ICT YT - 2022-02-11 - ICT Mentorship 2022 Episode 8.srt

Last modified by Drunk Monkey on 2022-02-13 16:17
1 00:00:05,730 --> 00:00:18,060 ICT: Alright folks, welcome back. This is episode number eight applying institutional order flow to forex markets. Alright folks, welcome back. Taking a
2 00:00:18,060 --> 00:00:26,850 look at trading view and I promise this is going to be a really short one tonight to euro
3 00:00:34,950 --> 00:00:45,930 and whenever I'm looking at data from trading view this is the data feed I use for forex pairs only for us comment on these Oh, no, definitely not them.
4 00:00:50,070 --> 00:01:05,760 Alright, so we have the daily chart up for Euro Yen, to say no yen pairs, I can't stand them. But for the sake of completeness, this is how you would look
5 00:01:05,760 --> 00:01:16,260 for these types of patterns in forex. Now I have lots of feedback in the comment section that you don't get to see. But it's really just for me, I get a lot of
6 00:01:16,260 --> 00:01:24,870 requests, whether or not this is appropriate to be using for higher timeframe charts, and I think daily charts or whatever, but I would classify as a higher
7 00:01:24,900 --> 00:01:43,260 higher timeframe chart. So I want you to take a look at Shopify. Do any mock up on it? Pause the video if you're not ready. Still don't pause it. Alright, take
8 00:01:43,260 --> 00:01:59,580 a look at the relative equalizer. You see that? It's gonna go quick and dirty tonight. Dirty. Alright, so we have relatively close, marked out over here. The
9 00:01:59,580 --> 00:02:11,790 Mark has traded down through and created a run higher. Now here is why I do not like the yen pairs. Okay, I get questions all the time. Why don't you like in
10 00:02:11,790 --> 00:02:21,750 pairs icetv move around nice. They do this, I do that. They tend to have like a double return to a specific level I like to see and you're going to see it right
11 00:02:21,750 --> 00:02:36,330 here. Okay. swing high market rallies through that. There's no fear of a gap there. It drops back down in, then it runs again, taking out this swing high. So
12 00:02:36,330 --> 00:02:49,230 we have two points of market structure that have moved to the upside, North prices traded above it. Now this leg here. You want to go back through that and
13 00:02:49,230 --> 00:03:07,710 see is there a fair value gap? Well, we have one and two market trades down into it here sends it higher. What's above here is that liquidity. This old high back
14 00:03:07,710 --> 00:03:16,770 here could be a drop in liquidity as well. So it's when we buy stocks, whether it trades there or not. It's irrelevant. Okay. It's likely to draw to it. Just
15 00:03:16,770 --> 00:03:26,760 like you know, playing horseshoes. Your play the game horseshoes. Not every single time you throw a horseshoe isn't going to go on that post. But it's still
16 00:03:26,760 --> 00:03:34,470 fun to play, right. So you're aiming at that post, whether you hit that post or not. And this would be the like the post in the game, playing horseshoes. You're
17 00:03:34,770 --> 00:03:46,890 aiming for it. Obviously, we started trading a new day here. But this candle, which was the 10th of February 2018, to this daily candle, we could trust that
18 00:03:46,890 --> 00:03:56,610 this was likely to go higher, because we went up we've consolidated and then start another run into this hot here. Again, whether it trades through it or
19 00:03:56,610 --> 00:04:04,080 not, it's irrelevant, okay, because even a failure swing to get above old highs. If there's enough range from being right here at the open to reaching up to
20 00:04:04,080 --> 00:04:13,290 here. That's enough to take a stab at it and to see if you're going to get any kind of yield. So that's an example of it occurring on a daily chart, but I want
21 00:04:13,290 --> 00:04:25,140 to go into this very date right there. Okay, the 10th. So we're gonna drop down into a 15 minute timeframe. Alright, here's 15 minute timeframe, and we're going
22 00:04:25,140 --> 00:04:26,220 to mark up our chart
23 00:04:32,639 --> 00:04:51,719 New York Time pocket rallies in here and then we go into the New York session right here. So we're gonna go into this price structure and ferret out the run
24 00:04:51,719 --> 00:05:00,359 that occurred in here. So put a rectangle in this area so that way we know what we're looking at relative to this 15 minute time Free
25 00:05:07,500 --> 00:05:15,600 you guys asked why I do PowerPoint slides. This is the reason why makes it a lot easier to go right to what I'm looking for. Alright, run drop down to a five
26 00:05:15,600 --> 00:05:22,440 minute chart Okay, and if you take a look at
27 00:05:34,560 --> 00:05:48,930 seven o'clock in the morning 10 o'clock in the morning, that your New York, ICT kills him, hey, that's the time of day that New York session trades form I have
28 00:05:48,930 --> 00:05:59,070 more information in that regard for time of day. For Forex. In this channel, I see lots of videos lots of topics and things you can explore I don't want to
29 00:05:59,100 --> 00:06:05,070 beat to death because I've I've done other places but just know that seven o'clock in the morning 10 o'clock in the morning, New York time again, on
30 00:06:05,070 --> 00:06:16,860 trading view, you need to have a toggle to that, everything else it'd be wrong. Alright, so here is the time of day that the forming of a New York setup forms.
31 00:06:20,040 --> 00:06:32,730 Alright, so we have the market trading down, takes out a swing low trades down below that and then punches higher right above this swing high. Inside this
32 00:06:32,730 --> 00:06:43,200 price like right here, is there a fair Vega we're going to start breaking it down top down from five minute film, we're going to break it down from the five
33 00:06:43,200 --> 00:07:01,020 minute down to the one minute chart. So from this low up to this high grade in there, that's we're gonna study on each new timeframes. We'll go down to three
34 00:07:01,020 --> 00:07:01,350 minutes
35 00:07:06,750 --> 00:07:19,950 Okay, so in this price, like here, do we take out a swing low? Yes, we trade down below swing low. Does it take out a swing high here? Yes, it does. So now
36 00:07:19,950 --> 00:07:33,570 we have a valid condition to see if there's a trade go back through this price like is there a fair value got written here in this one here. So remember I was
37 00:07:33,570 --> 00:07:43,830 teaching you it could stab down it just be mindful that but try to get your entry in on that one there. And that's what we have here at trade center there.
38 00:07:44,610 --> 00:07:53,970 Now the question is going to be is how far will it trade to because we're not looking at anything over here like as a middle of the range type idea. So for
39 00:07:53,970 --> 00:08:03,420 expansion type moves, practical lessons tonight where if we don't have a range to trade inside of how do we anticipate how far can trade up or trade down in
40 00:08:03,420 --> 00:08:11,160 this case we're looking for a long where would our targets be because the old highs over here now I'm sure if we went to a hard time frame keep looking to the
41 00:08:11,160 --> 00:08:25,350 left we'll find something but a real easy way is to take your price like over here see this swing low break prior to this run up? Then we consolidated drop
42 00:08:25,350 --> 00:08:38,610 down create a discount and then created our retracement rally and start to run up into these highs How can we know well I like to take a fib
43 00:08:45,180 --> 00:09:00,570 anchor it like an anchor it to a previous swing. Okay, so from this low that is high after we leave this consolidation and start to trade higher standard
44 00:09:00,570 --> 00:09:10,650 deviation negative one and I get a lot of questions. You know, what's my setup for my fib? I actually show that on a ote primer video so you're welcome to take
45 00:09:10,650 --> 00:09:19,860 a look at that and the YouTube channel as well 130 3.153 and
46 00:09:25,710 --> 00:09:45,390 C high is 133 15 and three so right to the to the point that you'd be looking for and then I've seen it received from that okay, so obviously when I show
47 00:09:45,390 --> 00:09:55,470 example like this makes you want to trick me in but I hate this pair I can't stand there's other markets that can scratch my itch for forex, but this one is
48 00:09:55,470 --> 00:10:06,180 not one I like to trade. But I wanted to come out tonight and come and give you A quick view of what you could do with these markets using the model. Okay,
49 00:10:06,540 --> 00:10:16,680 there is a approach that you can use with the London session, okay in London would be marking up your vertical lines relative to New York local time, two
50 00:10:16,680 --> 00:10:25,140 o'clock in the morning to 5am. So you'd have your, your bracket, so your operating hours would be hunting the setup for New York between seven o'clock in
51 00:10:25,140 --> 00:10:36,810 the morning and 10 o'clock, local New York time. For london session trades, you would look for setups that would provide you a way to trade a fair value gap
52 00:10:36,840 --> 00:10:45,000 between two o'clock in the morning and five o'clock in the morning. Okay, and that's as easy as I can make it for you. It's simple, and any additional
53 00:10:45,000 --> 00:10:54,660 information you want to have. I have absolutely covered it in other videos in this Youtube show. Okay, so it's predominantly a Forex channel. And it's only
54 00:10:54,660 --> 00:11:05,130 been recently with the 2022 mentorship, I'm talking and teaching about the stock indices. So I get a lot of requests for forex. So here you go. It's simply
55 00:11:05,130 --> 00:11:17,520 applying what you've been trained with the futures indices, but disciplined to the forex market, but applying it to the time of day relative to New York, or
56 00:11:17,520 --> 00:11:27,900 London. And yes, you can take trades in Asia, yes, you can take trades in London close. But I prefer to have you just trade on these two timeframes here. Or time
57 00:11:27,900 --> 00:11:34,410 of day, rather, being New York open, which is what's being shown here, seven o'clock in the morning at 10 o'clock or more New York local time. Again, always,
58 00:11:34,440 --> 00:11:43,380 I can't say it enough, because if you don't do this, and you just have it set to your local time, it won't work. But it's New York local time on trading view,
59 00:11:43,710 --> 00:11:54,780 seven o'clock to 10 o'clock. This is the time when you're hunting a setup. Okay. So, in summary, we can anticipate this market going higher, why? Because the
60 00:11:54,780 --> 00:12:03,030 Euro dollar is going higher. You can also check it by going to let's go to daily chart first
61 00:12:10,500 --> 00:12:24,330 and go to six e which is euro futures. And let us use the front month continuous. Okay, you can see how Euro where's it been going? So, that has been
62 00:12:24,360 --> 00:12:31,230 going lower or higher, clearly going higher, what has the yen been doing?
63 00:12:37,440 --> 00:12:48,420 So when you look at forex pairs, you want to look for that relationship between the instruments that make up your pair. So Euro Yen, Euro is strong, Yen is
64 00:12:48,420 --> 00:13:01,560 weak. So what would that mean for Euro Yen, it would mean that with your biases bullish and you had this underpinning between euro and yen, this is going to
65 00:13:01,560 --> 00:13:11,580 make this pair go higher. That's it's a real simple way of looking at how to determine these exotic crosses. Okay, and how to frame the logic behind whether
66 00:13:11,580 --> 00:13:19,080 it should go higher or lower. And then apply today. Wait for the pattern I'm teaching you and you won't need to do anything else. You don't need to buy a
67 00:13:19,080 --> 00:13:28,890 subscription anybody services. You don't need to learn anything else. You don't have to buy any courses. It's all right here for free. And it works. Until I
68 00:13:28,890 --> 00:13:31,710 talk to you next week. Enjoy your weekend and be safe