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ICT YT - 2023-02-11 - Market Review - February 10 2023

Last modified by Drunk Monkey on 2023-02-12 19:35

Outline

05:29 - John’s audio is getting better.

09:34 - Volume, volume, and volume imbalance.

16:16 - How far can the market overshoot to this low?

23:19 - Watch the price action of mini-bison.

27:39 - What is spotty price and what does it mean?

36:38 - What do you want to see in your recorded trades?

43:52 - Why this low needs to stay in place and what to expect.

49:09 - What’s the high on the high today?

55:56 - Looking at the highs as resistance to the hit.

01:03:15 - If you’re taking live trades based on Livestreams.

Transcription

1 00:05:29,760 --> 00:05:37,020 ICT: I'm trying to get this audio I'm sitting here trying to talk to him
2 00:05:50,280 --> 00:05:56,790 yeah it shows it shows it's picking up I gotta wait till I can hear myself on the feedback
3 00:06:17,970 --> 00:06:21,090 guys can hear me on Twitter let me know you can hear me
4 00:06:30,390 --> 00:06:34,380 I can see Antonio can see it but I'm not sure if you guys can hear me
5 00:06:40,320 --> 00:06:43,410 and just waiting for someone to give me the okay they can hear me
6 00:07:01,680 --> 00:07:16,650 thank you john mean mentum trader thank you guys so let's go back over here apologize like I said I wasn't I haven't been feeling well so I'm gonna probably
7 00:07:16,830 --> 00:07:22,170 clear my throat too much and get on your nerves but it's either that or I do it silently
8 00:07:28,620 --> 00:07:45,420 alright so I'm looking at the last that are trading here this Friday part of me wants to see that tie stay intact simply because I gave you the low of the day
9 00:07:45,960 --> 00:08:00,210 and so far the high the day and the two contracts I had remaining. I've killed one off at 4098 and a half and I told you I was going to leave the other one on
10 00:08:00,210 --> 00:08:13,830 for 41 zero but the spread between the bid and ask never got offered to the point where I would allow my order to fill and my stop I told you on Twitter
11 00:08:13,830 --> 00:08:29,700 would be 4084 and a half and either one would be stopped out whatever and there's sort of my fill was on that last one being stopped out giving this one
12 00:08:29,700 --> 00:08:43,110 here I was doing some scalping running back up into this fair Vega. I believe you should have that on this recording if I've done everything correct, but I
13 00:08:43,110 --> 00:08:56,190 was talking I was talking my way through it. And I realized that I hadn't checked on the audio. So I'm learning as I go folks. I'm sure it'll be better as
14 00:08:56,190 --> 00:09:09,000 we get through to throughout the year all right. So does this want to do is a volume imbalance down here
15 00:09:14,250 --> 00:09:22,320 it's Friday short covering two minutes after three
16 00:09:33,900 --> 00:09:39,090 there's two things down here. I like I like the volume, the volume and bounce in the fair value gap in here
17 00:09:59,670 --> 00:10:08,340 yeah hindsight I wish I wouldn't have taken my best friend for dinner not the scene mean or anything but this is annoying
18 00:10:13,830 --> 00:10:22,920 he had a cold and gave it to me and so I'm complaining alright so we have my opinion
19 00:10:29,070 --> 00:10:42,480 these highs up here they're still it's still too early to call it for the last hour because it could easily just pump up in the air run out to one or 251 or
20 00:10:42,480 --> 00:10:49,950 275 and I don't have anything in this as a long that I would favor
21 00:11:16,530 --> 00:11:21,180 alright so now we're pulling back into this range here and we get
22 00:11:31,140 --> 00:11:43,590 this order block here and then we have a higher down closed candle here is a propulsion block. So any retracement here should be kept at bay it should not go
23 00:11:43,590 --> 00:11:53,070 below the midpoint of that candle that's the rules for propulsion block meaning that if this is going to rally it should not go through halfway and we'll just
24 00:11:53,100 --> 00:11:58,320 eyeball it and use that high here because it's approximately it so let's watch this and study it
25 00:12:12,000 --> 00:12:13,680 small and very vague out here now
26 00:12:32,880 --> 00:12:42,720 see I'm came down to the top of the this candle the open my eyes here and that are there and we don't want to see that we don't want to see it go through it it
27 00:12:42,720 --> 00:12:55,290 can touch it but we don't want to see go through that propulsion blocking these are the rules are in in the core content we trade through it then it's in my
28 00:12:55,290 --> 00:13:01,110 opinion probable cause for it to want to go down into this area here in this volume imbalance
29 00:13:18,690 --> 00:13:22,080 you may hear my son's carrying on I apologize I'm a dad.
30 00:14:52,050 --> 00:15:07,920 Since that's a close candle. That low right here. Since we went below that propulsion block mean threshold which is a barrier that we don't want to see
31 00:15:08,280 --> 00:15:08,730 occur
32 00:15:20,250 --> 00:15:30,930 trades up into it here and then reprice his lower into the fair value gap in the volume imbalance. So we have a small little area here as well and this low here
33 00:15:30,930 --> 00:15:33,810 sell side so you can take that
34 00:16:13,740 --> 00:16:22,050 okay, trading up into the volume imbalance, we're below it. So it can trade up to the high end of it. And actually go through this volume of balanced them a
35 00:16:22,050 --> 00:16:32,460 little bit more flexible with because there's such a smaller range. And as I was teaching last night, the market likes to see a seamless delivery, meaning that
36 00:16:32,670 --> 00:16:46,380 it is the level it might overshoot a little bit. So how far can it overshoot to this candles low that's permissible. Your sell side below this low and the buy
37 00:16:46,380 --> 00:16:55,800 side and bounce outside an efficiency that's between this candles high that candles low, we'll want to see if it tries to get down below this low and fill
38 00:16:55,800 --> 00:16:58,380 in all of this and reprice to that low.
39 00:17:17,040 --> 00:17:30,900 Now assuming that gets overzealous and goes through this area repricing back to the volume and bounce here. We have relatively equal lows here sell side, we
40 00:17:31,380 --> 00:17:32,310 would be below that.
41 00:17:41,520 --> 00:17:53,280 Now when you have like this, this low here in this love here, they're essentially the same. So you have this low at 85 and a quarter. And this low
42 00:17:53,280 --> 00:18:05,790 here comes in at 85 and a quarter. And there's a small little window here, just beyond it. I'm not going to outline it with this being the level I would just
43 00:18:05,790 --> 00:18:16,950 simply look for that. Okay, as I mentioned a little bit ago, if it were to go back up and overshoot This is permissible, this coming all the way back up to
44 00:18:16,950 --> 00:18:27,060 midpoint of this, that's reasonable. It's rare that comes all the way back up as I was mentioning last night with the balanced price range. So it would need to
45 00:18:27,060 --> 00:18:37,140 immediately reject this and go lower if it's going to go lower. Get this out of the way Sorry. See there? These are all the things that I'm looking at price.
46 00:18:37,530 --> 00:18:47,580 And does it do these things these are signatures and price action that I'm looking for to either confirm or negate an idea that I'm watching or studying
47 00:18:48,150 --> 00:18:59,040 maybe for an entry or managing an open position or in this case, tape reading with all of you which is just simply observing price action imitating making
48 00:18:59,040 --> 00:19:04,590 reference to certain things that would otherwise be unnoticed by you
49 00:19:13,770 --> 00:19:18,150 that that's what we're gonna see down into that Vega here
50 00:19:29,310 --> 00:19:33,360 now must constitute encroachment which is the midpoint of the gap
51 00:19:42,540 --> 00:20:00,360 at 750 Yeah, so 8730 and 8675 respectively. So far, it's only hit the top the fair value gap. Okay
52 00:20:15,660 --> 00:20:19,740 cards shuffling the cards
53 00:20:40,380 --> 00:20:53,970 so I'm not really looking for anything monumental in terms of price movement this last hour to Friday, we're just moving in between dealing range between
54 00:20:53,970 --> 00:21:06,750 this low. In this high, we made an attempt to run up and challenge this old high. And this fear of a gap and buyside liquidity pool rushing by this short
55 00:21:06,750 --> 00:21:21,300 term High was enough. And the body's respecting the Costco encroachment of that midpoint. And we bumped it one more time in here. So I'm doing this small little
56 00:21:22,800 --> 00:21:33,510 microscope micro market structure observations with you. Now, watch this one here, because that might be where we're gravitating to.
57 00:21:43,920 --> 00:22:02,670 And be mindful, though, I'm about one of the things that you're going to have is a source of confusion, frustration, is knowing which pdra is to be more flexible
58 00:22:02,670 --> 00:22:02,940 with.
59 00:22:09,390 --> 00:22:22,740 And one of those are my volume imbalance. So I allow price to, to move through it back and forth, and then come back and use it again, as a support or
60 00:22:22,740 --> 00:22:35,820 resistance level. The fair value gaps, I'm not that loose whip, like I'm demanding them to do specific things. Now, if they're broken, and price goes
61 00:22:36,600 --> 00:22:46,290 away from them and comes back and goes back above or below, then it can be reclaimed. But back and forth type price movement like we're seeing here. That's
62 00:22:46,350 --> 00:22:54,900 for me and what I've grown to trust with my volume imbalance, which is again, a separation between two candles bodies, but the wicks can touch or overlap,
63 00:22:54,900 --> 00:23:04,530 that's fine. The identification of that in price action. Let me put this in here. Because I saw a couple people mentioned it, they're saying that their
64 00:23:04,530 --> 00:23:18,930 broker feed or their broker doesn't show or sometimes if they're looking at the micro account or micro contract. First, like this is a mini and the micro mes.
65 00:23:19,560 --> 00:23:29,280 Sometimes it doesn't show the volume imbalances on there. I'm not aware of that, because I don't really watch the NES. But the way you would combat that is
66 00:23:29,280 --> 00:23:45,870 simply just watch the price action of mini and trade with that insight using what you see on your ens chart. But I'm comfortable allowing price to here's the
67 00:23:45,870 --> 00:23:56,250 mean threshold, I'm sorry, the consequent curtailment of the fair value gap here. So now our attention goes to rate below here and this specifically
68 00:24:08,010 --> 00:24:23,010 so we have this bison male suicide in efficiency, the lower end of it here. Sell side and we have an order block here. Let's see if we get the price that want to
69 00:24:23,010 --> 00:24:33,360 dig down deeper a little bit. Volume and bounce the volume imbalance so it can reprice back up into this area here. But it would be better if it didn't.
70 00:24:36,990 --> 00:24:45,060 Because pushing back up into that if it launches through it, then we're going into this area here
71 00:24:50,820 --> 00:24:59,940 see pricing you want to bear for this. Well what's the benefit of watching price action today? It was rather lethargic, choppy in certain times and we were
72 00:25:00,330 --> 00:25:08,430 covering it, and Twitter. And then ultimately, you know, I gave a 10 minute filter, I was like, I'm gonna give it 10 minutes and see what it does. And then
73 00:25:08,430 --> 00:25:19,830 it gave me something to work with, outlined it walk you through it. And I'm sure some of you did what you weren't supposed to do and trade it. And I called the
74 00:25:20,220 --> 00:25:32,730 high of 41 01 50, which at this moment still is in place as the daily high. And this morning really early before the New York session, I mentioned the low rate
75 00:25:32,730 --> 00:25:43,440 to the tick. So both high and low have been shared with you. goober on Twitter was telling us about what you say you could go, because anytime I'm a Fed
76 00:25:43,440 --> 00:25:57,030 speaker, anybody from the Fed is talking, it can create wild price action. And when you're new to trading, you don't understand that. So you have to make
77 00:25:57,030 --> 00:26:12,180 available allowances for you being inaccurate, or traditional expectations or rules go out the window when fed gets involved. So the Fed effect is all the
78 00:26:12,180 --> 00:26:25,710 rules go out the window, the prepare for that. So that low I call this morning. And the high that I have here, when a Fed speaker or fed representative is
79 00:26:25,770 --> 00:26:35,640 jawboning and talking. Their words are going to be utilized as a smokescreen for price to do it's going to do what you're told it's the market reacting to what
80 00:26:35,640 --> 00:26:39,840 they're saying. And I'm sorry, I'm not a subscriber to that view.
81 00:26:56,730 --> 00:27:07,740 Probably should put these cards down, because invariably, someone's gonna hear me shuffling, and they're gonna think either on doing something vulgar or
82 00:27:09,060 --> 00:27:23,040 inappropriate, it's this nice shuffling. I'm usually doing this with the cards in hand while I'm watching price, because it's just I gotta keep my hands busy
83 00:27:23,040 --> 00:27:39,480 doing something, I just can't be standing in front of my screens. So I practice shuffles and such. But I want to see if we can stay under this volume and
84 00:27:39,480 --> 00:27:52,050 bounce. But look, look how spotty price is right now. And meaning, what do I mean by spotty? You have volume imbalances in here, here, here, and the one over
85 00:27:52,050 --> 00:28:05,040 here. So it makes it difficult to get a real smooth, like, obvious run to this price level react and go lower or run this price level, react and go higher. So
86 00:28:05,040 --> 00:28:16,230 it can go back and forth. Because it's referring to all of these specific PDE arrays, which makes reading price and taking a trade much more difficult to
87 00:28:16,230 --> 00:28:27,150 trust. And where would you place your stop loss because it can bang around in here. And then ultimately run on one of them as its baseline premise, with
88 00:28:27,150 --> 00:28:36,600 supporting it as the PDA array or the multiplier for price to start moving away from. It's hard to get a read on that when there's multiple ones like that. So
89 00:28:36,600 --> 00:28:51,120 when I say markets, spotty, that's what I mean by as multiple volume imbalances. It's very pores, put it that way. And when there's porous pockets in price, it's
90 00:28:51,120 --> 00:29:00,840 going to want to spend more time in there, rebalancing that. And the way you rebalance is you reprice to it, you leave it, go back into it, and fail and go
91 00:29:00,840 --> 00:29:09,810 the other direction. And since there's multiple ones, it means you're gonna see it go back and forth, back and forth. So we're up inside that fair Vega on
92 00:29:09,810 --> 00:29:23,400 typical highs here. Now, if we were to rally and come back down and find some support here, then I think because of time being 330 Now, we might see a macro
93 00:29:23,400 --> 00:29:36,990 run us up into these highs here and take out the buy side this resting over here. So one of two things is going to happen if that's exactly what's going to
94 00:29:36,990 --> 00:29:46,560 unfold and I'm not 100% certain it's going to do that but I'll stick with that narrative here. If it goes above it finds a support here, then it would look the
95 00:29:46,560 --> 00:29:49,440 rally otherwise it's going to rip right on through and not even look back at it
96 00:29:56,250 --> 00:30:05,760 Okay, so now, because we have this gap here, the ones shaded it and we have a swing high, we now have technically, quote unquote, a market structure shift
97 00:30:07,110 --> 00:30:17,880 after trading into a discount for your Vega, after taking sell side here, with this drop down, we're bumping up against this fair value gap. And we would want
98 00:30:17,880 --> 00:30:30,210 to see price they wanting to go higher this fair value gap, you have to be mindful that. So you just can't take a long here and put your stop loss there
99 00:30:30,210 --> 00:30:39,810 because you have this inefficiency. And you can come back down into that. So your stop would have to be down here around 8989 25. So we've had a really
100 00:30:40,410 --> 00:30:48,240 perfect delivery to low on the fair pay gap here. And we'll see if it wants to rally up and starts pulling higher.
101 00:31:02,400 --> 00:31:12,330 This is our bearish order block. We don't want you want to see this act as a speedboat meaning it shouldn't be, it wouldn't be ideal for it to hit this
102 00:31:12,330 --> 00:31:23,460 unlike be slowed down at all, we would want to see it go through that. And more specifically, not just enter it but go right through the midpoint of the candle,
103 00:31:23,460 --> 00:31:33,330 which is mean threshold. So when I'm watching this area like this, and I'm thinking if it's going to reach for by side, or attack the daily high going into
104 00:31:33,330 --> 00:31:45,210 the clothes on a Friday. If I have an order block like this, I'm watching price and I want to see it needs this quickly go into the candles body and go right
105 00:31:45,210 --> 00:31:55,680 through the midpoint, which is mean threshold. That's the that's the qualification that's the little nudge that I'm on side, I'm confident that it's
106 00:31:55,680 --> 00:32:07,260 going to do what I'm expecting it to do. If it runs quickly through the midpoint of the order block. If it does a run up here and does bounces away from it and
107 00:32:07,260 --> 00:32:22,860 just meanders around. That's not as ideal, it means that it could consolidate or it could reverse entirely and come back against the idea. So I'll annotate the
108 00:32:23,310 --> 00:32:42,210 mean threshold on this candle in the event if we get a run Oh is 95.25 so we would want to see it rip into 95.25 aggressively and run right through it. If
109 00:32:42,210 --> 00:32:52,440 it's going to rally and go for the buy side that's how you know the trust that how do you know ICT to trust these moves yada yada yada and it's because of that
110 00:32:53,880 --> 00:33:03,330 it's tearing into the order block and not respecting them in threshold, which is this little red level here
111 00:33:09,450 --> 00:33:21,900 you folks are getting spoiled this week are these sessions of go ICT Alright, to see what it's doing here. This is what I don't want to see this is what I've
112 00:33:21,900 --> 00:33:32,460 just explained to you. We don't want to see it go into the order block and fail to run up into main threshold and tear through it. What is it doing? It's
113 00:33:32,460 --> 00:33:42,390 retracing back down into the fear Vega that is something that you don't want to see. And it takes much more for it to turn around and go higher from this point.
114 00:33:43,200 --> 00:33:56,970 And if you're in a trade and your stops at 89 as indicated down here because we have this fear but yet it can be a little unnerving for you when it digs back
115 00:33:56,970 --> 00:34:06,240 down into that fear of a gap so we want to see this candle here or the very next one because 52 seconds before the turn of the new candle we want to see the next
116 00:34:06,240 --> 00:34:10,860 candle when it opens immediately run higher not even mess around just rip higher
117 00:34:26,400 --> 00:34:36,450 does it tear through mean threshold? We don't want to see it respected at all. To that's not where we want to see we don't want to see that. So what you're
118 00:34:36,450 --> 00:34:39,720 watching is you you don't want to see that candle turn on you.
119 00:34:50,490 --> 00:35:07,050 Gotta stay above it's low. Dig through. Okay, so now we're okay. Now, watch the buy side over here. Much like we just described on the order block here, we want
120 00:35:07,050 --> 00:35:18,810 to see the same event here for this fair Vega. So while I don't have this on my charts, I'm my eyes going to these points over here. And I'm saying okay, I know
121 00:35:18,810 --> 00:35:35,490 that price is roughly here at 4097 and a half, I want to see it rip through 4797 rather 4097 This price here essentially midpoint or consequent correction of the
122 00:35:35,490 --> 00:35:42,390 gap that is between this candle is low and this candle is high with this one though, damn close candle.
123 00:36:38,700 --> 00:36:47,700 Alright, so we would want to see large range expansion. Usually, when you see me doing mine recorded trades, I'll type out and say I want to see speed and
124 00:36:47,700 --> 00:36:58,770 distance, or sharp decline. If I'm looking for it to be bearish, I want to see big range of green big up candles. But I'm saying like, I want to see large
125 00:36:58,890 --> 00:37:11,220 range green up close candles. You see how fast we want right to do constant encouragement at that mid level right here. When I see that, I feel like that's
126 00:37:11,250 --> 00:37:20,880 a like a confirmation that your would that you would be on site and I'm on site if I'm expecting it. So I would reasonably expect to see that go through here.
127 00:37:21,420 --> 00:37:29,700 Now if it goes through here, we want to see it expand up with a lot of velocity and speed. So that we can dig into this level here and take up that high which
128 00:37:29,790 --> 00:37:41,400 in my heart, I wish I would just not see it taken out because 41 Zero 1.50 Even though my last contract didn't get a fill, because the spread the the Heinola
129 00:37:41,400 --> 00:37:48,750 was called to you in advance the fairy tale stuff that they say can't be done.
130 00:37:56,700 --> 00:38:09,000 So you can see it's already moved about five handles or so what's the deal going on that are close rather, nine to 50. And there's your five handles, it's
131 00:38:09,000 --> 00:38:20,520 tearing through the fear Vega coming back touching it. Watch the low, you can come back and touch that it's fine. If it comes outside the fair value gap,
132 00:38:20,790 --> 00:38:29,610 watch the constant encouragement of this wick. That's what my eyes go into when I'm looking at I'm watching does it support it, I need three PD arrays, 3d,
133 00:38:29,700 --> 00:38:39,450 sorry, three, three PD arrays. Once I see three of them break, then I'm going to look to collapse a trade or take some of the trade off. In this case, nothing
134 00:38:39,450 --> 00:38:50,070 here is problematic. It should have an expansion here on this candle. rip through that buyside liquidity and then dig into that 4100
135 00:38:55,200 --> 00:39:06,180 pruney help, let's consistent, isn't it? It's fun. And this has always been available to you. You just haven't been doing it. And when you do this, you
136 00:39:06,180 --> 00:39:14,250 learn what it is that I'm doing. And I've been doing this for 30 years. So obviously I'm going to be better at it. But in the beginning, you got to get
137 00:39:14,250 --> 00:39:22,140 past that uncomfortable not knowing what you're doing. And you observe things and record things and does these things repeat over and over and over again. So
138 00:39:22,140 --> 00:39:31,800 we had buyside taken here and that would have been a partial for you. So buying the fair value got as I mentioned here, we're going to use the top of the fair
139 00:39:31,800 --> 00:39:40,380 Vega which would be the equivalent of this candles close. I don't want to say that you would have got filled down here because that's not practical. But the
140 00:39:41,010 --> 00:39:59,160 closing price here is essentially the same thing as the highest FFA got so 409 2.50 So seven handles from here to here, running out by side. That's not a
141 00:39:59,160 --> 00:40:05,850 bad move at See, I mean, it's a bread and butter type setup, it's real easy, those things happen multiple times in a day.
142 00:40:11,010 --> 00:40:25,380 And you could roll your stop to plus one. And just see if you have a run up into new highs on the day. But you don't want to be limiting how much you're going to
143 00:40:25,380 --> 00:40:37,230 get. Because when it gets close to this 345 350 time window, the macro in the last hour can start really sending this thing higher, and run out through here
144 00:40:37,230 --> 00:40:44,640 and then keep going a little bit more. So you don't want to ever shortchange yourself in that opportunity. So you could have a limit order to take something
145 00:40:44,640 --> 00:40:58,890 off at the new high, you know, like 1010175 or one, I'm sorry, 4102 even and then have a runner to see if you can get any kind of additional expansion,
146 00:40:59,040 --> 00:41:11,070 should it materialize? We don't know because I mean, this is this is a bowl I'm sorry buyside liquidity pool that has been purged already. Here. Volume
147 00:41:11,070 --> 00:41:12,720 imbalance wants that right in here.
148 00:41:18,750 --> 00:41:32,790 The consequent Krishma the wick here. So about midpoint drawn out in time and you're watching does the price touch it? And does it if it does touch it, does
149 00:41:32,790 --> 00:41:44,280 it disrespect it and go right on through it or does it failed even go to it and resume going higher. That's when I'm considering mom watching price. Not looking
150 00:41:44,280 --> 00:41:54,780 at indicators. Not looking at moving average crossovers and not looking at supply and demand zones I'm reading very specific algorithmic price levels that
151 00:41:55,440 --> 00:42:01,320 are going to key up on what you would expect in support and resistance. These things do offer that
152 00:42:16,740 --> 00:42:28,140 if you're watching this video live and you watch me outline the seven handle we're on here do me a favor and give me a thumbs up I was watching because I'm
153 00:42:28,140 --> 00:42:40,050 doing this for free. And one of the things that I would like to see you do is support the the left and you're not paying for them. But your payment to me for
154 00:42:40,080 --> 00:42:52,200 appreciation would be the thumbs up. The more you inspire me to do that, more likely I'll do more of these are the obvious you can see it's it's no real
155 00:42:52,200 --> 00:42:59,070 effort on my part I just didn't want to do before because it's a pet peeve of mine
156 00:43:06,930 --> 00:43:23,130 every single time we meet price seems to know how far I can go on its leash before we close our session now. And that my friends is fun. That's what we're
157 00:43:23,130 --> 00:43:23,760 looking for.
158 00:43:29,280 --> 00:43:40,650 Notice how price went down into this wick here. Consequent encroachment, beautiful redelivery by side. So he noticed probably when I'm looking at a run,
159 00:43:41,670 --> 00:43:50,160 every time it makes a new high, I always annotate it like this. And I'll take a partial when it hits there, you will be doing it too. So this is called running
160 00:43:50,160 --> 00:44:02,340 down equity. So written here. Now because we've had one high taken here. And then this high took out that high, we don't want to see any kind of reversal. So
161 00:44:02,340 --> 00:44:10,470 this this low here needs to stay in place. We don't want to see any of that coming back on that because then it's problematic and we don't want to we don't
162 00:44:10,470 --> 00:44:22,050 want to see it basically in and then we will see an energetic big run up into like 4104 4105 big candles pushing really hard because there's a lot of orders
163 00:44:22,680 --> 00:44:30,180 that are resting up here that are layered and they're like all up in here. The books will tell you to put it right above the high, but some other traders and
164 00:44:30,180 --> 00:44:37,350 fun traders will think okay, let me just go a little bit deeper than that and I'll be really protected. And that's why when you see in the later parts of the
165 00:44:37,350 --> 00:44:48,030 day, the old intraday highs and lows, they'll get really ran out because they're seeking the liquidity of the funds and funds have their stops. Not just one tick
166 00:44:48,180 --> 00:44:51,750 or one point above it. It's several handles above it as much as 10.
167 00:44:59,880 --> 00:45:17,820 You I know it's fun ICT Why didn't you do this sooner because all of this is your responsibility and this is the work that your says we putting in but I
168 00:45:17,820 --> 00:45:32,010 would have been able to quit my job back in 2016 You still can but you're gonna have to do it on your own effort not following what I'm talking about anybody
169 00:45:32,010 --> 00:45:45,480 can follow what I'm saying. That's not skill I'm just showing you what it looks like showing you the principles and what you would be doing when we're not doing
170 00:45:45,480 --> 00:45:46,290 it like this
171 00:45:53,190 --> 00:46:03,330 and I would want to see it rip higher here and respect the down close candle here which is a bullish order block. Now I want to see a big run up real sudden
172 00:46:03,330 --> 00:46:11,190 boom boom like two big bullish candles rip into 41 therefore level 41 05
173 00:46:16,260 --> 00:46:27,840 What do we have there another wick does it support that idea of holding it at bay? Or is it dig through it and completely go back down into the range of this
174 00:46:27,840 --> 00:46:34,650 wick because the constant encouragement that wick is here so it can come back to here but we don't want to see completely washed out that candle
175 00:46:42,900 --> 00:46:58,650 I'd be lying if I said if I didn't want to see a crash here. I don't want to see my 41 Zero 1.50 High breached but it's it's probably going to happen so that's
176 00:46:58,650 --> 00:47:13,650 okay it's not the first time I did the daily high and low. And it's probably not going to be the last time it's real hard to argue about the markets being
177 00:47:13,650 --> 00:47:26,550 algorithmic now isn't it? Controlled if you will? Not to see in a week like this. How on earth does he do this? Where did you get these toys
178 00:47:33,300 --> 00:47:44,940 from another dimension All right, so here's our last chance to see rip through big caffeine bar big huge caffeine bar just push push, push, push push real big
179 00:47:50,850 --> 00:48:05,760 little bit more net. So you've seen the 41 Zero 1.5 levels breached so anybody that would have been having a stoploss beyond where mine was and they were
180 00:48:05,760 --> 00:48:15,000 holding on to it there's your fill on that I'm just not comfortable with having all that retracement all that time. There's so many other trades as you can see
181 00:48:15,000 --> 00:48:24,870 here I'm outlining here live with you. Remember we're looking for 41 04 41 05 layered fund open float
182 00:48:39,539 --> 00:48:43,649 30 More seconds last 10 minutes of trading
183 00:48:59,340 --> 00:49:11,880 probably annoying some of you What is it noise I'm anxious because I've been in furniture stores all day with my wife. Oh there you go. There's your algorithm
184 00:49:15,330 --> 00:49:28,980 got as far as what's that 41 03 In that even? Is the high on that 410 3.00 still could flip here
185 00:49:36,960 --> 00:49:50,790 it would have been better had we started the the run into the old intraday high of 41 01 50. If it was doing that right when we got to 10 of four. If they would
186 00:49:50,790 --> 00:50:05,010 have done that Dan, we would have seen that blistering. Big run up and pop through that 4104 4105 level in Maybe even higher than that. So at this point
187 00:50:05,010 --> 00:50:15,630 you would be wanting to take just about everything off and just see if you can get another run on one singular candle. I'm sorry, not candle, but my contract.
188 00:50:16,380 --> 00:50:20,790 But this already is not in my fever for continuation
189 00:50:40,560 --> 00:50:49,620 So what'd you do with the algorithm in the last couple minutes of trading, if you identify a liquidity pool that is likely to be ran out, which is what we
190 00:50:49,620 --> 00:51:02,610 were watching today, we were looking for this here, if it runs through it before, okay, before 10 minutes of then the macro will run through it
191 00:51:03,000 --> 00:51:18,300 aggressively and reach for liquidity that's resting above the high, but since we hit it ahead of and went through it ahead of here, see your time it is it's 40
192 00:51:18,330 --> 00:51:31,800 it's 348. That means it's already delivered running through the hi here. So it's going to have a small little flurry. It might go up here but then the macro will
193 00:51:31,800 --> 00:51:46,080 dig back into the daily range. Why? Why should it do that? In an up close day, rarely, and it's not a trending day, but rarely do you see the candle close on
194 00:51:46,080 --> 00:51:56,100 the high unless it's a trending day. Typically what will happen is it creates the intraday high today then it pulls all the way from that high and closes near
195 00:51:56,100 --> 00:52:08,010 the high so it won't be on the highs it'll be off the high so that's what that market on close macro was doing. Very very gap right here bumping up into the
196 00:52:08,010 --> 00:52:24,150 41.75 level if I was making the market I would intervene here and rip it higher and go right into 4109 which is an ICT being an ICT?
197 00:52:37,650 --> 00:52:44,640 She had me an all these stupid furniture stores. I can't stand looking I didn't need to be there. I mean, she could have went up there and looked around for all
198 00:52:44,640 --> 00:52:59,070 that stuff. We think about this you know whatever answer you give your wife if you're honest. You don't want to answer and you don't want to lie and say oh
199 00:52:59,070 --> 00:53:09,510 yeah, that's great honey because then you have to buy it and live with it. So it was just a miserable here's our 41 a four let's see if we can dig in the 4105
200 00:53:15,510 --> 00:53:28,170 Come on Give me 40 Give me 4105 And then for you 109 Rip up here just because I'm asking nicely
201 00:53:37,110 --> 00:53:44,520 technically I'm technically technically and technically technically I'm satisfied because it did give me the 4104 which is what we're talking about down
202 00:53:44,520 --> 00:53:57,630 in here so that is a 10 handle run as well. Better than
203 00:54:03,030 --> 00:54:14,550 in a very comforting Bob Ross tone. ICT is explained it in detail what it should do what it shouldn't do. If the market was not algorithmic. If there is no
204 00:54:14,550 --> 00:54:28,680 algorithm I would not be able to do explain what I just gave you what logical I'm using exactly the more you know
205 00:54:39,840 --> 00:54:53,100 I don't know if I'm going to be doing a shark on Saturday tomorrow. I put a lot of time in with you this week. And my younger son didn't see much I mean this
206 00:54:53,100 --> 00:55:14,850 week so I'm gonna try to spend some dead time with him. because Twitter spaces tend to be a big erosion of my time. Nick easily become four hour long rants.
207 00:55:18,210 --> 00:55:29,910 And I know some of you've been thinking, Oh, he's really going to have a rant. So we have to see what you saw. No, you just see what I do. But we have to be
208 00:55:29,910 --> 00:55:37,710 more equitable with my time. See that small little bit of a gap there.
209 00:55:56,039 --> 00:56:09,539 One of the things I also wanted to mention while I'm doing this, now here since we went back below it and we had a run on the highs, look at this as a potential
210 00:56:09,539 --> 00:56:21,989 resistance to the hit this, respect it and reject and go down here and here? Or does it ramp up in Lemoore time run into the highs?
211 00:56:34,020 --> 00:56:44,490 It's not for trade entry. Remember, you would be managing and holding on to what one? One contract seen does it give us which is how I would be managing it, I'd
212 00:56:44,490 --> 00:56:59,220 be looking for any potential get to that 41 09 level. So did it respect that fair pay gap as resistance? Not that you could tell here. So it would allow me
213 00:56:59,220 --> 00:57:03,720 to feel still comfortable holding it to see if it can get into a higher high.
214 00:57:12,060 --> 00:57:24,780 Here's levels and rules all this is not easy. I know that over time, you'll get in one of the things that I talk about and teach live and point out what it
215 00:57:24,780 --> 00:57:35,400 should do what it shouldn't do. it'll resonate with you. It'll be that's the one that's the one that makes so much sense to me, I'm going to use that. And you
216 00:57:35,400 --> 00:57:46,680 won't care, whatever I talk about outside of that one. And that's what your your model will be based on. Alright, so now because we went above that fair value
217 00:57:46,680 --> 00:57:54,210 gap you want to be measuring does it offer support now, does it keep price from wanting to go back down through it because if it goes back down through it, then
218 00:57:54,210 --> 00:58:10,500 we're probably done for the day in the highs in place at 41. And for that, then you would protect your stop loss, that would be somewhere down here. And you
219 00:58:10,500 --> 00:58:19,740 would close your trade. Otherwise, if it doesn't go through the fair value got it's above it, you give it a chance to run up in there and see if you can make a
220 00:58:19,740 --> 00:58:26,730 higher high. But you want to be closing it right before four o'clock.
221 00:58:34,829 --> 00:58:50,309 Look at the time. I'd be done. I'd close the trade here. And I'd be contented with that. Now it can trade obviously, past four o'clock. You want to venture
222 00:58:50,309 --> 00:58:55,169 into that time. It's it's your business, that's your prerogative. I just don't
223 00:59:01,230 --> 00:59:03,030 see how we went through the fear that I got here.
224 00:59:13,770 --> 00:59:26,220 So even though I was initially right with the 41, zero 1.50 level, and nailed it to the tick and reversed, I sat with you live and I told you another level that
225 00:59:26,220 --> 00:59:39,330 I thought would be significant for a daily high 41 04 As much as 41 05. And if we were going to run through, I would have really appreciated seeing 41 09
226 00:59:40,110 --> 00:59:55,320 That's how I would have traded it. I would have looked for that type of run. As you can see here that didn't manifest but 41 04 did. And when you would journal
227 00:59:55,320 --> 01:00:07,380 that and annotate your chart, you would put that in there. I'm pleased I was so Oh, satisfied seeing that my analysis called for, for 104 point 00 as a high,
228 01:00:08,310 --> 01:00:21,600 and then you take your little annotation, you dress up your chart, drop it on there. And then all your appreciation and self love. You pour into your journals
229 01:00:21,600 --> 01:00:29,910 in your chart annotations, you don't put anything toxic into it, you don't put anything. I got stopped out two times today and blah, blah, blah. You don't need
230 01:00:29,910 --> 01:00:42,240 to add all that stuff with misery. Because your subconscious is going to remember that. So I do think that's going to be it for our time this week. I had
231 01:00:42,240 --> 01:00:53,010 fun. I spent a lot of time with you all. So I'm going to try to use this weekend to rest. I don't think I said I don't foresee myself doing the Twitter space
232 01:00:53,010 --> 01:01:11,670 this weekend. Usual Saturday. Struck on Saturday where I sit down with y'all and talking Twitter. I'm gonna use this weekend the rest. I'll send you some pre
233 01:01:11,670 --> 01:01:27,330 market charts. On Sunday evening before the market opens. I'm not going to do any video works this weekend. And one of the things also I've learned quite
234 01:01:27,330 --> 01:01:37,710 enjoy is when I'm doing the live streams like this. Yeah, invariably, I'm going to have something in here. I wish I could take out my nervous compulsive, OCD
235 01:01:38,490 --> 01:01:50,010 flaring of certain things that I wish I would have said. Or if I have to correct something, I miss miss call like I'll sometimes I'll say you this breaker, this
236 01:01:50,010 --> 01:02:00,600 constant encouragement and so mean threshold because my mind's gonna harm on our while I'm watching Real Time price. And I'm also anticipating what questions you
237 01:02:00,600 --> 01:02:13,890 may be having looking at price while we're doing it live. So one of the things I like about doing a live stream is it's one and done. Whereas I'm so high strung
238 01:02:13,890 --> 01:02:29,340 about making sure that the videos are how I want them this way, it's kind of like it's done. You know, it isn't perfect, which I don't like that. But it
239 01:02:29,340 --> 01:02:39,300 communicates everything that's necessary. And it's very economical with my time. And I think, for all of you, because you get it immediately. So I was trying to
240 01:02:39,300 --> 01:02:49,440 tell my wife, I said to her, I said you have a majority of my time is production, edit, review, make sure everything's the way I want it, and then I'm
241 01:02:49,440 --> 01:02:59,910 gonna compress it. And then I gotta wait for YouTube to do its thing with it. Whereas here, all I got to do is start the whole process. And then when I in the
242 01:02:59,910 --> 01:03:10,650 stream, I'm done. There's nothing to it. So I think what's gonna happen, is it right and nothing evolving into just doing this every day? And so you're like,
243 01:03:10,710 --> 01:03:23,490 yes, yes. I'm getting funded now. That's what I wanted to say I mentioned earlier, but I didn't finish the thought, or at least I don't remember saying
244 01:03:23,520 --> 01:03:34,950 everything to completion. But I asked all of you that. Were not following my instructions. If you're taking live trades, based on what I'm calling in
245 01:03:34,950 --> 01:03:46,740 Twitter, or calling in livestreams. Regardless of how accurate is if you're taking trades, I don't want to know, I don't want to know that because it builds
246 01:03:46,770 --> 01:03:57,690 up anxiety for me, because I don't want to I don't want to do anything to hurt any of you. Invariably, because I am human like today, I have small stop loss,
247 01:03:57,780 --> 01:04:09,570 you got hit and it's done a big thing. Immediately, you saw me call at the market and we had the big run today. So here's another one in the afternoon. The
248 01:04:11,640 --> 01:04:23,820 the pressure that you put on me as your mentor, and when I've asked you not to do these things. Share that stuff with your friends if you want to do it. But
249 01:04:23,820 --> 01:04:33,060 don't, don't add my handle on Twitter, because I scroll through everything. And I understand that you're trying to show me appreciation, but I've asked you not
250 01:04:33,060 --> 01:04:41,340 to do that. Just like I don't want to be called the goat or a king. I tell you those things because I want you to respect the fact I'm asking you not to do it.
251 01:04:42,330 --> 01:04:52,110 It's not an encouragement to keep doing it. I find it very disrespectful. And it offends me. So if you appreciate what it is I do. The way you show that
252 01:04:52,110 --> 01:05:01,290 appreciation is this Be respectful. Say thank you if you made money well done, but I don't want to know about it because it just really minds me that every
253 01:05:01,290 --> 01:05:11,370 time I'm saying something, you're all going to do something with a live account, and potentially open yourself up to risk. And the whole point of this entire
254 01:05:11,370 --> 01:05:20,910 year is for you to grow and trust your own analysis not, I'm going to piggyback while I can, because he's pretty consistent. You're missing the observations
255 01:05:20,940 --> 01:05:33,450 that are there without having the money that's associated to the two laboratory experiments that we're doing. So I had a mater Twitter. So if you've tweeted
256 01:05:33,450 --> 01:05:40,800 that you made money on this afternoon session together, please delete your tweet, I don't want to see it. I'll be in bed tonight, laying there falling
257 01:05:40,800 --> 01:05:49,740 asleep, gone through tweets, and I'll see it and it's going to be a source of anxiety for me. And I know, you're probably thinking, Why should I be anxious?
258 01:05:50,130 --> 01:06:02,040 It's the dad and me. I don't want to see any of you do something to hurt yourself prematurely, and then scare yourself out of doing it the right way. So
259 01:06:03,870 --> 01:06:19,680 that's that. And I think we're gonna close it here. So enjoy your weekend. Have a good one, relax. And I promised Tom guard that I was going to give a review on
260 01:06:19,680 --> 01:06:34,530 his book. So I'll just steal it briefly here. I listened to his audiobook over a span of three days, it's only like six hours or something like that six and a
261 01:06:34,530 --> 01:06:47,730 half hours, a little less than seven hours. I enjoyed it. I thought it was a good lesson. And if you haven't given it a consideration, perhaps you should do
262 01:06:47,730 --> 01:06:57,750 that. I'm not getting anything for it. I told him I was going to give a fair review in if I didn't like it, I'd say it but I would do so respectfully. But I
263 01:06:57,750 --> 01:07:06,810 enjoyed it. I told him I said, you know, I enjoyed your book I had through audiobook, which is the way I can go through I do about two or three books a
264 01:07:06,810 --> 01:07:22,350 week through audiobook. And his was a very easy read, it was not something that would have been challenging for any of you. And in some parts, I felt that they
265 01:07:22,350 --> 01:07:29,070 were there were some funny parts in there. And there are some things that were very, very true, that don't really get considered and I don't want to steal the
266 01:07:29,070 --> 01:07:36,510 thunder and talk about what they are. Because then it defeats the whole purpose of you listening to his book, he put the time and effort into making it and
267 01:07:36,510 --> 01:07:45,390 producing it. So you should hear it from him. Or at least the narrator did did his audio book, which I think did a pretty good job. Usually, some of the audio
268 01:07:45,390 --> 01:08:01,530 books that I've purchased, not necessarily trade related. But you know, you're probably asking, What did you listen to? Fiction, historical things, documentary
269 01:08:01,530 --> 01:08:14,880 type things. It's not always trading. But with 2000 trading books. You don't need to have any more trading books. But what was interesting about this book is
270 01:08:15,330 --> 01:08:29,250 it was about how a trader thinks a trader and his opinion about what we as traders shouldn't expect to encounter how to deal with it, and how he dealt with
271 01:08:29,250 --> 01:08:39,990 it. And I find that fascinating. But I absolutely find that fascinating to me, that's more important than understanding how a trader trades with his techniques
272 01:08:40,020 --> 01:08:52,710 or skill set with whatever things that he uses in chart because that to me is not of any importance, how they conduct themselves, how they manage their their
273 01:08:52,710 --> 01:09:06,330 thought process, their emotions are feared, agreed anxiety, their performance and the performance anxiety that comes by way of doing what we do here. And I
274 01:09:06,330 --> 01:09:15,870 thought it was a good book. If it were a question of should you go out and buy it right now?
275 01:09:18,150 --> 01:09:26,130 I don't think it's you got to go out and buy it right now book but I think you should have it. And I don't think there's any really any book out there. You
276 01:09:26,130 --> 01:09:35,310 need to go out there right now and buy. But if you can afford to get it, you can get the audiobook was good. I didn't. I didn't sit and read it. I don't really
277 01:09:35,310 --> 01:09:44,550 read so much anymore because my eyes aren't as strong as they were as a young man. And I try to protect them as much as I can. Because I have to do what you
278 01:09:44,550 --> 01:09:53,970 see me do with you. So, audiobooks are better. It's more efficient. I could be driving and listen to it. I could be walking the dogs or exercising whatever I'm
279 01:09:53,970 --> 01:10:07,890 dealing I can be digesting a novel or book over a course of a couple All these. So well done TA. And I think that's going to be it. I will touch base with you
280 01:10:07,920 --> 01:10:18,990 obviously, on Sunday evening, probably between sometime between three o'clock and four, I'll start uploading some charts with some annotations and such. And I
281 01:10:18,990 --> 01:10:29,070 know I mentioned in, in closing and I noticed tends to go on and on and on. But I'm saying this and I'm not here, I mentioned how I was going to post on trading
282 01:10:29,070 --> 01:10:38,640 view. And I just don't want to have another thing to manage, like, I don't want to be doing that. So if I do any charts, it'll just be uploaded to Twitter. And
283 01:10:38,640 --> 01:10:47,190 that way you can see it. I mean, it's the same thing as being on trading view anyway. I just don't want to be obligated to do something in addition to what
284 01:10:47,190 --> 01:10:55,800 I'm already doing, which in my opinion, is mentorship level, you know, what I was doing? While I'm actually doing more than that now, because I'm doing the
285 01:10:55,800 --> 01:11:10,080 live streams, I'm talking to you on Twitter, spending the entire afternoon. Wonderfully distracting myself from all the rich Corinthian leather. I don't
286 01:11:10,080 --> 01:11:22,350 want to, I don't want to be trapped anywhere in stores with my wife in in a shopping dilemma. So I'm going to probably start talking to you if that ever
287 01:11:22,350 --> 01:11:33,270 happens again. So you'll get again, much more than you expected from this year is he's successful and taking me out into stores again. That's why you didn't
288 01:11:33,270 --> 01:11:42,090 get any kind of charts. You can get any kind of anything shared with you. No real recordings of anything because everything I was giving you today was read
289 01:11:42,090 --> 01:11:54,120 on my phone, which was not easy. But that's it. Enjoy the weekend. I'd find hope you had fun as well. If you learn something this week, let me know in Twitter,
290 01:11:54,300 --> 01:11:59,700 what you learned what you found insightful and what you're excited about going forward into the rest of this year.