultimately, your responsibility. So if you do
++|7 |00:01:36,240 ~-~-> 00:01:44,250 |anything acting on any of these insights that I'm sharing, from an opinion standpoint, you know, I don't want to credit for it. And I certainly don't want
++|8 |00:01:44,250 ~-~-> 00:01:54,300 |here to grief about it if you've lost money trading these, these markets, because I personally am not in them. And I just want to study what I look at, in
++|9 |00:01:54,300 ~-~-> 00:02:03,870 |technical analysis that I do in demo account setting for forex, those concepts I share publicly, are they happening in the crypto markets. And as you can see
++|10 |00:02:03,870 ~-~-> 00:02:20,430 |here, some of the levels, I've shared them pretty influential in terms of this crypto this morning, just want to go over here, pull this back up. I tweeted, an
++|11 |00:02:20,430 ~-~-> 00:02:35,010 |article here from daily FX. And the title was the rise and rise of alt coins. Now, this actually is the same type of heading that I was reading with Bitcoin.
++|12 |00:02:35,850 ~-~-> 00:02:49,350 |Just before December. And you know what happened in December? You know, I was talking rather candidly about how we wouldn't see 20,000 in 2017. And the very
++|13 |00:02:49,350 ~-~-> 00:02:59,340 |day that I said it, and why should slide we ended up making a high in Bitcoin. Well, there's actually a movie or documentary, at least when I go through my
++|14 |00:02:59,880 ~-~-> 00:03:10,650 |cable provider, they're saying online, own domain rather, program have not sat down and watched it. So if you know what I'm referring to when it says the rise
++|15 |00:03:10,650 ~-~-> 00:03:19,830 |and rise of Bitcoin? I'm not sure I'm assuming it's a documentary. But if it isn't, you know, whatever it is, the title grabbed me this morning when I saw
++|16 |00:03:19,830 ~-~-> 00:03:31,350 |this headline, because this is same type of thing I saw right before Bitcoin top. So whenever there's a headline campaign, or whenever there's a very
++|17 |00:03:31,350 ~-~-> 00:03:45,000 |emotionally charged or directionally focused headline campaign, it generally works to be contrarian to what would be seen, like for instance, if you look at
++|18 |00:03:45,000 ~-~-> 00:03:57,030 |this, the rise and rise of alt coins, when when the average person reads that it inspires and entices those individuals reading it, to assume that it's what a
++|19 |00:03:57,030 ~-~-> 00:04:08,340 |good buy or good sell, obviously, it's implying that it's bullish, without saying so. So I mentioned that this morning. And I actually shared a couple
++|20 |00:04:08,340 ~-~-> 00:04:21,900 |things on Twitter by way of charts. And one of the objectives, you know, was, obviously the three hour mark. And then, as random as it may seem here, the $3
++|21 |00:04:21,900 ~-~-> 00:04:31,890 |and 30 cent mark, and these were highlighted in put in Twitter beforehand. I did not go through the trouble going through Twitter to actually find the tweets.
++|22 |00:04:32,190 ~-~-> 00:04:44,520 |And you can go find it yourself on January 4 2018. And you'll see that it's basically updating tweets that posted several days ago, and noted that 170
++|23 |00:04:44,550 ~-~-> 00:04:56,070 |buyers would be looking to see that level, the recapitalizing or accumulating new long positions. That's based on simply just an optimal trade entry, and
++|24 |00:04:56,070 ~-~-> 00:05:04,950 |finding a bullish order block. It's all used for that analysis in the market. consolidated casino and optimal trade entry here, another ones in here. And we
++|25 |00:05:04,950 ~-~-> 00:05:16,200 |had one in here. And price went to the three hour mark came back down another optimal trade entry here, taking us right up into $3 and 30.
++|26 |00:05:16,530 ~-~-> 00:05:17,010 |level.
++|27 |00:05:18,810 ~-~-> 00:05:30,150 |The high comes in at Surrey 31.7. So for a market that I don't really follow too much, that's pretty accurate. And you can see the response since then. Now, I
++|28 |00:05:30,150 ~-~-> 00:05:38,730 |did tweet that if I were in this market, in a demo account setting again, I'm not trading with live money. You guys see how I take partial profits? In my demo
++|29 |00:05:38,730 ~-~-> 00:05:49,020 |account for forex? I mentioned that I would be 80% out of the position when it hits $3. And then when went up to here, and that would be obviously what a level
++|30 |00:05:49,020 ~-~-> 00:05:59,730 |to take profit as well. So if you only had 20%, on from here, how much you gonna take off here? What would what would hit been been for you? Would you take off
++|31 |00:05:59,730 ~-~-> 00:06:10,710 |10%? Would you take all of it off, take 5% 15% on wait for these other levels I shared because it had, if it had legs to continue 350 would have been objective,
++|32 |00:06:10,710 ~-~-> 00:06:23,910 |I've been looking forward and 370 and ultimately 380. That's what this love was highlighting here. But I indicated on Twitter, take a look at ripple. And what
++|33 |00:06:23,910 ~-~-> 00:06:38,130 |we were doing was we were trading back up into an old area of distribution. So if we look at this series of green candles here, this is actually one complete
++|34 |00:06:38,130 ~-~-> 00:06:48,330 |bearish order block. Okay, so this is a 30 minute chart, half of that range would be approximately right here. So we were trading back about the midpoint of
++|35 |00:06:48,330 ~-~-> 00:06:59,310 |that, or what I teach is the mean threshold. Typically, they'll act as a kind of a hidden resistance in this case, because it's a bearish order block and prices
++|36 |00:06:59,310 ~-~-> 00:07:11,430 |now since broke. Now he did take this low out now that's much more meaningful. And it's also a ICT bearish breaker. So the down closed candle right before a
++|37 |00:07:11,460 ~-~-> 00:07:22,860 |new high with previous highs taken, then it breaks down. That becomes a bearish pattern. You can see price trades on this upclose candle here, nails into it
++|38 |00:07:22,860 ~-~-> 00:07:33,960 |there and then trades lower as you would expect for an ice breaker. Where do I think it's going to go? Well, we do have this high here in this high here. From
++|39 |00:07:33,960 ~-~-> 00:07:45,060 |a from a market structure standpoint, this may provide a near term support level and it's probably what we're going to see $2.40 if it bounces there, it's going
++|40 |00:07:45,060 ~-~-> 00:07:56,130 |to have to get through this breaker for me to go back to looking for it to be bullish again. It's just too many things. In the storylines, it's really built
++|41 |00:07:56,130 ~-~-> 00:08:05,190 |in a premium. So it's costly right now. And a lot of people are probably seeing this. And you know, if it's going to be going higher, longer term, it's going to
++|42 |00:08:05,190 ~-~-> 00:08:15,360 |want to go lower first. Okay, because it's had a really good run. Let's see if I can zoom out here, you can see that I gave several examples prior to all that.
++|43 |00:08:16,980 ~-~-> 00:08:44,070 |And yeah, read in here. ahead and objective to reach for that 120 level. And we got that and sold off. And I was wrong about it going down to 65, it only went
++|44 |00:08:44,070 ~-~-> 00:08:58,380 |down to the low was 67. So I was off a little bit there. I thought they would hit the 65 level again before going higher. So did tweet that just for
++|45 |00:08:58,680 ~-~-> 00:09:07,230 |disclosure sake, I don't want to sound like I'm only pulling out the sugar. There's some vinegar there too. But you can see we've had some real nice nice
++|46 |00:09:07,230 ~-~-> 00:09:18,180 |distribution at the three hour and 30 cent mark on ripple. And I shared that with you before the fact everything was worked out in Twitter, in chart form, so
++|47 |00:09:18,180 ~-~-> 00:09:24,660 |you can see the levels I was looking for. And it's all just picking out key price levels, and then studying and seeing to get the reaction off of it. If you
++|48 |00:09:24,660 ~-~-> 00:09:32,670 |get the reaction then you go in with the technicals that I teach by way of a demo account. And you practice and you practice and practice until you get good
++|49 |00:09:32,670 ~-~-> 00:09:45,450 |at reading price. This is not my asset class of choice. But I'm encouraged as a technician that studies price action in other asset classes like stocks and
++|50 |00:09:45,510 ~-~-> 00:09:55,980 |commodities and forex. I look for things in price action to give me clues to build an opinion and I love watching how price develops as a result of that. And
++|51 |00:09:55,980 ~-~-> 00:10:06,330 |I'm really fascinated to see the things that I teach start seeing in the price action of these cryptocurrency states, it's really, you know, fascinating for me
++|52 |00:10:06,420 ~-~-> 00:10:13,950 |to see the very things that students that study my stuff, through forex and applied it to crypto,
++|53 |00:10:14,700 ~-~-> 00:10:25,110 |I can see why they're excited. And it's really fascinating to see it be as precise as you everyone else has told me it was. Me, I'm used to seeing it being
++|54 |00:10:25,110 ~-~-> 00:10:35,100 |precise in regards to demoing, on forex, and on futures. But, like I said, I've never really actively looked at for crypto until just recently. So we've seen
++|55 |00:10:35,760 ~-~-> 00:10:43,770 |some really nice examples of that, or at least I have, I mean, most of you would have been using it really longer than I have. But you've convinced me along with
++|56 |00:10:43,770 ~-~-> 00:10:54,480 |a family member. So it should we get down to $2.40, it would need again, to get back above the breaker here. So I think any rally up from there, it's going to
++|57 |00:10:54,480 ~-~-> 00:11:05,460 |be met with some measure resistance could come back up here and and try to touch this bearish order block here. And that would also be another resistance idea at
++|58 |00:11:05,460 ~-~-> 00:11:15,870 |that $3 mark. So it says make it simple, it needs to get back above three hours before I would be a buyer again, that means I would lose any portion of price
++|59 |00:11:15,870 ~-~-> 00:11:23,340 |action above this high here on initial run. Now just wait for it to retrace for an optimal trade entry. And I would start picking it up there and falling it on
++|60 |00:11:23,340 ~-~-> 00:11:31,320 |a pay per trade basis there. So I'm going very clear, this is not trading advice. This is my personal observations, what I would expect now should $2.40
++|61 |00:11:31,320 ~-~-> 00:11:38,940 |break and get away. We have liquidity resting right below this low here. Why am I picking this one because the most dynamic response off of it. So the average
++|62 |00:11:38,970 ~-~-> 00:11:48,810 |eye or retail mind is going to see that low as the most favorable support level. Because it's found support there and repelled price away, we have a smaller one
++|63 |00:11:48,810 ~-~-> 00:11:58,530 |here, I'm not so excited about that one, because it's just below this old high. So I think it's going to go that low, it's going to seek a little bit lower
++|64 |00:11:58,530 ~-~-> 00:12:07,170 |liquidity pool, and I think it's gonna be this one here. So we would have to watch that $2 mark. So it could be a nice decent range to work within your
++|65 |00:12:07,170 ~-~-> 00:12:16,500 |practice if it goes below 240 $2. And then we could trade back up to around a $3 mark. And what we do beyond that would have to be seen for me to be bullish. But
++|66 |00:12:16,500 ~-~-> 00:12:24,660 |it certainly if we get down to $2, that could be a bounce idea for it to get up to here. Or if this range stays intact, it could be a return back to this
++|67 |00:12:24,660 ~-~-> 00:12:33,300 |bearish order block here in the $2 and 80 cent mark. Okay, so several levels in the watch. And it sounds rather ambiguous. It wasn't as clean as the levels I
++|68 |00:12:33,300 ~-~-> 00:12:41,430 |was giving you here as we marched up. But that's how trading is. So that's why it's important to trade in a demo account and learn to see what your setup is.
++|69 |00:12:42,060 ~-~-> 00:12:51,510 |And you'll find it by seeing price action over and over again, seeing how it's formed in the past. And then watching these levels and see if those setups form.
++|70 |00:12:51,570 ~-~-> 00:13:00,840 |If there's those form at the level that you've already predetermined that may form a setup, then you have, at least in my opinion, more likely odds of your
++|71 |00:13:00,840 ~-~-> 00:13:11,760 |study in your demo, painting out to a favor welcome. So I'm not sure is there even a demo account for you guys that know about crypto better than idea? Is
++|72 |00:13:11,760 ~-~-> 00:13:20,190 |there a demo account that you can trade crypto on? I'd like to be able to do something with that as well. You guys, if you don't mind to tweet me something
++|73 |00:13:20,220 ~-~-> 00:13:28,290 |in regards to that, I'd appreciate it. And Bitcoin. I'm neutral on I mentioned this before, initially, I was looking for
++|74 |00:13:29,760 ~-~-> 00:13:39,360 |price to respect, if I'm not mistaken this range in here. And we were in here and I said that we would probably look for a lower low, we've consolidated and
++|75 |00:13:39,360 ~-~-> 00:13:50,010 |then we punch back above the 15 100 level. And I said that would be a callus back here to be bullish. We had consolidated. I don't want to see that if it
++|76 |00:13:50,010 ~-~-> 00:14:00,060 |trades back up to 15. One that way, I don't like it. That's why I tweeted, I'm neutral on Bitcoin. Okay, and we've seen it consolidate further in here. I'd
++|77 |00:14:00,060 ~-~-> 00:14:10,200 |like to see it really try to make a run on the liquidity below the marketplace. I'm not terribly bullish in here, I think that like I said, if this currency, or
++|78 |00:14:10,200 ~-~-> 00:14:18,780 |cryptocurrency is going to go higher, they're gonna want to take the the long holders out, okay, and there's liquidity below these equal lows here and below
++|79 |00:14:18,780 ~-~-> 00:14:28,140 |this oh well as well. So this could be very easily punched through made equal highs, it could go up there and run that turtle soup sell, faded and go lower
++|80 |00:14:28,170 ~-~-> 00:14:41,700 |and then start working lower end of the range. And they go a run back below that 12,000 level. But I'm not. I'm not convinced that this is a good buy. It doesn't
++|81 |00:14:41,700 ~-~-> 00:14:50,370 |look like accumulation in here at all. Even though we can map out all kinds of optimal trade entries here. I don't view it as bullish. I think there's an
++|82 |00:14:50,370 ~-~-> 00:15:00,480 |underlying tone to Bitcoin right now. That's going to be problematic for the bulls. Now obviously, I got new skin in the race here so I can be a pain Because
++|83 |00:15:00,480 ~-~-> 00:15:09,930 |it causes me no harm if I'm wrong, but I'm being honest with you in regards to how I use the tools and concepts that I work with. And I personally, me
++|84 |00:15:09,930 ~-~-> 00:15:18,780 |personally don't see something in here as a buy. If I was trading this with my own demo account, or if I had real money in it, I wouldn't be doing anything
++|85 |00:15:18,780 ~-~-> 00:15:27,150 |with it at all. I wouldn't be doing anything at all, my attention would be really focused back on ripple. And I would be actively following that one.
++|86 |00:15:27,780 ~-~-> 00:15:37,500 |Because I think there's levels I mentioned earlier are going to be significant going forward. Okay. So I'm not sure if this was any value to you. Like I said,
++|87 |00:15:37,500 ~-~-> 00:15:46,980 |I'm learning this crypto stuff as I go. I spend a little bit of time with it each day. And so far, it's been a really interesting study on my own. I like
++|88 |00:15:47,700 ~-~-> 00:15:58,080 |what I've found in price action, like the responsiveness that one would expect, using the stuff I teach in demo for forex. So I'm going to continue plowing away
++|89 |00:15:58,080 ~-~-> 00:16:07,440 |at it and see if I can gain any more better understanding about it. And so hopefully, I'll be more insightful for you guys to actually trade it. Again, I'm
++|90 |00:16:07,440 ~-~-> 00:16:21,510 |not trying to provide you advice, but I'm just going to agree. Okay. If you asked if this is a an ICT concept and a chart, yeah, I cannot say yeah, I can
++|91 |00:16:21,510 ~-~-> 00:16:30,750 |see that. But I don't ever want you to take that as a investment advice or enticement to do something with real money. Because Personally, I'm not invested
++|92 |00:16:30,750 ~-~-> 00:16:41,670 |in this stuff. I'm not really actively trading it, I don't have any money at risk. And it would be unfair for me to try to give you that image, okay, or
++|93 |00:16:41,670 ~-~-> 00:16:50,430 |portray that, because I'm not really in it. But I am personally studying it as I teach everyone to do with forex. In a demo, study, study study, I'm doing that
++|94 |00:16:50,430 ~-~-> 00:16:59,490 |same thing. Without the capacity of a demo account. I'm just paper trading and studying it with just technicals written on a chart. And I'm saving the charts
++|95 |00:16:59,490 ~-~-> 00:17:07,800 |and I'm keeping these as reminders of the things that I look for in price action, other asset classes. They materialize or they have been to this point
++|96 |00:17:07,890 ~-~-> 00:17:19,980 |materializing in crypto. So until tomorrow, it's non farm payroll Friday, I will probably share my opinions about what I think the market will seek before the
++|97 |00:17:19,980 ~-~-> 00:17:27,780 |numbers come out tomorrow. Again, that's not a trade advice. It's not enticement to take a trade. This is my opinion about what I think they'll run for four stop
++|98 |00:17:27,780 ~-~-> 00:17:36,450 |running. And apart from that, I would be on the sidelines. If you were reading in the market for real trades, live money. I wouldn't be doing it now teach
++|99 |00:17:36,450 ~-~-> 00:17:42,930 |against that anyway. So not for professionals. That's what NFP stands for with us until then, which Good luck and good trading.
--2
--00:00:32,670 ~-~-> 00:00:45,750
--following this cryptocurrency. And notice I said, Follow, I did not trade it. So
--everything I'm saying, Here's really just an opinion. It's not trade advice. I'm
--
--3
--00:00:45,750 ~-~-> 00:00:57,390
--personally not interested in actually trading it. I'm studying it actively, as I
--admitted on my Twitter account. I've been following ripple, Litecoin, and
--
--4
--00:00:58,050 ~-~-> 00:01:13,650
--Bitcoin. So I know there's a lot of fever about these markets right now. And
--anything moving draws a attention of everyone. And obviously, he's got my
--
--5
--00:01:13,650 ~-~-> 00:01:24,180
--attention now. But I guess I'm not in this. And the things I'm going to say
--here, not advice. Nothing I ever say his advice is always on a demo account
--
--6
--00:01:24,210 ~-~-> 00:01:36,240
--setting for that reason. It's just really meant to stimulate your thinking. And
--whatever happens is, you know, ultimately, your responsibility. So if you do
--
--7
--00:01:36,240 ~-~-> 00:01:44,250
--anything acting on any of these insights that I'm sharing, from an opinion
--standpoint, you know, I don't want to credit for it. And I certainly don't want
--
--8
--00:01:44,250 ~-~-> 00:01:54,300
--here to grief about it if you've lost money trading these, these markets,
--because I personally am not in them. And I just want to study what I look at, in
--
--9
--00:01:54,300 ~-~-> 00:02:03,870
--technical analysis that I do in demo account setting for forex, those concepts I
--share publicly, are they happening in the crypto markets. And as you can see
--
--10
--00:02:03,870 ~-~-> 00:02:20,430
--here, some of the levels, I've shared them pretty influential in terms of this
--crypto this morning, just want to go over here, pull this back up. I tweeted, an
--
--11
--00:02:20,430 ~-~-> 00:02:35,010
--article here from daily FX. And the title was the rise and rise of alt coins.
--Now, this actually is the same type of heading that I was reading with Bitcoin.
--
--12
--00:02:35,850 ~-~-> 00:02:49,350
--Just before December. And you know what happened in December? You know, I was
--talking rather candidly about how we wouldn't see 20,000 in 2017. And the very
--
--13
--00:02:49,350 ~-~-> 00:02:59,340
--day that I said it, and why should slide we ended up making a high in Bitcoin.
--Well, there's actually a movie or documentary, at least when I go through my
--
--14
--00:02:59,880 ~-~-> 00:03:10,650
--cable provider, they're saying online, own domain rather, program have not sat
--down and watched it. So if you know what I'm referring to when it says the rise
--
--15
--00:03:10,650 ~-~-> 00:03:19,830
--and rise of Bitcoin? I'm not sure I'm assuming it's a documentary. But if it
--isn't, you know, whatever it is, the title grabbed me this morning when I saw
--
--16
--00:03:19,830 ~-~-> 00:03:31,350
--this headline, because this is same type of thing I saw right before Bitcoin
--top. So whenever there's a headline campaign, or whenever there's a very
--
--17
--00:03:31,350 ~-~-> 00:03:45,000
--emotionally charged or directionally focused headline campaign, it generally
--works to be contrarian to what would be seen, like for instance, if you look at
--
--18
--00:03:45,000 ~-~-> 00:03:57,030
--this, the rise and rise of alt coins, when when the average person reads that it
--inspires and entices those individuals reading it, to assume that it's what a
--
--19
--00:03:57,030 ~-~-> 00:04:08,340
--good buy or good sell, obviously, it's implying that it's bullish, without
--saying so. So I mentioned that this morning. And I actually shared a couple
--
--20
--00:04:08,340 ~-~-> 00:04:21,900
--things on Twitter by way of charts. And one of the objectives, you know, was,
--obviously the three hour mark. And then, as random as it may seem here, the $3
--
--21
--00:04:21,900 ~-~-> 00:04:31,890
--and 30 cent mark, and these were highlighted in put in Twitter beforehand. I did
--not go through the trouble going through Twitter to actually find the tweets.
--
--22
--00:04:32,190 ~-~-> 00:04:44,520
--And you can go find it yourself on January 4 2018. And you'll see that it's
--basically updating tweets that posted several days ago, and noted that 170
--
--23
--00:04:44,550 ~-~-> 00:04:56,070
--buyers would be looking to see that level, the recapitalizing or accumulating
--new long positions. That's based on simply just an optimal trade entry, and
--
--24
--00:04:56,070 ~-~-> 00:05:04,950
--finding a bullish order block. It's all used for that analysis in the market.
--consolidated casino and optimal trade entry here, another ones in here. And we
--
--25
--00:05:04,950 ~-~-> 00:05:16,200
--had one in here. And price went to the three hour mark came back down another
--optimal trade entry here, taking us right up into $3 and 30.
--
--26
--00:05:16,530 ~-~-> 00:05:17,010
--level.
--
--27
--00:05:18,810 ~-~-> 00:05:30,150
--The high comes in at Surrey 31.7. So for a market that I don't really follow too
--much, that's pretty accurate. And you can see the response since then. Now, I
--
--28
--00:05:30,150 ~-~-> 00:05:38,730
--did tweet that if I were in this market, in a demo account setting again, I'm
--not trading with live money. You guys see how I take partial profits? In my demo
--
--29
--00:05:38,730 ~-~-> 00:05:49,020
--account for forex? I mentioned that I would be 80% out of the position when it
--hits $3. And then when went up to here, and that would be obviously what a level
--
--30
--00:05:49,020 ~-~-> 00:05:59,730
--to take profit as well. So if you only had 20%, on from here, how much you gonna
--take off here? What would what would hit been been for you? Would you take off
--
--31
--00:05:59,730 ~-~-> 00:06:10,710
--10%? Would you take all of it off, take 5% 15% on wait for these other levels I
--shared because it had, if it had legs to continue 350 would have been objective,
--
--32
--00:06:10,710 ~-~-> 00:06:23,910
--I've been looking forward and 370 and ultimately 380. That's what this love was
--highlighting here. But I indicated on Twitter, take a look at ripple. And what
--
--33
--00:06:23,910 ~-~-> 00:06:38,130
--we were doing was we were trading back up into an old area of distribution. So
--if we look at this series of green candles here, this is actually one complete
--
--34
--00:06:38,130 ~-~-> 00:06:48,330
--bearish order block. Okay, so this is a 30 minute chart, half of that range
--would be approximately right here. So we were trading back about the midpoint of
--
--35
--00:06:48,330 ~-~-> 00:06:59,310
--that, or what I teach is the mean threshold. Typically, they'll act as a kind of
--a hidden resistance in this case, because it's a bearish order block and prices
--
--36
--00:06:59,310 ~-~-> 00:07:11,430
--now since broke. Now he did take this low out now that's much more meaningful.
--And it's also a ICT bearish breaker. So the down closed candle right before a
--
--37
--00:07:11,460 ~-~-> 00:07:22,860
--new high with previous highs taken, then it breaks down. That becomes a bearish
--pattern. You can see price trades on this upclose candle here, nails into it
--
--38
--00:07:22,860 ~-~-> 00:07:33,960
--there and then trades lower as you would expect for an ice breaker. Where do I
--think it's going to go? Well, we do have this high here in this high here. From
--
--39
--00:07:33,960 ~-~-> 00:07:45,060
--a from a market structure standpoint, this may provide a near term support level
--and it's probably what we're going to see $2.40 if it bounces there, it's going
--
--40
--00:07:45,060 ~-~-> 00:07:56,130
--to have to get through this breaker for me to go back to looking for it to be
--bullish again. It's just too many things. In the storylines, it's really built
--
--41
--00:07:56,130 ~-~-> 00:08:05,190
--in a premium. So it's costly right now. And a lot of people are probably seeing
--this. And you know, if it's going to be going higher, longer term, it's going to
--
--42
--00:08:05,190 ~-~-> 00:08:15,360
--want to go lower first. Okay, because it's had a really good run. Let's see if I
--can zoom out here, you can see that I gave several examples prior to all that.
--
--43
--00:08:16,980 ~-~-> 00:08:44,070
--And yeah, read in here. ahead and objective to reach for that 120 level. And we
--got that and sold off. And I was wrong about it going down to 65, it only went
--
--44
--00:08:44,070 ~-~-> 00:08:58,380
--down to the low was 67. So I was off a little bit there. I thought they would
--hit the 65 level again before going higher. So did tweet that just for
--
--45
--00:08:58,680 ~-~-> 00:09:07,230
--disclosure sake, I don't want to sound like I'm only pulling out the sugar.
--There's some vinegar there too. But you can see we've had some real nice nice
--
--46
--00:09:07,230 ~-~-> 00:09:18,180
--distribution at the three hour and 30 cent mark on ripple. And I shared that
--with you before the fact everything was worked out in Twitter, in chart form, so
--
--47
--00:09:18,180 ~-~-> 00:09:24,660
--you can see the levels I was looking for. And it's all just picking out key
--price levels, and then studying and seeing to get the reaction off of it. If you
--
--48
--00:09:24,660 ~-~-> 00:09:32,670
--get the reaction then you go in with the technicals that I teach by way of a
--demo account. And you practice and you practice and practice until you get good
--
--49
--00:09:32,670 ~-~-> 00:09:45,450
--at reading price. This is not my asset class of choice. But I'm encouraged as a
--technician that studies price action in other asset classes like stocks and
--
--50
--00:09:45,510 ~-~-> 00:09:55,980
--commodities and forex. I look for things in price action to give me clues to
--build an opinion and I love watching how price develops as a result of that. And
--
--51
--00:09:55,980 ~-~-> 00:10:06,330
--I'm really fascinated to see the things that I teach start seeing in the price
--action of these cryptocurrency states, it's really, you know, fascinating for me
--
--52
--00:10:06,420 ~-~-> 00:10:13,950
--to see the very things that students that study my stuff, through forex and
--applied it to crypto,
--
--53
--00:10:14,700 ~-~-> 00:10:25,110
--I can see why they're excited. And it's really fascinating to see it be as
--precise as you everyone else has told me it was. Me, I'm used to seeing it being
--
--54
--00:10:25,110 ~-~-> 00:10:35,100
--precise in regards to demoing, on forex, and on futures. But, like I said, I've
--never really actively looked at for crypto until just recently. So we've seen
--
--55
--00:10:35,760 ~-~-> 00:10:43,770
--some really nice examples of that, or at least I have, I mean, most of you would
--have been using it really longer than I have. But you've convinced me along with
--
--56
--00:10:43,770 ~-~-> 00:10:54,480
--a family member. So it should we get down to $2.40, it would need again, to get
--back above the breaker here. So I think any rally up from there, it's going to
--
--57
--00:10:54,480 ~-~-> 00:11:05,460
--be met with some measure resistance could come back up here and and try to touch
--this bearish order block here. And that would also be another resistance idea at
--
--58
--00:11:05,460 ~-~-> 00:11:15,870
--that $3 mark. So it says make it simple, it needs to get back above three hours
--before I would be a buyer again, that means I would lose any portion of price
--
--59
--00:11:15,870 ~-~-> 00:11:23,340
--action above this high here on initial run. Now just wait for it to retrace for
--an optimal trade entry. And I would start picking it up there and falling it on
--
--60
--00:11:23,340 ~-~-> 00:11:31,320
--a pay per trade basis there. So I'm going very clear, this is not trading
--advice. This is my personal observations, what I would expect now should $2.40
--
--61
--00:11:31,320 ~-~-> 00:11:38,940
--break and get away. We have liquidity resting right below this low here. Why am
--I picking this one because the most dynamic response off of it. So the average
--
--62
--00:11:38,970 ~-~-> 00:11:48,810
--eye or retail mind is going to see that low as the most favorable support level.
--Because it's found support there and repelled price away, we have a smaller one
--
--63
--00:11:48,810 ~-~-> 00:11:58,530
--here, I'm not so excited about that one, because it's just below this old high.
--So I think it's going to go that low, it's going to seek a little bit lower
--
--64
--00:11:58,530 ~-~-> 00:12:07,170
--liquidity pool, and I think it's gonna be this one here. So we would have to
--watch that $2 mark. So it could be a nice decent range to work within your
--
--65
--00:12:07,170 ~-~-> 00:12:16,500
--practice if it goes below 240 $2. And then we could trade back up to around a $3
--mark. And what we do beyond that would have to be seen for me to be bullish. But
--
--66
--00:12:16,500 ~-~-> 00:12:24,660
--it certainly if we get down to $2, that could be a bounce idea for it to get up
--to here. Or if this range stays intact, it could be a return back to this
--
--67
--00:12:24,660 ~-~-> 00:12:33,300
--bearish order block here in the $2 and 80 cent mark. Okay, so several levels in
--the watch. And it sounds rather ambiguous. It wasn't as clean as the levels I
--
--68
--00:12:33,300 ~-~-> 00:12:41,430
--was giving you here as we marched up. But that's how trading is. So that's why
--it's important to trade in a demo account and learn to see what your setup is.
--
--69
--00:12:42,060 ~-~-> 00:12:51,510
--And you'll find it by seeing price action over and over again, seeing how it's
--formed in the past. And then watching these levels and see if those setups form.
--
--70
--00:12:51,570 ~-~-> 00:13:00,840
--If there's those form at the level that you've already predetermined that may
--form a setup, then you have, at least in my opinion, more likely odds of your
--
--71
--00:13:00,840 ~-~-> 00:13:11,760
--study in your demo, painting out to a favor welcome. So I'm not sure is there
--even a demo account for you guys that know about crypto better than idea? Is
--
--72
--00:13:11,760 ~-~-> 00:13:20,190
--there a demo account that you can trade crypto on? I'd like to be able to do
--something with that as well. You guys, if you don't mind to tweet me something
--
--73
--00:13:20,220 ~-~-> 00:13:28,290
--in regards to that, I'd appreciate it. And Bitcoin. I'm neutral on I mentioned
--this before, initially, I was looking for
--
--74
--00:13:29,760 ~-~-> 00:13:39,360
--price to respect, if I'm not mistaken this range in here. And we were in here
--and I said that we would probably look for a lower low, we've consolidated and
--
--75
--00:13:39,360 ~-~-> 00:13:50,010
--then we punch back above the 15 100 level. And I said that would be a callus
--back here to be bullish. We had consolidated. I don't want to see that if it
--
--76
--00:13:50,010 ~-~-> 00:14:00,060
--trades back up to 15. One that way, I don't like it. That's why I tweeted, I'm
--neutral on Bitcoin. Okay, and we've seen it consolidate further in here. I'd
--
--77
--00:14:00,060 ~-~-> 00:14:10,200
--like to see it really try to make a run on the liquidity below the marketplace.
--I'm not terribly bullish in here, I think that like I said, if this currency, or
--
--78
--00:14:10,200 ~-~-> 00:14:18,780
--cryptocurrency is going to go higher, they're gonna want to take the the long
--holders out, okay, and there's liquidity below these equal lows here and below
--
--79
--00:14:18,780 ~-~-> 00:14:28,140
--this oh well as well. So this could be very easily punched through made equal
--highs, it could go up there and run that turtle soup sell, faded and go lower
--
--80
--00:14:28,170 ~-~-> 00:14:41,700
--and then start working lower end of the range. And they go a run back below that
--12,000 level. But I'm not. I'm not convinced that this is a good buy. It doesn't
--
--81
--00:14:41,700 ~-~-> 00:14:50,370
--look like accumulation in here at all. Even though we can map out all kinds of
--optimal trade entries here. I don't view it as bullish. I think there's an
--
--82
--00:14:50,370 ~-~-> 00:15:00,480
--underlying tone to Bitcoin right now. That's going to be problematic for the
--bulls. Now obviously, I got new skin in the race here so I can be a pain Because
--
--83
--00:15:00,480 ~-~-> 00:15:09,930
--it causes me no harm if I'm wrong, but I'm being honest with you in regards to
--how I use the tools and concepts that I work with. And I personally, me
--
--84
--00:15:09,930 ~-~-> 00:15:18,780
--personally don't see something in here as a buy. If I was trading this with my
--own demo account, or if I had real money in it, I wouldn't be doing anything
--
--85
--00:15:18,780 ~-~-> 00:15:27,150
--with it at all. I wouldn't be doing anything at all, my attention would be
--really focused back on ripple. And I would be actively following that one.
--
--86
--00:15:27,780 ~-~-> 00:15:37,500
--Because I think there's levels I mentioned earlier are going to be significant
--going forward. Okay. So I'm not sure if this was any value to you. Like I said,
--
--87
--00:15:37,500 ~-~-> 00:15:46,980
--I'm learning this crypto stuff as I go. I spend a little bit of time with it
--each day. And so far, it's been a really interesting study on my own. I like
--
--88
--00:15:47,700 ~-~-> 00:15:58,080
--what I've found in price action, like the responsiveness that one would expect,
--using the stuff I teach in demo for forex. So I'm going to continue plowing away
--
--89
--00:15:58,080 ~-~-> 00:16:07,440
--at it and see if I can gain any more better understanding about it. And so
--hopefully, I'll be more insightful for you guys to actually trade it. Again, I'm
--
--90
--00:16:07,440 ~-~-> 00:16:21,510
--not trying to provide you advice, but I'm just going to agree. Okay. If you
--asked if this is a an ICT concept and a chart, yeah, I cannot say yeah, I can
--
--91
--00:16:21,510 ~-~-> 00:16:30,750
--see that. But I don't ever want you to take that as a investment advice or
--enticement to do something with real money. Because Personally, I'm not invested
--
--92
--00:16:30,750 ~-~-> 00:16:41,670
--in this stuff. I'm not really actively trading it, I don't have any money at
--risk. And it would be unfair for me to try to give you that image, okay, or
--
--93
--00:16:41,670 ~-~-> 00:16:50,430
--portray that, because I'm not really in it. But I am personally studying it as I
--teach everyone to do with forex. In a demo, study, study study, I'm doing that
--
--94
--00:16:50,430 ~-~-> 00:16:59,490
--same thing. Without the capacity of a demo account. I'm just paper trading and
--studying it with just technicals written on a chart. And I'm saving the charts
--
--95
--00:16:59,490 ~-~-> 00:17:07,800
--and I'm keeping these as reminders of the things that I look for in price
--action, other asset classes. They materialize or they have been to this point
--
--96
--00:17:07,890 ~-~-> 00:17:19,980
--materializing in crypto. So until tomorrow, it's non farm payroll Friday, I will
--probably share my opinions about what I think the market will seek before the
--
--97
--00:17:19,980 ~-~-> 00:17:27,780
--numbers come out tomorrow. Again, that's not a trade advice. It's not enticement
--to take a trade. This is my opinion about what I think they'll run for four stop
--
--98
--00:17:27,780 ~-~-> 00:17:36,450
--running. And apart from that, I would be on the sidelines. If you were reading
--in the market for real trades, live money. I wouldn't be doing it now teach
--
--99
--00:17:36,450 ~-~-> 00:17:42,930
--against that anyway. So not for professionals. That's what NFP stands for with
--us until then, which Good luck and good trading.

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