ICT YT - 2024-08-15 - ICT 2024 Mentorship - Lecture 09-summary

# Summary

ICT YT - 2024-08-15 - ICT 2024 Mentorship - Lecture 09

ICT discusses market analysis and trading strategies, emphasizing the importance of identifying fair value gaps, managing risk through proper position sizing and trading discipline, and waiting for confirmation from other indices before making trading decisions. They share their market observations and trade setups, highlighting the significance of patience and waiting for the right setups rather than forcing trades or trying to pick tops. ICT also provides insights and trading strategies based on market analysis, cautioning against buying breakouts and emphasizing the importance of waiting for confirmation before trading.

 Action Items

[ ] Study potential trade setup around gap at 352 and look for retest

[ ] Annotate levels and watch for retest of opening price high

[ ] Log and backtest price action from the session to identify patterns

 Outline

# Trading NASDAQ with focus on opening range.
- Unknown Speaker discusses NASDAQ opening gap and trading session hours.
- Trader analyzes opening price movement, seeks buy opportunities.

# Trading strategies and identifying potential gaps in a stock's price.
- Trader identifies potential entry point based on volume imbalance and previous high/low levels.
- The speaker analyzes a gap in the market, looking for signs of a potential breakout or reversal.
- The speaker waits for a better entry point before buying, focusing on liquidity and the gap's potential for an inversion.

# Market behavior, gap analysis, and trading strategies.
- ICT highlights the importance of identifying fair value gaps and low points for potential buying opportunities.
- ICT emphasizes the need to have rules in place for buying and selling, such as paying attention to price and liquidity.
- ICT analyzes price action, looks for signatures to support trading ideas.
- ICT analyzes gaps and runs, looking for logic to form a trading setup.
- ICT waits for more information before making a trade decision, focusing on the opening range and liquidity sell side.

# Stock market trends and potential shorting opportunities.
- ICT views the recent price action as a potential trap, holding traders hostage for higher prices.
- ICT prefers to wait for confirmation of a breakout before entering a trade, citing the risk of pain for buyers.
- ICT expects ES to reach new highs as NQ holds its own.
- ICT predicts NASDAQ will break down, ES fails to reach highs, and a gap forms.
- ICT believes election years lead to a built-in premise of market growth, making it harder to short.

# Trading strategies and market analysis.
- The speaker prioritizes logic and criteria over emotions when making trading decisions.
- The speaker wants to be in a setup that they have framed with logic, rather than just following the crowd.
- ICT is unsure of market direction, but trades on potential inversion level.

# Trading strategies and market analysis.
- The speaker believes it's risky to chase price runs without a valid reason, as they often reverse and lead to losses.
- The speaker prefers to wait for a retracement before entering a trade, rather than trying to catch a potentially unsustainable price run.
- ICT argues that NASDAQ is overbought and forming an enemy term high, while Dow and NQ are forming a potential gap.
- ICT discusses technical analysis and trading, mentions Samsung Galaxy Note issue.

# Trading strategies and market analysis.
- ICT wants to see a spike or wick above the inversion of Vega to validate the inversion fair value gap.
- Trader seeks to identify potential gap area for trading.
- ICT expresses gratitude for patience in trading, seeking to capitalize on market moves.

# Stock market with mixed signals.
- ICT says they might want to look at everything, but don't need all three averages to buy.
- ICT suspects market manipulation through retracement and live streaming.
- ICT expects a final pump before the stock reaches its target range.

# Trading the Dow Jones with a focus on gap analysis and potential price action.
- Trader seeks confirmation of market move before entering a trade.
- ICT expects price to reach 1015 handles above the current high, potentially setting up a retracement into the opening range.
- ICT believes the gap in the afternoon could be treated to, with a potential target of 145 if it doesn't happen before 1 PM.
- Dow tends to make sudden, high-level moves, but then cancels divergence with other indices.
- Trader prefers to see SMT divergence on ES or NASDAQ before trading, and looks for reasons for roll-over and acceleration.