ICT YT - 2024-06-11 - NQ Lunch Macro
Last modified by Drunk Monkey on 2024-08-07 10:37
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Outline
00:01 - Price action trading with volume and balance analysis.
- Trader identifies levels for entry based on volume and price action.
- Trader seeks to identify small inversion for potential trading opportunity.
- ICT identifies potential trading opportunities using volume and balance analysis.
- Trader seeks to trade off highs and lows in a range, focusing on consequent encroachment.
Transcription
| 1 | 00:00:01,140 --> 00:00:07,500 | The NASDAQ here. So I'm going to, kind of like show you how I can read price |
| 2 | 00:00:07,500 --> 00:00:21,200 | action real time. And everything you guys ask for is real time. You can see |
| 3 | 00:00:21,200 --> 00:00:28,700 | the candlestick countdown, the price axis. See the volume imbalance, right |
| 4 | 00:00:28,700 --> 00:00:34,700 | here. Gonna look at that for short, I'm |
| 5 | 00:00:40,000 --> 00:00:46,840 | I was busy drawing it drave it up into it. Hopefully, I'll give you one more |
| 6 | 00:00:46,840 --> 00:00:48,700 | little kiss before it runs away. |
| 7 | 00:00:54,940 --> 00:01:00,360 | If it gives me half this wick here, I'll go with six on that as well. |
| 8 | 00:01:07,980 --> 00:01:09,540 | Real fast on 15 seconds. |
| 9 | 00:01:15,180 --> 00:01:23,960 | Take that, and we're going to use open on this candle here, and I'll look to |
| 10 | 00:01:24,080 --> 00:01:34,520 | add four more. If you look right over here, I like this inefficiency, so I'm |
| 11 | 00:01:34,520 --> 00:01:44,200 | gonna I like that. And I'm clone |
| 12 | 00:01:49,720 --> 00:01:57,820 | that. So these are the levels I'm looking for. All of this is permissible, |
| 13 | 00:01:57,820 --> 00:02:02,280 | price action trading up into this cell center balance by side and efficiency. |
| 14 | 00:02:03,240 --> 00:02:07,260 | There's where the bodies are stopping the volume and bounce where I pointed to |
| 15 | 00:02:07,560 --> 00:02:14,040 | before the fact. But this is where the price can reach up into. So for clarity |
| 16 | 00:02:14,040 --> 00:02:19,620 | sake, I want to enter here, because it may not go all the way up into this area |
| 17 | 00:02:19,620 --> 00:02:25,040 | right here, but because I want to be in and be assured that I have a position on |
| 18 | 00:02:25,040 --> 00:02:33,860 | I'm using the volume and bounce as my entry point. And you can see how volume |
| 19 | 00:02:33,860 --> 00:02:40,900 | and bounce is encapsulated price action in its bodies. Okay, great. In here is a |
| 20 | 00:02:41,320 --> 00:02:46,120 | inversion fair value gap, and that's very small. You can see it trading up |
| 21 | 00:02:46,120 --> 00:02:53,920 | into that, and we'll see price. Want to reach down. We want to place that here. |
| 22 | 00:02:57,460 --> 00:03:08,160 | Let's actually do just above consequent encroachment of that inefficiency. So we |
| 23 | 00:03:08,160 --> 00:03:14,340 | look at this, yep, this has one tick above that little red line in here. |
| 24 | 00:03:14,460 --> 00:03:20,720 | These are the upper quadrant, lower quadrant. So take this off. |
| 25 | 00:03:32,060 --> 00:03:39,260 | And what I'm doing is I'm watching on the five minute want to see price erode |
| 26 | 00:03:39,740 --> 00:03:45,340 | down at least beyond and below the halfway point or consequent encroachment |
| 27 | 00:03:45,340 --> 00:03:53,800 | of this discount wick. I want to see price go below this low, aggressively, |
| 28 | 00:03:56,500 --> 00:04:01,260 | with no respect of that low large. I want to see this slice right through it |
| 29 | 00:04:01,560 --> 00:04:07,260 | and speed up to get inside this area down here, which is this particular last |
| 30 | 00:04:08,400 --> 00:04:16,380 | item, balance outside of efficiency. One more attempt to get into this inversion |
| 31 | 00:04:16,380 --> 00:04:17,040 | for where you go. I'm |
| 32 | 00:04:24,380 --> 00:04:32,540 | I'll draw it out so we can see it. As you can see, it's very, very, very, very |
| 33 | 00:04:32,540 --> 00:04:39,260 | small, but that's all you need. You don't need depth of market. Dom, it's |
| 34 | 00:04:39,260 --> 00:04:43,300 | not auction theory. I'm seeing so many people sharing videos with goobers on |
| 35 | 00:04:43,300 --> 00:04:51,100 | YouTube, thinking that they found the Grail ICTs rebranding. Auction theory |
| 36 | 00:04:52,120 --> 00:04:57,340 | has nothing to do with auction theory, but I understand you you have to have |
| 37 | 00:04:57,340 --> 00:05:01,980 | something to explain away. But. If that's what it is, you'll have the same |
| 38 | 00:05:01,980 --> 00:05:06,180 | results that I have and be able to trade the same way I'm trading if it's |
| 39 | 00:05:06,180 --> 00:05:12,660 | something that's known, right? So we want to see it trade down into this |
| 40 | 00:05:12,660 --> 00:05:16,560 | small, little volume of balance, this volume of balance. I want to see it |
| 41 | 00:05:16,560 --> 00:05:20,160 | reach through both of those and aggressively make a run below that low |
| 42 | 00:05:20,160 --> 00:05:28,340 | here. That's exactly what I want to see, compare some of this open risk now, |
| 43 | 00:05:28,400 --> 00:05:36,740 | very, very small. In fact, I'm going to take that stock place. It just above the |
| 44 | 00:05:36,740 --> 00:05:40,720 | opening on that candle, because we went above the volume and balance. I'm sorry, |
| 45 | 00:05:40,720 --> 00:05:45,820 | the inversion fair value got there and it quickly rejected that note that. So |
| 46 | 00:05:45,820 --> 00:05:52,540 | we're gonna put the stop loss right there, and we will see what we see, |
| 47 | 00:05:53,740 --> 00:05:55,060 | volume and balance in here. I'm |
| 48 | 00:06:10,860 --> 00:06:16,860 | so we've gone into this one. We've traded into this one again. These are |
| 49 | 00:06:16,860 --> 00:06:29,600 | volume impalances. These are the weakest PD array. And I say that with the focus |
| 50 | 00:06:29,720 --> 00:06:38,840 | on it being a PD array that is the most flexible, where price can go beyond it |
| 51 | 00:06:38,840 --> 00:06:46,420 | and come back and reuse it. And it helps me get a read on price. Sometimes volume |
| 52 | 00:06:46,420 --> 00:06:52,540 | imbalances are dead locked right to a turning point, and I can use that as a |
| 53 | 00:06:52,540 --> 00:07:00,100 | target or partial or an entry. It just how I see the market at the moment, and |
| 54 | 00:07:00,100 --> 00:07:05,940 | I try to utilize the narrative that I think is under way in price action, |
| 55 | 00:07:05,940 --> 00:07:09,540 | where I think that we're going to try to reprice down here with spin, pretty much |
| 56 | 00:07:09,540 --> 00:07:15,240 | a pump all day today, and there's liquidity under that low. That's another |
| 57 | 00:07:15,240 --> 00:07:18,960 | reason why I want to be right at that consequent encouragement, because this |
| 58 | 00:07:18,960 --> 00:07:22,820 | buy side, balance, outside efficiency, has that little wick in here, and we're |
| 59 | 00:07:22,820 --> 00:07:31,160 | seeing all of that come true here. So random. I say that facetiously, |
| 60 | 00:07:31,160 --> 00:07:35,600 | obviously, but this is supposed to be auction thing, according to the guys on |
| 61 | 00:07:35,600 --> 00:07:44,260 | YouTube. You guys, you're gonna eventually get tired of trying to find |
| 62 | 00:07:44,260 --> 00:07:49,300 | something that I supposedly rebranded, but I didn't rebrand anything. This is |
| 63 | 00:07:49,300 --> 00:07:55,180 | all original. And if it's something that's being rebranded by isn't someone |
| 64 | 00:07:55,180 --> 00:07:59,920 | else out there making videos recording themselves, executing on the other stuff |
| 65 | 00:07:59,920 --> 00:08:03,120 | that's supposed to be rebranded, why don't they just keep using the old |
| 66 | 00:08:03,480 --> 00:08:08,100 | content that I supposedly rebranded by someone else, instead of using my my |
| 67 | 00:08:08,100 --> 00:08:15,600 | terminology? That's fun. I just realized I don't have the executions on I |
| 68 | 00:08:15,600 --> 00:08:27,680 | apologize for that. Daily up here. And we want to see it drop down into here |
| 69 | 00:08:28,640 --> 00:08:36,140 | and dig into that low rate there, right there. Okay, so I don't need this full |
| 70 | 00:08:36,320 --> 00:08:41,080 | inefficiency between this candle is high and that candles low. I don't need that |
| 71 | 00:08:41,080 --> 00:08:47,560 | entire range repriced to but I am seeking consequent encroachment midpoint |
| 72 | 00:08:47,560 --> 00:08:51,160 | trade down in there. Now we have a smaller volume balance to see that and |
| 73 | 00:08:51,160 --> 00:08:54,640 | all these wicks. So whenever I have something like that, I can look at the |
| 74 | 00:08:54,700 --> 00:08:59,980 | middle of the wick, which is consequent encroachment. That could be the extreme |
| 75 | 00:08:59,980 --> 00:09:04,020 | high, because I don't want to see this high taken out. You can trade up there |
| 76 | 00:09:04,020 --> 00:09:06,420 | and then reject and go down into this area down here. |
| 77 | 00:09:22,920 --> 00:09:26,840 | I I want to see it get real heavy in here. I'm |
| 78 | 00:09:37,820 --> 00:09:46,480 | going to look for a best case scenario filling there, but I'm going to take off |
| 79 | 00:09:47,920 --> 00:09:55,660 | six if we print below 62 so I'm going to finesse the exit. I'm. |
| 80 | 00:10:00,780 --> 00:10:12,120 | If you look at this right here, that wick turned right there and retreated |
| 81 | 00:10:12,120 --> 00:10:16,860 | down into that area. So it's the high that, which is fine, that's good, but |
| 82 | 00:10:16,860 --> 00:10:29,720 | I'm not interested in taking any partial until we get down to below 62 almost |
| 83 | 00:10:29,720 --> 00:10:30,020 | there I'm |
| 84 | 00:10:44,440 --> 00:10:50,380 | let's put a buy limit there that we can get a price that's favorable. There we |
| 85 | 00:10:50,380 --> 00:10:59,860 | go. It's almost like it's magic, all right. So we'll see if we can get any |
| 86 | 00:10:59,860 --> 00:11:04,320 | more juice out of this lemon. You see how we swept that low right there. Now |
| 87 | 00:11:04,320 --> 00:11:10,320 | I'm going to drop a line right on this little low. You can see how we reached |
| 88 | 00:11:10,320 --> 00:11:11,520 | for it on that |
| 89 | 00:11:18,180 --> 00:11:23,660 | level right here. See how we're reaching below that. There. Everything outlined |
| 90 | 00:11:23,660 --> 00:11:28,040 | and look at that. Oh, my goodness. I should probably start a YouTube channel |
| 91 | 00:11:28,100 --> 00:11:33,140 | and teach these things until next time be safe. Do. |