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ICT YT - 2024-12-06 - Seek and Destroy Review - NQ December 05 2024

Last modified by Drunk Monkey on 2025-09-27 13:42
1 00:00:03 --> 00:00:06 ICT: Good evening, folks. All right. So, just so you guys know, channels are not
2 00:00:06 --> 00:00:13 getting deleted. It's a gullible All right, so we're looking at the NASDAQ.
3 00:00:13 --> 00:00:20 Is the weekly chart of the NASDAQ, December 2024, delivery contract month.
4 00:00:20 --> 00:00:24 This price run here, just retracing it back in this is what we were noting.
5 00:00:30 --> 00:00:36 Okay, so this was the high if you watch the Sundays pre market before the week
6 00:00:36 --> 00:00:41 started trading. Give you guidance about this is the level I anticipate as an
7 00:00:41 --> 00:00:46 upside once we take out this high. I mentioned that there was a volume about
8 00:00:46 --> 00:00:49 you can note that I wasn't going to do that. We never even worried about that
9 00:00:49 --> 00:00:53 at all. And that's the level. That's where it came from. Okay, so 21,005
10 00:00:54 --> 00:01:01 80.25 if you were following along today on Twitter or x, as it's called now, you
11 00:01:01 --> 00:01:07 heard me on the hurried but yet you read in my posts that this is what I was
12 00:01:07 --> 00:01:14 looking for as a draw later on to did certain things as NASDAQ was opening up
13 00:01:14 --> 00:01:18 in the opening range. So we'll drop down to a daily chart real quick. All right,
14 00:01:18 --> 00:01:23 see the daily chart on NASDAQ. Here's that retracement down in and I'll
15 00:01:23 --> 00:01:27 highlight that so you can see the reference points for the here. Here,
16 00:01:28 --> 00:01:33 once this high is taken out, this is one of the easiest like, I guess it's the
17 00:01:34 --> 00:01:39 quick general rule of thumb. Once a range is broken out, you're going to
18 00:01:39 --> 00:01:48 look for either upside objective, very simple, cut and dry, draw and liquidity,
19 00:01:48 --> 00:01:53 or a frame of reference for potential turtle soup. This is a good general rule
20 00:01:53 --> 00:01:57 of thumb I've used over the years. It's real simple. It's not really based on
21 00:01:57 --> 00:02:02 anything that's in technical books, but one quarter of the beauty range broken
22 00:02:02 --> 00:02:07 out. That's where I think markets can trade to when we're trading with all
23 00:02:07 --> 00:02:14 time highs okay? So you stick with going long until it proves otherwise. Now, so
24 00:02:14 --> 00:02:23 we have had a range in here on the daily chart that is lower on close we need a
25 00:02:23 --> 00:02:26 higher high fail to get to that extension, which is fine. It's not
26 00:02:26 --> 00:02:29 important in the trades there. If you go back and watch my Sunday video, you'll
27 00:02:29 --> 00:02:33 hear me say that it can go as much as this. This is where I would think is
28 00:02:33 --> 00:02:37 reasonable. Okay, so I really wasn't excited about going any further than
29 00:02:37 --> 00:02:41 that. This is just where the threshold would be once we've taken out this high.
30 00:02:41 --> 00:02:45 How high can it go? ICT, well. ICT said on Sunday, before the market started
31 00:02:45 --> 00:02:49 trading 21,005 80 and a quarter, that's about as far as I'd like to see it trade
32 00:02:49 --> 00:02:54 to. Now it could have and can still tomorrow. Nonprofit role could just rip
33 00:02:54 --> 00:02:57 right on through that. That's fine. It's not important for me to to be accurate
34 00:02:57 --> 00:03:03 about that. So we're going to drop down to a 60 minute chart, right? You can see
35 00:03:03 --> 00:03:08 here on the hourly chart for NASDAQ. We traded about that high there, and then
36 00:03:08 --> 00:03:17 again, fell short just below that 21,005 and you went to 21,005 67 and a quarter.
37 00:03:17 --> 00:03:22 You can see that price level here. Then gave up the coastal day and traded
38 00:03:22 --> 00:03:25 lower, taking the sell side in here. So we'll note that,
39 00:03:34 --> 00:03:39 see I traded down to that have a breaker here. It was, high, low, higher, high,
40 00:03:39 --> 00:03:43 down, close, candle in here, trades up into it and then sends it to the sell
41 00:03:43 --> 00:03:49 side. Go into a 15 minute time frame, right? You can see how we had this
42 00:03:49 --> 00:03:55 really fuzzy type price delivery this morning. Let's talk about this in X
43 00:03:55 --> 00:04:01 live. And mentioned how this is problematic and we'd want to see a
44 00:04:01 --> 00:04:08 obvious run at 10 o'clock. That would be an ideal scenario. The market does, in
45 00:04:08 --> 00:04:17 fact, trade outside of the range, high here, right there, at noon. Okay, so we
46 00:04:17 --> 00:04:25 trade above and then the market attacks the cell side and the cell side, right
47 00:04:25 --> 00:04:29 there these relative equal lows. We'll look at that. That was the original
48 00:04:30 --> 00:04:36 basis for why I was looking for 490 as I draw the cell side, and then a rally up
49 00:04:36 --> 00:04:43 towards the 21, 500 AB point two five level, which was the very specific price
50 00:04:43 --> 00:04:47 level I showed you on the weekly chart as an extension should all right. So
51 00:04:47 --> 00:04:52 here's the one minute chart, and I'm showing you the Thursday overnight
52 00:04:54 --> 00:04:59 london session lows. So you can see these two lows in here, in true form. It
53 00:04:59 --> 00:05:04 would be. This, you would probably have your charts annotating that right there.
54 00:05:05 --> 00:05:11 And if you weren't looking at that one, this would be certainly fine. And that
55 00:05:11 --> 00:05:17 was the one I was annotating today. But I called the level 21,004 90. Okay, so
56 00:05:17 --> 00:05:23 that way you can see it follow along with my posts on Twitter or x again, and
57 00:05:24 --> 00:05:27 the market moves away from that. And as we enter
58 00:05:33 --> 00:05:37 the nine o'clock hour, I was talking about how the market was staying inside
59 00:05:37 --> 00:05:44 of this particular candlesticks range, the high and the low. Staying inside
60 00:05:44 --> 00:05:49 that this is problematic, so because of that, I want to see it trade to 10
61 00:05:49 --> 00:05:53 o'clock. So at 10 o'clock, then we'll start watching and seeing what it's
62 00:05:53 --> 00:05:59 going to do for us. But up in here, I I looked at it and said, Okay, well, it
63 00:05:59 --> 00:06:03 looks like we've taken the buy side here. So this is what you'll see, kind
64 00:06:03 --> 00:06:11 of like flesh in and out for you, that is a minor buy side, and this is a minor
65 00:06:11 --> 00:06:12 sell side,
66 00:06:19 --> 00:06:24 meaning buy stops above this high. Cell stops above this, I'm sorry, below this
67 00:06:24 --> 00:06:28 low. And then ultimately the level down here I was aiming for, and then the
68 00:06:28 --> 00:06:35 other level, the upside. These are two primary This is primary buy side. This
69 00:06:35 --> 00:06:46 is primary sell side, minor cell side. And uh, miner, buy side. Okay, so I
70 00:06:46 --> 00:06:53 indicated on Twitter for x again, that I'd like to see the 8am which is this
71 00:06:53 --> 00:06:59 high here. I'd like to see that taken and then trade down to 21,004 90, and
72 00:06:59 --> 00:07:06 then trade in the direction to the 21,005 80 level. Okay, so that was what
73 00:07:06 --> 00:07:11 I gave guidance for this morning. Before it actually happened, market traded up,
74 00:07:12 --> 00:07:16 we broke down the bodies of the candles on this rally up. That was a shift in
75 00:07:16 --> 00:07:21 market structure there. So as the market trades back above this old high you'll
76 00:07:21 --> 00:07:28 see in the recording. I'll add it in this video. The run back above that. I
77 00:07:28 --> 00:07:32 went short, and then we had a an immediate rebalance, where the market
78 00:07:32 --> 00:07:37 trades back up into this low here, I added to it there. The market then
79 00:07:37 --> 00:07:42 attacked this level here. I had several limit orders layered below that in the
80 00:07:42 --> 00:07:48 event that we didn't get down to 21,004 90. And that served me well, because it
81 00:07:48 --> 00:07:52 took two limit orders left one went right down to the price, but the spread
82 00:07:52 --> 00:07:57 wouldn't let me get out on it, and then the remaining four contracts would not
83 00:07:57 --> 00:08:02 be filled there either. So market rallied back up, came back and hit my
84 00:08:02 --> 00:08:10 stop at 526, and I gave guidance on that as well, real time on x, the market then
85 00:08:10 --> 00:08:17 went into range bound consolidation. And then right in here we're gonna look at
86 00:08:17 --> 00:08:21 on a five second chart. But the framework is this, if we look at this
87 00:08:21 --> 00:08:25 little area right in here, highlight that, so that way we'll know what we're
88 00:08:25 --> 00:08:36 referring to all through here. Okay, so we have high, higher, high, higher,
89 00:08:36 --> 00:08:41 high, and then this high, taking out that high. Okay, so in this little range
90 00:08:41 --> 00:08:46 right here, we're going to look at the inefficiency and volume balance that was
91 00:08:46 --> 00:08:49 keyed off of on a five second chart. So I'm going to drop down to a five second
92 00:08:49 --> 00:08:56 chart now. All right, so here's the five second chart on NASDAQ, so you can see
93 00:08:56 --> 00:09:02 we had high, higher, high, higher, high. So I'm going to get rid of this
94 00:09:02 --> 00:09:05 rectangle here, because it's really not serving anything, except for me helping
95 00:09:06 --> 00:09:10 highlight where in the five second chart the time frame was, where the shorts
96 00:09:10 --> 00:09:20 were taken. So in this little area right in here, we watch and see how that's
97 00:09:20 --> 00:09:20 sippy I'm Sibi,
98 00:09:29 --> 00:09:33 see how the bodies are respecting that wicks above it. Yes, that's fine, but
99 00:09:34 --> 00:09:39 the bodies are respecting that. Okay, so when we created that, I went short,
100 00:09:39 --> 00:09:43 aiming for consequent encroachment and volume and balance right in here, and
101 00:09:43 --> 00:09:47 it's a five second chart. So marketing in you're not going to get the perfect
102 00:09:47 --> 00:09:51 entries, and I didn't have time to be doing the orders. Plus, I just want to
103 00:09:51 --> 00:09:55 prove that the orders are being filled with the buy and sell buttons up here,
104 00:09:55 --> 00:09:59 which is what you don't see when you're using Market Replay. I don't use market.
105 00:10:00 --> 00:10:04 Like, and then the market trades lower. It comes back up in and I'm treating
106 00:10:04 --> 00:10:11 this as a premium array, so it's kind of like a reclaimed sell, side amounts by
107 00:10:11 --> 00:10:16 side efficiency. It was used here, and then once more come back above here.
108 00:10:16 --> 00:10:20 Notice the bodies respecting the midpoint, consequent approachment, and
109 00:10:20 --> 00:10:24 then the high. So I saw that, I was like, Okay, this is a bull flag. I know
110 00:10:24 --> 00:10:29 retail is going to want to see that. Want to trade higher off of that. And I
111 00:10:29 --> 00:10:40 faded it, and then used the reclaimed city here. So market breaks down. I want
112 00:10:40 --> 00:10:44 to see it take out this low. It does so aggressively. See all the thin price
113 00:10:44 --> 00:10:48 action in here, whereas it's back and forth, back and forth, even going lower.
114 00:10:48 --> 00:10:52 But here it creates this nice inefficiency. So we come back up in
115 00:10:52 --> 00:10:56 there's two of them always give room for the trip, and the higher one there, and
116 00:10:56 --> 00:11:03 then aggressively sells off into the 21,004 90 level. And you can see that
117 00:11:03 --> 00:11:08 that was the limit order being filled. So I want to make sure I had that done
118 00:11:08 --> 00:11:12 today, because I outlined it. And then this morning I said I'd like to see a
119 00:11:12 --> 00:11:17 trade down into after taking the eight o'clock high, then trade down into 21
120 00:11:17 --> 00:11:26 490 and then slow roll up into 21, 580, direction. So okay, you see these lows
121 00:11:26 --> 00:11:35 right here. That to me with these relative equal lows, and then we have
122 00:11:35 --> 00:11:44 this low to high, low, low or low, low so all these lows are characteristic of
123 00:11:44 --> 00:11:50 a favorable it's a good candidate for sell side liquidity. So that means the
124 00:11:50 --> 00:11:54 nonprofit payroll Friday tomorrow, we could see, if we don't trade
125 00:11:54 --> 00:11:59 aggressively higher, they may want to attack this area in here, if not, Friday
126 00:11:59 --> 00:12:03 may be going into probably part of next week. So that's what I'm expecting,
127 00:12:04 --> 00:12:09 nonprofit payroll Friday tomorrow, and I think that's going to be it again, as a
128 00:12:09 --> 00:12:16 celebration of Bitcoin going to 100,000 I will resume doing forex market reviews
129 00:12:16 --> 00:12:21 on the daily. Again. I'm not doing them right now because it's the holiday and,
130 00:12:21 --> 00:12:24 well, it's Holly season for ICT. Let's put it that way. I'm usually not even
131 00:12:24 --> 00:12:30 looking at the charts, but when we resume the 2025, mentorship on YouTube,
132 00:12:30 --> 00:12:36 all for free every day, I'll be ringing in a forex market review. So I'll cover
133 00:12:36 --> 00:12:44 the pound, dollar, euro, dollar, dollar index, and I'll also do a continuation
134 00:12:44 --> 00:12:49 of index futures, as you're used to seeing now. And then, also I'm going to
135 00:12:49 --> 00:12:53 be ringing in commodity prices, so I'll be looking at the majors in commodity
136 00:12:53 --> 00:12:58 markets and every sector in that so foods, meats, metals, energies, debt
137 00:12:58 --> 00:13:02 instruments, all that business, agricultural. So hopefully you found
138 00:13:02 --> 00:13:05 this insightful, and I'll talk to you again. Be safe. Thank.