ICT YT - 2020-11-24 - ICT Forex Lecture - Revisiting The Friday Asian Range.srt

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ICT: Welcome back, folks, this is a short little ditty on forex. Now last time
we spoke, I gave you a lesson on the previous Friday, Asian range. And just to

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show you it wasn't a fluke, I want you to take a look at the economic calendar.
And this was for November 23 2020. And I'm showing the euro dollar and pound and

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dollar at 315 during in London open on Monday, he had French flash service PMI
then at 330, you had a German flash manufacturing PMI. Therefore, I am you had

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to flash manufacturing PMI and then all the way to 9:45am you had the US flash
manufacturing PMI. Now once you take a look at the numbers that came out for

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these respective reports, the forecast was 39.2. The French came in at 38 even
the German PMI number was forecasted 56 came in better at 57.9. Now, generally

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the market digest this information as better or quote unquote, good for the
currency. So this number here 57.9 being better than 56 indicates from a quote

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unquote fundamental basis that the Euro should view that as bullish. The Flash
manufacturing PMI number came in at 53.6. Just modestly above what was the

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forecast at 53.2. Now remember this when we look at the price action. Okay, so
from the fundamental stance, if you just look at these numbers, it looks like it

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should be bullish for euro. But you have to consider the economic calendar later
in the day in New York at 9:45am. mean impact news comes out for the dollar for

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its respective manufacturing PMI number, the forecast was 52.5 unnatural came in
at 56.7. These numbers here during London gave traders the willingness to want

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to be long. And then when we came up to the seven o'clock in the morning time,
that's when I made a notation on my community tab. I said this is where you

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would quote unquote, pay the trader take something off. Now my students know
that we're looking for continuation lower on the dollar, until we took out an

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old daily low. And that happens, right when these numbers carry us into seven
o'clock in the morning, New York time. That starts the ICT, New York open kill

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zone. Now if we take this insight over to the chart, here's what we have just in
raw price action. Now, I'll expand these charts in a moment. But I want you to

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take a look at the sudden reversals that took place. We are in a low volume week
that's traditionally seen because of the US holiday. Now I understand there's a

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lot of countries out there that don't celebrate like we do in the US. But
there's a lot of money looking to make a move in the early part of the week. So

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just know that we have thin market conditions. That means there's not a lot of
volume when the market is bullish or bearish from a central bank level. The

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repricing can be sudden and drastic. Now I'm not saying this was all that
drastic, but I'm sure it took a lot of you off guard today. And you can see the

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run here on the dollar just as a mirror image of what we see in the euro. And
take a look at the price action in here. study this for a moment. And then I'll

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add the annotations. All right, if you're not ready to pause the video because
I'm going to show everything on the chart in terms of annotation. Okay, so

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here's the previous Friday's trading, Friday's high, the low here consolidation
to the week, close. Then we have trading going into a new week. And then we have

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buyside liquidity resting here and the basa liquidity from Friday's high. Now
here's the Asian range on Friday for Friday's calculation, and we do not use

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Mondays Asian range time. Okay. The algorithm is going to remember and refer
back to the previous week. Now if this was contrived if it was all just made up.

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Just cool. incidence, okay, this shouldn't work out like you see, but here it
is. Now, you see other people out there talk about Asian range. And the idea

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that I use when I look at the Asian range is completely

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opposed to everything else out there, you'll never see another trader outside of
myself, or my students obviously refer to refer to another day, or in this case,

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previous week's Asian range. Because they don't consider something like that.
Okay? So when you look at things like this, it's a signature that indicates that

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these markets are absolutely manipulated, controlled, to the nth degree. And I
want you to take a look at the Asian range here, okay, on Friday, so he

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projected out one standard range. So this is one Asian range, measured above and
stacked right on top of each other. Here's one Asian range below it. The second

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Asian range below that, and the third Asian range below that. Okay, and this is
all calculated on Friday's data. Now, if you carry these levels out into the

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future, you get the high here, what's the high on this candle 1.1906 and zero
pets? Well, it just happens to be the actual high the day, the Asian range low

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here for three ranges projected lower, we have a range projection of 1.18009,
pets are off only by a very small degree in the form of 1.1800, and three pets.

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So in this case, I'm only off by six pets, that's not bad. Now, I'm going to
challenge you to look at this idea here and find that with your pivot points,

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okay? Find that with TDI, okay, find that with all of this other stuff. Okay,
this might look like indicators, it's just measuring price relative to time. So

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it's my time and price theory. The first factor, its most important when it
comes to algorithmic trading is time. There's specific things that happen at

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specific times. And if they don't occur, there is no setup. Doesn't matter what
price is doing. If the time element is not there, and then price overlaps with

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it. Those two things have to agree. But the first and foremost and most
important is the time element. Okay. So if you look at this idea, we ran above

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Friday's high, and above the initial highs that were forming here. And during
consolidation here, the market had a protection above Friday's high, and then

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slammed into this level right there. Now again, thousands of you 10s of
thousands of you got that alert this morning, on my community tab, it's still

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there, you can still see it. And it says very plainly that take something off
here. Pe the trader happens right in here and it hits that level. And this is

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what you get now what's actually occurring here. The market sees the Euro flash
PMI at 330. That's what this level is here. Okay, so low forms at 330. Again,

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back to the calendar. At 330. We had good numbers coming out 57.9 versus 256.
It's modestly better, but nonetheless, it's better they pump it up and above

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Friday's high to just any random level above Friday's high. How do you know
Michael? How do you know how far it's going to go ICT? No one could know these

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things. Well, here it is using the IDF taught you for free right here on this
YouTube channel. one standard deviation on the Asian range above it using

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Friday's data projected out in time. Bingo. Hello. Find that in your textbooks.
So what happens after that it hits it. That's where you would scale out take

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profits or completely collapse your trade. Or if you are a contrarian trader,
you can look at that as an idea that okay, we do have cells out of Kota down

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here and Monday might happen to be a day where you kept a little bit more
retracement lower. This is why I don't like Mondays, Mondays tend to create the

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precursor to the weekly range. I'm willing to give up Monday's opportunity. Now
there's some of you that are hard and fast. Oh, there's no way I would ever give

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up trading on Mondays I got to take every single day as a trading opportunity.
Okay, that's fine. That's you, just not me. But for me to have continuity,

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consistency and longevity as a career. trader. I have to have rules. And these
rules have to be pretty significant and informed that I'm no longer going to

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just guess I have to look at things objectively measure them. And if I can do
that, with a fixed set of rules with a protocol and process in place, that I'm

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going to hopefully overcome fear, greed and emotional stimuli that would
otherwise wreck another traders mindset.

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The algorithm extends price above Friday's high, once it hits this specific
high, with high one standard deviation, Asian range from Friday's data. This is

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the same stuff I taught you the last time and years ago when I introduced this
concept. At 945, this candle right there, what is going on there? Well go back

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to the calendar at 945. The US dollar has 56.7, much more improvement than what
was forecasted at 52 and a half. So between the two here, okay, the dollar has

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much more, quote unquote, fundamental driver behind it being stronger or good
for the currency. Again, this number here, if it comes out better than the

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forecast that's viewed as a good or an underlying bullish scenario for the
currency. Now, that's not always the case. That's why fundamental data by itself

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can hurt you. So you have to blend some things. Now. There's a lot of
individuals that would have looked at the price action this morning in euro and

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said, Well, this is going to keep on going and not even consider taking
something off or taking your position as a long and partially taking something

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off or paying the trader or they just made this leave their original stoploss in
place and then get caught in something like that. That's why I teach my students

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in my viewers on this channel to take partial profits. Because while you're
learning and developing as a trader, you're not going to have the experience to

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anticipate the likelihood of this type of thing occurring. Now, remember, I said
moments ago, the things that occur in price are linked to time. And price. I

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posted that comment on my community tab on my YouTube channel. Right as we are
going to the seven o'clock hour in New York time, because I understand that that

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window of opportunity begins at seven o'clock in the morning and we may get a
potential market reversal profile. You can't argue with it, folks. The element

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of displacement Here comes on the heels of a much better number for the dollar
than that of that was bullish for Euro here. So the only thing the algorithm did

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here was allow the market to build up a protraction above Friday's high hold
price in here. What do traders see in that regard? They see bullish bull flags.

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Okay, they look at this run above these highs. I think that's a bullish
breakout. What is remaining in the marketplace after it gets above Friday's

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high. We have a single swing low here. So yes, that's a liquidity pool for sell
side. But more specifically, rollback to Friday's data. We have relative equals

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what recipe below their sauce on liquidity. So if they are engineering a run on
Fridays Hi, that's tradable. You can be a buyer there you can be a buyer into

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Sunday's opening, and ride that up. 4550 pips there's nothing wrong with that.
That's a one week opportunity or a one shot one kill scenario as I teach it. But

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once we're above Friday's high, you have to be nimble. And also, I'm encouraging
everyone, that's my student to respect the level of elevated risk right now.

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Because of all the uncertainty with the US presidency, all the illness and
impact it has on nations and their economies. We are waiting for the next shoe

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to drop at any given moment, something can come out and caused a rapid repricing
in the marketplace, and you will be completely taken off guard. Like today, if

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you saw this type of move here. And it surprised you. It's because you don't
understand the elements of the risk that's involved in this environment right

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now. And technical analysis, not in the sense that you can find it in the
trading books. But the things that I'm teaching here on this YouTube channel,

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they're there because it's built around the principles of time and price in
algorithmic theory. So the market has a displacement, lower running out Friday's

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lows and projects rate down to three Asian range below their regular Asian range
here. Beautiful turning point there. Now I'm going to challenge you and I want

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you to Consider everything I'm showing you here. How much more proof? Do you
need to see?

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Did you see any kind of moving averages here? How about diagonal trend lines?
Was there any harmonic patterns here that I use any Zoo animal references? Okay,

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harmonic bat, a harmonic shark, a butterfly. We don't use those things, because
all you need to know is time and price. And their specific characteristics and

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signatures that repeat in the marketplace. And unless you are taught, you are
never going to know these things. They're not in books. No other person is going

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to teach it but me. And now my obviously I have students all around the world.
It's the we have an army of people growing all around this globe. And they're

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all starting to think, like I'm training than the think. And it's not retail.
What about this looks familiar. Because it doesn't look familiar to any of you

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outside of what I have taught in recent years. And this is something that you
can see form every single week. Now, I don't know about you, but when I

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discovered this, it was like I was waiting for the knock at the door. I was
waiting for the black suits. come knocking on my door, because it felt like it

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was forbidden knowledge and I should not have it. Because it repeats like this.
This is what I refer to as Swiss time piece precision. You can't escape it. You

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can't write it off as coincidence. You can't look at it and say well, he never
really said to use Friday's range for the Asian range for Monday's trading.

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Because I did. In fact, it was just the last video I gave you on YouTube. So for
the pundits out there that wrestle with me from the sidelines or sending me an

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email, just know that I do this to encourage you to dig deeper into the things I
teach, because you haven't seen the half of it yet. For everyone in the United

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States, I would like to wish you a very safe and happy Thanksgiving, everyone
else around the world. Please be safe, respectful, elevated risk that we have

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right now. And I'll talk to you again next weekend.