ICT YT - 2024-08-30 - ICT 2024 Mentorship - Lecture 21
Last modified by Drunk Monkey on 2024-08-31 08:33
| 1 | 00:01:20 --> 00:02:02 | ICT: Good morning, folks, how are You? Just made it, didn't I actually sleep watching some YouTubers almost slept through the appointed time here. All right, |
| 2 | 00:02:02 --> 00:02:11 | so let's go over here take a look at what's going on for this morning. |
| 3 | 00:02:17 --> 00:02:21 | Just throwing a double check here so I can Hear my audio. |
| 4 | 00:02:31 --> 00:02:38 | One sec. No rush today. I |
| 5 | 00:02:46 --> 00:03:09 | Okay, I can hear the old man All right, so we are looking at a 15 second chart on the right hand side and a one minute chart on the left. Okay, just got our |
| 6 | 00:03:11 --> 00:03:33 | opening. And I'm just gonna show you know, we have a huge premium gap. There an enormous pool of liquidity up here, right up in here, |
| 7 | 00:03:39 --> 00:03:57 | all right, so I'll take that off and we'll just every single time ICT puts his cursor to the chart, It jumps. You can expect It always to happen. I |
| 8 | 00:04:20 --> 00:04:32 | I don't know about you guys, but I'm ready for this weekend. I am ready. It is a holiday weekend, just so you guys know. |
| 9 | 00:04:39 --> 00:04:51 | So there won't be any live stream on Monday or Tuesday. Now, the reason why because it's it's a holiday on Monday. So because it's a holiday on Monday, I |
| 10 | 00:04:51 --> 00:05:03 | give the market a little bit of time to to iron out any kind of kinks it may have been presented because of the holiday volume. So first, first day after a |
| 11 | 00:05:03 --> 00:05:23 | holiday basis, what I'm saying? All right, so there's our opening range gap, and we are inside of the opening range, which is 930, to 10 o'clock. |
| 12 | 00:05:41 --> 00:05:43 | So if i So, if I Were a little wild in here, I |
| 13 | 00:06:30 --> 00:06:41 | no gap yet we have yesterday's first presented fairbaigh gap here in green. I just brought that over. You want to carry them through a three day life cycle. |
| 14 | 00:06:42 --> 00:06:50 | After the third day, they're no longer, in my opinion, all that terribly important. They can be used after that, you know, but I'm my interest in them |
| 15 | 00:06:50 --> 00:07:03 | kind of wanes after that. There's a small little area in here, but to be cool, lows, so a little bit of Southside resting under there too clean. |
| 16 | 00:07:14 --> 00:07:25 | Nice little pop off of the consequent crochet of yesterday's first presentation of the favorite I got formed between the beginning and end of open range. It's |
| 17 | 00:07:25 --> 00:07:27 | 930 to 10 o'clock. |
| 18 | 00:07:35 --> 00:07:46 | Now that you're laying in the morning room next to the puppies, and I was watching YouTube videos, and I disposed off, and I woke up, and I had that, that |
| 19 | 00:07:46 --> 00:07:54 | moment when you wake up in the morning, you feel like you're late for school. And I'm 52 years old, I still have that feeling, still have that feeling. So I |
| 20 | 00:07:54 --> 00:08:05 | guess that's youthfulness at the heart. I guess. So I woke up look around like, Oh no, I'm thinking it's probably like after 10 o'clock or whatever. How |
| 21 | 00:08:05 --> 00:08:07 | embarrassing I slept through. You. |
| 22 | 00:08:39 --> 00:08:53 | So yesterday we were watching to see if it could find its way up above that 19,000 scrunch it up on the charts, you can see it this level here, which formed |
| 23 | 00:08:53 --> 00:09:08 | a quadruple royaltypical high. And it just kept getting real close to getting real close to it, real close to it. And then finally, it rolled over, came back |
| 24 | 00:09:08 --> 00:09:17 | and filled in yesterday's opening range gap, and just gave up the ghost. And that's what I was saying yesterday, whenever it starts out the gate like that. |
| 25 | 00:09:17 --> 00:09:25 | And even though I outlined the silver bullet for you and go back and watch that. I even give you a link in the comment section of yesterday's live stream so you |
| 26 | 00:09:25 --> 00:09:33 | can go in and see the actual moment. If you click on it says this what you're looking for, or I'm outlining the actual setup, and then each individual PD |
| 27 | 00:09:33 --> 00:09:40 | array that you would aim for, and not even need the relative equal highs and taking, which is what I said, except it might even do it, but I would be more |
| 28 | 00:09:40 --> 00:09:52 | inclined to look for a short if it would have pumped above this level here yesterday, I absolutely would have went short. I had a conversation on the |
| 29 | 00:09:52 --> 00:10:02 | phone, a meeting with another YouTuber yesterday, and then took a nap. I didn't get a chance to see the sell off. Off, which was very, very awesome. It would |
| 30 | 00:10:02 --> 00:10:16 | have been nice to be a part of that move there, but my attention was elsewhere. So the question is, do they want to leave all that juicy red meat sitting above |
| 31 | 00:10:16 --> 00:10:27 | that 16,000 I'm sorry, 19,006 9495 area going into this holiday weekend. Or did he go up there and serve them up on the altar? |
| 32 | 00:10:36 --> 00:10:47 | So as you can see, we have no fair value gap performed on the one minute chart for today's so far we haven't had that, but look at that pop right there off of |
| 33 | 00:10:47 --> 00:10:57 | yesterday's first presented grave gap. Now find that and like off find that in anything else's stuff. I'm reminding you all today, because I'm still seeing it |
| 34 | 00:10:57 --> 00:11:08 | in all the comment sections. ICTs concepts are not his concepts, and they're renamed, repackaged things. Find it. Get $5 million you want to do, expose |
| 35 | 00:11:08 --> 00:11:19 | videos, expose every PD array, where it came from, where the logic came from, if it ain't mine, if I didn't codify it, where it come from. So these are all |
| 36 | 00:11:19 --> 00:11:29 | tradable. And notice the pop off of the consequent crochet of that after this, tapping underneath these relative equal lows and getting to the opening price at |
| 37 | 00:11:29 --> 00:11:40 | 930 see that? That right there could be your model. That could be one unique little, tiny little thing that you look for. And when you get it, guess what |
| 38 | 00:11:40 --> 00:11:48 | you're doing? You're sitting still, not doing anything. You're relaxing. You're going into a long weekend, and everybody else will be sitting here trying to |
| 39 | 00:11:48 --> 00:11:59 | figure out what it's going to do. Try to pass combines, try to keep their account alive, try to come back from drawdown, pay maybe something to that |
| 40 | 00:11:59 --> 00:12:12 | effect. Look for that one little unicorn setup so you can go on the social media and say, Look what I accomplished. Worship Me. I tell you what I've had. I've |
| 41 | 00:12:12 --> 00:12:26 | been up since probably 414, 420 something. I woke up and these puppies just don't want to sleep for whatever reason. They just staying awake. So when they |
| 42 | 00:12:26 --> 00:12:43 | get up, everybody's gotta get up. So I just went out in the morning. Room was watching YouTube. So I'm looking at this here. Extend this over here, this |
| 43 | 00:12:43 --> 00:12:54 | candle where we ran up into the opening price there, see that the very next candle, we traded down to it here. That's immediate rebalance. Then we had this |
| 44 | 00:12:54 --> 00:13:04 | one here, so it would absolutely need to start, you know, finding its Goody up and go if it wants to reach and make a higher high of the day, because the rules |
| 45 | 00:13:04 --> 00:13:15 | for immediate rebalance are the candle immediately touches. This candle is the expansion, and that candle prior to it is that the candle is high. This candle |
| 46 | 00:13:15 --> 00:13:22 | opens trade down to it. That's immediate rebounds. Usually, if it's bullish, it'll do that and then run right up and do it, maybe sometimes in the same |
| 47 | 00:13:22 --> 00:13:30 | candle or the very next candle. Here we went down one more time and closed on the body. So it's this candle Scottish and giddy and go. It's gotta be like, go, |
| 48 | 00:13:30 --> 00:13:32 | Go, go. Otherwise, that's problematic. |
| 49 | 00:13:42 --> 00:14:19 | Do Now I would like to see all of the animation, the the important price action to occur going into noon today, because there's going to be a lot of people that |
| 50 | 00:14:20 --> 00:14:31 | are just simply going to say, I'm cutting bait, I'm not going to participate. And that liquidity will draw up into a smaller, smaller amount. Therefore the |
| 51 | 00:14:31 --> 00:14:44 | algorithm won't be able to spool and then use those buying and selling interests, not pressure, because as it's going higher, it wants to be able to |
| 52 | 00:14:44 --> 00:14:53 | stack and print where orders have been paired up, buyers and sellers matching together, and it only needs one contract to do that. So look at that. It's |
| 53 | 00:14:53 --> 00:15:05 | almost like it's like it's magic, right? Immediate rebalance, and just starts to behave. You know, no matter that, it's almost predictable. Wish I could do this |
| 54 | 00:15:05 --> 00:15:15 | live. Wish I could do it in front of everybody live talk about things before it happens. I could be impressive. Then you'd love me. All right, so we're above |
| 55 | 00:15:16 --> 00:15:25 | the opening range gap here. So this is where it's important to see if we maintain once we leave it, does it have the ability to keep on going higher, or |
| 56 | 00:15:26 --> 00:15:35 | does it come right back in? Because if it comes back in, we're going for a deeper dive into the opening range gap, which is that blue shaded area in here. |
| 57 | 00:15:36 --> 00:15:42 | Look how it's behaved off of yesterday's first presented fair value gap in that beautiful, isn't it beautiful? |
| 58 | 00:15:47 --> 00:15:51 | That's the difference not drawing an after de facto on Market Replay. |
| 59 | 00:15:56 --> 00:16:05 | Let me know what you guys are doing this holiday weekend in the comment section. After I make the live streams, I go on my community post on YouTube channel, and |
| 60 | 00:16:05 --> 00:16:17 | I ask, what did you learn today in the live stream? And usually some goobers from India will say, yours rambling like a nonsensical idiot or a nut job. And |
| 61 | 00:16:17 --> 00:16:23 | that's the type of person that's never going to make any money. That's the kind of person that's never going to learn how to do this, and that's the person that |
| 62 | 00:16:24 --> 00:16:36 | I see their comment. I laugh and I broom them away from away from the channel. Can never see their comment ever again. I don't entertain morons. So we have |
| 63 | 00:16:36 --> 00:16:40 | short term sell side, short term Buy side. |
| 64 | 00:16:48 --> 00:16:50 | So we have this here, |
| 65 | 00:16:57 --> 00:16:58 | by side and |
| 66 | 00:17:07 --> 00:17:12 | and just the opposite down here, |
| 67 | 00:17:22 --> 00:17:33 | telling me trade. Sent me an email. I hope she doesn't mind me saying this, but she did really, really well using the concepts that taught you all here in this |
| 68 | 00:17:33 --> 00:17:48 | week about how to take your profits your partials, and she was able to Bank A pretty good payout. Or, I don't know if it's a payout yet, I guess she just |
| 69 | 00:17:48 --> 00:17:57 | acquired it, right? So I don't know what she's using, if it's prop, if it's her own account. I don't, I don't claim to know all that stuff, but she said she did |
| 70 | 00:17:57 --> 00:18:07 | pretty good. So hopefully she'll talk about that a in her live stream, which I'll have to watch after the fact, because I'm preoccupied here. Now, this is |
| 71 | 00:18:07 --> 00:18:19 | normal, like, this is the type of price action you see going into a holiday weekend where it's just really just muddy, it's disorganized, and I'm sitting |
| 72 | 00:18:19 --> 00:18:27 | here talking, and there's the first presentation there. So there's your first, there's |
| 73 | 00:18:42 --> 00:18:43 | your first. Though. |
| 74 | 00:18:49 --> 00:19:02 | Here I got for the day. Now we've already just swept above this minor box of liquidity, so it's important not to get all that excited about it, yet it's got |
| 75 | 00:19:02 --> 00:19:16 | to prove itself. Every new PD array while we're climbing or if we drop down, you have to refer to, what is it reaching for next? What's it trying to reach to |
| 76 | 00:19:16 --> 00:19:26 | next? Like, for instance, we have new week opening gap, August 18, above us, and we have the new day opening gap below us here. So eyeballing it halfway between |
| 77 | 00:19:26 --> 00:19:42 | that we're right in here for event horizon, and that is like this little area in between what people would expect for candlesticks and price charts and such that |
| 78 | 00:19:42 --> 00:19:50 | range. These are the types of things I can use, not all of them, but these are types of things I can use when I'm not using a chart, because I have the price |
| 79 | 00:19:50 --> 00:20:01 | points in raw form. So all I'm doing is anticipating it running to those levels, and it's not in the chart until it presents it and books that price. Yes. Okay, |
| 80 | 00:20:01 --> 00:20:18 | so we had a nice little drop down into the first fair value gap here, classic pre holiday weekend price action. It's almost like it's Schizo, like it's it |
| 81 | 00:20:18 --> 00:20:26 | doesn't, it doesn't know what it wants to do. It's like it's having an anxiety attack itself, right? Like, I don't know what I want to do. They want to go |
| 82 | 00:20:26 --> 00:20:38 | here? Do I want to go there? And that's why it's real. It's really important just to relax. Calm yourself. Thank you. Calm yourself, baby. It's okay. No |
| 83 | 00:20:38 --> 00:20:40 | one's out the kitchen. I it. |
| 84 | 00:20:56 --> 00:21:07 | So again, we're we're really expensive. Here at the open, we had an initial drop down into previous day's first fair value gap. That's what this area is down |
| 85 | 00:21:07 --> 00:21:23 | here. Then we rallied, engaged the initial buy side liquidity here, and it's at 930 we pumped above it. We formed our first fair value gap in between 10 o'clock |
| 86 | 00:21:23 --> 00:21:37 | and 930 So that's first presented the fair value gap. We came back into the opening range since making the higher high here, back into that first fair value |
| 87 | 00:21:37 --> 00:21:43 | gap. So we want to sit here and monitor how she behaves after doing so, |
| 88 | 00:21:54 --> 00:22:07 | you can see right away how This imagine how having all these levels on on your chart, if you don't know what you're looking for from from a narrative stance, |
| 89 | 00:22:07 --> 00:22:16 | like, what are you looking for? For the daily range? What are you looking for for the next real draw on liquidity, you're learning how to navigate them, |
| 90 | 00:22:16 --> 00:22:24 | because you're going to see how they behave after the fact you're studying them. Whereas I'm telling you, watch this one as it happens. Watch how this is |
| 91 | 00:22:24 --> 00:22:35 | forming. See if it respects this. It's a gradual understanding you're being exposed to. So by having them all in your chart one time, it just makes it much |
| 92 | 00:22:35 --> 00:22:44 | more confusing. If you don't have direction, if you don't have someone that's obviously outlining it, giving you some kind of framework to use around them. |
| 93 | 00:22:45 --> 00:22:52 | Otherwise, it's a whole bunch of stuff, which gives, you know, obviously the trolls and the people that are lazy, or they have something to sell, they'll |
| 94 | 00:22:52 --> 00:22:58 | say, of course, it's going to hit one of these levels. It's going to hit all of them, and they're all it's going to react off all of them too. But what I'm |
| 95 | 00:22:58 --> 00:23:09 | looking for is, if it's, if it's something that should offer as a a premium level, does it repel price lower or keep it from going higher? If it's something |
| 96 | 00:23:09 --> 00:23:19 | that's going to act as a discount, is it able to hold price up, or is it easy to easy for it to smash down through it? And then, if you take that information and |
| 97 | 00:23:19 --> 00:23:31 | you couple it with times where there are easy narratives that you're trying to put in motion behind a trade idea, everything comes together, and it becomes |
| 98 | 00:23:31 --> 00:23:40 | very easy to engage price, look for things, for setups, and you also learn how to see certain things that may be against your underlying bias, underlying |
| 99 | 00:23:41 --> 00:23:47 | premise that you want to operate in for that day, and you'll let those setups go, just let them pass without no concern for it. |
| 100 | 00:23:55 --> 00:24:02 | So I I like to have this information in raw number form in a notepad. So |
| 101 | 00:24:10 --> 00:24:23 | all my notes here is what I refer to, and I keep my chart naked, so I'm constantly getting a measurement between what price is doing, what it can do, |
| 102 | 00:24:24 --> 00:24:33 | and I'm looking at the price axis on the chart when it's naked, in relationship to where my levels are that I'm watching, which are just simply the levels that |
| 103 | 00:24:33 --> 00:24:45 | I have noted here. Okay, so it's not something that now, if we go above here, we have all this nested New Day, opening gaps, new week opening gaps, like they're |
| 104 | 00:24:45 --> 00:24:54 | layered in there. So it's going to take a real significant price move to slice through that. And if it does, that is indicative of bullishness. It means it's |
| 105 | 00:24:54 --> 00:25:02 | very, very strong if it's failed to get up there, if it fails to get there, let's say it that way. But. It gets in there, and it starts struggling to get |
| 106 | 00:25:02 --> 00:25:15 | through each time. That's not indicative of like a fast market, it's being extremely motivated to get somewhere. So when we're watching how the algorithms |
| 107 | 00:25:15 --> 00:25:25 | booking price, whenever we have all these clusters, they're always going to act as an initial draw. But once it gets to its lowest threshold, what's in this |
| 108 | 00:25:25 --> 00:25:34 | case here is this new week, opening gap low on August 18, like we would want to see, at least try to get there and touch that. But if it fails to do that, and |
| 109 | 00:25:34 --> 00:25:43 | goes below that low here, that kind of like it's, it's tipping its hand saying it's really, really difficult for me to be interested in going any higher right |
| 110 | 00:25:43 --> 00:25:53 | now. So therefore I'm going to drop. It's not a lack of buyers. It's not an imbalance in overcoming pressure of sellers that that's nonsensical. So what |
| 111 | 00:25:53 --> 00:26:05 | we're doing is, is we're we're measuring the the efficiency of price getting to these premium arrays, all of these new day opening gaps and new week opening |
| 112 | 00:26:05 --> 00:26:25 | gaps. And then, once it trades to it, does it have the wherewithal the, I guess, the pursuit to race to even higher PDA, raise. Because, in my mind, we have a |
| 113 | 00:26:25 --> 00:26:35 | long weekend coming, and anyone that was able to capitalize and thinks they're short want a really good trade, and they have their stock off above the there's |
| 114 | 00:26:36 --> 00:26:49 | four relative equal highs, which is this price level up here for that to be left intact into the weekend and then starting next weekend or next week after post |
| 115 | 00:26:49 --> 00:27:02 | holiday volume. You know, it's it's an easy thing to subscribe to as an intent to try to trade higher for that express purpose, but I'm flexible in saying |
| 116 | 00:27:02 --> 00:27:10 | that, well, it doesn't need to do it, it doesn't need to do it, but it's something that we can observe, we can study. We can watch and see how price |
| 117 | 00:27:10 --> 00:27:19 | behaves. And we have a very unique opportunity to see it this way, because we have a lot of layered PD arrays when it's all clustered up like this, in the |
| 118 | 00:27:19 --> 00:27:31 | form of those new day and new week, opening gaps so they can act as very formidable barriers. We just fell short of it right there by a little bit a tick |
| 119 | 00:27:31 --> 00:27:31 | or so I |
| 120 | 00:27:57 --> 00:28:10 | now Caleb is being instructed not the trade on Fridays going into holiday weekends. Okay, so Monday is going to be a holiday. It's like the big, the last |
| 121 | 00:28:10 --> 00:28:19 | big holiday of the summer in the United States. Everybody cooks out, everybody does their, you know, their home stuff, where they hang out with their friends |
| 122 | 00:28:19 --> 00:28:31 | and family and whatnot. So because that's going to impact trading, even though you may not live in the United States, it will impact what these price engines |
| 123 | 00:28:31 --> 00:28:38 | will do in the marketplace. So you have to be aware of that. So when do you think the high probability trade sales are going to form? You think it's going |
| 124 | 00:28:38 --> 00:28:50 | to be before we get to the last day of the week on a holiday weekend, or the Friday going into the holiday weekend. Clearly, the easier price action is going |
| 125 | 00:28:50 --> 00:29:01 | to be in the first part of the week, right? So you can treat it as kind of like a Non Farm Payroll week, alright? So we just fell short of the new week. Opening |
| 126 | 00:29:01 --> 00:29:13 | gap low here. Let me scrub it over here so you can see it just fell short of it there, and then went right back down into the range and touched the high of the |
| 127 | 00:29:13 --> 00:29:20 | opening range gap, which is 930 open always in New York, local time |
| 128 | 00:29:27 --> 00:29:47 | to tap the new day opening gap high, August 27 and the new days Opening range, gap hot or the 930 opening price. Now, what do you think this is something for |
| 129 | 00:29:47 --> 00:29:55 | you to think about. So it will give you some clarity, because next week, once we start like again, live streaming, which will be on Wednesday, I will not be live |
| 130 | 00:29:55 --> 00:30:04 | streaming Monday. I will not be live streaming on Tuesday. I'll put some. Up in a pre recorded lecture on both of those days so that we have something to watch. |
| 131 | 00:30:04 --> 00:30:12 | It won't be like really long like the live streams are, which are important, because I'm showing you live price action and I'm commenting on things that are |
| 132 | 00:30:12 --> 00:30:21 | pertinent over the same time that you if you were watching in time, it's trade these same periods of time, you wouldn't be wanting to trade a five minute |
| 133 | 00:30:21 --> 00:30:29 | period of it. In other words, you're trying to ask me to teach you something that is deep, has a lot of information that's required to kind of give you to |
| 134 | 00:30:29 --> 00:30:36 | understand you're seeking, but you don't really want to go through the process because you're impatient. Not all of you, but a few of you that complain about, |
| 135 | 00:30:36 --> 00:30:45 | can you make it short? No, there's your answer. So go watch someone else, or stop leaving these kind of comments. Because I don't, I don't entertain them. |
| 136 | 00:30:47 --> 00:30:58 | What do you think happens? No, Daniel, I haven't started using the Yeti cup you sent me. But again, thank you so much. SB, wash before I use it. The What do you |
| 137 | 00:30:58 --> 00:31:12 | think it is like when you have a market that doesn't have a lot of these layered new week and New Day opening gaps in close proximity to where the market's |
| 138 | 00:31:12 --> 00:31:24 | trading, and say it's a little bit more distance between them, what do you think that does for trading, for that individual session or that given day or week. Do |
| 139 | 00:31:24 --> 00:31:36 | you think that makes trading a lot easier and cleaner, or does it complicate things and make it harder for price to move around? It makes it cleaner, and it |
| 140 | 00:31:36 --> 00:31:46 | allows price runs to have much more elongation and the moves to protract further out, and it's like being on an interstate highway real early in the morning |
| 141 | 00:31:46 --> 00:31:57 | before the nine to fivers and the people that work jobs get out there and go in that congestion and traffic jams. So how do you know when it's going to be a |
| 142 | 00:31:57 --> 00:32:06 | hard, struggling, consolidation type of market environment where the markets are just real short lived when they run higher or lower, and it's this. This is what |
| 143 | 00:32:06 --> 00:32:16 | you're seeing when it has all this type of stuff here, when it real close and it's giving you lots of speed bumps, basically, okay, it impedes the flow and |
| 144 | 00:32:16 --> 00:32:26 | speed of the algorithm, because the algorithm is constantly going to refer back to these, if it's within the time frame I'm telling you when to use them. But |
| 145 | 00:32:26 --> 00:32:35 | here's the wonderful thing, when we have conditions like this, where it's layered like that, and the market just shows no respect whatsoever, and it |
| 146 | 00:32:35 --> 00:32:44 | starts going through them, or down through them aggressively. It's indicating that it's showing you its hand. It's tipping its hand to you that, hey, look, |
| 147 | 00:32:45 --> 00:32:57 | yeah, these may be here, and you should be aware of them, but I'm absolutely in a hurry to get somewhere. So if you know what you're looking for as a draw, or |
| 148 | 00:32:57 --> 00:33:12 | if you know what you're looking for, it's where a setup or something that should materialize as a target. It helps you, kind of, like, mute the natural tendency |
| 149 | 00:33:12 --> 00:33:22 | to see, okay, these, each one of these things should be respected, and it should slow it down. But I don't want to see it slow it down. I don't want to see it |
| 150 | 00:33:22 --> 00:33:31 | slow down because, because if we can see it trade through them, it's indicating that it's disrespecting them. And that's exactly what I want to see if I'm |
| 151 | 00:33:31 --> 00:33:39 | bullish or bearish. If I'm bearish, I want to see this counter raise this, get this destroyed and demolished. You want to see it just go through like a |
| 152 | 00:33:39 --> 00:33:46 | juggernaut, just rip right through them, because the algorithm saying, I'm not worrying about these right now, I have somewhere to go, and it usually is |
| 153 | 00:33:46 --> 00:33:58 | indicative of some kind of imbalance below the price, or some kind of liquidity pool that they're really going to target that okay? And when I say they like, I |
| 154 | 00:33:58 --> 00:34:07 | don't know if you started watching my videos, but they are the hand that's that's the people that own the algorithm. Okay, you don't see them. They're not |
| 155 | 00:34:07 --> 00:34:14 | on CNBC. You're never going to know their name. You're never going to see their faces. You're never going to meet them. You're never going to get hired by them. |
| 156 | 00:34:14 --> 00:34:28 | Okay, so they are the holders of these price engines. It's their Casino. So when I say that the algorithm does things without binding selling pressure, it's |
| 157 | 00:34:28 --> 00:34:38 | true. But there are times when they will go in and influence them manually, and it'll just, they'll just totally disregard what you would expect to see. And I |
| 158 | 00:34:38 --> 00:34:45 | can fall victim to that just as well as you can fall victim to that. In other words, what you trust and see and see in price action, it can just completely go |
| 159 | 00:34:45 --> 00:34:56 | boom, upside down, and they'll see like a FMC rate announcement type reaction or a Non Farm Payroll. They're all heavily, manually intervened. That's not an |
| 160 | 00:34:56 --> 00:35:04 | absence of buying and selling. That is not an absence of liquidity. That's not an absence of inch. Everybody wants to trade those periods. All of them did, but |
| 161 | 00:35:04 --> 00:35:17 | your brokers, many times, they lift the opportunity for you to get in there. So if they keep you from executing, and they're all doing at the same time, because |
| 162 | 00:35:17 --> 00:35:24 | they don't want to take on that underlying risk where someone can do what you guys are doing with funded account challenges, over leveraging gambling and |
| 163 | 00:35:24 --> 00:35:34 | calling it skill, and you can get lucky. Now, what happens when you have the entire world all focused on the same time an event, expecting it to do what move |
| 164 | 00:35:34 --> 00:35:41 | a lot, and you get a chance to over leverage in that well, they could be booking you, if they're be booking you, or if they're be booking the majority of their |
| 165 | 00:35:41 --> 00:35:50 | client but base in their brokerage firm. And you can frown on that all you want, but that's the reality. What happens sometimes they could stand to lose a lot |
| 166 | 00:35:50 --> 00:36:08 | and potentially go broke. But that's, you know, that's probably some of those conspiracy level conversation is probably not fit for someone on YouTube, better |
| 167 | 00:36:08 --> 00:36:26 | suited on a more controlled medium, which I'm actively trying to put together. Put that way, it's not going to be a Twitter space. Alrighty. Then let's see. |
| 168 | 00:36:31 --> 00:36:41 | So we found our way up to what looks like the high. Is it? No, we just one tick away from the high on the new week, opening gap right there. |
| 169 | 00:36:49 --> 00:37:01 | So it takes a lot for me to have all this stuff in my chart, because I'm a purist. I like to have things clean, and it allows me to kind of like, dial in |
| 170 | 00:37:01 --> 00:37:11 | and get in sync with price, especially since I'm only using my laptop here. I'm sitting on my bed, so I don't have all the real estate in front of me. I don't |
| 171 | 00:37:11 --> 00:37:20 | have the advantages of seeing all the other time frames all at the same time. I'm literally just looking at a one minute chart, and I'm looking at a 15 second |
| 172 | 00:37:20 --> 00:37:27 | chart. And there's no other information I have here, except for my notes. I |
| 173 | 00:37:40 --> 00:37:40 | America. |
| 174 | 00:37:46 --> 00:37:58 | Guy says You talk too much, and trust me when I tell you this, nobody cares or is interested in anything about your family or your life, dude, go kick rocks, |
| 175 | 00:37:59 --> 00:38:09 | because the guy that you said that too in my comment section. Me, I don't care what you think. You're here watching my stuff. I don't even know who you are, |
| 176 | 00:38:09 --> 00:38:20 | and I'm not interested in knowing who you are. I've had more comments about the the past, stories and things I had to endure than the things I'm teaching for |
| 177 | 00:38:20 --> 00:38:31 | trading because people can resonate with that, because they feel the pressure. So we failed to get just up to that one by one tick. So again, look at the high. |
| 178 | 00:38:31 --> 00:38:48 | So it's 19,006 26.50 oops, wrong one, sorry. 28.75 and that high is 29 so it was not able to get to the high of that new week, opening gap on the 18th of August, |
| 179 | 00:38:49 --> 00:39:11 | and she slipped a little bit lower, just coming back into the initial high formed at 930 and just relaxing and letting her move around. We're in the 10 |
| 180 | 00:39:11 --> 00:39:24 | o'clock hour, six minutes after 10, reaching back up into that 15 second sell side imbalanced by sign efficiency here, right there. |
| 181 | 00:39:38 --> 00:39:49 | So we had several things that, if you were someone that's bullish, or if you're looking for things, to go back in to the price action today and study and do |
| 182 | 00:39:49 --> 00:39:59 | framework around the setups for like a this is where it bounced, this is where it traded from, and up to a specific PD array, and you start hunting the old |
| 183 | 00:39:59 --> 00:40:09 | price action. Okay, anything that jumps out at you while you're doing these things each day, each week, you're going to start seeing things that your eye |
| 184 | 00:40:09 --> 00:40:16 | will jump to. And it's like, I remember seeing this before, usually that's the one you want to start with. That doesn't mean that's going to be your model for |
| 185 | 00:40:16 --> 00:40:25 | life. It just means that that's the that's the easiest one to start working with and seeking it in price action. And then if you can get really good collection |
| 186 | 00:40:25 --> 00:40:34 | of old data where you can find those conditions, and you're journaling them, like we talked about this week, and you sugarcoat it with positive self talk and |
| 187 | 00:40:34 --> 00:40:41 | how good it felt for you to see it when you really weren't able to see it live. And you're tricking your subconscious then, because you've activated reticular |
| 188 | 00:40:41 --> 00:40:48 | activating system, when you watch live price action, you just simply tape reading, you'll start seeing those conditions that promote the likelihood of |
| 189 | 00:40:48 --> 00:40:57 | that scenario forming in price action. And if you're not looking for it, you'll miss it, right? But if you're aware of what it is, it could be doing, then you |
| 190 | 00:40:57 --> 00:41:06 | can sit there and wait for it to form. And it's really encouraging to see things that, especially if you're not sharing with other people, don't tell somebody on |
| 191 | 00:41:06 --> 00:41:13 | social media. Yeah, I think this is what's going to happen, because then now what you've done is you increase the level of needing it to be right, needing it |
| 192 | 00:41:13 --> 00:41:22 | to pan out, because you don't want to lose face in front of someone else's witness. You don't want to tell somebody what you think, and then if it doesn't |
| 193 | 00:41:22 --> 00:41:32 | pan out, you now, just put money behind that, the kind of money that pays out forever, which is scar tissue. You're you're sharing your view about something, |
| 194 | 00:41:32 --> 00:41:39 | and they may be critical of you, or they may share that with someone else, and you may be confiding in them, and then someone else will come back. Yeah, I |
| 195 | 00:41:39 --> 00:41:47 | heard you doing so and so and so and so, and then what did you do? You just compound a very small little exercise where it should have no meaning to you |
| 196 | 00:41:47 --> 00:41:56 | emotionally, and should never have the ability or have the power to negatively impact you. Now you've supercharged it, where you being wrong about it, where |
| 197 | 00:41:56 --> 00:42:05 | you didn't have black money on it, but you shared it, but you're sharing it because you want other people that you shared it to come back and say, Wow, you |
| 198 | 00:42:05 --> 00:42:15 | were right about that, instead of just simply journaling that and then doing those exercises of continuously feeding that journal your positive self talk, |
| 199 | 00:42:15 --> 00:42:24 | recognition of the the framework and the setups that you're Looking for, and you're tricking your brain into thinking that you have lots of experience seeing |
| 200 | 00:42:24 --> 00:42:34 | these things form live by doing that in the journal so it overcomes negative toxicity, if you allow it, but if you let it come in in other ways, like talk |
| 201 | 00:42:34 --> 00:42:41 | about your opinion, sharing your opinion on social media, or going back out on social media when you get it right, and championing that stuff in front other |
| 202 | 00:42:41 --> 00:42:56 | people that doesn't that doesn't bode well for your trade psyche. It's you're feeding this desire to be significant or liked or respected. You don't need to |
| 203 | 00:42:56 --> 00:43:05 | do all that stuff, trust me, you could do everything in a world right and make everything the right decision, and do it live and call it in front of there's |
| 204 | 00:43:05 --> 00:43:17 | going to be people saying, Yeah, but you didn't do this because they suck. Alright? So see how disorganized it is. It's real sloppy. Just it's got some |
| 205 | 00:43:17 --> 00:43:30 | reactions in here, but it just simply doesn't want to run cleanly, and it's because you have all this conjecture or traffic, it's all this PD arrays appear |
| 206 | 00:43:30 --> 00:43:42 | in the new week, new day, opening gap, and we opened up rich. So the premium opening were still very, very expensive. And folks that want to chase it, |
| 207 | 00:43:42 --> 00:43:52 | they're they're pulling back against the market to unsettle them. And why do they want to do that? Because their sell stocks can be accumulated for buying |
| 208 | 00:43:52 --> 00:44:03 | purposes, and they're not letting the people that are short hold on to any shorts, because they keep taking out the short term highs here and here and here |
| 209 | 00:44:03 --> 00:44:13 | and here, and anyone that has any strong convictions on a very, very short term timeframe there, it's causing them doubt. It's causing them concerns, should I |
| 210 | 00:44:13 --> 00:44:30 | be in here at all? Should I be doing anything today? It feels choppy. The chop is real funny. It's time. Distortion is what it is. Oh, ICT. Do you have a name |
| 211 | 00:44:30 --> 00:44:43 | for everything? Yep, wouldn't you expect that from the leading trading authority, the Encyclopedia Britannica, of trading technical terms, that's me. |
| 212 | 00:44:51 --> 00:45:01 | So we had relative equal lows here, and this little fair value gap and a bullish order block. We've accomplished all that by running. Into it here. So what I'm |
| 213 | 00:45:01 --> 00:45:10 | launching is, does it have the wherewithal to get back above the new week opening gap of August 18, or do we slip back into the opening range gap, which |
| 214 | 00:45:10 --> 00:45:27 | is this blue box here as a reminder. I don't want to be here long today because I don't want to be here long. That's the reason it's enough. That's enough |
| 215 | 00:45:27 --> 00:45:36 | reason for it. Okay, I don't owe you any explanations. It's Friday on a holiday weekend, and I'm actually tired. And if I don't get a nap before my wife wants |
| 216 | 00:45:36 --> 00:45:43 | to be doing something later on this afternoon, get out of the house, I will regret it. It's nothing worse than being jerked around looking at stuff you |
| 217 | 00:45:43 --> 00:45:52 | don't want to be looking at. And you wear your emotions on your face because you're tired, and your wife says, What's wrong with you? I didn't take a nap. I |
| 218 | 00:45:52 --> 00:46:03 | live streamed too long. Had to keep up with the people's expectations that don't love me. I have to win their love. I oh so fun. |
| 219 | 00:46:16 --> 00:46:31 | Nobody cares about your life and your family, bro. Get to the topic of hand, get to the point. Point is only some individuals that watch this information and |
| 220 | 00:46:31 --> 00:46:39 | study it are going to be successful with it. Most don't have the right mindset, and that's what we've been primarily focused on this week. Small, little volume |
| 221 | 00:46:39 --> 00:46:46 | imbalance. I'm watching that one in here, see if has any respect for that or gets below entry to as a premium array. Okay? |
| 222 | 00:47:03 --> 00:47:07 | Back in New Day opening gap On the 16th of August. I |
| 223 | 00:47:40 --> 00:47:54 | I just trying to get a little bit more real estate to go back through and see what's available for liquidity and any efficiency. It's probably thinking, how |
| 224 | 00:47:54 --> 00:48:01 | can you see and all that, these 52 year old eyes, you'd be surprised what they can see. |
| 225 | 00:48:08 --> 00:48:13 | This off, put it up here, and |
| 226 | 00:48:22 --> 00:48:42 | I so when you have trading conditions like this, okay, you have a holiday end of week, so it's Friday, there's no trading obviously on Saturday and Sunday for us |
| 227 | 00:48:42 --> 00:48:55 | until 6pm opening. And I'm not interested in trying to do a lot of acrobatics and a lot of short term type of trading, not trying to do a lot of hit and run |
| 228 | 00:48:55 --> 00:49:05 | strategies. We're buying and selling, buying and selling, buying and selling. If I can't determine where I think it's likely to go into for a daily or four hour |
| 229 | 00:49:05 --> 00:49:16 | or one hour pool of liquidity or inefficiency, then I won't trade it at all on a day like this going into a holiday. So in this instance, where some people will |
| 230 | 00:49:16 --> 00:49:24 | say ICT says, never trade on Fridays, or I still say or they'll say I see says, never trade on Monday, but look at what I did today, and that's completely out |
| 231 | 00:49:24 --> 00:49:36 | of context. Okay, it's completely taken out of context. Generally, I like to make money before Friday, because Friday can be like the last little bit of a |
| 232 | 00:49:36 --> 00:49:43 | daily candle on it. Let's say, if you look at a daily candle and it's a bullish day, usually the opens real close to the low of the day, and the close is real |
| 233 | 00:49:43 --> 00:49:53 | high and near the high of the day. So if you're trading on a week that's been bullish, wouldn't it be reasonable to expect that Friday doesn't really do too |
| 234 | 00:49:53 --> 00:50:03 | much in terms of volatility? It probably won't make a higher high on the week. It probably won't. Have a really, really deep retracement. So it's going to work |
| 235 | 00:50:03 --> 00:50:12 | in probably majority of what Thursday's range was, and may not even do much more than its extreme high or low, or all it does is make just a little bit of a |
| 236 | 00:50:12 --> 00:50:23 | higher high, but doesn't really run any further. So I want to be doing things where I have the largest percentage of probability in my favor that will afford |
| 237 | 00:50:23 --> 00:50:33 | me the the luxuries of having all of this range in front of me that can operate and engage in. But then, now, if you couple that with what we're seeing here |
| 238 | 00:50:33 --> 00:50:44 | today, where it is a Friday ready to go into a long weekend, nobody should be trading heavy on this day, because there's a lot of individuals that are not |
| 239 | 00:50:44 --> 00:50:53 | actually engaging at all today. They're not trading. And when I say, Who am I talking about? Very deep pockets, big, big level traders are not in here. They |
| 240 | 00:50:53 --> 00:51:01 | may be managing open positions. I'm not saying that they're not doing that, but they're not looking at this and say, wow, you know what, man, I have to get in |
| 241 | 00:51:01 --> 00:51:11 | here like I have so much FOMO. I gotta get in here before the market closes day, because I just feel like I'm going to be lucky that that's not what that's not |
| 242 | 00:51:11 --> 00:51:20 | what they do. But most people don't think that way. They think, well, the markets are moving around and bro, every day is a money making trading day. So |
| 243 | 00:51:20 --> 00:51:32 | there it is, and that's not what professionals think. Professional mindset is different from faux fessional like a faux fur coat. Faux fessionals Is what |
| 244 | 00:51:32 --> 00:51:40 | you're used to hearing the opinions from people that act and talk like they know something and they don't have anything. They have hindsight. They have the |
| 245 | 00:51:40 --> 00:51:48 | ability to talk about something in Market Replay, or they sell courses, or they use rented empty for servers. They're using a fake broker, all those types of |
| 246 | 00:51:48 --> 00:51:58 | things. People will listen to them because they're showing you rented, leased cars, and they're going away to Airbnb homes and renting them. I'm not talking |
| 247 | 00:51:58 --> 00:52:04 | about you, Patrick, so don't get all offended and tore up, because that's not actually I'm talking about I can see how you might be thinking that, or your |
| 248 | 00:52:04 --> 00:52:15 | listeners might be thinking that. But the opinions of folks like that, they have such a huge influence over neophytes, folks that don't know what they're doing. |
| 249 | 00:52:16 --> 00:52:29 | And if you take the logic of how you should behave or manage risk or invite risk into into decisions financially. Is that sound logic? And I would respectfully |
| 250 | 00:52:29 --> 00:52:41 | submit to you, no you want to have someone talk to you that tells you where you're likely to get hurt, when is the market likely to give you so much of a |
| 251 | 00:52:41 --> 00:52:53 | struggle to perform. It doesn't matter what type of trading style you use, it's going to be a really challenging market condition. And by having the the X ray |
| 252 | 00:52:53 --> 00:53:01 | view of having new day opening gap and new week opening gaps known to you in close proximity to where the markets are trading when you're watching them, and |
| 253 | 00:53:02 --> 00:53:10 | then you couple that with an economic calendar event like we have here, we're going to go into a long weekend trading is is going to be lackluster, the volume |
| 254 | 00:53:10 --> 00:53:18 | is going to be really, really light. And that's not saying, See, he's talking about volume. So that proves it's buying and selling pressure. No, if I'm going |
| 255 | 00:53:18 --> 00:53:27 | to want to engage in price action. And I want to be a busy trader like I want to be in there short term trading intraday, up down, going all around. I want to be |
| 256 | 00:53:27 --> 00:53:37 | in a environment that has a lot of participants, because the algorithm will move around, and the more interest in buying and selling in that day, not that given |
| 257 | 00:53:37 --> 00:53:49 | moment, as it spools higher or lower, there's always individuals going in and chasing it in that stacking of mark to market booking of price. It doesn't |
| 258 | 00:53:49 --> 00:53:59 | matter how many contracts or or the volume is at those individual given prices you're you're putting too much emphasis on the things that don't matter. You |
| 259 | 00:53:59 --> 00:54:08 | have to have this stage for price to move around. And if you don't understand how that stage is set, or what it looks like, what are the conditions that |
| 260 | 00:54:08 --> 00:54:19 | promote very clean price runs, you won't be able to trade efficiently. You'll you'll trade the same way every given day, and then when it's bad, you'll over |
| 261 | 00:54:19 --> 00:54:27 | trade, over leverage, thinking that the next trade is going to be the one, the next trade is going to be the one, not realizing that you're trading inside of |
| 262 | 00:54:27 --> 00:54:38 | the mud, okay, or you're trying to trade with a bias or a level of expectation that market is just simply not going to yield to you and give it to you. And the |
| 263 | 00:54:38 --> 00:54:48 | way you get to that understanding is by doing back testing, looking at old price moves inside, having the logic of the new day opening gap or new week opening |
| 264 | 00:54:48 --> 00:54:58 | gaps on your charts, and then studying how it behaves, and then look at the economic calendar. Do we have holidays? Do we have big news events earlier in |
| 265 | 00:54:58 --> 00:55:11 | the week or later in. Week, and that's all going to be impactful. All right, so we're back into and just underneath the first grade I got for today. |
| 266 | 00:55:20 --> 00:55:21 | This is actually right here. |
| 267 | 00:55:28 --> 00:55:38 | But intraday, morning session, day session, that low is here. So if it's going to go there, it would clean that up, but I'm watching to see if we get back |
| 268 | 00:55:38 --> 00:55:47 | above the fair value gap formed first today, between 931 and 10 o'clock, which is this one right here. |
| 269 | 00:55:55 --> 00:56:03 | So how do you prevent yourself from going on tilt and pushing, pushing, pushing, and having a sharp knife, a really good trading model. You honed it. You |
| 270 | 00:56:03 --> 00:56:11 | sharpened it up back, testing forward, testing, demo, trading it. So now here you are. You got your sharp edge. You have your knife. You got an edge in the |
| 271 | 00:56:11 --> 00:56:21 | marketplace. How do you dull it? Make no money and blow your account? Push, push, push, real hard in environments where you have all this congestion of New |
| 272 | 00:56:21 --> 00:56:34 | day, new week, opening gaps, and it's showing you that it's not trying to do very much beyond them. And look at the look at the trading. It's reaching |
| 273 | 00:56:34 --> 00:56:48 | higher, sure, but it's a lot of reactive retracements, and it just feels like it's schizo erratic, let's just say that way, so it's easier, probably more |
| 274 | 00:56:49 --> 00:57:05 | politically correct term. But you don't ever really want to be pushing your your edge. You're only doing that one Fridays going into long weekends, because the |
| 275 | 00:57:05 --> 00:57:15 | market tends to be a little bit more fickle on these days. Now, there are times in the past where I've expected it to be lackluster, to simply not do much at |
| 276 | 00:57:15 --> 00:57:26 | all, and then all of a sudden it just boom. You know, there's this big rush of price, wanting to go somewhere real fast. And it makes a really good, |
| 277 | 00:57:26 --> 00:57:35 | fascinating study. And most, most of the times, I'm usually not in those types of movies, because I've already reclined myself to the Hey, I'm not going to do |
| 278 | 00:57:35 --> 00:57:44 | anything that day because it's Friday, going into a long weekend. And I might look at price on my hand like private students look at certain things, or I'll |
| 279 | 00:57:44 --> 00:57:50 | just say, You know what I'm going to do with everybody else with new, deeper pockets are going to do. They're just going to roll their stops to where it's |
| 280 | 00:57:50 --> 00:57:58 | manageable and just let it go where it's going to go. And simply don't worry about what price is doing on a day like today. But because my son's learning, |
| 281 | 00:57:58 --> 00:58:08 | how can he learn these lessons unless I do it over the actual price action and explain the logic, the mindset around that given type of scenario, both |
| 282 | 00:58:08 --> 00:58:17 | technically and from an economic calendar stance, and then we also have the holiday impact. So holidays are absolutely going to be detrimental to you, if |
| 283 | 00:58:17 --> 00:58:29 | you don't consider how the lack of volume and interest in pushing, you know, a lot of trades into that given session or that given day you want to be in days |
| 284 | 00:58:29 --> 00:58:41 | where there's no impediment that's going to cause deep pockets, big, big entities, not everyday traders on Twitter or Facebook or Instagram. That's not |
| 285 | 00:58:41 --> 00:58:48 | what I'm talking about. I'm talking about institutional level order flow coming through. If that's not when we piped into the marketplace the days that you're |
| 286 | 00:58:48 --> 00:58:53 | watching price, chances are you're not going to get really clean price |
| 287 | 00:59:02 --> 00:59:27 | on so right now we have a sell side, imbalanced by sign efficiency here, and we have liquidity resting rate below here, and the first fairbay gap of today is |
| 288 | 00:59:27 --> 00:59:42 | right there. We just traded down into yesterday's first presented fair value gap. So we are looking at today's here, and again, this chart on the right hand |
| 289 | 00:59:42 --> 00:59:49 | side to 15 second chart, and this is yesterday's first presented pure bank gap between 931 10 o'clock in the morning. |
| 290 | 01:00:00 --> 01:00:18 | I think about how many times that price has engaged the August 18, new week, opening gap here, with that new day, opening gap inside. I mean, go back through |
| 291 | 01:00:18 --> 01:00:28 | because we're Friday now, when session closes today, sometime on Saturday or sometime on Sunday. Really go through your charts and see how many times and at |
| 292 | 01:00:28 --> 01:00:40 | what time of day the market traded into this area here. How did it behave? What type of formations Did you see? Was there any price runs that you could have |
| 293 | 01:00:41 --> 01:00:53 | framed a setup on what? What did it aim for? What did it do in terms of the time from a fair value gap or a low being taken before it starts running in opposite |
| 294 | 01:00:53 --> 01:01:02 | direction? How? How much time did it take for something like that, and how much of a range did it move? And can you frame a logic of how it went to this level. |
| 295 | 01:01:03 --> 01:01:11 | This started a run, either going up into it and dropping my kids, or when it was above it, and dropping down and going back higher, you know, framing those types |
| 296 | 01:01:11 --> 01:01:25 | of things in your back testing. That's the that's the first beginning point of you finding a limitless supply of setups. I'm going to use an analogy. I know |
| 297 | 01:01:26 --> 01:01:37 | something probably. I've never done that before. I've never used an analogy before. But we're going to go back to the hunter's premise. Okay, your dad is a |
| 298 | 01:01:37 --> 01:01:47 | hunter. Okay, you're a young boy. He wants to show you the ways of a hunter. So he says, Son, get up, get out of bed, get dressed, get your coat and boots on. |
| 299 | 01:01:47 --> 01:01:58 | Follow me into the woods. So he walks you around. He shows you the the tracks in the snow, and says, This is what the deer track looks like. And you go out there |
| 300 | 01:01:59 --> 01:02:08 | on a Saturday morning, and then new snow falls overnight, and he walks you back out there on Sunday morning. And where do you expect to see those deer tracks |
| 301 | 01:02:09 --> 01:02:17 | where you saw him the last time? Because if you see him in the same location, that means that they're walking in that area, and that's that's a route, kind of |
| 302 | 01:02:17 --> 01:02:30 | like a a pathway that they keep using. So it would be logical for you and your dad to put a hide, okay, usually, like a tree stand or a little if you want to |
| 303 | 01:02:30 --> 01:02:41 | spend a little bit more money, you it's called a hide, and you place all of your stuff in there and spray all your descent all over us that way, that the smell |
| 304 | 01:02:41 --> 01:02:51 | of you aren't on all this stuff, and then that way you can come back. The following weekend, we were early in the morning, and you sit up there and you |
| 305 | 01:02:51 --> 01:03:04 | wait, and you wait for the deer to come through that pathway that you know you have seen evidence you have, you went back testing into the snow, looking for |
| 306 | 01:03:04 --> 01:03:12 | this, this, this deer track. So you know what it looks like. And it keeps happening the same way all the time in this general vicinity. Well, that's, |
| 307 | 01:03:12 --> 01:03:26 | that's a framework for a setup. That is a model the hunter is establishing his hunting model is, I'm going to hunt this setup. The setup is, the deer keeps |
| 308 | 01:03:26 --> 01:03:38 | going through this area. I know it's there because I keep seeing its tracks. Well, the algorithm is teaching you, oh, sorry, I'm teaching you that these |
| 309 | 01:03:38 --> 01:03:51 | setups form around specific elements of price, around specific times of the day, and if you can focus on understanding what they are that are uniquely |
| 310 | 01:03:51 --> 01:04:01 | interesting to you, some of every hunter out there doesn't like to hunt everything. I have a cousin of mine. He's like he hunts a lot of stuff, but he's |
| 311 | 01:04:01 --> 01:04:10 | hunted a bear before he's he's killed one with a bow, and I believe he's shot one, but he's not in a hurry to go out and do it again, because it rushed on him |
| 312 | 01:04:11 --> 01:04:21 | like and he said it was scary to see how fast this thing was running at him, how fast it got from where he was seeing it. And he he hit it, but then they started |
| 313 | 01:04:21 --> 01:04:29 | running at him. Now in my mind, I'm thinking, if you hit it, why would it? Why would it want to come at you like I expected to run away? He said, No, this |
| 314 | 01:04:29 --> 01:04:39 | thing was growling like crazy. He had to pull his pistol out and shoot it several times as it was coming at him. And that's what put it down. He doesn't |
| 315 | 01:04:39 --> 01:04:46 | want to hunt bear anymore, so every hunter out there doesn't want to hunt everything, but they do have their preferences. So what does that mean? They |
| 316 | 01:04:46 --> 01:04:54 | have their unique model as a hunter. They want to hunt deer, they want to hunt elk, they want to hunt turkeys, and they maybe they're a duck hunter, something |
| 317 | 01:04:54 --> 01:05:09 | to that effect. So what you want to do is go back and. Price action and look for the setups that give you this repeating phenomena. Okay? And I'm going to cover |
| 318 | 01:05:09 --> 01:05:18 | a lot of those things next week, so that way, at the end of next week, you're going to have a whole lot more understanding on what it is you're trying to do, |
| 319 | 01:05:18 --> 01:05:28 | or at least at the very minimum, it'll give you a starting point. The following week, you'll know what you're going to start looking for there, because I'm |
| 320 | 01:05:28 --> 01:05:39 | going to give you a lot of different ways to use higher Time Frame charts and break down with a market top down approach, where you can go in and say, This is |
| 321 | 01:05:39 --> 01:05:47 | what I can see happening, and because it's based on the logic I'm going to teach you next week, you'll be able to have the confidence that you hear me talk with |
| 322 | 01:05:47 --> 01:05:56 | all the time, and my students also, they know their model. And because I have so many different models, and I have the ability to make a new model every single |
| 323 | 01:05:56 --> 01:06:03 | day, because it's based on principles that the algorithm is going to behave a certain way around certain types of events. And it sounds esoteric right now, |
| 324 | 01:06:03 --> 01:06:13 | but I promise you next week, you're gonna be like, Wow, this isn't complicated. This is really easy, and it'll give you a mindset that it doesn't matter if you |
| 325 | 01:06:13 --> 01:06:22 | miss a move, it doesn't matter if you have hardship and you go into a little bit of a tailspin. You lose some today or tomorrow, or you lost some money this week |
| 326 | 01:06:22 --> 01:06:30 | trying to do something, and you realize that you weren't ready to do that, or you just did it wrong, and you're probably beating yourself up about it. Okay, |
| 327 | 01:06:31 --> 01:06:42 | just relax, because when you're when you're a neophyte, and you don't know really what you're looking for, and you're mostly reacting, or you're following |
| 328 | 01:06:42 --> 01:06:50 | the the opinions of a of a live streamer, or you're following signals in a discord channel or a telegram channel, where you're part of a Facebook group, or |
| 329 | 01:06:50 --> 01:07:01 | you're part of something okay, and you're not the the catalyst that gives you the setup. You're just reacting. You're like a like a poor person with a pan |
| 330 | 01:07:02 --> 01:07:11 | holding out saying, Please feed me. I don't want any of my students like that. I want you being able to go out and get your own food and have more than enough to |
| 331 | 01:07:11 --> 01:07:21 | take care of you your household, and maybe a friend or two, and over time, be able to bless even more people. But you have to have some kind of logic, right? |
| 332 | 01:07:21 --> 01:07:34 | That says, I know I'm going to get a setup this time this day, and I know it's going to form like this. That gives you what it gives you confidence, because |
| 333 | 01:07:34 --> 01:07:41 | you're leaning on the logic that there is an algorithm. If you doubt there's an algorithm next week, you're going to have a real hard time sleeping at night, if |
| 334 | 01:07:41 --> 01:07:50 | you think you want to take the opposing side of that argument, because there is an there is an algorithm, and you'll be able to see these setups coming way in |
| 335 | 01:07:50 --> 01:08:02 | advance. And what the higher form of understanding would be is that you know when they're going to form before the calendar date gets there. Think about |
| 336 | 01:08:02 --> 01:08:13 | that. Think about that, and contrast that with everything you see in retail trading. In retail trading, they have to wait until an indicator flashes |
| 337 | 01:08:13 --> 01:08:23 | something on the screen. It has to compress and calculate old price moves and number crunch, and it gives you some kind of an output, and that output is the |
| 338 | 01:08:23 --> 01:08:36 | catalyst. It's the the triggering mechanism for you to determine whether you need to be buying or selling. I'm light years ahead of all that stuff. I'm |
| 339 | 01:08:36 --> 01:08:46 | looking for setups on days that aren't even in this month's calendar, and it's not always the economic calendar, but those are the ones I can easily |
| 340 | 01:08:46 --> 01:08:53 | communicate to students, which is why it's important for you to know the economic calendar. You should always on the weekend. Look at the next month to |
| 341 | 01:08:53 --> 01:09:03 | come. Where's the heavy hitters? Where's the medium impact in the high impact news drivers. When are the days that doesn't have any news before the high |
| 342 | 01:09:03 --> 01:09:12 | impact news drivers, because those days that don't have news and there's a big, heavy impact news driver later in the week, like FOMC, something like that. See, |
| 343 | 01:09:13 --> 01:09:24 | the public thinks the casinos open on that day. The casinos open on non farm, Non Farm Payroll Friday. But the professional, not the faux fessional, the faux |
| 344 | 01:09:24 --> 01:09:31 | fessional, or the gurus, the wannabe mentors, the people out there, they're trying to play influencers, and they're not really making any money, and they're |
| 345 | 01:09:31 --> 01:09:41 | not doing anything that technically is sound. They're just gambling. They will be expecting to trade heavily in those on those days. And yes, I teach that my |
| 346 | 01:09:41 --> 01:09:46 | students can trade those days after the initial shock wave of whatever that news impact driver is, |
| 347 | 01:09:48 --> 01:09:56 | but not before, and hold no opinions going into them. So you have to that way. You're very flexible, you're you're liquid. When you go into the marketplace, |
| 348 | 01:09:56 --> 01:10:03 | you're going to you're going to take the information that is given to you initially. And usually on those impact news drivers, the first run is the fake |
| 349 | 01:10:03 --> 01:10:16 | one. So we let the suckers, like PT Barnum, we let them come in, get altered, get altered states when they get wrecked. Okay, and what they've done and made a |
| 350 | 01:10:16 --> 01:10:24 | mistake is trying to be the first mouse that gets cheese. You just walk up gingerly at this the trap is snapped and that that first mouth is dead, you just |
| 351 | 01:10:24 --> 01:10:32 | casually walk over there and pick up the cheese and just go about your business. That's how I teach my students to trade. That's how I look at the marketplace. I |
| 352 | 01:10:32 --> 01:10:44 | want someone to go in there and get wrecked first. And there are times as I'll teach you next week, how you can anticipate that event happening before it even |
| 353 | 01:10:44 --> 01:10:56 | forms in price action, you'll know where the setups form. I'm promising you next week you're going to learn how to anticipate setups, where and how they form. So |
| 354 | 01:10:56 --> 01:11:04 | that means you have opportunities, and when you see how you're able to find them, and I'll give you schools of thought that way. It's not just one or two of |
| 355 | 01:11:04 --> 01:11:15 | them, like, if you've studied my core content, lectures on this YouTube channel, the 2016 2017 lecture notes, all through that stuff. Okay, if you go through |
| 356 | 01:11:15 --> 01:11:25 | that and you also look at month forest content, and that's month four core content. It should say 2016 month four core content, or something to that |
| 357 | 01:11:25 --> 01:11:34 | effect. I don't remember exactly what it was, but at best, the month I introduced the initial PD array matrix, where these are the PD arrays that |
| 358 | 01:11:34 --> 01:11:43 | you're going to look for, all you have to do is come to the conclusion of which one you're going to use. Which one makes most sense to you? Okay? And that would |
| 359 | 01:11:43 --> 01:11:51 | be something all of you should do this weekend is watch that month for content. It's about eight videos. They're not very long. You can you can go through them |
| 360 | 01:11:51 --> 01:12:02 | just this over tonight, Saturday and Sunday, and then relax, come in to Wednesdays, next live stream next week. Because I'm not again. I'm not live |
| 361 | 01:12:02 --> 01:12:10 | streaming on Monday. I'm not live streaming on Tuesday. In any video I put up on Monday and Tuesday, I promise it'll be short by like 15 minutes, because I want |
| 362 | 01:12:10 --> 01:12:20 | you to try to absorb what I put out this week, because I covered a lot of important, salient things to help you overcome the natural tendencies that |
| 363 | 01:12:20 --> 01:12:29 | traders and developing traders go through and never get past and or beyond, because they just can't do it. They allow their their personal baggage, their |
| 364 | 01:12:29 --> 01:12:38 | problems, their character flaws, to unsettle them or hold them back. So we did a lot of psychological discussions this week, which are pertinent and they're |
| 365 | 01:12:38 --> 01:12:45 | useful, not if you're someone's just trying to get in here and try to push a button. You know, those type of people, they're, they're, they're going to be |
| 366 | 01:12:45 --> 01:12:51 | bums the rest of their life. That's their mentality about everything they expected to be given to them for free and easy and fast, and they should be able |
| 367 | 01:12:51 --> 01:12:58 | to learn right away. First thing to talk about, and that's just semi optics, an idiot. It's an idiot. It's what it is. And you can't train idiots. I can't teach |
| 368 | 01:12:58 --> 01:13:08 | an idiot. I can't fix stupid. So the folks that have gone through and there's a lot of the feedback that was saying, Hey, you're talking about me right now, |
| 369 | 01:13:09 --> 01:13:17 | like you're describing me this week. And it was comforting for them to hear me talk about these things, because it helps them see that, yeah, these are things |
| 370 | 01:13:17 --> 01:13:26 | that are not just happening in your head. You're not the only one that's ever experienced those things, and I've shared many things open and candidly, see how |
| 371 | 01:13:26 --> 01:13:37 | we're using the new day opening up, well, on the seventh, 27th here, and then the high of it, and then the new day opening got here. I mean, think about look |
| 372 | 01:13:37 --> 01:13:47 | over here. What support resistance level you see over there? None. But look how it's respecting them. It gives you an x ray view of what price should be doing. |
| 373 | 01:13:47 --> 01:13:55 | And then if you think back how when I was on baby pips, and I was showing you trade examples, and I was recording myself trading in all the years, I was on |
| 374 | 01:13:56 --> 01:14:06 | Twitter and recording trade executions and putting songs behind them, this is the info. Information that you don't see. I wasn't trying to share it with |
| 375 | 01:14:06 --> 01:14:15 | anybody, and it was fun. It was entertaining for me. Before I even did mentorships, like, in 2016 the the comments were always entertaining. Like, how |
| 376 | 01:14:15 --> 01:14:23 | is he able to see? Like, what is he seeing? These are just some of them. I have lots of other tools. I have lots of other things that I'm not going to teach all |
| 377 | 01:14:23 --> 01:14:31 | that stuff, but look at what you can accomplish with just having this information on there. It gives you structure. It gives you a way of determining |
| 378 | 01:14:32 --> 01:14:45 | what price could be influenced by. And it's not retail level anything, and it's never going to fall out of fashion, because it's based on very generic |
| 379 | 01:14:45 --> 01:14:58 | principles of how a market opens, how a market has inefficiency, if there's an inefficiency, if you have, if you're if you're deficient, okay, in vitamin C, |
| 380 | 01:14:59 --> 01:15:10 | you're. Gonna get sick, it's you're gonna be weak. You're gonna be more susceptible to getting diseases and illnesses. So if you fortify your body with |
| 381 | 01:15:10 --> 01:15:21 | vitamin C supplements, and your diet is enriched with having grapefruit, orange, things of that nature, and anything citrus that will boost your vitamin C level, |
| 382 | 01:15:21 --> 01:15:33 | so therefore your immune system will be strengthened and increased, and you'll be able to stave off diseases and or illnesses. Well, how if the market, okay, |
| 383 | 01:15:33 --> 01:15:45 | if the market is a living organism, if we're just going to personify it for a minute, say it's a living organism, if it's deficient on something and the life |
| 384 | 01:15:45 --> 01:16:02 | blood of the market is liquidity, it needs it to to live. It moves on the basis of liquidity. If there isn't any liquidity in a certain price range, that means |
| 385 | 01:16:02 --> 01:16:19 | it's inefficient, and they can do things like lure engineer, promote the ideas that, hey, maybe traders should use this level for an area to buy or protect the |
| 386 | 01:16:19 --> 01:16:30 | open position They may have or likely to encourage them to put on that's engineering liquidity. That's a real thing. Inducement is some jokers that got |
| 387 | 01:16:30 --> 01:16:40 | leaked content from me and created my mentorships. And that is not a real thing. Okay, just like Smart Money traps are not a real thing. If you think you're |
| 388 | 01:16:40 --> 01:16:48 | seeing a Smart Money track. You're just looking at things without the proper understanding of my smart money, my Smart Money concepts. You're you're |
| 389 | 01:16:48 --> 01:17:01 | deficient in understanding, you're inefficient in logic and sound ICT logic. You don't know what you're doing. So when you have a full panoramic view of what |
| 390 | 01:17:01 --> 01:17:12 | price is going to refer to, refer to, how it's going to behave, what it's going to use, what it can use to draw interest in pulling the the heart strings, in |
| 391 | 01:17:12 --> 01:17:26 | the greed strings of every trader's natural tendencies. That will cause them to chase price, it'll cause them to move their stop and put it in an area that they |
| 392 | 01:17:26 --> 01:17:36 | are trained by books and other educators out there that use retail logic to use a high or relative equal highs, because that's resistance. And everybody thinks |
| 393 | 01:17:36 --> 01:17:47 | the same way. They're putting their stop above there or below or lows the same way. And the market will go to these areas of inefficiency because it's it's |
| 394 | 01:17:47 --> 01:18:01 | deficient in having its life blood, which is liquidity in that area. So it's going to place it there. It has nothing to do with buying and selling, the the |
| 395 | 01:18:01 --> 01:18:09 | mannerism in which the price will behave, and how it goes to these inefficiencies, or where the liquidity is, because there's buying and selling |
| 396 | 01:18:09 --> 01:18:16 | going on, the price is going to keep being offered, higher, higher, higher, higher. If it's going to go higher, it's going to keep going here, regardless of |
| 397 | 01:18:16 --> 01:18:25 | how much buying is going on. Because all it needs to do is have one contract traded, one person willing to buy it, one willing to sell it at one contract |
| 398 | 01:18:25 --> 01:18:34 | volume. So the open interest in the selling side and the buy side, it's paired. There you have, you have one trade mark to market, so your time and sales will |
| 399 | 01:18:34 --> 01:18:42 | be marked and your priced. And my chart, your chart. Everybody else is watching around the world, they'll see that that fluctuation between the last tick that |
| 400 | 01:18:42 --> 01:18:52 | was marked to market and the new next trade, the difference between that our charts is showing that fluctuation. I'm not looking at these candlesticks and |
| 401 | 01:18:52 --> 01:19:01 | measuring or trying to measure, how many contracts are being bought or sold, but that's just the beautiful red herring for people, because they think that's |
| 402 | 01:19:01 --> 01:19:09 | what's going on, and it's not. The market is simply going to go to a level that you don't understand the mechanics for why it needs to go there, but it's for |
| 403 | 01:19:09 --> 01:19:20 | the Express purposes of providing liquidity and or patchwork. Spill the beans this week. They're they're putting in a little bit of a patch where there's been |
| 404 | 01:19:20 --> 01:19:23 | no real efficient delivery of price, |
| 405 | 01:19:25 --> 01:19:37 | and once it trades in there, it's, it's considered, okay. Now I've, I've at least done my job. I'm, I'm personifying the algorithm. I've done my job as a |
| 406 | 01:19:37 --> 01:19:47 | mode of delivering efficiency for that price range. Now, where do I go next? Okay, well, if I went up to that inefficiency, is there a reason for me to trade |
| 407 | 01:19:47 --> 01:19:56 | to the liquidity above that inefficiency, or am I going to stick to the existing cell model that, or cell program that I'm in and I'm going to reprice lower to |
| 408 | 01:19:56 --> 01:20:05 | engage lower prices, not because it sees. Your stops, not because it knows how many contracts are sitting below, oh, low or above an old high. It doesn't have |
| 409 | 01:20:05 --> 01:20:14 | that capacity to do that. It doesn't know that. And the people that try to, well, this is why it's a scam. ICT stuff is a scam. There is no algorithm. You |
| 410 | 01:20:14 --> 01:20:21 | have literally no understanding of what's going on. You have no idea what's going on. And it sounds arrogant and sounds condescending, but it's the truth. |
| 411 | 01:20:21 --> 01:20:29 | You don't know what's going on. And what's worse is when people work in the financial industry and they'll say, Dude, I was working on the floor, or I was a |
| 412 | 01:20:29 --> 01:20:38 | I was a desk trader, or I was a market maker. No, you're a dealer. You're dealing in price that you don't make. You can only buy and sell in the delivery |
| 413 | 01:20:38 --> 01:20:47 | of price that's being piped into you. You don't originate price. You don't do that. You're dealing with it. You're dealing just like anybody else is doing it. |
| 414 | 01:20:47 --> 01:20:57 | You're just taking one buyer and one seller, okay? And you might facilitate the other side of that. Okay, you're doing you have to do nothing different than we |
| 415 | 01:20:57 --> 01:21:04 | are. If I buy something, there's going to be a seller on the outside of that, or I'm not getting filled. How's that any different you're dealing? But they call |
| 416 | 01:21:04 --> 01:21:16 | these people market makers, and they feel like they're part of this, this upper echelon, top tier. They're the superior minds. And I have had people with those |
| 417 | 01:21:16 --> 01:21:23 | titles literally challenge me, and then look at what they do, and they can't even call the market right? Because they're dealers, they're not traders. |
| 418 | 01:21:23 --> 01:21:31 | They're not able to see what the market's going to do. They have no analytical studies behind them. They just make the market. Oh, I was an options market |
| 419 | 01:21:31 --> 01:21:39 | maker. I did this, and I did that. I was a crude oil market maker. Okay, tell me what the market's going to do. Let's sit in front of a live, live price feed, |
| 420 | 01:21:39 --> 01:21:45 | and let's talk about what, what motor market is going to do. How's it going to behave, how's it going to gyrate around? What's it going to reach for? Because |
| 421 | 01:21:45 --> 01:21:55 | they will fail miserably. Perfect example, okay, you can take an industry professional, okay, you can take an industry professional. Someone's done |
| 422 | 01:21:55 --> 01:22:05 | something that you'll never be able to do now, which is floor trade. Floor traders. I have a lot of them in my mentorship. They were actually in the pits |
| 423 | 01:22:05 --> 01:22:15 | at the CME and Chicago Board trade. These fellows were down there, and ladies, they were down there. And they had the unique perspective of being able to get |
| 424 | 01:22:15 --> 01:22:24 | the feel when the markets were shifting. And they didn't have charts. They had a little notepad, tiny, little Mead notepad, okay, or whatever their ticket book |
| 425 | 01:22:24 --> 01:22:33 | was, and they would scratch down. They'd had their floor pivot numbers, which is, you know, back then, that was a big thing. But they had no technical |
| 426 | 01:22:33 --> 01:22:42 | mechanism. What they were plugged into is they were right there. And when the pits came alive, and there was a lot of excitement and AC, man, dude, we're on a |
| 427 | 01:22:42 --> 01:22:49 | run. We're running. All they had to do is look at yesterday's high and yesterday's low, and where are we at with the floor pivot numbers they have, |
| 428 | 01:22:49 --> 01:22:56 | okay, we have enough range between where we're at right now. It looks like it's running. And there's more. There's more runners coming to the pit right now. |
| 429 | 01:22:56 --> 01:23:04 | Bonds are running like they're running. Where's it going to go? Well, we're at s1 right now. So it could go where to the central pivot level, or it can go to |
| 430 | 01:23:04 --> 01:23:13 | r1 or r2 and then guess what? If r1 is just above yesterday's high, they got a real good chance of getting a run to yesterday's high. And once they pop that, |
| 431 | 01:23:13 --> 01:23:25 | boom, that's their buying. That's not technical. That's this very simple logic, but see when that's what you're doing and you get caught up in that fever of |
| 432 | 01:23:25 --> 01:23:32 | chasing that, that excitement everybody, everybody's buying right now, look at all the buying coming in, buying, buying, buying, that all they gotta do is |
| 433 | 01:23:32 --> 01:23:43 | scalp that momentum. And now, now those same individuals that are dinosaurs, now, like me, we were trading back, and when it was open out cry pits, all you |
| 434 | 01:23:43 --> 01:23:55 | young, young guys and gals, this new era of electronic trading, and have it right now mentality, you would never survive back then, it would have chewed up |
| 435 | 01:23:55 --> 01:24:07 | and spit you out. But now, the luxuries that they had and the afforded insight that the unique perspective that they had being there when you're in the pits |
| 436 | 01:24:07 --> 01:24:14 | and it's quiet and it's like real lackluster trading, and all of a sudden, all these runners are coming in with tickets. Oh man, there's a lot of excitement. |
| 437 | 01:24:14 --> 01:24:24 | What's price, don't it's going up? Well, what's what's it probably reaching for. They know what yesterday's High was. They know what yesterday's low was. And |
| 438 | 01:24:24 --> 01:24:33 | they see what the orders are. They see it. Everybody wants to get out at this level, at this level, so they can see it's like dog piling, Dog Pound, dog |
| 439 | 01:24:33 --> 01:24:45 | piling. Okay, so the four guys on the floor, they would capitalize on that momentum, but they don't have that advantage now, and that's why the majority of |
| 440 | 01:24:45 --> 01:24:54 | them, unless they use the things that I'm teaching you here, which is the bridge between how that open app product activity was useful, then you can still see it |
| 441 | 01:24:54 --> 01:25:04 | here in the price action. You just don't hear it and you don't have all the shoving. In the crazy commotion around you, which I'm sure Jacks you up with |
| 442 | 01:25:04 --> 01:25:14 | adrenaline. Okay, I would, I would have loved to be a part of that, like I would have loved to have that experience, but that's why most floor traders suck most, |
| 443 | 01:25:14 --> 01:25:22 | if you're one of them listening, okay? And I'm sure I have some of them that are listening, and there's people like, top step guys, I'm not taking a shot at you |
| 444 | 01:25:22 --> 01:25:31 | guys. Okay, I'm not. I love the fact that you're out there doing you're doing, but I think if you were honest, you would tell the stories that were very |
| 445 | 01:25:31 --> 01:25:39 | similar and in line with what I'm saying here. It's a hard bridge to cross from being in the pits having that advantage of getting the feel for what the |
| 446 | 01:25:39 --> 01:25:47 | market's going like. You're, you're literally holding your finger on the pulse the marketplace. If you're down in the pits, like you had the first feel of when |
| 447 | 01:25:47 --> 01:25:57 | things are happening. And people like myself, where we had charts or quote tracks, you know, we really are, like behind, like the market's already running |
| 448 | 01:25:57 --> 01:26:04 | and it's now, oh yeah, it's probably done, but you have it. You see all the rush. If you're a floor trader back then, years ago, you have all that insight |
| 449 | 01:26:04 --> 01:26:16 | that off floor traders don't have, but that role has been flipped. Now, those same floor traders are forced to trade technically from a chart, and the |
| 450 | 01:26:16 --> 01:26:24 | majority of them can't do it. They can't they might have, once in a while, you know, success here and there, but it's such a hard paradigm shift to come away |
| 451 | 01:26:24 --> 01:26:34 | from, because that's how they made their money. You know, those those seats on the floor, they're not cheap, and you have to survive. And a lot of people might |
| 452 | 01:26:34 --> 01:26:42 | make, you know, make enough money to afford to get down there, but they don't stay there unless they're company placed. I mean, the folks that go down with |
| 453 | 01:26:42 --> 01:26:51 | their own money, you can't, you can't, you can't survive unless you know you're doing and the cost associated with it is just, it's not, it's not feasible for |
| 454 | 01:26:51 --> 01:27:01 | someone who doesn't have a real edge. And back then, their edge was the pulse of the market, the fevered pitch of something occurring, and what's it likely |
| 455 | 01:27:01 --> 01:27:16 | reaching for? Oh, well, they have not had the opportunity to take the logic that they had back then and place it into a chart. They're looking at technical |
| 456 | 01:27:16 --> 01:27:24 | things like V wop and volume profile and all this other stuff that doesn't really do anything for you. It's just an excuse for you why you're doing |
| 457 | 01:27:24 --> 01:27:31 | something you have to replace what you used to do. Or if you're a brand new student and they were traded before, that's a perfect excuse for you say, Okay, |
| 458 | 01:27:31 --> 01:27:38 | I'm that's my thing. I'm looking for. But that doesn't equate to the same things I've been teaching for decades, saying, This is why the markets really move. |
| 459 | 01:27:38 --> 01:27:51 | This is what the market's really trying to do so a troll will take away. ICT said, top step traders suck, not the traders that use it, but the folks that |
| 460 | 01:27:51 --> 01:27:58 | operate and run there, like Hogue and Michael patak. And I don't know if there's any other four traders they might be, they might be working like in the back end |
| 461 | 01:27:58 --> 01:28:08 | of it, but I'm not saying that they suck, because I'm trying to troll them, ask them, frame it in a proper, respectful tone inquiry in their chat, and say, you |
| 462 | 01:28:08 --> 01:28:19 | know, ICT said you probably had a hard time or experience hardship because the added advantage of being on the floor and you can get the fever pitch of The |
| 463 | 01:28:19 --> 01:28:29 | order flow that's coming through pit, I promise you, if they're honest, they'll tell you it's a very hard transition from doing it that way and going to |
| 464 | 01:28:29 --> 01:28:40 | technical charting off the floor and the things that they had as an advantage there that we would never be able to have. It's not afforded to them anymore. So |
| 465 | 01:28:40 --> 01:28:48 | they're forced to look at things with a different perspective, and because they have nothing else to go on, except for now, I gotta look at a chart. So what? |
| 466 | 01:28:48 --> 01:29:01 | What's popular right now? VWAP, volume, profile, those types of things. And none of that stuff, in my opinion, doesn't really hold water. They're just excuses, |
| 467 | 01:29:01 --> 01:29:10 | like anything else would be, to get into a trade. All right, so we've had all this jaggedness here on the outside, and we're going into 11 o'clock. There's |
| 468 | 01:29:10 --> 01:29:23 | lots of sell sides sitting right under here, so it should dive under that. So we came up to this inefficiency here, dropped down, used all the levels. Didn't |
| 469 | 01:29:23 --> 01:29:25 | quite get into that on anything here on the upside. |
| 470 | 01:29:27 --> 01:29:36 | But look at this day right now. Take a screenshot of what you have on your chart, not mine your your screen with all of the data. It's over here. Is that a |
| 471 | 01:29:36 --> 01:29:45 | day you want to be trading now, any of you don't want to be a contrarian, whatever I say, or if I pose a question and you think I'm going a certain |
| 472 | 01:29:45 --> 01:29:52 | direction with it, you'll say, Yeah, of course. This is this is my thing. This is my bread and butter. This is what I do. That's why you're not good at the |
| 473 | 01:29:52 --> 01:30:00 | ICT, because you don't see it like I see it. But would you feel inclined to train in an environment like that? This is what it looks like when. Friday going |
| 474 | 01:30:00 --> 01:30:11 | into a long weekend. Is it clean price action? No, is there setups? Absolutely, but it would. But would it be reasonable for me to expect my son Caleb, to |
| 475 | 01:30:11 --> 01:30:20 | navigate these types of conditions in the marketplace? Absolutely not as a brand new, technically oriented student, not someone that's going out there already |
| 476 | 01:30:20 --> 01:30:30 | making money with it. He's learning. His aptitude for this is very much similar to what most of you have right now, and you may be new, that's about what he |
| 477 | 01:30:30 --> 01:30:39 | has. It seems easy. Oh, it's a fair value gap. There's the socks I just tagged right there. It seems easy when I'm pointing out a fair value gap and it's like, |
| 478 | 01:30:39 --> 01:30:45 | okay, I'll just go into a chart, and you realize it's not as easy. I thought it was because you haven't back tested, you haven't studied it, but you're trying |
| 479 | 01:30:45 --> 01:30:47 | to walk forward with it and test it. |
| 480 | 01:30:54 --> 01:31:05 | Mid gap is, see a little dot right there? There's your mid gap we hit that didn't hit it between before 10 o'clock, though, but we have gap closure and |
| 481 | 01:31:05 --> 01:31:08 | Three quarter of the gap potentially in play here. You |
| 482 | 01:31:40 --> 01:31:44 | see if we can roll over here and dig down one more time in that Tuesday's low. |
| 483 | 01:31:52 --> 01:32:06 | Notice how Tuesday's low here. They've used that low a lot this week. It's also in the lower end of the opening range gap. |
| 484 | 01:32:20 --> 01:32:36 | I didn't see any cuss words that I did. Oh, my goodness. ICT is turn relief. ICT is a character that some of You get wrapped up into too much. I |
| 485 | 01:33:08 --> 01:33:15 | coming back up into an old inefficiency I just carried it over into today, |
| 486 | 01:33:21 --> 01:33:31 | seeing that. Let me roll this back. I must be able to see the chart. This candlestick here, when we had this cell sign, bounce, buy sign efficiency, that |
| 487 | 01:33:31 --> 01:33:41 | low of that Sibi, is that candlestick right there. And then we traded up to it here. So all this movement here, this is a institutional overflow entry drill, |
| 488 | 01:33:41 --> 01:33:57 | minor cell side here we had a PDA right here in the draw to Tuesday's low. This candlestick is a bearish order block. That opening price right there. That is |
| 489 | 01:33:57 --> 01:34:06 | your change in the state of delivery. We were looking, I said, let's see if it rolls over and makes another attempt to get down that Tuesday's low that roll |
| 490 | 01:34:06 --> 01:34:21 | over right here. That might be your model. Get 25 handles out of that and done, if I could be honest, and hopefully I'm not, kind of like, well, I'm not going |
| 491 | 01:34:21 --> 01:34:30 | to say the person's name, because I don't want to embarrass them, and I don't want to have any kind of I don't want to have any kind of feelings brought into |
| 492 | 01:34:30 --> 01:34:42 | it, because this person knows who they are. I talked to a particular person that spends time online, and I have been trying to inspire them subtly without |
| 493 | 01:34:42 --> 01:34:54 | saying, try this, and this, this, this, be like dog mad about it. And then I'm trying to inspire them to look for setups like this, because they're very, very |
| 494 | 01:34:54 --> 01:35:04 | short term strategical strikes. Get in and get out, and it's you. Everything they're trying to do, and it's delivered to them on a silver platter real quick, |
| 495 | 01:35:04 --> 01:35:15 | just like that. And they're very fast. They don't they don't last very long. But in the beginning, these are the types of setups that I want my son to focus on, |
| 496 | 01:35:15 --> 01:35:23 | because it's immediate feedback and allows them to get what he's looking for and be done for the day, then watch the rest of the day without having any kind of |
| 497 | 01:35:23 --> 01:35:37 | need to be right. All right. So that's going to be it for today. I told you this week the lessons would be a little dry, but I covered a lot of things that I |
| 498 | 01:35:37 --> 01:35:47 | want my son to know, how to think, how to avoid certain pitfalls, and we're gonna cap it here and be done. I wish you all very pleasant weekend again. A |
| 499 | 01:35:47 --> 01:35:57 | reminder, I will not be live stream on Monday or Tuesday next week. The next live stream will be Wednesday. I'll determine if it's going to be a London |
| 500 | 01:35:57 --> 01:36:05 | session or not, but we're going to do a London session sometime next week, and I'll just leave it up to how I feel going into Tuesday and I go into bed, I'll |
| 501 | 01:36:05 --> 01:36:13 | determine what time we'll be doing it. So go to my community tab on YouTube channel to find out what that will be for Wednesday, until I talk to you, then |
| 502 | 01:36:14 --> 01:36:15 | be safe this weekend. Do. |