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ICT YT - 2022-05-25 - ICT Mentorship 2022 Episode 34.srt

Last modified by Drunk Monkey on 2022-05-27 12:05
1 00:00:06,660 --> 00:00:24,420 ICT: Alright folks, welcome back. This shown off stuff. Alright, so today we went through the process of watching in analyzing the opening price on ES. And I
2 00:00:24,420 --> 00:00:37,440 mentioned on Twitter that I was interested in this old high back here, that's largely linked to the fact that we had a gap. When the session started again
3 00:00:37,440 --> 00:00:51,510 last night, my local time about six o'clock, we got down and then just drifted lower. Had a small little rally in here SMT divergence, I'll show you that in a
4 00:00:51,510 --> 00:01:04,290 moment. But in here we have market creating relative equal highs, it broke down, I gave you the fair value gap live this morning on the live stream, walk you
5 00:01:04,290 --> 00:01:21,330 through the whole business of running out the sell side and the opening gap on Sunday, which is over here, so I don't have that on my charts, let me just drop
6 00:01:21,330 --> 00:01:38,100 that on quick. If you don't mind me, working as I go, I don't want to be doing anymore edits, then I need to think you mind doing and running. So we can see
7 00:01:38,100 --> 00:01:55,410 what I'm showing you. Alright, so the market trades down below sell side here and into the Sunday gap opening. We traded throw it all the way down to another
8 00:01:56,550 --> 00:02:14,130 very good. hits that there comes back up, runs back up into the opening range drops once more into an order block. Rallies picked up short term high retraces
9 00:02:14,130 --> 00:02:29,100 back down into another order block stretches out love as you can see a little bit better, and it's not as cluttered. Is it now. Alright, and we worked off
10 00:02:29,100 --> 00:02:38,580 this order block this order block, which you'll see when we get into five minute chart we have a little bit cleaner here in here. And rallying up into the levels
11 00:02:38,670 --> 00:02:43,710 mentioning on Twitter this morning. So I'm going to drop into a five minute chart
12 00:02:50,400 --> 00:03:01,680 Okay, and there's a bit of a gap I gave you why beautiful delivery. Look at the low on this candle right here. Green up here, look at this value right here.
13 00:03:04,350 --> 00:03:15,540 3926 and three quarters. This candle trades right back up to what value? The high now on this candle 3926 and three quarters, folks, that is absolutely
14 00:03:15,660 --> 00:03:26,940 perfect. That's perfect price delivery. Okay. I know, I'm kind of known for the forex market show and things like that to the people, that type of stuff. It
15 00:03:27,180 --> 00:03:38,010 originated really with index futures, bonds and index futures. So in the 90s, I was utilizing the same tools. I know, it seems like it just came out of nowhere
16 00:03:38,040 --> 00:03:52,710 recently because I've talked about it. But these things have been under my control my my ownership, if you will, for that three decades. So it's nice to be
17 00:03:52,710 --> 00:04:09,750 able to share them obviously with all of you and it's very well, I guess the word is fulfilling to show it to you, that walk you through it live so you can
18 00:04:09,750 --> 00:04:20,880 see what it is what it looks like. And yes, I have a lot of people asking me, why don't I give trade signals? Can I run a trade signal room, please, I will
19 00:04:20,880 --> 00:04:33,300 pay you can you do this? And can you do that? No, I'm not going to do that. Okay. I don't want to be in another paid service type thing. Okay, I'm sick of
20 00:04:33,300 --> 00:04:40,650 it. I don't want to deal with that anymore. I can make all the money ever need trading and to be honest with you, I don't really need to do anything anymore.
21 00:04:40,650 --> 00:04:52,200 Anyway, I'm padded out. So just enjoy the fact that I'm wanting to teach I love teaching. I love sharing with you. And I know it is helping a lot of you. So
22 00:04:52,200 --> 00:05:01,680 just let that be the economy between us. Okay, I like doing it you'd like receiving it doesn't cost you anything. So there you go. So when we hit this
23 00:05:01,680 --> 00:05:13,950 fair Vega, they broke lower and then once more returned back up into it on the into the fair Vega up into that range here and then broke. And I gave you a
24 00:05:13,950 --> 00:05:22,740 small little imbalance and we'll look at in a moment we traded down into the Sunday gap. I mentioned the lower end would be this time, the level the watch
25 00:05:23,190 --> 00:05:32,580 and said we went down below it come back up, it'll act as what resistance it does. So here we'll look at lower timeframe. drops lower, once more hits the old
26 00:05:32,760 --> 00:05:43,170 phire gap I showed you before we dropped into the five minute live consolidate consolidation ahead of lunch. Typical retracement during the lunch hour, all the
27 00:05:43,170 --> 00:05:54,870 way back up to the opening range. Broke lower, small little swing low broken back to rebounds. And also look what it's still in here, folks. It's gone back
28 00:05:54,870 --> 00:06:08,520 up into that old gap opening on Sunday trades up into it acts as what resistance trades lower down into an order block. Big down candle and dare that's the one
29 00:06:09,060 --> 00:06:23,700 over here. It's it starts to accumulate rallies up back above what level? Here I'm going to make Sunday's levels really, really obvious. It's going to be
30 00:06:23,730 --> 00:06:41,340 obnoxious. Actually. I want you to see what was going on in my mind. As I'm watching price. Price goes above the opening gap or gap opening rather from
31 00:06:41,340 --> 00:06:58,470 Sunday, then trades back down into it. See that hits it rallies fall short of what the relative equal highs over here retraces where does it trade down into
32 00:06:59,940 --> 00:07:16,650 that gap opening again. Now we're at the discount low. Rallies comes back down in fear Vega trades into that this is a 50 Minute order block. Rallies. And
33 00:07:16,650 --> 00:07:24,390 what's it go to? 3952 and three quarters level.
34 00:07:25,500 --> 00:07:34,710 Here is it a beautiful, beautiful, beautiful, beautiful. In the afternoon, it became a lot better in the morning, it was sloppy. So when I say things are
35 00:07:34,710 --> 00:07:43,590 sloppy, it just means that it's not really giving you a whole lot to work with. I mean, you have very few options. And you have to know exactly what you're
36 00:07:43,590 --> 00:07:54,450 looking for, ie what I was giving you this morning. And this area here watch how to stay open and it stayed open. Basically the whole thing. This is sloppy, even
37 00:07:54,450 --> 00:08:05,610 though it's a nice delivery. It's not giving you all of the mechanics of entry like this one here, this one here, this one here and then run to the objective.
38 00:08:06,060 --> 00:08:15,720 I was drawing your attention to today. So the morning while yet it was still potentially profitable. And I was able to call it for you live. That really
39 00:08:15,720 --> 00:08:29,790 wasn't my choice session, because it was just I didn't have a real clear view on what I wanted to see. This morning, one of the followers on my Twitter feed lady
40 00:08:29,790 --> 00:08:45,570 asked, Why was I talking about 3953 level rounded up one quarter point above this level. And the high comes in at 3954 and a half. So off by one and a half
41 00:08:46,440 --> 00:09:03,030 points. So our handles. So I was more interested in the run to that level versus just going down to the Sunday gap opening or the old London Open lows, their
42 00:09:03,030 --> 00:09:12,420 trades there, obviously. And you can see I can see them coming. It's not a matter of you know, missing them. I don't know that they're there or forming. My
43 00:09:12,420 --> 00:09:23,010 interest really lies with what is the setups that I'm liking the most? Like, what is it I'm looking for specifically? And the level I gave you that 3953
44 00:09:23,010 --> 00:09:32,190 level? I want to see a run up into that. So we had to come down below and then back above Sunday's gap opening and it treats it as a dynamic support resistance
45 00:09:32,190 --> 00:09:45,480 level. Did you just hear ICT? That's blasphemy. He just talked retail. That's a cuss word around here. We're talking about in a way where you'll understand it.
46 00:09:45,480 --> 00:09:54,390 So the opening gap on Sunday. If you put it in your charts and just plot it across the entire week, you'll see that many times there's a lot of valuation
47 00:09:54,600 --> 00:10:03,180 around that gap. So it'll be treated as a dynamic price level. If it's above it, look for it. Active Support. If it's below, look forward to act as resistance.
48 00:10:03,330 --> 00:10:14,190 And as you can find a swing high, for instance, we have these here, we trade down. Okay? If it's going to trade down into this Sunday gap opening, look for
49 00:10:14,190 --> 00:10:21,060 it to run about here, there you go, you don't need to have this level that I pointed out, this is enough relative equal height, and relative equalizer here.
50 00:10:21,420 --> 00:10:31,020 So I'm taught you how to find those Beisa liquidity pools. But I taught you today with this lesson. Using this and the gap opening and just extending it
51 00:10:31,020 --> 00:10:38,280 through the entire week, sometimes, the week will just run away from it and won't really come back to it. But in weeks, where there's consolidation, like
52 00:10:38,280 --> 00:10:50,280 FOMC, we have that to deal with for this calendar week. And those types of events, create these choppy range bound range bound markets that don't give you
53 00:10:50,640 --> 00:10:58,890 the real clean take off one way directional move, you have to know how to trade in these environments. Okay, so obviously, my tools do very well on this and in
54 00:10:58,890 --> 00:11:08,520 this environment, too. But let's go down into Format Chart. Let's go into three.
55 00:11:14,580 --> 00:11:27,300 Let's go down to two minutes. There it is, I kind of forgot what timeframe I was looking at Good grief. Alright, so we dropped down to a lower timeframe, here's
56 00:11:27,300 --> 00:11:35,010 a two minute, you can see we have a fear of a gap here. I mentioned how I didn't want to see it come back up into that once we moved away, go back and watch the
57 00:11:35,010 --> 00:11:46,140 live stream recording. It's on YouTube. unedited. It's exactly as it was done at the time, you can see I was fumbling around. Had no idea what I'm doing. Before
58 00:11:46,140 --> 00:11:59,760 I get in any further in this lesson, one lecture. Understand this, I am not buttering you all up. To do these a lot. I don't want to do them a lot. They
59 00:11:59,760 --> 00:12:10,020 take a lot of my time. They distract me from my own trading and my own personal life. So I understand that doesn't make you feel good, because you've had a good
60 00:12:10,020 --> 00:12:20,490 time today. And maybe you learned something yesterday, too. But the other live session, but I showed you what it looks like, I showed you how you go into the
61 00:12:20,490 --> 00:12:31,590 marketplace, and you read it. And I'm going to leave it up to you the viewers to decide whether or not if these things work, okay. You don't need me holding your
62 00:12:31,590 --> 00:12:43,440 hand, the worst thing that I could do is sit down with you just a few times a week, or even once a week, that would create such a codependency on me. That
63 00:12:43,470 --> 00:12:55,080 would not help you. And to be quite honest with you. I knew as soon as I did this, I would get complaints and emails and things. You know, we need you to
64 00:12:55,080 --> 00:13:06,000 help us take live trades. We want you to do that you're being selfish, you're being ignorant, you are you self centered, because you won't tell us when the
65 00:13:06,000 --> 00:13:15,030 good and when the good. Folks, I didn't do this for that type of feedback. Okay, I only promised I would show you that I could show you the things before it
66 00:13:15,030 --> 00:13:22,710 happens that we can see what it looks like. And there's nothing that's required. You need to trick anybody, I mean, either it's going to work or it's not going
67 00:13:22,710 --> 00:13:30,060 to work. But you have to be in front of the charts, doing these types of things. And failing is part of that, that's how you learn these are opportunities to
68 00:13:30,060 --> 00:13:46,680 grow from that. So anyway, I think that is it, I want to go back up to the 15 minute timeframe. And talk a little bit about this area up here. That gap, I
69 00:13:46,680 --> 00:13:57,210 think that is where we're going to be drawn up into because this is in my opinion, not going to be left open. Okay, so they're gonna want to trade back up
70 00:13:57,210 --> 00:14:08,610 into that there's missing data here. Okay, there's an actual gap. So it'll want to draw into that. And what to what price level, I'd like to the low on that
71 00:14:08,610 --> 00:14:18,630 candle. Okay, so if there was gonna be a perfect delivery, it would go right to that candles low. But unexpecting perfect. I'm not suggesting that at all. But
72 00:14:18,900 --> 00:14:29,820 if we go above this area, that means we're probably going to go into a deeper run on the daily and
73 00:14:35,070 --> 00:14:46,770 take everything off here. So we're likely to run this high here and we have a number of lochmere. So the low at 4000. So it's something to consider him and
74 00:14:46,770 --> 00:14:55,770 watch going forward. For the rest of the week. I might be wrong. You know, it's something for you to go into your charts and start studying and looking for. I
75 00:14:55,770 --> 00:15:07,170 think I have one bit of business Oh, Hey, let's go back into school into a fire miniature
76 00:15:13,530 --> 00:15:26,070 All right, I was watching Hannah, on her YouTube channel. And I don't know exactly. offhand what market was, I want to say it was Australian dollar, maybe
77 00:15:26,070 --> 00:15:33,870 it was Canadian dollar, that something it was a forex pair, I don't need to have that on the chart to explain what I sell are doing. And some of my students,
78 00:15:33,870 --> 00:15:45,030 when they first come in to the fold, they do this type of thing, too. They will look at a range like this, like here to here and they'll measure that range LOW
79 00:15:45,060 --> 00:15:59,340 to HIGH to find the 50% level and then use that over here for a discount. That's not how we do it. Okay, if we are looking for a short, in Anna's example she was
80 00:15:59,340 --> 00:16:05,580 looking for short, you want to look at the price leg that drops and this is going to be the reverse of that. Okay, so this might be a little confusing, but
81 00:16:05,580 --> 00:16:14,940 just the reverse logic. And you'll understand I'm sure Hannah will follow along. So from the low here, up to this high here, if we're looking for a long to get
82 00:16:14,940 --> 00:16:26,280 about these relative equal highs and or use that 3953 level I was calling for or making reference to this morning. This low up to this high, this is what we'd be
83 00:16:26,280 --> 00:16:36,930 doing. Okay. So if you're looking for it to go higher, you're going to need to draw your fib from a low up to a high that dealing range from that low that a
84 00:16:36,930 --> 00:16:49,020 high, we're waiting for an anticipated retracement to the retracements going down to and below 50%. Now this becomes what a discount. So you can be hunting
85 00:16:49,020 --> 00:16:58,890 along at this level or less. If we're into a fear of a gap, that's good. Okay, the same thing is done here. And we're looking because it has not taken this out
86 00:16:58,890 --> 00:17:10,800 here yet just fell short of it. So if we take the FIB and anchored to that high, and run it to here, you can see here's 50% of this dealing range low, this
87 00:17:10,800 --> 00:17:22,200 dealing range high and it drops down to a discount. Okay, you're looking at expansion swings, okay, or impulsive price swings in the direction you're trying
88 00:17:22,200 --> 00:17:32,970 to trade. You don't want to use a price lag from high to low, measuring something that you're trying to go long one, but you don't want that you want to
89 00:17:32,970 --> 00:17:43,530 be using the impulsive price swings that go in the direction you're trading, then it retraces down in below 50% Or at it into a fair value gap. Then you can
90 00:17:44,100 --> 00:17:54,510 probe there's a long rallies up. So I just want to kind of clarify that I wasn't sure if she was aware what she was doing. But if she wasn't aware of that now
91 00:17:54,510 --> 00:18:06,480 she knows. So that way all of you have had the benefit of learning through her interactive study, which I'm absolutely loving. I'm loving it. I wish more of
92 00:18:06,480 --> 00:18:16,380 you would do it. And as long as I had time to sit down usually it's on the weekends that I get a chance to catch up to stuff like that. But I'm loving the
93 00:18:16,380 --> 00:18:28,440 Thailand vibe. I'm loving the anti booboo kits and not so much the food poisoning. Sorry for that. But hopefully this has been insightful to you,
94 00:18:28,440 --> 00:18:35,370 Hannah. Hopefully everyone else has got something from this as well. And I'm sure I'll be back again Lord willing on Thursday. Until then, be safe.