Skip to Content
Version 1.1 by Drunk Monkey on 2020-12-09 06:16
Show last authors
1 1
2 00:00:11,580 ~-~-> 00:00:23,160
3 ICT: Well, good afternoon, folks. This is a market review for January 17 2018.
4 Real quick, the dollar index is dealing. Now we were watching for the breakdown
5
6 2
7 00:00:23,190 ~-~-> 00:00:38,880
8 on this market and one of the CRM below this low. I'm going to show you what
9 we're anticipating even the highest open or close in this sling, drag it down
10
11 3
12 00:00:38,880 ~-~-> 00:00:58,440
13 into its lowest open or close right here and gives us a target one level, you
14 can see that did in fact cause a nice little bounce so far today. Not a terrible
15
16 4
17 00:00:58,440 ~-~-> 00:01:09,030
18 amount of pips or move. But noteworthy nonetheless. So we're going to take that
19 off. And you see that notation here. We did sweet through it. Now we're trying
20
21 5
22 00:01:09,030 ~-~-> 00:01:21,750
23 to most likely reach back up, either retest this low or come back up into these
24 equal lows here. Okay, so that might be a catalyst. So we'll look for what's to
25
26 6
27 00:01:21,750 ~-~-> 00:01:40,230
28 close on that 9132. And low on this candle comes in 9138. So we could look
29 forward to run back up to 9130 to 9135. That could be an area of short term
30
31 7
32 00:01:40,260 ~-~-> 00:01:50,460
33 resistance and then maybe see another round of selling or how we come back above
34 this low will be indicative of whether or not we want to see unchallenging of
35
36 8
37 00:01:50,460 ~-~-> 00:02:02,550
38 this short term high here. Okay. So right now, we're looking for slightly very,
39 very, very short term bullish dollar. It's only in the form of a retracement,
40
41 9
42 00:02:02,580 ~-~-> 00:02:12,180
43 I'm not trying to pick the bottom or the low here. But I want to see it try to
44 get back up into the 9130 to 9135 level ideally, it could hit just a 91 big
45
46 10
47 00:02:12,180 ~-~-> 00:02:20,910
48 figure and stopped dead in its tracks there but but you trade both 9130 I'm
49 sorry, 91. Big figure. I'm thinking 9130 is probably where we're going to reach
50
51 11
52 00:02:20,910 ~-~-> 00:02:40,680
53 for so let's go over to the euro dollar. So the euro dollar we had a target of
54 or like they'd rather I shared it on Twitter. Let's look for 122 32 and it's
55
56 12
57 00:02:40,680 ~-~-> 00:02:51,030
58 gone well beyond that. So the equal highs here. Nice little retracement back
59 into weekly bullish order block. rallied away. Nice big expansion and treated to
60
61 13
62 00:02:51,030 ~-~-> 00:03:06,510
63 a high today. 2322. Okay, so nice little movement here. 101 pips beyond what I
64 was looking for, which is typical for daily chart. Let's go into a smaller
65
66 14
67 00:03:06,510 ~-~-> 00:03:24,810
68 timeframe on an hourly eurodollar. It's a fiber one hour chart. And we have this
69 low here and an equal low. So we'll be looking for that move here. So for swing
70
71 15
72 00:03:24,810 ~-~-> 00:03:38,700
73 projection of the see if we get any confluence of this swing with anything.
74 Alright, so we have an order block and symmetrical price swing around the 2130
75
76 16
77 00:03:38,700 ~-~-> 00:03:47,220
78 level. So we'll be looking for that as a potential downside objective if
79 focusing on this bullish order block right there. So that's what we're probably
80
81 17
82 00:03:47,220 ~-~-> 00:04:01,440
83 going to see maybe. So we'll have this noted. And it's going to use the top of
84 the block itself, and then just keep that your notes could see as low as 2130.
85
86 18
87 00:04:02,550 ~-~-> 00:04:13,290
88 But for the sake of the charting is identifying the order block itself, we're
89 looking at 2146 It looks like to see what the open knows that you're 2147 so
90
91 19
92 00:04:13,290 ~-~-> 00:04:25,380
93 it's good enough for government work. Okay, so we'll look for that. And man,
94 nice little rejection about these equal highs right here, price came down, right
95
96 20
97 00:04:25,380 ~-~-> 00:04:29,250
98 into otherwise be in optimal trade entry. fee what that looks like.
99
100 21
101 00:04:34,410 ~-~-> 00:04:45,300
102 High super close, lowest open and close right there. Nice little reaction there.
103 And then we look for, again, confluence of target to overlapping. So we have
104
105 22
106 00:04:45,300 ~-~-> 00:04:55,530
107 several things overlapping a bullshitter block the swing projection from this
108 high to this low. We have a nice symmetrical price swing. And now we have target
109
110 23
111 00:04:55,530 ~-~-> 00:05:06,300
112 to using the statement optimal trade entry. So we'll be looking for that level
113 here. So 2145 is the objective. Alright, so we're gonna go to cable. All right,
114
115 24
116 00:05:06,300 ~-~-> 00:05:18,090
117 this one here, I want to go over to daily effects just to pull up my next week.
118 I'll make you wait for that one. I'll show it to you in a minute. But we saw
119
120 25
121 00:05:19,500 ~-~-> 00:05:33,210
122 British Pound trade up to a high today of 3943. And, and I was looking for the
123 market that want to trade below this low today. And I say as long as we stay
124
125 26
126 00:05:33,210 ~-~-> 00:05:43,980
127 below 138 20, we'll be looking for that. And actually didn't do that actually
128 broke back above and gave me a small little market structure shift right in
129
130 27
131 00:05:43,980 ~-~-> 00:05:51,990
132 here. So when this high was broken, I changed gears. Now I know I didn't share
133 it with you openly on Twitter. But you guys watch by way of my execution, you
134
135 28
136 00:05:51,990 ~-~-> 00:06:00,690
137 see my entries and such if you go on Twitter, you'll see the the entry points
138 and all that when I was acting on was a bullhorn block and expansion away from
139
140 29
141 00:06:00,690 ~-~-> 00:06:13,260
142 that. And using the weekly objective that I talked about several different times
143 on my YouTube channel and on several instances on Twitter. So let me apply all
144
145 30
146 00:06:13,260 ~-~-> 00:06:23,370
147 that information. And we'll change the chart and show you what that looks like.
148 Alright, so we're looking at the British Pound on the 15 minute timeframe. This
149
150 31
151 00:06:23,370 ~-~-> 00:06:34,440
152 is midnight, New York time. So we have a little bit of Judas swinging here.
153 Admittedly, I didn't like anything over here to draw off of for a setup, I
154
155 32
156 00:06:34,440 ~-~-> 00:06:43,890
157 wasn't really looking for anything to go long here. I would rather had it trade
158 down below the low here and had it done that I would have went long for that.
159
160 33
161 00:06:43,890 ~-~-> 00:06:52,620
162 But we didn't get it. And it's nothing really in here that's strong enough that
163 I can zero Wednesday. Okay, that's the level I want. So that's why I was more
164
165 34
166 00:06:52,650 ~-~-> 00:07:01,350
167 inclined to wait for the trade below that low, I was gonna pick up any sell stop
168 rate, with the anticipation of running to the 138 65 level now 138 65, it's
169
170 35
171 00:07:01,350 ~-~-> 00:07:11,730
172 gonna feel like where'd that number come from? Where's that level? What's the
173 significance for it? Well, it's on a weekly chart. And if we go to daily FX,
174
175 36
176 00:07:11,730 ~-~-> 00:07:22,470
177 just for a second, here's the old lows back in here. And we're gonna look at
178 this candle right here. And look at the close, okay, wants to close in here,
179
180 37
181 00:07:22,470 ~-~-> 00:07:32,640
182 because that's what I'm focusing on the body of that candle 138 66 and a half.
183 Okay, so 138 66 and a half. If we're coming up to that level, what level we're
184
185 38
186 00:07:32,640 ~-~-> 00:07:44,340
187 gonna be focusing on 138 6138 65. That's how we run our low levels to
188 institutional. Alright, so here we are back here. And now, since we had this
189
190 39
191 00:07:44,340 ~-~-> 00:07:55,200
192 short term high, that I was anticipating really, the market to go lower. And
193 again, I did not want to fade the higher timeframe momentum. So this move here,
194
195 40
196 00:07:55,560 ~-~-> 00:08:04,650
197 while I was talking about on Twitter, saying we could probably make this run on
198 this low here. And removal of here. It's not a trade I was looking to take. And
199
200 41
201 00:08:04,650 ~-~-> 00:08:13,440
202 it didn't break down. It started to go down a little bit, but then it came back
203 up and snapped through it. So in here, price rally again. So while I was looking
204
205 42
206 00:08:13,440 ~-~-> 00:08:22,890
207 for as a retracement back, I wanted to see it come back down in. And I actually
208 missed an ideal scenario actually get into it a little bit better. So let's use
209
210 43
211 00:08:22,890 ~-~-> 00:08:36,630
212 it on an expansion basis. We already had a swing low form here. So I'm okay with
213 so anticipated, at least I run up into that 130 65. So with 138 65 is the draw
214
215 44
216 00:08:37,230 ~-~-> 00:08:47,130
217 138 50 even would have been really easy to get to. And that's what I was trying
218 to aim for, for a little bit of a scalp. And we ended up blowing through it a
219
220 45
221 00:08:47,130 ~-~-> 00:08:57,960
222 lot more. In all this move here. I was not able to participate in any of that. I
223 missed all that stuff. So the highest expectation I had for today's intraday
224
225 46
226 00:08:57,960 ~-~-> 00:09:09,030
227 range was 138 50. And I thought overnight, we would probably see something like
228 this going into London, and maybe even have a little bit higher move trade in
229
230 47
231 00:09:09,030 ~-~-> 00:09:14,760
232 New York, but we didn't get so nonetheless, I was looking for that expansion
233
234 48
235 00:09:16,230 ~-~-> 00:09:26,070
236 saw the expansion but ended up getting way more inside of the price action than
237 I first thought would get in today's daily range. And we can see how the market
238
239 49
240 00:09:26,070 ~-~-> 00:09:37,770
241 has now responded off of that. So watch in here. Okay, in a nice little rally up
242 we retrace now. This is the level I want to watch going forward. Now by the time
243
244 50
245 00:09:37,770 ~-~-> 00:09:46,500
246 you get this video, which is good because I don't want you going on my
247 commentary as trade advice because it's not meant to do that. It's just to
248
249 51
250 00:09:46,500 ~-~-> 00:09:54,240
251 stimulate your thinking. So this is a potential order block and here, it could
252 trade down through the low and then we would have to watch this one here and I
253
254 52
255 00:09:54,240 ~-~-> 00:10:03,090
256 already know what some of you're thinking well which one do I use Michael in the
257 mentorship I go over the ones that You'll look for, but I'm giving you free
258
259 53
260 00:10:03,870 ~-~-> 00:10:16,050
261 tutorial level content here. So just be happy with that. Okay, so in here, this
262 might get a reaction. And where we look for is we want to see potentially a run
263
264 54
265 00:10:16,080 ~-~-> 00:10:29,880
266 up into, let's see, we could see the 139 big figure right in here that could be
267 retested right there. Okay, so that's a nice little level to look for. So if we
268
269 55
270 00:10:29,880 ~-~-> 00:10:37,620
271 get a bounce in here, you can study this, in hindsight, or if you get to the end
272 time, is still hanging around down here, you can just pay for trading idea, do
273
274 56
275 00:10:37,620 ~-~-> 00:10:46,230
276 not put my money on this. Don't, don't do that. Okay, it's not what I'm doing
277 here, I want you to kind of like, weigh out which one of these levels gives you
278
279 57
280 00:10:46,230 ~-~-> 00:10:55,500
281 a reaction, neither one of them may even factor in do that, because that's the
282 nature of things like I got stopped out on my eurodollar trade yesterday, I had
283
284 58
285 00:10:55,500 ~-~-> 00:11:05,610
286 to go back and do it again. But long short, this may be a catalyst for a little
287 bit of a bounce up into 39, big figure, what would be nice is the trade up
288
289 59
290 00:11:05,610 ~-~-> 00:11:15,120
291 through that 138 65 level, come back, find some support there, remember that
292 weekly, low, and then reach back up in here and hit that 139 day figure, maybe
293
294 60
295 00:11:15,120 ~-~-> 00:11:27,450
296 even tag 139 10? Just to get through that big figure one more time as a sweep?
297 And then what we do between? And then price goes, who knows? And that's gonna be
298
299 61
300 00:11:27,450 ~-~-> 00:11:39,780
301 it for forex. I want to go over to crypto, I promise I'd go over that real
302 quick. Alright, so we have Bitcoin here. And we traded below the 12,000. Mark.
303
304 62
305 00:11:40,350 ~-~-> 00:11:50,610
306 And I said, if we got below 12,000, we would trade below 10,000. We did get
307 below 10,000. Trade a little low of see what that is? That's 9017 thinking, yep.
308
309 63
310 00:11:50,610 ~-~-> 00:12:04,320
311 9017 was the low on this particular cryptocurrency. And we have a little bit of
312 a bounce in here. Now, I don't personally feel again, this is from a stance that
313
314 64
315 00:12:04,320 ~-~-> 00:12:15,450
316 I don't have any skin in the race on this, like so I can be very objective about
317 my opinion, and why I feel that certain things may not happen because I don't
318
319 65
320 00:12:15,450 ~-~-> 00:12:24,930
321 have any skin in the race. Okay. And some of you may say, Well, you know,
322 really, your opinion shouldn't be considered because you're not actively trading
323
324 66
325 00:12:24,930 ~-~-> 00:12:35,130
326 it in, I guess, in some way, shape or form. I would agree. But I'm just
327 supplying it because I'm asked for it. But I would say this, because I don't
328
329 67
330 00:12:35,130 ~-~-> 00:12:44,430
331 have anything in the race. I'm objective about what I see in price. folks that
332 are you holding on for dear life, they're only going to want to see what
333
334 68
335 00:12:45,390 ~-~-> 00:12:54,930
336 satisfies that urge to justify being in there holding on to it long enough,
337 pretty much challenge all of you since the first or second week of December, in
338
339 69
340 00:12:54,930 ~-~-> 00:13:02,970
341 regards to why I don't think that's actually a good idea. And you can see where
342 we went to. So I'm not here trying to tell you, I told you so type thing, I just
343
344 70
345 00:13:03,330 ~-~-> 00:13:13,200
346 think that it's probably beneficial to listen to someone that doesn't have
347 anything in it to lose. So that way, I really don't. I don't trade it. I don't
348
349 71
350 00:13:13,200 ~-~-> 00:13:23,400
351 want to trade it in the future either. So I don't have anything really to gain
352 from it. Except for studying whether or not my materials either in price action
353
354 72
355 00:13:23,400 ~-~-> 00:13:31,980
356 or it's not. So far I've seen it. And I think I've pretty much illustrated that
357 to a tee. Do I see it as a buy? Personally, I would if I was trading this type
358
359 73
360 00:13:31,980 ~-~-> 00:13:40,860
361 of market, I would not be buying it now. But that's not an advertisement for you
362 to follow me in, in what I would do or wouldn't do. And the same, because I'm
363
364 74
365 00:13:40,860 ~-~-> 00:13:49,590
366 asked this is what I'm thinking, because I'm actively trading it. And I'm not
367 telling you what to do with your money. It's just my opinion. So
368
369 75
370 00:13:51,120 ~-~-> 00:13:59,940
371 do I think it's going to go lower? I think it can. And I think it will
372 ultimately want to reach down into the 1000 to 5000. Mark. I think we're all so
373
374 76
375 00:13:59,940 ~-~-> 00:14:09,000
376 mentally where we're going to reach for what's the timeframe for that? I don't
377 know, I really don't know, at this point, it's already hit the levels that I
378
379 77
380 00:14:09,000 ~-~-> 00:14:18,570
381 would feel comfortable with trading it. Now it might get really crazy, and it
382 could have all kinds of spiky moves. And it would be really, you know,
383
384 78
385 00:14:19,560 ~-~-> 00:14:28,230
386 uncharacteristic for me to be operating in something like that. So at this
387 moment, I would be on the sidelines and when neither look for the go lower rate
388
389 79
390 00:14:28,260 ~-~-> 00:14:38,190
391 from here or go higher, I would be neutral. And those instances sometimes occur
392 in my analysis. And it's, you know, it sounds like well, you should know, well,
393
394 80
395 00:14:38,190 ~-~-> 00:14:45,690
396 no, you shouldn't know all the time you're not going to so I know when I'm
397 looking for something. If those elements are not in price action, then I have to
398
399 81
400 00:14:45,690 ~-~-> 00:14:53,130
401 wait for those things to come to fruition if they don't materialize and there's
402 nothing I can do. I don't want to be gambling. I don't want to give you advice
403
404 82
405 00:14:53,130 ~-~-> 00:15:06,210
406 about studying and practicing price action that won't be fruitful for you. Okay,
407 let's take a look at risk. And we will be done. So let's go here to ripple. And
408
409 83
410 00:15:06,210 ~-~-> 00:15:17,460
411 here we go. Alright, so we had several levels here, breach on the downside,
412 identified around below these lows in here, and it basically the 90 level. And
413
414 84
415 00:15:17,460 ~-~-> 00:15:24,960
416 we had that sweet down to two times. And then now we have a little bit of a pop
417 in here saying question here, do I think it's going to go higher? No, I don't
418
419 85
420 00:15:24,960 ~-~-> 00:15:36,660
421 think it would be a buy for you studying in price action. Again, it's not. It's
422 not civilization for you to go in buying or shorting anything I'm saying, but I
423
424 86
425 00:15:36,660 ~-~-> 00:15:46,440
426 still see a market maker. So model here. And the way I see it is is we have
427 consolidation in here. Price has left it come back down into it rallied away, re
428
429 87
430 00:15:46,440 ~-~-> 00:15:55,980
431 accumulation, smartly reversal, lower sell distribution, redistribution where I
432 said it was gonna happen. And we're down here in the original consolidation
433
434 88
435 00:15:55,980 ~-~-> 00:16:03,810
436 again. So I think we're seeing just a rally one more time, just to create
437 another opportunity to sell off and go down below 60 cents. And I know that
438
439 89
440 00:16:03,810 ~-~-> 00:16:13,890
441 probably doesn't feel good to hear that. But that's my opinion. Okay, so what's
442 the timeframe for that? Again, I don't know. But I do not believe that. It's
443
444 90
445 00:16:13,890 ~-~-> 00:16:23,400
446 something that you should be buying and holding on to for dear life. If it were
447 me, I wouldn't be doing it. Now. I'm only speaking from the stance of a paper
448
449 91
450 00:16:23,400 ~-~-> 00:16:32,160
451 trader or a demo traitor, for the purpose of studying price action. So take it
452 for what it's worth, which is absolutely nothing. Okay. It's not trading advice.
453
454 92
455 00:16:32,310 ~-~-> 00:16:41,520
456 It's for you, to stimulate you in terms of your decision making and your
457 studying practices. And hopefully, that's going to be good enough for today. And
458
459 93
460 00:16:41,520 ~-~-> 00:16:53,100
461 until I talk to you again, I wish you good luck, good trading. Today, I'm trying
462 to kind of close that window for folks that are looking to sign up. There has
463
464 94
465 00:16:53,100 ~-~-> 00:17:00,690
466 been a hiccup with all the emails I've been trying to send out because the
467 platform I used like this continue to ask for a refund for the service I
468
469 95
470 00:17:00,690 ~-~-> 00:17:09,630
471 explained. And I shared the emails you guys sent me saying the links weren't
472 working. So they were very helpful in that regard. So I use a different
473
474 96
475 00:17:11,160 ~-~-> 00:17:20,460
476 services, MailChimp, which I know it sounds funny, but actually seems pretty
477 easy to use. So that's what I'm using right now to get everyone that's looking
478
479 97
480 00:17:20,460 ~-~-> 00:17:29,730
481 to get the enrollment done for January, if you can't be a part of the January
482 enrollment. It's not closing, it's just giving me a window opportunity to get
483
484 98
485 00:17:29,730 ~-~-> 00:17:37,470
486 these people in the group. And then again, the second week of February, I'll
487 open up enrollment again, for folks that couldn't get in January. And every
488
489 99
490 00:17:37,470 ~-~-> 00:17:44,340
491 month we'll do the same way. Same thing, usually like the second week of it each
492 month, that'll give me an opportunity to get folks that want to come into the
493
494 100
495 00:17:44,340 ~-~-> 00:17:51,480
496 mentorship, they can join, it just means you'll be one or two months behind
497 whenever it's you know, your starting point, just that's how far you'll behind
498
499 101
500 00:17:52,230 ~-~-> 00:18:00,480
501 from everyone else in front of you. Alright, so don't feel like you're being
502 kept out or locked out or missing the boat. And just trying to do small little,
503
504 102
505 00:18:00,540 ~-~-> 00:18:08,760
506 there's a lot of you want to come in. And I had a lot of you respond. But
507 thankfully, only several 100 of you are actually on the list right now that
508
509 103
510 00:18:08,760 ~-~-> 00:18:16,890
511 might change because you're Johnny come lately waiting to the last minute. But I
512 want to make sure that everyone is in because tomorrow, I'm actually sending out
513
514 104
515 00:18:16,890 ~-~-> 00:18:26,730
516 the digital signatures you have to sign when I get those digital signatures back
517 that you agree to the terms of use, and that refund policy. All of the things
518
519 105
520 00:18:26,730 ~-~-> 00:18:34,470
521 that go along with the service. Understand that it's teaching price action, it's
522 not trade advice. We do demo account only. When you agree all that stuff. When I
523
524 106
525 00:18:34,470 ~-~-> 00:18:42,630
526 get that back in a digital signature, then I respond back to that with the
527 instructions to send payment to me. Okay, that's the process and how it goes. So
528
529 107
530 00:18:42,630 ~-~-> 00:18:46,530
531 if let's answer your question, and until I talk to you next time, I wish you
532 good luck and good trading