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Last modified by Drunk Monkey on 2024-08-13 07:58
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4
5 == Outline ==
6
7 ##03:56 -## Birthday, Pinterest, and turtle soup.
8
9 - Host welcomes viewers, shares birthday message and upcoming topics.
10
11 ##05:44 -## Trading during different time frames, focusing on the Asian session.
12
13 - The speaker discusses the "turtle soup" pattern, a reversal setup inspired by Richard Dennis' turtle trading system, which has a low strike rate but captures big runs.
14 - The speaker recommends Linda Rasch and Larry Connors' book "Street Smarts" for its insights on interpreting price action and understanding stop hunts.
15 - ICT will be live streaming from his dining room, with ambience and background noise, to teach son and viewers.
16 - ICT will be discussing the Asian session, focusing on the 6pm restart and lack of volatility in the 7-9pm time frame.
17 - ICT suggests that the least enticing time of day for trading is after 5pm in the States, due to limited trading opportunities and personal schedules.
18 - Despite this, ICT plans to show how to use new day opening gap theory during this time, incorporating previous teachings on Forex.
19
20 ##13:28 -## Using annotations on a trading chart, with the speaker advocating for minimalism and flexibility.
21
22 - ICT emphasizes the importance of accurate annotations and minimal clutter on a chart.
23 - Trader learns to trade naked by gradually removing annotations from charts.
24
25 ##16:44 -## Analyzing price charts for trading bias and identifying key levels.
26
27 - ICT identifies problematic price action, indicating weakness (15 seconds)
28 - ICT highlights repeated patterns in price movement, suggesting algorithmic control (15 seconds)
29 - ICT emphasizes the importance of annotating new day opening gaps on a chart to identify bias and make informed trading decisions.
30 - ICT demonstrates how to annotate these gaps by using the midpoint of the gap as a reference point, and highlights the importance of experience and understanding in trading naked without annotations.
31
32 ##21:56 -## YouTube channel, copyright strikes issued.
33
34 - ICT will release weekly videos on YouTube to provide a personalized development experience for Son.
35 - ICT warns YouTube channels against copying his content, threatening copyright strikes.
36
37 ##25:39 -## Trading and mentoring, emphasizing the importance of understanding market dynamics and avoiding distractions.
38
39 - The speaker describes a scenario where people are blindly following others for attention, clout, or money, rather than taking responsibility for their own actions and decisions.
40 - The speaker aims to provide students with the ability to trade independently, without needing to watch their videos or rely on their mentorship.
41 - ICT emphasizes the importance of proper mentoring and coaching in trading, citing his own experience as a coach.
42 - ICT addresses common questions and concerns from listeners, providing insights and explanations on various topics.
43 - ICT provides explanations and analogies to help traders understand complex concepts.
44 - ICT uses eyeballing techniques to identify key levels on a chart without drawing lines.
45
46 ##32:55 -## Using economic calendar and time to predict market movements.
47
48 - The speaker emphasizes the importance of waiting for the market to create motion before trading, citing the example of the new day opening gap.
49 - The speaker uses chart analysis to identify areas of liquidity and potential trading opportunities, highlighting the importance of annotating these areas for future reference.
50
51 ##35:43 -## Annotating a chart for day trading, focusing on openings and liquidity pools.
52
53 - ICT explains how to annotate a chart to identify potential trading opportunities, using minor buy and sell side liquidity pools.
54 - ICT demonstrates how to copy and paste annotations on Trading View, using Control + drag mouse technique.
55 - ICT teaches how to annotate charts for specific trading times.
56 - ICT explains how algorithm engineers liquidity, taking out short-term pools and creating new highs and lows.
57 - ICT emphasizes the importance of keeping the initial high and low on the chart for learning purposes, but muting their prominence.
58
59 ##43:01 -## Market analysis and trading strategies using Asian session data.
60
61 - ICT discusses market behavior and predictability during Asian session.
62 - The speaker discusses the importance of analyzing the market's behavior around the New Day opening gap, particularly in the early hours of the Asian session.
63 - The speaker highlights the significance of the market crossing back over the New Day opening gap, indicating the formation of initial buy side liquidity and initial sell side liquidity.
64
65 ##47:24 -## Trading strategies using price action and order blocks.
66
67 - The speaker discusses the importance of identifying and trading on the algorithmic movements of the market, particularly during the 7pm-9pm New York time frame.
68 - The speaker highlights the significance of annotating charts to log and analyze the market's algorithmic operations, even for those who may not trade during this time frame.
69 - The speaker identifies a breakaway gap and expects the price to seek momentum and speed.
70 - The speaker aims to enter the market below the body of the down closed candle, recognizing the discount element of the order block.
71
72 ##53:54 -## Trading strategies using market displacement and gap analysis.
73
74 - ICT explains how to identify and trade on opening gaps, using Wyckoff method.
75 - ICT demonstrates how to manage trades by watching for displacement and balancing sales.
76
77 ##56:44 -## Technical analysis and trading strategies using price action.
78
79 - ICT emphasizes the importance of understanding time elements in market analysis.
80 - The speaker analyzes the market by identifying a potential buy side liquidity pool and measuring the price leg leading up to it.
81 - The speaker looks for exit points above the buy side liquidity pool, anticipating a short-lived rally before selling.
82
83 ##59:53 -## Trading strategies and risk management.
84
85 - The speaker is using Fibonacci retracement levels to identify potential price targets based on a measured move from a low to a high.
86 - The speaker is using the midpoint of the Fibonacci levels as a reference point for potential price targets, taking into account standard deviation and the possibility of the price action coloring beyond the expected range.
87 - ICT wants to know where the market will reach and the low hanging fruit threshold.
88 - ICT aims for an exit above or at the low hanging fruit threshold.
89 - The speaker is frustrated with their inability to consistently predict market highs and lows, but is content with their methodology that drives them to buy lows and distribute positions at key points.
90 - The speaker emphasizes the importance of constantly improving and not becoming complacent or lazy in trading, as this can lead to poor decision-making and loss of money.
91
92 ##01:07:31 -## Trading strategies using support and resistance levels.
93
94 - ICT teaches how to identify fake breakouts and consolidations in the market.
95 - Trader challenges viewers to prove the effectiveness of support and resistance levels in live streams.
96
97 ##01:11:22 -## Technical analysis and trading strategies using previous day's highs and lows.
98
99 - ICT references a notepad to track liquidity levels and make trading decisions.
100 - ICT criticizes Apple products, preferring Samsung devices instead.
101 - ICT analyzes the market, identifying a bull flag and potential support resistance levels.
102 - ICT highlights the importance of respecting previous days highs and lows for trading setups.
103
104 ##01:16:26 -## Price action and potential trading opportunities based on technical analysis.
105
106 - ICT highlights the importance of identifying and trading off relative equal lows in the market.
107 - Trader identifies key levels of support and resistance based on price action.
108
109 ##01:19:48 -## Trading hours and opening range.
110
111 - ICT explains that he's not teaching classic support and resistance, but rather a unique perspective on technical science.
112 - He emphasizes the importance of being able to sit still and not overtrade, as this is what messes up traders.
113 - The opening range is established between 9:30 and 10:00 AM, with the majority of the gap closure occurring during this time.
114 - The market will create a sometimes it'll open trade a little bit lower, and then start working higher, drop back down, either take the low it's formed, or just like it did here, very subtly, and then rally.
115
116 ##01:25:28 -## Trading strategies for gaps with a focus on probability and reference points.
117
118 - ICT explains how to identify strong probability areas in a gap, using mid-gap as an example.
119 - ICT highlights the importance of reference points on a chart, particularly for gap trading.
120
121 ##01:28:14 -## Identifying fair value gaps in the stock market using annotated charts.
122
123 - Analyst expresses skepticism towards market sentiment due to looming geopolitical events.
124 - ICT explains importance of reference points in technical analysis.
125 - The speaker emphasizes the importance of identifying fair value gaps in the market and trading them with a clear entry and exit strategy.
126 - The speaker warns against reinventing the rules of trading or trying to do things differently than what has been taught, as it can lead to anxiety and a toxic learning experience.
127
128 ##01:34:26 -## Market behavior without clear news drivers, with potential for choppy trading and big runs.
129
130 - The market can be aimless and choppy when there are no medium or high impact news drivers in the morning session.
131 - External stimuli, such as events in the Middle East or US election, can cause big runs in the market on these types of days.
132
133 ##01:37:04 -## Market analysis and potential retracement.
134
135 - ICT suggests trading range of 20-30% on Friday based on one-sided movement.
136 - Speaker discusses potential market movements based on election year and economic calendar.
137 - ICT analyzes Dow divergence with NASDAQ and SP, taking partial trades based on SMT signals.
138 - ICT expects Dow to disrupt smooth area and relative highs, potentially leading to price disruption.
139
140 == Transcription ==
141
142 (% class="hover min" %)
143 |1 |00:02:45 ~-~-> 00:02:50 |ICT: Well, good morning. It is good morning. Audio check.
144 |2 |00:02:57 ~-~-> 00:02:59 |It's a little loud, isn't it?
145 |3 |00:03:02 ~-~-> 00:03:07 |I sound
146 |4 |00:03:07 ~-~-> 00:03:14 |like I had multiple read applicants. Now, give me a second here, folks, I
147 |5 |00:03:28 ~-~-> 00:03:29 |how do you check? How do you check?
148 |6 |00:03:37 ~-~-> 00:03:38 |How do you check? One, I
149 |7 |00:03:45 ~-~-> 00:03:46 |audio check too.
150 |8 |00:03:56 ~-~-> 00:03:58 |Okay. I think we I think we'll be fine. Now. I
151 |9 |00:04:06 ~-~-> 00:04:11 |All right. So welcome back to the number one live streamer, one YouTube, the
152 |10 |00:04:11 ~-~-> 00:04:19 |ghost with the most I've been dying to say that I'm nothing on one streamer and
153 |11 |00:04:19 ~-~-> 00:04:22 |the same answer to be pumped. I know the guys that like to say they are they're
154 |12 |00:04:22 ~-~-> 00:04:23 |getting their panties on a bunch.
155 |13 |00:04:29 ~-~-> 00:04:36 |All right, so we're going to have a kind of, like an interactive session this
156 |14 |00:04:36 ~-~-> 00:04:43 |morning. I have my son, Caleb, sitting next to me, who was tardy arriving here.
157 |15 |00:04:43 ~-~-> 00:04:50 |So we're going about to be doing the Zoom type of thing. We'll have to have
158 |16 |00:04:50 ~-~-> 00:04:54 |him join us that way, because that way traffic will be a factor for him. But
159 |17 |00:04:54 ~-~-> 00:05:01 |he's here in person. You want to say hi to him. Come. Hello morning. How y'all
160 |18 |00:05:01 ~-~-> 00:05:05 |doing? Say it again so we can talk when you're talking, because they like to
161 |19 |00:05:05 ~-~-> 00:05:08 |think I'm doing Pinterest. Okay, I'm talking. I mean, you're talking to
162 |20 |00:05:08 ~-~-> 00:05:14 |anything right now. Alright. Anyway, I hope you're all doing well, and I
163 |21 |00:05:14 ~-~-> 00:05:21 |believe that everybody that has ever watched my videos has probably sent me a
164 |22 |00:05:21 ~-~-> 00:05:25 |happy birthday wish some way, shape or form, and I appreciate and thank you for
165 |23 |00:05:25 ~-~-> 00:05:31 |all of that. So I'm officially 52 years old, so we're going to talk a little bit
166 |24 |00:05:31 ~-~-> 00:05:36 |about what led to some of the things I was sharing, and then you saw it paying
167 |25 |00:05:36 ~-~-> 00:05:41 |out real time in your charts after I said it would likely do so, and I'm
168 |26 |00:05:41 ~-~-> 00:05:46 |going to give you some tips on turtle soup. So the lecture for turtle soup is
169 |27 |00:05:46 ~-~-> 00:05:51 |this morning as well. Let me preface it by saying turtle soup is this the name
170 |28 |00:05:51 ~-~-> 00:05:58 |that I like? Because I'd like the the kind of like a little snub against the
171 |29 |00:05:58 ~-~-> 00:06:04 |turtle traders, uh, Richard Dennis. He got, he traded a bunch in terms of
172 |30 |00:06:05 ~-~-> 00:06:09 |different markets and whatnot, and he made a point of saying anyone can learn
173 |31 |00:06:09 ~-~-> 00:06:13 |how to be a trader. And he picked a number of people out of different walks
174 |32 |00:06:13 ~-~-> 00:06:16 |of life, and taught him how to trade a trend following model, which was rather
175 |33 |00:06:16 ~-~-> 00:06:21 |simple, but not simple to follow, had a very, very low strike rate, very low
176 |34 |00:06:21 ~-~-> 00:06:26 |accuracy. But when it would win, it would capture big, huge runs, you know,
177 |35 |00:06:26 ~-~-> 00:06:32 |long term trends. It was based on a 20 day high or low breakout. And I don't,
178 |36 |00:06:32 ~-~-> 00:06:38 |obviously, I don't trade breakouts. I'd like to see retail resistance, you know,
179 |37 |00:06:38 ~-~-> 00:06:41 |pegged, and then reverse, and then look for something that would take me to the
180 |38 |00:06:41 ~-~-> 00:06:44 |other side of the other side of the spectrum in terms of, like a discount
181 |39 |00:06:44 ~-~-> 00:06:50 |market and vice versa. So when I say turtle soup, it's kind of like my
182 |40 |00:06:50 ~-~-> 00:06:58 |version of a reversal pattern. And I'll counsel you to take a look at the book
183 |41 |00:06:58 ~-~-> 00:07:02 |street smarts, by Linda Rasch and Larry Connors. I think it's a book that
184 |42 |00:07:02 ~-~-> 00:07:07 |everybody should have in their library. It has a lot of really neat little
185 |43 |00:07:07 ~-~-> 00:07:16 |individual setups. I was more impressed by the little concise views of how to
186 |44 |00:07:16 ~-~-> 00:07:20 |interpret price action around certain pattern formations. It's a little bit
187 |45 |00:07:20 ~-~-> 00:07:26 |pricey, but I think it's worth it. I paid $175 for the book in the mid 90s
188 |46 |00:07:27 ~-~-> 00:07:30 |when it was first introduced, and I just, I think it's a wonderful book. I
189 |47 |00:07:30 ~-~-> 00:07:34 |don't subscribe to everything in there, because it's a lot to do with indicators
190 |48 |00:07:34 ~-~-> 00:07:41 |and such, but I believe that book had the largest influence on me in terms of
191 |49 |00:07:41 ~-~-> 00:07:48 |understanding stop hunts. So when a stop hunt takes place, it made sense for me
192 |50 |00:07:48 ~-~-> 00:07:52 |to understand what was going on when I read that book. So that book had an
193 |51 |00:07:52 ~-~-> 00:07:57 |influence on me as an early developing trader, trying to find my groove, trying
194 |52 |00:07:57 ~-~-> 00:08:02 |to find a lot of confidence in the things that I deal with today when I'm
195 |53 |00:08:02 ~-~-> 00:08:08 |reading price action, but she she has a pattern in there. Linda Rask has a
196 |54 |00:08:08 ~-~-> 00:08:13 |pattern in that book. It's called turtle soup, where they facetiously made, kind
197 |55 |00:08:14 ~-~-> 00:08:19 |of like a snubbing little jest against the turtle breakout system, where many
198 |56 |00:08:19 ~-~-> 00:08:24 |times, since their strike rate was so low, they said, Okay, well, if it's so
199 |57 |00:08:24 ~-~-> 00:08:28 |low, well let's do the opposite, meaning that if they try to buy a breakout above
200 |58 |00:08:28 ~-~-> 00:08:33 |the 20 day high, many times that's going to fail. So since they had a low strike
201 |59 |00:08:33 ~-~-> 00:08:36 |rate, and being accurate, doing that, so therefore there must be an opportunity
202 |60 |00:08:36 ~-~-> 00:08:41 |there to do the opposite. So if it breaks out above a 20 day high, reverse
203 |61 |00:08:41 ~-~-> 00:08:46 |and go back into the range and take that as a trade. So hence turtle suit. So the
204 |62 |00:08:46 ~-~-> 00:08:51 |turtle traders is what he Richard Dennis named his little collection of off the
205 |63 |00:08:51 ~-~-> 00:08:56 |street type individuals, different walks of life, trading them to be a trader. He
206 |64 |00:08:56 ~-~-> 00:09:01 |dubbed in the turtles. So naturally, the the pattern turtle soup makes perfect
207 |65 |00:09:01 ~-~-> 00:09:08 |sense, because they're, they're cooked, right? Well, I don't look at a 20 day
208 |66 |00:09:08 ~-~-> 00:09:12 |high. I don't look at a 20 day low. And didn't say that that's that's all there
209 |67 |00:09:12 ~-~-> 00:09:15 |is to it. There's other things. And I'm going to show you some of those
210 |68 |00:09:15 ~-~-> 00:09:18 |characteristics today before we close. That'll be towards the end the of the
211 |69 |00:09:18 ~-~-> 00:09:26 |discussion. I'm aiming for around 945 to 10 o'clock, or sooner, depending upon
212 |70 |00:09:26 ~-~-> 00:09:30 |how my wife comes back to the house and disrupts everything. So that's going to
213 |71 |00:09:30 ~-~-> 00:09:36 |be the determinant factor that ends the stream. So I'm sending a live stream
214 |72 |00:09:36 ~-~-> 00:09:40 |with you in my dining room so you can hear all the ambience that's going on
215 |73 |00:09:40 ~-~-> 00:09:44 |behind it, because I'm not here for you, I'm here for my son, so I'm teaching
216 |74 |00:09:44 ~-~-> 00:09:48 |him. So this is what would be going on anyway. So you're here like it would be
217 |75 |00:09:48 ~-~-> 00:09:52 |if you were sitting at the table with us. You just just being quiet and taking
218 |76 |00:09:52 ~-~-> 00:10:01 |notes. Alright? So I want to open up with, yes, we'll be doing London. I. So
219 |77 |00:10:01 ~-~-> 00:10:04 |there'll be an episode where I'm going to be live streaming the london session.
220 |78 |00:10:04 ~-~-> 00:10:08 |So that way you can take some of the concepts that I'm teaching you this week
221 |79 |00:10:08 ~-~-> 00:10:11 |and you can apply it to that time frame. So if you're not a New York session
222 |80 |00:10:11 ~-~-> 00:10:14 |trader, whether it be the morning session or the afternoon session, you
223 |81 |00:10:14 ~-~-> 00:10:18 |can't do that for sleep or business or whatever, and you want to be trading in
224 |82 |00:10:18 ~-~-> 00:10:21 |a London session, I will be, I'll be doing that within the next two weeks. I
225 |83 |00:10:21 ~-~-> 00:10:25 |don't want to promise a specific date, because every time I try to do that,
226 |84 |00:10:25 ~-~-> 00:10:29 |something invariably comes up and messes it all up. So just know that it'll be in
227 |85 |00:10:29 ~-~-> 00:10:33 |the next two weeks. Okay, how long am I gonna be live streaming and doing this?
228 |86 |00:10:33 ~-~-> 00:10:37 |I don't know, so just show up every time it happens. And if you can't be here
229 |87 |00:10:37 ~-~-> 00:10:42 |live, just wants to replay. It's fine. But today I want to talk initially about
230 |88 |00:10:42 ~-~-> 00:10:46 |the Asian session around when the market starts trading at the six o'clock
231 |89 |00:10:46 ~-~-> 00:10:51 |restart. So again, as we talked about, at 5pm every day, there's a one hour
232 |90 |00:10:51 ~-~-> 00:10:56 |break in indices, and then they resume trading at six o'clock, going into the
233 |91 |00:10:56 ~-~-> 00:11:02 |seven to nine o'clock time frame, where we can anticipate not a lot of
234 |92 |00:11:02 ~-~-> 00:11:07 |volatility. But there's something there that if you're a working class hero in
235 |93 |00:11:07 ~-~-> 00:11:10 |the States, and you come home and you work nine to five, you come home, grab
236 |94 |00:11:10 ~-~-> 00:11:15 |something, Eat Real quick, maybe pull your computer up, and let's see what the
237 |95 |00:11:15 ~-~-> 00:11:20 |market's going to do at the new open at 6pm and then watch it going into Asia.
238 |96 |00:11:20 ~-~-> 00:11:24 |That might be your only opportunity to trade. So we're going to talk about that
239 |97 |00:11:24 ~-~-> 00:11:29 |today, trying to give you a resource and perspective at that time of day, how to
240 |98 |00:11:29 ~-~-> 00:11:32 |look for the setup using what I've taught this week. Okay, so you can see,
241 |99 |00:11:32 ~-~-> 00:11:36 |nothing's changing. Nothing's morphing into some complicated thing. It's just a
242 |100 |00:11:36 ~-~-> 00:11:41 |matter of taking your personal life, your your perspective on when it is
243 |101 |00:11:41 ~-~-> 00:11:44 |appropriate for you to be sitting in front of the charts, and then I'm going
244 |102 |00:11:44 ~-~-> 00:11:47 |to show you how to apply it to those specific times of day. So you have,
245 |103 |00:11:47 ~-~-> 00:11:55 |let's see, we got London, New York open. We have the pm session in New York, and
246 |104 |00:11:55 ~-~-> 00:12:01 |then we have the Asian session. So we have a plethora of opportunities, but
247 |105 |00:12:01 ~-~-> 00:12:06 |it's up to you define which one you're going to operate in. Okay? So in my
248 |106 |00:12:06 ~-~-> 00:12:10 |opinion, and this is just purely my opinion, it's not to sway you. So if
249 |107 |00:12:10 ~-~-> 00:12:14 |this is the time that you're going to be working in, you know, after 5pm coming
250 |108 |00:12:14 ~-~-> 00:12:19 |home from work in the States, this is all new york local time, by the way, if
251 |109 |00:12:19 ~-~-> 00:12:22 |you're only able to do a couple hours in the evening before going to bed and
252 |110 |00:12:22 ~-~-> 00:12:26 |starting it all over again, going to work the following morning. Just know
253 |111 |00:12:26 ~-~-> 00:12:33 |that this is the least enticing time of day for me to trade me personally. So
254 |112 |00:12:33 ~-~-> 00:12:36 |and now it sounds like I'm dumping on that, and that's going to be very
255 |113 |00:12:36 ~-~-> 00:12:40 |discouraging for you, because that's the one you're really only able to trade
256 |114 |00:12:40 ~-~-> 00:12:45 |with it could be a little just disenchanting or deflating to you
257 |115 |00:12:45 ~-~-> 00:12:49 |saying, okay, YCT says this time of day sucks, but you know, if that's where you
258 |116 |00:12:49 ~-~-> 00:12:53 |got to start, while you have your job, and you can grow from that, just know
259 |117 |00:12:53 ~-~-> 00:12:58 |that that's, this is the least one, least of the time of day that I'm
260 |118 |00:12:58 ~-~-> 00:13:01 |interested in trading, which goes along with what I said when I was teaching
261 |119 |00:13:01 ~-~-> 00:13:06 |Forex, predominantly, I'm not interested in the agent session all that much. So
262 |120 |00:13:06 ~-~-> 00:13:11 |since we're gonna be talking about that time of day, we're gonna see how to use
263 |121 |00:13:11 ~-~-> 00:13:16 |this new day opening gap theory with that time of day, and then incorporate
264 |122 |00:13:16 ~-~-> 00:13:20 |the things I've talked about early on. So with all that, let's get into the
265 |123 |00:13:20 ~-~-> 00:13:26 |business. I'm going to scroll back here we have this is my NQ template, so when
266 |124 |00:13:26 ~-~-> 00:13:31 |I'm watching price, this is what it looks like. Okay, I will have
267 |125 |00:13:31 ~-~-> 00:13:35 |annotations. I will have things that I want to call on when I need to see it or
268 |126 |00:13:35 ~-~-> 00:13:38 |reference if I second guess a number. If I'm looking at my notepad, and maybe
269 |127 |00:13:38 ~-~-> 00:13:42 |I've done something like anybody else would as a human being, I write down a
270 |128 |00:13:42 ~-~-> 00:13:45 |number that doesn't just, it doesn't seem right. It seems like, wait a
271 |129 |00:13:45 ~-~-> 00:13:49 |minute, that doesn't that number was probably written down incorrectly. Maybe
272 |130 |00:13:49 ~-~-> 00:13:53 |I was looking at the phone. Maybe I was listening to my wife ask me something
273 |131 |00:13:53 ~-~-> 00:13:57 |and tell me that, you know, make sure this is something to that effect, you
274 |132 |00:13:57 ~-~-> 00:14:00 |know, I'm a husband too, right? Or one of my kids distract me, or my dogs
275 |133 |00:14:00 ~-~-> 00:14:04 |distract me, and then I write down a number wrong. You've heard me miss call
276 |134 |00:14:04 ~-~-> 00:14:08 |a market maker. Buy model as a market maker, sell model. When I said
277 |135 |00:14:08 ~-~-> 00:14:11 |redistribution, when it should have been a re accumulation. So that's an element
278 |136 |00:14:11 ~-~-> 00:14:13 |of humanism, and we're going to make a mistake.
279 |137 |00:14:15 ~-~-> 00:14:20 |I may need to call the information back onto the chart. I don't like the habit
280 |138 |00:14:20 ~-~-> 00:14:25 |on my chart, I only have annotations for the sake of teaching you. I know what
281 |139 |00:14:25 ~-~-> 00:14:29 |I'm looking for, and I know what I'm focusing on for that particular session
282 |140 |00:14:29 ~-~-> 00:14:33 |or that day, and I know the key levels, because they're usually written on a
283 |141 |00:14:33 ~-~-> 00:14:37 |piece of paper next to me. I'm not interested in having a lot of stuff on
284 |142 |00:14:37 ~-~-> 00:14:40 |my chart, because what that'll do, number one, it clutters it up. My eye
285 |143 |00:14:40 ~-~-> 00:14:44 |goes to it. It may and may be a factor for you. Where you start looking at the
286 |144 |00:14:44 ~-~-> 00:14:47 |lines and you wonder, How many times did it touch? It becomes a distraction,
287 |145 |00:14:47 ~-~-> 00:14:52 |right? So if you keep your chart naked, but you have the price levels in mind,
288 |146 |00:14:52 ~-~-> 00:14:58 |what you're actually doing is you're learning to trade naked, and by trading
289 |147 |00:14:58 ~-~-> 00:15:03 |naked, you're not going to have. Any influence at all, except for what the
290 |148 |00:15:03 ~-~-> 00:15:07 |price is actually doing at the time while you're looking at it. So in the
291 |149 |00:15:07 ~-~-> 00:15:12 |beginning, I say this, it's okay for you to have the annotations on your chart.
292 |150 |00:15:12 ~-~-> 00:15:19 |Initially, that's fine, but having them on, you know, once you understand what
293 |151 |00:15:19 ~-~-> 00:15:22 |you're doing, you want to try to try to gravitate to that where you're trying to
294 |152 |00:15:22 ~-~-> 00:15:26 |have as little as possible on your charts and keeping them clean, because
295 |153 |00:15:26 ~-~-> 00:15:29 |you'll find what you can't really appreciate right now, while you're new
296 |154 |00:15:29 ~-~-> 00:15:33 |or haven't really done these types of things. By watching price with these
297 |155 |00:15:34 ~-~-> 00:15:38 |tools and these reference points being referred to while watching price
298 |156 |00:15:38 ~-~-> 00:15:43 |deliver, you'll find once you understand how to use this information, and by
299 |157 |00:15:43 ~-~-> 00:15:46 |having them on a notepad next to you, and you're constantly referring to the
300 |158 |00:15:46 ~-~-> 00:15:52 |relationship to where prices right now versus them on a external piece of
301 |159 |00:15:52 ~-~-> 00:15:57 |paper, or maybe a notepad, or not a notepad, but like a like a tablet, it
302 |160 |00:15:59 ~-~-> 00:16:03 |needs to be external from the chart, and that way it'll allow you to be flexible.
303 |161 |00:16:03 ~-~-> 00:16:08 |And I noticed in my own development when I would sense that the market was
304 |162 |00:16:08 ~-~-> 00:16:12 |probably in trouble and not going to be continuously moving where I wanted to
305 |163 |00:16:12 ~-~-> 00:16:16 |go, when I had all these types of annotations on my chart, what it what it
306 |164 |00:16:16 ~-~-> 00:16:22 |did for me was it kind of like helped me in an adverse way of holding on
307 |165 |00:16:22 ~-~-> 00:16:28 |stubbornly and say, No, I'm imposing my will. It's going to do this because I
308 |166 |00:16:28 ~-~-> 00:16:32 |have these lines and things annotated on my chart, so it's going to happen. And
309 |167 |00:16:32 ~-~-> 00:16:36 |for me to break out of that, I had to force myself eventually. It didn't
310 |168 |00:16:36 ~-~-> 00:16:40 |happen fast. It didn't happen real quick, but I had to move away from
311 |169 |00:16:40 ~-~-> 00:16:45 |having annotations entirely at all on my chart. And then I became a lot more
312 |170 |00:16:45 ~-~-> 00:16:48 |flexible where I could see, okay, yeah, this is problematic. It's telling me
313 |171 |00:16:49 ~-~-> 00:16:53 |because price is showing all kinds of signatures, and signatures are types of
314 |172 |00:16:53 ~-~-> 00:16:56 |things I talked about, like where we didn't see it trade into a fair value
315 |173 |00:16:56 ~-~-> 00:17:00 |gaps, midpoint or consequent encroachment, if it trades up into it
316 |174 |00:17:00 ~-~-> 00:17:05 |when we're bearish and it fails to touch that, that is indicative of weakness,
317 |175 |00:17:05 ~-~-> 00:17:08 |because if it can't even touch the midpoint of the fair value gap or
318 |176 |00:17:08 ~-~-> 00:17:13 |inefficiency, then it's decidedly weak, right? So we can really feel confident
319 |177 |00:17:13 ~-~-> 00:17:19 |that if we take another bearish order block as an entry, if we get A a fair
320 |178 |00:17:19 ~-~-> 00:17:24 |value gap after that one that's on a 15 second chart, it's going to probably be
321 |179 |00:17:24 ~-~-> 00:17:28 |a winner, because everything is indicating that it's now going to be
322 |180 |00:17:28 ~-~-> 00:17:34 |moving one sided, decisively lower, because it can't even trade up to a PD
323 |181 |00:17:34 ~-~-> 00:17:39 |array. So if the PD arrays are failing when I'm already looking for a short and
324 |182 |00:17:39 ~-~-> 00:17:43 |they can't even fill in or just trade back to the midpoint of it. That's
325 |183 |00:17:43 ~-~-> 00:17:49 |wonderful insight. That's wonderful it keys up on this is going to be a nice
326 |184 |00:17:49 ~-~-> 00:17:54 |run, and then look for the inefficiency below price, or a single low, or
327 |185 |00:17:54 ~-~-> 00:17:59 |relatively good lows for it to trade, to sell side liquidity. But I just want to
328 |186 |00:17:59 ~-~-> 00:18:03 |mention this before we get into it, because you're going to see a lot of
329 |187 |00:18:03 ~-~-> 00:18:07 |lines again today on the chart. And I want you to understand that I don't have
330 |188 |00:18:07 ~-~-> 00:18:11 |this on my chart, but you need this initially for you to study, because
331 |189 |00:18:11 ~-~-> 00:18:15 |you're not supposed to be pushing any buttons, even on a demo. You're supposed
332 |190 |00:18:15 ~-~-> 00:18:19 |to be studying how price gravitates and moves around them and pulls back to them
333 |191 |00:18:19 ~-~-> 00:18:23 |as a kind of like a magnet, and draws price back to them, not just the one
334 |192 |00:18:23 ~-~-> 00:18:28 |time. It will constantly refer back to them, which is what, in my opinion,
335 |193 |00:18:28 ~-~-> 00:18:34 |proves unequivocally that there is absolutely an algorithm. And anyone that
336 |194 |00:18:34 ~-~-> 00:18:38 |looks at this and studies it, they're going to have to come to the conclusion
337 |195 |00:18:38 ~-~-> 00:18:44 |that either their structured randomness, which is an oxymoron, or there's
338 |196 |00:18:44 ~-~-> 00:18:49 |something in control, and they keep going back to these levels that's never
339 |197 |00:18:49 ~-~-> 00:18:54 |really been referred to in history as a repeating phenomenon until I revealed it
340 |198 |00:18:54 ~-~-> 00:19:01 |to you all. So having that generic perspective grow in terms of new week,
341 |199 |00:19:01 ~-~-> 00:19:06 |opening gaps, new day, opening gaps. Those are your primary factors for
342 |200 |00:19:06 ~-~-> 00:19:13 |determining bias. Now the bias can be reduced to this just the session that
343 |201 |00:19:13 ~-~-> 00:19:18 |you're trading. It can be reduced down to that hour. So we can have models that
344 |202 |00:19:18 ~-~-> 00:19:22 |build what's the hour that we're about to start trading in. What's that bias
345 |203 |00:19:22 ~-~-> 00:19:28 |going to be? What's the bias for the next three hours? That's typically like
346 |204 |00:19:28 ~-~-> 00:19:34 |a session. What's the bias for the entire morning before noon, lunch time
347 |205 |00:19:34 ~-~-> 00:19:40 |in New York? What is the entire daily change bias? What is that going to be?
348 |206 |00:19:40 ~-~-> 00:19:43 |And how to, how to, how do we arrive at that? Well, you're going to use the same
349 |207 |00:19:43 ~-~-> 00:19:47 |things I taught this week. You're just going to be looking for a starting
350 |208 |00:19:47 ~-~-> 00:19:51 |point. When is it going to set the beginning point? Well, in the evening
351 |209 |00:19:51 ~-~-> 00:19:58 |time. You're going to be waiting for six o'clock and, you know, annotate where we
352 |210 |00:19:58 ~-~-> 00:20:04 |open. And. To where we closed at five o'clock. So that our gap in indices,
353 |211 |00:20:05 ~-~-> 00:20:09 |we're annotating that for the new day opening gap, and whichever that six
354 |212 |00:20:09 ~-~-> 00:20:13 |o'clock opening price is if it's above or below. If it's above the closing
355 |213 |00:20:13 ~-~-> 00:20:18 |price at five o'clock, when we have our hour break, if it's above it, that means
356 |214 |00:20:18 ~-~-> 00:20:24 |that that 6pm opening price is your new day opening gap high, and if it opens
357 |215 |00:20:24 ~-~-> 00:20:31 |below where we closed at 5pm that means we have a new date. New Day opening gap
358 |216 |00:20:31 ~-~-> 00:20:35 |lower, and that 6pm opening price that you're going to annotate is going to be
359 |217 |00:20:35 ~-~-> 00:20:40 |your new day opening gap low, and you find the equilibrium, or not equal to
360 |218 |00:20:40 ~-~-> 00:20:45 |the consequence, which is the midpoint of it, if it's over 20 handles or so, if
361 |219 |00:20:45 ~-~-> 00:20:49 |it's over 20 handles, then I'm going to probably have, you know, the midpoint
362 |220 |00:20:50 ~-~-> 00:20:54 |consequent crochet annotated. Certainly anything above 20 handles, I'm always
363 |221 |00:20:54 ~-~-> 00:20:57 |going to have that there. If it's less than I'm always going to just eyeball
364 |222 |00:20:57 ~-~-> 00:21:01 |it. And the reason why I want to have that there, because if, if it's above 20
365 |223 |00:21:01 ~-~-> 00:21:06 |handles, and I have a reference point that tells me that level, I know by
366 |224 |00:21:06 ~-~-> 00:21:09 |eyeballing it, just looking out, not having annotation, I can see where the
367 |225 |00:21:09 ~-~-> 00:21:12 |upper quadrant and the lower quadrant inside that New Day opening gap would
368 |226 |00:21:12 ~-~-> 00:21:19 |be. I don't have to have the lines on there. Okay, so my, my emphasis today is
369 |227 |00:21:19 ~-~-> 00:21:22 |for you to while these are important things to have on your chart initially,
370 |228 |00:21:22 ~-~-> 00:21:25 |while you're learning, and it doesn't mean rush through it, because you want
371 |229 |00:21:25 ~-~-> 00:21:29 |to go to a point of not having anything on your chart because I say I don't, and
372 |230 |00:21:29 ~-~-> 00:21:32 |therefore you want to be just like me, and you think it's going to be a
373 |231 |00:21:32 ~-~-> 00:21:36 |superpower. It's going to slow you down if you try to trade naked without
374 |232 |00:21:36 ~-~-> 00:21:40 |understanding or having the experience of seeing weeks and months of this. So
375 |233 |00:21:40 ~-~-> 00:21:45 |while I'm kind of like ushering Caleb through one month of this stage, he's
376 |234 |00:21:45 ~-~-> 00:21:49 |looked at charts, you know, before this, so I'm just going through the pantomime
377 |235 |00:21:49 ~-~-> 00:21:52 |basically, of saying this is what you would be doing if you're new, but you
378 |236 |00:21:52 ~-~-> 00:21:56 |would be doing it for a couple months, whereas I'm just doing it for four weeks
379 |237 |00:21:56 ~-~-> 00:21:59 |with him. So that way you can see a baseline of what journal journaling
380 |238 |00:21:59 ~-~-> 00:22:06 |looks like. And while we're talking about that, I want you to know what his
381 |239 |00:22:06 ~-~-> 00:22:13 |YouTube channel is. And this is a little picture here that I wanted to refer to
382 |240 |00:22:13 ~-~-> 00:22:22 |later on, so we'll have this as a talking point in a moment. His YouTube
383 |241 |00:22:22 ~-~-> 00:22:22 |channel.
384 |242 |00:22:35 ~-~-> 00:22:42 |Is this correct? Son? Yes, sir. All right, so that is, if you put this in
385 |243 |00:22:42 ~-~-> 00:22:52 |the Search tab on YouTube, that's his channel, we will have the first video
386 |244 |00:22:52 ~-~-> 00:22:57 |for his development, his review, how He sees things based on what I taught this
387 |245 |00:22:57 ~-~-> 00:23:01 |week, and what his charts look like every Everything that I've been
388 |246 |00:23:01 ~-~-> 00:23:06 |instructed you all to do and him throughout this week, Sunday, probably
389 |247 |00:23:06 ~-~-> 00:23:10 |Sunday evening. I don't know what time, but it'll be sometime in the evening
390 |248 |00:23:10 ~-~-> 00:23:15 |time the video will launch there. And then I'm telling him I want to midweek,
391 |249 |00:23:16 ~-~-> 00:23:20 |like, I need to see what he's doing and what he's looking at, what his charts
392 |250 |00:23:20 ~-~-> 00:23:23 |are being annotated. Like, I don't want to go the whole week, because if you
393 |251 |00:23:23 ~-~-> 00:23:28 |spend the entire week doing the wrong things, that's building bad habits, and
394 |252 |00:23:28 ~-~-> 00:23:31 |I want to know what he's doing in the middle of the week. So there might be a
395 |253 |00:23:31 ~-~-> 00:23:35 |Wednesday video, and in a weekend video, okay, but if you subscribe to this
396 |254 |00:23:35 ~-~-> 00:23:41 |channel here, then you'll be able to see the perspective from him, and then where
397 |255 |00:23:41 ~-~-> 00:23:44 |I'm counseling him, what he's doing correctly, what he's not doing
398 |256 |00:23:44 ~-~-> 00:23:48 |correctly, and adjust and calibrate where his focus needs to be going
399 |257 |00:23:48 ~-~-> 00:23:53 |forward. So that way, it's kind of like you're in the classroom with him, but
400 |258 |00:23:53 ~-~-> 00:23:56 |I'm not answering your questions. Okay? So you have to, you have to just
401 |259 |00:23:56 ~-~-> 00:24:01 |experience it through his his eyes, his understanding, and you'll see when it
402 |260 |00:24:01 ~-~-> 00:24:06 |gets in the woodshed too. So anyway, that's I'll have a link for it also on
403 |261 |00:24:06 ~-~-> 00:24:09 |my YouTube channel. So that way anybody that comes out and tries to put their
404 |262 |00:24:09 ~-~-> 00:24:12 |little fake bullshit and they try to copy it, so that way they can get
405 |263 |00:24:12 ~-~-> 00:24:17 |traffic to their channel if you copy any of my videos. ICT gems YouTube channel,
406 |264 |00:24:17 ~-~-> 00:24:20 |I already see that you're putting stuff up there right from these live streams
407 |265 |00:24:20 ~-~-> 00:24:23 |I'm gonna be doing. Copyright strikes against you this. Against you this
408 |266 |00:24:23 ~-~-> 00:24:26 |evening. I already said, do not do that. If you take little snippets and stuff
409 |267 |00:24:26 ~-~-> 00:24:29 |like that, little pieces, you know, I don't care about that, but you're
410 |268 |00:24:29 ~-~-> 00:24:32 |putting the entire lecture on your channel. So I'm letting you know I'm
411 |269 |00:24:32 ~-~-> 00:24:36 |sending shots to you tonight. If you want to take them down. Wonderful. I
412 |270 |00:24:36 ~-~-> 00:24:39 |won't do it. But if you're doing that, and you're another YouTube channel, like
413 |271 |00:24:39 ~-~-> 00:24:44 |inner circle trader Brazil, you've been translating everything into your
414 |272 |00:24:44 ~-~-> 00:24:48 |language there. I'm getting ready to fire them off towards you as well. I do
415 |273 |00:24:48 ~-~-> 00:24:53 |not give anybody permission to do that. If you use the closed caption option,
416 |274 |00:24:54 ~-~-> 00:24:58 |you can find your language. Okay? I've shown it several times when I was doing
417 |275 |00:24:58 ~-~-> 00:25:01 |live streams on how to do it. If. Always there, but you got to wait for the
418 |276 |00:25:01 ~-~-> 00:25:06 |transcript to be completed by the servers on YouTube. Once that's done,
419 |277 |00:25:07 ~-~-> 00:25:12 |all the languages can be converted right onto the closed caption. Okay, so, and
420 |278 |00:25:12 ~-~-> 00:25:16 |that sounds like a dick move, but I kind of warned you. So if you're gonna, if
421 |279 |00:25:16 ~-~-> 00:25:19 |you want to lose all your ad revenue, because you're gonna put, I'm gonna put
422 |280 |00:25:19 ~-~-> 00:25:22 |as many videos as you have on your channel. That's how many copies strike
423 |281 |00:25:22 ~-~-> 00:25:27 |us. Copy right? Strikes I'm going to put against your channel. So just don't do
424 |282 |00:25:27 ~-~-> 00:25:32 |it okay, because you're you're gonna lose everything. So with that said, this
425 |283 |00:25:32 ~-~-> 00:25:38 |little picture here, I wanted to talk about this as we open up going into the
426 |284 |00:25:38 ~-~-> 00:25:46 |charts. What this does. It depicts the the idea of everybody out there trying
427 |285 |00:25:46 ~-~-> 00:25:51 |to do something for the sake of attention, clout, ad revenue, clicks
428 |286 |00:25:52 ~-~-> 00:25:55 |engagements, because that's what makes people money on like Twitter or
429 |287 |00:25:55 ~-~-> 00:26:01 |whatever. But when you're trying to influence other people with price action
430 |288 |00:26:01 ~-~-> 00:26:05 |or techniques to trade with, and you're trying to inspire them to do something
431 |289 |00:26:06 ~-~-> 00:26:10 |to make money and prevent losing money, or you're trying to get people all fired
432 |290 |00:26:10 ~-~-> 00:26:17 |up. This picture really communicates, in my mind, you know, what most people are
433 |291 |00:26:17 ~-~-> 00:26:24 |experiencing, it's the blind leading the blind. Okay? And I hope that this week
434 |292 |00:26:24 ~-~-> 00:26:29 |sitting with me proves that number one, my concepts are absolutely the source
435 |293 |00:26:29 ~-~-> 00:26:34 |code to price. It's exactly what price is going to do at the times that it's
436 |294 |00:26:34 ~-~-> 00:26:40 |expected to do it. It's not ambiguous. It's not it's kind of close. It's right
437 |295 |00:26:40 ~-~-> 00:26:45 |to the tick. It's right to the tick, okay? And it repeats. And I have the
438 |296 |00:26:45 ~-~-> 00:26:48 |ability to communicate that and transpose that information into
439 |297 |00:26:48 ~-~-> 00:26:53 |students, and they're able to use this information independent of me saying
440 |298 |00:26:53 ~-~-> 00:26:56 |what I think the market's going to do. In other words, I have students that can
441 |299 |00:26:56 ~-~-> 00:27:00 |do what I've taught them, and they don't ever need to watch another ICT video.
442 |300 |00:27:00 ~-~-> 00:27:04 |And that should be your goal. Your goal should be, once you go through this
443 |301 |00:27:04 ~-~-> 00:27:09 |mentorship, your goal should I'm never going to go watch something ICT posted.
444 |302 |00:27:10 ~-~-> 00:27:13 |It might be just as let me just tap in and see what he's doing now. I am
445 |303 |00:27:13 ~-~-> 00:27:17 |interested in what he says, but I've been there in a couple months, or six
446 |304 |00:27:17 ~-~-> 00:27:20 |months or a year. Let me just see what he's up to now. And that's, the
447 |305 |00:27:20 ~-~-> 00:27:25 |perspective. But really your goal is you never want to watch another ICT video.
448 |306 |00:27:25 ~-~-> 00:27:28 |You never want to come to my YouTube channel. You don't have to worry about
449 |307 |00:27:28 ~-~-> 00:27:31 |making more ad revenue for me by clicking on any of my videos. That's
450 |308 |00:27:31 ~-~-> 00:27:35 |your goal, okay? Because if that's your goal, what that means is you're taking
451 |309 |00:27:35 ~-~-> 00:27:40 |it serious, and you don't want any tethering between me and you. That's
452 |310 |00:27:40 ~-~-> 00:27:43 |what a real mentor wants in their students. I don't want any of you
453 |311 |00:27:44 ~-~-> 00:27:48 |holding on my hand or expecting me to walk you through every little trial and
454 |312 |00:27:48 ~-~-> 00:27:52 |tribulation you go through as a trader, because I've already covered 99% of
455 |313 |00:27:52 ~-~-> 00:27:56 |that. But there's a lot of folks out there that are going to try to tell you,
456 |314 |00:27:56 ~-~-> 00:28:01 |this is good. This isn't good. What ICT said, or they're going to try to strip
457 |315 |00:28:01 ~-~-> 00:28:07 |it down even to less that hopefully will make them stand out and say, Okay, I'm
458 |316 |00:28:07 ~-~-> 00:28:11 |going to answer the call for the people that have Tiktok mentality, the
459 |317 |00:28:11 ~-~-> 00:28:15 |attention span of a gnat, and think that that's going to help them. It's not
460 |318 |00:28:15 ~-~-> 00:28:18 |going to help you. That won't help you, it'll make you feel like you're getting
461 |319 |00:28:18 ~-~-> 00:28:22 |right to the point, but that just means that you're going to get to the
462 |320 |00:28:22 ~-~-> 00:28:26 |actionable things, but you won't have the counseling elements that go around
463 |321 |00:28:26 ~-~-> 00:28:29 |it, because soon as you find the hardship by doing it, you're going to
464 |322 |00:28:29 ~-~-> 00:28:32 |quit and think it doesn't work, or you're not going to know how to cope
465 |323 |00:28:32 ~-~-> 00:28:36 |with it, and then grind through it, which is what I'm doing. I coach you
466 |324 |00:28:36 ~-~-> 00:28:41 |through this, and it gives you the perspective to maintain or expect going
467 |325 |00:28:41 ~-~-> 00:28:46 |into it, and then what's the proper perspective after you endure it? That's
468 |326 |00:28:46 ~-~-> 00:28:50 |mentoring. That's real mentoring. That's not someone that's I'm not here for
469 |327 |00:28:50 ~-~-> 00:28:54 |clicks, okay? I'm here to make sure that you watch my shit, you understand it
470 |328 |00:28:54 ~-~-> 00:28:59 |correctly. You do the things that's correctly explained to you, and avoid
471 |329 |00:28:59 ~-~-> 00:29:02 |all the dumb stuff that's going to either slow you down or mess you up or
472 |330 |00:29:02 ~-~-> 00:29:08 |derail you. This is, this is how I would be wanting to be trained. I'm taking the
473 |331 |00:29:08 ~-~-> 00:29:13 |time to make sure that you understand it in detail, and I want to see you succeed
474 |332 |00:29:13 ~-~-> 00:29:18 |with it. So the blind leading the blind. You know that's always going to be a
475 |333 |00:29:18 ~-~-> 00:29:24 |factor, but no one can deny that I was all over this this week, every single
476 |334 |00:29:24 ~-~-> 00:29:34 |day, perfect, not just close, but perfect. Perfect. There's framework that
477 |335 |00:29:34 ~-~-> 00:29:38 |we're going to pull in with the daily chart today. Okay, because it's salient
478 |336 |00:29:38 ~-~-> 00:29:44 |to the discussion, but I want you to know that we did not refer to anything
479 |337 |00:29:44 ~-~-> 00:29:50 |above a 15 minute chart, except for the session on Monday where I showed you
480 |338 |00:29:50 ~-~-> 00:29:56 |that big gap on the daily chart, which happened to be the new week opening gap.
481 |339 |00:29:57 ~-~-> 00:30:02 |We'll talk about that today, and then how also. Fits into the equation of how
482 |340 |00:30:02 ~-~-> 00:30:05 |we're using the clustering of inefficiencies with new day opening gaps
483 |341 |00:30:05 ~-~-> 00:30:10 |and new week opening gaps. Because I know there's a plethora of questions
484 |342 |00:30:10 ~-~-> 00:30:15 |that this week has caused you to build up in your mind, or maybe you have a
485 |343 |00:30:15 ~-~-> 00:30:18 |journal page full of all kinds of questions. I hope I see talks about
486 |344 |00:30:18 ~-~-> 00:30:21 |this, this, this, this, I might hit some of them today. I may not okay, but just
487 |345 |00:30:21 ~-~-> 00:30:27 |know that every time you show up here, I'm going to answer something, and it
488 |346 |00:30:27 ~-~-> 00:30:31 |may be a question that it's been months or longer for some of you, and then I'll
489 |347 |00:30:31 ~-~-> 00:30:35 |say something that will open your understanding about it and say, oh yeah.
490 |348 |00:30:35 ~-~-> 00:30:39 |Now it makes perfect sense. And it may not even be me directly saying the very
491 |349 |00:30:39 ~-~-> 00:30:41 |thing that you have a question about, but because you get further
492 |350 |00:30:41 ~-~-> 00:30:46 |understanding about another element that supports the underlying question or
493 |351 |00:30:46 ~-~-> 00:30:50 |concern or doubt you have, then it becomes, oh, well, that cannot make
494 |352 |00:30:50 ~-~-> 00:30:54 |sense. And there's so many opportunities for me to be able to throw an analogy
495 |353 |00:30:54 ~-~-> 00:31:01 |from I can't begin to start with one of them, but the session starting at six
496 |354 |00:31:01 ~-~-> 00:31:05 |o'clock. Okay, we're going to zoom in this little area right here. I'm
497 |355 |00:31:23 ~-~-> 00:31:31 |all right, there is the five o'clock, or in this case, 459 candle that closes in.
498 |356 |00:31:31 ~-~-> 00:31:39 |The final print on that candle comes in at 18,558 even the very next candle at
499 |357 |00:31:39 ~-~-> 00:31:45 |six o'clock, because at our delay where markets are not trading, we open up, and
500 |358 |00:31:45 ~-~-> 00:31:48 |that's the opening price down here. Okay, so that opening price, which you
501 |359 |00:31:48 ~-~-> 00:31:56 |can see at the top of the chart, is 18,005 50.25 so between the difference
502 |360 |00:31:56 ~-~-> 00:32:01 |of where we closed at the five o'clock hour and where we opened at six o'clock,
503 |361 |00:32:01 ~-~-> 00:32:08 |that is what that's your new day opening gap, and since we opened lower than
504 |362 |00:32:08 ~-~-> 00:32:17 |where we closed, that means we have a discount. Lower opening is the
505 |363 |00:32:17 ~-~-> 00:32:23 |difference between this close and this open greater than 20 handles. No, it's
506 |364 |00:32:23 ~-~-> 00:32:28 |literally less than 10. So am I going to draw a line in there? You can if you
507 |365 |00:32:28 ~-~-> 00:32:32 |want to have them on your chart. There's nothing wrong with that, Caleb, but if
508 |366 |00:32:32 ~-~-> 00:32:37 |you are going to follow the rules that I'm teaching on you really shouldn't
509 |367 |00:32:37 ~-~-> 00:32:40 |need to see that line. Your eyeball should say, Okay, we're right about in
510 |368 |00:32:40 ~-~-> 00:32:44 |here, that's that's about the middle or consequent curtain. And then if you can
511 |369 |00:32:44 ~-~-> 00:32:47 |eyeball that, then you can eyeball half of that is the upper quadrant and the
512 |370 |00:32:47 ~-~-> 00:32:51 |lower quadrant. And it's just a matter of doing it okay, you don't have to have
513 |371 |00:32:51 ~-~-> 00:32:55 |every single line on your chart, because otherwise it's going to be a lot. And
514 |372 |00:32:55 ~-~-> 00:33:00 |you don't need a lot. You just need one or two elements to having in mind where
515 |373 |00:33:00 ~-~-> 00:33:04 |you think the price is going to gravitate to, or gyrate around and based
516 |374 |00:33:04 ~-~-> 00:33:06 |on like, for instance, we have the economic calendar today, if you've
517 |375 |00:33:06 ~-~-> 00:33:11 |already done your homework and notice that today there is no medium or high
518 |376 |00:33:11 ~-~-> 00:33:17 |impact news events, none. It's Friday. Also, we've had a large weekly range,
519 |377 |00:33:18 ~-~-> 00:33:22 |and we'll talk about that for TGIF purposes before close as well. So when
520 |378 |00:33:23 ~-~-> 00:33:28 |we have this in here, we're waiting for the market to do what we're waiting for
521 |379 |00:33:28 ~-~-> 00:33:36 |the market to create motion around this new day opening gap. Do not trade
522 |380 |00:33:36 ~-~-> 00:33:41 |initially. Soon as you get the gap noted here, you're not in there trying to
523 |381 |00:33:41 ~-~-> 00:33:47 |trade off of it. Why? Because there's an element of time that has to be referred
524 |382 |00:33:47 ~-~-> 00:33:53 |to first. Because, as I mentioned in ad nauseam, the markets will not move until
525 |383 |00:33:53 ~-~-> 00:34:00 |it's time for them to move, which is algorithmic. Yes, price will gyrate.
526 |384 |00:34:00 ~-~-> 00:34:05 |They may have meaningless, aimless little movements, okay, that I'm not
527 |385 |00:34:05 ~-~-> 00:34:11 |interested in, but when time is now introduced as the factor that's greatest
528 |386 |00:34:11 ~-~-> 00:34:16 |importance. That means at seven o'clock to nine o'clock, that's your Asian
529 |387 |00:34:16 ~-~-> 00:34:23 |session. You can, you can use this new day opening gap now and build it around
530 |388 |00:34:23 ~-~-> 00:34:29 |the element of liquidity. So what does that mean? Well, if you look at how we
531 |389 |00:34:29 ~-~-> 00:34:34 |have the market work and gyrate around, I'm going to maximize just this chart. I
532 |390 |00:34:34 ~-~-> 00:34:37 |know you're over here looking at this stuff like it's some kind of secret
533 |391 |00:34:37 ~-~-> 00:34:40 |weapon. We're going to we're going to have all these lines amplified on the
534 |392 |00:34:40 ~-~-> 00:34:43 |chart. I'll show them all to you. And most of everything that you've seen all
535 |393 |00:34:43 ~-~-> 00:34:48 |week long, nothing's been added except the new day opening gap that was formed
536 |394 |00:34:48 ~-~-> 00:34:53 |for Friday's trading last night at 6pm Eastern Time. There's nothing else over
537 |395 |00:34:53 ~-~-> 00:34:57 |here, so stop looking over here or here. Well, it's, it's the same lines you've
538 |396 |00:34:57 ~-~-> 00:35:03 |been watching all week. But I'm going to maximize this chart here. Here. And I
539 |397 |00:35:03 ~-~-> 00:35:05 |want you to see what we have done.
540 |398 |00:35:10 ~-~-> 00:35:15 |We created a high, and then we had created another high. So what is this
541 |399 |00:35:15 ~-~-> 00:35:20 |high here in relationship to this one? What is that? Caleb, you're gonna you're
542 |400 |00:35:20 ~-~-> 00:35:29 |gonna speak up relative equal high. Okay, so we annotate that. So above this
543 |401 |00:35:29 ~-~-> 00:35:34 |high, there's liquidity in this the form of buy side. You want to be annotating
544 |402 |00:35:34 ~-~-> 00:35:38 |that so that you're gonna be taking screenshots of these types of things
545 |403 |00:35:38 ~-~-> 00:35:43 |after it's happened, you start like this. You don't try to predict them.
546 |404 |00:35:43 ~-~-> 00:35:48 |You're trying to avoid. I need to put this to work right now and see if it
547 |405 |00:35:48 ~-~-> 00:35:54 |works right now. No, you're studying it after it happens. And then you do a walk
548 |406 |00:35:54 ~-~-> 00:35:58 |forward where you're watching price without any button pushing, without any
549 |407 |00:35:58 ~-~-> 00:36:03 |kind of hard opinion. But you're doing it with the expectation of collecting
550 |408 |00:36:03 ~-~-> 00:36:09 |experience watching it. So you're going to be doing it on the top the left, and
551 |409 |00:36:14 ~-~-> 00:36:19 |that's how I like to entertain mine. Okay, so now we have the market that
552 |410 |00:36:19 ~-~-> 00:36:25 |opened at six o'clock. We traded above short term high. You can annotate that
553 |411 |00:36:25 ~-~-> 00:36:31 |as a minor buy side liquidity pool. It drops down, takes out this low. You can
554 |412 |00:36:31 ~-~-> 00:36:34 |annotate that as a minor sell side liquidity pool. But what you're waiting
555 |413 |00:36:34 ~-~-> 00:36:41 |for is, you want to see price. Do two things. You want to see it, leave the
556 |414 |00:36:41 ~-~-> 00:36:46 |new day open gap. You want to see it cross over it and go below it. When it
557 |415 |00:36:46 ~-~-> 00:36:49 |goes below it, you don't want to see it just trade below. For the sake of going
558 |416 |00:36:49 ~-~-> 00:36:53 |below the lowest low it. You want to see a short term low taken. It does that?
559 |417 |00:36:53 ~-~-> 00:36:59 |See that? So what is, what has it done? It set an initial range to build an
560 |418 |00:36:59 ~-~-> 00:37:03 |engineer liquidity. You don't even need to see this one yet, but what we're
561 |419 |00:37:03 ~-~-> 00:37:10 |doing is we're seeing how price now annotated here for you that high, and
562 |420 |00:37:10 ~-~-> 00:37:15 |let's change it to black, because I want it to be different. And we'll do this.
563 |421 |00:37:15 ~-~-> 00:37:15 |I'm
564 |422 |00:37:23 ~-~-> 00:37:31 |it. If you hold down Control and click on the line or thing that you want to
565 |423 |00:37:31 ~-~-> 00:37:35 |copy, don't do it on a little button here. You gotta do it somewhere over
566 |424 |00:37:35 ~-~-> 00:37:39 |here, and then drag your mouse away from it. It'll copy it for you. I learned
567 |425 |00:37:39 ~-~-> 00:37:43 |that from my students about mine. Most of everything I learned on trading view
568 |426 |00:37:43 ~-~-> 00:37:52 |is all from students. So this is a little minor. That's a minor short term.
569 |427 |00:37:52 ~-~-> 00:38:03 |So it would look like this minor short term. Buy some and you like that real
570 |428 |00:38:03 ~-~-> 00:38:09 |little. And again, on the top left, okay, and the same thing with this down
571 |429 |00:38:09 ~-~-> 00:38:13 |here. You're going to hold down Control. Drag from the middle of the line. It'll
572 |430 |00:38:13 ~-~-> 00:38:23 |copy it, and you put that right there. Drag through a little bit, and now you
573 |431 |00:38:23 ~-~-> 00:38:30 |want to make sure that that's underneath it, so that's below, so bottom left, and
574 |432 |00:38:30 ~-~-> 00:38:34 |my change up the cell side, because that's what's below old lows. Cell side
575 |433 |00:38:34 ~-~-> 00:38:40 |below it, by side above it. Okay. So what that does is it helps annotate your
576 |434 |00:38:40 ~-~-> 00:38:45 |chart, and when you refer back to it, what I'm doing there is I'm holding down
577 |435 |00:38:45 ~-~-> 00:38:53 |shift that way. I'm keeping the line straight. It keeps everything nice and
578 |436 |00:38:53 ~-~-> 00:38:59 |neat. You might want to make that font and text size larger, but for me, I like
579 |437 |00:38:59 ~-~-> 00:39:01 |that because I don't want so much attention drawn on it. I just want you
580 |438 |00:39:01 ~-~-> 00:39:04 |to know that that's these are the types of things I want to see in your chart,
581 |439 |00:39:04 ~-~-> 00:39:07 |around the openings, okay? Or the times I'm teaching you to focus on, like the
582 |440 |00:39:07 ~-~-> 00:39:10 |seven o'clock in the morning to eight o'clock in the morning to nine o'clock
583 |441 |00:39:10 ~-~-> 00:39:13 |in the morning, morning session. Since that's your time, you're gonna be
584 |442 |00:39:13 ~-~-> 00:39:17 |looking for the same event there. Okay, so this is amplifying what's already
585 |443 |00:39:17 ~-~-> 00:39:23 |been taught in this week's live stream, but I'm applying it to this time of this
586 |444 |00:39:23 ~-~-> 00:39:26 |time of day. For the folks that can only trade this time of day, they may not be
587 |445 |00:39:26 ~-~-> 00:39:31 |able to do what you're going to be doing or trade at all, except for this time.
588 |446 |00:39:31 ~-~-> 00:39:35 |So this is, this is Agent session trading. This stuff works for forex too.
589 |447 |00:39:35 ~-~-> 00:39:40 |So don't think that it's just a one trick pony. For indices. This is exactly
590 |448 |00:39:40 ~-~-> 00:39:45 |what you'll be, you'll be doing the same thing in forex. Okay, I don't trade
591 |449 |00:39:45 ~-~-> 00:39:50 |crypto. I don't know. I've never investigated because I don't care to
592 |450 |00:39:50 ~-~-> 00:39:54 |trade crypto. And I'll, I'll never do it. I know a lot of people are still
593 |451 |00:39:54 ~-~-> 00:39:59 |asking about that, but we have a short term sell side liquidity pool below
594 |452 |00:39:59 ~-~-> 00:40:04 |here. I. And we have a short term buy side look pretty cool here at six
595 |453 |00:40:04 ~-~-> 00:40:08 |o'clock. And then we have the new day opening gap. So we have new day opening
596 |454 |00:40:08 ~-~-> 00:40:13 |gap. And what we're watching at that very moment is, you want to see it trade
597 |455 |00:40:13 ~-~-> 00:40:16 |away from it, which is it? Which it does? Is it going somewhere randomly?
598 |456 |00:40:16 ~-~-> 00:40:22 |No, it's just going in here to do what it sets an initial range for building an
599 |457 |00:40:22 ~-~-> 00:40:25 |engineering liquidity that means now there are going to be buy stops that
600 |458 |00:40:25 ~-~-> 00:40:30 |form right above this high. So this is what you're going to have in your chart.
601 |459 |00:40:42 ~-~-> 00:40:49 |I'm and on the bottom here.
602 |460 |00:40:55 ~-~-> 00:41:00 |And some of you are like, Man, this is a lot of lot of stuff to be doing, and I
603 |461 |00:41:00 ~-~-> 00:41:04 |ain't making money yet. Well, if you don't want to do this, go trade
604 |462 |00:41:04 ~-~-> 00:41:10 |indicators and check back with me in six months and tell me how you doing. I know
605 |463 |00:41:10 ~-~-> 00:41:17 |you'll be watching these videos, and I stress this out just a little bit more
606 |464 |00:41:17 ~-~-> 00:41:32 |because conflicting. So now we have that on the wrong line, sorry. So what we've
607 |465 |00:41:32 ~-~-> 00:41:36 |done is we've taken out this short term low, and we created an initial sell side
608 |466 |00:41:36 ~-~-> 00:41:39 |liquidity pool, and we went above this short term height and we created an
609 |467 |00:41:39 ~-~-> 00:41:44 |initial buy side liquidity pool, okay, why is that classified like that? Why am
610 |468 |00:41:44 ~-~-> 00:41:48 |I labeling that high, and why am I labeling this low? And why is it initial
611 |469 |00:41:48 ~-~-> 00:41:54 |buy side and initial sell side? Because we've opened a new day at six o'clock.
612 |470 |00:41:54 ~-~-> 00:41:59 |We created the inefficiency that is the new day opening gap. It's moved away.
613 |471 |00:41:59 ~-~-> 00:42:02 |That's the first thing we're looking for. It needs to move away from it. It
614 |472 |00:42:02 ~-~-> 00:42:07 |does. So what is it going to do? It takes out the short term buy side. Does
615 |473 |00:42:07 ~-~-> 00:42:11 |it go back now below the new day of being gap? Yes. Why? Because the
616 |474 |00:42:11 ~-~-> 00:42:16 |algorithm is calibrating and setting and which is this is visually representing
617 |475 |00:42:16 ~-~-> 00:42:20 |how the algorithm engineers liquidity. It takes a short term pool of liquidity
618 |476 |00:42:20 ~-~-> 00:42:26 |out, and then goes the opposing side below this low. Now there's a new low
619 |477 |00:42:27 ~-~-> 00:42:34 |and a new high. After six o'clock. You see that this is the initial high and
620 |478 |00:42:34 ~-~-> 00:42:39 |the low that every trader that trades at that moment is going to refer to, for
621 |479 |00:42:39 ~-~-> 00:42:45 |where their stop loss is going to be, so this is no longer a factor. So while
622 |480 |00:42:45 ~-~-> 00:42:49 |that's important to have on your chart for the purpose of learning, you want to
623 |481 |00:42:49 ~-~-> 00:42:55 |kind of keep it muted. Don't don't have it so prominent in the chart.
624 |482 |00:43:01 ~-~-> 00:43:08 |So the same thing down here. But you do want to have it initially as a
625 |483 |00:43:08 ~-~-> 00:43:12 |screenshot while it's doing this, when it runs up here like this, when it does
626 |484 |00:43:12 ~-~-> 00:43:18 |that screenshot, it and then later on, if it rolls down and take out that low
627 |485 |00:43:18 ~-~-> 00:43:23 |screenshot, it again. Because you want to see these screenshots as they go to
628 |486 |00:43:23 ~-~-> 00:43:27 |the levels of interest. But this, it should do that. Now, what happens if it
629 |487 |00:43:27 ~-~-> 00:43:31 |did this? If it was in here and it went down there first and it took out that
630 |488 |00:43:31 ~-~-> 00:43:34 |low? Okay, you would screenshot it as it happens, and then you would anticipate
631 |489 |00:43:34 ~-~-> 00:43:39 |it running above this high. And what you would do, you know, classically, it will
632 |490 |00:43:39 ~-~-> 00:43:43 |do that. There are times when we start the new day at six o'clock and it'll
633 |491 |00:43:43 ~-~-> 00:43:47 |just dilly dally around and do nothing, and it won't even bump above or below.
634 |492 |00:43:47 ~-~-> 00:43:51 |If it doesn't do that, don't worry about it. That's typically telling you that
635 |493 |00:43:51 ~-~-> 00:43:54 |Asia is going to be dull. It's not going to do anything. It's probably a good day
636 |494 |00:43:54 ~-~-> 00:43:59 |for you to just go watch a movie with your spouse, or go exercise and then go
637 |495 |00:43:59 ~-~-> 00:44:03 |to bed early and get arrested for your work day tomorrow, but you want to be
638 |496 |00:44:03 ~-~-> 00:44:10 |doing things with a purpose of knowing that it's going to fit the
639 |497 |00:44:10 ~-~-> 00:44:15 |characteristics that are synonymous with the market, making a sizable move that's
640 |498 |00:44:15 ~-~-> 00:44:19 |predictable. And if it's this real lethargic and lackluster at six o'clock,
641 |499 |00:44:19 ~-~-> 00:44:22 |and it doesn't really do anything going into seven o'clock, because that's your
642 |500 |00:44:22 ~-~-> 00:44:28 |key time. Seven o'clock starts the Asian session, and you think it's just for us.
643 |501 |00:44:28 ~-~-> 00:44:35 |No, these markets are ran through artificial intelligence, and sometimes
644 |502 |00:44:35 ~-~-> 00:44:39 |they're tweaked a little bit manually to cause a little bit more excitement or to
645 |503 |00:44:39 ~-~-> 00:44:44 |disrupt something. Okay, so now we have initial sell side liquidity for the day
646 |504 |00:44:45 ~-~-> 00:44:50 |and initial buy side liquidity for the day outside of those two reference
647 |505 |00:44:50 ~-~-> 00:44:53 |points. Then you look to the left and say, Okay, where are the larger pool of
648 |506 |00:44:53 ~-~-> 00:45:00 |liquidity? Well, obviously it's here. So if we have that once we. Broke through
649 |507 |00:45:00 ~-~-> 00:45:04 |here. We have to see it do another characteristic with the new day opening
650 |508 |00:45:04 ~-~-> 00:45:09 |gap. We have to move away from it initially, go to a short term high to
651 |509 |00:45:09 ~-~-> 00:45:14 |take liquidity out, which it does here, and then drops down below, crossing over
652 |510 |00:45:14 ~-~-> 00:45:17 |the new day opening gap. So this is where you want to see it coloring
653 |511 |00:45:17 ~-~-> 00:45:22 |outside the lines. Okay, so many times I've introduced ideas and talk about
654 |512 |00:45:22 ~-~-> 00:45:26 |specific PD arrays. And when I tell people annotate this level and take that
655 |513 |00:45:26 ~-~-> 00:45:30 |level, this is a fair value gap. This is an inversion fair value gap. This is,
656 |514 |00:45:30 ~-~-> 00:45:34 |you know, something else. And soon as someone that's watching it sees it cross
657 |515 |00:45:34 ~-~-> 00:45:37 |through, they think, aha, it didn't even hold he thought, you have no idea what
658 |516 |00:45:37 ~-~-> 00:45:39 |the fuck you're talking about. You have no idea what you're talking about. And
659 |517 |00:45:39 ~-~-> 00:45:43 |this is the stuff that pisses me off, because they they can't wait to do that.
660 |518 |00:45:43 ~-~-> 00:45:47 |I gotcha. I'm gonna go on social media See what I did here. Did it wrong, and
661 |519 |00:45:47 ~-~-> 00:45:52 |try to make videos and bullshit. This is the logic behind it. Okay? You want to
662 |520 |00:45:52 ~-~-> 00:45:56 |see it trade away from the New Day opening gap as it formed. And if it goes
663 |521 |00:45:56 ~-~-> 00:45:59 |up, it's taking a short term high out. And then you want to see it cross back
664 |522 |00:45:59 ~-~-> 00:46:04 |over it and seek a short term low, which is what it's doing here. Once it does
665 |523 |00:46:04 ~-~-> 00:46:09 |that and it crosses back into it again, we have now set initial buy side
666 |524 |00:46:09 ~-~-> 00:46:13 |liquidity and initial sell side liquidity. Now you're going to wait.
667 |525 |00:46:13 ~-~-> 00:46:18 |What are you waiting for? ICT, when's the when's the time of day for Asia,
668 |526 |00:46:18 ~-~-> 00:46:24 |seven o'clock. Okay, go here to the vertical line. Does this seem
669 |527 |00:46:24 ~-~-> 00:46:28 |complicated yet? Let me know. Let me know if this is complicated. Okay,
670 |528 |00:46:28 ~-~-> 00:46:33 |because this is really simple stuff. Really, really simple stuff. So now we
671 |529 |00:46:33 ~-~-> 00:46:41 |have what happened. The market crosses back above New Day opening debt. Does it
672 |530 |00:46:41 ~-~-> 00:46:48 |take out the low here, right there, as we're heading into, as we're heading
673 |531 |00:46:48 ~-~-> 00:46:54 |into seven o'clock? What is it doing? Is it moving to this low to challenge this
674 |532 |00:46:54 ~-~-> 00:46:59 |cell, solid covid? Absolutely not. So. What is it doing here, energetically,
675 |533 |00:46:59 ~-~-> 00:47:06 |here? What is it doing upside? Right, so it's crossing over the new day opening
676 |534 |00:47:06 ~-~-> 00:47:12 |gap, and then at seven o'clock. What does it do on the seven, seven o'clock
677 |535 |00:47:12 ~-~-> 00:47:17 |candle, look close. Let me. Let me take this away for a second. What do you see?
678 |536 |00:47:17 ~-~-> 00:47:22 |It dips back into just slightly. It retests. It re trades to the new day
679 |537 |00:47:22 ~-~-> 00:47:27 |opening gap that was formed right over here. You see it touching that. So if
680 |538 |00:47:27 ~-~-> 00:47:32 |it's going to go back to that after having displacement here, it's already
681 |539 |00:47:32 ~-~-> 00:47:37 |set the initial boundaries for the cell stops in the buy stops. So the algorithm
682 |540 |00:47:37 ~-~-> 00:47:43 |is given the signal right here. Now we're touching, we're inside the element
683 |541 |00:47:43 ~-~-> 00:47:45 |of time. Dave,
684 |542 |00:47:50 ~-~-> 00:47:58 |so the market should displace above this high relative equal highs challenge the
685 |543 |00:47:58 ~-~-> 00:48:04 |initial buy side liquidity, and we'll test and hold to see if they can run
686 |544 |00:48:04 ~-~-> 00:48:08 |above this high. Now, you know, because you sat with me last night, we actually
687 |545 |00:48:09 ~-~-> 00:48:13 |did this. We actually traded it. We pushed the button, and there it is. But
688 |546 |00:48:13 ~-~-> 00:48:17 |I'm going to show you the logic behind this. That way you as a individual that
689 |547 |00:48:17 ~-~-> 00:48:21 |wants to trade the agent session. This is the protocol. This is the guidance.
690 |548 |00:48:21 ~-~-> 00:48:26 |This is the step by step. This is what you do. This is all you do every single
691 |549 |00:48:26 ~-~-> 00:48:30 |day. You're looking for these signatures, these characteristics, if
692 |550 |00:48:30 ~-~-> 00:48:33 |they don't do these things, guess what? You don't do? You don't push a button,
693 |551 |00:48:33 ~-~-> 00:48:37 |you don't trade it. You don't have high expectations, but you still study it. Is
694 |552 |00:48:37 ~-~-> 00:48:41 |that clear? Yes, sir. Okay, not that you're going to be trading this time of
695 |553 |00:48:41 ~-~-> 00:48:44 |day, but I have to make sure that it's the same way for you when you're doing
696 |554 |00:48:44 ~-~-> 00:48:48 |it in the New York session. So at seven o'clock you're gonna be studying and
697 |555 |00:48:48 ~-~-> 00:48:52 |looking price, looking at price, to do these same things. So if we look at how
698 |556 |00:48:52 ~-~-> 00:48:57 |the price opens on this candle, it drops back down and touches and re trades to
699 |557 |00:48:57 ~-~-> 00:49:03 |the high of that new day opening gap. So everything's in motion. Everything is
700 |558 |00:49:03 ~-~-> 00:49:09 |set. We did not have a interest in going back below the initial sell side
701 |559 |00:49:09 ~-~-> 00:49:15 |liquidity that took out this flow. The key things are this. We're gyrating
702 |560 |00:49:15 ~-~-> 00:49:20 |around the new day, opening gap. You want to see this, but when it comes to
703 |561 |00:49:20 ~-~-> 00:49:28 |time seven o'clock is your time in Asia, the the algorithm will will come online,
704 |562 |00:49:28 ~-~-> 00:49:34 |and you'll see buy programs and sell programs begin right at seven o'clock,
705 |563 |00:49:34 ~-~-> 00:49:39 |or just after it okay, and you're only really interested in until, until nine
706 |564 |00:49:39 ~-~-> 00:49:43 |o'clock. So if you're a working class hero in the United States, or if you're
707 |565 |00:49:43 ~-~-> 00:49:49 |overseas and you want to trade in this time of day, your key times are 7pm New
708 |566 |00:49:49 ~-~-> 00:49:55 |York local time to 9pm New York local time. So it's a small little window of
709 |567 |00:49:55 ~-~-> 00:50:00 |focus. You don't have a whole long you know, it's not four hours. A it's a very
710 |568 |00:50:00 ~-~-> 00:50:05 |small segment of time, and I want you to go through your charts, and I want you
711 |569 |00:50:05 ~-~-> 00:50:08 |to annotate these things, not you Caleb, but everyone else that may have an
712 |570 |00:50:08 ~-~-> 00:50:13 |interest in this. Even if you don't want to trade this type of or time of day,
713 |571 |00:50:13 ~-~-> 00:50:17 |it's beneficial for you to log this, because you're going to see things that
714 |572 |00:50:17 ~-~-> 00:50:21 |will further prove that the markets are algorithmic, and they're, they're
715 |573 |00:50:21 ~-~-> 00:50:26 |operating on the things I'm teaching you that they do. Okay, so anyway, the down
716 |574 |00:50:26 ~-~-> 00:50:29 |close candle in here, it trades down touch at the top of the day, opening
717 |575 |00:50:29 ~-~-> 00:50:33 |gap. And now, because it's, it's seven o'clock, it's proven that it's not going
718 |576 |00:50:33 ~-~-> 00:50:37 |to go down here. It hasn't have interest in it. And this run here, this right
719 |577 |00:50:37 ~-~-> 00:50:44 |here, that is indicative that it wants to run. So because it's doing this, this
720 |578 |00:50:44 ~-~-> 00:50:50 |buy side and balance cell sign efficiency, I would have no interest, as
721 |579 |00:50:50 ~-~-> 00:50:53 |you saw last night, I'm not interested in seeing come back down into that gap.
722 |580 |00:50:53 ~-~-> 00:50:57 |So what does that make this gap? It makes it a breakaway gap. And so if it's
723 |581 |00:50:57 ~-~-> 00:51:02 |going to break away from running higher and not going lower. What's it going to
724 |582 |00:51:02 ~-~-> 00:51:07 |seek this short term high I want to see. Does it have momentum and speed in which
725 |583 |00:51:07 ~-~-> 00:51:13 |it takes that relative equal high out this high in this high, when it trades
726 |584 |00:51:13 ~-~-> 00:51:17 |there, which it does right there, it pops through it real quick and then
727 |585 |00:51:17 ~-~-> 00:51:26 |comes back. Half of this range consolidates around it, boom, runs into
728 |586 |00:51:26 ~-~-> 00:51:32 |initial buy side liquidity. So now I want to see this. Treat it as rocket
729 |587 |00:51:32 ~-~-> 00:51:38 |fuel. You ever see those guys that have their funny cars and they have nitrous
730 |588 |00:51:38 ~-~-> 00:51:43 |oxide? You want to see the nitrous oxide button pressed in price action. Right
731 |589 |00:51:43 ~-~-> 00:51:46 |when it does that, you don't want to see it go up and then go right back in.
732 |590 |00:51:46 ~-~-> 00:51:51 |Because what that was is, it's a fade. That's your turtle suit. It's a fake
733 |591 |00:51:51 ~-~-> 00:51:57 |out. What we're looking for is we want to see like a nitrous oxide injection of
734 |592 |00:51:57 ~-~-> 00:52:02 |strength, speed, when dad does the recordings when I'm trading. And I'll
735 |593 |00:52:02 ~-~-> 00:52:06 |type out and say, I want to see speed and magnitude. I want to see distance.
736 |594 |00:52:06 ~-~-> 00:52:11 |That's because I'm I'm expecting these elements in price action at that moment,
737 |595 |00:52:11 ~-~-> 00:52:17 |at that moment, I want to see that being visible in price. And you can see it
738 |596 |00:52:17 ~-~-> 00:52:21 |happening here. And then we gap up where this candle close. It gapped up here.
739 |597 |00:52:21 ~-~-> 00:52:28 |When we trade back down into that right there, that is an entry as well. And
740 |598 |00:52:28 ~-~-> 00:52:32 |you'll see those things as we start going through the charts live. I'll
741 |599 |00:52:32 ~-~-> 00:52:37 |point them out to you. And when we take screenshots this, this is an actual
742 |600 |00:52:37 ~-~-> 00:52:44 |wonderful buy. And then we start to roll up here. Then we see the classic volume
743 |601 |00:52:44 ~-~-> 00:52:48 |and balance retreat to it there, and that's another body. And then you had
744 |602 |00:52:48 ~-~-> 00:52:52 |this big pop here, which we watched happen. I mean, we both were like, yeah,
745 |603 |00:52:52 ~-~-> 00:53:00 |yes, well, it runs out there. And took the buy side here. So visually, I now
746 |604 |00:53:04 ~-~-> 00:53:07 |you can see how in this candle, I'll put that right over top it. You can see the
747 |605 |00:53:07 ~-~-> 00:53:12 |entry right there, and what I was aiming for, as I wanted to watch when it opened
748 |606 |00:53:12 ~-~-> 00:53:16 |and traded down. I wanted to see it get below the body of that down closed
749 |607 |00:53:16 ~-~-> 00:53:21 |candle. I don't care where in the spectrum of that wick, because that's a
750 |608 |00:53:21 ~-~-> 00:53:28 |discount wick. I'm buying that order block because I understand it's an order
751 |609 |00:53:28 ~-~-> 00:53:32 |block. Everybody else will simply say, Well, you got to look to buy the down
752 |610 |00:53:32 ~-~-> 00:53:36 |closed candles. And that just shows that they only listen to my very first
753 |611 |00:53:36 ~-~-> 00:53:39 |introduction to an order block, because they don't understand what an order
754 |612 |00:53:39 ~-~-> 00:53:44 |block is. So I want to be in the discount element of that down close
755 |613 |00:53:44 ~-~-> 00:53:48 |candle. And I want to be entering below its body. In this case, it's the close.
756 |614 |00:53:48 ~-~-> 00:53:51 |So if you look up here in the upper left hand corner, you see the close. It says
757 |615 |00:53:51 ~-~-> 00:53:58 |18,005 60.00 Yes, sir. I want to be buying below that, at it, or below it.
758 |616 |00:53:58 ~-~-> 00:54:06 |And my entry was 550, 9.75 9.75 so that's pretty good, and then it rallies.
759 |617 |00:54:07 ~-~-> 00:54:11 |And when you have this break like this, your stop loss has to be below the
760 |618 |00:54:11 ~-~-> 00:54:15 |consequence of the new day opening gap, which is what you got, which what you
761 |619 |00:54:15 ~-~-> 00:54:18 |watched me do last night. So for the folks are saying, where would your stop
762 |620 |00:54:18 ~-~-> 00:54:22 |loss be? Because we gapped up like this. And we've already done this. Watch what
763 |621 |00:54:22 ~-~-> 00:54:25 |we've done. We've opened here. We created the new day opening gap. We took
764 |622 |00:54:25 ~-~-> 00:54:29 |short term liquidity here, took short term liquidity here, and then we cross
765 |623 |00:54:29 ~-~-> 00:54:33 |back over top of New Day opening gap, and then cross back down below it. And
766 |624 |00:54:33 ~-~-> 00:54:36 |then we now we have this displacement ahead of seven o'clock. You see that,
767 |625 |00:54:36 ~-~-> 00:54:42 |folks, you see how that element of just, it's it's letting everybody know that
768 |626 |00:54:42 ~-~-> 00:54:46 |sees price with this understanding. You're not supposed to know this. I'm
769 |627 |00:54:46 ~-~-> 00:54:51 |not supposed to be teaching it really. But these are the like the little
770 |628 |00:54:51 ~-~-> 00:54:55 |Hallmark signatures that okay, it's about to happen. So now we have to
771 |629 |00:54:55 ~-~-> 00:54:59 |reference these completely random levels when you do opening gap, something
772 |630 |00:54:59 ~-~-> 00:55:04 |that's been. Into revamped by somebody else, that nobody has an identification
773 |631 |00:55:04 ~-~-> 00:55:09 |on. Nobody's there to pick the $5 million up for me, having been exposed
774 |632 |00:55:09 ~-~-> 00:55:12 |as this is where he copied it from, Wyckoff, has no idea what the we're
775 |633 |00:55:12 ~-~-> 00:55:17 |talking about here. If he was, he's my student. This touch of that high of The
776 |634 |00:55:17 ~-~-> 00:55:22 |New Day opening, that that's your trigger, but I want to get in there
777 |635 |00:55:22 ~-~-> 00:55:26 |right as it's trading back to that wick, which we're going to talk about wicks as
778 |636 |00:55:26 ~-~-> 00:55:32 |gaps today. Also, the market has immediate feedback and tells me I'm on
779 |637 |00:55:32 ~-~-> 00:55:37 |side. I don't need to worry about anything now. And soon as we take out
780 |638 |00:55:37 ~-~-> 00:55:43 |this high here, the stock goes to break even, or the very minimum, it has to be
781 |639 |00:55:43 ~-~-> 00:55:48 |at the top of the new day opening guy, and you don't, you don't chase it. You
782 |640 |00:55:48 ~-~-> 00:55:52 |see me rush my stop loss. I mean, you just relax and let it happen. So the
783 |641 |00:55:52 ~-~-> 00:55:57 |market gives us two qualifying, comfortable, like consoling, like it's
784 |642 |00:55:57 ~-~-> 00:56:02 |okay, don't worry about it. It's coming. Because we see the displacement here,
785 |643 |00:56:02 ~-~-> 00:56:06 |and when we see the displacement, every displacement does not have to see it
786 |644 |00:56:06 ~-~-> 00:56:12 |trade back down into it's better. It's better for your trades to not see them
787 |645 |00:56:12 ~-~-> 00:56:17 |return into buy, sign and balance sales on efficiency at all. That's what you
788 |646 |00:56:17 ~-~-> 00:56:19 |really, really want to see. Okay,
789 |647 |00:56:21 ~-~-> 00:56:25 |if it has the interest to go back into it, that is indicating that the if the
790 |648 |00:56:25 ~-~-> 00:56:27 |moves coming, it's being deferred, and you're gonna have to sit through a
791 |649 |00:56:27 ~-~-> 00:56:31 |period of uncomfortable waiting and maybe a little bit of drawdown or
792 |650 |00:56:31 ~-~-> 00:56:34 |chopping it around before it takes off. I don't like those types of trades,
793 |651 |00:56:35 ~-~-> 00:56:38 |which is why I like to look at the market when it creates these types of
794 |652 |00:56:39 ~-~-> 00:56:43 |characteristics where it's really indicating that a it's, it's, it's about
795 |653 |00:56:43 ~-~-> 00:56:48 |the pop. It's doing exactly what I want to do. We can time it, because the
796 |654 |00:56:48 ~-~-> 00:56:53 |market operates on time, not price first. It's time first. And you have to
797 |655 |00:56:53 ~-~-> 00:56:58 |know what these elements of time are and why they're a factor. Otherwise, every
798 |656 |00:56:58 ~-~-> 00:57:03 |Mickey Mouse bullshit indicator, or even my stuff apply at the wrong times, isn't
799 |657 |00:57:03 ~-~-> 00:57:07 |going to work. So you have to have these elements of time determined ahead of
800 |658 |00:57:07 ~-~-> 00:57:12 |time, and it has to be your, your your central focal point for your model. If
801 |659 |00:57:12 ~-~-> 00:57:16 |you can't, if you can't arrive at that as Okay, that makes a lot of sense, then
802 |660 |00:57:16 ~-~-> 00:57:19 |you're going to struggle. You're not going to have any success with this.
803 |661 |00:57:19 ~-~-> 00:57:22 |You're going to think it's all contrived as much as I keep showing it and proving
804 |662 |00:57:22 ~-~-> 00:57:27 |it, it'll still just be he's lucky, or it's just, it just happened to be
805 |663 |00:57:27 ~-~-> 00:57:31 |randomly in his favor that day. And it's, you know, anybody can make excuses
806 |664 |00:57:31 ~-~-> 00:57:35 |for not wanting to do it, but no one can make an excuse and say it's random
807 |665 |00:57:35 ~-~-> 00:57:38 |because it's absolutely following the logic that I've been teaching for
808 |666 |00:57:38 ~-~-> 00:57:46 |decades. So there's our entry, and then we want to aim for something above this
809 |667 |00:57:46 ~-~-> 00:57:50 |buy side liquidity pool, because if we know that it's likely to trade up above
810 |668 |00:57:50 ~-~-> 00:57:55 |it, you know, how can we arrive at a target that is close to it? Well, what
811 |669 |00:57:55 ~-~-> 00:58:00 |was the what was the leg of price prior to this run up that's going the other
812 |670 |00:58:00 ~-~-> 00:58:05 |direction. Can you see it's this high down to that low? So in other words, we
813 |671 |00:58:05 ~-~-> 00:58:08 |had this movement like a kind of like a slingshot or a catapult. Price is
814 |672 |00:58:08 ~-~-> 00:58:14 |winding back, and then it takes off and runs for you see that? So we can take
815 |673 |00:58:14 ~-~-> 00:58:19 |this price leg here to that low, and we can get some measurements to get a
816 |674 |00:58:19 ~-~-> 00:58:26 |baseline for range finding. So if I'm interested in a run that goes above this
817 |675 |00:58:26 ~-~-> 00:58:31 |high here, okay, once we have indications that we have this high taken
818 |676 |00:58:31 ~-~-> 00:58:36 |out, which is what we get there, that's the second qualifier that really builds
819 |677 |00:58:36 ~-~-> 00:58:39 |the confidence that this trade is going to be a runner. In other words, you
820 |678 |00:58:39 ~-~-> 00:58:44 |shouldn't have no anxiety at all at the trade not panning out, because we had
821 |679 |00:58:44 ~-~-> 00:58:48 |this ahead of time rate going into seven o'clock. We already worked above and
822 |680 |00:58:48 ~-~-> 00:58:54 |below the new day opening gap. We kept initial sell side in play there, and now
823 |681 |00:58:54 ~-~-> 00:58:57 |we refer back to this one. So this is the buy side. So that's where your
824 |682 |00:58:57 ~-~-> 00:59:02 |initial interest is. Do we have the momentum and interest of power through
825 |683 |00:59:02 ~-~-> 00:59:05 |that, because it could have very easily done this. It could have went above it
826 |684 |00:59:05 ~-~-> 00:59:08 |and then started to break down, and that would have been simply a losing trade.
827 |685 |00:59:08 ~-~-> 00:59:13 |And there's nothing to be afraid of with that, but it's not likely to do that if
828 |686 |00:59:13 ~-~-> 00:59:18 |you have something like this, where it starts running energetically, proving
829 |687 |00:59:18 ~-~-> 00:59:22 |that that low is now not interested to take out that well, and now the buy side
830 |688 |00:59:22 ~-~-> 00:59:27 |here and here and here is where we're focusing on, because the Johnny come
831 |689 |00:59:27 ~-~-> 00:59:30 |lately that didn't trade yesterday and they weren't bullish, they're trying to
832 |690 |00:59:30 ~-~-> 00:59:33 |get involved. They're trying to get on board, because now the market started
833 |691 |00:59:33 ~-~-> 00:59:36 |trading at six o'clock, and they're trying to buy anything that gives them a
834 |692 |00:59:36 ~-~-> 00:59:42 |reason to be long. So I want to capitalize on that and know that any
835 |693 |00:59:42 ~-~-> 00:59:47 |rallies that it forms is going to be short lived, so I have to know
836 |694 |00:59:47 ~-~-> 00:59:52 |beforehand, where are my exit points. So how far can it run up above this buy
837 |695 |00:59:52 ~-~-> 00:59:56 |side liquidity? Well, we're range finding by taking the FIB from here to
838 |696 |00:59:56 ~-~-> 00:59:59 |here, and all we're doing is measuring the distance between that low and that
839 |697 |00:59:59 ~-~-> 01:00:05 |high. I and then duplicating it, okay, going up one measurement of that and in
840 |698 |01:00:05 ~-~-> 01:00:09 |a half, which is why we have that standard deviation there of one that's
841 |699 |01:00:09 ~-~-> 01:00:17 |negative 1.5 so what that is, is this range from high to low times 1.5 so it's
842 |700 |01:00:17 ~-~-> 01:00:20 |you get a baseline. In other words, let me show it to you like this. If I do
843 |701 |01:00:20 ~-~-> 01:00:25 |this and show you just negative one, what that will be is a perfect, measured
844 |702 |01:00:25 ~-~-> 01:00:31 |move. So in other words, it's from the low to this high. Perfect duplication
845 |703 |01:00:31 ~-~-> 01:00:36 |added to this high would be here. Okay, so that that would be, that would be a
846 |704 |01:00:36 ~-~-> 01:00:40 |good place. You need to take a partial. If we had more than one contract on, we
847 |705 |01:00:40 ~-~-> 01:00:45 |could have took a partial there and had a limit order to sell there and then aim
848 |706 |01:00:45 ~-~-> 01:00:52 |up here. But because of this idea of this is where it can color beyond my
849 |707 |01:00:52 ~-~-> 01:00:58 |expectation of just going above that high. This is one standard deviation. So
850 |708 |01:00:58 ~-~-> 01:01:03 |what I do is I like to find the midpoint between that. So if I do something like
851 |709 |01:01:03 ~-~-> 01:01:08 |this, I'm just going to eyeball it real close. Okay, if I know that, this is
852 |710 |01:01:08 ~-~-> 01:01:13 |where the midpoint of both targets are. So if this is one standard deviation,
853 |711 |01:01:13 ~-~-> 01:01:22 |I'm sorry, one standard deviation, and then we have negative 1.5 it's affording
854 |712 |01:01:22 ~-~-> 01:01:30 |me the ability to see where targets could fall. And I don't have to be
855 |713 |01:01:30 ~-~-> 01:01:34 |perfect about getting the actual eye, even though it does trade up there. And
856 |714 |01:01:34 ~-~-> 01:01:39 |when you first saw the Fibonacci laid on top, it looks like, wow, but you can see
857 |715 |01:01:39 ~-~-> 01:01:45 |my price exit was 607 in the hand, which is just above, it's just above half way
858 |716 |01:01:46 ~-~-> 01:01:53 |so that. So we have negative, negative one, which is a full measurement of this
859 |717 |01:01:53 ~-~-> 01:02:00 |high to that low. Let me show you to graphically also. So it's this range
860 |718 |01:02:00 ~-~-> 01:02:06 |here. You take that and you add it to the high right there, and you see,
861 |719 |01:02:06 ~-~-> 01:02:09 |that's what that is. So you can see, I'm taking that little block of price action
862 |720 |01:02:09 ~-~-> 01:02:13 |from this high down there, and I'm thinking that of that as a block of
863 |721 |01:02:13 ~-~-> 01:02:18 |price action that if it's going to go higher, and it has, typically always,
864 |722 |01:02:18 ~-~-> 01:02:22 |it's very easy to have a very low threshold targeting methodology based
865 |723 |01:02:22 ~-~-> 01:02:25 |around measured moves. And that's, this is the classic measured move
866 |724 |01:02:25 ~-~-> 01:02:30 |perspective. But I don't like that, because everybody Tom Dick and Harry is
867 |725 |01:02:30 ~-~-> 01:02:34 |thinking that way. And I know that while that's that's meeting the criteria of
868 |726 |01:02:34 ~-~-> 01:02:39 |getting above this high for this sake of trading into those buy stops, I want to
869 |727 |01:02:39 ~-~-> 01:02:45 |have the next tier in precision. So I want to know where is it really likely
870 |728 |01:02:45 ~-~-> 01:02:51 |to trade to. So if I get a negative 1.5 I'm I'm getting yes this range, but I'm
871 |729 |01:02:51 ~-~-> 01:02:57 |also aiming for kind of like extrapolation where it just gets really
872 |730 |01:02:57 ~-~-> 01:03:01 |ahead of itself and just gets animated way beyond everybody else. I mean, like
873 |731 |01:03:01 ~-~-> 01:03:03 |we said last night, we were watching, like, what? Watching, like, Whoa, that
874 |732 |01:03:03 ~-~-> 01:03:06 |thing really took off for Asia. It was really fun. It usually isn't that
875 |733 |01:03:06 ~-~-> 01:03:11 |eventful. But when it popped up there like that, what I had done was I looked
876 |734 |01:03:11 ~-~-> 01:03:17 |at the negative one and negative 1.5 and in between that, okay, that was kind of
877 |735 |01:03:17 ~-~-> 01:03:21 |like what I was aiming for, which is like 1.05 something. And I was thinking,
878 |736 |01:03:21 ~-~-> 01:03:26 |Okay, well, I know it's likely, it's very likely, to trade up here, but what
879 |737 |01:03:26 ~-~-> 01:03:30 |happens if I don't get my limit? You've watched me before where I'm putting
880 |738 |01:03:30 ~-~-> 01:03:34 |trades on and and they give me the price that should fill me, and it don't film
881 |739 |01:03:34 ~-~-> 01:03:39 |me. So because I'm trying to be too precise, so the way I trade, I want to
882 |740 |01:03:39 ~-~-> 01:03:45 |be in that little gray area, which would be here, between where I think it
883 |741 |01:03:45 ~-~-> 01:03:52 |ultimately may reach for and where a certain measured move, idea where that's
884 |742 |01:03:52 ~-~-> 01:04:00 |real measured moves. If you're going to say, Dad, give me a role of pulling out
885 |743 |01:04:00 ~-~-> 01:04:03 |targets where I know that they're absolutely low hanging fruit, and I
886 |744 |01:04:03 ~-~-> 01:04:08 |don't have to worry about it, and you're willing to let bigger runs just evade
887 |745 |01:04:08 ~-~-> 01:04:11 |you, because you want to be able to get into the trades, and as long as all
888 |746 |01:04:11 ~-~-> 01:04:16 |things being equal are saying that trades viable, where is the no brainer
889 |747 |01:04:16 ~-~-> 01:04:21 |exit, that this is always most likely going to be the best exit point that I
890 |748 |01:04:21 ~-~-> 01:04:25 |can take and not worry about it, not do too many calculations and spend too much
891 |749 |01:04:25 ~-~-> 01:04:29 |time. It's the measured moves. So whatever price runs you're expected to
892 |750 |01:04:29 ~-~-> 01:04:33 |see, if you're looking for a bullish run, just look at a price like that was
893 |751 |01:04:33 ~-~-> 01:04:36 |prior to the run you're in as a long and then do a measurement like I'm showing
894 |752 |01:04:36 ~-~-> 01:04:40 |you here. And that would be here, if it meets the criteria of trading into an
895 |753 |01:04:40 ~-~-> 01:04:43 |old high or relative equal highs, because there's real stocks that's going
896 |754 |01:04:43 ~-~-> 01:04:46 |to be the draw the markets want to, want to book there, because there's real
897 |755 |01:04:46 ~-~-> 01:04:52 |orders resting above that. Well, dad is, you know, who I am. I'm dad. I'm always
898 |756 |01:04:52 ~-~-> 01:04:56 |trying to be better than everything else, so I want to know where it's going
899 |757 |01:04:56 ~-~-> 01:05:01 |to reach for but also the human in me that can tend to be. Wrong sometimes or
900 |758 |01:05:01 ~-~-> 01:05:04 |sometimes the market says fickle and says, fuck you. ICT you're not getting
901 |759 |01:05:04 ~-~-> 01:05:09 |your limit order right. So I want to be in that gray area, which is between
902 |760 |01:05:09 ~-~-> 01:05:14 |where I think it ultimately is going to go, and the low hanging fruit threshold,
903 |761 |01:05:17 ~-~-> 01:05:21 |which is in this area here. So that line right there, I want to have an exit
904 |762 |01:05:21 ~-~-> 01:05:25 |that's above, at or above that level. See that?
905 |763 |01:05:26 ~-~-> 01:05:30 |So this is the reason why we talked about this, and I'm just doing it for
906 |764 |01:05:30 ~-~-> 01:05:33 |the sake of the people that are watching and wanting to learn. But if you look at
907 |765 |01:05:33 ~-~-> 01:05:38 |where I exited, see where the see a little arrow that'll arrow that appears
908 |766 |01:05:38 ~-~-> 01:05:41 |when I hover without the arrow that shows when I got out, that's where my
909 |767 |01:05:41 ~-~-> 01:05:47 |limit order was, and I'm okay. Truth be told, I'm really not okay. I'm really
910 |768 |01:05:47 ~-~-> 01:05:51 |not okay. I really want to be able to nail the highs and and do all that. But
911 |769 |01:05:51 ~-~-> 01:05:54 |I also know that sometimes they're just going to say, Screw you. Okay, you're
912 |770 |01:05:54 ~-~-> 01:05:59 |not going to have it today. And I don't like when they have that win over me, so
913 |771 |01:05:59 ~-~-> 01:06:04 |I'm just going to be content with this is, this is good. It's better than most
914 |772 |01:06:04 ~-~-> 01:06:07 |people on the internet. It's most it's better than most people that trade. They
915 |773 |01:06:07 ~-~-> 01:06:09 |don't have the they don't have a methodology that's going to be
916 |774 |01:06:09 ~-~-> 01:06:14 |consistent, that drives them to I mean, if you look at all bad streets, and any
917 |775 |01:06:14 ~-~-> 01:06:18 |of them people that see it, you can see, I'm buying the lows. I'm getting out at
918 |776 |01:06:18 ~-~-> 01:06:23 |short term highs, and I'm distributing my positions at these key points.
919 |777 |01:06:24 ~-~-> 01:06:27 |Sometimes I do phenomenal, and I get really, really close to the actual
920 |778 |01:06:27 ~-~-> 01:06:32 |highs. But truth be told, You're not going to get that as a steady diet. So
921 |779 |01:06:32 ~-~-> 01:06:37 |the way you manage that expectation and overcome the realities of you not being
922 |780 |01:06:37 ~-~-> 01:06:40 |precise in the beginning or throughout your career, you're not going to be
923 |781 |01:06:40 ~-~-> 01:06:45 |perfect. I'm pursuing perfect. It's always been a target that I know is
924 |782 |01:06:45 ~-~-> 01:06:48 |going to evade me. But guess what that does? It keeps me chasing it, and keeps
925 |783 |01:06:48 ~-~-> 01:06:52 |me young and keeps me virile, and like I'm hungry, I'm going to constantly seek
926 |784 |01:06:52 ~-~-> 01:06:56 |that. And you're not going the wrong direction. You're always going for
927 |785 |01:06:57 ~-~-> 01:07:00 |improvements, because as soon as the day you come into trading and say, I have
928 |786 |01:07:00 ~-~-> 01:07:03 |everything figured out. I'm never going to try and improve myself. Improve in
929 |787 |01:07:03 ~-~-> 01:07:06 |myself. You're going to start getting lazy. You're going to start doing stupid
930 |788 |01:07:06 ~-~-> 01:07:09 |break rules, and then you try to entertain yourself with doing dumb stuff
931 |789 |01:07:09 ~-~-> 01:07:12 |that hasn't been taught to you, thinking, let me try to something test.
932 |790 |01:07:12 ~-~-> 01:07:16 |You're going to lose money. And then it becomes a toxic, you know, impairment,
933 |791 |01:07:16 ~-~-> 01:07:20 |that now you've done something, and then you feel guilty about having done
934 |792 |01:07:20 ~-~-> 01:07:24 |something that you weren't trained to do. And so many students, so many other
935 |793 |01:07:24 ~-~-> 01:07:27 |traders that don't even use my stuff, they waste time doing that, and they
936 |794 |01:07:27 ~-~-> 01:07:32 |become a waste as a trader because they've done stupid shit. So this is
937 |795 |01:07:32 ~-~-> 01:07:37 |what we're doing to trade Asia. All of these elements are repeating factors
938 |796 |01:07:37 ~-~-> 01:07:42 |that you as a student if you want to be trading this time of day. This is what
939 |797 |01:07:42 ~-~-> 01:07:47 |it looks like. This is the protocol. This is the guidance Kim. This is
940 |798 |01:07:47 ~-~-> 01:07:53 |everything that you need to do. And by doing this markup every single day, you
941 |799 |01:07:53 ~-~-> 01:07:57 |will understand what you're having questions that arise in your mind right
942 |800 |01:07:57 ~-~-> 01:08:00 |now. But what about this? And what about that? All of those questions are going
943 |801 |01:08:00 ~-~-> 01:08:04 |to predominantly be answered because you have exposed yourself to annotating the
944 |802 |01:08:04 ~-~-> 01:08:09 |chart, doing this every single day, whether it be Asia, whether it be the
945 |803 |01:08:09 ~-~-> 01:08:12 |New York session, like my son, Caleb's getting himself prepared to be only
946 |804 |01:08:12 ~-~-> 01:08:17 |focusing on or if it's the afternoon session, okay, or if it's London, and
947 |805 |01:08:17 ~-~-> 01:08:21 |you'll see me do the same thing at London, just as a tip Your hand. I tip
948 |806 |01:08:21 ~-~-> 01:08:25 |my hand to you. The delineation here that would simply be at two o'clock, and
949 |807 |01:08:25 ~-~-> 01:08:29 |guess what? It's going to do what I'm describing here. So all you're doing is
950 |808 |01:08:29 ~-~-> 01:08:34 |you're watching what price is doing. The only difference is where we have the new
951 |809 |01:08:34 ~-~-> 01:08:40 |day opening gap here. See, I love I love sharing, instead of the new day opening
952 |810 |01:08:40 ~-~-> 01:08:44 |gap. What we're gonna be looking at is the 30 minutes after 12 o'clock to 1230
953 |811 |01:08:45 ~-~-> 01:08:49 |New York local time, because that is your opening range for London. You're
954 |812 |01:08:49 ~-~-> 01:08:52 |not surprised if you went through the mentorship on the videos on the YouTube
955 |813 |01:08:52 ~-~-> 01:08:56 |channel, but for the people that just got here, they're like, Oh, he's
956 |814 |01:08:56 ~-~-> 01:09:00 |dropping the sauce. Oh, man, this is so good. ICT gems. Gonna put that in the
957 |815 |01:09:00 ~-~-> 01:09:09 |club, I'm sure. But anyway, this, this day, obviously, moves back up in
958 |816 |01:09:09 ~-~-> 01:09:13 |consolidates. This is what I love. I teach this in the mentorship stuff too.
959 |817 |01:09:13 ~-~-> 01:09:16 |It's, everybody's like, yeah, it's, it's, it's creating a bull flag. You see
960 |818 |01:09:16 ~-~-> 01:09:20 |how it runs up quick, consolidates, and they want to see another leg of that
961 |819 |01:09:20 ~-~-> 01:09:24 |repeated up. That's That's fake. And I teach how determine when those fake ones
962 |820 |01:09:24 ~-~-> 01:09:30 |are in the mentorship on this YouTube channel. But it breaks down. It responds
963 |821 |01:09:30 ~-~-> 01:09:36 |back to what level where, old initial buy side. Look what it was here. Now the
964 |822 |01:09:36 ~-~-> 01:09:39 |pundits will say, Oh, he's doing this. He's talking about Support Resistance.
965 |823 |01:09:39 ~-~-> 01:09:43 |Because see how it was resistance here. Just draw your line through here. And
966 |824 |01:09:43 ~-~-> 01:09:47 |it's just draw it up here. It's bullshit, because there's so many
967 |825 |01:09:47 ~-~-> 01:09:51 |instances where you can see where prices turned as a short term high, or it's a
968 |826 |01:09:51 ~-~-> 01:09:55 |short term, short term low, and you can have a line drawn there, and the market
969 |827 |01:09:55 ~-~-> 01:10:03 |just runs through and says, See you like it doesn't respect. Okay, so why this
970 |828 |01:10:03 ~-~-> 01:10:08 |creates an important term here is because of what I outlined in here. It's
971 |829 |01:10:08 ~-~-> 01:10:12 |initial reference points that the algorithm is going to refer to when you
972 |830 |01:10:12 ~-~-> 01:10:16 |start looking at support, resistance students that are listening. I don't
973 |831 |01:10:16 ~-~-> 01:10:19 |want my son you screwed up with that bullshit thinking because he doesn't
974 |832 |01:10:19 ~-~-> 01:10:24 |understand the retail element of retail, support resistance, but for the folks
975 |833 |01:10:24 ~-~-> 01:10:28 |that are listening have been trading for a while, you'll be better at selecting
976 |834 |01:10:28 ~-~-> 01:10:33 |classic Support Resistance, as it's kind of like promoted in books and courses
977 |835 |01:10:33 ~-~-> 01:10:36 |and other people out there, or people that will watch me and say, he's
978 |836 |01:10:36 ~-~-> 01:10:39 |complicating everything. All you need is Support Resistance. I'm challenging
979 |837 |01:10:39 ~-~-> 01:10:44 |someone else to every day. Go out on the live stream, okay? And tell us the only
980 |838 |01:10:44 ~-~-> 01:10:48 |support or resistance levels that are going to work. So go fuck yourself.
981 |839 |01:10:48 ~-~-> 01:10:51 |Okay? Because that's the, that's the litmus test for anybody who wants to
982 |840 |01:10:51 ~-~-> 01:10:54 |make a video or live stream or leave comments and other people's bullshit.
983 |841 |01:10:54 ~-~-> 01:10:58 |Okay, do a live stream. I'm doing this Monday through Friday now. Okay, I have
984 |842 |01:10:58 ~-~-> 01:11:02 |an open schedule. I've I cleared my book. I'm going to be doing this every
985 |843 |01:11:02 ~-~-> 01:11:07 |fucking day. So use you. You that have that perspective that you think is just
986 |844 |01:11:07 ~-~-> 01:11:11 |support resistance, okay? And I'm just doing that. Okay? Now you have the task
987 |845 |01:11:11 ~-~-> 01:11:16 |of being out on a live stream and doing the correct only ones that work support
988 |846 |01:11:16 ~-~-> 01:11:20 |the resistance. Okay? And you got to call the market around them, because
989 |847 |01:11:20 ~-~-> 01:11:24 |that's what I'm doing. Don't believe me. Look at yesterday. It's a fucking
990 |848 |01:11:24 ~-~-> 01:11:31 |phenomenal reversal, wasn't it? This is lucky. It's all lucky. So anyway, we
991 |849 |01:11:31 ~-~-> 01:11:36 |sweep back down below the new day opening gap after touching the initial
992 |850 |01:11:36 ~-~-> 01:11:40 |buy side liquidity reference point, and then drops lower, goes back into that
993 |851 |01:11:40 ~-~-> 01:11:45 |volume and bounce there, and then we cross back below New Day opening gap. So
994 |852 |01:11:45 ~-~-> 01:11:48 |what's below the new day opening gap that formed last night, six o'clock, we
995 |853 |01:11:48 ~-~-> 01:11:54 |have the new week opening gap high. You see that? So that's the that's the next
996 |854 |01:11:54 ~-~-> 01:11:58 |level below us in terms of new week opening gap, or New Day opening gap. So
997 |855 |01:11:58 ~-~-> 01:12:05 |now we know we can potentially draw down into that. Look at this low here. We're
998 |856 |01:12:05 ~-~-> 01:12:12 |digging into the new week opening gap that was formed this Sunday that just
999 |857 |01:12:12 ~-~-> 01:12:17 |passed. Okay, we trade up. We're gyrating around the old level that was
1000 |858 |01:12:17 ~-~-> 01:12:23 |formed at six o'clock, or post six o'clock, where we had the initial sell
1001 |859 |01:12:23 ~-~-> 01:12:27 |side liquidity. See how it's referring back to that. It's gyrating around that.
1002 |860 |01:12:27 ~-~-> 01:12:31 |Okay, so now everybody's screaming. They're like, Man, this is amazing. This
1003 |861 |01:12:31 ~-~-> 01:12:34 |is amazing. Man, I can't believe this for free. I can't either. I don't the
1004 |862 |01:12:34 ~-~-> 01:12:37 |fuck I'm thinking, but anyway, they got this consolidation. And then we rally
1005 |863 |01:12:37 ~-~-> 01:12:42 |back up, and we're back into the new day opening gap, and then we trade right
1006 |864 |01:12:42 ~-~-> 01:12:48 |back up into a reference point for that old liquidity that was outside the
1007 |865 |01:12:48 ~-~-> 01:12:54 |initial buy side. You see that. So we have a previous day high. We return back
1008 |866 |01:12:54 ~-~-> 01:12:59 |to a here, bump, bump, gyrate around the initial buy side liquidity. And yet now
1009 |867 |01:12:59 ~-~-> 01:13:04 |you can see right away why does ICT use a notepad? Why am I referencing
1010 |868 |01:13:04 ~-~-> 01:13:10 |something I have scratched on my Samsung Galaxy Note, which is so much better
1011 |869 |01:13:10 ~-~-> 01:13:14 |than Apple? Apple sucks. Fuck. Apple, the rotten apple. We don't eat apples.
1012 |870 |01:13:14 ~-~-> 01:13:18 |Okay? You gonna use a real phone. You're gonna use a Samsung. Okay, Samsung is
1013 |871 |01:13:18 ~-~-> 01:13:24 |the shit, and I have no affiliation with that. I read Samsung? Yeah, apples
1014 |872 |01:13:24 ~-~-> 01:13:27 |burned me so many times. I would never use an Apple product. I don't give a
1015 |873 |01:13:27 ~-~-> 01:13:31 |shit. They made me a deal. I would never do it. And I'm not asking for a Samsung
1016 |874 |01:13:31 ~-~-> 01:13:36 |deal, by the way. I just want my opinions to be appreciated, because it's
1017 |875 |01:13:36 ~-~-> 01:13:40 |real. But anyway, same thing here. We've had that run up. It looks like a bull
1018 |876 |01:13:40 ~-~-> 01:13:43 |flag. Retail is going to say, oh, it's going to say, oh, it's going to run
1019 |877 |01:13:43 ~-~-> 01:13:48 |higher. No, it's not. What's What's it doing here at 12 o'clock in the morning,
1020 |878 |01:13:52 ~-~-> 01:13:57 |all this run goes down to a random midpoint, consequence of the new week
1021 |879 |01:13:57 ~-~-> 01:14:02 |opening gap. But now what is it created? There's a range. See, I'm already
1022 |880 |01:14:02 ~-~-> 01:14:05 |starting talking about the london session. I can't wait to get it out. I
1023 |881 |01:14:05 ~-~-> 01:14:09 |don't want to be I really don't want to wake up to do it. I'm just, I'm really
1024 |882 |01:14:09 ~-~-> 01:14:12 |glad that I can sleep through London. Now, I used to be up all the time
1025 |883 |01:14:12 ~-~-> 01:14:16 |training and doing Forex, but I know I promised I was going to do this out
1026 |884 |01:14:16 ~-~-> 01:14:22 |there for him. But anyway, from 12 o'clock there. Okay, so 12 to 1233,
1027 |885 |01:14:29 ~-~-> 01:14:37 |thick. Okay, that is your opening range for London. Okay, so that's enough for
1028 |886 |01:14:37 ~-~-> 01:14:40 |you folks that are chomping at the bit for that information. That range, the
1029 |887 |01:14:40 ~-~-> 01:14:43 |highest, high and low, slow, between those two price points. Okay, think of
1030 |888 |01:14:43 ~-~-> 01:14:47 |it like the opening range at 930 to 10 o'clock in the morning, which is what
1031 |889 |01:14:47 ~-~-> 01:14:52 |we're involved in now for the opening bell, you extend that forward in time to
1032 |890 |01:14:52 ~-~-> 01:14:55 |the right, and you'll see that the market will refer back to it, in
1033 |891 |01:14:55 ~-~-> 01:14:59 |addition to how it goes back into the new day opening gap that formed last
1034 |892 |01:14:59 ~-~-> 01:15:05 |night since the four. Up, see how, look at, look at the beauty of this bang
1035 |893 |01:15:06 ~-~-> 01:15:10 |drops back down, and it gyrates and works inside that range, and then
1036 |894 |01:15:10 ~-~-> 01:15:17 |finally pops through, consolidating around the old initials by side, yep.
1037 |895 |01:15:17 ~-~-> 01:15:22 |And then hits the old by side, hits it, hammers it. And then we have this big
1038 |896 |01:15:22 ~-~-> 01:15:27 |pump up here. And now we're in six o'clock in the morning. It drops back
1039 |897 |01:15:27 ~-~-> 01:15:35 |down into new day, opening gap bumps the old high of previous day hits it one
1040 |898 |01:15:35 ~-~-> 01:15:39 |more time. So many trades are going to be formed around previous days highs,
1041 |899 |01:15:39 ~-~-> 01:15:45 |the first thing dad taught on baby pips back in 2010 I said the majority of your
1042 |900 |01:15:45 ~-~-> 01:15:48 |big, nice setups are going to form around old highs on old lows. That
1043 |901 |01:15:48 ~-~-> 01:15:53 |meaning that previous days high and previous days low. So you can see the
1044 |902 |01:15:53 ~-~-> 01:16:00 |elements of that unfolding here. What is this level out here? See, I'm testing it
1045 |903 |01:16:00 ~-~-> 01:16:05 |as the initial sell side liquidity? Yes, very good. So it trades up, hits that
1046 |904 |01:16:05 ~-~-> 01:16:09 |and drops. Now, think about it. Okay, I'm telling you how to find the real
1047 |905 |01:16:09 ~-~-> 01:16:16 |support resistance. Is it not, is it not respecting these levels? It's perfect.
1048 |906 |01:16:16 ~-~-> 01:16:19 |Yeah, it's perfect, right? So it's going right to them hammering. What time of
1049 |907 |01:16:19 ~-~-> 01:16:25 |day is that for me, 758, two minutes before eighth. So we have the eight
1050 |908 |01:16:25 ~-~-> 01:16:29 |o'clock hour. We're watching to see what this price going to do. Well, we have
1051 |909 |01:16:30 ~-~-> 01:16:35 |low, relative equal lows, and it's here. So what would you expect to see it
1052 |910 |01:16:35 ~-~-> 01:16:39 |dropped? What happens if you miss this move? Some, what happens if you see it
1053 |911 |01:16:39 ~-~-> 01:16:46 |start to drop? I'm and you missed this reaction here. What are you going to do?
1054 |912 |01:16:46 ~-~-> 01:16:49 |You're going to wait. What are you waiting for? Waiting for a fair value
1055 |913 |01:16:49 ~-~-> 01:16:54 |gap or volume imbalance. There's a volume imbalance, and then we have the
1056 |914 |01:16:54 ~-~-> 01:16:58 |open. It trades up, goes right into that. There's your short and what's
1057 |915 |01:16:58 ~-~-> 01:17:02 |going to aim for the relative equal lows that we were just looking at before I
1058 |916 |01:17:02 ~-~-> 01:17:08 |did this over here. So you have an entry here that targets these relative equal
1059 |917 |01:17:08 ~-~-> 01:17:12 |lows and these relative equal lows looking further to the left. We have
1060 |918 |01:17:12 ~-~-> 01:17:17 |this down here. Isn't that a relative equal though? Yes, sir. And where's the
1061 |919 |01:17:17 ~-~-> 01:17:23 |market go? Well past it, where is it trade down to on the new week, a new
1062 |920 |01:17:23 ~-~-> 01:17:31 |week, opening gap, right? And then what does it do after that reaction? See,
1063 |921 |01:17:31 ~-~-> 01:17:36 |folks, listen, okay, this is why I laugh at all of these ass hats. Okay, that sit
1064 |922 |01:17:36 ~-~-> 01:17:39 |back and say, I reinvented something. I didn't reinvent shit. I didn't rename
1065 |923 |01:17:39 ~-~-> 01:17:45 |anything. I'm teaching you stuff that they can't find the source of, to be
1066 |924 |01:17:45 ~-~-> 01:17:48 |able to say, here's the $5 million payout to me, ICT, because I'm exposing
1067 |925 |01:17:48 ~-~-> 01:17:51 |you as somebody that's renamed shit. This is the biggest long running
1068 |926 |01:17:52 ~-~-> 01:17:56 |conspiracy theory there has been since I've come out and started teaching no
1069 |927 |01:17:56 ~-~-> 01:17:59 |none of this information is anywhere else, except for initially out of my
1070 |928 |01:17:59 ~-~-> 01:18:05 |mouth. This stuff is new. This is the new breed of technology in terms of
1071 |929 |01:18:05 ~-~-> 01:18:09 |reading price action, and it's been in hot little hands for the last three
1072 |930 |01:18:09 ~-~-> 01:18:14 |decades. And I often wonder, why on earth would I absolutely be sharing
1073 |931 |01:18:16 ~-~-> 01:18:24 |this? It is what it is, but the reaction you get here, and it runs up where, if
1074 |932 |01:18:24 ~-~-> 01:18:27 |it's going to have this much of a reaction off that low of the new weak
1075 |933 |01:18:27 ~-~-> 01:18:31 |opening gap, what is reasonable for it to see it reach for if you're inside the
1076 |934 |01:18:31 ~-~-> 01:18:34 |new week opening gap, and it's shown the willingness to want to react this way,
1077 |935 |01:18:34 ~-~-> 01:18:39 |it's the midpoint. And then if we're going to see this level breached and
1078 |936 |01:18:39 ~-~-> 01:18:44 |pierced on the upside. It does it here. It's dropping that down. Why would it
1079 |937 |01:18:44 ~-~-> 01:18:48 |want to drop back down? It's going to a discount, like a sling, like I was
1080 |938 |01:18:48 ~-~-> 01:18:51 |saying, slingshot, but it's reaching down into an inefficiency, because
1081 |939 |01:18:51 ~-~-> 01:18:54 |there's no short term lows in here, except for that tiny one right there.
1082 |940 |01:18:54 ~-~-> 01:18:58 |It's, to me, doesn't have all that much in importance, but my eye jumps right to
1083 |941 |01:18:58 ~-~-> 01:19:01 |that. You see that? Yes, sir. So if you're seeing,
1084 |942 |01:19:08 ~-~-> 01:19:12 |look at the perfection there. I mean, look at that couldn't have been more
1085 |943 |01:19:12 ~-~-> 01:19:17 |precise. Hits it and then him and runs Same thing over here, fair value gap
1086 |944 |01:19:18 ~-~-> 01:19:23 |drops into it there, after taking a short term low out rally. It goes back
1087 |945 |01:19:23 ~-~-> 01:19:27 |to this level. Now, from here, I want to see a trade above this high. Here it
1088 |946 |01:19:27 ~-~-> 01:19:31 |does. And then we can react off of the consequent approach at midpoint, and
1089 |947 |01:19:31 ~-~-> 01:19:35 |then it runs back up to what is this level? Again, that is the initial sell
1090 |948 |01:19:35 ~-~-> 01:19:39 |side liquidity, right? And for the folks that missed what that was and joined the
1091 |949 |01:19:39 ~-~-> 01:19:51 |string late, it was derived from there. So we're not Sam Siddons Online Academy.
1092 |950 |01:19:51 ~-~-> 01:19:54 |We're not teaching supply and demand. We're not doing classic support and
1093 |951 |01:19:54 ~-~-> 01:19:57 |resistance, renaming it and calling something complicated. We're taking you
1094 |952 |01:19:57 ~-~-> 01:20:02 |with a bit like a view, a perspective that. Is technical science. I'm teaching
1095 |953 |01:20:02 ~-~-> 01:20:07 |you how to refer back to the same levels at the specific times that the algorithm
1096 |954 |01:20:07 ~-~-> 01:20:12 |will do. There's lots of them that I can't teach, but these are the ones that
1097 |955 |01:20:12 ~-~-> 01:20:17 |I can teach you where it kind of, it's, well, you know, it's perfect, really,
1098 |956 |01:20:17 ~-~-> 01:20:21 |that people say you're just teaching supply and demand or or support
1099 |957 |01:20:21 ~-~-> 01:20:26 |resistance, because I'm hiding in plain sight. If the lazy people come and see
1100 |958 |01:20:26 ~-~-> 01:20:32 |that's what it is, okay, replicate it. If that's all it is, go do it too. They
1101 |959 |01:20:32 ~-~-> 01:20:36 |won't. They can't do it. That's why they teach and show examples in Market
1102 |960 |01:20:36 ~-~-> 01:20:45 |Replay. But we are in the opening range. Now this is the part where we talk a
1103 |961 |01:20:45 ~-~-> 01:20:48 |little bit about something that you need to be worried about if you're going to
1104 |962 |01:20:48 ~-~-> 01:20:50 |be trading in that nine to five hour. Okay, so if you get your trade done
1105 |963 |01:20:51 ~-~-> 01:20:55 |beforehand, then don't worry about it. You're taking one good setup. Once you
1106 |964 |01:20:55 ~-~-> 01:20:58 |get it, you stop. You're not in here trying to impress that. You're going to
1107 |965 |01:20:58 ~-~-> 01:21:02 |impress me by doing your one trade setup. And it pans out based on what
1108 |966 |01:21:02 ~-~-> 01:21:05 |you're trying to do and you're done, I'm going to be more impressed with your
1109 |967 |01:21:05 ~-~-> 01:21:09 |ability to not trade more than you should. Then taking a lot of trades,
1110 |968 |01:21:09 ~-~-> 01:21:14 |right? I want you to have the ability to sit still, because that is what messes
1111 |969 |01:21:14 ~-~-> 01:21:18 |everybody up. Everybody does the wrong thing by trying to be more active than
1112 |970 |01:21:18 ~-~-> 01:21:24 |they should. All right. So let's get this off here. And now, if you look in
1113 |971 |01:21:24 ~-~-> 01:21:28 |the lower right hand corner here, it says electronic trading hours here. That
1114 |972 |01:21:28 ~-~-> 01:21:35 |is 24 hours in the day. As long as it's trading, you're going to see every panel
1115 |973 |01:21:35 ~-~-> 01:21:39 |stick. When I click on this, it's going to give you a regular trading hour
1116 |974 |01:21:40 ~-~-> 01:21:44 |option, and it's showing that we're showing electronic trading
1117 |975 |01:21:44 ~-~-> 01:21:47 |predominantly, I'm going to have electronic trading hours shown, okay,
1118 |976 |01:21:47 ~-~-> 01:21:52 |but if you're going to be trading in a nine o'clock hour, if your trade hasn't
1119 |977 |01:21:52 ~-~-> 01:21:55 |formed yet, or if you miss something, and you want to be engaging, post nine
1120 |978 |01:21:55 ~-~-> 01:21:59 |o'clock at the opening bell, you're going to set your chart to regular
1121 |979 |01:21:59 ~-~-> 01:22:04 |trading hours And watch what it does. Looks different, doesn't it very much.
1122 |980 |01:22:04 ~-~-> 01:22:08 |So what, what's actually occurring is you're seeing the difference between
1123 |981 |01:22:09 ~-~-> 01:22:15 |yesterday's closing price, the regular session hours, and it's using 415 that
1124 |982 |01:22:15 ~-~-> 01:22:19 |that's there's it's very confusing, because electronic trading continues
1125 |983 |01:22:19 ~-~-> 01:22:23 |still, even though, when you watch the TV at four o'clock, you know they they
1126 |984 |01:22:23 ~-~-> 01:22:26 |ring the bell, Ding, ding, ding, ding, ding, clap your hands like they fucking
1127 |985 |01:22:26 ~-~-> 01:22:30 |did something special. They didn't do anything. Then for 15 minutes, it
1128 |986 |01:22:30 ~-~-> 01:22:35 |settles, and at 5415 there's technically the day session is done, but
1129 |987 |01:22:35 ~-~-> 01:22:39 |electronically, it's trading until five o'clock, then it stops and it opens at
1130 |988 |01:22:39 ~-~-> 01:22:43 |six o'clock. So you can see how this quickly becomes very confusing for
1131 |989 |01:22:43 ~-~-> 01:22:48 |someone that's never looked at it and studied it. But for the sake of viewing
1132 |990 |01:22:48 ~-~-> 01:22:53 |what it is, it's important about this perspective of regular trading hours, we
1133 |991 |01:22:53 ~-~-> 01:22:57 |have already arrived at what it has done here as it run up and hit it and then
1134 |992 |01:22:57 ~-~-> 01:23:02 |move lower, because this is your initial sell side that was set at the opening at
1135 |993 |01:23:02 ~-~-> 01:23:06 |six o'clock or shortly after. So when the market runs up in here, hits this
1136 |994 |01:23:06 ~-~-> 01:23:13 |level, it's actually hitting also the opening range. Opening range is nine
1137 |995 |01:23:13 ~-~-> 01:23:23 |o'clock to 930 down there. Okay, so 930 is opening bell. All of this is the
1138 |996 |01:23:23 ~-~-> 01:23:27 |opening range. There is no 15 minute opening range. Okay, opening range.
1139 |997 |01:23:28 ~-~-> 01:23:34 |Algorithmically, it's 30 minutes. It's 930, to 10 o'clock. In that range, it's
1140 |998 |01:23:34 ~-~-> 01:23:38 |doing the same thing that I said when we were looking at the six o'clock New Deal
1141 |999 |01:23:38 ~-~-> 01:23:43 |thing gap. It's establishing initial buy side and sell side. That's what it's
1142 |1000 |01:23:43 ~-~-> 01:23:47 |doing in that in that 30 minutes, sometimes the market will just break and
1143 |1001 |01:23:47 ~-~-> 01:23:51 |never, never have any kind of opening range impact. It just just opens where
1144 |1002 |01:23:51 ~-~-> 01:23:55 |it opens and it starts running. In this case here, we can see that it's opening
1145 |1003 |01:23:57 ~-~-> 01:24:01 |and trading back up into not a full return back to the previous close. Yeah,
1146 |1004 |01:24:01 ~-~-> 01:24:04 |it didn't go up there. It just went right to where I gave you the initial
1147 |1005 |01:24:04 ~-~-> 01:24:08 |self cyber pudding, how to frame it goes right to that does the majority of the
1148 |1006 |01:24:08 ~-~-> 01:24:13 |closure of the opening range where we opened from where we closed. That
1149 |1007 |01:24:13 ~-~-> 01:24:20 |difference is a gap. So in other words, and when they're watching Christ until
1150 |1008 |01:24:20 ~-~-> 01:24:24 |it opens up. This is what you're looking at. Where we where we stop trading.
1151 |1009 |01:24:24 ~-~-> 01:24:30 |Okay, we stop trading the previous day at 415 and then regular trading hours.
1152 |1010 |01:24:30 ~-~-> 01:24:35 |This is what we're highlighting here. Regular trading hours, the next opening
1153 |1011 |01:24:36 ~-~-> 01:24:41 |tick, the very first print, or very first trade. At 930 it opens up down
1154 |1012 |01:24:41 ~-~-> 01:24:45 |there, if it's the green candle, what is it showing? The opening is the Whoa,
1155 |1013 |01:24:45 ~-~-> 01:24:50 |okay, so as soon as you have that, you're going to highlight that entire
1156 |1014 |01:24:50 ~-~-> 01:24:54 |range and then watch price. You're not pushing buttons. You're watching price
1157 |1015 |01:24:54 ~-~-> 01:24:59 |to see how it behaves normally, not always, normally when you have such a
1158 |1016 |01:24:59 ~-~-> 01:25:04 |large gap. Like that. What will happen is, is the market will create a
1159 |1017 |01:25:04 ~-~-> 01:25:08 |sometimes it'll open trade a little bit lower, and then start working higher,
1160 |1018 |01:25:09 ~-~-> 01:25:14 |drop back down, either take the low it's formed, or just like it did here, very
1161 |1019 |01:25:14 ~-~-> 01:25:18 |subtly, and then rally. Why did it run initially straight from the opening?
1162 |1020 |01:25:18 ~-~-> 01:25:22 |Because we had already taken out this low, see that, and then we worked into
1163 |1021 |01:25:22 ~-~-> 01:25:26 |that range, all the way up to the initial sell side liquidity, not the
1164 |1022 |01:25:26 ~-~-> 01:25:31 |entire gap closure. That's a huge paradigm shift for people that have
1165 |1023 |01:25:31 ~-~-> 01:25:34 |asked all the time, how do you know when it's not gonna be a full closure on the
1166 |1024 |01:25:34 ~-~-> 01:25:39 |gap? Well, you're gonna implement what I just did here, and all those factors are
1167 |1025 |01:25:39 ~-~-> 01:25:43 |gonna be weighing on whether or not the gap completely closes or not. I like
1168 |1026 |01:25:43 ~-~-> 01:25:49 |this generally, even if the market's going to be bearish and continue going
1169 |1027 |01:25:49 ~-~-> 01:25:55 |lower after a big gap, lower, like this, generally, you have about a 70% chance.
1170 |1028 |01:25:56 ~-~-> 01:25:59 |And I say this now everybody, don't think that means 100% but it's not 70%
1171 |1029 |01:26:00 ~-~-> 01:26:05 |chance that it's going to go back to mid gap. So there's always a trade available
1172 |1030 |01:26:05 ~-~-> 01:26:09 |when you have a big gap down like that, that that right there trading back into
1173 |1031 |01:26:09 ~-~-> 01:26:12 |the midpoint. That is good. And look what it did. It trades. And for people
1174 |1032 |01:26:12 ~-~-> 01:26:15 |that heard that for the first time, they're thinking, well, he's saying that
1175 |1033 |01:26:15 ~-~-> 01:26:20 |because it happened. But I have traders that have been with me for shit 12 years
1176 |1034 |01:26:20 ~-~-> 01:26:26 |now, and they've heard me teach this before in mentorship. I've taught this
1177 |1035 |01:26:26 ~-~-> 01:26:35 |in 2022 mentorship, or if it's just a regular video I did, but I talked about,
1178 |1036 |01:26:35 ~-~-> 01:26:39 |no, it was live streaming. What I was doing, I was doing live streams. And I
1179 |1037 |01:26:39 ~-~-> 01:26:44 |talked about how it's easy for the rock to get mid gap. So mid gap is really,
1180 |1038 |01:26:44 ~-~-> 01:26:49 |really, really strong probability. If you get lower, just find the midpoint,
1181 |1039 |01:26:49 ~-~-> 01:26:52 |which is what that is, okay. And you can see it does that. And then what does it
1182 |1040 |01:26:52 ~-~-> 01:26:56 |do? It goes right back down and just bumps the low. And then you get that run
1183 |1041 |01:26:56 ~-~-> 01:27:00 |all the way up to initial sell side liquidity, which could have very easily
1184 |1042 |01:27:01 ~-~-> 01:27:09 |retouched the closed yesterday at 415 or half of that wick. Okay, so I want to
1185 |1043 |01:27:09 ~-~-> 01:27:22 |talk a little bit about the chart on the electronic trading. So doesn't the chart
1186 |1044 |01:27:22 ~-~-> 01:27:26 |look totally different? Now, very confusing, isn't it? Very so you have to
1187 |1045 |01:27:26 ~-~-> 01:27:31 |have reference points, and what, what that does on my phone, usually I'll
1188 |1046 |01:27:31 ~-~-> 01:27:36 |scribble, you know, the key levels, like, I'll have the levels in numeric
1189 |1047 |01:27:36 ~-~-> 01:27:42 |format here, and I'll write down newly opening h, and then, you know, the data
1190 |1048 |01:27:42 ~-~-> 01:27:46 |was on, and that's what scribbled on my on my pad. Everybody wants to see my
1191 |1049 |01:27:46 ~-~-> 01:27:50 |notepad that's next to my charts. As I'm doing it, like, it's going to give them
1192 |1050 |01:27:50 ~-~-> 01:27:54 |something special. And it all it is, is, I don't want it on my chart. I just want
1193 |1051 |01:27:54 ~-~-> 01:27:57 |to have the reference points. And as I'm watching price, like, right now, it's
1194 |1052 |01:27:57 ~-~-> 01:28:03 |trading at 18,004 82, and a half. Okay, I'm looking at my notes, and my notes
1195 |1053 |01:28:03 ~-~-> 01:28:08 |say I have new week opening. Gap high at 18, 513, and a quarter, so I'm in close
1196 |1054 |01:28:08 ~-~-> 01:28:12 |proximity to that. So it could come back and gyrate back up into there. It can do
1197 |1055 |01:28:12 ~-~-> 01:28:16 |so even further, because we have what in play. What's this? The initial sense of
1198 |1056 |01:28:16 ~-~-> 01:28:27 |liquidity. No, visually, what is this? What are they relative equal? Highs?
1199 |1057 |01:28:28 ~-~-> 01:28:32 |Yes, yes, this this high and this high are relatively equal. And then you have
1200 |1058 |01:28:32 ~-~-> 01:28:36 |this one over here, even though we bumped it a little bit, that's that
1201 |1059 |01:28:36 ~-~-> 01:28:41 |right, there is still too clean for me. It's too clean. So I want to sit back
1202 |1060 |01:28:41 ~-~-> 01:28:44 |and watch and see. Do they have any interest in trying to press back above
1203 |1061 |01:28:44 ~-~-> 01:28:48 |that? I think that if they're really going to dump it today, going into the
1204 |1062 |01:28:48 ~-~-> 01:28:51 |weekend, because there's a whole lot of things going on over the Middle East
1205 |1063 |01:28:51 ~-~-> 01:28:56 |that everybody's afraid it's going to pop off, and those types of events that
1206 |1064 |01:28:56 ~-~-> 01:29:05 |are looming that is always going to be used as a as a stimuli to upset engineer
1207 |1065 |01:29:05 ~-~-> 01:29:06 |or
1208 |1066 |01:29:08 ~-~-> 01:29:14 |impact sentiment, or how people see trading if it's risk on, which, in my
1209 |1067 |01:29:14 ~-~-> 01:29:20 |opinion, right now, it's risk off. Risk off means that there's a there is no one
1210 |1068 |01:29:20 ~-~-> 01:29:25 |willing to really try to go in and think that we're a long term buying
1211 |1069 |01:29:25 ~-~-> 01:29:29 |opportunity, because there's so much uncertainty that's kind of like what I'm
1212 |1070 |01:29:29 ~-~-> 01:29:33 |getting at. There's too many things that can go wrong, and that scary type of
1213 |1071 |01:29:33 ~-~-> 01:29:38 |looming event on the horizon could cause stocks to tumble because the Street
1214 |1072 |01:29:38 ~-~-> 01:29:42 |Money thinks that that's what causes the market to drop, and that's not what it
1215 |1073 |01:29:42 ~-~-> 01:29:46 |is, but the algorithm and the people that have control over it, they will
1216 |1074 |01:29:46 ~-~-> 01:29:51 |manipulate price, so that way, the sentiment is shifted based on the
1217 |1075 |01:29:51 ~-~-> 01:29:58 |assumptions that W, A, R events would possibly be a catalyst for why the
1218 |1076 |01:29:58 ~-~-> 01:30:06 |market crashes or. Is unfavorable price price action. Okay, so there's a lot of
1219 |1077 |01:30:06 ~-~-> 01:30:11 |things that you have to weigh out over time, you know, in your development, but
1220 |1078 |01:30:11 ~-~-> 01:30:15 |initially knowing what to look for, and then studying these fluctuations around
1221 |1079 |01:30:15 ~-~-> 01:30:20 |it, and studying how the market behaves around these elements of referencing
1222 |1080 |01:30:20 ~-~-> 01:30:27 |time and price. What are we talking about when we say time? Obviously, you
1223 |1081 |01:30:27 ~-~-> 01:30:30 |know, there's specific times that I'm teaching you to look at, but what's the
1224 |1082 |01:30:30 ~-~-> 01:30:36 |price aspect at that time? Are we referencing an inefficiency, or are we
1225 |1083 |01:30:36 ~-~-> 01:30:41 |referencing liquidity? You see how that's very simple, isn't it? Sounds
1226 |1084 |01:30:41 ~-~-> 01:30:45 |ambiguous, or it sounds lofty and complicated, when I just say you gotta
1227 |1085 |01:30:45 ~-~-> 01:30:49 |the market works on time and price. And they think, Okay, well, what time? Well,
1228 |1086 |01:30:49 ~-~-> 01:30:53 |it's the elements that I've taught in mentorship, videos and lectures and the
1229 |1087 |01:30:53 ~-~-> 01:30:59 |things I'm teaching this week. But when it comes to price, what's the price? The
1230 |1088 |01:30:59 ~-~-> 01:31:04 |price is either an inefficiency or it's liquidity, it's something above an old
1231 |1089 |01:31:04 ~-~-> 01:31:09 |high or below an old low, or relative equal highs or relative equal lows. So
1232 |1090 |01:31:09 ~-~-> 01:31:13 |they're not hiding from you. They're not hidden in the chart. They're not going
1233 |1091 |01:31:13 ~-~-> 01:31:17 |to morph into something different, like when I just toggled from electronic
1234 |1092 |01:31:17 ~-~-> 01:31:20 |trading to regular trading hours, it looked like a different chart, and then
1235 |1093 |01:31:20 ~-~-> 01:31:23 |back from regular trading hours to electronic trading hours, the chart
1236 |1094 |01:31:23 ~-~-> 01:31:26 |looks completely different. It looks like we're looking at a totally
1237 |1095 |01:31:26 ~-~-> 01:31:31 |different market. Yes or no, yes. So having the right reference points is
1238 |1096 |01:31:31 ~-~-> 01:31:37 |like much, much like having a navigation system in your car. You know, if I write
1239 |1097 |01:31:37 ~-~-> 01:31:41 |down directions and say, you turn right here, turn right there. Go about this.
1240 |1098 |01:31:41 ~-~-> 01:31:46 |You still might get a little lost, but if you have the navigation system on
1241 |1099 |01:31:46 ~-~-> 01:31:52 |where it tells you, oh yeah, there's a rest spot or a gas station in two miles,
1242 |1100 |01:31:53 ~-~-> 01:31:57 |okay, well, that's the same thing we're doing here. These levels are annotated
1243 |1101 |01:31:57 ~-~-> 01:32:01 |on the chart for you to say, Okay, there's a reason or a destination that
1244 |1102 |01:32:01 ~-~-> 01:32:07 |could be had or met. If it goes up, it can go to those levels. But what you're
1245 |1103 |01:32:07 ~-~-> 01:32:11 |going to be doing is you're going to be looking to see when there is time for
1246 |1104 |01:32:11 ~-~-> 01:32:16 |these markets to start gyrating a specific in the direction, and then the
1247 |1105 |01:32:16 ~-~-> 01:32:19 |price is providing you an opportunity that you have identified. That's
1248 |1106 |01:32:19 ~-~-> 01:32:26 |something that you see repeating all the time. I'm forcing this part on you. I
1249 |1107 |01:32:26 ~-~-> 01:32:30 |want you trading the fair value gaps that that is going to kill two birds at
1250 |1108 |01:32:30 ~-~-> 01:32:33 |one stone. Number one, it's easy for you to see visually. They don't hide.
1251 |1109 |01:32:33 ~-~-> 01:32:38 |They're very obvious in the chart, and most of the viewers that are watching
1252 |1110 |01:32:38 ~-~-> 01:32:41 |your development, they understand, even if they can't pick the right fair value
1253 |1111 |01:32:41 ~-~-> 01:32:44 |gap, because that's what they're concerned about. They'll learn by
1254 |1112 |01:32:44 ~-~-> 01:32:48 |default which ones that you're gravitating to that has my support in
1255 |1113 |01:32:48 ~-~-> 01:32:52 |saying that, yes, that's the right way of doing it, and they, by default, will
1256 |1114 |01:32:52 ~-~-> 01:32:56 |have a baseline understanding. And even if they don't have the fair value gap as
1257 |1115 |01:32:56 ~-~-> 01:33:02 |their model or entry, they'll at least get a better foundation on how the
1258 |1116 |01:33:02 ~-~-> 01:33:05 |markets are booking, what time they should start moving what it should look
1259 |1117 |01:33:05 ~-~-> 01:33:09 |like. And even if they're studying the fair value gap, most of them, if they're
1260 |1118 |01:33:10 ~-~-> 01:33:14 |going to be honest, they're going to find that they'll see another PD array
1261 |1119 |01:33:14 ~-~-> 01:33:21 |that I've taught, and their eye, just by default, will go to that. And they may
1262 |1120 |01:33:21 ~-~-> 01:33:25 |use your fair value gap initially as the catalyst, the trust that's going to move
1263 |1121 |01:33:25 ~-~-> 01:33:28 |and but then they may do something entirely different, trade of an order
1264 |1122 |01:33:28 ~-~-> 01:33:30 |block, or trade a break, or something like that, and then that will be the
1265 |1123 |01:33:30 ~-~-> 01:33:33 |catalyst for them to actually get in a trade. They won't be getting in when you
1266 |1124 |01:33:33 ~-~-> 01:33:37 |would be getting in, because they're going to wait to see if you fail. And
1267 |1125 |01:33:37 ~-~-> 01:33:40 |they want to be able to say, I'm glad I didn't do that, because he failed.
1268 |1126 |01:33:40 ~-~-> 01:33:43 |That's his own son. He failed and but they'll take a trade, if it moves a
1269 |1127 |01:33:43 ~-~-> 01:33:47 |little bit beyond that, and then they see the thing that they like to trade,
1270 |1128 |01:33:47 ~-~-> 01:33:52 |and then they'll trade it, but they're going to have more anxiety versus when
1271 |1129 |01:33:52 ~-~-> 01:33:56 |you get a trade on you're going to be in open profit. They're going to be in a
1272 |1130 |01:33:56 ~-~-> 01:34:01 |new entry, managing potential short term drawdown that they have no idea how far
1273 |1131 |01:34:01 ~-~-> 01:34:04 |it's going to move against them, but they're going to refer to where your
1274 |1132 |01:34:04 ~-~-> 01:34:07 |stop loss would be and how you would manage that trade. And they're going to
1275 |1133 |01:34:07 ~-~-> 01:34:10 |have a larger stop loss, and that's going to cause anxiety and scary
1276 |1134 |01:34:10 ~-~-> 01:34:14 |feelings, and it's going to be a terrible, toxic learning experience,
1277 |1135 |01:34:14 ~-~-> 01:34:17 |because they're not going to follow the rules, which is what I'm pressing on you
1278 |1136 |01:34:17 ~-~-> 01:34:21 |not to do. Don't break the rules, and don't try to reinvent things if you
1279 |1137 |01:34:21 ~-~-> 01:34:24 |didn't do it when you were supposed to do it, or how you're supposed to do it,
1280 |1138 |01:34:24 ~-~-> 01:34:29 |do nothing and just watch it and observe. Okay, so yesterday I talked
1281 |1139 |01:34:29 ~-~-> 01:34:33 |about how when the market has or was it yesterday? No, it wasn't yesterday. It's
1282 |1140 |01:34:33 ~-~-> 01:34:38 |day before, where there was no news in the morning. Yesterday, we had
1283 |1141 |01:34:38 ~-~-> 01:34:44 |employment data, and then we had a bond auction at one o'clock again, but prior,
1284 |1142 |01:34:44 ~-~-> 01:34:49 |prior to that, I think it was Wednesday, I said there was no no medium or low
1285 |1143 |01:34:49 ~-~-> 01:34:54 |impact news driver for the morning session. And I said, when you have that,
1286 |1144 |01:34:56 ~-~-> 01:35:02 |the market can gyrate. Move around from 830 and let's go back to 830 There's 837
1287 |1145 |01:35:04 ~-~-> 01:35:09 |right here. I'm not sorry, 836 the market trades down to new week, opening
1288 |1146 |01:35:09 ~-~-> 01:35:18 |gap low, okay, and then we rally up, come back down. If everybody got rallies
1289 |1147 |01:35:18 ~-~-> 01:35:21 |back to midpoint, consequent encroachment. And then you want to watch
1290 |1148 |01:35:21 ~-~-> 01:35:24 |and see, does it have the ability to trade above? It does, comes back down,
1291 |1149 |01:35:25 ~-~-> 01:35:28 |touches to consequent encroachment, and then trades back up to minimum unique
1292 |1150 |01:35:28 ~-~-> 01:35:32 |opening gap high, but trades to the initial sell side liquidity reference
1293 |1151 |01:35:32 ~-~-> 01:35:37 |point that the new day opening gap protocol teaches us to look for. So the
1294 |1152 |01:35:37 ~-~-> 01:35:41 |trades to it here, and then we fall out a bit. All of this price action right
1295 |1153 |01:35:41 ~-~-> 01:35:45 |now, as we're seeing, is exactly what I outlined, when we have no medium or high
1296 |1154 |01:35:45 ~-~-> 01:35:50 |impact news drivers in the morning session. The market can be aimless, it
1297 |1155 |01:35:50 ~-~-> 01:35:58 |can be choppy. It can be not as clear. Now there can be big, huge runs on these
1298 |1156 |01:35:58 ~-~-> 01:36:04 |types of days because of external stimuli, something happening, okay?
1299 |1157 |01:36:06 ~-~-> 01:36:11 |Allow the things in the Middle East, okay, or domestically, here in the
1300 |1158 |01:36:11 ~-~-> 01:36:16 |States, because of who's running for election and whatnot, all of these
1301 |1159 |01:36:16 ~-~-> 01:36:20 |factors are weighing heavily for me as a as an analyst looking at the market
1302 |1160 |01:36:20 ~-~-> 01:36:23 |saying, Okay, I don't want to be holding anything overnight. I don't want to be
1303 |1161 |01:36:23 ~-~-> 01:36:27 |trading very large. I don't want to be taking more trades than I should. And
1304 |1162 |01:36:27 ~-~-> 01:36:32 |that's a beautiful perspective to hold learning how to do it, because if you
1305 |1163 |01:36:32 ~-~-> 01:36:36 |start that way, then you have a better chance of not having all the the bad
1306 |1164 |01:36:36 ~-~-> 01:36:40 |stuff getting introduced to your perspective and or your actions as a
1307 |1165 |01:36:40 ~-~-> 01:36:44 |developing trader, because it's easy to pick up bad habits. Really, really easy
1308 |1166 |01:36:44 ~-~-> 01:36:56 |to do that. And looking at what the market has done thus far, we have really
1309 |1167 |01:36:56 ~-~-> 01:37:02 |nice reaction off of the new evident gap we've explored price up here prior to
1310 |1168 |01:37:02 ~-~-> 01:37:10 |the session starting. It's Friday. Okay, so what can we do? We can look at the
1311 |1169 |01:37:10 ~-~-> 01:37:18 |weekly range, because we have moved one sided. We've moved so far one sided that
1312 |1170 |01:37:18 ~-~-> 01:37:23 |it's reasonable to see Friday have a retracement back into the range that was
1313 |1171 |01:37:23 ~-~-> 01:37:28 |formed from Sunday to opening all throughout the week of trading. How much
1314 |1172 |01:37:28 ~-~-> 01:37:33 |of a retracement can we pull back in? We can trade back into that range 20 to 30%
1315 |1173 |01:37:33 ~-~-> 01:37:38 |it doesn't mean that that's trying to predict the closing price on Friday. I'm
1316 |1174 |01:37:38 ~-~-> 01:37:41 |not trying to do that. I have stuff that does that, but I'm not trying to do that
1317 |1175 |01:37:41 ~-~-> 01:37:46 |for the sake of the TGIF scenario. Thank God it's Friday. Is simply a way for me
1318 |1176 |01:37:46 ~-~-> 01:37:51 |to, kind of like press on the students to think, okay, thank God it's Friday.
1319 |1177 |01:37:52 ~-~-> 01:37:57 |It's a big week, directionally, one sided, and we've had that this week.
1320 |1178 |01:37:57 ~-~-> 01:38:02 |We've had the markets go straight on up, and we had a lot of movement through the
1321 |1179 |01:38:02 ~-~-> 01:38:08 |outside, which means that the market is more inclined to trade back in that
1322 |1180 |01:38:08 ~-~-> 01:38:16 |range to a degree of as much as 30% there are rules that can see as much as
1323 |1181 |01:38:16 ~-~-> 01:38:23 |a 40% retracement, but I've not found a way to teach it in a manner that
1324 |1182 |01:38:23 ~-~-> 01:38:26 |wouldn't be complicated. So as I've mentioned it to private mentorship
1325 |1183 |01:38:26 ~-~-> 01:38:31 |students, there are things that I have that I can't I can't teach everything.
1326 |1184 |01:38:31 ~-~-> 01:38:36 |Obviously. I mean, it's enough to know that 20 to 30% is an easy ballpark
1327 |1185 |01:38:36 ~-~-> 01:38:43 |figure, and you can trust sometimes taking shorts on a Friday that could
1328 |1186 |01:38:43 ~-~-> 01:38:48 |trade as low as 30% of whatever the highest high and the lowest low for the
1329 |1187 |01:38:48 ~-~-> 01:38:51 |week is 30%
1330 |1188 |01:38:52 ~-~-> 01:38:56 |minus the high of the week. That's where you can anticipate the market
1331 |1189 |01:38:56 ~-~-> 01:39:00 |potentially trading to. And sometimes it's a straight shot, like it'll jump
1332 |1190 |01:39:00 ~-~-> 01:39:03 |right there and go real, real nice. And then once it gets there, then it peters
1333 |1191 |01:39:03 ~-~-> 01:39:06 |out and go sideways, and then maybe bounce up a little bit. But then it's
1334 |1192 |01:39:06 ~-~-> 01:39:11 |nothing else for the rest of the Friday, the market just dies out. Other times it
1335 |1193 |01:39:11 ~-~-> 01:39:15 |just meanders around a little while, breaks down, meanders are a little
1336 |1194 |01:39:15 ~-~-> 01:39:20 |while, and then breaks down. And I think that's possibly what we'll see today,
1337 |1195 |01:39:20 ~-~-> 01:39:24 |because there's nothing to speak of on the economic calendar, except for it's
1338 |1196 |01:39:24 ~-~-> 01:39:29 |the end of the week, and nobody wants to hold risk over the weekend. And they can
1339 |1197 |01:39:29 ~-~-> 01:39:33 |do a nice reset by having a, you know, the market come off of the highs 30% and
1340 |1198 |01:39:33 ~-~-> 01:39:36 |it wouldn't unravel anything, even if it's long term bullish. Still it's an
1341 |1199 |01:39:36 ~-~-> 01:39:43 |election year, these things can be still supportive, even though nobody that
1342 |1200 |01:39:44 ~-~-> 01:39:48 |wants to be long or is long wants to see 30% of the weekly rain scale up like
1343 |1201 |01:39:48 ~-~-> 01:39:52 |they don't like to see that profit reduced or open profit without having
1344 |1202 |01:39:52 ~-~-> 01:40:03 |taken income. All right, so let's. Take a quick look at Yes, real quick as a
1345 |1203 |01:40:03 ~-~-> 01:40:05 |comparison, we haven't done that all week.
1346 |1204 |01:40:13 ~-~-> 01:40:20 |All right, so give me a second here. All right, so the s, p, looks even worse
1347 |1205 |01:40:21 ~-~-> 01:40:29 |than manage that looks really bad. I wouldn't trust anything in here. It
1348 |1206 |01:40:29 ~-~-> 01:40:36 |still looks a little too clean on the up here. I would disrupt that before we did
1349 |1207 |01:40:36 ~-~-> 01:40:40 |anything lower. That's my personal view on it. If it dropped, it would be
1350 |1208 |01:40:40 ~-~-> 01:40:43 |comfortable for me to say it's okay. I don't need to be a part of that move. I
1351 |1209 |01:40:43 ~-~-> 01:40:51 |wouldn't take anything in. Es, let's look at the Dow now is YM, you? 2024,
1352 |1210 |01:40:58 ~-~-> 01:41:04 |same thing here, to clean it. Be reasonable for it to see it spike up
1353 |1211 |01:41:04 ~-~-> 01:41:16 |into that. I don't trade the Dow. The Dow, to me, is the 3030, and if there's
1354 |1212 |01:41:16 ~-~-> 01:41:19 |a prostitute in these indices, it's definitely the Tao. And I ain't trying
1355 |1213 |01:41:19 ~-~-> 01:41:26 |to get an STD. So this is one I don't touch. I look for it to kind of confirm
1356 |1214 |01:41:27 ~-~-> 01:41:31 |market breath and and continuity in a price run. If there's a divergence
1357 |1215 |01:41:31 ~-~-> 01:41:39 |between it, I will have it on the radar and as a contributing factor for
1358 |1216 |01:41:39 ~-~-> 01:41:43 |determining whether or not, I want to take a partial on the trade. If I start
1359 |1217 |01:41:43 ~-~-> 01:41:49 |seeing the Dow go against with the NASDAQ and the SNP are dealing, I will
1360 |1218 |01:41:51 ~-~-> 01:41:56 |be cautious, but I won't probably trade with a complete closure of the trade,
1361 |1219 |01:41:56 ~-~-> 01:42:00 |because there's a divergence in the Dow, because it's only 3030 stocks that make
1362 |1220 |01:42:00 ~-~-> 01:42:04 |up the indices, but if I do see a divergence, speaking in the NASDAQ, and
1363 |1221 |01:42:04 ~-~-> 01:42:08 |I'm long, and the Nasdaq has a higher high, and S P does not have a higher
1364 |1222 |01:42:08 ~-~-> 01:42:12 |high, but chances are I'm probably going to take a partial off the trade because
1365 |1223 |01:42:12 ~-~-> 01:42:20 |it's it's indicating a weakening momentum or in agreement with the Scale.
1366 |1224 |01:42:20 ~-~-> 01:42:26 |Don't even look at it, because she'll just keep doing more of it. The any
1367 |1225 |01:42:26 ~-~-> 01:42:32 |divergence that I see in the Dow, I take it with a grain of salt. But if I see a
1368 |1226 |01:42:32 ~-~-> 01:42:38 |divergence, and there's an inability of the NASDAQ and the s, p to make the same
1369 |1227 |01:42:38 ~-~-> 01:42:41 |highs, to me, that's a more valid SMT divergence in numbers. It's it's
1370 |1228 |01:42:41 ~-~-> 01:42:47 |indicating there's potentially much more weakness that may not be visible to the
1371 |1229 |01:42:47 ~-~-> 01:42:49 |other traders that are trading it because they're not comparing and
1372 |1230 |01:42:49 ~-~-> 01:42:54 |contrasting the difference between the three averages. So I think it's
1373 |1231 |01:42:54 ~-~-> 01:42:58 |reasonable to see the Dow go up and disrupt this smooth area here, because
1374 |1232 |01:42:58 ~-~-> 01:43:04 |what's happened down here. This is all that jaggedness, right? So this down
1375 |1233 |01:43:04 ~-~-> 01:43:09 |here is smooth. So it's, to me, it just makes sense for them to basically get
1376 |1234 |01:43:10 ~-~-> 01:43:19 |all this smoothness disrupted back to ES. Same thing here we have these
1377 |1235 |01:43:19 ~-~-> 01:43:25 |relative equal highs. I would expect them to disrupt that as well. Even
1378 |1236 |01:43:25 ~-~-> 01:43:31 |though we had a higher high here, we can go back to this one. You know, you can
1379 |1237 |01:43:31 ~-~-> 01:43:35 |see the conditions are still being there. We have smooth, relative, equal
1380 |1238 |01:43:35 ~-~-> 01:43:38 |highs here. If that was what you're framing on, that's great. But if I'm
1381 |1239 |01:43:38 ~-~-> 01:43:41 |going to refer back to this one, it's in comparison to that, and it still meets
1382 |1240 |01:43:41 ~-~-> 01:43:42 |the criteria.