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ICT YT - 2022-05-21 - ICT Mentorship 2022 Episode 33.srt

Last modified by Drunk Monkey on 2022-05-21 17:27
1 00:00:05,879 --> 00:00:21,449 ICT: artbooks Welcome back. This is our final meeting for the week. And this completes my daily review for the 2022 ICT free mentorship on YouTube series. So
2 00:00:21,449 --> 00:00:34,199 we finally made it run below that may 1220 20. Low here. And I want to take your attention into the hourly chart
3 00:00:45,720 --> 00:00:55,920 All right, so here's the trading day, for Friday. And we'll look at this when we get to it.
4 00:01:01,530 --> 00:01:17,700 Alright, so consolidated market ran up to stop on my final balance on the paper trade, we moved into a deeper fair value gap, greeting the high of the day, we
5 00:01:17,700 --> 00:01:31,110 broke down below the 3915 and a quarter level. Now for me, this was the turning point that I required, like I didn't want to do anything prior to this run here.
6 00:01:31,560 --> 00:01:45,990 I did a commentary on the Twitter spaces, portion of their service or whatever, where you basically just get to hear someone talking in the jawbone for a little
7 00:01:45,990 --> 00:01:57,750 while. Now 830 to 10 o'clock, I spent about 90 minutes just covering a lot of different things from psychological things to personal things and trading and
8 00:01:58,500 --> 00:02:14,700 how my children are, with the exception of one not really interested in trading. But now I have one of my sons that are actively pursuing. And now, obviously,
9 00:02:15,000 --> 00:02:36,660 he's given me permission to show you his account here. It's a it's a live account. Okay, so you can see. He got his account up today. Here. So, previously
10 00:02:36,660 --> 00:02:48,360 balance was mentioning and showing you earlier, I showed you a little clip on Twitter, previous balance after commissions, he had $9,751.60. And today, he
11 00:02:48,360 --> 00:03:04,500 added another $3,700 to it, bringing this balance the 13,004 and $51.86. That would essentially be in three weeks, like 300% return, or number one spot on the
12 00:03:04,500 --> 00:03:20,940 province leaderboard in less than a month. Now, obviously, amp allows you to trade with the amount of leverage days, you exceedingly lower than that of what
13 00:03:20,940 --> 00:03:32,220 Robins would do. That kind of return, obviously, is not typical. Okay, I'm not promising any of you, you're gonna get that. And yes, he's my son. So he has a
14 00:03:32,220 --> 00:03:43,350 lot of experience sitting next to him. So when we're looking at charts together, I'm kind of like, leaning on my experience and asking him what he sees.
15 00:03:43,680 --> 00:03:51,870 Basically what I'm doing with you all, when I'm training you. Okay, I'll prompt you, I'll say, what do you see here? And what do you see there, so that we can
16 00:03:51,900 --> 00:04:02,640 build his understanding as the charts are painting. And he gets the poster buttons on his own, deciding whether he wants to get in or get out. And there it
17 00:04:02,640 --> 00:04:14,670 is. And today, I was utilising that swing low there. So I wanted to see that break. So during the time on Twitter, I wasn't really interested in anything
18 00:04:14,670 --> 00:04:25,140 until that low was taken out. And you can hear that in the discussion. Wanting this, see this low break. I was giving it an opportunity to see if there was
19 00:04:25,140 --> 00:04:35,070 going to show a willingness to come up here and run these highs that could very well happen. Hit that and then did all this business here. But it just so
20 00:04:35,100 --> 00:04:44,220 happens that it breaks the 30 Minute 15 and a quarter level here and then right in there, I'll explain how I personally would have been involved in how I
21 00:04:44,220 --> 00:04:54,420 actually was talking to my son about it and these types of ideas helped him propel his account today. The market trades below the short term low here, took
22 00:04:54,420 --> 00:05:03,510 some sell side out there and then ultimately taking out the 3055 level. rather handsomely. And we'll look at all this business when we drop down lower
23 00:05:03,510 --> 00:05:13,350 timeframes. Let's look at a 15 minute timeframe. Alright, so here's that fear of it got worked up into, I wasn't interested in all this business back and forth
24 00:05:13,350 --> 00:05:25,020 chopping around. Finally, with the 3915, and a quarter level, it broke through it. And then we had a gap in here, which we'll see on the lower timeframes that
25 00:05:25,500 --> 00:05:35,070 was, in my opinion, the better trade. Now some of you are going to look at this and say, well, it didn't go to a premium. I'm teaching you how to find the
26 00:05:35,100 --> 00:05:47,790 highest probability, and also trusting the model. I'm not limited to just one model. Okay, so I kind of like want to preface it by saying that I don't want
27 00:05:47,790 --> 00:05:57,420 you thinking that I'm just this one trick pony, that I can only do what I'm taught in this model. I know some of you want me to sit down every single day
28 00:05:57,450 --> 00:06:02,310 and give you the example of that model. But to do that, that takes away
29 00:06:03,930 --> 00:06:13,560 that discovery for you. Like you got to go into your charts and find them. And then by building a backlog of old data, showing those types of moves, it helps
30 00:06:13,590 --> 00:06:24,030 obviously, with your confidence, it builds your own pattern recognition. And it just, this is the way you're supposed to do it, period, you know, I'm not going
31 00:06:24,030 --> 00:06:29,820 to do it for you, I'm not going to hold your hand for you. I've taught you what it looks like and how to find it, where it forms that when you go through it.
32 00:06:29,820 --> 00:06:41,280 And you look for it to form in your own charts, and collect the examples of it. That's backtesting. So anyway, it runs through 3072 and a quarter creates
33 00:06:41,280 --> 00:06:49,800 another opportunity. And here you can actually see the fair value got their trades, that's another short, worth lower, finally creating the short term low.
34 00:06:50,100 --> 00:07:03,690 And at 130. That's when we start watching the Afternoon pm session. It rallies up creates short term high in here, fair Vega. The last hour of trading rallies
35 00:07:03,690 --> 00:07:11,250 back up into a fear of a gap here. So if you look at the range from here to here, it goes back to a premium that taught you that sets a target this
36 00:07:11,250 --> 00:07:27,420 imbalance, fair a gap, reversal on Fridays, trading up into an own amounts there. Okay, so my son participated in shorts. And here, it took two shorts, and
37 00:07:27,420 --> 00:07:43,050 went long in here, all throughout this and was able to, again, push his account up $3,700. Today, we go into a five minute chart. Here is that same idea where
38 00:07:43,050 --> 00:07:53,790 it went created the low 130 It starts doing its business was it reaching for gonna go back into the middle the range into a premium. This is the array above
39 00:07:53,820 --> 00:08:04,950 half the move from here to here is 50% equilibrium. And this is the premium level. So it goes down small little drop down in here into the Faraday gap after
40 00:08:04,950 --> 00:08:16,320 three o'clock, and then the market starts sending it into an algorithmic spool or all this price action starts running aggressively into the close up into a
41 00:08:16,320 --> 00:08:26,310 completely random level that was shown on the hourly chart. And here we have the market trading right up into that area and then this consolidation going into
42 00:08:26,310 --> 00:08:46,410 the close. So now the idea of looking for a setup any go into let's go into this little area right in here. Here's that fear of a gap there, it rallies up into
43 00:08:46,410 --> 00:09:00,960 it there in there, then breaks lower in here, so if I have a gap, it trades up into there, and sales off. Notice that it's occurring at the levels that I have
44 00:09:00,960 --> 00:09:11,100 here on the chart, those old lows where sell side would be resting. So we're using the fear of a gap after a run below. In other words, think of it like
45 00:09:11,340 --> 00:09:23,160 support broken. Return back into the fair value gap not listen, folks, listen, not go back to the old low broken and act as resistance. Okay, that's not how I
46 00:09:23,160 --> 00:09:30,060 look at it. If the fair pay gap doesn't exist. I don't trust that level as an old support broken term resistance. That's why I try to tell everybody that
47 00:09:30,060 --> 00:09:41,340 comes to me. Oh, he's just trading, breaking retest or he's trading support and resistance. I'm not because I classify specific levels beforehand, looking at
48 00:09:41,340 --> 00:09:49,290 them with the logic that the markets going to create these patterns around them. Same thing here old low, the fair value gap trades up into it. Why didn't they
49 00:09:49,320 --> 00:10:01,950 just stop at the 3072 and a quarter level because it's going into the imbalance here then delivers going lower? So the two shorts are in here in here. Long's
50 00:10:03,180 --> 00:10:16,380 ran in here, here, and in writing up into the amounts, okay. And it's real hard to beat a Live account proving it. And it's all the better when it's your own
51 00:10:16,380 --> 00:10:27,510 son pushing the buttons and seeing happen. So that's a really good feeling as a dad. So hopefully, with what I shared this week, I gave a lot of content. And
52 00:10:27,960 --> 00:10:38,610 today, I just wanted to understand what it was and why I was not willing to take a trade yet, because I wanted this level, that 3915 and a quarter level to be
53 00:10:38,610 --> 00:10:52,020 broken. I wanted that to happen first. And to do that, because on the 15 minute timeframe, that gives me that break where it's all up here, it's just it's
54 00:10:52,020 --> 00:11:00,450 consolidated. I don't want to catch a break below a short term low, and then run relative equal highs. Notice that that's the reason why I'm picking that because
55 00:11:00,450 --> 00:11:04,320 I know you're all asking, Well, why didn't you use any of these short term lows being broken?
56 00:11:04,830 --> 00:11:13,710 You could have if you want to be ultra aggressive, I wasn't willing to be ultra aggressive because we have a lot of volatility in these markets right now. So I
57 00:11:13,710 --> 00:11:24,000 want to know that I know. So this short term low, that's why hadn't noted I told you about it in the commentary today, listening to me on Twitter, breaking
58 00:11:24,000 --> 00:11:37,320 through, you don't see the gap here on the 15 timeframe, but it's appearing on the five minute chart. And that's what my son employed as his trade. And then
59 00:11:37,350 --> 00:11:46,230 down in here, there was another trade. And down here, there was no trade. And then here's a trade. So the key levels that I note, they're not just
60 00:11:46,230 --> 00:11:57,630 indiscriminate levels, they're levels that are built on the logic. And it's based on liquidity, not support and resistance, its liquidity, the orders I know
61 00:11:57,630 --> 00:12:09,870 are going to be there based on the logic that the markets likely to do what it's going to reach for that 3055 level only if we break below here, and then we have
62 00:12:09,870 --> 00:12:20,370 a fair Vega. And then we break this level here, and does it get another pair of Vega Yes. And then delivers even more. So it's a matter of all these things
63 00:12:20,370 --> 00:12:33,720 coming together as a confluence, not just one thing. Leading to that's the conclusion. That's the, the exercising of the pushing of the button. It requires
64 00:12:33,720 --> 00:12:43,380 a lot more things. And that's kind of like when I was helping you with yesterday. And hopefully this morning, if I was successful, at least, I was
65 00:12:43,380 --> 00:12:50,820 hoping I was successful. Some of you are really coming back with feedback on Twitter saying it was it was helpful. And you seen it. Some of you actually took
66 00:12:50,820 --> 00:13:00,000 trade, some of you actually did demo and paper trades and you see it, you actually participated in it. But when I said this morning, when I was closing
67 00:13:00,000 --> 00:13:10,710 the presentation on Twitter, where I was audibly heard, you can't see my charts, I was kind of like discussing things and certain levels. What I was saying was,
68 00:13:10,740 --> 00:13:20,700 I don't have a setup yet. It's sloppy. And what it was doing is all of this in here. Okay, so as we got to the 10 o'clock hour, I told you, I wanted to be off
69 00:13:20,700 --> 00:13:28,740 air at 10 o'clock, because I'm anticipating the algorithm taking that low out and it does and then it creates the pattern I taught you, which is the fair
70 00:13:28,740 --> 00:13:39,240 value gap, we have the displacement. And I want to see it take off. Now, if you look at this displacement lake here, you're going to want to measure that and
71 00:13:39,240 --> 00:13:48,360 say, Well, okay, it didn't go to a what? Premium. I don't expect it to go to a premium in here cuz it's going to be a hurry to do what? Get down below that
72 00:13:48,420 --> 00:14:00,180 3855 level for the week. So let's go more time back into the lower timeframe. Obviously, the first time timeframe. Scrub back here
73 00:14:08,880 --> 00:14:21,900 Okay, so here is that returning to the fair pay gap here. So when it does this, I'm looking for it to move quickly away and start gravitating towards the other
74 00:14:21,900 --> 00:14:39,660 pool of liquidity down here. If you're looking at it from the relationship of short term feeling range, this swing high swing low. We have our fair value gap
75 00:14:39,660 --> 00:14:51,030 here. It trades up into it there and that level 3915 and a quarter. So it's a confluence of several things, but the level itself this highlights where the
76 00:14:51,030 --> 00:15:02,460 liquidity would be. The imbalance is what I'm keying off of and what I'm focusing on. So, equilibrium or up Oh, this what? Premium? That's what this is
77 00:15:02,460 --> 00:15:12,930 here. Okay, that's on a one minute chart. So don't be discouraged or look at it from a perspective that, hey, you know, the market didn't go to a premium. You
78 00:15:12,930 --> 00:15:21,510 just don't have the experience to see it yet. You got it, you have to do this for a while, folks, it isn't a watch one time. And then you know it, like it
79 00:15:21,540 --> 00:15:31,200 takes some effort on your part. But I promise you, if you work at it, you're gonna get it, you're gonna get it. And then once you have it, you can't forget
80 00:15:31,200 --> 00:15:40,950 it. It's like riding a bicycle. Okay, so hopefully this has been insightful to you. Hopefully you learned something this week. Hopefully, I was able to propel
81 00:15:40,950 --> 00:15:51,030 your understanding a little bit beyond what you were thinking was about all you're going to get from me for 2022. I have obviously some more things I want
82 00:15:51,030 --> 00:15:59,070 to share with you. But hopefully, you know, you enjoyed this week with me, and I'll touch base with you on next Tuesday and Lord willing, until then, enjoy
83 00:15:59,070 --> 00:15:59,970 your weekend. Be safe.