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ICT YT - 2023-02-16 - ES Opening Session Commentary - February 16 2023

Last modified by Drunk Monkey on 2023-02-22 11:48

Overview

01:03 - New Week Opening Gap -.

03:21 - What is the New Week Opening Gap?

08:29 - Looking for a breakout in price action.

13:28 - What to do if you have a big range day.

18:27 - Mentoring and liquidity for pre-market.

25:12 - How to avoid problem areas in the market.

31:05 - What you’re doing when you’re using overbought and oversold indicators -.

36:07 - Why you shouldn’t comment on other people’s trades.

40:52 - When you’re learning to read the tape like this, you are not trying to impose your will, you are observing.

46:33 - If you go into a trade and you lose money, you've done that to yourself.

51:51 - You have to do your workspace management a little bit better -.

58:18 - What’s the purpose of all this?

01:05:13 - It’s scary because you don’t have to read this stuff live.

01:10:43 - Why do you hold on to a trade when you know the market could have turned around on you?

Transcription

1 00:01:03,120 --> 00:01:15,630 ICT: because you can give me an audio check I'm checking Twitter just give me a five by five you should be seen the risk disclaimer and my audio should be good
2 00:01:19,710 --> 00:01:22,470 I apologize stupid thing what and connect
3 00:01:33,000 --> 00:01:37,620 thank you thank you thank you we are looking at
4 00:01:46,770 --> 00:01:50,190 so we should be seeing ESGR chart
5 00:01:57,060 --> 00:02:11,610 Alright, so I'll walk you through on Twitter because I felt really bad see the movement ahead of the opening 930 We're still inside inside this large
6 00:02:11,640 --> 00:02:28,800 consolidation we have this week's new week opening gap in the constant encouragement of that level, previous new week opening gap that's up here
7 00:02:40,830 --> 00:02:53,670 traded through rejection block here. Failure broke down below the short term low. We have new week I'm sorry New Day opening gap, which is here.
8 00:03:09,810 --> 00:03:19,620 New Day governor, I'm sorry, New Day opening gap. Thank you for making that trend this morning, by the way, and do G and N W O G was trending on Twitter,
9 00:03:19,740 --> 00:03:28,350 which I thought was kind of cool. Almost missed it. Because I usually don't look at those types of things. But the new day opening gap is the closing price at
10 00:03:28,350 --> 00:03:46,350 5pm. And the opening price at 6pm New York local time. So there may be a gap. There may be no separation between bodies or wicks. Either way, you want to have
11 00:03:46,350 --> 00:03:54,810 the difference between those two price points and extend that out through the time of the trading day. Because the algorithm will reprice back to it multiple
12 00:03:54,810 --> 00:04:07,200 times. As you can see it does here. works around in the level here touches a here, the high end the high end and moves away from it. So we drew down into the
13 00:04:07,200 --> 00:04:23,520 new week opening gap from previous week. And consequat encouragement through it. I gave you 4113 As a drawl and liquidity, which would be below that right there.
14 00:04:23,970 --> 00:04:36,270 That's what I was using that low. So now what I'm looking for, because we came all the way down to new week opening gap consequent quotient which is the
15 00:04:36,270 --> 00:04:47,130 midpoint between the open and close, respectively for Friday's closing Sunday's opening price. I'm preparing a lecture so that way you guys know what it is
16 00:04:47,160 --> 00:04:56,280 you're doing with these specific areas and price action because they're algorithmic, okay, and I think just a few days working with them since last week
17 00:04:56,280 --> 00:05:03,930 when I first introduced it to the trading community and no my charter members don't even know anything about it. They learned it just like you did. Okay, so a
18 00:05:03,930 --> 00:05:11,400 charter member, someone that's been with me for a long time through my private group that I no longer host for new members. There isn't a future upsell so
19 00:05:11,400 --> 00:05:29,820 please stop listening to people droning on about him making you get all worked up for a future sale on that in here, watch this error here so 4117 and a
20 00:05:29,820 --> 00:05:46,230 quarter it's reasonable to expect if it's gonna bounce a little bit in here that's a reasonable price level to see, retrace back up into not that it needs
21 00:05:46,230 --> 00:05:50,040 to but it would be permissible might.
22 00:06:01,440 --> 00:06:13,860 Alright, let's drop down to five. And whenever there's a that's yes, yesterday's New Day opening, won't read up until fear of a gap between these candles learned
23 00:06:13,860 --> 00:06:16,260 that candles Hi. Beautiful delivery there.
24 00:06:24,420 --> 00:06:32,880 So since we've made our way all the way down to new week opening gap, the argument that I like to wrestle with when it does something like this is my
25 00:06:32,880 --> 00:06:41,730 internal dialogue is, are we looking to go below it, because we've already explored price above it and the previous new week opening gap. And we have
26 00:06:42,600 --> 00:06:54,450 repriced significantly lower from that. That being last week's new week opening gap. It's this level here to here and the dotted line here is the consequent
27 00:06:54,450 --> 00:07:07,200 quadrant or midpoint. And this week's new week opening gap and its respective midpoint or consequent encroachment. So when I'm looking at is, do we have the
28 00:07:07,230 --> 00:07:13,560 interest the seat depth below 4099 and a half?
29 00:07:23,670 --> 00:07:32,940 We've already went up into this fair pay gap here. repressions, consequat encouragement, cell sites below here. So I would want to see it animate your
30 00:07:32,940 --> 00:07:44,040 large range candles on the downside trade into like 1498 and see what we get once it trades there. Everybody think it's that it's easy to jump on get short
31 00:07:44,040 --> 00:07:58,470 because of what we've already seen. pre market before 930. And it's on the heels of the news embargo lifting at 830. I was prompting you to be aware of on
32 00:07:59,190 --> 00:08:14,940 Twitter. If you look at where we are right now, price wise, it's 4100. And regular trading hours. This is the gap between yesterday's trading up here, down
33 00:08:14,940 --> 00:08:26,850 here. So what I'm watching now is what we do once we don't man, we're below the new week opening gap. Typically what will happen is it'll accumulate here, run
34 00:08:26,850 --> 00:08:36,750 back up and start to work inside this gap. So I'm looking for that type of event here. Not that I'm seeing it here. I'm looking for that type of signature like I
35 00:08:36,750 --> 00:08:44,760 was explaining yesterday, I was outlining the lows, how they were suspect. And I was looking at s&p divergence and I told you real time the dollar index failing
36 00:08:44,760 --> 00:08:53,250 to make a higher high while es was making that lower low NASDAQ was making a lower low and Dow was making lower low. I call that turning point I gave you a
37 00:08:53,250 --> 00:09:02,700 very specific we weren't not lost in price action yesterday goobers we were specifically aiming at that breaker, I was teaching you how to use it, how to
38 00:09:02,700 --> 00:09:11,190 frame it, how the candles would respect it, the wicks are allowed to trade outside of it, that's fine. So now think about what we've seen here. The session
39 00:09:11,190 --> 00:09:28,410 is opened up this is all electronic trading. So far from the 930 opening. short sellers have sold and where's your stop loss up? Here, right above here. So
40 00:09:30,060 --> 00:09:41,400 generally, the chase price when it's a big move like this down, it's quick to punish those individuals that do that and you see traders that are real quick to
41 00:09:41,400 --> 00:09:54,270 trade in the first couple of minutes of trading. I am not a fan of that. I don't like that. Because this is the usual procedure that takes place. Retail sees it.
42 00:09:54,750 --> 00:10:03,240 They say oh wow, it's really down so far. Let's go short. So when they go short, the The traders that do use a stop are going to do what they're gonna put it
43 00:10:03,240 --> 00:10:06,240 right at the highest height, it's printing on their charts, which is right here.
44 00:10:12,960 --> 00:10:24,510 So what you want to do is on your chart, with the trading view, or otherwise, you want to use the high that's formed on the opening range that's gone thus
45 00:10:24,510 --> 00:10:36,630 far, up to the closing price. And you want to extend that to the right. And you want to use something that's more friendly on the eye, because this is too much.
46 00:10:37,650 --> 00:10:50,610 Okay, so what I'm looking at when I do that, when I dropped back into electronic trading, I have that range on my chart for you to see it. So that means all of
47 00:10:50,610 --> 00:10:59,940 that could be potentially challenged intraday, digging up into that. I'm not suggesting we're gonna go all the way back up there. But at least for the
48 00:10:59,940 --> 00:11:07,860 morning session, trading the opening range, which is the first 30 minutes of trading after 930, so 930 to 10. And there's the buy stop getting tripped on
49 00:11:07,980 --> 00:11:17,160 retail after taking out our new week. Opening gap low down here. So does that sound like we're lost in price action? We're lost in love. Okay, we know what
50 00:11:17,160 --> 00:11:31,980 we're looking for. So anyway, author here, we want to see does price want to go above that doesn't want to explore all that opening range gap. Because that's
51 00:11:31,980 --> 00:11:44,550 what we're referring to this as when we see a gap at 930. The opening range gap is the difference between yesterday's trading close to 930s. opening price. So
52 00:11:44,550 --> 00:11:59,100 opening range gap. For your notes, that's what we're referring to here. That is not new day opening gap. That's not new week opening. To now we have this candle
53 00:11:59,100 --> 00:12:03,660 here, you won't be watching this if we have a willingness to want to go above it.
54 00:12:17,040 --> 00:12:27,060 That's a breaker. We asked. Some twisted, because we have this low here. And then a lower leg that we went through on our new week. Opening gaps. Well, we
55 00:12:27,210 --> 00:12:35,220 went down below it. Now we traded back above where I told you the retail buyers thoughts would be Did you see a depth of market chart shown here that I
56 00:12:35,220 --> 00:12:44,640 reference any of that? No. We're looking at what the charts going to tell you the simple, open high, low and close. There's no necessity for anything extra.
57 00:12:45,360 --> 00:12:53,700 Anything I'm drawing on my chart is just to draw your attention to specific areas and price. But that's the only thing I'm annotating for the purpose of
58 00:12:53,700 --> 00:13:02,970 that only, I don't have this stuff on my chart. But to articulate what it is I'm referring to, I have to draw these things out. So that way it gives you
59 00:13:02,970 --> 00:13:18,420 conceptually a visual on where price should return, how it needs to consider other previous ranges, something to that effect. But because we have moved so
60 00:13:18,420 --> 00:13:32,940 far, so so far, from yesterday's close, now we're opening where we are now, the opening range gap. When it's this big, it makes the the very first half an hour,
61 00:13:32,940 --> 00:13:44,850 45 minutes, very tricky. So I treat it much like when we have a big range day, like say we have a afternoon session run that just explodes. And whether it's
62 00:13:44,850 --> 00:13:55,380 going up or down, and that matters not but that there's a big range, a very large range day yesterday. The morning session can be tricky. It can be choppy,
63 00:13:55,380 --> 00:14:04,650 it can go back and forth, take out by side, take ourselves out, take out take out by side take outs outside and then later on ones that it could be right
64 00:14:04,650 --> 00:14:14,400 before lunch in New York time around 11 o'clock or thereabouts, then it'll start a run that generally goes on the radar of most retail traders, they don't see it
65 00:14:14,400 --> 00:14:29,550 when it starts. And then the afternoon it will be a better trading opportunity. So what I like to do is I sacrifice this morning session. And I lean heavily on
66 00:14:30,210 --> 00:14:39,240 the 130 to four o'clock time period in the day. Because if it's going to trade back up inside of this shaded area here that I have in gray. That's a lot of
67 00:14:39,240 --> 00:14:49,890 range. And again, I'm not making the case it's going to go all the way back up there, at least not right away. But it's something that the market will likely
68 00:14:49,890 --> 00:15:04,170 want to consider revisiting. Unless now here's the only way it would be negated if we just correct Bucha just crashed. I'm not saying we're crashing, but I'm
69 00:15:04,170 --> 00:15:13,590 saying it. If it were to just completely fall out of bed and just find no traction at all and just want to go lower, then this type of range that's shaded
70 00:15:13,590 --> 00:15:25,980 in gray would just not even be considered it would just be a breakaway gap. So we want to look at this very vague up here. That's the next premium level.
71 00:15:40,500 --> 00:15:41,310 Too much Michael.
72 00:15:50,490 --> 00:15:58,890 Okay, so we came back down to consequent encouragement of the new week opening gap, which also is a order block with a fair value gap. So we want to see does
73 00:15:58,890 --> 00:16:09,480 it have the willingness to want to go above the short term high. If it does, watch and see how we react inside this Vega, if we were to trade up through it
74 00:16:09,510 --> 00:16:19,560 and act as support that would take us back up into the previous weeks and the week opening gavel out, we would aim for something like that. You should not be
75 00:16:19,560 --> 00:16:33,090 pressing the button this morning. Some of you already went nuts and got drunk on Twitter this morning, based on what I shared. So searching the new weak opening
76 00:16:33,090 --> 00:16:34,290 gap, hi.
77 00:16:41,940 --> 00:16:52,710 So I'm going to take this shaded area off you understand on your charts, this is what you should have is a visual reference to difference between where we were
78 00:16:52,710 --> 00:17:10,920 yesterday close and opening today. Okay, so I'm gonna take that off so it doesn't strike me too many. Too many things you looking at. disorient me so
79 00:17:10,920 --> 00:17:22,020 already, right away, you can see the first 20 minutes or so. It's doing what aimless listless trading, the only thing it's done so far is the two things I
80 00:17:22,020 --> 00:17:33,960 told you to do. Go down, sweep the new week opening, gap low, revert back to what the boss thoughts above the intraday high, because traders are doing what
81 00:17:33,990 --> 00:17:41,490 they're seeing that it's got down. So right away, they're fearful, they're gonna miss something, right? I'm afraid I'm afraid I'll get to get in here and do
82 00:17:41,490 --> 00:17:52,470 something. And they plunge headlong into the marketplace trying to be short. So they use their due diligence, they want to protect their position right there.
83 00:17:52,950 --> 00:18:00,390 They read all the books, they're short, and they put their stop loss in the protective capacity in the form of a buy stop above this high. they gravitate
84 00:18:00,390 --> 00:18:07,470 right to that. And like I mentioned, we went back down to counselor encroachment, new week opening gap consequent courage, I'm sorry, the new week
85 00:18:07,470 --> 00:18:16,860 opening gifts Hi. And now we're showing the bodies respecting that breaker again, that signature is what you want to see. And we've already seen it try to
86 00:18:17,100 --> 00:18:26,820 make I want to see it go through this high here. I'm not interested in the 4113 level anymore. It's already done its job now. So I'll take that off the chart.
87 00:18:27,660 --> 00:18:29,670 That was the withdrawal and liquidity for pre market.
88 00:18:36,690 --> 00:18:49,050 So think of that pink area up here is like a magnet. Okay? And price every new tick in price it moves up and down. Imagine there's being paper clips, okay. And
89 00:18:49,050 --> 00:18:57,870 the magnet is sitting right here in the shaded area. So if you throw a bunch of paper clips, at a desk, where a magnet sitting, where's the paper clips going to
90 00:18:57,870 --> 00:19:09,000 go? They're going to cluster around the magnet or within its magnetic field. And that's the analogy I like to use when I'm teaching my son's or new students.
91 00:19:09,870 --> 00:19:17,430 Much like everything else I've used. I have 1000 analogies, and now it's the teacher in me, I can't help myself. But it's makes a lot of sense that, you
92 00:19:17,430 --> 00:19:31,080 know, if, if you were watching every new tick, fall into the marketplace, okay, every time there's a new ticket price. where price is going is your number one
93 00:19:31,080 --> 00:19:39,420 goal right now as a new student, or if you're a trader that's struggling breakeven or never made profit, because you don't know where price is likely to
94 00:19:39,420 --> 00:19:47,940 go and you can't figure it out. You can't ascertain a consistent approach to reading price which lends well to analysis and trade setups and entry and
95 00:19:47,940 --> 00:19:56,820 targets and stops. Before we get into all those details, which is where you think you should be at right now. You need to understand what makes price go
96 00:19:56,820 --> 00:20:06,720 where it should go next. It's one thing to talk About after the fact and looks smart, which is, that's fine, you need it. And you're learning. Hindsight is
97 00:20:06,720 --> 00:20:18,180 essential for, for you the very first steps and understanding anything. But you have to have one primary skill set in the beginning, that sets the stage for
98 00:20:18,180 --> 00:20:33,180 your continued growth. And that is the understanding and learning of where price should go. Notice I'm saying should is not a definite, it's going to actually
99 00:20:33,180 --> 00:20:43,020 happen all the time. Because if I was 100%, accurate, I wouldn't trade what a stop loss, I would do full margin, no stops and just go go for broke, right. But
100 00:20:43,020 --> 00:20:55,200 because that's impossible, it's not realistic to expect that. And there's always this looming potential for a manual intervention where things can just simply go
101 00:20:55,230 --> 00:21:05,820 upside down a black swan event, something that you don't foresee coming out of your left field, and then boom, the market does does something that you and
102 00:21:05,820 --> 00:21:15,090 everybody else wasn't expecting, and that can harm you. So while we have to respect that measure of underlying risk, that's always there in any measure of
103 00:21:15,090 --> 00:21:28,410 speculation, whether it be Forex stocks, crypto or futures here. It should not be paralyzing. There are times when the market just isn't going to be the end of
104 00:21:28,410 --> 00:21:43,470 the world. And you can take opportunities and engage them. I think, look at what we've seen so far. Okay. This is what I'm referring to, as being mentored for
105 00:21:43,470 --> 00:21:53,040 real, not just reading a book or watching somebody on YouTube, whether it be me or someone else, understanding, understanding why the market will be difficult,
106 00:21:53,040 --> 00:22:03,210 when will it be easier? When should you trade before the 930 session? When should you wait for the 930 session that's being mentored, I'm teaching you that
107 00:22:03,240 --> 00:22:11,940 I'm literally walking you through it live every day, whether it be Twitter before I started doing live streams last Tuesday, and now I'm doing it both. So
108 00:22:11,940 --> 00:22:22,140 I'm giving you a complete immersion in what it's like to be properly mentored. We have buyside resting above here, surf is going to run through that what would
109 00:22:22,140 --> 00:22:28,440 be reasonable for reach above this area here, let me draw a line on so you can see it visually because you use the scene anyway.
110 00:22:36,930 --> 00:22:42,780 Last in price action that led to your Alright, so have
111 00:22:48,630 --> 00:23:08,250 by saying So for folks that have trailed their stop loss, that short. Give me one second to make this line. Obsessive I'm sorry. So if I sat here, so what's
112 00:23:08,250 --> 00:23:17,010 occurring and why that's even being referred to is the market has dropped free market, which we were looking for. We call all that and Twitter. The movement,
113 00:23:17,310 --> 00:23:26,310 here is a consolidation. And once it started breaking lower, everyone that was fortunate enough to be short, they have brushed their stop loss right above
114 00:23:26,310 --> 00:23:33,870 these relative equal highs because they see this as what retail sees that as resistance. So they're going to jammed or protective buy stop on their short
115 00:23:33,870 --> 00:23:44,070 positions, hoping that it goes to pay these today. And because their stop loss is sitting here, and I explained to you where to retail replacement stop here
116 00:23:44,100 --> 00:23:53,250 for those that just watch the opening value and see that it's on CNBC saying it's really down today, blah, blah, blah. So retail is going to do what they're
117 00:23:53,250 --> 00:24:04,950 gonna chase and dogpile in on doing what short they won't chase it going lower. So because I'm teaching you because we had a big event before 930, before the
118 00:24:04,950 --> 00:24:16,620 opening session at 930, and ringing the opening bell in stock market that sets the stage for what you're seeing here. choppy, listless price action, it denies
119 00:24:16,620 --> 00:24:25,890 them immediate continuation of downside. And it runs against those individuals that have already been profitable and still hold a position in the marketplace.
120 00:24:26,370 --> 00:24:40,170 So open float, open float is the liquidity resting above here. And the imbalance in here that's not liquidity that is going to be engineered liquidity later on.
121 00:24:40,410 --> 00:24:50,430 So this is inefficiency. So you have two things here, blending for why it should if it's not going to go lower. If it doesn't stay in a small range like we see
122 00:24:50,430 --> 00:25:04,950 here. Where is the money? The money is trailed above the recent highs, which we've seen it run here with that run here, here. And here. What I'm watching is,
123 00:25:05,580 --> 00:25:20,490 it was interesting see it not get above these right here with this little spike up. And we're just hanging around inside that breaker still. So when I'm
124 00:25:20,490 --> 00:25:30,720 teaching you like this, I'm telling you where the mark is going to be problematic when it's going to be choppy when it's going to be range bound. And
125 00:25:31,170 --> 00:25:41,520 none of the books I've ever purchased, none of the courses I've ever looked at purchased was shared with me. All of those things that are available out there,
126 00:25:41,730 --> 00:25:51,810 they never really adequately talked about how to avoid these problem areas. They just made excuses for you. Well, sometimes it's this random price action, it's
127 00:25:51,810 --> 00:26:00,570 not random, you can predict when these things are gonna occur, which is what you want to learn how to do, because you will learn that these are the very
128 00:26:00,570 --> 00:26:07,620 conditions that you blow your accountant, you'll get frustrated, you think everything's a turning point, oh, I was wrong here. And now it's turning the
129 00:26:07,620 --> 00:26:16,710 other direction. Oh, I got wrong there too. I mean, reverse is going the other direction. And before you know it, you got 70 trades on for the day, you've
130 00:26:16,710 --> 00:26:27,600 blown your account, commissions, and they've taken you to a point where you have literally nothing to even start with the next day. And you feel demoralized.
131 00:26:29,220 --> 00:26:40,050 Simply because you don't know how to identify where the markets going to be very, very uncooperative. Touching the new week opening gap Hi again.
132 00:26:52,440 --> 00:27:01,980 For those of you that don't follow me on Twitter, the satisfaction of everyone that was following me on Twitter this morning. We don't need any further
133 00:27:02,010 --> 00:27:13,890 movement today. We've already seen it pre market through the tweets and identification of the 4113 sellside according to a tweet this morning. So it's
134 00:27:13,890 --> 00:27:25,800 important that you have both. Twitter is my real time connection to you. Whether you like to be driven nuts all night long while you're sleeping or not. I'm
135 00:27:25,800 --> 00:27:34,620 going to tweet Okay, I'm going to tweet when I have something to say. So usually, it's going to be beneficial for you to have that one or alerts on
136 00:27:34,950 --> 00:27:36,480 before 7am New York local time.
137 00:27:45,180 --> 00:27:57,660 I don't have the fellas that I like to listen to. And the young lady. I like listening to that. Live streams. And now I'm not talking about Patrick Whelan
138 00:27:57,660 --> 00:28:08,130 and no not talking about trades by Matt. But there's a few other live streamers. I like watching. And I like reading their, their chat window. You know, when
139 00:28:08,130 --> 00:28:16,800 they have their live streams, they have everybody in the chat room, part of it. And they're all screaming what they think is gonna happen. And I like to look at
140 00:28:16,800 --> 00:28:27,750 those things when I see price action doing what I'm teaching you. If I see a heavy hand in the retail perspective, using those live streamers, chat rooms,
141 00:28:28,380 --> 00:28:38,610 not necessarily anything that does live streaming themselves are saying, but the ones that have a pretty good sizable following. retail traders, newbies noobs,
142 00:28:38,880 --> 00:28:48,570 they tend to be chatty, real chatty. And what they do is they toss their sentiment out into the abyss of the internet. And that's a wonderful asset for
143 00:28:48,570 --> 00:28:58,950 someone that knows how to use it. Because I'm looking at that, and I'm pairing that perspective of someone that's Street money, that they have no idea what
144 00:28:58,950 --> 00:29:07,830 smart money is. They're looking at something indicator based. And when they're collectively cheering on, oh, it's going to go here, it's going to go there,
145 00:29:07,830 --> 00:29:17,610 it's going to go up, we're going to go into the moon, whenever I see those emotionally charged statements, and it's almost like they know, it's almost like
146 00:29:17,610 --> 00:29:26,910 they absolutely know it's going to go there. When I see that. And I'm looking at a fair value gap or a PV array or drawn liquidity that would be opposed to that.
147 00:29:27,360 --> 00:29:38,790 It's almost like a lead pipe since betrayed. It's almost a guarantee and T that I'm going to be right. And it's not to be viewed as arrogant. Please don't read
148 00:29:38,790 --> 00:29:48,240 what is written to what I just said, as arrogance. It's just the way things are. It really is just like that, when someone that's new gets involved in this
149 00:29:48,240 --> 00:30:03,390 market or any market it's a mirror. And if they talk out loud, they're going to share their inside view Have what they want to see, they met, they think they're
150 00:30:03,390 --> 00:30:12,840 manifesting it like, I'm gonna advance I'm gonna manifest my wants and desires in the universe is going to bend to my will and give it to you give it to him.
151 00:30:13,230 --> 00:30:22,860 It doesn't work like that. But we can use those things. There's sentiment readings, there's gauges of sentiment through the lens of a neophyte trader. By
152 00:30:22,860 --> 00:30:33,390 having these lies. I love the fact that live streamers live stream, I love it, I have five of them that I use as a wonderful sentiment gauge, their chat window
153 00:30:33,960 --> 00:30:42,660 is the best overbought oversold indicator you ever have. And I don't need to have it plotted on my chart. I just got to scroll through, toggle through my
154 00:30:42,660 --> 00:30:50,610 windows on my browsers and see, okay, where are they at right now? Because if I see something that I think is pretty much a good idea, I'm gonna go over there
155 00:30:50,610 --> 00:30:58,710 and see what they what are they thinking. And if it's 100%, diametrically opposed to what I'm thinking it's done. I'm in there, I'm in full margin. I
156 00:30:58,710 --> 00:31:06,450 mean, far, as far as I can push it, I'm going to do it. And that might sound mean it might sound arrogant, it's not meant to be that way. But that's
157 00:31:06,450 --> 00:31:14,820 essentially what you're doing. When you're using overbought oversold indicators, you're you're trying to weigh the sentiment of people that follow indicators,
158 00:31:14,820 --> 00:31:28,230 right. So I don't have any moral dilemma with that. You can hate me for it if you want, but it's not against the youtubers themselves. It's the the wonderful
159 00:31:28,530 --> 00:31:44,280 medium they provide by allowing folks to share their sentiment. So we went back down inside of this very gap, touch the consequent encouragement of the new week
160 00:31:44,280 --> 00:31:57,270 opening gap. Still listless, still range bound. Nothing stands out is obvious. Nothing's a clear trade nothing here that gets me excited about wanting to do
161 00:31:57,270 --> 00:32:08,820 anything. We're not lost in price action, we're just waiting for an obvious tip of the hand, by the marketplace. And right now, it's just chopping people up.
162 00:32:09,990 --> 00:32:18,930 Everything that looks like a trade, they're gonna second guess it every time it retraces back to the middle, middle of what ICT. The low is formed here. And the
163 00:32:18,930 --> 00:32:29,940 high here it says gravitating back and forth, back and forth. It's working the upper boundary of the new week opening gap. So if it were to take out the low
164 00:32:29,940 --> 00:32:48,000 the new week opening gap, which is here and below this low with acceleration on the downside, then we might need to go into the 4089. But I would have rather
165 00:32:48,000 --> 00:32:51,120 seen it take out the buy side before it would do something like that.
166 00:33:00,120 --> 00:33:07,920 There's gonna be lots of small little fluctuations and movements in these live streams that I'm not interested in. But if you see them as a setup, if you see
167 00:33:07,920 --> 00:33:20,310 them that it resonates with you, based on the things I've taught, or that you understand about your own exploration and reading the tape real real time. Don't
168 00:33:20,310 --> 00:33:29,700 let me or anyone else discourage you in that pursuit because I allow that to happen in my own trading. When I was a 20 year old I, I had it figured out
169 00:33:29,700 --> 00:33:40,440 earlier than I realized. But I kept tinkering with it. I kept adding things and taking things away and changing things and putting more emphasis on silly things
170 00:33:40,440 --> 00:33:53,550 that had nothing to do with what price was doing. So I think right now, if you were to look at what we've seen, we've seen essentially 33 minutes of trading,
171 00:33:53,880 --> 00:34:06,000 since 930. is opening. Sitting with someone that can tell you when it's going to be like this. Doesn't it feel empowering? Doesn't it feel empowering to know
172 00:34:06,000 --> 00:34:14,010 that you can predict when it's going to be harder than it needs to be for you push the button, if you're going into the marketplace, and you're looking for
173 00:34:14,010 --> 00:34:22,200 opportunity, and you want these opportunities to present themselves where they run away real quick from your entry, and quickly jump to your targets. That's
174 00:34:22,200 --> 00:34:30,120 what every trader wants. But unfortunately, most of the time because you're looking at books, or you're chasing the excitement or fear of missing out FOMO
175 00:34:31,020 --> 00:34:39,360 you see the movement in price action that you weren't a participant in and you think yourself, I gotta get something on that I may not have been the entirety
176 00:34:39,570 --> 00:34:46,200 of the move. But I gotta get in there and say, Yeah, I had some of that, because I can feel like I'm part of the clique on social media and they all say they had
177 00:34:46,200 --> 00:34:57,870 it, but they didn't call beforehand. That fear of missing out is conquered. It's it's defeated. When you understand when there's times when you shouldn't be
178 00:34:57,870 --> 00:35:06,690 doing anything and you're not going to ever second guess it. That's empowerment, that's maturity as a as a developing student. That's one of the hardest things
179 00:35:06,690 --> 00:35:19,530 to overcome. As a new trader in development is keeping up with everybody else on social media. That's not necessary. In fact, it's, it's a problem. Keeping Up
180 00:35:19,530 --> 00:35:27,540 with the Joneses is an expression you have in the US. And you certainly don't want to be trying to do that, as a trader, you shouldn't be trying to keep up
181 00:35:27,540 --> 00:35:33,990 with me, you shouldn't be trying to keep up with someone else. And you shouldn't be trying to compare and contrast your results with someone else's, because you
182 00:35:33,990 --> 00:35:42,030 don't know where you're going. And they, you may be looking at someone that has already peaked in their learning in their aptitude, their skill set may have
183 00:35:42,060 --> 00:35:50,310 arrived at the highest point. And you see them in relationship to your present understanding about what it is you see in price. And you may look at that as I'm
184 00:35:50,310 --> 00:36:00,720 not as good as them. And you defeat yourself mentally, when you're really designed to be far better than them eventually. So you should never look at
185 00:36:00,720 --> 00:36:13,380 someone in greater your prowess or understanding in relationship to them. I didn't do that. I never wanted to be a part of that type of thinking. I've
186 00:36:13,380 --> 00:36:21,540 always adapted the mindset that there's nobody that's going to be able to do this better than me. And I just got to give myself the time inside the cocoon
187 00:36:21,600 --> 00:36:39,960 where nobody knows me. And then I'll come out and show the world do you like my colors? Do you like my wings I'm being funny. So it's not funny ice thing. So
188 00:36:39,960 --> 00:36:51,420 here we are meandering around, we're gonna pick up and touch that breaker I want to see it erode all the way through this and get back on the upside of it. Not
189 00:36:51,420 --> 00:37:03,570 because I want to be right. Not because I want to take a trade is I want to see it move away from the consequent encroachment or the new week opening gap.
190 00:37:18,180 --> 00:37:30,840 I would love to hear the internal dialogue of those individuals that have tried pushing the button in the got stopped out or scared and went the other direction
191 00:37:30,870 --> 00:37:47,010 all through these first 36 minutes of trading. And here you are calm, cool and collected. Not worrying about nothing. Just chillin. Observing, reaping the
192 00:37:47,010 --> 00:37:56,250 benefits of new experience, understanding why you should do something why you shouldn't do something. There's no impulsive tendencies, because you have
193 00:37:56,250 --> 00:38:05,580 anything risk. There's no monetary attachment to this, your reading price. And you're actually growing better as a trader right now, but you just don't have a
194 00:38:05,580 --> 00:38:13,140 measurement to compare it to. A month from now you're gonna see how much you've improved. Three months from now, you're gonna feel like a totally different
195 00:38:13,140 --> 00:38:25,080 person. Right now it just feels like this guy's not talking about a trade man. Get on with it. I mean, go watch so and so. Pip Slayer. Let me go watch. Market
196 00:38:25,080 --> 00:38:35,040 Maven, the market murderer, the market marauders. All these YouTubers. I don't even know if there's, if there's somebody that has those names. Just know that
197 00:38:35,040 --> 00:38:44,700 I'm just pulling names out there. I'm not trying to name anybody your name drop, but they want to chase somebody that the mimic and take trades on. I want you to
198 00:38:44,700 --> 00:38:53,250 know when to do something when not to do something. But when you know when you want to do it, it's more likely to see it deliver in price. And it's immediate
199 00:38:53,250 --> 00:39:02,040 gratification. Not man, I hope it goes here. Let me go on to the chat rooms on this guy's lashing. Hey, does anybody think it's gonna go here? Do you think
200 00:39:02,040 --> 00:39:10,680 it's a good long? If you're asking what anybody else is thinking about your trade? It's not your trade. That's why I don't like to comment on other people's
201 00:39:10,680 --> 00:39:20,130 trades, because I'm not going to manage it for you. And don't make your trades known publicly. Don't do that. Because you're inviting feedback that you really
202 00:39:20,130 --> 00:39:29,100 don't want. All it's gonna do is confuse you second guess your analysis. You don't believe me? Ask my students that can be profitable. And then when I talk
203 00:39:29,100 --> 00:39:36,510 about what I like, it scares them out of their trade. And when they get out or collapse it or do something entirely different. Their trade would have panned
204 00:39:36,510 --> 00:39:46,200 out and their customers were both right. But they get shaken out of their trade because of their respect for me. And that's why I'm telling you repeatedly in
205 00:39:46,200 --> 00:39:56,820 these live streams and in tweets and Twitter spaces when I'm doing those rants and such. Don't let me influence an idea that you have co signed whether it's
206 00:39:56,820 --> 00:40:05,640 fruitful and comes to fruition or if it fails on you. You're going to learn from that. You're going to learn from your failures. So just let it happen. And you
207 00:40:05,640 --> 00:40:15,570 want to be watching price when it's like this. This is how you identify what it's like when you don't want to be in the trade. This is what you get chopped
208 00:40:15,570 --> 00:40:26,520 up in. Nobody writes books about this, nobody makes video courses or chapters in their mentorships that cover this because they have no idea what the hell
209 00:40:26,520 --> 00:40:38,160 they're doing. That's the, that's the way to nail it down in the most simplest terms, they don't know what they're doing. And you see them on their last names,
210 00:40:38,160 --> 00:40:48,570 and they're trading 16 2040 contracts in a simulator, trying to correct their drawdown to save face. And they're doing it in environments that are not
211 00:40:48,570 --> 00:41:01,110 conducive for high probability trading. There's a better way of doing it. I like how it came down to the low end of that fear, I get stuff when I say Vega.
212 00:41:01,740 --> 00:41:17,490 Bullish breaker here, with this low touch the bottom end of that shaded area. So see if we can get a lift up out of that reprice into this buy side. The outcome,
213 00:41:18,390 --> 00:41:28,740 when you're learning to read the tape like this, you are not trying to impose your will you're observing. Okay, this is what you're supposed to be taking away
214 00:41:28,740 --> 00:41:40,770 from this event every time you sit down with me. You don't realize it. But by watching price like this, subconsciously, you're seeing things that will be
215 00:41:40,770 --> 00:41:51,000 identified at a later time in future subsequent live streams, where you see me talk about something that repeats, and you're like, I see something here, and
216 00:41:51,000 --> 00:42:00,330 then I'm going to mention it. And it's going to make you smile, because you're you're going to I knew I saw that before you said it. That's growth. That's
217 00:42:00,330 --> 00:42:08,520 progress. But if you're here for the first couple times, and we all here, we are all here rather, for the first few times because I only started going live
218 00:42:08,520 --> 00:42:21,780 streaming last Tuesday. But you're gonna feel more empowered. By doing this without the outcome, needing to be favorable for you. I was talking to a well
219 00:42:21,780 --> 00:42:32,910 known trader that has a pretty good following this morning early on. And I mentioned how you trading in front of people. And there's the buyside liquidity
220 00:42:32,910 --> 00:42:41,970 by the way, and Powell just mentioned as it was going on. The we want to see it try to get through and maybe trade up into this area here, which is this
221 00:42:42,000 --> 00:42:49,830 imbalance. This to me is a little too shallow. I mean, it's effective enough to run the buy side, but I would expect to see a little bit more pronounced run
222 00:42:49,830 --> 00:43:00,780 higher. I'm not trying to call the higher run all day long. I'm just saying I want to see it trade up into this, this very idea. And I'll talk about why that
223 00:43:00,810 --> 00:43:12,090 is even useful. And why would why would we concern ourselves with it? Once it gets there where their quote unquote Trent look for that. Which is midpoint in
224 00:43:12,090 --> 00:43:29,700 here. The Bob Ross of trading Mr. Mellow, never surprised. I'll tell you, when it gets boring, you're on the right track. If you're excited, and you're all
225 00:43:29,700 --> 00:43:38,490 hopped up on goofballs, because you're watching price, and you can't wait to push the trigger, you're not ready to trade. When you're bored, and you're not
226 00:43:39,060 --> 00:43:48,510 really interested in the end outcome. That's how your trades need to be. They need to be viewed that way where I don't care if it goes where I want to go. I'm
227 00:43:48,510 --> 00:44:02,010 just following the logic. If you follow the logic repetitively and you're not swayed by emotions, you're not swayed by greed or fear, you're going to be an
228 00:44:02,010 --> 00:44:12,420 exceptional trader, you're going to be so formidable, you're going to be able to find things that the average trader isn't going to be able to. And it's gonna
229 00:44:12,420 --> 00:44:21,270 feel amazing. When you look around, and you see what everybody else is doing. They may be profitable. But you're gonna be doing things that are light years
230 00:44:21,270 --> 00:44:32,790 ahead of everyone else. And it's in, it's an enriching experience as a trader, you just feel dialed in. And there's no way really to articulate it except for
231 00:44:32,790 --> 00:44:39,900 you have to experience that. And some of you have already experienced that by looking at the things that I've been teaching the last few days. You're seeing
232 00:44:39,900 --> 00:44:50,790 it in your own chart and that epiphany, that moment of aha, wow. Where the veil was pulled back just a little bit and you take a peek on the other side. And you
233 00:44:50,790 --> 00:45:02,520 think these things are not random. These markets are not random. And you can predict them. You can see them you can anticipate eat them. So anyway, I was
234 00:45:02,520 --> 00:45:16,890 talking to a trader that pretty well known and I have respect for it. And they were sharing their concerns about feedback that they receive and such. And one
235 00:45:16,890 --> 00:45:25,800 of the things I mentioned to them, and I've mentioned it very publicly to you all as well. The tape reading like this in front of you without a safety net. I
236 00:45:25,800 --> 00:45:34,860 don't I don't have any problems with this, because I've already warned extensively not to take it as trade signals, because it's not, nobody can I
237 00:45:34,860 --> 00:45:42,600 mean, the Feds could be sitting here listening, nothing in here said, Buy here, sell here, put your stop, you're trying to make this much money. We're watching
238 00:45:42,600 --> 00:45:49,530 candlesticks paint, that's it, that's all we're doing. That's how I did my mentorship. It's all price action, you're learning how to read price action,
239 00:45:49,560 --> 00:46:01,290 it's not trade signals, there's no risk of losing anything, there's no hope to make any profits. It's just learning how to read the chart itself. I leave the
240 00:46:01,290 --> 00:46:12,600 viewer, the students themselves to decide whether or not they have found something on their own, by using this information, directly or indirectly. And
241 00:46:12,600 --> 00:46:21,690 when they choose to go into a live account setting they've done so without me doing that, or inspiring it not to the degree where he would go with this
242 00:46:21,690 --> 00:46:32,670 broker, or use this, you know, this particular broker to trade with I don't do that. So it's always paper trading and demo. And it relieves me of any financial
243 00:46:32,670 --> 00:46:42,030 responsibility. Zero, I have none. Because if you go into a trade, and you lose money, you've done that to yourself. It matters not what you've heard me teach
244 00:46:42,030 --> 00:46:53,460 in the past, I didn't tell you get in that trade. And I have a lot of respect for people that trade publicly. Look at the the bodies respecting the low the
245 00:46:53,460 --> 00:47:05,970 fair value gap. Now we're back down into this bush breaker if we lose it now, if we trade below it, because we have gone up into an area that had my interest
246 00:47:05,970 --> 00:47:12,660 this morning. This to me, this running up here into this area here is much more meaningful.
247 00:47:13,680 --> 00:47:24,960 And it is, in some ways, allowing for if it were to break below this breaker and act as resistance, then we could explore lower lows. But notice what I wasn't
248 00:47:24,960 --> 00:47:33,150 giving you the commentary earlier, I would have favored this here, running the buy side and going into this area here. Because what would be the mechanics
249 00:47:33,150 --> 00:47:43,830 behind that and why it is noteworthy for me. And don't worry, I'll come back to the conversation I was having a moment ago, the buy stops here. If the market
250 00:47:43,830 --> 00:47:54,000 trades there and goes up in this area here, we're at a short term premium. So if we were to lose this bullish breaker, which is shaded here, and trade down below
251 00:47:54,000 --> 00:48:04,950 it and act as resistance, that comes a potential catalyst for lower prices on the day. But notice that had the trade to a premium. And I'm not saying it's
252 00:48:04,950 --> 00:48:16,530 gonna go down here, but it to me, it would be worthwhile to see this very thing happening here, versus just opening at 930. And just cascading lower. You follow
253 00:48:16,530 --> 00:48:25,560 what I'm saying? Meaning that everyone else just wanted to go short, right from Jump Street, right at 930. And at 930. They gave them that little cookie made
254 00:48:25,560 --> 00:48:33,060 them feel like they're on the right side of the marketplace, allowing them to put what buy stops here. Also, anyone that didn't Trailer Stop Loss here, while
255 00:48:33,060 --> 00:48:41,850 being short, early on. Now they have their stop here. And here. So there's two pools of liquidity with an unbalanced shaded in this area here. So if it were to
256 00:48:41,850 --> 00:48:51,000 go lower, okay. It would be better for you to wait, if you were trying to go short or looking for a reason to be short. It would be better for you to wait
257 00:48:51,540 --> 00:49:01,740 for buyside to be taken out like it's done than done here and trade off in his inefficiency and then judge what price is done after that? Has it sold off?
258 00:49:01,740 --> 00:49:12,900 Since it hit that? Yes. Did the breaker respect it? Or I'm sorry, the price respect that breaker it has Rebecca inside that fair value got this shaded in
259 00:49:12,900 --> 00:49:26,580 pink. So we would not want to see it show support in this. It's the PD array, which is the breaker itself this candle here. It's not simply this old high draw
260 00:49:26,580 --> 00:49:35,940 a line out resistance broken turn support. We're looking at how does it react when it gets there, and you're constantly weighing that this price respect these
261 00:49:35,940 --> 00:49:45,360 PD arrays. And it since it's respecting it, you don't want to hold on to the idea. Okay. Now, if you were thinking about going short, my method teaches you
262 00:49:45,570 --> 00:49:56,010 you'd have to see that breaker be broken and then come back up to it and act as what then resistance. You can't just simply say oh, we have a fair value gap.
263 00:49:56,100 --> 00:50:03,930 Let's go short here and expect it to go right out these relative equal lows. There's a logic It's being taught to you, you have to see certain things to
264 00:50:03,930 --> 00:50:16,320 qualify whether or not something should be there. And we have such a large gap from yesterday's close to where we opened this morning, this entire fair value
265 00:50:16,320 --> 00:50:24,420 gap. We were at now consequent coachmen in that it should expand up into the high end of it. And if we run through it come back down and touch support, it
266 00:50:24,420 --> 00:50:36,900 may act as a catalyst or springboard to take us up into closing in small little remaining balance of this fair value gap. And then up into here, which will be
267 00:50:36,900 --> 00:50:50,160 what the previous week's new week opening gap low. And then we'll be digging up into the difference between Friday's closing price. And where we opened at 930.
268 00:50:59,490 --> 00:51:07,890 So the the the other trader, I was telling you about it. He got he calls the market. He's out there, he's showing people you know what he's doing with his
269 00:51:07,890 --> 00:51:18,390 money and how he's risking it and such. And I have a lot of respect for that anybody else that's live streaming to that pushes the button. area, we pierce
270 00:51:18,390 --> 00:51:35,400 through that through Vega. So now you want to watch it feel like we're lost in price. I'm just curious. Lost. So we have that sign a little remaining portion
271 00:51:35,400 --> 00:51:46,470 there. And yes, we've already talked about how one tick is enough that I'd like to see it run through that pretty new quickly, not just tap it. But then we turn
272 00:51:46,470 --> 00:51:58,260 it back to the old previous week's new week opening get low. And I'm unfortunately, having a lot of things on my chart. But I saw somebody posting on
273 00:51:58,440 --> 00:52:09,660 Twitter, they said, I have too many damn lines on my chart. Now. You have to do your workspace management a little bit better. One chart. And unfortunately,
274 00:52:09,660 --> 00:52:18,360 because I'm presenting to you and I'm kind of coaching you through price action, I have to show you where my new week opening gaps are, that I feel are pertinent
275 00:52:18,360 --> 00:52:28,920 to price right now. But you should not be trying to operate and do all your other analysis and lipsticks like the fair pay gap I have here and I'll you know
276 00:52:28,920 --> 00:52:38,610 the breaker, it's too much your eye will not see the things you need to see. If you're putting it all on your you can't have a kitchen sink approach. Just
277 00:52:38,610 --> 00:52:47,790 because I have it in my repertoire in my arsenal, and now you're adopting as well as a weapon for you. It doesn't mean throw it on a chart had a chart that
278 00:52:47,790 --> 00:53:01,470 you refer to with just New Day opening gaps. New week opening gaps, that's a separate chart just shows those only, no other annotations, none. So that way,
279 00:53:01,560 --> 00:53:12,120 it allows you to toggle through when price is moving around. It allows you to take your attention away from well, what we have here, I have the bush breaker
280 00:53:12,870 --> 00:53:21,870 despite liquidity pool relatively equal highs, and the city here in the form of this fair value gap in the consequent encroachment. So that's a whole lot of
281 00:53:21,870 --> 00:53:33,960 lipstick with this new week opening gap to. So while you're looking at price, it's like looking at cars going by on the street, it's hard to focus in, there's
282 00:53:33,960 --> 00:53:40,860 always something needed to draw your attention somewhere else. So if you're going to be referring to a conceptual idea that I've taught you, and it may be
283 00:53:40,860 --> 00:53:48,330 something else outside of what I teach you that you'd like to still use, I don't know what that would be. But whatever it is, you want to have a chart or a
284 00:53:48,330 --> 00:54:02,130 template in your platform that you call on just for that purpose. So your chart remains naked, but only provide you that that visual point of reference that
285 00:54:02,130 --> 00:54:09,840 you're looking for like new week, opening gaps and New Day opening gaps. So you don't want to have too many things in your chart. But unfortunately, to prevent
286 00:54:09,840 --> 00:54:17,550 myself from losing track of where I am and doing something and not talk about the right chart, which is what I've done one time already in a in a previous
287 00:54:17,610 --> 00:54:27,960 live stream. I'm learning how to do this. I don't claim to be a good streamer, or a good YouTuber. So I'm trying to do my best to get better at it so that way
288 00:54:27,990 --> 00:54:38,340 I'm more helpful to you. But because I'm still in my early stages of learning how to do this efficiently as a streamer, unfortunately my charts gonna have a
289 00:54:38,340 --> 00:54:46,230 little bit more lipstick and more things on it than you should. So don't look at this chart thinking oh, I should have my chart look like that. No. And once I
290 00:54:46,230 --> 00:54:59,190 have a an idea where I see the breaker is again I don't have that on my chart. Like it's not there on on mine. It's here for you to learn from it. See I can
291 00:54:59,190 --> 00:55:07,320 see that low that Hi, that lower low, Mike goes right to that in the candle here, I look at the range, I knew the prices, and I write those prices down on a
292 00:55:07,320 --> 00:55:21,000 little yellow notepad next to my screens. And I'm referring more to that piece of paper that has my levels on it, than I am on a chart with annotations. I'm an
293 00:55:21,030 --> 00:55:33,360 I'm a numbers guy, not this visual, new artistic flair, it's only for your benefit, because most of you need it conceptually shown to you on a chart. So
294 00:55:33,510 --> 00:55:44,220 let's take a look at what we've covered so far this morning. And then I'll come back and close my discussion about the other trader I was telling you about. So
295 00:55:44,220 --> 00:56:02,040 we opened up at 930. With a large gap lower, we saw price trade from that opening gap here, small little rally up, drop down into new week, opening gap
296 00:56:02,040 --> 00:56:12,150 low, setting the stage for buyside to be placed above the short term high. And then we also see these relative equal highs. So wherever there is a market area
297 00:56:12,150 --> 00:56:25,140 that is too smooth, okay, that means lows are relatively the same, or highs are relatively the same. That looks like a ceiling. Okay. Whenever that's like that,
298 00:56:25,620 --> 00:56:35,460 that smooth edge is likely to be made jagged. That means it's going to tear through that upset that smoothness. We seen that here. It's Mark came down into
299 00:56:35,460 --> 00:56:43,350 our bullish breaker. I mentioned that if we were to go lower, it would need to go through the breaker come back up and act as resistance. Did it do that? No.
300 00:56:44,010 --> 00:56:54,600 It respected the breaker. So now price goes higher. What actually happens after that this down close candle that trades into the bullish breaker does what
301 00:56:55,110 --> 00:57:10,170 becomes a bullish order block that candles high 4114 and a quarter becomes the low of this candle here. 4114 and a quarter? So what we're seeing is a bullish
302 00:57:10,170 --> 00:57:21,600 breaker supports price, it repels it. Yes. Does this down close candle support price here? Yes, we dig up and through, which is why I said I want to see it
303 00:57:21,600 --> 00:57:33,510 trades at the upper end of this pink shaded area, that in itself. From here to the top of that fair value gap there. That's a five handle run, just with the
304 00:57:33,510 --> 00:57:44,250 logic I showed you there. That's a trade idea. That's a setup that could have been utilized for you as a engagement. Go back into your own charts and log that
305 00:57:44,250 --> 00:57:55,290 as an example of watching where delivers there. I mean, I walked you through it real time when it was there. But this also this trade down here. When we turn
306 00:57:55,290 --> 00:58:03,180 back to the breaker See, this is what you're familiar with. This is how I teach it on my YouTube channel. Here's the breaker it needs to leave it and then come
307 00:58:03,180 --> 00:58:17,010 back down into it. That's your classic ICT bullish breaker entry. That's the setup. That's the setup. Targeting is constitute encroachment in the high end of
308 00:58:17,010 --> 00:58:25,350 the area. Yeah. Where's their five handles and all that. That's for you to determine? And look for that going forward? If it doesn't make any sense to you,
309 00:58:25,380 --> 00:58:33,090 for those that are trying to figure out what we're doing here. Why? What's the purpose of all this, you're going to find your own setup, you're going to see it
310 00:58:33,120 --> 00:58:42,960 repeat, you're going to see me talk about things that confirm your observations. I may not say in verbatim what you're seeing or expecting in price action. But
311 00:58:42,960 --> 00:58:56,550 I'll give you a 30 year experience perspective on something that you have been expecting more insight on, or a confirmation by me, if I see it, if I talk about
312 00:58:56,550 --> 00:59:06,900 it real time, and you see it, and then all of a sudden now that epiphany happens, you've been confirmed, the thing you're looking for has been now
313 00:59:06,900 --> 00:59:16,560 qualified. It's valid. So therefore now you get the confidence to go forward and look forward continuously. For me. That becomes your model. I didn't push you
314 00:59:16,560 --> 00:59:28,560 into that. I didn't write a chapter in a book or make a particular video series that made you only destroyed that model. You discovered it organically being
315 00:59:28,560 --> 00:59:37,740 here over time, reading real time, price action. That's the best way to learn. It doesn't feel like that if you're new, it feels like we're wasting time,
316 00:59:37,740 --> 00:59:52,290 right? You're not wasting any time. You're learning how to engage, decipher read, price action. What is it likely to do next? Where should it go? If you
317 00:59:52,290 --> 01:00:02,970 can't see that you can't see the benefit of I'm walking you through every individual candle here and so on a one minute chart What happens if this is a 15
318 01:00:02,970 --> 01:00:12,900 minute chart to hold up more handles, isn't it? So I give you the one minute perspective to prove that even the folks that say, Oh, your, your live streams,
319 01:00:13,200 --> 01:00:24,810 got a 32nd delay or 22nd delay, implying that I'm doing something surreptitiously. I'm talking nonstop. There's no other way for me to say
320 01:00:24,810 --> 01:00:33,570 something else in another separate live stream. There's no way for me to keep you from receiving what I broadcast on this live stream. If I said it in my mic
321 01:00:33,570 --> 01:00:41,100 is on, you're hearing everything I'm saying there's no alternative view. If I say I think it's going to go here, it's either going there or it doesn't go
322 01:00:41,100 --> 01:00:53,760 there. It needs to respect this level and start going here. If it doesn't do that, then there's no algorithm. It's playing right simple. So anyway,
323 01:00:56,310 --> 01:01:07,290 we talked about how that trailed stop loss idea on shorts, here. And here would be the target. After it traded down into here. When it was trading right here. I
324 01:01:07,290 --> 01:01:16,200 said we want to watch and see now because we hit our objective to the levels I've taught you, which is the new week opening gap. The algorithm reprice is
325 01:01:16,200 --> 01:01:24,690 down here, just like I talked about yesterday, when we were not locked in price action, I told you, we swept the lows, now we're going to take it up to the buy
326 01:01:24,690 --> 01:01:35,160 side, there was no changing of gears, there was no another different view it was we were going higher. I gave you that again, right here on a minute basis, told
327 01:01:35,160 --> 01:01:43,470 you is going to go here. And then like to see it sweep here, and then go up. And that is fair, Vega did your chart print that. And we're still here live right
328 01:01:43,470 --> 01:01:54,120 now. Did your chart do that? I'm quite certain that your chart no matter what broker you use, shows that same thing unfolding on your charts live. You see it,
329 01:01:54,120 --> 01:02:08,280 you've handled it now. There's several five handle and now forming potentially a 10 handle run that you've sat here with me, I've given you all the things that
330 01:02:08,280 --> 01:02:20,100 you would look for. But you're talking too much. Go back and show me what's going on right now. The order block was supported here, price ran to the top end
331 01:02:20,100 --> 01:02:35,040 of the fair value. Then we traded back down to what the low end of the city. So this candles high 4116. Even we trade down to that and one tick lower which is
332 01:02:35,670 --> 01:02:45,060 41 15.751, tick lower. Remember what I taught you about the wicks. That's where the damage is done. The bodies of the candles are going to be telling you the
333 01:02:45,060 --> 01:02:55,020 narrative the story, we trade back down, dig into what the low end of the fair value gap, which is this candle specifically right here. Okay, this down close
334 01:02:55,020 --> 01:03:05,400 candle. These two consecutive down close candles while this was a bullish order block here, when there's two of them consecutively. If we trade away from it,
335 01:03:05,430 --> 01:03:15,240 you have to refer to that as the order block as well. It's all one consecutive change in the state of delivery. Meaning what the opening price of highly
336 01:03:15,240 --> 01:03:22,650 sensitive if we are bullish, the market trades down to it here. And it's coupled with what the low of the fair value gap that I drew your attention to well
337 01:03:22,650 --> 01:03:35,940 before it even formed or not formed. But before it was drawn up into. So this is in itself what what is this? It's three things. This love trading two, this is a
338 01:03:36,570 --> 01:03:53,100 low on a fair value gap. While order flow is bullish, it's also an order block a bullish order block. And it's a mitigation block. What is that? Well, it's the
339 01:03:53,100 --> 01:04:02,250 opposite of a breaker. A breaker is where you have a low, high, lower low. And when price comes back down into it, it's typically going to support prices and
340 01:04:02,250 --> 01:04:14,430 the higher. A mitigation block is where you have a low, high a higher low. And when it trades back down into that it'll support prices. Well if your narrative
341 01:04:14,430 --> 01:04:22,920 is correct, if you're assuming prices bullish in every other previous thing we've shown here, all these signatures are qualifying what bullish order flow.
342 01:04:23,640 --> 01:04:38,040 So from here to this high here that run five handles from a discount to external range liquidity, which would bought the buy side liquidity right here. Think of
343 01:04:38,040 --> 01:04:46,650 this high being the same thing I outlined over here. Someone went short here. I don't care to know how many contracts they are holding. I don't care who it is.
344 01:04:47,430 --> 01:04:56,940 If the market dropped someone chased it. So they're going to place a stop loss above that in the form of what biceps so you can look at this as an ideal entry
345 01:04:56,970 --> 01:05:07,080 as a short term trader intraday scalping you could be a buyer here. And your limit order would be raytech Candles high. Soon as it went through it here. You
346 01:05:07,080 --> 01:05:16,350 have taken profit much in the same way you could be a buyer down here as soon as this candle hits it. It's scary because you haven't done it before. It's scary
347 01:05:16,350 --> 01:05:25,830 because you don't have to read this stuff live but you're seeing it can be done. No scared fearing of doing it wrong. You hear me stuttering because I think I'm
348 01:05:25,830 --> 01:05:36,510 gonna be wrong now. This is old hat to me. And it will be old hat to you too. And these are hard conditions. I can't wait to this market loosens up live or
349 01:05:36,510 --> 01:05:43,320 you're gonna have a whole lot of fun with me this year. You're really going to miss me in November because this time you're like i All I Want For Christmas Is
350 01:05:43,320 --> 01:05:52,740 ICTD come back in 2020 for live streaming, please. Oh, now my stuff your stockings next year to depends might not be everyday like this, but we might do
351 01:05:52,740 --> 01:06:03,240 one a week. So here's that next draw on liquidity. We're looking for the small little micro separation between this candles low and that candles high?
352 01:06:18,390 --> 01:06:19,650 Give me a
353 01:06:24,930 --> 01:06:33,660 hell yes. On Twitter, if you're enjoying these live streams, if this is helping you it's making sense. You're watching it over time, real time watching these
354 01:06:33,660 --> 01:06:42,210 candles paint explaining what they should be doing next tweet to me on Twitter. Hell yeah. And that will be an encouragement to me today. That's the feedback
355 01:06:42,210 --> 01:06:45,180 I'm looking for for today's experience.
356 01:06:54,930 --> 01:07:06,060 At 1045, I'm going to close this one for today. But I'll finish what I was saying earlier about the other trader that I like, and have respect for he
357 01:07:06,060 --> 01:07:21,810 causes moves and such. And he's, he's mentioned that he's had some opinions shared in his direction. And I admitted to him that I've done that in the past,
358 01:07:21,840 --> 01:07:32,610 I've tried to talk about moves and specific entries and targets and stops and management in the whole business. And even when I had them, right, and they were
359 01:07:32,610 --> 01:07:48,240 favorable outcomes. Invariably, someone would complain that they didn't do as well as my results showed, because they don't take every trade because they want
360 01:07:48,240 --> 01:07:59,790 to see something qualified to trade. So there, let's let me paint the picture for you. Some of you, most of you really want me to do a entry, a stop by target
361 01:07:59,820 --> 01:08:08,160 manager stop and walk you through it. Okay, I understand that. And some of you are thinking if you would just do that for me ICT I could get my funded account.
362 01:08:09,090 --> 01:08:14,850 Well, okay, well what happens if I did that? And I choose not to do it anymore. You're gonna hate me because of that, because now you have a funded account that
363 01:08:14,850 --> 01:08:23,700 you can't trade using, you're not Drake. So I'll be a jerk then. So I'm always going to be used as an escape code for people that don't have the right mindset.
364 01:08:24,720 --> 01:08:34,380 So if I were to do trades in front of you, if I were to get into the trade right in front of you put the stop loss manager position the whole business yes, it
365 01:08:34,380 --> 01:08:44,610 would be a sugar coma love fest every day in that my my viewership would probably quadruple in a week because everybody coming here doing what I'm doing.
366 01:08:46,050 --> 01:08:56,400 But even in those instances, because I've done this before, there are people that are not going to do every single trade that I do because if I take an
367 01:08:56,400 --> 01:09:03,600 eraser run into our level here it's probably random don't worry about that. I remember I said I want to see it go through that and do what show expansion
368 01:09:03,600 --> 01:09:18,450 speed and run quickly to 4134 and a quarter like to see it do that before 1045 Daddy nice that the the viewership or audience members that will be watching me.
369 01:09:19,470 --> 01:09:28,530 They're going to be scared sometimes, especially if I have a losing trade, which is invariably going to happen. I've got one wrong last week on Twitter, and you
370 01:09:28,530 --> 01:09:38,940 watch me walk through it and pick it up and he was fine. No more drawdown. But the problem with someone that's just blindly following a traders calls or trades
371 01:09:38,940 --> 01:09:51,420 themselves and mimicking they don't have the same experience to know and trust that if I have a losing trade, it doesn't bother me. It's not even a paper cut.
372 01:09:52,050 --> 01:10:02,190 It's just okay, well, I'll get the next one. You as a new student or a new trader, you're not the thinking that you're like, What the hell just happened,
373 01:10:02,610 --> 01:10:10,710 they took money out of my account. That's not supposed to happen. We're supposed to be only making money around here. And the unrealistic expectations come
374 01:10:10,950 --> 01:10:19,980 winding up in your brain. And you think, Okay, I'm scared now. And when the next trade that I or someone else presents, you're not going to take that one,
375 01:10:20,190 --> 01:10:29,130 because you're scared because you got hurt on the last one. And then it becomes a winner. And now you're behind the person you're trying to copy, the results
376 01:10:29,130 --> 01:10:37,260 are not the same. And other people are gonna say, woohoo, look at us, we're going we're killing it. Let's go, you know, everybody's making money, it's a
377 01:10:37,260 --> 01:10:47,610 party. But that one person or those they're just like that are not on that trade. So they become sour. And they take their opinion publicly, and they start
378 01:10:47,610 --> 01:10:57,840 bitching, oh, my results are not the same thing as you, you should do this for us. You should do this for me. You shouldn't be taking any losses. Why do you
379 01:10:57,840 --> 01:11:08,400 hold on to the trade when you know could have potentially turned around on you, you'd let your stock get fully stopped out, and we followed you. See, I offer no
380 01:11:08,400 --> 01:11:20,730 opportunity for that. None. If you make money, you earned that money on your own. If you lose money, you own that. You cannot say that was a result of me at
381 01:11:20,730 --> 01:11:28,740 all. Nobody ever has a documentation of me telling them. Here's where you buy, here's where you sell, here's your stock, take your profits here, none of that
382 01:11:29,010 --> 01:11:40,770 note, I'm talking about candles that mean nothing. But the act, pupil will observe these things. And over time, how much time it's going to be unique to
383 01:11:40,770 --> 01:11:56,880 each one of you will have that volume unbalanced right in here. The nightroad outline the folks that are paying attention and are looking for things that
384 01:11:56,880 --> 01:12:11,610 repeat that they will learn to trust on their own. They're already formulating a game plan for what they want to do. And when they make the results, whether they
385 01:12:11,640 --> 01:12:22,650 be good or bad. I'm reminding you here that those results are yours. They're not mine. While I greatly appreciate folks that do well get funded accounts get
386 01:12:22,800 --> 01:12:35,280 withdrawals from their funded accounts are those live accounts and such. And they credit me as an influence on their learning. That's wonderful. But I am not
387 01:12:35,820 --> 01:12:45,120 the catalyst for that trade, you took that risk on yourself. You presented yourself openly to the market where you had no more control once you entered the
388 01:12:45,120 --> 01:13:01,290 trade. So the credit is yours entirely. It's all yours. And the shame and defeat and the regret is solely on you, when it doesn't work. That's the number one
389 01:13:01,290 --> 01:13:11,280 reason why I don't do it publicly. I don't do it that way, because traders that would watch me if you're new, which is predominately what everybody would be if
390 01:13:11,280 --> 01:13:18,390 they were trying to copy me. They don't have the experience to know why I'm taking the trade. And if I lose, I have the same confidence that I had after
391 01:13:18,390 --> 01:13:25,890 that losing trade that I do on my next trade. Because I know what my stuff will do for me. I have the experience of going through drawdown and coming out of it.
392 01:13:26,190 --> 01:13:34,950 You may not. So you're going to do what you're going to be reluctant to take that next trade. Or you're going to wait for it to move enough in your favor to
393 01:13:35,190 --> 01:13:44,850 be viewed as what confirmation. I got a confirmation. It's moved 20 handles already. I'm trusting it now. Let's go long. Let's go ITT and I'm getting out.
394 01:13:45,960 --> 01:13:59,400 What am i What did you do that for? I just got in. And there's people tweeting to me like that. When I'm just calling moves. I will never open myself up to
395 01:13:59,400 --> 01:14:13,590 that. Because as soon as I make my trade public, and I know that people can copy it. The outcome now is meaningful on an emotional level. Whereas the right now,
396 01:14:13,950 --> 01:14:24,420 as a trader, I put a trade on I have no emotional or psychological commitments to trade it pans out or it doesn't. It hurts nobody but me. It only favors me.
397 01:14:25,230 --> 01:14:36,630 When I talk about price action openly, and I call it the tape in front of you live. You all benefit from the same experience, which is no monetary reward, no
398 01:14:36,630 --> 01:14:51,210 monetary loss. You're watching price paint, following a logic that I'm teaching you to look for. In everybody that does a trade based on this. You own that both
399 01:14:51,210 --> 01:15:00,450 good or bad and I've told you don't do it. Because you're not going to learn properly. You're gonna have less of a learning experience is if you do didn't do
400 01:15:00,450 --> 01:15:10,140 it with the trade on. I don't care if it goes up to 4134 and a quarter right now, if I had a trade on, I still wouldn't care if it was going to go up to 4134
401 01:15:10,140 --> 01:15:22,650 and a quarter right now, I would be parceled out twice already. And constantly removing the necessity for the emotional attachment to a trade. And some of you
402 01:15:22,650 --> 01:15:32,250 that are so new have no understanding of why why I don't do what you want me to do, because it would make me in emotional trader then I don't want to see any of
403 01:15:32,250 --> 01:15:44,760 you get hurt ever. So I teach in a demo, but you're asking me in your infancy as a trader and through a myopic perspective of what it is like to be a trader. You
404 01:15:44,760 --> 01:15:52,650 want me to go out and just show you my entries and exits and manage all that stuff. And a lot of these people that really want it, they lace it with