ICT YT - 2022-06-01 - ICT Mentorship 2022 Episode 36.srt
Last modified by Drunk Monkey on 2022-06-11 09:10
| 1 | 00:00:09,000 --> 00:00:20,820 | ICT: Alright folks, welcome back the continuing ICT 2022, free mentorship on YouTube. And I'm taking you into the E Mini s&p futures contract for June 2022. |
| 2 | 00:00:23,100 --> 00:00:37,170 | And I saw questions in previous videos where they're asking about June. And we're in the month of May, these contracts are delivered by contract month. So |
| 3 | 00:00:37,170 --> 00:00:48,150 | we're about to a couple of weeks and trading of June contract and will rollover into September 2022. Contract. But we have a couple of weeks though, trading to |
| 4 | 00:00:50,220 --> 00:01:04,710 | toss that in here for no extra charge. Alright, so hourly chart, obviously, you're looking at a swing low here, to swing high, getting our range, here's |
| 5 | 00:01:04,710 --> 00:01:20,430 | equilibrium. So the market did in fact drop down into a discount and appear of a gap. So we have a market that is in what an oversold condition, do we need an |
| 6 | 00:01:20,430 --> 00:01:32,550 | indicator to plot that or determine that? Nope, absolutely not. The rectangle is there just to draw special attention for you, the viewer? The fib is just to |
| 7 | 00:01:32,550 --> 00:01:42,360 | highlight exactly where equilibrium is anything above that level would be considered premium, anything below it, discount. So we moved from this high down |
| 8 | 00:01:43,170 --> 00:01:53,580 | into a fair value gap and below equilibrium. So we're going to discount. Alright, here's the five minute chart. And notice that we had this run up in |
| 9 | 00:01:53,580 --> 00:02:06,960 | here I mentioned in Twitter. And again, my Twitter feed is not a signal service. So that way we understand one another. But I was highlighting the idea that this |
| 10 | 00:02:06,960 --> 00:02:20,940 | was likely to go higher. And it needed to go for a premium relative to this high in that low. So we moved up into a premium. And then we slid aggressively taking |
| 11 | 00:02:20,940 --> 00:02:29,640 | out relative equal lows. So below this low here, and here is what Southside liquidity, it was quick view that rate the opening night very short little |
| 12 | 00:02:29,640 --> 00:02:40,800 | bounce. Then one more time below the low here, taking our sell side, pretty one that one of the captured along here. They knocked them out shift in market |
| 13 | 00:02:40,800 --> 00:02:59,070 | structure and then roll up even higher. Rebalancing all of this back down into an area here where we have a five minute per Vega traits that into it. I |
| 14 | 00:02:59,070 --> 00:03:19,980 | mentioned on Twitter, that we would like to trade higher and take out the short term high here. And here. So that's in the morning. Hi, that's this here. I was |
| 15 | 00:03:19,980 --> 00:03:29,340 | gonna need to draw on liquidity. And we saw that we're on here and actually one would be higher than I thought it was for the morning. Ultimately up into a bit |
| 16 | 00:03:29,340 --> 00:03:43,080 | of a gap here for a really, really deep premium, from low to high, traded up into that and then pull back inside the range between this low and the high. So |
| 17 | 00:03:43,080 --> 00:03:52,530 | on a one minute chart, we're zoomed in here. And you can see the morning. I did a small trade here. I recorded this did a small little vignette shared on |
| 18 | 00:03:52,530 --> 00:04:04,440 | Twitter took the partials here at the time of posting the tweet. And then the limit we're getting hit here. Then the only other trade I had today was waiting |
| 19 | 00:04:04,440 --> 00:04:17,340 | for drop down to a discount. And when it did, I went long here have a little bit of heat here. Not much. It was like five handles. So bearable. Stop loss was |
| 20 | 00:04:17,340 --> 00:04:28,500 | just below the swing low over here. So did it hit it? No. It looked like it was going to I don't know I wasn't looking at the chart at the moment it happened. |
| 21 | 00:04:29,100 --> 00:04:34,590 | The trade here I don't care. But ended up coming back up. And I mentioned that we would run |
| 22 | 00:04:36,420 --> 00:04:48,930 | this high right here. Because we've taken out the sell stops here after running higher. So we had a shift in market structure back here earlier and then we can |
| 23 | 00:04:48,930 --> 00:04:58,560 | basically consolidate and drop down to take out the cell stops. So anyone that was lucky enough to go long here and read it up to here. The algorithm drops |
| 24 | 00:04:58,560 --> 00:05:08,760 | back down clears the board I'm taking out the sales thoughts below here. I'm buying their cell stops. And little bit of heat here, we rally. And I mentioned |
| 25 | 00:05:08,760 --> 00:05:20,070 | that we would start going higher now because we've cleared out the cell stops. And going over into the one minute chart with a bit more detail. Here's the |
| 26 | 00:05:20,070 --> 00:05:27,570 | initial drop. Now here's what I want to bring to your attention. We had a short term little shift in market structure here. And I know some of you see this. And |
| 27 | 00:05:27,570 --> 00:05:35,310 | then you see this one here, which was the shift in market structure, while I'm playing the run up here to a premium, like I was mentioning on my Twitter feed |
| 28 | 00:05:35,310 --> 00:05:43,980 | this morning. So if this is the range I'm working within the shift in market structure occurs here when it takes out that high drops down into a fair value |
| 29 | 00:05:43,980 --> 00:05:51,030 | got which is what I bought. I didn't believe we were going to take out the lows here because we should have done it at 830 News it didn't do it. So this is deep |
| 30 | 00:05:51,030 --> 00:06:02,250 | retracement, and then send it hired go into a premium right before 9:30am. And then they sank it down. Notice there's no model entry here. That's telling, |
| 31 | 00:06:02,700 --> 00:06:10,290 | okay, it's tipping his hand to you. Because there's no real setup and it's a rush to get down here. It's clearing out sell sell liquidity, going down, |
| 32 | 00:06:10,980 --> 00:06:22,080 | rallying suffering in Long's trying to pick the bottom, knocking those individuals out. Now, they're not allowed to be long, their stops taken. Nobody |
| 33 | 00:06:22,140 --> 00:06:32,880 | in retail usually will take a reentry after something like that they're afraid. It rallies up, comes down to a fair value got shifted market structure here, |
| 34 | 00:06:33,210 --> 00:06:43,140 | rallies relative equal highs, drops back down in fair value got order block rallies once more, goes into the imbalance here consolidates bumps up just above |
| 35 | 00:06:43,140 --> 00:06:56,130 | the short term high here, then drops one more time clearing the liquidity out here. And you see my entry was 41 twine on five contracts. And again, here is |
| 36 | 00:06:56,130 --> 00:07:10,020 | the tweet. Okay, and I'll have the link posted in the description below this video. So you can click and see if it was time and date stamp. Exactly as you |
| 37 | 00:07:10,020 --> 00:07:23,430 | see it here. Alright, so it says salsa liquidities, taken free to run to 4143 and a half. That's this level here while I was here. So continue on. First |
| 38 | 00:07:23,430 --> 00:07:35,220 | partial, which is when I tweeted, you can see that in the timeline this morning. Three contracts were sold at 4139 and a quarter. And finally, the final two are |
| 39 | 00:07:35,220 --> 00:07:45,120 | filled on a limit order at 4143 and three quarters and ultimately wrote a little bit higher, which was fine. I was juggling a lot of administrative tasks this |
| 40 | 00:07:45,120 --> 00:07:58,500 | morning. But nonetheless, you can see all the trades are here in here. So was it a lot? No. But, you know, hopefully you guys learn something today. We have a |
| 41 | 00:07:58,500 --> 00:08:09,510 | nonfarm payroll scenario this week, it's first week of the month, transitioning from one month into another. And I typically like to have all my training done |
| 42 | 00:08:09,510 --> 00:08:19,590 | by Wednesday. And because I've done what I've shown here today, I'm satisfied with this particular week. Now some of you're going to be like, This is crazy. |
| 43 | 00:08:19,650 --> 00:08:29,820 | You have Wednesday, still you have Thursday, still, yeah, Friday. You're welcome to do that. But I have to be disciplined. And being consistent. How you get |
| 44 | 00:08:29,820 --> 00:08:39,570 | there is having roles, roles and engagement. So you're welcome to practice. But I'm not trying to hunt anything more this week, because frankly, can go either |
| 45 | 00:08:39,570 --> 00:08:49,350 | direction. It can go higher or lower based on that daily chart. So because I don't have a clear, definitive objective. I'm gonna sit on my hands and just be |
| 46 | 00:08:49,350 --> 00:08:56,490 | content with what I've shown you all here today. And that's going to be it for this week. I'm going to be finishing up with my private group. I have a lot of |
| 47 | 00:08:56,490 --> 00:09:06,930 | things I have to fulfil for them. And it means I'll be quiet on Twitter and I'll be quiet on YouTube until Thursday. I'll put another video up on Thursday |
| 48 | 00:09:06,930 --> 00:09:10,680 | evening. And until then, be safe. |