ICT YT - 2023-01-10 - ICT Forex Review - January 09 2023
Last modified by Drunk Monkey on 2023-09-26 13:36
Outline
00:05 - Daily chart of the dollar index.
01:47 - New York Open Kill Zone.
03:19 - Daily chart of the levels I gave you.
04:44 - The London Open Kill Zone -.
06:01 - What is the fulcrum point when price runs through?
Transcription
| 1 | 00:00:05 --> 00:00:12 | ICT: Alright folks, welcome back. This is a short little video on forex, I promise not to keep it too long. We are looking at daily chart of the dollar |
| 2 | 00:00:12 --> 00:00:24 | index and I shared some charts on Twitter and give me some levels. And that's what we had. And you can see we do in fact, trade down into the sell side |
| 3 | 00:00:24 --> 00:00:35 | liquidity into our fear of a gap in the form of bias and imbalance outside an efficiency busy. So that's where our levels are, everything will be linked to |
| 4 | 00:00:35 --> 00:00:50 | this logic on the daily chart. hourly chart here you can see opening price on this candle here for the ninth of September 2023. South Dakota repo relatively |
| 5 | 00:00:50 --> 00:01:04 | koulos the markets going to open rally up sell off down into our fair value get one of the Chart All right on the 15 minute time frame, you can see by self |
| 6 | 00:01:04 --> 00:01:14 | recorded here sell side liquidity here during the London session. Okay, so midnight opening candle right there opening prices extended through if we're |
| 7 | 00:01:14 --> 00:01:25 | bearish or looking for lower prices that mean is a risk on scenario and dollar if it rallies it will take out by side or trade into an inefficiency in the form |
| 8 | 00:01:25 --> 00:01:35 | of SEBI or fear a gap market trades about takes up eyesight liquidity attacks the sell side liquidity here New York open kill zone which is seven o'clock to |
| 9 | 00:01:35 --> 00:01:44 | nine o'clock in the morning, New York local time. See we had a drop in here we'll take a better look at that when we get into the five minute chart next. We |
| 10 | 00:01:44 --> 00:01:54 | had a really nice Sivvi here so sad, unbalanced bison inefficiency. Notice that this line here is that old relatively cool on a daily chart. Then we have it |
| 11 | 00:01:54 --> 00:02:02 | here as well. The retracement does not come back up to the daily old lows and does not come back up to the old lows here. So support resistance. This is why I |
| 12 | 00:02:02 --> 00:02:13 | don't like it. It fails. But if you take my Sibi start and bounce it button efficiency here it trades up to consequent encroachment which is the midpoint of |
| 13 | 00:02:13 --> 00:02:24 | that okay, this is a gap and trades up into that fails to make a return to old daily lows and old equal lows over here. So this is where you would expect the |
| 14 | 00:02:24 --> 00:02:35 | algorithm to kick in. It does sales off trade into the daily fare you get on Dollar Index and it closes the session making the low the day when you know it |
| 15 | 00:02:35 --> 00:02:51 | right at the end at noon. London close kills a five minute chart. Here's that New York open kill zone starts the day here breaks down from high to low short |
| 16 | 00:02:51 --> 00:03:01 | term shift in market structure. Everybody got what is that folks? That is your model from the 2022 mentorship right here on this YouTube channel. Sal shorten |
| 17 | 00:03:01 --> 00:03:11 | here stop above this high here let it rip relatively close to daily sell sell the Call Report is this level here. And then the fair value gap down here and |
| 18 | 00:03:11 --> 00:03:23 | where does it turn again at noon exactly how I teach you in the core content and on this channel. Moving on over to Euro dollars or daily chart hearings of the |
| 19 | 00:03:23 --> 00:03:31 | levels I gave you on Twitter if you're following along on there I suggest you do that because otherwise these videos are going to seem a little disjointed. So we |
| 20 | 00:03:31 --> 00:03:46 | have Basilicata here an old high back here we're looking for that as well. And a very gap right here it's changed up into and then we consolidated intraday in |
| 21 | 00:03:46 --> 00:04:03 | rallied up into our batch of liquidity pool there here is the hourly chart you can see our order block here on the eighth drop down into that rallies away |
| 22 | 00:04:03 --> 00:04:13 | that's the extent of what we're going to refer to it over here. So prior to all this consolidation, this down closed candle the opening price extended through |
| 23 | 00:04:14 --> 00:04:25 | and see the market starts to respect that and rally more specifically on the 15 minute timeframe Eurodollar had a sell sell a call report here but if you had |
| 24 | 00:04:25 --> 00:04:33 | this one not this one don't be discouraged because either one's correct but I like this one because my I jumped right to these levels where candles get real |
| 25 | 00:04:33 --> 00:04:41 | close to being equal. Whether it be the highs or the lows. My mind is goes right there over time training with me you'll you'll adopt that same skill set and |
| 26 | 00:04:41 --> 00:04:53 | it'll just be like second nature. So the market drops down in London Open rallies back up, ticks out by sight expands small little retracement in and |
| 27 | 00:04:53 --> 00:05:04 | rallies up creating the high up here. We're looking at on a five minute chart had the London Open kill zone. Two o'clock to five o'clock in the morning, New |
| 28 | 00:05:04 --> 00:05:17 | York local time. Southside taken rallies up into 7am, beginning of New York open kill zone. Okay, that's this little rectangle here highlights exactly when I'm |
| 29 | 00:05:17 --> 00:05:26 | looking for our setup. The form in forex, for the New York session, between this period here in here is what I'm looking for a setup in LA Nova. And this is what |
| 30 | 00:05:26 --> 00:05:34 | I'm expecting the day to be completed. Okay, so the daily range high or low, should be forming, if it's going to be a trending day. If it's bullish, |
| 31 | 00:05:34 --> 00:05:42 | generally between 10 o'clock and noon, New York local time, is going to create the opposite end of the range. So if we're looking for the low forum in London, |
| 32 | 00:05:42 --> 00:05:51 | which is exactly how I teach you on this channel, here's your low today for me. If we're bearish on dollar, it means we're bullish on euro dollar. We run up |
| 33 | 00:05:51 --> 00:06:01 | small little while I'm imbalance in here trades down to that with a bullish order block. Right there. Rallies retraces back down into order block as well. |
| 34 | 00:06:01 --> 00:06:10 | ramps up through Beisa liquidity and this little exclamation point is for me to remind you that if you take your Fibonacci anchored to this low up to this high |
| 35 | 00:06:10 --> 00:06:26 | and use a 1.5 standard deviation, okay, how do you do that on your fifth, just go to your fib settings and put in 1.5. And then, when you drop this on this |
| 36 | 00:06:27 --> 00:06:36 | price one here, you'll get exactly the closing prices in here, you will get the wicks, which will be the closing prices and time. So we have time, which is |
| 37 | 00:06:36 --> 00:06:46 | nothing close 10 o'clock to noon, New York local time. And then price, which is this fulcrum point when price runs through that we don't know if it's going to |
| 38 | 00:06:46 --> 00:06:56 | go up there yet, until it takes out this high. And when it does, we start doing standard projections on our Fibonacci which is going to be standard deviation, |
| 39 | 00:06:57 --> 00:07:08 | one 1.52253 3.5 and so on until it would meet a time window like the kill zone here. So I want you to study how the lower there was formed in London Open kill |
| 40 | 00:07:08 --> 00:07:18 | zone as I teach the continuation in New York open kill zone and in the higher days forming in London close and your homework assignment is to get to that |
| 41 | 00:07:19 --> 00:07:27 | closing price rate here and the opening price with your fear between this low and a high measuring that in your projections will take you right up into that |
| 42 | 00:07:28 --> 00:07:37 | right there. And that's going to be for today. I'll touch base with you later in the week. It won't be every day. As I mentioned, I'm doing a slow rollout with |
| 43 | 00:07:37 --> 00:07:43 | the Forex but we will be daily every day starting off and race out. Until next time. Be safe |