ICT YT - 2024-09-24 - ICT Tutelage Journal Log Sep 24
Last modified by Drunk Monkey on 2024-09-25 09:34
| 1 | 00:00:00 --> 00:00:05 | ICT: Alright, Kayla, this is a review for your NASDAQ for Tuesday, September |
| 2 | 00:00:05 --> 00:00:10 | 24 2024 we'll be looking at just a one minute chart. We had a premium gap |
| 3 | 00:00:10 --> 00:00:15 | opening, so we had a bias for you would have been bearish in the morning |
| 4 | 00:00:15 --> 00:00:19 | session. So take a look at the chart here without any annotations. Pause the |
| 5 | 00:00:19 --> 00:00:23 | video when you're done and you want to see the rest of the annotations. Unpause |
| 6 | 00:00:23 --> 00:00:32 | the video. All right. So we had buy side here and sell side going into the 930 |
| 7 | 00:00:32 --> 00:00:36 | opening. I mentioned during the live stream. You'll notice when you watch it |
| 8 | 00:00:36 --> 00:00:40 | this high I went back in compared it to this one. So this was your primary buy |
| 9 | 00:00:40 --> 00:00:45 | side. So I noted that on a live stream, got a minor sell side liquidity pool |
| 10 | 00:00:45 --> 00:00:50 | here, and a primary sell side liquidity pool there. We had a new day opening gap |
| 11 | 00:00:51 --> 00:00:58 | here at the 20,000 zero, 72 and a quarter to 20,063 and a quarter, and |
| 12 | 00:00:58 --> 00:01:06 | then the new week opening gap high at 20,040 and first present the fair value |
| 13 | 00:01:06 --> 00:01:11 | gap here at 931 which is the minimum criteria for the opening range between |
| 14 | 00:01:11 --> 00:01:16 | 930 and 10 o'clock. So your fair value gap cannot form on the 930 candlestick. |
| 15 | 00:01:16 --> 00:01:21 | So if you look at this candlestick right here, that frames the basis for that |
| 16 | 00:01:21 --> 00:01:30 | city or fair value gap. That high comes in at 20,001 27.50 so your entry model |
| 17 | 00:01:30 --> 00:01:34 | is one tick below that. You'll notice on this candlestick right here, it did |
| 18 | 00:01:34 --> 00:01:41 | print 20,001 27.25 but you would not have gotten filled there because the |
| 19 | 00:01:41 --> 00:01:46 | spread has to be fact. So it has to print 120, 7.50 to book your price at a |
| 20 | 00:01:46 --> 00:01:52 | minimum. And you can see that on this candlestick here, at 20,001 2950 you |
| 21 | 00:01:52 --> 00:02:00 | would have definitely been filled there at 2727 25 because 2750 did book and |
| 22 | 00:02:00 --> 00:02:06 | then the market would have used the structure on this fair value gap here, |
| 23 | 00:02:07 --> 00:02:13 | this candle sticks high at 140 4.25 you can see those levels over here |
| 24 | 00:02:13 --> 00:02:20 | respectively. So your entry short would have been 120 7.25 stop to 20,001 44.25 |
| 25 | 00:02:22 --> 00:02:27 | so your risk here is 17 handles in relationship to dollar terms for one |
| 26 | 00:02:27 --> 00:02:33 | mini contract that relates to $340 per Mini. For a micro, that would be $34 |
| 27 | 00:02:34 --> 00:02:40 | risk and the profit phase of the price run down to the high of The New Day |
| 28 | 00:02:40 --> 00:02:43 | opening gap, if you're using that for your first partial order, if that was |
| 29 | 00:02:43 --> 00:02:46 | your low hanging fruit Terminus. In other words, that's all you're trying to |
| 30 | 00:02:46 --> 00:02:54 | do. That would take you to 20,072.25 or 55 handles, or for one mini contract, |
| 31 | 00:02:54 --> 00:03:03 | the profit would be $1,100 for a better than 3.23 which is a multiple of 3.23 |
| 32 | 00:03:05 --> 00:03:09 | reward to risk. So for every $1 that you would have risked, you would have gained |
| 33 | 00:03:09 --> 00:03:18 | $3.23 so basically, three to one. The other objective could have been using |
| 34 | 00:03:18 --> 00:03:25 | the new week opening gap high down here, which would have been taking that R |
| 35 | 00:03:25 --> 00:03:29 | multiple greater than five. So for every $1 that you risked, you would have made |
| 36 | 00:03:29 --> 00:03:38 | $5 or a little bit more than $5 closer to 1700 plus per Mini. So the profit on |
| 37 | 00:03:38 --> 00:03:43 | a micro at this level here, trading down below the sell side here and not even |
| 38 | 00:03:43 --> 00:03:47 | getting to the primary notice that we don't even need to trade down to the |
| 39 | 00:03:47 --> 00:03:51 | primary sell side liquidity to get first partial paying out for one mini at |
| 40 | 00:03:51 --> 00:04:00 | $1,100 or for a micro $110 for $34 risk respectively. But if you were holding it |
| 41 | 00:04:00 --> 00:04:11 | for another 32.25 handles, that's about $1,700 per mini contract, or $170 for a |
| 42 | 00:04:11 --> 00:04:19 | micro risking again on $34 ultimately trades lower below the new week. Opening |
| 43 | 00:04:19 --> 00:04:23 | gap creates a short term low trades back up to the high the new week opening gap |
| 44 | 00:04:24 --> 00:04:28 | works all of the quadrants inside of the new week opening gap breaks lower, |
| 45 | 00:04:28 --> 00:04:32 | creates another short term low trades back up into the city, and then dumps |
| 46 | 00:04:32 --> 00:04:39 | one more time into a 15 minute old low. You probably still see it on a 60 minute |
| 47 | 00:04:39 --> 00:04:44 | chart too, but that price comes in at 19,009 55.25, have we watched it happen |
| 48 | 00:04:44 --> 00:04:47 | here? I mentioned during the live stream, you might want to go back and |
| 49 | 00:04:47 --> 00:04:53 | listen to it. I mentioned, this is three drives lower. So it makes a low breaks |
| 50 | 00:04:53 --> 00:04:56 | below it makes a low break. So low whenever you see three attempts to do |
| 51 | 00:04:56 --> 00:05:00 | that into a key level where there's liquidity, like a 15. That time frame an |
| 52 | 00:05:00 --> 00:05:05 | hour or four hour that's generally a good idea to anticipate some kind of |
| 53 | 00:05:05 --> 00:05:09 | intermediate term retracement. Dad was watching it. It's wondering for the |
| 54 | 00:05:09 --> 00:05:14 | market maker, buy model. And I framed all this out all of the fair value gaps |
| 55 | 00:05:14 --> 00:05:17 | here. It's not important for you to know that, but if you want to watch that, do |
| 56 | 00:05:17 --> 00:05:20 | it, just look at the live stream. You'll see how we were using it all to frame |
| 57 | 00:05:20 --> 00:05:24 | all the buy side of the curve that take us back up to the Lakota I mentioned at |
| 58 | 00:05:24 --> 00:05:28 | the beginning of the stream. So this was the area I was focusing on, under the |
| 59 | 00:05:28 --> 00:05:32 | pretense that this was going to be a market maker buy model. So that's just |
| 60 | 00:05:32 --> 00:05:39 | the just a really nice day, technically, but the opening range gap, because we |
| 61 | 00:05:39 --> 00:05:45 | opened higher than where we settled yesterday, at 4:15pm that higher gap |
| 62 | 00:05:45 --> 00:05:50 | sets the stage for a lower delivery and price at least to mid gap, consequent |
| 63 | 00:05:50 --> 00:05:55 | encouragement. So that means that your bias in here, using the fair value gap |
| 64 | 00:05:55 --> 00:05:56 | would have been bearish. So |