ICT YT - 2023-07-08 - ICT Mentorship 2023 - Live NQ Futures Trading - July 07 2023
Last modified by Drunk Monkey on 2023-07-11 12:00
Outline
00:06 - Inefficiency in the market place.
- Inefficiency in all the spots where prices are reaching down.
- The inefficiency of pricing.
- The original consolidation runs up and re-accumulation.
- The second stage distribution deceleration attack.
09:07 - Don’t waste that opportunity.
- Don't waste that opportunity, don't waste the opportunity.
- Take three of the three.
12:31 - The gap between the low and the high.
- Small gap between low and small gap.
- Partial 500 hours on balance.
15:01 - A location for a Trump stop.
- Bumps the bottom of the old bison mount.
- B bumps the parliament and advice agency.
19:49 - Stop loss orders.
- The concept of five handles or five points.
- Stop-loss orders and price action.
22:54 - Don’t trust the market’s optimism.
- Don't trust those duties, this is promoting the idea.
- New york pm session begins.
24:59 - How do you look at the chart?
- Just change the chart to see it.
- Move the troll around.
- Internal dialogue and stop-loss below the low.
- Haman did pretty good today.
- The two close candles together.
- Two consecutive tankless candles, a sensitive point.
- Trading to the market and liquidity.
- The 26,000 to $40 day range.
Transcription
| 1 | 00:00:06,450 --> 00:00:11,910 | ICT: Y'all inefficiency here all the spots I hear prices reaching down to offer |
| 2 | 00:00:18,119 --> 00:00:23,339 | price into this sort of balance efficiency? |
| 3 | 00:03:06,750 --> 00:03:09,300 | Guess we'll see it delivered to LAX |
| 4 | 00:03:31,440 --> 00:03:32,700 | yes as the same thing |
| 5 | 00:04:00,210 --> 00:04:02,460 | losing muscle was turned into better |
| 6 | 00:04:42,840 --> 00:04:44,040 | smaller bounce |
| 7 | 00:05:57,540 --> 00:06:16,560 | If you're paying attention prices don't this is actually market make your cell now it can go down to here also inside of this inefficiency when that it's not |
| 8 | 00:06:16,560 --> 00:06:19,560 | in Tyvek but it also can go to this depth |
| 9 | 00:06:27,720 --> 00:06:39,030 | efficiency right there so we're gonna put it right on the higher that you get in the sell side resign rate for that |
| 10 | 00:07:02,520 --> 00:07:19,050 | probably hear my dryer I'm in my kitchen area and we have a laundry room that's on the first floor and my wife left the door open last year if you're hearing |
| 11 | 00:07:19,050 --> 00:07:35,220 | that in the background, I apologize. It's annoying, but I'm not gonna close it. So it should accelerate lower here and go up to the sell side right below here |
| 12 | 00:07:36,120 --> 00:07:52,050 | is the original consolidation runs up. Re accumulation Thank you accumulation Smartline reversal, low risk so redistribution, second stage distribution |
| 13 | 00:07:52,650 --> 00:08:05,430 | deceleration attack the original consolidation with the sell side resigned at low rate there's several factors between this low and that efficiency rate |
| 14 | 00:08:05,430 --> 00:08:16,800 | there. It can go a little bit more than that to an amount how overzealous it gets going into too close. But it's not it's not enough for me to do anything |
| 15 | 00:08:16,800 --> 00:08:31,560 | with it. I was actually trying to take a losing trade. I was asked on Twitter, I get this asked a lot. Can you show a losing trade? I guess I have to create some |
| 16 | 00:08:31,560 --> 00:08:47,520 | kind of a drawdown to teach how to resolve drawdown later this year so I genuinely did try to take a losing trade up here up with the staff that were |
| 17 | 00:08:47,520 --> 00:08:57,390 | close to home and didn't do it. And it started working in my favor. And I said it would go down to here instead. So I closed the trade and we've gone down here |
| 18 | 00:08:57,780 --> 00:09:17,520 | I sold short in here and added to a here because our trades muscle does make the best of it right. Don't waste that opportunity. So we'll take we'll take three |
| 19 | 00:09:19,890 --> 00:09:28,890 | of here. We'll take one off right under here |
| 20 | 00:09:34,200 --> 00:09:41,190 | just underneath their final will be the target here |
| 21 | 00:09:46,200 --> 00:09:47,610 | that will close out this week. |
| 22 | 00:10:28,919 --> 00:10:29,969 | partial taking. |
| 23 | 00:12:31,019 --> 00:12:36,509 | Read on this low and this low and then that small gap right there. |
| 24 | 00:14:01,320 --> 00:14:09,390 | Come somewhere look does not exist is like a real phenomenon |
| 25 | 00:14:18,330 --> 00:14:20,790 | is another partial |
| 26 | 00:14:26,850 --> 00:14:47,190 | 500 hours on the balance just in case good ICT gets it wrong these next two might feel pretty quick my stop is rolled cuz you're wondering well so you're |
| 27 | 00:14:47,190 --> 00:14:56,160 | just thinking why they're almost out there is just the bow mean threshold less up close candle. So if it does roll back on me and stops me I'm okay with it. |
| 28 | 00:15:01,319 --> 00:15:14,039 | once gone lowered and obviously that's a location for a Trump stop the logic would be even if it has a low retracement up into this inefficiency here in |
| 29 | 00:15:14,039 --> 00:15:19,589 | bumps the bottom of this old bison mounts also inefficiency now that's completely permissible |
| 30 | 00:15:59,309 --> 00:16:07,469 | just to prove the theory I want to add one contract it bumps the parliament and advice and analysis agency |
| 31 | 00:16:26,490 --> 00:16:36,150 | to run lower from here it's already done it's delivered to the high end that everybody got right there. |
| 32 | 00:19:00,390 --> 00:19:13,500 | Watch those wicks courtroom those wicks I'd like to see that be a barrier if anything on the upside starts to materialize? |
| 33 | 00:19:49,980 --> 00:19:51,270 | Take that entry |
| 34 | 00:20:34,410 --> 00:20:48,450 | As a reminder when I was teaching the concept of five handles or five points which is 20 ticks in the E Mini s&p The equivalent for NASDAQ would be 20 years |
| 35 | 00:20:49,740 --> 00:20:50,820 | or 80 ticks |
| 36 | 00:21:05,970 --> 00:21:20,460 | just reading some comments you got toss them in here just in case the person that made that inquiry was listening they have their answer |
| 37 | 00:21:27,869 --> 00:21:38,039 | does that look random to you? Or does it have like it's engineered coded scripted authored |
| 38 | 00:21:44,310 --> 00:21:44,970 | so fun |
| 39 | 00:21:53,280 --> 00:22:04,800 | so you can see that 15,000 to 89 and a quarter level that's an actual low right there. So right before all this run up the stop loss orders are sitting right |
| 40 | 00:22:04,830 --> 00:22:18,540 | below that will kind of stop loss sell stops why would that be advantageous for price to deliver they're from appear here on here. Here they will be |
| 41 | 00:22:18,540 --> 00:22:28,920 | counterparty to buy at lower price from sellers that want to sell at a low price right below that well. And then one fell swoop to can take that liquidity and |
| 42 | 00:22:28,920 --> 00:22:32,850 | reach into this inefficiency and order block and complete the numbers for today. |
| 43 | 00:22:54,869 --> 00:23:07,409 | Don't trust those duties This is promoting the idea that this is going to turn go higher. That's not the case. Mark don't eat read over top of this run over |
| 44 | 00:23:07,409 --> 00:23:21,179 | top of it and go into this area here. Might want to kiss the bottom of that. Bison analysis on an agency wants more or favorite not doing that again. But |
| 45 | 00:23:21,179 --> 00:23:36,359 | it's okay. We're leading into the last hour of New York pm session that begins at three o'clock. And so we're about five minutes or so less than five minutes |
| 46 | 00:23:36,359 --> 00:23:37,649 | for that to begin |
| 47 | 00:23:49,770 --> 00:24:02,610 | all of this drop from here to here is nicely delivered efficient. Efficiency here was reached reprice to all of this back and forth price action then down. |
| 48 | 00:24:02,640 --> 00:24:11,790 | We had an inefficiency here. We've been in here multiple times. We've hit the bottom of the box on analysis on efficiency. So it's all green light for it to |
| 49 | 00:24:11,790 --> 00:24:29,580 | go lower and pair up that sell sell liquidity, deliver inefficiency over here to efficient reading here, not saying it's the lowest of the day, but that's all |
| 50 | 00:24:29,730 --> 00:24:45,240 | for. So inside of all this fractal I'm looking for for the completion of that run. Being Friday nonfarm Friday, I'm sorry nonfarm payroll Friday. I pretty |
| 51 | 00:24:45,240 --> 00:24:48,210 | much hammered this today and beat it up pretty bad. |
| 52 | 00:24:59,880 --> 00:25:08,610 | Is Just |
| 53 | 00:25:15,929 --> 00:25:21,869 | change the chart so you can see it's not like replay or anything like that |
| 54 | 00:25:38,460 --> 00:25:49,410 | I apologize probably gets on your nerves moving the troll around because I don't like it when people do it because I want to add that extra detail in here? |
| 55 | 00:29:18,630 --> 00:29:33,150 | The question I always ask is internal dialogue like if I was long and I haven't my stop loss below that low would I feel safe right now and I wouldn't and they |
| 56 | 00:29:33,150 --> 00:29:44,160 | should be trembling right now they're not going to get a chance to get off of it now the surge or |
| 57 | 00:29:49,290 --> 00:30:06,000 | notice that time three o'clock where's the liquidity below Thanks Intuit nine quarter what's below that inefficiency |
| 58 | 00:30:17,430 --> 00:30:26,730 | no I don't want to see it come back up to the bottom of that old boss our mail it's also an inefficiency right here I don't want to see that bump it again so |
| 59 | 00:30:26,730 --> 00:30:34,260 | it either goes to my limit order or limit orders or it's starting out there and I'm content with that |
| 60 | 00:31:56,099 --> 00:32:12,209 | stop sitting readable those really smooth highs it still knock those out and then come down good My target is okay very smashed it today pretty good it's |
| 61 | 00:32:12,209 --> 00:32:23,969 | really nice being in a position where being right is not the end result of choice it's just you're in a position now where if it goes to your targets |
| 62 | 00:32:23,969 --> 00:32:33,629 | wonderful if it doesn't you've already taken something off multiple times and I was all over this thing like why don't race today so Haman did pretty good |
| 63 | 00:32:42,150 --> 00:32:46,650 | now all things being equal it should deliver on this candle or the very next candle |
| 64 | 00:33:10,349 --> 00:33:17,699 | for those that are asking why would I say something like that you can see a small separation between this candles low Miss candles Hi We went up in there |
| 65 | 00:33:17,699 --> 00:33:29,159 | once twice and we started the price run till we were below this candle is opening right there. So these two are close candles together I want to see price |
| 66 | 00:33:29,189 --> 00:33:34,049 | move away from that one it does that doesn't matter except the fact that I may get stopped out |
| 67 | 00:33:47,220 --> 00:33:58,530 | no emotion, no reason for concern. No excitement when you're right. It's a continuous balancing act a trader must maintain |
| 68 | 00:34:23,189 --> 00:34:26,009 | they're holding it a lot here in the last hour. |
| 69 | 00:34:58,260 --> 00:35:02,790 | So you're getting a feel for why speed these things up it's like watching paint dry sometimes |
| 70 | 00:35:30,660 --> 00:35:41,340 | I'm looking at I'm wondering does it want to really accelerate down to is our block up is two consecutive tankless candles the high to the opening will be a |
| 71 | 00:35:41,340 --> 00:35:56,310 | very sensitive price point for me because they have already got in the same area but I'm leaving what I have here terms of the orders if they can look those |
| 72 | 00:35:56,310 --> 00:35:58,080 | orders that completes my week |
| 73 | 00:36:16,590 --> 00:36:18,300 | lots of manipulation here |
| 74 | 00:36:27,450 --> 00:36:28,080 | it's one |
| 75 | 00:36:35,610 --> 00:36:40,920 | see if we get that final one here inside that fair I get |
| 76 | 00:36:47,220 --> 00:37:03,420 | that take this up and roll it down to the rejection block. Great pair on this of course candle to stop me there I'm comfortable with that I don't care is traded |
| 77 | 00:37:03,420 --> 00:37:14,430 | to the market you're so model. So So liquidity, which is the reason why I had that limit order there. And the two meaning contracts I have are being framed on |
| 78 | 00:37:14,430 --> 00:37:22,410 | the basis of that small little very get there so that they can deliver that wonderful if it doesn't stop me out that's just as well. |
| 79 | 00:37:51,570 --> 00:38:15,420 | Here we are, just like it's coded, just like it was explained in source code. So my friends that is a 26,000 to $40 day. All over this thing. Remember my lecture |
| 80 | 00:38:15,420 --> 00:38:32,730 | notes and mentorship is either all the bills I'll take them off where you can see it's not Market Replay. And I'll toggle to Yes. So it's not like I can go |
| 81 | 00:38:32,730 --> 00:38:45,300 | back and pull them up again. Once you changed your screen. If you reset your account all that stuff. It wouldn't be there. Okay, so, again, that's $26,240 on |
| 82 | 00:38:45,840 --> 00:39:02,760 | the ES I'm sorry, on the N q. Up in the macro. I'll teach you that this weekend on Sunday at 2pm. Enjoy your weekend. Until next time, be safe |