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Version 1.1 by Drunk Monkey on 2020-12-09 05:10
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3 ICT: All right, Munchkins Long time no see,
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7 we're looking at the British Pound versus the US dollar or as is commonly
8 referred to in the Forex world cable. So I'm going to kind of use this as a
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12 multi
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16 pronged approach to answering a few questions also respond to a critical
17 student. And we're going to be looking at the difference in contrast between
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21 those individuals that have studied my work, and have a limited perspective and
22 very low end experience, but promote themselves as having legend, status or
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26 prowess. And that of the actual perspective that one would have, after he using
27 it and learning it and authoring it like I have. So there's gonna be a sense of
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31 arrogance in this video. So if that turns you off, you probably want to turn it
32 off. Okay? Because I'm going to speak in terms that are just blunt. And I don't
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36 expect you to like me for and I don't want handshakes and high fives on Twitter
37 for it. I just have to speak my mind. Because it's time. So I asked a lot of
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41 times on Twitter, by way of an acronym of WYD s question mark. And that is
42 simply a prompt, by me. For those that follow my Twitter, if I share a tweet,
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46 and it's including a chart, or I suggest a reference point of the NASA class or
47 a timeframe, and I include WDY s, what do you see? I'm asking you to consider
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51 what is either happened, or what is now in place in price action. So I'm going
52 to use that model here initially in the video and ask you what do you see. Now
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56 this is against an hourly chart of cable. But I want you to look at what we
57 have. And some of you are going to cheat and look at what's happened today, at
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61 the time of this recording, November 27 2018, approximately eight minutes before
62 8am New York time. But don't do that. study what you see here, pause the video
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66 and consider what you would consider being a likely scenario given the market
67 action that's shown here. Okay, I'm gonna assume you paused. If you didn't, you,
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71 you should do it right now. Because I'm going to talk about things that will
72 kill the whole opportunity for you to learn. Alright, so there's a large body of
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76 folks that are using my work now. And I'm flattered by that. And I'm aware that
77 it's reached a lot of folks in different continents and countries. And it's,
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81 it's amazing to see how far my stuff has gone. But unfortunately, there's some
82 that have cropped up and have tried to make a name for themselves at my expense.
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86 But to me, it's hard to make a name for yourself, if you're going to be
87 inconsistent. So I see if the moments that you say the hardest, most critical
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91 statements about me, or my concepts, or the lack thereof, in terms of what I'm
92 able to show what I do show, a lot of the things that you experienced online is
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96 very filtered. And I put a lot of chatter on Twitter, because I want my readers
97 to be highly skeptical, because once you come into the fold, and you really
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101 experience the learning, it's that much more of a profound aha moment. You
102 really feel like you've arrived so So it's all part of the entertainment aspect,
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106 the carnival barker, it's in me that kind of like works up the crowd into a
107 frenzy. And if they're weak minded and they leave, that's exactly what I wanted.
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111 But if you're intrigued and you want to dig a little bit deeper, that's always
112 rewarded. Okay, so with all that said, as a preamble, I want you to consider
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116 what has taken place over here.
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120 Okay, so mentorship folks can rest assure that everything I'm showing here, it's
121 all hindsight now. So there's no benefit to those outside of mentorship, except
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125 for just a simple, I told you so. Okay, so everyone in the mentorship,
126 obviously, you know, over 11,000 people now have seen this before happened.
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130 Okay, I explained it, I'll give you two clips, where you actually see me tell
131 you this in the mentorship. So I'm going to give you a little soundbite some
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135 video clips, of what actually said, and those in their mentorship can call me a
136 liar if I'm not showing you exactly what was shown in mentorship. Okay, so we
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140 have equal highs in here, the work was done here, two runs, one, the liquidity
141 the buy, stocks were taken. And then price traded lower left, these equal lows
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145 intact, rallied up failed to go any higher than this hot here. Why, why they
146 fail here. Because the work was already done over here. There's rarely and I'm
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150 underscoring that and holding my fingers up like quotations. Rarely an instance
151 where we have a stop run, and then another stock run, and then go lower. If it
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155 does, this is a freebie. If it ever shows a run again on another high and then
156 breaks down, you really have a dead ringer, it's going to probably be an
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160 explosive move. In this case, it would be a large extrapolate move to the
161 downside. Once the price action breaks down, we don't need to know that it's
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165 going to go down here we don't need to know that it's going to go down here. We
166 wait for price to Tibbets hand. Now, truth be told, I had told the mentorship
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170 students to be careful with cable cable is going to be a very reactive and
171 responsive to Brexit related news. When price action presented something very
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175 generic very run of the mill, if you will, it's very easy then to step in. But
176 when it's unclear, or when there's a lot of risk around a specific market or
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180 pair, it's best to stand back and just wait. Now a novice will run in and assume
181 right away that they have it figured out it's it's one sided, it's going to be
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185 this or it's that and the wise will will sit back and wait for more insight, the
186 impatience of of a novice or those that lack experience. They may talk like me,
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190 they may use my vernacular, they may talk the things that I say and repeat them
191 in verbatim and make it sound like they were the ones that created that idea.
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195 Okay, but it's really just regurgitation of everything that I've ever said in
196 video. I guess if you listen to videos over and over and over again, I'm
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200 brainwashing you to eventually start talking like me, that's not my goal. But
201 those that try to promote themselves. They all sound like me, but very few and
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205 far between are able to actually deliver with the concepts. Okay, so I'm kind of
206 like poking you to kind of like, weigh these folks out, weigh them, okay?
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210 Because just because they can talk about what's already happened and use my
211 vocabulary in my terms, it to a novice, okay, or neophyte, that's watching them.
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215 They're enamored by that. They feel like, wow, this guy has it all figured out.
216 And I need to be paying attention. But then when you start falling going
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220 forward, or even looking at their examples about what they think is going to
221 happen, they fall on their face. And that's what I do. In one particular there's
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225 a ex student of mine that I watch, and I use as a sentiment gauge. Everything
226 that this young man thinks he's doing, I'm fading that and if you look at the
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230 mentorship, it's exactly as simple as that. Because hot shots, okay, are the
231 best sentiment gauge. Those that think they're the hot shot of a market or they
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235 haven't figured out yet all those types of things, promote this false sense of
236 security. And that illusion. Over time that you're feeding spectators that are
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240 watching you, you end up eventually believing your own bullshit and I think
241 that's What's happened with this young man, but I, I'm taking advantage of it
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245 because I know that that's a perfect sentiment gauge. And he's proven thus far
246 to be almost like a 90%. fade. So
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250 if we're looking at cable in respect to what could happen, what scenarios may
251 unfold for future price moves, you have to have a storyline behind it. Okay, and
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255 the folks that study my work, they go right in anyone look at order blocks, like
256 that's going to be the panacea. That's the, that's the magic bullet. And it's
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260 just one more element to a larger hole that you have to understand. So it's not
261 a matter of what order block should I have? Because I figured that out on know
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265 when to buy when to sell? No, that's not that's not what it is. You need to know
266 what the narrative is behind price action, you have to have a higher timeframe
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270 premise in mind, that means what is likely to occur from a directional
271 standpoint, now, there are some that will promote the idea of the absence of a
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275 bias is the purest form of trading. And I would counter that with that's
276 bullshit. So those individuals that say they don't need a bias are the ones that
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280 can't derive a bias. So it stands to reason that if that's the case, and that's
281 their belief, then it's very telling about their ability or lack thereof, in
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285 terms of analysis. So the whole basis of profiting, okay or the hopes there of a
286 profiting has to come on the heels of move movement and volatility. If we step
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290 into this arena as a trader, or an analyst, even, and we assume that we are
291 going to be profitable, or have hopes that we're going to be profitable, we have
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295 to have a measure of prognostication. And without a bias, that's unachievable.
296 It can't be reached. So if someone says, Well, I don't, I don't try to form a
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300 bias, I just trade this or that, well, you got to have a bias. Are you bullish
301 or bearish, you have to start somewhere. And that's always derived from a higher
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305 timeframe. Good. Go to combination via weekly and daily. And the longer you
306 spend time on those higher timeframes, the more you'll probably talk yourself
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310 out of the bias, the most obvious one that occurs by studying weekly and daily,
311 that direction, whether it be bullish or bearish, just go with that and stick
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315 with it. So with all that I've done free tutorials where you can do that I'm not
316 going to rehash that. And I'll try to do a whole synopsis on one bias here, but
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320 assuming, and I'm taking a great deal of liberty here because I know some of you
321 are going to say, Well, how do I do this and how to do that my response would
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325 be, go through all my free videos on the website, the inner circle trader.com,
326 you have to register your account. I been backed up recently with emails and
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330 such, but every few days or so I'll go in and see if new accounts have been
331 started or waiting for registration approval and then approve them, then you can
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335 go in and see my free tutorials. You're all looking for market maker videos,
336 they're in the free form, I won't put them on YouTube. And when people try to
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340 upload them, I get a flag and it tells me and I tell you to to take it down
341 because I don't want that on YouTube. It's all free. You guys can come into my
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345 free forum and see it but it's not in China. Like I'm hiding it from you. I just
346 don't want it on YouTube because you know that they're gonna make money off ads
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350 and I don't want money made off of that. I can make a whole lot of money with
351 it, but I don't want to so the point is, when we're looking at price, we want to
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355 number one, understand the narrative, what's the storyline from a higher
356 timeframe and then start looking for evidences and clues as to what price may do
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360 next. So here we have this whole bit of price action ring in here. This starts
361 our narrative Okay, they ran by stops why would the market run by stops because
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365 it wants to go lower or they want to offset old Long's so it's a profitable
366 exit. Well, prior to this whole business here what was priced doing trading
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370 lower. So at the retracement, we clear some highs here so there's buy stops
371 here. Buy stops here. Buy stops here large liquidity pool ran out. tries to run
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375 one more time. Bull flag traders see that think okay, it's going to go higher
376 now.
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380 Fibonacci retracement guys they see this maybe even falsely assume that it's a
381 optimal trade entry for a long wrong the narrative is they ran by stops in an
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385 existing downtrend. Okay or institutional order flow in this case would be
386 deemed bearish. So we're focusing on the sell side of the marketplace. We're
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390 Looking for lower prices, any rallies, okay, or future runs on buy stops, should
391 offer favorable shorting opportunities. So we have this quick decline here,
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395 okay, and those individuals that study my work, they will assume that this is an
396 efficiency, and they're going to look for that to be filled in all through here.
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400 Okay. And that's when we're going to get into the lack of experience. Because
401 when people do this, this is what they end up coming away with, they see this,
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405 okay, and they assume that it's going to fill and arrogance will step in. Some
406 ego minded, you know, impulse will force them to get online, share something
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410 tweeted, and wait to feel like they're smart. And only after it runs up in here,
411 okay. So all this price action here was another layer, and a larger layer of by
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415 side liquidity, numbers by stops. So we had this whole section of retail
416 resistance, price starts to drop down, drops down a bit lower, cross a little
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420 bit lower, and then runs all the way up into this level here. And I'll talk
421 about the elements and prove that I already expected this to happen anyway, by
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425 way of video. And again, I have 11,000 people, that'll call me a liar. If I'm
426 saying what I'm saying in this video is untrue. But up here, there's nothing
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430 inefficient up here. Okay, so this whole business filming, that is not going to
431 happen, because it's already been done. Over here. I introduced a concept called
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435 the ice breaker. And some people understand it, some people think they
436 understand it and make videos and, you know, teaching groups, but they really
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440 don't have a firm grasp on it. Sometimes they got it, sometimes they don't. But
441 to understand the breaker, you have to understand take a step back away from
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445 price action, from a technical standpoint. And just think in terms of order
446 flow. Now, I'm not talking about depth of market or, or ladders or anything like
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450 that. I'm talking about just the storyline. This is what you do with your
451 downtime on the weekends, you want to go through past price action, and see what
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455 examples took place on a 15 minute and an hourly basis on any asset class or any
456 market. If you do this every single week, spend about 30 minutes doing it, make
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460 notations on your charts and say, Okay, well, like I just did here earlier, you
461 know, these highs drawn out as equal, with his old high back here, price ran
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465 that if you start studying this, okay, I saw all these things back in the 90s.
466 And it wasn't until I was approached by people that are in the realm of making
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470 markets, okay. And I bridged what was potentially able to be used as a career
471 for me as a market maker. But I declined on all that I didn't want to do any of
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475 that. Because I had figured out what the missing piece was. I took what was
476 offered as real market making concepts, which is completely void, anything you
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480 see on YouTube that has market makers attached to it. This basically bullshit,
481 okay, none of that's market maker, nothing. It's none of its market maker.
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485 Everything that I teach is absolutely market making concepts. And it's proven
486 because I'm the only one that's doing this consistently every single week, to
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490 the PIP every single week. Everyone else, they have all these things, these have
491 these gadgets and little things around the chart. soon as you start doing that
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495 you'll take away the whole effects of market making because market making has
496 nothing to do with indicators. It has nothing to do with anything except for the
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500 open high low and close price delivery. That's it, that's all it is. Okay,
501 liquidity and price delivery. So the third aspect of that is time so it's time
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505 price theory.
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509 If we can see that this down closed candle is the bearish breaker. Okay, it's
510 the down closed candle right before run up clearing highs. So our I need to go
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514 right to that. So anyone that's starting to look at this over here and say this
515 is got to be filled. Okay? Or filmi bitch, they're completely clueless, they
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517 105
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519 have no idea what they're doing. And they don't understand my concepts. If we
520 can see inside this block of price action written here, now I say block because
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524 it's basically a big square. Okay, and all of this price action in here. There
525 is essentially, one big consolidation where the work has been done. What work is
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529 that Michael, they ran the stops on the buy stops. Okay, so the market is
530 primed. Now, to go lower. That's this move here. All we have to do is go inside
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534 of this range, and I use the low here in the high here. Now if we're doing like
535 Fibonacci work, you saw my free tutorials where you can use the bodies of the
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539 candles and get a more close depiction of where the Fibonacci should be
540 sensitive to. Okay, and overlap that with institutional pricing. But necessary
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544 regard. We're looking at that range here.
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548 Okay, so I have a measurement already here of equilibrium. That's what's showing
549 right here. And equilibrium on this field is just basically 50% level. And I got
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553 a tweet to me this one I didn't respond to, but I'll say the answer to it here.
554 I'm certainly republican to watch this video. The 50% level is basically fair
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558 value. Okay, when prices retrace back to a 50% basis of any previous swing,
559 generally, there is a bounce of some sort. But if you add context to it, like
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563 I'm showing you here and teaching, the element of price narrative, and which is
564 a real market making concept, and you don't see that on YouTube, Martin Cole
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568 doesn't talk about it. Steve Morrow doesn't talk about it. Because these guys
569 studied all my old stuff, and rehash it and create all kinds of horseshit out of
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573 it. So long and short. equilibrium is 50%. And if you go back to that level,
574 expect some recapitalisation in the form of whatever existed prior, okay,
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578 whatever was before, in terms of price movement, it will probably continue at
579 that point in that same direction. In other words, it'll create a support
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583 resistance theory. So we have this level here. Okay, so we have 128 79,
584 essentially, so if we have that level based on the fib, okay, I'm going to take
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586 119
587 00:22:55,500 ~-~-> 00:23:08,130
588 the fib off, because you don't need it now. So we have 129 79. So what level was
589 that essentially in terms of institutional pricing 129 80. So if we calibrate
590
591 120
592 00:23:08,130 ~-~-> 00:23:19,590
593 that to 129 80, that's a price that's should be sensitive anyway, by itself. Now
594 we add to it that we have a equilibrium price point inside of this
595
596 121
597 00:23:19,770 ~-~-> 00:23:35,370
598 consolidation. Now we can ring in our fib. And I'll explain what I'm going to do
599 here in a minute. Draw the fib from that level down. This is where Fibonacci
600
601 122
602 00:23:35,610 ~-~-> 00:23:48,240
603 becomes magic. If you take the ad level drop down to the low, that's our working
604 range, okay, that's where we can get an optimal trade entry. That's where we can
605
606 123
607 00:23:48,240 ~-~-> 00:23:59,820
608 look for price to reach up into and not up into here, this does not need to be
609 filled, because it's already been balanced. Okay, this whole run up, it's done
610
611 124
612 00:23:59,820 ~-~-> 00:24:08,430
613 its work, it's random by stops, there's no necessity for it to come back up in
614 here and fill that. In fact, if price goes up into that, it's far less likely to
615
616 125
617 00:24:08,430 ~-~-> 00:24:18,870
618 trade low or because it's gone back above what would be deemed requirement for
619 mitigation. mitigation is going to be done in here anything was taken long here.
620
621 126
622 00:24:19,710 ~-~-> 00:24:33,870
623 If so, facilitate around on in house liquidity for like a broker or a liquidity
624 provider, they will have to exit that those positions many times if the price
625
626 127
627 00:24:33,870 ~-~-> 00:24:44,700
628 moves quickly like this, they may not have the opportunity to unwind those
629 Long's they had here, because they may be offering or making a book for sellers.
630
631 128
632 00:24:45,240 ~-~-> 00:24:56,160
633 So if a large body of liquidity is looking to sell this particular pair, the
634 liquidity provider or the broker, they may have to operate in house as a
635
636 129
637 00:24:56,160 ~-~-> 00:25:06,570
638 liquidity provider and take the buy side of that. So they can now mitigate this
639 entry here at a later time when it trades back up to this price point, which is
640
641 130
642 00:25:06,570 ~-~-> 00:25:16,530
643 the bearish breaker. So we have this window or optimal trade entry right in
644 here. Now I'm going to do is draw this out just a little bit so you can see the
645
646 131
647 00:25:16,530 ~-~-> 00:25:31,380
648 overlap right there. So we have optimal trade entry. You can see it here. This
649 is basically this is 79%, tradesmen level and a 60 62% retracement level. If we
650
651 132
652 00:25:31,380 ~-~-> 00:25:36,240
653 have that. And I add a
654
655 133
656 00:25:57,720 ~-~-> 00:26:18,480
657 let's go with a different shade of orange. All right. So now once we have this,
658 this no longer is the novice view, this is the informed view with my concepts.
659
660 134
661 00:26:18,690 ~-~-> 00:26:30,390
662 So did naive aspect of looking at price has now been removed. We have a
663 liquidity pool and form of buy stocks resting here. The narrative is they've
664
665 135
666 00:26:30,390 ~-~-> 00:26:43,950
667 already ran stops over here. So any rally above to take these stops should be
668 what song opportunity, okay. And we can calibrate that to 129 30 was where it
669
670 136
671 00:26:43,950 ~-~-> 00:26:57,090
672 can reach up to as a 75% tradesmen level, the low end takes us into basically
673 this old high. So the high comes in 2885, which is a five level great, you can
674
675 137
676 00:26:57,120 ~-~-> 00:27:12,660
677 be aggressive, and look to see it trade the midpoint, okay, which would be like
678 70.5 level, that's my sweet spot for optimal trade entry. Again, it's 70.5. And
679
680 138
681 00:27:12,750 ~-~-> 00:27:22,860
682 if that trades to that price level, in this case, it would be approximately
683 120 905. or very close to it. Or it basically you can be a seller at 129. Big
684
685 139
686 00:27:22,860 ~-~-> 00:27:32,610
687 figure, anything above 129 big figure is a bonus. Okay, but you have to consider
688 this for your entry and where your stop loss would be in relationship to that
689
690 140
691 00:27:33,840 ~-~-> 00:27:47,460
692 formation and price. So we have an overlap of the breaker here at 1.9 19. That's
693 this body here on this down close candle. We also have the equilibrium as the
694
695 141
696 00:27:47,460 ~-~-> 00:27:56,580
697 anchor point, because why am I drawing it from here? Because I already know what
698 you're asking me, I can read your mind the element of needing to come back to
699
700 142
701 00:27:56,580 ~-~-> 00:28:08,220
702 that price point. Okay, after we've had this breaker, it's highly unlikely if we
703 would have had no breaker in here and it was just consolidation and lower highs,
704
705 143
706 00:28:08,610 ~-~-> 00:28:17,190
707 then the equilibrium price point would probably be reached up into and then
708 lower prices would be in order or would be reasonable. Okay. That's the reason
709
710 144
711 00:28:17,190 ~-~-> 00:28:26,130
712 why the equilibrium price point here is not going to be a magnet or draw on
713 liquidity. It's going to be an anchor point. Okay, so I know all this sounds
714
715 145
716 00:28:26,130 ~-~-> 00:28:38,220
717 like hindsight, but trust me, I'm going to show you the videos where it was
718 explained before it all happen. So we have this rally up in here. And you part
719
720 146
721 00:28:38,220 ~-~-> 00:28:50,550
722 two, so you can see it a little bit better. There we are. So this run here is a
723 run on the bizstats. We see this. We're looking to go short. Sell it, where's it
724
725 147
726 00:28:50,550 ~-~-> 00:29:01,470
727 going to reach for? Well, we have all these equal lows in here. There's a
728 liquidity pool resting right below that. And also right there, what's the open
729
730 148
731 00:29:01,470 ~-~-> 00:29:19,140
732 on that? 127 49 k 127 49 if prices above that open, as it will be here. And it's
733 expected to trade down to that what's the nearest institutional price level to
734
735 149
736 00:29:19,140 ~-~-> 00:29:37,350
737 that? 127 50 right. Look at the open again. 127 49 and if price is above that
738 coming down to it because price very well could bounce there and create an
739
740 150
741 00:29:37,350 ~-~-> 00:29:51,390
742 opportunity to go long. I'm using this as a framework as an anchor point for
743 draw on liquidity. It's acting as a magnet now. The order block of 127 50 is
744
745 151
746 00:29:51,390 ~-~-> 00:30:15,120
747 where you would look for price to go to So now we've framed the market with
748 institutional reform, the Smart Money view of what should take place the runs on
749
750 152
751 00:30:15,120 ~-~-> 00:30:20,520
752 liquidity, coupling that with the narrative, then we have basically, the
753
754 153
755 00:30:21,780 ~-~-> 00:30:30,150
756 basis of institutional order flow really, everything is in place now for to go
757 lower. Now all you do is look for an entry pattern, entry pattern could be a
758
759 154
760 00:30:30,150 ~-~-> 00:30:41,250
761 rung above the opening on a daily, or it could be a break down waiting for that
762 and then trade up into a bearish Orbach. We're looking at an hourly chart here.
763
764 155
765 00:30:42,120 ~-~-> 00:30:50,820
766 And it's at this moment here, you could be a seller, right at that, because it's
767 hitting the 60% tradesmen level. And we've already done the work of retracing
768
769 156
770 00:30:50,820 ~-~-> 00:31:01,170
771 back up in here, we hit the breaker, all of this isn't going to need to be
772 filled, that's not a that's not a void in liquidity. Okay, folks that think this
773
774 157
775 00:31:01,170 ~-~-> 00:31:09,510
776 is a void, don't understand my concepts, they only watched a couple free
777 tutorials, and didn't pay attention in class and the results show it. But they
778
779 158
780 00:31:09,510 ~-~-> 00:31:18,810
781 could be a seller here. And your stock could be right above this. Now, because
782 the work has been done. It's now is a good, reasonable location for a stop. So
783
784 159
785 00:31:18,810 ~-~-> 00:31:29,070
786 you could be a seller here. And a stop here, again, is the hourly chart. So it's
787 kind of like a swing trade idea. Price manage a little bit stays in here bumps
788
789 160
790 00:31:29,070 ~-~-> 00:31:40,350
791 it again, at the OT. And now we have a breakdown. Now this is what I was saying.
792 You don't have to have the the Moxie to get in here. And trade short here, you
793
794 161
795 00:31:40,350 ~-~-> 00:31:49,560
796 don't need that everyone else is gonna see that as a bull flag. Wait for it to
797 come down, show willingness to want to decline. Here's your upclose candle. This
798
799 162
800 00:31:49,560 ~-~-> 00:31:59,340
801 is going to be a bearish order block, wait for the trade back to it. That's
802 here. Okay, it hits it bumps into it. Right there. That's where your short could
803
804 163
805 00:31:59,340 ~-~-> 00:32:07,380
806 be. That's a very, very low risk sell. Now, you're probably thinking, Well, wait
807 a minute, isn't this equal highs? And if I sold here, how do I know it's not
808
809 164
810 00:32:07,380 ~-~-> 00:32:17,190
811 gonna come up in here? I just explained everything to you. All the work has been
812 done here. And all the works been done here. They've already ran stops here. All
813
814 165
815 00:32:17,190 ~-~-> 00:32:31,050
816 this is is a false context of forming pseudo continuation patterns, in this case
817 would be a bull flag. Price comes right back up on this candle here. It opens
818
819 166
820 00:32:31,080 ~-~-> 00:32:43,410
821 trades up into this candle over here. Now what time of the day is this? That's
822 one enclose. So one enclosed is not always the cap on the daily range. Sometimes
823
824 167
825 00:32:43,410 ~-~-> 00:32:56,010
826 it's a continuation. What's the continuation don't lower. So we have opportunity
827 go short rated on the close. Hold, what are we holding for 2750. Now, I want to
828
829 168
830 00:32:56,010 ~-~-> 00:33:02,580
831 learn how to get in here I just showed you. I want to learn how to get up in
832 here before it breaks down I just showed you. I want to get in when it's wrote
833
834 169
835 00:33:02,580 ~-~-> 00:33:11,430
836 really low risk. And I can see with a great deal more confirmation. But I'm
837 willing to give up a little bit of the better pricing I just showed you. Their
838
839 170
840 00:33:11,430 ~-~-> 00:33:29,010
841 shoulder block. Okay, so your ranges here to here. That's my weekly range. I'm
842 looking for 75 to 50 pips, that's what this is. So if we have a run rate in
843
844 171
845 00:33:29,010 ~-~-> 00:33:39,750
846 here, back up to this level, it's going to unnerve some, okay, but your stop
847 loss can be right above here, you don't need to have to worry about that. Yes.
848
849 172
850 00:33:39,780 ~-~-> 00:33:48,930
851 And a swing trade basis, this is going to unsettle some of you that that's not
852 going to unsettle those individuals that know where their stop should be
853
854 173
855 00:33:48,930 ~-~-> 00:34:04,110
856 relative to the narrative that's been priced in prices now make one more time to
857 clear by stops, by stops, we consolidated and ultimately smashed down where they
858
859 174
860 00:34:04,110 ~-~-> 00:34:14,940
861 reach for 127 50. So if the liquidity is going to be attacked around that mid
862 figure, they have to sweep below it a little bit as well, because everyone has a
863
864 175
865 00:34:14,940 ~-~-> 00:34:25,740
866 spread. So if we look at the low that formed the lowest low form today was 2735.
867 So we went 15 pips below that for good measure. So we dipped handsomely inside
868
869 176
870 00:34:25,740 ~-~-> 00:34:37,200
871 of this last enclosed candle or bullish order block, and you can see the
872 subsequent response there are. So if we know that's the narrative now we can
873
874 177
875 00:34:37,200 ~-~-> 00:34:57,810
876 apply institutional levels in concert with what was this explained in this video
877 thus far. Notice how we traded to the 20 level. We hung around the 80 level
878
879 178
880 00:34:58,170 ~-~-> 00:35:11,490
881 broke away from it came down to the big figure trader to mid figure traded down
882 consolidated around the 20 level 20 acted as resistance, and then reached for
883
884 179
885 00:35:11,850 ~-~-> 00:35:18,030
886 the 50 level, paused briefly around the 80, but reached for the 2750 minute
887 figure.
888
889 180
890 00:35:19,710 ~-~-> 00:35:30,570
891 No, notice how every single turning point is occurring at an institutional price
892 level. This is what I taught back in 2010, for free on baby pips. Everything
893
894 181
895 00:35:30,570 ~-~-> 00:35:42,540
896 that I just explained to you with cable was the basis of why I said in response
897 to those inquiring about cable in my mentorship. Now with that said, let's go
898
899 182
900 00:35:42,540 ~-~-> 00:35:52,320
901 and watch what was talked about before the back. So mentorship, I'm giving a
902 small little segment of what I talked about in the last few weeks relative to
903
904 183
905 00:35:52,320 ~-~-> 00:36:04,200
906 cable. And again, if this is not what was shown, you have my permission to call
907 me a blatant liar on Twitter. We have equal highs in here. And I think that this
908
909 184
910 00:36:04,200 ~-~-> 00:36:20,280
911 punch up was just a fake drive. And I think why not going lower as a result, not
912 the Judas. And there you go, there's our equal highs. So I want to see it,
913
914 185
915 00:36:20,280 ~-~-> 00:36:31,050
916 reject that and go lower and make an attack on the sell side of the marketplace.
917 But if we rally through and take out this high, that puts everything on this
918
919 186
920 00:36:31,050 ~-~-> 00:36:41,580
921 mentioned on the backburner and want to take things a different direction at
922 that point. But as long as they stay below this swing high. I'm bearish on cable
923
924 187
925 00:36:42,030 ~-~-> 00:36:55,560
926 weather expansion, clear to start out here. And I say they would roll over not
927 go up. Folks that think they understand a few things from my mentorship or the
928
929 188
930 00:36:56,130 ~-~-> 00:37:12,660
931 free tutorials. They were looking for this area here to quote unquote, fill in,
932 disregarding this whole candle right here, breaker. If we take that and add that
933
934 189
935 00:37:12,660 ~-~-> 00:37:13,260
936 to
937
938 190
939 00:37:19,050 ~-~-> 00:37:27,120
940 the mix, you'll see why I was suggesting that we were going to roll over and
941 notice what I'm doing. I'm telling you what's going to happen before happens.
942
943 191
944 00:37:27,450 ~-~-> 00:37:35,010
945 Then I'm going back in and tell you the reasons why. Why. Because it's a couple
946 guy who's in here. Okay, you're running your own groups. And I'm not going to
947
948 192
949 00:37:35,010 ~-~-> 00:37:43,530
950 give you all the details. You have to work it out on your own if you're selling
951 analysis. I mean, that was nothing but love, obviously. Wink wink nudge nudge.
952
953 193
954 00:37:43,830 ~-~-> 00:37:55,380
955 So we have Farish breaker, right in here. And this is not going to need to be
956 filled in. Okay, because we have a liquidity pool here with a breaker right
957
958 194
959 00:37:55,380 ~-~-> 00:38:06,990
960 there. So what's going to stop price and while we have heavy liquidity here,
961 triple top type thing, we call it, retail resistance of how I see it. So there's
962
963 195
964 00:38:06,990 ~-~-> 00:38:15,120
965 gonna be traders that want to go short cable, you're going to feel comfortable
966 putting their stop loss rate above there, but immediately the left. Got to go
967
968 196
969 00:38:15,120 ~-~-> 00:38:25,140
970 back inside institution order flow, there's your breaker. Okay, so the algorithm
971 if that will go back to that price. Trade right back into it, the high comes in
972
973 197
974 00:38:25,140 ~-~-> 00:38:40,440
975 at 129 29. Okay, so it's five pips, or four pips rather, above 120 and 25.
976 handsomely delivered, and then aggressively sold off, down to the big finger. I
977
978 198
979 00:38:40,440 ~-~-> 00:38:52,680
980 think they're selling a narrative that 128 is support. Don't trust that heavy
981 liquidity resting below here. And over here, okay, so I think that we'll see
982
983 199
984 00:38:52,680 ~-~-> 00:39:03,840
985 that firmer on the dollar, and then run on liquidity down here. And at the very
986 least, I think we should try to run this out. Up here, it looks like it's done
987
988 200
989 00:39:03,840 ~-~-> 00:39:12,660
990 its work as far as rebalancing, I don't think there's any necessity for it to go
991 any higher relative to what's shown right now. So the draw on liquidity, I
992
993 201
994 00:39:12,660 ~-~-> 00:39:30,660
995 believe, is 127 60 to 127 58. We get an expansion 127 20. Okay, so there's our
996 things do have our notations and study that this week cable. So there you have
997
998 202
999 00:39:30,660 ~-~-> 00:39:40,500
1000 it, that's what it looks like when you're inside the mentorship. How I explain
1001 the market, what I think is going to happen. I do go both ways in terms of my
1002
1003 203
1004 00:39:40,500 ~-~-> 00:39:49,530
1005 analysis, but I tell you specifically, what side of the marketplace I'm
1006 favoring, and also explain what negates that idea or premise. So it's not like
1007
1008 204
1009 00:39:49,530 ~-~-> 00:39:58,500
1010 I'm playing both sides and saying, See, I told you so. I'm telling you, what I
1011 believe is going to happen, but what would also next the whole trade. Okay, so
1012
1013 205
1014 00:39:59,370 ~-~-> 00:40:12,870
1015 you can see Price did in fact deliver as we expected in mentorship 127 50 was
1016 hit. If we do see any further downside, we could see, for instance, all of this
1017
1018 206
1019 00:40:12,870 ~-~-> 00:40:24,720
1020 price action here could act as a base of liquidity for new shorts accumulating,
1021 and then make a run to that 127 20 will happen. I don't know. But this is enough
1022
1023 207
1024 00:40:24,720 ~-~-> 00:40:35,670
1025 for me to do one shot one kill. And it's all it's necessary. 80 pips in the bag,
1026 easy, easy, easy trading, simple stuff using liquidity, everything outside of
1027
1028 208
1029 00:40:35,670 ~-~-> 00:40:47,340
1030 candlesticks, okay, everything is outside of the, the order block, it's outside
1031 of technical analysis. It's all liquidity in order flow. That's it. My
1032
1033 209
1034 00:40:47,340 ~-~-> 00:40:57,690
1035 institutional order flow is not what is bandied about as order flow. in retail
1036 circles, they try to say that they aren't retail, but they really are retail,
1037
1038 210
1039 00:40:57,690 ~-~-> 00:41:07,020
1040 because they're looking at things that retail is looking at. And I'm looking at
1041 where your stops are. And your stops are exactly where large funds are in large
1042
1043 211
1044 00:41:07,020 ~-~-> 00:41:18,390
1045 one stops. That's where the market goes to. Okay, so, hope you found that
1046 insightful. I want to go over to the Bitcoin market, talk a little bit about
1047
1048 212
1049 00:41:18,390 ~-~-> 00:41:32,100
1050 that and close this video up. That's a horror story for you. Look at that.
1051 Alright, so just want to give credit to my wife, she helped me call the topic 19
1052
1053 213
1054 00:41:32,100 ~-~-> 00:41:42,420
1055 seven. Good things, you don't want these videos. Hi, guys. So anyway, deleting
1056 the music, I'm terrible. Alright, so it's it's a running gag my wife and I have.
1057
1058 214
1059 00:41:42,540 ~-~-> 00:41:55,890
1060 So anyway, the Bitcoin market, you can see, obviously, we've left our multi
1061 month consolidation on the downside, drawing attention to this old low, and his
1062
1063 215
1064 00:41:55,890 ~-~-> 00:42:05,700
1065 old high back here in his old high back here. So from a classic support
1066 resistance theory, this would be deemed the next level of support. Therefore,
1067
1068 216
1069 00:42:05,730 ~-~-> 00:42:08,490
1070 there's a lot of talk about
1071
1072 217
1073 00:42:10,320 ~-~-> 00:42:23,970
1074 the potential to see 3000 as the next buy. And I agree that 3000 could see some
1075 measure of buying, but I think it's going to be in the form of profit taking.
1076
1077 218
1078 00:42:24,390 ~-~-> 00:42:35,370
1079 But we still could go a little bit lower, more specifically right below this low
1080 here. I think the liquidity resting below that in the range of about 500 points
1081
1082 219
1083 00:42:35,370 ~-~-> 00:42:44,910
1084 or so which would take us to about 2500. That's the reason why I tweeted, I
1085 thought that 2500 could be interesting, would prove interesting to see if we get
1086
1087 220
1088 00:42:44,910 ~-~-> 00:42:55,710
1089 down here. If we get some acceleration beyond 2500, then we really have to
1090 consider over here, the liquidity resting below these lows, they would take us
1091
1092 221
1093 00:42:55,710 ~-~-> 00:43:14,430
1094 primarily all the way back down to the level seen over here. All right, so let's
1095 go into a tighter view on a daily and they'll drop into an hourly. Okay, and I
1096
1097 222
1098 00:43:14,430 ~-~-> 00:43:31,140
1099 use daily FX for any crypto discussions. Because that's what I'm familiar with.
1100 I don't like trading view as a general medium. And there's a lot of people that
1101
1102 223
1103 00:43:31,140 ~-~-> 00:43:43,260
1104 like it. I'm just not I'm very clumsy with it. And I just don't feel I don't
1105 feel comfortable using it. Not that it's any less effective. For those that do
1106
1107 224
1108 00:43:43,260 ~-~-> 00:43:54,120
1109 use it. There's no rule. platform that's one better than the other. Alright, so
1110 how I'm a dinosaur anyway, so I like archaic things in empty for works perfect
1111
1112 225
1113 00:43:54,120 ~-~-> 00:44:07,110
1114 for me for that. But nonetheless, looking at the Bitcoin, if you go back on
1115 Twitter, I was asked, when we had this nice little pop up in here. I was asked
1116
1117 226
1118 00:44:07,110 ~-~-> 00:44:22,800
1119 directly by one of my followers. What did I feel about Bitcoin, having seen this
1120 price action, and my response was it's now clear to trade lower. We also talked
1121
1122 227
1123 00:44:22,800 ~-~-> 00:44:34,740
1124 about being a seller back in here on this breaker. And we talked about it being
1125 a an opportunity is a draw on liquidity. So there was a turning point here. And
1126
1127 228
1128 00:44:34,740 ~-~-> 00:44:44,280
1129 there was a turning point here. And also I said that we would stay in a large
1130 consolidation potentially could be there for several months. And we saw that
1131
1132 229
1133 00:44:44,280 ~-~-> 00:44:58,140
1134 from the summer months all the way into November. I said that 6400 was the catch
1135 for all liquidity. It's been working 6400 Okay, it moves away from it comes back
1136
1137 230
1138 00:44:58,140 ~-~-> 00:45:08,610
1139 down below. It hangs around. It goes back above, it trades back down to it. It
1140 just basically works that level. Okay, so everything was like cumulating, around
1141
1142 231
1143 00:45:08,610 ~-~-> 00:45:17,100
1144 the 6400 price level, and go back and look at my twitter and you'll see all that
1145 stuff there. But the bias, obviously has always been lower. And we were looking
1146
1147 232
1148 00:45:17,100 ~-~-> 00:45:32,520
1149 for 5000 4003 1000. And since added another lower level, which is 2500. It I
1150 think personally, if we get to 2500, that would be a great deal of capitulation
1151
1152 233
1153 00:45:32,550 ~-~-> 00:45:43,620
1154 and massive, short covering rally could ensue there. Now, when I say massive,
1155 I'm not talking 20,000 or 50,000, or even 10,000, could it rally up to like a
1156
1157 234
1158 00:45:43,620 ~-~-> 00:45:56,250
1159 5000 level, probably, you know, you could see a double I mean, we saw double
1160 from the 6400, you're basically dropping from, from 6500 or so down to the low
1161
1162 235
1163 00:45:56,250 ~-~-> 00:46:09,270
1164 that was seen here on again, this is on coin base. So the low being at 3456. So
1165 basically, we saw, you know, equity if he had went short. In theory, you
1166
1167 236
1168 00:46:09,270 ~-~-> 00:46:19,020
1169 basically doubled your account in November. Theoretically, now I don't trade
1170 crypto, I only do this because I have a lot of interest in my students, their
1171
1172 237
1173 00:46:19,020 ~-~-> 00:46:27,480
1174 interest rate, not so much mine. But you go through my Twitter, you'll find
1175 whatever I said about it, I think it was all say something in here. I was wrong
1176
1177 238
1178 00:46:27,480 ~-~-> 00:46:37,830
1179 one, there was a trade in here and did something, not a trade, but an idea about
1180 you potentially seeing some bullishness and I gave you clear directions as to
1181
1182 239
1183 00:46:37,830 ~-~-> 00:46:46,800
1184 what would negate that trade idea. And it was a failed idea. So it hasn't been
1185 like 100%. But I'm in the high 90s. So
1186
1187 240
1188 00:46:48,210 ~-~-> 00:46:58,650
1189 I do suspect that 3000 is the near term draw. If you look at price action in
1190 here, it just looks really really heavy. I'd like to see it break down below
1191
1192 241
1193 00:46:59,190 ~-~-> 00:47:13,110
1194 this candle here. This last up close candle. And if it breaks below that, there
1195 should be a pretty quick drive right into 3000. And below, it may initially stab
1196
1197 242
1198 00:47:13,110 ~-~-> 00:47:25,950
1199 down the 20 100 come back up to 3000, find some some new distribution, and then
1200 roll for 2500. In fact, if it's going to go there at all, go down to an hourly
1201
1202 243
1203 00:47:25,950 ~-~-> 00:47:40,260
1204 chart. Okay, we have 60 minute chart, bitcoin price had a nice little pop off of
1205 the low in here came up. We ran a short term high here, and we're going to short
1206
1207 244
1208 00:47:40,260 ~-~-> 00:47:51,150
1209 term high here right there. said to me, my interpretation of that is anyone that
1210 was short, and they're aggressively trailing their stop losses lower to protect
1211
1212 245
1213 00:47:51,150 ~-~-> 00:48:03,330
1214 open profits. That's where their stop losses. And they ran that. So I'm thinking
1215 if I'm correct, and I'm not stating emphatically that I am because I don't know.
1216
1217 246
1218 00:48:03,780 ~-~-> 00:48:18,840
1219 But if this is going to go to 3000 or 2500, this would have been the dirty work
1220 for that prior to it unfolding. In other words, we potentially could see a trade
1221
1222 247
1223 00:48:18,840 ~-~-> 00:48:31,260
1224 another 1500 to 1000 points lower than the load that was formed here. So if
1225 that's the case, they're going to want to knock those individuals out that have
1226
1227 248
1228 00:48:31,440 ~-~-> 00:48:45,090
1229 trailed. Post proximity stops, trailed lower in order they went short. Anyone
1230 that was going short here, whatever they would, as price was dropping down. They
1231
1232 249
1233 00:48:45,090 ~-~-> 00:48:52,680
1234 want to have a real tight stop loss. They don't want to lose anything. They
1235 don't want to give the marketing, any breathing room. Their stop is going to be
1236
1237 250
1238 00:48:52,710 ~-~-> 00:49:03,540
1239 above here in about here. And that's essentially what has been cleaned up here.
1240 And then we broke down one more time. So what would change my near term
1241
1242 251
1243 00:49:03,570 ~-~-> 00:49:14,580
1244 bearishness on Bitcoin would be trading above these highs. I don't think it's
1245 necessary for price where it is now to trade up to clean this up is it's in your
1246
1247 252
1248 00:49:14,580 ~-~-> 00:49:24,300
1249 chart right now. It's on the screen while you're watching this video. I don't
1250 see that as a draw on liquidity at this point for it to trade up to that price
1251
1252 253
1253 00:49:24,300 ~-~-> 00:49:32,730
1254 point then we've made the low at least for the rest of the year. I don't think
1255 we've done that. I think we're going to trade as we go lower and lower into the
1256
1257 254
1258 00:49:32,730 ~-~-> 00:49:43,230
1259 end of the year. At some point, even though we've had a pretty respectable
1260 decline. I don't think that's the worst of the decline, because there's going to
1261
1262 255
1263 00:49:43,230 ~-~-> 00:49:57,780
1264 be a lot more speed, a lot more ferocious, deriving lower price. That's going to
1265 be panic song. This is just distribution. And there's a lot of people that are
1266
1267 256
1268 00:49:57,780 ~-~-> 00:50:06,240
1269 holding on still thinking well this is going to be fine. You know, I believe in
1270 the technology, I believe in the whole theory of blockchain and all that. And
1271
1272 257
1273 00:50:06,240 ~-~-> 00:50:16,350
1274 again, I'm not trying to argue with people because admittedly, I don't know
1275 enough about you Bitcoin or crypto, I just look at the price chart. And that's
1276
1277 258
1278 00:50:16,350 ~-~-> 00:50:27,330
1279 all I care about. And I really wish, I wish I wouldn't have had as much interest
1280 from my students in this because it's a reoccurring email question. You know,
1281
1282 259
1283 00:50:27,360 ~-~-> 00:50:36,570
1284 what, every day I'm asking, or I'm asked by folks, they're either longtime
1285 students, or new people to this discovered me, you know, I'm in a trade, I'm
1286
1287 260
1288 00:50:36,570 ~-~-> 00:50:43,890
1289 underwater, do you think it's gonna go back to 12,000? You know, I don't
1290 personally see it going back to 12,000. You know, I don't mean that to be rude.
1291
1292 261
1293 00:50:43,890 ~-~-> 00:50:54,420
1294 I don't mean it to be, you know, foot or whatever you guys call it? I don't, I
1295 don't believe it's going to do that. I think it's going to go lower before it
1296
1297 262
1298 00:50:54,600 ~-~-> 00:51:08,670
1299 ever would consider going up higher again. If at all, you know, there's no,
1300 there's nothing stating, okay. Anywhere that this is required to go up, even if
1301
1302 263
1303 00:51:08,670 ~-~-> 00:51:11,370
1304 the technology is sound, you know, if it's
1305
1306 264
1307 00:51:12,960 ~-~-> 00:51:26,160
1308 viable, as a industry, and its long term, use and application and things.
1309 Bitcoin itself does not have to go to new highs, it doesn't even have to go 50%
1310
1311 265
1312 00:51:26,400 ~-~-> 00:51:36,030
1313 of its all time high. It doesn't even do it does not need to do that. And that's
1314 the paradigm shift that's necessary. Because a lot of you guys and gals that are
1315
1316 266
1317 00:51:36,030 ~-~-> 00:51:46,080
1318 new, you you believe anything that's being told to you. And because you're
1319 worked up in a frenzy, and you're emotionally committed, I am objective about
1320
1321 267
1322 00:51:46,080 ~-~-> 00:51:56,850
1323 it, because I don't have a horse in the race. And that's all I'm trying to
1324 promote to you is I don't have anything to gain. I just completely objective.
1325
1326 268
1327 00:51:57,000 ~-~-> 00:52:06,330
1328 I'm not swayed by any monetary gain or loss. I'm not fearful of missing any
1329 moves, because I'm never going to trade it. And I'm not trying to pump up
1330
1331 269
1332 00:52:06,330 ~-~-> 00:52:18,690
1333 something I'm holding on to and hopefully get some kind of public participation.
1334 I don't I don't have any vested stake in Bitcoin. But I would counsel you to go
1335
1336 270
1337 00:52:18,690 ~-~-> 00:52:26,700
1338 back and look at the things I've said about Bitcoin, the run up into it, I was
1339 calling 20,000. But then break for 20,000. I said, No, it's not going to happen.
1340
1341 271
1342 00:52:27,270 ~-~-> 00:52:35,310
1343 To me, people were looking for it, and the signatures for market making, putting
1344 in a top were there, and it's all on Twitter, and a couple of videos on YouTube.
1345
1346 272
1347 00:52:36,120 ~-~-> 00:52:52,020
1348 But nonetheless, I do suspect that it'll be a sloppy run you sideways, to down,
1349 that's what I think may happen, do I suspect there's going to be any, you know,
1350
1351 273
1352 00:52:52,230 ~-~-> 00:53:05,640
1353 pump and dump from where we're at right now, I don't think it needs to do that.
1354 So I think we're, we're pretty much limited to about 4000, it may go to 4150, it
1355
1356 274
1357 00:53:05,640 ~-~-> 00:53:17,010
1358 could just to go one more time above here and get folks scrambling to either buy
1359 or get stopped out because now this is an intermediate term high. But from a 60
1360
1361 275
1362 00:53:17,010 ~-~-> 00:53:27,600
1363 minute chart basis. So there is liquidity traded to this from here, they drop it
1364 down, protecting their short position that anyone would be holding short, this
1365
1366 276
1367 00:53:27,600 ~-~-> 00:53:40,230
1368 will be a good location where their retail idea would more or less provoked them
1369 to put their stop loss there. So if we rally above that, that could be an
1370
1371 277
1372 00:53:40,230 ~-~-> 00:53:50,880
1373 opportunity to see it a fade. Personally, it would be better had never gone up
1374 there at all. And just trade consolidated in here, and maybe run out some short
1375
1376 278
1377 00:53:50,880 ~-~-> 00:54:04,380
1378 term low in here. That'd be sufficient. And then go lower. Right now from a
1379 classic Chartist standpoint, retail sees this as a pennant or coil. And if I
1380
1381 279
1382 00:54:04,380 ~-~-> 00:54:12,360
1383 were making this market, I would do that very thing of this said I would only
1384 draw it out for you because you're probably not sure what I'm referring to.
1385
1386 280
1387 00:54:15,480 ~-~-> 00:54:34,170
1388 Okay, so essentially, we are looking at something like this. And again, I
1389 apologize I not real strong with the the platform here who was empty for I
1390
1391 281
1392 00:54:34,170 ~-~-> 00:54:43,560
1393 already have it all in there. But it's kind of like coiling tighter and tighter
1394 and tighter. I would if it were me driving this price, I would send it up above
1395
1396 282
1397 00:54:43,560 ~-~-> 00:54:51,840
1398 here. run those stops, it would look with a false Well, it wouldn't look like a
1399 false breakout to them. But anyone looking at these types of patterns, they
1400
1401 283
1402 00:54:51,840 ~-~-> 00:55:00,210
1403 would see that as Okay, we broke out to the upside, and they would assume all
1404 kinds of things as you suggesting it go higher. I would look forward to about
1405
1406 284
1407 00:55:00,210 ~-~-> 00:55:10,350
1408 these highs and then maybe anticipate some short selling there. And then on the
1409 other side of the suppose it coil or pennant. That's just me. I'm not saying
1410
1411 285
1412 00:55:10,350 ~-~-> 00:55:19,230
1413 it's something you should invest money in. But I'm not sharing my opinion over a
1414 price chart that I'm not invested in. Okay, so I don't even have a demo account
1415
1416 286
1417 00:55:19,230 ~-~-> 00:55:33,480
1418 for crypto. So that's the, that's the depths of my willingness to be involved in
1419 it. So let's scrunch this up a little bit, put some perspective on it. You can
1420
1421 287
1422 00:55:33,480 ~-~-> 00:55:44,220
1423 see we have a very clear discernible trendline there also, which is another
1424 reason why I said that. If we go higher, we could run this high here upset that
1425
1426 288
1427 00:55:44,220 ~-~-> 00:56:09,420
1428 trendline and then go lower to 3000 and maybe 2500. But for right now, this
1429 looks to textbook. Let's put this here. And right. There. Okay. So based on
1430
1431 289
1432 00:56:09,420 ~-~-> 00:56:13,890
1433 trendline analysis, all the liquidity is resting here. And,
1434
1435 290
1436 00:56:14,610 ~-~-> 00:56:27,060
1437 again, if we trade above this high here, this should offer near term resistance.
1438 In other words, I don't think you'll need to run this. But if we do run these
1439
1440 291
1441 00:56:27,060 ~-~-> 00:56:36,510
1442 equal highs, I think we probably made the low for the 2018 session. For Bitcoin,
1443 you may just chop around, do I think this is the low we can trade and go up to
1444
1445 292
1446 00:56:36,510 ~-~-> 00:56:48,060
1447 like 8000 or 7000? I don't personally see that. I think the markets very heavily
1448 weighted on the downside. And the question, I'll ask this of the listeners.
1449
1450 293
1451 00:56:49,560 ~-~-> 00:57:01,230
1452 Let's just say, for the sake of argument, you you're being talked to by your
1453 buddies, or you just that morbid curiosity, went online and heard about crypto,
1454
1455 294
1456 00:57:01,500 ~-~-> 00:57:14,190
1457 okay. And supposedly all the Bitcoin millionaires in Bitcoin rich, calm, blah,
1458 blah, blah. All these folks that were getting rich last year, okay, maybe you're
1459
1460 295
1461 00:57:14,190 ~-~-> 00:57:24,720
1462 inspired to trade crypto. Now, maybe you want to buy into the idea that it's
1463 going to go to 50,000 100,000? Or even finally make its way up to 20,000? If you
1464
1465 296
1466 00:57:24,720 ~-~-> 00:57:39,510
1467 are considering that. My question is, on what basis are you going to buy? Are
1468 you just going to buy because it's cheap, in terms of what 20,000? level, you
1469
1470 297
1471 00:57:39,510 ~-~-> 00:57:50,370
1472 know, or the highest high ahead, you know, high 1900s? Yeah, obviously, in terms
1473 of evaluation standpoint, it's cheap in regards to that. But ultimately, this
1474
1475 298
1476 00:57:50,370 ~-~-> 00:58:00,930
1477 thing could really just trade down to 1000, or block back below 1000. And it
1478 could still be a wonderful industry, and Bitcoin could still be used as a
1479
1480 299
1481 00:58:00,930 ~-~-> 00:58:16,650
1482 medium, it doesn't need to go up in its evaluation. And for trading, that's my,
1483 that's my reminder to all of you, just because its application is available, and
1484
1485 300
1486 00:58:16,650 ~-~-> 00:58:28,680
1487 or used does not in any way, shape, or form, constitute the merit for buying it
1488 as an investment. That's, that's all I'm suggesting to the people that are just
1489
1490 301
1491 00:58:28,680 ~-~-> 00:58:39,180
1492 watching and looking at Bitcoin. And for folks that have more or less sat
1493 through this entire decline. You are really an arm wrestling with me. Here we
1494
1495 302
1496 00:58:39,180 ~-~-> 00:58:52,980
1497 are, you know, I told you, this is going to happen. And I tried to warn you, all
1498 I stated was take your profits, and try going short. That's all and most of you
1499
1500 303
1501 00:58:52,980 ~-~-> 00:59:06,030
1502 didn't listen. And I'm not here to jab you with a sharp stick and say, haha,
1503 you're stupid. That's not the message here. I want you to not lose any more
1504
1505 304
1506 00:59:06,030 ~-~-> 00:59:14,160
1507 money because people are just throwing money at this stuff, and just pouring
1508 money into it. And you know, what are you gonna feel, you know, 510 years from
1509
1510 305
1511 00:59:14,160 ~-~-> 00:59:23,190
1512 now you look back and you can hear what I said to you. And remember what I said
1513 in tweets, it's gonna feel toxic to you. And you're gonna have animosity, you
1514
1515 306
1516 00:59:23,190 ~-~-> 00:59:30,510
1517 probably have animosity towards me, like I somehow caused all this. That's a
1518 normal feeling. Because I felt like that when I was listening to people online
1519
1520 307
1521 00:59:30,510 ~-~-> 00:59:37,470
1522 in the 90s when I was a new trader, oh, that guy. He was spreading all that bad
1523 stuff. This market was going to go down whether I said it was going to go down
1524
1525 308
1526 00:59:37,470 ~-~-> 00:59:51,270
1527 or not. All I did was point out the reasons why and when it was going to do it.
1528 So if you're thinking about buying Bitcoin, I would wait. Okay, that's all I'm
1529
1530 309
1531 00:59:51,270 ~-~-> 01:00:02,550
1532 saying. And I don't think that is a good time to buy it. No. And I just want to
1533 make sure that I made that very clear and If it protects anyone from losing and
1534
1535 310
1536 01:00:02,550 ~-~-> 01:00:12,960
1537 money, that's all it was intended to do. Okay, so number one rolling, investing
1538 and trading is you preserve your equity, your capital has to be there or you
1539
1540 311
1541 01:00:12,990 ~-~-> 01:00:20,940
1542 don't have a business. So if you're just going in here and just throwing money,
1543 or allocating money every single week, you're throwing money at the state
1544
1545 312
1546 01:00:20,940 ~-~-> 01:00:28,230
1547 constantly. Has it proven itself to you post? 2018?
1548
1549 313
1550 01:00:30,120 ~-~-> 01:00:40,500
1551 I don't think it has. So is it the death knell for crypto, maybe not, something
1552 else will happen, some other coin or some idea will come up and they'll get hot
1553
1554 314
1555 01:00:40,500 ~-~-> 01:00:49,770
1556 about that, too, if the industry is going to stay around. It's like anything
1557 else, folks? There's penny stocks that perform just like this every single year,
1558
1559 315
1560 01:00:50,460 ~-~-> 01:01:00,210
1561 every single year, and all of them had the same feelings you had when there was
1562 going up in the 1900 19,000. And it's going to the moon, it's gone to the moon.
1563
1564 316
1565 01:01:00,240 ~-~-> 01:01:09,570
1566 That's the normal market cycle. And I told you this as we were going up, and
1567 then right before the top, I say this is what's happening, we are now in mania,
1568
1569 317
1570 01:01:10,260 ~-~-> 01:01:20,430
1571 we need to reel in if you have profits in there, please take them. We're going
1572 down the 5000. And it was left that it was you know, I don't know what I'm
1573
1574 318
1575 01:01:20,430 ~-~-> 01:01:30,900
1576 talking about. I'm not a crypto trader, Don't listen to him. You're right. I'm
1577 not a crypto trader, and you shouldn't listen to me. And all I'm saying is don't
1578
1579 319
1580 01:01:30,900 ~-~-> 01:01:40,890
1581 buy it here. Because it could still go lower. And I was talking to guys, you
1582 five years ago, six years ago, and they were asking me if I was interested in
1583
1584 320
1585 01:01:40,890 ~-~-> 01:01:50,070
1586 Bitcoin and I laughed them and said, there's no way. Now maybe I'm the fool.
1587 Because I didn't trade it and I didn't participate in that they will rally. But
1588
1589 321
1590 01:01:50,070 ~-~-> 01:01:59,160
1591 I'm not confident I would have been able to pull the money out. Because if I
1592 trade I'm trading big. And if I would have been in my intended position size,
1593
1594 322
1595 01:01:59,730 ~-~-> 01:02:10,110
1596 you know, I'd be up there based on the range in terms of what the payout was.
1597 But I said then, you know, I'm not interested in Bitcoin. And did those guys
1598
1599 323
1600 01:02:10,140 ~-~-> 01:02:20,790
1601 ride all the way up to 1970? ish? and not take anything out? Are they rich now?
1602 Because I don't see any Bitcoin millionaires? I don't see I don't see him.
1603
1604 324
1605 01:02:21,510 ~-~-> 01:02:31,800
1606 There's a lot of talk on the crypto world. But I don't see anyone saying, you
1607 know, here's what I've made. And I've done it. Only the people that were
1608
1609 325
1610 01:02:31,800 ~-~-> 01:02:42,300
1611 involved in Bitcoin are the ones that sold out and even told you they were
1612 dumping it in the don't. So a lot of risks, lots of risks. And I think there
1613
1614 326
1615 01:02:42,300 ~-~-> 01:02:54,510
1616 still are risks in this. And as long as the idea is still there that it's it's
1617 okay, everything's fine. You know, we're going into a point where we're going to
1618
1619 327
1620 01:02:54,510 ~-~-> 01:03:04,950
1621 be a good buying opportunity. It still has downside. And no one is fearful yet.
1622 That's the thing, you know, when everyone's talking about is this capitulation
1623
1624 328
1625 01:03:04,950 ~-~-> 01:03:16,230
1626 is this capitulation. It's not capitulation, when it is pandemonium, crypto is
1627 dead, when you see all those types of things, and no one's talking about crypto
1628
1629 329
1630 01:03:16,410 ~-~-> 01:03:31,530
1631 being a buy. That that and only then is when it's probably probably and I
1632 underscore that maybe, okay, an opportunity to test a very small position on the
1633
1634 330
1635 01:03:31,530 ~-~-> 01:03:43,500
1636 long side. To what level? I don't know. Because the only thing the only thing
1637 I'm seeing right now is lower. And there's no real reason for it to go up. And
1638
1639 331
1640 01:03:43,500 ~-~-> 01:03:50,970
1641 that's all I got to say. Hopefully you found this video insightful on some of
1642 the crypto folks are probably thinking, well, this really doesn't do anything
1643
1644 332
1645 01:03:50,970 ~-~-> 01:04:02,010
1646 for me. I'm just trying to be a voice of reason. For those that are just now
1647 trying to put their toe in the water. I don't think it's going up from here. And
1648
1649 333
1650 01:04:02,010 ~-~-> 01:04:05,490
1651 that's all I have to say till next time which could look into training