ICT Development Concept - Scalping Exercise.srt

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ICT: Okay, folks, I give you a trading exercise. And this is

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something I did to become more consistent as a day trader.

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And if you put the time in doing this, I promise you,

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there's very few things I'm going to promise. But this is

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one thing I can promise. Your understanding about what the

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markets going to do on an intraday basis, a few times a week

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will drastically improve. Now, does that mean profitability?

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No, because I cannot promise you profitability. I am

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promising you a greater understanding of when price action

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is going to most likely do a few times a week and that's all

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you need to do very, very well in speculation. So If I can

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take your attention back to the concept I gave you in terms

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of using the daily chart, whenever we see a swing high and

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as what was tweeted this evening on my Twitter account, the

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swing high here we have a high with a lower high to the left

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of it a lower high to the right of it. Okay, once that takes

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place, we start looking for the lows to be violated. And

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every time you see the previous day's low, that's an

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opportunity for trade. Now, it's a scalping tactic. That

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means 2030 pips just about every day. This gives you a

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setup. Now, it does not give you a setup every single day in

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the same pair. It can be multiple examples of it in the same

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pair, but what I stated was it can give you a setup every

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single trading day, because some pair across all the

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universal parents. It's available to us in forex. One of

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them is going to provide this. Now the chances you ping hit

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may or may not be there, okay. But if you follow one pair at

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most two pairs, you will have something to work with every

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single trading day. It does not mean to execute live funds,

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it just means that you can practice with it. Do not discount

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this exercise. If you're looking at it in the basis of it's

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only hindsight, because some of you are not going to be able

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to do this live. Because you're under a job or your life

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circumstances don't permit the opportunity for you to sit in

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front of the charts and do it. But go back to the charts in

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in end of day capacity and look and see if what I'm teaching

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you here tonight is in fact what goes on every single

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trading day. Okay. So I want to go back to this reference

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point here. This is where a swing highs formed. price starts

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ticking down. Each individual daily low is violated until we

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get down to here. Price reacts, trades up. Now this run here

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is like a railroad track type pattern. I probably should

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have never included that in the presentation because it's

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going to make it seem like I'm a follower of just

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candlestick patterns. But just understand that this pattern

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here did not take out the swing high. Okay and soon as we

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traded below this candles low right here comes in at 117 63

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this is Sunday trading and then today's trading on Monday

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the market opens up it rallies up, forget about getting the

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Hi there was not necessary. We're focusing primarily on the

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New York session. And what we're going to be doing is we're

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gonna be looking for where the market may reach for Well,

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we've already taken out Sunday's low, we've already taken

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out Friday's low. So what will be the next objective, this

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low right here so that's our mark, okay, or target. So if we

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think in terms of being a sniper This is what we're gonna be

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targeting. Okay, this old low. Now why am I saying that this

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is a target? Well think about it in terms of support

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resistance. Price in itself showed a willingness to rally

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from that level. So we could probably see it come back down

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to that level again, and maybe it might bounce. Or maybe

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you'll go through it. No one absolutely knows this. But if

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price is above it, if prices above that low, and it's also

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bearish, then we could look for that low to be traded to as

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a minimum objective. So how much of a range that allows us

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is always going to be largely dependent on individual unique

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setups, the larger of the ranges, the better the setup. So

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I'm going to give you a exercise and we're going to map this

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out here. With this particular chart. I'm gonna maximize it

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and we're going to go into a 15 minute time frame and what I

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want you to do is I want you to think about how price was

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reaching for that level down here. It's 117 29. That's what

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that is right there.

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Okay, that's that old daily low or Target or as I refer to

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it as the mark. Okay as a sniper. So we're looking for that

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low to be retested. In this case, it went through it just a

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little bit, that's fine. It could very easily just stop

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right before hitting it and open just as well. Doesn't have

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to always go through it. Now, admittedly, I thought that we

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could possibly go through that as an objective today. And I

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was allowing the trade that I took to potentially pay that

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out to me, should it yield that much of a move below, but it

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didn't, and I actually fell asleep and didn't even have

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myself alert at the time to take off something at the

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market. Okay. Classic portion of it. Once it had come back

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above. The lower here, allow me to get right at the first

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objective in our fib for scaling, but other than that, that

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was The best I could do, and here it is. So you can see I'm

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human. But I want you to look at how every day if we're

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expecting bearishness, okay, if we're expecting lower

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prices. What I want you to do is every day that you're

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bearish right before seven o'clock in the morning, New York

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time, okay? I want you to tell it, like take a look at what

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the markets doing, if you're bearish and we'll say that we

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were bearish here on Friday. Okay. Now in this regard, I'm

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speaking specifically in light of hindsight only. Okay, so I

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have to tell you that this because I'm talking about in

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hindsight here doesn't mean it's going to be as it is in

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this chart, but it's going to be very close to it in theme,

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okay. It's gonna have a lot of similarities to it. And

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you'll, you'll see what I mean by that in a minute. Okay,

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what I've done is I've added seven o'clock in the morning,

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my vertical line here on each respective trading day last

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few days, and also noted the previous day's lows. So now I'm

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going to do is remove the vertical line delineations that's

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seen in the chart and only leave the seven o'clock in the

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morning, New York time reference points. Alright, so now

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what we have here is we have some days trading here Friday's

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low right in here. And here's Thursday's trading over here.

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So we're going to look at what we have in terms of a drill

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or exercise we can do every single trading day, but you have

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to first know what you're looking for in terms of bias now

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doesn't mean gonna be right every day. It just means that

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you have to work in this framework, know what is most likely

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going to be a directional bias today, based on what the

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daily charts shown, is it going to be running the lows or

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it's gonna be running the highs if we are bearish and we're

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going to assume that today we were bearish and For folks

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that are in my mentorship group, we had already mapped out a

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probable scenario, and in terms of my commentary with them,

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so they know that this was the most likely scenario going

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forward for Euro, at least using my concepts, but most of

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you that are watching don't have that availability. So I'm

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going to give you a very simple approach using what we have

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already arrived at since I've been back on social media and

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YouTube, the element of looking for optimal trade entries in

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a day. Okay, and when we're bearish, I want you to focus on

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seven o'clock in the morning. Let me take the day dividers

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off now sadly, you can focus primarily on seven o'clock in

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the morning, each individual trading day. So here's Friday

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trading in here, okay, and Friday's trading. I want you to

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notice we came back up to this low right here today intraday

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now this level many times would not be even considered with

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standard support resistance ideas. But this level here is

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important because it's a swing high to swing low. And we

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mentioned in the went series with every new and aspiring

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forester wants to know, we have to use these reference

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points because they may end up becoming reused in the

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future. Okay, so I also want to again, add dividers again.

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You can see that this is Friday's daily low here Sunday's

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trading, we made it a lower low on Sunday and then we start

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trading on Monday higher and take that back off, and we had

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a little bit of a gap in here and you'll learn about that

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that's this is whiplash and then catapult. Okay, very simple

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little pattern for Sunday. I don't trade it anymore. It's

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nice to see when it occurs, but it's not that big of a deal.

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But I want you to see how at seven o'clock in the morning

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One is mt four platform this demo account 1100 is seven

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o'clock in the morning New York time.

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I want you at that moment. Wake up, check your your charts,

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you can do it on your smartphone. And if you're bearish

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you're going to be looking for price to rally up at least 20

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pips or more. Okay, if it does this and you're bearish then

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what you want to do is you want to anchor a previous high to

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the low prior to that seven o'clock in the morning rally up

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at least 20 pips. Okay when you see that start hunting

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optimal trade entry shorts. In this case, we can zoom in a

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little bit here seven o'clock in the morning today, Monday,

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October 23 2017. The market shows an initial decline. We're

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not looking for that we want to see it start to rally up 20

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pips, what is it doing? It's retracing intraday on eight

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That's primarily bearish and the high was set during but

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what time of day is this? It's exactly two o'clock in the

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morning New York time. What did I say in my videos regarding

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pilot day, here's Monday's trading it trades up creates a

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very high the day between two o'clock and four o'clock in

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the morning New York time. That's the higher today. It

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trades down after seven o'clock in the morning you want to

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see a rally up of 20 pips or more, but not take out the

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London high. Okay, it has to get close proximity to the high

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but only up to 79 retracement level. So if we look at that

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we can see that relationship between the open down to the

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lowest body candle right here prior to this rally up. Now

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this is equal this open and this closes equal 117 35 but

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price trades right back up to the 70.5 level. And it's also

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Fridays old well with us. Lowe says a confluence of things

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happening right there. Now, if you were to use Wix, I just

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want to throw this in there for completeness sake, I don't

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advise doing this. But we're comparison, you can do this and

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see, we still get exactly right to the 70.5 level precision,

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okay? Now, I don't require that for entries. I will allow

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myself to use the bodies of the candles and it'll get me

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close enough. But if you want to be a nutcase about

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precision, you can get that surgical with it, okay, you're

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going to miss some setups because your orders won't get

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filled. And that's going to be problematic for you. But

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that's the reason why I use the bulk of the volume with the

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bodies. Okay, so again, seven o'clock in the morning, which

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is my platform here for my demo. It's 1100. So when it

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rallies up 20 pips? Well, we have 1735. So that would mean

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you have to go up to at least 1755. It does that here and it

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does it here. It has to do that and find an overlapping of

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optimal trade entry, which it does here. So at least 62%

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retracement level and it's pit rally after seven o'clock in

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New York time in a bearish day anchor to the London high

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optimal trade entry short What are you targeting? intraday

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low, and then the next daily low. Okay. And you can see as I

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showed on the video earlier 117 25 gets us really close to

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that level, the actual low here on this platform, I'm going

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to pop up here low comes in at 117 25. This fib takes us

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down to like 117 24. And just for completeness sake, I'll

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put this back up here like that. And down here like that. So

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if it's on the wicks, we are really far away in that target

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then, but using the bodies, it gets us much closer to the

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objectives that I outlined just now. Now everything I've

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just said here, you would reverse when it's bullish, you

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would expect a retracement lower after seven o'clock in the

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morning and expect that run higher and again This is a

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scalping technique. It's for something like 2030 pips type

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move intraday couple times a week, but that's all you need.

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Remember 23 pips, risking 2% of your account can make a

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double of your account or basically double your account over

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a course of a year. So hopefully you found this insightful.

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Until next time, I wish you good luck and good trading.