ICT YT - 2020-12-06 - ICT Forex Price Action Lesson - Trending Days.srt

1
00:00:30,390 --> 00:00:40,710
ICT: Hi folks, welcome back to ICT with a very brief discussion on how to find
intraday trending days. Now what is an intraday trending day when you're looking

2
00:00:40,710 --> 00:00:53,130
for an obvious buy condition for day trades or scalps or sell short days, where
it's just most likely to work in conjunction with the higher timeframe bias. Now

3
00:00:53,130 --> 00:01:03,630
you can see since the month of March of 2020, the dollar has had a real
difficult time trying to go higher said the obvious momentum is been on the

4
00:01:03,630 --> 00:01:12,720
downside. Now, I'm going to ask you to grant me a little Liberty here cuz I know
a lot of people like to give me flak about home point in hindsight, when I've

5
00:01:12,750 --> 00:01:21,900
given examples on here, we can see me trading before the stuff actually unfolds.
So just give me a little bit of flexibility here. And I'm going to teach you

6
00:01:21,900 --> 00:01:31,170
something that we can go into the charts and start looking for it. Okay. So when
you have a market that is predisposed to go down, in this example, here, we're

7
00:01:31,170 --> 00:01:40,800
working with the dollar, everything that I described here would be the opposite
for like euro, or cable, which is British Pound versus US dollar. And we're

8
00:01:40,800 --> 00:01:48,570
going to look at a few things. And I'm not going to do a whole lot of it in the
chart. It's basically you listening and taking notes. Now I want to point at

9
00:01:48,570 --> 00:01:58,710
some things in the chart. But most of this is going to be just me giving you the
lecture points, okay, or the salient points that you should come away from this

10
00:01:58,800 --> 00:02:12,090
teaching. When the markets predisposed to go lower, we are going to work within
the framework of Monday, Tuesday, Wednesday, are going to be your best ideal

11
00:02:12,090 --> 00:02:25,140
entry days. Now, if we were looking at Dollar Index, as we have here, and it's
been bearish, each week, we go in looking for the continuation of this

12
00:02:25,170 --> 00:02:35,460
underlying premise premise being that the dollar is weak, it's going to go
lower. So therefore, if the algorithm is going to reprice at a lower price for

13
00:02:35,460 --> 00:02:46,620
the dollar, you're going to be best suited looking for short sells, or going
short one, Monday, Tuesday or Wednesday. Now, it does not mean and it's not

14
00:02:46,620 --> 00:02:56,580
limited to just those three days, it can still have a sell off day on Thursday
and Friday, every single day of the week could be down days. The topic of this

15
00:02:56,580 --> 00:03:08,400
lecture is how to find trending days where everything is perfect. It's just an
ideal scenario. If you're familiar with my lesson on Power of Three, okay, power

16
00:03:08,400 --> 00:03:18,630
three is the open high low close phenomenon when the market is bearish, where we
can go short at the opening price of the daily range or above it, and then ride

17
00:03:18,630 --> 00:03:28,290
the daily range down to what would be classically referred to as the closing
price. Well, since the foreign exchange and forex market doesn't technically

18
00:03:28,290 --> 00:03:37,170
really close until Friday, what am I referring to, I'll give you a little bit of
talking points about that too. So you can go into your charts and dress them up.

19
00:03:37,440 --> 00:03:47,820
And you'll see right away what I'm talking about. So we're looking at a market
that is predisposed to go lower, as I said, and that means on this example,

20
00:03:47,820 --> 00:03:58,620
we're gonna be looking for Monday, Tuesday, Wednesday, sell days. Now, if we
look at what has just transpired last week, we had a run below this low here.

21
00:03:59,400 --> 00:04:12,330
Okay. Using this mindset, going into the week, with the expectation that Monday,
Tuesday and or Wednesday, could be really classic down days. Now, what is a

22
00:04:12,330 --> 00:04:20,850
classic down day? Let's go into the hourly chart, and I'll give you some
information about what classifies a classic down day, and what characteristics

23
00:04:20,850 --> 00:04:32,250
are available when we're looking for it. Okay, so we are in the hourly chart for
dollar index and the daily separators. And this line here is that old low

24
00:04:32,280 --> 00:04:41,820
reference on the daily chart before I drop down into the hourly chart. So the
idea is we're looking at a bearish market environment and whether you want to

25
00:04:41,820 --> 00:04:53,400
call it momentum or do you want to call it trend, whatever it is that you are
classifying the dollar is for your model, is it going to be bullish or bearish?

26
00:04:53,820 --> 00:05:02,490
We're going to assume that whatever that was that you arrive that lower lows,
lower highs, all that business This, you might use moving averages, if you're an

27
00:05:02,490 --> 00:05:11,610
indicator type of person, I don't really use indicators like that. But if it
helps and works for you, then by all means, I guess continue to use it. But if

28
00:05:11,610 --> 00:05:22,650
you look at how Monday's trading started, okay, we opened up here, traded
higher, made a high, which happens to be the high of the week. So as I indicated

29
00:05:22,710 --> 00:05:26,220
at the beginning of the video, and I teach this in other lessons,

30
00:05:27,540 --> 00:05:38,970
how to find explosive price action moves is one of my classic teachings, where I
teach the weekly Power of Three, which is the funnel like where we open, create

31
00:05:38,970 --> 00:05:48,990
the high of the week, and break down on Tuesday, we trade again higher, and then
work towards the low end of the range later in the day. And then Wednesday, we

32
00:05:48,990 --> 00:05:56,640
get another rally initially during the London session, and the market trades
lower. And then on Thursday, we get same phenomenon we open rally up, create the

33
00:05:56,640 --> 00:06:03,780
high the day and trades low, making the low day and and consolidates into that.
And then finally, Friday makes the low of the week. And it goes into

34
00:06:03,780 --> 00:06:12,780
consolidation as the trading week closes. Now that is obvious. And for most of
you that are very cynical, you'll see that and say, Well, you know, that's

35
00:06:12,780 --> 00:06:22,020
that's obvious what one wants us to take away from this, that I don't already
know. If you're bearish on a higher timeframe, weekly and daily, both of those

36
00:06:22,020 --> 00:06:33,120
timeframes agree, or your analysis lends well to it continually moving lower,
then you're focusing on Monday, Tuesday and Wednesday to see these types of

37
00:06:33,120 --> 00:06:44,970
phenomenon where it creates a high and then the market repels away from that,
does it stay at the highs long? No. It leaves it quickly here tries to run back

38
00:06:44,970 --> 00:06:57,000
up rebalances in here and then breaks down aggressively. Wednesday again, same
scenario, we run up and then break down hard. Thursday, I want you to look at

39
00:06:57,000 --> 00:07:09,180
this pattern right there. Okay, see that? This is not I didn't send this chart
on to my community tab. But I showed you a five minute chart of this particular

40
00:07:09,180 --> 00:07:19,530
day. So in your notes, I want you to write down that when you are bearish on
higher timeframe charts weekly and daily if both of those agree. And there's

41
00:07:19,830 --> 00:07:29,730
many lessons in my youtube channel that will help you derive what that direction
should be, or how to find that direction, using the way I do it. And if they

42
00:07:29,730 --> 00:07:40,710
agree and they're saying both of them are bearish. Every single trading week,
you go into your analysis with the expectation of a sell scenario forming on a

43
00:07:40,710 --> 00:07:52,530
Monday, a Tuesday and on Wednesday. Now, it can continue into Thursday. But if
it's bearish, there's a high probability that the weekly range will create the

44
00:07:52,560 --> 00:08:05,370
opposite end numbers if we're expecting bearishness and a big down week,
Thursday tends to make the low of the week about 65 to 70% of the time during

45
00:08:05,400 --> 00:08:17,880
the New York open, okay, or the New York session. There are times when it will
continue on into Friday. In this case, it went down just a little bit more meta

46
00:08:17,880 --> 00:08:27,240
target that I gave to my community and then repelled that's not the scope of
this lesson. Now before you get upset and you think all you're holding things

47
00:08:27,240 --> 00:08:38,790
back, why'd you even bother coming here? I want you to think about the
likelihood of this being where you targeted for the dollar and say you were able

48
00:08:38,790 --> 00:08:52,890
to capture a move from here, or here or here. Would you be upset if you got out
there when it only went down this far the following day? Now I asked another

49
00:08:52,890 --> 00:09:02,940
question. With a similar vein. What happens if you took your profits with the
analysis saying here is the time when you thought that the weekly range would

50
00:09:03,120 --> 00:09:14,910
end? It wouldn't go any lower. And but then it went down another 80 pips, would
you be upset? If you said yes, you need to reevaluate why you would be upset

51
00:09:14,910 --> 00:09:24,690
about that. Because if you were able to get out there or in close proximity to
that low from this entry point here, here or here. That's an enormous amount of

52
00:09:24,690 --> 00:09:36,660
range, like that's the lions portion of the weekly range and no one if they're
able to capture that should be upset. Because if you feel that it's something to

53
00:09:36,660 --> 00:09:46,230
get upset about, if you hold only to here, and it drops in additional 80 pips,
you're wrestling with something that is not realistic, because you're not going

54
00:09:46,230 --> 00:09:56,610
to get every piece of every move. That's not going to happen. I don't teach that
I don't promise that a new mentor or teacher should and if they do, that's a

55
00:09:56,610 --> 00:10:04,740
clear indication you need to run away from them because they're promising you
the moon And they can't deliver it. What can we do with this information though,

56
00:10:05,190 --> 00:10:12,120
let's assume for a moment that you believe what I'm suggesting you go into your
charts and look for it. Now, right away, some of you are going to say, okay,

57
00:10:12,120 --> 00:10:24,210
Michael said, Every bearish week is going to have a sell on Monday, Tuesday and
Wednesday. And then Thursday, could happen to have another down day. And you're

58
00:10:24,210 --> 00:10:28,020
gonna look for every instance that it does not fit that criteria.

59
00:10:29,280 --> 00:10:37,800
And the things that you're going to be not paying attention to, is there are
times when this market should be expanding, creating these big weekly ranges,

60
00:10:37,890 --> 00:10:46,650
there isn't always going to be this big, big weekly range expansion on the
downside, or, conversely, big range expansions. On the upside. There are things

61
00:10:46,650 --> 00:10:54,930
that you have to learn from a market structure standpoint, and I give a lot of
these types of lessons in this YouTube channel for free. But when we break a

62
00:10:54,930 --> 00:11:04,710
low, like this line up here indicated on the daily chart when we broke through
that, you always anticipate some measure of expansion. Now you're classically

63
00:11:04,710 --> 00:11:14,820
taught to look for a break, and retest and then go short. Well, you can see they
went below here and pumped it up above it. That is a little unsettling for

64
00:11:14,820 --> 00:11:22,140
people that like to use support resistance, because why didn't it Stop right
there. The market trades one more time below it and goes right back above again.

65
00:11:22,560 --> 00:11:29,970
But notice it doesn't stop right, that old low. Again, this level here, go back,
rewind the video, you'll see this low. If you look at your own charts on trading

66
00:11:29,970 --> 00:11:41,010
view for dollar, you'll see that this level here 9174, and six pets is the level
that's that old well on a daily chart. So it goes below and then sweeps back

67
00:11:41,010 --> 00:11:51,150
above it. It's not just going above it because it's random. It's going above it
to rebalance this little area right in here. Can you see that? So after it

68
00:11:51,150 --> 00:12:01,560
rebalances there, it breaks down aggressively. But now, this red line is not the
lows that we watching this low is the Monday low. So what we're doing is is

69
00:12:01,560 --> 00:12:11,910
we're watching does it have the ability to break the previous day's low? Does it
break it in a subtle manner? No. It expands aggressively through it. So it's

70
00:12:12,030 --> 00:12:21,720
destroying this low here and confirming the run below here. So it's done it on
Monday creating a high on Tuesday, it shows aggressive movement lower. Now on

71
00:12:21,720 --> 00:12:31,110
Wednesday when new traders or neophytes watch real time intraday price action
during London, they see these big pops up. And they think okay, well we'll look

72
00:12:31,110 --> 00:12:40,650
at these lows here. And I'll put momentum indicators like CCI stochastic RSI,
you know, I'm talking about overbought, oversold indicators. And they'll be

73
00:12:40,650 --> 00:12:49,530
flagging, bullish divergence. And they'll be thinking, Okay, it's kind of the
low. And they may think that maybe it could trade back up to that level here,

74
00:12:49,530 --> 00:12:58,740
because that's an old, higher timeframe low. So that could be a resistance
level. And when they start to chase price like that, it will be very frustrating

75
00:12:58,740 --> 00:13:09,780
for them. When it starts to break down again, when it starts to break down. What
low would they be attacking? The low that was formed in early trading on the

76
00:13:09,780 --> 00:13:19,980
second does it trade through that subtly? No, it aggressively punches through it
with energy, then comes back up rebalances and then sells off again, going into

77
00:13:19,980 --> 00:13:32,730
the close. Now on Thursday, the same type of phenomenon we're expecting. We're
waiting for it to open, create a high the day during in one session, and then

78
00:13:32,760 --> 00:13:46,050
trading aggressively lower but then forming a low during the New York session.
That low that forms on the New York session tends to be with a great deal of

79
00:13:46,440 --> 00:13:56,700
statistical evidence behind it and I'll leave that to you. There are strong
statistics to support Thursday being the low of the week in the New York session

80
00:13:57,180 --> 00:14:09,870
when we're having a large expansion, weekly range, okay. If you looked at my
community tab that day, okay, I said take it paid pay the trader that's the

81
00:14:09,930 --> 00:14:18,840
moniker I use all the time when I say prompting my students okay in your notes,
you should be saying this is where the lion's portion of the move is then put in

82
00:14:19,050 --> 00:14:30,240
there so therefore, I would be classically moving to the sidelines and taking
profit. I did that right before all of this run here. So it was done real time

83
00:14:30,480 --> 00:14:45,360
on my community tab. My target for the week was 9047 and seven pets and the low
of the week come in one pet below. You can see that low here at 9047 and six

84
00:14:45,360 --> 00:14:59,970
pets so one pet that lower than I was expecting, and then I created the low of
the week. Now Friday, like Mondays. If you can grow in allowing yourself to say

85
00:15:00,660 --> 00:15:10,860
I can take trades on Monday, I can take trades on Friday. I'm not completely
opposed to it. But there are better trading opportunities on Tuesday, Wednesday

86
00:15:10,860 --> 00:15:23,910
and sometimes on Thursday. Thursday's tend to be really good reversal days. And
Tuesday and Wednesday tends to be really good trend entry days. Now, think about

87
00:15:23,910 --> 00:15:26,640
what I just gave you. When a markets bearish,

88
00:15:27,419 --> 00:15:36,239
you want to be looking for ideal scenarios to sell short Monday, Tuesday and
Wednesday. I'm willing to give out Monday's trading because what Monday's

89
00:15:36,269 --> 00:15:46,079
trading does, it gives me a little bit more insight as to what the weekly range
may do. Because I have weekly profiles that I classify certain scenarios the

90
00:15:46,079 --> 00:15:58,529
algorithm will likely unfold throughout the week. And what do I mean by that?
They're like little schematics that give us the rough idea on how the daily

91
00:15:58,529 --> 00:16:09,419
ranges will print. Now, that probably sounds crazy, but they're just general
rules of thumb. They don't always exactly pan out. They are good rules of thumb.

92
00:16:09,449 --> 00:16:18,329
They help guide me and my students, but it takes a lot of experience to learn
them. And sometimes I get it wrong. And that's nothing wrong with that. But if

93
00:16:18,329 --> 00:16:27,689
we're overwhelmingly bearish as we've have been for dollar, it is a huge
advantage, especially if you're a new trader to anticipate Mondays, Tuesdays and

94
00:16:27,689 --> 00:16:38,579
Wednesdays to be amazing selling days or going short. During the London session,
again, that's where I teach it even in this YouTube channel for free. That's

95
00:16:38,579 --> 00:16:48,329
when the intra week. Now what does that mean intra week, this is an intra week
high. This is an intra week high. And this is an intra week high during the

96
00:16:48,359 --> 00:16:59,159
Monday and Fridays trading range, whatever that range is that forms the weekly
range. Every short term high here in the London session, our respective intra

97
00:16:59,159 --> 00:17:11,159
week highs, I'm looking for the market to move away from these intra week highs
or individual intraday highs and attack previous day's lows. If I see that what

98
00:17:11,159 --> 00:17:23,279
I'm getting in line with is the institutional order flow. So now I have a pre
conceived idea of bearishness on the weekly and the daily for dollar. If we drop

99
00:17:23,279 --> 00:17:32,429
into these lower timeframe charts, we start looking for these things to occur to
support our narrative, the narrative is that the dollar should go lower up to

100
00:17:32,849 --> 00:17:48,329
New York on Thursday. So that will be right in here. So here's nine o'clock in
the morning on Thursday. And I asked you look at this range in here. So is it

101
00:17:48,329 --> 00:17:58,709
hard to see this pattern in hindsight? Well, that will depend on how much time
you want to put into studying it. I'm giving you these details to go into your

102
00:17:58,709 --> 00:18:08,339
chart and start looking at it. Studying every individual weekly range, an
individual daily ranges the Monday, the Tuesday and the Wednesday, and how it

103
00:18:08,339 --> 00:18:18,719
trades into Thursday on New York open. That is such a huge advantage. And if I
would have known these things, when I first started in 1992, I would have done

104
00:18:18,719 --> 00:18:30,029
very, very well and not probably had as much pain in my development. Then I had
to endure. But I'm going to go into this little area here. And we'll drop down

105
00:18:30,029 --> 00:18:38,279
into that five minute chart. We'll wrap this video up. Okay, so we're zoomed in
on a five minute chart of the dollar index on the third of December. This is

106
00:18:38,279 --> 00:18:51,239
last week's trading. And this is what I call a classic trending day or a classic
bearish ICT power three day where we open make the high today first expansion

107
00:18:51,479 --> 00:19:02,099
makes the low of the day and then consolidates into the close. When you're
looking at forex, okay. And I know a lot of my audience are spread out across

108
00:19:02,099 --> 00:19:15,059
the globe, like everybody else on YouTube, everyone is not in the same
geographic location. The way we compensate for that is on the time window thing.

109
00:19:15,059 --> 00:19:24,779
Now here, you want to set that to New York. Okay, so New York timeframe, you
click that everything I'm showing you here, will line up perfectly, you just

110
00:19:24,779 --> 00:19:33,029
have to figure out what that means at your local time. Okay, so to save myself a
lot of confusion and a lot of work, please don't email me and ask me what the

111
00:19:33,029 --> 00:19:42,119
conversion is. If you set your trading view charts to New York time, everything
that I teach on this YouTube channel will make sense. But if you try to set it

112
00:19:42,119 --> 00:19:49,289
to your local time, it's going to be very confusing. You're going to see that
this stuff isn't lining up like you would imagine it doing because it's not set

113
00:19:49,289 --> 00:19:59,219
to your local time. Okay, it's not set to time in France, okay. It's not
following that clock. It's not following the clock in Hawaii. Okay. You set it

114
00:19:59,219 --> 00:20:08,759
to New York time. everything is relative to New York time, you can be mad about
that you can be upset about it. Or you can just say, Alright, Michael saying

115
00:20:08,759 --> 00:20:17,219
that. So I'm going to just do that. And that's all I'm asking you to do. Just do
it and everything else will fall in line. this vertical line here indicates

116
00:20:17,249 --> 00:20:28,349
midnight, New York time. If you add another vertical line at noon, right there,
okay?

117
00:20:28,829 --> 00:20:41,909
You have the two dividing time windows that I use to teach my students. All the
stuff that happens after this. Not important to me. Everything prior to this,

118
00:20:42,239 --> 00:20:54,149
not important to me. For the daily range, you're going to look at these two
specific times. It's a 12 hour window opening. If we're bearish, we don't care

119
00:20:54,149 --> 00:21:07,859
about the rundown. We want to see it run up above the opening price. This is my
classic power three idea. The high forms at 4:40am. On Thursday, the market

120
00:21:07,859 --> 00:21:19,049
breaks down, comes back up rebalances in here, trades into a bearish order
block. Right here, right there. Why not this one here? Michael, look at that. I

121
00:21:19,049 --> 00:21:30,449
mean, wideness. I know some of you are saying Why do you pick that one. And this
one tells you almost like I'm clairvoyant. This candle has a larger body, even

122
00:21:30,449 --> 00:21:40,349
though this one's higher. This is something else. But I'm using the order block
here. This is your order block, not this one, because we don't teach supply and

123
00:21:40,349 --> 00:21:48,569
demand. And there's other things in this chart. And now it's not just the fair
value gap either. So you guys have been introduced to that. This is your bearish

124
00:21:48,569 --> 00:22:00,719
order block, trades up into that bumps the body of that here, and then breaks
down. We trade back up a little bit subtlety and then break down again. Market

125
00:22:00,719 --> 00:22:20,339
trades back up again here. What is this? See that? What is this? That's the
optimal trade entry. What is this optimal trade entry? Here? And then you have

126
00:22:20,339 --> 00:22:35,309
it here. Okay. If we have an optimal trade entry, and it starts to sell off,
what are we expecting it to attack that low? If it breaks this low, how far can

127
00:22:35,309 --> 00:22:52,979
it go? Well, you have two factors here, you have the element of time, and price.
Not price and Time, time and price. So if we have in terms of time, alright, so

128
00:22:53,009 --> 00:23:08,069
we have it set to 10 o'clock to 11. Okay, that's your sweet spot. That is the
sweet spot of London close. With I mentioned earlier in this video that we can

129
00:23:08,069 --> 00:23:20,369
generally anticipate the low forming during the New York session on Thursday.
But what closes that window and has an overlap of an important turning point

130
00:23:20,399 --> 00:23:32,249
intraday, London close. So we're going to use the 10 o'clock in the morning till
11 o'clock in the morning profit taking period where intraday traders, they

131
00:23:32,249 --> 00:23:42,959
usually square their positions around that time. Now I can go as long as noon
day with which is here. But this is the general area where I like to take

132
00:23:43,259 --> 00:23:53,009
profits. And if you look at some of my old videos, this is something that I
taught pretty religiously. So we have the London session high optimal trade

133
00:23:53,009 --> 00:24:01,739
entry. Then we have the New York session, this candle here seven o'clock in the
morning right there. Okay, so it's setting up the optimal trading sheet that

134
00:24:01,739 --> 00:24:12,239
would sell off during New York session. And we want to see it attack this low.
If it does, what can we anticipate in terms of a target, if we're in a trending

135
00:24:12,239 --> 00:24:22,619
model in the market is clearly indicated wants to go lower, as shown it on the
weekly has shown on the daily. And we've seen Monday and Tuesday and Wednesday

136
00:24:22,619 --> 00:24:35,009
indicate that it is absolutely working to a large expansion on the downside for
the weekly range. So that means Thursday could start to see what a big range day

137
00:24:36,269 --> 00:24:46,649
everyone else is thinking it's oversold. It's oversold, it's oversold. So when
we attack this low, how far can it go? Well, let's take a look at that. I like

138
00:24:46,649 --> 00:24:50,009
to use a fib for targets.

139
00:24:50,640 --> 00:25:00,000
One of the things that I mentioned a few times in my discussions on this
channel, is my weakest point has always been my exits and not because I can

140
00:25:00,000 --> 00:25:08,580
Can't find profitable exit points. It's because I can't find contentment. Always
looking at after the fact and saying, I wish I would have did this, I wish I

141
00:25:08,580 --> 00:25:14,280
would have done that. So no one's ever right in this industry, okay, you're
never even if you're profitable, you're never right, gentlemen, if you're

142
00:25:14,280 --> 00:25:22,050
married, you know, your wife is definitely going to tell you that you aren't
right. Okay? Because you lost money. But you as the man, even when you are

143
00:25:22,050 --> 00:25:28,980
profitable, you aren't going to feel right either. Because it may go a little
bit further, you'll wish you had more on the trade. It's just you're never going

144
00:25:28,980 --> 00:25:43,380
to be content. So I, in my honesty, the flesh of me, okay, I wrestle with this
idea of perfection or my exits, where my entries can be scary accurate, my

145
00:25:43,380 --> 00:25:55,080
exits, I have to do it as a grouping. And so I've adopted this idea of taking
logical partials or taking a specific price level and just completely getting

146
00:25:55,080 --> 00:26:03,930
out of it. If I'm really conflicted about how far I think it's going to go, I
just pick a really good middle ground exit point. And I just take all that off

147
00:26:03,930 --> 00:26:12,870
there. And I just tell myself, it is what it is, if I miss out on another 100
pips, who cares? You know, usually I'm taking down 50 to 75 pips. And who cares

148
00:26:12,870 --> 00:26:22,770
what, you know, somebody else can say they made, I don't care. If he wrestled
with that all the time, you're just going to be miserable, and you won't enjoy

149
00:26:22,770 --> 00:26:30,180
this industry, you won't enjoy the career that you're trying to frame for
yourself, or hobby, you know, depends on how you want to look at it. But

150
00:26:30,180 --> 00:26:37,740
initially, you had to look at it like it's a college degree, that means
something at the end, because you're not going to do this with a couple weeks of

151
00:26:37,740 --> 00:26:44,880
study, or a couple months and know how to do it, because you need to figure out
a lot of things about yourself. But this framework I'm going to give you here

152
00:26:44,910 --> 00:26:55,020
will give you one of the ways I like to look for specific price levels, but
coupling it with time. So again, what's the first time so we're aiming for this

153
00:26:55,020 --> 00:27:01,830
particular time window, the day between 10 o'clock 11 o'clock in the morning.
Now, there's gonna be times when it will make the low today, just before 10

154
00:27:01,830 --> 00:27:11,370
o'clock in the morning. And you'll be like, Oh, it was early. And sometimes
it'll go into 1130, a quarter 12. And sometimes it might be 1215. These are

155
00:27:11,370 --> 00:27:19,620
general rules of thumb, there's always going to be some slight little variance
in here and there. But it's going to serve you better than anything else out

156
00:27:19,620 --> 00:27:29,160
there in the retail logic. So we're aiming and holding willing to hold until we
get into this time window. Okay, we enter that time window about right there in

157
00:27:29,160 --> 00:27:37,770
this candle. It starts it in that candle at 10 o'clock. So if that candle could
have been the low of the day, why do you know, Michael? because now you're just

158
00:27:37,770 --> 00:27:43,440
talking about it could have been this one? It could have been this one in this
one. It could have been that one? Or you know, what about that one? That could

159
00:27:43,440 --> 00:27:54,600
have been it right? Why this one, huh, now to get the element of price. Because
we have the time window down here, I moved up to the hourly chart. And this is

160
00:27:54,600 --> 00:28:07,260
our Wednesday price swing high. And then it starts to break down. Wednesday's
high. And the sell off prior to these lows being taken out, we can know a high

161
00:28:07,260 --> 00:28:20,640
degree of probability of a particular price level being traded to what you do
that is you want to take the high to the low here. Okay, that high to that low.

162
00:28:20,760 --> 00:28:31,170
Why? Because this is an impulse like, and this is a fulcrum point when the
breaks below that this range here, projected down is here. That's one standard

163
00:28:31,170 --> 00:28:44,220
deviation of this low to high. This imagine this being a hinge. And this swings
down to here. But markets aren't always perfectly symmetrical like that. So this

164
00:28:44,220 --> 00:28:53,940
is the reason why I taught you how to use hips. Okay, so every standard
deviation has a half. So this is one full standard deviation, and one and a

165
00:28:53,940 --> 00:29:10,140
half. What's the one and a half 90.5 to 190, point five to one, it's add that to
our chart. Okay, and we're going to drop back down into that five minute chart.

166
00:29:10,230 --> 00:29:19,050
Okay, so here's the optimal trade entry on that particular day for the London
then we have it here for New York. The market breaks this low, how far can I go

167
00:29:19,050 --> 00:29:30,090
down? We have this price level here. And the overlap of time. Look at the bodies
in here. Yes, you have little tails that went a little bit lower. But look at

168
00:29:30,090 --> 00:29:43,320
the body's respecting this level. That's not random. The market seeks these
levels and couples it with time. So this area in terms of time and this

169
00:29:43,320 --> 00:29:47,910
particular price level with the fib that's a target.

170
00:29:48,180 --> 00:30:01,500
This is the very reason why I said oh my community tab. See that low one Dixie
wave. That's that's the below the day on Thursday. Here's how that overlap

171
00:30:01,530 --> 00:30:13,590
worked out with time. And price. Time is the element that you hold for you
submit to that, because you don't know how long it's going to take. Outside of

172
00:30:13,590 --> 00:30:26,640
specific time windows, you have London close, you have New York, open, London
open. In Asia, New York, close is a little quirky. So I don't try to teach too

173
00:30:26,640 --> 00:30:32,940
much of that even in my mentorship, because you have to have a whole lot of
things understood before that is even useful to you. And usually, that's like

174
00:30:32,940 --> 00:30:42,690
the two o'clock, the four o'clock in the afternoon window, and usually two
o'clock, on the biggest extreme days, usually two o'clock hour usually completes

175
00:30:42,690 --> 00:30:56,910
the daily range. For this example, what I've outlined here is how the element of
price with time initially is a more important factor than just simply a price

176
00:30:56,910 --> 00:31:10,710
level. Back to the hourly chart, we can look at how this one standard deviation
here, and is a 9071, six, and the price level is 9071. Seven. So just to keep

177
00:31:10,710 --> 00:31:23,130
things honest, there we go. Now we're going to drop back down into that five
minute chart. Here's that first objective with one standard deviation using the

178
00:31:23,130 --> 00:31:36,060
previous day's range and projecting it down. Notice that at that price level,
okay? It did not trade at that level at the same time. That 10 o'clock to 11

179
00:31:36,060 --> 00:31:38,400
o'clock in the morning, I'll show you what that looks like here.

180
00:31:51,480 --> 00:32:03,420
Okay. So, at 10 o'clock in the morning, we were already below this target here.
So that's the reason why I teach time. And price, because the algorithm is

181
00:32:03,420 --> 00:32:17,700
looking at time. First and foremost, then price. So if this would have been
touched or traded to at 10 o'clock in the morning, which it traded to it here,

182
00:32:18,150 --> 00:32:32,700
initially. So at 750, is that an element of time that I've outlined here for
London close, but still during New York? No. It trades through it here. It's

183
00:32:32,700 --> 00:32:45,780
trading around it here. It's 935 940, New York time, and then it leaves it. So
it starts to move away. So if it takes out this low here, what should you be

184
00:32:45,810 --> 00:32:55,050
aiming for this price level and holding up to 10 o'clock in the morning till 11
o'clock, to see that target be met. And the algorithm delivers that price

185
00:32:55,050 --> 00:33:11,610
perfectly. Now you get a little bit of tails in here, but look at the bodies.
Look at the close on this price here. 90.519519. That's three pips away from a

186
00:33:11,610 --> 00:33:22,080
projected low the day that you could calculate back here. Think about that.
That's crazy. And you couple that with entry patterns, and you start to see how

187
00:33:22,170 --> 00:33:30,750
I can do the things that I teach and illustrate on this channel. It's not always
just hindsight, folks. But you have to learn things conceptually, through an

188
00:33:30,750 --> 00:33:39,540
element of hindsight. This is how you see things conceptually. And it gives you
just enough evidence to go into your charts, they collect Intel for your own,

189
00:33:39,990 --> 00:33:50,100
then you can start seeing these things, patterns and, and completions of time
and price. They're algorithmic, and they repeat a lot. But you have to have

190
00:33:50,100 --> 00:33:59,790
certain things in agreement to get them. Now I could have just simply said, This
isn't hindsight. And there it is, but I used it in front of all of you during

191
00:33:59,820 --> 00:34:10,680
this particular day. The very next day, it trades to our objective that our
community has been looking for for the dollar, which was 9047 and seven

192
00:34:10,680 --> 00:34:21,330
pipettes. And it went one pet below that. Not even a half a pip, not a quarter
of a pip one PIP that one 10th of a pip. That's the the error I had there. So it

193
00:34:21,330 --> 00:34:30,180
went one more one 10th of a pip beyond what I was calling for, and then made a
load a week. So if you're looking for big trending days, you want to be looking

194
00:34:30,180 --> 00:34:43,110
at higher timeframe charts, and then blending elements of Monday, Tuesday,
Wednesday, and is it showing a willingness to create highs in London? or New

195
00:34:43,110 --> 00:34:53,130
York but preferably in London? And are we seeing expansion on on the daily
ranges as taking out previous day's lows? And is it doing it convincingly? If

196
00:34:53,130 --> 00:35:01,470
it's doing that, then you can start doing time elements like I'm showing you
here on Wednesdays and Thursday, but just know Know that Thursday could create

197
00:35:01,470 --> 00:35:11,670
the low of the week. And there it is. Now, what's the benefit of this? Because
sometimes my weekly objectives may not get hit and Thursday creates the low and

198
00:35:11,670 --> 00:35:20,370
Friday could have not went a little bit lower to trade to our 9047 and seven.
This could have been it and that would be fine because I outlined it in front of

199
00:35:20,370 --> 00:35:30,960
you on the community tab on my YouTube channel. But the details behind it is
what I'm showing you right here just for that Thursday, not the delivery of

200
00:35:30,960 --> 00:35:38,670
Friday's low the week. That's something entirely different. And unnecessarily,
I'll say here, here it is, you're holding back now it's you're not entitled to

201
00:35:38,670 --> 00:35:51,420
it here. But my students seen this. And you all seen me outline the low on
Thursday, I'm giving you the dynamics behind it. And teaching what would

202
00:35:51,420 --> 00:36:02,670
otherwise be something that only a mentorship level student would look at. And
seeing and teaching by me. There is this repeating signature. That happens a

203
00:36:02,670 --> 00:36:12,570
lot. Everything I'm showing you here, if you reverse it, when you're bullish,
everything would be just the opposite here, you'll be looking for projected

204
00:36:12,570 --> 00:36:24,480
highs, you'll be looking for time and price to meet. And everything should be
showing lows of the day forming on one than on Monday, Tuesday, Wednesday, and

205
00:36:24,480 --> 00:36:36,450
previous day's highs are being taken out. So it's showing you by sheer force of
breaking through previous day's highs. And the time element is in agreement.

206
00:36:36,840 --> 00:36:43,920
London is creating these lows of the day when it's bullish, just like it was
creating the highs of the days that were showing for the last week.

207
00:36:45,210 --> 00:36:57,960
So when you blend those things together, I don't trade dollar. But this gives us
insight on how to trade euro, and cable. So if we compare, I'll just add your

208
00:36:57,960 --> 00:36:59,850
real quick just for the sake of completeness.

209
00:37:05,430 --> 00:37:15,780
So here is euro just doing a mirror opposite. It creates the high of the day
here when the dollar makes its projected low of the day. So if you're trading

210
00:37:16,260 --> 00:37:27,540
and using the things I teach this, in your demo account for dollar analysis,
this would be your buys in euro dollar, and everything's a complete mirror

211
00:37:27,540 --> 00:37:37,260
image. So we start our analysis with $1 because it's like a barometer. It tells
us should we be bearish? Should we be bullish? If the dollar index is

212
00:37:37,260 --> 00:37:48,270
consolidating, then that means you have to look at crosses. That means currency
pairs like euro pound. And then if that's bullish, that'll give you greater

213
00:37:48,270 --> 00:37:59,880
insights about which pair you should be trading euro dollar or pound dollar,
while the dollar index itself will stay in consolidation crosses will be allowed

214
00:37:59,880 --> 00:38:10,650
to move in that's usually when a trend. But when the dollar index is trending,
or it's in swing, Euro pound tensity and consolidation. So hopefully you found

215
00:38:10,650 --> 00:38:20,730
something in this video that was insightful I know it's a little bit of a
thinking cap required to go into your own tracks and study it. But this is what

216
00:38:20,730 --> 00:38:29,070
it's like to be under my wing. You get certain things given to you. And then
you're encouraged to go out into your charts and study it. You're going to be

217
00:38:29,070 --> 00:38:37,980
met with weeks where Monday and Tuesday and Wednesday when you think it's
bearish isn't going to give you cell days. And I want you to study when that

218
00:38:37,980 --> 00:38:49,140
occurs. And study in reference to the weekly chart and the daily chart did we
just trade down to an old low and run through that old low and now it's starting

219
00:38:49,140 --> 00:38:58,680
to retrace because if it's doing that and you anticipate it being a bearish
week, that's likely not to form a monday tuesday or wednesday sell off because

220
00:38:58,680 --> 00:39:10,440
it's probably retracing deeper to create a more deeper retracement so that way
it can go overbought if you will, on a near term. And then the following week,

221
00:39:10,800 --> 00:39:19,050
you can anticipate a Monday, Tuesday and Wednesday scenario where it creates
selling days that are just perfect. So it's not a matter of everything is going

222
00:39:19,050 --> 00:39:27,720
to be exactly like this every single time you have to blend in some things. I
just gave you a huge hint. Just 30 seconds ago, if that just went over your head

223
00:39:27,720 --> 00:39:35,820
and you didn't write that down in your journal to start looking for that. You've
missed it because that is gold. So until I'll talk to you next time, please be

224
00:39:35,820 --> 00:39:37,530
safe and good luck and good trading.