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ICT YT - 2022-09-07 - ICT Emini SP500 AM Session Review - 090622.srt

Last modified by Drunk Monkey on 2022-09-08 10:02
1 00:00:05,670 --> 00:00:18,150 ICT: Alright, folks, welcome back. This is our short little am session review for the E Mini s&p. So we're looking at the daily chart, I want you to remind
2 00:00:18,150 --> 00:00:27,930 yourself of how we went to this level here swept, it broke down, return to a city, so sort of balanced by time and efficiency failed, you can go back and
3 00:00:27,930 --> 00:00:43,170 watch the last reviews and talking about that show live, how we were looking for 40 ad and 42 and three quarters and lower prices have reached to and through
4 00:00:43,920 --> 00:00:56,190 this old low. And we're inside this order block. Here, this last enclosed candle has a fair value gap, we have the high and the close of the candle. That's
5 00:00:56,190 --> 00:01:08,190 what's being denoted here. So we've dug into that today, we had relative equal lows here on daily chart, and the market swept down below Monday's holiday
6 00:01:08,190 --> 00:01:23,940 volume. hourly chart, you see the nice little imbalance in here had one two times into the imbalance made a low trade up into the imbalance once more just
7 00:01:23,970 --> 00:01:34,680 taking out the relative equal highs with this here and broke, lower consolidated trade up into the fear of a gap here. I tweeted this this morning said I didn't
8 00:01:34,680 --> 00:01:42,630 have a bias right away. Because I don't want to put anybody out there in harm's way. Because I know a lot of you don't listen, okay, a lot of you just simply
9 00:01:42,630 --> 00:01:51,750 want to jump on the bandwagon and start pushing buttons and you're not even prepared yet, you don't have the experience. And typically days after a holiday
10 00:01:52,860 --> 00:02:05,040 where we have either no trading or shortened trading sessions. The am session or morning session can be problematic. And if you don't have the experience to note
11 00:02:05,280 --> 00:02:13,830 what it is and what's likely not to do and what it is likely to do, you're probably gonna hurt yourself. One losing trade becomes another losing trade
12 00:02:13,980 --> 00:02:23,280 trying to fix it. And then you create a huge amount of drawdown. So this morning, I'd sent a tweet, you're welcome to look at that tweet in my comment
13 00:02:23,280 --> 00:02:35,010 that I have pinned below of this video. And it also be a link to the video where you can actually watch me engage and execute and manage a trade idea based on
14 00:02:35,010 --> 00:02:41,010 what I'm going to show you here. So it's not just me talking about the hindsight, because I know a lot of you young guys out there like to this point
15 00:02:41,010 --> 00:02:53,820 fingers and say it's all hindsight, I push a button every day. So very get we were hovering inside of that, I mentioned that this would be the source of
16 00:02:53,820 --> 00:03:04,470 liquidity pool here in the tweet, I'll let you look at that. And compare and contrast this. So we had a drawn liquidity to sell side, I didn't want to tip my
17 00:03:04,470 --> 00:03:12,270 hand to anyone because I know you're all going to want to try to chase it do something. And I would not want that on my conscience that you tried to engage
18 00:03:12,270 --> 00:03:21,300 on day after holiday and and get hurt. So just to prove again, authorship and such, you know, engage the based on what I'm going to show you, there's a small
19 00:03:21,300 --> 00:03:32,550 little fear of a gap in here. See that right there. market trades up into that, and then sells off. That's a little interesting in prototype setup, and the way
20 00:03:32,550 --> 00:03:42,090 that would be utilized as entering here at the fair value got low, that mean over here, that's the fairway gap high. Trade down once more to get below this
21 00:03:42,090 --> 00:03:52,440 old low. We don't need to go below this log in to find a bread and butter type setup. I was short in here on this big run down here. And I was looking at the
22 00:03:52,440 --> 00:04:02,430 break from this old low with the fair value gap to this target. And I use that as my range and I wanted to find something that would be below 50% or
23 00:04:02,430 --> 00:04:15,000 equilibrium between this low or this level right here. And this fair value got low. So from this range here to here, I'm sorry, here. That was the projected
24 00:04:15,000 --> 00:04:24,150 dealing range and I was where I think the markets gonna go. I think it's gonna go not that you should have expected it. And I saw a few tweets from folks that
25 00:04:24,150 --> 00:04:34,530 are belly aching. Here, you did a trade this morning after you told us we shouldn't be taking a trade. I'm trying to be a very responsible mentor. And it
26 00:04:34,530 --> 00:04:45,690 would be highly irresponsible of me for me to suggest again, some of you are most of you. Let's be honest, most of you aren't skilled yet. You're just now
27 00:04:45,690 --> 00:04:56,010 becoming acquainted, to my concepts are even me and to follow anybody blindly on the internet is foolish. You don't even know what I'm doing most of the time. So
28 00:04:56,010 --> 00:05:00,000 why would you go and then press a button with live funds. You have no idea what I'm doing
29 00:05:01,080 --> 00:05:07,050 So you won't understand the logic, you'll be fearful the entire time you're in the trade, because you won't understand what it's doing, and any little
30 00:05:07,050 --> 00:05:15,810 fluctuation against you, which would maybe be normal, you get out of the trade and then miss it, and then blame me for that. So you're here to learn from me.
31 00:05:16,080 --> 00:05:22,020 Okay, once you understand how to do this on your own, trust me, you're not going to need me, you won't need me to hold your hand, you won't need me to point to
32 00:05:22,020 --> 00:05:32,010 examples, you'll be making your own that you have to go through the process, folks. And yes, it takes a little bit of time, and a lot of time for others. But
33 00:05:32,040 --> 00:05:42,840 the range from this fear of a gap low to this old daily low here, and Monday's trading liquidity, okay being here layered to this. So all of this in here was
34 00:05:43,110 --> 00:05:56,670 targeted. So let's zoom in here to a five minute chart, you can see an old low here gets broken. Here, you can see that run right back up into it here. And
35 00:05:56,670 --> 00:06:05,220 then sells off, you have a fair of a gap here that doesn't get traded up into and you'll see me note in the video link below, that takes you to my Twitter, I
36 00:06:05,220 --> 00:06:11,970 was willing to let it trade back up into this, I was not going to change my mind about it, that could have been just one more opportunity for me to enter again,
37 00:06:12,540 --> 00:06:23,610 and had it done. And I would have done that. And then I took the limit order exit for the remaining four contracts. So I went short, six contracts took a
38 00:06:23,610 --> 00:06:34,620 partial. And then again, because this low here in that range here, the blue line, and this thick red line is at the fair value got low. This is the old
39 00:06:34,620 --> 00:06:44,610 daily low, that's your range. If you put a fib on that, between this level in here, find 50%. So when we're going short, the market efficiency paradigm is
40 00:06:45,210 --> 00:06:52,650 suggesting that you as a trader, my student, we're looking for something below equilibrium to target because that's what the algorithm is gonna do. And what is
41 00:06:52,650 --> 00:07:04,140 that this level here is an old low. Go back up one more. Slide, you can see it. That's the first low. And here's the second one. Okay, so that second one is
42 00:07:04,140 --> 00:07:16,290 below 3920. That's the reason why 1318 was being targeted with my limit order. And yes, I did not get all this I'm teaching you low hanging fruit. Teach me how
43 00:07:16,290 --> 00:07:23,160 to get out like, Well, how do I find the setups that are consistent, this is how I'm doing it. Okay, I'm not teaching are promising that you're going to get down
44 00:07:23,160 --> 00:07:31,680 here, even though I pointed that's where it was likely to going to go if it was going to sell off. Before the opening, I didn't know what it was going to do. I
45 00:07:31,680 --> 00:07:42,390 wanted to see how we opened and we had displacement. And obviously that gave me what I was looking for. But we broke below this low here. And that right there
46 00:07:42,390 --> 00:07:52,890 could have been your model returning back to the fair value got low here and into the end, you'll see that whenever you get on the lower timeframe. You can
47 00:07:52,890 --> 00:08:06,750 see from this high, that low 3.5 standard deviation of that range. In other words, what we're saying is this high that low 123. and a half of that range
48 00:08:07,020 --> 00:08:19,860 gives us pretty close to the low of the day. And it's below that old daily low. So there's a matter of blending concepts and such for targeting. Alright, here
49 00:08:19,860 --> 00:08:27,690 is the one minute chart you can see, at 930, we had a Judas swing, if we're looking for lower prices down here, I'm not suggesting that you would have but I
50 00:08:27,690 --> 00:08:40,920 proved today that I was but again not to lead you into scenarios that may get you hurt due to swing runs up, hits the fairway get below this candle right
51 00:08:40,920 --> 00:08:50,010 here. I'm gonna show you the executions you can watch he actually put the executions on in the link below. The market breaks lower. Here I got here, it
52 00:08:50,010 --> 00:08:57,990 doesn't get traded too, I was willing to see it straight up into that once more headed down and I would have entered again, more shorts. And below that low is
53 00:08:57,990 --> 00:09:09,870 where you'll see the target. And here's my entry on that candle. On the way down, I got filled but we were inside of that fairway, you got news here on the
54 00:09:09,870 --> 00:09:10,620 one minute chart.
55 00:09:12,240 --> 00:09:21,840 Partial here, first one took two of the six contracts off there. And then the remaining four came off on a limit order below that old short term low and did
56 00:09:21,840 --> 00:09:32,100 not trade to the draw on liquidity. This is a crucial point, folks don't insist that your target or your draw liquidity is the be all end all objective and you
57 00:09:32,100 --> 00:09:42,420 have to hold for that that is foolish. The whole point of doing this, the whole reason why you should be even in this industry is to make money. That's it. And
58 00:09:42,420 --> 00:09:51,480 there's only one way to make money doing consistent things that yield consistent, positive results. And that's what I'm teaching. That's how I teach
59 00:09:51,480 --> 00:10:00,090 partials. When most of the time clowns in this industry will say partials is stupid because you're putting on an initial risk. And then you're reducing In
60 00:10:00,090 --> 00:10:08,250 the potential profit, these people are not consistently profitable that say that, I guarantee you, they aren't profitable. But folks that learn how to do
61 00:10:08,250 --> 00:10:16,050 this, they're constantly feeding their bottom line. And it's not about doubling their account. It's not about making Lamborghini lifestyle, it's about making
62 00:10:16,050 --> 00:10:26,460 your account grow, and being consistent about doing it. And when you can do these types of things, it's harvesting new equity highs, and that's rewarding,
63 00:10:26,550 --> 00:10:33,480 it's encouraging, and it's motivating. And you're going to need to have that in your journal. Because there's going to be periods where you go into drawdown,
64 00:10:33,510 --> 00:10:42,450 you lose the upside, your equity. And you gotta go back to those times where you can see you had periods of growth. And they will encourage you when the
65 00:10:42,450 --> 00:10:50,790 inevitable comes when you have losing trades or drawdown. So if we take a look again, I'll show you the details here. And you can see this in the video as it
66 00:10:50,790 --> 00:11:02,760 forms and fills such six short at 3940 and a quarter on this candle here. So I missed it as I was going up, I want to try to hit it as it was going up into
67 00:11:02,760 --> 00:11:11,910 that. But I was managing a one minute chart trying to get everything scaled up. So the recording would make sense to everyone. And then the first partial closed
68 00:11:12,000 --> 00:11:27,210 to at market when we were better than 10 handle. So 3940 3930 It's 10 handles or 40 ticks. market breaks lower hits the limit order and the remainder for
69 00:11:27,270 --> 00:11:41,280 contracts comes off at 3918 Even so 22 and a quarter handles. So I gave up all of this for the example of showing you you don't need to be perfect. Until next
70 00:11:41,280 --> 00:11:43,680 time, wish good luck and good trading