ICT YT - 2020-08-25 - ICT Forex Lesson - EurUsd NYO Lecture.srt
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ICT: Welcome back, folks. So we're looking at the euro
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dollar, the 15 minute time frame. We'll cover two quick
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things. And then that'll be pretty much it for today. I
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don't want to talk too much about anything that's in a chart
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here but mentorship group, we will have an amplified lesson
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on all of this price action tomorrow in our midweek review.
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Real quick if you have not been following along on the
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community tab, if you go to the inner circle trader YouTube
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channel, click on the community tab. And this is my
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replacement for Instagram and Twitter, which I'm no longer a
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part of either one of those mediums. And this is where I'm
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updating everyone. If there's anything of any importance, or
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if there's something I'm trying to grab your attention with
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You can find that here. If you subscribe to the channel, hit
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the Notifications tab and a little bell icon, it should be
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alerting you when I post something on this community tab.
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Anyway, with that said, let's go back to the euro. And this
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is the 15 minute time frame as I mentioned, and I posted a
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chart and I want to kind of like give you the opportunity
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again, if you have not done so, go through the chart that's
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posted on the community tab that's naked doesn't have
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anything kind of like this, but it was only showing up to
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here. Okay, so otherwise you're gonna, it's just gonna feel
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like well waste of time and you want to be able to use your
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time, efficiently and also try to grow your understanding.
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And that's what this little example is going to hopefully do
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for some of you. Alright, so we're looking at the price
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action here. We have a high formed on the 24th, which is
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Monday's trading, we had a low here, low here and low here.
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So there's multiple lows in here. Not everyone that's
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familiar with my content is always now looking for these
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equal highs and equal lows. Sometimes that's the way to go
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in sometimes you have to wait for it to get back to those
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levels. So this is where it takes a little bit of
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understanding and experience to know what the narrative is.
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and mentorship, you know, we are in an area of
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consolidation. So we're not trying to look for exponential
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breakouts, we're looking for trading inside the range until
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a definitive displacement takes place. So with that said,
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I'm going to give you the YouTube version of what has
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transpired today. And yes, it is enough. So if we look at
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the annotations, I'm just gonna add these on real quick.
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These are the salient points that we're going to cover. I'm
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going to have a link in the description if you click on that
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a little bit more detail as to what it is I'm annotating
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here. So right away, you can see that we had the market
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trade down. This is the new york session. So it's 830 in the
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morning to 11. New York time always set your trading view to
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this, regardless of where you live in the United States.
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Whether you live in a foreign country outside of the US, set
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your charts to New York time, if you do that, everything
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you're looking at, in terms of my lessons will make perfect
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sense to you then, it just has been very easy transitioning
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from empty for where everyone would used to ask me, What is
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the time zone and kill zone overlap, not that this is a kill
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zone, but because I gave you a specific time window to trade
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the New York session. It's static, it doesn't change. This
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is the easiest way for me to get all the students on the
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same page, just this little tab down here. Scrub until you
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get to New York. Okay. Click on that. And then your time is
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set. Vertical delineation on midnight, New York. And then we
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have a Judas swing here in London price trades up, does it
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trade through Monday's high? No, does not do that. But prior
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to 830 to 11 o'clock New York session price is going to most
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likely recede because the market has made a low and it's
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already showing a willing so want to rally. So right away,
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in my mind, I'm thinking this could be a run to this high.
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Not strongly. Am I you forcing that opinion on myself. But
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I'm looking at the likelihood that that might be where it's
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reaching for. But nonetheless, even if it doesn't go there,
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we can look at the order block that's in that swing high.
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That's this last upclose candle, looking at the middle of
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that body, which is the main threshold and then you have the
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low Okay, so that's your sweets If you will have an order
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block, not every up close candle is a bearish order block.
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And every bearish order block is not always a short selling
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opportunity. But
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if we look at the likelihood of either one of these two
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levels, posing an upside objective, we've already got the
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lower end here. So if we start to recede, what would it
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likely recede into? Well, we have a low here, and a low
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here, which we'll look at on a five minute chart because I
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do want to show briefly why I went short. And you saw that
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in a Live account. I'm showing you examples with the
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layman's or lay audience perspective. Now I can get on here
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and trade you $500 per PIP and it's gonna mean nothing to
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you all it you're not going to be able to connect with that.
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You're not going to be able to get the the perspective that
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would be required to trade at that level. So everyone's
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starts with a very humble beginning. And I think $2 and 50
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cents, or $2 per PIP is within the realm of reasonable for
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most of the audience on YouTube, I want to speak in terms
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that are easily accepted across the entire audience. And
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that way no one feels alienated because they're trading with
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a very small account, and or traders that are not looking to
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ever risk $500 per Pip. It that doesn't alienate those
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individuals either. So I'm trying to make it so we're not
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focused on money, because that's the number one driver of
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failure in this industry is because you're starting to fast
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worrying about money. So if I can give you examples that
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will, for a short period of time, stay within the realm of
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reasonable for the beginning rung of everyone that's
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developing from this YouTube channel. Obviously, some of you
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are way beyond that, and you're trading larger leverage and
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that's fine, but Most of my audience is new to my concept.
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So I'm trying not to entice individuals thinking, they can
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just watch my videos and go out there and start trading with
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$50 per Pip, it you have to grow into a little bit. So if we
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look at the context of the day, we have new york session
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midnight, the market trades down creates a low the day in
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London. And then there's market protraction to the upside,
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we trade up into the bearish order block here. And then we
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get that reaction trading down into the 830 to 11 o'clock
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New York session. We have relative equal lows in here, it
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trades down below those as well and into the bullish order
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block right here. So we're looking at the high to the
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candles high and the candles open. Okay, so we have those
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two specific price levels. And we could annotate the
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midpoint of the body which would be the mean threshold but
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that's not required here because of the signature that
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creates this wick and again mentorship. You know what that
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is? And I don't want to sound like I'm teasing, okay? But
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I'm not here teaching mentorship folks. So just accept the
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fact that I'm willing to share my time here. And it's free.
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Okay? So take what you get and be happy with it. If you're
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not happy with it, just leave the thumbs down button. Don't
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come back tomorrow. Okay. So we're looking at the London low
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in the market trades up to the bearish order block and
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market protraction to the downside clear sell side liquidity
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into a bullish order block. And at the same time, we're
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looking at it trading into that 838 45 time of day, where we
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should see what form an optimal trade entry. So the
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parameters are this low to this high trades down optimal
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trade entry overshoots it a little bit again, I don't trade
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on the fibs. Okay, I'm trading on the logic and what the
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algorithm is going to reprice to the order block London
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query The low of the day. We have unfinished business up
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here. So it may make an attempt to trade up into this high.
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That's my thinking. But I want to get a little bit of juice
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out of this before it runs higher. So I went short in here,
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you saw that trades down into the order block, look at the
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bodies of the candles respecting the wick, you see that
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stops just short of the wick here. And then we hit it, we
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hit it trade, throw it a little bit into the order block.
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And elevates. We run this short term high here, that's going
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to be the first scaling. If you look at the community tab on
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my YouTube channel, you can see I post pay the trader,
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that's what this level was here. And then we traded above
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the high the day prior to create a new high. So we're taking
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out the London session high there. Once it traded above
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that, that's when I said that 80% should be off the position
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or the original position and then stops roll to 1820. Now
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think trades to 1820 then it's most likely going to make
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attempt to go back into this swing low, it doesn't do that
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as well.
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I still favor the idea that we're going to run out these
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relative equal highs, and clear this short term high as
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well. So there's liquidity at 1850, I think is doable.
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Hopefully, I'll get this video up on YouTube before it posts
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there. But nonetheless, you can actually see that in the
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chart that I shared on the community tab, it's actually
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annotating this level here. Alright, so let's drop down into
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a five minute chart and give you a little bit of detail here
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that isn't apparent on that 15 minute timeframe. Right, so I
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want to shorten here. All these candles here are a bearish
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order block. And it's also a mitigation block. No mitigation
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block is not a breaker, but it's very similar. So when we
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have price trade up into a level that the algorithm will
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respect, which is that order block I mentioned on that 15
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minute timeframe. Price comes down and runs one more time.
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But fails to go above the swing high here. It breaks down
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with this candle right there. Okay, so we broke all this
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rally up, it trades down and then trades right back up into
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this last upclose candle right there. So when price hit that
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in the next candle, I'm going short. Okay, so I'm selling
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short there, and I'm targeting right below here. Now I could
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fancy dance and try to get real real close to the order
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block that's down in here. Okay, these last two down close
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candles, it's a specific order block. But I want to just
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make sure I get out with a run to the sell side liquidity,
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see this low here. And this low here, there's sell side
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liquidity. For anyone that's long, they're going to jam
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their stop loss rate below. They're not understanding that
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the daily cycle takes us back down into New York session 830
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to 11. There's going to be a high probability, especially if
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there's news coming out. There really wasn't a whole lot of
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new Coming out until around 10 o'clock. But in here, there
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was a likelihood that we would see it pop and go higher
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bullish order block time of day. And we have this high here
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that didn't really quite run high enough in my opinion. And
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we're reaching if we go higher into that 1850 mid figure, so
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price does, in fact, start to rally aggressively. Short term
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high, there's gonna be buy side liquidity resting above
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that. So buying here selling to the buy stops on anyone
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that's going short. Bicycle equity above this high. And as
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it trades above that, that's when I was posting that 80% of
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the positions should come off now. And in the remaining 20%
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of the initial position should be rolled to a stop at 1820
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right in here. Now, ultimately, it did trade back down into
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that and that's fine. It's not a big deal. But if you're
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trading from here, and getting out here that's over 40 pips
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Then you lock in 2015 to 20 pips of open profit on the
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balance, if you get stopped out, you didn't take a loss
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there either. So in theory, it's a nice example today
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showing how when we're in an area where it's likely not to
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create a strong breakout higher or lower and we're trading
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inside the range, you want to take the bulk of your position
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off when it runs into areas like this initial high of the
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day. Mark does, in fact, trade lower into almost one o'clock
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in the afternoon. It's 1240 in my local time, trades down
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into it. Look at the respect of that order. Right there.
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Bang, body again, slams runs away. And we are now trading
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here. So it looks to me as if we might expand on the upside
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run these highs out and reach into the 1850 level. That's
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something you guys can study tonight. Can you make any money
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with it? Probably not. But it's an observation and study for
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you to look at Consider as experience so I think that's
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going to be it for today. I will touch base with you later
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on in the week and I'll give you an example. Till then I
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wish you good luck and good trading.