Skip to Content
Last modified by Drunk Monkey on 2024-10-21 09:33
Show last authors
1 (% class="hover min" %)
2 |1 |00:02:39 ~-~-> 00:02:44 |ICT: Well, good evening, folks, Hope doing well. So I was gonna record a
3 |2 |00:02:44 ~-~-> 00:02:52 |video and then post it on YouTube channel, but I got to thinking how it
4 |3 |00:02:52 ~-~-> 00:02:56 |just takes so much time to either edit the things that I end up saying that I
5 |4 |00:02:57 ~-~-> 00:03:03 |don't want in the video, or it's the weight for the YouTube servers to
6 |5 |00:03:03 ~-~-> 00:03:08 |compile it and compress it into a format that allows you to click and watch it.
7 |6 |00:03:09 ~-~-> 00:03:14 |So I'm electing to do it on a live stream, because it's easy. It's one and
8 |7 |00:03:14 ~-~-> 00:03:20 |done. So it's rough and raw, first cut, and whatever it is, it's spoken, if it's
9 |8 |00:03:20 ~-~-> 00:03:24 |a mistake. If I said something incorrectly, or whatever, if I cough, my
10 |9 |00:03:24 ~-~-> 00:03:28 |dogs do something in the background, that type of stuff. And that's what I
11 |10 |00:03:28 ~-~-> 00:03:31 |was doing. I was wrangling Bailey, because she likes to walk around. Soon
12 |11 |00:03:31 ~-~-> 00:03:38 |they'll start talking. So I introduced a new PD array today, and I talked about
13 |12 |00:03:38 ~-~-> 00:03:50 |the live stream commentary. The very early portion of the morning session,
14 |13 |00:03:50 ~-~-> 00:03:55 |when we're trying to work out a narrative on what the daily candlestick
15 |14 |00:03:55 ~-~-> 00:04:02 |might do, what the morning session might present. And while I have an underlying
16 |15 |00:04:02 ~-~-> 00:04:10 |bias that's bullish, I mentioned, let me, let me start this off real quick,
17 |16 |00:04:10 ~-~-> 00:04:18 |because otherwise I won't be satisfied. If you've been a student of mine and
18 |17 |00:04:18 ~-~-> 00:04:23 |you've been at least following since last year on Twitter, or they call it x.
19 |18 |00:04:23 ~-~-> 00:04:30 |Now I was doing Twitter spaces, and I was introducing things conceptually in
20 |19 |00:04:30 ~-~-> 00:04:35 |audio format, not like in a chart, but just talking about it. And one of the
21 |20 |00:04:35 ~-~-> 00:04:43 |things I mentioned is how the first mention of a PD array for the daily
22 |21 |00:04:43 ~-~-> 00:04:50 |session, like if you look at the first percent of fair value gap, and if you
23 |22 |00:04:50 ~-~-> 00:04:54 |look at the first presented fair value gap of the week on Monday, I told you
24 |23 |00:04:54 ~-~-> 00:05:00 |last year in 2023 to take that and extend it throughout. The entirety of
25 |24 |00:05:00 ~-~-> 00:05:08 |the week, all the way through till Friday. And when I when I teach things
26 |25 |00:05:08 ~-~-> 00:05:14 |like that, admittedly, I get off on the idea that I'm tucking it inside of a
27 |26 |00:05:14 ~-~-> 00:05:18 |very long winded discussion, and I usually just throw it out there when
28 |27 |00:05:18 ~-~-> 00:05:21 |you're not expecting it, because if you're eating Bon Bons and potato chips
29 |28 |00:05:21 ~-~-> 00:05:24 |and watching the football game about football game or basketball or you're
30 |29 |00:05:24 ~-~-> 00:05:29 |listening to me, you're going to miss it, and you deserve to miss it, because
31 |30 |00:05:29 ~-~-> 00:05:32 |if you're if I don't have your attention, if you're not really trying
32 |31 |00:05:32 ~-~-> 00:05:38 |to to learn it, and also take all the the information I have about the
33 |32 |00:05:38 ~-~-> 00:05:42 |conversation, because it's germane, you may not think it's germane at the time,
34 |33 |00:05:43 ~-~-> 00:05:48 |but it is Germaine that means everything I'm talking about has its relationship
35 |34 |00:05:48 ~-~-> 00:05:58 |to the topic at hand, and each modular introduction that I present one of the
36 |35 |00:05:58 ~-~-> 00:06:06 |hard line critics that are constantly sending me emails saying, This is what I
37 |36 |00:06:06 ~-~-> 00:06:11 |don't like about you. This is what I don't like about you. It's the slow drip
38 |37 |00:06:11 ~-~-> 00:06:16 |of the content. And the number one reason is because everyone takes my
39 |38 |00:06:16 ~-~-> 00:06:20 |stuff and they plagiarize it and they teach it without knowing how to do it,
40 |39 |00:06:21 ~-~-> 00:06:26 |and then, because people are paying them to learn how to do things they didn't
41 |40 |00:06:26 ~-~-> 00:06:31 |create or author or not to use themselves, their students run away
42 |41 |00:06:31 ~-~-> 00:06:35 |thinking that these concepts don't work when they later find out It's mine. So
43 |42 |00:06:38 ~-~-> 00:06:46 |because I'm working on very specific texts for books. Again, like I said,
44 |43 |00:06:46 ~-~-> 00:06:49 |it's not meant for me to make a lot of money on these books. It's for me to
45 |44 |00:06:49 ~-~-> 00:06:55 |just simply place them in book format, in the way that I intended them to be
46 |45 |00:06:55 ~-~-> 00:07:00 |received. So everyone that does their own little spin on what they think they
47 |46 |00:07:00 ~-~-> 00:07:06 |understand about the things I teach. They are not equipped to teach. They're
48 |47 |00:07:06 ~-~-> 00:07:12 |absolutely not and it sounds like I'm being selfish or I'm afraid someone else
49 |48 |00:07:12 ~-~-> 00:07:16 |is going to get the limelight. You don't deserve this Limelight because you don't
50 |49 |00:07:16 ~-~-> 00:07:20 |know anything about what it is I'm teaching. And there's a lot of things
51 |50 |00:07:20 ~-~-> 00:07:26 |that I hold back, because they will, it will be in a book. Now, everything I
52 |51 |00:07:26 ~-~-> 00:07:32 |know will be in a book, obviously, but when, when the market presents itself in
53 |52 |00:07:32 ~-~-> 00:07:40 |a way where I can ring in something new, I don't mind doing that. And I taught in
54 |53 |00:07:41 ~-~-> 00:07:46 |recent months, and I think mostly this year, in 2024 I started teaching my
55 |54 |00:07:46 ~-~-> 00:07:51 |students the idea of using the wicks above a below a candlestick and to treat
56 |55 |00:07:51 ~-~-> 00:07:59 |them like a gap, like an imbalance or inefficiency, and having that midpoint,
57 |56 |00:07:59 ~-~-> 00:08:04 |which we label as consequence, encouragement is useful in a lot of
58 |57 |00:08:04 ~-~-> 00:08:10 |ways, and I use it many times as a targeting I use it as a stock placement
59 |58 |00:08:10 ~-~-> 00:08:16 |or management tool, and as you saw today, and in other instances where I've
60 |59 |00:08:16 ~-~-> 00:08:28 |used it as a trade entry so I the the idea of folks when I when I'm honest,
61 |60 |00:08:28 ~-~-> 00:08:34 |and I tell you something, and I divulge things that you are not entitled to know
62 |61 |00:08:34 ~-~-> 00:08:40 |about me, I get backlash from people saying, There's no way You have 81 ways
63 |62 |00:08:40 ~-~-> 00:08:47 |to get into a trade. And it's not limited to 81 it's actually twice that,
64 |63 |00:08:47 ~-~-> 00:08:53 |because everything has an inversion aspect to it. So if we have a fair value
65 |64 |00:08:53 ~-~-> 00:08:57 |gap that would be deemed a quote unquote bullish fair value gap, if it trades
66 |65 |00:08:57 ~-~-> 00:09:02 |below it and the market has changed its underlying dynamic is no longer bullish,
67 |66 |00:09:03 ~-~-> 00:09:07 |then I'm going to use that fair value gap. If it affords me every trades back
68 |67 |00:09:07 ~-~-> 00:09:13 |to it, I'll go short in that or if I'm already short, I'll use it to manage my
69 |68 |00:09:13 ~-~-> 00:09:18 |stop loss, because I expect it to stay in the lower half of that fair value
70 |69 |00:09:18 ~-~-> 00:09:22 |gap. If it's a failed bullish or it later gives up the ghost and goes below
71 |70 |00:09:22 ~-~-> 00:09:26 |it. It no longer is going to act as a bullish fair Vega. It will become an
72 |71 |00:09:26 ~-~-> 00:09:33 |inversion fair Vega. So there's a lot of conceptual ideas that I have slowly
73 |72 |00:09:33 ~-~-> 00:09:38 |leaked out. And it's, it's simply because I'm guarding it, because if you
74 |73 |00:09:38 ~-~-> 00:09:44 |just go, just do a search on Amazon, okay, and you'll see ICT concepts. ICT
75 |74 |00:09:44 ~-~-> 00:09:49 |Smart Money concepts. There's dozens and dozens and dozens of books written by UN
76 |75 |00:09:49 ~-~-> 00:09:56 |informed, uneducated, ill equipped and frankly, it's obscene to see anyone out
77 |76 |00:09:56 ~-~-> 00:10:00 |there trying to put my logo on their books. You know, you don't. You. You
78 |77 |00:10:00 ~-~-> 00:10:04 |don't have the right to do that. And there's so many of you that have
79 |78 |00:10:04 ~-~-> 00:10:09 |actually taken my mentorship videos from 2016 and 2017 and just simply, just took
80 |79 |00:10:09 ~-~-> 00:10:13 |the pictures, read out the slides, and put them in your book. And you know, I
81 |80 |00:10:13 ~-~-> 00:10:16 |have lawyers working on that, and all those things that you've collected. If
82 |81 |00:10:16 ~-~-> 00:10:20 |you made any royalties off of that, I'm coming after that, because you that's
83 |82 |00:10:20 ~-~-> 00:10:26 |copyright infringement, so you don't have permission to do those things. And
84 |83 |00:10:26 ~-~-> 00:10:33 |when I slowly drip this content out, what this does is it guards the content
85 |84 |00:10:34 ~-~-> 00:10:38 |for me to be able to reveal in its entirety, but I also have a timeline
86 |85 |00:10:38 ~-~-> 00:10:41 |where I'm actually introducing it and I'm using it in real market activity
87 |86 |00:10:42 ~-~-> 00:10:47 |over live price action, calling attention to it over real live data in
88 |87 |00:10:47 ~-~-> 00:10:52 |front of witnesses of 10s of 1000s people watching the live streams when
89 |88 |00:10:52 ~-~-> 00:10:57 |I'm doing them. So with all that preamble out of the way, the idea of
90 |89 |00:10:58 ~-~-> 00:11:06 |using a candlesticks wick in the midpoint of that as a mechanism to
91 |90 |00:11:07 ~-~-> 00:11:15 |facilitate a trade, to use it to manage a trade stop loss, or to target it for a
92 |91 |00:11:15 ~-~-> 00:11:20 |profit or a partial. It may be a terminus on my trade. It may be a
93 |92 |00:11:20 ~-~-> 00:11:24 |partial that I want to see it trade to, and I'm expecting to go beyond that.
94 |93 |00:11:26 ~-~-> 00:11:30 |It's limited only to your understanding about the present market condition, the
95 |94 |00:11:30 ~-~-> 00:11:35 |market structure that's being delivered right at that moment, and what it's
96 |95 |00:11:35 ~-~-> 00:11:40 |likely drawing to. So it's a lot of different parameters that it's going to
97 |96 |00:11:40 ~-~-> 00:11:46 |rely heavily on what you're trying to trade. That would be a point right
98 |97 |00:11:46 ~-~-> 00:11:49 |there. I would edit the video. And I had a lot of those things because it's
99 |98 |00:11:49 ~-~-> 00:11:54 |seasonalities, and this part I'm talking to you right now. I many times talk like
100 |99 |00:11:54 ~-~-> 00:11:59 |this in the recordings, but end up cutting them out. So it's live. It's a
101 |100 |00:11:59 ~-~-> 00:12:03 |rough cut, right? So I want you to think about what I mentioned now my students.
102 |101 |00:12:03 ~-~-> 00:12:08 |I told them my prime mentorship students. I divulge the name of the PD
103 |102 |00:12:08 ~-~-> 00:12:13 |array that I drew your attention to today in live price action on the women
104 |103 |00:12:13 ~-~-> 00:12:14 |in charge for NASDAQ,
105 |104 |00:12:15 ~-~-> 00:12:20 |and I dubbed it The Gallo. Okay? And some of you may not want to. May not
106 |105 |00:12:20 ~-~-> 00:12:23 |know what a Gallo is, but I'll show you what that is, and I'll show you why the
107 |106 |00:12:23 ~-~-> 00:12:32 |conceptual idea was named that. And because it is a PD array of mine, it can
108 |107 |00:12:32 ~-~-> 00:12:36 |be used one time and then later on, when it comes back to that same price point.
109 |108 |00:12:37 ~-~-> 00:12:41 |I can then use it either as an inversion level, or I can use it as a reclaimed
110 |109 |00:12:41 ~-~-> 00:12:46 |level, meaning that it's an original characteristic, okay, and for those that
111 |110 |00:12:46 ~-~-> 00:12:49 |are actually trying to learn, this is where you write down this stuff, okay,
112 |111 |00:12:50 ~-~-> 00:12:53 |let's assume for a moment you're bearish, and you're expecting the market
113 |112 |00:12:53 ~-~-> 00:12:57 |to go lower, and it creates a fair value gap. Your expectation would be the
114 |113 |00:12:57 ~-~-> 00:13:02 |market would likely draw back up into that fair value gap, book price inside
115 |114 |00:13:02 ~-~-> 00:13:07 |of it, and then displace and move lower. That's a reasonable expectation for a
116 |115 |00:13:07 ~-~-> 00:13:13 |bearish fair value gap. If that fair value gap is violated and it trades
117 |116 |00:13:13 ~-~-> 00:13:17 |above it, and the market dynamics have changed, not just simply because it
118 |117 |00:13:17 ~-~-> 00:13:21 |traded above it, that's not enough. Something else has to take place in the
119 |118 |00:13:21 ~-~-> 00:13:25 |underlying market structure, and there has to be something that is indicating
120 |119 |00:13:25 ~-~-> 00:13:30 |that we have absolutely changed direction. And then you can use that
121 |120 |00:13:30 ~-~-> 00:13:34 |bearish fair value gap as an inversion, fair value gap, where it now becomes a
122 |121 |00:13:34 ~-~-> 00:13:39 |bullish PDA right, or a discount PDA rate, because price would be above it at
123 |122 |00:13:39 ~-~-> 00:13:47 |that time. Well, every week's constant encroachment and where it lays in the
124 |123 |00:13:48 ~-~-> 00:13:53 |the land of price action. You know, I refer to getting the lay of the land.
125 |124 |00:13:53 ~-~-> 00:13:57 |Where are my PD arrays? Where is it likely to draw to? Where is it likely
126 |125 |00:13:57 ~-~-> 00:14:01 |not to go to? And this is all part of fleshing out a narrative. Okay, so I'm
127 |126 |00:14:01 ~-~-> 00:14:05 |going to kind of like confess as the composite man here for a little while in
128 |127 |00:14:05 ~-~-> 00:14:10 |this presentation, because I'm going to teach you what I was doing this morning,
129 |128 |00:14:10 ~-~-> 00:14:14 |because I gave several scenarios, and as I mentioned, in the live stream, if you
130 |129 |00:14:14 ~-~-> 00:14:20 |haven't watched this morning's live stream, if I'm not careful, this video
131 |130 |00:14:20 ~-~-> 00:14:25 |could be, potentially be longer than the live streams, and it's not my goal here,
132 |131 |00:14:25 ~-~-> 00:14:30 |but I want to, kind of like talk to you a little bit about how there are certain
133 |132 |00:14:30 ~-~-> 00:14:38 |aspects of learning, how to trade, how to read, price, do your own analysis and
134 |133 |00:14:38 ~-~-> 00:14:42 |come to your own conclusion where you're an independent thinker, because an
135 |134 |00:14:42 ~-~-> 00:14:48 |independent thought is as an acquired skill set. There isn't a book out there
136 |135 |00:14:48 ~-~-> 00:14:51 |that's going to just make it easy for you. I can't write a book that does
137 |136 |00:14:51 ~-~-> 00:14:57 |that. I can't make a course. I can't make a video lecture series. I can't do
138 |137 |00:14:57 ~-~-> 00:15:03 |it in one video where you hear. Me say one thing, or, you know, an hour long
139 |138 |00:15:03 ~-~-> 00:15:09 |presentation, or even a Twitter space for four hours, and do it any justice in
140 |139 |00:15:09 ~-~-> 00:15:14 |terms of what it takes to build out and flesh out a narrative. And a narrative
141 |140 |00:15:14 ~-~-> 00:15:21 |is how the daily bias will be implemented. It's not the direction,
142 |141 |00:15:21 ~-~-> 00:15:27 |it's how the market will book price and enable and facilitate the delivery of
143 |142 |00:15:27 ~-~-> 00:15:32 |price and accomplish the things that you would expect to see if it's bullish or
144 |143 |00:15:32 ~-~-> 00:15:36 |bearish. So it's not the same thing. Bias and narrative are two, totally two
145 |144 |00:15:36 ~-~-> 00:15:43 |different distinct things, and narrative is a very complex topic, and that's what
146 |145 |00:15:43 ~-~-> 00:15:46 |makes number one. That's the first thing. When people hear me talk about
147 |146 |00:15:46 ~-~-> 00:15:50 |this aspect of it, they want to run away from it. They say, Oh, this is going to
148 |147 |00:15:50 ~-~-> 00:15:55 |require me thinking. And the Tiktok mentality crowd, you know, the
149 |148 |00:15:55 ~-~-> 00:15:58 |millennial mindset. They don't want they don't want to learn how to do it. They
150 |149 |00:15:58 ~-~-> 00:16:02 |want to have a easy push a button, populate something on your chart or
151 |150 |00:16:02 ~-~-> 00:16:07 |overlay or indicator, and let all the critical thinking be done by that. And
152 |151 |00:16:07 ~-~-> 00:16:12 |unfortunately, you know, to get to the delivery of precision that I'm
153 |152 |00:16:12 ~-~-> 00:16:16 |introducing to you and proving. How many, how many times have you seen all
154 |153 |00:16:16 ~-~-> 00:16:20 |these things every single day I'm coming out here and telling I'm showing you.
155 |154 |00:16:21 ~-~-> 00:16:24 |Let me rephrase that, every single day that I'm live streaming, I'm pointing
156 |155 |00:16:24 ~-~-> 00:16:28 |out the things in the in the marketplace that are going to be sealing it for that
157 |156 |00:16:28 ~-~-> 00:16:33 |day's daily range and how that session is going to deliver in book price. And
158 |157 |00:16:33 ~-~-> 00:16:41 |it's undeniable. Okay, so in the last few live streams, I've introduced some
159 |158 |00:16:41 ~-~-> 00:16:45 |things that are kind of complex and advanced, and even my private mentorship
160 |159 |00:16:45 ~-~-> 00:16:49 |students have been introduced to it at the same time you have been and one of
161 |160 |00:16:49 ~-~-> 00:16:58 |those are what we refer to today as that wick above two relative equal highs,
162 |161 |00:16:58 ~-~-> 00:17:02 |okay? And I want to kind of like go right into the chart, kind of talk about
163 |162 |00:17:02 ~-~-> 00:17:05 |that now and then I'll flesh out why the market did what it did. Okay, and then
164 |163 |00:17:05 ~-~-> 00:17:14 |we'll close it up and be done. So if you look at the E Mini S, I'm sorry, E Mini
165 |164 |00:17:14 ~-~-> 00:17:18 |NASDAQ, I'm reaching for the Control M, that's what I use when I'm doing
166 |165 |00:17:18 ~-~-> 00:17:23 |Camtasia. I use that to record my my videos. Well, I'm not using that now.
167 |166 |00:17:23 ~-~-> 00:17:27 |I'm using OBS, right? But whenever I make it an edit error where I have to go
168 |167 |00:17:27 ~-~-> 00:17:32 |in and change it, my natural tendency is to go and touch the control and tap the
169 |168 |00:17:32 ~-~-> 00:17:35 |M, and that puts a little flag in the timeline, so that way I know when I look
170 |169 |00:17:35 ~-~-> 00:17:40 |at the the rough recording, that's where I got to go in and edit. And I'm doing
171 |170 |00:17:40 ~-~-> 00:17:46 |that a lot, as I'm talking to you right now, but I have it so and because I'm
172 |171 |00:17:46 ~-~-> 00:17:50 |not using Camtasia, it's causing me to lose my train of thought. So it's it's
173 |172 |00:17:51 ~-~-> 00:17:56 |one of the reasons why I don't like doing live streams, because I'm so used
174 |173 |00:17:56 ~-~-> 00:18:01 |to doing things pre recorded, and I like editing, keeping it clean, and I don't
175 |174 |00:18:01 ~-~-> 00:18:06 |have the ability to stay focused long enough to do that while I'm liking
176 |175 |00:18:06 ~-~-> 00:18:09 |because there's so many ideas, if I can get in the front of line like right now,
177 |176 |00:18:09 ~-~-> 00:18:14 |you're all cussing me, saying, Get to the point. So we're looking at a regular
178 |177 |00:18:14 ~-~-> 00:18:19 |trading hours chart on the one minute time frame. Okay, the chart's naked,
179 |178 |00:18:19 ~-~-> 00:18:22 |except for my little lipstick here, because I have to put that there,
180 |179 |00:18:22 ~-~-> 00:18:25 |because there's there's jerks on the internet that pretend to be me on other
181 |180 |00:18:25 ~-~-> 00:18:30 |social media platforms, and they post my content like they did it. They didn't do
182 |181 |00:18:30 ~-~-> 00:18:33 |that. So unfortunately, I have to populate my charts with that kind of
183 |182 |00:18:33 ~-~-> 00:18:38 |stuff. And I wish I didn't have to, but it is what it is. So we're looking at
184 |183 |00:18:38 ~-~-> 00:18:44 |the regular trading hours chart, one minute time frame. Okay? And what this
185 |184 |00:18:44 ~-~-> 00:18:49 |does? It allows us to see the difference between where the market settled
186 |185 |00:18:50 ~-~-> 00:18:59 |previous day at 4:14pm, Eastern Time. Always, always, your chart has to be set
187 |186 |00:18:59 ~-~-> 00:19:03 |on trading view at New York time. Okay, if you're not doing this, none of this
188 |187 |00:19:03 ~-~-> 00:19:12 |stuff's going to make any sense. So that settlement price at 414 Eastern time. We
189 |188 |00:19:12 ~-~-> 00:19:20 |note that now at 414 on my notepad, what I'm writing down is that price at
190 |189 |00:19:20 ~-~-> 00:19:25 |settlement. And then I write down regular trading hours, closing
191 |190 |00:19:25 ~-~-> 00:19:31 |settlement price. And then I write that price, whatever the whatever the last
192 |191 |00:19:31 ~-~-> 00:19:39 |print was at 414 that's the price I have on my notepad. And then I wait, just
193 |192 |00:19:39 ~-~-> 00:19:44 |like you are waiting until the 9/31 print. That first print at 930 is right
194 |193 |00:19:44 ~-~-> 00:19:49 |up here. So if you look at the opening price right here, look right above where
195 |194 |00:19:49 ~-~-> 00:19:58 |my cursor is. That opening price is 20,573.25 so because it's an opening
196 |195 |00:19:58 ~-~-> 00:20:05 |higher gap. Yeah, that is a premium gap. So in my notepad, as soon as I see the
197 |196 |00:20:05 ~-~-> 00:20:15 |first print, I'm writing down premium gap high in that price. So the this down
198 |197 |00:20:15 ~-~-> 00:20:22 |here, that settlement price is now becoming what the opening range gap low.
199 |198 |00:20:22 ~-~-> 00:20:26 |It still will always be a constant. Yesterday's settlement price at River
200 |199 |00:20:26 ~-~-> 00:20:32 |trading hours close, but it's taking on a new characteristic, because it's now
201 |200 |00:20:32 ~-~-> 00:20:36 |the low of the opening range gap, which is the difference between this
202 |201 |00:20:36 ~-~-> 00:20:43 |candlesticks opening price and this candlesticks closing price. Now you may
203 |202 |00:20:43 ~-~-> 00:20:47 |be cussing at me that I saw a few comments where people are watching my
204 |203 |00:20:47 ~-~-> 00:20:53 |video from this morning and the other ones I did last week, and I'll say
205 |204 |00:20:53 ~-~-> 00:20:56 |you're too zoomed out and I can't see the candlestick well. Whenever I'm
206 |205 |00:20:56 ~-~-> 00:20:59 |moving around, I'm highlighting a source of a candlestick. Look at the bottom of
207 |206 |00:20:59 ~-~-> 00:21:05 |the chart. It's telling you the time and the date. I'm encouraging you to do all
208 |207 |00:21:05 ~-~-> 00:21:08 |these things in your own chart, not to simply use mine, because that's a lazy
209 |208 |00:21:08 ~-~-> 00:21:12 |approach, and you won't be able to do this if you're just relying on my
210 |209 |00:21:12 ~-~-> 00:21:16 |charts. So if I'm doing all the late work for you, you're really not learning
211 |210 |00:21:16 ~-~-> 00:21:20 |how to do this independently. Are you? You're becoming codependent, and that's
212 |211 |00:21:20 ~-~-> 00:21:25 |why I don't do signals. That's why I don't hand hold a lot. It's a little bit
213 |212 |00:21:25 ~-~-> 00:21:30 |rough, and, you know, it requires a whole lot more effort with me as a
214 |213 |00:21:30 ~-~-> 00:21:34 |teacher, and that's okay. If that doesn't make me a good mentor, it just
215 |214 |00:21:34 ~-~-> 00:21:40 |makes me the right mentor. So the difference is this, we see price through
216 |215 |00:21:40 ~-~-> 00:21:51 |this perspective, this is the opening range gap, okay? And what I'm doing is
217 |216 |00:21:51 ~-~-> 00:21:56 |I'm expecting, initially, that first 30 minutes, that there's going to be a
218 |217 |00:21:56 ~-~-> 00:22:02 |bearish bias initially, soon as we get in the gap opening higher. And remember,
219 |218 |00:22:02 ~-~-> 00:22:07 |I like 75 handles or more. So this obviously fits that criteria where,
220 |219 |00:22:07 ~-~-> 00:22:11 |certainly more than 75 handles difference between this previous
221 |220 |00:22:11 ~-~-> 00:22:12 |settlement price
222 |221 |00:22:13 ~-~-> 00:22:19 |and where we opened. I like 75 handles or more because it will absolutely give
223 |222 |00:22:19 ~-~-> 00:22:30 |me, but what's half of 75 a good 30 handle run, a good 35 handle run. You
224 |223 |00:22:30 ~-~-> 00:22:34 |can, you can see how that is a very handsome approach just by getting half
225 |224 |00:22:34 ~-~-> 00:22:42 |of that move. It doesn't afford, you know? What does it actually afford you
226 |225 |00:22:42 ~-~-> 00:22:48 |now. It affords you the luxuries of not having to have precision, which is why I
227 |226 |00:22:48 ~-~-> 00:22:53 |give you that rule of having 75 handles or more, if you only get half of that
228 |227 |00:22:53 ~-~-> 00:22:59 |run back to middle, which is this level right here, essentially 70% of the time,
229 |228 |00:22:59 ~-~-> 00:23:05 |okay, in the first 30 minutes, a gap higher opening is going to see half that
230 |229 |00:23:05 ~-~-> 00:23:12 |gap filled. Now the school of thought is, gaps always get filled. They don't.
231 |230 |00:23:13 ~-~-> 00:23:17 |They don't always get filled, but there's a large degree of probability
232 |231 |00:23:17 ~-~-> 00:23:23 |that half of the gap will be priced to and once that price is delivered, then
233 |232 |00:23:23 ~-~-> 00:23:27 |you have to measure the willingness to see if it's going to continue and go to
234 |233 |00:23:27 ~-~-> 00:23:31 |a full gap closure. Full gap closure would be coming all the way back down to
235 |234 |00:23:31 ~-~-> 00:23:37 |previous settlement price at 414, eastern time yesterday, on Wednesday. If
236 |235 |00:23:37 ~-~-> 00:23:41 |you listen to what I said in the live stream again, go back and watch it and
237 |236 |00:23:41 ~-~-> 00:23:45 |listen, write down the very things I'm saying, because I'm giving you several
238 |237 |00:23:45 ~-~-> 00:23:50 |different narratives that may be implemented before 930 was there because
239 |238 |00:23:50 ~-~-> 00:23:53 |I closed the stream a couple minutes after nine o'clock, so I wasn't with you
240 |239 |00:23:53 ~-~-> 00:24:00 |at 930 but I gave you how I would internalize price Based on what price
241 |240 |00:24:00 ~-~-> 00:24:05 |would do in those individual instances. So as I mentioned in the live stream,
242 |241 |00:24:05 ~-~-> 00:24:09 |for someone that's brand new, or if you're just looking to come here and
243 |242 |00:24:09 ~-~-> 00:24:14 |find some material to go troll, you're welcome to do that, okay, but you look
244 |243 |00:24:14 ~-~-> 00:24:18 |like an idiot, because I'm literally doing this every single day, and it's
245 |244 |00:24:18 ~-~-> 00:24:24 |panning out. What someone may do is, if they're first time Watchers or viewers,
246 |245 |00:24:24 ~-~-> 00:24:28 |they may hear me say, well, it could do this, it could do that. And it sounds
247 |246 |00:24:28 ~-~-> 00:24:31 |like, well, it's he's not really calling anything. He's just throwing a lot of
248 |247 |00:24:31 ~-~-> 00:24:34 |things at the wall and whatever sticks. He's going to come back and say, look
249 |248 |00:24:34 ~-~-> 00:24:39 |how smart I am. That's exactly what the neophyte mindset would think. But go
250 |249 |00:24:39 ~-~-> 00:24:44 |back and listen, there's very, very specific things I'm saying. If price
251 |250 |00:24:44 ~-~-> 00:24:50 |stays below a specific price, I'll explain why I said 600 level. Today, I'm
252 |251 |00:24:50 ~-~-> 00:24:54 |going to go all over all that stuff, but I want to at least give me, afford me
253 |252 |00:24:54 ~-~-> 00:24:58 |the the ability to lay down some tent posts. Okay, because I don't want to
254 |253 |00:24:58 ~-~-> 00:25:03 |breeze through this. Because these are the type of discussions that it really
255 |254 |00:25:03 ~-~-> 00:25:10 |solidifies. You know why you should even watch anything from me? Because if, if
256 |255 |00:25:10 ~-~-> 00:25:15 |you're not here to try to learn, or if you're here to try to debunk me, and
257 |256 |00:25:15 ~-~-> 00:25:17 |that's really what I'm doing all the time, I'm inviting you to try to do
258 |257 |00:25:17 ~-~-> 00:25:21 |that. Because if you go in and you start looking for these things, like when I
259 |258 |00:25:21 ~-~-> 00:25:24 |told you that it's 70% of the time you're going to see half that gap
260 |259 |00:25:24 ~-~-> 00:25:28 |filled, people immediately went out there and started running numbers with a
261 |260 |00:25:28 ~-~-> 00:25:32 |little bit of data, and said, This guy's full of crap. It's it's wrong. It
262 |261 |00:25:32 ~-~-> 00:25:37 |doesn't even do that. I have 40 years of data backing it. And how many times have
263 |262 |00:25:37 ~-~-> 00:25:41 |you seen it happen since I taught it to you? It's a lot, isn't it? So in fact,
264 |263 |00:25:41 ~-~-> 00:25:46 |if you looked at how long and how many times it's actually fulfilled, it would
265 |264 |00:25:46 ~-~-> 00:25:51 |be higher than 70% since I started talking about it. So if you're if you're
266 |265 |00:25:51 ~-~-> 00:25:56 |taking a little bit of data and you're implementing it just on that small
267 |266 |00:25:56 ~-~-> 00:26:00 |little segment of sample data, you're going to have a skewed perspective
268 |267 |00:26:00 ~-~-> 00:26:07 |versus mine, which is over 40 years of data. So remember, I've been doing this
269 |268 |00:26:07 ~-~-> 00:26:11 |for 32 years, so I wanted to go back and look at old data too, and the only thing
270 |269 |00:26:11 ~-~-> 00:26:16 |I can get my hands on was data that could trust prior to that. You know,
271 |270 |00:26:17 ~-~-> 00:26:27 |given 40 years, I uh, listening to what I mentioned this morning, I said that
272 |271 |00:26:28 ~-~-> 00:26:32 |I'm primarily bullish. I'm not trying to pick the top in the marketplace, because
273 |272 |00:26:32 ~-~-> 00:26:36 |they may still take this thing higher, and I don't want to fight that. But I
274 |273 |00:26:36 ~-~-> 00:26:45 |stated that if the market opens up close to 600 but below it, then we're going to
275 |274 |00:26:45 ~-~-> 00:26:52 |run back down below, right from the jump, and go down to mid gap and as much
276 |275 |00:26:52 ~-~-> 00:26:56 |as three quarters gap, and I guess in the base basically, the best case
277 |276 |00:26:56 ~-~-> 00:26:59 |scenario would be a full gap closure. But I don't like to see a full got
278 |277 |00:26:59 ~-~-> 00:27:04 |closure. Why would I want to not see a full gap closure if we're gapping up
279 |278 |00:27:04 ~-~-> 00:27:09 |like this? Why? Why would I want to not see it fully close in that gap? Because
280 |279 |00:27:09 ~-~-> 00:27:15 |my primary higher Time Frame bias is what bullish so if it can fail to close
281 |280 |00:27:15 ~-~-> 00:27:19 |that gap, that it's created here, that would be what indicative of underlying
282 |281 |00:27:19 ~-~-> 00:27:23 |strength. Otherwise, why would it just simply go down there and close the gap
283 |282 |00:27:23 ~-~-> 00:27:27 |in entirely and then it becomes 50, 5050, at that time, whether it's going
284 |283 |00:27:27 ~-~-> 00:27:31 |to continue going lower or if it's going to start going higher from that point,
285 |284 |00:27:31 ~-~-> 00:27:39 |that price point. So by grading that gap, by having the upper quadrant the
286 |285 |00:27:39 ~-~-> 00:27:45 |midpoint, consequent encroachment and or the lower quadrant, it gives you a way
287 |286 |00:27:45 ~-~-> 00:27:52 |of framing trade ideas and also measuring the willingness for price to
288 |287 |00:27:52 ~-~-> 00:27:58 |either fail to drop going lower and then resume going higher, or allows you to
289 |288 |00:27:58 ~-~-> 00:28:02 |trust it is going to most likely reach for another lower objective would be
290 |289 |00:28:02 ~-~-> 00:28:06 |lower than the the halfway point, consequence of the gap, the lower
291 |290 |00:28:06 ~-~-> 00:28:14 |quadrant, right? So what I want to do is I want to take you into the chart with
292 |291 |00:28:14 ~-~-> 00:28:19 |this perspective. I'm going to assume in taking great deal of liberty knowing
293 |292 |00:28:20 ~-~-> 00:28:24 |that I've said these things in live stream in front of everyone live. So
294 |293 |00:28:24 ~-~-> 00:28:27 |you're welcome to go back and listen to what I said. So if you're just watching
295 |294 |00:28:27 ~-~-> 00:28:31 |this and you didn't watch that, this is a is like, this is nothing live, that's
296 |295 |00:28:31 ~-~-> 00:28:37 |going to cause you to take a trade right now. So if you didn't watch the live
297 |296 |00:28:37 ~-~-> 00:28:40 |stream, this is your perfect opportunity to stop this live stream. Don't even
298 |297 |00:28:40 ~-~-> 00:28:45 |watch the rest of this. Stop it and then go watch this morning's live stream and
299 |298 |00:28:45 ~-~-> 00:28:48 |listen, write down the things I'm talking about. Otherwise you're not
300 |299 |00:28:48 ~-~-> 00:28:51 |going to appreciate what I'm going to cover here. It's going to feel like, you
301 |300 |00:28:51 ~-~-> 00:28:56 |know, cherry picking, and it's not cherry picking. But let's take a look at
302 |301 |00:28:56 ~-~-> 00:29:09 |it through the lens of I uh, having all the lipstick on here. Okay, last year, I
303 |302 |00:29:09 ~-~-> 00:29:15 |mentioned in Twitter spaces that if you take the first fair value gap on Monday
304 |303 |00:29:15 ~-~-> 00:29:19 |and you extend it throughout the entirety of the week, you're going to
305 |304 |00:29:19 ~-~-> 00:29:23 |find some information that would escape you if you just trusted everything else
306 |305 |00:29:23 ~-~-> 00:29:28 |that's taught and regurgitated. I don't trade support and resistance. I don't
307 |306 |00:29:28 ~-~-> 00:29:32 |use supply and demand. I don't use Elliott Wave. I don't use white golf. I
308 |307 |00:29:32 ~-~-> 00:29:37 |don't use hearse cycles. I don't do harmonic patterns. I don't do any of
309 |308 |00:29:37 ~-~-> 00:29:43 |that stuff. Okay? And tonight's lesson is going to show you just how far light
310 |309 |00:29:43 ~-~-> 00:29:48 |year light years ahead I am. I'm so far ahead of everyone else, and my students
311 |310 |00:29:48 ~-~-> 00:29:52 |are learning to do the same thing as well, and they're going to be able to do
312 |311 |00:29:52 ~-~-> 00:29:56 |this independently, which is the most important thing. If I come out here and
313 |312 |00:29:56 ~-~-> 00:30:01 |I just do live streams and I demonstrate my prowess, we. My tricks with my wares
314 |313 |00:30:01 ~-~-> 00:30:07 |and my little toys and trinkets. That's not my goal. I could have a whole lot of
315 |314 |00:30:07 ~-~-> 00:30:11 |fun, like I did on baby pips, and just present trades and trades and trades.
316 |315 |00:30:11 ~-~-> 00:30:14 |And really, not really want to teach it, just dangle it out there and see if I
317 |316 |00:30:14 ~-~-> 00:30:20 |can get enough of a crowd following. But I want you to learn how to do it. I
318 |317 |00:30:20 ~-~-> 00:30:23 |really want you to learn how to do it, and I want you to learn how to do it
319 |318 |00:30:23 ~-~-> 00:30:27 |correctly, and that way you don't ever have to come back to my channel. You
320 |319 |00:30:27 ~-~-> 00:30:30 |don't have to supply my channel for ad revenue. That's not That's not the
321 |320 |00:30:30 ~-~-> 00:30:33 |important thing. The important thing is for you to learn how to do it correctly.
322 |321 |00:30:33 ~-~-> 00:30:37 |And it makes sense for someone to want to go through the process of learning
323 |322 |00:30:37 ~-~-> 00:30:40 |how to do it, and in looking for these little, subtle rules that are important.
324 |323 |00:30:40 ~-~-> 00:30:44 |They may not seem important when I'm talking about it. It may seem dry
325 |324 |00:30:44 ~-~-> 00:30:50 |unimportant, and may seem like it's extra filler in the video, but it's not.
326 |325 |00:30:50 ~-~-> 00:30:56 |I'm trying to reinforce and emphasize that there are parts to what it is I'm
327 |326 |00:30:56 ~-~-> 00:31:01 |teaching that's going to require you not just one time watching it, but watching
328 |327 |00:31:01 ~-~-> 00:31:06 |it one time, thinking about what you just watched, and then come back, not
329 |328 |00:31:06 ~-~-> 00:31:13 |the same day, the following day, and then take notes. Don't take notes the
330 |329 |00:31:13 ~-~-> 00:31:16 |first time you watch it. I want you to think about what I'm showing you,
331 |330 |00:31:17 ~-~-> 00:31:22 |because you'll be surprised how many wonderful.