ICT YT - 2024-05-06 - Micro-Scalping Without Bias - NQ
Last modified by Drunk Monkey on 2024-08-07 10:37
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Outline
00:00 - Trading NASDAQ with intraday scalping strategies.
- Trader discusses potential trade opportunities in the NASDAQ using technical analysis.
- ICT identifies a potential trading opportunity in a gap between fair value and the current market price.
- Trader identifies potential sell opportunities in a rotating lower tagging pattern.
- Trader discusses using partial fills and liquidity in intraday trading.
Transcription
| 1 | 00:00:00,000 --> 00:00:05,910 | Hello folks we're looking at the NASDAQ here |
| 2 | 00:00:18,990 --> 00:00:32,700 | if we look at the minute chart here so we have a little bit of a premium |
| 3 | 00:00:33,240 --> 00:00:41,400 | relative to her previous day's settlement are inside this little |
| 4 | 00:00:41,400 --> 00:00:45,540 | Pharaoh you got here if we can go a little bit higher from where we are |
| 5 | 00:00:49,440 --> 00:01:05,160 | gonna go beneath this damn close candle with our stop loss and we'll maximize |
| 6 | 00:01:10,560 --> 00:01:16,710 | of ease she can your ears alright so now we're going to add more reading side |
| 7 | 00:01:16,710 --> 00:01:17,820 | this volume imbalance here |
| 8 | 00:01:29,280 --> 00:01:34,680 | and see that here and the draw is right here so this is micro scalping This is |
| 9 | 00:01:34,680 --> 00:01:43,380 | whip on that account companies don't want you don't get in here making money |
| 10 | 00:01:43,560 --> 00:01:55,020 | it's unprofitable for us oh the old troublemakers back at it again all right |
| 11 | 00:01:55,020 --> 00:01:58,680 | you see the tank was candle right there and the volume and bounce in this volume |
| 12 | 00:01:58,680 --> 00:02:03,540 | it bounced there's a reason enough for those things that draw price back down |
| 13 | 00:02:03,540 --> 00:02:10,860 | inside this order block so we'll note that one any events because back there |
| 14 | 00:02:10,890 --> 00:02:17,970 | we'll say hypothetically you would add one more but I'm at maximum four months |
| 15 | 00:02:20,400 --> 00:02:35,790 | trade here if I get there always include the volume of balances and for bread |
| 16 | 00:02:35,790 --> 00:02:40,740 | butter purposes I'm sorry |
| 17 | 00:02:46,830 --> 00:02:48,690 | the buy side arresting just about that |
| 18 | 00:02:58,050 --> 00:03:08,520 | close to the real close to the target this stop should be covering costs and |
| 19 | 00:03:08,520 --> 00:03:18,270 | boom just like that pretty fun pretty pretty fun alright so we have a volume |
| 20 | 00:03:18,270 --> 00:03:21,870 | of bouncing very traded back into that a couple times I'm going to actually put a |
| 21 | 00:03:21,870 --> 00:03:29,820 | limit order in there and see if I can capture another run |
| 22 | 00:03:36,270 --> 00:03:38,400 | and we will target the |
| 23 | 00:03:45,750 --> 00:03:48,270 | daily for Vega here |
| 24 | 00:03:55,980 --> 00:04:03,720 | should pop up in here and grab it oh you see that it gave me the Limit price but |
| 25 | 00:04:03,720 --> 00:04:10,050 | didn't give me the spread to get it filled so it's a little bit more gone |
| 26 | 00:04:10,050 --> 00:04:17,220 | Virginia There you go. So now we have the market reaching up into this fair |
| 27 | 00:04:17,220 --> 00:04:25,440 | value gap where we can add more so that's this right here not that |
| 28 | 00:04:31,350 --> 00:04:47,700 | okay, and that was labeled as it is a ICT bearish affair Vega just so much fun |
| 29 | 00:04:47,700 --> 00:04:54,720 | seeing it just hanging out like it's designed to do. It's also seen how the |
| 30 | 00:04:54,720 --> 00:04:59,430 | Otterbox that we mentioned over here, how that becomes an inversion level |
| 31 | 00:04:59,430 --> 00:05:09,690 | right there you See that clever ICT clever? I know I'm so we can now change |
| 32 | 00:05:09,690 --> 00:05:12,540 | this to top, right |
| 33 | 00:05:26,010 --> 00:05:31,020 | and then we're gonna make that small is like that, elongate this, get this out |
| 34 | 00:05:31,020 --> 00:05:40,380 | of the way, drag this out over here and cover that cover, that makes sense. |
| 35 | 00:05:43,590 --> 00:05:55,020 | They're in the front seat better. Drag this back over here. Now there's |
| 36 | 00:05:55,020 --> 00:05:59,700 | liquidity here, there's inefficiency in this, and there's a lot of order flow |
| 37 | 00:06:00,060 --> 00:06:03,480 | that worked around here, main thing is that order flow did not come back and |
| 38 | 00:06:03,480 --> 00:06:10,590 | touch the daily fair value got high. So that's the reason why I'm drawing my |
| 39 | 00:06:10,590 --> 00:06:13,710 | limit work just below the bottom of these candles, because it may not even |
| 40 | 00:06:13,710 --> 00:06:18,120 | touch the daily core value of high again, see the volume of balance in |
| 41 | 00:06:18,120 --> 00:06:22,170 | here. Trading now right there |
| 42 | 00:06:33,870 --> 00:06:44,280 | and we'll make that smaller. So hitting a rotating lower tagging these very |
| 43 | 00:06:44,280 --> 00:06:56,040 | short term sell sonically post volume imbalances. Or flexible PV arrays, okay? |
| 44 | 00:06:56,430 --> 00:07:00,270 | So they can go back and forth over top of them and still keep the underlying |
| 45 | 00:07:00,270 --> 00:07:06,450 | narrative active, meaning that don't expect them to turn on a dime, always, |
| 46 | 00:07:06,840 --> 00:07:14,040 | you want to judge see where where the order flow is in and around them. And |
| 47 | 00:07:14,070 --> 00:07:18,990 | many times it can cause the market to turn. But we have to be a little bit |
| 48 | 00:07:18,990 --> 00:07:23,100 | more flexible with these. Okay, so what we're gonna do is we're gonna take |
| 49 | 00:07:29,310 --> 00:07:34,470 | five off just below here and right inside this inefficiency, so between |
| 50 | 00:07:34,470 --> 00:07:42,540 | these candles high candles low, there's reason to take profit, we have to reduce |
| 51 | 00:07:42,540 --> 00:07:50,550 | our risk or costs. Okay. commission costs are around $10 Less with fees and |
| 52 | 00:07:50,550 --> 00:07:55,350 | everything else per contract. So it comes to the first partial criminal a |
| 53 | 00:07:58,050 --> 00:08:05,970 | little bit more virgin. You are so good to me, though. You're so good. Oh, my |
| 54 | 00:08:05,970 --> 00:08:09,510 | goodness, what is buying and selling, buying and selling, it must be that |
| 55 | 00:08:09,510 --> 00:08:13,380 | buying and selling pressure they keep talking about I'm not sure the verdicts |
| 56 | 00:08:13,380 --> 00:08:21,690 | still out waiting, waiting to be confirmed. And again, this is a 15 |
| 57 | 00:08:21,690 --> 00:08:28,380 | second chart, by the way, folks, in case you were wondering. And we'll pack up |
| 58 | 00:08:28,380 --> 00:08:37,020 | inside of this inefficiency. And at this point, it could stop me out with the |
| 59 | 00:08:38,130 --> 00:08:45,360 | cost covered. But it's been very fun working within these tiny little ranges |
| 60 | 00:08:45,360 --> 00:08:56,640 | here showing you that you can carve out yourself a little income went to |
| 61 | 00:08:56,640 --> 00:09:01,290 | competitions. You know, you could do all kinds of stuff when you had the |
| 62 | 00:09:01,290 --> 00:09:04,860 | understanding of how to read price action. Not see what's created here. |
| 63 | 00:09:04,860 --> 00:09:09,000 | This is a little bit problematic or my stop also has a high and other high so |
| 64 | 00:09:09,000 --> 00:09:13,350 | it can jump up your head that and it's fine, but that's completely okay. This |
| 65 | 00:09:13,350 --> 00:09:17,580 | is the reason why we take partials. Now if you are going to be hard and fast and |
| 66 | 00:09:17,580 --> 00:09:21,870 | you want to be a surgical hit and run types in scalper, you don't take any |
| 67 | 00:09:21,870 --> 00:09:26,460 | partials, you just take the first logical level of liquidity, bang, you're |
| 68 | 00:09:26,460 --> 00:09:33,480 | out it's over. Then you wait for the next setup. Here I just want to see if |
| 69 | 00:09:33,480 --> 00:09:38,700 | we have a little bit of juice in this lemon to get us down into another |
| 70 | 00:09:38,700 --> 00:09:41,760 | attempt to get that deal if you're right you got that's what this little blue |
| 71 | 00:09:41,760 --> 00:09:43,080 | shaded areas down here. |
| 72 | 00:09:54,420 --> 00:09:55,440 | This way |
| 73 | 00:10:02,159 --> 00:10:07,649 | So you can trade without a bias, you can trade the liquidity that's available |
| 74 | 00:10:07,649 --> 00:10:12,299 | intraday. And you can drop down into a very small timeframe and work with a |
| 75 | 00:10:12,299 --> 00:10:20,279 | very small range and do very, very well. But if you lose your mind, and or lose |
| 76 | 00:10:20,279 --> 00:10:25,649 | the plot, which is trying to make money, getting in logical levels, expecting a |
| 77 | 00:10:25,649 --> 00:10:30,539 | logical draw on liquidity, it should make sense why it should do it in the |
| 78 | 00:10:30,539 --> 00:10:37,499 | grand scheme of things. So, that's going to come with experience, obviously. But |
| 79 | 00:10:37,499 --> 00:10:43,019 | other things that teach on this YouTube channel, the inner circle trader, all |
| 80 | 00:10:43,019 --> 00:10:46,379 | for free, you just have to do the work and it takes a little bit of time, |
| 81 | 00:10:46,769 --> 00:10:52,499 | effort and energy to work towards it. You can carve out some pretty consistent |
| 82 | 00:10:54,479 --> 00:11:01,619 | models. Here's the stock and that's fine, that's fine. But buying in here, |
| 83 | 00:11:03,059 --> 00:11:09,209 | running the buy side there, then go back in selling short and getting the |
| 84 | 00:11:09,209 --> 00:11:10,019 | liquidity under here. |