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Last modified by Drunk Monkey on 2024-10-08 13:31
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2 |1 |00:00:55 ~-~-> 00:01:05 |ICT: Morning, folks, guys, can give me A heads up on the audio you should be
3 |2 |00:01:05 ~-~-> 00:01:11 |seeing the charts now. I'm checking Twitter see if you guys can hear me.
4 |3 |00:01:11 ~-~-> 00:01:13 |Just give me a five by five.
5 |4 |00:01:20 ~-~-> 00:01:21 |Momentum. Thank you.
6 |5 |00:01:27 ~-~-> 00:01:33 |Cynthia Max, thank you, sir. All right so Eduardo, thank you. I
7 |6 |00:01:43 ~-~-> 00:01:51 |Alright, so we have a economic news driver out in a couple minutes. Bro
8 |7 |00:01:51 ~-~-> 00:01:54 |says, I wonder if the trade, if it didn't pay him out, if it would have
9 |8 |00:01:54 ~-~-> 00:01:58 |been recorded and shared. He wasn't watching the blockchain yesterday.
10 |9 |00:01:58 ~-~-> 00:02:06 |Apparently, I and you wonder why I do it like this. It's entertainment, all
11 |10 |00:02:06 ~-~-> 00:02:12 |right, so we have the one minute chart over here, and I'm going to take all
12 |11 |00:02:12 ~-~-> 00:02:15 |this stuff off here because it was in the recording.
13 |12 |00:02:21 ~-~-> 00:02:29 |So you can watch that whole business pan out on the Twitter. Example I just
14 |13 |00:02:29 ~-~-> 00:02:36 |shared, the management, the entering all this. But I want to go out to a 15
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
16 |15 |00:02:44 ~-~-> 00:02:44 |news driver.
17 |16 |00:02:51 ~-~-> 00:03:00 |All right, so going into this economic news, they use these as volatility
18 |17 |00:03:00 ~-~-> 00:03:08 |injections, meaning that they're going to use it as an excuse, basically as the
19 |18 |00:03:08 ~-~-> 00:03:20 |why price moved, when, in fact, it's Just manual intervention. Today is
20 |19 |00:03:20 ~-~-> 00:03:28 |Wednesday of nonprofit payroll, and this is typically when I tell my students to
21 |20 |00:03:28 ~-~-> 00:03:34 |sit still. Don't do anything. If you haven't made money on the week yet,
22 |21 |00:03:34 ~-~-> 00:03:39 |don't bother trying. You can demo trade. You can paper trade tape read what not.
23 |22 |00:03:39 ~-~-> 00:03:45 |But Wednesday, after 11 o'clock in the morning, the market gets into a very
24 |23 |00:03:46 ~-~-> 00:03:52 |challenging market condition for new students, not experienced traders. I'm
25 |24 |00:03:52 ~-~-> 00:03:56 |not saying that if you don't know how to trade, obviously you should be in here
26 |25 |00:03:56 ~-~-> 00:04:02 |when the market's more inclined to be problematic. So we have cell side here.
27 |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
28 |27 |00:04:16 ~-~-> 00:04:25 |I'm going to bounce. I want to get caught up on some some things for the
29 |28 |00:04:25 ~-~-> 00:04:30 |house that I want to make sure I have plenty of. If you haven't already gone
30 |29 |00:04:30 ~-~-> 00:04:35 |out and stocked up on some things in your United States, you might want to do
31 |30 |00:04:35 ~-~-> 00:04:46 |that, because I was out last night getting bottled water and paper towels
32 |31 |00:04:46 ~-~-> 00:04:53 |just to get some more of them. And it was wild. It was like Black Friday, when
33 |32 |00:04:53 ~-~-> 00:04:57 |everybody goes out and goes crazy shopping. It was just like that. All the
34 |33 |00:04:57 ~-~-> 00:05:06 |water was gone, toilet paper. Gone, paper towels gone, and it's because of
35 |34 |00:05:06 ~-~-> 00:05:14 |the strike with the dock workers. So just a little old service announcement.
36 |35 |00:05:18 ~-~-> 00:05:22 |All right, so that's my focus for where I think they're going to target
37 |36 |00:05:23 ~-~-> 00:05:28 |individual, specific liquidity. Now, above this liquidity, we have this city
38 |37 |00:05:28 ~-~-> 00:05:40 |in here, like that. And then, if you recall what I opened up the week with
39 |38 |00:05:40 ~-~-> 00:05:47 |with my analysis, I showed you where on the weekly chart, the blue shaded area
40 |39 |00:05:47 ~-~-> 00:05:52 |here, on this 15 minute chart here, that is the weekly bicep. LSL, Sun
41 |40 |00:05:52 ~-~-> 00:05:58 |efficiency, and it's the midpoint of it. So weekly busy. That was the framework,
42 |41 |00:05:58 ~-~-> 00:06:07 |basically off of this entry, this drive down, in all this movement here, was
43 |42 |00:06:07 ~-~-> 00:06:12 |based on just anticipating a run up into these relative equal highs right there,
44 |43 |00:06:13 ~-~-> 00:06:19 |because it's pre market, because it's Non Farm Payroll protocol, meaning that
45 |44 |00:06:19 ~-~-> 00:06:25 |You got to keep things real light. Try to be nimble as possible, or don't
46 |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
47 |46 |00:06:29 ~-~-> 00:06:34 |better to sit on the sidelines Wednesday, Thursday and Friday of Non
48 |47 |00:06:34 ~-~-> 00:06:41 |Farm Payroll. Yes, Non Farm Payroll is a event at 830 on Friday this coming week,
49 |48 |00:06:41 ~-~-> 00:06:47 |but it's the conditions that that week every single month. This is what we do.
50 |49 |00:06:48 ~-~-> 00:06:51 |But we always try to go in and try to trade on the Monday of that week,
51 |50 |00:06:51 ~-~-> 00:06:56 |because the early bird gets the worm here. Okay, it's not like the the
52 |51 |00:06:56 ~-~-> 00:07:01 |analogy where the second mouse gets the cheese. In this case, it's the early
53 |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.
54 |53 |00:07:05 ~-~-> 00:07:09 |So when they're clean on Monday and Tuesday after that, things get a little
55 |54 |00:07:09 ~-~-> 00:07:14 |bit more 5050, and as we get into Thursday, it becomes a whole lot more
56 |55 |00:07:14 ~-~-> 00:07:21 |potluck, and it's challenging for a new student, so to protect them, also to
57 |56 |00:07:21 ~-~-> 00:07:27 |remind them that their infancy as as a speculator or student in price action,
58 |57 |00:07:28 ~-~-> 00:07:32 |it's not going to serve them well to be in here trying to do something because
59 |58 |00:07:32 ~-~-> 00:07:35 |it's going to frustrate it's going to cause you a second guess. You're
60 |59 |00:07:35 ~-~-> 00:07:40 |probably going to do it wrong, and you're going to retain that and
61 |60 |00:07:40 ~-~-> 00:07:45 |immortalize it as something that was painful for yourself, and simply just
62 |61 |00:07:45 ~-~-> 00:07:49 |avoiding it, not trying to push and, you know, push a button, trying to make
63 |62 |00:07:49 ~-~-> 00:07:53 |yourself feel good about getting something right. Don't expect to be
64 |63 |00:07:53 ~-~-> 00:07:57 |right, and that way you can't hurt your feelings right. So we have a little bit
65 |64 |00:07:57 ~-~-> 00:08:03 |of sell side, resting bow here, you can see it here, also on the 15 second
66 |65 |00:08:03 ~-~-> 00:08:03 |chart.
67 |66 |00:08:17 ~-~-> 00:08:23 |Cell sides below there, and we just traded to the top of that weekly buy
68 |67 |00:08:23 ~-~-> 00:08:29 |side of balance, outside of efficiency. Now, because we hit our target, opened
69 |68 |00:08:29 ~-~-> 00:08:34 |up with on Monday. We traded down into it. We left a little portion of it open.
70 |69 |00:08:34 ~-~-> 00:08:40 |I favor an attempt to try to go higher only because of the long term trend
71 |70 |00:08:40 ~-~-> 00:08:44 |being bullish. It's an election year. They're trying to fluff this thing up,
72 |71 |00:08:44 ~-~-> 00:08:47 |so just be mindful that I
73 |72 |00:09:04 ~-~-> 00:09:12 |Okay, so over here, if you look at this portion of price action, we've disrupted
74 |73 |00:09:12 ~-~-> 00:09:15 |these relative equal highs, cheered up into this sell side, imbalanced by
75 |74 |00:09:15 ~-~-> 00:09:24 |sudden efficiency. Right there, and then there's a small, little minor buy side
76 |75 |00:09:24 ~-~-> 00:09:25 |liquidity pool there. I'm
77 |76 |00:09:46 ~-~-> 00:09:51 |now if it would have done something like this, watch, if it would have dropped
78 |77 |00:09:51 ~-~-> 00:09:58 |down, traded below both of these lows here initially, and then rallied up and
79 |78 |00:09:58 ~-~-> 00:10:02 |had this fair value got like that. I would be in there long as it went over
80 |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
81 |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
82 |81 |00:10:15 ~-~-> 00:10:19 |does this, but hasn't done something else, then you have another decision
83 |82 |00:10:19 ~-~-> 00:10:19 |making. I
84 |83 |00:10:32 ~-~-> 00:10:37 |notice we're in the upper quadrant of that weekly last time and balanced cell,
85 |84 |00:10:37 ~-~-> 00:10:44 |sign, efficiency, everything in the blue area that is that weekly chart. And let
86 |85 |00:10:44 ~-~-> 00:10:48 |me also just take you out there, right behind you, because I know some of you
87 |86 |00:10:48 ~-~-> 00:10:56 |haven't watched everything, or you cherry pick what you want to watch
88 |87 |00:10:56 ~-~-> 00:11:02 |because they're too long with video. Get to the point. Here's that buy side of
89 |88 |00:11:02 ~-~-> 00:11:06 |balance, cell sign efficiency, this individual candlestick, that's that blue
90 |89 |00:11:06 ~-~-> 00:11:11 |shaded area. I told you when we were up here, we were likely to trade down into
91 |90 |00:11:11 ~-~-> 00:11:21 |that this week. And we've done a swimming job of like a swimming guys
92 |91 |00:11:21 ~-~-> 00:11:25 |across the pond that's on something right out of your vocabulary.
93 |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
94 |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
95 |94 |00:11:55 ~-~-> 00:12:01 |and disrupt all this stuff here, because it's too smooth. And even though we have
96 |95 |00:12:02 ~-~-> 00:12:12 |nothing really to speak of at 830 the Diago usually uses 830 anyway, because
97 |96 |00:12:12 ~-~-> 00:12:13 |it's coded to do so,
98 |97 |00:12:20 ~-~-> 00:12:26 |meaning that price will start spooling around 830 going into the nine o'clock
99 |98 |00:12:26 ~-~-> 00:12:34 |hour, and that'll be the countdown to opening bell. So let's go back, put this
100 |99 |00:12:34 ~-~-> 00:12:43 |in a five minute chart. A lot of feedback from your space live stream.
101 |100 |00:12:43 ~-~-> 00:12:48 |You guys liked it and give give yourself something to do when you're watching
102 |101 |00:12:48 ~-~-> 00:12:52 |price action practice. It's not about being right or wrong, but you'll
103 |102 |00:12:52 ~-~-> 00:12:58 |condition yourself to see what it is you're asking me to teach you that only
104 |103 |00:12:58 ~-~-> 00:13:01 |experience will give you the right fair value gap.
105 |104 |00:13:08 ~-~-> 00:13:13 |As you are probably aware, things have kicked off over the Middle East, and
106 |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
107 |106 |00:13:19 ~-~-> 00:13:25 |they will not waste that opportunity. Obviously, they will punish individuals
108 |107 |00:13:25 ~-~-> 00:13:30 |that don't know very much about trading. There's a little minor buy side resting
109 |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
110 |109 |00:13:51 ~-~-> 00:13:52 |And we have to do
111 |110 |00:14:28 ~-~-> 00:14:33 |uh, again, I unless something really unexpected comes out in left field, like
112 |111 |00:14:33 ~-~-> 00:14:42 |some kind of personal, not personal, some kind of Middle East event that
113 |112 |00:14:42 ~-~-> 00:14:49 |really is shocking, some kind of major attack unfolds. I don't expect the
114 |113 |00:14:49 ~-~-> 00:14:56 |market to drop. I expected to try to keep working towards its higher, long
115 |114 |00:14:56 ~-~-> 00:15:02 |term trend, and that's because it's a. Election year. So they're they're
116 |115 |00:15:02 ~-~-> 00:15:07 |constantly fluffing this thing up. There's no reason for stocks to be where
117 |116 |00:15:07 ~-~-> 00:15:11 |they're at. But, you know, that's the game. It's rigged. It's artificial. And
118 |117 |00:15:12 ~-~-> 00:15:16 |stupid people think that that is a barometer for the economy, and it's not.
119 |118 |00:15:18 ~-~-> 00:15:21 |It's the scoreboard for stupid people versus smart people.
120 |119 |00:15:35 ~-~-> 00:15:39 |Okay, see that. See this volume imbalance here that actually overlays
121 |120 |00:15:39 ~-~-> 00:15:45 |with this little fair value gap ahead of that minor buy side, and then we have
122 |121 |00:15:45 ~-~-> 00:15:53 |the buy side here at 996 even. So there's two things converging there, and
123 |122 |00:15:56 ~-~-> 00:15:58 |there's a small little volume of valance as well. I'm
124 |123 |00:16:12 ~-~-> 00:16:24 |what's the benefit of having the the expectation that a less informed or less
125 |124 |00:16:24 ~-~-> 00:16:31 |experienced student studying price action, why should they try not to trade
126 |125 |00:16:31 ~-~-> 00:16:37 |on the Wednesday, the Thursday and the Friday of non comparable? Because what
127 |126 |00:16:37 ~-~-> 00:16:44 |you're going to demand in terms of accuracy, precision, correctness, not
128 |127 |00:16:44 ~-~-> 00:16:48 |that that's important, but in the beginning, you as a student, you
129 |128 |00:16:48 ~-~-> 00:16:52 |emphasize that more than it's required. You have to be very forgiving in the
130 |129 |00:16:52 ~-~-> 00:17:00 |beginning. So if you have given yourself the permission to not engage during
131 |130 |00:17:00 ~-~-> 00:17:05 |these times. You will not pick up bad habits. You will not create toxic
132 |131 |00:17:05 ~-~-> 00:17:13 |thinking. You'll not have a bad experience when you're probably going to
133 |132 |00:17:13 ~-~-> 00:17:18 |go into it looking for these tools, these concepts, to do well in your
134 |133 |00:17:18 ~-~-> 00:17:25 |hands, when everything, every school of thought is going to be spinning their
135 |134 |00:17:25 ~-~-> 00:17:30 |wheels many times on this week. Because, yes, everyone's approach can find a
136 |135 |00:17:30 ~-~-> 00:17:34 |setup. But if you keep trading, keep trading, keep trading, eventually going
137 |136 |00:17:34 ~-~-> 00:17:41 |to get beat up because the market tends to just not want to go anywhere. It just
138 |137 |00:17:41 ~-~-> 00:17:47 |sits still and it trades in these small, little, tiny ranges. And by defining
139 |138 |00:17:47 ~-~-> 00:17:54 |where the closest buy side or buy stops or the closest sell side or sell stops,
140 |139 |00:17:54 ~-~-> 00:18:00 |where they're at, you can get a better feel for what they're trying to attack,
141 |140 |00:18:01 ~-~-> 00:18:06 |and usually, whatever initial sell side or buy sides taken, all you have to do
142 |141 |00:18:06 ~-~-> 00:18:11 |is flip it and go the other direction. That's usually how I approach if I'm
143 |142 |00:18:11 ~-~-> 00:18:16 |going to be trading on the Wednesday, Thursday or Friday of Non Farm Payroll
144 |143 |00:18:16 ~-~-> 00:18:22 |week, I'm usually doing that so I I identify the pools of liquidity, and I
145 |144 |00:18:22 ~-~-> 00:18:26 |want to see them engaged, trade through them. And then once it does it, I would
146 |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
147 |146 |00:18:30 ~-~-> 00:18:36 |here, because we're in this part of the week where I don't expect sustained
148 |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
149 |148 |00:18:41 ~-~-> 00:18:46 |these types of things to study and practice, and if you get stopped out, or
150 |149 |00:18:46 ~-~-> 00:18:50 |if it keeps running, who cares, you treat it the same way you did yesterday.
151 |150 |00:18:50 ~-~-> 00:18:54 |Everything's a new learning experience. So look what they did. They took it up
152 |151 |00:18:54 ~-~-> 00:18:59 |real close to these highs, but stopped short of it. And now we're sitting down
153 |152 |00:18:59 ~-~-> 00:19:03 |here at the top of that weekly buy side imbalance, sell side efficiency, and we
154 |153 |00:19:03 ~-~-> 00:19:10 |trade it down into this volume imbalance and order block. So if it's bullish, it
155 |154 |00:19:10 ~-~-> 00:19:16 |should start to spoil here and run to the buy side we're
156 |155 |00:19:22 ~-~-> 00:19:28 |what would make that idea stronger if it would have started by going down below
157 |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
158 |157 |00:19:32 ~-~-> 00:19:36 |it at this outlined here. It just means that it's better to do that now. Why
159 |158 |00:19:36 ~-~-> 00:19:42 |would why would that make that better by going down here first before every
160 |159 |00:19:42 ~-~-> 00:19:49 |substantial price run, or let me say differently, before every significant
161 |160 |00:19:49 ~-~-> 00:19:53 |price run. What's the significant price run? Something that you can you can
162 |161 |00:19:53 ~-~-> 00:20:00 |trade it, you can predict it, and it has a price run that is not just. 10
163 |162 |00:20:00 ~-~-> 00:20:07 |handles, not 20 handles, but you know, 3050, or more, that type of price run
164 |163 |00:20:07 ~-~-> 00:20:16 |usually is the result after seeing some kind of liquidity taken. And in this
165 |164 |00:20:16 ~-~-> 00:20:22 |event, we see relative equal lows. Think about the higher time frame. It's it's
166 |165 |00:20:22 ~-~-> 00:20:25 |bullish. It's an election year. They keep propping it up. Anytime it goes
167 |166 |00:20:25 ~-~-> 00:20:33 |down, they keep sending it higher. So if it goes down to take sell, stops here
168 |167 |00:20:33 ~-~-> 00:20:40 |first, and then rallies up. It's easier to trust any discount array if it does
169 |168 |00:20:40 ~-~-> 00:20:44 |this first, because it's already taken out people that would be profitable,
170 |169 |00:20:44 ~-~-> 00:20:49 |right, if it went higher. So by going down, it tricks people into thinking it
171 |170 |00:20:49 ~-~-> 00:20:54 |broke support. So therefore they're going to go short on a breakout, or it
172 |171 |00:20:54 ~-~-> 00:20:58 |goes down below that low to stop out anyone that's long. So they're not
173 |172 |00:20:58 ~-~-> 00:21:03 |allowed to take a ride higher. So especially during the Wednesday,
174 |173 |00:21:03 ~-~-> 00:21:09 |Thursday and Friday of nonprofit payroll week, this is my initial go to strategy,
175 |174 |00:21:09 ~-~-> 00:21:14 |where I'm looking at watching price. I have to identify where the near term buy
176 |175 |00:21:14 ~-~-> 00:21:18 |side and sell side is, and I have to wait for one of these liquidities to be
177 |176 |00:21:18 ~-~-> 00:21:22 |taken first. We have not seen either one of them yet. So that's why we're
178 |177 |00:21:22 ~-~-> 00:21:26 |indifferent right now. We're just sitting still. I'm just outlining if I
179 |178 |00:21:26 ~-~-> 00:21:31 |would have seen this one taken first by going down first, and then it rallied
180 |179 |00:21:31 ~-~-> 00:21:35 |like that. I would have been using the things up here, as I mentioned earlier,
181 |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
182 |181 |00:21:41 ~-~-> 00:21:47 |get to a higher Time Frame, cool liquidity. But because we're just still
183 |182 |00:21:47 ~-~-> 00:21:53 |building these areas where stops are building, there's traders in here doing
184 |183 |00:21:53 ~-~-> 00:21:56 |buying and selling. They are absolutely happening, but the buying and selling
185 |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
186 |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
187 |186 |00:22:12 ~-~-> 00:22:16 |of volatility pinball where it's just going to bang around and knock into
188 |187 |00:22:16 ~-~-> 00:22:22 |stops and not have any directional bias. That is going to serve you on the daily
189 |188 |00:22:22 ~-~-> 00:22:28 |trend. So avoid having the mindset of having a daily trend or a trending day
190 |189 |00:22:29 ~-~-> 00:22:34 |on nine Farm Payroll weeks. Just expect it to be range bound. Expect it to bop.
191 |190 |00:22:34 ~-~-> 00:22:39 |Go to the buy, stops, bump them, do like a broken wing trick. Like, okay, yeah,
192 |191 |00:22:39 ~-~-> 00:22:43 |I'm gonna, I'm gonna start trending higher and then stop, go back into the
193 |192 |00:22:43 ~-~-> 00:22:47 |range, or trade down to the sell side, and then go right back in the middle of
194 |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
195 |194 |00:22:54 ~-~-> 00:22:58 |looking for how the market will use the liquidity. And you can clearly see that
196 |195 |00:22:58 ~-~-> 00:23:02 |they did not take those yet, and they did not take these yet. So these are the
197 |196 |00:23:02 ~-~-> 00:23:07 |initial ones, and because they're so close to to the market, that's why
198 |197 |00:23:07 ~-~-> 00:23:14 |they're minor, sell side liquidity, primary, buy side and sell side. We look
199 |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
200 |199 |00:23:19 ~-~-> 00:23:24 |did here on a on a five minute one minute chart and 15 minute chart, you
201 |200 |00:23:24 ~-~-> 00:23:29 |would annotate that same way, looking for clean highs, clean lows, or a
202 |201 |00:23:29 ~-~-> 00:23:35 |singular high or singular low, and they are your primary buy side and sell side
203 |202 |00:23:35 ~-~-> 00:23:42 |liquidity pools, but you don't look for them until you get to nine o'clock. Why
204 |203 |00:23:42 ~-~-> 00:23:46 |because you're waiting for the opening bell, and after the opening bell, it's
205 |204 |00:23:46 ~-~-> 00:23:50 |going to run for one of those pools of liquidity. What you're trying to do is
206 |205 |00:23:51 ~-~-> 00:23:56 |you're looking for instances where you already have a higher Time Frame, daily,
207 |206 |00:23:56 ~-~-> 00:24:02 |weekly, the market's already drawn to where I outlined on Monday, like I'm I'm
208 |207 |00:24:02 ~-~-> 00:24:06 |completely satisfied for this week, but I'm just streaming because I told you I
209 |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
210 |209 |00:24:10 ~-~-> 00:24:15 |doing the last two days. I'm only going to stay long enough to go through the
211 |210 |00:24:15 ~-~-> 00:24:19 |opening bell with you, the first 30 minutes of opening range, and then I'm
212 |211 |00:24:19 ~-~-> 00:24:26 |going to, I'm going to break session with you, but the the focus for you is
213 |212 |00:24:26 ~-~-> 00:24:32 |to determine what it's likely to do on that weekly and daily chart. And let's
214 |213 |00:24:32 ~-~-> 00:24:35 |assume that we didn't trade down into the blue shaded area, which is that
215 |214 |00:24:36 ~-~-> 00:24:40 |weekly buy $7 sign efficiency that outlined on Monday at the beginning of
216 |215 |00:24:40 ~-~-> 00:24:45 |the live stream. Go watch that again. It is, say it was lower still, and we
217 |216 |00:24:45 ~-~-> 00:24:49 |haven't traded down here, then I would favor something like running up here,
218 |217 |00:24:49 ~-~-> 00:24:54 |taking the buy side, and then selling off, and then using every premium array,
219 |218 |00:24:54 ~-~-> 00:24:58 |some kind of a fair value gap, some kind of bearish order block, a bearish
220 |219 |00:24:58 ~-~-> 00:25:03 |breaker. I would. Use things like that to get short, to ride down into my
221 |220 |00:25:03 ~-~-> 00:25:09 |weekly and or daily higher Time Frame, draw on it, on liquidity. So because
222 |221 |00:25:09 ~-~-> 00:25:14 |it's already done what it was outlined for me for my analysis this week, and
223 |222 |00:25:14 ~-~-> 00:25:18 |because it's a Non Farm Payroll week, it's a short week for me, like I
224 |223 |00:25:18 ~-~-> 00:25:25 |wouldn't be trying to do anything else, but to prove that my concepts can still
225 |224 |00:25:25 ~-~-> 00:25:30 |ferret out setups even in these types of conditions, I'm sitting with you
226 |225 |00:25:30 ~-~-> 00:25:36 |outlining price. But there's no there's no trade here right now. The trade I
227 |226 |00:25:36 ~-~-> 00:25:40 |just showed early on that was available, but simply because we haven't got that
228 |227 |00:25:40 ~-~-> 00:25:46 |close to the first news driver came out today at 815 and if you're not looking
229 |228 |00:25:46 ~-~-> 00:25:50 |at economic calendar, you can find that on forex factory, com or econo day
230 |229 |00:25:51 ~-~-> 00:25:55 |calendar, they're both free. You don't have to pay for anything to have it, and
231 |230 |00:25:55 ~-~-> 00:26:01 |you need to know what, what injections of volatility are likely to enter the
232 |231 |00:26:01 ~-~-> 00:26:07 |marketplace up close candle after running up they left these relative eco
233 |232 |00:26:07 ~-~-> 00:26:10 |highs here we're trading right at the bottom of that candlestick, right there.
234 |233 |00:26:10 ~-~-> 00:26:16 |See that? So let me annotate that. You'll see it. You'll see it populate on
235 |234 |00:26:16 ~-~-> 00:26:22 |the chart to the right on that 15 second. We're just hammering on the
236 |235 |00:26:22 ~-~-> 00:26:32 |bottom of this up close candle, and I would prefer to see it. Use this
237 |236 |00:26:32 ~-~-> 00:26:37 |information here to probe the cell side resting below here. We have a down
238 |237 |00:26:37 ~-~-> 00:26:43 |closed candle there, so as long as it stays above the main threshold of this
239 |238 |00:26:43 ~-~-> 00:26:49 |down close candle, that would be in my in my mind, bullish.
240 |239 |00:27:00 ~-~-> 00:27:04 |So there's the mean threshold of the down closed candle. It's a bullish order
241 |240 |00:27:04 ~-~-> 00:27:10 |block. So if it does go below here, my eyes are focused on this individual
242 |241 |00:27:10 ~-~-> 00:27:16 |candlestick. If we trade through it and it has a close below then, and what only
243 |242 |00:27:16 ~-~-> 00:27:20 |that? Well, the order block is on what time frame? What's this time frame? Up
244 |243 |00:27:21 ~-~-> 00:27:28 |here, five minute. So it would if it lays a body down and puts it below the
245 |244 |00:27:28 ~-~-> 00:27:32 |middle of this and it closes down, what that has done is it's breached its mean
246 |245 |00:27:32 ~-~-> 00:27:38 |threshold. It means it's it's indicating that this is not a good area to expect
247 |246 |00:27:38 ~-~-> 00:27:43 |the price to stop at. It may go lower, not all the time. It just means that
248 |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
249 |248 |00:27:48 ~-~-> 00:27:51 |was to just trade down into it in the upper half and never even touch the mean
250 |249 |00:27:51 ~-~-> 00:27:56 |threshold, which is an ideal situation, but you never want to see it explore on
251 |250 |00:27:56 ~-~-> 00:28:05 |a candlestick body's delivery. In the lower half of a potential bullish order
252 |251 |00:28:05 ~-~-> 00:28:12 |block. All right, we're back at the top of that weekly buy side and balance cell
253 |252 |00:28:12 ~-~-> 00:28:13 |sign efficiency.
254 |253 |00:28:20 ~-~-> 00:28:25 |Still no setups looking for things, and what I would like to see is not an
255 |254 |00:28:25 ~-~-> 00:28:34 |entry. I just want to see either one of these pools of liquidity traded to I
256 |255 |00:28:34 ~-~-> 00:28:38 |don't personally care, really which one it does, but that's what we're going to
257 |256 |00:28:38 ~-~-> 00:28:42 |be observing this morning. That's how it behaves once it trades to here or trades
258 |257 |00:28:42 ~-~-> 00:28:49 |to here. Does it use the other one as a catalyst for trading to it?
259 |258 |00:28:56 ~-~-> 00:28:59 |I should have, I should have stopped before I said, I don't care. I really
260 |259 |00:28:59 ~-~-> 00:29:05 |prefer, like I said earlier, I prefer it to take the sell side first, because
261 |260 |00:29:05 ~-~-> 00:29:09 |that makes it good for when it goes above. Here it could explore a little
262 |261 |00:29:09 ~-~-> 00:29:14 |bit higher, but down here, it would be better for it to hit it first, attack
263 |262 |00:29:14 ~-~-> 00:29:19 |that relative equal low and then go higher. It doesn't need to do it just
264 |263 |00:29:19 ~-~-> 00:29:23 |means that for me to feel confident about reading to take with you live and
265 |264 |00:29:23 ~-~-> 00:29:27 |call out individual PDA raise that I trust. I'd prefer they take the
266 |265 |00:29:27 ~-~-> 00:29:32 |liquidity out underneath the market first by doing that. What that is
267 |266 |00:29:33 ~-~-> 00:29:39 |essentially occurring is smart money's buying, or they would have the
268 |267 |00:29:39 ~-~-> 00:29:44 |opportunity to buy at a cheap discount price, because they're sellers below
269 |268 |00:29:44 ~-~-> 00:29:49 |these relative equal lows, protecting their long positions. So if it trades
270 |269 |00:29:49 ~-~-> 00:29:54 |below there, those sell stocks become market orders to sell at the market. So
271 |270 |00:29:54 ~-~-> 00:29:59 |smart money can accumulate their longs by just going in and buying that up and.
272 |271 |00:30:00 ~-~-> 00:30:07 |Till it's exhausted, and then once that sell side's been engaged, smart money's
273 |272 |00:30:07 ~-~-> 00:30:12 |now on board with long positions. Early longs are now stopped out with a loss.
274 |273 |00:30:13 ~-~-> 00:30:16 |Breakout artists that want to sell short on a breakout they're tripped in short,
275 |274 |00:30:17 ~-~-> 00:30:23 |so they're trapped short, and then the market will reprice higher. So because
276 |275 |00:30:23 ~-~-> 00:30:29 |I'm siding on the the daily, long term higher Time Frame trend being bullish,
277 |276 |00:30:29 ~-~-> 00:30:32 |because it's an election year, because they're trying to keep the market
278 |277 |00:30:32 ~-~-> 00:30:37 |propped up. They don't want to have an election if you think we're going to
279 |278 |00:30:37 ~-~-> 00:30:41 |have one, if you look at the administration, it's in power right now.
280 |279 |00:30:42 ~-~-> 00:30:48 |They don't want to have anything that looks like they didn't do well. And the
281 |280 |00:30:48 ~-~-> 00:30:53 |public's perspective is what the stock market equals the economy, and it's not
282 |281 |00:30:54 ~-~-> 00:30:58 |so. That's why you're seeing this artificial propping up of the stock
283 |282 |00:30:58 ~-~-> 00:31:02 |market, because there's literally no reason for any of these stocks to be
284 |283 |00:31:02 ~-~-> 00:31:09 |where they're at. But it convinces the the dumb money in the street that, hey,
285 |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
286 |285 |00:31:12 ~-~-> 00:31:16 |much is your groceries costing you? How much your how much is your utility bill
287 |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
288 |287 |00:31:21 ~-~-> 00:31:27 |too. Get ready, and that's just preliminary expectations. If we start
289 |288 |00:31:27 ~-~-> 00:31:31 |seeing wild stuff going on, people tearing up stuff, then your premiums are
290 |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
291 |290 |00:31:38 ~-~-> 00:31:43 |going to see how long you want to keep them next year? Yeah.
292 |291 |00:31:54 ~-~-> 00:31:59 |Now it could do something like this, because we still have time the it could
293 |292 |00:31:59 ~-~-> 00:32:04 |take the buy side, don't run after doing that, take the buy side, come all the
294 |293 |00:32:04 ~-~-> 00:32:11 |way back down, and hit the sell side, and then range in between the high to
295 |294 |00:32:11 ~-~-> 00:32:15 |farms here and whatever low it makes going into opening bell. That would be a
296 |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
297 |296 |00:32:27 ~-~-> 00:32:31 |Payroll week, because I know that there's literally so many things that
298 |297 |00:32:31 ~-~-> 00:32:37 |could cause the market to do certain things that would upset any trade idea
299 |298 |00:32:37 ~-~-> 00:32:41 |that I or anyone else with another methodology would have, and that's
300 |299 |00:32:41 ~-~-> 00:32:45 |that's exactly why I tell my students don't touch it on Wednesday, Thursday
301 |300 |00:32:45 ~-~-> 00:32:49 |and Friday. Now I'm sticking to the rules where you can trade the morning
302 |301 |00:32:49 ~-~-> 00:32:56 |session, but when we were trading and teaching Forex, by seven o'clock in the
303 |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
304 |303 |00:33:00 ~-~-> 00:33:02 |allowed to you're not allowed to do anything. So
305 |304 |00:33:08 ~-~-> 00:33:16 |we're rolling into the morning session here, where for stock index futures, if
306 |305 |00:33:16 ~-~-> 00:33:21 |you can trade the pre session, pre market hours, which is what you watch me
307 |306 |00:33:21 ~-~-> 00:33:25 |do on Twitter? That's fine. I have no problem with that. I would never try to
308 |307 |00:33:25 ~-~-> 00:33:27 |say, well, that's something you shouldn't have
309 |308 |00:33:35 ~-~-> 00:33:40 |done, all right. So we have two poles of liquidity on the upside here.
310 |309 |00:33:50 ~-~-> 00:33:52 |And there's one resting right up here, so I'm
311 |310 |00:34:06 ~-~-> 00:34:16 |on Non Farm Payroll weeks, and on FOMC weeks and CPI week and PPI weeks, those
312 |311 |00:34:16 ~-~-> 00:34:21 |reports, those events, they are going to be the weeks that, if you were asking
313 |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
314 |313 |00:34:27 ~-~-> 00:34:33 |pass by not do anything with execution wise, it's those weeks barring anything
315 |314 |00:34:33 ~-~-> 00:34:41 |else outside of those individual, impactful events. Again, I'll say them
316 |315 |00:34:41 ~-~-> 00:34:54 |again. It's FOMC, Non Farm Payroll, CPI and ppi, those big high energy
317 |316 |00:34:54 ~-~-> 00:35:04 |attraction reports or events. They use those. For disruption, and they'll use
318 |317 |00:35:04 ~-~-> 00:35:10 |those big report information that it's dumped at 830 whatever, or in the
319 |318 |00:35:10 ~-~-> 00:35:18 |afternoon for FOMC. They're used as a perfect smoke screen to justify, oh,
320 |319 |00:35:18 ~-~-> 00:35:23 |well, look, you know the this report caused the market to go here. But when
321 |320 |00:35:23 ~-~-> 00:35:27 |you look at the data, and if you subscribe to the view that these people
322 |321 |00:35:27 ~-~-> 00:35:32 |use for using fundamental data, to me, you're fundamentally stupid to just look
323 |322 |00:35:32 ~-~-> 00:35:36 |at the data, because that data is already cooked in it's already baked in
324 |323 |00:35:36 ~-~-> 00:35:41 |the price. So I don't ever worry about the raw information. I'm watching the
325 |324 |00:35:42 ~-~-> 00:35:48 |the level of energy right ahead, and then at the time of the news driver
326 |325 |00:35:49 ~-~-> 00:35:53 |releasing, and then what we see immediately after that, where does the
327 |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
328 |327 |00:35:57 ~-~-> 00:36:01 |to study fundamentals. I thought for sure I was going to figure it out. And
329 |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
330 |329 |00:36:07 ~-~-> 00:36:12 |an intraday basis. So and reason why I say that is because the raw information
331 |330 |00:36:12 ~-~-> 00:36:19 |that comes out with these impactful news drivers, they may be viewed from the
332 |331 |00:36:19 ~-~-> 00:36:24 |fundamentalist perspective that this should be constructive or bullish for
333 |332 |00:36:24 ~-~-> 00:36:29 |equities or stocks, therefore the stock index should go higher. That means it
334 |333 |00:36:29 ~-~-> 00:36:33 |should be bullish, right? But what happens? Sometimes, more times than you
335 |334 |00:36:33 ~-~-> 00:36:39 |want to see it, it'll go down when it should be interpreted as bullish, or
336 |335 |00:36:39 ~-~-> 00:36:43 |it'll go up when it should be interpreted as bearish. So what are you
337 |336 |00:36:43 ~-~-> 00:36:49 |left with? It didn't take me long to see that this is garbage, and it was
338 |337 |00:36:49 ~-~-> 00:36:54 |tricking me. And I used to have services where I would subscribe to that were
339 |338 |00:36:54 ~-~-> 00:36:58 |supposedly going to give me the, you know, the tip beforehand. So I got
340 |339 |00:36:58 ~-~-> 00:37:03 |scammed before I did all that same stuff you probably thought about doing, and
341 |340 |00:37:03 ~-~-> 00:37:08 |none of that stuff works. So what I just concluded was I'm going to anticipate a
342 |341 |00:37:08 ~-~-> 00:37:15 |lot of volatility around these reports. And if I don't have something clear cut
343 |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
344 |343 |00:37:20 ~-~-> 00:37:23 |probably going to do nothing, and I'm going to do very little trading on that
345 |344 |00:37:23 ~-~-> 00:37:29 |week, and we try to focus on early part of the week, ahead of that heavy news
346 |345 |00:37:29 ~-~-> 00:37:36 |impact driver. What I'm saying is a red folder or high impact news event or
347 |346 |00:37:36 ~-~-> 00:37:42 |report, or a medium or orange colored folder report, in deference to the
348 |347 |00:37:42 ~-~-> 00:37:46 |people that use Forex, factories calendar, you won't see that on the
349 |348 |00:37:46 ~-~-> 00:37:52 |economy. It kind of days counter is a little bit more plain Jane. But the the
350 |349 |00:37:52 ~-~-> 00:37:58 |emphasis, the the magnitude of how much volatility will come into the
351 |350 |00:37:58 ~-~-> 00:38:04 |marketplace, is not directly linked to the report itself. It's the fact that
352 |351 |00:38:05 ~-~-> 00:38:12 |the hand that is in control of price this, you know, this entity, okay, we'll
353 |352 |00:38:12 ~-~-> 00:38:19 |call collectively the market maker. They will, many times, move the market to a
354 |353 |00:38:19 ~-~-> 00:38:26 |degree. And I I have such a wide disparity that where price was before
355 |354 |00:38:26 ~-~-> 00:38:32 |the report hits the market and then minutes after, and that's untradable.
356 |355 |00:38:32 ~-~-> 00:38:36 |You cannot enter in the marketplace when it's like that, and trading ahead of
357 |356 |00:38:36 ~-~-> 00:38:44 |that is stupid. So because it creates the It's an invitation to lose money,
358 |357 |00:38:44 ~-~-> 00:38:47 |basically, is what I'm getting at when you're trading on the Wednesday,
359 |358 |00:38:47 ~-~-> 00:38:53 |Thursday and Friday of Non Farm Payroll. Now, how can you skew those odds?
360 |359 |00:38:54 ~-~-> 00:38:58 |Because you want to trade on Friday Non Farm Payroll, you have to wait until 830
361 |360 |00:38:59 ~-~-> 00:39:04 |hits, and then after the bell opened, then you can trade it normally, but at
362 |361 |00:39:04 ~-~-> 00:39:08 |830 you should not be in the market ahead of time. No way, absolutely not,
363 |362 |00:39:09 ~-~-> 00:39:14 |because it's a carnival ride, as you'll see this riding, it'll be wild. And
364 |363 |00:39:15 ~-~-> 00:39:22 |I've, I've watched instances where in one minute, you know, we've had 250 plus
365 |364 |00:39:22 ~-~-> 00:39:29 |candles on a non front payroll event, and one candlestick in one minute,
366 |365 |00:39:30 ~-~-> 00:39:34 |prices traversed that much in NASDAQ. And you think you're going to trade that
367 |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
368 |367 |00:39:40 ~-~-> 00:39:44 |these are instances where you see the the data would have been viewed as
369 |368 |00:39:45 ~-~-> 00:39:49 |bullish or bearish, and the market does the opposite. So what happens? Then the
370 |369 |00:39:49 ~-~-> 00:39:53 |fundamentalists are thinking, although I was fundamentally wrong here, so I stick
371 |370 |00:39:53 ~-~-> 00:39:56 |to the technicals. So when I'm looking at the markets, I'm focusing on
372 |371 |00:39:56 ~-~-> 00:40:00 |technically speaking, this is what I think the market's going to do. What. As
373 |372 |00:40:00 ~-~-> 00:40:03 |a fundamentalist, let's say fundamentally speaking, I believe that
374 |373 |00:40:03 ~-~-> 00:40:06 |the interest rates are going to cause the market to this, this, this, this,
375 |374 |00:40:06 ~-~-> 00:40:10 |and it has a very long term macro perspective over price, which I won't
376 |375 |00:40:10 ~-~-> 00:40:16 |argue with against that. But for day trading purposes, very, very short term
377 |376 |00:40:16 ~-~-> 00:40:22 |intraday fluctuations, the data itself isn't necessarily going to benefit you
378 |377 |00:40:22 ~-~-> 00:40:27 |all the time. So I just look for these impactful days on the economic calendar
379 |378 |00:40:28 ~-~-> 00:40:35 |to anticipate the market being harder that given week. And if I have the
380 |379 |00:40:35 ~-~-> 00:40:38 |opportunity to trade early in the week to get whatever scratch I'm trying to
381 |380 |00:40:38 ~-~-> 00:40:45 |get, I'm going to do that, and then I'll demo trade paper trade encourage my
382 |381 |00:40:45 ~-~-> 00:40:51 |students through tape reading the rest of the time, so it removes any inherent
383 |382 |00:40:51 ~-~-> 00:40:57 |risks that I could get caught up in, because I can hurt myself in those
384 |383 |00:40:57 ~-~-> 00:41:03 |environments, because there's something in the marketplace that's cannibalizing
385 |384 |00:41:04 ~-~-> 00:41:09 |more so than when it's not. And you'll understand that the more time you spend
386 |385 |00:41:09 ~-~-> 00:41:14 |studying and being aware of the economic calendar, when these reports are due,
387 |386 |00:41:14 ~-~-> 00:41:18 |they're always scheduled in advance. You can look at an economic calendar for
388 |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
389 |388 |00:41:21 ~-~-> 00:41:24 |can see where the Non Farm Payroll is going to be. It tells you the very time
390 |389 |00:41:24 ~-~-> 00:41:28 |it's getting it's being released, so they're not hiding it from you. So you
391 |390 |00:41:28 ~-~-> 00:41:35 |can schedule all of your trading in advance, and you can also schedule when
392 |391 |00:41:35 ~-~-> 00:41:37 |you're going to sit still and not do anything.
393 |392 |00:41:38 ~-~-> 00:41:43 |But how much effort have you placed in that in terms of your trading, looking
394 |393 |00:41:43 ~-~-> 00:41:47 |for times when you simply are not going to do something, where you incur risk?
395 |394 |00:41:47 ~-~-> 00:41:50 |You probably never even thought about it like that, but that's exactly what a
396 |395 |00:41:50 ~-~-> 00:41:55 |professional trader does. They identify problem areas. They don't want to be
397 |396 |00:41:55 ~-~-> 00:41:59 |caught behind enemy lines when they're going to be outgunned, outmanned, and
398 |397 |00:41:59 ~-~-> 00:42:03 |that's essentially what you're trying to do when you're trading around real close
399 |398 |00:42:03 ~-~-> 00:42:09 |to these big news events. And Non Farm Payroll is a poster child for wrecking
400 |399 |00:42:09 ~-~-> 00:42:14 |and blowing accounts. I have blown accounts using it. I have made a little
401 |400 |00:42:14 ~-~-> 00:42:19 |bit of money. And that little bit of money that I made on it being right once
402 |401 |00:42:19 ~-~-> 00:42:26 |in a few times gave me, early on, this insatiable desire to conquer it, and I
403 |402 |00:42:26 ~-~-> 00:42:30 |have never been able to conquer it, meaning that I can't be right about
404 |403 |00:42:30 ~-~-> 00:42:34 |where it's going to go before the employment data is released. I can't
405 |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,
406 |405 |00:42:40 ~-~-> 00:42:44 |you know in the future anymore, as I've done enough damage to myself, and I've
407 |406 |00:42:44 ~-~-> 00:42:47 |learned that the PPI and the CPI number can rip your head off, literally
408 |407 |00:42:47 ~-~-> 00:42:53 |instantly. And if you're wrong, it's unforgiving. So while all those reports
409 |408 |00:42:53 ~-~-> 00:42:58 |are tradable after they release to the marketplace and let some time, minimum
410 |409 |00:42:58 ~-~-> 00:43:04 |15 minutes, wait for the news, the hit whatever happens for the next 15
411 |410 |00:43:04 ~-~-> 00:43:09 |minutes, then start studying price, and you're going to be looking for one
412 |411 |00:43:09 ~-~-> 00:43:15 |minute and sub one minute price delivery. If you start noticing that how
413 |412 |00:43:15 ~-~-> 00:43:19 |PD arrays are not being respected, there's there's no rhyme or reason why
414 |413 |00:43:19 ~-~-> 00:43:23 |it's stopping and turning where it is, and it's just being real sporadic. That
415 |414 |00:43:23 ~-~-> 00:43:27 |means they're still in there doing stuff. Don't touch it. Don't put your
416 |415 |00:43:27 ~-~-> 00:43:31 |hands on it at all. And then wait for the PD arrays, like the imbalances, like
417 |416 |00:43:31 ~-~-> 00:43:36 |the fair value gap, if it starts supporting price at the consequent
418 |417 |00:43:36 ~-~-> 00:43:39 |encroachment, that's usually one of the real quick go to things I like to look
419 |418 |00:43:39 ~-~-> 00:43:44 |for, because the middle of a fair value graph is until I taught it to you,
420 |419 |00:43:44 ~-~-> 00:43:49 |nobody's concerned about it. Nobody's ever paid any attention to it. But when
421 |420 |00:43:49 ~-~-> 00:43:54 |there is manipulation in the marketplace, you're not going to see
422 |421 |00:43:54 ~-~-> 00:43:59 |that consequent approach being respected. It's going to eat right
423 |422 |00:43:59 ~-~-> 00:44:03 |through the entire fair value gap. And that's indicating that what you got to
424 |423 |00:44:03 ~-~-> 00:44:08 |sit still still. You have to just remain still and let the market settle that
425 |424 |00:44:08 ~-~-> 00:44:13 |down. And when they stop being in there manually, you'll be able to recognize
426 |425 |00:44:13 ~-~-> 00:44:18 |that moment when you can start seeing the precision elements that I teach my
427 |426 |00:44:18 ~-~-> 00:44:22 |concepts provide you, but you have to be able to see it on the one minute chart.
428 |427 |00:44:22 ~-~-> 00:44:27 |And under one minute chart, if you don't see that on the PPI number, CPI number
429 |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
430 |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
431 |430 |00:44:37 ~-~-> 00:44:41 |raise not being respected at all, and are trading through them and the levels
432 |431 |00:44:41 ~-~-> 00:44:46 |that would otherwise stop right on the tick. If that's not happening, you have
433 |432 |00:44:46 ~-~-> 00:44:50 |no green light to go back in or enter. There's sharks in the water, and you
434 |433 |00:44:50 ~-~-> 00:44:55 |gotta wait, to simply wait. And it's an easy thing to do once you understand
435 |434 |00:44:55 ~-~-> 00:45:01 |what this gave you. It's a it's a protocol that preserves the. Yeah, well,
436 |435 |00:45:01 ~-~-> 00:45:07 |it's designed to preserve your capital, and it's also to preserve the mental
437 |436 |00:45:07 ~-~-> 00:45:10 |capacity and equity that you have, because you can not only blow your
438 |437 |00:45:10 ~-~-> 00:45:14 |account, but you can also wear yourself down mentally, and even though you may
439 |438 |00:45:14 ~-~-> 00:45:18 |have equity still in your account, you have now hurt yourself and scared
440 |439 |00:45:18 ~-~-> 00:45:23 |yourself so bad that you've made it impossible to take another trade for
441 |440 |00:45:23 ~-~-> 00:45:27 |that day, and then when your trade really does set up and the manual
442 |441 |00:45:27 ~-~-> 00:45:30 |invention has stopped and precision elements are back in there, you're going
443 |442 |00:45:30 ~-~-> 00:45:34 |to be like a deer in in headlights. You're going to be paralyzed. And then
444 |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
445 |444 |00:45:37 ~-~-> 00:45:40 |are going to happen. It's going to go entirely to where you thought was going
446 |445 |00:45:40 ~-~-> 00:45:43 |to go, and you didn't do anything, and you're going to beat yourself up. Going
447 |446 |00:45:43 ~-~-> 00:45:48 |to beat yourself up about it, or you're going to chase price and argue with
448 |447 |00:45:48 ~-~-> 00:45:52 |yourself. I knew I should have just took this, but now look what you made me do.
449 |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
450 |449 |00:45:56 ~-~-> 00:45:59 |higher than I should have, you know, if I would have just did what I wanted to
451 |450 |00:45:59 ~-~-> 00:46:04 |do and not listen to you. And this is the internal dialog that every trader
452 |451 |00:46:04 ~-~-> 00:46:10 |goes through until they figure out when not to do something and that when not to
453 |452 |00:46:10 ~-~-> 00:46:14 |do something is critical factor. It's a skill set that, in my opinion, is worth
454 |453 |00:46:14 ~-~-> 00:46:21 |more than you learning how to enter good it's better than a very small, ultra
455 |454 |00:46:21 ~-~-> 00:46:26 |tight stop loss. Because if you don't know what you're doing, and you keep
456 |455 |00:46:26 ~-~-> 00:46:30 |trading, even with your small, ultra small stop loss, and you could be right
457 |456 |00:46:30 ~-~-> 00:46:34 |on the side of the marketplace, your entries could be great, but your stop
458 |457 |00:46:34 ~-~-> 00:46:43 |loss claimant, stop loss, stop loss placement may not be all that sharp. You
459 |458 |00:46:43 ~-~-> 00:46:46 |got a small stop, Yeah, but you're getting constantly beat up and chopped
460 |459 |00:46:46 ~-~-> 00:46:53 |up because you don't know to stay out of the market. Remember, when manual
461 |460 |00:46:53 ~-~-> 00:47:01 |intervention is underway, opportunities are cleverly disguised, impossibilities,
462 |461 |00:47:02 ~-~-> 00:47:06 |it's going to look like it's right there, ready to be plucked off the vine
463 |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
464 |463 |00:47:13 ~-~-> 00:47:18 |you, and that's exactly what happens when there's manual intervention
465 |464 |00:47:18 ~-~-> 00:47:21 |underway. So I'm telling you that because you want to be looking for that.
466 |465 |00:47:21 ~-~-> 00:47:26 |After we get through the morning session of Wednesday, this morning today, start
467 |466 |00:47:26 ~-~-> 00:47:32 |looking for those elements in price action, especially, start looking for
468 |467 |00:47:32 ~-~-> 00:47:37 |like tomorrow at 830 there's employment data that's being released. And then
469 |468 |00:47:37 ~-~-> 00:47:42 |there's the actual Non Farm Payroll released on Friday at 830 watch the one
470 |469 |00:47:42 ~-~-> 00:47:47 |minute in the 15 second chart on your own. Don't just listen to what I'm
471 |470 |00:47:47 ~-~-> 00:47:51 |jawboning about. Watch and see and you'll see either an absence of the
472 |471 |00:47:51 ~-~-> 00:47:55 |precision, which means that they're in there, still manually intervening.
473 |472 |00:47:55 ~-~-> 00:48:01 |They're they're moving price around where they want, whereas any other time.
474 |473 |00:48:01 ~-~-> 00:48:09 |It's just AI driven. It's just, it's just doing its own thing, scripted. When
475 |474 |00:48:09 ~-~-> 00:48:12 |they're in there moving stuff around, they're not going to move the price
476 |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
477 |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
478 |477 |00:48:23 ~-~-> 00:48:28 |low, and they're not going to lay that low down on top of anything that would
479 |478 |00:48:28 ~-~-> 00:48:35 |be precision, this is going to be a big, abrupt move, and that's the stuff that
480 |479 |00:48:35 ~-~-> 00:48:39 |hurts you, and it's also the same types of things that cause you to have
481 |480 |00:48:39 ~-~-> 00:48:46 |unrealistic fears, because these big, wide tidal waves, or tsunami type price
482 |481 |00:48:46 ~-~-> 00:48:49 |runs that just completely decimate people if they're on the wrong side of
483 |482 |00:48:49 ~-~-> 00:48:54 |the marketplace, they don't just hop, they don't just hop out in front of you
484 |483 |00:48:54 ~-~-> 00:48:59 |all the time. They're occurring around economic weeks that have these big news
485 |484 |00:48:59 ~-~-> 00:49:05 |drivers. So it's like a, it's like a hazard sign. You know, you drive around
486 |485 |00:49:05 ~-~-> 00:49:09 |in the mountains and you see these signs that says, you know, falling rocks. Does
487 |486 |00:49:09 ~-~-> 00:49:12 |that mean the rock's going to fall on your ass right then and there? No, it
488 |487 |00:49:12 ~-~-> 00:49:17 |doesn't mean that. But guess what? It could. So be mindful of it. Just be
489 |488 |00:49:17 ~-~-> 00:49:21 |aware. Start having a little bit more awareness of, you know, do you see
490 |489 |00:49:21 ~-~-> 00:49:26 |little plumes of dust the head that maybe a smaller Rock has started to fall
491 |490 |00:49:26 ~-~-> 00:49:30 |before the bigger ones are starting to come down behind it? So it allows you to
492 |491 |00:49:30 ~-~-> 00:49:35 |prepare for rough terrain by looking at your economic calendar, knowing where
493 |492 |00:49:35 ~-~-> 00:49:38 |these medium impact and high impact news drivers are in the week that you're
494 |493 |00:49:38 ~-~-> 00:49:45 |about to trade, or in the present week while you're trading, you're informed as
495 |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,
496 |495 |00:49:51 ~-~-> 00:49:59 |manually intervening the market conditions ahead of Non Farm Payroll is
497 |496 |00:49:59 ~-~-> 00:50:03 |what you're. Here. This is typical of nonprofit payroll. It's just range
498 |497 |00:50:03 ~-~-> 00:50:09 |bound. It's just listless type trading. It's wonderful study material. It
499 |498 |00:50:09 ~-~-> 00:50:15 |absolutely is wonderful to study it, but it's not enticing enough in the
500 |499 |00:50:15 ~-~-> 00:50:19 |beginning for new students to stick with it, because they want to see dynamic,
501 |500 |00:50:19 ~-~-> 00:50:23 |big price runs. They want to see their little indicators, give them their their
502 |501 |00:50:23 ~-~-> 00:50:26 |entry, and it runs, you know, 100 handles, and they can go show what they
503 |502 |00:50:26 ~-~-> 00:50:32 |made on on social media. You need to strip all that stuff away when it's not
504 |503 |00:50:32 ~-~-> 00:50:37 |from payroll week, because ahead of that number on Friday, you're going to see a
505 |504 |00:50:37 ~-~-> 00:50:44 |lot of this range bound stuff. And now it exasperates this likelihood when you
506 |505 |00:50:44 ~-~-> 00:50:49 |have things that's going on in the Middle East, because the hand the market
507 |506 |00:50:49 ~-~-> 00:50:56 |makers are formulating strategies right now how they can hurt people with what's
508 |507 |00:50:56 ~-~-> 00:50:57 |going on over there,
509 |508 |00:50:58 ~-~-> 00:51:03 |and how can they unseat somebody to make money by that happening, that's what's
510 |509 |00:51:03 ~-~-> 00:51:07 |going on. So when the market's being held like this in his range, it's not
511 |510 |00:51:07 ~-~-> 00:51:10 |because there's a lack of buying and selling pressure. It's not because
512 |511 |00:51:10 ~-~-> 00:51:17 |there's a lack of interest in trading. It's not because support, suddenly, you
513 |512 |00:51:17 ~-~-> 00:51:20 |know, starts working and resistance starts working. It means that they're
514 |513 |00:51:20 ~-~-> 00:51:27 |holding here, and they're engineering market sentiment, means they're
515 |514 |00:51:27 ~-~-> 00:51:31 |controlling and influencing, let's say it that way. They're influencing the
516 |515 |00:51:31 ~-~-> 00:51:36 |expectations of investors and traders, because as long as we start working
517 |516 |00:51:36 ~-~-> 00:51:42 |towards these higher highs up in here, anytime we go above it. What do we feel?
518 |517 |00:51:42 ~-~-> 00:51:47 |Oh, I want to, want to keep going higher. And less informed traders see
519 |518 |00:51:47 ~-~-> 00:51:50 |that as, oh, it broke out. That's resistance broken. It's going to keep
520 |519 |00:51:50 ~-~-> 00:51:54 |going higher. And anyone that's done that thus far, they're sitting in in
521 |520 |00:51:54 ~-~-> 00:51:58 |this, this drop down, and they may have gotten excited when it rallied up like
522 |521 |00:51:58 ~-~-> 00:52:04 |this, but then dipped down the low, relative equal lows. So you want to
523 |522 |00:52:05 ~-~-> 00:52:10 |spend a lot of time on Non Farm Payroll week at Wednesday, Thursday and Friday,
524 |523 |00:52:10 ~-~-> 00:52:15 |and try to put yourself in the seat of a retail trader, like, how do they trade?
525 |524 |00:52:16 ~-~-> 00:52:19 |And it may be even beneficial for you to put like an overbought, oversold in
526 |525 |00:52:19 ~-~-> 00:52:26 |here, like stochastic or RSI or CCI, maybe MACD, something like that. And you
527 |526 |00:52:26 ~-~-> 00:52:32 |can see visually when traders would use that information and how it will get
528 |527 |00:52:32 ~-~-> 00:52:40 |them in trouble. So by basically arm wrestling the things I teach versus the
529 |528 |00:52:40 ~-~-> 00:52:48 |retail perspectives, using indicators and whatnot, time of day, the opening
530 |529 |00:52:48 ~-~-> 00:52:54 |range, gap, the opening range, all those things that I've been teaching you, if
531 |530 |00:52:54 ~-~-> 00:52:57 |my tools are saying it's going to behave a certain way and go a different
532 |531 |00:52:57 ~-~-> 00:53:02 |direction than that of an indicator or some kind of retail school of thought,
533 |532 |00:53:02 ~-~-> 00:53:06 |you have a wonderful experiment to see which one actually is giving you the
534 |533 |00:53:06 ~-~-> 00:53:12 |truth at that at that moment. And it's, it's extremely illuminating, because it
535 |534 |00:53:12 ~-~-> 00:53:17 |feels like, and I've seen so many, I've seen so many people in this mentorship
536 |535 |00:53:17 ~-~-> 00:53:21 |since we started this year. I don't feel like I should know this stuff that's
537 |536 |00:53:21 ~-~-> 00:53:27 |that's a common theme that I'm seeing in either comments on Twitter or it's
538 |537 |00:53:27 ~-~-> 00:53:35 |comments left on my YouTube videos. So, all right, so here we're at nine o'clock
539 |538 |00:53:35 ~-~-> 00:53:46 |now. Okay, so now we have primary. Buy side and primary sell side that we can
540 |539 |00:53:46 ~-~-> 00:53:50 |identify and that is going to be seen with. I'll just borrow this one because
541 |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
542 |541 |00:54:00 ~-~-> 00:54:05 |because we've already cleared this over here, higher than that would be over
543 |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
544 |543 |00:54:09 ~-~-> 00:54:13 |to where we're at right now at nine o'clock, close proximity. Where's the
545 |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
546 |545 |00:54:18 ~-~-> 00:54:23 |the high? It's that one. So you have minor here and now these lows down here,
547 |546 |00:54:24 ~-~-> 00:54:35 |they would be primary sell side. Not complicated at all is it just got a
548 |547 |00:54:35 ~-~-> 00:54:40 |complicated tree. You earn lazy ass, and you're looking for any excuse because
549 |548 |00:54:40 ~-~-> 00:54:48 |you thought it gonna be easy, and this ain't easy. Here is an expression,
550 |549 |00:54:56 ~-~-> 00:55:00 |if it ain't rough, it ain't right. Anything worth it? Going isn't going to
551 |550 |00:55:00 ~-~-> 00:55:05 |be easy, but when you have the skill set, you're going to be in that small
552 |551 |00:55:05 ~-~-> 00:55:10 |little percentage where people, they have to use things like, Oh, you're part
553 |552 |00:55:10 ~-~-> 00:55:16 |of a cult. Well, you're all brainwashed. You're brainwashed. You can't, you
554 |553 |00:55:16 ~-~-> 00:55:21 |can't, you can't talk to these people, these ICT people. Well, yeah, once we
555 |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
556 |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
557 |556 |00:55:30 ~-~-> 00:55:37 |here and say, You're not equipped now. They arrive too late. Not today. Satan.
558 |557 |00:55:37 ~-~-> 00:55:40 |Do All
559 |558 |00:55:47 ~-~-> 00:55:53 |right, so we have a primary buy side, minor sell side, primary sell side.
560 |559 |00:55:54 ~-~-> 00:55:57 |We're trading at top of that, weekly buy sign and balance cell sign efficiency,
561 |560 |00:55:58 ~-~-> 00:56:03 |we've had a sell side imbalance, buy sign efficiency, traded to here multiple
562 |561 |00:56:03 ~-~-> 00:56:03 |times.
563 |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
564 |563 |00:56:15 ~-~-> 00:56:20 |value gap once we start to break lower, and then see if it can deliver to the
565 |564 |00:56:20 ~-~-> 00:56:21 |minor cell side.
566 |565 |00:56:32 ~-~-> 00:56:34 |Okay, so you have fair value gap. There
567 |566 |00:56:40 ~-~-> 00:56:41 |one here.
568 |567 |00:56:52 ~-~-> 00:56:54 |And you have one here too. It's a small one. I
569 |568 |00:57:00 ~-~-> 00:57:07 |should be able to see it like that. Yeah, I
570 |569 |00:57:26 ~-~-> 00:57:31 |so now, when you have two fairbag apps like that, what do you think if you saw
571 |570 |00:57:31 ~-~-> 00:57:35 |this one first and you were ignoring this one? Think what I taught in the
572 |571 |00:57:35 ~-~-> 00:57:42 |model 2022 you have to allow for price to reach up into that second one too, if
573 |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.
574 |573 |00:57:46 ~-~-> 00:57:51 |So if you were using this one as your entry, thinking they would go down to
575 |574 |00:57:51 ~-~-> 00:57:55 |the sell side here, and you didn't allow for price potentially trading up into
576 |575 |00:57:55 ~-~-> 00:58:00 |the upper one, you would got smoked immediately, because your stop loss
577 |576 |00:58:00 ~-~-> 00:58:04 |would have been here, using this fair value gap. Stop Loss would have been
578 |577 |00:58:04 ~-~-> 00:58:08 |right above this high, this candle sticks high, but here we have this fair
579 |578 |00:58:08 ~-~-> 00:58:13 |value gap. So you have to do what make allowance for either waiting. There's
580 |579 |00:58:13 ~-~-> 00:58:19 |two. It's just two schools of thought here. You can do the entry here and then
581 |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
582 |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
583 |582 |00:58:28 ~-~-> 00:58:32 |one, and that would be your entry. And then you can use a little bit larger
584 |583 |00:58:32 ~-~-> 00:58:34 |stop loss that will be more forgiving up here.
585 |584 |00:58:41 ~-~-> 00:58:45 |In the beginning, it's, it's real hard to talk to students and encourage them
586 |585 |00:58:45 ~-~-> 00:58:49 |to use a little bit wider stop loss, because you need that extra forgiveness.
587 |586 |00:58:50 ~-~-> 00:58:54 |Because you're, you're watching someone that can do things real, real precise,
588 |587 |00:58:55 ~-~-> 00:58:58 |and it's like anything else you as a little boy, I used to watch Spider Man
589 |588 |00:58:58 ~-~-> 00:59:02 |swing around and do crazy stuff. And I thought, well, if I go outside and I put
590 |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
591 |590 |00:59:07 ~-~-> 00:59:11 |climb over cars and jump off of buildings and land and not hurt myself
592 |591 |00:59:11 ~-~-> 00:59:15 |until I try to do it and then I hurt myself. So you gotta give yourself a
593 |592 |00:59:15 ~-~-> 00:59:20 |little bit more flexibility and forgiveness in the beginning, so you're
594 |593 |00:59:20 ~-~-> 00:59:23 |not going to be a web slinger in the beginning. You're gonna have to be a
595 |594 |00:59:23 ~-~-> 00:59:32 |little bit more slow and allow yourself a lot more flexibility, and being less
596 |595 |00:59:32 ~-~-> 00:59:35 |accurate more likely to be wrong.
597 |596 |00:59:42 ~-~-> 00:59:42 |Right here.
598 |597 |00:59:49 ~-~-> 00:59:50 |That neutralizes it. I.
599 |598 |01:00:01 ~-~-> 01:00:07 |The other thing I find hard teaching new students is using the lowest leverage.
600 |599 |01:00:07 ~-~-> 01:00:10 |They don't ever want to listen. They don't ever want to listen to that. They
601 |600 |01:00:10 ~-~-> 01:00:15 |want to use the biggest leverage, and because they're being influenced by
602 |601 |01:00:15 ~-~-> 01:00:18 |other people, and I'm sure I have some measure of influence over them too,
603 |602 |01:00:18 ~-~-> 01:00:23 |because they see what I'm doing in my examples. If you can't find consistency
604 |603 |01:00:23 ~-~-> 01:00:27 |and profitability with just one contract, even if it's a micro, you're
605 |604 |01:00:27 ~-~-> 01:00:30 |not going to make more money when you're trading with larger leverage. Okay, so
606 |605 |01:00:30 ~-~-> 01:00:32 |that would cancel this one I'm
607 |606 |01:00:49 ~-~-> 01:00:53 |now, with the market trading below this low here, inside that weekly buy side of
608 |607 |01:00:53 ~-~-> 01:00:57 |balance, sell sign efficiency, this inefficiency. Now, if it trades down to
609 |608 |01:00:57 ~-~-> 01:01:03 |it, if it trades to it here and sends it back higher, any future fair value get
610 |609 |01:01:03 ~-~-> 01:01:07 |that would form after it trades this and sends it higher, that could be a
611 |610 |01:01:07 ~-~-> 01:01:18 |catalyst to send price back up to primary buy side. So in this case, this
612 |611 |01:01:18 ~-~-> 01:01:23 |fair value get that we were watching and doing a case study on this could be,
613 |612 |01:01:23 ~-~-> 01:01:32 |could potentially be, what inversion. So now you can study it this way. You don't
614 |613 |01:01:32 ~-~-> 01:01:40 |want to be doing the demo entries on non fraud payroll week on Wednesdays, you
615 |614 |01:01:40 ~-~-> 01:01:44 |tape read. Because if you're doing actual pushing in the buttons and seeing
616 |615 |01:01:44 ~-~-> 01:01:48 |stop losses getting hit or targets getting hit, you're tricking yourself at
617 |616 |01:01:48 ~-~-> 01:01:53 |the worst time. You're feeding yourself bad data, basically what it is. But
618 |617 |01:01:55 ~-~-> 01:01:58 |there's nothing wrong with going in and just and watching and observing price
619 |618 |01:01:58 ~-~-> 01:02:01 |instead of just blindly staring into it and thinking, Okay, what's it doing? If
620 |619 |01:02:01 ~-~-> 01:02:05 |it starts moving one direction real fast, I'll chase it with a demo entry.
621 |620 |01:02:05 ~-~-> 01:02:12 |That's that's the worst thing to be doing. And most of every student I had
622 |621 |01:02:12 ~-~-> 01:02:15 |for forex, that's the perspective they had when I when they came in. They're
623 |622 |01:02:15 ~-~-> 01:02:19 |like, you know, why aren't you short? Now, when I'd be live streaming, and it
624 |623 |01:02:19 ~-~-> 01:02:29 |had had gone up like 1515, pips, which is nothing is insignificant, right? But
625 |624 |01:02:29 ~-~-> 01:02:31 |they'd be like, in the in the comments, like, why aren't you long here? Why
626 |625 |01:02:31 ~-~-> 01:02:35 |don't you go long here? I'm like, there's nothing to do. We're literally
627 |626 |01:02:35 ~-~-> 01:02:39 |observing. There's things in motion. We have to wait for it to to provide more
628 |627 |01:02:39 ~-~-> 01:02:46 |information. You're sitting still for a real reason, basically not because of
629 |628 |01:02:46 ~-~-> 01:02:55 |ignorance. You want to take high probability, low risk entries. All right
630 |629 |01:02:55 ~-~-> 01:03:01 |now see what we did in here. Came back up, showed no willingness to come off of
631 |630 |01:03:01 ~-~-> 01:03:06 |this to show displacement. Is that a losing trade? No, because the idea was
632 |631 |01:03:06 ~-~-> 01:03:10 |what it has to go down to it and then start sending price higher, and then,
633 |632 |01:03:10 ~-~-> 01:03:14 |after it starts to rally, a fair value gap that would form, then would be used,
634 |633 |01:03:14 ~-~-> 01:03:18 |not, oh, it's going through this inversion fair value gap, they don't
635 |634 |01:03:18 ~-~-> 01:03:24 |hold. It wasn't supposed to hold is supposed to stop, then allow price to
636 |635 |01:03:24 ~-~-> 01:03:31 |run away, then the fair value got what's the form later on. All right, so now
637 |636 |01:03:33 ~-~-> 01:03:44 |this grief, this becomes its original when it was a sell side, I signed an
638 |637 |01:03:44 ~-~-> 01:03:50 |efficiency below price that is a classic bearish fair value gap. If it trades up
639 |638 |01:03:50 ~-~-> 01:03:58 |to it, here it becomes, what a reclaimed bearish fair value gap. And the focus is
640 |639 |01:03:58 ~-~-> 01:04:04 |here, volume imbalance, right there. Watch that one too. So we could jump up,
641 |640 |01:04:04 ~-~-> 01:04:08 |redeliver and do patchwork in here and maybe spike on a wick to the bottom of
642 |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
643 |642 |01:04:15 ~-~-> 01:04:20 |inside the volume imbalance right now. That's this separation right here.
644 |643 |01:04:28 ~-~-> 01:04:32 |Remember, all we're doing is we're studying all of this range bound price
645 |644 |01:04:32 ~-~-> 01:04:39 |action we're studying over the the lens of a 15 second candlestick. I'm
646 |645 |01:04:45 ~-~-> 01:04:46 |so here's the volume of valance and.
647 |646 |01:05:06 ~-~-> 01:05:14 |If you remember being in school, like in chemistry and physics and whatnot, I had
648 |647 |01:05:14 ~-~-> 01:05:20 |engineering classes and stuff. When we were in in class, we always had these
649 |648 |01:05:21 ~-~-> 01:05:24 |experiments, we had laboratories, basically called it, and you had the
650 |649 |01:05:24 ~-~-> 01:05:29 |ability of sitting in and usually had a partner, or you had a small group of
651 |650 |01:05:29 ~-~-> 01:05:35 |other students, and we were doing some kind of observation. We were doing
652 |651 |01:05:35 ~-~-> 01:05:43 |tests. We were measuring the incubation cycle of chicken eggs. You know, we did
653 |652 |01:05:43 ~-~-> 01:05:47 |all kinds of stuff in school, and that that's why science and math were always
654 |653 |01:05:47 ~-~-> 01:05:54 |exciting to me. English, I sucked that. Everything else I sucked at. But those
655 |654 |01:05:54 ~-~-> 01:05:59 |two, those studies, were my that's, that's my forte, and mathematics was my,
656 |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
657 |656 |01:06:07 ~-~-> 01:06:13 |encourage new students to do is treat your study of price action like a
658 |657 |01:06:13 ~-~-> 01:06:20 |laboratory, like a like a like a case Study of you doing, like forensics on it
659 |658 |01:06:21 ~-~-> 01:06:27 |like, what's the fine details in here? Okay, and when you listen to people like
660 |659 |01:06:28 ~-~-> 01:06:37 |Anton Creole from his little stint when he was a reality star for the BBC, his
661 |660 |01:06:37 ~-~-> 01:06:41 |stuff that he puts on YouTube will say, and I'm sure it was directed to me,
662 |661 |01:06:41 ~-~-> 01:06:46 |because that was, I was really making fun of his blue suede shoes one time,
663 |662 |01:06:46 ~-~-> 01:06:52 |and he blocked me. But I he says, we're not doing technical science here. And
664 |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
665 |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
666 |665 |01:07:00 ~-~-> 01:07:03 |insult. But that's like, you know what? That's exactly, that's a badge of honor.
667 |666 |01:07:03 ~-~-> 01:07:07 |We are absolutely doing technical science here. So you're really going in
668 |667 |01:07:07 ~-~-> 01:07:14 |price action and watching and does price continuously give feedback that would be
669 |668 |01:07:14 ~-~-> 01:07:21 |measured as a pro or a con for a delivery of price action? Are you seeing
670 |669 |01:07:21 ~-~-> 01:07:24 |the things that you would expect to see if it was going to be a sustained price
671 |670 |01:07:24 ~-~-> 01:07:31 |run to a high or an old low, and you're constantly looking for these things. The
672 |671 |01:07:31 ~-~-> 01:07:35 |main takeaway we're at the top of that weekly buy side of balance, sell side
673 |672 |01:07:35 ~-~-> 01:07:38 |efficiency, and it can touch again that that volume imbalance. But what happens
674 |673 |01:07:38 ~-~-> 01:07:43 |if it spikes up with a wick and hits this and then drops. Is that something
675 |674 |01:07:43 ~-~-> 01:07:47 |that's bad? No, it's something that's reasonable. Given the type of climate
676 |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
677 |676 |01:07:55 ~-~-> 01:08:01 |and Tuesday, so Wednesday becomes what harder? It's going to be a lot more
678 |677 |01:08:01 ~-~-> 01:08:05 |challenging for you if you don't know what you're doing. It's going to be
679 |678 |01:08:05 ~-~-> 01:08:08 |very, very challenging for you to be able to see what price is going to do
680 |679 |01:08:08 ~-~-> 01:08:16 |next. Think about that in terms of when you read these books that people write,
681 |680 |01:08:16 ~-~-> 01:08:21 |or they have courses, or they do mentorships, or they have live, you
682 |681 |01:08:21 ~-~-> 01:08:27 |know, analysis and signals. If they are not emphasizing and using terms like
683 |682 |01:08:27 ~-~-> 01:08:32 |this is difficult right now. Or they're they're not describing, and I'm not
684 |683 |01:08:32 ~-~-> 01:08:37 |saying that they're not saying something useful when they say, oh, it's the
685 |684 |01:08:37 ~-~-> 01:08:40 |Marcus is going nowhere right now. That's a, that's a that's a realistic
686 |685 |01:08:40 ~-~-> 01:08:44 |observation, and I could, I could say that that's, it's good, but when they
687 |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
688 |687 |01:08:53 ~-~-> 01:08:57 |escape mechanism for them. Instead of saying, I don't know what the market's
689 |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
690 |689 |01:09:04 ~-~-> 01:09:09 |right now. You're going to hear me say those things when the market is having
691 |690 |01:09:10 ~-~-> 01:09:15 |intervention, when there's the hand in there moving things around, that the
692 |691 |01:09:15 ~-~-> 01:09:19 |algorithm is no longer in control of price, they are pushing and manipulating
693 |692 |01:09:19 ~-~-> 01:09:23 |price. Well, then I have no idea what price is going to do then, and why
694 |693 |01:09:23 ~-~-> 01:09:26 |should that be upsetting? You would expect that, right? So see this up close
695 |694 |01:09:26 ~-~-> 01:09:34 |candle here, in that volume imbalance, my eye goes to this every single time,
696 |695 |01:09:35 ~-~-> 01:09:41 |every single time I want to put annotation on it jumps. Come on. I'll
697 |696 |01:09:41 ~-~-> 01:09:42 |fix it when I drag it
698 |697 |01:09:48 ~-~-> 01:09:54 |right. And then that would be this. See, normally, when you're above that buy
699 |698 |01:09:54 ~-~-> 01:09:57 |side and balance outside, efficiency coming back down into it, it's acting
700 |699 |01:09:57 ~-~-> 01:10:02 |as, what a Bullish figure, how you got that. That's its initial classification.
701 |700 |01:10:02 ~-~-> 01:10:07 |But if it trades down below it, and you're bearish, this becomes a inversion
702 |701 |01:10:07 ~-~-> 01:10:12 |fair value gap. And you want to see things treat treated to heaviness. You
703 |702 |01:10:12 ~-~-> 01:10:18 |want to see price remain heavy at the midpoint of it, or to the low it, and
704 |703 |01:10:18 ~-~-> 01:10:20 |not explore the upper part of it,
705 |704 |01:10:25 ~-~-> 01:10:35 |but having an understanding of where you're going to have difficulty, and not
706 |705 |01:10:35 ~-~-> 01:10:40 |having an ego about being able to admit either to yourself in your journal where
707 |706 |01:10:40 ~-~-> 01:10:43 |nobody sees that. There's a volume imbalance right here. It's just
708 |707 |01:10:43 ~-~-> 01:10:51 |repricing back to that. The the implementation of social media for
709 |708 |01:10:51 ~-~-> 01:10:58 |traders is cancer. Like you're you're making everything so much more harder
710 |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
711 |710 |01:11:02 ~-~-> 01:11:04 |clown around, you know? I troll, I do a lot of stuff. Sometimes it's very
712 |711 |01:11:04 ~-~-> 01:11:12 |subtle. You don't realize it, but other times it's obvious. The some of my new
713 |712 |01:11:12 ~-~-> 01:11:17 |or younger male students, they want to emulate me in that regard, and that's
714 |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
715 |714 |01:11:23 ~-~-> 01:11:29 |to ruffle the feathers. You want it because you want to feel like you are
716 |715 |01:11:29 ~-~-> 01:11:34 |the main character. And if you remove all these instances where you don't have
717 |716 |01:11:34 ~-~-> 01:11:39 |to be fearful of admitting that you don't know something right now, and it's
718 |717 |01:11:39 ~-~-> 01:11:44 |important for you to recognize how how it is that you're going to be incorrect.
719 |718 |01:11:44 ~-~-> 01:11:48 |Where are those instances where looking at price action and not knowing what
720 |719 |01:11:48 ~-~-> 01:11:54 |it's likely to do and observing that you are now met with the difficulty the task
721 |720 |01:11:54 ~-~-> 01:11:59 |is next to impossible at that given moment. Why would you want to sit in
722 |721 |01:11:59 ~-~-> 01:12:03 |front of your charts and press the button, but think about it, I guarantee
723 |722 |01:12:03 ~-~-> 01:12:06 |you you can remember times where you knew you shouldn't be doing what you're
724 |723 |01:12:06 ~-~-> 01:12:10 |about to do, and that's exactly when you blew your account. That's exactly when
725 |724 |01:12:10 ~-~-> 01:12:13 |you had your largest losing trade. That's exactly when you lost your funded
726 |725 |01:12:13 ~-~-> 01:12:17 |account, you blew your combine. Something happened where you have had
727 |726 |01:12:17 ~-~-> 01:12:21 |the worst possible outcome that could have happened at that given moment, but
728 |727 |01:12:21 ~-~-> 01:12:25 |you knew going in that there was something going on in price that you
729 |728 |01:12:25 ~-~-> 01:12:29 |didn't quite understand, but you just won the around and find out, and you
730 |729 |01:12:29 ~-~-> 01:12:36 |did. Now contrast that with the way I teach. I have a long way around the
731 |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.
732 |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
733 |732 |01:12:47 ~-~-> 01:12:52 |going to give them an hour answer, because I want them to understand the
734 |733 |01:12:52 ~-~-> 01:13:00 |ramifications of subscribing to the view. I'm going to give them what the
735 |734 |01:13:00 ~-~-> 01:13:04 |pros and cons are going to be, what other people are going to say, what they
736 |735 |01:13:04 ~-~-> 01:13:07 |should see from doing it and then reminding them that you're probably
737 |736 |01:13:07 ~-~-> 01:13:10 |going to get a different outcome too. But you asked me for this, so there it
738 |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
739 |738 |01:13:16 ~-~-> 01:13:18 |question, I have to make sure I've made time for this, because you don't ever
740 |739 |01:13:18 ~-~-> 01:13:23 |answer things short and sweet, and it's because I want them to understand my
741 |740 |01:13:23 ~-~-> 01:13:28 |answer. Not just Dad, what do you think? Well, grass is green, the sky is blue.
742 |741 |01:13:29 ~-~-> 01:13:34 |Okay, now, why the fuck is the grass green, dad? And why does the sky look
743 |742 |01:13:34 ~-~-> 01:13:38 |blue? And I go through the process of explaining all that stuff, so that way
744 |743 |01:13:38 ~-~-> 01:13:45 |they don't just say dad thinks this. Dad believes this. No. Dad knows his stance
745 |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
746 |745 |01:13:50 ~-~-> 01:13:58 |descriptions of price runs and how to formulate this routine of reading it.
747 |746 |01:13:59 ~-~-> 01:14:04 |There's going to be times where, even with my information, my concepts, it's
748 |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
749 |748 |01:14:09 ~-~-> 01:14:13 |likely to occur, to ignore it, to pretend it's not going to ever happen,
750 |749 |01:14:14 ~-~-> 01:14:19 |is a myopic perspective, like you're you're asking to fail. It's been too
751 |750 |01:14:19 ~-~-> 01:14:26 |many times coming back out of that volume of balance, and we're dropped
752 |751 |01:14:26 ~-~-> 01:14:28 |eight minutes away an opening bell.
753 |752 |01:14:39 ~-~-> 01:14:48 |I wished I would have been more interested in spending time finding my
754 |753 |01:14:48 ~-~-> 01:14:54 |faults, where I was initially trying to hide them from myself and I would punish
755 |754 |01:14:54 ~-~-> 01:14:59 |myself in my journals. I would really it would be very jarring. It felt like
756 |755 |01:14:59 ~-~-> 01:15:04 |they. Therapy, you know, cussing myself out in my journal, and as I wrote it
757 |756 |01:15:04 ~-~-> 01:15:07 |out, I feel, you know, sometimes I would laugh to myself that gets right. Yeah,
758 |757 |01:15:07 ~-~-> 01:15:11 |you deserve everything. I just said to yourself right there. But then once I'm
759 |758 |01:15:11 ~-~-> 01:15:14 |done and I'm going and doing something else, taking a drive, working because I
760 |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
761 |760 |01:15:19 ~-~-> 01:15:22 |thinking, myself, man, if someone else said that about me, that would make me
762 |761 |01:15:22 ~-~-> 01:15:28 |feel terrible, and I'm doing it to myself. And as soon as I felt that, I
763 |762 |01:15:28 ~-~-> 01:15:34 |dismissed it real quick. So what was I doing? I was allowing demons to fester,
764 |763 |01:15:34 ~-~-> 01:15:40 |and I was making, let them, let them make home in my mind, in my thought
765 |764 |01:15:40 ~-~-> 01:15:48 |process, and it's extremely toxic when I when I started looking at things that
766 |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
767 |766 |01:15:54 ~-~-> 01:15:58 |perfect in my expectation in the marketplace. I have to see these things
768 |767 |01:15:59 ~-~-> 01:16:04 |every single time, because I saw a pattern of me getting it right, and my
769 |768 |01:16:04 ~-~-> 01:16:07 |my concepts are starting to flesh out, but then I would have these instances
770 |769 |01:16:07 ~-~-> 01:16:12 |where nothing was working, like nothing made any bit of sense, and the market
771 |770 |01:16:12 ~-~-> 01:16:18 |would just behave in a manner that was erratic. When, if we get below here,
772 |771 |01:16:18 ~-~-> 01:16:23 |because I could still say no, thank you. But right below these lows. This chart
773 |772 |01:16:23 ~-~-> 01:16:27 |on left hand side is a five minute chart. So below that is minor cell side
774 |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
775 |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
776 |775 |01:16:42 ~-~-> 01:16:44 |good. If it wants to go higher, it doesn't change it to make it bearish. It
777 |776 |01:16:46 ~-~-> 01:16:49 |just means that would be a logical place for it to dump at the opening bell, and
778 |777 |01:16:50 ~-~-> 01:16:53 |then everybody think, Wow, it's really bearish, and then they start sending it
779 |778 |01:16:53 ~-~-> 01:16:56 |back up higher. That would be a wonderful opportunity. I would
780 |779 |01:16:56 ~-~-> 01:17:01 |manipulate Christ like that. If it was me, that's exactly what I would do. But
781 |780 |01:17:01 ~-~-> 01:17:08 |I'm not in control of price, though, but the observations that I started making
782 |781 |01:17:09 ~-~-> 01:17:14 |and looking at where my journal entries were extremely toxic, like really,
783 |782 |01:17:14 ~-~-> 01:17:20 |really toxic. Bad days, upper right hand corner of my journals, I'd have an X
784 |783 |01:17:21 ~-~-> 01:17:25 |that was, that was my way when I was going through because everything I do is
785 |784 |01:17:25 ~-~-> 01:17:29 |it's handwritten like I don't do electronic journaling. You all have the
786 |785 |01:17:29 ~-~-> 01:17:34 |advantage of it today, but I didn't have that technology back then in the 90s. So
787 |786 |01:17:34 ~-~-> 01:17:41 |I never wanted to transition from the high touch of journaling with a pen and
788 |787 |01:17:41 ~-~-> 01:17:47 |and leather journals to doing it electronically. I don't have the
789 |788 |01:17:47 ~-~-> 01:17:52 |advantage of going and sorting and searching for things by keyword or date.
790 |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
791 |790 |01:17:59 ~-~-> 01:18:03 |certain months out of certain years where I had really, really wonderful
792 |791 |01:18:03 ~-~-> 01:18:07 |instances of things panning out wonderfully for me. But also have very,
793 |792 |01:18:07 ~-~-> 01:18:10 |very, very bad memories where I know, generally, I have some of the dates
794 |793 |01:18:10 ~-~-> 01:18:14 |memorized because it's traumatic. Sometimes I forget my own kids
795 |794 |01:18:14 ~-~-> 01:18:20 |birthdays, but I can remember the days where I lost a lot of money, and when I
796 |795 |01:18:20 ~-~-> 01:18:26 |was experiencing that stuff, obviously I would journal. And then at the top of
797 |796 |01:18:26 ~-~-> 01:18:31 |the page, upper right hand corner, I'd have an X there. So whenever I wanted to
798 |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
799 |798 |01:18:36 ~-~-> 01:18:41 |the journal that so we were looking at it up here, top of the buy side, about
800 |799 |01:18:41 ~-~-> 01:18:46 |cell sign, efficiency, inversion, fair value gap, the volume and balance
801 |800 |01:18:46 ~-~-> 01:18:50 |hammered it one more time and then delivered to the minor cell side. So
802 |801 |01:18:50 ~-~-> 01:18:54 |these are all the things that I was fleshing out early on as a 20 year old,
803 |802 |01:18:54 ~-~-> 01:19:00 |like I was trying to figure out how I could bridge the gap between what I
804 |803 |01:19:00 ~-~-> 01:19:06 |understood about how price was transitioning to 100% electronic and no
805 |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
806 |805 |01:19:15 ~-~-> 01:19:22 |where electronically it's going to deliver to here, but the market never
807 |806 |01:19:22 ~-~-> 01:19:26 |does well, let me, let me not say it like that. Rarely does the market ever
808 |807 |01:19:26 ~-~-> 01:19:31 |do things like move from where we first started watching and observing and
809 |808 |01:19:31 ~-~-> 01:19:33 |looking for it goes lower. It never just simply does. I
810 |809 |01:19:43 ~-~-> 01:19:48 |a drop straight down from you see an entry, potentially at from the time you
811 |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
812 |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
813 |812 |01:19:57 ~-~-> 01:20:00 |candlestick to go right down there. And is, if it doesn't do that. That every
814 |813 |01:20:00 ~-~-> 01:20:05 |new candle it creates that isn't really rushed to get down there feels like an
815 |814 |01:20:05 ~-~-> 01:20:14 |eternity. So you have to learn to submit the time. And what I would do in stages
816 |815 |01:20:14 ~-~-> 01:20:18 |of my development and my codifying all these concepts is I understood that the
817 |816 |01:20:18 ~-~-> 01:20:23 |market was going to go to this liquidity. I understood that part, but I
818 |817 |01:20:23 ~-~-> 01:20:31 |had to have a way where I could see multiple instances of where I see a
819 |818 |01:20:31 ~-~-> 01:20:36 |setup forming and where the market could go to. Okay, that's my range of
820 |819 |01:20:36 ~-~-> 01:20:44 |opportunity. That range of opportunity needs to be defined. What do you mean by
821 |820 |01:20:44 ~-~-> 01:20:49 |that? It needs to be defined. If I know that there's liquidity below these lows
822 |821 |01:20:49 ~-~-> 01:20:55 |over here, then it's not just getting to that price point. Is the objective. It's
823 |822 |01:20:55 ~-~-> 01:20:59 |to get to that price point and then below it, because it needs to engage
824 |823 |01:20:59 ~-~-> 01:21:05 |that liquidity. So if I see this volume imbalance as a initial inception of a
825 |824 |01:21:05 ~-~-> 01:21:13 |price run, and this is a terminus to liquidity, that makes sense, you you all
826 |825 |01:21:13 ~-~-> 01:21:16 |as my students, even if you're brand new, if you were watching just this
827 |826 |01:21:16 ~-~-> 01:21:19 |stream for the first time, what I just explained, you may not know the volume
828 |827 |01:21:19 ~-~-> 01:21:24 |imbalance of what the mechanics are around it. It's not necessary right now,
829 |828 |01:21:24 ~-~-> 01:21:30 |but if you think that prices are going to move from that level down to this
830 |829 |01:21:30 ~-~-> 01:21:36 |level because there's liquidity there, then we have to consider where is the
831 |830 |01:21:36 ~-~-> 01:21:41 |ideal entry points, and at what point does the probability being high,
832 |831 |01:21:41 ~-~-> 01:21:46 |diminish from being high probability entries to lower probability entries.
833 |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
834 |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
835 |834 |01:21:58 ~-~-> 01:22:04 |entry to where I believe the terminus was right below that relative equal low.
836 |835 |01:22:04 ~-~-> 01:22:10 |Here we have one more minute. Now finish this real quick. Here is the equilibrium
837 |836 |01:22:10 ~-~-> 01:22:15 |price point. So at that price point, or above anything that could be used as an
838 |837 |01:22:15 ~-~-> 01:22:21 |entry, is a premium. Notice how everything below it you don't want to
839 |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
840 |839 |01:22:25 ~-~-> 01:22:29 |the volume imbalance. It's in a premium relative to the midpoint of where you
841 |840 |01:22:29 ~-~-> 01:22:32 |believe it's going to go, and where you believe the inception of the move
842 |841 |01:22:32 ~-~-> 01:22:37 |begins. This is your point of interest, that that PD array, that's where the
843 |842 |01:22:37 ~-~-> 01:22:40 |inception of the move, the beginning of the move in the terminus is where you
844 |843 |01:22:40 ~-~-> 01:22:45 |think it's trying to reach to reach to. So by framing that, every time you take
845 |844 |01:22:45 ~-~-> 01:22:49 |a trade, you have to know where it's going to go, your target, that's
846 |845 |01:22:49 ~-~-> 01:22:52 |terminus, and where you're trying to get in at. And then from there, you frame
847 |846 |01:22:52 ~-~-> 01:22:57 |where premium and discount is, discount is below. If we're trying to sell short,
848 |847 |01:22:57 ~-~-> 01:23:03 |you can't sell short and discount. You got to sell short and premium. You right
849 |848 |01:23:03 ~-~-> 01:23:12 |back to inversion parade. All right, opening bell. The fireworks have
850 |849 |01:23:12 ~-~-> 01:23:19 |started. Sorry, you probably gonna hear my wife cough and she's gotten sick
851 |850 |01:23:19 ~-~-> 01:23:25 |because of my youngest son and being sick. So keep me in prayer, because I
852 |851 |01:23:25 ~-~-> 01:23:30 |don't want to get that crud because they're fighting some nasty stuff. Let's
853 |852 |01:23:30 ~-~-> 01:23:38 |do regular trading hours, all right, so we have a discount gap. Take this stuff
854 |853 |01:23:38 ~-~-> 01:23:50 |off here. So All right, so we have a rather every single time, every time,
855 |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
856 |855 |01:24:07 ~-~-> 01:24:13 |first 30 minutes that usually gets traded to and now we can go back to
857 |856 |01:24:13 ~-~-> 01:24:14 |electronic trading hours.
858 |857 |01:24:22 ~-~-> 01:24:28 |And we're looking for the potential to run down into primary cell side, this
859 |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,
860 |859 |01:24:33 ~-~-> 01:24:35 |it doesn't mean it has to go down there.
861 |860 |01:24:42 ~-~-> 01:24:59 |I Let's go to the one minute chart on the left hand side and.
862 |861 |01:25:06 ~-~-> 01:25:13 |Okay, now remember, the opening gap is the initial bias. Caleb, the first 30
863 |862 |01:25:13 ~-~-> 01:25:18 |minutes. If you gap down that first 30 minutes, your your primary focus is
864 |863 |01:25:18 ~-~-> 01:25:26 |looking up to the midpoint of the gap that's over here. That's this price
865 |864 |01:25:26 ~-~-> 01:25:31 |level right there. And boom, there it is.
866 |865 |01:25:37 ~-~-> 01:25:44 |So once again, you're seeing this those odds I tell you about panning out if you
867 |866 |01:25:44 ~-~-> 01:25:55 |look for ways to trade turtle suit, one of the things you can practice is if you
868 |867 |01:25:55 ~-~-> 01:26:06 |have the opening range gap and it is at least 40 handles or more this, that's
869 |868 |01:26:06 ~-~-> 01:26:13 |like, that's like, my minimum, you know, for interest on the first 30 minutes, if
870 |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
871 |870 |01:26:17 ~-~-> 01:26:21 |to, most likely, do most of my leverage that can be afforded to own that that
872 |871 |01:26:21 ~-~-> 01:26:28 |given trading day, 75 handles opening range gap. That's really good. But here,
873 |872 |01:26:28 ~-~-> 01:26:32 |every single day, if you have 40 handles or whatnot, you have a range to trade.
874 |873 |01:26:32 ~-~-> 01:26:39 |That first 30 minute opening range. If we got down, it can trade up to that mid
875 |874 |01:26:39 ~-~-> 01:26:42 |gap price level. If it does something like this, where we've already
876 |875 |01:26:42 ~-~-> 01:26:47 |identified minor sell side, and we have a load like this trading down into it
877 |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
878 |877 |01:26:55 ~-~-> 01:27:01 |anyone that would look at Turtle soups like this and think, How do you know
879 |878 |01:27:01 ~-~-> 01:27:05 |where to buy? There are instances where I can be buying below that low, but
880 |879 |01:27:05 ~-~-> 01:27:09 |other times, like today, I was looking for an opportunity for it to see if it
881 |880 |01:27:09 ~-~-> 01:27:13 |could go a bit lower. But if you want to trade turtle soups using the opening
882 |881 |01:27:13 ~-~-> 01:27:18 |range gap mid consequence level as a draw for that first 30 minutes when it
883 |882 |01:27:18 ~-~-> 01:27:21 |breaks below the low like this, all you have to do is take the candlestick that
884 |883 |01:27:21 ~-~-> 01:27:29 |right before this candle low was formed. What candle pierced it, this one. So if
885 |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
886 |885 |01:27:33 ~-~-> 01:27:37 |are you essentially doing? You're identifying an order block, but you can
887 |886 |01:27:37 ~-~-> 01:27:42 |trade inside that candle and use its opening price to buy on a stop. So then
888 |887 |01:27:42 ~-~-> 01:27:46 |you could be a buyer here. Trade up to the opening range, gap, midpoint,
889 |888 |01:27:46 ~-~-> 01:27:50 |constant encroachment done. You're out small, little, high frequency trading
890 |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
891 |890 |01:27:58 ~-~-> 01:28:02 |trade turtle soups. That's a mechanical entry. Very, very mechanical. Because if
892 |891 |01:28:02 ~-~-> 01:28:06 |the market kept going lower, would you have been filled? No, because the buy
893 |892 |01:28:06 ~-~-> 01:28:10 |stop would have never been triggered. So it has to trade to that price point, and
894 |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
895 |894 |01:28:13 ~-~-> 01:28:17 |you were short, it would knock you out. Well, in this case, because you don't
896 |895 |01:28:17 ~-~-> 01:28:22 |have an existing position open, what's the what's the mechanism behind it?
897 |896 |01:28:22 ~-~-> 01:28:28 |You're buying from a position of flat, your sideline, but now the only order
898 |897 |01:28:28 ~-~-> 01:28:32 |that's executing is when price trades to that opening price, it would trip you in
899 |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
900 |899 |01:28:39 ~-~-> 01:28:42 |gap, which is what you see here, and look at the prices done since then. You
901 |900 |01:28:43 ~-~-> 01:28:54 |think that's random. Mid gap, drop down. Now aim for the sell side over here, the
902 |901 |01:28:54 ~-~-> 01:28:55 |equal lows. I
903 |902 |01:29:07 ~-~-> 01:29:15 |A mess show in the 80s. Mr. Wizards world. One of my students said, you're
904 |903 |01:29:15 ~-~-> 01:29:21 |like our our version of Mr. Wizard. Some of you young guys and gals out there, I
905 |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
906 |905 |01:29:25 ~-~-> 01:29:29 |too. It was neat, because he would do like, these little experiments. He'd
907 |906 |01:29:29 ~-~-> 01:29:32 |take baking soda and put it in this little thing here, and then you do this
908 |907 |01:29:32 ~-~-> 01:29:35 |and do that, and something that your mom would come home and see you messing
909 |908 |01:29:35 ~-~-> 01:29:38 |around with after school, be like, What the hell you doing? Michael, I'm just
910 |909 |01:29:38 ~-~-> 01:29:41 |doing what this guy on TV did. What the hell? Why do you have my shit outta
911 |910 |01:29:41 ~-~-> 01:29:44 |here? Put that stuff back in the cabinet, and I'd be in trouble, right?
912 |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
913 |912 |01:29:50 ~-~-> 01:29:54 |in here and tinker around and see what these little candlesticks do together,
914 |913 |01:29:54 ~-~-> 01:29:59 |how they communicate, how they behave with one another. I.
915 |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.
916 |915 |01:30:09 ~-~-> 01:30:13 |It's just, it was just marking the first initial minor cell side. All
917 |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
918 |917 |01:30:29 ~-~-> 01:30:34 |trade below that low, it should, if it does so, it should have speed to drive
919 |918 |01:30:34 ~-~-> 01:30:38 |down to that area here with the relative equal lows. I
920 |919 |01:30:55 ~-~-> 01:30:59 |I'm watching the wick on this candlestick right here, and it's halfway
921 |920 |01:30:59 ~-~-> 01:30:59 |point I'm
922 |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
923 |922 |01:31:33 ~-~-> 01:31:41 |not real efficient, but it's better than it was the other day. So when we have
924 |923 |01:31:41 ~-~-> 01:31:45 |less impactful news around the days that we're watching price action, you're
925 |924 |01:31:46 ~-~-> 01:31:51 |going to see how prices are so nice. It just creates these really clean price
926 |925 |01:31:51 ~-~-> 01:31:55 |runs. See how many times it keeps coming back, back and back and back and back
927 |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
928 |927 |01:31:58 ~-~-> 01:32:03 |spending a whole lot of time painting candlesticks overlapping the previous
929 |928 |01:32:03 ~-~-> 01:32:07 |candlesticks range, going a little bit lower, but still staying inside this
930 |929 |01:32:07 ~-~-> 01:32:14 |group of price ranges that are pretty much the same things. That is not a
931 |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
932 |931 |01:32:18 ~-~-> 01:32:22 |that? So we have consequent encroachment, mid gap, up here,
933 |932 |01:32:23 ~-~-> 01:32:27 |inversion, fair value gap. Fair value gap here, consequent encroachment there,
934 |933 |01:32:28 ~-~-> 01:32:35 |break down, then the gap, consequence encroachment on this wick, right there
935 |934 |01:32:35 ~-~-> 01:32:43 |stops price went lower to the sell side, and that would be your laboratory for
936 |935 |01:32:43 ~-~-> 01:32:48 |the opening range. It did the 70% strike rate of hitting the mid gap, so opening
937 |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
938 |937 |01:32:53 ~-~-> 01:32:57 |that was your turning point to get down to where we're primary sell side. So
939 |938 |01:32:57 ~-~-> 01:33:01 |here's, here's several things that you can view. I gave you multiple instances
940 |939 |01:33:01 ~-~-> 01:33:06 |of how you could trade this, the very specific mechanics behind it, where the
941 |940 |01:33:06 ~-~-> 01:33:12 |entries would be, where it's going to draw to any one of these instances could
942 |941 |01:33:12 ~-~-> 01:33:18 |be your model. Every single one of them are all equally effective. Not one of
943 |942 |01:33:18 ~-~-> 01:33:22 |them is any better than the other, because it's what you do with these
944 |943 |01:33:22 ~-~-> 01:33:29 |setups in your own hands. Once you get good at it, like you spend time years
945 |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
946 |945 |01:33:33 ~-~-> 01:33:36 |whole lot more setups where I'm sitting here casually talking to you, and I'll
947 |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
948 |947 |01:33:41 ~-~-> 01:33:46 |way where I'm not trying to convince Caleb that there's something better than
949 |948 |01:33:46 ~-~-> 01:33:52 |what he's trying to focus on. I have to be neutral, but still point out, no,
950 |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
951 |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
952 |951 |01:34:01 ~-~-> 01:34:06 |get to experience how it behaves after it does it, and then when it delivers
953 |952 |01:34:06 ~-~-> 01:34:10 |where you think it's going to go, it feels like time travel. It feels like,
954 |953 |01:34:10 ~-~-> 01:34:13 |like many of you students are now saying it, it feels like I'm not allowed to
955 |954 |01:34:13 ~-~-> 01:34:17 |know this, like you feel like you're expecting to knock at the door, right,
956 |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,
957 |956 |01:34:23 ~-~-> 01:34:24 |I understand.
958 |957 |01:34:32 ~-~-> 01:34:38 |Let's use that reference point from up here at the inversion fair value gap.
959 |958 |01:34:38 ~-~-> 01:34:42 |Let's say that you were looking for once it broke lower down here, it comes back
960 |959 |01:34:42 ~-~-> 01:34:47 |up and hits the inversion fair value gap. If that was to occur, you would use
961 |960 |01:34:47 ~-~-> 01:34:53 |that as your point of interest, the inception of the price run. Where is it
962 |961 |01:34:53 ~-~-> 01:35:02 |going to run? We were pointing down here to relative equal lows. So. So if you're
963 |962 |01:35:02 ~-~-> 01:35:10 |aiming for the relative equal lows right there, can you see how at that midpoint,
964 |963 |01:35:10 ~-~-> 01:35:16 |that's equilibrium to the price run? So you're basically you're grading, is what
965 |964 |01:35:16 ~-~-> 01:35:21 |this is called. You're grading the unrealized dealing range. It means it
966 |965 |01:35:21 ~-~-> 01:35:27 |has not delivered down here yet, but you can anticipate where setups are going to
967 |966 |01:35:27 ~-~-> 01:35:31 |form. So for the question that folks are asking, how do you pick the right fair
968 |967 |01:35:31 ~-~-> 01:35:37 |value? How do you know that? Well, the inception of the move is here, dropping
969 |968 |01:35:37 ~-~-> 01:35:42 |down, if it breaks up. Well, for example, if it breaks below this low, we
970 |969 |01:35:42 ~-~-> 01:35:45 |know that there's a stronger likelihood that's going to reach for the relative
971 |970 |01:35:45 ~-~-> 01:35:51 |equal lows over here. But how can we enter? I took the initial minor cell
972 |971 |01:35:51 ~-~-> 01:35:54 |side liquidity line off, and I said, No, we're trading right inside this. This
973 |972 |01:35:54 ~-~-> 01:36:05 |gap here, if you look at that, where is this gap in proximity to the fifth, the
974 |973 |01:36:05 ~-~-> 01:36:10 |50% level of Point of Interest term is where you think the market's going to
975 |974 |01:36:12 ~-~-> 01:36:16 |draw to. It's in the upper half, right? So that means this is a premium array.
976 |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
977 |976 |01:36:20 ~-~-> 01:36:23 |away from that high because you don't have to talk you're talking about and
978 |977 |01:36:23 ~-~-> 01:36:27 |that's exactly what you see these Yahoos on YouTube doing. They're trying to talk
979 |978 |01:36:27 ~-~-> 01:36:30 |with my terms. They have no understanding about what it is they're
980 |979 |01:36:30 ~-~-> 01:36:33 |doing. And then that's why their students are not making money, and
981 |980 |01:36:33 ~-~-> 01:36:37 |they're quitting. And they go and they find another ICT mentor. They have found
982 |981 |01:36:37 ~-~-> 01:36:41 |another ICT mentor, and they're ignoring daddy, who's doing this for free,
983 |982 |01:36:41 ~-~-> 01:36:46 |literally explaining it right from the source, but you don't want to he talks
984 |983 |01:36:46 ~-~-> 01:36:53 |too much, because I want you to know everything about it. You think I would
985 |984 |01:36:53 ~-~-> 01:36:57 |shortchange my own kids, because I'm going to go through the process of
986 |985 |01:36:57 ~-~-> 01:37:00 |teaching it. I want to make sure I never have to have that conversation again.
987 |986 |01:37:00 ~-~-> 01:37:05 |I've exhausted it, so I use every bit of the available bandwidth when I'm
988 |987 |01:37:05 ~-~-> 01:37:08 |teaching something, if I have your attention, I'm going to hold on to it
989 |988 |01:37:08 ~-~-> 01:37:12 |and grab it by the throat, and you're going to learn it the right way, whether
990 |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
991 |990 |01:37:15 ~-~-> 01:37:20 |choice, but knowing where the market's going to go and where the inception of
992 |991 |01:37:20 ~-~-> 01:37:24 |the move is, that's how you frame premium to discount. And then what you
993 |992 |01:37:24 ~-~-> 01:37:29 |can do is, with that information, everything relating to that information
994 |993 |01:37:29 ~-~-> 01:37:34 |that you're getting in terms of premium to discount, you can anticipate, without
995 |994 |01:37:34 ~-~-> 01:37:37 |even having to throw a fib up here, you can visually see that from that
996 |995 |01:37:37 ~-~-> 01:37:41 |inversion fair value gap down to the relative equal lows, halfway point is
997 |996 |01:37:41 ~-~-> 01:37:47 |generally that low. So if there's a fair value gap above that, well you have one
998 |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
999 |998 |01:37:52 ~-~-> 01:37:55 |looked and saw this, what does that mean? You could use this as your entry,
1000 |999 |01:37:55 ~-~-> 01:38:00 |and that's exactly what the bodies are doing here. You see that. But the higher
1001 |1000 |01:38:00 ~-~-> 01:38:08 |one, you have to allow for what it to stab up into it. Model 2022, logic. This
1002 |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
1003 |1002 |01:38:11 ~-~-> 01:38:16 |is a breakaway. It means it's showing its head Venus. This is one it could
1004 |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,
1005 |1004 |01:38:19 ~-~-> 01:38:20 |and that's what you see here?
1006 |1005 |01:38:31 ~-~-> 01:38:35 |See that? So, yes, we wick up to the higher one. We don't even bother going
1007 |1006 |01:38:35 ~-~-> 01:38:42 |into this, because this is a breakaway gap. This stops the move. It's ideal if
1008 |1007 |01:38:42 ~-~-> 01:38:44 |it stays in the lower half. Look real close. Did
1009 |1008 |01:38:58 ~-~-> 01:39:02 |it stay in the lower half? Yes? Is the rules repeating over and over again? Is
1010 |1009 |01:39:02 ~-~-> 01:39:08 |the logic still there? Yes, that's not buying pressure stopping that the buyers
1011 |1010 |01:39:08 ~-~-> 01:39:11 |didn't say, Well, you know, this all collectively, stop having any interest
1012 |1011 |01:39:11 ~-~-> 01:39:14 |in going higher. Because if you look at your level two data, Yahoos that keep
1013 |1012 |01:39:14 ~-~-> 01:39:18 |saying, show me your level two data, show me your show me this. Show me that.
1014 |1013 |01:39:18 ~-~-> 01:39:22 |Why the fuck didn't the orders get up here tagged. Why didn't they get there?
1015 |1014 |01:39:22 ~-~-> 01:39:26 |There's orders resting there, right? Because it doesn't give a about those
1016 |1015 |01:39:26 ~-~-> 01:39:32 |orders. It's saying, No, you're not important. But Michael's logic is
1017 |1016 |01:39:32 ~-~-> 01:39:36 |important, and we're going to follow what he said. It's almost like I know
1018 |1017 |01:39:36 ~-~-> 01:39:45 |what I'm doing. It almost knows like it's dead. So the bodies trade up into
1019 |1018 |01:39:45 ~-~-> 01:39:49 |it, and the bulk of the volume is shown in the bodies. The narrative is
1020 |1019 |01:39:49 ~-~-> 01:39:54 |determined by what the bodies are are telling you, but the damage where it
1021 |1020 |01:39:54 ~-~-> 01:40:00 |takes the unlearned, the the people that are unskilled, the street, money. They
1022 |1021 |01:40:00 ~-~-> 01:40:07 |are the victims inside the wicks. Smart Money is tracked by watching the bodies.
1023 |1022 |01:40:08 ~-~-> 01:40:13 |That's what's occurring. So when individuals in the capacity of a Smart
1024 |1023 |01:40:13 ~-~-> 01:40:19 |Money trader, when they're trading price, they're focusing on the bodies of
1025 |1024 |01:40:19 ~-~-> 01:40:24 |the candles. That's what they're found every all of them are following the same
1026 |1025 |01:40:24 ~-~-> 01:40:29 |logic that I'm showing you here, but they're not concerned about this because
1027 |1026 |01:40:29 ~-~-> 01:40:34 |they know that you're all you're all cannon fodder, all of you, without
1028 |1027 |01:40:34 ~-~-> 01:40:38 |having this information, you're all cannon fodder. That means you're going
1029 |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
1030 |1029 |01:40:48 ~-~-> 01:40:52 |industry right from Jump Street with ignorance, with everything that's taught
1031 |1030 |01:40:52 ~-~-> 01:40:56 |to you, with retail stuff, you're literally being fed poison, and you
1032 |1031 |01:40:56 ~-~-> 01:41:01 |don't even realize it, and they put a little bit of sugar on it by allowing
1033 |1032 |01:41:01 ~-~-> 01:41:05 |influencers to do certain shit. And then you think, wow, you know, I want to
1034 |1033 |01:41:05 ~-~-> 01:41:10 |trade whatever the hell is that's, you know, you know, exciting right now, with
1035 |1034 |01:41:10 ~-~-> 01:41:15 |people putting fast cars and girls barely clothed and whatnot rented
1036 |1035 |01:41:15 ~-~-> 01:41:20 |villas. And you think, wow, I could have that if I traded with this bullshit. And
1037 |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
1038 |1037 |01:41:24 ~-~-> 01:41:29 |to be a buy or sell, and it's not important that doesn't make the market
1039 |1038 |01:41:29 ~-~-> 01:41:35 |go for down. And having this understanding will change everything
1040 |1039 |01:41:35 ~-~-> 01:41:36 |about what you're doing.
1041 |1040 |01:41:42 ~-~-> 01:41:47 |I I just take a peek over here on this one minute chart.
1042 |1041 |01:41:53 ~-~-> 01:41:57 |Okay, we cleared primary cell side. Went to the lower quadrant of the weekly
1043 |1042 |01:41:57 ~-~-> 01:42:00 |bicycle and balance cell, sound efficiency, the remaining portion of the
1044 |1043 |01:42:00 ~-~-> 01:42:06 |gap. That means anything above here, there's buy side resting right there. So
1045 |1044 |01:42:06 ~-~-> 01:42:11 |they're going to make a run for them, all of these gaps over here now, because
1046 |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
1047 |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,
1048 |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
1049 |1048 |01:42:25 ~-~-> 01:42:31 |here, it can use all the reference points over here as footholds and
1050 |1049 |01:42:31 ~-~-> 01:42:37 |handholds to pull itself up to attack that buy side. It doesn't need to do
1051 |1050 |01:42:37 ~-~-> 01:42:42 |that, folks. It can go straight up and just run right forward. And that
1052 |1051 |01:42:42 ~-~-> 01:42:47 |sometimes is what you'll end up seeing in days and weeks of Non Farm Payroll,
1053 |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
1054 |1053 |01:42:53 ~-~-> 01:42:58 |to get on that, that last little bit of a move that's also characteristic of
1055 |1054 |01:42:58 ~-~-> 01:43:01 |manual intervention. It's also characteristic of Non Farm Payroll weeks
1056 |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
1057 |1056 |01:43:05 ~-~-> 01:43:09 |arrays, and all of a sudden you see this big sudden run, boom. It just takes off
1058 |1057 |01:43:09 ~-~-> 01:43:12 |and goes right for the stops. You're going to send me an email, you're going
1059 |1058 |01:43:12 ~-~-> 01:43:15 |to send me comments, you're going to say, but look what it did here. It
1060 |1059 |01:43:15 ~-~-> 01:43:18 |didn't do anything, and I can't sit right, and that's because the
1061 |1060 |01:43:18 ~-~-> 01:43:23 |characteristic of the market being manipulated. It's not affording anyone
1062 |1061 |01:43:23 ~-~-> 01:43:27 |to get on that move, because they're running for the stops. And if you're a
1063 |1062 |01:43:27 ~-~-> 01:43:31 |brand new student, that's a very hard thing to communicate and to understand,
1064 |1063 |01:43:31 ~-~-> 01:43:35 |because it's like, wait a minute, like I'm looking for patterns. I'm looking
1065 |1064 |01:43:35 ~-~-> 01:43:38 |for something to get into a trade. You're talking about how people stops
1066 |1065 |01:43:38 ~-~-> 01:43:43 |are being targeted. This sounds a conspiracy theory, and that's why they
1067 |1066 |01:43:43 ~-~-> 01:43:48 |they let that type of thing go out in the public. They keep people in there
1068 |1067 |01:43:48 ~-~-> 01:43:53 |churning the the water saying, Oh, they're not going after your stop. Oh,
1069 |1068 |01:43:53 ~-~-> 01:43:58 |they're not targeting your stop. Are you nuts? Like, seriously, that's exactly
1070 |1069 |01:43:58 ~-~-> 01:44:02 |what they're doing. Like they're doing that all the time. That's the lifeblood
1071 |1070 |01:44:02 ~-~-> 01:44:08 |of the marketplace. Like without liquidity, nothing's going on, nothing's
1072 |1071 |01:44:08 ~-~-> 01:44:12 |going on, no one's trading, no one's getting filled. Without liquidity, you
1073 |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
1074 |1073 |01:44:16 ~-~-> 01:44:20 |my short on unless somebody's on the other side trying to be a buyer. That's
1075 |1074 |01:44:20 ~-~-> 01:44:25 |liquidity. That's what makes the markets go around, okay, but that liquidity is
1076 |1075 |01:44:25 ~-~-> 01:44:34 |scheduled to be taken in at a specific time of day. It's scripted, and the
1077 |1076 |01:44:34 ~-~-> 01:44:39 |algorithm doesn't need to know how many contracts or how many lots in forex are
1078 |1077 |01:44:39 ~-~-> 01:44:44 |resting above or below relative equal lows or individual highs or lows. So
1079 |1078 |01:44:45 ~-~-> 01:44:50 |anyway, I got about eight minutes, and then I'm going to cut bait with y'all
1080 |1079 |01:44:50 ~-~-> 01:44:50 |I'm.
1081 |1080 |01:45:00 ~-~-> 01:45:05 |It's fun when you sit down and you just lay down all your preconceived ideas
1082 |1081 |01:45:05 ~-~-> 01:45:09 |about me as a person, whatever you think you know about the markets, and say, let
1083 |1082 |01:45:09 ~-~-> 01:45:13 |me just listen this Diane and let me hear what he has to say, and then watch
1084 |1083 |01:45:13 ~-~-> 01:45:16 |what I point out in price and how it should behave and how it should deliver.
1085 |1084 |01:45:17 ~-~-> 01:45:24 |And you think about that, it's like, wow, there's no excitement, there's no
1086 |1085 |01:45:26 ~-~-> 01:45:31 |no concern for being incorrect about it, and we're all just watching price
1087 |1086 |01:45:32 ~-~-> 01:45:37 |deliver, and we're looking for signatures and price action that are
1088 |1087 |01:45:37 ~-~-> 01:45:41 |repeating. And if there's something that you're seeing that's repeating over and
1089 |1088 |01:45:41 ~-~-> 01:45:44 |over and over again. That's the stuff you're supposed to be writing down in
1090 |1089 |01:45:44 ~-~-> 01:45:47 |your journal, the things that you're having the questions pop up in your head
1091 |1090 |01:45:47 ~-~-> 01:45:53 |about. That's the early onset of you having a model fleshing out in your own
1092 |1091 |01:45:53 ~-~-> 01:45:59 |hands. It may not be the fair value yet you may be seeing something else. Don't
1093 |1092 |01:45:59 ~-~-> 01:46:02 |go on to Twitter and say, Hey, I'm paying attention to this. And this is
1094 |1093 |01:46:02 ~-~-> 01:46:05 |what my eye keeps seeing. Because really what you're asking for me to do is CO
1095 |1094 |01:46:05 ~-~-> 01:46:11 |sign, say, Yeah, I see you. I recognize you today, and to give you like the
1096 |1095 |01:46:11 ~-~-> 01:46:15 |attaboy or that girl, and that way, then you can start doing videos. Say, Yeah,
1097 |1096 |01:46:15 ~-~-> 01:46:20 |ICT, co sign this. He, he gave me the the approval. He, He touched my
1098 |1097 |01:46:20 ~-~-> 01:46:24 |shoulders with his with his sword now knighted. Okay, if you are seeing
1099 |1098 |01:46:24 ~-~-> 01:46:31 |something in the charts, just recognize it and start observing it. Record it,
1100 |1099 |01:46:31 ~-~-> 01:46:35 |journal it. Screenshot it when you see something, even if I'm not talking about
1101 |1100 |01:46:35 ~-~-> 01:46:41 |it, screenshot it and real quickly, you know, just send yourself a text message
1102 |1101 |01:46:41 ~-~-> 01:46:47 |or whatnot about what it is that you want to do more research on, but still
1103 |1102 |01:46:47 ~-~-> 01:46:51 |watch the live stream live. If you have the ability to watch it live, there's
1104 |1103 |01:46:51 ~-~-> 01:46:56 |nothing better than that. For folks that can't be here live, you have the next
1105 |1104 |01:46:56 ~-~-> 01:47:01 |best thing, because the recordings are never edited. I can't edit them once the
1106 |1105 |01:47:01 ~-~-> 01:47:05 |live stream is done, YouTube has it, and they're never, ever audited. They're
1107 |1106 |01:47:05 ~-~-> 01:47:10 |never augmented. There's nothing ever any kind of change to it. Now, I might
1108 |1107 |01:47:10 ~-~-> 01:47:15 |change the title and add something after the fact because, you know, I might
1109 |1108 |01:47:15 ~-~-> 01:47:19 |include something in the discussion, but the content and the things I say during
1110 |1109 |01:47:19 ~-~-> 01:47:23 |the live stream. They're never changed. Either I'm right or wrong. It does what
1111 |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
1112 |1111 |01:47:27 ~-~-> 01:47:33 |how it is. If I make a mistake and say something that was mislabeled, which
1113 |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
1114 |1113 |01:47:37 ~-~-> 01:47:42 |very, very low time frames, I'm human, so I'm going to make a mistake like
1115 |1114 |01:47:42 ~-~-> 01:47:47 |that. You don't realize how many times I'm making a mistake saying things in
1116 |1115 |01:47:47 ~-~-> 01:47:51 |the pre recorded videos, where I have to go through and edit these things out,
1117 |1116 |01:47:51 ~-~-> 01:47:55 |sometimes, like in the pre recorded videos, you never hear me cussing
1118 |1117 |01:47:55 ~-~-> 01:48:00 |because I never wanted to have that part in in those pre recorded videos. But you
1119 |1118 |01:48:00 ~-~-> 01:48:04 |can hear I cuss because if I see something, and it makes me think about
1120 |1119 |01:48:04 ~-~-> 01:48:07 |how I want to discuss something, and then, because I'm thinking about how I
1121 |1120 |01:48:07 ~-~-> 01:48:11 |see people literally talking out of their ass. They have no idea what
1122 |1121 |01:48:11 ~-~-> 01:48:15 |they're talking about, or they'll misrepresent my concepts, or me, or my
1123 |1122 |01:48:15 ~-~-> 01:48:22 |students, or say that this stuff doesn't work, like I'm trying to throttle them,
1124 |1123 |01:48:22 ~-~-> 01:48:26 |because I'm literally out here proving that they're they're idiots, like
1125 |1124 |01:48:26 ~-~-> 01:48:30 |they're idiots. Anyone that says that this stuff doesn't work at this point
1126 |1125 |01:48:30 ~-~-> 01:48:35 |now is someone that should not even be listened to. I don't mind being trolled.
1127 |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
1128 |1127 |01:48:38 ~-~-> 01:48:41 |you're going to stay here and you're constantly the same guy all the time
1129 |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
1130 |1129 |01:48:44 ~-~-> 01:48:48 |watching the streams. You're not paying attention to it because I'm calling it,
1131 |1130 |01:48:48 ~-~-> 01:48:53 |I'm outlining it, how it should deliver, where it should go. And you watch me
1132 |1131 |01:48:53 ~-~-> 01:49:01 |doing executions now too, with one contract, $3,800 one contract. So if you
1133 |1132 |01:49:01 ~-~-> 01:49:05 |were trading with a $10,000 account, that's 38% with one contract and one
1134 |1133 |01:49:05 ~-~-> 01:49:12 |fucking day, didn't do the math on that, did you? And that was just me playing
1135 |1134 |01:49:12 ~-~-> 01:49:18 |around, just playing around. What happens when you do that five days a
1136 |1135 |01:49:18 ~-~-> 01:49:25 |week, London session, New York session, trade the lunch, macro, pm session, last
1137 |1136 |01:49:25 ~-~-> 01:49:34 |hour trading, 400% Come on, that's a fucking two day holiday. Get the fuck
1138 |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
1139 |1138 |01:49:43 ~-~-> 01:49:53 |start scheduling low energy input during the times where there is high impact
1140 |1139 |01:49:53 ~-~-> 01:49:57 |news drivers, like the Non Farm Payroll that we're going to have on Friday,
1141 |1140 |01:49:58 ~-~-> 01:50:02 |Thursday and Friday of nine. Front payroll. They are a no touch day. If
1142 |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
1143 |1142 |01:50:07 ~-~-> 01:50:14 |market session before nine o'clock on Wednesday, but as soon as you get to
1144 |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
1145 |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
1146 |1145 |01:50:24 ~-~-> 01:50:33 |gap and expand higher. So mid gap is this red level here, and above that we
1147 |1146 |01:50:33 ~-~-> 01:50:42 |have primary buy side. So I would expect that to be the draw going into lunch.
1148 |1147 |01:50:44 ~-~-> 01:50:49 |All right, so, but I want you to think about how you can go into your economic
1149 |1148 |01:50:49 ~-~-> 01:50:53 |calendar study that and look for high impact news drivers, not the medium
1150 |1149 |01:50:53 ~-~-> 01:50:57 |impact ones. Medium impact news drivers, they can be traded. That's not a big
1151 |1150 |01:50:58 ~-~-> 01:51:03 |deal the high impact news drivers, if they are, again, in closing, FOMC.
1152 |1151 |01:51:04 ~-~-> 01:51:11 |They're usually the afternoon events, two o'clock, 232 stage delivery. Then
1153 |1152 |01:51:11 ~-~-> 01:51:21 |you have CPI, ppi, Non Farm Payroll. They are 830 delivery. So you know what
1154 |1153 |01:51:21 ~-~-> 01:51:24 |time they're going to occur. If you look at economic calendar, you know every
1155 |1154 |01:51:24 ~-~-> 01:51:30 |single month what day they're going to occur. So all you have to determine then
1156 |1155 |01:51:30 ~-~-> 01:51:38 |is when in the week are those days of those reports being released. If it's on
1157 |1156 |01:51:38 ~-~-> 01:51:42 |a Thursday or Friday, then you know that their best trading is going to be on
1158 |1157 |01:51:42 ~-~-> 01:51:48 |Monday and or Tuesday. If the report is on a Monday or a Tuesday, that means you
1159 |1158 |01:51:48 ~-~-> 01:51:52 |do nothing at the beginning of the week, and then you'll have solid days easier
1160 |1159 |01:51:52 ~-~-> 01:51:57 |trading as the rest of the week trades on. But you have to see where that
1161 |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
1162 |1161 |01:52:01 ~-~-> 01:52:05 |Wednesday? Is on a Thursday and as a Friday? And how that lands on the
1163 |1162 |01:52:05 ~-~-> 01:52:10 |calendar, what day of the week it falls on, will help you look at the
1164 |1163 |01:52:10 ~-~-> 01:52:15 |information that I put in my 2017, mentorship lessons, where I teach the
1165 |1164 |01:52:15 ~-~-> 01:52:20 |weekly profiles, how the weekly candlestick will paint. And by using the
1166 |1165 |01:52:20 ~-~-> 01:52:24 |economic calendar, you can kind of like, get a feel for, oh yeah there if I'm
1167 |1166 |01:52:24 ~-~-> 01:52:29 |bullish, generally on a higher time frame, and then I see a CPI PPI number,
1168 |1167 |01:52:29 ~-~-> 01:52:34 |or, like, this week we have Non Farm Payroll, so we've already satisfied the
1169 |1168 |01:52:34 ~-~-> 01:52:38 |move going down into this blue shaded area, which is that weekly buy side of
1170 |1169 |01:52:38 ~-~-> 01:52:43 |balance, Outside efficiency. Just watch the first 15 minutes of Monday's live
1171 |1170 |01:52:43 ~-~-> 01:52:48 |stream. Okay, if you watch that, you'll see exactly what I'm talking about.
1172 |1171 |01:52:48 ~-~-> 01:52:56 |Where that information came from. It delivered it perfectly. So because it's
1173 |1172 |01:52:56 ~-~-> 01:52:59 |a nonprofit period week, it's already done enough for me. I don't need to do
1174 |1173 |01:52:59 ~-~-> 01:53:05 |anything else for you when you're looking at your economic calendars. It's
1175 |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
1176 |1175 |01:53:08 ~-~-> 01:53:12 |tonight, if you go home from work or from university or whatever it is you're
1177 |1176 |01:53:12 ~-~-> 01:53:17 |doing, pull up an economic calendar. Go to Forex factory.com, or econo day
1178 |1177 |01:53:18 ~-~-> 01:53:27 |calendar, and look at, for instance, October, where is the CPI number? Where
1179 |1178 |01:53:27 ~-~-> 01:53:35 |is the PPI number, any FOMC. Then look at November. Do the same thing and look
1180 |1179 |01:53:35 ~-~-> 01:53:42 |at what day those high impact red folder events, ppi, CPI, FOMC and Non Farm
1181 |1180 |01:53:42 ~-~-> 01:53:50 |Payroll. Those are the the destroyers, okay, they are the the Reapers that are
1182 |1181 |01:53:50 ~-~-> 01:53:56 |going to come through your harvest and tear it all up. They're, they're the rot
1183 |1182 |01:53:57 ~-~-> 01:54:01 |in your harvest. So you have to be careful being around them, because if
1184 |1183 |01:54:01 ~-~-> 01:54:05 |you lay your good money around them, they're going to infect and cause it to
1185 |1184 |01:54:05 ~-~-> 01:54:11 |decay too. So cut that stuff out of your trading. Don't allow that that report or
1186 |1185 |01:54:11 ~-~-> 01:54:16 |the manipulation around it to affect what you have built or what you're
1187 |1186 |01:54:16 ~-~-> 01:54:20 |building. So since you're all trying to harvest money, think about it like that.
1188 |1187 |01:54:20 ~-~-> 01:54:25 |If, if you're cultivating this, this opportunity of making money in the
1189 |1188 |01:54:25 ~-~-> 01:54:31 |marketplace, you're basically creating a farm, and you want to be able to harvest
1190 |1189 |01:54:31 ~-~-> 01:54:39 |this continuously and have a healthy farm of income, these reports are like a
1191 |1190 |01:54:39 ~-~-> 01:54:44 |plague if you don't offer any opportunity for them to touch your
1192 |1191 |01:54:44 ~-~-> 01:54:50 |harvest, then you can't be affected by them, but you have to be aware of them,
1193 |1192 |01:54:50 ~-~-> 01:54:57 |because when they're in in the field, that means in the week that you're
1194 |1193 |01:54:57 ~-~-> 01:55:00 |trading, you have to handle yourself, care for. It
1195 |1194 |01:55:01 ~-~-> 01:55:06 |because they have an effect before the day of its release, and they have a
1196 |1195 |01:55:06 ~-~-> 01:55:12 |specific effect after their release. Trading gets easier on the other side of
1197 |1196 |01:55:12 ~-~-> 01:55:17 |them, trading against them up to the point of release of that data is harder
1198 |1197 |01:55:17 ~-~-> 01:55:20 |than it needs to be. So if you understand that simple characteristic,
1199 |1198 |01:55:20 ~-~-> 01:55:23 |that's not complicated, is it? It's pretty simple. It's pretty simple,
1200 |1199 |01:55:23 ~-~-> 01:55:27 |straightforward, but you wouldn't get that, you know, in me talking about a
1201 |1200 |01:55:27 ~-~-> 01:55:31 |five minute video, because you're going to have 1000 different questions, and I
1202 |1201 |01:55:31 ~-~-> 01:55:34 |covered a lot of questions that would have came up otherwise by everything I
1203 |1202 |01:55:34 ~-~-> 01:55:40 |said today. So know your calendar, know your events, know your characteristics,
1204 |1203 |01:55:40 ~-~-> 01:55:43 |how price is going to behave. Know, what day of the week that reports are going
1205 |1204 |01:55:43 ~-~-> 01:55:47 |to come out, Non Farm Payroll Friday. It's a built in thing. It's always a
1206 |1205 |01:55:47 ~-~-> 01:55:51 |first Friday of the month generally. And then there it is, you know, it's going
1207 |1206 |01:55:51 ~-~-> 01:55:56 |to be a Friday event. So if it's going to be Non Farm Payroll trading, that
1208 |1207 |01:55:56 ~-~-> 01:56:01 |protocol is you have to trade the Monday. You absolutely have to trade the
1209 |1208 |01:56:01 ~-~-> 01:56:07 |Monday, because Monday's trading on Non Farm Payroll is easy trading. It's easy,
1210 |1209 |01:56:07 ~-~-> 01:56:12 |easy, easy trading. And Tuesday can be rather decent as well. But soon as we
1211 |1210 |01:56:12 ~-~-> 01:56:19 |get into London of Tuesday, my local time in the United States, you think
1212 |1211 |01:56:19 ~-~-> 01:56:23 |about New York local time, the London session of Wednesday, which would be
1213 |1212 |01:56:23 ~-~-> 01:56:30 |technically Tuesday night, going into Wednesday morning. For me, that London
1214 |1213 |01:56:30 ~-~-> 01:56:35 |session usually is the last bit of good price action. And then when we get to
1215 |1214 |01:56:35 ~-~-> 01:56:41 |the New York session, it tends to become messy. But if you look at London last
1216 |1215 |01:56:41 ~-~-> 01:56:47 |night, that was a shit show, because everything that's going on between Iran
1217 |1216 |01:56:47 ~-~-> 01:56:54 |and Israel, so because they're lobbying each other with terrible weapons of
1218 |1217 |01:56:54 ~-~-> 01:57:02 |destruction, the market makers are there. They were using London to set the
1219 |1218 |01:57:02 ~-~-> 01:57:07 |stage for this morning. And you watch what we did this morning. We mapped it
1220 |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
1221 |1220 |01:57:13 ~-~-> 01:57:16 |fun when it was going to where we said we're going to go, and you probably
1222 |1221 |01:57:16 ~-~-> 01:57:19 |smile, or you probably slapped your knee, said, hot damn, this ICT did it
1223 |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
1224 |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
1225 |1224 |01:57:29 ~-~-> 01:57:32 |doesn't deliver. When you're studying, you're doing a laboratory. That's all it
1226 |1225 |01:57:32 ~-~-> 01:57:36 |is. It's like it's a laboratory experiment, and you're trying to get the
1227 |1226 |01:57:36 ~-~-> 01:57:43 |data collected with experience. The experience is the data you seeing. Price
1228 |1227 |01:57:43 ~-~-> 01:57:48 |do these things repeating over and over and over again, and if you don't record
1229 |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
1230 |1229 |01:57:51 ~-~-> 01:57:59 |down what it is that you are observing. I don't like iPhones. I will never own
1231 |1230 |01:57:59 ~-~-> 01:58:03 |another apple device in ever. I will never have another one. Fucking trash. I
1232 |1231 |01:58:03 ~-~-> 01:58:09 |will never have one. But your phone has a voice recorder. If you have an iPhone,
1233 |1232 |01:58:09 ~-~-> 01:58:15 |Samsung has something equivalent to as well. While you're watching the live
1234 |1233 |01:58:15 ~-~-> 01:58:19 |stream, okay, you can have a digital recorder too. Like I have a digital
1235 |1234 |01:58:19 ~-~-> 01:58:24 |recorder. Like, sometimes when I'm driving around, I can't stop and pull
1236 |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
1237 |1236 |01:58:29 ~-~-> 01:58:36 |now I always keep a digital recorder in either in my vet or in my SUVs or
1238 |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
1239 |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.
1240 |1239 |01:58:44 ~-~-> 01:58:52 |But if I could sneak one in there, I would. But the the idea of having a
1241 |1240 |01:58:52 ~-~-> 01:58:57 |voice recording while you're watching the live stream, like, if you're if you
1242 |1241 |01:58:57 ~-~-> 01:59:05 |see something like, right now we're watching this. It's at 1006. Okay, so
1243 |1242 |01:59:05 ~-~-> 01:59:11 |six minutes after 10, I I want to look into why price is expanding lower after
1244 |1243 |01:59:11 ~-~-> 01:59:16 |it went back to the consequent question, the mid gap. And then there it is,
1245 |1244 |01:59:16 ~-~-> 01:59:21 |because, unless you are logging something, because my videos tend to be
1246 |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
1247 |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
1248 |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
1249 |1248 |01:59:35 ~-~-> 01:59:39 |recording it in a digital format. You're not writing anything down. You're still
1250 |1249 |01:59:39 ~-~-> 01:59:42 |watching price, and you're probably still hearing what I'm saying, but
1251 |1250 |01:59:42 ~-~-> 01:59:46 |you're not as attentive, but at least you're making a notation about what you
1252 |1251 |01:59:46 ~-~-> 01:59:50 |want to specifically go back into. Because if you don't do that, I'm going
1253 |1252 |01:59:50 ~-~-> 01:59:55 |to say something else in the video, or eventually, there's going to be a day
1254 |1253 |01:59:55 ~-~-> 01:59:59 |where I get it entirely wrong. I mean, you have a couple weeks left, right? I
1255 |1254 |01:59:59 ~-~-> 02:00:02 |might get it in. Highly wrong, and then you're going to be met with that as
1256 |1255 |02:00:02 ~-~-> 02:00:09 |something to wrestle with. Wow. And he went like eight weeks and a half of
1257 |1256 |02:00:09 ~-~-> 02:00:12 |consistently being able to say what was going to happen. But today, he was
1258 |1257 |02:00:12 ~-~-> 02:00:17 |really off today, and you won't retain anything that was said or something that
1259 |1258 |02:00:17 ~-~-> 02:00:20 |you would have been thinking about going back and doing your own research on,
1260 |1259 |02:00:21 ~-~-> 02:00:26 |because you didn't write it down, because you didn't record it. And a
1261 |1260 |02:00:28 ~-~-> 02:00:33 |voice recording is the easy way for taking notes. And then you listen to
1262 |1261 |02:00:33 ~-~-> 02:00:38 |that note, visual, I'm sorry, audible note, and you write it down your journal
1263 |1262 |02:00:38 ~-~-> 02:00:41 |as a questioner, or whatever it is that you were trying to do that causes
1264 |1263 |02:00:41 ~-~-> 02:00:46 |specific attention to it. For those that have the ability to sit down here and
1265 |1264 |02:00:46 ~-~-> 02:00:51 |write down, you're just going to write down at 10 minutes. I'm sorry, 10
1266 |1265 |02:00:51 ~-~-> 02:00:58 |minutes at seven minutes after 10 on the 15 second chart, fair value gap,
1267 |1266 |02:00:59 ~-~-> 02:01:04 |question mark, or whatever that interest or concern was, just write it down, but
1268 |1267 |02:01:04 ~-~-> 02:01:09 |just still keep watching the live stream. Some of you don't want to do
1269 |1268 |02:01:09 ~-~-> 02:01:14 |that. That's why you you don't watch it live, because you don't necessarily want
1270 |1269 |02:01:14 ~-~-> 02:01:17 |to be doing anything to copy me. So you're going to get the same experience
1271 |1270 |02:01:17 ~-~-> 02:01:22 |that way. When you watch the stream, you can pause it, rewind it again, pause it,
1272 |1271 |02:01:22 ~-~-> 02:01:26 |write down your stuff. And that's fine, and that avoids having a second watch of
1273 |1272 |02:01:26 ~-~-> 02:01:30 |it. But for those that are going to watch it live, you either going to have
1274 |1273 |02:01:30 ~-~-> 02:01:35 |to watch the stream twice or do voice recordings. You have it on your
1275 |1274 |02:01:35 ~-~-> 02:01:39 |smartphone, just have it in your hand, and then when you see me talk about
1276 |1275 |02:01:39 ~-~-> 02:01:42 |something, or you see something in the chart that I'm not referring to, but
1277 |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,
1278 |1277 |02:01:45 ~-~-> 02:01:51 |you're probably going to forget about it, and that's terrible, because I've
1279 |1278 |02:01:51 ~-~-> 02:01:55 |learned my lesson. So by having a voice recorder, it's a little digital voice
1280 |1279 |02:01:55 ~-~-> 02:01:59 |recorder. It doesn't cost that much to have them. When I'm driving around, I'll
1281 |1280 |02:01:59 ~-~-> 02:02:04 |get an idea, usually about lectures, usually something that I want to teach
1282 |1281 |02:02:05 ~-~-> 02:02:08 |on or I'll I'll have questions that certain students in my private
1283 |1282 |02:02:08 ~-~-> 02:02:13 |mentorship have asked me, and I have deferred answering them or deferred
1284 |1283 |02:02:13 ~-~-> 02:02:19 |putting them into the next lecture like this, and predominantly, it's most of
1285 |1284 |02:02:19 ~-~-> 02:02:23 |The things I'm talking about are actually questions that I know would
1286 |1285 |02:02:23 ~-~-> 02:02:28 |come up in my son's mind while I'm talking about certain things. And if
1287 |1286 |02:02:28 ~-~-> 02:02:32 |it's not that, it's questions that my paid private mentorship students that no
1288 |1287 |02:02:32 ~-~-> 02:02:36 |one can join. I'm not doing a private mentorship for money anymore. Just stop
1289 |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
1290 |1289 |02:02:40 ~-~-> 02:02:44 |majority of why I talk so much, because I'm answering their questions. You're
1291 |1290 |02:02:44 ~-~-> 02:02:49 |not privy to what they're asking. You're not part of that community, but I'm
1292 |1291 |02:02:49 ~-~-> 02:02:55 |obligated to that community, because they paid to be in that position. So
1293 |1292 |02:02:55 ~-~-> 02:03:00 |when they ask questions, I look for opportunities, how I can show them in
1294 |1293 |02:03:00 ~-~-> 02:03:04 |real time price action. It's altogether something different. If I just simply
1295 |1294 |02:03:04 ~-~-> 02:03:08 |said, Well, you're asking about when the fair value gap can become an inversion
1296 |1295 |02:03:08 ~-~-> 02:03:12 |fair value gap, and what time of the day does that become problematic, and when
1297 |1296 |02:03:12 ~-~-> 02:03:16 |is it more likely to occur? Well, when I talk about it over price action live,
1298 |1297 |02:03:17 ~-~-> 02:03:22 |they see me explain it before it actually develops. So not only do I get
1299 |1298 |02:03:22 ~-~-> 02:03:25 |the chance to explain to them and answer their question, but I'm also
1300 |1299 |02:03:25 ~-~-> 02:03:29 |demonstrating it with prowess and ability and skill set to prove that it's
1301 |1300 |02:03:29 ~-~-> 02:03:34 |not something in hindsight. So everything that I do when I'm talking is
1302 |1301 |02:03:34 ~-~-> 02:03:37 |methodical. It's not because I love the sound on voice. Case, in fact, I don't
1303 |1302 |02:03:37 ~-~-> 02:03:41 |like the way I sound, but I do want to make sure that my students and my
1304 |1303 |02:03:41 ~-~-> 02:03:46 |children that are watching these videos, they understand to the degree that I'm
1305 |1304 |02:03:46 ~-~-> 02:03:50 |willing to share, because I don't want them to know just a little piece of it.
1306 |1305 |02:03:50 ~-~-> 02:03:55 |I want you to understand it intimately, like I want you to know every aspect
1307 |1306 |02:03:56 ~-~-> 02:04:01 |about this specific thing and what things have an impact on it, what things
1308 |1307 |02:04:01 ~-~-> 02:04:06 |are not that impactful for what you're watching me discuss. That's mentoring,
1309 |1308 |02:04:06 ~-~-> 02:04:11 |that's someone that knows exactly what they're doing and understands the source
1310 |1309 |02:04:11 ~-~-> 02:04:15 |material. Otherwise, I'm going to talk about it after it happens, like
1311 |1310 |02:04:15 ~-~-> 02:04:19 |everybody else is going to do, and you're not learning that way, you could
1312 |1311 |02:04:19 ~-~-> 02:04:23 |just do the same thing. Think about it. Some of you are paying money to people,
1313 |1312 |02:04:23 ~-~-> 02:04:27 |and they're talking about shit in Market Replay. And you know what an order block
1314 |1313 |02:04:27 ~-~-> 02:04:31 |is by the term. And you can probably go back through the charts and look at
1315 |1314 |02:04:31 ~-~-> 02:04:34 |Market Replay and say, Oh, look, here's a down close candle, and it went down
1316 |1315 |02:04:34 ~-~-> 02:04:37 |into that later on at this certain time when I never would have expected it,
1317 |1316 |02:04:37 ~-~-> 02:04:41 |because I don't know what I'm doing. So therefore I can now talk about this
1318 |1317 |02:04:41 ~-~-> 02:04:44 |actually happening, and you can talk to yourself in the same way and save the
1319 |1318 |02:04:44 ~-~-> 02:04:49 |money you're not learning from those people. They're talking about
1320 |1319 |02:04:49 ~-~-> 02:04:54 |yesterday's headline news, and they're putting a price tag on it. Hey, pay me
1321 |1320 |02:04:54 ~-~-> 02:04:58 |for yesterday's newspaper. Come on, man, if you know you know you.
1322 |1321 |02:05:00 ~-~-> 02:05:04 |That's that's the bullshit. But when you can come out here and say what the
1323 |1322 |02:05:04 ~-~-> 02:05:07 |headlines are going to be tomorrow, and then the headlines are what you said is
1324 |1323 |02:05:07 ~-~-> 02:05:13 |going to be, and then you can prove it down to a 15 second interval, suddenly
1325 |1324 |02:05:13 ~-~-> 02:05:17 |there's something different. There's a stark contrast there. And that's why I
1326 |1325 |02:05:17 ~-~-> 02:05:22 |do what I do. I stay in an area, in a small, little inner circle where nobody
1327 |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,
1328 |1327 |02:05:27 ~-~-> 02:05:36 |tiny circle, I allow my experience to be viewed by commentary, by lectures, and I
1329 |1328 |02:05:36 ~-~-> 02:05:41 |share my experience with you, and over time, being exposed to that experience,
1330 |1329 |02:05:42 ~-~-> 02:05:46 |you will adopt your own experience, and that is the collection of the data that
1331 |1330 |02:05:46 ~-~-> 02:05:51 |you are harvesting when we do these live streams. Whenever you watch my old pre
1332 |1331 |02:05:51 ~-~-> 02:05:55 |recorded videos, it's the same thing you should be listening and if you see
1333 |1332 |02:05:55 ~-~-> 02:05:58 |something in there that's outside the scope of what I'm talking about, take
1334 |1333 |02:05:58 ~-~-> 02:06:02 |note of that, because what's actually occurring is your subconscious is keyed
1335 |1334 |02:06:02 ~-~-> 02:06:09 |up on something that is drawing your attention to it. It's interested your
1336 |1335 |02:06:09 ~-~-> 02:06:14 |your reticular activating system is keyed up on this very thing, and if you
1337 |1336 |02:06:14 ~-~-> 02:06:20 |don't pay attention to it, you might actually slow your progress down if you
1338 |1337 |02:06:20 ~-~-> 02:06:25 |see something that's inviting your curiosity, explore it. Have fun with it.
1339 |1338 |02:06:26 ~-~-> 02:06:32 |It may be another PD array. It might be a propulsion block. It might be a
1340 |1339 |02:06:32 ~-~-> 02:06:38 |institutional order for entry drill. It might be simply the breaker. It could be
1341 |1340 |02:06:38 ~-~-> 02:06:43 |an inversion breaker, where someone would see a higher high, and it breaks
1342 |1341 |02:06:43 ~-~-> 02:06:47 |down, and it looks like a market structure, structure shift lower, and if
1343 |1342 |02:06:47 ~-~-> 02:06:51 |it trades back up to the low of the bearish breaker, you think that that's a
1344 |1343 |02:06:51 ~-~-> 02:06:54 |short. But what happens if it's really higher Time Frame bullish, it's going to
1345 |1344 |02:06:54 ~-~-> 02:06:59 |trade up to that bearish breaker and trade above its candle that makes the
1346 |1345 |02:06:59 ~-~-> 02:07:04 |breaker and then use that as a bull shorter block. That might be your motto.
1347 |1346 |02:07:04 ~-~-> 02:07:11 |That might be your go to thing. But if you don't explore these little early
1348 |1347 |02:07:11 ~-~-> 02:07:15 |stages of curiosity, this is the fun part of your your journey right now,
1349 |1348 |02:07:15 ~-~-> 02:07:20 |folks like, this is the fun part. This is the most exciting part, because once
1350 |1349 |02:07:20 ~-~-> 02:07:24 |you know what you're doing. It's fucking boring, like it is boring as shit,
1351 |1350 |02:07:24 ~-~-> 02:07:26 |looking at these candlesticks and saying, This is what it's going to do.
1352 |1351 |02:07:26 ~-~-> 02:07:30 |And you lose all that magic of that, that aha moment, that moment of
1353 |1352 |02:07:30 ~-~-> 02:07:34 |astonishment, but that first experience in your own hands. It's like losing your
1354 |1353 |02:07:34 ~-~-> 02:07:38 |virginity the first time. It's like, wow, I'll never be able to live this
1355 |1354 |02:07:38 ~-~-> 02:07:44 |again. I'll never be able to have that moment again. And it's amazing. You
1356 |1355 |02:07:44 ~-~-> 02:07:49 |literally have this once in a lifetime experience every single time you learn
1357 |1356 |02:07:49 ~-~-> 02:07:56 |something new about that one individual topic, because once you know it, the
1358 |1357 |02:07:56 ~-~-> 02:08:02 |magic's gone. The novelty wears off quick. It's literally going to the next
1359 |1358 |02:08:02 ~-~-> 02:08:06 |thing, because I have lots of shiny new objects. So if your subconscious is
1360 |1359 |02:08:06 ~-~-> 02:08:10 |keying up on something that's outside of the scope of my conversation in the
1361 |1360 |02:08:10 ~-~-> 02:08:17 |lecture, don't. Don't ignore that. Do not ignore that. I try to foster the
1362 |1361 |02:08:17 ~-~-> 02:08:24 |flexibility in you as the student to let yourself your personality and what
1363 |1362 |02:08:24 ~-~-> 02:08:27 |you're interested in, because I don't know what you're studying, what you
1364 |1363 |02:08:27 ~-~-> 02:08:29 |spent the most time in, and you don't realize you're doing it either. In the
1365 |1364 |02:08:29 ~-~-> 02:08:32 |beginning, you might go in thinking, I'm going to do what Caleb's doing. I'm
1366 |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
1367 |1366 |02:08:35 ~-~-> 02:08:38 |going to trade the silver bullet. I'm going to use Michael's daughter's model
1368 |1367 |02:08:38 ~-~-> 02:08:43 |for 2022 or I'm going to use the optimal trade entry. Fuck all this extra stuff
1369 |1368 |02:08:43 ~-~-> 02:08:48 |I've been sticking with ot I'm OG for ote, Okay, wonderful. You got your
1370 |1369 |02:08:48 ~-~-> 02:08:52 |model. Wonderful, but I'm not going to stop teaching my kids and making content
1371 |1370 |02:08:52 ~-~-> 02:08:58 |for them because you found out your model. That's That's great. I'm glad. I
1372 |1371 |02:08:58 ~-~-> 02:09:03 |want all of you to do that, but if you don't explore your initial curiosity,
1373 |1372 |02:09:03 ~-~-> 02:09:06 |that you keep seeing things pop up in the chart, and I'm not drawing your
1374 |1373 |02:09:06 ~-~-> 02:09:10 |attention to it. There's a lot of things I'm seeing in price action. I'm
1375 |1374 |02:09:10 ~-~-> 02:09:13 |expecting to see certain things behave and certain candles to form this way or
1376 |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
1377 |1376 |02:09:18 ~-~-> 02:09:23 |aware of it. I got 81 ways that I can see all these things, doing stuff, but
1378 |1377 |02:09:23 ~-~-> 02:09:27 |if it's not part of the discussion at that given time, it's not going to
1379 |1378 |02:09:27 ~-~-> 02:09:32 |increase the efficacy of the lecture I'm trying to deliver. It's actually going
1380 |1379 |02:09:32 ~-~-> 02:09:37 |to cause too many moving parts, and it's going to dilute the message of that
1381 |1380 |02:09:37 ~-~-> 02:09:42 |individual perspective or focus for that day or that session, right? Livestream.
1382 |1381 |02:09:43 ~-~-> 02:09:50 |So anyway, I gave you an extra 16 minutes, no no extra chart. So I'm going
1383 |1382 |02:09:50 ~-~-> 02:09:53 |to close this one here today. I'm going to wish you all very pleasant day.
1384 |1383 |02:09:53 ~-~-> 02:09:57 |Hopefully you learned something today. Hopefully you were encouraged by another
1385 |1384 |02:09:57 ~-~-> 02:10:01 |tape reading session. You can see what we were looking for. And that is going
1386 |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
1387 |1386 |02:10:06 ~-~-> 02:10:11 |mistaken, I think we're going to do another eight o'clock start. I'll
1388 |1387 |02:10:11 ~-~-> 02:10:17 |probably, I'll probably be on time this time, but we'll try to be here tomorrow
1389 |1388 |02:10:17 ~-~-> 02:10:20 |at eight o'clock, or just shortly after eight, worst case scenario, because
1390 |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.
1391 |1390 |02:10:25 ~-~-> 02:10:29 |And unless the Lord takes me home before that, I will touch with you then and
1392 |1391 |02:10:29 ~-~-> 02:10:30 |till then, be safe. Do.