ICT YT - 2022-07-06 - ICT Index Futures PM Session Review - July 05 2022
Last modified by Drunk Monkey on 2022-07-09 07:15
| 1 | 00:00:03,570 --> 00:00:17,970 | ICT: Are folks welcome back. So we're gonna do a quick review on the index futures market for July 5 2020. s&p September contract 2022. The contract on the |
| 2 | 00:00:17,970 --> 00:00:29,400 | left hand side, NASDAQ September 2022, contract on the right hand side, both daily charts. We have this imbalance in here that we reached up into today, both |
| 3 | 00:00:29,610 --> 00:00:37,080 | respectively. And NASDAQ was a little bit more overzealous on the upside. And I'll talk a little bit about why I was engaging that one today. The first I'm |
| 4 | 00:00:37,080 --> 00:00:51,030 | gonna take your attention or to produce these low and today's low on s&p and the previous day's low here on NASDAQ versus today's low. So anything different |
| 5 | 00:00:51,030 --> 00:01:03,750 | there? If not, we'll make a little bit clearer as we drop in lower timeframes. Alright, so here is the hourly chart on the left hand side on s&p, and NASDAQ |
| 6 | 00:01:03,780 --> 00:01:21,900 | hourly chart on the right. Here's that low and low here. low, lower low, low, higher low as teep divergence. The relative strength leader on the upside is |
| 7 | 00:01:21,960 --> 00:01:37,110 | NASDAQ as a result, because it fails to make a lower low comparably to that of the s&p this morning on Twitter, while we are trading right here, and thank you, |
| 8 | 00:01:37,110 --> 00:01:47,370 | for those who sent me tips on trading you this is one actually and I apologize, the gentleman told me about this on Twitter, and I believe he's a member in my |
| 9 | 00:01:47,370 --> 00:01:58,230 | private group. I just cannot remember who exactly it is. You know who you are, you were actually giving me some pointers about the server and such, but I feel |
| 10 | 00:01:58,230 --> 00:02:07,170 | like me, I'm sorry, so many students. And please don't be offended. But the gentleman told me that you can copy and paste the links from Twitter and throw |
| 11 | 00:02:07,170 --> 00:02:15,720 | it right on the chart exactly what it was sent to Twitter. So you can see that here. I was saying where it sells high on the 15 minute timeframe. Here's within |
| 12 | 00:02:15,720 --> 00:02:24,030 | that timeframe, right in here. Okay, so this low and this low in here. There's your sell side, both were tagged here. And we'll look at that. We'll look at |
| 13 | 00:02:24,030 --> 00:02:33,150 | this right here in the moment. But this is the respective low for NASDAQ notice it did not make its way to it or below it. It does so here Oh, but it's only so |
| 14 | 00:02:33,150 --> 00:02:42,180 | little ICT. It's all it matters. The logic is we were looking for sell side, where's that dropping down to here. Then once it gets down to that level, we |
| 15 | 00:02:42,180 --> 00:02:52,080 | wait for some kind of continuation or a rejection, some kind of storyline narrative to suggest that maybe this isn't likely to keep going lower. And we |
| 16 | 00:02:52,080 --> 00:03:02,280 | have that here. s&p makes lower low. NASDAQ says no, I don't want to go any lower. So we have a s&p divergence, the stronger one to the upside, relative |
| 17 | 00:03:02,280 --> 00:03:12,120 | strength leader, not the indicator relative strength relative to what the price action s&p, NASDAQ failed to make a lower low. So NASDAQ would be the comparable |
| 18 | 00:03:12,120 --> 00:03:25,560 | relative strength leader to the upside. Alright, so we have these lows here. 939 45 and 10 o'clock respectively. Here 939 4510 o'clock, we have another s&p |
| 19 | 00:03:25,560 --> 00:03:36,540 | divergence. Okay, so we have two s&p divergence, the major 15 minute low. And then we have all the individual candles here. Okay, look at it on your chart, |
| 20 | 00:03:36,540 --> 00:03:47,400 | don't just look at mine and be content with that. Look at them. When yours in logged in with your own charts and gentlemen, the market rallies up, comes back |
| 21 | 00:03:47,400 --> 00:03:55,650 | retraces and starts working towards a higher high throughout lunch. This isn't an imbalance in here. So we have a fair value gap that drops down into that and |
| 22 | 00:03:55,650 --> 00:04:06,300 | one more time taps here with relative equal lows. So if we have a market that does not want to go lower, has two instances of s&p divergence of like an |
| 23 | 00:04:06,420 --> 00:04:14,910 | accumulation phase, where you can actually see the real accumulation, although that's not like oh, and it starts to run higher. We have a shift in market |
| 24 | 00:04:14,910 --> 00:04:26,430 | structure. Here during lunch, we can't tray we're waiting rallies up and then we wait for 130 in the afternoon. I'm not interested in s&p because the narrative |
| 25 | 00:04:26,430 --> 00:04:36,780 | is is we have a lower low median, s&p but not in NASDAQ. And then we have another divergence failed, make a lower low in NASDAQ there as well. So my |
| 26 | 00:04:36,780 --> 00:04:43,680 | interest as a fee is moved to the sidelines and now my focus is over here. So I get question all the time. How do I know when to change viewers from s&p, the |
| 27 | 00:04:43,680 --> 00:04:45,180 | NASDAQ This is how I do it. |
| 28 | 00:04:47,730 --> 00:04:57,240 | I on the five minute chart you can see I'm not interested so much on the s&p focus again is on NASDAQ. So we have that gap here. The market drops down into |
| 29 | 00:04:57,240 --> 00:05:06,090 | hits it drops one more time in here and inside I this little shaded area, which will make more sense in a couple minutes. That's where I'm buying. Because the |
| 30 | 00:05:06,090 --> 00:05:14,550 | narrative is we've been going higher, we have this relative equal highs, it's going to probably run out and dig up into this imbalance on the daily chart once |
| 31 | 00:05:14,550 --> 00:05:27,270 | more. And during the pm session, which is 130 to four o'clock, New York local time, ESD. So dropping into a one minute chart, you can see that we have these |
| 32 | 00:05:27,270 --> 00:05:35,820 | relative equal lows, what's gonna be resting below that sell sign, we are dipped into the fear of a gap here, rallied up, dropped down to clear out these |
| 33 | 00:05:35,820 --> 00:05:44,280 | relative equal lows there and hit the fairway got once more. I looked at the chart, and by the time I got to the chart had already moved away from this. So |
| 34 | 00:05:44,280 --> 00:05:55,200 | I'm using a close proximity entry. That means I'm using what's already happened. I'm buying it with a understanding that as long as I'm inside this candle here, |
| 35 | 00:05:55,350 --> 00:06:04,980 | I'm not chasing price, because it's already done a run to rebalance, then stops, so there's no reason for this load to be taken out. No reason for it to come |
| 36 | 00:06:04,980 --> 00:06:13,620 | back down into that. So once it's in this area, here, I'm looking at the chart, I'm like, Okay, well, I want to buy. So I'm inside this bullish breaker, what |
| 37 | 00:06:13,620 --> 00:06:24,660 | makes us a breaker, we have a low, high, lower low in a bullish market. So if we go above this high here, I can trade down into that as a long, yes. But I can |
| 38 | 00:06:24,660 --> 00:06:34,320 | also use it without waiting for price to break through. I can accumulate a long position while it's in that last close candle. And that's what I use, because I |
| 39 | 00:06:34,320 --> 00:06:48,750 | didn't get this opportunity out here. And I wasn't able to get this one here. So I'm going in with this expectation there. Alright, so we're going to look at |
| 40 | 00:06:49,080 --> 00:07:07,410 | that moment chart. And see we have the last up close candle here. extended out in time, the low of that candle is 11,683 in three quarters or points. That |
| 41 | 00:07:07,410 --> 00:07:16,890 | right there is my entry. That's the little toggle that shows you exactly where in that candle I went long and the price is 11,684 and three quarters which is |
| 42 | 00:07:16,890 --> 00:07:26,400 | inside, not below this up close candle. So we have low, high lower, low clear sell side in a bullish market, the market should rally up it does. It's showing |
| 43 | 00:07:26,400 --> 00:07:38,730 | a willingness to win a rally. And if I wouldn't have traded it here, I could have done it here. Which would have been low, high, lower low in that breaker |
| 44 | 00:07:38,760 --> 00:07:48,330 | there. Okay, so I'm just using the larger fractal the same pattern with this one here. Don't beat yourself up. If your first time seeing this. Trust me, it's in |
| 45 | 00:07:48,330 --> 00:07:50,130 | the core content of this YouTube channel. |
| 46 | 00:07:51,390 --> 00:08:01,230 | So boasts breaker, I'm going long near a little bit of retracement that I had two points of drawdown and then rallies up. First partial of the 12 contracts |
| 47 | 00:08:01,260 --> 00:08:14,490 | six sold at 11,007 29, half, three more and 1730 and a quarter. One more 11,007 and 45 and three quarters for digging into that shaded area the daily chart. Now |
| 48 | 00:08:14,490 --> 00:08:24,870 | we're trading above the relative equal highs on the hourly chart 11,007 59 and three quarters in one more I closed at 11,007 61 hand and I was expecting some |
| 49 | 00:08:24,870 --> 00:08:33,240 | kind of retracement, I was looking for this area in here. I wasn't expecting to get the drop this far back down. So I'm okay with that. I didn't take any more |
| 50 | 00:08:33,240 --> 00:08:43,560 | trades. But that was me digging into that imbalance on a daily chart. And above the relative equal highs, which makes a market maker bond model that is taught |
| 51 | 00:08:43,590 --> 00:08:52,890 | on this YouTube channel also in the order of lessons. And that my friends is going to be it. I'm going to close this and ask you to go back and look at your |
| 52 | 00:08:52,890 --> 00:09:02,670 | notes. If you've been going through my mentorship here on YouTube. I mentioned in a recent analysis video review, I don't recall exactly what day it is. So |
| 53 | 00:09:02,670 --> 00:09:11,970 | please forgive me in that regard. But I know some of you were very diligent about taking notes. I mentioned gold. And I said that I believe that the dollar |
| 54 | 00:09:11,970 --> 00:09:21,630 | index was bullish, and that would indicate that gold would go lower. And I took your attention to relative equal lows. And if you are so kind enough to go in to |
| 55 | 00:09:21,630 --> 00:09:30,270 | the comment section below this video. let others know what video link they can find what I'm referring to because that way it's not me having to do scrubbing |
| 56 | 00:09:30,270 --> 00:09:38,280 | through the videos. I don't have time for that. But you as the students I'm sure you have very well indexed things in your notes and what video is and what |
| 57 | 00:09:38,280 --> 00:09:47,940 | minute mark and all that where I talked about gold dollar going higher lower prices on gold, where it should sweep for salsa liquidity and take a look at |
| 58 | 00:09:47,940 --> 00:09:55,620 | your gold chart today and see what has happened is the relationship between those two things. And I think that's gonna be it for today. I'll touch base with |
| 59 | 00:09:55,620 --> 00:09:58,260 | you tomorrow, Lord willing until then, be safe. |