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Version 1.1 by Drunk Monkey on 2020-11-20 17:05
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3 ICT: Welcome back, folks. So we're looking at the euro
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7 dollar, the 15 minute time frame. We'll cover two quick
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11 things. And then that'll be pretty much it for today. I
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15 don't want to talk too much about anything that's in a chart
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19 here but mentorship group, we will have an amplified lesson
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23 on all of this price action tomorrow in our midweek review.
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27 Real quick if you have not been following along on the
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31 community tab, if you go to the inner circle trader YouTube
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35 channel, click on the community tab. And this is my
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39 replacement for Instagram and Twitter, which I'm no longer a
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43 part of either one of those mediums. And this is where I'm
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47 updating everyone. If there's anything of any importance, or
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51 if there's something I'm trying to grab your attention with
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55 You can find that here. If you subscribe to the channel, hit
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59 the Notifications tab and a little bell icon, it should be
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63 alerting you when I post something on this community tab.
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67 Anyway, with that said, let's go back to the euro. And this
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71 is the 15 minute time frame as I mentioned, and I posted a
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75 chart and I want to kind of like give you the opportunity
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79 again, if you have not done so, go through the chart that's
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83 posted on the community tab that's naked doesn't have
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87 anything kind of like this, but it was only showing up to
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91 here. Okay, so otherwise you're gonna, it's just gonna feel
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95 like well waste of time and you want to be able to use your
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99 time, efficiently and also try to grow your understanding.
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103 And that's what this little example is going to hopefully do
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107 for some of you. Alright, so we're looking at the price
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111 action here. We have a high formed on the 24th, which is
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115 Monday's trading, we had a low here, low here and low here.
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119 So there's multiple lows in here. Not everyone that's
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123 familiar with my content is always now looking for these
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127 equal highs and equal lows. Sometimes that's the way to go
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131 in sometimes you have to wait for it to get back to those
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135 levels. So this is where it takes a little bit of
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139 understanding and experience to know what the narrative is.
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143 and mentorship, you know, we are in an area of
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147 consolidation. So we're not trying to look for exponential
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151 breakouts, we're looking for trading inside the range until
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155 a definitive displacement takes place. So with that said,
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159 I'm going to give you the YouTube version of what has
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163 transpired today. And yes, it is enough. So if we look at
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167 the annotations, I'm just gonna add these on real quick.
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171 These are the salient points that we're going to cover. I'm
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175 going to have a link in the description if you click on that
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179 a little bit more detail as to what it is I'm annotating
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183 here. So right away, you can see that we had the market
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187 trade down. This is the new york session. So it's 830 in the
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191 morning to 11. New York time always set your trading view to
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195 this, regardless of where you live in the United States.
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199 Whether you live in a foreign country outside of the US, set
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203 your charts to New York time, if you do that, everything
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207 you're looking at, in terms of my lessons will make perfect
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211 sense to you then, it just has been very easy transitioning
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215 from empty for where everyone would used to ask me, What is
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219 the time zone and kill zone overlap, not that this is a kill
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223 zone, but because I gave you a specific time window to trade
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227 the New York session. It's static, it doesn't change. This
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231 is the easiest way for me to get all the students on the
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235 same page, just this little tab down here. Scrub until you
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239 get to New York. Okay. Click on that. And then your time is
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243 set. Vertical delineation on midnight, New York. And then we
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247 have a Judas swing here in London price trades up, does it
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251 trade through Monday's high? No, does not do that. But prior
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255 to 830 to 11 o'clock New York session price is going to most
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259 likely recede because the market has made a low and it's
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263 already showing a willing so want to rally. So right away,
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267 in my mind, I'm thinking this could be a run to this high.
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271 Not strongly. Am I you forcing that opinion on myself. But
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275 I'm looking at the likelihood that that might be where it's
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279 reaching for. But nonetheless, even if it doesn't go there,
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283 we can look at the order block that's in that swing high.
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287 That's this last upclose candle, looking at the middle of
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291 that body, which is the main threshold and then you have the
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295 low Okay, so that's your sweets If you will have an order
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299 block, not every up close candle is a bearish order block.
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303 And every bearish order block is not always a short selling
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307 opportunity. But
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311 if we look at the likelihood of either one of these two
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315 levels, posing an upside objective, we've already got the
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319 lower end here. So if we start to recede, what would it
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323 likely recede into? Well, we have a low here, and a low
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327 here, which we'll look at on a five minute chart because I
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331 do want to show briefly why I went short. And you saw that
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335 in a Live account. I'm showing you examples with the
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339 layman's or lay audience perspective. Now I can get on here
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343 and trade you $500 per PIP and it's gonna mean nothing to
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347 you all it you're not going to be able to connect with that.
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351 You're not going to be able to get the the perspective that
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355 would be required to trade at that level. So everyone's
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359 starts with a very humble beginning. And I think $2 and 50
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363 cents, or $2 per PIP is within the realm of reasonable for
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367 most of the audience on YouTube, I want to speak in terms
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371 that are easily accepted across the entire audience. And
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375 that way no one feels alienated because they're trading with
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379 a very small account, and or traders that are not looking to
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383 ever risk $500 per Pip. It that doesn't alienate those
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387 individuals either. So I'm trying to make it so we're not
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391 focused on money, because that's the number one driver of
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395 failure in this industry is because you're starting to fast
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399 worrying about money. So if I can give you examples that
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403 will, for a short period of time, stay within the realm of
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407 reasonable for the beginning rung of everyone that's
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411 developing from this YouTube channel. Obviously, some of you
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415 are way beyond that, and you're trading larger leverage and
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419 that's fine, but Most of my audience is new to my concept.
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423 So I'm trying not to entice individuals thinking, they can
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427 just watch my videos and go out there and start trading with
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431 $50 per Pip, it you have to grow into a little bit. So if we
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435 look at the context of the day, we have new york session
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439 midnight, the market trades down creates a low the day in
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443 London. And then there's market protraction to the upside,
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447 we trade up into the bearish order block here. And then we
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451 get that reaction trading down into the 830 to 11 o'clock
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455 New York session. We have relative equal lows in here, it
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459 trades down below those as well and into the bullish order
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463 block right here. So we're looking at the high to the
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467 candles high and the candles open. Okay, so we have those
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471 two specific price levels. And we could annotate the
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475 midpoint of the body which would be the mean threshold but
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479 that's not required here because of the signature that
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483 creates this wick and again mentorship. You know what that
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487 is? And I don't want to sound like I'm teasing, okay? But
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491 I'm not here teaching mentorship folks. So just accept the
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495 fact that I'm willing to share my time here. And it's free.
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499 Okay? So take what you get and be happy with it. If you're
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503 not happy with it, just leave the thumbs down button. Don't
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507 come back tomorrow. Okay. So we're looking at the London low
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511 in the market trades up to the bearish order block and
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515 market protraction to the downside clear sell side liquidity
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519 into a bullish order block. And at the same time, we're
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523 looking at it trading into that 838 45 time of day, where we
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527 should see what form an optimal trade entry. So the
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531 parameters are this low to this high trades down optimal
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535 trade entry overshoots it a little bit again, I don't trade
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539 on the fibs. Okay, I'm trading on the logic and what the
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543 algorithm is going to reprice to the order block London
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547 query The low of the day. We have unfinished business up
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551 here. So it may make an attempt to trade up into this high.
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555 That's my thinking. But I want to get a little bit of juice
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559 out of this before it runs higher. So I went short in here,
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563 you saw that trades down into the order block, look at the
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567 bodies of the candles respecting the wick, you see that
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571 stops just short of the wick here. And then we hit it, we
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575 hit it trade, throw it a little bit into the order block.
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579 And elevates. We run this short term high here, that's going
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583 to be the first scaling. If you look at the community tab on
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587 my YouTube channel, you can see I post pay the trader,
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591 that's what this level was here. And then we traded above
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595 the high the day prior to create a new high. So we're taking
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599 out the London session high there. Once it traded above
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603 that, that's when I said that 80% should be off the position
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607 or the original position and then stops roll to 1820. Now
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611 think trades to 1820 then it's most likely going to make
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615 attempt to go back into this swing low, it doesn't do that
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619 as well.
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623 I still favor the idea that we're going to run out these
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627 relative equal highs, and clear this short term high as
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631 well. So there's liquidity at 1850, I think is doable.
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635 Hopefully, I'll get this video up on YouTube before it posts
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639 there. But nonetheless, you can actually see that in the
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643 chart that I shared on the community tab, it's actually
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647 annotating this level here. Alright, so let's drop down into
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651 a five minute chart and give you a little bit of detail here
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655 that isn't apparent on that 15 minute timeframe. Right, so I
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659 want to shorten here. All these candles here are a bearish
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663 order block. And it's also a mitigation block. No mitigation
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667 block is not a breaker, but it's very similar. So when we
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671 have price trade up into a level that the algorithm will
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675 respect, which is that order block I mentioned on that 15
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679 minute timeframe. Price comes down and runs one more time.
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683 But fails to go above the swing high here. It breaks down
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687 with this candle right there. Okay, so we broke all this
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691 rally up, it trades down and then trades right back up into
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695 this last upclose candle right there. So when price hit that
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699 in the next candle, I'm going short. Okay, so I'm selling
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703 short there, and I'm targeting right below here. Now I could
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707 fancy dance and try to get real real close to the order
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711 block that's down in here. Okay, these last two down close
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715 candles, it's a specific order block. But I want to just
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719 make sure I get out with a run to the sell side liquidity,
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723 see this low here. And this low here, there's sell side
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727 liquidity. For anyone that's long, they're going to jam
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729 183
730 00:11:46,649 ~-~-> 00:11:50,159
731 their stop loss rate below. They're not understanding that
732
733 184
734 00:11:50,159 ~-~-> 00:11:54,629
735 the daily cycle takes us back down into New York session 830
736
737 185
738 00:11:54,629 ~-~-> 00:11:57,959
739 to 11. There's going to be a high probability, especially if
740
741 186
742 00:11:57,959 ~-~-> 00:11:59,879
743 there's news coming out. There really wasn't a whole lot of
744
745 187
746 00:11:59,879 ~-~-> 00:12:03,419
747 new Coming out until around 10 o'clock. But in here, there
748
749 188
750 00:12:03,419 ~-~-> 00:12:06,299
751 was a likelihood that we would see it pop and go higher
752
753 189
754 00:12:06,659 ~-~-> 00:12:11,699
755 bullish order block time of day. And we have this high here
756
757 190
758 00:12:11,699 ~-~-> 00:12:15,059
759 that didn't really quite run high enough in my opinion. And
760
761 191
762 00:12:15,059 ~-~-> 00:12:21,119
763 we're reaching if we go higher into that 1850 mid figure, so
764
765 192
766 00:12:21,119 ~-~-> 00:12:27,839
767 price does, in fact, start to rally aggressively. Short term
768
769 193
770 00:12:27,839 ~-~-> 00:12:29,849
771 high, there's gonna be buy side liquidity resting above
772
773 194
774 00:12:29,849 ~-~-> 00:12:34,529
775 that. So buying here selling to the buy stops on anyone
776
777 195
778 00:12:34,529 ~-~-> 00:12:40,199
779 that's going short. Bicycle equity above this high. And as
780
781 196
782 00:12:40,199 ~-~-> 00:12:43,349
783 it trades above that, that's when I was posting that 80% of
784
785 197
786 00:12:43,349 ~-~-> 00:12:46,949
787 the positions should come off now. And in the remaining 20%
788
789 198
790 00:12:46,979 ~-~-> 00:12:51,509
791 of the initial position should be rolled to a stop at 1820
792
793 199
794 00:12:51,569 ~-~-> 00:12:54,509
795 right in here. Now, ultimately, it did trade back down into
796
797 200
798 00:12:54,509 ~-~-> 00:12:56,459
799 that and that's fine. It's not a big deal. But if you're
800
801 201
802 00:12:56,459 ~-~-> 00:12:59,909
803 trading from here, and getting out here that's over 40 pips
804
805 202
806 00:13:00,359 ~-~-> 00:13:06,779
807 Then you lock in 2015 to 20 pips of open profit on the
808
809 203
810 00:13:06,779 ~-~-> 00:13:09,269
811 balance, if you get stopped out, you didn't take a loss
812
813 204
814 00:13:09,269 ~-~-> 00:13:14,309
815 there either. So in theory, it's a nice example today
816
817 205
818 00:13:14,339 ~-~-> 00:13:18,839
819 showing how when we're in an area where it's likely not to
820
821 206
822 00:13:18,839 ~-~-> 00:13:21,659
823 create a strong breakout higher or lower and we're trading
824
825 207
826 00:13:21,659 ~-~-> 00:13:24,959
827 inside the range, you want to take the bulk of your position
828
829 208
830 00:13:24,959 ~-~-> 00:13:28,859
831 off when it runs into areas like this initial high of the
832
833 209
834 00:13:28,859 ~-~-> 00:13:35,609
835 day. Mark does, in fact, trade lower into almost one o'clock
836
837 210
838 00:13:35,609 ~-~-> 00:13:38,699
839 in the afternoon. It's 1240 in my local time, trades down
840
841 211
842 00:13:38,699 ~-~-> 00:13:41,339
843 into it. Look at the respect of that order. Right there.
844
845 212
846 00:13:41,699 ~-~-> 00:13:47,339
847 Bang, body again, slams runs away. And we are now trading
848
849 213
850 00:13:47,339 ~-~-> 00:13:51,179
851 here. So it looks to me as if we might expand on the upside
852
853 214
854 00:13:51,179 ~-~-> 00:13:54,179
855 run these highs out and reach into the 1850 level. That's
856
857 215
858 00:13:54,179 ~-~-> 00:13:56,339
859 something you guys can study tonight. Can you make any money
860
861 216
862 00:13:56,339 ~-~-> 00:13:59,399
863 with it? Probably not. But it's an observation and study for
864
865 217
866 00:13:59,399 ~-~-> 00:14:02,999
867 you to look at Consider as experience so I think that's
868
869 218
870 00:14:02,999 ~-~-> 00:14:04,889
871 going to be it for today. I will touch base with you later
872
873 219
874 00:14:04,889 ~-~-> 00:14:07,289
875 on in the week and I'll give you an example. Till then I
876
877 220
878 00:14:07,289 ~-~-> 00:14:08,399
879 wish you good luck and good trading.