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2 |1 |00:01:40 ~-~-> 00:01:47 |ICT: Well, good morning, folks. If you could give me a audio check on Twitter
3 |2 |00:01:47 ~-~-> 00:01:50 |for those that are following me, if you guys can hear me, you
4 |3 |00:02:20 ~-~-> 00:02:44 |I take a Walk, to grab my phone to see if you guys could reply to me on
5 |4 |00:02:44 ~-~-> 00:02:47 |Twitter. But I see you all can hear me fine. Thank you so much. But by the way,
6 |5 |00:02:47 ~-~-> 00:02:52 |hope you had a good weekend, good morning. I actually had eight hours of
7 |6 |00:02:52 ~-~-> 00:02:59 |sleep last night. It's not a normal thing for ICT. I usually do about four
8 |7 |00:02:59 ~-~-> 00:03:09 |hours or so in two sessions per day, in some naps, but I have some things to
9 |8 |00:03:09 ~-~-> 00:03:13 |take care of today that prevent me from streaming during the normal opening bell
10 |9 |00:03:13 ~-~-> 00:03:19 |till 10 3011, o'clock or so. So I'll be doing a pre market tape reading session
11 |10 |00:03:19 ~-~-> 00:03:29 |with you, and I'll teach you a couple things. Just want to get the most recent
12 |11 |00:03:29 ~-~-> 00:03:35 |view here since 830 has now transpired. If you look on the right hand side the
13 |12 |00:03:35 ~-~-> 00:03:41 |white background chart, or it should be white background the the left hand side
14 |13 |00:03:41 ~-~-> 00:03:50 |is a five minute chart over here, and this is a 32nd chart. So some of you may
15 |14 |00:03:50 ~-~-> 00:03:53 |not have the ability to look at a 32nd chart. Some of you may not have an
16 |15 |00:03:53 ~-~-> 00:03:58 |interest in looking at a 32nd chart at all. But for those that are trying to
17 |16 |00:03:58 ~-~-> 00:04:04 |learn how to reprice and get familiar with the price delivery continuum that
18 |17 |00:04:04 ~-~-> 00:04:10 |is afforded to us as a technical trader, viewing price with the expectation that
19 |18 |00:04:10 ~-~-> 00:04:14 |it's going to continuously deliver from one PD array to the next, from one time
20 |19 |00:04:14 ~-~-> 00:04:20 |frame to the next, not necessarily a top down in and out itself. It's not just a
21 |20 |00:04:20 ~-~-> 00:04:24 |generic term for top down. It's very specific things that we're looking for
22 |21 |00:04:24 ~-~-> 00:04:30 |that would constitute a setup that would yield the probabilities of moving from a
23 |22 |00:04:30 ~-~-> 00:04:34 |discount to a premium array or a premium array to a discount array. In other
24 |23 |00:04:35 ~-~-> 00:04:39 |words, something that gets short on and then an obvious level to take profits
25 |24 |00:04:39 ~-~-> 00:04:44 |lower, or an obvious level to get long on to an obvious level to take profit
26 |25 |00:04:44 ~-~-> 00:04:54 |and sell. So I have stripped this thing down here to opening range gaps and
27 |26 |00:04:56 ~-~-> 00:05:01 |Asian session liquidity pools now right away. You should already notice that
28 |27 |00:05:03 ~-~-> 00:05:09 |Friday selling price is up here. Okay, so that's going to be higher than where
29 |28 |00:05:09 ~-~-> 00:05:13 |we are at market price. If you notice in the lower right hand corner, it's eth is
30 |29 |00:05:13 ~-~-> 00:05:19 |electronic trading hours. You can see that by toggling here. So over here is
31 |30 |00:05:19 ~-~-> 00:05:24 |electronic trading hours and here as well electronic trading hours because we
32 |31 |00:05:24 ~-~-> 00:05:28 |have settled here. And I'll go into regular trading hours, and I'll explain
33 |32 |00:05:28 ~-~-> 00:05:38 |why I have the chart annotated like that. Here's a settlement price here at
34 |33 |00:05:39 ~-~-> 00:05:43 |414, now I'm looking at it on the perspective of five minute chart. So
35 |34 |00:05:43 ~-~-> 00:05:48 |it's going to look a little wonky, because I'm showing you 410 candle. 410
36 |35 |00:05:48 ~-~-> 00:05:52 |is not the settlement time, but it would be on a five minute chart. So to
37 |36 |00:05:53 ~-~-> 00:05:56 |eliminate all the confusion, that's why I tell you to drop down to a one minute
38 |37 |00:05:56 ~-~-> 00:06:00 |chart and get the opening price in this in the closing price when you're doing
39 |38 |00:06:00 ~-~-> 00:06:06 |your gaps, whether it be new week opening gap or New Day opening gap. So
40 |39 |00:06:06 ~-~-> 00:06:12 |because it's Friday's settlement price on river trading hours, and since I can
41 |40 |00:06:12 ~-~-> 00:06:17 |do this here, I'll just show it to one minute chart, that way you guys can see
42 |41 |00:06:17 ~-~-> 00:06:24 |it. This is how you pick your opening range gap, previous day settlement. You
43 |42 |00:06:25 ~-~-> 00:06:30 |go to record trading hours, one minute chart. Last candlestick here is at 414
44 |43 |00:06:30 ~-~-> 00:06:37 |because there is no trading at 415 it settles at 414 so there's no data for
45 |44 |00:06:37 ~-~-> 00:06:43 |415 because the market's closed for regular trading hours, but it trades
46 |45 |00:06:43 ~-~-> 00:06:47 |until five o'clock. Then it has the one hour, uh, break if it's another trading
47 |46 |00:06:47 ~-~-> 00:06:51 |day, but on Friday, it's the settlement. And then there's like, uh, electronic
48 |47 |00:06:51 ~-~-> 00:06:56 |trading hours that will continue until 5pm Eastern Time, near local time. Then
49 |48 |00:06:56 ~-~-> 00:07:01 |it stops for the weekend. Well, we're annotating that here on Fridays 4:14pm,
50 |49 |00:07:02 ~-~-> 00:07:08 |Eastern, Standard Time. That is our previous settlement. In this case, it's
51 |50 |00:07:08 ~-~-> 00:07:12 |previous week settlement price on river trading hours. But because I already see
52 |51 |00:07:12 ~-~-> 00:07:18 |that we're such a discount relative to that, and I'll scrub down to see it up
53 |52 |00:07:18 ~-~-> 00:07:23 |here. See there's Monday's opening range gap high. The reason why I'm annotating
54 |53 |00:07:23 ~-~-> 00:07:27 |that is the likelihood is that we're probably not going to trade all the way
55 |54 |00:07:27 ~-~-> 00:07:33 |back up there by 930 now, can it happen? Absolutely, it can. But for the sake of
56 |55 |00:07:33 ~-~-> 00:07:39 |annotation and getting a feel for before I started the live stream this morning,
57 |56 |00:07:39 ~-~-> 00:07:45 |I wanted to determine where we would be for a gap closure. So naturally,
58 |57 |00:07:45 ~-~-> 00:07:49 |anything opening lower than this price here on the right, on the left hand
59 |58 |00:07:49 ~-~-> 00:07:53 |side, which is regular trading hour settlement price at 4:14pm, Eastern,
60 |59 |00:07:53 ~-~-> 00:07:58 |Standard Time. It's a mouthful, I know, but it's just simply regular trading
61 |60 |00:07:58 ~-~-> 00:08:03 |hours closed on Friday. Okay, so we have not yet seen any regular trading hour
62 |61 |00:08:03 ~-~-> 00:08:09 |trading for the new week yet. It's all electronic trading. So when it started
63 |62 |00:08:09 ~-~-> 00:08:12 |trading at six o'clock yesterday evening, you
64 |63 |00:08:30 ~-~-> 00:08:32 |here's Friday's
65 |64 |00:08:37 ~-~-> 00:08:41 |settlement price on Electronic trading hours here. So you Would annotate that.
66 |65 |00:08:51 ~-~-> 00:08:52 |Let's go with this.
67 |66 |00:09:06 ~-~-> 00:09:09 |Okay, you make the opening gap low. Why do I know that's the low? It's because
68 |67 |00:09:09 ~-~-> 00:09:15 |we settled here and we started trading here on Sunday at 6pm Eastern time. So
69 |68 |00:09:15 ~-~-> 00:09:19 |you just take this once it highlights. Hold down. Control. Drag it away. You
70 |69 |00:09:19 ~-~-> 00:09:23 |can copy that and then simply drag it there, put it right on the opening price
71 |70 |00:09:25 ~-~-> 00:09:37 |and change the high, I'm sorry, change the low to high there. And it's rather
72 |71 |00:09:37 ~-~-> 00:09:42 |small, because it's 44 and a quarter to 496, and a quarter. So it's really,
73 |72 |00:09:42 ~-~-> 00:09:45 |really small. You can, you can put the consequent encroaching on that.
74 |73 |00:09:45 ~-~-> 00:09:48 |Generally, I just eyeball it. But for the sake of just showing you how to do
75 |74 |00:09:48 ~-~-> 00:09:55 |it again as a recap, there is an absence of any significant price data coming out
76 |75 |00:09:55 ~-~-> 00:10:03 |at 830 and on. Today and or Tuesday. It's nothing really terribly exciting.
77 |76 |00:10:06 ~-~-> 00:10:14 |And then what I do is I just take a line segment, drop it on and then make sure
78 |77 |00:10:14 ~-~-> 00:10:20 |it says 490, and a quarter, which it does, and then not change it the line
79 |78 |00:10:20 ~-~-> 00:10:24 |color too. So that's contrasting,
80 |79 |00:10:36 ~-~-> 00:10:42 |maybe opening gap, consequent encroachment, everything being equal and
81 |80 |00:10:42 ~-~-> 00:10:49 |there all right. And now you can go back into looking at where we are in
82 |81 |00:10:49 ~-~-> 00:10:54 |relationship to all those things. You can see the new week opening gap is up
83 |82 |00:10:54 ~-~-> 00:11:01 |here. It's also encapsulating the Friday regular trading hours, settlement price,
84 |83 |00:11:03 ~-~-> 00:11:09 |which would be the Monday gap reference points. So it's always previous days,
85 |84 |00:11:09 ~-~-> 00:11:16 |settlement at regular trading hours. But don't call it or label it as yesterday's
86 |85 |00:11:16 ~-~-> 00:11:20 |or last Friday's date. You're using this data for today's trading which is
87 |86 |00:11:20 ~-~-> 00:11:25 |Monday. So it's going to be Monday's opening range gap high, because we're
88 |87 |00:11:25 ~-~-> 00:11:30 |sitting here right now, now, in the rare event that it trades all the way back up
89 |88 |00:11:30 ~-~-> 00:11:35 |to here and traverses over 100 handles before reaching 930 opening bell, then
90 |89 |00:11:35 ~-~-> 00:11:40 |you would just simply have to change the the label to whatever it would require,
91 |90 |00:11:40 ~-~-> 00:11:44 |if it went back up to it and higher, then this would become the opening range
92 |91 |00:11:44 ~-~-> 00:11:49 |gap low, and then whatever 9/31 print would be that would be the opening range
93 |92 |00:11:49 ~-~-> 00:11:57 |gap high. All right, so let's go back into a five minute chart on that one and
94 |93 |00:11:57 ~-~-> 00:12:06 |leave everything as it is. Widen them up a little bit. Okay. And over here 32nd
95 |94 |00:12:06 ~-~-> 00:12:15 |chart, you can already see there's a lot of liquidity sitting under this block of
96 |95 |00:12:15 ~-~-> 00:12:22 |price action. It's just a little just looks kind of wonky. I like the idea of
97 |96 |00:12:22 ~-~-> 00:12:27 |coming back down to Thursday's opening range, gap low. And if it was to do
98 |97 |00:12:27 ~-~-> 00:12:31 |that, excuse me, if it were to do that and trade down below it, we have
99 |98 |00:12:31 ~-~-> 00:12:37 |Thursday's Asian session, sell side liquidity. Now I'm gonna magnify this
100 |99 |00:12:37 ~-~-> 00:12:43 |chart here and kind of show you what that reference is. We have some minor
101 |100 |00:12:43 ~-~-> 00:12:45 |cell side, which you guarding attack that the bodies have stayed above that
102 |101 |00:12:45 ~-~-> 00:12:51 |we wick down through it so it's allowed to do the damage. There we have this
103 |102 |00:12:51 ~-~-> 00:12:55 |level. Here I'm watching without having having an annotation, should we start to
104 |103 |00:12:55 ~-~-> 00:13:01 |slide again? Lower that consequent encroachment. And then we have the Asian
105 |104 |00:13:01 ~-~-> 00:13:06 |session low, you can see that 8:30pm It's New York local time, always on
106 |105 |00:13:06 ~-~-> 00:13:11 |october 17, last Thursday. So the liquidity we're seeing below that time
107 |106 |00:13:11 ~-~-> 00:13:16 |of day, okay, which is a session high or session low? In this case, when you
108 |107 |00:13:16 ~-~-> 00:13:21 |don't have any data, okay, nothing coming out at 830 and the day is pretty
109 |108 |00:13:21 ~-~-> 00:13:28 |much void of any kind of volatility injections, no real impact drivers by
110 |109 |00:13:29 ~-~-> 00:13:33 |medium impact or high impact on the economic calendar, you want to aim for
111 |110 |00:13:33 ~-~-> 00:13:37 |session highs and session lows. That means, what was the high and the low of
112 |111 |00:13:37 ~-~-> 00:13:43 |London? What was the high and low of Asia. What was the pm session high and
113 |112 |00:13:43 ~-~-> 00:13:48 |low of the previous trading session, or trading day rather? And then what was
114 |113 |00:13:48 ~-~-> 00:13:54 |the am session high and low of that previous day's trading? All of those are
115 |114 |00:13:54 ~-~-> 00:13:58 |relative to where you're at on the market. Pre market like now we're
116 |115 |00:13:58 ~-~-> 00:14:05 |trading electronic trading hours. We're trading at 20,003 90 even by going into
117 |116 |00:14:05 ~-~-> 00:14:08 |your chart and annotating where the highs and lows are respectively. In
118 |117 |00:14:08 ~-~-> 00:14:15 |other words, what was London's high and low or the overnight dealing range I
119 |118 |00:14:15 ~-~-> 00:14:20 |taught you that last week. And if we are in a market protraction, where it's just
120 |119 |00:14:20 ~-~-> 00:14:27 |really running in one direction. You don't grade that. But if there is a
121 |120 |00:14:27 ~-~-> 00:14:32 |consolidation, if you grade it, you can anticipate exactly where throughout the
122 |121 |00:14:32 ~-~-> 00:14:38 |morning session, during pre market, where the next subsequent premium or
123 |122 |00:14:38 ~-~-> 00:14:41 |discount array will form. And you can trade the pre market session. But I even
124 |123 |00:14:41 ~-~-> 00:14:44 |have to be there for the opening. For the opening bell or do anything rest of
125 |124 |00:14:44 ~-~-> 00:14:49 |the day. But when we have no data, when the economic calendar is anemic, it's
126 |125 |00:14:49 ~-~-> 00:14:54 |just simply void of anything that would constitute an injection of volatility by
127 |126 |00:14:54 ~-~-> 00:15:00 |a medium impact or a high impact news driver, some kind of news data. I. Then
128 |127 |00:15:00 ~-~-> 00:15:05 |the easiest thing you can do is aim for you don't need to do it just in these
129 |128 |00:15:05 ~-~-> 00:15:09 |instances. If it becomes something you like, you can simply use previous
130 |129 |00:15:09 ~-~-> 00:15:13 |session highs and lows. That means not the daily highs and lows that's also
131 |130 |00:15:13 ~-~-> 00:15:17 |included here, but session highs and lows. Okay, so we strip it down to
132 |131 |00:15:17 ~-~-> 00:15:23 |London session, New York, session, am, pm session in New York, then you have
133 |132 |00:15:23 ~-~-> 00:15:28 |Asian session. Okay, so you have four opportunities per day to frame a trade
134 |133 |00:15:28 ~-~-> 00:15:33 |setup. Now this is not an invitation for you to go hog wild out there and try to
135 |134 |00:15:33 ~-~-> 00:15:37 |trade every single one of these sessions, but you should, if it allows
136 |135 |00:15:37 ~-~-> 00:15:40 |you by your schedule, if you're you know, if your personal time afford you
137 |136 |00:15:40 ~-~-> 00:15:46 |to sit in front of charts and tape read them. It will help you become a better
138 |137 |00:15:46 ~-~-> 00:15:48 |and well rounded technical trader. You'll be able to read price better
139 |138 |00:15:48 ~-~-> 00:15:54 |because you have a lot more experience doing it. So my go to protocol is when
140 |139 |00:15:54 ~-~-> 00:15:57 |there's no data, when there's nothing coming out at 830 it doesn't mean that
141 |140 |00:15:57 ~-~-> 00:16:00 |the market just sits still because there's no data. Obviously it's going to
142 |141 |00:16:01 ~-~-> 00:16:06 |move, but what you're gonna aim for is session highs and session lows and as
143 |142 |00:16:06 ~-~-> 00:16:11 |again, do not think that this is the only thing you do, just because there's
144 |143 |00:16:11 ~-~-> 00:16:17 |no data that's being released at 830 it can be utilized in days that have
145 |144 |00:16:17 ~-~-> 00:16:22 |economic data that has medium impact or high impact news events around 830 or
146 |145 |00:16:22 ~-~-> 00:16:28 |so. But it's my usual reach for Okay, well, I'm just going to simply look for
147 |146 |00:16:28 ~-~-> 00:16:32 |the liquidity in the previous session. So what was the high and the low in
148 |147 |00:16:32 ~-~-> 00:16:42 |London? We're already annotating the the Thursdays Asian range. Low, which would
149 |148 |00:16:42 ~-~-> 00:16:45 |be below that would be sell side. And then I have believed Wednesday as well.
150 |149 |00:16:46 ~-~-> 00:16:51 |Yeah, I have Wednesdays Asian session, sell side liquidity pool annotated right
151 |150 |00:16:51 ~-~-> 00:16:56 |here with these relative equal lows. If you look at that low right there, it's
152 |151 |00:16:56 ~-~-> 00:17:01 |810, and we don't care about anything over here, because that's the low during
153 |152 |00:17:01 ~-~-> 00:17:06 |Asia, and it's relative equal low. So if we were to lose ground this morning into
154 |153 |00:17:07 ~-~-> 00:17:15 |the regular trading session, 930 going into 11 o'clock London, close, if we
155 |154 |00:17:15 ~-~-> 00:17:20 |were to trade lower than this low here, my focus would be here for the for the
156 |155 |00:17:20 ~-~-> 00:17:27 |morning session. That means between 930 and 11 o'clock or so going into noon, as
157 |156 |00:17:27 ~-~-> 00:17:33 |it stands right now, I want to kind of show you London's overnight dealing
158 |157 |00:17:33 ~-~-> 00:17:38 |range, so that way you can frame it, and you'll know what to do each session. And
159 |158 |00:17:41 ~-~-> 00:17:45 |you can do this every single day, and you'll never run out of setups. You'll
160 |159 |00:17:45 ~-~-> 00:17:50 |never, ever, ever, ever run out of setups, even on high resistance
161 |160 |00:17:50 ~-~-> 00:17:56 |liquidity run days, these reference points will be used on low resistance
162 |161 |00:17:56 ~-~-> 00:18:01 |liquidity run days. They are absolute bangers for just easy, low hanging fruit
163 |162 |00:18:01 ~-~-> 00:18:04 |objectives, getting in, taking your profit right there, and being content
164 |163 |00:18:04 ~-~-> 00:18:09 |with that it may continuously run beyond what you're aiming for, but in the
165 |164 |00:18:09 ~-~-> 00:18:16 |beginning, doesn't that give you a really good probability of finding
166 |165 |00:18:16 ~-~-> 00:18:20 |consistent setups that would reward your diligence about looking for Something
167 |166 |00:18:20 ~-~-> 00:18:24 |that repeats over and over again. You should not be trying to get 100 handles
168 |167 |00:18:24 ~-~-> 00:18:28 |a day in the beginning as a new trader. That's not realistic. It's not realistic
169 |168 |00:18:28 ~-~-> 00:18:34 |at all. But if you can get five handles a day on S, P and 10 handles a day on
170 |169 |00:18:34 ~-~-> 00:18:41 |NASDAQ as your first rung objective, and you grow to 15 handles to 20 handles in
171 |170 |00:18:41 ~-~-> 00:18:47 |the NASDAQ, to 10 to 15 handles in the ES, once and once you get it for the
172 |171 |00:18:47 ~-~-> 00:18:50 |day, then stop. Then take regressive day, because you're going to be training
173 |172 |00:18:50 ~-~-> 00:18:55 |yourself for discipline, and you're also looking for that one good setup that you
174 |173 |00:18:55 ~-~-> 00:18:58 |trust based on the technicals, based on your bias, based on everything you have
175 |174 |00:18:58 ~-~-> 00:19:01 |going on. And if you're trying to just press the button every time you feel an
176 |175 |00:19:01 ~-~-> 00:19:05 |impulse to do so, you're not do so you're not really following a model. So
177 |176 |00:19:05 ~-~-> 00:19:09 |the only way you fix that is by going in and looking for one good setup that has
178 |177 |00:19:09 ~-~-> 00:19:13 |a plethora of things that around IT support the idea that is likely to go
179 |178 |00:19:13 ~-~-> 00:19:17 |there, in that direction, at that PD array, you're trying to trade off of and
180 |179 |00:19:17 ~-~-> 00:19:24 |being diligent about forming that responsibility, that accountability in
181 |180 |00:19:24 ~-~-> 00:19:27 |yourself, only looking for that one setup, and the way you get there is
182 |181 |00:19:27 ~-~-> 00:19:31 |simply knowing where are the likely candidates for the market to draw to.
183 |182 |00:19:32 ~-~-> 00:19:36 |Now taking buy side liquidity and sell side liquidity out of the equation in
184 |183 |00:19:36 ~-~-> 00:19:40 |terms of just nearby swing highs and lows, and then framing on which swing
185 |184 |00:19:40 ~-~-> 00:19:45 |highs and swing swing lows. Which are they? Well, in London, we have to frame,
186 |185 |00:19:45 ~-~-> 00:19:51 |obviously the London time. So here is midnight, and we're working again with
187 |186 |00:19:51 ~-~-> 00:19:56 |the five minute chart. So we have midnight New York local time. So that's
188 |187 |00:19:56 ~-~-> 00:20:05 |true day. And then we have a. The kill zone, which is 2am Eastern Standard
189 |188 |00:20:05 ~-~-> 00:20:20 |Time, which ends at 5am now where's the liquidity in that time? Well, that's the
190 |189 |00:20:20 ~-~-> 00:20:26 |low of it here, so I can rebook back to that low. But I'm not interested in it.
191 |190 |00:20:26 ~-~-> 00:20:33 |I want to know what is the I'll make these levels black, okay, and I'll make
192 |191 |00:20:33 ~-~-> 00:20:37 |them bold. So this is London session. I'm
193 |192 |00:20:46 ~-~-> 00:20:55 |one session low bottom left, and we'll make it 16, okay, and then you can
194 |193 |00:20:55 ~-~-> 00:21:05 |already see what's here. What is that smooth highs? I'm so you highlight the
195 |194 |00:21:05 ~-~-> 00:21:09 |level you want to copy. Hold down Control, drag it up, and it denies you
196 |195 |00:21:09 ~-~-> 00:21:14 |because you're watching being done on live stream. It all these messes when
197 |196 |00:21:14 ~-~-> 00:21:21 |you fucking trading view. So we have relative equal highs. So this will be
198 |197 |00:21:21 ~-~-> 00:21:28 |london session high, right? And obviously you don't need to label it.
199 |198 |00:21:28 ~-~-> 00:21:31 |You know what's above it, because you know what's above highs, it's by side.
200 |199 |00:21:32 ~-~-> 00:21:36 |But what you're doing is you're labeling your chart with these reference points
201 |200 |00:21:36 ~-~-> 00:21:42 |for the basis of understanding where certain liquidity pools will be a
202 |201 |00:21:42 ~-~-> 00:21:46 |factor. Now, obviously it goes without saying that. You know, there's a short
203 |202 |00:21:46 ~-~-> 00:21:50 |term little high here, so we'll be resting above that buy side liquidity.
204 |203 |00:21:50 ~-~-> 00:21:57 |But in in reference to and and in deference to time, what's more, what's
205 |204 |00:21:57 ~-~-> 00:22:02 |more salient for the morning session is it the london session highs here, or
206 |205 |00:22:02 ~-~-> 00:22:06 |this one single little candlestick high where there would be buy side above both
207 |206 |00:22:06 ~-~-> 00:22:11 |this area here and these, but which one's more likely to be a draw on
208 |207 |00:22:11 ~-~-> 00:22:14 |liquidity? Why would the market if it were, in fact, manipulated, if it was
209 |208 |00:22:14 ~-~-> 00:22:17 |controlled, if it was targeting liquidity, if it was doing those very
210 |209 |00:22:17 ~-~-> 00:22:20 |things, and I'm saying that in tongue in cheek, because it obviously is doing
211 |210 |00:22:20 ~-~-> 00:22:23 |that. But there's a lot of people in the world that don't believe that. Don't
212 |211 |00:22:24 ~-~-> 00:22:28 |believe that. Would would it be simply in interest only go back up to this high
213 |212 |00:22:28 ~-~-> 00:22:32 |here and not even disrupt these smooth highs? Or would it be, yes, this would
214 |213 |00:22:32 ~-~-> 00:22:35 |be one minor objective to reach for, but we would like to see it. Want to
215 |214 |00:22:35 ~-~-> 00:22:39 |accelerate through that area to get to this area here, before they could take
216 |215 |00:22:39 ~-~-> 00:22:42 |their stops out of the marketplace. We want to, we want to see the market
217 |216 |00:22:42 ~-~-> 00:22:48 |gravitate back here aggressively. That further is the likelihood in pre market.
218 |217 |00:22:48 ~-~-> 00:22:57 |Because why we have a gap now it's, it's slowly eroding the the the size of the
219 |218 |00:22:57 ~-~-> 00:23:01 |gap that would be, if it was opening down here, that would be a rather large
220 |219 |00:23:01 ~-~-> 00:23:08 |gap, but it's narrowing that gap now as we get closer and closer to 930 which
221 |220 |00:23:09 ~-~-> 00:23:13 |will be where I'm at here on the five minute chart. So we have time. Is it
222 |221 |00:23:13 ~-~-> 00:23:18 |likely to draw all the up arrow to 2000 I'm sorry, 20,004 94, and a quarter
223 |222 |00:23:19 ~-~-> 00:23:24 |probabilities are rather small for it to occur, but it can, obviously it can do
224 |223 |00:23:24 ~-~-> 00:23:31 |things like that. So in pre market, when there's no data, I like to look at where
225 |224 |00:23:31 ~-~-> 00:23:36 |we were for London. So if we were looking at trading in London, these are
226 |225 |00:23:36 ~-~-> 00:23:42 |the reference points that that session created its range, the highest high
227 |226 |00:23:44 ~-~-> 00:23:49 |inside of London, between two o'clock in the morning here and 5am when the london
228 |227 |00:23:49 ~-~-> 00:23:54 |session closes, or in turns of the kill zone, the time that the algorithm will
229 |228 |00:23:54 ~-~-> 00:23:59 |be looking for liquidity, looking for PD arrays, looking for a reason to Move all
230 |229 |00:23:59 ~-~-> 00:24:06 |that is encapsulated inside that time. Now this is the same thing for forex. So
231 |230 |00:24:06 ~-~-> 00:24:09 |if you're a forex trader, it's the same application. There's nothing different
232 |231 |00:24:09 ~-~-> 00:24:13 |here. It is absolutely no different. Everything I've said so far this morning
233 |232 |00:24:13 ~-~-> 00:24:19 |is still relative to Forex. It's relative to bonds, it's relative to
234 |233 |00:24:22 ~-~-> 00:24:27 |current. Currency futures, not just Forex. Like everything is being
235 |234 |00:24:27 ~-~-> 00:24:31 |explained to you on the basis of time, and it's it's universal, so it goes
236 |235 |00:24:31 ~-~-> 00:24:37 |across all the asset classes except for crypto. I have not investigated crypto.
237 |236 |00:24:37 ~-~-> 00:24:40 |I have students that swear by I don't have an interest in ever trading it. So
238 |237 |00:24:40 ~-~-> 00:24:45 |that's why I say I don't say it there. But you're welcome to investigate that
239 |238 |00:24:45 ~-~-> 00:24:49 |yourself. I don't do it. I don't trade the Indian markets. I have no experience
240 |239 |00:24:49 ~-~-> 00:24:52 |with the Nifty 50. I don't have any experience with that at all. I don't
241 |240 |00:24:52 ~-~-> 00:24:58 |know if it works at all there. So for the folks that live in India that use
242 |241 |00:24:58 ~-~-> 00:25:02 |that as your your base. For trading, it's in your hands determine whether
243 |242 |00:25:02 ~-~-> 00:25:06 |there's a value in using these concepts there. I don't have any experience with
244 |243 |00:25:06 ~-~-> 00:25:09 |it, so I get a lot of questions in the comment section asking that. I just
245 |244 |00:25:09 ~-~-> 00:25:16 |simply don't have an answer for you in that regard. So again, back to where
246 |245 |00:25:16 ~-~-> 00:25:25 |we're at. What is the usual protocol for a discount gap opening at 930 meaning if
247 |246 |00:25:25 ~-~-> 00:25:29 |we open lower than previous day, selling what's what's previous day on Monday,
248 |247 |00:25:30 ~-~-> 00:25:35 |it's last Friday, always. So unless Friday was a holiday and there was no
249 |248 |00:25:35 ~-~-> 00:25:41 |trading, we would simply use previous day or previous week, if it's a Monday.
250 |249 |00:25:41 ~-~-> 00:25:47 |So in this case, since it's actually Monday, October 21 2420 24 we refer back
251 |250 |00:25:47 ~-~-> 00:25:53 |to Friday's electronic I'm sorry. Friday's regular trading hours close or
252 |251 |00:25:53 ~-~-> 00:25:59 |settlement price. Any one second I forgot to put my phone on. Do not
253 |252 |00:25:59 ~-~-> 00:26:03 |disturb. There's always some Yahoo trying to talk to anyone. I'm doing this
254 |253 |00:26:04 ~-~-> 00:26:13 |anyway, the so when we have a gap lower at 930 relative to the previous day's
255 |254 |00:26:13 ~-~-> 00:26:18 |settlement price, and that being Friday's settlement price, and that's
256 |255 |00:26:18 ~-~-> 00:26:23 |this black line here. Okay, it's labeled Monday's opening range gap high because
257 |256 |00:26:23 ~-~-> 00:26:27 |we're down here already, so it's not likely that we're gonna come all the way
258 |257 |00:26:27 ~-~-> 00:26:32 |back up here by 930 so I've already annotated my chart here. Technically,
259 |258 |00:26:33 ~-~-> 00:26:39 |this should be labeled as Friday's electronic trading settlement closing
260 |259 |00:26:39 ~-~-> 00:26:45 |price, but because I feel like we'll probably open somewhere below that. That
261 |260 |00:26:45 ~-~-> 00:26:48 |means whatever the opening price, let's say, let's play devil's advocate for a
262 |261 |00:26:48 ~-~-> 00:26:56 |moment. And let's say the next tick is the opening price, and it's 408 Okay, so
263 |262 |00:26:56 ~-~-> 00:27:03 |four eight even. So I would annotate my chart at 408 even. 20,004 0800, and and
264 |263 |00:27:03 ~-~-> 00:27:06 |that would be lower than that level up here. So that would be labeled as
265 |264 |00:27:06 ~-~-> 00:27:12 |Monday's opening range, gap low. Now, because it's opened lower. What is the
266 |265 |00:27:12 ~-~-> 00:27:17 |bias? What's the bias for the next 30 minutes, or the first 30 minutes at 930,
267 |266 |00:27:17 ~-~-> 00:27:24 |10 o'clock? It would be bullish, expecting a minimum of half of that gaps
268 |267 |00:27:24 ~-~-> 00:27:28 |range to be traded to, because there's a 70% likelihood of half the gap being
269 |268 |00:27:28 ~-~-> 00:27:33 |traded to during the first 30 minutes of trading, 930 to 10 o'clock Eastern time.
270 |269 |00:27:33 ~-~-> 00:27:39 |So if it were to do that, okay? And again, this, this is hypothetical,
271 |270 |00:27:39 ~-~-> 00:27:43 |because I'm not going to be here for 930 okay, but I'm just giving you how I look
272 |271 |00:27:43 ~-~-> 00:27:48 |at the pre market session and then how I use that also in relationship to session
273 |272 |00:27:48 ~-~-> 00:27:51 |highs and session lows, as we have here we have London sessions highs. That's my
274 |273 |00:27:51 ~-~-> 00:27:55 |interest. I'm not interested in just simply going back to the London lows
275 |274 |00:27:55 ~-~-> 00:28:00 |that we've already worked those here. So if we can get back through the London
276 |275 |00:28:00 ~-~-> 00:28:04 |low what levels would be impactful? Well, we obviously have short term minor
277 |276 |00:28:04 ~-~-> 00:28:08 |buy side liquidity there, so you can annotate that with a very thin level
278 |277 |00:28:09 ~-~-> 00:28:12 |that doesn't draw too much attention, but still annotates it for the purposes
279 |278 |00:28:12 ~-~-> 00:28:23 |of your tape reading. We can do something like this, and then minor buy
280 |279 |00:28:23 ~-~-> 00:28:39 |side, liquidity, top left, and we'll do it Okay, and that's all too okay. So
281 |280 |00:28:39 ~-~-> 00:28:43 |it's ghosted there. You can still see it, but it's not jumping off the chart
282 |281 |00:28:43 ~-~-> 00:28:47 |saying, Hey, look at me. So your your eye isn't looking at that and thinking,
283 |282 |00:28:47 ~-~-> 00:28:53 |well, this is all there is to this move. These levels are bold, because I want my
284 |283 |00:28:53 ~-~-> 00:28:58 |students looking at this chart to see that as a much more impactful level to
285 |284 |00:28:58 ~-~-> 00:29:01 |draw to not to simply let me come up here and knock out the stops on anyone
286 |285 |00:29:01 ~-~-> 00:29:05 |that's short here. This is where the majority of the liquidity is. If
287 |286 |00:29:05 ~-~-> 00:29:10 |anyone's short up here, this is where their stops trail to now admit,
288 |287 |00:29:10 ~-~-> 00:29:13 |admittedly, there's some that has trailed it here, and probably all down
289 |288 |00:29:13 ~-~-> 00:29:16 |to here, and they've been stopped out. So they're no longer a factor in the
290 |289 |00:29:16 ~-~-> 00:29:21 |equation anyway. But using that 408 level hypothetically, say that was
291 |290 |00:29:21 ~-~-> 00:29:30 |20,004 zero, 8.00 say that was at 930 and that gap would be solidified as a
292 |291 |00:29:30 ~-~-> 00:29:34 |discount gap, meaning that we opened lower than previous render trading hours
293 |292 |00:29:34 ~-~-> 00:29:37 |selling price, which is this level up here I've annotated already for Monday's
294 |293 |00:29:37 ~-~-> 00:29:44 |Opening range. Gap high. That means for the next 30 minutes from 930 to 10
295 |294 |00:29:44 ~-~-> 00:29:50 |o'clock, my bias would be bullish. It at the very minimum until, until 50% of
296 |295 |00:29:50 ~-~-> 00:29:54 |that opening range gap is traded to So hypothetically, okay, and this is not to
297 |296 |00:29:54 ~-~-> 00:29:58 |be used for today, okay, I'm just saying. I'm teaching you how to do this
298 |297 |00:29:58 ~-~-> 00:30:05 |stuff every single day, going for. Board. Okay, so hypothetically, let's
299 |298 |00:30:05 ~-~-> 00:30:11 |say that is the other side of the range, or what would be, quote, unquote, the
300 |299 |00:30:11 ~-~-> 00:30:18 |930 opening price. That means that this would be your first tick price at 930
301 |300 |00:30:18 ~-~-> 00:30:21 |and then you reference where you've previously settled on Friday because
302 |301 |00:30:21 ~-~-> 00:30:28 |it's Monday. So you would drop your fib on that level here, and up to
303 |302 |00:30:31 ~-~-> 00:30:36 |494 and a quarter, and you drop it so there's 50% of the opening range. If it
304 |303 |00:30:36 ~-~-> 00:30:41 |was using four zero, it ain't using 408 because it's not even 930 yet. So be
305 |304 |00:30:41 ~-~-> 00:30:44 |aware that what I'm suggesting to you here is just a hypothetical approach to
306 |305 |00:30:44 ~-~-> 00:30:50 |how I do it anyway. So notice that we would have half the gap here, and if it
307 |306 |00:30:50 ~-~-> 00:30:54 |was sitting here like this, would I be content with simply trying to be long up
308 |307 |00:30:54 ~-~-> 00:30:58 |into that level there, knowing that there is London session highs right here
309 |308 |00:30:58 ~-~-> 00:31:03 |that are smooth. So what would what would be the most likely scenario for
310 |309 |00:31:03 ~-~-> 00:31:07 |ICT to be trading in that situation? I would be long looking for a partial
311 |310 |00:31:07 ~-~-> 00:31:12 |here, but more specifically, aiming for a draw in above here, because if it's
312 |311 |00:31:12 ~-~-> 00:31:15 |going to go here, and it's in close proximity, there's relative equal highs,
313 |312 |00:31:15 ~-~-> 00:31:19 |it's not likely to leave that there, because we have a whole lot more or half
314 |313 |00:31:19 ~-~-> 00:31:22 |the other portion of that gap still to be traded to it could go a full gap
315 |314 |00:31:22 ~-~-> 00:31:28 |closure or three quarter gap closure. So by blending session highs and session
316 |315 |00:31:28 ~-~-> 00:31:33 |lows in also incorporating the opening range, gap when, when the gap is
317 |316 |00:31:33 ~-~-> 00:31:40 |allowing that that that measure of importance, in this case, hypothetically
318 |317 |00:31:40 ~-~-> 00:31:45 |using that 408 point 00, level, if it were the opening price, it could be
319 |318 |00:31:45 ~-~-> 00:31:51 |simply any price. I mean, I'm saying, if it say we open up here, okay, and that
320 |319 |00:31:51 ~-~-> 00:31:58 |would mean that we have mid gap would be essentially about there, which also
321 |320 |00:31:58 ~-~-> 00:32:03 |agrees with clearing out the london session. Highs by side. So it's building
322 |321 |00:32:03 ~-~-> 00:32:10 |what several things, not just one thing, several things to lean on in terms of a
323 |322 |00:32:10 ~-~-> 00:32:15 |draw, on liquidity, and you're using finite reference points, not something
324 |323 |00:32:15 ~-~-> 00:32:18 |that's always morphing into something new, always trying to figure out a
325 |324 |00:32:18 ~-~-> 00:32:22 |mystery in price action. The highest high and the lowest low of london
326 |325 |00:32:22 ~-~-> 00:32:26 |session is what it is. That's what it is. Okay, it's not going to change it.
327 |326 |00:32:26 ~-~-> 00:32:30 |Can't hide it from you. Okay. And the opening range gap, if there is one, and
328 |327 |00:32:31 ~-~-> 00:32:34 |generally there is one, that just depends how much of a gap there, there
329 |328 |00:32:34 ~-~-> 00:32:40 |would be if we're opening lower, you know, until half that gap is filled
330 |329 |00:32:40 ~-~-> 00:32:45 |during the first 30 minutes, I am looking for longs. I'm not looking to go
331 |330 |00:32:45 ~-~-> 00:32:49 |short. I'm never, ever, ever, ever, ever going in there on the basis of simply
332 |331 |00:32:49 ~-~-> 00:32:52 |just going, I'm going to go short because we open lower. That's the worst
333 |332 |00:32:52 ~-~-> 00:32:56 |thing in the world to do. That's what retail minded traders do. They want to
334 |333 |00:32:56 ~-~-> 00:33:00 |chase. They think, wow, we're we're way down from yesterday. Because they look
335 |334 |00:33:00 ~-~-> 00:33:05 |at the relationship between yesterday's close to where we open today. That's the
336 |335 |00:33:05 ~-~-> 00:33:09 |public's perspective. The professional perspective is, where do we close from
337 |336 |00:33:09 ~-~-> 00:33:14 |today's opening? That's the challenge I put out for the people that make
338 |337 |00:33:14 ~-~-> 00:33:18 |indicators. If you plot a cumulative line on the relationship between
339 |338 |00:33:18 ~-~-> 00:33:22 |yesterday's close and today's open, and you plot that on a cumulative basis,
340 |339 |00:33:22 ~-~-> 00:33:26 |you're going to see what retail perspective is. And if you plot it on
341 |340 |00:33:26 ~-~-> 00:33:30 |the basis of today's opening price versus today's closing price, you're
342 |341 |00:33:30 ~-~-> 00:33:34 |going to get the professional mindset, because that's actual accumulation and
343 |342 |00:33:34 ~-~-> 00:33:38 |distribution once the market has booked, when there's an opening price, opening
344 |343 |00:33:38 ~-~-> 00:33:43 |price is always, always rough cut sentiment. That means it's meant to go
345 |344 |00:33:43 ~-~-> 00:33:48 |out there and inspire or discourage traders that are less informed, because
346 |345 |00:33:48 ~-~-> 00:33:53 |they're mostly impulsive creatures. So they see, oh, we opened lower than
347 |346 |00:33:53 ~-~-> 00:33:56 |yesterday's close or last week's close. So therefore they think it's weak, so
348 |347 |00:33:56 ~-~-> 00:33:59 |therefore they want to chase it, and they go short. And then what happens is,
349 |348 |00:33:59 ~-~-> 00:34:03 |is the gap starts to close in, even if it's just a half a gap that's enough to
350 |349 |00:34:03 ~-~-> 00:34:07 |wipe them out many times, because you retail traders want to over leverage
351 |350 |00:34:07 ~-~-> 00:34:12 |just a quarter of the gap being traded too and being filled just a quarter
352 |351 |00:34:13 ~-~-> 00:34:17 |portion of it wouldn't stop you out and cause you to have a losing trade or
353 |352 |00:34:17 ~-~-> 00:34:24 |losing day. So it's real important to measure several factors relative to
354 |353 |00:34:24 ~-~-> 00:34:29 |time. That's what we're focusing on here time. And then what price levels in
355 |354 |00:34:29 ~-~-> 00:34:38 |those periods are we concerned with? If we're looking at days that have high
356 |355 |00:34:38 ~-~-> 00:34:42 |impact or medium impact news drivers, then obviously what I'm showing here
357 |356 |00:34:42 ~-~-> 00:34:51 |still is applicable. It's even more likely to deliver faster runs. What's
358 |357 |00:34:51 ~-~-> 00:34:54 |missing is the volatility injection. Because of the news not being available
359 |358 |00:34:54 ~-~-> 00:34:58 |to us, we don't have a medium impact we don't have a high impact news driver. We
360 |359 |00:34:58 ~-~-> 00:35:04 |don't have like a PMI, a C. Pi, we don't have any kind of we have really nothing
361 |360 |00:35:04 ~-~-> 00:35:08 |that speak up Monday and Tuesday of this calendar week. So I I'm not suggesting
362 |361 |00:35:08 ~-~-> 00:35:12 |that simply because there's no data, that there's no reason to trade. There
363 |362 |00:35:12 ~-~-> 00:35:16 |is absolutely reasons to trade, but you have to have a procedure or a protocol
364 |363 |00:35:16 ~-~-> 00:35:20 |that you're going to stick to to help you frame your setups. Otherwise you're
365 |364 |00:35:20 ~-~-> 00:35:23 |guessing. Otherwise, you're trying to do something on the basis of just one
366 |365 |00:35:23 ~-~-> 00:35:27 |candlestick pattern, one order block, one fair value gap, you know, just
367 |366 |00:35:27 ~-~-> 00:35:31 |because it looks like it's, you know, this high here or this low here, you
368 |367 |00:35:31 ~-~-> 00:35:35 |know which ones are going to hit. Is it going to take the minor buy side here?
369 |368 |00:35:35 ~-~-> 00:35:38 |Is it going to take the minor sell side here? Because that's what should be
370 |369 |00:35:38 ~-~-> 00:35:42 |framed, basically, right now, where we're trading. Right now your focus
371 |370 |00:35:42 ~-~-> 00:35:46 |should be, are we going to take the buy side here? Are we going to take the sell
372 |371 |00:35:46 ~-~-> 00:35:53 |side there? That's the next move. Nothing, nothing else except for staying
373 |372 |00:35:53 ~-~-> 00:35:57 |inside that range between this high and that low. There's nothing else you can
374 |373 |00:35:58 ~-~-> 00:36:02 |do. There's nothing there's nothing else to do. Either it stays in the range or
375 |374 |00:36:02 ~-~-> 00:36:07 |it runs for the buy side or runs for the sell side. So your question that needs
376 |375 |00:36:07 ~-~-> 00:36:12 |to be answered is, do you know with any degree of confidence which one of those
377 |376 |00:36:12 ~-~-> 00:36:18 |levels are going to be traded to now, as we get closer, if it stays in that range
378 |377 |00:36:18 ~-~-> 00:36:22 |between this high and that low, as we get closer to 930 opening bell, which I
379 |378 |00:36:22 ~-~-> 00:36:27 |won't be here with you. Okay, literally, I'm going to be going here in about six
380 |379 |00:36:27 ~-~-> 00:36:34 |or seven minutes. You want to see it draw higher, because you why? Why would
381 |380 |00:36:34 ~-~-> 00:36:40 |that be a factor? Because the gap aspect, because you're already lower
382 |381 |00:36:40 ~-~-> 00:36:45 |than previous day selling Friday. So again at 930 that starts that countdown
383 |382 |00:36:45 ~-~-> 00:36:49 |for the next 30 minutes. Between 930 to 10 o'clock Eastern time, your bias is
384 |383 |00:36:49 ~-~-> 00:36:55 |what bullish until 50% that gap is closed. It doesn't mean it then becomes
385 |384 |00:36:55 ~-~-> 00:37:00 |bearish. It just means that that 70% of the time, that's what's usually
386 |385 |00:37:00 ~-~-> 00:37:05 |unfolding. That's what's usually likely to be seen in price action. Now, does it
387 |386 |00:37:05 ~-~-> 00:37:10 |mean that if it doesn't go up there and go to 50% opening range gap within the
388 |387 |00:37:10 ~-~-> 00:37:14 |30 minutes of 930, to 10 o'clock, then it ain't going to go there? No, I'm
389 |388 |00:37:14 ~-~-> 00:37:22 |still going to look for that. I'm just saying for a immediate bias, something
390 |389 |00:37:22 ~-~-> 00:37:26 |to look for in price action, a some something to study, something to tape,
391 |390 |00:37:26 ~-~-> 00:37:30 |read, something to draw your focus to. Instead of just looking at the charts
392 |391 |00:37:30 ~-~-> 00:37:34 |and not knowing what you're looking at or what you're looking for, it gives you
393 |392 |00:37:34 ~-~-> 00:37:40 |immediate information, Intel. If we got lower, okay, look for it to go higher up
394 |393 |00:37:40 ~-~-> 00:37:44 |to half the gap, and that could be your entire model. And you never need to do
395 |394 |00:37:44 ~-~-> 00:37:46 |anything else. You never need to come back and watch any of my videos. You
396 |395 |00:37:46 ~-~-> 00:37:50 |never need to worry about any of my live streams anymore, ever, ever, ever, ever,
397 |396 |00:37:50 ~-~-> 00:37:55 |that's my goal as a mentor. I am not trying to tether you to me. Every other
398 |397 |00:37:55 ~-~-> 00:37:58 |mentor wants you to constantly watch them. They want you to buy their
399 |398 |00:37:58 ~-~-> 00:38:01 |bullshit. They want you to buy their courses. They want you to do everything
400 |399 |00:38:01 ~-~-> 00:38:04 |it keeps feeding them and paying their bills. I'm looking to end your
401 |400 |00:38:04 ~-~-> 00:38:08 |visibility. No, not visible, your viewership. That's my goal. I want you
402 |401 |00:38:08 ~-~-> 00:38:12 |to say, You know what I learned? Enough. Thank you. ICT, I never watch your stuff
403 |402 |00:38:12 ~-~-> 00:38:15 |anymore. That's That's my goal. That's nobody else's goal. In this business,
404 |403 |00:38:16 ~-~-> 00:38:19 |they're wanting you to continuously come back. I'm trying to bring you to a point
405 |404 |00:38:19 ~-~-> 00:38:23 |of you're independently thinking without me or anyone else. You're not buying any
406 |405 |00:38:23 ~-~-> 00:38:26 |courses. You're not buying any other mentorships. You're simply just doing
407 |406 |00:38:26 ~-~-> 00:38:29 |your own thing, making your money and living your life and taking care of your
408 |407 |00:38:29 ~-~-> 00:38:34 |family. That's my goal for you. That's it. And if I wanted to make money off of
409 |408 |00:38:34 ~-~-> 00:38:38 |you, I very easily could do that. I'm not. I'm sitting here giving it to you
410 |409 |00:38:38 ~-~-> 00:38:43 |for free. You watch or you don't watch it. So obviously this is hypothetical
411 |410 |00:38:43 ~-~-> 00:38:44 |example, but
412 |411 |00:38:49 ~-~-> 00:38:56 |so my interest rate now as we go into 930 Okay, or shortly after 930 because
413 |412 |00:38:56 ~-~-> 00:38:59 |we have the strong likelihood it's going to be a discount gap, that means we're
414 |413 |00:38:59 ~-~-> 00:39:05 |opening lower than Friday's regulator trading session hours, my interest is
415 |414 |00:39:05 ~-~-> 00:39:09 |the one in session highs, okay, that that's what I'd like to see. And you're
416 |415 |00:39:09 ~-~-> 00:39:12 |gonna see whatever you see at 930 at the opening bell. I won't even be able to
417 |416 |00:39:12 ~-~-> 00:39:16 |see the chart, so I can't do anything. I'm gonna be away from the house and
418 |417 |00:39:16 ~-~-> 00:39:22 |leave from the ability to see this stuff. So I'm saying to you that, I
419 |418 |00:39:22 ~-~-> 00:39:26 |think, based on what we have right now, if we start to sell off initially, and
420 |419 |00:39:26 ~-~-> 00:39:29 |say we take out this low, then I would look for it to change directions and
421 |420 |00:39:29 ~-~-> 00:39:34 |come back and target the london session high. And that would be what I'm aiming
422 |421 |00:39:34 ~-~-> 00:39:38 |for for the morning session. If I were there at 930 and it started to sell off
423 |422 |00:39:38 ~-~-> 00:39:44 |first, if we open initially at 930 and we're below these relative equal highs,
424 |423 |00:39:44 ~-~-> 00:39:50 |and we're below the london session low. Then I would look for a modest, little,
425 |424 |00:39:50 ~-~-> 00:39:55 |tiny, little Judah swing lower, taking out whatever one minute, short term load
426 |425 |00:39:55 ~-~-> 00:40:00 |it may form between where we're at right now and 930 I would. For something like
427 |426 |00:40:00 ~-~-> 00:40:04 |that. It doesn't need to do that, but I prefer to see that and then rally back
428 |427 |00:40:04 ~-~-> 00:40:10 |up and then attack here. And that would be building on the basis of drawing into
429 |428 |00:40:10 ~-~-> 00:40:18 |that discount gap opening, which half that gap would be 70% likelihood, in my
430 |429 |00:40:18 ~-~-> 00:40:21 |mind, I wouldn't see that half of that gap filled, half of the gap is whatever
431 |430 |00:40:21 ~-~-> 00:40:26 |that 930 opening price is, we don't know it yet. It's right now, 907, so we have
432 |431 |00:40:26 ~-~-> 00:40:32 |23 minutes or so before that happens up to previous regular trading session,
433 |432 |00:40:32 ~-~-> 00:40:38 |hour close on Friday. So that means that that's why I'm leaving at Monday's
434 |433 |00:40:38 ~-~-> 00:40:43 |opening range. Gap high. So long story short, that was a long way. And walk
435 |434 |00:40:43 ~-~-> 00:40:47 |around the barn. I'm looking for these levels to be cleared out this morning.
436 |435 |00:40:47 ~-~-> 00:40:50 |And that would be my, that would be my trade for, for Caleb, I would tell him,
437 |436 |00:40:51 ~-~-> 00:40:55 |focus on that. Use any fair value gap. Use the first presented fair value gap.
438 |437 |00:40:56 ~-~-> 00:41:01 |Try to frame a basis on that being your, your your model for the morning, and if
439 |438 |00:41:01 ~-~-> 00:41:05 |it wins, you be done with it. If you lose, you don't do it again. You sit
440 |439 |00:41:05 ~-~-> 00:41:10 |still. Is that hard? Is it ambiguous? Is that wishy washy? No, that's very, very
441 |440 |00:41:10 ~-~-> 00:41:15 |specific things so, but I've showed you how to build the context around the idea
442 |441 |00:41:15 ~-~-> 00:41:19 |and just simply looking for a short term high here for buy side, that's not
443 |442 |00:41:19 ~-~-> 00:41:24 |enough. Where are the previous session? Highs and lows. And that's here, okay?
444 |443 |00:41:24 ~-~-> 00:41:28 |And we framed it like that. I'll let you take a screenshot. That's it, so you can
445 |444 |00:41:28 ~-~-> 00:41:32 |have it for your notes. Caleb, hold on one second. There you go. All right, and
446 |445 |00:41:32 ~-~-> 00:41:36 |that's going to be it for this morning. I apologize my personal schedule, like I
447 |446 |00:41:36 ~-~-> 00:41:40 |have a lot of things I get done, weather changing and the elections coming up, so
448 |447 |00:41:40 ~-~-> 00:41:43 |I just want to make sure I have all this stuff done, and then I'll be content to
449 |448 |00:41:44 ~-~-> 00:41:48 |hang out with you guys more next week. You know, as we finish our 2024
450 |449 |00:41:48 ~-~-> 00:41:52 |mentorship, have a good day. Be safe, and so I'll talk to you tomorrow. Lord
451 |450 |00:41:52 ~-~-> 00:41:52 |willing. You.
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