ICT YT - 2023-05-22 - ICT Mentorship 2023 - Evolving ICT Silver Bullet Example

Last modified by Drunk Monkey on 2023-05-26 16:38

Outline

00:01 - Silver Bullet Short -. 

- A silver bullet short this morning.
- The silver bullet might present the morning.

00:51 - How to use a limit order to get into this. 

- Aiming for the sell side.
- Using a limit order above the vega.

02:27 - How long does it take to reach the limit order? 

- Risk of missing the move, but better to miss than chase it.
- Silver bullet time window.

05:05 - Visualizing the new adjusted and evolving silver bullet. 

- New adjusted and evolving silver bullet.
- Short stops at 42 08 and a quarter.

07:12 - Run quickly away from that gap. 

- Taking the bulk of the move off.
- Evolving silver bullet trade.

Transcript

1 00:00:01,439 --> 00:00:09,149 ICT: Alright so I'm gonna be doing a silver bullet short this morning noting the sell side here
2 00:00:19,980 --> 00:00:22,560 and then we'll change the color here after
3 00:00:35,160 --> 00:00:52,770 a set a rectangle inside this here I'm watching this one this might present the silver bullet for this morning. Aiming for that sell side I really like the idea
4 00:00:52,770 --> 00:00:58,770 of returning back to the currently week opening gap hi and consequent encouragement just midpoint of that
5 00:01:07,410 --> 00:01:08,520 just color
6 00:01:14,340 --> 00:01:19,890 all right, and I think what I'll do is I'll use a limit order just above
7 00:01:29,670 --> 00:01:45,510 Alright, so I've got six as a limit order. And for now I'll just put the stop loss rate above your Vega targeting the sell side here, I'll manage this as I go
8 00:01:46,980 --> 00:02:01,500 on to see if I can build my typical 10 contracts into this warning limiting entry not just marketing in turn, changes to four and just a little bit below
9 00:02:01,500 --> 00:02:19,380 that will try to you see entry there. So though that will be 10 contracts shortfills goes up side that fair value gap. Now the only thing that concerns me
10 00:02:19,380 --> 00:02:32,820 is because we have that large range of closed candle to the left of all of this decline. And fair bake up I have noted here, that might become a balanced price
11 00:02:32,820 --> 00:02:44,250 range, and it may not even enter back into that. So I'll have to wait for a subsequent HOUR LATER fair value got I've run the risk of missing the move, but
12 00:02:44,250 --> 00:02:49,410 it's better to miss the move than to try to chase it. So
13 00:02:55,439 --> 00:03:10,199 admittedly, I'd like to short it right in here. But my stop would be at 14 to 12. So it's a little bit more points drawn and and and whatnot suffer. So I'm on
14 00:03:10,199 --> 00:03:30,419 let go here hopefully it goes up and hits the limit order and then I can work towards that limit order 42 03 I suspect it's gonna go lower than that. But I
15 00:03:30,419 --> 00:03:47,369 have to see how it trades in here it trades below 4203 Now just canceled the entire trade it would be too far down for me to to consider that fair value gap
16 00:04:04,289 --> 00:04:13,589 so we're technically inside of my ICT Silver Bullet Time Window. So we're two minutes, three minutes almost after 10 and we have just now tapped into that
17 00:04:13,619 --> 00:04:25,139 low. That was a drawn liquidity for me. So I'm looking at that. I'm wondering Do we get a shallow drop just below it maybe one or two ticks and then leave that
18 00:04:25,139 --> 00:04:38,969 shaded area intact because I think we'll dip below that 42 01 level this is how it is sometimes folks it might run without you. But I'm gonna give it the
19 00:04:38,969 --> 00:04:48,839 benefit of the doubt here. If this candle can close and leave that previous damn candle. These are all one minute candles now. It can create a fair value gap in
20 00:04:48,839 --> 00:04:58,709 there and then I'll adjust that rectangle down to that and that would be my silver bullet. Expecting the one that I have shaded now to zero as a breakaway
21 00:04:58,709 --> 00:05:17,969 gap. No words not seeing it, trade back up into it. I think that's what I'm gonna do here, drop this here. And here says colloca evolving silver bullet so I
22 00:05:17,969 --> 00:05:34,229 think that that initial range of justice just below here for now. And now take you visually into what I'm looking at. So that right there is the low and this
23 00:05:34,229 --> 00:05:48,059 is the high of the new adjusted several bullets. So it's evolved from when I initially was around that 40 to 10 level. Now if you can train to 42 06 and a
24 00:05:48,059 --> 00:05:48,629 quarter
25 00:06:09,990 --> 00:06:17,490 note that shallow run under shout just went like one tick below the wells leaving for so now I'm really feeling confident that we're gonna go up and hit
26 00:06:17,490 --> 00:06:32,640 that new adjusted and evolving ICT silver bullet and one of the trade back down into the new week open and get high. And actually, I don't really want to do
27 00:06:32,640 --> 00:06:46,680 that I want to do a layering. I think we're gonna go below Navy COVID and get high. I'm gonna reduce the stop because it feels it shouldn't go up there.
28 00:06:50,010 --> 00:07:05,100 Trying to think how I want to. Okay, well, we just got Phil. So all 10 contracts are now short stops at 42 08 and a quarter. When I'm looking at is how I want to
29 00:07:05,100 --> 00:07:15,600 do my exit, I want to see if if we can drop in here, which is what I want to see. Let's see it like run quickly away from that gap. That would be in my
30 00:07:15,600 --> 00:07:24,360 opinion, confirmation that on one side, I'm in line with institutional order flow, and it will want to reprice down into my new ecobank gap Hi, and maybe
31 00:07:24,360 --> 00:07:39,720 consequent encouragement. But I want to try to take the bulk of the move off so and cancel this here and onto some layering with someone. So by limit, so I'll
32 00:07:39,720 --> 00:07:48,540 take four off just below the new week opening get high. So if our price is looking strong for me here, weak in the sense, it's going lower, but strong. And
33 00:07:49,350 --> 00:08:01,350 the idea that my traits short, so I get a measurement here for consequent cursors, you can follow along so 4193 and a half, you can work with that. I'll
34 00:08:01,350 --> 00:08:17,940 take four off there. So that remaining it remains a balance of to change it for two. And I'll take it just about 75% of the New IQ opening gap range. So there's
35 00:08:17,940 --> 00:08:34,200 four, two and four. So if this puppy runs, I'm locked in with a really respectable amount of profit, if it can hit it with relative low risk. So we'll
36 00:08:34,200 --> 00:08:46,860 just sit here and watch the price action. Just removing the fear here. So everything's cleaned out, we can all watch whether I'm right or wrong, which is
37 00:08:46,920 --> 00:09:02,280 irrelevant, but this is the price, I want to see it really just wipe out that low set low shaded area that is the difference between Friday's price and where
38 00:09:02,280 --> 00:09:05,730 we closed them when we opened this moment here so
39 00:09:12,090 --> 00:09:23,640 I see it work really aggressively below and really draw right back into that current new week open and get high. And then it should if everything is accurate
40 00:09:23,640 --> 00:09:36,060 in my observation, we should see it really sink lower in attack that constant encouragement 4193 and a half. I run the risk of it going completely into dark
41 00:09:36,090 --> 00:09:48,030 here. As we take our first profit oh look at that second, second profit field. And we get this other way you can see that fourth I'm sorry, the four remaining
42 00:09:48,030 --> 00:09:58,170 contracts and there we go. Nice. Got a triple. So that's what a evolving Silver Bullet trade looks like. And using new eco bingo