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Last modified by Drunk Monkey on 2024-08-07 10:37
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5 == Outline ==
6
7 ##00:01 -## Price action trading with volume and balance analysis.
8
9 - Trader identifies levels for entry based on volume and price action.
10 - Trader seeks to identify small inversion for potential trading opportunity.
11 - ICT identifies potential trading opportunities using volume and balance analysis.
12 - Trader seeks to trade off highs and lows in a range, focusing on consequent encroachment.
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14 == Transcription ==
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16 (% class="hover min" %)
17 |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
18 |2 |00:00:07,500 ~-~-> 00:00:21,200 |action real time. And everything you guys ask for is real time. You can see
19 |3 |00:00:21,200 ~-~-> 00:00:28,700 |the candlestick countdown, the price axis. See the volume imbalance, right
20 |4 |00:00:28,700 ~-~-> 00:00:34,700 |here. Gonna look at that for short, I'm
21 |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
22 |6 |00:00:46,840 ~-~-> 00:00:48,700 |little kiss before it runs away.
23 |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.
24 |8 |00:01:07,980 ~-~-> 00:01:09,540 |Real fast on 15 seconds.
25 |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
26 |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
27 |11 |00:01:34,520 ~-~-> 00:01:44,200 |gonna I like that. And I'm clone
28 |12 |00:01:49,720 ~-~-> 00:01:57,820 |that. So these are the levels I'm looking for. All of this is permissible,
29 |13 |00:01:57,820 ~-~-> 00:02:02,280 |price action trading up into this cell center balance by side and efficiency.
30 |14 |00:02:03,240 ~-~-> 00:02:07,260 |There's where the bodies are stopping the volume and bounce where I pointed to
31 |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
32 |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
33 |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
34 |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
35 |19 |00:02:33,860 ~-~-> 00:02:40,900 |and bounce is encapsulated price action in its bodies. Okay, great. In here is a
36 |20 |00:02:41,320 ~-~-> 00:02:46,120 |inversion fair value gap, and that's very small. You can see it trading up
37 |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.
38 |22 |00:02:57,460 ~-~-> 00:03:08,160 |Let's actually do just above consequent encroachment of that inefficiency. So we
39 |23 |00:03:08,160 ~-~-> 00:03:14,340 |look at this, yep, this has one tick above that little red line in here.
40 |24 |00:03:14,460 ~-~-> 00:03:20,720 |These are the upper quadrant, lower quadrant. So take this off.
41 |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
42 |26 |00:03:39,740 ~-~-> 00:03:45,340 |down at least beyond and below the halfway point or consequent encroachment
43 |27 |00:03:45,340 ~-~-> 00:03:53,800 |of this discount wick. I want to see price go below this low, aggressively,
44 |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
45 |29 |00:04:01,560 ~-~-> 00:04:07,260 |and speed up to get inside this area down here, which is this particular last
46 |30 |00:04:08,400 ~-~-> 00:04:16,380 |item, balance outside of efficiency. One more attempt to get into this inversion
47 |31 |00:04:16,380 ~-~-> 00:04:17,040 |for where you go. I'm
48 |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
49 |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
50 |34 |00:04:39,260 ~-~-> 00:04:43,300 |not auction theory. I'm seeing so many people sharing videos with goobers on
51 |35 |00:04:43,300 ~-~-> 00:04:51,100 |YouTube, thinking that they found the Grail ICTs rebranding. Auction theory
52 |36 |00:04:52,120 ~-~-> 00:04:57,340 |has nothing to do with auction theory, but I understand you you have to have
53 |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
54 |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
55 |39 |00:05:06,180 ~-~-> 00:05:12,660 |something that's known, right? So we want to see it trade down into this
56 |40 |00:05:12,660 ~-~-> 00:05:16,560 |small, little volume of balance, this volume of balance. I want to see it
57 |41 |00:05:16,560 ~-~-> 00:05:20,160 |reach through both of those and aggressively make a run below that low
58 |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,
59 |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
60 |44 |00:05:36,740 ~-~-> 00:05:40,720 |opening on that candle, because we went above the volume and balance. I'm sorry,
61 |45 |00:05:40,720 ~-~-> 00:05:45,820 |the inversion fair value got there and it quickly rejected that note that. So
62 |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,
63 |47 |00:05:53,740 ~-~-> 00:05:55,060 |volume and balance in here. I'm
64 |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
65 |49 |00:06:16,860 ~-~-> 00:06:29,600 |volume impalances. These are the weakest PD array. And I say that with the focus
66 |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
67 |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
68 |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
69 |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
70 |54 |00:07:00,100 ~-~-> 00:07:05,940 |I try to utilize the narrative that I think is under way in price action,
71 |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
72 |56 |00:07:09,540 ~-~-> 00:07:15,240 |a pump all day today, and there's liquidity under that low. That's another
73 |57 |00:07:15,240 ~-~-> 00:07:18,960 |reason why I want to be right at that consequent encouragement, because this
74 |58 |00:07:18,960 ~-~-> 00:07:22,820 |buy side, balance, outside efficiency, has that little wick in here, and we're
75 |59 |00:07:22,820 ~-~-> 00:07:31,160 |seeing all of that come true here. So random. I say that facetiously,
76 |60 |00:07:31,160 ~-~-> 00:07:35,600 |obviously, but this is supposed to be auction thing, according to the guys on
77 |61 |00:07:35,600 ~-~-> 00:07:44,260 |YouTube. You guys, you're gonna eventually get tired of trying to find
78 |62 |00:07:44,260 ~-~-> 00:07:49,300 |something that I supposedly rebranded, but I didn't rebrand anything. This is
79 |63 |00:07:49,300 ~-~-> 00:07:55,180 |all original. And if it's something that's being rebranded by isn't someone
80 |64 |00:07:55,180 ~-~-> 00:07:59,920 |else out there making videos recording themselves, executing on the other stuff
81 |65 |00:07:59,920 ~-~-> 00:08:03,120 |that's supposed to be rebranded, why don't they just keep using the old
82 |66 |00:08:03,480 ~-~-> 00:08:08,100 |content that I supposedly rebranded by someone else, instead of using my my
83 |67 |00:08:08,100 ~-~-> 00:08:15,600 |terminology? That's fun. I just realized I don't have the executions on I
84 |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
85 |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
86 |70 |00:08:36,320 ~-~-> 00:08:41,080 |inefficiency between this candle is high and that candles low. I don't need that
87 |71 |00:08:41,080 ~-~-> 00:08:47,560 |entire range repriced to but I am seeking consequent encroachment midpoint
88 |72 |00:08:47,560 ~-~-> 00:08:51,160 |trade down in there. Now we have a smaller volume balance to see that and
89 |73 |00:08:51,160 ~-~-> 00:08:54,640 |all these wicks. So whenever I have something like that, I can look at the
90 |74 |00:08:54,700 ~-~-> 00:08:59,980 |middle of the wick, which is consequent encroachment. That could be the extreme
91 |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
92 |76 |00:09:04,020 ~-~-> 00:09:06,420 |and then reject and go down into this area down here.
93 |77 |00:09:22,920 ~-~-> 00:09:26,840 |I I want to see it get real heavy in here. I'm
94 |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
95 |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.
96 |80 |00:10:00,780 ~-~-> 00:10:12,120 |If you look at this right here, that wick turned right there and retreated
97 |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
98 |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
99 |83 |00:10:29,720 ~-~-> 00:10:30,020 |there I'm
100 |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
101 |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
102 |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
103 |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
104 |88 |00:11:10,320 ~-~-> 00:11:11,520 |for it on that
105 |89 |00:11:18,180 ~-~-> 00:11:23,660 |level right here. See how we're reaching below that. There. Everything outlined
106 |90 |00:11:23,660 ~-~-> 00:11:28,040 |and look at that. Oh, my goodness. I should probably start a YouTube channel
107 |91 |00:11:28,100 ~-~-> 00:11:33,140 |and teach these things until next time be safe. Do.
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