ICT YT - 2022-09-02 - ICT Emini SP500 AM and PM Session Review - 090122.srt
Last modified by Drunk Monkey on 2022-09-02 12:25
| 1 | 00:00:00,000 --> 00:00:15,480 | ICT: All right, folks, welcome back. So we're gonna do a little bit of a quick summary and recap. Try these brief as I possibly can. Alright, so we are looking |
| 2 | 00:00:15,480 --> 00:00:27,360 | at the daily chart, the E Mini s&p futures contract for September, small little gap in the here with this low. Okay, we'll come back in a moment. But notice how |
| 3 | 00:00:27,360 --> 00:00:37,800 | we ran up to the area I mentioned, we would likely trade to when we were in here in the volume and bounce traded up to that level there. We broke down in all |
| 4 | 00:00:37,800 --> 00:00:52,290 | honesty here, made public record of 40 ad being my objective, and then I gave the last week's low the week. And let you guys go through that and find it on |
| 5 | 00:00:52,290 --> 00:01:09,030 | Twitter. But it broke lower. And today, we opened traded down, cleared to sell south of quarter two here. repriced close in this fair value gap here. So the |
| 6 | 00:01:09,030 --> 00:01:19,800 | buy side, imbalanced sell side inefficiency, what was missing in this range between this high and that low sellside. It offered it today. This low here, |
| 7 | 00:01:19,950 --> 00:01:29,700 | that is the 3913 and a quarter level, you watched me mention in the recording from this morning session. Again, I'll link the short little vignette video for |
| 8 | 00:01:29,700 --> 00:01:47,880 | my Twitter feed in the description. So here is that fair Vega here at the lower gap here is the high the gap and here is that old low 3913 and a quarter. So we |
| 9 | 00:01:47,880 --> 00:02:02,520 | have market trade up into very get here. Once more. This to me is important going forward. I don't know if we'll see that obviously, before we close the |
| 10 | 00:02:02,520 --> 00:02:10,830 | week out. But I think that might be an interesting draw on liquidity going into next week. If we don't obviously make a run for it sooner which really in my |
| 11 | 00:02:10,860 --> 00:02:21,600 | mind doesn't seem likely. But hey, anything can happen folks, anything can happen. But the market dropped create a small little consolidation relative |
| 12 | 00:02:21,600 --> 00:02:33,090 | equal lows or sell side below that finding support at that old for have a gap high that broke lower trading down below 39 09 50 level which is a low that fair |
| 13 | 00:02:33,090 --> 00:02:43,470 | value gap on the daily chart and clearing that 3913 and a quarter level which is the current level here. And ultimately having a reversal day going into a run on |
| 14 | 00:02:43,470 --> 00:02:56,610 | this high here. And back to this old area of overflow 15 minute timeframe waterblock here's your dealing range from high to low and the 15 minute |
| 15 | 00:02:56,610 --> 00:03:07,770 | timeframe consolidation we broke above it cleared by side here and then see this area here which is institutional overflow entry drill, you'll learn about that |
| 16 | 00:03:08,700 --> 00:03:22,410 | the market drops closes in the fair value gap and below 3913 and a quarter level and ahead of noon. Had a little bit of consolidation here once more afternoon |
| 17 | 00:03:23,220 --> 00:03:34,140 | lunch hour we broke lower again turned into the waterblock rally higher Faraday got here humilated again at the high of the fare bag up on the daily chart 3922 |
| 18 | 00:03:34,140 --> 00:03:47,820 | and a quarter rallies to the old area back here and above this Hi there include 50 and that was it for the day I had something to take care of later in |
| 19 | 00:03:47,820 --> 00:03:54,990 | afternoon so I wasn't able to trade the three o'clock hour setup which was in here which I'll show you when we get into lower timeframe ultimately trading |
| 20 | 00:03:54,990 --> 00:04:06,540 | right to perfectly the order block here. I got a close candle opening why the opening? Why not the Well Michael, we have a wick. So whenever we have that is a |
| 21 | 00:04:07,710 --> 00:04:17,550 | immediate draw your eye to the body of the candle. And that's why you got that precision delivery there. Don't worry it'll be in my books. Alright, so we have |
| 22 | 00:04:17,550 --> 00:04:30,990 | the afternoon session. This high in this high note that 3930 levels this high here and the 3929 and a half level is this high here. Okay, and then we other |
| 23 | 00:04:30,990 --> 00:04:41,010 | levels. What we've noted from the morning session Alright, five minute time frame, get through this little bit quicker. We have a swing low here. Now why |
| 24 | 00:04:41,010 --> 00:04:49,290 | not this one because this one was the actual pump right into it. You can be aggressive with that. It draws up into that my private group knows exactly what |
| 25 | 00:04:49,290 --> 00:05:03,390 | this is. Bounce price range. Institutional Orpha interview sells off. Short term low. That's where the market structure shift Are there and we see a trade off |
| 26 | 00:05:03,390 --> 00:05:04,110 | into it there, |
| 27 | 00:05:04,140 --> 00:05:12,120 | I was not in front of my charts at the time, you can see there is no errors there, I couldn't enter, I wasn't in front of it. I was waiting, going into the |
| 28 | 00:05:12,120 --> 00:05:22,380 | 930, opening the trade up into it here. And here and here. And here and right on this candle here, I felt that we had hit it. And we should have moved lower the |
| 29 | 00:05:22,380 --> 00:05:32,160 | next candle, we had 10 o'clock news. So I had a little bit of a heat on that, but not much. The high here I mentioned in my commentary that high should stay |
| 30 | 00:05:32,160 --> 00:05:44,250 | intact. Why? Because we had a swing high here, after a filling that everybody got also with all this movement lower, lots of liquidity below here. And then |
| 31 | 00:05:44,250 --> 00:05:56,460 | that daily, low, that orange level at 3913 and a quarter level. That was a drain on liquidity. I did not have these levels outlined here. But it was all my other |
| 32 | 00:05:56,460 --> 00:06:03,270 | timeframes. I'm just drawing your attention to it. And I mentioned it in passing in Twitter when someone's asking you how to come up with a bias. It's their cell |
| 33 | 00:06:03,270 --> 00:06:14,040 | site below here in Fairbanks. So I sold short and sold short once more, but not at the highest high. It was lower in that candle, you'll see it draws down below |
| 34 | 00:06:14,040 --> 00:06:22,830 | the lows, I took a partial and then another partial. And then when it went below three 913 and a quarter, I closed the final portion. Right before this run up. |
| 35 | 00:06:23,190 --> 00:06:33,780 | We'll get into this here, because that is an ICT human error that I tried to finesse and I'll explain that. Alright, so here's that high on gave you on the |
| 36 | 00:06:33,780 --> 00:06:42,750 | chart. Ashley, what do you see this right here, this was a drawl and liquidity. Okay. In other words, if we trade down to these levels here, close all this in |
| 37 | 00:06:43,350 --> 00:06:51,960 | and we have a shift in market structure, the market is going to want to come back up to this level here why Persian river intraday version of it. So we |
| 38 | 00:06:51,960 --> 00:07:00,330 | weren't bound below fair value gap and below the old low. You seen that here. And I'll I'll get into this in a moment. But here's the entries, not the |
| 39 | 00:07:00,330 --> 00:07:11,040 | entries. But here's the swing high, swing high, and swing high. There's three of them here. So that is the intermediate term price high. And the market breaks |
| 40 | 00:07:11,040 --> 00:07:25,560 | lower. This movement here, right here. After the news now listen, after the news, we have this drop down. The imbalance exists in this one. So that makes |
| 41 | 00:07:25,560 --> 00:07:35,490 | this and me a term high. So the return back in here while I did not take it in, you see this in the recording of me engaging here. It goes right into there and |
| 42 | 00:07:35,490 --> 00:07:45,270 | completely taps the fear of a get high again, perfectly folks, that's algorithmic, okay, that's the harmonic. It's not supply and demand. Small little |
| 43 | 00:07:45,270 --> 00:07:59,490 | retracement up in bearish order block these last two up close candles, sells off. Trades below the low here. Now ahead of lunch hour, I had to step away from |
| 44 | 00:07:59,490 --> 00:08:09,000 | my charts. And I saw this fair Vega. So what I was thinking was, when we were up here, if it drops that down here, I'm thinking it's going to probably do that |
| 45 | 00:08:09,000 --> 00:08:15,930 | after lunch or towards the tail end of lunch. So around one o'clock in afternoon, it should drop down into here. If I'm in front of the charts, I would |
| 46 | 00:08:16,260 --> 00:08:22,110 | obviously do something differently. But I didn't want to miss it. Because obviously he wanted to show you something pertaining to that high back here. |
| 47 | 00:08:23,040 --> 00:08:33,120 | Well, the limit order I placed on it filled me when I got back to the charts here. I was like, Okay, it's potentially offering another opportunity in here. |
| 48 | 00:08:33,120 --> 00:08:44,340 | I'm going to buy some more of it. And I'm going to take my exit here. Why was I thinking that because we had this low in this low here. And when we dropped down |
| 49 | 00:08:45,270 --> 00:08:57,540 | into the order block here, I bought one more time I realized that I was already offside, too, I was too soon with entering why? Because I felt that this low was |
| 50 | 00:08:57,540 --> 00:09:06,930 | going to hold and this low was going to hold and it didn't go below it. And this is that low end of that fair value gap on the daily chart. So this was a |
| 51 | 00:09:06,930 --> 00:09:13,590 | premature entry. And I tried to finesse it because I was thinking, Okay, if it could just pop up into here or get really close to it. I'll move to the |
| 52 | 00:09:13,590 --> 00:09:21,450 | sidelines. And then I'll watch and see these relative equal lows taken out and I'll take that trade later on in the afternoon. Well, I was able to get out |
| 53 | 00:09:21,450 --> 00:09:32,130 | obviously here. But the point is, this was a limit order feeling too soon. This is the problem with entering your limit orders right before or at the beginning |
| 54 | 00:09:32,130 --> 00:09:47,070 | of the lunch hour noon to 1pm New York local time. Sometimes price can come down or up in deference to a sell limit order. It can fill you prematurely. And I |
| 55 | 00:09:47,070 --> 00:09:53,640 | knew this going in but I wanted to obviously have something to show you in that session. But this simply couldn't be in front of the charts of the time so it |
| 56 | 00:09:53,640 --> 00:09:58,440 | filled it and then I tried to finesse a little bit here to get something out of it before |
| 57 | 00:10:00,000 --> 00:10:11,370 | We ran below here. Okay, I felt that we were going to stay above this low we did. But this was simply me trying to work out a premature entry. That's all |
| 58 | 00:10:11,370 --> 00:10:21,780 | that was. And you can see the excess here. Now, zoomed in again. Alright, so you can see again, here's the fair a gap with a limit order filling on this candle |
| 59 | 00:10:21,780 --> 00:10:35,130 | here, as it drops into midpoint of this low this high. That candle right here fills it. And then coming back in. I was looking at this as all these movements |
| 60 | 00:10:35,160 --> 00:10:45,690 | lower, and back into this fair pay gap there. I was looking to go long on that, and had a little bit more retracement that I was wanting to see, obviously. But |
| 61 | 00:10:45,690 --> 00:10:55,830 | I was trying, like I said, trying to finesse, a run potentially towards this fair value gap. I didn't need it really to go up there, all I was wanting to do |
| 62 | 00:10:55,830 --> 00:11:07,560 | is see if we can get close to this high. And then everything I put on would have been covering costs and just a little bit of fluff for the for the trade. I got |
| 63 | 00:11:07,560 --> 00:11:17,790 | out here, it did trade up to the fair value gap. But again, we want to see it go up one more time on this candle, but it quickly came back in. So the next candle |
| 64 | 00:11:17,790 --> 00:11:26,520 | does Okay, I'm gonna close it here and be content with it. In hindsight, it was a better hold if I would have held on to it. But that's okay, it's during the |
| 65 | 00:11:26,520 --> 00:11:37,170 | lunch hour. So I had to work during the lunch hour at the beginning of it first couple minutes of it to work myself out of the New York lunch. Price delivery. |
| 66 | 00:11:38,460 --> 00:11:47,700 | So we had a short term shift in market structure here, fair value got a break slow or one more time and so fair that I got here, then attacks this year. Now |
| 67 | 00:11:47,700 --> 00:11:55,170 | think about what's occurring, you've traded down into the fair value gap, these two blue lines here and below that oh low that orange line on the daily chart. |
| 68 | 00:11:55,260 --> 00:12:04,380 | So those levels from the daily chart are being transposed over to this one minute chart. This is not noise folks. Okay, this is the market trading back |
| 69 | 00:12:04,380 --> 00:12:13,350 | down in outside of the fair value gap below the relative equal lows, but we had this low and a lower low. So stops have already been ran down here and is very |
| 70 | 00:12:13,350 --> 00:12:24,030 | deep discount below the fair value got low, below that old low. So when the market trades down here, that's what I was afraid of here. These lows being |
| 71 | 00:12:24,030 --> 00:12:33,330 | taken, because if it's gonna go below these lows here, like this, and goes deeper, it could blow up that loan. Obviously, I could be wrong if you lower |
| 72 | 00:12:33,330 --> 00:12:43,290 | right. So I'm thinking here, these are potentially gonna be relative equal lows. So I don't want to hold on to that because we have the whole hour between 12 and |
| 73 | 00:12:43,290 --> 00:12:58,200 | one. And here's the end of lunch hour here. And at one o'clock, what happens we had the market trade higher. Fair value gap. market trades up into the 3938 |
| 74 | 00:12:58,200 --> 00:13:09,030 | level, which is not shown on this chart here. But we have buyside resting here it trades above that. So we're gonna go into the details on the afternoon at two |
| 75 | 00:13:09,030 --> 00:13:19,860 | o'clock. Mark trades down into that 3922 and a quarter level. That's the high of the fair value gap on the daily chart. You trade down into it, then we have |
| 76 | 00:13:19,860 --> 00:13:35,220 | displacement. Short term swing high broken if you're a get trades down into it long stop below this low. Right here. We had head stops taken here. There's no |
| 77 | 00:13:35,220 --> 00:13:43,290 | reason for me to think there's going to go below that. If it does. That's fine. I'll just wait for a later entry if it's another one that can take the market |
| 78 | 00:13:43,290 --> 00:13:52,920 | rallies I think a partial a partial and you can see that actually occurring in the short little vignette market drops back down into small little fair value |
| 79 | 00:13:52,920 --> 00:14:04,680 | gap here. Rallies consolidates around that 3947 and three quarters level. Again, that's seen when we were looking at the hourly chart and 15 minute timeframe |
| 80 | 00:14:05,850 --> 00:14:17,850 | trades lower fair value got here overshoots it doesn't quite go below this is a little muddy in my opinion. But I would have been interested in take a trade on |
| 81 | 00:14:17,850 --> 00:14:28,410 | this fair pay gap here which I did not you can see is this little I had here but we have a short term shift in market structure here fair value gap dropping down |
| 82 | 00:14:28,410 --> 00:14:43,590 | in for the last hour of trading and here's that 333 45 window where the market on closed algorithm runs and we see it trade into it here. One more time turning |
| 83 | 00:14:43,590 --> 00:14:55,500 | in accelerates into that fifth minute timeframe. Bearish order block trades right to the to the point to the tick. Okay, it can't get any better than that |
| 84 | 00:14:55,500 --> 00:14:55,890 | folks |
| 85 | 00:14:56,040 --> 00:15:07,530 | can't improve upon perfection. The market goes into a sloppy little right range within the range of the high here in this low. So I found this one insightful. |
| 86 | 00:15:07,980 --> 00:15:16,440 | And I'm going to try to do my best to come up with an approach to do this in the morning session, because this is obviously both morning and afternoon, am and pm |
| 87 | 00:15:16,440 --> 00:15:27,660 | session. So I don't want it to be this long. And I don't think I can do them together like this and keep them short. So the idea I've tossed out on Twitter, |
| 88 | 00:15:28,200 --> 00:15:36,120 | and you can support the idea with the thumbs up on this video. If you don't like it, obviously, then what really won't matter, because I'm sure there's gonna be |
| 89 | 00:15:36,120 --> 00:15:44,220 | a lot of people that want to do it. And I kind of want to do it anyway. I've been putting up core content from the mentorship so that way you can study that. |
| 90 | 00:15:44,220 --> 00:15:54,780 | And that's the language of what I teach. It's not mentorship, okay, but it is the videos that I use as prerequisites for my private group. So that way, they |
| 91 | 00:15:54,780 --> 00:16:04,410 | understood what I was talking about. And that way, it kind of frees me up to be who I really am out here on YouTube and talk openly to the degree that I want to |
| 92 | 00:16:04,410 --> 00:16:15,240 | talk. Okay, I'm not going to go into every detail on every facet of the algorithm, because it's not necessary ever to give it enough. But I want to kind |
| 93 | 00:16:15,240 --> 00:16:24,390 | of go into short little reviews on the morning session in the afternoon session. And I believe I can probably get them at around five minutes, average length of |
| 94 | 00:16:24,390 --> 00:16:35,460 | time. So I'm trying to come up with a format where, what time, I'll have them done, and what type of procedure do I want to go with? So that way, it's always |
| 95 | 00:16:35,460 --> 00:16:42,510 | the same thing. You know what to expect, you can test yourself, you know, compare and contrast your notes. If I've taken a trade obviously, you can see |
| 96 | 00:16:42,510 --> 00:16:54,390 | I've pushed the button here a couple of times today. You can test yourself in regards to that. Okay, and we'll compare and contrast our notes each day, to |
| 97 | 00:16:54,390 --> 00:17:04,980 | videos to short little videos that would hopefully help you in your pursuit of understanding price action as I teach it. So until next time, now for our |
| 98 | 00:17:04,980 --> 00:17:08,190 | payroll tomorrow. Don't trade it. Be safe. |