ICT YT - 2018-11-27 - ICT Musings On GbpUsd and Bitcoin - Mentorship Level Preview.srt

1
00:00:35,460 --> 00:00:38,760
ICT: All right, Munchkins Long time no see,

2
00:00:51,810 --> 00:01:03,810
we're looking at the British Pound versus the US dollar or as is commonly
referred to in the Forex world cable. So I'm going to kind of use this as a

3
00:01:03,810 --> 00:01:04,650
multi

4
00:01:06,030 --> 00:01:24,180
pronged approach to answering a few questions also respond to a critical
student. And we're going to be looking at the difference in contrast between

5
00:01:24,240 --> 00:01:39,600
those individuals that have studied my work, and have a limited perspective and
very low end experience, but promote themselves as having legend, status or

6
00:01:39,600 --> 00:01:51,930
prowess. And that of the actual perspective that one would have, after he using
it and learning it and authoring it like I have. So there's gonna be a sense of

7
00:01:51,930 --> 00:02:01,530
arrogance in this video. So if that turns you off, you probably want to turn it
off. Okay? Because I'm going to speak in terms that are just blunt. And I don't

8
00:02:01,530 --> 00:02:13,470
expect you to like me for and I don't want handshakes and high fives on Twitter
for it. I just have to speak my mind. Because it's time. So I asked a lot of

9
00:02:13,470 --> 00:02:30,630
times on Twitter, by way of an acronym of WYD s question mark. And that is
simply a prompt, by me. For those that follow my Twitter, if I share a tweet,

10
00:02:30,720 --> 00:02:48,840
and it's including a chart, or I suggest a reference point of the NASA class or
a timeframe, and I include WDY s, what do you see? I'm asking you to consider

11
00:02:49,020 --> 00:02:59,100
what is either happened, or what is now in place in price action. So I'm going
to use that model here initially in the video and ask you what do you see. Now

12
00:02:59,100 --> 00:03:09,720
this is against an hourly chart of cable. But I want you to look at what we
have. And some of you are going to cheat and look at what's happened today, at

13
00:03:09,720 --> 00:03:22,020
the time of this recording, November 27 2018, approximately eight minutes before
8am New York time. But don't do that. study what you see here, pause the video

14
00:03:23,040 --> 00:03:38,430
and consider what you would consider being a likely scenario given the market
action that's shown here. Okay, I'm gonna assume you paused. If you didn't, you,

15
00:03:38,490 --> 00:03:50,550
you should do it right now. Because I'm going to talk about things that will
kill the whole opportunity for you to learn. Alright, so there's a large body of

16
00:03:50,640 --> 00:04:01,890
folks that are using my work now. And I'm flattered by that. And I'm aware that
it's reached a lot of folks in different continents and countries. And it's,

17
00:04:02,400 --> 00:04:13,800
it's amazing to see how far my stuff has gone. But unfortunately, there's some
that have cropped up and have tried to make a name for themselves at my expense.

18
00:04:14,040 --> 00:04:26,670
But to me, it's hard to make a name for yourself, if you're going to be
inconsistent. So I see if the moments that you say the hardest, most critical

19
00:04:26,670 --> 00:04:39,450
statements about me, or my concepts, or the lack thereof, in terms of what I'm
able to show what I do show, a lot of the things that you experienced online is

20
00:04:39,660 --> 00:04:52,320
very filtered. And I put a lot of chatter on Twitter, because I want my readers
to be highly skeptical, because once you come into the fold, and you really

21
00:04:52,320 --> 00:05:02,280
experience the learning, it's that much more of a profound aha moment. You
really feel like you've arrived so So it's all part of the entertainment aspect,

22
00:05:02,280 --> 00:05:12,570
the carnival barker, it's in me that kind of like works up the crowd into a
frenzy. And if they're weak minded and they leave, that's exactly what I wanted.

23
00:05:13,290 --> 00:05:23,490
But if you're intrigued and you want to dig a little bit deeper, that's always
rewarded. Okay, so with all that said, as a preamble, I want you to consider

24
00:05:25,260 --> 00:05:28,560
what has taken place over here.

25
00:05:32,880 --> 00:05:43,590
Okay, so mentorship folks can rest assure that everything I'm showing here, it's
all hindsight now. So there's no benefit to those outside of mentorship, except

26
00:05:43,590 --> 00:05:53,340
for just a simple, I told you so. Okay, so everyone in the mentorship,
obviously, you know, over 11,000 people now have seen this before happened.

27
00:05:53,430 --> 00:06:01,110
Okay, I explained it, I'll give you two clips, where you actually see me tell
you this in the mentorship. So I'm going to give you a little soundbite some

28
00:06:01,110 --> 00:06:13,350
video clips, of what actually said, and those in their mentorship can call me a
liar if I'm not showing you exactly what was shown in mentorship. Okay, so we

29
00:06:13,350 --> 00:06:23,100
have equal highs in here, the work was done here, two runs, one, the liquidity
the buy, stocks were taken. And then price traded lower left, these equal lows

30
00:06:23,100 --> 00:06:34,530
intact, rallied up failed to go any higher than this hot here. Why, why they
fail here. Because the work was already done over here. There's rarely and I'm

31
00:06:34,980 --> 00:06:46,620
underscoring that and holding my fingers up like quotations. Rarely an instance
where we have a stop run, and then another stock run, and then go lower. If it

32
00:06:46,620 --> 00:06:57,300
does, this is a freebie. If it ever shows a run again on another high and then
breaks down, you really have a dead ringer, it's going to probably be an

33
00:06:57,300 --> 00:07:06,960
explosive move. In this case, it would be a large extrapolate move to the
downside. Once the price action breaks down, we don't need to know that it's

34
00:07:06,960 --> 00:07:18,540
going to go down here we don't need to know that it's going to go down here. We
wait for price to Tibbets hand. Now, truth be told, I had told the mentorship

35
00:07:18,630 --> 00:07:35,370
students to be careful with cable cable is going to be a very reactive and
responsive to Brexit related news. When price action presented something very

36
00:07:36,090 --> 00:07:49,320
generic very run of the mill, if you will, it's very easy then to step in. But
when it's unclear, or when there's a lot of risk around a specific market or

37
00:07:49,320 --> 00:07:59,940
pair, it's best to stand back and just wait. Now a novice will run in and assume
right away that they have it figured out it's it's one sided, it's going to be

38
00:07:59,940 --> 00:08:13,140
this or it's that and the wise will will sit back and wait for more insight, the
impatience of of a novice or those that lack experience. They may talk like me,

39
00:08:13,170 --> 00:08:22,440
they may use my vernacular, they may talk the things that I say and repeat them
in verbatim and make it sound like they were the ones that created that idea.

40
00:08:22,650 --> 00:08:29,370
Okay, but it's really just regurgitation of everything that I've ever said in
video. I guess if you listen to videos over and over and over again, I'm

41
00:08:29,370 --> 00:08:39,240
brainwashing you to eventually start talking like me, that's not my goal. But
those that try to promote themselves. They all sound like me, but very few and

42
00:08:39,240 --> 00:08:51,060
far between are able to actually deliver with the concepts. Okay, so I'm kind of
like poking you to kind of like, weigh these folks out, weigh them, okay?

43
00:08:51,060 --> 00:09:03,840
Because just because they can talk about what's already happened and use my
vocabulary in my terms, it to a novice, okay, or neophyte, that's watching them.

44
00:09:04,260 --> 00:09:12,660
They're enamored by that. They feel like, wow, this guy has it all figured out.
And I need to be paying attention. But then when you start falling going

45
00:09:12,660 --> 00:09:20,820
forward, or even looking at their examples about what they think is going to
happen, they fall on their face. And that's what I do. In one particular there's

46
00:09:20,820 --> 00:09:29,310
a ex student of mine that I watch, and I use as a sentiment gauge. Everything
that this young man thinks he's doing, I'm fading that and if you look at the

47
00:09:29,310 --> 00:09:43,440
mentorship, it's exactly as simple as that. Because hot shots, okay, are the
best sentiment gauge. Those that think they're the hot shot of a market or they

48
00:09:43,440 --> 00:09:55,710
haven't figured out yet all those types of things, promote this false sense of
security. And that illusion. Over time that you're feeding spectators that are

49
00:09:55,710 --> 00:10:03,570
watching you, you end up eventually believing your own bullshit and I think
that's What's happened with this young man, but I, I'm taking advantage of it

50
00:10:03,570 --> 00:10:12,240
because I know that that's a perfect sentiment gauge. And he's proven thus far
to be almost like a 90%. fade. So

51
00:10:12,929 --> 00:10:26,399
if we're looking at cable in respect to what could happen, what scenarios may
unfold for future price moves, you have to have a storyline behind it. Okay, and

52
00:10:26,849 --> 00:10:36,569
the folks that study my work, they go right in anyone look at order blocks, like
that's going to be the panacea. That's the, that's the magic bullet. And it's

53
00:10:36,569 --> 00:10:45,569
just one more element to a larger hole that you have to understand. So it's not
a matter of what order block should I have? Because I figured that out on know

54
00:10:45,569 --> 00:10:54,419
when to buy when to sell? No, that's not that's not what it is. You need to know
what the narrative is behind price action, you have to have a higher timeframe

55
00:10:54,449 --> 00:11:06,179
premise in mind, that means what is likely to occur from a directional
standpoint, now, there are some that will promote the idea of the absence of a

56
00:11:06,179 --> 00:11:15,749
bias is the purest form of trading. And I would counter that with that's
bullshit. So those individuals that say they don't need a bias are the ones that

57
00:11:15,749 --> 00:11:25,589
can't derive a bias. So it stands to reason that if that's the case, and that's
their belief, then it's very telling about their ability or lack thereof, in

58
00:11:25,589 --> 00:11:40,169
terms of analysis. So the whole basis of profiting, okay or the hopes there of a
profiting has to come on the heels of move movement and volatility. If we step

59
00:11:40,169 --> 00:11:50,639
into this arena as a trader, or an analyst, even, and we assume that we are
going to be profitable, or have hopes that we're going to be profitable, we have

60
00:11:50,639 --> 00:12:04,919
to have a measure of prognostication. And without a bias, that's unachievable.
It can't be reached. So if someone says, Well, I don't, I don't try to form a

61
00:12:04,919 --> 00:12:14,009
bias, I just trade this or that, well, you got to have a bias. Are you bullish
or bearish, you have to start somewhere. And that's always derived from a higher

62
00:12:14,009 --> 00:12:23,849
timeframe. Good. Go to combination via weekly and daily. And the longer you
spend time on those higher timeframes, the more you'll probably talk yourself

63
00:12:23,849 --> 00:12:32,459
out of the bias, the most obvious one that occurs by studying weekly and daily,
that direction, whether it be bullish or bearish, just go with that and stick

64
00:12:32,459 --> 00:12:40,649
with it. So with all that I've done free tutorials where you can do that I'm not
going to rehash that. And I'll try to do a whole synopsis on one bias here, but

65
00:12:41,609 --> 00:12:49,439
assuming, and I'm taking a great deal of liberty here because I know some of you
are going to say, Well, how do I do this and how to do that my response would

66
00:12:49,439 --> 00:12:59,579
be, go through all my free videos on the website, the inner circle trader.com,
you have to register your account. I been backed up recently with emails and

67
00:12:59,579 --> 00:13:09,749
such, but every few days or so I'll go in and see if new accounts have been
started or waiting for registration approval and then approve them, then you can

68
00:13:09,749 --> 00:13:18,809
go in and see my free tutorials. You're all looking for market maker videos,
they're in the free form, I won't put them on YouTube. And when people try to

69
00:13:18,809 --> 00:13:27,239
upload them, I get a flag and it tells me and I tell you to to take it down
because I don't want that on YouTube. It's all free. You guys can come into my

70
00:13:27,239 --> 00:13:35,639
free forum and see it but it's not in China. Like I'm hiding it from you. I just
don't want it on YouTube because you know that they're gonna make money off ads

71
00:13:35,639 --> 00:13:46,109
and I don't want money made off of that. I can make a whole lot of money with
it, but I don't want to so the point is, when we're looking at price, we want to

72
00:13:46,109 --> 00:13:56,879
number one, understand the narrative, what's the storyline from a higher
timeframe and then start looking for evidences and clues as to what price may do

73
00:13:56,879 --> 00:14:08,819
next. So here we have this whole bit of price action ring in here. This starts
our narrative Okay, they ran by stops why would the market run by stops because

74
00:14:08,819 --> 00:14:21,209
it wants to go lower or they want to offset old Long's so it's a profitable
exit. Well, prior to this whole business here what was priced doing trading

75
00:14:21,209 --> 00:14:32,969
lower. So at the retracement, we clear some highs here so there's buy stops
here. Buy stops here. Buy stops here large liquidity pool ran out. tries to run

76
00:14:32,969 --> 00:14:37,469
one more time. Bull flag traders see that think okay, it's going to go higher
now.

77
00:14:39,210 --> 00:14:49,890
Fibonacci retracement guys they see this maybe even falsely assume that it's a
optimal trade entry for a long wrong the narrative is they ran by stops in an

78
00:14:49,890 --> 00:14:59,970
existing downtrend. Okay or institutional order flow in this case would be
deemed bearish. So we're focusing on the sell side of the marketplace. We're

79
00:15:00,000 --> 00:15:11,610
Looking for lower prices, any rallies, okay, or future runs on buy stops, should
offer favorable shorting opportunities. So we have this quick decline here,

80
00:15:11,790 --> 00:15:21,870
okay, and those individuals that study my work, they will assume that this is an
efficiency, and they're going to look for that to be filled in all through here.

81
00:15:22,260 --> 00:15:37,560
Okay. And that's when we're going to get into the lack of experience. Because
when people do this, this is what they end up coming away with, they see this,

82
00:15:37,650 --> 00:15:53,730
okay, and they assume that it's going to fill and arrogance will step in. Some
ego minded, you know, impulse will force them to get online, share something

83
00:15:54,210 --> 00:16:17,880
tweeted, and wait to feel like they're smart. And only after it runs up in here,
okay. So all this price action here was another layer, and a larger layer of by

84
00:16:17,880 --> 00:16:30,600
side liquidity, numbers by stops. So we had this whole section of retail
resistance, price starts to drop down, drops down a bit lower, cross a little

85
00:16:30,600 --> 00:16:41,070
bit lower, and then runs all the way up into this level here. And I'll talk
about the elements and prove that I already expected this to happen anyway, by

86
00:16:41,070 --> 00:16:51,240
way of video. And again, I have 11,000 people, that'll call me a liar. If I'm
saying what I'm saying in this video is untrue. But up here, there's nothing

87
00:16:51,240 --> 00:17:06,150
inefficient up here. Okay, so this whole business filming, that is not going to
happen, because it's already been done. Over here. I introduced a concept called

88
00:17:06,330 --> 00:17:19,140
the ice breaker. And some people understand it, some people think they
understand it and make videos and, you know, teaching groups, but they really

89
00:17:19,170 --> 00:17:27,660
don't have a firm grasp on it. Sometimes they got it, sometimes they don't. But
to understand the breaker, you have to understand take a step back away from

90
00:17:27,660 --> 00:17:37,590
price action, from a technical standpoint. And just think in terms of order
flow. Now, I'm not talking about depth of market or, or ladders or anything like

91
00:17:37,590 --> 00:17:47,910
that. I'm talking about just the storyline. This is what you do with your
downtime on the weekends, you want to go through past price action, and see what

92
00:17:47,910 --> 00:17:58,800
examples took place on a 15 minute and an hourly basis on any asset class or any
market. If you do this every single week, spend about 30 minutes doing it, make

93
00:17:58,800 --> 00:18:07,080
notations on your charts and say, Okay, well, like I just did here earlier, you
know, these highs drawn out as equal, with his old high back here, price ran

94
00:18:07,080 --> 00:18:20,790
that if you start studying this, okay, I saw all these things back in the 90s.
And it wasn't until I was approached by people that are in the realm of making

95
00:18:20,790 --> 00:18:35,040
markets, okay. And I bridged what was potentially able to be used as a career
for me as a market maker. But I declined on all that I didn't want to do any of

96
00:18:35,040 --> 00:18:47,220
that. Because I had figured out what the missing piece was. I took what was
offered as real market making concepts, which is completely void, anything you

97
00:18:47,220 --> 00:18:54,930
see on YouTube that has market makers attached to it. This basically bullshit,
okay, none of that's market maker, nothing. It's none of its market maker.

98
00:18:55,650 --> 00:19:04,590
Everything that I teach is absolutely market making concepts. And it's proven
because I'm the only one that's doing this consistently every single week, to

99
00:19:04,590 --> 00:19:14,940
the PIP every single week. Everyone else, they have all these things, these have
these gadgets and little things around the chart. soon as you start doing that

100
00:19:14,970 --> 00:19:24,210
you'll take away the whole effects of market making because market making has
nothing to do with indicators. It has nothing to do with anything except for the

101
00:19:24,210 --> 00:19:34,680
open high low and close price delivery. That's it, that's all it is. Okay,
liquidity and price delivery. So the third aspect of that is time so it's time

102
00:19:34,680 --> 00:19:35,310
price theory.

103
00:19:36,630 --> 00:19:52,710
If we can see that this down closed candle is the bearish breaker. Okay, it's
the down closed candle right before run up clearing highs. So our I need to go

104
00:19:52,710 --> 00:20:03,930
right to that. So anyone that's starting to look at this over here and say this
is got to be filled. Okay? Or filmi bitch, they're completely clueless, they

105
00:20:03,930 --> 00:20:13,740
have no idea what they're doing. And they don't understand my concepts. If we
can see inside this block of price action written here, now I say block because

106
00:20:13,740 --> 00:20:32,220
it's basically a big square. Okay, and all of this price action in here. There
is essentially, one big consolidation where the work has been done. What work is

107
00:20:32,220 --> 00:20:44,310
that Michael, they ran the stops on the buy stops. Okay, so the market is
primed. Now, to go lower. That's this move here. All we have to do is go inside

108
00:20:44,310 --> 00:20:53,490
of this range, and I use the low here in the high here. Now if we're doing like
Fibonacci work, you saw my free tutorials where you can use the bodies of the

109
00:20:53,490 --> 00:21:04,170
candles and get a more close depiction of where the Fibonacci should be
sensitive to. Okay, and overlap that with institutional pricing. But necessary

110
00:21:04,470 --> 00:21:10,320
regard. We're looking at that range here.

111
00:21:15,870 --> 00:21:26,640
Okay, so I have a measurement already here of equilibrium. That's what's showing
right here. And equilibrium on this field is just basically 50% level. And I got

112
00:21:26,640 --> 00:21:39,780
a tweet to me this one I didn't respond to, but I'll say the answer to it here.
I'm certainly republican to watch this video. The 50% level is basically fair

113
00:21:39,780 --> 00:21:54,060
value. Okay, when prices retrace back to a 50% basis of any previous swing,
generally, there is a bounce of some sort. But if you add context to it, like

114
00:21:54,060 --> 00:22:03,240
I'm showing you here and teaching, the element of price narrative, and which is
a real market making concept, and you don't see that on YouTube, Martin Cole

115
00:22:03,240 --> 00:22:11,400
doesn't talk about it. Steve Morrow doesn't talk about it. Because these guys
studied all my old stuff, and rehash it and create all kinds of horseshit out of

116
00:22:11,400 --> 00:22:27,480
it. So long and short. equilibrium is 50%. And if you go back to that level,
expect some recapitalisation in the form of whatever existed prior, okay,

117
00:22:27,480 --> 00:22:36,570
whatever was before, in terms of price movement, it will probably continue at
that point in that same direction. In other words, it'll create a support

118
00:22:36,570 --> 00:22:55,500
resistance theory. So we have this level here. Okay, so we have 128 79,
essentially, so if we have that level based on the fib, okay, I'm going to take

119
00:22:55,500 --> 00:23:08,130
the fib off, because you don't need it now. So we have 129 79. So what level was
that essentially in terms of institutional pricing 129 80. So if we calibrate

120
00:23:08,130 --> 00:23:19,590
that to 129 80, that's a price that's should be sensitive anyway, by itself. Now
we add to it that we have a equilibrium price point inside of this

121
00:23:19,770 --> 00:23:35,370
consolidation. Now we can ring in our fib. And I'll explain what I'm going to do
here in a minute. Draw the fib from that level down. This is where Fibonacci

122
00:23:35,610 --> 00:23:48,240
becomes magic. If you take the ad level drop down to the low, that's our working
range, okay, that's where we can get an optimal trade entry. That's where we can

123
00:23:48,240 --> 00:23:59,820
look for price to reach up into and not up into here, this does not need to be
filled, because it's already been balanced. Okay, this whole run up, it's done

124
00:23:59,820 --> 00:24:08,430
its work, it's random by stops, there's no necessity for it to come back up in
here and fill that. In fact, if price goes up into that, it's far less likely to

125
00:24:08,430 --> 00:24:18,870
trade low or because it's gone back above what would be deemed requirement for
mitigation. mitigation is going to be done in here anything was taken long here.

126
00:24:19,710 --> 00:24:33,870
If so, facilitate around on in house liquidity for like a broker or a liquidity
provider, they will have to exit that those positions many times if the price

127
00:24:33,870 --> 00:24:44,700
moves quickly like this, they may not have the opportunity to unwind those
Long's they had here, because they may be offering or making a book for sellers.

128
00:24:45,240 --> 00:24:56,160
So if a large body of liquidity is looking to sell this particular pair, the
liquidity provider or the broker, they may have to operate in house as a

129
00:24:56,160 --> 00:25:06,570
liquidity provider and take the buy side of that. So they can now mitigate this
entry here at a later time when it trades back up to this price point, which is

130
00:25:06,570 --> 00:25:16,530
the bearish breaker. So we have this window or optimal trade entry right in
here. Now I'm going to do is draw this out just a little bit so you can see the

131
00:25:16,530 --> 00:25:31,380
overlap right there. So we have optimal trade entry. You can see it here. This
is basically this is 79%, tradesmen level and a 60 62% retracement level. If we

132
00:25:31,380 --> 00:25:36,240
have that. And I add a

133
00:25:57,720 --> 00:26:18,480
let's go with a different shade of orange. All right. So now once we have this,
this no longer is the novice view, this is the informed view with my concepts.

134
00:26:18,690 --> 00:26:30,390
So did naive aspect of looking at price has now been removed. We have a
liquidity pool and form of buy stocks resting here. The narrative is they've

135
00:26:30,390 --> 00:26:43,950
already ran stops over here. So any rally above to take these stops should be
what song opportunity, okay. And we can calibrate that to 129 30 was where it

136
00:26:43,950 --> 00:26:57,090
can reach up to as a 75% tradesmen level, the low end takes us into basically
this old high. So the high comes in 2885, which is a five level great, you can

137
00:26:57,120 --> 00:27:12,660
be aggressive, and look to see it trade the midpoint, okay, which would be like
70.5 level, that's my sweet spot for optimal trade entry. Again, it's 70.5. And

138
00:27:12,750 --> 00:27:22,860
if that trades to that price level, in this case, it would be approximately
120 905. or very close to it. Or it basically you can be a seller at 129. Big

139
00:27:22,860 --> 00:27:32,610
figure, anything above 129 big figure is a bonus. Okay, but you have to consider
this for your entry and where your stop loss would be in relationship to that

140
00:27:33,840 --> 00:27:47,460
formation and price. So we have an overlap of the breaker here at 1.9 19. That's
this body here on this down close candle. We also have the equilibrium as the

141
00:27:47,460 --> 00:27:56,580
anchor point, because why am I drawing it from here? Because I already know what
you're asking me, I can read your mind the element of needing to come back to

142
00:27:56,580 --> 00:28:08,220
that price point. Okay, after we've had this breaker, it's highly unlikely if we
would have had no breaker in here and it was just consolidation and lower highs,

143
00:28:08,610 --> 00:28:17,190
then the equilibrium price point would probably be reached up into and then
lower prices would be in order or would be reasonable. Okay. That's the reason

144
00:28:17,190 --> 00:28:26,130
why the equilibrium price point here is not going to be a magnet or draw on
liquidity. It's going to be an anchor point. Okay, so I know all this sounds

145
00:28:26,130 --> 00:28:38,220
like hindsight, but trust me, I'm going to show you the videos where it was
explained before it all happen. So we have this rally up in here. And you part

146
00:28:38,220 --> 00:28:50,550
two, so you can see it a little bit better. There we are. So this run here is a
run on the bizstats. We see this. We're looking to go short. Sell it, where's it

147
00:28:50,550 --> 00:29:01,470
going to reach for? Well, we have all these equal lows in here. There's a
liquidity pool resting right below that. And also right there, what's the open

148
00:29:01,470 --> 00:29:19,140
on that? 127 49 k 127 49 if prices above that open, as it will be here. And it's
expected to trade down to that what's the nearest institutional price level to

149
00:29:19,140 --> 00:29:37,350
that? 127 50 right. Look at the open again. 127 49 and if price is above that
coming down to it because price very well could bounce there and create an

150
00:29:37,350 --> 00:29:51,390
opportunity to go long. I'm using this as a framework as an anchor point for
draw on liquidity. It's acting as a magnet now. The order block of 127 50 is

151
00:29:51,390 --> 00:30:15,120
where you would look for price to go to So now we've framed the market with
institutional reform, the Smart Money view of what should take place the runs on

152
00:30:15,120 --> 00:30:20,520
liquidity, coupling that with the narrative, then we have basically, the

153
00:30:21,780 --> 00:30:30,150
basis of institutional order flow really, everything is in place now for to go
lower. Now all you do is look for an entry pattern, entry pattern could be a

154
00:30:30,150 --> 00:30:41,250
rung above the opening on a daily, or it could be a break down waiting for that
and then trade up into a bearish Orbach. We're looking at an hourly chart here.

155
00:30:42,120 --> 00:30:50,820
And it's at this moment here, you could be a seller, right at that, because it's
hitting the 60% tradesmen level. And we've already done the work of retracing

156
00:30:50,820 --> 00:31:01,170
back up in here, we hit the breaker, all of this isn't going to need to be
filled, that's not a that's not a void in liquidity. Okay, folks that think this

157
00:31:01,170 --> 00:31:09,510
is a void, don't understand my concepts, they only watched a couple free
tutorials, and didn't pay attention in class and the results show it. But they

158
00:31:09,510 --> 00:31:18,810
could be a seller here. And your stock could be right above this. Now, because
the work has been done. It's now is a good, reasonable location for a stop. So

159
00:31:18,810 --> 00:31:29,070
you could be a seller here. And a stop here, again, is the hourly chart. So it's
kind of like a swing trade idea. Price manage a little bit stays in here bumps

160
00:31:29,070 --> 00:31:40,350
it again, at the OT. And now we have a breakdown. Now this is what I was saying.
You don't have to have the the Moxie to get in here. And trade short here, you

161
00:31:40,350 --> 00:31:49,560
don't need that everyone else is gonna see that as a bull flag. Wait for it to
come down, show willingness to want to decline. Here's your upclose candle. This

162
00:31:49,560 --> 00:31:59,340
is going to be a bearish order block, wait for the trade back to it. That's
here. Okay, it hits it bumps into it. Right there. That's where your short could

163
00:31:59,340 --> 00:32:07,380
be. That's a very, very low risk sell. Now, you're probably thinking, Well, wait
a minute, isn't this equal highs? And if I sold here, how do I know it's not

164
00:32:07,380 --> 00:32:17,190
gonna come up in here? I just explained everything to you. All the work has been
done here. And all the works been done here. They've already ran stops here. All

165
00:32:17,190 --> 00:32:31,050
this is is a false context of forming pseudo continuation patterns, in this case
would be a bull flag. Price comes right back up on this candle here. It opens

166
00:32:31,080 --> 00:32:43,410
trades up into this candle over here. Now what time of the day is this? That's
one enclose. So one enclosed is not always the cap on the daily range. Sometimes

167
00:32:43,410 --> 00:32:56,010
it's a continuation. What's the continuation don't lower. So we have opportunity
go short rated on the close. Hold, what are we holding for 2750. Now, I want to

168
00:32:56,010 --> 00:33:02,580
learn how to get in here I just showed you. I want to learn how to get up in
here before it breaks down I just showed you. I want to get in when it's wrote

169
00:33:02,580 --> 00:33:11,430
really low risk. And I can see with a great deal more confirmation. But I'm
willing to give up a little bit of the better pricing I just showed you. Their

170
00:33:11,430 --> 00:33:29,010
shoulder block. Okay, so your ranges here to here. That's my weekly range. I'm
looking for 75 to 50 pips, that's what this is. So if we have a run rate in

171
00:33:29,010 --> 00:33:39,750
here, back up to this level, it's going to unnerve some, okay, but your stop
loss can be right above here, you don't need to have to worry about that. Yes.

172
00:33:39,780 --> 00:33:48,930
And a swing trade basis, this is going to unsettle some of you that that's not
going to unsettle those individuals that know where their stop should be

173
00:33:48,930 --> 00:34:04,110
relative to the narrative that's been priced in prices now make one more time to
clear by stops, by stops, we consolidated and ultimately smashed down where they

174
00:34:04,110 --> 00:34:14,940
reach for 127 50. So if the liquidity is going to be attacked around that mid
figure, they have to sweep below it a little bit as well, because everyone has a

175
00:34:14,940 --> 00:34:25,740
spread. So if we look at the low that formed the lowest low form today was 2735.
So we went 15 pips below that for good measure. So we dipped handsomely inside

176
00:34:25,740 --> 00:34:37,200
of this last enclosed candle or bullish order block, and you can see the
subsequent response there are. So if we know that's the narrative now we can

177
00:34:37,200 --> 00:34:57,810
apply institutional levels in concert with what was this explained in this video
thus far. Notice how we traded to the 20 level. We hung around the 80 level

178
00:34:58,170 --> 00:35:11,490
broke away from it came down to the big figure trader to mid figure traded down
consolidated around the 20 level 20 acted as resistance, and then reached for

179
00:35:11,850 --> 00:35:18,030
the 50 level, paused briefly around the 80, but reached for the 2750 minute
figure.

180
00:35:19,710 --> 00:35:30,570
No, notice how every single turning point is occurring at an institutional price
level. This is what I taught back in 2010, for free on baby pips. Everything

181
00:35:30,570 --> 00:35:42,540
that I just explained to you with cable was the basis of why I said in response
to those inquiring about cable in my mentorship. Now with that said, let's go

182
00:35:42,540 --> 00:35:52,320
and watch what was talked about before the back. So mentorship, I'm giving a
small little segment of what I talked about in the last few weeks relative to

183
00:35:52,320 --> 00:36:04,200
cable. And again, if this is not what was shown, you have my permission to call
me a blatant liar on Twitter. We have equal highs in here. And I think that this

184
00:36:04,200 --> 00:36:20,280
punch up was just a fake drive. And I think why not going lower as a result, not
the Judas. And there you go, there's our equal highs. So I want to see it,

185
00:36:20,280 --> 00:36:31,050
reject that and go lower and make an attack on the sell side of the marketplace.
But if we rally through and take out this high, that puts everything on this

186
00:36:31,050 --> 00:36:41,580
mentioned on the backburner and want to take things a different direction at
that point. But as long as they stay below this swing high. I'm bearish on cable

187
00:36:42,030 --> 00:36:55,560
weather expansion, clear to start out here. And I say they would roll over not
go up. Folks that think they understand a few things from my mentorship or the

188
00:36:56,130 --> 00:37:12,660
free tutorials. They were looking for this area here to quote unquote, fill in,
disregarding this whole candle right here, breaker. If we take that and add that

189
00:37:12,660 --> 00:37:13,260
to

190
00:37:19,050 --> 00:37:27,120
the mix, you'll see why I was suggesting that we were going to roll over and
notice what I'm doing. I'm telling you what's going to happen before happens.

191
00:37:27,450 --> 00:37:35,010
Then I'm going back in and tell you the reasons why. Why. Because it's a couple
guy who's in here. Okay, you're running your own groups. And I'm not going to

192
00:37:35,010 --> 00:37:43,530
give you all the details. You have to work it out on your own if you're selling
analysis. I mean, that was nothing but love, obviously. Wink wink nudge nudge.

193
00:37:43,830 --> 00:37:55,380
So we have Farish breaker, right in here. And this is not going to need to be
filled in. Okay, because we have a liquidity pool here with a breaker right

194
00:37:55,380 --> 00:38:06,990
there. So what's going to stop price and while we have heavy liquidity here,
triple top type thing, we call it, retail resistance of how I see it. So there's

195
00:38:06,990 --> 00:38:15,120
gonna be traders that want to go short cable, you're going to feel comfortable
putting their stop loss rate above there, but immediately the left. Got to go

196
00:38:15,120 --> 00:38:25,140
back inside institution order flow, there's your breaker. Okay, so the algorithm
if that will go back to that price. Trade right back into it, the high comes in

197
00:38:25,140 --> 00:38:40,440
at 129 29. Okay, so it's five pips, or four pips rather, above 120 and 25.
handsomely delivered, and then aggressively sold off, down to the big finger. I

198
00:38:40,440 --> 00:38:52,680
think they're selling a narrative that 128 is support. Don't trust that heavy
liquidity resting below here. And over here, okay, so I think that we'll see

199
00:38:52,680 --> 00:39:03,840
that firmer on the dollar, and then run on liquidity down here. And at the very
least, I think we should try to run this out. Up here, it looks like it's done

200
00:39:03,840 --> 00:39:12,660
its work as far as rebalancing, I don't think there's any necessity for it to go
any higher relative to what's shown right now. So the draw on liquidity, I

201
00:39:12,660 --> 00:39:30,660
believe, is 127 60 to 127 58. We get an expansion 127 20. Okay, so there's our
things do have our notations and study that this week cable. So there you have

202
00:39:30,660 --> 00:39:40,500
it, that's what it looks like when you're inside the mentorship. How I explain
the market, what I think is going to happen. I do go both ways in terms of my

203
00:39:40,500 --> 00:39:49,530
analysis, but I tell you specifically, what side of the marketplace I'm
favoring, and also explain what negates that idea or premise. So it's not like

204
00:39:49,530 --> 00:39:58,500
I'm playing both sides and saying, See, I told you so. I'm telling you, what I
believe is going to happen, but what would also next the whole trade. Okay, so

205
00:39:59,370 --> 00:40:12,870
you can see Price did in fact deliver as we expected in mentorship 127 50 was
hit. If we do see any further downside, we could see, for instance, all of this

206
00:40:12,870 --> 00:40:24,720
price action here could act as a base of liquidity for new shorts accumulating,
and then make a run to that 127 20 will happen. I don't know. But this is enough

207
00:40:24,720 --> 00:40:35,670
for me to do one shot one kill. And it's all it's necessary. 80 pips in the bag,
easy, easy, easy trading, simple stuff using liquidity, everything outside of

208
00:40:35,670 --> 00:40:47,340
candlesticks, okay, everything is outside of the, the order block, it's outside
of technical analysis. It's all liquidity in order flow. That's it. My

209
00:40:47,340 --> 00:40:57,690
institutional order flow is not what is bandied about as order flow. in retail
circles, they try to say that they aren't retail, but they really are retail,

210
00:40:57,690 --> 00:41:07,020
because they're looking at things that retail is looking at. And I'm looking at
where your stops are. And your stops are exactly where large funds are in large

211
00:41:07,020 --> 00:41:18,390
one stops. That's where the market goes to. Okay, so, hope you found that
insightful. I want to go over to the Bitcoin market, talk a little bit about

212
00:41:18,390 --> 00:41:32,100
that and close this video up. That's a horror story for you. Look at that.
Alright, so just want to give credit to my wife, she helped me call the topic 19

213
00:41:32,100 --> 00:41:42,420
seven. Good things, you don't want these videos. Hi, guys. So anyway, deleting
the music, I'm terrible. Alright, so it's it's a running gag my wife and I have.

214
00:41:42,540 --> 00:41:55,890
So anyway, the Bitcoin market, you can see, obviously, we've left our multi
month consolidation on the downside, drawing attention to this old low, and his

215
00:41:55,890 --> 00:42:05,700
old high back here in his old high back here. So from a classic support
resistance theory, this would be deemed the next level of support. Therefore,

216
00:42:05,730 --> 00:42:08,490
there's a lot of talk about

217
00:42:10,320 --> 00:42:23,970
the potential to see 3000 as the next buy. And I agree that 3000 could see some
measure of buying, but I think it's going to be in the form of profit taking.

218
00:42:24,390 --> 00:42:35,370
But we still could go a little bit lower, more specifically right below this low
here. I think the liquidity resting below that in the range of about 500 points

219
00:42:35,370 --> 00:42:44,910
or so which would take us to about 2500. That's the reason why I tweeted, I
thought that 2500 could be interesting, would prove interesting to see if we get

220
00:42:44,910 --> 00:42:55,710
down here. If we get some acceleration beyond 2500, then we really have to
consider over here, the liquidity resting below these lows, they would take us

221
00:42:55,710 --> 00:43:14,430
primarily all the way back down to the level seen over here. All right, so let's
go into a tighter view on a daily and they'll drop into an hourly. Okay, and I

222
00:43:14,430 --> 00:43:31,140
use daily FX for any crypto discussions. Because that's what I'm familiar with.
I don't like trading view as a general medium. And there's a lot of people that

223
00:43:31,140 --> 00:43:43,260
like it. I'm just not I'm very clumsy with it. And I just don't feel I don't
feel comfortable using it. Not that it's any less effective. For those that do

224
00:43:43,260 --> 00:43:54,120
use it. There's no rule. platform that's one better than the other. Alright, so
how I'm a dinosaur anyway, so I like archaic things in empty for works perfect

225
00:43:54,120 --> 00:44:07,110
for me for that. But nonetheless, looking at the Bitcoin, if you go back on
Twitter, I was asked, when we had this nice little pop up in here. I was asked

226
00:44:07,110 --> 00:44:22,800
directly by one of my followers. What did I feel about Bitcoin, having seen this
price action, and my response was it's now clear to trade lower. We also talked

227
00:44:22,800 --> 00:44:34,740
about being a seller back in here on this breaker. And we talked about it being
a an opportunity is a draw on liquidity. So there was a turning point here. And

228
00:44:34,740 --> 00:44:44,280
there was a turning point here. And also I said that we would stay in a large
consolidation potentially could be there for several months. And we saw that

229
00:44:44,280 --> 00:44:58,140
from the summer months all the way into November. I said that 6400 was the catch
for all liquidity. It's been working 6400 Okay, it moves away from it comes back

230
00:44:58,140 --> 00:45:08,610
down below. It hangs around. It goes back above, it trades back down to it. It
just basically works that level. Okay, so everything was like cumulating, around

231
00:45:08,610 --> 00:45:17,100
the 6400 price level, and go back and look at my twitter and you'll see all that
stuff there. But the bias, obviously has always been lower. And we were looking

232
00:45:17,100 --> 00:45:32,520
for 5000 4003 1000. And since added another lower level, which is 2500. It I
think personally, if we get to 2500, that would be a great deal of capitulation

233
00:45:32,550 --> 00:45:43,620
and massive, short covering rally could ensue there. Now, when I say massive,
I'm not talking 20,000 or 50,000, or even 10,000, could it rally up to like a

234
00:45:43,620 --> 00:45:56,250
5000 level, probably, you know, you could see a double I mean, we saw double
from the 6400, you're basically dropping from, from 6500 or so down to the low

235
00:45:56,250 --> 00:46:09,270
that was seen here on again, this is on coin base. So the low being at 3456. So
basically, we saw, you know, equity if he had went short. In theory, you

236
00:46:09,270 --> 00:46:19,020
basically doubled your account in November. Theoretically, now I don't trade
crypto, I only do this because I have a lot of interest in my students, their

237
00:46:19,020 --> 00:46:27,480
interest rate, not so much mine. But you go through my Twitter, you'll find
whatever I said about it, I think it was all say something in here. I was wrong

238
00:46:27,480 --> 00:46:37,830
one, there was a trade in here and did something, not a trade, but an idea about
you potentially seeing some bullishness and I gave you clear directions as to

239
00:46:37,830 --> 00:46:46,800
what would negate that trade idea. And it was a failed idea. So it hasn't been
like 100%. But I'm in the high 90s. So

240
00:46:48,210 --> 00:46:58,650
I do suspect that 3000 is the near term draw. If you look at price action in
here, it just looks really really heavy. I'd like to see it break down below

241
00:46:59,190 --> 00:47:13,110
this candle here. This last up close candle. And if it breaks below that, there
should be a pretty quick drive right into 3000. And below, it may initially stab

242
00:47:13,110 --> 00:47:25,950
down the 20 100 come back up to 3000, find some some new distribution, and then
roll for 2500. In fact, if it's going to go there at all, go down to an hourly

243
00:47:25,950 --> 00:47:40,260
chart. Okay, we have 60 minute chart, bitcoin price had a nice little pop off of
the low in here came up. We ran a short term high here, and we're going to short

244
00:47:40,260 --> 00:47:51,150
term high here right there. said to me, my interpretation of that is anyone that
was short, and they're aggressively trailing their stop losses lower to protect

245
00:47:51,150 --> 00:48:03,330
open profits. That's where their stop losses. And they ran that. So I'm thinking
if I'm correct, and I'm not stating emphatically that I am because I don't know.

246
00:48:03,780 --> 00:48:18,840
But if this is going to go to 3000 or 2500, this would have been the dirty work
for that prior to it unfolding. In other words, we potentially could see a trade

247
00:48:18,840 --> 00:48:31,260
another 1500 to 1000 points lower than the load that was formed here. So if
that's the case, they're going to want to knock those individuals out that have

248
00:48:31,440 --> 00:48:45,090
trailed. Post proximity stops, trailed lower in order they went short. Anyone
that was going short here, whatever they would, as price was dropping down. They

249
00:48:45,090 --> 00:48:52,680
want to have a real tight stop loss. They don't want to lose anything. They
don't want to give the marketing, any breathing room. Their stop is going to be

250
00:48:52,710 --> 00:49:03,540
above here in about here. And that's essentially what has been cleaned up here.
And then we broke down one more time. So what would change my near term

251
00:49:03,570 --> 00:49:14,580
bearishness on Bitcoin would be trading above these highs. I don't think it's
necessary for price where it is now to trade up to clean this up is it's in your

252
00:49:14,580 --> 00:49:24,300
chart right now. It's on the screen while you're watching this video. I don't
see that as a draw on liquidity at this point for it to trade up to that price

253
00:49:24,300 --> 00:49:32,730
point then we've made the low at least for the rest of the year. I don't think
we've done that. I think we're going to trade as we go lower and lower into the

254
00:49:32,730 --> 00:49:43,230
end of the year. At some point, even though we've had a pretty respectable
decline. I don't think that's the worst of the decline, because there's going to

255
00:49:43,230 --> 00:49:57,780
be a lot more speed, a lot more ferocious, deriving lower price. That's going to
be panic song. This is just distribution. And there's a lot of people that are

256
00:49:57,780 --> 00:50:06,240
holding on still thinking well this is going to be fine. You know, I believe in
the technology, I believe in the whole theory of blockchain and all that. And

257
00:50:06,240 --> 00:50:16,350
again, I'm not trying to argue with people because admittedly, I don't know
enough about you Bitcoin or crypto, I just look at the price chart. And that's

258
00:50:16,350 --> 00:50:27,330
all I care about. And I really wish, I wish I wouldn't have had as much interest
from my students in this because it's a reoccurring email question. You know,

259
00:50:27,360 --> 00:50:36,570
what, every day I'm asking, or I'm asked by folks, they're either longtime
students, or new people to this discovered me, you know, I'm in a trade, I'm

260
00:50:36,570 --> 00:50:43,890
underwater, do you think it's gonna go back to 12,000? You know, I don't
personally see it going back to 12,000. You know, I don't mean that to be rude.

261
00:50:43,890 --> 00:50:54,420
I don't mean it to be, you know, foot or whatever you guys call it? I don't, I
don't believe it's going to do that. I think it's going to go lower before it

262
00:50:54,600 --> 00:51:08,670
ever would consider going up higher again. If at all, you know, there's no,
there's nothing stating, okay. Anywhere that this is required to go up, even if

263
00:51:08,670 --> 00:51:11,370
the technology is sound, you know, if it's

264
00:51:12,960 --> 00:51:26,160
viable, as a industry, and its long term, use and application and things.
Bitcoin itself does not have to go to new highs, it doesn't even have to go 50%

265
00:51:26,400 --> 00:51:36,030
of its all time high. It doesn't even do it does not need to do that. And that's
the paradigm shift that's necessary. Because a lot of you guys and gals that are

266
00:51:36,030 --> 00:51:46,080
new, you you believe anything that's being told to you. And because you're
worked up in a frenzy, and you're emotionally committed, I am objective about

267
00:51:46,080 --> 00:51:56,850
it, because I don't have a horse in the race. And that's all I'm trying to
promote to you is I don't have anything to gain. I just completely objective.

268
00:51:57,000 --> 00:52:06,330
I'm not swayed by any monetary gain or loss. I'm not fearful of missing any
moves, because I'm never going to trade it. And I'm not trying to pump up

269
00:52:06,330 --> 00:52:18,690
something I'm holding on to and hopefully get some kind of public participation.
I don't I don't have any vested stake in Bitcoin. But I would counsel you to go

270
00:52:18,690 --> 00:52:26,700
back and look at the things I've said about Bitcoin, the run up into it, I was
calling 20,000. But then break for 20,000. I said, No, it's not going to happen.

271
00:52:27,270 --> 00:52:35,310
To me, people were looking for it, and the signatures for market making, putting
in a top were there, and it's all on Twitter, and a couple of videos on YouTube.

272
00:52:36,120 --> 00:52:52,020
But nonetheless, I do suspect that it'll be a sloppy run you sideways, to down,
that's what I think may happen, do I suspect there's going to be any, you know,

273
00:52:52,230 --> 00:53:05,640
pump and dump from where we're at right now, I don't think it needs to do that.
So I think we're, we're pretty much limited to about 4000, it may go to 4150, it

274
00:53:05,640 --> 00:53:17,010
could just to go one more time above here and get folks scrambling to either buy
or get stopped out because now this is an intermediate term high. But from a 60

275
00:53:17,010 --> 00:53:27,600
minute chart basis. So there is liquidity traded to this from here, they drop it
down, protecting their short position that anyone would be holding short, this

276
00:53:27,600 --> 00:53:40,230
will be a good location where their retail idea would more or less provoked them
to put their stop loss there. So if we rally above that, that could be an

277
00:53:40,230 --> 00:53:50,880
opportunity to see it a fade. Personally, it would be better had never gone up
there at all. And just trade consolidated in here, and maybe run out some short

278
00:53:50,880 --> 00:54:04,380
term low in here. That'd be sufficient. And then go lower. Right now from a
classic Chartist standpoint, retail sees this as a pennant or coil. And if I

279
00:54:04,380 --> 00:54:12,360
were making this market, I would do that very thing of this said I would only
draw it out for you because you're probably not sure what I'm referring to.

280
00:54:15,480 --> 00:54:34,170
Okay, so essentially, we are looking at something like this. And again, I
apologize I not real strong with the the platform here who was empty for I

281
00:54:34,170 --> 00:54:43,560
already have it all in there. But it's kind of like coiling tighter and tighter
and tighter. I would if it were me driving this price, I would send it up above

282
00:54:43,560 --> 00:54:51,840
here. run those stops, it would look with a false Well, it wouldn't look like a
false breakout to them. But anyone looking at these types of patterns, they

283
00:54:51,840 --> 00:55:00,210
would see that as Okay, we broke out to the upside, and they would assume all
kinds of things as you suggesting it go higher. I would look forward to about

284
00:55:00,210 --> 00:55:10,350
these highs and then maybe anticipate some short selling there. And then on the
other side of the suppose it coil or pennant. That's just me. I'm not saying

285
00:55:10,350 --> 00:55:19,230
it's something you should invest money in. But I'm not sharing my opinion over a
price chart that I'm not invested in. Okay, so I don't even have a demo account

286
00:55:19,230 --> 00:55:33,480
for crypto. So that's the, that's the depths of my willingness to be involved in
it. So let's scrunch this up a little bit, put some perspective on it. You can

287
00:55:33,480 --> 00:55:44,220
see we have a very clear discernible trendline there also, which is another
reason why I said that. If we go higher, we could run this high here upset that

288
00:55:44,220 --> 00:56:09,420
trendline and then go lower to 3000 and maybe 2500. But for right now, this
looks to textbook. Let's put this here. And right. There. Okay. So based on

289
00:56:09,420 --> 00:56:13,890
trendline analysis, all the liquidity is resting here. And,

290
00:56:14,610 --> 00:56:27,060
again, if we trade above this high here, this should offer near term resistance.
In other words, I don't think you'll need to run this. But if we do run these

291
00:56:27,060 --> 00:56:36,510
equal highs, I think we probably made the low for the 2018 session. For Bitcoin,
you may just chop around, do I think this is the low we can trade and go up to

292
00:56:36,510 --> 00:56:48,060
like 8000 or 7000? I don't personally see that. I think the markets very heavily
weighted on the downside. And the question, I'll ask this of the listeners.

293
00:56:49,560 --> 00:57:01,230
Let's just say, for the sake of argument, you you're being talked to by your
buddies, or you just that morbid curiosity, went online and heard about crypto,

294
00:57:01,500 --> 00:57:14,190
okay. And supposedly all the Bitcoin millionaires in Bitcoin rich, calm, blah,
blah, blah. All these folks that were getting rich last year, okay, maybe you're

295
00:57:14,190 --> 00:57:24,720
inspired to trade crypto. Now, maybe you want to buy into the idea that it's
going to go to 50,000 100,000? Or even finally make its way up to 20,000? If you

296
00:57:24,720 --> 00:57:39,510
are considering that. My question is, on what basis are you going to buy? Are
you just going to buy because it's cheap, in terms of what 20,000? level, you

297
00:57:39,510 --> 00:57:50,370
know, or the highest high ahead, you know, high 1900s? Yeah, obviously, in terms
of evaluation standpoint, it's cheap in regards to that. But ultimately, this

298
00:57:50,370 --> 00:58:00,930
thing could really just trade down to 1000, or block back below 1000. And it
could still be a wonderful industry, and Bitcoin could still be used as a

299
00:58:00,930 --> 00:58:16,650
medium, it doesn't need to go up in its evaluation. And for trading, that's my,
that's my reminder to all of you, just because its application is available, and

300
00:58:16,650 --> 00:58:28,680
or used does not in any way, shape, or form, constitute the merit for buying it
as an investment. That's, that's all I'm suggesting to the people that are just

301
00:58:28,680 --> 00:58:39,180
watching and looking at Bitcoin. And for folks that have more or less sat
through this entire decline. You are really an arm wrestling with me. Here we

302
00:58:39,180 --> 00:58:52,980
are, you know, I told you, this is going to happen. And I tried to warn you, all
I stated was take your profits, and try going short. That's all and most of you

303
00:58:52,980 --> 00:59:06,030
didn't listen. And I'm not here to jab you with a sharp stick and say, haha,
you're stupid. That's not the message here. I want you to not lose any more

304
00:59:06,030 --> 00:59:14,160
money because people are just throwing money at this stuff, and just pouring
money into it. And you know, what are you gonna feel, you know, 510 years from

305
00:59:14,160 --> 00:59:23,190
now you look back and you can hear what I said to you. And remember what I said
in tweets, it's gonna feel toxic to you. And you're gonna have animosity, you

306
00:59:23,190 --> 00:59:30,510
probably have animosity towards me, like I somehow caused all this. That's a
normal feeling. Because I felt like that when I was listening to people online

307
00:59:30,510 --> 00:59:37,470
in the 90s when I was a new trader, oh, that guy. He was spreading all that bad
stuff. This market was going to go down whether I said it was going to go down

308
00:59:37,470 --> 00:59:51,270
or not. All I did was point out the reasons why and when it was going to do it.
So if you're thinking about buying Bitcoin, I would wait. Okay, that's all I'm

309
00:59:51,270 --> 01:00:02,550
saying. And I don't think that is a good time to buy it. No. And I just want to
make sure that I made that very clear and If it protects anyone from losing and

310
01:00:02,550 --> 01:00:12,960
money, that's all it was intended to do. Okay, so number one rolling, investing
and trading is you preserve your equity, your capital has to be there or you

311
01:00:12,990 --> 01:00:20,940
don't have a business. So if you're just going in here and just throwing money,
or allocating money every single week, you're throwing money at the state

312
01:00:20,940 --> 01:00:28,230
constantly. Has it proven itself to you post? 2018?

313
01:00:30,120 --> 01:00:40,500
I don't think it has. So is it the death knell for crypto, maybe not, something
else will happen, some other coin or some idea will come up and they'll get hot

314
01:00:40,500 --> 01:00:49,770
about that, too, if the industry is going to stay around. It's like anything
else, folks? There's penny stocks that perform just like this every single year,

315
01:00:50,460 --> 01:01:00,210
every single year, and all of them had the same feelings you had when there was
going up in the 1900 19,000. And it's going to the moon, it's gone to the moon.

316
01:01:00,240 --> 01:01:09,570
That's the normal market cycle. And I told you this as we were going up, and
then right before the top, I say this is what's happening, we are now in mania,

317
01:01:10,260 --> 01:01:20,430
we need to reel in if you have profits in there, please take them. We're going
down the 5000. And it was left that it was you know, I don't know what I'm

318
01:01:20,430 --> 01:01:30,900
talking about. I'm not a crypto trader, Don't listen to him. You're right. I'm
not a crypto trader, and you shouldn't listen to me. And all I'm saying is don't

319
01:01:30,900 --> 01:01:40,890
buy it here. Because it could still go lower. And I was talking to guys, you
five years ago, six years ago, and they were asking me if I was interested in

320
01:01:40,890 --> 01:01:50,070
Bitcoin and I laughed them and said, there's no way. Now maybe I'm the fool.
Because I didn't trade it and I didn't participate in that they will rally. But

321
01:01:50,070 --> 01:01:59,160
I'm not confident I would have been able to pull the money out. Because if I
trade I'm trading big. And if I would have been in my intended position size,

322
01:01:59,730 --> 01:02:10,110
you know, I'd be up there based on the range in terms of what the payout was.
But I said then, you know, I'm not interested in Bitcoin. And did those guys

323
01:02:10,140 --> 01:02:20,790
ride all the way up to 1970? ish? and not take anything out? Are they rich now?
Because I don't see any Bitcoin millionaires? I don't see I don't see him.

324
01:02:21,510 --> 01:02:31,800
There's a lot of talk on the crypto world. But I don't see anyone saying, you
know, here's what I've made. And I've done it. Only the people that were

325
01:02:31,800 --> 01:02:42,300
involved in Bitcoin are the ones that sold out and even told you they were
dumping it in the don't. So a lot of risks, lots of risks. And I think there

326
01:02:42,300 --> 01:02:54,510
still are risks in this. And as long as the idea is still there that it's it's
okay, everything's fine. You know, we're going into a point where we're going to

327
01:02:54,510 --> 01:03:04,950
be a good buying opportunity. It still has downside. And no one is fearful yet.
That's the thing, you know, when everyone's talking about is this capitulation

328
01:03:04,950 --> 01:03:16,230
is this capitulation. It's not capitulation, when it is pandemonium, crypto is
dead, when you see all those types of things, and no one's talking about crypto

329
01:03:16,410 --> 01:03:31,530
being a buy. That that and only then is when it's probably probably and I
underscore that maybe, okay, an opportunity to test a very small position on the

330
01:03:31,530 --> 01:03:43,500
long side. To what level? I don't know. Because the only thing the only thing
I'm seeing right now is lower. And there's no real reason for it to go up. And

331
01:03:43,500 --> 01:03:50,970
that's all I got to say. Hopefully you found this video insightful on some of
the crypto folks are probably thinking, well, this really doesn't do anything

332
01:03:50,970 --> 01:04:02,010
for me. I'm just trying to be a voice of reason. For those that are just now
trying to put their toe in the water. I don't think it's going up from here. And

333
01:04:02,010 --> 01:04:05,490
that's all I have to say till next time which could look into training