ICT YT - 2022-05-18 - ICT Mentorship 2022 Episode 31.srt
Last modified by Drunk Monkey on 2022-05-19 06:47
| 1 | 00:00:06,899 --> 00:00:15,359 | ICT: Alright folks, welcome back. This is going to be a short little video on the s&p 500. June contract 2020. That's our daily chart. And before I get into |
| 2 | 00:00:15,359 --> 00:00:23,609 | it, just let me remind you that I do not use WhatsApp, I'm not going to be in the comment section asking you to reach out to me, Okay, hit me up. Let's talk, |
| 3 | 00:00:23,729 --> 00:00:30,269 | none of that stuff. That's all scammers. So I'm never going to ask you for money, I'm not going to direct message you. I'm not going to direct message you |
| 4 | 00:00:30,269 --> 00:00:37,679 | on Twitter, okay, all those people are just trying to scam you try to pretend to be me. I'm not asking for your money, you're here to eat off my table for free. |
| 5 | 00:00:37,919 --> 00:00:48,779 | And I'm happy to do it. So just know that those accounts are not me, please report them and ignore them. Alright, so the s&p 500 daily chart, we're gonna |
| 6 | 00:00:48,779 --> 00:00:59,339 | look at this day here. And before we get into it, I'm gonna bring your attention to the 16th of May, on that low. This morning on Twitter, I was not able to |
| 7 | 00:00:59,339 --> 00:01:09,389 | participate in the early session movement on the stock indices. Because I've been trying to do things to share with the audience that has been mainly |
| 8 | 00:01:09,389 --> 00:01:17,639 | following me because of forex. I noticed a lot of you are starting to bellyache and complain that you want to see Forex. And I understand that. But even my paid |
| 9 | 00:01:17,639 --> 00:01:26,699 | membership group, they have seen very little in terms of forex, too. And I'm pushing this asset class because this is where the volatility is, prices price, |
| 10 | 00:01:26,729 --> 00:01:35,999 | it doesn't make a difference. When Forex starts moving around big again, trust me, index futures will get slower. Why? In comparison to Forex, trust me when I |
| 11 | 00:01:35,999 --> 00:01:45,419 | tell you the currency markets will eventually within the next 12 months or so, probably start having some pretty wild movement. But until then, we have to look |
| 12 | 00:01:45,419 --> 00:01:53,669 | for volatility where we can find it now right now is in the stock index market. So if you're hardliner if you're a purist, and you don't want to see these types |
| 13 | 00:01:53,669 --> 00:02:06,089 | of moves in this type of market, I understand but learn from it works the same way in forex, just know that. Okay. So I mentioned on Twitter that I was in the |
| 14 | 00:02:06,089 --> 00:02:16,169 | dollar CAD this morning, I went long on that one on its high impact news at 830. And it was a snooze fest it took forever just to move a little bit. Obviously, I |
| 15 | 00:02:16,169 --> 00:02:24,359 | share that on the Twitter feed. So you can again, go back and look at that. So I mentioned I was gonna grab a bite to eat some lunch. And then I would look to |
| 16 | 00:02:24,359 --> 00:02:34,829 | see if there's anything for the stock in the market. And I participated in this mood, I'm going to say today here, I hinted at where the market was likely to go |
| 17 | 00:02:34,829 --> 00:02:45,929 | to. And let me state this going forward, because I had Perry Mason over there on Twitter reach out to me saying that the bar has been lowered. For calling out |
| 18 | 00:02:45,929 --> 00:02:52,979 | trades, I don't call out trades, I don't, I'm not going to put you in a trade, I'm not going to give you an entry stop target, I'm not going to do that I don't |
| 19 | 00:02:52,979 --> 00:02:59,279 | spoon feed. And I'll do that with my pay group, what I do is I point to where the markets gonna go, I've already taught you how to get in. I've already taught |
| 20 | 00:02:59,279 --> 00:03:05,009 | you where to put a stop loss, I've already taught you how to put your limit orders. And I taught you all that. Now the problem is you don't have the |
| 21 | 00:03:05,009 --> 00:03:13,559 | experience of knowing where it's going to likely go next. So this morning, what I did was I drew everyone's attention to the low on the 16th of May 2022. Now, |
| 22 | 00:03:13,619 --> 00:03:22,469 | if the market is above, let's go into a lower timeframe chart. Okay, and if we're in the market, |
| 23 | 00:03:24,000 --> 00:03:32,430 | and we're up here, and I'm suggesting to everyone think about this low over here on the 16th. What do you think I'm drawing your attention to while we're up |
| 24 | 00:03:32,430 --> 00:03:42,450 | here, and I'm drawing your attention to this specific area, the lows of May 16 2022? Do you think I'm referring to it as it should not come back down here? |
| 25 | 00:03:43,200 --> 00:03:52,440 | No, everyone should understand my style is we're aiming for liquidity. So if it's up here, and I'm pointing down here and taking your attention down here, |
| 26 | 00:03:52,680 --> 00:04:03,090 | I'm acting like a scalp. You're that sniper in training, whether you realize it or not. Okay. So I'm trying to point you to where you should be aiming. And you |
| 27 | 00:04:03,090 --> 00:04:13,470 | have to do the work of scoping it up, pulling the trigger, and dealing with all that. Okay, so there's no shortcut to this. There's not going to be an ICT on |
| 28 | 00:04:13,470 --> 00:04:20,610 | Twitter, or on YouTube that sits down in front of you and says, Okay, everybody, are you ready, we're all going to buy right now. And we're all going to put a |
| 29 | 00:04:20,610 --> 00:04:27,000 | stop loss at the same place. We're all going to put our exit or at the same place and we're all going to ride these things. And this is going to be happy. |
| 30 | 00:04:27,000 --> 00:04:34,230 | And that's it. I'm not going to do that. I never promised to do that. I'm not going to do it. Period. End of story. No way. This is how I train my students. |
| 31 | 00:04:34,260 --> 00:04:41,550 | It works folks. It does not work for lazy people. Okay, I understand that some of you just want to be handheld, but that's not going to happen with me. I don't |
| 32 | 00:04:41,550 --> 00:04:48,960 | do it. I didn't do it when people paid me and I'm not going to do it for free either. So you don't need me to hold your hand if I point to where I think the |
| 33 | 00:04:48,960 --> 00:04:57,900 | markets gonna go. It's your job to study and look for the opportunity. The fair value gap is what you're gonna utilizing. Okay. Some of you are fixated on only |
| 34 | 00:04:57,900 --> 00:05:05,400 | looking for the setup at the opening Well, what happens if you don't get a trade at the opening? Can't you use a fair value gap to get involved the move if it's |
| 35 | 00:05:05,400 --> 00:05:14,790 | gonna go down something like this? Yes, that's what I did today. So let me add the annotations in the form of showing you the executions so that we can see I'm |
| 36 | 00:05:14,790 --> 00:05:26,820 | not sure why this thing is not popping up. Stay on there you go. Alright, so here's where I entered a bid for contracts at 4007 and three quarters, aiming |
| 37 | 00:05:26,820 --> 00:05:36,330 | for the 16 ounce low I didn't have a whole lot of time to be babysitting this thing. And late afternoon, this could have easily whipped up did some kind of |
| 38 | 00:05:36,360 --> 00:05:44,640 | retracement if that ain't gonna stop loss trail down and then maybe move lower. So just to make it easy short and sweet to the point your attention was drawn to |
| 39 | 00:05:44,640 --> 00:05:57,030 | the 16th the low on the 16th of May let's go into a 15 minute timeframe Alright, so you can see up close candle What do you think that is right before we start |
| 40 | 00:05:57,030 --> 00:06:09,690 | to go lower to bearish order block show that out in time it hits that order block on this candle here dropping into a five minute chart what is this |
| 41 | 00:06:22,680 --> 00:06:34,230 | doesn't look like they're gonna get to zoom in. So right in here, it's hitting it overshoots it granted, there's a lot of volatility right now. This candle is |
| 42 | 00:06:34,230 --> 00:06:45,090 | high, your stock would be above there. Hold on to the position until it starts to break lower. If you want to fine tune it |
| 43 | 00:06:55,079 --> 00:07:08,339 | this is the one I shared on Twitter in the recording. Okay, so what I saw was this very gap here, it hit it created what what is this? What's this pattern |
| 44 | 00:07:08,339 --> 00:07:17,279 | here? What's these three candles here? It's a swing high. So as soon as this candle closed here, I'm gonna go right here at this candle and just get in and |
| 45 | 00:07:17,279 --> 00:07:26,699 | go short, trusting the fact that we've already had a fair Vega. We already went through it. We have a swing high, and it's bearish. I'm looking for what what am |
| 46 | 00:07:26,699 --> 00:07:38,849 | I looking for? I'm looking for a run below this old low which is May 16 2020, as well. So entering here, and I'm writing it out. With a stop here. Everything is |
| 47 | 00:07:39,059 --> 00:07:47,249 | reduced in terms of risk. Soon as we started the break lower here and started moving in my favor. Aggressively I moved my stop only because the volatility is |
| 48 | 00:07:47,249 --> 00:07:55,949 | so high right now. I just don't want to see it come back and knock me out. That's not fear. That's just sound money management. I'm not trying to take a |
| 49 | 00:07:55,949 --> 00:08:09,749 | losing trade. So here is the entry again. It delivers on a downside. That's my first partial here. One off here in an Eliminator, you watch that Phil on the |
| 50 | 00:08:09,749 --> 00:08:21,209 | little recording the vignette that I shared on Twitter. Ultimately, we started going a little bit sideways going into the beginning of lunch in New York. |
| 51 | 00:08:21,479 --> 00:08:34,109 | Here's your typical lunch time consolidation. And then what's this stops the head of lunch fair value gap |
| 52 | 00:08:40,800 --> 00:08:59,040 | almost like it knows what it wants to do. Breaks lower consolidation again trades lower consolidation bumps to stops here. What's this ice tea just makes |
| 53 | 00:08:59,040 --> 00:09:13,890 | it so complicated. It's it sells off. Sell side here. consolidates one more time and trades and meets the low of the day. I think on this one. Most candle though |
| 54 | 00:09:14,520 --> 00:09:29,370 | 3910 Not bad. So that is what I did today. I did not participate in the afternoon session. Post New York lunch. This is all I had to share today. Right |
| 55 | 00:09:29,370 --> 00:09:39,630 | there. They they're, they're in there. Okay, that's gonna be it for today. Hopefully you enjoyed this and found it insightful, and I'll talk to you |
| 56 | 00:09:39,630 --> 00:09:41,040 | tomorrow. Be safe. |