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ICT YT - 2022-05-17 - ICT Mentorship 2022 Episode 29.srt

Last modified by Drunk Monkey on 2022-05-17 10:40
1 00:00:06,480 --> 00:00:17,910 ICT: Alright, folks, welcome back. This is Episode 29, I'm gonna be doing a brief review of what took place today. I obviously executed today, I wasn't
2 00:00:18,360 --> 00:00:30,780 planning on doing two videos, but obviously by the comments, some people are a little bit confused. So I kind of want to bring your attention back to that
3 00:00:30,780 --> 00:00:42,870 12,553 and a quarter level, which is the route to equal highs here on NASDAQ. So that was kind of like the basis for why I went into the market today, Monday,
4 00:00:43,080 --> 00:00:55,770 the 16th of May 2022. The bullish bias, I was looking for this drop in liquidity still, for NASDAQ, I originally went in looking for a trade in NASDAQ, but
5 00:00:55,800 --> 00:01:09,390 alright, and the s&p much like the NASDAQ had daily swing low. And while we didn't have relative equal highs here for s&p, the bias was, in my opinion,
6 00:01:09,840 --> 00:01:19,500 warranted for at least the beginning of the week, looking for continuation on the upside. Before I get into it tomorrow, which is Tuesday, May 17 20. Oh,
7 00:01:19,500 --> 00:01:27,690 until 8:30am or in New York, local time, we have retail sales numbers, and then two o'clock in the afternoon, New York local time, we have the Fed Chairman
8 00:01:27,690 --> 00:01:35,460 speaking. So there's gonna be all kinds of volatility at two o'clock tomorrow. That's the reason why the market was kind of like lethargic today. But I wanted
9 00:01:35,460 --> 00:01:45,060 to kind of like showcase something. So today, I kind of like put a nail in the coffin, finally, about this whole business about oriented NT four servers, okay,
10 00:01:45,090 --> 00:01:52,380 I'm never gonna bring the conversation up again, or to topic again, I think everyone knows now by seeing what I've done here, just in a short span of time.
11 00:01:52,800 --> 00:02:01,500 If I did this for another five, six weeks, you could clearly see that it's not impossible for the same things I was doing on Twitter years and years ago. Okay,
12 00:02:01,500 --> 00:02:10,770 with Mt. Four, I'm not using MT four here, I can't game the system. I'm using live data, you're watching the Execute. It is what it is, folks. Okay, now it's
13 00:02:10,770 --> 00:02:19,740 paper trading, it's demo trading. But I do it just to prove that I can read this stuff. I'm not trying to beat my chest. I'm not trying to brag, but I just want
14 00:02:19,740 --> 00:02:26,910 to finally put this to bed because it's still, you see people talking about all the time when when they do that kind of talk, and you take them back to these
15 00:02:26,910 --> 00:02:37,890 videos here, you link these videos to them, and let them choke on it. Alright, so we have the one minute chart, I'm going right into the one minute chart,
16 00:02:37,890 --> 00:02:47,910 because we're starting with the bullish bias. And at 930, we see the market does, in fact, take out a short term high, it declines and are interested in
17 00:02:47,910 --> 00:03:00,270 going short. It does not give me a pattern anyway. Notice that there's no fair value, get revisited. The market creates this relative equal low, starts to
18 00:03:00,270 --> 00:03:17,850 rally trades up into the afternoon here. I want to see it create a buying opportunity. Now, the logic behind all this is we're in a day before Fed Chair
19 00:03:18,270 --> 00:03:29,460 speaks. So there's gonna be very low volatility as a result of that. So it's gonna be a small range day. Doesn't mean you can't trade it, obviously. But it
20 00:03:29,460 --> 00:03:36,720 takes a little bit more experience. Now, I'm not saying that you should trade ahead of a Fed Chair Powell speaking or any future Fed chairman, because it's
21 00:03:36,720 --> 00:03:47,040 going to be a very quiet day, usually like this, okay. And it's important to know when the volatility is likely to occur, and when also the volatility is
22 00:03:47,040 --> 00:03:59,130 likely to shrink up and get kind of like lethargic. If you look at the s&p at the top, see the drop down relative equal lows. And then we had the same similar
23 00:03:59,130 --> 00:04:11,550 pattern here, but look what NASDAQ was doing. See that lower low, when s&p was saying I don't want to go that low. So it was resisting going lower. Then we
24 00:04:11,550 --> 00:04:20,610 retraced higher, just like this NASDAQ did, but that NASDAQ made a lower low than that of 10 o'clock in the morning, while at the same time the s&p said no
25 00:04:20,610 --> 00:04:29,790 once again, I'm not going lower than the low I made at 10 o'clock. So we had a divergence here and here, no indicators folks. I'm using intermarket
26 00:04:29,790 --> 00:04:41,280 relationships and this is what I dubbed SMT, Smart Money technique or Smart Money tool. Now the importance of that is already had a bias is bullish. There
27 00:04:41,280 --> 00:04:52,440 was no short trades that were lined up with this model. Today, there was no interest in wanting to be short, I want to focus on being long.
28 00:04:55,110 --> 00:05:02,190 So we're in the one minute chart here. And I want you to take a look at what we have framework wise obviously probably already seen the short video compressed
29 00:05:02,190 --> 00:05:11,370 today. But looking at price action like this, yes, you can see there is a rally up, it breaks the short term low a fair value gap, it trades up into it in
30 00:05:11,370 --> 00:05:20,280 breaks down. Big deal, this doesn't fit the criteria, because the displacement leg here would require us to see a fear of a gap above 50% of the high and the
31 00:05:20,280 --> 00:05:32,100 low that displacement like and we don't have that. So nothing here fits the model for a short. But watch what happens. The market creates a run on sell
32 00:05:32,100 --> 00:05:44,730 stops here. Then rallies retraces back down into a fair value gap. I seen this happening, but I was trying to get the recording software that I use. And by the
33 00:05:44,730 --> 00:05:57,960 way, let me just throw this in here to see people asking my website address as a watermark. TradingView doesn't do that. Okay, I use my Camtasia Recording
34 00:05:57,990 --> 00:06:09,390 software to helps me do these videos. It's just an application, you can overlay like, like a text, call out they call it. And that's what it is. So it's really
35 00:06:09,390 --> 00:06:17,490 when I'm doing the recording talking. There is nothing here. It's a blank chart. And then at the end the recording when I'm editing it, I'll just add in my
36 00:06:17,520 --> 00:06:26,670 website address. And so anyway, with that said, we've seen the market trade back down in and I was trying to get the Camtasia Studio to open up and sometimes it
37 00:06:26,670 --> 00:06:35,430 doesn't open up and give me what I need. So I have to close it down entirely and restart it in the whole time this candle was doing its business. And I wanted to
38 00:06:35,430 --> 00:06:49,470 see it returned into this fear of a gap once more. And I got in on this candle here. And we'll look at the relationship between the NASDAQ, which was a little
39 00:06:49,470 --> 00:07:02,280 bit sloppier in here, versus the s&p a little bit more structured here. So the fair value gap and here, this candle on here it wicks down into it. And I want
40 00:07:02,280 --> 00:07:10,710 to get close to this fair value gap without it running too far away. So a kind of like want to touch a little bit tonight with close proximity entries. That
41 00:07:10,710 --> 00:07:23,760 means you might not get so precise with your entries, you might fumble with your order entry or something might happen. Like it happened with me i i wanted to
42 00:07:23,760 --> 00:07:31,680 record me entering not just simply say here, here's a trade I took. So I wanted to show obviously me getting in putting the stop mannequin in position and
43 00:07:31,710 --> 00:07:39,240 adding the second position here. What do you do in this situation, if you miss the ideal entry? Well, as long as you're getting in there really close or like
44 00:07:39,240 --> 00:07:50,790 I'm suggesting here at Close Proximity Entry. I don't think there's anything wrong with it. So if we are looking for entry patterns, the idea is we want to
45 00:07:50,790 --> 00:08:00,900 get into where our model is suggesting it. So we're seeing the market trade Lower, lower lower, it's failing to make a lower low like NASDAQ. And we have
46 00:08:01,710 --> 00:08:11,130 this load, it's probably not going to be taken out because we're bullish. The market rallies up we have a short term shift in market structure that trades
47 00:08:11,130 --> 00:08:26,040 back down into the fair value gap look, I mean opportunities to be able to go long 123456788 candles, it gave an opportunity to get in this area here, either
48 00:08:26,040 --> 00:08:38,040 inside the Faraday gap or in close proximity to it. Now when the market starts to rally, I have one more indication that the market structure has shifted again
49 00:08:38,250 --> 00:08:48,810 bullish with these highs taken out here. And then you had a small little fear of a gap there and then you watch me add more and then the order came in. Filled it
50 00:08:49,380 --> 00:09:01,650 only had one and a half or sorry, one in three quarters, handles, okay. Seven ticks if you want to think of it like that as seven ticks of heat against me on
51 00:09:01,650 --> 00:09:14,370 this little candle here before started running in my favor. I took the full pull off here and I did not get the highest Hi, I was a little disappointed in that
52 00:09:14,370 --> 00:09:24,270 regard. But the the candle obviously hit it there and we'll go over to trading view and look at the business. Alright, we're over here on trading view. This is
53 00:09:25,140 --> 00:09:35,400 live you can see timeless recording. This is where I'm sitting down at the computer and the market trades lower creates that short term run here rallies
54 00:09:35,970 --> 00:09:48,660 breaking market structure to the upside trades in the fair value gap and the secondary fair value gap and runs up into the liquidity above here. Now if I add
55 00:09:51,150 --> 00:09:55,410 the executions point you see
56 00:09:57,360 --> 00:10:09,960 a greater here and are you here and up hear where you'll see the exits and entries, respectively. So you can see there's that candle, that entry 3994 and a
57 00:10:09,960 --> 00:10:28,950 half 3996 and a quarter. And it went down to 94. What's the low here? Yeah, 94 and a half. So it was only less than two handles heat against me before it
58 00:10:28,950 --> 00:10:51,480 started rallying there. This 130 994 50 was written here and the low on this candle 93 and a quarter. So one and a quarter, no less than one. And what less
59 00:10:51,480 --> 00:11:02,670 than one handle of heat entering on this candle here in the next candle had a little bit of retracement. So very, very, very tight placement. And this was not
60 00:11:02,670 --> 00:11:12,330 entering in the fair value gap. It was in close proximity to it. So the underlying idea was it was going down in here to go higher, retrace into that to
61 00:11:12,330 --> 00:11:26,580 go higher. And you saw me map all this stuff here and call it up in you know, business is done. But the exit up here 4022 and a half. And that's that. You can
62 00:11:26,580 --> 00:11:44,700 see there is no short positions in here, no short positions over here. And that business and on NASDAQ we'll pull that up just for completeness sake too. And
63 00:11:54,030 --> 00:12:15,990 no executions here. So all the business was done in the s&p today. So my question to you is, when you see these videos, and I'm trying to illustrate
64 00:12:15,990 --> 00:12:27,630 obviously, that I don't need to fraud, anyone the things I'm teaching you, I think that you're seeing evidence that it works. Hopefully, you guys have seen
65 00:12:28,080 --> 00:12:45,540 enough with this here. Do the math folks. Okay, in less than a week and a half? How much more would you see this compound? If I did it for six more weeks, or
66 00:12:45,570 --> 00:12:57,450 five weeks, is hard to imagine the things that I did on Twitter with Mt for not a rented entity for server, literally pushing a button, putting the orders in
67 00:12:57,510 --> 00:13:06,570 doing the whole business. Okay. I know a lot of you have just discovered me. And you're seeing people post stuff about how other traders or other mentors or
68 00:13:06,570 --> 00:13:18,000 other teachers, they fake their positions. I'm open about paper trading, because it's compliance, I'm not legally allowed to give you trade advice. So I'm
69 00:13:18,000 --> 00:13:28,500 protected by my discussion in paper trading because you cannot make money with paper trades. And you can't lose money with paper trades. But I've always said
70 00:13:28,500 --> 00:13:39,060 this. From the beginning, I've dubbed myself the demo baller, I champion that name because I want to make sure everyone knows that I'm not promising you
71 00:13:39,060 --> 00:13:45,810 profitability. I don't dangle a carrot in front of you saying you're gonna do what I'm doing here because you're not gonna be able to replicate this. You're
72 00:13:45,810 --> 00:13:59,760 not okay. Don't be deceived. By seeing me do this. Again, for like the fifth time running up an account like this would breakneck speed velocity. And this is
73 00:13:59,760 --> 00:14:10,770 this casually doing it in a tight range. When there's large ranges. I could have easily taken it over to a million dollars already. But it doesn't prove
74 00:14:10,800 --> 00:14:20,220 anything. Except for the fact that I can read price action. That's all. That's all on suitcase. And I'm not trying to say I'm the best. I'm not trying to say
75 00:14:20,220 --> 00:14:29,370 that you can't make money and other things. I'm just saying. I know how to read these candlesticks. I know what they're likely to do most of the time before
76 00:14:29,370 --> 00:14:43,740 they do it. No time I take losing trades. But when it's really likely to work with the algorithm, I'll be dialed in. You can't fake what I'm doing. You can
77 00:14:43,740 --> 00:14:52,500 see me executing the trade. You can see me managing the trade and you can see the orders entering and filling. They pop up they verify the whole thing. No
78 00:14:52,500 --> 00:15:06,960 replay button up here. None of this stuff. Okay. So yeah, that's blue now. Like you can't create that Same scenario. So I'm hopefully satisfying this discussion
79 00:15:06,960 --> 00:15:13,710 that people like to bring up all the time about rented empty for servers, because like, they couldn't wait to put that on me, because they watched me do
80 00:15:13,860 --> 00:15:26,280 just like this. And I ran up to $5 million in a little less than one and a half months. Okay, so I understand, that doesn't seem possible. I understand that.
81 00:15:28,170 --> 00:15:38,100 People that would be able to do what I'm doing, could very easily go out there and defraud people. I'm telling you, it's demo. I'm not saying that did that
82 00:15:38,100 --> 00:15:47,430 with real money. I'm just saying that I can read price action, I can see these patterns forming. And even with these other folks out there with fake MT for
83 00:15:47,430 --> 00:15:57,120 servers, and T for screenshots of making money, and all this other fake withdrawals. I made fun of all that stuff. I trolled those people on Twitter.
84 00:15:57,720 --> 00:16:08,910 Now I'm about to go back to Twitter. This time, I'm not going there with that intent. I'm ready, should someone want to bring it, but I'm not there or going
85 00:16:08,910 --> 00:16:16,650 there. For that reason. The reason why I'm going to Twitter is I miss being able to do my small little vignettes, where I would do recordings of me either taking
86 00:16:16,650 --> 00:16:25,500 a trade or reading price action, and having some short little clip, 40 seconds long or less of music in the background. I missed doing that. Maybe it wasn't
87 00:16:25,500 --> 00:16:36,030 always your cup of tea for my music choice. But I have a very diverse palette for music. And it's just one of those things I enjoy doing. So it might not be
88 00:16:36,750 --> 00:16:38,400 worth it for you to follow me on Twitter.
89 00:16:39,780 --> 00:16:51,840 Or it might be I don't know. But I kind of wanted to clear the air for the last time and show you all one more time where I don't need to do what fraud to do.
90 00:16:52,350 --> 00:17:02,070 Like I can, I can see this stuff before happens. And you can learn how to do this too. You can read it before it happens. You can see it you can have faith
91 00:17:02,070 --> 00:17:13,980 that the things that you're learning here are rooted on sound logic. It's not randomness. It's not retail logic. These are things that are algorithmic, and I
92 00:17:13,980 --> 00:17:25,110 think today was a testimony to that. So Tomorrow's gonna be very volatile. Be careful. Do not try to trade tomorrow. You'll probably hurt yourself if you do.
93 00:17:26,370 --> 00:17:32,640 Or don't listen to me and learn the lesson the hard way. And I'll talk to you next time. Be safe.