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ICT YT - 2024-08-23 - ICT 2024 Mentorship - Lecture 15

Last modified by Drunk Monkey on 2024-08-31 08:19
1 00:00:40 --> 00:01:06 ICT: Well, good morning, folks, good morning. As you can see, OBS was given ICT some challenges again. I don't know what it's going it's just it never, it never
2 00:01:06 --> 00:01:27 does it smoothly for me. So, so anyway, it is a good morning, and we're going to look at the NASDAQ here today and take this stuff up so I'm not accused of
3 00:01:28 --> 00:01:29 bragging.
4 00:01:38 --> 00:01:44 So we have a few things I want to cover real quick before we have the opening bell.
5 00:01:53 --> 00:01:55 Can you see the five minute?
6 00:02:01 --> 00:02:11 These levels in here. Okay, that's me grading the daily buy some balance, cell, sign, efficiency. I'll show you that here real quick. I'm
7 00:02:25 --> 00:02:39 this candle is high, this candle is low. I'm grading that gap. Okay, so we had multiple high, higher, high, higher, high, higher, high, finally, taken. The
8 00:02:39 --> 00:02:51 rejection block broke lower. So I'm trying to see if we have any interest to get up into the wick and or up to the open of this closed candle. This morning,
9 00:02:53 --> 00:03:09 there's a consequent encroachment of this wick as well. So there's eyeballing it, and I want to see if they can make an attempt to trade softer, not to I'm
10 00:03:09 --> 00:03:20 not trying to call a total breakdown, but I want to see if we can get some kind of a follow through on a gap opening. It looks like we're gonna have a premium
11 00:03:20 --> 00:03:25 gap opening again, so we'll be able to do our drills that I talked to yesterday.
12 00:03:35 --> 00:03:56 I got a lot of feedback yesterday's my stream, lots and lots of epiphanies. They apparently have gleaned some information that was helpful to them yesterday. So
13 00:03:56 --> 00:04:09 that's kind of cool. So we have two minutes until the opening bell. So what you want to do is get yourself set up with regulating hours, and then you want to
14 00:04:09 --> 00:04:19 put a little line here right at that and Make it prominent.
15 00:04:40 --> 00:04:46 Okay, and then where we open up at
16 00:04:51 --> 00:04:52 here in a moment, I.
17 00:05:40 --> 00:05:40 Futures broker
18 00:05:52 --> 00:06:02 the screen is not shown. Give me a second. The screen is not
19 00:06:20 --> 00:06:29 I should be able to see that. Yeah, do
20 00:06:42 --> 00:06:55 that. So we have a premium gap opening. I
21 00:07:03 --> 00:07:04 52 year old eyes.
22 00:07:20 --> 00:07:31 So the opening price here at 930 that's what's being annotated, right there, right?
23 00:07:40 --> 00:07:52 So from the opening range gap low to opening range gap high. Earlier, I was talking, and then, for whatever reason, the screen was not showing up, so I had
24 00:07:52 --> 00:08:00 to set it up again. But I was talking about these levels here. That's me grading a daily everybody got I'll show you in a moment,
25 00:08:07 --> 00:08:15 and up to the opening price right here. So here is the midpoint of that opening range gap.
26 00:08:22 --> 00:08:28 And these levels here, that's me grading the daily.
27 00:08:38 --> 00:08:49 That's this gap right here. So this candle is low. This candle is high, and I'm just measuring the quadrants between that I was talking about this candle. I
28 00:08:49 --> 00:09:03 want to see if it was gonna make an attempt to get up there or roll over. We have a premium gap, so we're going to be able to study the opening range gap.
29 00:09:09 --> 00:09:15 So we're at the middle or consequence of that Python bound cell sign efficiency on The dealing chart,
30 00:09:20 --> 00:09:26 cell side this is mid gap. I
31 00:10:30 --> 00:10:35 I have to throw this disclaimer, okay, because
32 00:11:01 --> 00:11:02 I Watch this gap in here? I
33 00:11:27 --> 00:11:31 opening range completes at 10 o'clock. So I'm annotating that with a vertical line. I
34 00:13:54 --> 00:14:08 if you notice that there is a New week opening gap from August 18, and then today's new day, opening gap within that you see that, then we have opening
35 00:14:08 --> 00:14:17 range gap below, down here. Mid part of the opening range gap is here. So mid gap, I
36 00:14:46 --> 00:15:04 so in regular trading hours, your chart looks like this previous element. Price gap open higher, initial drop down. I want to see this is the second fair value
37 00:15:04 --> 00:15:22 gap if you're using the electronic trading hours, but it's the first fair value gap in the regular, I'm sorry, yeah, the regular trading hours, so be aware of
38 00:15:22 --> 00:15:22 that
39 00:15:31 --> 00:15:41 we had not created it with the electronic trading hours data. I would be using this solely, but I'm telling you to watch this one, but because it's bridging
40 00:15:41 --> 00:15:50 both electronic and regular trading hours, or treating it like the normal protocol where there's two fair value gaps, look and see if there's an
41 00:15:50 --> 00:15:53 opportunity For it to spike up into the Higher One i
42 00:16:21 --> 00:16:22 Here we go. I'm
43 00:16:42 --> 00:16:51 a little low on energy today. I didn't sleep well last night, so that's why, uncharacteristically quiet. Some of you are probably thinking, Well, what's
44 00:16:51 --> 00:17:06 going on? I'm just sleepy. My son, Kayla, will be here later this afternoon. So I want to close this one at 1030 told you yesterday, we have a small, regular,
45 00:17:08 --> 00:17:16 scheduled time closing it at the 1030 hopefully we'll see something that forms a silver bullet. Is that way we can outline that I
46 00:17:38 --> 00:17:53 so far, nice, uniform opening session that's sold off right from the opening after a modest little rally, dropped down to the upper quadrant and the middle
47 00:17:53 --> 00:18:09 of the vocal valve cell sign efficiency from daily chart came back hit the fair value gap here, which is also The high of that daily biotechnology, cell center,
48 00:18:09 --> 00:18:09 efficiency. I
49 00:18:26 --> 00:18:36 I have few people, it's usually the ladies. They'll they'll say, you're, you're allowing other people to get you angry. I wasn't angry yesterday. That's part of
50 00:18:36 --> 00:18:42 my online persona. It's the it's the character that I use kind of like a wrestler.
51 00:18:48 --> 00:19:03 K fave, so no, I don't get I'm not angry at it a bright but I appreciate your concern. Thank you, Maya or Mia. FX, congratulations on your $15,000 payout
52 00:19:03 --> 00:19:18 using content that's awesome. I love seeing that. Okay, so we have a nice reaction off of this guy. You're want to watch this right here. That's your
53 00:19:18 --> 00:19:27 initial opening range low, and the initial opening range high is here. I
54 00:19:53 --> 00:20:08 This does work in the German DAX Thomas I spent a few mornings with. A town who guard and was shown my observations and executions in the DAX with a CFD, which
55 00:20:08 --> 00:20:20 was through a demo, because we can't trade that in the states here. But everything I teach is applicable to that as well, for the folks that are leaving
56 00:20:22 --> 00:20:29 comments about the crypto market doesn't work in crypto, my student says it does. I don't have any personal screen Street in crypto.
57 00:20:41 --> 00:21:02 So the opening range gap is still open or not filled yet to this degree. Okay, so that is what is left so far. And mid gap is this level here? So Don't, don't
58 00:21:02 --> 00:21:02 look at that. Now I'm
59 00:21:59 --> 00:22:01 bottom water. Sam, sorry.
60 00:22:09 --> 00:22:22 So Admittedly, I do like the the new week opening gap down here, and today's New Day opening gap is inside of it. We have a premium opening range gap, meaning we
61 00:22:22 --> 00:22:42 gapped up higher. The midpoint of that gap is still here. Measure the opening price down To the Previous settlement. I
62 00:24:51 --> 00:24:52 I'm watching this wick here
63 00:24:58 --> 00:24:59 to back the opening price.
64 00:25:34 --> 00:25:43 I'm not interested in seeing this be inverted like I'm not interested in seeing that Even it could, it could it could do that. I'm not interested In seeing that
65 00:25:43 --> 00:25:44 though.
66 00:26:02 --> 00:29:11 I i like to see an Immediate rebalance here That candles low. I
67 00:30:31 --> 00:30:34 Another return to the opening price, 930 opening Bell. I
68 00:31:32 --> 00:31:43 day two of the Jackson Hole symposium, back and forth. Price Action, rather lackluster Opening range So far you
69 00:32:44 --> 00:33:06 I'm forcing myself to use one screen. I have a lot of folks that are asking me how to use this information, because they see that I have a lot of monitors and
70 00:33:06 --> 00:33:13 such, and I'm trying not to use those. So that's kind of close to what you would be doing. I
71 00:33:32 --> 00:33:35 encroachment of the wick there and
72 00:35:58 --> 00:36:00 Okay, open range is complete. I
73 00:36:09 --> 00:36:16 elite been taken here. So I'm gonna watch and see, do they reject this or they want to keep it going? I don't know. Watch The New Day opening gap here to
74 00:36:16 --> 00:36:16 support The I'm
75 00:37:02 --> 00:37:03 I pass through i
76 00:37:20 --> 00:37:20 I wonder
77 00:37:39 --> 00:37:53 if they want to take it all the way up to that daily city one more time, to hide that blue line right here, sweep it new David and gap on the 20th of August, and
78 00:37:53 --> 00:38:03 hammer that one more time right there. Because all of this is balanced. This is back and forth price action. We're inside this little gap by side here, they
79 00:38:03 --> 00:38:15 stretched out real nice to get that so anything more beyond this, the only thing that would make sense for me is to touch it right here. If they go through that,
80 00:38:15 --> 00:38:22 then they're really going to just hammer it and try to take it up into this area here. And that's I'm not interested In any of that. I
81 00:38:44 --> 00:39:07 so far, we've only had one quarter of the opening range gap traded to senses up into now, the high that daily city into take you back up to real quick. That's
82 00:39:07 --> 00:39:17 this candle right here, and that long drop down candle, that's the city. So that's that level right here. So we hit that once more. I'm
83 00:42:05 --> 00:42:19 A nice, tradable runoff of that daily CB high. I'm looking at the midpoint of this outside of the outside efficiency. I don't want to see it accumulate
84 00:42:19 --> 00:42:20 anywhere in here. You
85 00:42:53 --> 00:43:07 for the record, again, Jackson Hole symposium, whenever you have that on your economic counter, just expect, like, really wild, impulsive price runs that feel
86 00:43:08 --> 00:43:12 personal. I guess that's the easiest way to Describe it. I
87 00:44:10 --> 00:44:23 Okay, so in other words, we we opened. We had this small little range. We stayed in no significant displacements higher or lower the opening range gap. We had a
88 00:44:23 --> 00:44:38 quarter of it closed in. And that's this level here you see the fibs anchor right to the opening price. Previous settlement is down here, lower third,
89 00:44:39 --> 00:44:53 middle the gap, upper quadrant of it, put it down into it here, here, and then they sent us into this run here. I do not interested in buying it today. I'm not
90 00:44:53 --> 00:45:03 interested in going long. I'm not interested in taking anything long. So. So what happens if it keeps going up? ICT, it's a move That goes without me.
91 00:46:05 --> 00:46:15 Little too wild, unstructured. I mean, it's going to levels we have noted, but I'm not trusting any of this. I
92 00:47:15 --> 00:47:20 so one more pump above the run into that Daily City High You
93 00:56:03 --> 00:56:14 Anyone long. These two lows here are going to be used for trail stop losses. They're going to try to protect their long position, and that is where a short
94 00:56:14 --> 00:56:21 term minor cell side is obviously High days by side. I
95 00:57:00 --> 00:59:37 I once more that Daily city hall I
96 01:01:24 --> 01:01:37 I don't want to take a long today. I'm not interested in doing it. But if it were bullish, it should use where it's at right now to run to the new day of New
97 01:01:37 --> 01:01:47 Day opening gap on the 22nd but it fails to do so then any attempt to get down below here should see us return back into the opening range. Yeah.
98 01:01:55 --> 01:02:03 Too much back and forth, not giving me a clean enough level to trust that it won't go through for stops.
99 01:02:17 --> 01:02:30 So we came back down touch New Day, opening gap on the 20th year. So if it were bullish, you'd want to see the next two candles run aggressively into New Day
100 01:02:30 --> 01:02:43 opening gap on this 22nd any failure to do so, it would, it might. It might take on it. It would be failing in its underlying strength. I
101 01:03:06 --> 01:03:09 Excuse me, Sorry, Guys, tired.
102 01:04:22 --> 01:04:26 A Little too slow for not liking it. So far so good. I
103 01:05:23 --> 01:05:25 Immediate, rebalance I
104 01:05:49 --> 01:05:54 you girls aren't supposed to be in here. You
105 01:06:32 --> 01:06:34 see, I failed to get That new day. Opening gap, I
106 01:07:22 --> 01:07:33 in any other day, sort of been very quick to run to the 20 seconds in the opening gap off of what was already supplied here, spending too much time
107 01:07:34 --> 01:07:53 holding itself in a premium. All of this feels it doesn't. It doesn't feel like we're going to hold those levels today. Feel like there will be lower than where
108 01:07:53 --> 01:07:53 we're At now. I
109 01:08:56 --> 01:09:03 if it goes back above the daily city High on July, 23 on the lower end. Interested. I
110 01:09:40 --> 01:09:56 I like to see it, use the 20th New Day opening gap here to stave off any run back above daily City High on the 23rd you can wick through that mid day opening
111 01:09:56 --> 01:10:01 gap. I just don't want to see it. Have a body layer top. Of the 23rd of July. You
112 01:11:06 --> 01:11:07 not an easy read today.
113 01:11:13 --> 01:11:24 Maybe some it's because I'm fatigued and tired, but I'm gonna tell you that it's the influence of Jackson Hole live, manipulation Heavy, heavy, heavy
114 01:11:24 --> 01:11:24 manipulation. I
115 01:12:00 --> 01:12:20 I like to get heavy under here and stay on the lower half of this once it gets down here with a close under it any movement back in I don't want to see it
116 01:12:20 --> 01:12:30 reaching the other half, but I should do that. That'd be nice study to see if you can get that I'm on your cell side. Or these lows here, I
117 01:12:43 --> 01:12:52 it's got to close below. We don't want to see this wicking below. It's not the same as going below it, closing, starting another candle, then coming back up
118 01:12:52 --> 01:12:53 into it. I
119 01:13:00 --> 01:13:09 i prefer to see This stay open right here. I
120 01:14:15 --> 01:14:16 be Back in Second books you
121 01:16:37 --> 01:16:46 I'm watching the wick, consequent crochet On this here, that's Where my Eye is. There.
122 01:17:20 --> 01:17:37 I would have preferred it was repricing to this, get up over here sooner, going up or hitting it now is it's still okay. I just would have rather not hit waited
123 01:17:37 --> 01:17:48 that long. Would have been better for it to go up here earlier touch it and then displace lower. But like I said, the way this week is you got to put up with a
124 01:17:48 --> 01:17:53 lot more stuff that you normally would. It challenges Your Patience. I
125 01:20:11 --> 01:20:25 It ideally doesn't want to go in the upper half of that right here, it can close it, but if it's heavy, ideally, it won't just stay in the Low half of it. I
126 01:21:21 --> 01:21:23 i really sloppy. If it's
127 01:21:34 --> 01:21:43 good, let's just start losing ground real quick and go after this stops where I have noted Southside, They wouldn't have an opportunity to pull The orders. I
128 01:22:19 --> 01:22:20 Just like That. I
129 01:23:40 --> 01:23:43 i stayed as Long as I could so
130 01:23:52 --> 01:24:06 and you can do The math on that. I'll talk to you guys on the community post later today, till I'll talk to you, then be safe. I.