ICT YT - 2023-09-19 - ICT Mentorship 2023 - NQ Market Review September 18 2023
Last modified by Drunk Monkey on 2023-09-19 12:17
Outline
00:00 - Stock market trends and analysis.
- Trader discusses NASDAQ commissions and trading activity.
01:39 - Trading strategies in volatile markets.
- ICT delays trading due to son visit, waits for Wednesday announcement.
03:35 - Market structure and trading opportunities.
- Trader identifies three opportunities to short the market after a gap is created.
05:09 - Technical analysis and market trends.
- ICT identifies a potential double bottom pattern in the market, with a target of 15,003 87 and a half.
06:24 - Market uncertainty and potential price action.
- ICT: Expect consolidation in a market with no advantages, cleaner price action on Thursday and Friday.
Transcription
| 1 | 00:00:00,000 --> 00:00:13,050 | ICT: Good evening folks, this is a quick review. And this is what my results were for today. So 3744 commissions, you see it's a live account. |
| 2 | 00:00:19,199 --> 00:00:30,779 | And I started off today, I only did work with NASDAQ. But you can see here we had just a consolidation day taking both sides at a range. And then working back |
| 3 | 00:00:30,779 --> 00:00:41,729 | into the middle for ES, but I worked with NASDAQ. So we'll look at that. And you're gonna hear my puppy snoring. So I'm afraid to wake her up because I won't |
| 4 | 00:00:41,729 --> 00:00:50,999 | be able to finish the video because she's been napping for a little while. So just have to put up with that now I apologize. So I submitted, I sent a tweet |
| 5 | 00:00:50,999 --> 00:01:00,419 | today, the 30 minute chart right in here, you can see material up into that. And here's the buyside liquidity. And you can see it trading right up into that |
| 6 | 00:01:00,419 --> 00:01:08,609 | level. Right, I mentioned that and taking up the buy side. And employment rate back down into the woman and consequent encroachment of this spot, I bounce |
| 7 | 00:01:08,609 --> 00:01:20,129 | outside efficiency, which we'll look at when it's referring to here snoring. That's the little fallen colored puppy. She's scalping away. And this is the |
| 8 | 00:01:20,129 --> 00:01:31,769 | opening range. Okay, so we'll look at that, on a shared this on a 30 minute charts. Let me show that actually there. So here's the 30 minute chart. Trade up |
| 9 | 00:01:31,769 --> 00:01:39,539 | into that tweet, all this is the buy side, let me pull right back down into the range. So let's go into a one minute chart get right to it. I don't want to |
| 10 | 00:01:39,539 --> 00:01:49,589 | spend too much time tonight. I'm actually tired, and I got delayed with my son visiting. I don't want to do too much rambling on tonight. This week, we have a |
| 11 | 00:01:49,589 --> 00:01:58,679 | great announcement Wednesday, in the afternoon 2pm. Just be mindful that the market will likely be a little fickle, meaning that it's not going to be as |
| 12 | 00:01:58,709 --> 00:02:09,569 | precise not as symmetrical, meaning that both the ES and the Nasdaq usually move in concert and they move together. We're not seeing that so much right now. And |
| 13 | 00:02:09,569 --> 00:02:18,569 | it makes trading a lot more harder than it can be if you wait for symmetrical markets. Now. We will see that on Thursday and Friday. So try not to worry too |
| 14 | 00:02:18,569 --> 00:02:28,439 | much to keep your powder dry, you're gonna be trading keep it real, I was doing a lot of light try trading today. I initially started day wanting to be short. |
| 15 | 00:02:28,919 --> 00:02:39,959 | And this is NASDAQ here. And I wanted to use this small little gap right here. As it traded up into there, I wanted to be short. And it started off where it |
| 16 | 00:02:39,959 --> 00:02:48,719 | was moving in my favor. And I wanted to see if they got this low. And I tweeted my interest was 15,003 12 18,300. I wanted to see if it can find its way down |
| 17 | 00:02:48,719 --> 00:02:58,679 | there. And it was unwilling to do so immediately came back started running against me, my stop loss order on the short did not get hit, it stopped me out |
| 18 | 00:02:58,679 --> 00:03:08,879 | of the trade based on its movement, there was a lot more impressive than I want to see it do. So what I did was is I closed the position and use the stop loss |
| 19 | 00:03:08,879 --> 00:03:21,719 | order as my entry. So where I wanted to take a stop loss and exit at I use that same level as an entry to get long, so I was buying momentum. There are |
| 20 | 00:03:21,719 --> 00:03:30,449 | instances where I will do that. It's only when I'm absolutely offside. And I know that I'm going to be either ran over or the move is going to be much more |
| 21 | 00:03:31,109 --> 00:03:40,709 | pronounced to the opposite direction. And as you can see, we see that actually happening here. So I had a $1,700 loss that was immediately mitigated by having |
| 22 | 00:03:40,709 --> 00:03:51,929 | a reversal. And while it looks like I had a $3,760 winning day I shared earlier in the day where it's like 20 something 2000 something dollars what it used to |
| 23 | 00:03:51,929 --> 00:04:02,009 | be look at the screenshot or whatever it was I shared on Twitter and then later on the head another trade where I walk you through it all but the bottom outside |
| 24 | 00:04:02,009 --> 00:04:11,609 | inefficiency here I mentioned that trade up into the buy side I mentioned keep your eye on this fair value gap and then right in here, it dropped down to |
| 25 | 00:04:11,609 --> 00:04:22,079 | consequent encroachment on this by site analysis on efficiency and inside this button unbalance also on efficiency so it was in a discount the market rallies |
| 26 | 00:04:22,079 --> 00:04:32,189 | back up Lee's relatively equal highs here but then there's a shift in market structure right there and right there. So we have a fair value got their extend |
| 27 | 00:04:32,189 --> 00:04:46,409 | the very gap here at the 939 level I tweeted this as well. And I was interested in how we treated there but then we had this form so with the model 2220 20 |
| 28 | 00:04:46,409 --> 00:04:56,759 | rather that's the the actual trading model taught in 2020 on my YouTube channel. So it's a shift in market structure after TAKEN BY SIDE trader and up into the |
| 29 | 00:04:56,759 --> 00:05:03,869 | fear of a gap right there beautiful give you three opportunities to get short The market broke aggressively lower trade back up into a bearish order block, |
| 30 | 00:05:04,529 --> 00:05:11,909 | move lower I walked you through where a stop loss would have been managed throughout the entire process. I mentioned right here as we get below this low |
| 31 | 00:05:11,909 --> 00:05:22,679 | here take a partial. And we wanted to see it trade down into obviously lower targets in this but I didn't get an opportunity to get my tweet typed out to do |
| 32 | 00:05:22,679 --> 00:05:30,959 | a nother partial rate below here, rate below these relative equal lows to hit that. And I'm really sorry, only higher. The last line of defense I had here, |
| 33 | 00:05:30,959 --> 00:05:40,169 | which was the 15,003 87 and a half level, which is consequently, of these two blue lines, which is this imbalance is big candle here. It's framed by this |
| 34 | 00:05:40,169 --> 00:05:49,889 | candles low. And this candles high and you guys know what that is? That low. When that candle comes to that very level to the tick. It's 15,003 87 and a half |
| 35 | 00:05:49,889 --> 00:05:57,329 | is the low and you'll see that right up here. See this figure right here? Look at this candles low right there. There it is 15,000 or 87 and a half books |
| 36 | 00:05:57,329 --> 00:06:04,859 | that's perfect. That's algorithmic that's not made up. It's not contrived. It's exactly how I teach you the market is going to book the rally rallies back up |
| 37 | 00:06:04,859 --> 00:06:14,669 | there also it's a sensitive this candles high that candles low halfway point of that, too. So there's a double double edged sword there for Confluence in the |
| 38 | 00:06:14,669 --> 00:06:22,469 | market doesn't match start to rally again. And I wasn't in the market here. I wasn't watching anything here but they'd run up take relatively equal highs and |
| 39 | 00:06:22,469 --> 00:06:30,929 | try to back up into that 30 minute. Okay, right, you got into consequent curtailment of that gap as well. worked around that level. And then finally back |
| 40 | 00:06:30,929 --> 00:06:43,469 | down into that 15,003 87 and a half level for the afternoon going into three o'clock. And basically this chop wood around here going into the close at four. |
| 41 | 00:06:44,009 --> 00:06:54,629 | And then we've seen so far is this consolidation in a market that doesn't have any kind of advantages that we should be worrying about going into tonight. So |
| 42 | 00:06:54,959 --> 00:07:05,249 | keep your powder dry. Expect a lot of fickle price action, it means uncertainty and a lot of frustration. Okay, if you're trying to force a lot of things to |
| 43 | 00:07:05,249 --> 00:07:12,149 | happen right now, before the rate announcement on Wednesday, you're gambling. Don't do that. Don't use maximum leverage. Expect cleaner price, action and |
| 44 | 00:07:12,149 --> 00:07:16,769 | symmetry to return back on Thursday and Friday. And I'll talk to you tomorrow Lord willing, be safe |