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.