ICT YT - 2024-09-05 - ICT Tutelage Journal Log Sep 4 2024-summary

# Summary

ICT YT - 2024-09-05 - ICT Tutelage Journal Log Sep 4 2024

The ICT Tutelage Journal Log from September 4, 2024, focused on analyzing NASDAQ's trading using a one-minute chart. Key points included the importance of focusing on the current trading day and understanding price action. ICT highlighted a fair value gap from August 13, 2024, and explained the significance of the new day opening gap. He noted a discrepancy in labeling due to his poor eyesight and promised to correct it. The discussion covered various technical indicators, such as fair value gaps, liquidity pools, and order blocks, emphasizing the need for detailed chart annotations and understanding market dynamics.

 Action Items

[ ] Study examples and provide observations

 Outline

# NASDAQ Trading Analysis and Chart Review
- ICT provides a one-minute chart of NASDAQ's trading, highlighting the start of the trading day at 9:30 and the lunch hour.
- ICT reviews the daily chart on NASDAQ, covering the fair value gap from the previous day's review and the shaded area indicating yesterday's fair value gap.
- ICT addresses a student's confusion about the new day opening gap low, explaining the correct closing price and opening price for the next day.
- ICT acknowledges a mistake in labeling the gap high and low for September 4, attributing it to his poor eyesight and promising to correct it the next day.

# Fair Value Gap and Market Movements
- ICT explains the fair value gap around August 13, 2024, and the market's movement around it, including the high, low, and midpoint.
- ICT mentions the market's engagement with liquidity below the lows and the new opening gap, highlighting the importance of understanding these movements.
- ICT admits to a mistake during the live stream, failing to observe a key detail due to his eyesight issues, and promises to correct it.
- ICT highlights the fair value gap and its significance, explaining how it appears on the chart and its impact on market movements.

# Sell Side and Liquidity Pools
- ICT discusses the sell side and liquidity pools, emphasizing the importance of annotating these areas on charts.
- ICT explains the first fair value gap between 9:31 and 10:00, noting the market's movement and the volume balance.
- ICT mentions the reclaimed fair value gap and the buy side, highlighting the importance of watching the midpoint of the fair value gap.
- ICT describes the buy side deficiency and the market's movement, including the potential for inversion and the importance of understanding these dynamics.

# Institutional Order Flow and Fair Value Gaps
- ICT explains the institutional order flow entry drill and the fair value gap, highlighting the importance of understanding these movements.
- ICT discusses the market's movement after hitting the low of the fair value gap, including the bodies respecting the top of the gap.
- ICT mentions the time of day and the potential for an intermediate term retracement, noting the market's movement and the importance of understanding these dynamics.
- ICT highlights the importance of annotating these areas on charts and understanding the intricate details of market movements.

# Opening Range Gap and Market Structure
- ICT explains the opening range gap for September 4, highlighting the difference between the previous day's settlement price and the new trading day's opening.
- ICT discusses the accumulation and movement within the opening range gap, noting the importance of understanding these dynamics.
- ICT highlights the liquidity pools and the consequent encroachment of the August 13, 2024, daily inefficiency.
- ICT explains the reclaimed bullish fair value gap and the market's movement, emphasizing the importance of understanding these dynamics.

# Final Observations and Next Steps
- ICT reviews the market's movements and the importance of understanding the fair value gaps and liquidity pools.
- ICT emphasizes the importance of annotating these areas on charts and understanding the intricate details of market movements.
- ICT advises Caleb to study each component and write down any observations, promising to discuss them over the weekend.
- ICT concludes the session, highlighting the importance of understanding these dynamics for successful trading.