Skip to Content

ICT YT - 2023-01-27 - ICT Mentorship ES Market Review - January 26 2023

Last modified by Drunk Monkey on 2023-01-27 06:05

Outline

 

00:15 - Video review of today’s prices.

02:26 - What is the catalyst that causes me to swing from being a trader in the Nasdaq or the E-mini S&P?

07:20 - Rejection Block #1 - The market breaks down.

10:11 - Outline of today’s market.

15:04 - Why are you learning now?

16:57 - How do I know what direction the market is going in?

22:45 - What is a hypothetical stop loss?

24:36 - What level would you like to see the market reach?

29:18 - Michael’s weakest link as a trader.

31:45 - Desensitize yourself to the outcome.

Transcription

1 00:00:15,900 --> 00:00:27,960 ICT: Green bucks, just quick video review of today's price action, I will not be trading tomorrow, I won't be doing much at all really with the markets, having a
2 00:00:27,960 --> 00:00:39,750 three day weekend, if you will, if you watch the analysis video last night, and if you were part of the Twitter engagement that I do every day, pretty much on
3 00:00:39,750 --> 00:00:48,630 Twitter, I'll give you my commentary, I'll point to where the next year on liquidity is, it means where I think the markets gonna go reaching to next. If
4 00:00:48,630 --> 00:00:57,060 there's a fair value gap or donor black, something that's noteworthy at the time, I will call out the very specific candle time. And that way you can enter
5 00:00:57,060 --> 00:01:11,010 your charts live and watch price action, real time with us. Last night, I gave you the analysis for the E Mini s&p Before I go into it. If you take a look at
6 00:01:11,010 --> 00:01:22,950 what has been going on in forex, okay, with Dollar Index, he says sloppy choppy, and Eurodollar and POUND DOLLAR. While overall it's moving higher, like I've
7 00:01:22,950 --> 00:01:32,880 given you earlier in the year and lower on the dollar index. I don't want to be trading those markets because look at the difference between that and what
8 00:01:32,880 --> 00:01:40,860 you're going to see here tonight with stock index futures. I understand that some of you simply want me to talk about forex, because that's what you are
9 00:01:40,860 --> 00:01:49,080 trading right now. I'm not trading it. So when the markets loosen up a little bit, hopefully, there's a little bit more movement and they're more fluid in
10 00:01:49,080 --> 00:01:57,960 their delivery in price. I promise you I will be more active and talking about it. But for the moment. My time and attention is focused on stock index futures
11 00:01:57,960 --> 00:02:08,610 because that's where the cleanest price action, the surest delivery and symmetry is to be found. Forex is not Eric Now, I'm arguing the fact that Forex isn't
12 00:02:08,610 --> 00:02:18,990 gyrating a little bit so it's not as clean, as you're gonna see here today. So I mentioned on last night's review that we were looking for the consequent
13 00:02:18,990 --> 00:02:30,570 encouragement, this candles wick right here. And that price comes in at 4072 in three quarters. The dashed line is going to be an old high formed here. And
14 00:02:30,570 --> 00:02:37,950 we'll drop down lower timeframe now. So I'm skipping over the hourly chart because I want to get right to the heart of the matter here. The 15 and
15 00:02:37,950 --> 00:02:46,470 timeframe is a bellwether chart for me, it means most of everything I'm going to be looking for can be found on this timeframe, relative to weekly and daily
16 00:02:46,470 --> 00:02:54,300 timeframe. So if I understand where my drawn liquidity is, from higher timeframe, daily indoor, what my expansion is going to be for weekly, is it more
17 00:02:54,300 --> 00:03:05,940 likely to expand higher or likely to expand lower back and jump right to the 15 minute timeframe and find everything I need to utilize for a trade idea. So if
18 00:03:05,940 --> 00:03:13,200 you look at the 15 minute time frame for E Mini s&p, that's only thing we're gonna be looking at tonight, you're not looking at NASDAQ. And the reason why is
19 00:03:13,200 --> 00:03:23,640 because I'm focusing primarily on es, I want to show you this year how you can focus just on one market not have to flip flop back and forth between NASDAQ and
20 00:03:23,640 --> 00:03:33,540 es because I get questions all the time from new students or new casual viewers. What is the catalyst that causes me to swing from being a trader in the NASDAQ
21 00:03:33,570 --> 00:03:44,370 or the E Mini s&p, and to remove all that concern, because right now there's bigger fish to fry, you need to figure out how to trade and read price. So if
22 00:03:44,370 --> 00:03:54,900 you're constantly inundated with the confusion, which is going to be the result of you not having experience, if you just stick to one market, it'll be
23 00:03:54,900 --> 00:04:05,370 perfectly fine for you to just not have to worry about one less thing. So just because you see me back and forth, maybe a student and a minor students moving
24 00:04:05,400 --> 00:04:13,980 from one asset class to next one market to the next. They're a little bit more seasoned than you probably are. And it's not a knock against your aptitude as a
25 00:04:13,980 --> 00:04:24,690 student or ability to be a profitable trader, it just means that you just don't have that experience. And over time, you will. So with that said, I want to take
26 00:04:24,690 --> 00:04:35,010 a look at the morning session here. Here's the midnight timeframe. And we'll note that opening price here and you may not see it very clearly. But if you see
27 00:04:35,010 --> 00:04:45,840 that purple line here 1436 and three quarters, I'm annotating that as the midnight opening price right here for the summer 2620 23. So if we're looking
28 00:04:45,840 --> 00:04:55,710 for Long's, as I indicated last night, we would be we're looking for higher prices on the stock indices. The ideal scenario is for the algorithm to reprice
29 00:04:55,710 --> 00:05:08,670 below that midnight price right here. So you see it do it you Here, after 830 says 830, that's our trigger time. So everything starts at that moment. So 830,
30 00:05:08,700 --> 00:05:27,060 and then 930, we dropped down on the 13 timeframe right before we get to 1145, some 1045, that candle we're dropping down, we're attacking an old low, here,
31 00:05:27,810 --> 00:05:41,310 below the opening price at midnight. So this is allowing Smart Money traders to get on board with longs to target this high, and that 4072 and three quarter
32 00:05:41,310 --> 00:05:56,220 level that I gave you last night. So last night, hours, okay, hours before the market would even start trading in our New York local time. Now, here, our focus
33 00:05:56,220 --> 00:06:09,030 was up here at that price level, and I started the day tweeting, on Twitter with my timeframes, keeping this level in view. As a reminder, remember, if you're
34 00:06:09,030 --> 00:06:20,820 watching my videos, and you're not recording things with your notepad, key levels, things, I'm looking for catalysts that may support or negate a scenario
35 00:06:20,820 --> 00:06:27,720 in the marketplace. So it's rare that you're gonna hear me say, if it's going to go up, it's going to go to this level here. But if I'm wrong, it's going to go
36 00:06:27,720 --> 00:06:35,910 down here and go that very rarely will I do that. And I'm admitting before I do something like that at all, when I'm indecisive when I have really no strong
37 00:06:35,910 --> 00:06:47,130 convictions one way or the other. I have strong convictions yesterday and last night, and today during the market session. And we were looking for that 4072
38 00:06:47,130 --> 00:06:58,770 and three quarter level for s&p. The levels that I gave for NASDAQ notice that it did not deliver there. It delivered like gangbusters here on this market. So
39 00:06:58,770 --> 00:07:08,010 I'm not making a case that I picked the right one. So therefore I'm smart. I'm just saying, following one market, I don't care that NASDAQ didn't reach his
40 00:07:08,040 --> 00:07:15,900 objectives. I don't care that the Euro dollar didn't go where I want to go, I don't care that the dollar index didn't go where I wanted to go. This is the
41 00:07:15,900 --> 00:07:26,310 market I'm trading. This is the market I'm dialed in on this is the only thing I'm focusing on right now. And it's more than enough. So that let's take a
42 00:07:26,310 --> 00:07:37,530 closer look. We have a rejection block here. After the market runs up at the nine o'clock hour, we break down one more time it stacks up above the upper most
43 00:07:37,800 --> 00:07:49,140 closing price here. It's a rejection block, it breaks down in the runs below the opening price at midnight over here. Now this move here and you might look at
44 00:07:49,140 --> 00:07:56,340 that on the lower timeframe saying yeah, that's my model. That's my setup. There's nothing wrong with that. Others that are looking to trade on a longer
45 00:07:56,340 --> 00:08:08,040 term timeframe, they can't trade ahead of you news reports in take advantage of the small intraday fluctuations for scalping or day trading. They have to
46 00:08:08,040 --> 00:08:15,180 position themselves on a swing trade. Well, this is how you do it, folks, if we're bullish, and we're looking for a move below the opening price to get an
47 00:08:15,180 --> 00:08:24,810 ideal power three entry. And as a mouthful, but my concept power three is where we're looking for the accumulation, manipulation and distribution phase of the
48 00:08:24,810 --> 00:08:35,400 daily range and or weekly range. But it also can be utilized inside of the sessions, like the morning session in the afternoon session, each one of those
49 00:08:35,430 --> 00:08:48,030 fractals in time, a perspective if you will been framing the price in the context of a specific range of time. Power three is when I'm bullish. I'm
50 00:08:48,030 --> 00:09:00,330 expecting the low to form below a key opening price. And the key opening price for the daily range is midnight, New York time. So we try we drive down below
51 00:09:00,330 --> 00:09:15,030 that into a low low sell side below this low is collected, engaged, why would that be necessary for the market to see that it's going to drop down below there
52 00:09:15,030 --> 00:09:24,720 to absorb all that Southside liquidity and be counterparty to their Smart Money lungs. So they're buying the sell stops here below the opening price at
53 00:09:24,720 --> 00:09:38,730 midnight. So that is where you could have a order. If you are a swing trader or non intraday trader. The way you would do that is you would just have your
54 00:09:39,450 --> 00:09:49,800 alerts set tell you when the market dips below the opening price or gets close to it. If you're bullish, you can put limit orders down there. And then whatever
55 00:09:49,800 --> 00:10:00,000 the high you're aiming for. There should be two of them. The high the day that's formed and then the target you're reaching for as we outlined last night 4072
56 00:10:00,000 --> 00:10:00,870 going three quarters low.
57 00:10:04,050 --> 00:10:14,220 You don't need to be babysitting it, your positions will be very small, probably one contract, or maybe even a micro. And you just let it go. You don't worry
58 00:10:14,220 --> 00:10:23,700 about all the small little fluctuations I'm going to cover now. And what I went through and outline beforehand live on Twitter. So the market drops down after
59 00:10:23,760 --> 00:10:31,980 creating a Faraday gap here, it retraces back into it consequent encroachment, I called this live, outline it framed it and said soon as it hit this level here,
60 00:10:31,980 --> 00:10:43,980 as we'll look at on a one minute chart, I said this is exactly what it should reject. And look for to go lower, and reach for the 4038 level. And that was
61 00:10:43,980 --> 00:11:03,510 this sell side liquidity here. The market drops down, digs into the sell side accumulates, drops back down into your block here rallies, we consolidate this
62 00:11:03,510 --> 00:11:13,650 range here is an hourly imbalance. So this little shaded area, if you find your hourly chart, you'll see that there's a fair value gap there. market rallies,
63 00:11:14,220 --> 00:11:25,470 small vitamin bounce, all sudden efficiency comes down there were shoots that arise again, fair value gap order block trades down to here, and just real
64 00:11:25,470 --> 00:11:34,800 choppy, but still continuously grinds higher, keeps grinding higher. Every time they create a higher high sorry, the breakdown, retail traders were expecting
65 00:11:34,800 --> 00:11:47,940 this thing to break down. And your focus was where I was telling you last night. Look for that 4072 and three quarters level, there's nothing to fight. They
66 00:11:47,940 --> 00:11:55,860 don't want to try to go short against all this because the algorithms this is going to keep on repricing higher. And it'll frustrate you. And you can blow
67 00:11:55,860 --> 00:12:06,240 your account, getting revenge trading, you know, trying to short something like this, and not know what it is you're looking for. And thankfully, you have
68 00:12:06,240 --> 00:12:14,250 somebody has been here for a long time. And I've been around the block a few times, and I'm outlining and showing you and pointing where I believe, with 30
69 00:12:14,250 --> 00:12:22,590 years experience where the market is likely to go to next, doesn't mean I'm perfect doesn't mean I'm gonna be exactly on the money and hitting the mark
70 00:12:22,680 --> 00:12:31,560 every week, every day, throughout the rest of this year. But I think you'll find that it's it's pretty consistent and certainly enough for you to try to do well
71 00:12:31,980 --> 00:12:45,510 on your own once you adopt the skill set. Dropping down to one minute chart, or this shaded little trendline here, okay, that's denoting specific elements of
72 00:12:45,510 --> 00:12:55,350 time. So we're looking at a time window where the market starts trading approximately 930 in the morning. And that shaded area right there that fractal,
73 00:12:56,220 --> 00:13:07,740 that amount of price action. That is all you need to worry about if you're trading in the morning session, just that if you start looking at your chart
74 00:13:07,740 --> 00:13:21,060 like this, framing it out inside that parameter of time 930 to noon, and start looking for inefficiencies where liquidity pools are where they're a shift in
75 00:13:21,060 --> 00:13:29,700 market structure that's bullish or bearish. Something that would jump off the chart and obviously what I'm going to cover here should be jumping off the chart
76 00:13:29,700 --> 00:13:41,910 already. The market trades higher multiple times higher high higher and then breaks down. We have a imbalance here. But this has been shown on a higher
77 00:13:41,910 --> 00:13:52,440 timeframe but you can refine it you can use this low in this high here. draw that out in time and it would completely fill in perfectly like it is here. But
78 00:13:52,770 --> 00:14:02,610 for the higher timeframe this is what it would be like seeing it this way. Then we have the market consolidating in here breaks below this low here sharply
79 00:14:02,850 --> 00:14:11,040 leaving a fair value gap market rallies up in red on this candle here I actually mentioned that this candle is what you should be focusing on on Twitter.
80 00:14:11,280 --> 00:14:21,780 Everything is time and date stamp I don't delete anything. And when it's a typo, it stays the way it is the fair value gap here outlined and said that we will be
81 00:14:21,780 --> 00:14:34,080 looking for this love here for sale sign liquidity. And I mentioned I wanted to see it as it stabbed up into a right there on that very one minute candle as it
82 00:14:34,080 --> 00:14:47,970 was a bold face, run up green candle. I tweeted, I said I want to see the fair value gap be rejected right here on that candle. And then on here, I said just
83 00:14:47,970 --> 00:14:57,570 like that another tweet and you'll see those tweets in a moment. The market does what it aggressively quickly runs to the sell sell liquidity here. And then I
84 00:14:58,050 --> 00:15:06,780 remind everybody that everyone should be square are not in the marketplace, they should not be in there and holding on to it. Why are you learning now here's the
85 00:15:06,780 --> 00:15:16,890 opening price again, that light, shaded purple level at 4036 and three quarters. Where are we at low here below the opening price in a time when I'm telling you
86 00:15:16,890 --> 00:15:24,810 last night it's bullish. So smart money is going to accumulate Long's down here. You don't want to hold on to your shorts, expecting it to keep breaking lower.
87 00:15:26,850 --> 00:15:40,140 The market rallies, built a fair pay gap here accumulates and goes into the lunch hour consolidation. Let's go into a little bit of the markups and things I
88 00:15:40,140 --> 00:15:50,730 was calling live today. I shared this chart on Twitter later in the day, obviously. But if you watch my tweets, and you are able to go through them,
89 00:15:50,790 --> 00:16:00,660 meaning not real time, do this, because you want to be watching price. But later in the day, or in the evening, whenever we get home, when we have free time. Go
90 00:16:00,660 --> 00:16:14,430 to the Twitter, pull up the individual tweets between the 830 and 11 o'clock time window. It may be a flurry of tweets. And I don't appreciate anybody
91 00:16:14,430 --> 00:16:23,700 complaining to me that sent him to me tweets, because that's the whole point of being on Twitter with me in the morning session. So between 830 In the morning,
92 00:16:24,360 --> 00:16:33,510 up till around 11 o'clock or so you're gonna get blitzed with tweets if your alerts are on. Okay, so if you don't want to be constantly bombarded with new
93 00:16:33,510 --> 00:16:40,530 real time alerts about where I'm seeing price and where it's likely to go to next, just don't turn your notifications on. But don't complain if you miss
94 00:16:40,530 --> 00:16:48,660 something that would have otherwise been prompted by a tweet. So it's not a signal service. I'm not telling you to buy or sell. But I'm absolutely taking
95 00:16:48,660 --> 00:16:58,290 your attention to a very specific segment of price action, very specific candle with with a specific price level that I'm reaching for. And you can take a look
96 00:16:58,290 --> 00:17:13,200 at what we have here. I was saying note the 4035 ESL side, that's this level right here, below their sell side. On this candle right there. The next candle
97 00:17:13,860 --> 00:17:25,290 is here. And I'm saying note the 1038 One minute candle fair value gap. That's this candle here. Right there. I'd like to see it remain unfilled. And reach
98 00:17:25,320 --> 00:17:35,820 under the 956 low. That's this low right here, the 956 low. And I sent that tweet right here. These are all individual one minute candles so that we can
99 00:17:35,820 --> 00:17:50,130 match up a ton here in here. All right, and then the next tweet is right here as the market runs up into the fair value gap, that shaded area right there on that
100 00:17:50,130 --> 00:18:00,900 one minute candle. See the date here. As you can see these tweets still on Twitter. I would want to see it reject that fair value gap immediately. Or it is
101 00:18:00,900 --> 00:18:13,170 no good. Now I don't have the tweet here, but you'll find it in the same vicinity in terms of time. I mentioned that I don't want to see it trade to 4051
102 00:18:13,170 --> 00:18:20,970 and a quarter. That's this level right here. Why did I even make a mention of that? Because it's hypothetically, where a stoploss would be put, you're not
103 00:18:20,970 --> 00:18:30,330 taking a trade. You're tape reading with me. Why there because this candle here is the high the fair idea. So your stop would be above that. That's where it
104 00:18:30,330 --> 00:18:39,690 would be. Did it go there? No. They're leaving fill in the fair value gap entirely. No. Why? Because that's exactly what I wanted to see it do leave it
105 00:18:39,690 --> 00:18:50,430 unfilled. It went in? Yes. Did it leave it? Partially unfilled? Yes. That's exactly what I tweeted at 1043 in the morning, that's exactly what your chart
106 00:18:50,430 --> 00:19:03,150 shows. For the E Mini s&p today. And the market tanks aggressively runs into our objective. And this is me being my facetious self. It's just for entertainment
107 00:19:03,150 --> 00:19:11,160 value, folks. I'm not trying to be arrogant, I just want to make you you feel engaged. It may not have that effect on some of you. And that's okay. I'm not
108 00:19:11,160 --> 00:19:18,390 going to impress all of you, right. So this candle here, I said you should be flat. For those who are gambling that is basically reminding you that you should
109 00:19:18,390 --> 00:19:27,030 not be taking trades, but I know some of you are just not gonna listen. And you made money here and you banked and then we consolidated. The low the opening
110 00:19:27,030 --> 00:19:36,390 price of the opening bet midnight, New York local time. That's this price right in here. I don't have that level on it now. But that's what we're seeing here.
111 00:19:36,600 --> 00:19:45,780 And it's below sellside, which is that love here. So what we're doing is is we're looking at times when the market is likely to go one direction. How do I
112 00:19:45,780 --> 00:19:48,750 know what direction Michael? I'm prompting you?
113 00:19:50,640 --> 00:20:03,210 With a tweet like this? That is not a signal that is me telling you where we are at the time. When I send that tweet He's going to determine what this tweet
114 00:20:03,210 --> 00:20:17,670 means. So the tweet was sent here. So if it's here, and I'm tweeting about a level here, that means I'm expecting price to go were below that low. Below that
115 00:20:17,670 --> 00:20:31,530 specific low Sell, sell sell side below, that quoted price level. So it would be 4034 and three quarters, or 4032. You know, that's what you're learning to trust
116 00:20:31,620 --> 00:20:43,440 in your own observance of price action and reading the tape with us as a community. If I quote, A buyside liquidity in its above the marketplace, at the
117 00:20:43,440 --> 00:20:54,060 time of my tweet, and I'm suggesting to you, my focus is primarily looking higher. And then I'll usually send a tweet. And I'll say, you know, there's a
118 00:20:54,060 --> 00:21:03,840 specific candle, like I do here 1038 candle, which is this candle right here that creates the fear Vega, this candle is high, that candles low. If you've
119 00:21:03,840 --> 00:21:13,050 been with me, if you haven't been with me long by doing this very thing right here. And looking at the reviews and the ideas that I share on my Twitter, you
120 00:21:13,050 --> 00:21:19,170 go into your charts, this is the work, this is the part that everybody doesn't want to do, because they're either lazy, or they just want to be spoon fed, I'm
121 00:21:19,170 --> 00:21:26,820 not going to spoon feed you better than this. There's nobody out here doing this, there's nobody going to take your attention to a specific level with a
122 00:21:26,820 --> 00:21:34,500 specific process of knowing what to do with that information, still not be a signal service. This is how you read the tape. This is how you understand how to
123 00:21:34,500 --> 00:21:45,060 read price action. And then you'll learn to trust your own analysis once you get better at it. But right now, you're learning how to use my concepts. But you
124 00:21:45,060 --> 00:21:53,910 have to trust that they work right. So there's no better way of doing it than me taking you into a live market condition. pointing to where the market is right
125 00:21:53,910 --> 00:22:03,960 now, where I believe it's going to go to next and what level is a catalyst for a turn in that direction. Okay, it may not be a fair value get like an annotated
126 00:22:03,960 --> 00:22:14,940 here, on this very candle. It may be a butcher block, it may be a breaker, it may be something else that I've taught on this YouTube channel. But I'll make
127 00:22:14,940 --> 00:22:21,600 reference to what it is. And it's not imperative that you understand exactly what that is at the time. Just understand that we're looking for the price to go
128 00:22:21,600 --> 00:22:31,920 above or below market price. And the key words are buy side liquidity, if I tell you to note that that means I'm looking higher. If I say sell side, that means
129 00:22:31,920 --> 00:22:44,040 I'm looking for it to go lower. And then you're just looking at a level or a specific time candle. That's right here, see 09 colon five, six low, that's this
130 00:22:44,040 --> 00:22:54,570 low right there. So I don't need to send you charts. In fact, I don't have time to do that. I'm already using a one minute chart, I'm doing the analysis and
131 00:22:54,570 --> 00:23:03,180 everything. And then I have to type out something, I don't have the time to dress a chart. And I don't like having my charts have all this stuff on it. So I
132 00:23:03,180 --> 00:23:11,550 don't trade with things on my chart. But I annotate them and put these things on there. So that way you can see conceptually what it is that my concepts are
133 00:23:12,870 --> 00:23:24,090 building on with the lectures and things, it's on my videos. So at the very moment it hits this or here, I said it needs to reject that, and then sell off
134 00:23:24,570 --> 00:23:40,620 and attack the sell side liquidity. If it goes to this level here, which was also a separate tweet 4051 in a quarter or basically 405 1.25. That's what that
135 00:23:40,620 --> 00:23:47,610 is. And that would represent a hypothetical stop loss. So if it would have went up and hit that, then that would have been a bad trade transaction. And you
136 00:23:47,610 --> 00:23:56,910 would have seen me get it wrong today. And if there would have been a trade taken, you would suffer a loss and or I would take us US financial loss if there
137 00:23:56,910 --> 00:24:07,290 was a trade pressed. Okay, so you're seeing the logic of where the entry pattern would look like, where the stop loss would be, where's the threshold for pain to
138 00:24:07,320 --> 00:24:16,050 put you to, I gotta get out, that means a stop loss would be utilized and the stop loss should be utilized. If you ever take a trade, whether in demo, or if
139 00:24:16,050 --> 00:24:22,770 you ever decide to do this on your own and do it with live funds or trade with a funded account. You need to be using stop loss because if you don't you have
140 00:24:24,240 --> 00:24:33,780 risk of ruin that is absolutely possible. And with no experience and getting caught up in a loser cycle, which is typical of a new trader, you very easily
141 00:24:33,780 --> 00:24:45,900 blow your account. So I reaffirm everything here that that's exactly what we're looking for. And the screenshot at because this movement here from here is five
142 00:24:45,900 --> 00:24:56,370 handles alone. So that's enough to show you what five handles would look like and you haven't even got down to this oh love here or run out that low and then
143 00:24:56,370 --> 00:25:06,090 it accelerates as we would expect to see. And then What this tweet here obviously, is saying that you got to be at the marketplace already said that.
144 00:25:08,580 --> 00:25:23,190 So, I think if you're looking for something to kind of like prove that there's a way to be able to time the market, look for setups, but also have the ability to
145 00:25:23,190 --> 00:25:36,360 grow independently. But part of the community here, you'll be able to see your own development each day, each week, every month that we go through this year,
146 00:25:36,930 --> 00:25:44,460 these things is going to be much more meaningful to you, and you're going to find it, you'll start seeing them without ICT pointing to them. And that's an
147 00:25:44,460 --> 00:25:53,340 exciting feeling. It feels empowering. When it happens, all of my students have the same reaction. It feels amazing. And they love it when I'm calling out
148 00:25:53,340 --> 00:25:59,040 something and they have it already on their charts, you can see their excitement because they're tweeting and saying, I got this already in my chart. And I'll
149 00:25:59,040 --> 00:26:05,850 say I'll see it tweeted it. Look, it was over here, I did this on my cell phone. So and to me, it's awesome as a mentor, because it means that it's transferable
150 00:26:05,850 --> 00:26:12,720 knowledge, which is exactly what I said it was, but it's not transferable knowledge, to lazy individuals that are just simply watching my videos, because
151 00:26:12,720 --> 00:26:20,280 that's not it, folks, you have to do these things here, study it, and you have no excuse this year, because I'm actually taking you into a chart live. Alright,
152 00:26:20,280 --> 00:26:32,520 so in the afternoon, we had our typical afternoon, one hour session before the close of regular hours at 415. But four o'clock, we're looking for a particular
153 00:26:32,520 --> 00:26:42,720 run into that level. What level would that be? Well, I mentioned last night that I liked the 4072 and three quarters level, I reminded everybody this morning
154 00:26:42,870 --> 00:26:54,150 that we were looking up, that was where my charts were taking your mindset there. And in the last hour of trading between 1500 to 1600, and adequate to in
155 00:26:54,150 --> 00:27:08,580 local New York Time 3pm to 4pm. What I looked for was this low here to be tagged, which is what we saw here, I went in with 10 contracts filled at 63 and
156 00:27:08,580 --> 00:27:20,160 a quarter, which was the low here. So I got the low. And then I waited for this fair value get once we traded into that with a down close candle I went in with
157 00:27:20,160 --> 00:27:33,240 10 More rallied up, I missed the opportunity to go long, five more here, because I was gonna do a 25 watt and wasn't able to do it. So I missed the here rallied
158 00:27:33,570 --> 00:27:42,570 when I hit this order block right there. That was also a time when I could have entered another another five contracts. I didn't take it there either. And I
159 00:27:42,570 --> 00:27:52,830 just watched it run up. And I realized that I model just show it to you and recorded it on my phone. Don't trade on your phone, folks, I'm only showing you
160 00:27:52,980 --> 00:28:00,180 when and how I can because if I'm out and about with my wife, or if I'm doing some things and I but also see something on my chart or if I send an alert that
161 00:28:00,180 --> 00:28:07,260 has my attention drawn to certain level, I know what I'm looking for. And I'll teach you how to do alerts and set your charts up. So that way you don't
162 00:28:07,260 --> 00:28:16,140 necessarily need ICT after this year, because that's the that's the part of this whole endeavor this year to make you independent, you won't need me, you won't
163 00:28:16,140 --> 00:28:23,700 need to do anything when anybody else is going to be 100% you and you'll be able to trust what you're looking for doesn't mean you got to be perfect doesn't mean
164 00:28:23,700 --> 00:28:30,900 there'll be a high strike rate with accuracy, it just means that you're going to know what you're looking for. And you're going to continuously do that and get
165 00:28:30,900 --> 00:28:44,130 better. But the market trades to that 4072 and three quarters level here, I start peeling off the 20 contracts. I got off at five with 47, two and three
166 00:28:44,130 --> 00:28:54,660 quarters on this 140 and 72 and three quarters on that one. So 10 contracts with a 20 team of exactly at that level. And then at 4073 Even appealed about five
167 00:28:54,690 --> 00:29:03,600 and then I got stopped out on the bounce. If you look at the recording I shared on Twitter, it's a small little video, I actually had my limit order to get out
168 00:29:03,600 --> 00:29:14,730 at 4076. And the reason why I picked that level is if you look at this low, and you take your Fibonacci extended to this here, the projection on that level
169 00:29:14,790 --> 00:29:25,770 takes you up to 4076 and a quarter. And I'll let you have that for homework and we can see that but I want to get out early. I'll sacrifice the actual best
170 00:29:25,770 --> 00:29:37,590 exits because my weakest point as a trader, okay, my weakest link is my exits. And it's not because I can't see profitable exits, I demand, which is
171 00:29:37,590 --> 00:29:45,360 unrealistic. And I shouldn't be saying this to you, because some of you are going to think that that's what you should be doing too. But the thing that
172 00:29:45,360 --> 00:29:47,250 plagues me as a trader,
173 00:29:48,299 --> 00:30:03,029 it's not entries. I have lots of entry techniques. I want to have the best exit and the only way I satisfy that desire that makes Have me as a human being, I
174 00:30:03,029 --> 00:30:14,309 believe perfection is going to be reached, you know, subconsciously, I know, reality wise, I'm not going to obtain perfection. But my subconscious is
175 00:30:14,309 --> 00:30:24,869 constantly trying to manifest that in my exits. So over the years, I've learned to learn where I think the markets going to go as a best case scenario, then I'm
176 00:30:24,869 --> 00:30:38,219 going to try to get at 85% of that price run. And I also will partial out in the vicinity of where I think that 85 to 90, maybe even 100% Run will be in that's
177 00:30:38,219 --> 00:30:49,199 exactly what you see me doing in my exits all the time, you see multiple scaling out, because that is what I wrestle with as a trader. And I don't believe I'm
178 00:30:49,199 --> 00:30:59,639 ever really going to conquer it. And to be frank with you, I really don't need to, because what I do is, in the opinion of other people watching, and other
179 00:30:59,669 --> 00:31:09,419 even seasoned traders, the opinion is, is that I have very good precision, and my placements and grouping from an excellent injuries are phenomenal, which is
180 00:31:09,419 --> 00:31:21,359 wonderful, and I can appreciate their observations. And that's wonderful as a trader and as a man that strokes my ego, but as a technician, the the me and
181 00:31:21,359 --> 00:31:33,059 Michael, my obsessive compulsive disorder says that it's not good enough. So therefore, I have to continuously strive to be better at that. So to help
182 00:31:33,059 --> 00:31:42,869 compensate for that internal wrestling match, I've developed a methodology of just simply accepting partials in an area that is very close to where I think
183 00:31:42,869 --> 00:31:55,049 the best case exit would be. And sometimes, I get very, very close to the high. Sometimes I'm maybe 10, handles 15 minutes away from the high, I'm trading in
184 00:31:55,079 --> 00:32:05,819 exiting that trade in the direction of my profitable direction. And the words, I'm getting out while the markets moving away from my entry. That's, that's how
185 00:32:05,819 --> 00:32:18,149 I'm dealing it. So I'm not sure if that is helpful to any of you. Maybe your weaknesses are entries, mine aren't in the beginning, it was at a desensitize
186 00:32:18,149 --> 00:32:28,109 myself, which is about the process of going in is pressing a button, and not worrying about the outcome. And you'll probably see me do that with my son, you
187 00:32:28,109 --> 00:32:39,809 know, I'm trying to work with him with a 50,000 hour hypothetical account. So my trading view account will be basically working with him. So it's not a matter of
188 00:32:39,809 --> 00:32:47,789 me showing you precision, because I'm gonna be doing things with him. And you'll probably hear me talking about it. And he'll be probably next to me in the live
189 00:32:47,789 --> 00:32:54,449 sessions, where I'm saying, This is what I'm doing here and watch what I'm doing here. So that way, you're benefiting from a lesson that I'm actually given to my
190 00:32:54,449 --> 00:33:07,979 son, but it's to help him desensitize himself to entries. Because he's, he's fearful that he's not going to be as precise as he feels he should be, which is
191 00:33:07,979 --> 00:33:18,299 unrealistic. In the beginning, you're not. Okay, so I hold on to that level of expectation on myself on my exits. But you have to be able to get into the
192 00:33:18,299 --> 00:33:26,729 trades. Exiting is easy here, you can come out with a static, get five handles, and once you get it you get out. That's why I'm teaching you five handles. I'm
193 00:33:26,729 --> 00:33:36,749 not saying five handles is all you're going to ever become good at. But it's a target that's realistic, it's easy to aim for. There's lots of opportunities for
194 00:33:36,779 --> 00:33:45,749 five handles in price fluctuations intraday. But over time, you're going to graduate to understanding that, oh, I can see that five handle trade, but it
195 00:33:45,749 --> 00:33:57,029 looks like it's a better 12 handle trade or a 15 handle trade, or 20 and maybe 13 upwards, but you won't be able to see that until you can find very easily
196 00:33:57,569 --> 00:34:13,049 five handle setups. 20 Tick trades are numerous through the course of entire trading week. But you only need to have one of them. One of them in with the
197 00:34:13,049 --> 00:34:23,549 right money magic behind it. It replaces the necessity for a job. It's not guaranteeing you're going to replace your job it just means it presents the
198 00:34:23,549 --> 00:34:35,039 opportunity for those that are skillful and have impeccable money management skills. You have the ability, the possibility, the potential to be able to
199 00:34:35,039 --> 00:34:47,219 replace a portion if not all of your employment income, which is in my opinion, what everyone is really trying to do. You might want to be rich and I'm not
200 00:34:47,219 --> 00:34:52,619 promising you're gonna be rich. What I'm promising you is you're gonna be able to read price better than you've ever learned before, and learn how to do it
201 00:34:52,619 --> 00:35:02,129 more precisely from anybody else. That's a Deus only thing I can promise you. But that doesn't equate to pushing a button and a Live account and in profit and
202 00:35:02,129 --> 00:35:11,279 consistently, because you can lose sight of what it is you're trying to do with one loss, and it doesn't have to be a very big loss, it just means that your
203 00:35:11,279 --> 00:35:19,349 personality latches on to that as a personal failure, and you want to erase it, you want to fix it. And that's going to be part of the things you're gonna learn
204 00:35:19,349 --> 00:35:26,789 this year. I'm going to tell you to go into your demo account and do certain things right there live. And I say, do this right now. And you may look at this
205 00:35:26,789 --> 00:35:36,449 and say, This is exactly what I should not be doing. Was he asking me because I want you to have drawdown, to train yourself to dig yourself out of it. You have
206 00:35:36,449 --> 00:35:45,209 to do two skills. You have to learn how to do it, and you have to understand the process of doing it. If you don't have that skill set, you will ruin yourself
207 00:35:45,239 --> 00:35:53,939 once you start trading with real money. Because you're going to panic and think you have to get it back right away. You don't so hopefully this one tonight was
208 00:35:54,239 --> 00:36:04,799 insightful for you at least. And if not, you know there's next week. I'm going to be away from Twitter tomorrow. And I will touch base with you probably
209 00:36:04,799 --> 00:36:15,329 Saturday on a Twitter space podcast, I guess sock on Saturday where I get a new this job and about whatever is on my mind. Other than enjoy your weekend and be
210 00:36:15,329 --> 00:36:15,749 safe