ICT YT - 2024-10-02 - ICT 2024 Mentorship - Lecture 38
Last modified by Drunk Monkey on 2024-10-08 13:31
| 1 | 00:00:55 --> 00:01:05 | ICT: Morning, folks, guys, can give me A heads up on the audio you should be |
| 2 | 00:01:05 --> 00:01:11 | seeing the charts now. I'm checking Twitter see if you guys can hear me. |
| 3 | 00:01:11 --> 00:01:13 | Just give me a five by five. |
| 4 | 00:01:20 --> 00:01:21 | Momentum. Thank you. |
| 5 | 00:01:27 --> 00:01:33 | Cynthia Max, thank you, sir. All right so Eduardo, thank you. I |
| 6 | 00:01:43 --> 00:01:51 | Alright, so we have a economic news driver out in a couple minutes. Bro |
| 7 | 00:01:51 --> 00:01:54 | says, I wonder if the trade, if it didn't pay him out, if it would have |
| 8 | 00:01:54 --> 00:01:58 | been recorded and shared. He wasn't watching the blockchain yesterday. |
| 9 | 00:01:58 --> 00:02:06 | Apparently, I and you wonder why I do it like this. It's entertainment, all |
| 10 | 00:02:06 --> 00:02:12 | right, so we have the one minute chart over here, and I'm going to take all |
| 11 | 00:02:12 --> 00:02:15 | this stuff off here because it was in the recording. |
| 12 | 00:02:21 --> 00:02:29 | So you can watch that whole business pan out on the Twitter. Example I just |
| 13 | 00:02:29 --> 00:02:36 | shared, the management, the entering all this. But I want to go out to a 15 |
| 14 | 00:02:36 --> 00:02:44 | minute chart real quick, because we have a few minutes before we get to the I A |
| 15 | 00:02:44 --> 00:02:44 | news driver. |
| 16 | 00:02:51 --> 00:03:00 | All right, so going into this economic news, they use these as volatility |
| 17 | 00:03:00 --> 00:03:08 | injections, meaning that they're going to use it as an excuse, basically as the |
| 18 | 00:03:08 --> 00:03:20 | why price moved, when, in fact, it's Just manual intervention. Today is |
| 19 | 00:03:20 --> 00:03:28 | Wednesday of nonprofit payroll, and this is typically when I tell my students to |
| 20 | 00:03:28 --> 00:03:34 | sit still. Don't do anything. If you haven't made money on the week yet, |
| 21 | 00:03:34 --> 00:03:39 | don't bother trying. You can demo trade. You can paper trade tape read what not. |
| 22 | 00:03:39 --> 00:03:45 | But Wednesday, after 11 o'clock in the morning, the market gets into a very |
| 23 | 00:03:46 --> 00:03:52 | challenging market condition for new students, not experienced traders. I'm |
| 24 | 00:03:52 --> 00:03:56 | not saying that if you don't know how to trade, obviously you should be in here |
| 25 | 00:03:56 --> 00:04:02 | when the market's more inclined to be problematic. So we have cell side here. |
| 26 | 00:04:12 --> 00:04:16 | I will be short today, so I'll probably be here till like 10 o'clock, and then |
| 27 | 00:04:16 --> 00:04:25 | I'm going to bounce. I want to get caught up on some some things for the |
| 28 | 00:04:25 --> 00:04:30 | house that I want to make sure I have plenty of. If you haven't already gone |
| 29 | 00:04:30 --> 00:04:35 | out and stocked up on some things in your United States, you might want to do |
| 30 | 00:04:35 --> 00:04:46 | that, because I was out last night getting bottled water and paper towels |
| 31 | 00:04:46 --> 00:04:53 | just to get some more of them. And it was wild. It was like Black Friday, when |
| 32 | 00:04:53 --> 00:04:57 | everybody goes out and goes crazy shopping. It was just like that. All the |
| 33 | 00:04:57 --> 00:05:06 | water was gone, toilet paper. Gone, paper towels gone, and it's because of |
| 34 | 00:05:06 --> 00:05:14 | the strike with the dock workers. So just a little old service announcement. |
| 35 | 00:05:18 --> 00:05:22 | All right, so that's my focus for where I think they're going to target |
| 36 | 00:05:23 --> 00:05:28 | individual, specific liquidity. Now, above this liquidity, we have this city |
| 37 | 00:05:28 --> 00:05:40 | in here, like that. And then, if you recall what I opened up the week with |
| 38 | 00:05:40 --> 00:05:47 | with my analysis, I showed you where on the weekly chart, the blue shaded area |
| 39 | 00:05:47 --> 00:05:52 | here, on this 15 minute chart here, that is the weekly bicep. LSL, Sun |
| 40 | 00:05:52 --> 00:05:58 | efficiency, and it's the midpoint of it. So weekly busy. That was the framework, |
| 41 | 00:05:58 --> 00:06:07 | basically off of this entry, this drive down, in all this movement here, was |
| 42 | 00:06:07 --> 00:06:12 | based on just anticipating a run up into these relative equal highs right there, |
| 43 | 00:06:13 --> 00:06:19 | because it's pre market, because it's Non Farm Payroll protocol, meaning that |
| 44 | 00:06:19 --> 00:06:25 | You got to keep things real light. Try to be nimble as possible, or don't |
| 45 | 00:06:25 --> 00:06:29 | trade. If you can't be nimble because you don't know what you're doing, it's |
| 46 | 00:06:29 --> 00:06:34 | better to sit on the sidelines Wednesday, Thursday and Friday of Non |
| 47 | 00:06:34 --> 00:06:41 | Farm Payroll. Yes, Non Farm Payroll is a event at 830 on Friday this coming week, |
| 48 | 00:06:41 --> 00:06:47 | but it's the conditions that that week every single month. This is what we do. |
| 49 | 00:06:48 --> 00:06:51 | But we always try to go in and try to trade on the Monday of that week, |
| 50 | 00:06:51 --> 00:06:56 | because the early bird gets the worm here. Okay, it's not like the the |
| 51 | 00:06:56 --> 00:07:01 | analogy where the second mouse gets the cheese. In this case, it's the early |
| 52 | 00:07:01 --> 00:07:05 | bird gets the worm, and you want to be able to get in there and find a setup. |
| 53 | 00:07:05 --> 00:07:09 | So when they're clean on Monday and Tuesday after that, things get a little |
| 54 | 00:07:09 --> 00:07:14 | bit more 5050, and as we get into Thursday, it becomes a whole lot more |
| 55 | 00:07:14 --> 00:07:21 | potluck, and it's challenging for a new student, so to protect them, also to |
| 56 | 00:07:21 --> 00:07:27 | remind them that their infancy as as a speculator or student in price action, |
| 57 | 00:07:28 --> 00:07:32 | it's not going to serve them well to be in here trying to do something because |
| 58 | 00:07:32 --> 00:07:35 | it's going to frustrate it's going to cause you a second guess. You're |
| 59 | 00:07:35 --> 00:07:40 | probably going to do it wrong, and you're going to retain that and |
| 60 | 00:07:40 --> 00:07:45 | immortalize it as something that was painful for yourself, and simply just |
| 61 | 00:07:45 --> 00:07:49 | avoiding it, not trying to push and, you know, push a button, trying to make |
| 62 | 00:07:49 --> 00:07:53 | yourself feel good about getting something right. Don't expect to be |
| 63 | 00:07:53 --> 00:07:57 | right, and that way you can't hurt your feelings right. So we have a little bit |
| 64 | 00:07:57 --> 00:08:03 | of sell side, resting bow here, you can see it here, also on the 15 second |
| 65 | 00:08:03 --> 00:08:03 | chart. |
| 66 | 00:08:17 --> 00:08:23 | Cell sides below there, and we just traded to the top of that weekly buy |
| 67 | 00:08:23 --> 00:08:29 | side of balance, outside of efficiency. Now, because we hit our target, opened |
| 68 | 00:08:29 --> 00:08:34 | up with on Monday. We traded down into it. We left a little portion of it open. |
| 69 | 00:08:34 --> 00:08:40 | I favor an attempt to try to go higher only because of the long term trend |
| 70 | 00:08:40 --> 00:08:44 | being bullish. It's an election year. They're trying to fluff this thing up, |
| 71 | 00:08:44 --> 00:08:47 | so just be mindful that I |
| 72 | 00:09:04 --> 00:09:12 | Okay, so over here, if you look at this portion of price action, we've disrupted |
| 73 | 00:09:12 --> 00:09:15 | these relative equal highs, cheered up into this sell side, imbalanced by |
| 74 | 00:09:15 --> 00:09:24 | sudden efficiency. Right there, and then there's a small, little minor buy side |
| 75 | 00:09:24 --> 00:09:25 | liquidity pool there. I'm |
| 76 | 00:09:46 --> 00:09:51 | now if it would have done something like this, watch, if it would have dropped |
| 77 | 00:09:51 --> 00:09:58 | down, traded below both of these lows here initially, and then rallied up and |
| 78 | 00:09:58 --> 00:10:02 | had this fair value got like that. I would be in there long as it went over |
| 79 | 00:10:02 --> 00:10:07 | that candlestick, and I'd look for a run up in the there. But because we haven't |
| 80 | 00:10:07 --> 00:10:15 | done that yet, I'd sit still. So there's conditions. If This Then do that, if it |
| 81 | 00:10:15 --> 00:10:19 | does this, but hasn't done something else, then you have another decision |
| 82 | 00:10:19 --> 00:10:19 | making. I |
| 83 | 00:10:32 --> 00:10:37 | notice we're in the upper quadrant of that weekly last time and balanced cell, |
| 84 | 00:10:37 --> 00:10:44 | sign, efficiency, everything in the blue area that is that weekly chart. And let |
| 85 | 00:10:44 --> 00:10:48 | me also just take you out there, right behind you, because I know some of you |
| 86 | 00:10:48 --> 00:10:56 | haven't watched everything, or you cherry pick what you want to watch |
| 87 | 00:10:56 --> 00:11:02 | because they're too long with video. Get to the point. Here's that buy side of |
| 88 | 00:11:02 --> 00:11:06 | balance, cell sign efficiency, this individual candlestick, that's that blue |
| 89 | 00:11:06 --> 00:11:11 | shaded area. I told you when we were up here, we were likely to trade down into |
| 90 | 00:11:11 --> 00:11:21 | that this week. And we've done a swimming job of like a swimming guys |
| 91 | 00:11:21 --> 00:11:25 | across the pond that's on something right out of your vocabulary. |
| 92 | 00:11:34 --> 00:11:39 | See how we got real close to the low of it. But step that then we stopped. So I |
| 93 | 00:11:45 --> 00:11:55 | and we are here now. So if it's going to go higher, I'd prefer it to go down here |
| 94 | 00:11:55 --> 00:12:01 | and disrupt all this stuff here, because it's too smooth. And even though we have |
| 95 | 00:12:02 --> 00:12:12 | nothing really to speak of at 830 the Diago usually uses 830 anyway, because |
| 96 | 00:12:12 --> 00:12:13 | it's coded to do so, |
| 97 | 00:12:20 --> 00:12:26 | meaning that price will start spooling around 830 going into the nine o'clock |
| 98 | 00:12:26 --> 00:12:34 | hour, and that'll be the countdown to opening bell. So let's go back, put this |
| 99 | 00:12:34 --> 00:12:43 | in a five minute chart. A lot of feedback from your space live stream. |
| 100 | 00:12:43 --> 00:12:48 | You guys liked it and give give yourself something to do when you're watching |
| 101 | 00:12:48 --> 00:12:52 | price action practice. It's not about being right or wrong, but you'll |
| 102 | 00:12:52 --> 00:12:58 | condition yourself to see what it is you're asking me to teach you that only |
| 103 | 00:12:58 --> 00:13:01 | experience will give you the right fair value gap. |
| 104 | 00:13:08 --> 00:13:13 | As you are probably aware, things have kicked off over the Middle East, and |
| 105 | 00:13:13 --> 00:13:19 | that is going to be a little bit of a stick in the crawl for the markets. So |
| 106 | 00:13:19 --> 00:13:25 | they will not waste that opportunity. Obviously, they will punish individuals |
| 107 | 00:13:25 --> 00:13:30 | that don't know very much about trading. There's a little minor buy side resting |
| 108 | 00:13:30 --> 00:13:38 | there as well. So at the moment, as we go into 830 we Have this buy side. So |
| 109 | 00:13:51 --> 00:13:52 | And we have to do |
| 110 | 00:14:28 --> 00:14:33 | uh, again, I unless something really unexpected comes out in left field, like |
| 111 | 00:14:33 --> 00:14:42 | some kind of personal, not personal, some kind of Middle East event that |
| 112 | 00:14:42 --> 00:14:49 | really is shocking, some kind of major attack unfolds. I don't expect the |
| 113 | 00:14:49 --> 00:14:56 | market to drop. I expected to try to keep working towards its higher, long |
| 114 | 00:14:56 --> 00:15:02 | term trend, and that's because it's a. Election year. So they're they're |
| 115 | 00:15:02 --> 00:15:07 | constantly fluffing this thing up. There's no reason for stocks to be where |
| 116 | 00:15:07 --> 00:15:11 | they're at. But, you know, that's the game. It's rigged. It's artificial. And |
| 117 | 00:15:12 --> 00:15:16 | stupid people think that that is a barometer for the economy, and it's not. |
| 118 | 00:15:18 --> 00:15:21 | It's the scoreboard for stupid people versus smart people. |
| 119 | 00:15:35 --> 00:15:39 | Okay, see that. See this volume imbalance here that actually overlays |
| 120 | 00:15:39 --> 00:15:45 | with this little fair value gap ahead of that minor buy side, and then we have |
| 121 | 00:15:45 --> 00:15:53 | the buy side here at 996 even. So there's two things converging there, and |
| 122 | 00:15:56 --> 00:15:58 | there's a small little volume of valance as well. I'm |
| 123 | 00:16:12 --> 00:16:24 | what's the benefit of having the the expectation that a less informed or less |
| 124 | 00:16:24 --> 00:16:31 | experienced student studying price action, why should they try not to trade |
| 125 | 00:16:31 --> 00:16:37 | on the Wednesday, the Thursday and the Friday of non comparable? Because what |
| 126 | 00:16:37 --> 00:16:44 | you're going to demand in terms of accuracy, precision, correctness, not |
| 127 | 00:16:44 --> 00:16:48 | that that's important, but in the beginning, you as a student, you |
| 128 | 00:16:48 --> 00:16:52 | emphasize that more than it's required. You have to be very forgiving in the |
| 129 | 00:16:52 --> 00:17:00 | beginning. So if you have given yourself the permission to not engage during |
| 130 | 00:17:00 --> 00:17:05 | these times. You will not pick up bad habits. You will not create toxic |
| 131 | 00:17:05 --> 00:17:13 | thinking. You'll not have a bad experience when you're probably going to |
| 132 | 00:17:13 --> 00:17:18 | go into it looking for these tools, these concepts, to do well in your |
| 133 | 00:17:18 --> 00:17:25 | hands, when everything, every school of thought is going to be spinning their |
| 134 | 00:17:25 --> 00:17:30 | wheels many times on this week. Because, yes, everyone's approach can find a |
| 135 | 00:17:30 --> 00:17:34 | setup. But if you keep trading, keep trading, keep trading, eventually going |
| 136 | 00:17:34 --> 00:17:41 | to get beat up because the market tends to just not want to go anywhere. It just |
| 137 | 00:17:41 --> 00:17:47 | sits still and it trades in these small, little, tiny ranges. And by defining |
| 138 | 00:17:47 --> 00:17:54 | where the closest buy side or buy stops or the closest sell side or sell stops, |
| 139 | 00:17:54 --> 00:18:00 | where they're at, you can get a better feel for what they're trying to attack, |
| 140 | 00:18:01 --> 00:18:06 | and usually, whatever initial sell side or buy sides taken, all you have to do |
| 141 | 00:18:06 --> 00:18:11 | is flip it and go the other direction. That's usually how I approach if I'm |
| 142 | 00:18:11 --> 00:18:16 | going to be trading on the Wednesday, Thursday or Friday of Non Farm Payroll |
| 143 | 00:18:16 --> 00:18:22 | week, I'm usually doing that so I I identify the pools of liquidity, and I |
| 144 | 00:18:22 --> 00:18:26 | want to see them engaged, trade through them. And then once it does it, I would |
| 145 | 00:18:26 --> 00:18:30 | expect it to trade to the buy side here, or vice versa, if it trades the buy side |
| 146 | 00:18:30 --> 00:18:36 | here, because we're in this part of the week where I don't expect sustained |
| 147 | 00:18:36 --> 00:18:41 | price runs like I don't. I don't look for that. So to be nimble, you look for |
| 148 | 00:18:41 --> 00:18:46 | these types of things to study and practice, and if you get stopped out, or |
| 149 | 00:18:46 --> 00:18:50 | if it keeps running, who cares, you treat it the same way you did yesterday. |
| 150 | 00:18:50 --> 00:18:54 | Everything's a new learning experience. So look what they did. They took it up |
| 151 | 00:18:54 --> 00:18:59 | real close to these highs, but stopped short of it. And now we're sitting down |
| 152 | 00:18:59 --> 00:19:03 | here at the top of that weekly buy side imbalance, sell side efficiency, and we |
| 153 | 00:19:03 --> 00:19:10 | trade it down into this volume imbalance and order block. So if it's bullish, it |
| 154 | 00:19:10 --> 00:19:16 | should start to spoil here and run to the buy side we're |
| 155 | 00:19:22 --> 00:19:28 | what would make that idea stronger if it would have started by going down below |
| 156 | 00:19:28 --> 00:19:32 | this low here first and then traded where it's at. Now, not that it can't do |
| 157 | 00:19:32 --> 00:19:36 | it at this outlined here. It just means that it's better to do that now. Why |
| 158 | 00:19:36 --> 00:19:42 | would why would that make that better by going down here first before every |
| 159 | 00:19:42 --> 00:19:49 | substantial price run, or let me say differently, before every significant |
| 160 | 00:19:49 --> 00:19:53 | price run. What's the significant price run? Something that you can you can |
| 161 | 00:19:53 --> 00:20:00 | trade it, you can predict it, and it has a price run that is not just. 10 |
| 162 | 00:20:00 --> 00:20:07 | handles, not 20 handles, but you know, 3050, or more, that type of price run |
| 163 | 00:20:07 --> 00:20:16 | usually is the result after seeing some kind of liquidity taken. And in this |
| 164 | 00:20:16 --> 00:20:22 | event, we see relative equal lows. Think about the higher time frame. It's it's |
| 165 | 00:20:22 --> 00:20:25 | bullish. It's an election year. They keep propping it up. Anytime it goes |
| 166 | 00:20:25 --> 00:20:33 | down, they keep sending it higher. So if it goes down to take sell, stops here |
| 167 | 00:20:33 --> 00:20:40 | first, and then rallies up. It's easier to trust any discount array if it does |
| 168 | 00:20:40 --> 00:20:44 | this first, because it's already taken out people that would be profitable, |
| 169 | 00:20:44 --> 00:20:49 | right, if it went higher. So by going down, it tricks people into thinking it |
| 170 | 00:20:49 --> 00:20:54 | broke support. So therefore they're going to go short on a breakout, or it |
| 171 | 00:20:54 --> 00:20:58 | goes down below that low to stop out anyone that's long. So they're not |
| 172 | 00:20:58 --> 00:21:03 | allowed to take a ride higher. So especially during the Wednesday, |
| 173 | 00:21:03 --> 00:21:09 | Thursday and Friday of nonprofit payroll week, this is my initial go to strategy, |
| 174 | 00:21:09 --> 00:21:14 | where I'm looking at watching price. I have to identify where the near term buy |
| 175 | 00:21:14 --> 00:21:18 | side and sell side is, and I have to wait for one of these liquidities to be |
| 176 | 00:21:18 --> 00:21:22 | taken first. We have not seen either one of them yet. So that's why we're |
| 177 | 00:21:22 --> 00:21:26 | indifferent right now. We're just sitting still. I'm just outlining if I |
| 178 | 00:21:26 --> 00:21:31 | would have seen this one taken first by going down first, and then it rallied |
| 179 | 00:21:31 --> 00:21:35 | like that. I would have been using the things up here, as I mentioned earlier, |
| 180 | 00:21:36 --> 00:21:41 | to get long, to take a a ride up into this here and maybe explore if you can |
| 181 | 00:21:41 --> 00:21:47 | get to a higher Time Frame, cool liquidity. But because we're just still |
| 182 | 00:21:47 --> 00:21:53 | building these areas where stops are building, there's traders in here doing |
| 183 | 00:21:53 --> 00:21:56 | buying and selling. They are absolutely happening, but the buying and selling |
| 184 | 00:21:56 --> 00:22:04 | pressure has yet to take them below the lows or above the highs. So since it's a |
| 185 | 00:22:04 --> 00:22:12 | game of well, we'll borrow the term I use for the drill yesterday. It's a game |
| 186 | 00:22:12 --> 00:22:16 | of volatility pinball where it's just going to bang around and knock into |
| 187 | 00:22:16 --> 00:22:22 | stops and not have any directional bias. That is going to serve you on the daily |
| 188 | 00:22:22 --> 00:22:28 | trend. So avoid having the mindset of having a daily trend or a trending day |
| 189 | 00:22:29 --> 00:22:34 | on nine Farm Payroll weeks. Just expect it to be range bound. Expect it to bop. |
| 190 | 00:22:34 --> 00:22:39 | Go to the buy, stops, bump them, do like a broken wing trick. Like, okay, yeah, |
| 191 | 00:22:39 --> 00:22:43 | I'm gonna, I'm gonna start trending higher and then stop, go back into the |
| 192 | 00:22:43 --> 00:22:47 | range, or trade down to the sell side, and then go right back in the middle of |
| 193 | 00:22:47 --> 00:22:54 | the range again. So it's not like we're trying to time a trend entry. We're just |
| 194 | 00:22:54 --> 00:22:58 | looking for how the market will use the liquidity. And you can clearly see that |
| 195 | 00:22:58 --> 00:23:02 | they did not take those yet, and they did not take these yet. So these are the |
| 196 | 00:23:02 --> 00:23:07 | initial ones, and because they're so close to to the market, that's why |
| 197 | 00:23:07 --> 00:23:14 | they're minor, sell side liquidity, primary, buy side and sell side. We look |
| 198 | 00:23:14 --> 00:23:19 | at that when we get into nine o'clock. At nine o'clock, the same thing I just |
| 199 | 00:23:19 --> 00:23:24 | did here on a on a five minute one minute chart and 15 minute chart, you |
| 200 | 00:23:24 --> 00:23:29 | would annotate that same way, looking for clean highs, clean lows, or a |
| 201 | 00:23:29 --> 00:23:35 | singular high or singular low, and they are your primary buy side and sell side |
| 202 | 00:23:35 --> 00:23:42 | liquidity pools, but you don't look for them until you get to nine o'clock. Why |
| 203 | 00:23:42 --> 00:23:46 | because you're waiting for the opening bell, and after the opening bell, it's |
| 204 | 00:23:46 --> 00:23:50 | going to run for one of those pools of liquidity. What you're trying to do is |
| 205 | 00:23:51 --> 00:23:56 | you're looking for instances where you already have a higher Time Frame, daily, |
| 206 | 00:23:56 --> 00:24:02 | weekly, the market's already drawn to where I outlined on Monday, like I'm I'm |
| 207 | 00:24:02 --> 00:24:06 | completely satisfied for this week, but I'm just streaming because I told you I |
| 208 | 00:24:06 --> 00:24:10 | would do it this week, but we don't have to spend the entirety of what we've been |
| 209 | 00:24:10 --> 00:24:15 | doing the last two days. I'm only going to stay long enough to go through the |
| 210 | 00:24:15 --> 00:24:19 | opening bell with you, the first 30 minutes of opening range, and then I'm |
| 211 | 00:24:19 --> 00:24:26 | going to, I'm going to break session with you, but the the focus for you is |
| 212 | 00:24:26 --> 00:24:32 | to determine what it's likely to do on that weekly and daily chart. And let's |
| 213 | 00:24:32 --> 00:24:35 | assume that we didn't trade down into the blue shaded area, which is that |
| 214 | 00:24:36 --> 00:24:40 | weekly buy $7 sign efficiency that outlined on Monday at the beginning of |
| 215 | 00:24:40 --> 00:24:45 | the live stream. Go watch that again. It is, say it was lower still, and we |
| 216 | 00:24:45 --> 00:24:49 | haven't traded down here, then I would favor something like running up here, |
| 217 | 00:24:49 --> 00:24:54 | taking the buy side, and then selling off, and then using every premium array, |
| 218 | 00:24:54 --> 00:24:58 | some kind of a fair value gap, some kind of bearish order block, a bearish |
| 219 | 00:24:58 --> 00:25:03 | breaker. I would. Use things like that to get short, to ride down into my |
| 220 | 00:25:03 --> 00:25:09 | weekly and or daily higher Time Frame, draw on it, on liquidity. So because |
| 221 | 00:25:09 --> 00:25:14 | it's already done what it was outlined for me for my analysis this week, and |
| 222 | 00:25:14 --> 00:25:18 | because it's a Non Farm Payroll week, it's a short week for me, like I |
| 223 | 00:25:18 --> 00:25:25 | wouldn't be trying to do anything else, but to prove that my concepts can still |
| 224 | 00:25:25 --> 00:25:30 | ferret out setups even in these types of conditions, I'm sitting with you |
| 225 | 00:25:30 --> 00:25:36 | outlining price. But there's no there's no trade here right now. The trade I |
| 226 | 00:25:36 --> 00:25:40 | just showed early on that was available, but simply because we haven't got that |
| 227 | 00:25:40 --> 00:25:46 | close to the first news driver came out today at 815 and if you're not looking |
| 228 | 00:25:46 --> 00:25:50 | at economic calendar, you can find that on forex factory, com or econo day |
| 229 | 00:25:51 --> 00:25:55 | calendar, they're both free. You don't have to pay for anything to have it, and |
| 230 | 00:25:55 --> 00:26:01 | you need to know what, what injections of volatility are likely to enter the |
| 231 | 00:26:01 --> 00:26:07 | marketplace up close candle after running up they left these relative eco |
| 232 | 00:26:07 --> 00:26:10 | highs here we're trading right at the bottom of that candlestick, right there. |
| 233 | 00:26:10 --> 00:26:16 | See that? So let me annotate that. You'll see it. You'll see it populate on |
| 234 | 00:26:16 --> 00:26:22 | the chart to the right on that 15 second. We're just hammering on the |
| 235 | 00:26:22 --> 00:26:32 | bottom of this up close candle, and I would prefer to see it. Use this |
| 236 | 00:26:32 --> 00:26:37 | information here to probe the cell side resting below here. We have a down |
| 237 | 00:26:37 --> 00:26:43 | closed candle there, so as long as it stays above the main threshold of this |
| 238 | 00:26:43 --> 00:26:49 | down close candle, that would be in my in my mind, bullish. |
| 239 | 00:27:00 --> 00:27:04 | So there's the mean threshold of the down closed candle. It's a bullish order |
| 240 | 00:27:04 --> 00:27:10 | block. So if it does go below here, my eyes are focused on this individual |
| 241 | 00:27:10 --> 00:27:16 | candlestick. If we trade through it and it has a close below then, and what only |
| 242 | 00:27:16 --> 00:27:20 | that? Well, the order block is on what time frame? What's this time frame? Up |
| 243 | 00:27:21 --> 00:27:28 | here, five minute. So it would if it lays a body down and puts it below the |
| 244 | 00:27:28 --> 00:27:32 | middle of this and it closes down, what that has done is it's breached its mean |
| 245 | 00:27:32 --> 00:27:38 | threshold. It means it's it's indicating that this is not a good area to expect |
| 246 | 00:27:38 --> 00:27:43 | the price to stop at. It may go lower, not all the time. It just means that |
| 247 | 00:27:44 --> 00:27:48 | chances are it's more likely that's going to go lower than it would be if it |
| 248 | 00:27:48 --> 00:27:51 | was to just trade down into it in the upper half and never even touch the mean |
| 249 | 00:27:51 --> 00:27:56 | threshold, which is an ideal situation, but you never want to see it explore on |
| 250 | 00:27:56 --> 00:28:05 | a candlestick body's delivery. In the lower half of a potential bullish order |
| 251 | 00:28:05 --> 00:28:12 | block. All right, we're back at the top of that weekly buy side and balance cell |
| 252 | 00:28:12 --> 00:28:13 | sign efficiency. |
| 253 | 00:28:20 --> 00:28:25 | Still no setups looking for things, and what I would like to see is not an |
| 254 | 00:28:25 --> 00:28:34 | entry. I just want to see either one of these pools of liquidity traded to I |
| 255 | 00:28:34 --> 00:28:38 | don't personally care, really which one it does, but that's what we're going to |
| 256 | 00:28:38 --> 00:28:42 | be observing this morning. That's how it behaves once it trades to here or trades |
| 257 | 00:28:42 --> 00:28:49 | to here. Does it use the other one as a catalyst for trading to it? |
| 258 | 00:28:56 --> 00:28:59 | I should have, I should have stopped before I said, I don't care. I really |
| 259 | 00:28:59 --> 00:29:05 | prefer, like I said earlier, I prefer it to take the sell side first, because |
| 260 | 00:29:05 --> 00:29:09 | that makes it good for when it goes above. Here it could explore a little |
| 261 | 00:29:09 --> 00:29:14 | bit higher, but down here, it would be better for it to hit it first, attack |
| 262 | 00:29:14 --> 00:29:19 | that relative equal low and then go higher. It doesn't need to do it just |
| 263 | 00:29:19 --> 00:29:23 | means that for me to feel confident about reading to take with you live and |
| 264 | 00:29:23 --> 00:29:27 | call out individual PDA raise that I trust. I'd prefer they take the |
| 265 | 00:29:27 --> 00:29:32 | liquidity out underneath the market first by doing that. What that is |
| 266 | 00:29:33 --> 00:29:39 | essentially occurring is smart money's buying, or they would have the |
| 267 | 00:29:39 --> 00:29:44 | opportunity to buy at a cheap discount price, because they're sellers below |
| 268 | 00:29:44 --> 00:29:49 | these relative equal lows, protecting their long positions. So if it trades |
| 269 | 00:29:49 --> 00:29:54 | below there, those sell stocks become market orders to sell at the market. So |
| 270 | 00:29:54 --> 00:29:59 | smart money can accumulate their longs by just going in and buying that up and. |
| 271 | 00:30:00 --> 00:30:07 | Till it's exhausted, and then once that sell side's been engaged, smart money's |
| 272 | 00:30:07 --> 00:30:12 | now on board with long positions. Early longs are now stopped out with a loss. |
| 273 | 00:30:13 --> 00:30:16 | Breakout artists that want to sell short on a breakout they're tripped in short, |
| 274 | 00:30:17 --> 00:30:23 | so they're trapped short, and then the market will reprice higher. So because |
| 275 | 00:30:23 --> 00:30:29 | I'm siding on the the daily, long term higher Time Frame trend being bullish, |
| 276 | 00:30:29 --> 00:30:32 | because it's an election year, because they're trying to keep the market |
| 277 | 00:30:32 --> 00:30:37 | propped up. They don't want to have an election if you think we're going to |
| 278 | 00:30:37 --> 00:30:41 | have one, if you look at the administration, it's in power right now. |
| 279 | 00:30:42 --> 00:30:48 | They don't want to have anything that looks like they didn't do well. And the |
| 280 | 00:30:48 --> 00:30:53 | public's perspective is what the stock market equals the economy, and it's not |
| 281 | 00:30:54 --> 00:30:58 | so. That's why you're seeing this artificial propping up of the stock |
| 282 | 00:30:58 --> 00:31:02 | market, because there's literally no reason for any of these stocks to be |
| 283 | 00:31:02 --> 00:31:09 | where they're at. But it convinces the the dumb money in the street that, hey, |
| 284 | 00:31:09 --> 00:31:12 | look at the economy. It's raging. It's strong. It's good. No, it's not. How |
| 285 | 00:31:12 --> 00:31:16 | much is your groceries costing you? How much your how much is your utility bill |
| 286 | 00:31:16 --> 00:31:21 | cost you car insurance? It's going up, hasn't it? It's going up 30% next year |
| 287 | 00:31:21 --> 00:31:27 | too. Get ready, and that's just preliminary expectations. If we start |
| 288 | 00:31:27 --> 00:31:31 | seeing wild stuff going on, people tearing up stuff, then your premiums are |
| 289 | 00:31:31 --> 00:31:37 | going to go up even higher than that. So all you guys at your fancy cars, we're |
| 290 | 00:31:38 --> 00:31:43 | going to see how long you want to keep them next year? Yeah. |
| 291 | 00:31:54 --> 00:31:59 | Now it could do something like this, because we still have time the it could |
| 292 | 00:31:59 --> 00:32:04 | take the buy side, don't run after doing that, take the buy side, come all the |
| 293 | 00:32:04 --> 00:32:11 | way back down, and hit the sell side, and then range in between the high to |
| 294 | 00:32:11 --> 00:32:15 | farms here and whatever low it makes going into opening bell. That would be a |
| 295 | 00:32:15 --> 00:32:27 | scenario. It's it's a very challenging position for me to be in on a Non Farm |
| 296 | 00:32:27 --> 00:32:31 | Payroll week, because I know that there's literally so many things that |
| 297 | 00:32:31 --> 00:32:37 | could cause the market to do certain things that would upset any trade idea |
| 298 | 00:32:37 --> 00:32:41 | that I or anyone else with another methodology would have, and that's |
| 299 | 00:32:41 --> 00:32:45 | that's exactly why I tell my students don't touch it on Wednesday, Thursday |
| 300 | 00:32:45 --> 00:32:49 | and Friday. Now I'm sticking to the rules where you can trade the morning |
| 301 | 00:32:49 --> 00:32:56 | session, but when we were trading and teaching Forex, by seven o'clock in the |
| 302 | 00:32:56 --> 00:33:00 | morning, if you didn't have your trade on, you have to be done like you're not |
| 303 | 00:33:00 --> 00:33:02 | allowed to you're not allowed to do anything. So |
| 304 | 00:33:08 --> 00:33:16 | we're rolling into the morning session here, where for stock index futures, if |
| 305 | 00:33:16 --> 00:33:21 | you can trade the pre session, pre market hours, which is what you watch me |
| 306 | 00:33:21 --> 00:33:25 | do on Twitter? That's fine. I have no problem with that. I would never try to |
| 307 | 00:33:25 --> 00:33:27 | say, well, that's something you shouldn't have |
| 308 | 00:33:35 --> 00:33:40 | done, all right. So we have two poles of liquidity on the upside here. |
| 309 | 00:33:50 --> 00:33:52 | And there's one resting right up here, so I'm |
| 310 | 00:34:06 --> 00:34:16 | on Non Farm Payroll weeks, and on FOMC weeks and CPI week and PPI weeks, those |
| 311 | 00:34:16 --> 00:34:21 | reports, those events, they are going to be the weeks that, if you were asking |
| 312 | 00:34:21 --> 00:34:27 | me, like, when, when am I less active? When do I let a lot of trades pan by and |
| 313 | 00:34:27 --> 00:34:33 | pass by not do anything with execution wise, it's those weeks barring anything |
| 314 | 00:34:33 --> 00:34:41 | else outside of those individual, impactful events. Again, I'll say them |
| 315 | 00:34:41 --> 00:34:54 | again. It's FOMC, Non Farm Payroll, CPI and ppi, those big high energy |
| 316 | 00:34:54 --> 00:35:04 | attraction reports or events. They use those. For disruption, and they'll use |
| 317 | 00:35:04 --> 00:35:10 | those big report information that it's dumped at 830 whatever, or in the |
| 318 | 00:35:10 --> 00:35:18 | afternoon for FOMC. They're used as a perfect smoke screen to justify, oh, |
| 319 | 00:35:18 --> 00:35:23 | well, look, you know the this report caused the market to go here. But when |
| 320 | 00:35:23 --> 00:35:27 | you look at the data, and if you subscribe to the view that these people |
| 321 | 00:35:27 --> 00:35:32 | use for using fundamental data, to me, you're fundamentally stupid to just look |
| 322 | 00:35:32 --> 00:35:36 | at the data, because that data is already cooked in it's already baked in |
| 323 | 00:35:36 --> 00:35:41 | the price. So I don't ever worry about the raw information. I'm watching the |
| 324 | 00:35:42 --> 00:35:48 | the level of energy right ahead, and then at the time of the news driver |
| 325 | 00:35:49 --> 00:35:53 | releasing, and then what we see immediately after that, where does the |
| 326 | 00:35:53 --> 00:35:57 | market go? And there's many times in my last 30 years where I've watched I used |
| 327 | 00:35:57 --> 00:36:01 | to study fundamentals. I thought for sure I was going to figure it out. And |
| 328 | 00:36:01 --> 00:36:07 | nobody figures it out. It's such a long term thing, it's not it's not useful on |
| 329 | 00:36:07 --> 00:36:12 | an intraday basis. So and reason why I say that is because the raw information |
| 330 | 00:36:12 --> 00:36:19 | that comes out with these impactful news drivers, they may be viewed from the |
| 331 | 00:36:19 --> 00:36:24 | fundamentalist perspective that this should be constructive or bullish for |
| 332 | 00:36:24 --> 00:36:29 | equities or stocks, therefore the stock index should go higher. That means it |
| 333 | 00:36:29 --> 00:36:33 | should be bullish, right? But what happens? Sometimes, more times than you |
| 334 | 00:36:33 --> 00:36:39 | want to see it, it'll go down when it should be interpreted as bullish, or |
| 335 | 00:36:39 --> 00:36:43 | it'll go up when it should be interpreted as bearish. So what are you |
| 336 | 00:36:43 --> 00:36:49 | left with? It didn't take me long to see that this is garbage, and it was |
| 337 | 00:36:49 --> 00:36:54 | tricking me. And I used to have services where I would subscribe to that were |
| 338 | 00:36:54 --> 00:36:58 | supposedly going to give me the, you know, the tip beforehand. So I got |
| 339 | 00:36:58 --> 00:37:03 | scammed before I did all that same stuff you probably thought about doing, and |
| 340 | 00:37:03 --> 00:37:08 | none of that stuff works. So what I just concluded was I'm going to anticipate a |
| 341 | 00:37:08 --> 00:37:15 | lot of volatility around these reports. And if I don't have something clear cut |
| 342 | 00:37:15 --> 00:37:18 | as to where I think it's going to go, on a weekly chart and a daily chart, I'm |
| 343 | 00:37:20 --> 00:37:23 | probably going to do nothing, and I'm going to do very little trading on that |
| 344 | 00:37:23 --> 00:37:29 | week, and we try to focus on early part of the week, ahead of that heavy news |
| 345 | 00:37:29 --> 00:37:36 | impact driver. What I'm saying is a red folder or high impact news event or |
| 346 | 00:37:36 --> 00:37:42 | report, or a medium or orange colored folder report, in deference to the |
| 347 | 00:37:42 --> 00:37:46 | people that use Forex, factories calendar, you won't see that on the |
| 348 | 00:37:46 --> 00:37:52 | economy. It kind of days counter is a little bit more plain Jane. But the the |
| 349 | 00:37:52 --> 00:37:58 | emphasis, the the magnitude of how much volatility will come into the |
| 350 | 00:37:58 --> 00:38:04 | marketplace, is not directly linked to the report itself. It's the fact that |
| 351 | 00:38:05 --> 00:38:12 | the hand that is in control of price this, you know, this entity, okay, we'll |
| 352 | 00:38:12 --> 00:38:19 | call collectively the market maker. They will, many times, move the market to a |
| 353 | 00:38:19 --> 00:38:26 | degree. And I I have such a wide disparity that where price was before |
| 354 | 00:38:26 --> 00:38:32 | the report hits the market and then minutes after, and that's untradable. |
| 355 | 00:38:32 --> 00:38:36 | You cannot enter in the marketplace when it's like that, and trading ahead of |
| 356 | 00:38:36 --> 00:38:44 | that is stupid. So because it creates the It's an invitation to lose money, |
| 357 | 00:38:44 --> 00:38:47 | basically, is what I'm getting at when you're trading on the Wednesday, |
| 358 | 00:38:47 --> 00:38:53 | Thursday and Friday of Non Farm Payroll. Now, how can you skew those odds? |
| 359 | 00:38:54 --> 00:38:58 | Because you want to trade on Friday Non Farm Payroll, you have to wait until 830 |
| 360 | 00:38:59 --> 00:39:04 | hits, and then after the bell opened, then you can trade it normally, but at |
| 361 | 00:39:04 --> 00:39:08 | 830 you should not be in the market ahead of time. No way, absolutely not, |
| 362 | 00:39:09 --> 00:39:14 | because it's a carnival ride, as you'll see this riding, it'll be wild. And |
| 363 | 00:39:15 --> 00:39:22 | I've, I've watched instances where in one minute, you know, we've had 250 plus |
| 364 | 00:39:22 --> 00:39:29 | candles on a non front payroll event, and one candlestick in one minute, |
| 365 | 00:39:30 --> 00:39:34 | prices traversed that much in NASDAQ. And you think you're going to trade that |
| 366 | 00:39:35 --> 00:39:40 | you can't, you can't afford to be wrong if you're positioned ahead of it. And |
| 367 | 00:39:40 --> 00:39:44 | these are instances where you see the the data would have been viewed as |
| 368 | 00:39:45 --> 00:39:49 | bullish or bearish, and the market does the opposite. So what happens? Then the |
| 369 | 00:39:49 --> 00:39:53 | fundamentalists are thinking, although I was fundamentally wrong here, so I stick |
| 370 | 00:39:53 --> 00:39:56 | to the technicals. So when I'm looking at the markets, I'm focusing on |
| 371 | 00:39:56 --> 00:40:00 | technically speaking, this is what I think the market's going to do. What. As |
| 372 | 00:40:00 --> 00:40:03 | a fundamentalist, let's say fundamentally speaking, I believe that |
| 373 | 00:40:03 --> 00:40:06 | the interest rates are going to cause the market to this, this, this, this, |
| 374 | 00:40:06 --> 00:40:10 | and it has a very long term macro perspective over price, which I won't |
| 375 | 00:40:10 --> 00:40:16 | argue with against that. But for day trading purposes, very, very short term |
| 376 | 00:40:16 --> 00:40:22 | intraday fluctuations, the data itself isn't necessarily going to benefit you |
| 377 | 00:40:22 --> 00:40:27 | all the time. So I just look for these impactful days on the economic calendar |
| 378 | 00:40:28 --> 00:40:35 | to anticipate the market being harder that given week. And if I have the |
| 379 | 00:40:35 --> 00:40:38 | opportunity to trade early in the week to get whatever scratch I'm trying to |
| 380 | 00:40:38 --> 00:40:45 | get, I'm going to do that, and then I'll demo trade paper trade encourage my |
| 381 | 00:40:45 --> 00:40:51 | students through tape reading the rest of the time, so it removes any inherent |
| 382 | 00:40:51 --> 00:40:57 | risks that I could get caught up in, because I can hurt myself in those |
| 383 | 00:40:57 --> 00:41:03 | environments, because there's something in the marketplace that's cannibalizing |
| 384 | 00:41:04 --> 00:41:09 | more so than when it's not. And you'll understand that the more time you spend |
| 385 | 00:41:09 --> 00:41:14 | studying and being aware of the economic calendar, when these reports are due, |
| 386 | 00:41:14 --> 00:41:18 | they're always scheduled in advance. You can look at an economic calendar for |
| 387 | 00:41:18 --> 00:41:21 | next month, and you'll see where the CPI and the PPI numbers are going to be, you |
| 388 | 00:41:21 --> 00:41:24 | can see where the Non Farm Payroll is going to be. It tells you the very time |
| 389 | 00:41:24 --> 00:41:28 | it's getting it's being released, so they're not hiding it from you. So you |
| 390 | 00:41:28 --> 00:41:35 | can schedule all of your trading in advance, and you can also schedule when |
| 391 | 00:41:35 --> 00:41:37 | you're going to sit still and not do anything. |
| 392 | 00:41:38 --> 00:41:43 | But how much effort have you placed in that in terms of your trading, looking |
| 393 | 00:41:43 --> 00:41:47 | for times when you simply are not going to do something, where you incur risk? |
| 394 | 00:41:47 --> 00:41:50 | You probably never even thought about it like that, but that's exactly what a |
| 395 | 00:41:50 --> 00:41:55 | professional trader does. They identify problem areas. They don't want to be |
| 396 | 00:41:55 --> 00:41:59 | caught behind enemy lines when they're going to be outgunned, outmanned, and |
| 397 | 00:41:59 --> 00:42:03 | that's essentially what you're trying to do when you're trading around real close |
| 398 | 00:42:03 --> 00:42:09 | to these big news events. And Non Farm Payroll is a poster child for wrecking |
| 399 | 00:42:09 --> 00:42:14 | and blowing accounts. I have blown accounts using it. I have made a little |
| 400 | 00:42:14 --> 00:42:19 | bit of money. And that little bit of money that I made on it being right once |
| 401 | 00:42:19 --> 00:42:26 | in a few times gave me, early on, this insatiable desire to conquer it, and I |
| 402 | 00:42:26 --> 00:42:30 | have never been able to conquer it, meaning that I can't be right about |
| 403 | 00:42:30 --> 00:42:34 | where it's going to go before the employment data is released. I can't |
| 404 | 00:42:34 --> 00:42:40 | trust that, and I've hurt myself trying to do that. So I don't need to do that, |
| 405 | 00:42:40 --> 00:42:44 | you know in the future anymore, as I've done enough damage to myself, and I've |
| 406 | 00:42:44 --> 00:42:47 | learned that the PPI and the CPI number can rip your head off, literally |
| 407 | 00:42:47 --> 00:42:53 | instantly. And if you're wrong, it's unforgiving. So while all those reports |
| 408 | 00:42:53 --> 00:42:58 | are tradable after they release to the marketplace and let some time, minimum |
| 409 | 00:42:58 --> 00:43:04 | 15 minutes, wait for the news, the hit whatever happens for the next 15 |
| 410 | 00:43:04 --> 00:43:09 | minutes, then start studying price, and you're going to be looking for one |
| 411 | 00:43:09 --> 00:43:15 | minute and sub one minute price delivery. If you start noticing that how |
| 412 | 00:43:15 --> 00:43:19 | PD arrays are not being respected, there's there's no rhyme or reason why |
| 413 | 00:43:19 --> 00:43:23 | it's stopping and turning where it is, and it's just being real sporadic. That |
| 414 | 00:43:23 --> 00:43:27 | means they're still in there doing stuff. Don't touch it. Don't put your |
| 415 | 00:43:27 --> 00:43:31 | hands on it at all. And then wait for the PD arrays, like the imbalances, like |
| 416 | 00:43:31 --> 00:43:36 | the fair value gap, if it starts supporting price at the consequent |
| 417 | 00:43:36 --> 00:43:39 | encroachment, that's usually one of the real quick go to things I like to look |
| 418 | 00:43:39 --> 00:43:44 | for, because the middle of a fair value graph is until I taught it to you, |
| 419 | 00:43:44 --> 00:43:49 | nobody's concerned about it. Nobody's ever paid any attention to it. But when |
| 420 | 00:43:49 --> 00:43:54 | there is manipulation in the marketplace, you're not going to see |
| 421 | 00:43:54 --> 00:43:59 | that consequent approach being respected. It's going to eat right |
| 422 | 00:43:59 --> 00:44:03 | through the entire fair value gap. And that's indicating that what you got to |
| 423 | 00:44:03 --> 00:44:08 | sit still still. You have to just remain still and let the market settle that |
| 424 | 00:44:08 --> 00:44:13 | down. And when they stop being in there manually, you'll be able to recognize |
| 425 | 00:44:13 --> 00:44:18 | that moment when you can start seeing the precision elements that I teach my |
| 426 | 00:44:18 --> 00:44:22 | concepts provide you, but you have to be able to see it on the one minute chart. |
| 427 | 00:44:22 --> 00:44:27 | And under one minute chart, if you don't see that on the PPI number, CPI number |
| 428 | 00:44:27 --> 00:44:33 | or not for on payroll day, don't touch it yet. So it allows you to know exactly |
| 429 | 00:44:33 --> 00:44:37 | when it's safe to go back in the waters, because as long as you're seeing PDA |
| 430 | 00:44:37 --> 00:44:41 | raise not being respected at all, and are trading through them and the levels |
| 431 | 00:44:41 --> 00:44:46 | that would otherwise stop right on the tick. If that's not happening, you have |
| 432 | 00:44:46 --> 00:44:50 | no green light to go back in or enter. There's sharks in the water, and you |
| 433 | 00:44:50 --> 00:44:55 | gotta wait, to simply wait. And it's an easy thing to do once you understand |
| 434 | 00:44:55 --> 00:45:01 | what this gave you. It's a it's a protocol that preserves the. Yeah, well, |
| 435 | 00:45:01 --> 00:45:07 | it's designed to preserve your capital, and it's also to preserve the mental |
| 436 | 00:45:07 --> 00:45:10 | capacity and equity that you have, because you can not only blow your |
| 437 | 00:45:10 --> 00:45:14 | account, but you can also wear yourself down mentally, and even though you may |
| 438 | 00:45:14 --> 00:45:18 | have equity still in your account, you have now hurt yourself and scared |
| 439 | 00:45:18 --> 00:45:23 | yourself so bad that you've made it impossible to take another trade for |
| 440 | 00:45:23 --> 00:45:27 | that day, and then when your trade really does set up and the manual |
| 441 | 00:45:27 --> 00:45:30 | invention has stopped and precision elements are back in there, you're going |
| 442 | 00:45:30 --> 00:45:34 | to be like a deer in in headlights. You're going to be paralyzed. And then |
| 443 | 00:45:34 --> 00:45:37 | when it moves, you're going to wish you were part of it, and one of two things |
| 444 | 00:45:37 --> 00:45:40 | are going to happen. It's going to go entirely to where you thought was going |
| 445 | 00:45:40 --> 00:45:43 | to go, and you didn't do anything, and you're going to beat yourself up. Going |
| 446 | 00:45:43 --> 00:45:48 | to beat yourself up about it, or you're going to chase price and argue with |
| 447 | 00:45:48 --> 00:45:52 | yourself. I knew I should have just took this, but now look what you made me do. |
| 448 | 00:45:52 --> 00:45:56 | Look what you made me do. Michael, I had to go in here and buy this 30 handles |
| 449 | 00:45:56 --> 00:45:59 | higher than I should have, you know, if I would have just did what I wanted to |
| 450 | 00:45:59 --> 00:46:04 | do and not listen to you. And this is the internal dialog that every trader |
| 451 | 00:46:04 --> 00:46:10 | goes through until they figure out when not to do something and that when not to |
| 452 | 00:46:10 --> 00:46:14 | do something is critical factor. It's a skill set that, in my opinion, is worth |
| 453 | 00:46:14 --> 00:46:21 | more than you learning how to enter good it's better than a very small, ultra |
| 454 | 00:46:21 --> 00:46:26 | tight stop loss. Because if you don't know what you're doing, and you keep |
| 455 | 00:46:26 --> 00:46:30 | trading, even with your small, ultra small stop loss, and you could be right |
| 456 | 00:46:30 --> 00:46:34 | on the side of the marketplace, your entries could be great, but your stop |
| 457 | 00:46:34 --> 00:46:43 | loss claimant, stop loss, stop loss placement may not be all that sharp. You |
| 458 | 00:46:43 --> 00:46:46 | got a small stop, Yeah, but you're getting constantly beat up and chopped |
| 459 | 00:46:46 --> 00:46:53 | up because you don't know to stay out of the market. Remember, when manual |
| 460 | 00:46:53 --> 00:47:01 | intervention is underway, opportunities are cleverly disguised, impossibilities, |
| 461 | 00:47:02 --> 00:47:06 | it's going to look like it's right there, ready to be plucked off the vine |
| 462 | 00:47:06 --> 00:47:13 | and enjoyed, but as soon as you grab it and you pull it, Snake's going to bite |
| 463 | 00:47:13 --> 00:47:18 | you, and that's exactly what happens when there's manual intervention |
| 464 | 00:47:18 --> 00:47:21 | underway. So I'm telling you that because you want to be looking for that. |
| 465 | 00:47:21 --> 00:47:26 | After we get through the morning session of Wednesday, this morning today, start |
| 466 | 00:47:26 --> 00:47:32 | looking for those elements in price action, especially, start looking for |
| 467 | 00:47:32 --> 00:47:37 | like tomorrow at 830 there's employment data that's being released. And then |
| 468 | 00:47:37 --> 00:47:42 | there's the actual Non Farm Payroll released on Friday at 830 watch the one |
| 469 | 00:47:42 --> 00:47:47 | minute in the 15 second chart on your own. Don't just listen to what I'm |
| 470 | 00:47:47 --> 00:47:51 | jawboning about. Watch and see and you'll see either an absence of the |
| 471 | 00:47:51 --> 00:47:55 | precision, which means that they're in there, still manually intervening. |
| 472 | 00:47:55 --> 00:48:01 | They're they're moving price around where they want, whereas any other time. |
| 473 | 00:48:01 --> 00:48:09 | It's just AI driven. It's just, it's just doing its own thing, scripted. When |
| 474 | 00:48:09 --> 00:48:12 | they're in there moving stuff around, they're not going to move the price |
| 475 | 00:48:12 --> 00:48:18 | right to the tick. They're going to raise it up to take out a high and go |
| 476 | 00:48:18 --> 00:48:23 | way beyond what you expect it to go to, and then or drop it down way below and a |
| 477 | 00:48:23 --> 00:48:28 | low, and they're not going to lay that low down on top of anything that would |
| 478 | 00:48:28 --> 00:48:35 | be precision, this is going to be a big, abrupt move, and that's the stuff that |
| 479 | 00:48:35 --> 00:48:39 | hurts you, and it's also the same types of things that cause you to have |
| 480 | 00:48:39 --> 00:48:46 | unrealistic fears, because these big, wide tidal waves, or tsunami type price |
| 481 | 00:48:46 --> 00:48:49 | runs that just completely decimate people if they're on the wrong side of |
| 482 | 00:48:49 --> 00:48:54 | the marketplace, they don't just hop, they don't just hop out in front of you |
| 483 | 00:48:54 --> 00:48:59 | all the time. They're occurring around economic weeks that have these big news |
| 484 | 00:48:59 --> 00:49:05 | drivers. So it's like a, it's like a hazard sign. You know, you drive around |
| 485 | 00:49:05 --> 00:49:09 | in the mountains and you see these signs that says, you know, falling rocks. Does |
| 486 | 00:49:09 --> 00:49:12 | that mean the rock's going to fall on your ass right then and there? No, it |
| 487 | 00:49:12 --> 00:49:17 | doesn't mean that. But guess what? It could. So be mindful of it. Just be |
| 488 | 00:49:17 --> 00:49:21 | aware. Start having a little bit more awareness of, you know, do you see |
| 489 | 00:49:21 --> 00:49:26 | little plumes of dust the head that maybe a smaller Rock has started to fall |
| 490 | 00:49:26 --> 00:49:30 | before the bigger ones are starting to come down behind it? So it allows you to |
| 491 | 00:49:30 --> 00:49:35 | prepare for rough terrain by looking at your economic calendar, knowing where |
| 492 | 00:49:35 --> 00:49:38 | these medium impact and high impact news drivers are in the week that you're |
| 493 | 00:49:38 --> 00:49:45 | about to trade, or in the present week while you're trading, you're informed as |
| 494 | 00:49:45 --> 00:49:51 | a trader, if you know this, and now you know how to see when they're in there, |
| 495 | 00:49:51 --> 00:49:59 | manually intervening the market conditions ahead of Non Farm Payroll is |
| 496 | 00:49:59 --> 00:50:03 | what you're. Here. This is typical of nonprofit payroll. It's just range |
| 497 | 00:50:03 --> 00:50:09 | bound. It's just listless type trading. It's wonderful study material. It |
| 498 | 00:50:09 --> 00:50:15 | absolutely is wonderful to study it, but it's not enticing enough in the |
| 499 | 00:50:15 --> 00:50:19 | beginning for new students to stick with it, because they want to see dynamic, |
| 500 | 00:50:19 --> 00:50:23 | big price runs. They want to see their little indicators, give them their their |
| 501 | 00:50:23 --> 00:50:26 | entry, and it runs, you know, 100 handles, and they can go show what they |
| 502 | 00:50:26 --> 00:50:32 | made on on social media. You need to strip all that stuff away when it's not |
| 503 | 00:50:32 --> 00:50:37 | from payroll week, because ahead of that number on Friday, you're going to see a |
| 504 | 00:50:37 --> 00:50:44 | lot of this range bound stuff. And now it exasperates this likelihood when you |
| 505 | 00:50:44 --> 00:50:49 | have things that's going on in the Middle East, because the hand the market |
| 506 | 00:50:49 --> 00:50:56 | makers are formulating strategies right now how they can hurt people with what's |
| 507 | 00:50:56 --> 00:50:57 | going on over there, |
| 508 | 00:50:58 --> 00:51:03 | and how can they unseat somebody to make money by that happening, that's what's |
| 509 | 00:51:03 --> 00:51:07 | going on. So when the market's being held like this in his range, it's not |
| 510 | 00:51:07 --> 00:51:10 | because there's a lack of buying and selling pressure. It's not because |
| 511 | 00:51:10 --> 00:51:17 | there's a lack of interest in trading. It's not because support, suddenly, you |
| 512 | 00:51:17 --> 00:51:20 | know, starts working and resistance starts working. It means that they're |
| 513 | 00:51:20 --> 00:51:27 | holding here, and they're engineering market sentiment, means they're |
| 514 | 00:51:27 --> 00:51:31 | controlling and influencing, let's say it that way. They're influencing the |
| 515 | 00:51:31 --> 00:51:36 | expectations of investors and traders, because as long as we start working |
| 516 | 00:51:36 --> 00:51:42 | towards these higher highs up in here, anytime we go above it. What do we feel? |
| 517 | 00:51:42 --> 00:51:47 | Oh, I want to, want to keep going higher. And less informed traders see |
| 518 | 00:51:47 --> 00:51:50 | that as, oh, it broke out. That's resistance broken. It's going to keep |
| 519 | 00:51:50 --> 00:51:54 | going higher. And anyone that's done that thus far, they're sitting in in |
| 520 | 00:51:54 --> 00:51:58 | this, this drop down, and they may have gotten excited when it rallied up like |
| 521 | 00:51:58 --> 00:52:04 | this, but then dipped down the low, relative equal lows. So you want to |
| 522 | 00:52:05 --> 00:52:10 | spend a lot of time on Non Farm Payroll week at Wednesday, Thursday and Friday, |
| 523 | 00:52:10 --> 00:52:15 | and try to put yourself in the seat of a retail trader, like, how do they trade? |
| 524 | 00:52:16 --> 00:52:19 | And it may be even beneficial for you to put like an overbought, oversold in |
| 525 | 00:52:19 --> 00:52:26 | here, like stochastic or RSI or CCI, maybe MACD, something like that. And you |
| 526 | 00:52:26 --> 00:52:32 | can see visually when traders would use that information and how it will get |
| 527 | 00:52:32 --> 00:52:40 | them in trouble. So by basically arm wrestling the things I teach versus the |
| 528 | 00:52:40 --> 00:52:48 | retail perspectives, using indicators and whatnot, time of day, the opening |
| 529 | 00:52:48 --> 00:52:54 | range, gap, the opening range, all those things that I've been teaching you, if |
| 530 | 00:52:54 --> 00:52:57 | my tools are saying it's going to behave a certain way and go a different |
| 531 | 00:52:57 --> 00:53:02 | direction than that of an indicator or some kind of retail school of thought, |
| 532 | 00:53:02 --> 00:53:06 | you have a wonderful experiment to see which one actually is giving you the |
| 533 | 00:53:06 --> 00:53:12 | truth at that at that moment. And it's, it's extremely illuminating, because it |
| 534 | 00:53:12 --> 00:53:17 | feels like, and I've seen so many, I've seen so many people in this mentorship |
| 535 | 00:53:17 --> 00:53:21 | since we started this year. I don't feel like I should know this stuff that's |
| 536 | 00:53:21 --> 00:53:27 | that's a common theme that I'm seeing in either comments on Twitter or it's |
| 537 | 00:53:27 --> 00:53:35 | comments left on my YouTube videos. So, all right, so here we're at nine o'clock |
| 538 | 00:53:35 --> 00:53:46 | now. Okay, so now we have primary. Buy side and primary sell side that we can |
| 539 | 00:53:46 --> 00:53:50 | identify and that is going to be seen with. I'll just borrow this one because |
| 540 | 00:53:50 --> 00:54:00 | it's easy to do it. So we'll say this is primary, primary buy side, and that's |
| 541 | 00:54:00 --> 00:54:05 | because we've already cleared this over here, higher than that would be over |
| 542 | 00:54:05 --> 00:54:09 | here, and that's a little bit of a ways away. So we're just trying to stay close |
| 543 | 00:54:09 --> 00:54:13 | to where we're at right now at nine o'clock, close proximity. Where's the |
| 544 | 00:54:13 --> 00:54:18 | liquidity at? Well, this is where we're at right now at nine o'clock. So where's |
| 545 | 00:54:18 --> 00:54:23 | the high? It's that one. So you have minor here and now these lows down here, |
| 546 | 00:54:24 --> 00:54:35 | they would be primary sell side. Not complicated at all is it just got a |
| 547 | 00:54:35 --> 00:54:40 | complicated tree. You earn lazy ass, and you're looking for any excuse because |
| 548 | 00:54:40 --> 00:54:48 | you thought it gonna be easy, and this ain't easy. Here is an expression, |
| 549 | 00:54:56 --> 00:55:00 | if it ain't rough, it ain't right. Anything worth it? Going isn't going to |
| 550 | 00:55:00 --> 00:55:05 | be easy, but when you have the skill set, you're going to be in that small |
| 551 | 00:55:05 --> 00:55:10 | little percentage where people, they have to use things like, Oh, you're part |
| 552 | 00:55:10 --> 00:55:16 | of a cult. Well, you're all brainwashed. You're brainwashed. You can't, you |
| 553 | 00:55:16 --> 00:55:21 | can't, you can't talk to these people, these ICT people. Well, yeah, once we |
| 554 | 00:55:21 --> 00:55:25 | know what we're doing, no one's going to be able to come here and later on say |
| 555 | 00:55:25 --> 00:55:30 | what we're doing is not the right way of doing it. It doesn't no one can come |
| 556 | 00:55:30 --> 00:55:37 | here and say, You're not equipped now. They arrive too late. Not today. Satan. |
| 557 | 00:55:37 --> 00:55:40 | Do All |
| 558 | 00:55:47 --> 00:55:53 | right, so we have a primary buy side, minor sell side, primary sell side. |
| 559 | 00:55:54 --> 00:55:57 | We're trading at top of that, weekly buy sign and balance cell sign efficiency, |
| 560 | 00:55:58 --> 00:56:03 | we've had a sell side imbalance, buy sign efficiency, traded to here multiple |
| 561 | 00:56:03 --> 00:56:03 | times. |
| 562 | 00:56:11 --> 00:56:15 | Let's do a tape reading on this little run here and see if it'll give a fair |
| 563 | 00:56:15 --> 00:56:20 | value gap once we start to break lower, and then see if it can deliver to the |
| 564 | 00:56:20 --> 00:56:21 | minor cell side. |
| 565 | 00:56:32 --> 00:56:34 | Okay, so you have fair value gap. There |
| 566 | 00:56:40 --> 00:56:41 | one here. |
| 567 | 00:56:52 --> 00:56:54 | And you have one here too. It's a small one. I |
| 568 | 00:57:00 --> 00:57:07 | should be able to see it like that. Yeah, I |
| 569 | 00:57:26 --> 00:57:31 | so now, when you have two fairbag apps like that, what do you think if you saw |
| 570 | 00:57:31 --> 00:57:35 | this one first and you were ignoring this one? Think what I taught in the |
| 571 | 00:57:35 --> 00:57:42 | model 2022 you have to allow for price to reach up into that second one too, if |
| 572 | 00:57:42 --> 00:57:46 | it's good. And now I'm not saying it's good, see, I went into the second one. |
| 573 | 00:57:46 --> 00:57:51 | So if you were using this one as your entry, thinking they would go down to |
| 574 | 00:57:51 --> 00:57:55 | the sell side here, and you didn't allow for price potentially trading up into |
| 575 | 00:57:55 --> 00:58:00 | the upper one, you would got smoked immediately, because your stop loss |
| 576 | 00:58:00 --> 00:58:04 | would have been here, using this fair value gap. Stop Loss would have been |
| 577 | 00:58:04 --> 00:58:08 | right above this high, this candle sticks high, but here we have this fair |
| 578 | 00:58:08 --> 00:58:13 | value gap. So you have to do what make allowance for either waiting. There's |
| 579 | 00:58:13 --> 00:58:19 | two. It's just two schools of thought here. You can do the entry here and then |
| 580 | 00:58:19 --> 00:58:24 | use a wider stop loss, which I know some of you don't want to hear that. Or you |
| 581 | 00:58:24 --> 00:58:28 | can wait for it to trade there and then see if it wants to stab up into that |
| 582 | 00:58:28 --> 00:58:32 | one, and that would be your entry. And then you can use a little bit larger |
| 583 | 00:58:32 --> 00:58:34 | stop loss that will be more forgiving up here. |
| 584 | 00:58:41 --> 00:58:45 | In the beginning, it's, it's real hard to talk to students and encourage them |
| 585 | 00:58:45 --> 00:58:49 | to use a little bit wider stop loss, because you need that extra forgiveness. |
| 586 | 00:58:50 --> 00:58:54 | Because you're, you're watching someone that can do things real, real precise, |
| 587 | 00:58:55 --> 00:58:58 | and it's like anything else you as a little boy, I used to watch Spider Man |
| 588 | 00:58:58 --> 00:59:02 | swing around and do crazy stuff. And I thought, well, if I go outside and I put |
| 589 | 00:59:02 --> 00:59:07 | my ski mask on as a kid, I'm going to run around with my Underoos on. I could |
| 590 | 00:59:07 --> 00:59:11 | climb over cars and jump off of buildings and land and not hurt myself |
| 591 | 00:59:11 --> 00:59:15 | until I try to do it and then I hurt myself. So you gotta give yourself a |
| 592 | 00:59:15 --> 00:59:20 | little bit more flexibility and forgiveness in the beginning, so you're |
| 593 | 00:59:20 --> 00:59:23 | not going to be a web slinger in the beginning. You're gonna have to be a |
| 594 | 00:59:23 --> 00:59:32 | little bit more slow and allow yourself a lot more flexibility, and being less |
| 595 | 00:59:32 --> 00:59:35 | accurate more likely to be wrong. |
| 596 | 00:59:42 --> 00:59:42 | Right here. |
| 597 | 00:59:49 --> 00:59:50 | That neutralizes it. I. |
| 598 | 01:00:01 --> 01:00:07 | The other thing I find hard teaching new students is using the lowest leverage. |
| 599 | 01:00:07 --> 01:00:10 | They don't ever want to listen. They don't ever want to listen to that. They |
| 600 | 01:00:10 --> 01:00:15 | want to use the biggest leverage, and because they're being influenced by |
| 601 | 01:00:15 --> 01:00:18 | other people, and I'm sure I have some measure of influence over them too, |
| 602 | 01:00:18 --> 01:00:23 | because they see what I'm doing in my examples. If you can't find consistency |
| 603 | 01:00:23 --> 01:00:27 | and profitability with just one contract, even if it's a micro, you're |
| 604 | 01:00:27 --> 01:00:30 | not going to make more money when you're trading with larger leverage. Okay, so |
| 605 | 01:00:30 --> 01:00:32 | that would cancel this one I'm |
| 606 | 01:00:49 --> 01:00:53 | now, with the market trading below this low here, inside that weekly buy side of |
| 607 | 01:00:53 --> 01:00:57 | balance, sell sign efficiency, this inefficiency. Now, if it trades down to |
| 608 | 01:00:57 --> 01:01:03 | it, if it trades to it here and sends it back higher, any future fair value get |
| 609 | 01:01:03 --> 01:01:07 | that would form after it trades this and sends it higher, that could be a |
| 610 | 01:01:07 --> 01:01:18 | catalyst to send price back up to primary buy side. So in this case, this |
| 611 | 01:01:18 --> 01:01:23 | fair value get that we were watching and doing a case study on this could be, |
| 612 | 01:01:23 --> 01:01:32 | could potentially be, what inversion. So now you can study it this way. You don't |
| 613 | 01:01:32 --> 01:01:40 | want to be doing the demo entries on non fraud payroll week on Wednesdays, you |
| 614 | 01:01:40 --> 01:01:44 | tape read. Because if you're doing actual pushing in the buttons and seeing |
| 615 | 01:01:44 --> 01:01:48 | stop losses getting hit or targets getting hit, you're tricking yourself at |
| 616 | 01:01:48 --> 01:01:53 | the worst time. You're feeding yourself bad data, basically what it is. But |
| 617 | 01:01:55 --> 01:01:58 | there's nothing wrong with going in and just and watching and observing price |
| 618 | 01:01:58 --> 01:02:01 | instead of just blindly staring into it and thinking, Okay, what's it doing? If |
| 619 | 01:02:01 --> 01:02:05 | it starts moving one direction real fast, I'll chase it with a demo entry. |
| 620 | 01:02:05 --> 01:02:12 | That's that's the worst thing to be doing. And most of every student I had |
| 621 | 01:02:12 --> 01:02:15 | for forex, that's the perspective they had when I when they came in. They're |
| 622 | 01:02:15 --> 01:02:19 | like, you know, why aren't you short? Now, when I'd be live streaming, and it |
| 623 | 01:02:19 --> 01:02:29 | had had gone up like 1515, pips, which is nothing is insignificant, right? But |
| 624 | 01:02:29 --> 01:02:31 | they'd be like, in the in the comments, like, why aren't you long here? Why |
| 625 | 01:02:31 --> 01:02:35 | don't you go long here? I'm like, there's nothing to do. We're literally |
| 626 | 01:02:35 --> 01:02:39 | observing. There's things in motion. We have to wait for it to to provide more |
| 627 | 01:02:39 --> 01:02:46 | information. You're sitting still for a real reason, basically not because of |
| 628 | 01:02:46 --> 01:02:55 | ignorance. You want to take high probability, low risk entries. All right |
| 629 | 01:02:55 --> 01:03:01 | now see what we did in here. Came back up, showed no willingness to come off of |
| 630 | 01:03:01 --> 01:03:06 | this to show displacement. Is that a losing trade? No, because the idea was |
| 631 | 01:03:06 --> 01:03:10 | what it has to go down to it and then start sending price higher, and then, |
| 632 | 01:03:10 --> 01:03:14 | after it starts to rally, a fair value gap that would form, then would be used, |
| 633 | 01:03:14 --> 01:03:18 | not, oh, it's going through this inversion fair value gap, they don't |
| 634 | 01:03:18 --> 01:03:24 | hold. It wasn't supposed to hold is supposed to stop, then allow price to |
| 635 | 01:03:24 --> 01:03:31 | run away, then the fair value got what's the form later on. All right, so now |
| 636 | 01:03:33 --> 01:03:44 | this grief, this becomes its original when it was a sell side, I signed an |
| 637 | 01:03:44 --> 01:03:50 | efficiency below price that is a classic bearish fair value gap. If it trades up |
| 638 | 01:03:50 --> 01:03:58 | to it, here it becomes, what a reclaimed bearish fair value gap. And the focus is |
| 639 | 01:03:58 --> 01:04:04 | here, volume imbalance, right there. Watch that one too. So we could jump up, |
| 640 | 01:04:04 --> 01:04:08 | redeliver and do patchwork in here and maybe spike on a wick to the bottom of |
| 641 | 01:04:08 --> 01:04:12 | that fair value gap and then see if it wants to run to the cell side. You're |
| 642 | 01:04:15 --> 01:04:20 | inside the volume imbalance right now. That's this separation right here. |
| 643 | 01:04:28 --> 01:04:32 | Remember, all we're doing is we're studying all of this range bound price |
| 644 | 01:04:32 --> 01:04:39 | action we're studying over the the lens of a 15 second candlestick. I'm |
| 645 | 01:04:45 --> 01:04:46 | so here's the volume of valance and. |
| 646 | 01:05:06 --> 01:05:14 | If you remember being in school, like in chemistry and physics and whatnot, I had |
| 647 | 01:05:14 --> 01:05:20 | engineering classes and stuff. When we were in in class, we always had these |
| 648 | 01:05:21 --> 01:05:24 | experiments, we had laboratories, basically called it, and you had the |
| 649 | 01:05:24 --> 01:05:29 | ability of sitting in and usually had a partner, or you had a small group of |
| 650 | 01:05:29 --> 01:05:35 | other students, and we were doing some kind of observation. We were doing |
| 651 | 01:05:35 --> 01:05:43 | tests. We were measuring the incubation cycle of chicken eggs. You know, we did |
| 652 | 01:05:43 --> 01:05:47 | all kinds of stuff in school, and that that's why science and math were always |
| 653 | 01:05:47 --> 01:05:54 | exciting to me. English, I sucked that. Everything else I sucked at. But those |
| 654 | 01:05:54 --> 01:05:59 | two, those studies, were my that's, that's my forte, and mathematics was my, |
| 655 | 01:05:59 --> 01:06:07 | my go to and when we're looking at price action, the closest thing I can try to |
| 656 | 01:06:07 --> 01:06:13 | encourage new students to do is treat your study of price action like a |
| 657 | 01:06:13 --> 01:06:20 | laboratory, like a like a like a case Study of you doing, like forensics on it |
| 658 | 01:06:21 --> 01:06:27 | like, what's the fine details in here? Okay, and when you listen to people like |
| 659 | 01:06:28 --> 01:06:37 | Anton Creole from his little stint when he was a reality star for the BBC, his |
| 660 | 01:06:37 --> 01:06:41 | stuff that he puts on YouTube will say, and I'm sure it was directed to me, |
| 661 | 01:06:41 --> 01:06:46 | because that was, I was really making fun of his blue suede shoes one time, |
| 662 | 01:06:46 --> 01:06:52 | and he blocked me. But I he says, we're not doing technical science here. And |
| 663 | 01:06:52 --> 01:06:55 | that's what I was like, You know what? That's exactly what we do here. Okay, so |
| 664 | 01:06:55 --> 01:07:00 | I took that from him. He used it as, like a, like a ribbing, like a, like an |
| 665 | 01:07:00 --> 01:07:03 | insult. But that's like, you know what? That's exactly, that's a badge of honor. |
| 666 | 01:07:03 --> 01:07:07 | We are absolutely doing technical science here. So you're really going in |
| 667 | 01:07:07 --> 01:07:14 | price action and watching and does price continuously give feedback that would be |
| 668 | 01:07:14 --> 01:07:21 | measured as a pro or a con for a delivery of price action? Are you seeing |
| 669 | 01:07:21 --> 01:07:24 | the things that you would expect to see if it was going to be a sustained price |
| 670 | 01:07:24 --> 01:07:31 | run to a high or an old low, and you're constantly looking for these things. The |
| 671 | 01:07:31 --> 01:07:35 | main takeaway we're at the top of that weekly buy side of balance, sell side |
| 672 | 01:07:35 --> 01:07:38 | efficiency, and it can touch again that that volume imbalance. But what happens |
| 673 | 01:07:38 --> 01:07:43 | if it spikes up with a wick and hits this and then drops. Is that something |
| 674 | 01:07:43 --> 01:07:47 | that's bad? No, it's something that's reasonable. Given the type of climate |
| 675 | 01:07:47 --> 01:07:55 | we're in this week, we we are past the easy days of this week, that was Monday |
| 676 | 01:07:55 --> 01:08:01 | and Tuesday, so Wednesday becomes what harder? It's going to be a lot more |
| 677 | 01:08:01 --> 01:08:05 | challenging for you if you don't know what you're doing. It's going to be |
| 678 | 01:08:05 --> 01:08:08 | very, very challenging for you to be able to see what price is going to do |
| 679 | 01:08:08 --> 01:08:16 | next. Think about that in terms of when you read these books that people write, |
| 680 | 01:08:16 --> 01:08:21 | or they have courses, or they do mentorships, or they have live, you |
| 681 | 01:08:21 --> 01:08:27 | know, analysis and signals. If they are not emphasizing and using terms like |
| 682 | 01:08:27 --> 01:08:32 | this is difficult right now. Or they're they're not describing, and I'm not |
| 683 | 01:08:32 --> 01:08:37 | saying that they're not saying something useful when they say, oh, it's the |
| 684 | 01:08:37 --> 01:08:40 | Marcus is going nowhere right now. That's a, that's a that's a realistic |
| 685 | 01:08:40 --> 01:08:44 | observation, and I could, I could say that that's, it's good, but when they |
| 686 | 01:08:44 --> 01:08:53 | just to conveniently say, Oh, it's just choppy right now, that's like a it's an |
| 687 | 01:08:53 --> 01:08:57 | escape mechanism for them. Instead of saying, I don't know what the market's |
| 688 | 01:08:57 --> 01:09:04 | doing right now. How hard is that? I don't know what the market's going to do |
| 689 | 01:09:04 --> 01:09:09 | right now. You're going to hear me say those things when the market is having |
| 690 | 01:09:10 --> 01:09:15 | intervention, when there's the hand in there moving things around, that the |
| 691 | 01:09:15 --> 01:09:19 | algorithm is no longer in control of price, they are pushing and manipulating |
| 692 | 01:09:19 --> 01:09:23 | price. Well, then I have no idea what price is going to do then, and why |
| 693 | 01:09:23 --> 01:09:26 | should that be upsetting? You would expect that, right? So see this up close |
| 694 | 01:09:26 --> 01:09:34 | candle here, in that volume imbalance, my eye goes to this every single time, |
| 695 | 01:09:35 --> 01:09:41 | every single time I want to put annotation on it jumps. Come on. I'll |
| 696 | 01:09:41 --> 01:09:42 | fix it when I drag it |
| 697 | 01:09:48 --> 01:09:54 | right. And then that would be this. See, normally, when you're above that buy |
| 698 | 01:09:54 --> 01:09:57 | side and balance outside, efficiency coming back down into it, it's acting |
| 699 | 01:09:57 --> 01:10:02 | as, what a Bullish figure, how you got that. That's its initial classification. |
| 700 | 01:10:02 --> 01:10:07 | But if it trades down below it, and you're bearish, this becomes a inversion |
| 701 | 01:10:07 --> 01:10:12 | fair value gap. And you want to see things treat treated to heaviness. You |
| 702 | 01:10:12 --> 01:10:18 | want to see price remain heavy at the midpoint of it, or to the low it, and |
| 703 | 01:10:18 --> 01:10:20 | not explore the upper part of it, |
| 704 | 01:10:25 --> 01:10:35 | but having an understanding of where you're going to have difficulty, and not |
| 705 | 01:10:35 --> 01:10:40 | having an ego about being able to admit either to yourself in your journal where |
| 706 | 01:10:40 --> 01:10:43 | nobody sees that. There's a volume imbalance right here. It's just |
| 707 | 01:10:43 --> 01:10:51 | repricing back to that. The the implementation of social media for |
| 708 | 01:10:51 --> 01:10:58 | traders is cancer. Like you're you're making everything so much more harder |
| 709 | 01:10:58 --> 01:11:02 | for yourself if you don't know what you're doing, like, I get out here and I |
| 710 | 01:11:02 --> 01:11:04 | clown around, you know? I troll, I do a lot of stuff. Sometimes it's very |
| 711 | 01:11:04 --> 01:11:12 | subtle. You don't realize it, but other times it's obvious. The some of my new |
| 712 | 01:11:12 --> 01:11:17 | or younger male students, they want to emulate me in that regard, and that's |
| 713 | 01:11:17 --> 01:11:23 | the part I don't want you want to do, because it's that's this me doing things |
| 714 | 01:11:23 --> 01:11:29 | to ruffle the feathers. You want it because you want to feel like you are |
| 715 | 01:11:29 --> 01:11:34 | the main character. And if you remove all these instances where you don't have |
| 716 | 01:11:34 --> 01:11:39 | to be fearful of admitting that you don't know something right now, and it's |
| 717 | 01:11:39 --> 01:11:44 | important for you to recognize how how it is that you're going to be incorrect. |
| 718 | 01:11:44 --> 01:11:48 | Where are those instances where looking at price action and not knowing what |
| 719 | 01:11:48 --> 01:11:54 | it's likely to do and observing that you are now met with the difficulty the task |
| 720 | 01:11:54 --> 01:11:59 | is next to impossible at that given moment. Why would you want to sit in |
| 721 | 01:11:59 --> 01:12:03 | front of your charts and press the button, but think about it, I guarantee |
| 722 | 01:12:03 --> 01:12:06 | you you can remember times where you knew you shouldn't be doing what you're |
| 723 | 01:12:06 --> 01:12:10 | about to do, and that's exactly when you blew your account. That's exactly when |
| 724 | 01:12:10 --> 01:12:13 | you had your largest losing trade. That's exactly when you lost your funded |
| 725 | 01:12:13 --> 01:12:17 | account, you blew your combine. Something happened where you have had |
| 726 | 01:12:17 --> 01:12:21 | the worst possible outcome that could have happened at that given moment, but |
| 727 | 01:12:21 --> 01:12:25 | you knew going in that there was something going on in price that you |
| 728 | 01:12:25 --> 01:12:29 | didn't quite understand, but you just won the around and find out, and you |
| 729 | 01:12:29 --> 01:12:36 | did. Now contrast that with the way I teach. I have a long way around the |
| 730 | 01:12:36 --> 01:12:42 | barn. I do a lot of talking, because I'm talking to my kids, I'm counseling them. |
| 731 | 01:12:42 --> 01:12:47 | If they ever come to me with a question, they know what's going to happen, I'm |
| 732 | 01:12:47 --> 01:12:52 | going to give them an hour answer, because I want them to understand the |
| 733 | 01:12:52 --> 01:13:00 | ramifications of subscribing to the view. I'm going to give them what the |
| 734 | 01:13:00 --> 01:13:04 | pros and cons are going to be, what other people are going to say, what they |
| 735 | 01:13:04 --> 01:13:07 | should see from doing it and then reminding them that you're probably |
| 736 | 01:13:07 --> 01:13:10 | going to get a different outcome too. But you asked me for this, so there it |
| 737 | 01:13:10 --> 01:13:16 | is, and Caleb will tell you like, I know, if I come to you and I ask you a |
| 738 | 01:13:16 --> 01:13:18 | question, I have to make sure I've made time for this, because you don't ever |
| 739 | 01:13:18 --> 01:13:23 | answer things short and sweet, and it's because I want them to understand my |
| 740 | 01:13:23 --> 01:13:28 | answer. Not just Dad, what do you think? Well, grass is green, the sky is blue. |
| 741 | 01:13:29 --> 01:13:34 | Okay, now, why the fuck is the grass green, dad? And why does the sky look |
| 742 | 01:13:34 --> 01:13:38 | blue? And I go through the process of explaining all that stuff, so that way |
| 743 | 01:13:38 --> 01:13:45 | they don't just say dad thinks this. Dad believes this. No. Dad knows his stance |
| 744 | 01:13:45 --> 01:13:50 | on this based on this is what he told us, and that's why I do what I do in the |
| 745 | 01:13:50 --> 01:13:58 | descriptions of price runs and how to formulate this routine of reading it. |
| 746 | 01:13:59 --> 01:14:04 | There's going to be times where, even with my information, my concepts, it's |
| 747 | 01:14:04 --> 01:14:09 | not going to work out for any of you. So isn't it beneficial to know when that's |
| 748 | 01:14:09 --> 01:14:13 | likely to occur, to ignore it, to pretend it's not going to ever happen, |
| 749 | 01:14:14 --> 01:14:19 | is a myopic perspective, like you're you're asking to fail. It's been too |
| 750 | 01:14:19 --> 01:14:26 | many times coming back out of that volume of balance, and we're dropped |
| 751 | 01:14:26 --> 01:14:28 | eight minutes away an opening bell. |
| 752 | 01:14:39 --> 01:14:48 | I wished I would have been more interested in spending time finding my |
| 753 | 01:14:48 --> 01:14:54 | faults, where I was initially trying to hide them from myself and I would punish |
| 754 | 01:14:54 --> 01:14:59 | myself in my journals. I would really it would be very jarring. It felt like |
| 755 | 01:14:59 --> 01:15:04 | they. Therapy, you know, cussing myself out in my journal, and as I wrote it |
| 756 | 01:15:04 --> 01:15:07 | out, I feel, you know, sometimes I would laugh to myself that gets right. Yeah, |
| 757 | 01:15:07 --> 01:15:11 | you deserve everything. I just said to yourself right there. But then once I'm |
| 758 | 01:15:11 --> 01:15:14 | done and I'm going and doing something else, taking a drive, working because I |
| 759 | 01:15:14 --> 01:15:19 | had a job, then it would, I would think about what I said about myself, and I'm |
| 760 | 01:15:19 --> 01:15:22 | thinking, myself, man, if someone else said that about me, that would make me |
| 761 | 01:15:22 --> 01:15:28 | feel terrible, and I'm doing it to myself. And as soon as I felt that, I |
| 762 | 01:15:28 --> 01:15:34 | dismissed it real quick. So what was I doing? I was allowing demons to fester, |
| 763 | 01:15:34 --> 01:15:40 | and I was making, let them, let them make home in my mind, in my thought |
| 764 | 01:15:40 --> 01:15:48 | process, and it's extremely toxic when I when I started looking at things that |
| 765 | 01:15:48 --> 01:15:54 | would help me not think that way, and I didn't hold myself up to I have to be |
| 766 | 01:15:54 --> 01:15:58 | perfect in my expectation in the marketplace. I have to see these things |
| 767 | 01:15:59 --> 01:16:04 | every single time, because I saw a pattern of me getting it right, and my |
| 768 | 01:16:04 --> 01:16:07 | my concepts are starting to flesh out, but then I would have these instances |
| 769 | 01:16:07 --> 01:16:12 | where nothing was working, like nothing made any bit of sense, and the market |
| 770 | 01:16:12 --> 01:16:18 | would just behave in a manner that was erratic. When, if we get below here, |
| 771 | 01:16:18 --> 01:16:23 | because I could still say no, thank you. But right below these lows. This chart |
| 772 | 01:16:23 --> 01:16:27 | on left hand side is a five minute chart. So below that is minor cell side |
| 773 | 01:16:28 --> 01:16:35 | that it's at 19,009 24 ish. So if it goes below that, I would be interested |
| 774 | 01:16:35 --> 01:16:42 | in seeing a lot of speed to get down to upset the cell side here. That's still |
| 775 | 01:16:42 --> 01:16:44 | good. If it wants to go higher, it doesn't change it to make it bearish. It |
| 776 | 01:16:46 --> 01:16:49 | just means that would be a logical place for it to dump at the opening bell, and |
| 777 | 01:16:50 --> 01:16:53 | then everybody think, Wow, it's really bearish, and then they start sending it |
| 778 | 01:16:53 --> 01:16:56 | back up higher. That would be a wonderful opportunity. I would |
| 779 | 01:16:56 --> 01:17:01 | manipulate Christ like that. If it was me, that's exactly what I would do. But |
| 780 | 01:17:01 --> 01:17:08 | I'm not in control of price, though, but the observations that I started making |
| 781 | 01:17:09 --> 01:17:14 | and looking at where my journal entries were extremely toxic, like really, |
| 782 | 01:17:14 --> 01:17:20 | really toxic. Bad days, upper right hand corner of my journals, I'd have an X |
| 783 | 01:17:21 --> 01:17:25 | that was, that was my way when I was going through because everything I do is |
| 784 | 01:17:25 --> 01:17:29 | it's handwritten like I don't do electronic journaling. You all have the |
| 785 | 01:17:29 --> 01:17:34 | advantage of it today, but I didn't have that technology back then in the 90s. So |
| 786 | 01:17:34 --> 01:17:41 | I never wanted to transition from the high touch of journaling with a pen and |
| 787 | 01:17:41 --> 01:17:47 | and leather journals to doing it electronically. I don't have the |
| 788 | 01:17:47 --> 01:17:52 | advantage of going and sorting and searching for things by keyword or date. |
| 789 | 01:17:52 --> 01:17:59 | I don't have that ability to do that. So if I want to go back and I can remember |
| 790 | 01:17:59 --> 01:18:03 | certain months out of certain years where I had really, really wonderful |
| 791 | 01:18:03 --> 01:18:07 | instances of things panning out wonderfully for me. But also have very, |
| 792 | 01:18:07 --> 01:18:10 | very, very bad memories where I know, generally, I have some of the dates |
| 793 | 01:18:10 --> 01:18:14 | memorized because it's traumatic. Sometimes I forget my own kids |
| 794 | 01:18:14 --> 01:18:20 | birthdays, but I can remember the days where I lost a lot of money, and when I |
| 795 | 01:18:20 --> 01:18:26 | was experiencing that stuff, obviously I would journal. And then at the top of |
| 796 | 01:18:26 --> 01:18:31 | the page, upper right hand corner, I'd have an X there. So whenever I wanted to |
| 797 | 01:18:31 --> 01:18:36 | go through days that were as you run to the cell site, so you want to deal with |
| 798 | 01:18:36 --> 01:18:41 | the journal that so we were looking at it up here, top of the buy side, about |
| 799 | 01:18:41 --> 01:18:46 | cell sign, efficiency, inversion, fair value gap, the volume and balance |
| 800 | 01:18:46 --> 01:18:50 | hammered it one more time and then delivered to the minor cell side. So |
| 801 | 01:18:50 --> 01:18:54 | these are all the things that I was fleshing out early on as a 20 year old, |
| 802 | 01:18:54 --> 01:19:00 | like I was trying to figure out how I could bridge the gap between what I |
| 803 | 01:19:00 --> 01:19:06 | understood about how price was transitioning to 100% electronic and no |
| 804 | 01:19:06 --> 01:19:15 | more open out cry, how? How can this be bridged? How can I see price in a manner |
| 805 | 01:19:15 --> 01:19:22 | where electronically it's going to deliver to here, but the market never |
| 806 | 01:19:22 --> 01:19:26 | does well, let me, let me not say it like that. Rarely does the market ever |
| 807 | 01:19:26 --> 01:19:31 | do things like move from where we first started watching and observing and |
| 808 | 01:19:31 --> 01:19:33 | looking for it goes lower. It never just simply does. I |
| 809 | 01:19:43 --> 01:19:48 | a drop straight down from you see an entry, potentially at from the time you |
| 810 | 01:19:48 --> 01:19:51 | see an entry. And this is where you think it's going to go in your mind. As |
| 811 | 01:19:51 --> 01:19:57 | a new student, you think that, okay, my entry is here, so now I expect it in one |
| 812 | 01:19:57 --> 01:20:00 | candlestick to go right down there. And is, if it doesn't do that. That every |
| 813 | 01:20:00 --> 01:20:05 | new candle it creates that isn't really rushed to get down there feels like an |
| 814 | 01:20:05 --> 01:20:14 | eternity. So you have to learn to submit the time. And what I would do in stages |
| 815 | 01:20:14 --> 01:20:18 | of my development and my codifying all these concepts is I understood that the |
| 816 | 01:20:18 --> 01:20:23 | market was going to go to this liquidity. I understood that part, but I |
| 817 | 01:20:23 --> 01:20:31 | had to have a way where I could see multiple instances of where I see a |
| 818 | 01:20:31 --> 01:20:36 | setup forming and where the market could go to. Okay, that's my range of |
| 819 | 01:20:36 --> 01:20:44 | opportunity. That range of opportunity needs to be defined. What do you mean by |
| 820 | 01:20:44 --> 01:20:49 | that? It needs to be defined. If I know that there's liquidity below these lows |
| 821 | 01:20:49 --> 01:20:55 | over here, then it's not just getting to that price point. Is the objective. It's |
| 822 | 01:20:55 --> 01:20:59 | to get to that price point and then below it, because it needs to engage |
| 823 | 01:20:59 --> 01:21:05 | that liquidity. So if I see this volume imbalance as a initial inception of a |
| 824 | 01:21:05 --> 01:21:13 | price run, and this is a terminus to liquidity, that makes sense, you you all |
| 825 | 01:21:13 --> 01:21:16 | as my students, even if you're brand new, if you were watching just this |
| 826 | 01:21:16 --> 01:21:19 | stream for the first time, what I just explained, you may not know the volume |
| 827 | 01:21:19 --> 01:21:24 | imbalance of what the mechanics are around it. It's not necessary right now, |
| 828 | 01:21:24 --> 01:21:30 | but if you think that prices are going to move from that level down to this |
| 829 | 01:21:30 --> 01:21:36 | level because there's liquidity there, then we have to consider where is the |
| 830 | 01:21:36 --> 01:21:41 | ideal entry points, and at what point does the probability being high, |
| 831 | 01:21:41 --> 01:21:46 | diminish from being high probability entries to lower probability entries. |
| 832 | 01:21:46 --> 01:21:50 | And that's where I bring in the premium to discount. So if I just hot, if I |
| 833 | 01:21:50 --> 01:21:58 | highlight this, and no, I don't want to do that, let's do it like this, from the |
| 834 | 01:21:58 --> 01:22:04 | entry to where I believe the terminus was right below that relative equal low. |
| 835 | 01:22:04 --> 01:22:10 | Here we have one more minute. Now finish this real quick. Here is the equilibrium |
| 836 | 01:22:10 --> 01:22:15 | price point. So at that price point, or above anything that could be used as an |
| 837 | 01:22:15 --> 01:22:21 | entry, is a premium. Notice how everything below it you don't want to |
| 838 | 01:22:21 --> 01:22:25 | use as an entry, because you're so close to where it's going to go. But look at |
| 839 | 01:22:25 --> 01:22:29 | the volume imbalance. It's in a premium relative to the midpoint of where you |
| 840 | 01:22:29 --> 01:22:32 | believe it's going to go, and where you believe the inception of the move |
| 841 | 01:22:32 --> 01:22:37 | begins. This is your point of interest, that that PD array, that's where the |
| 842 | 01:22:37 --> 01:22:40 | inception of the move, the beginning of the move in the terminus is where you |
| 843 | 01:22:40 --> 01:22:45 | think it's trying to reach to reach to. So by framing that, every time you take |
| 844 | 01:22:45 --> 01:22:49 | a trade, you have to know where it's going to go, your target, that's |
| 845 | 01:22:49 --> 01:22:52 | terminus, and where you're trying to get in at. And then from there, you frame |
| 846 | 01:22:52 --> 01:22:57 | where premium and discount is, discount is below. If we're trying to sell short, |
| 847 | 01:22:57 --> 01:23:03 | you can't sell short and discount. You got to sell short and premium. You right |
| 848 | 01:23:03 --> 01:23:12 | back to inversion parade. All right, opening bell. The fireworks have |
| 849 | 01:23:12 --> 01:23:19 | started. Sorry, you probably gonna hear my wife cough and she's gotten sick |
| 850 | 01:23:19 --> 01:23:25 | because of my youngest son and being sick. So keep me in prayer, because I |
| 851 | 01:23:25 --> 01:23:30 | don't want to get that crud because they're fighting some nasty stuff. Let's |
| 852 | 01:23:30 --> 01:23:38 | do regular trading hours, all right, so we have a discount gap. Take this stuff |
| 853 | 01:23:38 --> 01:23:50 | off here. So All right, so we have a rather every single time, every time, |
| 854 | 01:23:50 --> 01:24:07 | man, yeah, so mid gap is right here at 19,009 65 so again, 75 the time, the |
| 855 | 01:24:07 --> 01:24:13 | first 30 minutes that usually gets traded to and now we can go back to |
| 856 | 01:24:13 --> 01:24:14 | electronic trading hours. |
| 857 | 01:24:22 --> 01:24:28 | And we're looking for the potential to run down into primary cell side, this |
| 858 | 01:24:28 --> 01:24:33 | little gap in here that might be a speed bump. If it gets if it gets down there, |
| 859 | 01:24:33 --> 01:24:35 | it doesn't mean it has to go down there. |
| 860 | 01:24:42 --> 01:24:59 | I Let's go to the one minute chart on the left hand side and. |
| 861 | 01:25:06 --> 01:25:13 | Okay, now remember, the opening gap is the initial bias. Caleb, the first 30 |
| 862 | 01:25:13 --> 01:25:18 | minutes. If you gap down that first 30 minutes, your your primary focus is |
| 863 | 01:25:18 --> 01:25:26 | looking up to the midpoint of the gap that's over here. That's this price |
| 864 | 01:25:26 --> 01:25:31 | level right there. And boom, there it is. |
| 865 | 01:25:37 --> 01:25:44 | So once again, you're seeing this those odds I tell you about panning out if you |
| 866 | 01:25:44 --> 01:25:55 | look for ways to trade turtle suit, one of the things you can practice is if you |
| 867 | 01:25:55 --> 01:26:06 | have the opening range gap and it is at least 40 handles or more this, that's |
| 868 | 01:26:06 --> 01:26:13 | like, that's like, my minimum, you know, for interest on the first 30 minutes, if |
| 869 | 01:26:13 --> 01:26:17 | it's a larger gap, then I'm really interested on the day, and I'm gonna try |
| 870 | 01:26:17 --> 01:26:21 | to, most likely, do most of my leverage that can be afforded to own that that |
| 871 | 01:26:21 --> 01:26:28 | given trading day, 75 handles opening range gap. That's really good. But here, |
| 872 | 01:26:28 --> 01:26:32 | every single day, if you have 40 handles or whatnot, you have a range to trade. |
| 873 | 01:26:32 --> 01:26:39 | That first 30 minute opening range. If we got down, it can trade up to that mid |
| 874 | 01:26:39 --> 01:26:42 | gap price level. If it does something like this, where we've already |
| 875 | 01:26:42 --> 01:26:47 | identified minor sell side, and we have a load like this trading down into it |
| 876 | 01:26:47 --> 01:26:53 | like that, you can do a buy on a stop, where it allows the market to put you in |
| 877 | 01:26:55 --> 01:27:01 | anyone that would look at Turtle soups like this and think, How do you know |
| 878 | 01:27:01 --> 01:27:05 | where to buy? There are instances where I can be buying below that low, but |
| 879 | 01:27:05 --> 01:27:09 | other times, like today, I was looking for an opportunity for it to see if it |
| 880 | 01:27:09 --> 01:27:13 | could go a bit lower. But if you want to trade turtle soups using the opening |
| 881 | 01:27:13 --> 01:27:18 | range gap mid consequence level as a draw for that first 30 minutes when it |
| 882 | 01:27:18 --> 01:27:21 | breaks below the low like this, all you have to do is take the candlestick that |
| 883 | 01:27:21 --> 01:27:29 | right before this candle low was formed. What candle pierced it, this one. So if |
| 884 | 01:27:29 --> 01:27:33 | you take that and you use the open of it, if it's a down closed candle, what |
| 885 | 01:27:33 --> 01:27:37 | are you essentially doing? You're identifying an order block, but you can |
| 886 | 01:27:37 --> 01:27:42 | trade inside that candle and use its opening price to buy on a stop. So then |
| 887 | 01:27:42 --> 01:27:46 | you could be a buyer here. Trade up to the opening range, gap, midpoint, |
| 888 | 01:27:46 --> 01:27:50 | constant encroachment done. You're out small, little, high frequency trading |
| 889 | 01:27:51 --> 01:27:58 | entry. And back test it, you'll see it, it's, it's many times a wonderful way to |
| 890 | 01:27:58 --> 01:28:02 | trade turtle soups. That's a mechanical entry. Very, very mechanical. Because if |
| 891 | 01:28:02 --> 01:28:06 | the market kept going lower, would you have been filled? No, because the buy |
| 892 | 01:28:06 --> 01:28:10 | stop would have never been triggered. So it has to trade to that price point, and |
| 893 | 01:28:10 --> 01:28:13 | then once it goes to it, it kicks you in, just like a stop loss would be. If |
| 894 | 01:28:13 --> 01:28:17 | you were short, it would knock you out. Well, in this case, because you don't |
| 895 | 01:28:17 --> 01:28:22 | have an existing position open, what's the what's the mechanism behind it? |
| 896 | 01:28:22 --> 01:28:28 | You're buying from a position of flat, your sideline, but now the only order |
| 897 | 01:28:28 --> 01:28:32 | that's executing is when price trades to that opening price, it would trip you in |
| 898 | 01:28:32 --> 01:28:39 | long because it's a buy stop. And then once that occurs, you ride it to the mid |
| 899 | 01:28:39 --> 01:28:42 | gap, which is what you see here, and look at the prices done since then. You |
| 900 | 01:28:43 --> 01:28:54 | think that's random. Mid gap, drop down. Now aim for the sell side over here, the |
| 901 | 01:28:54 --> 01:28:55 | equal lows. I |
| 902 | 01:29:07 --> 01:29:15 | A mess show in the 80s. Mr. Wizards world. One of my students said, you're |
| 903 | 01:29:15 --> 01:29:21 | like our our version of Mr. Wizard. Some of you young guys and gals out there, I |
| 904 | 01:29:21 --> 01:29:25 | don't know what that is, just Google. You'll see. So I used to watch the show |
| 905 | 01:29:25 --> 01:29:29 | too. It was neat, because he would do like, these little experiments. He'd |
| 906 | 01:29:29 --> 01:29:32 | take baking soda and put it in this little thing here, and then you do this |
| 907 | 01:29:32 --> 01:29:35 | and do that, and something that your mom would come home and see you messing |
| 908 | 01:29:35 --> 01:29:38 | around with after school, be like, What the hell you doing? Michael, I'm just |
| 909 | 01:29:38 --> 01:29:41 | doing what this guy on TV did. What the hell? Why do you have my shit outta |
| 910 | 01:29:41 --> 01:29:44 | here? Put that stuff back in the cabinet, and I'd be in trouble, right? |
| 911 | 01:29:46 --> 01:29:50 | But that's what that's what you need to do as a trader. You need to study, get |
| 912 | 01:29:50 --> 01:29:54 | in here and tinker around and see what these little candlesticks do together, |
| 913 | 01:29:54 --> 01:29:59 | how they communicate, how they behave with one another. I. |
| 914 | 01:30:05 --> 01:30:08 | Okay, I'm going to take this line off because it's no longer sealing it to us. |
| 915 | 01:30:09 --> 01:30:13 | It's just, it was just marking the first initial minor cell side. All |
| 916 | 01:30:22 --> 01:30:29 | right, see how we dug into this gap here with this wick. If we can roll over and |
| 917 | 01:30:29 --> 01:30:34 | trade below that low, it should, if it does so, it should have speed to drive |
| 918 | 01:30:34 --> 01:30:38 | down to that area here with the relative equal lows. I |
| 919 | 01:30:55 --> 01:30:59 | I'm watching the wick on this candlestick right here, and it's halfway |
| 920 | 01:30:59 --> 01:30:59 | point I'm |
| 921 | 01:31:26 --> 01:31:33 | now this is a little bit of a cloudy delivery where it's not as clean, it's |
| 922 | 01:31:33 --> 01:31:41 | not real efficient, but it's better than it was the other day. So when we have |
| 923 | 01:31:41 --> 01:31:45 | less impactful news around the days that we're watching price action, you're |
| 924 | 01:31:46 --> 01:31:51 | going to see how prices are so nice. It just creates these really clean price |
| 925 | 01:31:51 --> 01:31:55 | runs. See how many times it keeps coming back, back and back and back and back |
| 926 | 01:31:55 --> 01:31:58 | and back, still reaching for where we're looking for it to go to. But still it's |
| 927 | 01:31:58 --> 01:32:03 | spending a whole lot of time painting candlesticks overlapping the previous |
| 928 | 01:32:03 --> 01:32:07 | candlesticks range, going a little bit lower, but still staying inside this |
| 929 | 01:32:07 --> 01:32:14 | group of price ranges that are pretty much the same things. That is not a |
| 930 | 01:32:14 --> 01:32:18 | market that I love to be in. That's what you want to see, right there. Okay, see |
| 931 | 01:32:18 --> 01:32:22 | that? So we have consequent encroachment, mid gap, up here, |
| 932 | 01:32:23 --> 01:32:27 | inversion, fair value gap. Fair value gap here, consequent encroachment there, |
| 933 | 01:32:28 --> 01:32:35 | break down, then the gap, consequence encroachment on this wick, right there |
| 934 | 01:32:35 --> 01:32:43 | stops price went lower to the sell side, and that would be your laboratory for |
| 935 | 01:32:43 --> 01:32:48 | the opening range. It did the 70% strike rate of hitting the mid gap, so opening |
| 936 | 01:32:48 --> 01:32:52 | range gap, and went to half of it, which is up here, and then used it for what |
| 937 | 01:32:53 --> 01:32:57 | that was your turning point to get down to where we're primary sell side. So |
| 938 | 01:32:57 --> 01:33:01 | here's, here's several things that you can view. I gave you multiple instances |
| 939 | 01:33:01 --> 01:33:06 | of how you could trade this, the very specific mechanics behind it, where the |
| 940 | 01:33:06 --> 01:33:12 | entries would be, where it's going to draw to any one of these instances could |
| 941 | 01:33:12 --> 01:33:18 | be your model. Every single one of them are all equally effective. Not one of |
| 942 | 01:33:18 --> 01:33:22 | them is any better than the other, because it's what you do with these |
| 943 | 01:33:22 --> 01:33:29 | setups in your own hands. Once you get good at it, like you spend time years |
| 944 | 01:33:29 --> 01:33:33 | from now, like a 10 years, 15 years from now, you're going to be able to see a |
| 945 | 01:33:33 --> 01:33:36 | whole lot more setups where I'm sitting here casually talking to you, and I'll |
| 946 | 01:33:36 --> 01:33:41 | watch what it does here. Watch it. I can see the setups, but I have to teach in a |
| 947 | 01:33:41 --> 01:33:46 | way where I'm not trying to convince Caleb that there's something better than |
| 948 | 01:33:46 --> 01:33:52 | what he's trying to focus on. I have to be neutral, but still point out, no, |
| 949 | 01:33:52 --> 01:33:57 | watch what it's doing here. Watch what it's doing here, and it's fun, like to |
| 950 | 01:33:57 --> 01:34:01 | me, it's like meditation, and when you can see what it's going to do, and you |
| 951 | 01:34:01 --> 01:34:06 | get to experience how it behaves after it does it, and then when it delivers |
| 952 | 01:34:06 --> 01:34:10 | where you think it's going to go, it feels like time travel. It feels like, |
| 953 | 01:34:10 --> 01:34:13 | like many of you students are now saying it, it feels like I'm not allowed to |
| 954 | 01:34:13 --> 01:34:17 | know this, like you feel like you're expecting to knock at the door, right, |
| 955 | 01:34:17 --> 01:34:23 | like someone's coming here. Hey, we need to have a talk with you so and I get it, |
| 956 | 01:34:23 --> 01:34:24 | I understand. |
| 957 | 01:34:32 --> 01:34:38 | Let's use that reference point from up here at the inversion fair value gap. |
| 958 | 01:34:38 --> 01:34:42 | Let's say that you were looking for once it broke lower down here, it comes back |
| 959 | 01:34:42 --> 01:34:47 | up and hits the inversion fair value gap. If that was to occur, you would use |
| 960 | 01:34:47 --> 01:34:53 | that as your point of interest, the inception of the price run. Where is it |
| 961 | 01:34:53 --> 01:35:02 | going to run? We were pointing down here to relative equal lows. So. So if you're |
| 962 | 01:35:02 --> 01:35:10 | aiming for the relative equal lows right there, can you see how at that midpoint, |
| 963 | 01:35:10 --> 01:35:16 | that's equilibrium to the price run? So you're basically you're grading, is what |
| 964 | 01:35:16 --> 01:35:21 | this is called. You're grading the unrealized dealing range. It means it |
| 965 | 01:35:21 --> 01:35:27 | has not delivered down here yet, but you can anticipate where setups are going to |
| 966 | 01:35:27 --> 01:35:31 | form. So for the question that folks are asking, how do you pick the right fair |
| 967 | 01:35:31 --> 01:35:37 | value? How do you know that? Well, the inception of the move is here, dropping |
| 968 | 01:35:37 --> 01:35:42 | down, if it breaks up. Well, for example, if it breaks below this low, we |
| 969 | 01:35:42 --> 01:35:45 | know that there's a stronger likelihood that's going to reach for the relative |
| 970 | 01:35:45 --> 01:35:51 | equal lows over here. But how can we enter? I took the initial minor cell |
| 971 | 01:35:51 --> 01:35:54 | side liquidity line off, and I said, No, we're trading right inside this. This |
| 972 | 01:35:54 --> 01:36:05 | gap here, if you look at that, where is this gap in proximity to the fifth, the |
| 973 | 01:36:05 --> 01:36:10 | 50% level of Point of Interest term is where you think the market's going to |
| 974 | 01:36:12 --> 01:36:16 | draw to. It's in the upper half, right? So that means this is a premium array. |
| 975 | 01:36:17 --> 01:36:20 | You can't look at this and say, How is this a premium array when we're this far |
| 976 | 01:36:20 --> 01:36:23 | away from that high because you don't have to talk you're talking about and |
| 977 | 01:36:23 --> 01:36:27 | that's exactly what you see these Yahoos on YouTube doing. They're trying to talk |
| 978 | 01:36:27 --> 01:36:30 | with my terms. They have no understanding about what it is they're |
| 979 | 01:36:30 --> 01:36:33 | doing. And then that's why their students are not making money, and |
| 980 | 01:36:33 --> 01:36:37 | they're quitting. And they go and they find another ICT mentor. They have found |
| 981 | 01:36:37 --> 01:36:41 | another ICT mentor, and they're ignoring daddy, who's doing this for free, |
| 982 | 01:36:41 --> 01:36:46 | literally explaining it right from the source, but you don't want to he talks |
| 983 | 01:36:46 --> 01:36:53 | too much, because I want you to know everything about it. You think I would |
| 984 | 01:36:53 --> 01:36:57 | shortchange my own kids, because I'm going to go through the process of |
| 985 | 01:36:57 --> 01:37:00 | teaching it. I want to make sure I never have to have that conversation again. |
| 986 | 01:37:00 --> 01:37:05 | I've exhausted it, so I use every bit of the available bandwidth when I'm |
| 987 | 01:37:05 --> 01:37:08 | teaching something, if I have your attention, I'm going to hold on to it |
| 988 | 01:37:08 --> 01:37:12 | and grab it by the throat, and you're going to learn it the right way, whether |
| 989 | 01:37:12 --> 01:37:15 | you like it or not, or you'll turn the video off and be stupid. Okay, it's your |
| 990 | 01:37:15 --> 01:37:20 | choice, but knowing where the market's going to go and where the inception of |
| 991 | 01:37:20 --> 01:37:24 | the move is, that's how you frame premium to discount. And then what you |
| 992 | 01:37:24 --> 01:37:29 | can do is, with that information, everything relating to that information |
| 993 | 01:37:29 --> 01:37:34 | that you're getting in terms of premium to discount, you can anticipate, without |
| 994 | 01:37:34 --> 01:37:37 | even having to throw a fib up here, you can visually see that from that |
| 995 | 01:37:37 --> 01:37:41 | inversion fair value gap down to the relative equal lows, halfway point is |
| 996 | 01:37:41 --> 01:37:47 | generally that low. So if there's a fair value gap above that, well you have one |
| 997 | 01:37:47 --> 01:37:52 | here, and you have one here. So if this was the first one you saw, but then you |
| 998 | 01:37:52 --> 01:37:55 | looked and saw this, what does that mean? You could use this as your entry, |
| 999 | 01:37:55 --> 01:38:00 | and that's exactly what the bodies are doing here. You see that. But the higher |
| 1000 | 01:38:00 --> 01:38:08 | one, you have to allow for what it to stab up into it. Model 2022, logic. This |
| 1001 | 01:38:08 --> 01:38:11 | is a breakaway gap. There's no need for to go up to the third one. The third one |
| 1002 | 01:38:11 --> 01:38:16 | is a breakaway. It means it's showing its head Venus. This is one it could |
| 1003 | 01:38:16 --> 01:38:19 | trade to. This is one it's most likely going to see the body stay inside of it, |
| 1004 | 01:38:19 --> 01:38:20 | and that's what you see here? |
| 1005 | 01:38:31 --> 01:38:35 | See that? So, yes, we wick up to the higher one. We don't even bother going |
| 1006 | 01:38:35 --> 01:38:42 | into this, because this is a breakaway gap. This stops the move. It's ideal if |
| 1007 | 01:38:42 --> 01:38:44 | it stays in the lower half. Look real close. Did |
| 1008 | 01:38:58 --> 01:39:02 | it stay in the lower half? Yes? Is the rules repeating over and over again? Is |
| 1009 | 01:39:02 --> 01:39:08 | the logic still there? Yes, that's not buying pressure stopping that the buyers |
| 1010 | 01:39:08 --> 01:39:11 | didn't say, Well, you know, this all collectively, stop having any interest |
| 1011 | 01:39:11 --> 01:39:14 | in going higher. Because if you look at your level two data, Yahoos that keep |
| 1012 | 01:39:14 --> 01:39:18 | saying, show me your level two data, show me your show me this. Show me that. |
| 1013 | 01:39:18 --> 01:39:22 | Why the fuck didn't the orders get up here tagged. Why didn't they get there? |
| 1014 | 01:39:22 --> 01:39:26 | There's orders resting there, right? Because it doesn't give a about those |
| 1015 | 01:39:26 --> 01:39:32 | orders. It's saying, No, you're not important. But Michael's logic is |
| 1016 | 01:39:32 --> 01:39:36 | important, and we're going to follow what he said. It's almost like I know |
| 1017 | 01:39:36 --> 01:39:45 | what I'm doing. It almost knows like it's dead. So the bodies trade up into |
| 1018 | 01:39:45 --> 01:39:49 | it, and the bulk of the volume is shown in the bodies. The narrative is |
| 1019 | 01:39:49 --> 01:39:54 | determined by what the bodies are are telling you, but the damage where it |
| 1020 | 01:39:54 --> 01:40:00 | takes the unlearned, the the people that are unskilled, the street, money. They |
| 1021 | 01:40:00 --> 01:40:07 | are the victims inside the wicks. Smart Money is tracked by watching the bodies. |
| 1022 | 01:40:08 --> 01:40:13 | That's what's occurring. So when individuals in the capacity of a Smart |
| 1023 | 01:40:13 --> 01:40:19 | Money trader, when they're trading price, they're focusing on the bodies of |
| 1024 | 01:40:19 --> 01:40:24 | the candles. That's what they're found every all of them are following the same |
| 1025 | 01:40:24 --> 01:40:29 | logic that I'm showing you here, but they're not concerned about this because |
| 1026 | 01:40:29 --> 01:40:34 | they know that you're all you're all cannon fodder, all of you, without |
| 1027 | 01:40:34 --> 01:40:38 | having this information, you're all cannon fodder. That means you're going |
| 1028 | 01:40:38 --> 01:40:48 | to get blown away because you don't know it. You're you're brought up in this |
| 1029 | 01:40:48 --> 01:40:52 | industry right from Jump Street with ignorance, with everything that's taught |
| 1030 | 01:40:52 --> 01:40:56 | to you, with retail stuff, you're literally being fed poison, and you |
| 1031 | 01:40:56 --> 01:41:01 | don't even realize it, and they put a little bit of sugar on it by allowing |
| 1032 | 01:41:01 --> 01:41:05 | influencers to do certain shit. And then you think, wow, you know, I want to |
| 1033 | 01:41:05 --> 01:41:10 | trade whatever the hell is that's, you know, you know, exciting right now, with |
| 1034 | 01:41:10 --> 01:41:15 | people putting fast cars and girls barely clothed and whatnot rented |
| 1035 | 01:41:15 --> 01:41:20 | villas. And you think, wow, I could have that if I traded with this bullshit. And |
| 1036 | 01:41:21 --> 01:41:24 | it's easy, all I gotta do is put it on my chart and just tell me if it's going |
| 1037 | 01:41:24 --> 01:41:29 | to be a buy or sell, and it's not important that doesn't make the market |
| 1038 | 01:41:29 --> 01:41:35 | go for down. And having this understanding will change everything |
| 1039 | 01:41:35 --> 01:41:36 | about what you're doing. |
| 1040 | 01:41:42 --> 01:41:47 | I I just take a peek over here on this one minute chart. |
| 1041 | 01:41:53 --> 01:41:57 | Okay, we cleared primary cell side. Went to the lower quadrant of the weekly |
| 1042 | 01:41:57 --> 01:42:00 | bicycle and balance cell, sound efficiency, the remaining portion of the |
| 1043 | 01:42:00 --> 01:42:06 | gap. That means anything above here, there's buy side resting right there. So |
| 1044 | 01:42:06 --> 01:42:11 | they're going to make a run for them, all of these gaps over here now, because |
| 1045 | 01:42:11 --> 01:42:14 | you're part of what this is, part of the sell side of the curve. All this drop |
| 1046 | 01:42:14 --> 01:42:21 | down now we're going up. So look at this like a rock surface of a mountain, okay, |
| 1047 | 01:42:21 --> 01:42:25 | or a rock climber, if it wants to go back up and run for that buy side up |
| 1048 | 01:42:25 --> 01:42:31 | here, it can use all the reference points over here as footholds and |
| 1049 | 01:42:31 --> 01:42:37 | handholds to pull itself up to attack that buy side. It doesn't need to do |
| 1050 | 01:42:37 --> 01:42:42 | that, folks. It can go straight up and just run right forward. And that |
| 1051 | 01:42:42 --> 01:42:47 | sometimes is what you'll end up seeing in days and weeks of Non Farm Payroll, |
| 1052 | 01:42:47 --> 01:42:53 | where it just runs away to get the stop, and it doesn't really give you a chance |
| 1053 | 01:42:53 --> 01:42:58 | to get on that, that last little bit of a move that's also characteristic of |
| 1054 | 01:42:58 --> 01:43:01 | manual intervention. It's also characteristic of Non Farm Payroll weeks |
| 1055 | 01:43:01 --> 01:43:05 | where, if you're a new student of mine, and I'm teaching you how to use PD |
| 1056 | 01:43:05 --> 01:43:09 | arrays, and all of a sudden you see this big sudden run, boom. It just takes off |
| 1057 | 01:43:09 --> 01:43:12 | and goes right for the stops. You're going to send me an email, you're going |
| 1058 | 01:43:12 --> 01:43:15 | to send me comments, you're going to say, but look what it did here. It |
| 1059 | 01:43:15 --> 01:43:18 | didn't do anything, and I can't sit right, and that's because the |
| 1060 | 01:43:18 --> 01:43:23 | characteristic of the market being manipulated. It's not affording anyone |
| 1061 | 01:43:23 --> 01:43:27 | to get on that move, because they're running for the stops. And if you're a |
| 1062 | 01:43:27 --> 01:43:31 | brand new student, that's a very hard thing to communicate and to understand, |
| 1063 | 01:43:31 --> 01:43:35 | because it's like, wait a minute, like I'm looking for patterns. I'm looking |
| 1064 | 01:43:35 --> 01:43:38 | for something to get into a trade. You're talking about how people stops |
| 1065 | 01:43:38 --> 01:43:43 | are being targeted. This sounds a conspiracy theory, and that's why they |
| 1066 | 01:43:43 --> 01:43:48 | they let that type of thing go out in the public. They keep people in there |
| 1067 | 01:43:48 --> 01:43:53 | churning the the water saying, Oh, they're not going after your stop. Oh, |
| 1068 | 01:43:53 --> 01:43:58 | they're not targeting your stop. Are you nuts? Like, seriously, that's exactly |
| 1069 | 01:43:58 --> 01:44:02 | what they're doing. Like they're doing that all the time. That's the lifeblood |
| 1070 | 01:44:02 --> 01:44:08 | of the marketplace. Like without liquidity, nothing's going on, nothing's |
| 1071 | 01:44:08 --> 01:44:12 | going on, no one's trading, no one's getting filled. Without liquidity, you |
| 1072 | 01:44:12 --> 01:44:16 | can't get your long on if somebody ain't willing to be a seller, and I can't get |
| 1073 | 01:44:16 --> 01:44:20 | my short on unless somebody's on the other side trying to be a buyer. That's |
| 1074 | 01:44:20 --> 01:44:25 | liquidity. That's what makes the markets go around, okay, but that liquidity is |
| 1075 | 01:44:25 --> 01:44:34 | scheduled to be taken in at a specific time of day. It's scripted, and the |
| 1076 | 01:44:34 --> 01:44:39 | algorithm doesn't need to know how many contracts or how many lots in forex are |
| 1077 | 01:44:39 --> 01:44:44 | resting above or below relative equal lows or individual highs or lows. So |
| 1078 | 01:44:45 --> 01:44:50 | anyway, I got about eight minutes, and then I'm going to cut bait with y'all |
| 1079 | 01:44:50 --> 01:44:50 | I'm. |
| 1080 | 01:45:00 --> 01:45:05 | It's fun when you sit down and you just lay down all your preconceived ideas |
| 1081 | 01:45:05 --> 01:45:09 | about me as a person, whatever you think you know about the markets, and say, let |
| 1082 | 01:45:09 --> 01:45:13 | me just listen this Diane and let me hear what he has to say, and then watch |
| 1083 | 01:45:13 --> 01:45:16 | what I point out in price and how it should behave and how it should deliver. |
| 1084 | 01:45:17 --> 01:45:24 | And you think about that, it's like, wow, there's no excitement, there's no |
| 1085 | 01:45:26 --> 01:45:31 | no concern for being incorrect about it, and we're all just watching price |
| 1086 | 01:45:32 --> 01:45:37 | deliver, and we're looking for signatures and price action that are |
| 1087 | 01:45:37 --> 01:45:41 | repeating. And if there's something that you're seeing that's repeating over and |
| 1088 | 01:45:41 --> 01:45:44 | over and over again. That's the stuff you're supposed to be writing down in |
| 1089 | 01:45:44 --> 01:45:47 | your journal, the things that you're having the questions pop up in your head |
| 1090 | 01:45:47 --> 01:45:53 | about. That's the early onset of you having a model fleshing out in your own |
| 1091 | 01:45:53 --> 01:45:59 | hands. It may not be the fair value yet you may be seeing something else. Don't |
| 1092 | 01:45:59 --> 01:46:02 | go on to Twitter and say, Hey, I'm paying attention to this. And this is |
| 1093 | 01:46:02 --> 01:46:05 | what my eye keeps seeing. Because really what you're asking for me to do is CO |
| 1094 | 01:46:05 --> 01:46:11 | sign, say, Yeah, I see you. I recognize you today, and to give you like the |
| 1095 | 01:46:11 --> 01:46:15 | attaboy or that girl, and that way, then you can start doing videos. Say, Yeah, |
| 1096 | 01:46:15 --> 01:46:20 | ICT, co sign this. He, he gave me the the approval. He, He touched my |
| 1097 | 01:46:20 --> 01:46:24 | shoulders with his with his sword now knighted. Okay, if you are seeing |
| 1098 | 01:46:24 --> 01:46:31 | something in the charts, just recognize it and start observing it. Record it, |
| 1099 | 01:46:31 --> 01:46:35 | journal it. Screenshot it when you see something, even if I'm not talking about |
| 1100 | 01:46:35 --> 01:46:41 | it, screenshot it and real quickly, you know, just send yourself a text message |
| 1101 | 01:46:41 --> 01:46:47 | or whatnot about what it is that you want to do more research on, but still |
| 1102 | 01:46:47 --> 01:46:51 | watch the live stream live. If you have the ability to watch it live, there's |
| 1103 | 01:46:51 --> 01:46:56 | nothing better than that. For folks that can't be here live, you have the next |
| 1104 | 01:46:56 --> 01:47:01 | best thing, because the recordings are never edited. I can't edit them once the |
| 1105 | 01:47:01 --> 01:47:05 | live stream is done, YouTube has it, and they're never, ever audited. They're |
| 1106 | 01:47:05 --> 01:47:10 | never augmented. There's nothing ever any kind of change to it. Now, I might |
| 1107 | 01:47:10 --> 01:47:15 | change the title and add something after the fact because, you know, I might |
| 1108 | 01:47:15 --> 01:47:19 | include something in the discussion, but the content and the things I say during |
| 1109 | 01:47:19 --> 01:47:23 | the live stream. They're never changed. Either I'm right or wrong. It does what |
| 1110 | 01:47:23 --> 01:47:27 | I said is going to do, or it's not going to do it and or whatever I said is, is |
| 1111 | 01:47:27 --> 01:47:33 | how it is. If I make a mistake and say something that was mislabeled, which |
| 1112 | 01:47:33 --> 01:47:37 | because I'm not using a script, and I'm doing it live, and I'm doing it over |
| 1113 | 01:47:37 --> 01:47:42 | very, very low time frames, I'm human, so I'm going to make a mistake like |
| 1114 | 01:47:42 --> 01:47:47 | that. You don't realize how many times I'm making a mistake saying things in |
| 1115 | 01:47:47 --> 01:47:51 | the pre recorded videos, where I have to go through and edit these things out, |
| 1116 | 01:47:51 --> 01:47:55 | sometimes, like in the pre recorded videos, you never hear me cussing |
| 1117 | 01:47:55 --> 01:48:00 | because I never wanted to have that part in in those pre recorded videos. But you |
| 1118 | 01:48:00 --> 01:48:04 | can hear I cuss because if I see something, and it makes me think about |
| 1119 | 01:48:04 --> 01:48:07 | how I want to discuss something, and then, because I'm thinking about how I |
| 1120 | 01:48:07 --> 01:48:11 | see people literally talking out of their ass. They have no idea what |
| 1121 | 01:48:11 --> 01:48:15 | they're talking about, or they'll misrepresent my concepts, or me, or my |
| 1122 | 01:48:15 --> 01:48:22 | students, or say that this stuff doesn't work, like I'm trying to throttle them, |
| 1123 | 01:48:22 --> 01:48:26 | because I'm literally out here proving that they're they're idiots, like |
| 1124 | 01:48:26 --> 01:48:30 | they're idiots. Anyone that says that this stuff doesn't work at this point |
| 1125 | 01:48:30 --> 01:48:35 | now is someone that should not even be listened to. I don't mind being trolled. |
| 1126 | 01:48:35 --> 01:48:38 | And have, you know, a jab at me once in a while, it's fine. It's fun. But if |
| 1127 | 01:48:38 --> 01:48:41 | you're going to stay here and you're constantly the same guy all the time |
| 1128 | 01:48:41 --> 01:48:44 | saying that didn't happen. You didn't do this, you didn't do that. You're not |
| 1129 | 01:48:44 --> 01:48:48 | watching the streams. You're not paying attention to it because I'm calling it, |
| 1130 | 01:48:48 --> 01:48:53 | I'm outlining it, how it should deliver, where it should go. And you watch me |
| 1131 | 01:48:53 --> 01:49:01 | doing executions now too, with one contract, $3,800 one contract. So if you |
| 1132 | 01:49:01 --> 01:49:05 | were trading with a $10,000 account, that's 38% with one contract and one |
| 1133 | 01:49:05 --> 01:49:12 | fucking day, didn't do the math on that, did you? And that was just me playing |
| 1134 | 01:49:12 --> 01:49:18 | around, just playing around. What happens when you do that five days a |
| 1135 | 01:49:18 --> 01:49:25 | week, London session, New York session, trade the lunch, macro, pm session, last |
| 1136 | 01:49:25 --> 01:49:34 | hour trading, 400% Come on, that's a fucking two day holiday. Get the fuck |
| 1137 | 01:49:34 --> 01:49:43 | out of here. So in the final minutes, I want you to think about how you have to |
| 1138 | 01:49:43 --> 01:49:53 | start scheduling low energy input during the times where there is high impact |
| 1139 | 01:49:53 --> 01:49:57 | news drivers, like the Non Farm Payroll that we're going to have on Friday, |
| 1140 | 01:49:58 --> 01:50:02 | Thursday and Friday of nine. Front payroll. They are a no touch day. If |
| 1141 | 01:50:02 --> 01:50:07 | you're brand new, don't even touch it. Don't do nothing. You can trade the pre |
| 1142 | 01:50:07 --> 01:50:14 | market session before nine o'clock on Wednesday, but as soon as you get to |
| 1143 | 01:50:14 --> 01:50:17 | nine o'clock, if you haven't had a trade, don't do anything. If you're a |
| 1144 | 01:50:17 --> 01:50:24 | new student, don't do anything at all. I want to see it run from here up to mid |
| 1145 | 01:50:24 --> 01:50:33 | gap and expand higher. So mid gap is this red level here, and above that we |
| 1146 | 01:50:33 --> 01:50:42 | have primary buy side. So I would expect that to be the draw going into lunch. |
| 1147 | 01:50:44 --> 01:50:49 | All right, so, but I want you to think about how you can go into your economic |
| 1148 | 01:50:49 --> 01:50:53 | calendar study that and look for high impact news drivers, not the medium |
| 1149 | 01:50:53 --> 01:50:57 | impact ones. Medium impact news drivers, they can be traded. That's not a big |
| 1150 | 01:50:58 --> 01:51:03 | deal the high impact news drivers, if they are, again, in closing, FOMC. |
| 1151 | 01:51:04 --> 01:51:11 | They're usually the afternoon events, two o'clock, 232 stage delivery. Then |
| 1152 | 01:51:11 --> 01:51:21 | you have CPI, ppi, Non Farm Payroll. They are 830 delivery. So you know what |
| 1153 | 01:51:21 --> 01:51:24 | time they're going to occur. If you look at economic calendar, you know every |
| 1154 | 01:51:24 --> 01:51:30 | single month what day they're going to occur. So all you have to determine then |
| 1155 | 01:51:30 --> 01:51:38 | is when in the week are those days of those reports being released. If it's on |
| 1156 | 01:51:38 --> 01:51:42 | a Thursday or Friday, then you know that their best trading is going to be on |
| 1157 | 01:51:42 --> 01:51:48 | Monday and or Tuesday. If the report is on a Monday or a Tuesday, that means you |
| 1158 | 01:51:48 --> 01:51:52 | do nothing at the beginning of the week, and then you'll have solid days easier |
| 1159 | 01:51:52 --> 01:51:57 | trading as the rest of the week trades on. But you have to see where that |
| 1160 | 01:51:57 --> 01:52:01 | report lays inside of the week. Is it on a Monday? Is it on a Tuesday? Is it on a |
| 1161 | 01:52:01 --> 01:52:05 | Wednesday? Is on a Thursday and as a Friday? And how that lands on the |
| 1162 | 01:52:05 --> 01:52:10 | calendar, what day of the week it falls on, will help you look at the |
| 1163 | 01:52:10 --> 01:52:15 | information that I put in my 2017, mentorship lessons, where I teach the |
| 1164 | 01:52:15 --> 01:52:20 | weekly profiles, how the weekly candlestick will paint. And by using the |
| 1165 | 01:52:20 --> 01:52:24 | economic calendar, you can kind of like, get a feel for, oh yeah there if I'm |
| 1166 | 01:52:24 --> 01:52:29 | bullish, generally on a higher time frame, and then I see a CPI PPI number, |
| 1167 | 01:52:29 --> 01:52:34 | or, like, this week we have Non Farm Payroll, so we've already satisfied the |
| 1168 | 01:52:34 --> 01:52:38 | move going down into this blue shaded area, which is that weekly buy side of |
| 1169 | 01:52:38 --> 01:52:43 | balance, Outside efficiency. Just watch the first 15 minutes of Monday's live |
| 1170 | 01:52:43 --> 01:52:48 | stream. Okay, if you watch that, you'll see exactly what I'm talking about. |
| 1171 | 01:52:48 --> 01:52:56 | Where that information came from. It delivered it perfectly. So because it's |
| 1172 | 01:52:56 --> 01:52:59 | a nonprofit period week, it's already done enough for me. I don't need to do |
| 1173 | 01:52:59 --> 01:53:05 | anything else for you when you're looking at your economic calendars. It's |
| 1174 | 01:53:05 --> 01:53:08 | a real good study for for you to do it when we're done with the live stream or |
| 1175 | 01:53:08 --> 01:53:12 | tonight, if you go home from work or from university or whatever it is you're |
| 1176 | 01:53:12 --> 01:53:17 | doing, pull up an economic calendar. Go to Forex factory.com, or econo day |
| 1177 | 01:53:18 --> 01:53:27 | calendar, and look at, for instance, October, where is the CPI number? Where |
| 1178 | 01:53:27 --> 01:53:35 | is the PPI number, any FOMC. Then look at November. Do the same thing and look |
| 1179 | 01:53:35 --> 01:53:42 | at what day those high impact red folder events, ppi, CPI, FOMC and Non Farm |
| 1180 | 01:53:42 --> 01:53:50 | Payroll. Those are the the destroyers, okay, they are the the Reapers that are |
| 1181 | 01:53:50 --> 01:53:56 | going to come through your harvest and tear it all up. They're, they're the rot |
| 1182 | 01:53:57 --> 01:54:01 | in your harvest. So you have to be careful being around them, because if |
| 1183 | 01:54:01 --> 01:54:05 | you lay your good money around them, they're going to infect and cause it to |
| 1184 | 01:54:05 --> 01:54:11 | decay too. So cut that stuff out of your trading. Don't allow that that report or |
| 1185 | 01:54:11 --> 01:54:16 | the manipulation around it to affect what you have built or what you're |
| 1186 | 01:54:16 --> 01:54:20 | building. So since you're all trying to harvest money, think about it like that. |
| 1187 | 01:54:20 --> 01:54:25 | If, if you're cultivating this, this opportunity of making money in the |
| 1188 | 01:54:25 --> 01:54:31 | marketplace, you're basically creating a farm, and you want to be able to harvest |
| 1189 | 01:54:31 --> 01:54:39 | this continuously and have a healthy farm of income, these reports are like a |
| 1190 | 01:54:39 --> 01:54:44 | plague if you don't offer any opportunity for them to touch your |
| 1191 | 01:54:44 --> 01:54:50 | harvest, then you can't be affected by them, but you have to be aware of them, |
| 1192 | 01:54:50 --> 01:54:57 | because when they're in in the field, that means in the week that you're |
| 1193 | 01:54:57 --> 01:55:00 | trading, you have to handle yourself, care for. It |
| 1194 | 01:55:01 --> 01:55:06 | because they have an effect before the day of its release, and they have a |
| 1195 | 01:55:06 --> 01:55:12 | specific effect after their release. Trading gets easier on the other side of |
| 1196 | 01:55:12 --> 01:55:17 | them, trading against them up to the point of release of that data is harder |
| 1197 | 01:55:17 --> 01:55:20 | than it needs to be. So if you understand that simple characteristic, |
| 1198 | 01:55:20 --> 01:55:23 | that's not complicated, is it? It's pretty simple. It's pretty simple, |
| 1199 | 01:55:23 --> 01:55:27 | straightforward, but you wouldn't get that, you know, in me talking about a |
| 1200 | 01:55:27 --> 01:55:31 | five minute video, because you're going to have 1000 different questions, and I |
| 1201 | 01:55:31 --> 01:55:34 | covered a lot of questions that would have came up otherwise by everything I |
| 1202 | 01:55:34 --> 01:55:40 | said today. So know your calendar, know your events, know your characteristics, |
| 1203 | 01:55:40 --> 01:55:43 | how price is going to behave. Know, what day of the week that reports are going |
| 1204 | 01:55:43 --> 01:55:47 | to come out, Non Farm Payroll Friday. It's a built in thing. It's always a |
| 1205 | 01:55:47 --> 01:55:51 | first Friday of the month generally. And then there it is, you know, it's going |
| 1206 | 01:55:51 --> 01:55:56 | to be a Friday event. So if it's going to be Non Farm Payroll trading, that |
| 1207 | 01:55:56 --> 01:56:01 | protocol is you have to trade the Monday. You absolutely have to trade the |
| 1208 | 01:56:01 --> 01:56:07 | Monday, because Monday's trading on Non Farm Payroll is easy trading. It's easy, |
| 1209 | 01:56:07 --> 01:56:12 | easy, easy trading. And Tuesday can be rather decent as well. But soon as we |
| 1210 | 01:56:12 --> 01:56:19 | get into London of Tuesday, my local time in the United States, you think |
| 1211 | 01:56:19 --> 01:56:23 | about New York local time, the London session of Wednesday, which would be |
| 1212 | 01:56:23 --> 01:56:30 | technically Tuesday night, going into Wednesday morning. For me, that London |
| 1213 | 01:56:30 --> 01:56:35 | session usually is the last bit of good price action. And then when we get to |
| 1214 | 01:56:35 --> 01:56:41 | the New York session, it tends to become messy. But if you look at London last |
| 1215 | 01:56:41 --> 01:56:47 | night, that was a shit show, because everything that's going on between Iran |
| 1216 | 01:56:47 --> 01:56:54 | and Israel, so because they're lobbying each other with terrible weapons of |
| 1217 | 01:56:54 --> 01:57:02 | destruction, the market makers are there. They were using London to set the |
| 1218 | 01:57:02 --> 01:57:07 | stage for this morning. And you watch what we did this morning. We mapped it |
| 1219 | 01:57:07 --> 01:57:13 | out, looked at what was likely to happen with no emotion. I mean, I'm sure it was |
| 1220 | 01:57:13 --> 01:57:16 | fun when it was going to where we said we're going to go, and you probably |
| 1221 | 01:57:16 --> 01:57:19 | smile, or you probably slapped your knee, said, hot damn, this ICT did it |
| 1222 | 01:57:19 --> 01:57:24 | again. And that's fun, that's cool, but it's not. It's not something you should |
| 1223 | 01:57:24 --> 01:57:29 | try to hop yourself up about in the same thing, don't be fearful or upset when it |
| 1224 | 01:57:29 --> 01:57:32 | doesn't deliver. When you're studying, you're doing a laboratory. That's all it |
| 1225 | 01:57:32 --> 01:57:36 | is. It's like it's a laboratory experiment, and you're trying to get the |
| 1226 | 01:57:36 --> 01:57:43 | data collected with experience. The experience is the data you seeing. Price |
| 1227 | 01:57:43 --> 01:57:48 | do these things repeating over and over and over again, and if you don't record |
| 1228 | 01:57:48 --> 01:57:51 | it, if you don't journal it, if you don't screenshot it, if you don't write |
| 1229 | 01:57:51 --> 01:57:59 | down what it is that you are observing. I don't like iPhones. I will never own |
| 1230 | 01:57:59 --> 01:58:03 | another apple device in ever. I will never have another one. Fucking trash. I |
| 1231 | 01:58:03 --> 01:58:09 | will never have one. But your phone has a voice recorder. If you have an iPhone, |
| 1232 | 01:58:09 --> 01:58:15 | Samsung has something equivalent to as well. While you're watching the live |
| 1233 | 01:58:15 --> 01:58:19 | stream, okay, you can have a digital recorder too. Like I have a digital |
| 1234 | 01:58:19 --> 01:58:24 | recorder. Like, sometimes when I'm driving around, I can't stop and pull |
| 1235 | 01:58:24 --> 01:58:29 | over and write down stuff. I used to do that when I was working as a vendor, but |
| 1236 | 01:58:29 --> 01:58:36 | now I always keep a digital recorder in either in my vet or in my SUVs or |
| 1237 | 01:58:36 --> 01:58:40 | wherever I'm driving. I don't ever have it in my wife's car, because I'm not |
| 1238 | 01:58:40 --> 01:58:44 | allowed to do that kind of stuff when I'm with her. I'm simply just with her. |
| 1239 | 01:58:44 --> 01:58:52 | But if I could sneak one in there, I would. But the the idea of having a |
| 1240 | 01:58:52 --> 01:58:57 | voice recording while you're watching the live stream, like, if you're if you |
| 1241 | 01:58:57 --> 01:59:05 | see something like, right now we're watching this. It's at 1006. Okay, so |
| 1242 | 01:59:05 --> 01:59:11 | six minutes after 10, I I want to look into why price is expanding lower after |
| 1243 | 01:59:11 --> 01:59:16 | it went back to the consequent question, the mid gap. And then there it is, |
| 1244 | 01:59:16 --> 01:59:21 | because, unless you are logging something, because my videos tend to be |
| 1245 | 01:59:21 --> 01:59:28 | long. Not this one, because we're gonna we're gonna close it the and that's not |
| 1246 | 01:59:28 --> 01:59:31 | a joke. It's not a cleanse line. I'm telling you, I'm closing it every time I |
| 1247 | 01:59:31 --> 01:59:35 | say something, it's got a little bit more detail I need to add to it by you |
| 1248 | 01:59:35 --> 01:59:39 | recording it in a digital format. You're not writing anything down. You're still |
| 1249 | 01:59:39 --> 01:59:42 | watching price, and you're probably still hearing what I'm saying, but |
| 1250 | 01:59:42 --> 01:59:46 | you're not as attentive, but at least you're making a notation about what you |
| 1251 | 01:59:46 --> 01:59:50 | want to specifically go back into. Because if you don't do that, I'm going |
| 1252 | 01:59:50 --> 01:59:55 | to say something else in the video, or eventually, there's going to be a day |
| 1253 | 01:59:55 --> 01:59:59 | where I get it entirely wrong. I mean, you have a couple weeks left, right? I |
| 1254 | 01:59:59 --> 02:00:02 | might get it in. Highly wrong, and then you're going to be met with that as |
| 1255 | 02:00:02 --> 02:00:09 | something to wrestle with. Wow. And he went like eight weeks and a half of |
| 1256 | 02:00:09 --> 02:00:12 | consistently being able to say what was going to happen. But today, he was |
| 1257 | 02:00:12 --> 02:00:17 | really off today, and you won't retain anything that was said or something that |
| 1258 | 02:00:17 --> 02:00:20 | you would have been thinking about going back and doing your own research on, |
| 1259 | 02:00:21 --> 02:00:26 | because you didn't write it down, because you didn't record it. And a |
| 1260 | 02:00:28 --> 02:00:33 | voice recording is the easy way for taking notes. And then you listen to |
| 1261 | 02:00:33 --> 02:00:38 | that note, visual, I'm sorry, audible note, and you write it down your journal |
| 1262 | 02:00:38 --> 02:00:41 | as a questioner, or whatever it is that you were trying to do that causes |
| 1263 | 02:00:41 --> 02:00:46 | specific attention to it. For those that have the ability to sit down here and |
| 1264 | 02:00:46 --> 02:00:51 | write down, you're just going to write down at 10 minutes. I'm sorry, 10 |
| 1265 | 02:00:51 --> 02:00:58 | minutes at seven minutes after 10 on the 15 second chart, fair value gap, |
| 1266 | 02:00:59 --> 02:01:04 | question mark, or whatever that interest or concern was, just write it down, but |
| 1267 | 02:01:04 --> 02:01:09 | just still keep watching the live stream. Some of you don't want to do |
| 1268 | 02:01:09 --> 02:01:14 | that. That's why you you don't watch it live, because you don't necessarily want |
| 1269 | 02:01:14 --> 02:01:17 | to be doing anything to copy me. So you're going to get the same experience |
| 1270 | 02:01:17 --> 02:01:22 | that way. When you watch the stream, you can pause it, rewind it again, pause it, |
| 1271 | 02:01:22 --> 02:01:26 | write down your stuff. And that's fine, and that avoids having a second watch of |
| 1272 | 02:01:26 --> 02:01:30 | it. But for those that are going to watch it live, you either going to have |
| 1273 | 02:01:30 --> 02:01:35 | to watch the stream twice or do voice recordings. You have it on your |
| 1274 | 02:01:35 --> 02:01:39 | smartphone, just have it in your hand, and then when you see me talk about |
| 1275 | 02:01:39 --> 02:01:42 | something, or you see something in the chart that I'm not referring to, but |
| 1276 | 02:01:42 --> 02:01:45 | you're like, wow, I need to take a look at this later on. If you don't do that, |
| 1277 | 02:01:45 --> 02:01:51 | you're probably going to forget about it, and that's terrible, because I've |
| 1278 | 02:01:51 --> 02:01:55 | learned my lesson. So by having a voice recorder, it's a little digital voice |
| 1279 | 02:01:55 --> 02:01:59 | recorder. It doesn't cost that much to have them. When I'm driving around, I'll |
| 1280 | 02:01:59 --> 02:02:04 | get an idea, usually about lectures, usually something that I want to teach |
| 1281 | 02:02:05 --> 02:02:08 | on or I'll I'll have questions that certain students in my private |
| 1282 | 02:02:08 --> 02:02:13 | mentorship have asked me, and I have deferred answering them or deferred |
| 1283 | 02:02:13 --> 02:02:19 | putting them into the next lecture like this, and predominantly, it's most of |
| 1284 | 02:02:19 --> 02:02:23 | The things I'm talking about are actually questions that I know would |
| 1285 | 02:02:23 --> 02:02:28 | come up in my son's mind while I'm talking about certain things. And if |
| 1286 | 02:02:28 --> 02:02:32 | it's not that, it's questions that my paid private mentorship students that no |
| 1287 | 02:02:32 --> 02:02:36 | one can join. I'm not doing a private mentorship for money anymore. Just stop |
| 1288 | 02:02:36 --> 02:02:40 | asking. You can't join it. But I have to tell you that this is the framework of |
| 1289 | 02:02:40 --> 02:02:44 | majority of why I talk so much, because I'm answering their questions. You're |
| 1290 | 02:02:44 --> 02:02:49 | not privy to what they're asking. You're not part of that community, but I'm |
| 1291 | 02:02:49 --> 02:02:55 | obligated to that community, because they paid to be in that position. So |
| 1292 | 02:02:55 --> 02:03:00 | when they ask questions, I look for opportunities, how I can show them in |
| 1293 | 02:03:00 --> 02:03:04 | real time price action. It's altogether something different. If I just simply |
| 1294 | 02:03:04 --> 02:03:08 | said, Well, you're asking about when the fair value gap can become an inversion |
| 1295 | 02:03:08 --> 02:03:12 | fair value gap, and what time of the day does that become problematic, and when |
| 1296 | 02:03:12 --> 02:03:16 | is it more likely to occur? Well, when I talk about it over price action live, |
| 1297 | 02:03:17 --> 02:03:22 | they see me explain it before it actually develops. So not only do I get |
| 1298 | 02:03:22 --> 02:03:25 | the chance to explain to them and answer their question, but I'm also |
| 1299 | 02:03:25 --> 02:03:29 | demonstrating it with prowess and ability and skill set to prove that it's |
| 1300 | 02:03:29 --> 02:03:34 | not something in hindsight. So everything that I do when I'm talking is |
| 1301 | 02:03:34 --> 02:03:37 | methodical. It's not because I love the sound on voice. Case, in fact, I don't |
| 1302 | 02:03:37 --> 02:03:41 | like the way I sound, but I do want to make sure that my students and my |
| 1303 | 02:03:41 --> 02:03:46 | children that are watching these videos, they understand to the degree that I'm |
| 1304 | 02:03:46 --> 02:03:50 | willing to share, because I don't want them to know just a little piece of it. |
| 1305 | 02:03:50 --> 02:03:55 | I want you to understand it intimately, like I want you to know every aspect |
| 1306 | 02:03:56 --> 02:04:01 | about this specific thing and what things have an impact on it, what things |
| 1307 | 02:04:01 --> 02:04:06 | are not that impactful for what you're watching me discuss. That's mentoring, |
| 1308 | 02:04:06 --> 02:04:11 | that's someone that knows exactly what they're doing and understands the source |
| 1309 | 02:04:11 --> 02:04:15 | material. Otherwise, I'm going to talk about it after it happens, like |
| 1310 | 02:04:15 --> 02:04:19 | everybody else is going to do, and you're not learning that way, you could |
| 1311 | 02:04:19 --> 02:04:23 | just do the same thing. Think about it. Some of you are paying money to people, |
| 1312 | 02:04:23 --> 02:04:27 | and they're talking about shit in Market Replay. And you know what an order block |
| 1313 | 02:04:27 --> 02:04:31 | is by the term. And you can probably go back through the charts and look at |
| 1314 | 02:04:31 --> 02:04:34 | Market Replay and say, Oh, look, here's a down close candle, and it went down |
| 1315 | 02:04:34 --> 02:04:37 | into that later on at this certain time when I never would have expected it, |
| 1316 | 02:04:37 --> 02:04:41 | because I don't know what I'm doing. So therefore I can now talk about this |
| 1317 | 02:04:41 --> 02:04:44 | actually happening, and you can talk to yourself in the same way and save the |
| 1318 | 02:04:44 --> 02:04:49 | money you're not learning from those people. They're talking about |
| 1319 | 02:04:49 --> 02:04:54 | yesterday's headline news, and they're putting a price tag on it. Hey, pay me |
| 1320 | 02:04:54 --> 02:04:58 | for yesterday's newspaper. Come on, man, if you know you know you. |
| 1321 | 02:05:00 --> 02:05:04 | That's that's the bullshit. But when you can come out here and say what the |
| 1322 | 02:05:04 --> 02:05:07 | headlines are going to be tomorrow, and then the headlines are what you said is |
| 1323 | 02:05:07 --> 02:05:13 | going to be, and then you can prove it down to a 15 second interval, suddenly |
| 1324 | 02:05:13 --> 02:05:17 | there's something different. There's a stark contrast there. And that's why I |
| 1325 | 02:05:17 --> 02:05:22 | do what I do. I stay in an area, in a small, little inner circle where nobody |
| 1326 | 02:05:22 --> 02:05:27 | else gets to step into it's just me. I'm in here by myself, and in that little, |
| 1327 | 02:05:27 --> 02:05:36 | tiny circle, I allow my experience to be viewed by commentary, by lectures, and I |
| 1328 | 02:05:36 --> 02:05:41 | share my experience with you, and over time, being exposed to that experience, |
| 1329 | 02:05:42 --> 02:05:46 | you will adopt your own experience, and that is the collection of the data that |
| 1330 | 02:05:46 --> 02:05:51 | you are harvesting when we do these live streams. Whenever you watch my old pre |
| 1331 | 02:05:51 --> 02:05:55 | recorded videos, it's the same thing you should be listening and if you see |
| 1332 | 02:05:55 --> 02:05:58 | something in there that's outside the scope of what I'm talking about, take |
| 1333 | 02:05:58 --> 02:06:02 | note of that, because what's actually occurring is your subconscious is keyed |
| 1334 | 02:06:02 --> 02:06:09 | up on something that is drawing your attention to it. It's interested your |
| 1335 | 02:06:09 --> 02:06:14 | your reticular activating system is keyed up on this very thing, and if you |
| 1336 | 02:06:14 --> 02:06:20 | don't pay attention to it, you might actually slow your progress down if you |
| 1337 | 02:06:20 --> 02:06:25 | see something that's inviting your curiosity, explore it. Have fun with it. |
| 1338 | 02:06:26 --> 02:06:32 | It may be another PD array. It might be a propulsion block. It might be a |
| 1339 | 02:06:32 --> 02:06:38 | institutional order for entry drill. It might be simply the breaker. It could be |
| 1340 | 02:06:38 --> 02:06:43 | an inversion breaker, where someone would see a higher high, and it breaks |
| 1341 | 02:06:43 --> 02:06:47 | down, and it looks like a market structure, structure shift lower, and if |
| 1342 | 02:06:47 --> 02:06:51 | it trades back up to the low of the bearish breaker, you think that that's a |
| 1343 | 02:06:51 --> 02:06:54 | short. But what happens if it's really higher Time Frame bullish, it's going to |
| 1344 | 02:06:54 --> 02:06:59 | trade up to that bearish breaker and trade above its candle that makes the |
| 1345 | 02:06:59 --> 02:07:04 | breaker and then use that as a bull shorter block. That might be your motto. |
| 1346 | 02:07:04 --> 02:07:11 | That might be your go to thing. But if you don't explore these little early |
| 1347 | 02:07:11 --> 02:07:15 | stages of curiosity, this is the fun part of your your journey right now, |
| 1348 | 02:07:15 --> 02:07:20 | folks like, this is the fun part. This is the most exciting part, because once |
| 1349 | 02:07:20 --> 02:07:24 | you know what you're doing. It's fucking boring, like it is boring as shit, |
| 1350 | 02:07:24 --> 02:07:26 | looking at these candlesticks and saying, This is what it's going to do. |
| 1351 | 02:07:26 --> 02:07:30 | And you lose all that magic of that, that aha moment, that moment of |
| 1352 | 02:07:30 --> 02:07:34 | astonishment, but that first experience in your own hands. It's like losing your |
| 1353 | 02:07:34 --> 02:07:38 | virginity the first time. It's like, wow, I'll never be able to live this |
| 1354 | 02:07:38 --> 02:07:44 | again. I'll never be able to have that moment again. And it's amazing. You |
| 1355 | 02:07:44 --> 02:07:49 | literally have this once in a lifetime experience every single time you learn |
| 1356 | 02:07:49 --> 02:07:56 | something new about that one individual topic, because once you know it, the |
| 1357 | 02:07:56 --> 02:08:02 | magic's gone. The novelty wears off quick. It's literally going to the next |
| 1358 | 02:08:02 --> 02:08:06 | thing, because I have lots of shiny new objects. So if your subconscious is |
| 1359 | 02:08:06 --> 02:08:10 | keying up on something that's outside of the scope of my conversation in the |
| 1360 | 02:08:10 --> 02:08:17 | lecture, don't. Don't ignore that. Do not ignore that. I try to foster the |
| 1361 | 02:08:17 --> 02:08:24 | flexibility in you as the student to let yourself your personality and what |
| 1362 | 02:08:24 --> 02:08:27 | you're interested in, because I don't know what you're studying, what you |
| 1363 | 02:08:27 --> 02:08:29 | spent the most time in, and you don't realize you're doing it either. In the |
| 1364 | 02:08:29 --> 02:08:32 | beginning, you might go in thinking, I'm going to do what Caleb's doing. I'm |
| 1365 | 02:08:32 --> 02:08:35 | going to learn the fair value guy. I'm going to do Caleb Cameron's model. I'm |
| 1366 | 02:08:35 --> 02:08:38 | going to trade the silver bullet. I'm going to use Michael's daughter's model |
| 1367 | 02:08:38 --> 02:08:43 | for 2022 or I'm going to use the optimal trade entry. Fuck all this extra stuff |
| 1368 | 02:08:43 --> 02:08:48 | I've been sticking with ot I'm OG for ote, Okay, wonderful. You got your |
| 1369 | 02:08:48 --> 02:08:52 | model. Wonderful, but I'm not going to stop teaching my kids and making content |
| 1370 | 02:08:52 --> 02:08:58 | for them because you found out your model. That's That's great. I'm glad. I |
| 1371 | 02:08:58 --> 02:09:03 | want all of you to do that, but if you don't explore your initial curiosity, |
| 1372 | 02:09:03 --> 02:09:06 | that you keep seeing things pop up in the chart, and I'm not drawing your |
| 1373 | 02:09:06 --> 02:09:10 | attention to it. There's a lot of things I'm seeing in price action. I'm |
| 1374 | 02:09:10 --> 02:09:13 | expecting to see certain things behave and certain candles to form this way or |
| 1375 | 02:09:13 --> 02:09:18 | that way. But it's not germane to what it is I'm discussing at the time I'm |
| 1376 | 02:09:18 --> 02:09:23 | aware of it. I got 81 ways that I can see all these things, doing stuff, but |
| 1377 | 02:09:23 --> 02:09:27 | if it's not part of the discussion at that given time, it's not going to |
| 1378 | 02:09:27 --> 02:09:32 | increase the efficacy of the lecture I'm trying to deliver. It's actually going |
| 1379 | 02:09:32 --> 02:09:37 | to cause too many moving parts, and it's going to dilute the message of that |
| 1380 | 02:09:37 --> 02:09:42 | individual perspective or focus for that day or that session, right? Livestream. |
| 1381 | 02:09:43 --> 02:09:50 | So anyway, I gave you an extra 16 minutes, no no extra chart. So I'm going |
| 1382 | 02:09:50 --> 02:09:53 | to close this one here today. I'm going to wish you all very pleasant day. |
| 1383 | 02:09:53 --> 02:09:57 | Hopefully you learned something today. Hopefully you were encouraged by another |
| 1384 | 02:09:57 --> 02:10:01 | tape reading session. You can see what we were looking for. And that is going |
| 1385 | 02:10:01 --> 02:10:06 | to be it for today, until I'll talk to you again tomorrow. I think, if I'm not |
| 1386 | 02:10:06 --> 02:10:11 | mistaken, I think we're going to do another eight o'clock start. I'll |
| 1387 | 02:10:11 --> 02:10:17 | probably, I'll probably be on time this time, but we'll try to be here tomorrow |
| 1388 | 02:10:17 --> 02:10:20 | at eight o'clock, or just shortly after eight, worst case scenario, because |
| 1389 | 02:10:20 --> 02:10:24 | there'll be a news driver at 830 and I want to study that with you real time. |
| 1390 | 02:10:25 --> 02:10:29 | And unless the Lord takes me home before that, I will touch with you then and |
| 1391 | 02:10:29 --> 02:10:30 | till then, be safe. Do. |