ICT Market Maker Primer Course - 11 - Implementing The Asian Range.srt

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ICT: Okay folks, welcome back. This teaching is coming

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specifically dealing with implementing the Asian range.

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All right,

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the Asian range. Notice it does not say ICT Asian range. I

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did not create this or author this concept. My first

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introduction to it was from another trader, which I'll

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mention later on in the presentation, but what ICT concepts

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we're going to use in this module we're gonna be introducing

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the Asian range. Let me defining what the Asian range is and

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charts and I'm going to teach you how to utilize it in both

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conditions and how to utilize it in bearish conditions.

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Alright, introducing the Asian range. Now, what is the Asian

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range? Well, the price action prior to the Frankfurt open,

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or London opening can be very indicative of the future

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intraday price movement. Now when we have a directional

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bias, you can use this Asian range to build or frame a

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context or storyline to the markets likely intentions.

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There's a stillness in price many times right before the

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intraday directional impulse

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price swing.

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You look at the chart here on the right, this is an Aussie

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dollar chart. You can see that there is a little shaded area

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right in here. And it's delineated with the gray shaded box.

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And I've labeled it not surprisingly, the Asian range. So

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this little piece of price action. Okay. I actually learned

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about this from Chris Laurie, and

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I'll show you

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what I was doing before I learned this. So You can see I

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already had a beat on what price should be doing. But when I

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first saw him refer to it in his free teachings, he has a

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website. Chris Laurie calm. It's changed and morphed a

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little bit over time. But folks that have gone through his

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material that know who I'm referring to, they would not in

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agreement that they would know what I'm saying is true. He

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taught about the Asian range many times in free teachings.

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So it's not like I'm taking anything away from him. In fact,

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if you're not happy with what you see in my content, but you

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do want to take some advice from someone that has seen a lot

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of things out there, Chris Laurie has a lot of good price

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action study and his methods.

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While

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they are not mind, there's some similarities to what Chris

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does, but I'm gonna show you what I took away from him. This

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is the only thing I really learned from Chris Laurie really,

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but and that's not to diminish his importance as a teacher

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what he knows On the saying that this is what I gleaned from

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his material, I liked it because I was already familiar with

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using consolidations in certain periods of trading 24 hour

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period. If you take certain ranges, you can do some magical

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things with them. And I teach you that in the mentorship.

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And it goes well beyond what I've done in YouTube videos

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over the past couple of years.

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So what I liked about it was,

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I seen a lot of context right away when I seen how that the

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range is applied to the chart. So I'll give you what I used

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to do, and how I used entry techniques to do it so that we

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have a little bit of a takeaway, not only just talking about

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the range itself, but what we can do with it. And then I'll

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show you what I've done with it to incorporate it. Now I'm

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not teaching you everything I know about this range, and

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what I've done with it over the last

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10 years or so, the

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implement of It, I think is useful for a developing trader.

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But there has to be some context behind it. The range itself

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doesn't produce anything magical. But if you have a

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storyline behind what price should be doing that particular

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day, it is unbelievably helpful. Okay, so let's define the

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Asian range. What is it that we can do on our charts to make

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it appear and draw our attention to it? Well, the range

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begins at 7pm New York time and ends at midnight, New York

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time now as a special inclusion here. Chris Laurie had his

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Asian range pushed beyond midnight. If my if memory serves

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me correct, I believe he had 12:30am. And to me, the

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financial markets really begin at midnight New York time, it

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probably sounds pretty arrogant of a gank like me, me In the

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States, but if you just study what I'm teaching you folks,

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you'll see right away what I'm telling you is the gospel as

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it relates to intraday price action only. Now everything

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else might be something different, but as far as intraday

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price action, I think have cornered the market in intraday

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price action. So the height of the range is the highest high

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between 7pm to midnight, New York time, to the lowest low

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between 7pm and midnight, New York time. The width of the

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range is obviously the duration of 7pm to midnight, New York

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time. So let's take a look at this chart here. And we'll go

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a little bit closer and zoom in on it. Okay, we'll cover

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some points here. Now, right away, when you see this, it

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probably still doesn't give you any kind of insight, and

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that's fine. But I'm going to build on it and show you how

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useful it is. But we're going to build the model with

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specific buy and sell conditions later on in this video, but

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for now, take a look What you see here, okay, and kind of

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like burness in your mind, your focus should every single

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day be zeroed in on 7pm, New York. And whatever that time is

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on your broker's platform, whatever your charting platform

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or package shows, find out what time it is at 7pm, New York

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time, and then find that same time on your charts. That's

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where you put a vertical line. And that begins the asian

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session. And then five hours later, it'll be midnight, New

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York time, put another vertical line in and there's your

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Asian range defined by the duration, the highest high in the

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lowest low is what we would use to frame out the range. Now,

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there's a lot of Voodoo that you can do with this range.

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Okay, and again, I'm not teaching you here, but believe me,

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it can take you to the highest and the lowest Tip of the

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Day. There's some things you have to incorporate in that and

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I teach that in the mentorship but for now, I teach you a

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very simple approach to it. Use this. And when you can

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filter out trades and not do anything that may end up taking

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a loss if you do otherwise. So let's take a closer look and

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remove all of the benefit of seeing the price action there.

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Okay, now we do have the benefit of hindsight. But

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nonetheless, I want to kind of build an understanding about

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what this range does, or at least my interpretation of it,

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and how I was able to see right away the importance of

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utilizing it in my view on price action. During this range,

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what's actually happening is there's orders that are coming

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in, in are stacking up above the market and below the market

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relative to that range. And it's also building up a market

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sentiment. Now this compression of market participation

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starts to build up closer and closer and closer until we get

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to midnight in New York. Soon as we cross over midnight time

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in New York. We are in fertile ground for price movement.

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We're going to assume that everyone in this listening

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audience is familiar with channels, okay, or trading ranges.

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The idea is above this range, there's going to be buy

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orders. Those buy orders are going to act as breakout

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artists, okay. In other words, they are not astute to know

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how to buy when it's a low price or technically oversold

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without the use of indicators. So they just want to be

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buying on strength. And there's really nothing inherently

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wrong about that if you know what you're looking for. But

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most traders don't know what you're looking for. And they

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just go in any willy nilly an entry based on breaking out

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above and behind, they'll buy that and be that a strength

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and that puts a stop loss right below the low which would be

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here. short sellers would do the opposite.

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They would have their sell orders below this range. So any

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movement Lower, would hopefully put them in a short position

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and they would take the other end of that range and put

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their protective buy stop. So buyers that want to break out

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above this consolidation are going to buy want to stop with

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a protective cell stop below the low. short sellers want to

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sell on a stop and use a protective buy stop above the high.

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Okay, so the storyline is, what are we going to do? After

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midnight, which is this vertical line here? What's the

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storyline? Where are we going to go? My whole entire career

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has been based on understanding this phenomena. And it's

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been a more or less a pursuit of excellence. So I want to

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know what the highest probability which side are they going

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to work on. Okay. And what I mean by that is, are they going

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to try to put a specific party of traders whether it be

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bullish or bearish traders in on the wrong side right before

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London creates

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what? The higher low of the day. So

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the key is, and this is the takeaway so far and this this is

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what should be in your notes right now is what you're

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looking for. What sets up the opportunity, if you will, for

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the particular trading day is if we have a very narrow

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consolidated range between 7pm and midnight, or will we be

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deemed as the Asian range. So if you have a very narrow

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consolidation there, that sets up a huge possibility of the

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algorithm going into a trending model. Okay, so in other

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words, without going into after teaching anything really

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about that the market will seek the liquidity above or below

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this range with a premise that it's going to put them in the

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wrong side. And then it'll go the other way for the

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remainder of the trading day.

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Okay, so let's take a look at how we can utilize it in a

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bullish condition. Now, the periods when prices bullish, we

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can extend the Asian range high and low into the future.

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When price returns back to the Asian range high, we can

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anticipate institutional buying. Let's take a look at that.

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As an example here. We're going to assume that we have an

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understanding or expectation, if you will, the Aussie dollar

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was bullish for this particular day. Now, if you want to

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know what would lend well to coming to that conclusion of

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being bullish, if you look at the daily chart, you'll see

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that there was a reason for the Aussie dollar reached up to

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a equal high. Okay, go down to a four hour or one hour

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chart. You'll see also that it's obvious you can see it so

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far what we've shown in the teachings in this series, it's

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been pretty obvious to know where the liquidity is. And

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that's what this whole day was reaching. To buy stocks above

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equal high. Now, again, I want to take off the Asian range

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and provide just a blank chart. Okay and assume for a

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moment, pre my exposure, okay to Asian range. This is what I

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used to do. Okay, this is how I actually traded. And I was

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doing this since 1994. So

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your appreciate, hopefully the

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evolution, if you

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will, of my understanding about how this whole buying below

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the open when it's bullish or selling above the open when

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it's bearish. All those ideas came from this individual

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specific element that I'm going to show you now. I would

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have on my chart, list of all kinds of indicators, okay, so

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I'm going to spare you all that. But if we just look at

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price actions as a naked form of open house, loan close, it

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can be rather

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confusing.

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But if you look for specific times of the day and specific

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generic concepts or characteristics that should manifest

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themselves, then there's a storyline that will start to

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develop and you get this over the years. Many times. It's

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referred to as tape reading many times it's referred to as

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gut feeling, or just triggers intuition or just laughs I

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call it intuition and experience if you will, once you know

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what you're looking for, you wait for that scenario to

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unfold. So this is what I would have done without the Asian

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range. This is how I always treated the SMP. The bond market

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and currency futures. We get the opening price at midnight.

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Okay, and that opening price is seen here. Right there. And

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all I do is draw that opening price out all the way out

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until 11 o'clock in the morning, New York time now The

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reason why I would draw it out till 11 o'clock in the

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morning New York time is because that would be the end of

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the morning trend for the s&p 500. Okay, so that there's a

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reason for that hour, it's not that I'm just pulling that

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number out of the air. It's also very close to what was

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taught in the previous teaching the London clothes. So

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that's what makes that London clothes scenario. It's the end

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of the trend on the stock market or equities market in the

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States. Also, it overlaps conveniently enough with the close

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of London trading, so there's a little bit of manipulation

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that goes on in there and some profit taking so it creates

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an opportunity, but for opening range concepts, I draw it

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out to 11 o'clock in the morning, New York time. Okay. So if

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we are looking for a bullish scenario, and I'm gonna just

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make the case that we would be expecting a higher Aussie

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dollar here. I want to See price initially dropped down

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below that opening price. Because I want to be buying below

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the opening price. The understanding is I want to figure out

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what Larry Williams said he couldn't do as a teacher. I took

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it as a challenge as a student. That's what I'm going to

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look for. I'm going to figure that out. And this is what my

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interpretation of how to do that very thing was seen in

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price action, I would use the opening price as it dropped

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down, I would buy right there. Now, if I either did not have

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the guts to do that, or I missed the opportunity, sometimes

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I would wait for a specific price. It wouldn't get there and

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then it would take off. If I saw a reversal, or potential

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reversal, I would look at the high right but right before

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the drop down in here, you can see there was a small little

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segment of price action. Right before that drop down. I

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would put a buy stop right there. Now as I graduated in my

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understanding, I would look to Get in as price was dropping

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down. But I also have this buy stock in place. Even if I was

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able to get in many times, price would sometimes snap me in

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and put me in on the buy stock and on my market order as

250
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price was dropping down. So in other words, what I was doing

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was, I was waiting for price to drop down below this

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00:16:21,420 --> 00:16:25,950
horizontal line or trend line segment here. Okay, that's

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delineate nucleon price at midnight, New York time, the drop

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00:16:29,070 --> 00:16:33,030
down below that I'm hopefully trying to buy that. Now, as it

255
00:16:33,030 --> 00:16:36,750
starts to drop. My eye goes right here, because now we're

256
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below the opening price. It may go lower and give me my

257
00:16:40,260 --> 00:16:44,700
ultimate price of entry, but it may not. So as soon as it

258
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starts to break down after midnight and it goes back back

259
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down below the opening price. I immediately add a buy stop

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to half the position I want to trade at this point here. So

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in other words, if my full position down here was say 10

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00:16:57,000 --> 00:17:01,440
standard lots. I would go in with a BA Stop at five standard

263
00:17:01,440 --> 00:17:04,800
lots right here. So that way it worst case scenario, if I

264
00:17:04,890 --> 00:17:08,370
don't get my fill here and it reverses, if you will, and

265
00:17:08,370 --> 00:17:12,240
runs real quick for these ties, it'll put me at least half

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00:17:12,240 --> 00:17:14,850
the position I wanted to get on down here. So half of

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something is better than nothing. If I were able to put on

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00:17:18,000 --> 00:17:23,310
the full position down here, I would still try to take this

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00:17:23,310 --> 00:17:26,790
stop off, if I get my full position on down here. Sometimes

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I wasn't able to do that. Now the problem is in your mind is

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okay, what happens if you put your poor position down here,

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00:17:32,730 --> 00:17:37,590
and you're risking 2%? Well, I wasn't risking 2%. So I'm

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00:17:37,590 --> 00:17:41,370
trading at 1%, one and a half percent. And then this

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00:17:41,370 --> 00:17:44,700
position here, if it feels me I'm not over leveraged, or if

275
00:17:44,700 --> 00:17:48,510
I do get one and a half percent on here in this half here.

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00:17:48,660 --> 00:17:50,370
It would technically put me over two and a half percent

277
00:17:50,400 --> 00:17:54,210
risk. But I'm going to be more aggressive about trailing my

278
00:17:54,210 --> 00:17:57,030
initial stop loss up to try to pare that down to 2%.

279
00:17:57,210 --> 00:18:00,420
Okay, and that's really what I was doing now. Now let's

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contrast what I just did here with the implementation of the

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00:18:06,210 --> 00:18:08,760
Asian range and this is exactly where price would fill you.

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With that buy stop being tripped. So now I would be long

283
00:18:13,260 --> 00:18:15,480
here. If I didn't get filled down here below the opening

284
00:18:15,480 --> 00:18:18,030
price at midnight, this would be where my buy stop was

285
00:18:18,030 --> 00:18:21,480
filming in my stop loss would be below the low. You can see

286
00:18:21,480 --> 00:18:24,690
I'd have to weather this retracement here, and then

287
00:18:24,810 --> 00:18:27,420
eventually catch the move later on in the day. Now let's

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take this discussion back the implementation of the Asian

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00:18:30,810 --> 00:18:35,760
range. And I'll show you how I evolved and seen a much

290
00:18:35,760 --> 00:18:39,540
clearer view on price action using the range as I define it

291
00:18:39,540 --> 00:18:43,950
here. Seven o'clock pm, New York time to midnight 00 level

292
00:18:43,950 --> 00:18:47,040
not like 1230 or one o'clock in the morning on that stuff.

293
00:18:47,310 --> 00:18:52,350
Exactly. At midnight. Okay? Because what we're banking on is

294
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the midnight opening price. That's what sets the algorithm.

295
00:18:57,570 --> 00:19:01,440
It goes through a it goes to a reset If you if you want to

296
00:19:01,440 --> 00:19:04,530
think of it like that. So if we're bullish, it's going to go

297
00:19:04,530 --> 00:19:09,450
below the opening price to seek liquidity, and then go

298
00:19:09,450 --> 00:19:12,570
higher and spend the rest of the day going higher. When it's

299
00:19:12,570 --> 00:19:15,750
bearish, it'll go above the opening price at midnight, to

300
00:19:15,750 --> 00:19:19,470
reach for liquidity, and then move lower for several hours

301
00:19:19,470 --> 00:19:20,910
going into London close or

302
00:19:21,300 --> 00:19:23,400
New York open. So

303
00:19:24,660 --> 00:19:27,780
now let's take a look at what's actually going on with the

304
00:19:27,810 --> 00:19:30,750
implementation of the Asian range. Now we have a tight Asian

305
00:19:30,750 --> 00:19:31,410
range in here.

306
00:19:31,950 --> 00:19:32,520
Okay,

307
00:19:32,610 --> 00:19:36,180
and again, buyers are above the range sellers are below the

308
00:19:36,180 --> 00:19:42,060
range. Price right after midnight does what goes up and taps

309
00:19:42,120 --> 00:19:45,300
the Asian range high. Now you're saying okay, well, it

310
00:19:45,300 --> 00:19:49,590
didn't go above it. Let your stop, be there. And I guarantee

311
00:19:49,590 --> 00:19:53,010
you that broker spread will open up wide enough to get that

312
00:19:53,520 --> 00:19:56,730
and you'll be in long as your stop loss which will be right

313
00:19:56,730 --> 00:20:00,330
at that low or just below it will be tagged right They're,

314
00:20:01,620 --> 00:20:04,410
even though it reflects here, your broker and this is what

315
00:20:04,410 --> 00:20:07,650
you sign up with. When you open up your account. You are

316
00:20:07,800 --> 00:20:12,480
giving them permission to open the spreads up on you.

317
00:20:13,110 --> 00:20:15,570
Everybody makes this big complaint about, Oh, well they did

318
00:20:15,570 --> 00:20:19,860
this they did that you sign it and you agree to it. So when

319
00:20:19,860 --> 00:20:22,290
you see people online saying that they trade with three pips

320
00:20:22,290 --> 00:20:25,470
stop losses. That's not true. It's not accurate and they are

321
00:20:25,470 --> 00:20:28,740
not doing it with live accounts because believe me, in house

322
00:20:28,740 --> 00:20:31,740
funny money gains with the brokers would eat them up

323
00:20:31,800 --> 00:20:36,180
immediately. It would not happen, okay. I think personally,

324
00:20:36,270 --> 00:20:41,760
with a stop loss of anything less than 10 pips is just

325
00:20:41,760 --> 00:20:46,080
ludicrous. It's stupid. Okay? Because Begley is from a

326
00:20:46,110 --> 00:20:49,650
retail broker standpoint, you're inviting them to take your

327
00:20:49,650 --> 00:20:52,980
stock. It's just the way it is. You can argue with me and

328
00:20:52,980 --> 00:20:54,630
give me all kinds of track history and say, Well, I'm

329
00:20:54,630 --> 00:20:57,120
trading with a five PIP stop here and there. That's fine. Do

330
00:20:57,120 --> 00:21:00,450
it 10 years and see how many times get burned the point is

331
00:21:01,230 --> 00:21:05,310
why offer yourself up on the altar for that sacrifice, when

332
00:21:05,310 --> 00:21:09,360
there's better ways of doing it. You don't have to have less

333
00:21:09,360 --> 00:21:13,530
than 10 pips stop losses to do very well. We have an Asian

334
00:21:13,530 --> 00:21:15,810
range in here with the understanding or in this model we're

335
00:21:15,810 --> 00:21:20,580
going to expect bullishness, okay, and price starts to go up

336
00:21:20,730 --> 00:21:25,110
initially, and comes back down and breaks the Asian range

337
00:21:25,410 --> 00:21:30,300
down here. So we take out the low on the Asian range that's

338
00:21:30,300 --> 00:21:34,230
been extended beyond midnight. That trips in sellers and it

339
00:21:34,230 --> 00:21:36,570
also knocks out individuals that would have been pulled in

340
00:21:36,930 --> 00:21:40,950
on a buy stop right at this level. So long holders are in

341
00:21:41,460 --> 00:21:45,540
and now they're out. shareholders are in now and their stop

342
00:21:45,540 --> 00:21:49,770
losses above here or here. So they're taking both sides of

343
00:21:49,770 --> 00:21:53,790
the marketplace in now. And then the market takes off goes

344
00:21:53,790 --> 00:21:58,770
higher. What we look for is this little movement right here.

345
00:22:00,240 --> 00:22:01,200
That movement

346
00:22:01,470 --> 00:22:04,350
is what sets the tone when we're bullish, we wouldn't be

347
00:22:04,350 --> 00:22:08,160
buying there. Or we can do what I showed earlier. You could

348
00:22:08,160 --> 00:22:13,770
put a buy stop right here, it gets filled, a contingent

349
00:22:13,770 --> 00:22:17,550
order that would be if I'm filled with your broker, or

350
00:22:17,550 --> 00:22:21,330
cancel order, basically, if we have a parent contingent

351
00:22:21,330 --> 00:22:25,200
order, suggesting they who buy on the stock, if that stock

352
00:22:25,200 --> 00:22:28,830
gets filled, if it happens, then we would place a sell stop

353
00:22:28,830 --> 00:22:33,000
below this low at some specific price level. And you could

354
00:22:33,000 --> 00:22:35,760
leave that in the marketplace and go to sleep. And don't

355
00:22:35,760 --> 00:22:38,370
even worry about watching all this stuff. Okay, there's one

356
00:22:38,370 --> 00:22:43,590
way you can apply a day traders model and or enter with a

357
00:22:43,590 --> 00:22:46,590
long term model but using a day traders approach to trading

358
00:22:46,710 --> 00:22:47,430
that whole

359
00:22:47,640 --> 00:22:48,090
entry.

360
00:22:49,890 --> 00:22:53,220
If you've missed this one, okay, and price starts to rally

361
00:22:53,220 --> 00:22:56,730
away. We have to have the storyline behind this example of

362
00:22:56,730 --> 00:23:01,500
being bullish. Otherwise, this could be an easy Sell, as

363
00:23:01,500 --> 00:23:03,090
you'll see when we talk about when the conditions are

364
00:23:03,090 --> 00:23:07,080
bearish. But knowing where the market is most likely trying

365
00:23:07,080 --> 00:23:11,880
to go from a higher timeframe standpoint, is significant and

366
00:23:11,880 --> 00:23:14,790
crucial in utilization of the Asian range. Otherwise, you're

367
00:23:14,790 --> 00:23:17,130
just going to do things that aren't going to be profitable.

368
00:23:17,250 --> 00:23:21,240
So if we're bullish, we, we'd like to see this element here.

369
00:23:21,660 --> 00:23:25,320
And then this year, no problem. We don't need to get that

370
00:23:25,470 --> 00:23:27,570
and we don't need to be a part of this move here. Okay, we

371
00:23:27,570 --> 00:23:31,110
want to wait for price to come back down and touch the Asian

372
00:23:31,110 --> 00:23:34,860
range high. Now it does. So here that's a little early. And

373
00:23:34,860 --> 00:23:39,210
then we do it again in the New York open. So New York open

374
00:23:39,240 --> 00:23:42,870
we see price trading back to the Asian range high. Right

375
00:23:42,870 --> 00:23:46,230
there is where institutional buying is gonna step in. Why

376
00:23:46,230 --> 00:23:49,500
are they doing that? Because the initial range that was set

377
00:23:49,500 --> 00:23:53,760
between 7pm and midnight, midnight is when into the

378
00:23:53,760 --> 00:23:58,740
interbank price delivery algorithm resets and then it

379
00:23:59,220 --> 00:24:03,570
attacks Open liquidity for the open float, which would be

380
00:24:03,570 --> 00:24:06,000
the orders above the Asian range and below the Asian range.

381
00:24:06,270 --> 00:24:09,030
All right, you know, you're gonna know 15 different people

382
00:24:09,090 --> 00:24:11,700
that work at a bank or they know somebody they smoke cigars

383
00:24:11,700 --> 00:24:13,980
with on the weekends, and they are a market maker, they're

384
00:24:13,980 --> 00:24:16,770
gonna say what I just said to you is nonsense. But I'm

385
00:24:16,770 --> 00:24:19,920
telling you, they don't know what you're talking about,

386
00:24:19,920 --> 00:24:23,670
because I'm doing this daily to the PIP, week after week,

387
00:24:23,670 --> 00:24:26,880
day after day. And I'm telling you, it's not based on

388
00:24:26,880 --> 00:24:30,060
anything else, except for what I learned. Okay, and some of

389
00:24:30,060 --> 00:24:34,020
the things are going to go in the category of tinfoil hat.

390
00:24:34,320 --> 00:24:36,630
And I'll just let you wrestle with that. I don't really care

391
00:24:36,630 --> 00:24:39,660
about your opinion. Just know that what I'm suggesting to

392
00:24:39,660 --> 00:24:43,260
you here, if you look at it in price action, it's there. So

393
00:24:43,500 --> 00:24:47,250
we can see the optimal trade entry. From this low to this

394
00:24:47,250 --> 00:24:51,420
high retrace back down New York open overlap with the Asian

395
00:24:51,420 --> 00:24:54,570
range high with the storyline is that we're bullish on the

396
00:24:54,570 --> 00:24:58,890
higher timeframe. Beautiful illustration of a Asian range

397
00:24:58,890 --> 00:25:01,740
application in bowls can be And then off to the races we go.

398
00:25:03,840 --> 00:25:07,830
So we have two opportunities in here in the New York open,

399
00:25:08,250 --> 00:25:10,680
and we have one set up here that gives us a really, really

400
00:25:10,680 --> 00:25:17,370
low end entry point with very little risk in terms of our

401
00:25:17,370 --> 00:25:21,660
entry and then the subsequent move higher. The other portion

402
00:25:21,690 --> 00:25:25,350
would be entering on a stop here about the Asian range, but

403
00:25:25,350 --> 00:25:29,400
you wait you have to sit up and you have to wait for price

404
00:25:29,400 --> 00:25:32,580
to drop down below the Asian range, then you buy want to

405
00:25:32,580 --> 00:25:34,800
break above the Asian range high, but the conditions have to

406
00:25:34,800 --> 00:25:38,850
be bullish. And we have to first see Asian range low break

407
00:25:39,030 --> 00:25:41,490
than a buy stock can be placed at the Asian range high. If

408
00:25:41,490 --> 00:25:45,750
you do this before. The Asian range low is taken, you will

409
00:25:45,750 --> 00:25:48,870
get burned, you will get stopped out. You will send an email

410
00:25:48,870 --> 00:25:52,290
saying doesn't work. I'm telling you, there's rules here and

411
00:25:52,290 --> 00:25:55,110
it is given to you. rewind the video and read listen to it

412
00:25:55,110 --> 00:25:56,400
again. It's very clear

413
00:26:01,949 --> 00:26:04,769
Alright, so utilization of the Asian range in bearish

414
00:26:04,769 --> 00:26:07,319
conditions. Okay, again, like we said, but when it's

415
00:26:07,319 --> 00:26:09,539
bullish, there's a period it's quiet

416
00:26:09,929 --> 00:26:11,849
right before the Frankfurt, London open.

417
00:26:12,689 --> 00:26:14,519
And we begin focusing on that. And when it's in a tight

418
00:26:14,519 --> 00:26:17,939
narrow consolidation, we're going to be looking for some

419
00:26:17,939 --> 00:26:21,869
measure of manipulation, if you will, on price action. So

420
00:26:22,589 --> 00:26:24,959
what we're gonna be doing is waiting for a break in the

421
00:26:24,959 --> 00:26:27,689
Asian range low and then when price trades back up to it,

422
00:26:27,839 --> 00:26:31,049
we're gonna be anticipating institutional selling. So let's

423
00:26:31,049 --> 00:26:34,919
take a closer look at this example here. zoom in here, some

424
00:26:34,919 --> 00:26:42,089
more detail. Now this image burning for a minute. Okay. And

425
00:26:42,089 --> 00:26:46,649
now we're going to take it off and go to an element of naked

426
00:26:46,649 --> 00:26:51,089
price action. And I'm going to show you what I was doing

427
00:26:51,329 --> 00:26:56,579
prior to learning about the Asian range. There's the opening

428
00:26:56,579 --> 00:26:57,209
price again.

429
00:26:58,710 --> 00:26:59,400
This candle

430
00:27:00,780 --> 00:27:04,680
I would be looking for bearish price movement. And if we're

431
00:27:04,680 --> 00:27:07,740
going to just suspend your disbelief whether or not I was

432
00:27:08,190 --> 00:27:10,980
actually bearish before this day or not, trust me and go

433
00:27:10,980 --> 00:27:13,680
through my Twitter, you'll see all kinds of examples of me

434
00:27:13,680 --> 00:27:17,760
doing this very thing. But nonetheless, we're gonna assume

435
00:27:17,760 --> 00:27:21,270
for sake of argument that we're bearish on this particular

436
00:27:21,270 --> 00:27:24,450
currency, that thing, okay, we're going to be looking for

437
00:27:24,540 --> 00:27:27,180
price movement above the opening price. That's what I'm

438
00:27:27,180 --> 00:27:30,960
looking for here. Okay. Now, I learned early on that these

439
00:27:30,960 --> 00:27:36,030
levels, these double tops, they were fake outs. And that's

440
00:27:36,030 --> 00:27:39,720
why I loved the turtle soup trading pattern that I learned

441
00:27:39,750 --> 00:27:42,240
in a book called street smarts. And if you don't have it,

442
00:27:42,240 --> 00:27:44,730
you should buy it. It's a very, very good book. But that

443
00:27:44,730 --> 00:27:46,980
pattern in there resonated with me because I was already

444
00:27:46,980 --> 00:27:47,790
doing things

445
00:27:48,060 --> 00:27:48,960
similar to that.

446
00:27:50,070 --> 00:27:52,410
And I would just look for those equal highs and equal lows,

447
00:27:52,560 --> 00:27:54,630
which I've already taught you in this series. And right

448
00:27:54,630 --> 00:27:57,480
away, there's a large number of you in our community that

449
00:27:57,480 --> 00:27:59,610
are just going through the roof right now with excitement

450
00:27:59,610 --> 00:28:03,180
cuz now you see something that's always been there. But now

451
00:28:03,180 --> 00:28:06,060
you see it. And it's useful to you, you can see where prices

452
00:28:06,060 --> 00:28:09,360
are drawn to. Well, if we see this time of day, and this is

453
00:28:09,360 --> 00:28:12,690
midnight, and we're bearish, we have equal highs in here.

454
00:28:12,990 --> 00:28:15,990
Right away, I want to know there's going to be a rally above

455
00:28:15,990 --> 00:28:19,080
the opening price. And I extend that out in time, about one

456
00:28:19,080 --> 00:28:22,500
o'clock in the morning, New York time. And anytime price

457
00:28:22,530 --> 00:28:25,440
trades above that opening price, and it's inside of a kill

458
00:28:25,440 --> 00:28:33,120
zone, that means the London or New York open kill zone. If

459
00:28:33,120 --> 00:28:35,610
it trades above that opening price, I will look to go short.

460
00:28:36,390 --> 00:28:41,340
Now, if we go above it, and this is what I was doing, before

461
00:28:41,340 --> 00:28:43,830
I started incorporating the Asian range concept. I would

462
00:28:43,830 --> 00:28:46,620
just simply look for this rally above. If I got this

463
00:28:46,620 --> 00:28:49,590
scenario here, I was selling right there. I would sell

464
00:28:49,590 --> 00:28:53,340
short, the SMP, I would sell short Deutschmark. I would sell

465
00:28:53,340 --> 00:28:57,210
short the Swiss franc, I would swell, the yen, all those

466
00:28:57,420 --> 00:29:00,300
commodity futures contracts. That's what that was. As my

467
00:29:00,300 --> 00:29:03,090
entry technique right there, and then I would go to sleep

468
00:29:03,270 --> 00:29:05,370
and wake up around five o'clock and mourn, hopefully I get

469
00:29:05,370 --> 00:29:08,400
some profit. And I would take something off, try my stop

470
00:29:08,400 --> 00:29:10,470
loss really, really tight sometimes get stopped out other

471
00:29:10,470 --> 00:29:15,690
times, it would carry over into globex into open outcry in

472
00:29:15,720 --> 00:29:19,080
the pits. And then I'd get some more follow through in the

473
00:29:19,080 --> 00:29:25,800
day session hours in the New York session. But if that's my

474
00:29:25,800 --> 00:29:30,420
entry point there, just like anybody else, life may get in

475
00:29:30,420 --> 00:29:35,250
the way. I may get sick. My kids may be complaining about

476
00:29:35,250 --> 00:29:37,560
growing pains and I can't be in front of my charts. You

477
00:29:37,560 --> 00:29:41,070
know, this happens. You know, I'm a dad, I'm a husband. I'm

478
00:29:41,070 --> 00:29:45,660
to have a pet parent and two boxers, and anything can

479
00:29:45,660 --> 00:29:48,480
happen. Okay, that distract me from actually getting in

480
00:29:48,480 --> 00:29:51,000
where I want to get in it. I don't always use limit orders.

481
00:29:51,240 --> 00:29:53,070
There are certain conditions where I want to use a limit

482
00:29:53,070 --> 00:29:56,970
order. But mainly, I want to be executing right when the

483
00:29:56,970 --> 00:29:59,790
markets happening to be trading against my directional

484
00:30:00,900 --> 00:30:01,740
buys for the day.

485
00:30:02,130 --> 00:30:04,770
I don't mind market orders to folks that say you shouldn't

486
00:30:04,770 --> 00:30:06,930
be using market orders, you know, they should be using limit

487
00:30:06,930 --> 00:30:10,560
orders. Again, that goes along with not knowing what I do.

488
00:30:10,680 --> 00:30:14,220
I'm actually trading aggressively rate as the markets

489
00:30:14,220 --> 00:30:17,550
screaming higher. I go marketing selling short right then

490
00:30:17,550 --> 00:30:19,680
and there and you see my examples I'm getting in there right

491
00:30:19,680 --> 00:30:22,560
at the highs and or the very lows, so I don't care what

492
00:30:22,560 --> 00:30:25,080
anybody else's opinion is, I can do it over and over again.

493
00:30:25,320 --> 00:30:29,910
And I've repeatedly shown it week after week. If you are up

494
00:30:29,940 --> 00:30:33,780
in a week looking at London, you can use market orders. But

495
00:30:34,050 --> 00:30:37,620
if I am not going to be awake, I will put a limit order in

496
00:30:38,250 --> 00:30:41,280
about two pips above these equal highs. My limit order would

497
00:30:41,280 --> 00:30:44,910
be about bear and my stop loss would be about 35 to 40 pips

498
00:30:45,270 --> 00:30:47,730
and I would go to sleep and be comfortable with that. Okay.

499
00:30:48,750 --> 00:30:52,470
I would have an 80 PIP take profit on the full position that

500
00:30:52,470 --> 00:30:56,940
way if I did wake up, and it moved in accelerated pace and

501
00:30:56,970 --> 00:31:00,000
moved 80 pips that would be five pips over my week.

502
00:31:00,000 --> 00:31:04,110
Objective which is 75 pips, I always aiming for 5075 pips

503
00:31:04,110 --> 00:31:06,390
only for a weekly objective. Once I do that I'm done

504
00:31:06,390 --> 00:31:09,960
trading, I don't do anything else. But I leave myself the

505
00:31:09,960 --> 00:31:13,140
opportunity to catch a tiger by the tail. If I wake up and

506
00:31:13,140 --> 00:31:15,960
the markets already moved 80 pips, I'm done for the week.

507
00:31:16,050 --> 00:31:19,710
And I didn't do anything but sleeping the whole process. But

508
00:31:21,060 --> 00:31:25,440
if I miss this opportunity, okay, if I miss it, my eyes go

509
00:31:25,440 --> 00:31:29,940
right to the low that form prior to that run above the

510
00:31:29,940 --> 00:31:32,910
opening price when I'm bearish. So I'm going to place a sell

511
00:31:32,910 --> 00:31:37,020
stop to get me in. Now sell stops, generally you understand

512
00:31:37,020 --> 00:31:41,760
them as a protective basis or mechanism to protect your long

513
00:31:41,760 --> 00:31:45,090
position. If there is no long position and you place a sell

514
00:31:45,090 --> 00:31:48,720
stop, it's going to put you in short, and that's what I'd be

515
00:31:48,810 --> 00:31:52,170
expecting to see happen here. So when price drops down, I

516
00:31:52,170 --> 00:31:55,410
could be short there and my stop loss would be above the

517
00:31:55,410 --> 00:31:58,170
high of the day. So let's assume for a moment that I missed

518
00:31:58,170 --> 00:32:02,610
this opportunity here and I just can't stay up something

519
00:32:02,610 --> 00:32:06,930
happens you My wife is getting ready have a baby this has

520
00:32:06,930 --> 00:32:12,540
happened I had to take a trade so I mean I have to trade

521
00:32:12,540 --> 00:32:15,180
folks okay it is what it is okay and I had to hear about it

522
00:32:15,180 --> 00:32:19,500
on the way to the hospital that day but nonetheless I'm you

523
00:32:19,500 --> 00:32:22,710
know, this is this is real life stuff here folks. So if I

524
00:32:22,710 --> 00:32:26,280
missed the opportunity get in okay and and the Swiss franc

525
00:32:26,280 --> 00:32:29,310
is looking to go lower. I'm going to place a sell stop below

526
00:32:29,310 --> 00:32:32,460
the swing low right before the rally above the opening price

527
00:32:32,760 --> 00:32:35,940
with the expectation that if this order fails, it will place

528
00:32:35,970 --> 00:32:40,140
a protective buy stop above the high plus three pips. And

529
00:32:40,140 --> 00:32:43,770
then again, same scenario, I would have a take profit of 50

530
00:32:43,770 --> 00:32:46,620
pips which is a low one of my main weekly objective, and

531
00:32:46,620 --> 00:32:50,610
that's it I don't trail my stop. I do not trail stops I do

532
00:32:50,610 --> 00:32:54,120
not have a mechanism that trails my stop loss lower because

533
00:32:54,120 --> 00:32:57,150
I don't think it should be done. Okay. I teach taking

534
00:32:57,150 --> 00:32:59,970
partials is the better way of go and leave your stop loss.

535
00:33:00,000 --> 00:33:02,730
Where you initially put it, manage the risk from taking

536
00:33:02,730 --> 00:33:06,060
partials and then slowly move it down after New York trading

537
00:33:06,060 --> 00:33:09,210
starts, because if you're going to get a big range day like

538
00:33:09,210 --> 00:33:12,750
we see here, you want to trail the stop loss after New York

539
00:33:12,750 --> 00:33:16,080
has done its retracement, if we take the conversation back

540
00:33:16,110 --> 00:33:19,290
to the utilization of the Asian range, we can see here

541
00:33:19,920 --> 00:33:21,960
what's actually happening is we have a tight narrow

542
00:33:21,960 --> 00:33:25,620
consolidation. And we're bearish now I think we have folks

543
00:33:25,800 --> 00:33:28,800
that want to buy on the breakout, they get tripped in with

544
00:33:28,800 --> 00:33:31,410
the move above the Asian range high here. So now what are

545
00:33:31,410 --> 00:33:33,780
they they're long, where's their stop loss going to be at

546
00:33:33,810 --> 00:33:36,810
right below that low. Mark goes right down below there to

547
00:33:36,810 --> 00:33:39,210
take their stuff. Notice it doesn't just go a little bit, it

548
00:33:39,210 --> 00:33:43,170
goes conveniently 10 pips below it. It's gonna sweep out

549
00:33:43,200 --> 00:33:46,560
anybody that has a stoploss at or just below that low. And

550
00:33:47,160 --> 00:33:49,440
using that little tail over here, they think that they're

551
00:33:49,440 --> 00:33:54,180
safe. They're not. The real move is running above the Asian

552
00:33:54,180 --> 00:33:58,380
range high after the buyers have been put in, then taken

553
00:33:58,380 --> 00:34:01,860
out, driven back up again. Why, because short sellers that

554
00:34:01,860 --> 00:34:04,620
were lucky enough to try to sell short at the top of this

555
00:34:04,620 --> 00:34:08,040
channel or trading range, they're making money here, they're

556
00:34:08,040 --> 00:34:11,370
not going to be allowed to be profitable. They run on their

557
00:34:11,370 --> 00:34:14,250
stops, which would be a buy stop run above these highs.

558
00:34:14,580 --> 00:34:17,820
That's where you're looking to be a seller. This is the

559
00:34:17,820 --> 00:34:22,830
lowest risk, high probability entry for using the Asian

560
00:34:22,830 --> 00:34:29,670
range. If we wait for the Asian range low to be broken, and

561
00:34:29,670 --> 00:34:32,760
then retrace back up to it. That's the other entry point

562
00:34:32,790 --> 00:34:35,430
using the Asian range. So you can see there's two ways of

563
00:34:35,430 --> 00:34:39,270
using this range. Selling above the Asian range high when

564
00:34:39,270 --> 00:34:42,240
we're bearish. best scenario, especially if you have the

565
00:34:42,240 --> 00:34:43,860
scenario that's been outlined here.

566
00:34:45,090 --> 00:34:49,170
Understand the storyline. You have to have a bias on the day

567
00:34:49,950 --> 00:34:53,910
and do not change gears. Based on all this little movement

568
00:34:53,910 --> 00:34:57,630
here. You have to stick to what your analysis is calling

569
00:34:57,630 --> 00:35:00,720
for. Our timeframe is going to go lower So we want to be

570
00:35:00,720 --> 00:35:05,130
looking for the market to take out the Asian range high. If

571
00:35:05,130 --> 00:35:09,240
that happens, we could sell short there. Or the low risk

572
00:35:09,240 --> 00:35:12,300
confirmation trade is wait for the Asian range low to break

573
00:35:12,660 --> 00:35:15,000
and then trade back up to it and then we can sell there.

574
00:35:15,840 --> 00:35:18,630
Okay, and if it happens to occur during an ICT kills in

575
00:35:19,080 --> 00:35:22,680
London open or New York open, the probabilities go through

576
00:35:22,680 --> 00:35:28,320
the roof in terms of being accurate. And then you can see

577
00:35:28,320 --> 00:35:31,470
that unfolding your charts if you go through the charts with

578
00:35:31,950 --> 00:35:37,740
this in mind, okay, just put the Asian range on and paint

579
00:35:37,740 --> 00:35:41,670
them manually. I know you all want indicators and pop this

580
00:35:41,670 --> 00:35:45,810
up and empty for this and empty for that. Physically draw

581
00:35:45,810 --> 00:35:48,990
them in, spend some time in the charts get intimate with

582
00:35:48,990 --> 00:35:51,420
price action, because it's going to teach you a lot more I

583
00:35:51,420 --> 00:35:55,590
had to do this stuff with charts that were you know, Drew

584
00:35:55,590 --> 00:35:56,640
handdrawn like I

585
00:35:56,790 --> 00:35:57,360
I had

586
00:35:58,530 --> 00:36:01,710
well obsession with Printed charts. So I would print out

587
00:36:01,710 --> 00:36:04,560
charts and I would do all these things by hand and a ruler

588
00:36:04,560 --> 00:36:07,050
and a magic marker and highlighter. That's the stuff I used

589
00:36:07,050 --> 00:36:10,260
to do. And I'm convinced that's what made me good at it.

590
00:36:11,520 --> 00:36:14,880
being lazy about this, okay, what you're really saying is,

591
00:36:14,880 --> 00:36:17,640
is I don't really have time to really study it, just give me

592
00:36:17,640 --> 00:36:20,460
the lipstick on the chart and then there it is, you will not

593
00:36:20,490 --> 00:36:25,980
get the same level of appreciation or understanding. If you

594
00:36:25,980 --> 00:36:30,690
shortcut it, draw the levels on as I taught. So by taking

595
00:36:30,690 --> 00:36:34,290
the time to draw this out manually and reminding yourself

596
00:36:34,620 --> 00:36:38,340
okay, maybe then be worth taking the time to type out a

597
00:36:38,340 --> 00:36:45,090
notation. Yeah, in this in this area here to not focus on

598
00:36:45,090 --> 00:36:49,530
the movements below the Asian range. Okay, focus primarily

599
00:36:49,560 --> 00:36:56,760
on a move above the Asian range high when we're bearish and

600
00:36:56,790 --> 00:37:01,080
or if we break below the Asian range after midnight. Wait

601
00:37:01,080 --> 00:37:07,080
for a retest in the form of resistance. Now, think about

602
00:37:07,080 --> 00:37:10,740
what you're seeing here. If we look at price action like

603
00:37:10,740 --> 00:37:14,220
this, if What if we don't use the Asian range concept here?

604
00:37:14,340 --> 00:37:19,950
As I'm outlining? The question is, why would this be a

605
00:37:20,040 --> 00:37:24,630
selling point? I mean, granted, you know, you can go back to

606
00:37:24,630 --> 00:37:27,480
this low here and say, well, that's probably a reason for

607
00:37:27,480 --> 00:37:30,930
it. But would you really look at that, after seeing this,

608
00:37:31,320 --> 00:37:34,410
and in this movement through, you know, without this

609
00:37:34,410 --> 00:37:36,960
insight, chances are, you're probably not going to see this

610
00:37:37,050 --> 00:37:39,750
actual scenario. And that's the difference between

611
00:37:39,750 --> 00:37:43,440
understanding tape reading, and building context behind

612
00:37:43,440 --> 00:37:47,250
price and also sticking with a bias. It's important to know

613
00:37:47,250 --> 00:37:50,550
what a trading bias is for any given day. And anyone who

614
00:37:50,550 --> 00:37:53,370
tells you don't trade with a bias, they're the ones that are

615
00:37:53,370 --> 00:37:55,590
telling you that because they don't know how to do it. I've

616
00:37:55,590 --> 00:37:58,530
given them many examples on how you can arrive at a daily

617
00:37:58,530 --> 00:38:00,930
bias and you're not gonna get a deal. bias accurate every

618
00:38:00,930 --> 00:38:03,600
single day. So don't let me paint that picture for you. But

619
00:38:04,680 --> 00:38:07,980
I can be in the Upper 90s in terms of my probabilities and

620
00:38:07,980 --> 00:38:13,410
directional bias. If you can get just 65 to 70% accuracy

621
00:38:13,770 --> 00:38:16,380
with your with your bias and then wait for conditions like

622
00:38:16,380 --> 00:38:20,850
I'm showing you here, adding time of day, kill zones, daily

623
00:38:20,850 --> 00:38:26,040
bias, focusing with the Asian range. We've already looked at

624
00:38:26,040 --> 00:38:30,900
power three, it builds the entire model for the daily range.

625
00:38:31,290 --> 00:38:33,840
And you are not surprised when certain things happen. In

626
00:38:33,840 --> 00:38:36,660
fact, you're anticipating them before they happen. And by

627
00:38:36,660 --> 00:38:41,250
seeing day after day after day of doing this, you become

628
00:38:41,370 --> 00:38:41,850
much

629
00:38:41,850 --> 00:38:42,570
better at

630
00:38:43,080 --> 00:38:46,830
well and terpening price action and forecasting, which is a

631
00:38:46,830 --> 00:38:49,440
skill set that you cannot learn from reading books or

632
00:38:49,440 --> 00:38:52,470
watching my videos. You have to spend time in the charts.

633
00:38:52,740 --> 00:38:56,400
And if you do that, I promise you, you will glean more from

634
00:38:56,400 --> 00:39:02,820
that than anything else that you would ever study. Hope you

635
00:39:02,820 --> 00:39:05,730
enjoyed this presentation. If you did, you can find more at

636
00:39:05,760 --> 00:39:07,470
the inner circle trader.com