ICT YT - 2023-10-06 - ICT Mentorship 2023 - NQ Futures Market Review October 05 2023
Last modified by Drunk Monkey on 2023-10-16 19:18
Outline
01:18 - Trading during Non Farm Payroll week.
- ICT discusses NASDAQ trading during Non Farm Payroll week, avoiding Thursday and Friday due to market volatility.
- ICT emphasizes the importance of patience and a well-defined trading model to new students, warning against impulsive and over-leveraged trading during high-impact news events.
04:28 - Trading strategies for beginners.
- ICT advises beginners to avoid trading during high-impact events like Non Farm Payroll Thursday and Friday due to high degree of manipulation and potential for unexpected price movements.
06:45 - Trading and market analysis.
- ICT: Struggled with no audio during live session, but still tried to condense key points for Twitter.
- ICT: Apologized for lack of audio and tried to summarize important points for viewers.
- ICT explains that today's lesson may seem like a waste for new students who don't understand the context, but it's important to respect the caution he presents as a teacher to avoid making mistakes in trading.
- ICT acknowledges that students may have questions and face challenges in learning, but he knows the progression of learning and wants to help them stay in it long enough without getting discouraged.
- ICT wanted NASDAQ to fail today, hoping to demonstrate why he advises against trading on the first week of the month.
- ICT shared a chart on Twitter, showing NASDAQ trading up to a fair value gap, with the potential for a sell-off.
13:21 - Trading strategies and personal growth.
- ICT shares personal trading experiences, including losing dozens of accounts, to emphasize the importance of proper risk management and emotional control in trading.
- Father teaches son about trading, resistance to his methods.
16:24 - Trading strategies and market analysis.
- ICT: Explains why he's live streaming during Non Farm Payroll numbers tomorrow, wants to prove a point about being cautious (8:00-9:00 PM EST)
- ICT: Shares his hourly chart analysis of NASDAQ, uses annotations to highlight key points (remainder of transcript)
- Ict highlighted the difference between where the price settled the previous day and where it opened the new week, using the opening range of that specific price level.
- Ict changed their interest from wanting to see the price trade above the high of the new week opening gap to not being interested in seeing it go above that high, as the price had already swept the buy side and done what they wanted.
22:09 - Technical analysis and risk management in trading.
- ICT is anticipating a potential false run higher in the market, indicating a potential drop below the new week opening gap.
- ICT believes the market may fail to reach the new week high gap, indicating a potential false run higher and a potential drop below the gap.
25:15 - Technical analysis and trading strategies.
- ICT explains how to identify liquidity levels in candlestick charts, using bodies and wicks to determine narrative and potential run for liquidity.
- ICT advises using worst-case scenario data for backtesting, rather than best-case entry points, to be more realistic and profitable.
28:34 - Technical analysis and market liquidity.
- Analyzes opening range gaps and their impact on daily price movements.
- Ict mentions 700 level in audio, irrelevant to trade analysis.
- ICT highlights the importance of identifying areas of imbalance in the market, such as a large volume of buying or selling pressure, and how this can be used to anticipate future price movements.
- ICT discusses the use of candlestick patterns, such as the "fair value gap," to identify potential areas of support or resistance, and how these patterns can be used to inform trading decisions.
35:43 - Technical analysis and trading strategies.
- Trader discusses chart analysis techniques, including using opening range gap settlement levels.
- ICT claims to have accurately predicted market movements for years, using TradingView as the medium.
38:56 - Market analysis and trading strategies.
- ICT teaches son to identify settlement price labels in stock market data.
- ICT refers to a sell side imbalance, specifically an unbalanced bison efficiency, which is a fair value and a sign of inefficiency.
- The market is in the early stages of opening range and can expect to see discrepancies and errant price actions, with a higher likelihood of a mohawk forming between 930-10 o'clock.
- ICT: Watch for a Mohawk pattern to form and potentially trade beyond the fair value gap, but be cautious of closing above the mean threshold.
- ICT: The eight-minute candle after 9:11 AM will be influential, potentially using the fair value gap as a springboard or an inversion point.
45:38 - Market sentiment and trading strategies.
- Trader believes sentiment indicators can predict market movements.
47:55 - Market analysis and trading methods.
- ICT argues that the root cause of price movements is not due to any one school of thought or methodology, but rather timing inefficiencies and liquidity.
- ICT challenges the idea that 90% of traders lose due to using retail bullshit, suggesting that his own approach is the only one that works consistently with precision.
50:36 - Trading strategies and analysis.
- Ict frustrated with earlier eloquent delivery, wants to capture audience.
- Ict identifies potential inversion for Vega, watches for behavior.
- ICT identifies a fair value gap in the market, which could lead to a balanced price range.
- Displacement below the low of the gap indicates heaviness in the market, potentially leading to a bearish outlook.
- ICT refers to a trading strategy involving a short position in the S&P 500, with a stop loss placed above the halfway point of a fair value gap.
- The trade objective is to sell at 14,000 804, with a cap on the downside for non-farm payroll releases.
57:38 - Trading strategies and emotional control.
- ICT advises Patrick to hold one contract instead of closing it, to maximize profits and improve trade duration management.
- ICT believes that traders should be conditioned to take profits and close trades early, even if it means leaving some potential profit on the table.
- ICT suggests that traders should prioritize taking small, frequent profits over waiting for larger runs, as this approach can lead to better overall performance.
01:01:54 - Trading, personality, and growth.
- The speaker admires the channel's showmanship and authenticity, valuing the host's willingness to share frustrations and emotions.
- The speaker believes that the host's genuine moments, such as breakdowns and outbursts, are what make the channel relatable and successful.
- ICT emphasizes the importance of coexisting and trading differently in the community, while avoiding negative labels and maintaining respect for one another.
- ICT emphasizes the importance of taking calculated risks in trading, even when in a winning position, to avoid getting stuck in a comfort zone and missing out on potential growth.
- ICT encourages live streamers to be more open to feedback and criticism, rather than getting defensive or emotional, in order to improve their craft and resonate with their audience more effectively.
01:08:30 - Live streaming frustrations and growth.
- Ict wants his students and audience to succeed, but he's frustrated by their lack of progress.
- ICT feels overwhelmed by the number of comments and questions in his live streams, struggling to respond to everyone.
01:12:01 - Personal growth and vulnerability in trading.
- ICT acknowledges the speaker's vulnerability and authenticity in sharing personal experiences and emotions, and encourages them to continue being open and honest with their audience.
- ICT advises the speaker to address their weaknesses constructively and nurture themselves, rather than trying to hide or downplay them.
01:14:43 - Trading psychology and risk management.
- ICT emphasizes the importance of focusing on trading rather than engaging in unnecessary conversations.
- ICT emphasizes the importance of desensitizing oneself to stop feeling the need to constantly defend trades in the chat, allowing for larger moves to be taken.
- ICT shares a strategy of taking a single contract on and leaving the rest of the move in the water, allowing for potential bigger gains.
- ICT expresses frustration with impulsive trading decisions, struggling to hold onto profitable trades due to mental state and lack of experience.
- ICT criticizes themselves for not having the discipline to hold onto trades, instead taking profits too early and missing out on larger potential gains.
01:21:40 - Overcoming trading struggles and fear.
- Pat emphasizes the importance of embracing discomfort and taking calculated risks in trading, rather than fearing failure or avoiding challenges.
- Pat shares his personal experience of overcoming fear and resistance through repetition and desensitization, encouraging listeners to apply similar techniques to improve their trading skills.
01:24:46 - Trading and market analysis.
- ICT shares personal struggles and emotions to connect with students and emphasize the importance of being genuine in trading.
- ICT encourages students to bring their whole selves to trading, including personal experiences and emotions, to find success and build confidence.
- ICT identifies a significant level at 40,084, which is hit and then consolidates.
- ICT expects the market to move against them if they try to trade Non Farm Payroll every time it comes out.
- ICT emphasizes the importance of understanding the market's behavior and not making assumptions about its movements.
Transcription
| 1 | 00:01:18 --> 00:01:32 | ICT: Good afternoon, folks. So I'm going to ask you all if you're paying attention and you're on Twitter, I'm looking for a five by five. This morning, I |
| 2 | 00:01:32 --> 00:01:45 | was doing a live stream, and I took the chance of not asking to see if you could hear me. And I ended up talking for an hour. And then if you could hear what I |
| 3 | 00:01:45 --> 00:01:59 | was saying. So I'm just waiting for a confirmation. Thank you, Chairman, institutional vote trigger. Thank you. Just want to get one more spiritual |
| 4 | 00:01:59 --> 00:02:08 | trader. Thank you Casio. Thank you, Jr. Thank you. Alright, so this is going to be brief, real real brief, because it's going to be just talking about the |
| 5 | 00:02:08 --> 00:02:26 | NASDAQ. I kind of like want to bring you up to speed as to what I was trying to convey this morning. The NASDAQ here on the daily chart. It's inside this range |
| 6 | 00:02:26 --> 00:02:42 | here. Okay, so while we're in this range, I prefer I'd like to see a trade the trade into this or try to trade them into this rather. But because it's Non Farm |
| 7 | 00:02:42 --> 00:02:53 | Payroll week, and tomorrow is Non Farm Payroll, I might not get what I want. And that's why I try to refrain from trading on Thursday and Friday, I kind of like, |
| 8 | 00:02:54 --> 00:03:01 | went through a lot of that this morning. For the sake of people that aren't familiar with what it is I try to teach my students to avoid during this |
| 9 | 00:03:01 --> 00:03:13 | particular week. And because of the volatility, because of the high level of manipulation that takes place on the Thursday and the Friday of nonfarm payroll |
| 10 | 00:03:13 --> 00:03:27 | week, I try to at least try to inspire patients in the new students because they see these news drivers that our red folder or orange folder like high or medium |
| 11 | 00:03:27 --> 00:03:38 | impact news events. And it usually ushers in a lot of volatility and price fluctuations, which is exciting to a new trader. And impulsively, new traders |
| 12 | 00:03:38 --> 00:03:48 | like to go in and heavy handedly, over leverage their trading accounts, hoping that they get lucky. And that's like lottery trading. And I try not to promote |
| 13 | 00:03:48 --> 00:03:59 | that at all. And I try to beat it in your head. As much as you don't like to hear over and over again, new students have no excuse. Because when they come |
| 14 | 00:03:59 --> 00:04:09 | here to hear me preach very hard and fast about how you shouldn't try to do that. And I made the point this morning about how students of mine that are more |
| 15 | 00:04:09 --> 00:04:19 | mature, they're more seasoned. That means they have more experience, and they know what their model is. They themselves can trade on the Thursday and Friday |
| 16 | 00:04:19 --> 00:04:30 | of Non Farm Payroll. But as a responsible educator, I tried to convey the idea early on in your learning to try not to do that. Okay. And that way, it's in |
| 17 | 00:04:30 --> 00:04:39 | proper context, because I've done live trading of trading with real money. You've seen it in the last few years where I've done those days, I've done |
| 18 | 00:04:39 --> 00:04:51 | Thursday's of Non Farm Payroll and I've done the actual Non Farm Payroll event. And while that may be your justification in some of your eyes for you to do it, |
| 19 | 00:04:51 --> 00:05:05 | I don't think it should be okay. But they're wonderful studies for understanding and learning How the market will seek liquidity. Because there's no greater |
| 20 | 00:05:05 --> 00:05:15 | lesson to learn than looking at it on these days, because of the high degree of manipulation. And many times there can be manual intervention where even my |
| 21 | 00:05:15 --> 00:05:24 | stuff won't work in that environment. Because you'll, you'll see something you'll expect to see it, or me as the operator and the author of that crealogix |
| 22 | 00:05:24 --> 00:05:38 | stuff, I might do it incorrectly because of an outside influence. That creates a run on price that will be unexpected by me. And the season, or conditions that |
| 23 | 00:05:38 --> 00:05:55 | those environments produce that very event are like FOMC, CPI, the Non Farm Payroll Thursday and Friday of Non Farm Payroll week. So because of that, I |
| 24 | 00:05:55 --> 00:06:04 | teach my students to primarily focus on the Monday, Tuesday and Wednesday up till 11 o'clock, on Wednesday, after 11 o'clock, any trading that you do, if |
| 25 | 00:06:04 --> 00:06:14 | you're brand new, you're not seasoned as a trader, or not versed in how to read price action. If you're brand new, you should not try to engage it not even with |
| 26 | 00:06:14 --> 00:06:24 | a demo, because the results are going to be probably not supporting you. Okay? Or encouragement, okay, because you're probably gonna do something incorrectly. |
| 27 | 00:06:24 --> 00:06:35 | And you can do it incorrectly. And blow your funded account, challenge your funded account, your Live account, your demo, either one, either one of those is |
| 28 | 00:06:35 --> 00:06:44 | bad, especially if you've been told, especially by me, that you shouldn't if you're brand new, if you're a neophyte, you're not versed in how to read price |
| 29 | 00:06:44 --> 00:06:53 | action fluently. Try to avoid doing anything but just tape reading. Okay, so I was by myself, I was going to have my son with me this morning that he wasn't |
| 30 | 00:06:53 --> 00:07:03 | actually there. So it ended up becoming a little bit longer of a session that I wanted to do. And I spent time talking to you, unbeknownst to me that the audio |
| 31 | 00:07:03 --> 00:07:13 | wasn't going. And I've done this in the past with mentorship videos, where I've produced videos that were rather long, and then discovered later on that the |
| 32 | 00:07:13 --> 00:07:20 | microphone was muted, or the microphone wasn't plugged in. Or there was some other technical issue this morning. I don't know what happened. But it just so |
| 33 | 00:07:20 --> 00:07:30 | happens to be that was the same day that I did not ask like I did today. And like I usually do, because it's been fine. I haven't changed any settings on |
| 34 | 00:07:30 --> 00:07:39 | OBS. And for whatever reason, there was no audio. And I would love very much to be able to remember exactly what I said. And when I closed the live session this |
| 35 | 00:07:39 --> 00:07:47 | morning, I felt that it was one of the good ones. Because of the things I was talking about. I don't have a script. Like I don't have things that I say that |
| 36 | 00:07:47 --> 00:08:00 | I've typed out unreadiness why? It's very easy for me to go down tangents and rabbit trails and go off topic. But really, it's all part of the same thing. And |
| 37 | 00:08:02 --> 00:08:12 | for that, I apologize. I wish I could have had the audio because it was actually a very good thing. But I'm going to try to go through the salient points. Okay. |
| 38 | 00:08:12 --> 00:08:22 | And for the folks that like to see these things, and like be highly critical and say, Well, it's obvious now because hindsight, once I discovered that there was |
| 39 | 00:08:22 --> 00:08:35 | no audio, and everything that I was talking about audibly, and I was talking the entire time, because that's who I am. The idea of not having audio. I tried to |
| 40 | 00:08:35 --> 00:08:44 | condense everything I could write before the move this morning. And I want them to Twitter explained that the things I'm going to talk about here, this is what |
| 41 | 00:08:44 --> 00:08:53 | I was looking for. Okay, if you watch the live stream that does not have any audio, you'll see me pointing to certain things. And for students been around me |
| 42 | 00:08:53 --> 00:09:00 | a long time, you probably heard my voice talking to you, even though I wasn't seeing anything, because you know what I'm pointing to, you know what I'm trying |
| 43 | 00:09:00 --> 00:09:11 | to draw an illusion to not in illusion, but illusion or alluding to something that I've already taught in great detail. Now, as a new student, if you're brand |
| 44 | 00:09:11 --> 00:09:19 | new, it's going to seem like it was a complete waste to look at that whole entire live stream this morning, when there's no audio commentary. But there was |
| 45 | 00:09:19 --> 00:09:29 | levels in there that I was referring to. And I was going to come back later on this evening. And kind of like bring you back to where I was saying what I was |
| 46 | 00:09:29 --> 00:09:40 | expecting not to see what I was expecting to see and what we actually got. I want you to understand that this could have been a day where it didn't deliver |
| 47 | 00:09:40 --> 00:09:50 | like I wanted it to. And in fact, in the audio commentary this morning, I was actually saying, I want to be wrong today. Because that way it solidifies why |
| 48 | 00:09:50 --> 00:09:59 | you should respect the caution that I'm presenting to you as a student. When you come to me and you're trying to learn. I know where you're going to have a |
| 49 | 00:09:59 --> 00:10:08 | problem. I knew most of the questions you're going to ever ask me. And I know the progression of learning this is not going to be as fast as all of you want |
| 50 | 00:10:08 --> 00:10:09 | it to be. |
| 51 | 00:10:10 --> 00:10:20 | To help you stay in it long enough and not discourage yourself, I tell you when not the trade, not that you can't trade on this day, not that you can't trade |
| 52 | 00:10:20 --> 00:10:28 | tomorrow, your Non Farm Payroll, you can nothing saying you can't. But if you don't know what you're doing, the likelihood of you hurting yourself or getting |
| 53 | 00:10:28 --> 00:10:36 | emotional about doing something incorrect, or being lured into doing something opposite to what you thought was going to happen in price. And then it starts |
| 54 | 00:10:36 --> 00:10:44 | running it aggressively the other direction, and then chasing it, and then that'd be the wrong direction to and then turn a small little booboo loss into a |
| 55 | 00:10:44 --> 00:10:54 | larger drawdown or completely blow your account. That's the typical process or cycle that a trader doesn't know what they're doing does on this very week of |
| 56 | 00:10:54 --> 00:11:04 | trading every single month, when I was a younger man, every single time that I was blowing an account with real money, I was doing it on the first week of the |
| 57 | 00:11:04 --> 00:11:15 | month. Because my my association to the big fluctuations in price was if I get it right, I can make a lot of money. So that was always the constant lore. So I |
| 58 | 00:11:15 --> 00:11:23 | was kind of like talking about that throughout this morning's live stream telling you that I'm going to outline it. Okay, I'm going to outline exactly |
| 59 | 00:11:23 --> 00:11:35 | what I believe wholeheartedly that I think is going to happen. But I hope I'm wrong. I want to be wrong today, I want this to not do what I wanted to, say in |
| 60 | 00:11:35 --> 00:11:42 | the live stream. And then because I didn't have all that recorded an audio. I went on to Twitter and I told you exactly what I thought was gonna happen with a |
| 61 | 00:11:42 --> 00:11:50 | chart, it was gonna go up to a fair value get, and then start repricing for sell side, what's the sell side, everything I pointed to in the live stream. But in |
| 62 | 00:11:50 --> 00:11:59 | the chart, the initial draw was the one I showed you. Okay. So if you're not following me on Twitter, it's real easy to go over there and click on the link |
| 63 | 00:11:59 --> 00:12:07 | and scrub back through. There's a few tweaks that you'll see this, click on the media button in my profile, it'll take you right to the thing that I said, you |
| 64 | 00:12:07 --> 00:12:18 | know, I want to see NASDAQ trade up to the fair value gap, the pink or red fair a gap, you know, and I mentioned, there's a blue fair value gap that it used as |
| 65 | 00:12:18 --> 00:12:29 | it would I feel kind of uncomfortable talking about because I know there's a handful of you out there, they're just they love to be highly critical. And |
| 66 | 00:12:29 --> 00:12:40 | they're not really here to try to learn. They're just in here to do disruptive. And that's cool, I get it. But for the sake of the folks that want to learn, I |
| 67 | 00:12:40 --> 00:12:48 | feel like it is it I was really conflicted about even doing this review. Like I was just gonna leave it the way it is, you know, my long term students and the |
| 68 | 00:12:48 --> 00:12:55 | people that follow me on Twitter, they literally watched it unfold today. And we've been doing it for a long time. For the folks that had just recently |
| 69 | 00:12:55 --> 00:13:07 | discovered me, they had a chance to see me tweet very specific things, and then watched it deliver. So that's the takeaway, but the part you don't understand or |
| 70 | 00:13:07 --> 00:13:17 | know about because you couldn't hear me say it. I wanted it to fail today. Like I wanted me to be wrong, I really want it to be wrong. That way I can say see, |
| 71 | 00:13:17 --> 00:13:27 | this is why I tell you not to do it. But I can't do that today because it worked. So a little bit frustrated in that respect, because I wanted to be able |
| 72 | 00:13:27 --> 00:13:37 | to say see now I told you that's the why that's the why. Okay, everybody thinks when I say don't trade on Mondays, it's an every Monday thing when in fact, or |
| 73 | 00:13:37 --> 00:13:47 | Non Farm Payroll weeks, you want to be trading every single Non Farm Payroll week, Monday, every single Monday of Non Farm Payroll, I mean, they're trying to |
| 74 | 00:13:47 --> 00:13:56 | see a trade come to fruition I'm looking for I actively tell my students that look for Monday, Tuesday and come on 11 o'clock on Wednesday of that week, you |
| 75 | 00:13:56 --> 00:14:05 | stop. If you do anything, it has to be in a demo. Okay, it has to be demo. Because the likelihood of you having the experience or the ability to reprice |
| 76 | 00:14:05 --> 00:14:13 | correctly, and not be logged into the little fake outs, the little consolidations that all of a sudden spike in the direction that you weren't |
| 77 | 00:14:13 --> 00:14:22 | expecting the deep retracements that you weren't really expecting, you know, that type of thing causes emotions to rise up. And then you start making bad |
| 78 | 00:14:22 --> 00:14:29 | decisions and impulsive decisions in trading that that's what classically happened to me when I was younger. So I'm teaching you from experience, I'm not |
| 79 | 00:14:29 --> 00:14:37 | just talking about something conceptually, that I don't have any skin in the race where I didn't lose, I lost. And I blew dozens of accounts over my career. |
| 80 | 00:14:38 --> 00:14:47 | And there's no shame in the lessons that I tell you and why I'm so accurate when I share it on Twitter, all those lessons I learned from them. But you don't need |
| 81 | 00:14:47 --> 00:14:56 | to go through those same lessons to learn. Like, I'm trying to spare you that. And some of you just want to have the war scars so we can sit around in live |
| 82 | 00:14:56 --> 00:15:03 | streams or chats and say yeah, I got that too. I see. I'm just like you were brother in arms. cuz that's dumb, you don't want to do that I'm trying, I'm |
| 83 | 00:15:03 --> 00:15:15 | working very diligently to try to teach you in lectures, and encourage you not to make the same mistakes that I have. So that way it makes you better. You |
| 84 | 00:15:15 --> 00:15:25 | learn quicker as a result of it without trying to promise a speedily solution to what it is you're seeking as a model and, and discover yourself as a trader, |
| 85 | 00:15:25 --> 00:15:32 | because all that's going to take its course at its own pace, and no one can speed it up, you can't speed it up, it's going to happen. And it's natural |
| 86 | 00:15:32 --> 00:15:40 | progress and organically. But apart from that aspect of trading, and how to learn how to be a trader, the other things that I teach are pretty static. And |
| 87 | 00:15:40 --> 00:15:49 | there's got to be rules, okay, my son breaks the rules, and he doesn't do what I asked him to do, because he's bringing what to it, the human element, the unruly |
| 88 | 00:15:49 --> 00:15:57 | teenager, the, I don't want to listen to that, because I'm at that age where I'm getting to where I'm an adult, and I don't need to listen to everything dad |
| 89 | 00:15:57 --> 00:16:08 | says. And he wants to be able to say he did it his way, like every young man wants to do. But he's discovering that that's more right than he's wrong. And |
| 90 | 00:16:08 --> 00:16:17 | I'm without breaking his spirit and his will. He's learning by small little cuts, and he's realizing, okay, that that's just trying to do it the right way. |
| 91 | 00:16:17 --> 00:16:25 | And I'm resisting it. So I'm hoping that he'll come to the conclusion that he just seemed to me to listen to the old man. Okay, I've been around long enough |
| 92 | 00:16:25 --> 00:16:35 | to know that this is the way it works. Now, that was a long monologue. Okay. But that was kind of like the whole gist of what I was talking about as I was |
| 93 | 00:16:35 --> 00:16:44 | referring to certain things and why it's important to have this expectation about this particular week. And I didn't need to do it all over the course of |
| 94 | 00:16:44 --> 00:16:50 | like, 40 minutes spread out over that entire hour, because that's exactly what I did there. Otherwise, it was just me point a level and say, I want this to |
| 95 | 00:16:50 --> 00:16:59 | happen. I don't think this is gonna happen. So I'm gonna try to re redo that as best as I can. Knowing full well that I'm probably going to forget something |
| 96 | 00:16:59 --> 00:17:09 | because like I said, I just talk, whatever price was doing at the time, I was referring to it as it was happening. But to clear the whole thing and make it |
| 97 | 00:17:09 --> 00:17:18 | very clear and blunt. I literally gave you on Twitter, what it should have done. And it delivered like gangbusters. So there it is, there was no other thing out |
| 98 | 00:17:18 --> 00:17:27 | there that said incorrect. There was nothing that I did wrong. It was clearly outlined. But I wanted it to be wrong for the sake of being able to say, this is |
| 99 | 00:17:27 --> 00:17:37 | why I teach you caution on this week, okay? As a concession, and I had no intentions of doing this, I'm going to be live streaming during the Non Farm |
| 100 | 00:17:37 --> 00:17:44 | Payroll numbers tomorrow. So I'll start the livestream at eight o'clock, I'll check to make sure the audio is in place. That way everybody can hear me. And |
| 101 | 00:17:44 --> 00:17:51 | I'll stay with you until nine o'clock. And then after that, I'm gonna go over there and hang out with the number one day trader on YouTube, Patrick Whelan. I |
| 102 | 00:17:51 --> 00:18:03 | said that this morning in a live stream, and I wanted to get a rise out of him. But obviously, there was no audio. So it is what it is, I'm trying to be nice, |
| 103 | 00:18:04 --> 00:18:10 | okay, everybody tries to make me out to be a villain, okay, and make me out to be this. This guy that wants to start trouble all the time. I just want to be |
| 104 | 00:18:10 --> 00:18:20 | part of the community. And I'm not trying to be an adversary to anyone. But anyway, how are you liking until nine o'clock tomorrow? Now let's take a look at |
| 105 | 00:18:20 --> 00:18:37 | the NASDAQ on the hourly chart. You're gonna take that soundbite and run with it. I think he said the number one day trader Alright, so here is the hourly |
| 106 | 00:18:37 --> 00:18:46 | chart. And I don't believe I'm going to do this like that I need to have annotations. |
| 107 | 00:18:52 --> 00:19:09 | Alright, so I walked you through as it was happening. And I utilize the what is it here? Hang on, I apologize, a little disjointed, because I don't know why |
| 108 | 00:19:09 --> 00:19:10 | it's doing this. |
| 109 | 00:19:19 --> 00:19:29 | Don't know if that's truncating the borders? I hope it doesn't but if it does, I apologize. But I was using the electronic trading hours and the regular trading |
| 110 | 00:19:29 --> 00:19:42 | hours. And I went to regular trading hours. And I highlighted how the difference between where we settled the previous day and where we opened up and how we were |
| 111 | 00:19:42 --> 00:19:58 | using the opening range of the week. Okay, so there's new week opening gap and the high and low of that specific price level and toggling back into electronic |
| 112 | 00:19:58 --> 00:20:12 | trading hours We'll be looking at where we were trading at here on our chart. Here's Friday of last week. So there's your there's your closing price. That's |
| 113 | 00:20:12 --> 00:20:21 | what's been toggled and highlighted there that makes the new week opening gap low. And then where we opened up here on Sunday at 6pm. That's the beginning, |
| 114 | 00:20:21 --> 00:20:31 | the opening tick. That is the high of new week opening gap. So early on, in the week, we had Tuesday, we sold off, we traded down below that rejection block in |
| 115 | 00:20:31 --> 00:20:41 | here. And then it came all the way back up and traded inside of that new week opening that and when I was measuring was from the high and the low of that |
| 116 | 00:20:41 --> 00:20:50 | range here. That midpoint here is consequent encroachment. And what I was talking about this morning, was I'm not interested in getting a second hearing |
| 117 | 00:20:50 --> 00:21:03 | take it off. I was not interested in seeing price trade above this high. Whereas I was initially talking about it the day before I said I was interested in |
| 118 | 00:21:03 --> 00:21:12 | seeing when it was trading over here, I wanted to see it spike up there. But because we had broke below here and went lower, we have already swept the buy |
| 119 | 00:21:12 --> 00:21:21 | side. So while this was an initial interest for me, I was not saying that this morning, I was interested in it at all. And I was referring to how I talked |
| 120 | 00:21:21 --> 00:21:28 | about it beforehand. In another live stream. I said we were I was talking about how I'd like to see it sweep above that I think that's reasonable to expect that |
| 121 | 00:21:28 --> 00:21:36 | and you trade up there and go back down and I was taking your attention into here. And over here. Well, this morning, I changed gears and said No, I'm not |
| 122 | 00:21:36 --> 00:21:47 | interested in that, because we've already done a run here running up on the short term buyside liquidity there. And I'm not interested in needing to see it |
| 123 | 00:21:47 --> 00:21:58 | go above here, because we've already did what we've worked below the new weak opening gap low. Now since it's done that, it's kind of like tipping its hand to |
| 124 | 00:21:58 --> 00:22:08 | you. Whereas initially, I was looking for a scenario that would send us above this high here. Because we dropped down and went outside the lower side of the |
| 125 | 00:22:08 --> 00:22:18 | new week opening gap. It's kind of like indicating, saying, hey, look, I'm really going to drop, when the news comes out, I'm going to drop. So when it |
| 126 | 00:22:18 --> 00:22:28 | rallies, this next rally is going to be a suspect rally or treated like a Judas swing, like a fake, like a fake out. Okay. Now, what I was hoping was going to |
| 127 | 00:22:28 --> 00:22:36 | happen was because I outline it, and that's okay, we've already ran this shallow run above this, this high here and did this. And you'll see it in the live |
| 128 | 00:22:36 --> 00:22:46 | stream. And I went above it just a little bit. So even though this is very shallow, what can happen is it can still drop down and take this liquidity here |
| 129 | 00:22:46 --> 00:22:55 | and not go for this one, and not go for this one. Because all of this balanced price range in here, which we'll see in a 15 minute timeframe. It might not be |
| 130 | 00:22:55 --> 00:23:04 | enough to get through it today. And they may need to do it tomorrow. And what will happen probably is it'll go down below this one, and then spike up and then |
| 131 | 00:23:04 --> 00:23:14 | run that later on. And that's where I would be wrong. Okay. So that that was the argument I was trying to present that even though I'm going to outline it, even |
| 132 | 00:23:14 --> 00:23:23 | though I want it to behave a specific way. And this is how I would treat it based on this. Where I'm going to be wrong. Okay. And I want you to understand |
| 133 | 00:23:23 --> 00:23:31 | you would not have known this had I'm not talking about it now. Because you didn't hear the audio. But I'm walking you through the chart points certain |
| 134 | 00:23:31 --> 00:23:41 | things. The fact that I'm teaching it to you is because I want you to understand that there is risk here. And it just so happens that I happened to be right |
| 135 | 00:23:41 --> 00:23:53 | again this morning, when I was in my mind thinking, Okay, this is still reasonable where it can pan out. But I'm allowing for a scenario where it could |
| 136 | 00:23:53 --> 00:24:01 | still very well go up here and take that high up. And I would be wrong. And if I was trading with a real account today, I would have taken a loss if that |
| 137 | 00:24:01 --> 00:24:11 | happened. But because I'm teaching you to respect that risk. I don't want to come out here and say, Okay, here's another day where I made $15,000. And this |
| 138 | 00:24:11 --> 00:24:25 | is how I did it. Here's a dose. I'm trying to convey this. Certainly you adopt it early on, and you learn to be disciplined. It went up there. And it was a |
| 139 | 00:24:25 --> 00:24:35 | very, very shallow run. And because we went below the new week opening gap, it failed. logic why I was trusting the fact that it was just a shallow run above |
| 140 | 00:24:35 --> 00:24:50 | that high here. It did it and it rejected it. So that was good. It was occurring ahead of the 830 News, release of the employment data. So if it's gonna fail to |
| 141 | 00:24:50 --> 00:24:59 | get to a level, What level am I referring to the new week of any gap high. So it failed to get there. So what is it telling me? It's telling me that when it |
| 142 | 00:24:59 --> 00:25:12 | broke Below it ahead of time, it moved outside of it say, Okay, any rally from here. If it rallies, it's going to be setting up a false run higher, that means |
| 143 | 00:25:12 --> 00:25:24 | faded. Treat it as a Judas swing. Okay? And where would the liquidity baby here and here. So what's going to have more liquidity above this swing high or this |
| 144 | 00:25:24 --> 00:25:31 | one? Here's a trick question for some of you, you may not know it. And if you don't have it, right, if you don't get it, right, it's okay. This is where you |
| 145 | 00:25:31 --> 00:25:46 | get to learn. To drink, this short video is getting longer in it. There's going to be more liquidity above this high, even though this is slightly higher, |
| 146 | 00:25:46 --> 00:25:55 | because there's more volume, because the bodies and how much time it spent making that swing high. This high here is just one singular candle, right, and |
| 147 | 00:25:55 --> 00:26:05 | it's a wick. But this one here is a little bit more lengthy in terms of well how long it took before it turned away and went the other direction. And the bodies |
| 148 | 00:26:05 --> 00:26:15 | are telling you what the narrative, it's the storyline that's inside the bodies of the candles, even though the damage is done by the wicks. This is telling you |
| 149 | 00:26:15 --> 00:26:24 | that the liquidity, the extreme, it would be above here, so you got to allow for that, right. But in here, the majority of the run for that liquidity is going to |
| 150 | 00:26:24 --> 00:26:35 | be to this high, which is why you see the bodies here being where they are and not needing to go above that high. So I was mentioning that in in this morning's |
| 151 | 00:26:35 --> 00:26:44 | discussion. And I was a little disappointed because it is a really good idea to look through your past that testing data, when you're looking for relatively |
| 152 | 00:26:44 --> 00:26:53 | equal highs. The easiest one to expect a run on liquidity. Which one would you have your limit order one. Now everybody wants to have a limit order sitting |
| 153 | 00:26:53 --> 00:27:01 | right there. Right, because it's in hindsight, it's perfect. You know, you want to use the best scenario when you're trying to learn. But that's not what you |
| 154 | 00:27:01 --> 00:27:11 | should be doing. You should not use the best case entry scenario, you should use the worst entry point, but still fit the criteria for your model. Using that as |
| 155 | 00:27:11 --> 00:27:20 | your back testing data. Because you can form fit this stuff, and torture the data. And you can have that tested data that is total bullshit. And you don't |
| 156 | 00:27:20 --> 00:27:28 | want to have that you want to have data that's realistic, you're not going to get the highest tick, okay, you're not going to get the lowest tick, try to get |
| 157 | 00:27:28 --> 00:27:40 | something in the middle or very, very close to the worst case scenario. And to be realistic. And give yourself that the highest form of reality, use the worst |
| 158 | 00:27:40 --> 00:27:51 | case fill for yourself the least amount in terms of profitability in the worst entry point. But still meeting the criteria. Anything above this high here, |
| 159 | 00:27:51 --> 00:28:02 | okay. So what that would be is basically that high one tick. That's where you would have your limit order sell short that not here. And chances are, if you |
| 160 | 00:28:02 --> 00:28:11 | had it right there, you may not have been filled, how many orders were being booked and filled on that wick just at that tick high on this candlestick, |
| 161 | 00:28:12 --> 00:28:21 | you're not going to get hundreds of contracts there. So the chances of you being the lucky could participant, okay? The Price Is Right, and you get to be called |
| 162 | 00:28:21 --> 00:28:34 | and come on down, you get a car, you get the application like that will prices ratio, the price might be wrong for you, okay, and you won't get filled. And |
| 163 | 00:28:34 --> 00:28:41 | it's very frustrating. And I've talked about this this morning, where I went into the lower timeframes, and I was talking about my son's model. And we'll get |
| 164 | 00:28:41 --> 00:28:49 | into that, and I explained how the market could come up into a fair value gap. And it did, this would be his model. And now it's pointing to the sell side |
| 165 | 00:28:49 --> 00:29:00 | liquidity, but it never gave the fill. And I talked about how and let me save it for that part. Just have fun, make a mental note of it. I don't forget that |
| 166 | 00:29:00 --> 00:29:17 | part. But the the opening range gap Hi. Here is the daily settlement from the previous day, using regular trading hours. That's what this is here. Okay. So if |
| 167 | 00:29:17 --> 00:29:20 | we're opening below, or we're getting close to trading |
| 168 | 00:29:22 --> 00:29:34 | the opening bell at 930. If we are at electronic trading hours below that previous settlement price, using regular trading hours, you highlight that and |
| 169 | 00:29:34 --> 00:29:45 | that's why I have on my charts opening range gap high if we were trading above it and at 930 We opened and previous settlement date or pre settlement price is |
| 170 | 00:29:45 --> 00:29:56 | below it, then this would be labeled opening range gap low. Okay. You want to at least have that on your chart, because it's going to be many times like a magnet |
| 171 | 00:29:56 --> 00:30:06 | it'll, it'll cause price to revert backed up many times, not many times intraday, but many times on the daily range, it will try to get back to that |
| 172 | 00:30:06 --> 00:30:16 | price level, it may not be successful in doing it, it may make it a really good solid attempt to do so. But then fall out of interest. And then the algorithm |
| 173 | 00:30:16 --> 00:30:29 | will start repricing and sending price the other direction. That in itself is its insight that's helpful for framing or confirming a narrative or proving that |
| 174 | 00:30:29 --> 00:30:38 | your narrative that you went into day with is incorrect. So it's a lot going on in that first 30 minutes. That's why I use a 30 minute opening range. This is an |
| 175 | 00:30:38 --> 00:30:49 | opening range gap. That means the previous day's settlement and where we open at 930. Okay, so that's the distinction between the timeframes. And what I'm |
| 176 | 00:30:49 --> 00:30:56 | labeling there, what I'm showing you, I've already told that I've already taught this, by the way, it's a teaching opening range gaps, it's very simple tutorial |
| 177 | 00:30:56 --> 00:31:11 | for that very long. strap into, oh, I mentioned how when price was in here, you know, if it runs that shallow in the 30 News driver, since price lower, I want |
| 178 | 00:31:11 --> 00:31:22 | to see how it attacks the liquidity here in here. And in this area, when we go down to a 50 minute timeframe, this gap here, I call out the 700 level. But I'm |
| 179 | 00:31:22 --> 00:31:32 | not really referring to it to the to the tick, I just mentioned it in passing that if we get through all of this area in here, we could come back down and |
| 180 | 00:31:32 --> 00:31:40 | maybe spike through the gap that's forming or formed here, right there. I'm not showing you with my cursor, okay. So that way, the people that want to come back |
| 181 | 00:31:40 --> 00:31:48 | and say he didn't say this, he didn't say I didn't say anything, it's as far as I'm concerned, you didn't hear me say anything. The audio wasn't working. But I, |
| 182 | 00:31:48 --> 00:31:57 | in my analysis, talking audibly, I was saying that we could see it trade down to the 700 level and spike through it. But I would want to see the body state |
| 183 | 00:31:57 --> 00:32:09 | inside or above this gap, because that'll give me range for tomorrow. And that's what I was referring to in audio. So it doesn't matter, okay, it doesn't matter. |
| 184 | 00:32:09 --> 00:32:19 | Because I show you a very specific price level of 14,000 804. As a sell side, I do have a level there. And I'll talk about that as the easier low hanging fruit. |
| 185 | 00:32:19 --> 00:32:29 | So while I'm not drawing all that much attention here, I did mention 700 in the audio. Forget that I even mentioned it, but I'm doing it for the sake of honesty |
| 186 | 00:32:29 --> 00:32:38 | and continuity. I'm trying to fill in everything that I didn't have out in audio for you to hear at the time during the live stream. But even with that out of |
| 187 | 00:32:38 --> 00:32:53 | it. Okay, say I didn't say when I did, but say I didn't. It's irrelevant. Okay, it's irrelevant. 15 minute timeframe, we're gonna drop down into nail. Right, |
| 188 | 00:32:53 --> 00:33:04 | and here is the high of that wick. Here's all those candlesticks creating that more meaningful, more prominent, swing high where the liquidity is going to be |
| 189 | 00:33:04 --> 00:33:16 | larger here than it would be over here. So a good exercise would be for you like if you'd like to use those tools and crutches that retail traders would lean on, |
| 190 | 00:33:16 --> 00:33:25 | which is like a book mat. Or if you'd like looking at level two data and you trust it, I don't trust it, because it can be spoofed. Test this stuff when |
| 191 | 00:33:25 --> 00:33:35 | you're watching price real time. Okay, see if there is not a larger pool of liquidity where there's a high that has no bodies. Whereas if you look at a |
| 192 | 00:33:35 --> 00:33:44 | height, it's mainly predominantly created on the basis of a wick. There isn't a whole lot of about it, there's not a whole lot of volume, in that wick in |
| 193 | 00:33:44 --> 00:33:54 | relationship to the volume would be in the swing high here. There's a whole lot more trades being booked here than there is on this one single candle inside |
| 194 | 00:33:54 --> 00:34:03 | that wick. That's really what I'm trying to get up. So hopefully that was a better way of saying what I was trying to say earlier. Like I said, I wish I |
| 195 | 00:34:03 --> 00:34:12 | could have had the audit because of the way I described it this morning was just really good. I felt real confident that I conveyed it very clearly, succinctly |
| 196 | 00:34:12 --> 00:34:22 | in it is, you know, like I said, I don't have a script. So it just came out nice this morning. I can't recapture that moment. But the buyside is swept here, the |
| 197 | 00:34:22 --> 00:34:32 | candle here at eight o'clock, we start to see it break down. And the new week opening get low. It pierces that so I was referring to how we broke down through |
| 198 | 00:34:32 --> 00:34:39 | it. I liked the fact that we went through the the fair value gap that was formed around six o'clock. I'm not pointing to it, I'm talking about it. So we went |
| 199 | 00:34:39 --> 00:34:49 | below it here. So where was the close on that candle here? Right here. It's below it. It wasn't like we just had a mohawk which is like a little wick or |
| 200 | 00:34:49 --> 00:34:59 | tail on a candlestick which is absolutely permissible. This is indicating a whole lot more is going on here. So if that's the case, then we can go back and |
| 201 | 00:34:59 --> 00:35:09 | read revisit all of this imbalance in here, all this right here, and anticipate the market likely coming back up into that. So on a five minute basis |
| 202 | 00:35:18 --> 00:35:30 | long as a lot of this here on a five minute chart, we're seeing the how the market breaks aggressively lower here, even on the five minute chart. And a lot |
| 203 | 00:35:30 --> 00:35:40 | of the conversation I was having this morning, it was with the benefit of me having, you know, a laptop sitting on my lap, my son wasn't with me, I wanted |
| 204 | 00:35:40 --> 00:35:50 | him to be with me for the duration of the morning. And I have charts in monitors in front of me too. So about I guess it would be like 10 feet from me, I have |
| 205 | 00:35:51 --> 00:36:02 | 12345678 24 inch monitors. And I casually look over there and I look at see what these other markets are doing in the timeframes that I have zero down on each |
| 206 | 00:36:02 --> 00:36:13 | one of these monitors. So I'm I was commenting on how I like to the difference between how the E Mini s&p was behaving in relationship to the NASDAQ. And for |
| 207 | 00:36:13 --> 00:36:22 | those who understand SMT, you can go and look at your charts. So I mentioned a couple things in passing this morning about how it doesn't agree with the price |
| 208 | 00:36:22 --> 00:36:32 | action. And I think this is going to be met with heaviness as the NASDAQ rallies back up to to the opening gap range. I'm sorry, opening range gap high, which is |
| 209 | 00:36:32 --> 00:36:43 | this, again, this level here. And that is the previous settlement price on regular trading hours. Okay? When you have that wherever we stopped trading, |
| 210 | 00:36:44 --> 00:36:53 | using regular trading hours, you want to have a line segment like I use this one down here, see over here, horizontal way, wherever you will be stop trading, |
| 211 | 00:36:53 --> 00:37:03 | using the regular trading hours, as soon as it does that easiest thing you can do is immediately toggle it right there, drop it on your chart and label it you |
| 212 | 00:37:03 --> 00:37:16 | know, opening range gap settlement, and you adjust it where this would show high, you just want to have this initial. Okay, this is how I teach my son, then |
| 213 | 00:37:16 --> 00:37:26 | that way, you know if I'm teaching him this way, it's good enough for you to Okay, and what will happen is as you're watching price ahead of 930. So around |
| 214 | 00:37:26 --> 00:37:38 | nine o'clock 915 You start paying attention to it. And are we above or below that previous day's settlement price? Using regular trading hours, okay? On |
| 215 | 00:37:38 --> 00:37:47 | trading view, so I don't care if you don't like using trading view, I have to have a medium that everybody has access to. Okay, when I was teaching Forex, I |
| 216 | 00:37:47 --> 00:37:56 | predominantly use mp4 until it was shown how it can be rigged and gained. And I didn't do in these things that people accuse me of. I've never used a white |
| 217 | 00:37:56 --> 00:38:02 | label broker. I don't know anything about how to do it. I know it can be done. I know other people have done it. I suspected a lot of times it was fake, but I |
| 218 | 00:38:02 --> 00:38:11 | didn't know what would have been used to do it. So I I asked the community collectively, I said, I don't want to use Mt. Four. And I don't want to use MT |
| 219 | 00:38:11 --> 00:38:20 | five because I think it's the same bullshit. So what medium Should we all go to my community collectively said use TradingView. And we all migrated to this, |
| 220 | 00:38:20 --> 00:38:29 | okay? I can't gain this, I can't rig it, I can't do anything. I literally call the stuff before it happens. I've sat in live streams, and called every single |
| 221 | 00:38:29 --> 00:38:43 | fucking candle and did it live not just once, weeks, months, and for years now I have a litany of user groups in a paid setting where they all watch me do the |
| 222 | 00:38:43 --> 00:38:51 | same fucking thing. Okay, they all watched it. I don't know how else to do it, except for sitting out here and do the order entry in front of you, which I'm |
| 223 | 00:38:51 --> 00:38:58 | not going to do because everybody else is ripping me off and you can just see it, I'm not going to make them look smart. So they can sell their signals that |
| 224 | 00:38:58 --> 00:39:09 | they're really just parroting what I'm doing. But the settlement price label here, you would change it to if the price between 915 and nine o'clock is if |
| 225 | 00:39:09 --> 00:39:22 | it's if the real time price is above that summit price, then you would label it the well if the real time price between nine o'clock and 15 minutes after nine |
| 226 | 00:39:23 --> 00:39:31 | before the opening bell, New York local time, everything I'm talking about time wise is always New York local time. Okay, so East Coast Time, Eastern Time, if |
| 227 | 00:39:31 --> 00:39:39 | priced at real time between nine o'clock and 915 before the opening bell New York local time. If it is below the settlement price, you would change that |
| 228 | 00:39:39 --> 00:39:51 | settlement label too high. Okay, real simple, right? Real easy is not terribly complicated, but that's how I teach my son. That price that previous settlement |
| 229 | 00:39:51 --> 00:40:02 | price is going to many times be revisited. Regardless of what the daily range does. It doesn't it doesn't necessarily imply Were mean that it needs to go back |
| 230 | 00:40:02 --> 00:40:09 | up there to go down, it doesn't mean that it can't go up there and keep going higher and not even revisit going back down as a support level, it just means |
| 231 | 00:40:09 --> 00:40:20 | that it's going to want to gravitate back to that, usually within the first 30 minutes. Not always, it's not a hard and fast rule where, you know, you can set |
| 232 | 00:40:20 --> 00:40:29 | your whole lifestyle around it doesn't it's not cast in stone, basically, it's just a thing that I like to look for the markets likely to do it, and how it |
| 233 | 00:40:29 --> 00:40:38 | does it. How does it perform that function? This morning, I was referring to because we had the SEBI here at 830. the sell side announced by Simon |
| 234 | 00:40:38 --> 00:40:47 | efficiency. And because it had that on the five minute chart, we're going to drop down to a one minute in a second, I felt very confident that we would see |
| 235 | 00:40:47 --> 00:40:57 | it draw back up into this. And but once it gets into this area here and touches, it needs to touch the opening range gap high, which is that level here. Once it |
| 236 | 00:40:57 --> 00:41:06 | touches it, we can allow for the market trading just a little bit outside of that fair value debt, which we'll show specifically on the one minute chart, |
| 237 | 00:41:06 --> 00:41:15 | which is what you're seeing highlighted here. Okay. But I said remember that we can see it trade outside of that fair value gap. Because we're in the early |
| 238 | 00:41:15 --> 00:41:27 | stages of what the opening range and 930 tends to be a little bit wild in we can see a little bit of discrepancies that would otherwise in like between 10 |
| 239 | 00:41:27 --> 00:41:37 | o'clock and 11 o'clock, there's far less likelihood of a mohawk forming it can, but we really want to expect the form and we're in a fair bit of debt that we're |
| 240 | 00:41:37 --> 00:41:46 | watching and stalking between 930 and 10 o'clock, because there's a whole lot of orders coming in, everything's being piped in at first 30 minutes. It's amateur |
| 241 | 00:41:46 --> 00:41:52 | hour, everybody's trying to do whatever they think isn't possibly the right thing for them to do because they're in a chat room, they're in some kind of |
| 242 | 00:41:52 --> 00:42:01 | signal service and everybody wants to follow the leader Okay, so because of that it's going to create these errant price actions where it goes beyond the level |
| 243 | 00:42:01 --> 00:42:11 | of precision, but we allow for that which is what I refer to as a mohawk. Okay. And we're going to drop down into the limit chart now and try to finish this |
| 244 | 00:42:12 --> 00:42:29 | discussion. So, in here there was a few things that I was looking at how when it was trading here, first of all, the fear of a gap highlighted was this candles |
| 245 | 00:42:30 --> 00:42:47 | low widen a little bit this candles low that candles high. Okay, so that's the sell side unbalanced bison efficiency specifically, which is a fair value. |
| 246 | 00:42:48 --> 00:43:00 | Meaning that it's a sell side imbalance. That means the imbalances on the sell side it needs to be one, repriced higher, so it's inefficient and we're by side |
| 247 | 00:43:00 --> 00:43:11 | delivery. So the market will seek to trade higher to reprice back up into this candles low or as I mentioned in the audio, this moment, you didn't hear it can |
| 248 | 00:43:11 --> 00:43:22 | trade to the midpoint of this up close candle which is mean threshold. That's perfectly permissible. So I said How far can it was going to have any Mohawks or |
| 249 | 00:43:22 --> 00:43:29 | trade beyond this because I was talking about how when it was forming these right here, I said be careful because that's relatively equal highs, we could |
| 250 | 00:43:29 --> 00:43:38 | probably see a mohawk form getting above here and getting outside the fair value gap and how far would I be willing to let it trade to and not freak me out? As I |
| 251 | 00:43:38 --> 00:43:47 | said, remember this close candle here that's going to be a factor in the mean threshold that as long as we don't close above that, everything's still looking |
| 252 | 00:43:47 --> 00:43:55 | like it's gonna go lower. I might be wrong, and I may be wrong and this is the reason why you don't want to be trading as a brand new trader with real money on |
| 253 | 00:43:55 --> 00:44:02 | nine o'clock here all week, Thursday and Friday. That was what I said this morning. You can't hear me saying it but you've heard me fucking say this dozens |
| 254 | 00:44:02 --> 00:44:12 | of times in other videos and other Twitter spaces I've said this at nauseam okay, I'm not cherry picking certain things to say here I'm literally telling |
| 255 | 00:44:12 --> 00:44:23 | you how everything I've talked about before is being applied in this very day. So we get the Mohawk here. So we clean up these these relatively equal highs and |
| 256 | 00:44:23 --> 00:44:33 | spike through it here. And I said now we want to see it reprice aggressively below the swing low that's right there prior to all this run up I said watch |
| 257 | 00:44:33 --> 00:44:42 | this fair value gap in here which is the separation teen this candles high I'm sorry, this candles low and this candles high and that's the buyside amount so |
| 258 | 00:44:42 --> 00:44:53 | Simon efficiency Faraday got that one right there. So the eight minute after nine one minute candle. I said that's going to be influential this morning. And |
| 259 | 00:44:53 --> 00:45:01 | you want to be watching because it's going to probably either if I'm wrong and it never goes back up to that fear Vega and just just drop straight off, we can |
| 260 | 00:45:01 --> 00:45:10 | use it as an inversion fair value. But if it trades around it in above it, and comes back down and touch it, it'll use it as a springboard to get up into that |
| 261 | 00:45:10 --> 00:45:17 | fair value gap that's read. Look at the bodies here. Look where they're stopping at. |
| 262 | 00:45:18 --> 00:45:32 | The close is on the very candles tick high, or that candle which is the low of the fair bank got that shaved and blue. It's high as 14,886 and a half. What's |
| 263 | 00:45:32 --> 00:45:44 | the close on this candle right here? 14,886 and a half. That's perfect. That is algorithmic? That has fuck all to do with Elliott Wave has nothing to do with |
| 264 | 00:45:44 --> 00:45:55 | Wycoff has nothing to do with anything that's related to anything you would see in a book anywhere else except for people that make books now with my stuff. And |
| 265 | 00:45:55 --> 00:46:11 | then we came back in touch to here. What's this candles? Low? 14,000 888 even? What's the low of this candle here? 14,000 888 even perfect. You're gonna |
| 266 | 00:46:11 --> 00:46:18 | fucking tell me that's buying and selling pressure to causes that bullshit. So it rallies up into now saying as it was having said that, here's we're having |
| 267 | 00:46:18 --> 00:46:31 | we're having that rally. And this is this is the moment. Okay, this is the very moment where I am sitting in. Right now I have seven live streamers that I sit |
| 268 | 00:46:31 --> 00:46:41 | in their room, I only really try to talk to two of them that's traded by Matt once in a while, once in a while. And sometimes I'll check and say something in |
| 269 | 00:46:42 --> 00:46:51 | Patrick Whelan's live stream, but usually, there are so rowdy in unity, they get a rise out of me. So I ignore all that bullshit. But I love reading those two |
| 270 | 00:46:51 --> 00:47:04 | chats and the other gentleman's live streams because they have their chat window open. And I'm reading their audience. And I'm looking for very dogmatic opinions |
| 271 | 00:47:04 --> 00:47:16 | about we're going higher, we're going lower and it's on Kenny is literally uncanny when they are collectively all barking about how it's absolutely going |
| 272 | 00:47:16 --> 00:47:26 | to go higher. And I'm outlining, it's going to go lower. I'm right. I'm right. That's the way I'm looking at as the trader, that sounds arrogant, it sounds |
| 273 | 00:47:26 --> 00:47:34 | conceited. It sounds narcissistic, but it's the fucking truth. And I'm being honest, I want you to investigate it yourself. Don't just take my word for it. |
| 274 | 00:47:35 --> 00:47:45 | I'm not saying that every one of those people are failed traders, on this thing as a consensus as a sentiment or a market vein indicator without having anything |
| 275 | 00:47:45 --> 00:47:55 | on your chart. You're seeing people take the time to type in on their keyboard, the tell other people, why would they want to do that? There's two things I |
| 276 | 00:47:55 --> 00:48:06 | mentioned this this morning, there is a team mentality, like a tribe mentality. You know, like our community gets a lot of flack because we call bullshit on |
| 277 | 00:48:06 --> 00:48:12 | everything else. We don't think anything else has anything to do with why prices are going up. And that's because they they say what I have said, and I have |
| 278 | 00:48:12 --> 00:48:23 | proven not at one time, but for years, to a degree of precision that no one else is able to do. That's why our opinion, that's why my opinion is that everything |
| 279 | 00:48:23 --> 00:48:32 | else is nonsense. I'm not stating that anyone else's methodology or their approach to trading can't be profitable for them. I'm just saying the root cause |
| 280 | 00:48:32 --> 00:48:41 | of why price is doing what they believe it's doing has absolutely nothing to do with what they're subscribing to, or what tools they refer to. It's literally |
| 281 | 00:48:41 --> 00:48:50 | timing price, only inefficiencies and liquidity. That's what goes on. That's what these algorithms are referring to. They the algorithms that are pushing |
| 282 | 00:48:50 --> 00:48:58 | price around, they're not cycling through a bunch of retail bullshit. And what's what they're going to use today. What's the flavor of why we're going to make |
| 283 | 00:48:58 --> 00:49:04 | price go up today? Is it going to be Elliott Wave? Is it gonna be supply and demand is gonna be Support Resistance, it's gonna be moving average crossovers. |
| 284 | 00:49:04 --> 00:49:13 | There's no way that there would be a way for that to be systematic in choosing what school of thought we're going to use. Because every fucking single one of |
| 285 | 00:49:13 --> 00:49:28 | those things are not in agreement. They don't all agree if they all agreed 90% Losers wouldn't exist one day, the statistics are 90% of traders lose. So if all |
| 286 | 00:49:28 --> 00:49:37 | those things worked in everybody trades with the same bullshit they every everything that I'm doing, they say I renamed before if that's the case, then |
| 287 | 00:49:37 --> 00:49:49 | why the fuck is my shit work 90% Plus, and everybody else's stuff doesn't if I just renamed it. I'm saying that facetiously because at some point, and I said |
| 288 | 00:49:49 --> 00:49:59 | this this morning, at some point you have to concede and realize that what we're showing you here is the market. This is it. This is the source code. This is the |
| 289 | 00:49:59 --> 00:50:10 | shit that you don't know about. And nobody else out there can replicate it with retail bullshit, it doesn't work. It doesn't, it doesn't cut to the core truth |
| 290 | 00:50:10 --> 00:50:19 | of what makes price go where it does, where it stops to the tick, and then does what we're expecting it to do. How many times can someone be consistently |
| 291 | 00:50:19 --> 00:50:30 | accurate with precision like this, and use something outside of what I'm trying to teach you, and it's not linked to anything else. So that's what I was trying |
| 292 | 00:50:30 --> 00:50:38 | to promote that whole school of thought and challenge everybody this morning. And it wasn't with that many curse words. But I'm frustrated, because the way I |
| 293 | 00:50:38 --> 00:50:46 | said it this morning was more eloquent. And it didn't say anything blue collar. And I was really satisfied with my delivery. And I wish I could have captured |
| 294 | 00:50:46 --> 00:50:57 | that audience because it was very, very good. It was very good. I was proud of it I was happy about and I was waiting for the feedback on Twitter. And it was |
| 295 | 00:50:57 --> 00:51:08 | like, There's no sound, bro. Like, what the fuck. So anyway, we want to see it, trading below this low here, and it spiked through one more time. And I said on |
| 296 | 00:51:08 --> 00:51:18 | that candle at the close, we want to see it big get bigger, we want to see it become extremely heavy, that means it needs to leave now. So here we have it, we |
| 297 | 00:51:18 --> 00:51:28 | open right at the opening range gap high, starts to break lower. I said this candle as it was trading up, I said watch and see if it touches the low end of |
| 298 | 00:51:28 --> 00:51:36 | the fair value gap, this pink, the red one, because we would act that would act as another touch algorithmically where if it does hit it, we want to see it. |
| 299 | 00:51:37 --> 00:51:44 | Like basically, the way our immediate rebalance would behave, where it touches it and immediately runs away. Well, does it get to it here, let me let me zoom |
| 300 | 00:51:44 --> 00:51:55 | in a little bit. See how it falls just short of it. And then it becomes real heavy. I mentioned as it was doing that, that's really good. That's a good |
| 301 | 00:51:55 --> 00:52:07 | signature. That failure to touch it again, means that we're off to the races. Where's it going? Initially, it's here. And I said, if we break harder, you want |
| 302 | 00:52:07 --> 00:52:14 | to watch that same fear that you get, because if it does come back up and touch it, it's going to act as an inversion for your Vega. But there was no necessity |
| 303 | 00:52:14 --> 00:52:23 | for me draw it out. When you see me teach this you see me doing in my life trading examples. I've used this logic, okay, it didn't trade back up to a close |
| 304 | 00:52:23 --> 00:52:31 | enough for me draw it out. Drag it over to the right side, when I'm talking about on Twitter LC, use the fear Vega at this specific candle by time or |
| 305 | 00:52:31 --> 00:52:40 | timeframe. And I say extend it to the right. Well, what I'm teaching you is look at it as a potential inversion for Vega. What was there was no necessity for me |
| 306 | 00:52:40 --> 00:52:47 | to do that here. And this is why you don't see me doing in the recording. But audibly I was saying, if we were to if we started to trade higher in here, as |
| 307 | 00:52:47 --> 00:52:55 | I'm watching this candle here, I may want to extend that value gap over but until it gets there I'm not interested this is watch and see how it behaves. |
| 308 | 00:52:56 --> 00:53:05 | This is something you would have done without me showing you this. It's a way it is you whenever you have a fair value gap that you've utilized early in the |
| 309 | 00:53:05 --> 00:53:14 | session. Immediately after the the opening range or while the opening range is underway. And there's displacement, which is what we're seeing here. It breaks |
| 310 | 00:53:14 --> 00:53:24 | aggressively below that low. Once we cut through the new week opening gap low that acceleration and delivery lower than I was mentioning this morning that it |
| 311 | 00:53:24 --> 00:53:33 | should start spoiling fast, aggressively seeking sell side. So in your mind, you would be looking at this and for your for your back testing for your journaling. |
| 312 | 00:53:34 --> 00:53:44 | It's this low here. And because that's the first area of sell side, we don't want to see it just hit that and have a deep retracement or sharp retracement. |
| 313 | 00:53:44 --> 00:53:53 | We don't want to see that. And the first stage of sell side if we're going to be bearish. We don't want to see price come back up to an inefficiency right away |
| 314 | 00:53:53 --> 00:53:59 | real quick or deep. Why would we? Why would we want that to happen? Or not to happen rather? |
| 315 | 00:53:59 --> 00:54:09 | Because we want to see imbalances stay imbalanced? Because it's indicating that there's a lot of heaviness. What do I mean by that? Well, this down close candle |
| 316 | 00:54:09 --> 00:54:20 | here. It's piercing through the new week opening gap Whoa, that's a significant level for the wait for the weekly range. And we're having the tail end of the |
| 317 | 00:54:20 --> 00:54:27 | week, which is you know, Thursday, we're having employment number data coming in at 830. Everything's happened now at the opening at 930. And so we add to all of |
| 318 | 00:54:27 --> 00:54:40 | this run here which is a Judas swing. Then we add displacement below here. We're piercing a level or a PD array that's relevant to the weekly range. So if that's |
| 319 | 00:54:40 --> 00:54:49 | happening at a time of the day when the damage is already done, we went up into a short term premium. We've taken by side here. Traders are trapped on a |
| 320 | 00:54:49 --> 00:55:01 | breakout above here. And we've retraced deep enough to rebalance this area back to this order block. We went back and forth in here and then we left range. So |
| 321 | 00:55:01 --> 00:55:11 | now this, this imbalance or fair value gap is a balanced price range, there's no necessity for me to anticipate a return even back to the halfway point or |
| 322 | 00:55:11 --> 00:55:21 | consequent encroachment. So I was referring to how they stop loss, if you had a short one could be moved just above the halfway point of this fair value that it |
| 323 | 00:55:21 --> 00:55:34 | can be placed in the upper quadrant. And you can leave it there for the duration of the trade. The next level of Southside is here, right there. And if you go |
| 324 | 00:55:34 --> 00:55:42 | back and look at the live stream, again, you don't hear me say it, but I put the actual level on 14,000 804 in the swing level of that. |
| 325 | 00:55:54 --> 00:56:09 | This low here. And I talked about how this level is kind of like the low hanging fruit objective for the Lions portion of the day. If it was to go further, and |
| 326 | 00:56:09 --> 00:56:16 | trade down into the seven hundreds and overshoot a little bit, that will be fine, I wouldn't be in the trade for that, that much of the run is what I'm |
| 327 | 00:56:16 --> 00:56:25 | saying. And why I wouldn't hold it for that long because it's a Non Farm Payroll wheat protocol. And this is where I would have the cap for my trade objective on |
| 328 | 00:56:25 --> 00:56:33 | the downside. And that's what I was referring to when I had that level highlighted. And you can go back and look at the the timeframe over the chart in |
| 329 | 00:56:33 --> 00:56:46 | the black drum as I was doing. It's the big blue horizontal ray in the live stream. And it's essentially the 14,084 level. Going back to the delivery and |
| 330 | 00:56:46 --> 00:56:59 | price over here. On the chart example, I gave this here as you This is where your sell side will be. So from this level here go up to this to trade for then |
| 331 | 00:56:59 --> 00:57:08 | sell side. But I only have a couple minutes to put that tweet together. And everything that I outlined on the live stream in chart form without actually |
| 332 | 00:57:08 --> 00:57:18 | saying anything. sellside is labeled multiple times in the live stream. And the lowest one that I was interested in for the day was 14,000 804. And we went down |
| 333 | 00:57:18 --> 00:57:28 | below that here. And we spent a little bit of time consolidating here, notice that we didn't go back up two rebounds, or reprice any of this inefficiency that |
| 334 | 00:57:28 --> 00:57:38 | cut through the new weak opening gap low. Notice that we didn't even get back up to this fair value gap to allow for it to behave as an inversion fair value gap. |
| 335 | 00:57:38 --> 00:57:47 | So now let's go back and look at some things here. And, Patrick, if you're listening, this is something that you want to be looking at too, because I want |
| 336 | 00:57:47 --> 00:57:55 | to see you holding your trades, you know, with a piece on just leave one one, I know you're trading one more one contract. So when you have that impulse, they |
| 337 | 00:57:55 --> 00:58:04 | want to close it, because you want to have the minds portion of your trade when and you want to bank it, I get it. Lead one, one, because you're talking during |
| 338 | 00:58:04 --> 00:58:10 | your live streams. And you're literally saying you think it's going to go down to the 20s I was agreeing with you. But I'm not going to try to say yes, because |
| 339 | 00:58:10 --> 00:58:19 | it's gonna seem like I'm trying to coax you or coach you in front of your audience, which will be extremely rude. Okay, but I'm telling you that if you |
| 340 | 00:58:19 --> 00:58:29 | were to simply leave one on, who gives a fuck, if you see it, come back and it stops you, you've taken a lion's portion of the trade off in your head, you want |
| 341 | 00:58:29 --> 00:58:37 | your audience to see that you did it and you got out and it removes that I can breathe. Now. I did it for my audience. Again, we're winning. And that's great. |
| 342 | 00:58:37 --> 00:58:50 | And that's admirable, that's great. But if you simply would just hold one contract, leave a car on let it ride the full destination, let it go. You will |
| 343 | 00:58:50 --> 00:59:01 | start seeing that one contract on makes more money than your whole pool of the larger portion of the trade you're closing. Your trade durations will lengthen |
| 344 | 00:59:01 --> 00:59:11 | there'll be longer than they are your halls in your takedowns will be larger in denomination. And it'll help you learn to hold on to these bigger runs, you |
| 345 | 00:59:11 --> 00:59:20 | won't be able to take these 75 to 100 handle runs consistently until you do this stage, this step. And then once you do it for a little while, and I'm not, you |
| 346 | 00:59:20 --> 00:59:27 | know, again, I'm not trying to pretend to be your mentor. But I like watching your live streams and I see opportunities for you to improve and your students |
| 347 | 00:59:27 --> 00:59:35 | that follow you. If they're going to listen to what you're saying, and what you're articulating that your interest is in by default, because they're going |
| 348 | 00:59:35 --> 00:59:42 | to be trying to be Johnny on the spot and follow whatever you're saying and doing. If you're doing this and you're following sound logic, which I believe it |
| 349 | 00:59:42 --> 00:59:52 | is, by the very default of you saying this is what you're interested in. They're going to do the same thing in that in their trading. And by me telling you this |
| 350 | 00:59:52 --> 01:00:00 | and increasing not only your ability to make more money and know what you're looking for in terms of longer term targets and conquering Anything that you |
| 351 | 01:00:00 --> 01:00:10 | have vocally said, You wish you could hold on to these trades and you show emotionally, your disdain for your inability to do it, because you're influenced |
| 352 | 01:00:10 --> 01:00:21 | by the audience. You're trying to give them consistently winning days. And yes, you're able to do that. You're not losing all that many times. And when you do, |
| 353 | 01:00:22 --> 01:00:34 | it is what it is write it off as its attacks. Okay, everybody's gonna pay it. But your hurdles are easily overcome. If you simply just say, Okay, I am feeling |
| 354 | 01:00:34 --> 01:00:44 | right now and do it audibly talk about it's okay, I know that I want to get out of the uncomfortable feeling I'm in right now, I want to take profit, I want to |
| 355 | 01:00:44 --> 01:00:53 | close everything right here. But because I know that this is what I do, and I have seen enough of this and know that I'm never going to get that bigger run |
| 356 | 01:00:53 --> 01:01:04 | that I believe it's going to keep going to, unless I leave something on. So I'm going to start conditioning myself. I'm taking the bulk of everything off this |
| 357 | 01:01:04 --> 01:01:13 | trade right now. And I'm leaving one on and I'm locking in 100 bucks, who gives a shit that that comes back and stops me out, you're going to find that that |
| 358 | 01:01:13 --> 01:01:23 | last portion many times is going to outperform what you took off in the bulk of that first part of the trade. Because the bulk of your trades, from what I can |
| 359 | 01:01:23 --> 01:01:32 | tell by lead reading what you're sharing, that's that's made public, your short comments or your your trade durations are very short. And it's very hard to |
| 360 | 01:01:32 --> 01:01:44 | compress 100 handles or to honor handle runs in a few minutes of time. And the feeling and the impulsive nature of what you're experiencing. And it's not |
| 361 | 01:01:44 --> 01:01:51 | limited to you. Okay, so I hope you're taking this as constructive criticism. And I mean it that way. I'm not trying to be spiteful. I'm not trying to troll |
| 362 | 01:01:51 --> 01:01:57 | you. I'm not trying to be mean, I really want to see you be big. Like I really believe that your character even though it's abrasive. I look at you like a |
| 363 | 01:01:57 --> 01:02:05 | Rowdy Roddy Piper, you know, in wrestling, I love the guy. I love him because he would push everybody's buttons, he would get the audience all worked up in a |
| 364 | 01:02:05 --> 01:02:14 | frenzy. And people love to hate him. But he was a great performer. And as a live streamer, I think you're a great performer, you challenge the crowd to like you, |
| 365 | 01:02:14 --> 01:02:26 | and did not like you. But they still keep coming back. And that's a character strength. For someone that's a showman, you have character. Strength strengths, |
| 366 | 01:02:26 --> 01:02:34 | where a lot of YouTubers are just straight up assholes. And that's the reason why they fail. And there's other people like, like trades by men, generally nice |
| 367 | 01:02:34 --> 01:02:41 | guy, laid back chill, he's not trying to be the best of everything. He's just out there hanging out, being a part of the community, and then doing his thing, |
| 368 | 01:02:42 --> 01:02:51 | not trying to charge your startup, any drama or whatnot. And then you have you where you're literally growing as a trader, and your confidence level is |
| 369 | 01:02:51 --> 01:02:59 | increasing. And for people that have been doing a lot longer than you that there's a little bit more than you, they may not be so forthcoming to tell you |
| 370 | 01:02:59 --> 01:03:06 | this because they think that you're a jerk, or anything that you're ignorant. I just think it's part of your showmanship. And anything you say about me, I've |
| 371 | 01:03:06 --> 01:03:17 | never taken it personal. And I would love very much to see your channel to grow explosively. And if you do some of these things, your viewership will see what |
| 372 | 01:03:17 --> 01:03:24 | you've already shown openly, where you're trying to overcome certain things. And you've been emotional sometimes, which I absolutely love that. Because there's |
| 373 | 01:03:24 --> 01:03:33 | so much bullshit on YouTube, they fake it, vote, man, there's gonna be days if you're trading, not you specifically, but anyone that's trading real money. If |
| 374 | 01:03:33 --> 01:03:41 | you do something, and you know that you did it wrong, and you fucked up and you lost money. And you knew at that moment, you shouldn't do it again, then go back |
| 375 | 01:03:41 --> 01:03:48 | in here, don't do it again, stop, but you do it. You might break down and cry, you might get fucking pissed off, put your fist through a monitor. I've done |
| 376 | 01:03:48 --> 01:03:58 | that over the years, I've done that. The people that pretend that they don't have those breakdowns, that they don't have that measure of frustration. They're |
| 377 | 01:03:58 --> 01:04:06 | lying. They're bullshit artists. And that's one of the things I like most about you and tell you every single time when you pull back the curtain and you say, |
| 378 | 01:04:06 --> 01:04:15 | Okay, this is what I'm dealing with. I'm frustrated because I just wish I could do this. That's exactly what I like about you. That's genuine, that's real. |
| 379 | 01:04:16 --> 01:04:23 | That's the real shit that people on YouTube. That's what they tune into. Because they can relate to that. They're not looking at somebody that's buying a lot of |
| 380 | 01:04:23 --> 01:04:31 | stuff and saying, Wow, I want to be like that, that really they're resonating with you as a real man. That saying, Look, I don't have everything figured out. |
| 381 | 01:04:31 --> 01:04:39 | I don't have all the answers. But I'm out here doing the best I can in front of everybody. By hook or by crook. I'm either gonna win, or I'm gonna lose and I'm |
| 382 | 01:04:39 --> 01:04:49 | my mindset is I'm trying to win. And the things that I see are simple barriers that you just have to just take this step forward and say, You know what? It's |
| 383 | 01:04:49 --> 01:04:56 | not failure if I leave one one, and if it comes back and stops me out, because if you keep doing it that way, what'll happen is you're going to catch a tiger |
| 384 | 01:04:56 --> 01:05:08 | by the tail. And it'll run in Run in run and run and like literally look at, look at the responses in your performance, where you have said openly in your |
| 385 | 01:05:08 --> 01:05:14 | live stream. I think it's gonna get out here, watch, it's gonna go to that level, it's gonna go to that level. And I'm nodding the whole time. I'm like, |
| 386 | 01:05:14 --> 01:05:25 | yes, please just let it, hold it, hold it, don't close it all, leave something on. But I'm being respectful. I'm a part of the audience. I'm not trying to be |
| 387 | 01:05:25 --> 01:05:28 | your teacher, I'm not trying to be a superstar in your live stream. |
| 388 | 01:05:29 --> 01:05:37 | I don't like when other people talk to me when I'm in other people's livestream. It's rude. And I tell my students, don't talk to me in someone else's |
| 389 | 01:05:37 --> 01:05:48 | livestream. It's a dick move. It's very rude to the person I'm in there being an audience member of. It's embarrassing. And I believe it's not really technically |
| 390 | 01:05:48 --> 01:05:56 | my students that are doing it's assholes out there that don't want to build this argument that our community, the ICT brand, are assholes, and were pirates, you |
| 391 | 01:05:56 --> 01:06:06 | know, the Caribbean, we got there and just knew run amok and be stupid. I don't want that in my community. And I'm trying to convey the idea that we can |
| 392 | 01:06:06 --> 01:06:17 | coexist, even though that we trade differently. You can be profitable, we can be profitable, we can have our own ideas about what works best for us. But I see |
| 393 | 01:06:17 --> 01:06:29 | opportunities in you that you aren't going to see the benefit of growing to unless you make certain changes in the changes I want you to understand. Because |
| 394 | 01:06:29 --> 01:06:40 | while you're doing it while you're doing live streams, you get caught up in the audience, which is exactly why I would never allow that chat window. I would |
| 395 | 01:06:40 --> 01:06:47 | never do that. That's why it's not here. Not because I'm fucking scared of anything. Because on Twitter, anybody can talk to me anything. They're tweeting |
| 396 | 01:06:47 --> 01:06:56 | to me all times stupid fucking documentary links and shit. Who gives a fuck what anybody says? I'm not you're proving it, proving it. But they're ignoring that. |
| 397 | 01:06:57 --> 01:07:07 | But you get emotional about what the people saying in chat. And if they bring up my name, you lose your mind about it. I'm not against you. I'm not in your town, |
| 398 | 01:07:07 --> 01:07:17 | a rabble rouser. I'm in here, because I'm watching you improve what you used to do two years ago. Totally different today. Totally different. But you're still |
| 399 | 01:07:17 --> 01:07:26 | bringing your personality into it, which is great. It's great because you are able to resonate with your audience. And for people that are aspiring to be a |
| 400 | 01:07:26 --> 01:07:32 | live streamer, or you're you're wrestling with these types of things, I want you to listen, because it's not just a discussion. I'm trying to have one sided with |
| 401 | 01:07:33 --> 01:07:43 | you, Patrick, I'm trying to convey this idea that many of you are probably doing the same thing. Like you, you feel impulsiveness. To get out of the trade, |
| 402 | 01:07:43 --> 01:07:51 | because you just want to get out of that uncomfortable state of I'm in a winning trade is I'm at a really good profit. If I close right now, nobody can talk |
| 403 | 01:07:51 --> 01:07:58 | shit. And if you're honest, Pat, I'm telling you, that's exactly what you would say, Yeah, that's exactly what it is. Because I want to be winning, I want to |
| 404 | 01:07:58 --> 01:08:09 | stay winning. And if you're making 4000 5000, whatever it is, you know, that's, that's solid numbers in it is. But if you don't ever take a step out and say, |
| 405 | 01:08:09 --> 01:08:21 | Okay, what happens if I say I'm gonna just take 3000 of it, and leave that last contract on and see how far that car can drive? Let it run until it runs out of |
| 406 | 01:08:21 --> 01:08:33 | gas. If you only get stopped out, it's not a failure. It's not a failure in my eyes. To somebody else in the chat. They're going like, oh, you know, you should |
| 407 | 01:08:33 --> 01:08:39 | have known better fuck these people. They're in there, and you're watching your live stream. I know how to fucking trade. I have a larger audience. And I'm |
| 408 | 01:08:39 --> 01:08:47 | watching your live stream. Because I'm actively interested in seeing how you improve. You can tell me hopefully, politely, you know, because I'm not trying |
| 409 | 01:08:47 --> 01:08:57 | to be a dick. If you don't want me to give you any kind of criticisms that are I think, are constructive for any kind of feedback. Just say the word bro. And I |
| 410 | 01:08:57 --> 01:09:07 | will ever been to it again. Edmunds. I won't say anything. I still watch your live streams. I just won't comment ever about you. Again, out of respect for the |
| 411 | 01:09:07 --> 01:09:15 | audience members not having the fuel or an ammunition and try to twist it around and make it look like I'm trying to teach you or you do this or do that. Who |
| 412 | 01:09:15 --> 01:09:25 | gives a fuck? Okay, who cares about all that dumb shit. I want everybody on in everybody to succeed. There even the worst of the worst, they hate me or try to |
| 413 | 01:09:25 --> 01:09:36 | make money off my name. I want them to do well. I'm not a person that wants to see other people fail. I want other people to succeed. But I see the same things |
| 414 | 01:09:36 --> 01:09:46 | happening with my own students where they will say the same things that you're making public. You're showing your frustrations that you knew it's likely to go |
| 415 | 01:09:46 --> 01:09:59 | down there. But you don't do it. And the root causes are you want to deliver the win the solid win of consistently big wins and you want to be able to tell your |
| 416 | 01:09:59 --> 01:10:07 | audience and In other YouTube are saying, Look, dude, I'm doing this, you're not doing it, I'm doing it. Here it is I'm doing another day up winning up winning |
| 417 | 01:10:07 --> 01:10:15 | up winning, and it's happening. And they're respectable amounts of money. That's true, all those things are true. But what that is also doing and you may not |
| 418 | 01:10:15 --> 01:10:26 | realize it and it's causing you frustration, is it's causing your growth to be stagnant. You're not allowing yourself to grow outside of that, because you're |
| 419 | 01:10:26 --> 01:10:33 | putting up these barriers that you're saying, This is my fortress, and no one's getting the fuck in. I can say whatever I want to say. And people can say |
| 420 | 01:10:33 --> 01:10:42 | whatever they want to say. But in reality, they have a lot of influence over you. Because you care enough to let them communicate and chat in your live |
| 421 | 01:10:42 --> 01:10:54 | streams where I wouldn't give a fuck. When I was doing mentorships. I had 865 people my first intake in I don't know call, I don't recall what the the live |
| 422 | 01:10:54 --> 01:11:04 | stream process or application. I don't remember what it was. But every single one of them, were commenting, and asking me a question. Nobody else could see, |
| 423 | 01:11:04 --> 01:11:12 | you know, the frustration I was having to like, What the hell am I going to do here? Like, I can't answer all these people. Like I thought they would be real |
| 424 | 01:11:12 --> 01:11:20 | respectful and say, Okay, I'll ask you. If you understand this, and I was waiting for it, okay, yes, we understand that or no, and then I could just |
| 425 | 01:11:21 --> 01:11:28 | amplify it. But they were losing their fucking minds. They're like, Dude, I asked this question 20 times, and you're ignoring me, I'm not ignoring you. I'm |
| 426 | 01:11:28 --> 01:11:37 | looking at this wall of text going by 100 miles an hour. And I'm sitting in a brick, because I don't know how I'm gonna respond to everybody. And at least |
| 427 | 01:11:37 --> 01:11:47 | give them the impression that I give a fuck because I do. But it's impossible. It's impossible. That number of people. And then because you're an educator, |
| 428 | 01:11:47 --> 01:11:55 | because you're running a community, because you're trying to get out you have a brand. You care you're give a fuck is larger than somebody out there. It's a |
| 429 | 01:11:55 --> 01:12:04 | simulated live stream for the sake of live streaming. So it's, to me I understand perfectly what's going on in your head. I know exactly. You better |
| 430 | 01:12:04 --> 01:12:14 | than you think I know about you. Because I've been right where you're at right now. And your growth is going to be stifled. As long as you keep doing what |
| 431 | 01:12:14 --> 01:12:22 | you're doing. And what you're doing is better than most people out there on YouTube. You're showing up, you're describing what you think's going to happen |
| 432 | 01:12:22 --> 01:12:30 | in the marketplace, and you're putting up numbers. Sometimes you lose, sometimes you blow your accounts, who gives a fuck, that's part of it, you are open, and |
| 433 | 01:12:30 --> 01:12:41 | you're honest about you're trying to find your successful, excellent self as a trader. That's real. That's absolutely real. That's genuine. And that's what |
| 434 | 01:12:41 --> 01:12:51 | more of you YouTubers should be trying to do. People make fun because I've literally cried and wept in discussions about personal things that happened to |
| 435 | 01:12:51 --> 01:12:59 | my wife. I don't look at that as something that's, you know, I'm embarrassed of. And you've done that I've watched you talk about your brother, and you got |
| 436 | 01:12:59 --> 01:13:08 | emotional about that. And that got me emotional watching it. Yeah, that's what makes you real man. That's, that's the thing that people want to plug into that. |
| 437 | 01:13:09 --> 01:13:19 | Not some facade, some fake shit. And I really, really, really want to see you fucking blow up. If you do certain some of these things, I promise you, you're |
| 438 | 01:13:19 --> 01:13:28 | going to see your audience gain more momentum. Because you'll start taking down bigger halls, your confidence level will increase and you'll be far less |
| 439 | 01:13:28 --> 01:13:39 | criticism of yourself. That negative reflections on yourself, you know, a lot, I do that why don't do that. Don't do that. It's not, you're not being less of a |
| 440 | 01:13:39 --> 01:13:51 | warrior. By avoiding doing that, many times men look at this and say, you know, I'm not I don't want to be a pussy. You know, I'm not going to put the fire on |
| 441 | 01:13:51 --> 01:13:58 | myself, I'm going to I'm going to call myself a little bit when I do something wrong. That's the worst thing to do. That's the worst thing to do. Because as |
| 442 | 01:13:58 --> 01:14:07 | much as you want to put out this facade in this aspect, that you don't care what other people say you absolutely do. And that means that you are a caring |
| 443 | 01:14:07 --> 01:14:19 | individual. And so if you're going to act as in the capacity as a trader, teacher, a leader of a community, those attributes are admirable. Never try to |
| 444 | 01:14:19 --> 01:14:27 | call them something that they're not. If you have a weakness, find a way to address it, where you're being constructive about it openly to your community, |
| 445 | 01:14:27 --> 01:14:37 | and also nurturing yourself as the person because no one's going to say anything about you. That's going to cut you deeper than what you're going to do to |
| 446 | 01:14:37 --> 01:14:45 | yourself. I guarantee you if we were talking and we were face to face, you would say yup, you're fucking right. Or you'd be nonsense. Yeah, that's true. |
| 447 | 01:14:46 --> 01:14:54 | Yeah, people can have an influence. They can say something to you, oh, ICT does this better. Or this trader did this before you or this one doesn't use |
| 448 | 01:14:54 --> 01:15:04 | indicators, saying you don't give a fuck about that. But you spend so much time talking about it. in defending it shows the contrary. Who gives a fuck what |
| 449 | 01:15:04 --> 01:15:13 | anybody thinks about what you do? You're doing it. You're showing up every day, most mostly. And then you do it. I think personally instead, what I've been |
| 450 | 01:15:13 --> 01:15:24 | saying all along is once you hit your numbers, once you get your win, done, turn the fucking livestream off. Just kill it, that would be a draw. It'd be like, |
| 451 | 01:15:24 --> 01:15:30 | What the fuck you just showed up, did what he said he was gonna do made money, and then it's it. He's not hanging around talking to anybody. That's not what |
| 452 | 01:15:30 --> 01:15:38 | this is about. You're there to make money. And other people would learn that that's exactly what this is all about. We're not here to hang out. This is not |
| 453 | 01:15:38 --> 01:15:47 | fucking College. We're not hanging out in a fucking frat party. You're here to go out there and kill something. Take it home and fucking eat it. That's what |
| 454 | 01:15:47 --> 01:15:55 | this is all about. You're a carnivore, you're a meat eater. Well, wonderful. Do that in your trading. All this hanging around bullshit, is gossiping and talking |
| 455 | 01:15:55 --> 01:16:05 | about this one. Yeah. Fuck all that. Nobody gives a shit about that. That's the that's the beta male bullshit. The things that make you strong live there. But |
| 456 | 01:16:05 --> 01:16:13 | the things that make you better and excel are simple little changes. And I'm telling you, for somebody that's been doing it for 30 years old, a larger |
| 457 | 01:16:13 --> 01:16:23 | audience, and I watch your live streams. I'm telling you, this is good advice. It's good advice. I grew organically because I do certain things, and I avoid |
| 458 | 01:16:23 --> 01:16:35 | other things. And the experience I have as a teacher, as a trader as an influencer. And as a YouTuber, I'm telling you, if you simply just let one |
| 459 | 01:16:35 --> 01:16:45 | contract run, as soon as you feel that impulse of tug of war, like, Okay, if I let this fucking trade turn into a losing trade, if I get paid off of it, I'm |
| 460 | 01:16:45 --> 01:16:52 | never going to let this down. You know, that's the truth, the people that can't see where you actually got in on a trade and you're managing it the whole time, |
| 461 | 01:16:52 --> 01:17:01 | you see the highest high that trades minute, we don't always see that you see it. And what you're saying in your mind is okay, this is a good number, if I |
| 462 | 01:17:01 --> 01:17:09 | close it here, they're going to respect that they can say that this is this is respectable. And this is better than anybody else that's doing it. And they're |
| 463 | 01:17:09 --> 01:17:19 | all true. But what you're doing is you're trading your equity. And you're not trading a setup, you're not trading for the potential to allow your trades to |
| 464 | 01:17:19 --> 01:17:30 | have a larger run or haul. And the only way you get that is to desensitize yourself by simply saying, Okay, if I have five contracts on or for the sake of |
| 465 | 01:17:30 --> 01:17:38 | argument, you're you're taking the trade and say you're short. If you have five on and as soon as you feel like this is usually about the time when you want to |
| 466 | 01:17:38 --> 01:17:51 | get out. Don't close everything, but one, and explain to everyone, this is what I'm doing. This is why I'm doing it. Because I've been trading better over the |
| 467 | 01:17:51 --> 01:18:03 | last two years than I ever done in the past. And I need to grow and expand my experience and being able to take larger moves. And I'm doing it for this |
| 468 | 01:18:03 --> 01:18:12 | purpose in mind, if I get stopped out on this single runner, I don't care because I've made this much money. And saying openly, what it's going to do is |
| 469 | 01:18:12 --> 01:18:20 | your subconscious is going to lay down and disarm yourself where you feel you got to constantly defend yourself in the chat. You won't need to feel like that |
| 470 | 01:18:20 --> 01:18:29 | way. Because you've solidified that you've taken a lion's portion of that move. You've paid yourself. Now you're leaving a line in the water. Because you don't |
| 471 | 01:18:29 --> 01:18:39 | know that big fish might run and take the bait longer farther than you thought that tree was gonna go. And I've said in your live streams, and I've watched you |
| 472 | 01:18:39 --> 01:18:50 | do this several times every week. And you don't leave something on and I said subtly. I've said it in tweets. And I'm literally saying again today because you |
| 473 | 01:18:50 --> 01:19:03 | had it. You had it today. You were literally calling it but you're taking the full trade off because you want to be able to say I did this, but how many times |
| 474 | 01:19:03 --> 01:19:12 | when we're not seeing you just like all of you that are listening to this conversation. I'm having one sidedness. How many times have you had a trade on |
| 475 | 01:19:12 --> 01:19:20 | where you know that is highly probable it's going to run another 50 handles maybe 100 handles but you just simply can't hold the trade because you're going |
| 476 | 01:19:20 --> 01:19:28 | to lose your fucking mind. Like you know this is a really good profit this is such a good profit right now. I got a good profit if I just close it right here |
| 477 | 01:19:28 --> 01:19:39 | many times you're going to find out that that's the very trades that you hold on to the the best trades are the hardest ones to fucking hold on to. Because you |
| 478 | 01:19:39 --> 01:19:47 | don't have the experience to know how to hold on to them big runners you know that it's likely to get there, but you don't have the experience getting there |
| 479 | 01:19:47 --> 01:19:55 | yet. So because of that uncomfortable state of mind that that tug of war to your thinking shit if this turns around and goes against me as a losing trade or |
| 480 | 01:19:55 --> 01:20:05 | gives up half of this. I'm going to chew myself a new asshole over there. I won't let it go. That's all part of toxic thinking, and why you don't do those |
| 481 | 01:20:05 --> 01:20:17 | things, you have to make an allowance for okay. I feel the impulsive nature to take the trade off right now. But if I'm ever going to have 100 handle run, if |
| 482 | 01:20:17 --> 01:20:27 | I'm ever going to have these 300 handle days which are coming, you won't be a participant in that, or you'll have to be in it, nitpicking it going through and |
| 483 | 01:20:27 --> 01:20:36 | have multiple little entries, and not really having anything to mount for any significance on the total run, you might get 10 handles here, seven handles |
| 484 | 01:20:36 --> 01:20:48 | here, eight handles here. But where's the 300? Where's the lions portion of the 100 point line, you won't have it. But you'll have this small little block where |
| 485 | 01:20:48 --> 01:20:57 | you've had your initial trade on where you put it on. And then you got out because you had a Lions portion of a good winning day that you defined in your |
| 486 | 01:20:57 --> 01:21:05 | brain, in your mind that this is acceptable in the eyes of my viewers. But how many times and how many hours have you looked at on the weekend or overnight |
| 487 | 01:21:05 --> 01:21:11 | before you go to sleep? Me I just would have held on to that I could have fucking shoved that right up at like CTS asked and said here, bitch, here's a |
| 488 | 01:21:11 --> 01:21:23 | 25,000. Now here's a 50,000 hour day you had them, like you had them, but you let them go. But you literally have a tuner on the line. And you just walked |
| 489 | 01:21:23 --> 01:21:29 | over and took wire cutters into snipped on line. So go ahead and run away, I don't I'm not going to bring in you had it, you just didn't bring it in the |
| 490 | 01:21:29 --> 01:21:39 | boat. So as another YouTuber, as someone that genuinely has an interest in seeing you succeed, I would very much like for you to listen to what I said |
| 491 | 01:21:39 --> 01:21:48 | here. And take it to heart because I mean it sincerely. And anyone that's listening, if you've if you found yourself battling something similar to that, I |
| 492 | 01:21:48 --> 01:21:59 | had that same thing. When you see me holding these trades for long durations, and I'm getting big wins. I did not just fall into that. It was a struggle for |
| 493 | 01:21:59 --> 01:22:08 | me to do it. In how I did it is exactly what is outlined here. How I did it was exactly how I outlined in my Twitter spaces. Those are the wrestling matches |
| 494 | 01:22:08 --> 01:22:19 | that no one talks about in books. Those are the things that other trainers and other YouTubers don't know an answer to. Because maybe they do know the answer. |
| 495 | 01:22:19 --> 01:22:26 | But they won't do it just like you're not doing it Pat, you're, you're fighting it, you're resisting, because you think that it's going to be a weakness, if you |
| 496 | 01:22:26 --> 01:22:33 | fail trying to do it. And you just want to have that big win, because you've defined that in your brain and your mind and in your audience that this is what |
| 497 | 01:22:33 --> 01:22:41 | you have to come to be you're a gladiator you go out there and you slice up and you try to wound the next guy, which is the next trait basically, not even on |
| 498 | 01:22:41 --> 01:22:57 | YouTube or whatnot. But that framing or defining of this is success. It can't be anything but what you've limited to, it can never be a 300 point day, it can be |
| 499 | 01:22:57 --> 01:23:07 | a multiple series of winning trades, and maybe a string or two of losing trades getting stopped out. But that day, you'll focus on those losing trades. And why |
| 500 | 01:23:07 --> 01:23:16 | you didn't do it right there. In forget what you did right on the other ones. I went through that stuff too. Everybody's going through that. So when I talk in |
| 501 | 01:23:16 --> 01:23:26 | the Twitter spaces, and when I talk in the lectures part, these are, these are the very wrestling matches that you as a trader are all going to contend with. |
| 502 | 01:23:27 --> 01:23:36 | And I didn't have someone that had more experience than me to talk about like this and get disarm myself and tell myself, Hey, you're thinking about ASP |
| 503 | 01:23:36 --> 01:23:45 | backwards, stop thinking about that way. It's not weakness, it's not weakness to try to graduate into something that's uncomfortable. And the reason why you're |
| 504 | 01:23:45 --> 01:23:53 | fearful of it is because you haven't done it before. It's like anything else. Like I already No fucking way I'd be out there surfing on anything in Hawaii, |
| 505 | 01:23:53 --> 01:24:03 | I'd be expecting some shorter written by so far. That's just the way I'm thinking, right? I'm not gonna get out there and do that. But as a trader, I'm |
| 506 | 01:24:03 --> 01:24:15 | not fearful anything anymore. Because I had desensitized myself through shit that most people would quit one instance of, I was not going to quit, and you |
| 507 | 01:24:15 --> 01:24:20 | have that you have that trait in you. I can see it in you. |
| 508 | 01:24:21 --> 01:24:35 | If you apply certain things that are simply suggestions that are well meant in sincere, your audience will see you do far better, you will improve as a trader, |
| 509 | 01:24:35 --> 01:24:48 | you'll be much better as a educator because you'll be able to do even broader ranges of successful trades. And your trade duration will increase by default. |
| 510 | 01:24:49 --> 01:24:58 | And you'll gain much more confidence, which I'm looking forward to more rowdiness as a result of that. And I think that you're going to be a force to be |
| 511 | 01:24:58 --> 01:25:07 | reckoned with. I think that you have a lot of upside, I think that you have a character that is marketable, I think that people will love watching you more, |
| 512 | 01:25:07 --> 01:25:18 | even if you do, you go off the rails and act around it, I love that part of you. Like, I love that. But more than that, I love the fact that you are genuine, |
| 513 | 01:25:18 --> 01:25:25 | when there's times where that does shine through. And I think sometimes you don't feel comfortable doing that. And I'm telling you as someone that's a real |
| 514 | 01:25:25 --> 01:25:36 | human being, that many times I've shown my own emotions, and I'm not ashamed for any of that. Because it's something that is real. And someone that is actively |
| 515 | 01:25:36 --> 01:25:44 | trying to learn how to do this. Many times we listen to people that have no fucking idea what they're doing, they don't make money, they're pretending. And |
| 516 | 01:25:44 --> 01:25:54 | they do other things. And I've been very vocal. I've been very honest. Because I've had so many people come to me and try to learn, I've made so much more |
| 517 | 01:25:54 --> 01:26:05 | money from them paying me to teach them how to trade than I ever did trading. They don't know why people are having a hard time with that. For a large portion |
| 518 | 01:26:05 --> 01:26:15 | of my life, I had to hide my own finances. You don't have to have that information, I didn't have to divulge that stuff. But I want you to understand |
| 519 | 01:26:15 --> 01:26:23 | who I am as a person, and what makes me think and the struggles I had to go through. And when you share that part, and you don't have to, I'm not trying to |
| 520 | 01:26:23 --> 01:26:33 | encourage you to do more of it or other people to do it either. But I think that that's a wonderful thing. I don't think it's fake, I don't think it's an |
| 521 | 01:26:33 --> 01:26:41 | unnecessary thing. And other people would say it's not talking about that stuff. Nurses talk about trading, fuck these people, those people won't amount to shit |
| 522 | 01:26:41 --> 01:26:51 | as a trader, because they're only focusing on one thing, money. And that right there causes their failure. You as an individual, as a human being as a trader, |
| 523 | 01:26:51 --> 01:27:00 | you're gonna bring all kinds of stuff, failed relationships, things that you try to do as a relationship that didn't pan out jobs, if you have to have one until |
| 524 | 01:27:00 --> 01:27:09 | you become successful, you may lose it, you may not have the pay increase that you were hoping you're gonna get, your car might break down, you might get sick, |
| 525 | 01:27:09 --> 01:27:19 | you might get hurt, you might have an injury, and now that plagues you, all those things are real, all that stuff is real factors in trading. And I'm |
| 526 | 01:27:19 --> 01:27:29 | actively interested in seeing how far you go. I'm watched Matt the same way. The guy does trade my mat YouTube channel, I wish he would stop trying to trade the |
| 527 | 01:27:29 --> 01:27:38 | shit that he's doing. Because he's not seeing the consistency that I would have been staying with. Like I literally would have quit, I would have quit. But I |
| 528 | 01:27:38 --> 01:27:50 | get it. You know, he's he's trying to find themselves. Everybody's trying to find themselves. But anyway, I want to know, the long winded rant off topic, but |
| 529 | 01:27:50 --> 01:27:57 | I felt that that was the right time to do it. So there's that. But the sell side here, I identified on the tweet, you know, we got we actually saw a trade into |
| 530 | 01:27:57 --> 01:28:05 | that, and then it consolidated. The fact that it didn't trade back up in this imbalance is a very strong signature for weakness, because it pierced and went |
| 531 | 01:28:05 --> 01:28:15 | below the new weak opening gap low that separation from where we were above it. And here, that would be one of those instances like if I didn't have that on my |
| 532 | 01:28:15 --> 01:28:22 | chart, and I did this many times before in old recordings of me trading, where I'd say I want to see this portion stay open. In this case, the reason why I |
| 533 | 01:28:22 --> 01:28:30 | would want to see that statement is because it traded below the new week opening gap low, which is a significant level, we would want to see it leave if the |
| 534 | 01:28:30 --> 01:28:41 | weekly ranges want to expand to the downside. And it's a significant level for that weekly range, not just an intraday chart, or intraday timeframe. So you can |
| 535 | 01:28:41 --> 01:28:48 | see all this consolidation in here. And then finally it breaks down. We have a small little fair value gap in here, which it trades up into this institutional |
| 536 | 01:28:48 --> 01:28:58 | order flow entry drill, you can see the candlesticks high here 14,008 57 and a quarter and the very next candle, we trade up to one, one tick above it. So once |
| 537 | 01:28:58 --> 01:29:06 | it's 50 low, that's institutional or for entry drill, it breaks lower, it was a fair value gap in here. And at waterblock. We trade up into that. And then we |
| 538 | 01:29:06 --> 01:29:14 | displace even further trading down into that 40,084, which was at the time of the recording this morning in the live stream. I said that would be my objective |
| 539 | 01:29:14 --> 01:29:23 | for the day. If it were to trade into the seven hundreds, it would be without me being a part of it. And faltering you can see, we ended up going lower, we went |
| 540 | 01:29:23 --> 01:29:35 | back up and hit the 804 level fair value gap comes back and hits it again there. displaces and then consolidates in this area here going into the lunch hour, |
| 541 | 01:29:35 --> 01:29:45 | where we see the retracement back up and starts running on the trail by side liquidity. And there's that and now we are sitting here just marking time like |
| 542 | 01:29:45 --> 01:29:54 | we usually do at this time of day. Non Farm Payroll. I don't like to go into it with a preconceived idea what I think it's going to do, because I don't know. |
| 543 | 01:29:55 --> 01:30:03 | You're not going to know you're not going to have a consistent approach to knowing what Non Farm Payroll is going to do. because it's fuckery, it is a |
| 544 | 01:30:03 --> 01:30:10 | circus act, it is exactly when they're going to manipulate price. And I'm of the opinion, if I sat out there and tried to trade it every single time Non Farm |
| 545 | 01:30:10 --> 01:30:19 | Payroll came out, they would move the market against me because I have a lot of people that would follow whatever I said. And they would make me look like what |
| 546 | 01:30:19 --> 01:30:28 | I'm teaching won't work at the time when it's the highest probability of them manipulating price. So I don't open that invitation for them. That's why I don't |
| 547 | 01:30:28 --> 01:30:36 | do it. That's another reason why I don't talk openly about what I think the market will do on the Thursday and the Friday of nonfarm payroll week, because I |
| 548 | 01:30:36 --> 01:30:47 | know the chances of me being wrong are higher than me in any other time. So, anyway, I've said a lot here probably overstep my boundaries and hope you |
| 549 | 01:30:47 --> 01:30:59 | understand that what I covered today wasn't meant to be disrespectful. It was meant in light of NO ONE MAN seeing another man's opportunity to increase and |
| 550 | 01:30:59 --> 01:31:07 | improve and hope hopefully it was received that way. And until I talk to you next time, you safe |