ICT YT - 2024-08-19 - ICT 2024 Mentorship - Lecture 12-summary
# Summary
ICT YT - 2024-08-19 - ICT 2024 Mentorship - Lecture 12
The ICT 2024 Mentorship session on August 19, 2024, covered the daily chart analysis, focusing on the I now stack and the importance of understanding higher time frame levels. Key points included the significance of the 19,008 level, the completion of a candle, and the potential for retracement. The session emphasized the importance of intraday opportunities and the need to hold trades until the end of the day. The mentor highlighted the impact of the Jackson Hole symposium and the potential for volatility. He also discussed the importance of understanding time and price action, and the significance of the 1130 macro for trading.
Action Items
[ ] Go back and watch previous week's stream for higher time frame context
[ ] Apply lessons on holding trades from daily open to close
[ ] Consider demonstrating power of three approach with one contract
Outline
# Review of Previous Live Stream and Market Analysis
- ICT mentions that the rest of the week's live streams will be one hour long and reviews the previous day's action.
- ICT discusses the I now stack on the daily chart, referencing the 13th of August and the higher time frame analysis.
- The market reached a significant level, and ICT notes the liquidity pressures and the completion of a candle.
- ICT highlights the importance of understanding volume imbalances and the bias towards higher prices.
# Intraday Trading Strategies and Volume Imbalances
- ICT emphasizes the importance of intraday opportunities and teaching his son Caleb how to read and interpret fair value gaps.
- ICT discusses the significance of session bias and how it defines both the buy side and sell side.
- ICT explains the importance of understanding higher time frame levels and how they influence intraday trading.
- ICT mentions the need to hold trades longer and the problematic conditions that can arise in trades.
# Live Stream Content and Audience Engagement
- ICT talks about the length of the live stream and the need to keep it manageable for his son Caleb.
- ICT addresses feedback from viewers about the use of certain language and apologizes for any offense caused.
- ICT discusses the importance of having a safety net and the benefits of not over-preparing for live streams.
- ICT mentions the importance of understanding market elements and setups for intraday trading.
# Higher Time Frame Analysis and Trading Strategies
- ICT explains the importance of higher time frame analysis and how it influences intraday trading.
- ICT discusses the concept of power three and how it addresses the challenges of buying below the opening price.
- ICT outlines the steps for holding onto trades and the importance of understanding time and price action.
- ICT emphasizes the need to hold trades until the end of the day and the significance of the last hour of trading.
# Live Stream Insights and Market Observations
- ICT recaps the live stream insights from the previous day, including the importance of understanding higher time frame levels.
- ICT discusses the significance of the Jackson Hole symposium and its potential impact on market volatility.
- ICT explains the importance of understanding the daily range and the significance of the 1130 macro.
- ICT emphasizes the need to hold trades until the end of the day and the importance of understanding time and price action.
# Algorithmic Trading and Market Dynamics
- ICT discusses the role of algorithms in market dynamics and the importance of understanding price action.
- ICT explains the significance of the last hour of trading and the importance of understanding time and price action.
- ICT mentions the importance of understanding the daily range and the significance of the 1130 macro.
- ICT emphasizes the need to hold trades until the end of the day and the importance of understanding time and price action.
# Live Stream Performance and Audience Feedback
- ICT shares feedback from viewers about the live stream's performance and the success of their trades.
- ICT discusses the importance of understanding the daily range and the significance of the 1130 macro.
- ICT emphasizes the need to hold trades until the end of the day and the importance of understanding time and price action.
- ICT mentions the importance of understanding the daily range and the significance of the 1130 macro.
# Future Market Expectations and Trading Strategies
- ICT discusses the future market expectations and the potential impact of the Jackson Hole symposium.
- ICT explains the importance of understanding the daily range and the significance of the 1130 macro.
- ICT emphasizes the need to hold trades until the end of the day and the importance of understanding time and price action.
- ICT mentions the importance of understanding the daily range and the significance of the 1130 macro.
# Final Thoughts and Market Outlook
- ICT provides final thoughts on the market outlook and the importance of understanding higher time frame analysis.
- ICT emphasizes the need to hold trades until the end of the day and the importance of understanding time and price action.
- ICT discusses the potential impact of the Jackson Hole symposium and the importance of understanding the daily range.
- ICT mentions the importance of understanding the daily range and the significance of the 1130 macro.
# Closing Remarks and Next Steps
- ICT provides closing remarks and outlines the next steps for the live streams.
- ICT mentions the importance of understanding the daily range and the significance of the 1130 macro.
- ICT emphasizes the need to hold trades until the end of the day and the importance of understanding time and price action.
- ICT discusses the potential impact of the Jackson Hole symposium and the importance of understanding the daily range.