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Version 1.1 by Drunk Monkey on 2020-12-07 10:14
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3 ICT: Hi folks, welcome back to ICT with a very brief discussion on how to find
4 intraday trending days. Now what is an intraday trending day when you're looking
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8 for an obvious buy condition for day trades or scalps or sell short days, where
9 it's just most likely to work in conjunction with the higher timeframe bias. Now
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13 you can see since the month of March of 2020, the dollar has had a real
14 difficult time trying to go higher said the obvious momentum is been on the
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18 downside. Now, I'm going to ask you to grant me a little Liberty here cuz I know
19 a lot of people like to give me flak about home point in hindsight, when I've
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23 given examples on here, we can see me trading before the stuff actually unfolds.
24 So just give me a little bit of flexibility here. And I'm going to teach you
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28 something that we can go into the charts and start looking for it. Okay. So when
29 you have a market that is predisposed to go down, in this example, here, we're
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33 working with the dollar, everything that I described here would be the opposite
34 for like euro, or cable, which is British Pound versus US dollar. And we're
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38 going to look at a few things. And I'm not going to do a whole lot of it in the
39 chart. It's basically you listening and taking notes. Now I want to point at
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43 some things in the chart. But most of this is going to be just me giving you the
44 lecture points, okay, or the salient points that you should come away from this
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48 teaching. When the markets predisposed to go lower, we are going to work within
49 the framework of Monday, Tuesday, Wednesday, are going to be your best ideal
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53 entry days. Now, if we were looking at Dollar Index, as we have here, and it's
54 been bearish, each week, we go in looking for the continuation of this
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58 underlying premise premise being that the dollar is weak, it's going to go
59 lower. So therefore, if the algorithm is going to reprice at a lower price for
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63 the dollar, you're going to be best suited looking for short sells, or going
64 short one, Monday, Tuesday or Wednesday. Now, it does not mean and it's not
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68 limited to just those three days, it can still have a sell off day on Thursday
69 and Friday, every single day of the week could be down days. The topic of this
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73 lecture is how to find trending days where everything is perfect. It's just an
74 ideal scenario. If you're familiar with my lesson on Power of Three, okay, power
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78 three is the open high low close phenomenon when the market is bearish, where we
79 can go short at the opening price of the daily range or above it, and then ride
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83 the daily range down to what would be classically referred to as the closing
84 price. Well, since the foreign exchange and forex market doesn't technically
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88 really close until Friday, what am I referring to, I'll give you a little bit of
89 talking points about that too. So you can go into your charts and dress them up.
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93 And you'll see right away what I'm talking about. So we're looking at a market
94 that is predisposed to go lower, as I said, and that means on this example,
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98 we're gonna be looking for Monday, Tuesday, Wednesday, sell days. Now, if we
99 look at what has just transpired last week, we had a run below this low here.
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103 Okay. Using this mindset, going into the week, with the expectation that Monday,
104 Tuesday and or Wednesday, could be really classic down days. Now, what is a
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108 classic down day? Let's go into the hourly chart, and I'll give you some
109 information about what classifies a classic down day, and what characteristics
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113 are available when we're looking for it. Okay, so we are in the hourly chart for
114 dollar index and the daily separators. And this line here is that old low
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118 reference on the daily chart before I drop down into the hourly chart. So the
119 idea is we're looking at a bearish market environment and whether you want to
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123 call it momentum or do you want to call it trend, whatever it is that you are
124 classifying the dollar is for your model, is it going to be bullish or bearish?
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128 We're going to assume that whatever that was that you arrive that lower lows,
129 lower highs, all that business This, you might use moving averages, if you're an
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133 indicator type of person, I don't really use indicators like that. But if it
134 helps and works for you, then by all means, I guess continue to use it. But if
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138 you look at how Monday's trading started, okay, we opened up here, traded
139 higher, made a high, which happens to be the high of the week. So as I indicated
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143 at the beginning of the video, and I teach this in other lessons,
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147 how to find explosive price action moves is one of my classic teachings, where I
148 teach the weekly Power of Three, which is the funnel like where we open, create
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152 the high of the week, and break down on Tuesday, we trade again higher, and then
153 work towards the low end of the range later in the day. And then Wednesday, we
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157 get another rally initially during the London session, and the market trades
158 lower. And then on Thursday, we get same phenomenon we open rally up, create the
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162 high the day and trades low, making the low day and and consolidates into that.
163 And then finally, Friday makes the low of the week. And it goes into
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167 consolidation as the trading week closes. Now that is obvious. And for most of
168 you that are very cynical, you'll see that and say, Well, you know, that's
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172 that's obvious what one wants us to take away from this, that I don't already
173 know. If you're bearish on a higher timeframe, weekly and daily, both of those
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177 timeframes agree, or your analysis lends well to it continually moving lower,
178 then you're focusing on Monday, Tuesday and Wednesday to see these types of
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182 phenomenon where it creates a high and then the market repels away from that,
183 does it stay at the highs long? No. It leaves it quickly here tries to run back
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187 up rebalances in here and then breaks down aggressively. Wednesday again, same
188 scenario, we run up and then break down hard. Thursday, I want you to look at
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192 this pattern right there. Okay, see that? This is not I didn't send this chart
193 on to my community tab. But I showed you a five minute chart of this particular
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197 day. So in your notes, I want you to write down that when you are bearish on
198 higher timeframe charts weekly and daily if both of those agree. And there's
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202 many lessons in my youtube channel that will help you derive what that direction
203 should be, or how to find that direction, using the way I do it. And if they
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207 agree and they're saying both of them are bearish. Every single trading week,
208 you go into your analysis with the expectation of a sell scenario forming on a
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212 Monday, a Tuesday and on Wednesday. Now, it can continue into Thursday. But if
213 it's bearish, there's a high probability that the weekly range will create the
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217 opposite end numbers if we're expecting bearishness and a big down week,
218 Thursday tends to make the low of the week about 65 to 70% of the time during
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222 the New York open, okay, or the New York session. There are times when it will
223 continue on into Friday. In this case, it went down just a little bit more meta
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227 target that I gave to my community and then repelled that's not the scope of
228 this lesson. Now before you get upset and you think all you're holding things
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232 back, why'd you even bother coming here? I want you to think about the
233 likelihood of this being where you targeted for the dollar and say you were able
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237 to capture a move from here, or here or here. Would you be upset if you got out
238 there when it only went down this far the following day? Now I asked another
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242 question. With a similar vein. What happens if you took your profits with the
243 analysis saying here is the time when you thought that the weekly range would
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247 end? It wouldn't go any lower. And but then it went down another 80 pips, would
248 you be upset? If you said yes, you need to reevaluate why you would be upset
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252 about that. Because if you were able to get out there or in close proximity to
253 that low from this entry point here, here or here. That's an enormous amount of
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257 range, like that's the lions portion of the weekly range and no one if they're
258 able to capture that should be upset. Because if you feel that it's something to
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262 get upset about, if you hold only to here, and it drops in additional 80 pips,
263 you're wrestling with something that is not realistic, because you're not going
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267 to get every piece of every move. That's not going to happen. I don't teach that
268 I don't promise that a new mentor or teacher should and if they do, that's a
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272 clear indication you need to run away from them because they're promising you
273 the moon And they can't deliver it. What can we do with this information though,
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277 let's assume for a moment that you believe what I'm suggesting you go into your
278 charts and look for it. Now, right away, some of you are going to say, okay,
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282 Michael said, Every bearish week is going to have a sell on Monday, Tuesday and
283 Wednesday. And then Thursday, could happen to have another down day. And you're
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287 gonna look for every instance that it does not fit that criteria.
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291 And the things that you're going to be not paying attention to, is there are
292 times when this market should be expanding, creating these big weekly ranges,
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296 there isn't always going to be this big, big weekly range expansion on the
297 downside, or, conversely, big range expansions. On the upside. There are things
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301 that you have to learn from a market structure standpoint, and I give a lot of
302 these types of lessons in this YouTube channel for free. But when we break a
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306 low, like this line up here indicated on the daily chart when we broke through
307 that, you always anticipate some measure of expansion. Now you're classically
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311 taught to look for a break, and retest and then go short. Well, you can see they
312 went below here and pumped it up above it. That is a little unsettling for
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316 people that like to use support resistance, because why didn't it Stop right
317 there. The market trades one more time below it and goes right back above again.
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321 But notice it doesn't stop right, that old low. Again, this level here, go back,
322 rewind the video, you'll see this low. If you look at your own charts on trading
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326 view for dollar, you'll see that this level here 9174, and six pets is the level
327 that's that old well on a daily chart. So it goes below and then sweeps back
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331 above it. It's not just going above it because it's random. It's going above it
332 to rebalance this little area right in here. Can you see that? So after it
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336 rebalances there, it breaks down aggressively. But now, this red line is not the
337 lows that we watching this low is the Monday low. So what we're doing is is
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341 we're watching does it have the ability to break the previous day's low? Does it
342 break it in a subtle manner? No. It expands aggressively through it. So it's
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346 destroying this low here and confirming the run below here. So it's done it on
347 Monday creating a high on Tuesday, it shows aggressive movement lower. Now on
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351 Wednesday when new traders or neophytes watch real time intraday price action
352 during London, they see these big pops up. And they think okay, well we'll look
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356 at these lows here. And I'll put momentum indicators like CCI stochastic RSI,
357 you know, I'm talking about overbought, oversold indicators. And they'll be
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361 flagging, bullish divergence. And they'll be thinking, Okay, it's kind of the
362 low. And they may think that maybe it could trade back up to that level here,
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366 because that's an old, higher timeframe low. So that could be a resistance
367 level. And when they start to chase price like that, it will be very frustrating
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371 for them. When it starts to break down again, when it starts to break down. What
372 low would they be attacking? The low that was formed in early trading on the
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376 second does it trade through that subtly? No, it aggressively punches through it
377 with energy, then comes back up rebalances and then sells off again, going into
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381 the close. Now on Thursday, the same type of phenomenon we're expecting. We're
382 waiting for it to open, create a high the day during in one session, and then
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386 trading aggressively lower but then forming a low during the New York session.
387 That low that forms on the New York session tends to be with a great deal of
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391 statistical evidence behind it and I'll leave that to you. There are strong
392 statistics to support Thursday being the low of the week in the New York session
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396 when we're having a large expansion, weekly range, okay. If you looked at my
397 community tab that day, okay, I said take it paid pay the trader that's the
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401 moniker I use all the time when I say prompting my students okay in your notes,
402 you should be saying this is where the lion's portion of the move is then put in
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406 there so therefore, I would be classically moving to the sidelines and taking
407 profit. I did that right before all of this run here. So it was done real time
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411 on my community tab. My target for the week was 9047 and seven pets and the low
412 of the week come in one pet below. You can see that low here at 9047 and six
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416 pets so one pet that lower than I was expecting, and then I created the low of
417 the week. Now Friday, like Mondays. If you can grow in allowing yourself to say
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421 I can take trades on Monday, I can take trades on Friday. I'm not completely
422 opposed to it. But there are better trading opportunities on Tuesday, Wednesday
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426 and sometimes on Thursday. Thursday's tend to be really good reversal days. And
427 Tuesday and Wednesday tends to be really good trend entry days. Now, think about
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431 what I just gave you. When a markets bearish,
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435 you want to be looking for ideal scenarios to sell short Monday, Tuesday and
436 Wednesday. I'm willing to give out Monday's trading because what Monday's
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440 trading does, it gives me a little bit more insight as to what the weekly range
441 may do. Because I have weekly profiles that I classify certain scenarios the
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445 algorithm will likely unfold throughout the week. And what do I mean by that?
446 They're like little schematics that give us the rough idea on how the daily
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450 ranges will print. Now, that probably sounds crazy, but they're just general
451 rules of thumb. They don't always exactly pan out. They are good rules of thumb.
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455 They help guide me and my students, but it takes a lot of experience to learn
456 them. And sometimes I get it wrong. And that's nothing wrong with that. But if
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460 we're overwhelmingly bearish as we've have been for dollar, it is a huge
461 advantage, especially if you're a new trader to anticipate Mondays, Tuesdays and
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465 Wednesdays to be amazing selling days or going short. During the London session,
466 again, that's where I teach it even in this YouTube channel for free. That's
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470 when the intra week. Now what does that mean intra week, this is an intra week
471 high. This is an intra week high. And this is an intra week high during the
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475 Monday and Fridays trading range, whatever that range is that forms the weekly
476 range. Every short term high here in the London session, our respective intra
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480 week highs, I'm looking for the market to move away from these intra week highs
481 or individual intraday highs and attack previous day's lows. If I see that what
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485 I'm getting in line with is the institutional order flow. So now I have a pre
486 conceived idea of bearishness on the weekly and the daily for dollar. If we drop
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490 into these lower timeframe charts, we start looking for these things to occur to
491 support our narrative, the narrative is that the dollar should go lower up to
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495 New York on Thursday. So that will be right in here. So here's nine o'clock in
496 the morning on Thursday. And I asked you look at this range in here. So is it
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500 hard to see this pattern in hindsight? Well, that will depend on how much time
501 you want to put into studying it. I'm giving you these details to go into your
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505 chart and start looking at it. Studying every individual weekly range, an
506 individual daily ranges the Monday, the Tuesday and the Wednesday, and how it
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510 trades into Thursday on New York open. That is such a huge advantage. And if I
511 would have known these things, when I first started in 1992, I would have done
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515 very, very well and not probably had as much pain in my development. Then I had
516 to endure. But I'm going to go into this little area here. And we'll drop down
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520 into that five minute chart. We'll wrap this video up. Okay, so we're zoomed in
521 on a five minute chart of the dollar index on the third of December. This is
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525 last week's trading. And this is what I call a classic trending day or a classic
526 bearish ICT power three day where we open make the high today first expansion
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530 makes the low of the day and then consolidates into the close. When you're
531 looking at forex, okay. And I know a lot of my audience are spread out across
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535 the globe, like everybody else on YouTube, everyone is not in the same
536 geographic location. The way we compensate for that is on the time window thing.
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540 Now here, you want to set that to New York. Okay, so New York timeframe, you
541 click that everything I'm showing you here, will line up perfectly, you just
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545 have to figure out what that means at your local time. Okay, so to save myself a
546 lot of confusion and a lot of work, please don't email me and ask me what the
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550 conversion is. If you set your trading view charts to New York time, everything
551 that I teach on this YouTube channel will make sense. But if you try to set it
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555 to your local time, it's going to be very confusing. You're going to see that
556 this stuff isn't lining up like you would imagine it doing because it's not set
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560 to your local time. Okay, it's not set to time in France, okay. It's not
561 following that clock. It's not following the clock in Hawaii. Okay. You set it
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565 to New York time. everything is relative to New York time, you can be mad about
566 that you can be upset about it. Or you can just say, Alright, Michael saying
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570 that. So I'm going to just do that. And that's all I'm asking you to do. Just do
571 it and everything else will fall in line. this vertical line here indicates
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575 midnight, New York time. If you add another vertical line at noon, right there,
576 okay?
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580 You have the two dividing time windows that I use to teach my students. All the
581 stuff that happens after this. Not important to me. Everything prior to this,
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585 not important to me. For the daily range, you're going to look at these two
586 specific times. It's a 12 hour window opening. If we're bearish, we don't care
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588 119
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590 about the rundown. We want to see it run up above the opening price. This is my
591 classic power three idea. The high forms at 4:40am. On Thursday, the market
592
593 120
594 00:21:07,859 ~-~-> 00:21:19,049
595 breaks down, comes back up rebalances in here, trades into a bearish order
596 block. Right here, right there. Why not this one here? Michael, look at that. I
597
598 121
599 00:21:19,049 ~-~-> 00:21:30,449
600 mean, wideness. I know some of you are saying Why do you pick that one. And this
601 one tells you almost like I'm clairvoyant. This candle has a larger body, even
602
603 122
604 00:21:30,449 ~-~-> 00:21:40,349
605 though this one's higher. This is something else. But I'm using the order block
606 here. This is your order block, not this one, because we don't teach supply and
607
608 123
609 00:21:40,349 ~-~-> 00:21:48,569
610 demand. And there's other things in this chart. And now it's not just the fair
611 value gap either. So you guys have been introduced to that. This is your bearish
612
613 124
614 00:21:48,569 ~-~-> 00:22:00,719
615 order block, trades up into that bumps the body of that here, and then breaks
616 down. We trade back up a little bit subtlety and then break down again. Market
617
618 125
619 00:22:00,719 ~-~-> 00:22:20,339
620 trades back up again here. What is this? See that? What is this? That's the
621 optimal trade entry. What is this optimal trade entry? Here? And then you have
622
623 126
624 00:22:20,339 ~-~-> 00:22:35,309
625 it here. Okay. If we have an optimal trade entry, and it starts to sell off,
626 what are we expecting it to attack that low? If it breaks this low, how far can
627
628 127
629 00:22:35,309 ~-~-> 00:22:52,979
630 it go? Well, you have two factors here, you have the element of time, and price.
631 Not price and Time, time and price. So if we have in terms of time, alright, so
632
633 128
634 00:22:53,009 ~-~-> 00:23:08,069
635 we have it set to 10 o'clock to 11. Okay, that's your sweet spot. That is the
636 sweet spot of London close. With I mentioned earlier in this video that we can
637
638 129
639 00:23:08,069 ~-~-> 00:23:20,369
640 generally anticipate the low forming during the New York session on Thursday.
641 But what closes that window and has an overlap of an important turning point
642
643 130
644 00:23:20,399 ~-~-> 00:23:32,249
645 intraday, London close. So we're going to use the 10 o'clock in the morning till
646 11 o'clock in the morning profit taking period where intraday traders, they
647
648 131
649 00:23:32,249 ~-~-> 00:23:42,959
650 usually square their positions around that time. Now I can go as long as noon
651 day with which is here. But this is the general area where I like to take
652
653 132
654 00:23:43,259 ~-~-> 00:23:53,009
655 profits. And if you look at some of my old videos, this is something that I
656 taught pretty religiously. So we have the London session high optimal trade
657
658 133
659 00:23:53,009 ~-~-> 00:24:01,739
660 entry. Then we have the New York session, this candle here seven o'clock in the
661 morning right there. Okay, so it's setting up the optimal trading sheet that
662
663 134
664 00:24:01,739 ~-~-> 00:24:12,239
665 would sell off during New York session. And we want to see it attack this low.
666 If it does, what can we anticipate in terms of a target, if we're in a trending
667
668 135
669 00:24:12,239 ~-~-> 00:24:22,619
670 model in the market is clearly indicated wants to go lower, as shown it on the
671 weekly has shown on the daily. And we've seen Monday and Tuesday and Wednesday
672
673 136
674 00:24:22,619 ~-~-> 00:24:35,009
675 indicate that it is absolutely working to a large expansion on the downside for
676 the weekly range. So that means Thursday could start to see what a big range day
677
678 137
679 00:24:36,269 ~-~-> 00:24:46,649
680 everyone else is thinking it's oversold. It's oversold, it's oversold. So when
681 we attack this low, how far can it go? Well, let's take a look at that. I like
682
683 138
684 00:24:46,649 ~-~-> 00:24:50,009
685 to use a fib for targets.
686
687 139
688 00:24:50,640 ~-~-> 00:25:00,000
689 One of the things that I mentioned a few times in my discussions on this
690 channel, is my weakest point has always been my exits and not because I can
691
692 140
693 00:25:00,000 ~-~-> 00:25:08,580
694 Can't find profitable exit points. It's because I can't find contentment. Always
695 looking at after the fact and saying, I wish I would have did this, I wish I
696
697 141
698 00:25:08,580 ~-~-> 00:25:14,280
699 would have done that. So no one's ever right in this industry, okay, you're
700 never even if you're profitable, you're never right, gentlemen, if you're
701
702 142
703 00:25:14,280 ~-~-> 00:25:22,050
704 married, you know, your wife is definitely going to tell you that you aren't
705 right. Okay? Because you lost money. But you as the man, even when you are
706
707 143
708 00:25:22,050 ~-~-> 00:25:28,980
709 profitable, you aren't going to feel right either. Because it may go a little
710 bit further, you'll wish you had more on the trade. It's just you're never going
711
712 144
713 00:25:28,980 ~-~-> 00:25:43,380
714 to be content. So I, in my honesty, the flesh of me, okay, I wrestle with this
715 idea of perfection or my exits, where my entries can be scary accurate, my
716
717 145
718 00:25:43,380 ~-~-> 00:25:55,080
719 exits, I have to do it as a grouping. And so I've adopted this idea of taking
720 logical partials or taking a specific price level and just completely getting
721
722 146
723 00:25:55,080 ~-~-> 00:26:03,930
724 out of it. If I'm really conflicted about how far I think it's going to go, I
725 just pick a really good middle ground exit point. And I just take all that off
726
727 147
728 00:26:03,930 ~-~-> 00:26:12,870
729 there. And I just tell myself, it is what it is, if I miss out on another 100
730 pips, who cares? You know, usually I'm taking down 50 to 75 pips. And who cares
731
732 148
733 00:26:12,870 ~-~-> 00:26:22,770
734 what, you know, somebody else can say they made, I don't care. If he wrestled
735 with that all the time, you're just going to be miserable, and you won't enjoy
736
737 149
738 00:26:22,770 ~-~-> 00:26:30,180
739 this industry, you won't enjoy the career that you're trying to frame for
740 yourself, or hobby, you know, depends on how you want to look at it. But
741
742 150
743 00:26:30,180 ~-~-> 00:26:37,740
744 initially, you had to look at it like it's a college degree, that means
745 something at the end, because you're not going to do this with a couple weeks of
746
747 151
748 00:26:37,740 ~-~-> 00:26:44,880
749 study, or a couple months and know how to do it, because you need to figure out
750 a lot of things about yourself. But this framework I'm going to give you here
751
752 152
753 00:26:44,910 ~-~-> 00:26:55,020
754 will give you one of the ways I like to look for specific price levels, but
755 coupling it with time. So again, what's the first time so we're aiming for this
756
757 153
758 00:26:55,020 ~-~-> 00:27:01,830
759 particular time window, the day between 10 o'clock 11 o'clock in the morning.
760 Now, there's gonna be times when it will make the low today, just before 10
761
762 154
763 00:27:01,830 ~-~-> 00:27:11,370
764 o'clock in the morning. And you'll be like, Oh, it was early. And sometimes
765 it'll go into 1130, a quarter 12. And sometimes it might be 1215. These are
766
767 155
768 00:27:11,370 ~-~-> 00:27:19,620
769 general rules of thumb, there's always going to be some slight little variance
770 in here and there. But it's going to serve you better than anything else out
771
772 156
773 00:27:19,620 ~-~-> 00:27:29,160
774 there in the retail logic. So we're aiming and holding willing to hold until we
775 get into this time window. Okay, we enter that time window about right there in
776
777 157
778 00:27:29,160 ~-~-> 00:27:37,770
779 this candle. It starts it in that candle at 10 o'clock. So if that candle could
780 have been the low of the day, why do you know, Michael? because now you're just
781
782 158
783 00:27:37,770 ~-~-> 00:27:43,440
784 talking about it could have been this one? It could have been this one in this
785 one. It could have been that one? Or you know, what about that one? That could
786
787 159
788 00:27:43,440 ~-~-> 00:27:54,600
789 have been it right? Why this one, huh, now to get the element of price. Because
790 we have the time window down here, I moved up to the hourly chart. And this is
791
792 160
793 00:27:54,600 ~-~-> 00:28:07,260
794 our Wednesday price swing high. And then it starts to break down. Wednesday's
795 high. And the sell off prior to these lows being taken out, we can know a high
796
797 161
798 00:28:07,260 ~-~-> 00:28:20,640
799 degree of probability of a particular price level being traded to what you do
800 that is you want to take the high to the low here. Okay, that high to that low.
801
802 162
803 00:28:20,760 ~-~-> 00:28:31,170
804 Why? Because this is an impulse like, and this is a fulcrum point when the
805 breaks below that this range here, projected down is here. That's one standard
806
807 163
808 00:28:31,170 ~-~-> 00:28:44,220
809 deviation of this low to high. This imagine this being a hinge. And this swings
810 down to here. But markets aren't always perfectly symmetrical like that. So this
811
812 164
813 00:28:44,220 ~-~-> 00:28:53,940
814 is the reason why I taught you how to use hips. Okay, so every standard
815 deviation has a half. So this is one full standard deviation, and one and a
816
817 165
818 00:28:53,940 ~-~-> 00:29:10,140
819 half. What's the one and a half 90.5 to 190, point five to one, it's add that to
820 our chart. Okay, and we're going to drop back down into that five minute chart.
821
822 166
823 00:29:10,230 ~-~-> 00:29:19,050
824 Okay, so here's the optimal trade entry on that particular day for the London
825 then we have it here for New York. The market breaks this low, how far can I go
826
827 167
828 00:29:19,050 ~-~-> 00:29:30,090
829 down? We have this price level here. And the overlap of time. Look at the bodies
830 in here. Yes, you have little tails that went a little bit lower. But look at
831
832 168
833 00:29:30,090 ~-~-> 00:29:43,320
834 the body's respecting this level. That's not random. The market seeks these
835 levels and couples it with time. So this area in terms of time and this
836
837 169
838 00:29:43,320 ~-~-> 00:29:47,910
839 particular price level with the fib that's a target.
840
841 170
842 00:29:48,180 ~-~-> 00:30:01,500
843 This is the very reason why I said oh my community tab. See that low one Dixie
844 wave. That's that's the below the day on Thursday. Here's how that overlap
845
846 171
847 00:30:01,530 ~-~-> 00:30:13,590
848 worked out with time. And price. Time is the element that you hold for you
849 submit to that, because you don't know how long it's going to take. Outside of
850
851 172
852 00:30:13,590 ~-~-> 00:30:26,640
853 specific time windows, you have London close, you have New York, open, London
854 open. In Asia, New York, close is a little quirky. So I don't try to teach too
855
856 173
857 00:30:26,640 ~-~-> 00:30:32,940
858 much of that even in my mentorship, because you have to have a whole lot of
859 things understood before that is even useful to you. And usually, that's like
860
861 174
862 00:30:32,940 ~-~-> 00:30:42,690
863 the two o'clock, the four o'clock in the afternoon window, and usually two
864 o'clock, on the biggest extreme days, usually two o'clock hour usually completes
865
866 175
867 00:30:42,690 ~-~-> 00:30:56,910
868 the daily range. For this example, what I've outlined here is how the element of
869 price with time initially is a more important factor than just simply a price
870
871 176
872 00:30:56,910 ~-~-> 00:31:10,710
873 level. Back to the hourly chart, we can look at how this one standard deviation
874 here, and is a 9071, six, and the price level is 9071. Seven. So just to keep
875
876 177
877 00:31:10,710 ~-~-> 00:31:23,130
878 things honest, there we go. Now we're going to drop back down into that five
879 minute chart. Here's that first objective with one standard deviation using the
880
881 178
882 00:31:23,130 ~-~-> 00:31:36,060
883 previous day's range and projecting it down. Notice that at that price level,
884 okay? It did not trade at that level at the same time. That 10 o'clock to 11
885
886 179
887 00:31:36,060 ~-~-> 00:31:38,400
888 o'clock in the morning, I'll show you what that looks like here.
889
890 180
891 00:31:51,480 ~-~-> 00:32:03,420
892 Okay. So, at 10 o'clock in the morning, we were already below this target here.
893 So that's the reason why I teach time. And price, because the algorithm is
894
895 181
896 00:32:03,420 ~-~-> 00:32:17,700
897 looking at time. First and foremost, then price. So if this would have been
898 touched or traded to at 10 o'clock in the morning, which it traded to it here,
899
900 182
901 00:32:18,150 ~-~-> 00:32:32,700
902 initially. So at 750, is that an element of time that I've outlined here for
903 London close, but still during New York? No. It trades through it here. It's
904
905 183
906 00:32:32,700 ~-~-> 00:32:45,780
907 trading around it here. It's 935 940, New York time, and then it leaves it. So
908 it starts to move away. So if it takes out this low here, what should you be
909
910 184
911 00:32:45,810 ~-~-> 00:32:55,050
912 aiming for this price level and holding up to 10 o'clock in the morning till 11
913 o'clock, to see that target be met. And the algorithm delivers that price
914
915 185
916 00:32:55,050 ~-~-> 00:33:11,610
917 perfectly. Now you get a little bit of tails in here, but look at the bodies.
918 Look at the close on this price here. 90.519519. That's three pips away from a
919
920 186
921 00:33:11,610 ~-~-> 00:33:22,080
922 projected low the day that you could calculate back here. Think about that.
923 That's crazy. And you couple that with entry patterns, and you start to see how
924
925 187
926 00:33:22,170 ~-~-> 00:33:30,750
927 I can do the things that I teach and illustrate on this channel. It's not always
928 just hindsight, folks. But you have to learn things conceptually, through an
929
930 188
931 00:33:30,750 ~-~-> 00:33:39,540
932 element of hindsight. This is how you see things conceptually. And it gives you
933 just enough evidence to go into your charts, they collect Intel for your own,
934
935 189
936 00:33:39,990 ~-~-> 00:33:50,100
937 then you can start seeing these things, patterns and, and completions of time
938 and price. They're algorithmic, and they repeat a lot. But you have to have
939
940 190
941 00:33:50,100 ~-~-> 00:33:59,790
942 certain things in agreement to get them. Now I could have just simply said, This
943 isn't hindsight. And there it is, but I used it in front of all of you during
944
945 191
946 00:33:59,820 ~-~-> 00:34:10,680
947 this particular day. The very next day, it trades to our objective that our
948 community has been looking for for the dollar, which was 9047 and seven
949
950 192
951 00:34:10,680 ~-~-> 00:34:21,330
952 pipettes. And it went one pet below that. Not even a half a pip, not a quarter
953 of a pip one PIP that one 10th of a pip. That's the the error I had there. So it
954
955 193
956 00:34:21,330 ~-~-> 00:34:30,180
957 went one more one 10th of a pip beyond what I was calling for, and then made a
958 load a week. So if you're looking for big trending days, you want to be looking
959
960 194
961 00:34:30,180 ~-~-> 00:34:43,110
962 at higher timeframe charts, and then blending elements of Monday, Tuesday,
963 Wednesday, and is it showing a willingness to create highs in London? or New
964
965 195
966 00:34:43,110 ~-~-> 00:34:53,130
967 York but preferably in London? And are we seeing expansion on on the daily
968 ranges as taking out previous day's lows? And is it doing it convincingly? If
969
970 196
971 00:34:53,130 ~-~-> 00:35:01,470
972 it's doing that, then you can start doing time elements like I'm showing you
973 here on Wednesdays and Thursday, but just know Know that Thursday could create
974
975 197
976 00:35:01,470 ~-~-> 00:35:11,670
977 the low of the week. And there it is. Now, what's the benefit of this? Because
978 sometimes my weekly objectives may not get hit and Thursday creates the low and
979
980 198
981 00:35:11,670 ~-~-> 00:35:20,370
982 Friday could have not went a little bit lower to trade to our 9047 and seven.
983 This could have been it and that would be fine because I outlined it in front of
984
985 199
986 00:35:20,370 ~-~-> 00:35:30,960
987 you on the community tab on my YouTube channel. But the details behind it is
988 what I'm showing you right here just for that Thursday, not the delivery of
989
990 200
991 00:35:30,960 ~-~-> 00:35:38,670
992 Friday's low the week. That's something entirely different. And unnecessarily,
993 I'll say here, here it is, you're holding back now it's you're not entitled to
994
995 201
996 00:35:38,670 ~-~-> 00:35:51,420
997 it here. But my students seen this. And you all seen me outline the low on
998 Thursday, I'm giving you the dynamics behind it. And teaching what would
999
1000 202
1001 00:35:51,420 ~-~-> 00:36:02,670
1002 otherwise be something that only a mentorship level student would look at. And
1003 seeing and teaching by me. There is this repeating signature. That happens a
1004
1005 203
1006 00:36:02,670 ~-~-> 00:36:12,570
1007 lot. Everything I'm showing you here, if you reverse it, when you're bullish,
1008 everything would be just the opposite here, you'll be looking for projected
1009
1010 204
1011 00:36:12,570 ~-~-> 00:36:24,480
1012 highs, you'll be looking for time and price to meet. And everything should be
1013 showing lows of the day forming on one than on Monday, Tuesday, Wednesday, and
1014
1015 205
1016 00:36:24,480 ~-~-> 00:36:36,450
1017 previous day's highs are being taken out. So it's showing you by sheer force of
1018 breaking through previous day's highs. And the time element is in agreement.
1019
1020 206
1021 00:36:36,840 ~-~-> 00:36:43,920
1022 London is creating these lows of the day when it's bullish, just like it was
1023 creating the highs of the days that were showing for the last week.
1024
1025 207
1026 00:36:45,210 ~-~-> 00:36:57,960
1027 So when you blend those things together, I don't trade dollar. But this gives us
1028 insight on how to trade euro, and cable. So if we compare, I'll just add your
1029
1030 208
1031 00:36:57,960 ~-~-> 00:36:59,850
1032 real quick just for the sake of completeness.
1033
1034 209
1035 00:37:05,430 ~-~-> 00:37:15,780
1036 So here is euro just doing a mirror opposite. It creates the high of the day
1037 here when the dollar makes its projected low of the day. So if you're trading
1038
1039 210
1040 00:37:16,260 ~-~-> 00:37:27,540
1041 and using the things I teach this, in your demo account for dollar analysis,
1042 this would be your buys in euro dollar, and everything's a complete mirror
1043
1044 211
1045 00:37:27,540 ~-~-> 00:37:37,260
1046 image. So we start our analysis with $1 because it's like a barometer. It tells
1047 us should we be bearish? Should we be bullish? If the dollar index is
1048
1049 212
1050 00:37:37,260 ~-~-> 00:37:48,270
1051 consolidating, then that means you have to look at crosses. That means currency
1052 pairs like euro pound. And then if that's bullish, that'll give you greater
1053
1054 213
1055 00:37:48,270 ~-~-> 00:37:59,880
1056 insights about which pair you should be trading euro dollar or pound dollar,
1057 while the dollar index itself will stay in consolidation crosses will be allowed
1058
1059 214
1060 00:37:59,880 ~-~-> 00:38:10,650
1061 to move in that's usually when a trend. But when the dollar index is trending,
1062 or it's in swing, Euro pound tensity and consolidation. So hopefully you found
1063
1064 215
1065 00:38:10,650 ~-~-> 00:38:20,730
1066 something in this video that was insightful I know it's a little bit of a
1067 thinking cap required to go into your own tracks and study it. But this is what
1068
1069 216
1070 00:38:20,730 ~-~-> 00:38:29,070
1071 it's like to be under my wing. You get certain things given to you. And then
1072 you're encouraged to go out into your charts and study it. You're going to be
1073
1074 217
1075 00:38:29,070 ~-~-> 00:38:37,980
1076 met with weeks where Monday and Tuesday and Wednesday when you think it's
1077 bearish isn't going to give you cell days. And I want you to study when that
1078
1079 218
1080 00:38:37,980 ~-~-> 00:38:49,140
1081 occurs. And study in reference to the weekly chart and the daily chart did we
1082 just trade down to an old low and run through that old low and now it's starting
1083
1084 219
1085 00:38:49,140 ~-~-> 00:38:58,680
1086 to retrace because if it's doing that and you anticipate it being a bearish
1087 week, that's likely not to form a monday tuesday or wednesday sell off because
1088
1089 220
1090 00:38:58,680 ~-~-> 00:39:10,440
1091 it's probably retracing deeper to create a more deeper retracement so that way
1092 it can go overbought if you will, on a near term. And then the following week,
1093
1094 221
1095 00:39:10,800 ~-~-> 00:39:19,050
1096 you can anticipate a Monday, Tuesday and Wednesday scenario where it creates
1097 selling days that are just perfect. So it's not a matter of everything is going
1098
1099 222
1100 00:39:19,050 ~-~-> 00:39:27,720
1101 to be exactly like this every single time you have to blend in some things. I
1102 just gave you a huge hint. Just 30 seconds ago, if that just went over your head
1103
1104 223
1105 00:39:27,720 ~-~-> 00:39:35,820
1106 and you didn't write that down in your journal to start looking for that. You've
1107 missed it because that is gold. So until I'll talk to you next time, please be
1108
1109 224
1110 00:39:35,820 ~-~-> 00:39:37,530
1111 safe and good luck and good trading.