ICT Market Maker Primer Course - 13 - Essentials To Trading The Daily Bias.srt

1
00:00:12,480 --> 00:00:14,580
ICT: Okay, folks, welcome back, this teachings going to be

2
00:00:14,610 --> 00:00:16,890
specifically dealing with essential to trading the daily

3
00:00:16,890 --> 00:00:23,610
bias. Okay, folks, we're looking at the dollar indexes the

4
00:00:23,610 --> 00:00:29,010
daily chart, and I'm going to cover some essential sun, my

5
00:00:29,130 --> 00:00:32,430
understanding about how to trade daily bias. Before we

6
00:00:32,430 --> 00:00:35,250
begin, just understand that this is not to teach you every

7
00:00:35,250 --> 00:00:38,700
single day Monday through Friday of every month, what the

8
00:00:38,700 --> 00:00:41,700
daily bias is going to be tomorrow. I don't have that

9
00:00:41,730 --> 00:00:44,580
understanding for every single pair, but I do know how to

10
00:00:44,580 --> 00:00:50,220
find a bias across all the pairs. So as a scalper, I can

11
00:00:50,220 --> 00:00:54,540
excel by looking at using some of these concepts and

12
00:00:54,540 --> 00:00:57,690
obviously things that I teach in my tutorials, both free and

13
00:00:57,690 --> 00:01:01,410
in my paid mentorship. So I'm going to cover one or two

14
00:01:01,410 --> 00:01:04,530
things here that I think are paramount, that will help you

15
00:01:04,530 --> 00:01:09,600
at least try to get a hold on daily bias. So if I look at a

16
00:01:09,600 --> 00:01:13,230
daily chart, what we're trying to do is ascertain the

17
00:01:13,230 --> 00:01:17,910
likelihood of it being up close or down close day. Now,

18
00:01:17,910 --> 00:01:21,300
there's absolutely no guarantee of what I'm going to tell

19
00:01:21,300 --> 00:01:26,850
you here being accurate. So you always have to use that as a

20
00:01:26,850 --> 00:01:31,530
reminder, because I'm human, and you're human too. So you're

21
00:01:31,530 --> 00:01:33,750
going to make mistakes just as well as I can make a mistake.

22
00:01:33,990 --> 00:01:37,170
And I can be wrong. So I don't want you to take what I'm

23
00:01:37,170 --> 00:01:42,540
stating here, as the panacea be all end all to understanding

24
00:01:42,570 --> 00:01:46,710
what daily biases, there's a number of things that we can do

25
00:01:46,710 --> 00:01:50,820
to get a better opinion about what the daily bias will be

26
00:01:50,820 --> 00:01:56,040
tomorrow or today. But it doesn't guarantee results that are

27
00:01:56,040 --> 00:01:58,320
going to be positive. So you always have to consider that

28
00:01:58,350 --> 00:02:01,710
okay, but it's certainly Some things that you can practice

29
00:02:01,710 --> 00:02:04,920
in a demo account and build your understanding about daily

30
00:02:04,920 --> 00:02:09,540
bias in the sandbox, if you will of a demo. So, I like to

31
00:02:09,540 --> 00:02:13,350
look for intermediate term and short term highs and

32
00:02:13,380 --> 00:02:16,830
intermediate term or short term lows. And what I have here

33
00:02:16,830 --> 00:02:22,530
is I have this high delineated and had this low these highs

34
00:02:22,530 --> 00:02:23,130
up here

35
00:02:24,480 --> 00:02:25,380
this low,

36
00:02:26,700 --> 00:02:31,440
this low, this high and this group of lows down here, okay,

37
00:02:31,440 --> 00:02:35,610
which is just an extension of this low back here. Now I

38
00:02:35,610 --> 00:02:41,700
teach that is when the markets not in a trending model, and

39
00:02:42,120 --> 00:02:46,410
for a parabolic move up or down. The market is going to work

40
00:02:46,410 --> 00:02:49,500
off of traditional support resistance theory. Now the

41
00:02:49,500 --> 00:02:54,300
problem is which support resistance do we use? So I look for

42
00:02:54,300 --> 00:02:57,840
the key turning points. There are obvious ones now you can

43
00:02:57,840 --> 00:03:00,780
use these short term ones in here, but then When is here

44
00:03:00,870 --> 00:03:04,620
because the market, the market moved from that low all the

45
00:03:04,620 --> 00:03:08,190
way up to this high, consolidated try one more time to go

46
00:03:08,190 --> 00:03:12,330
higher, failed, went lower, constant support here, found

47
00:03:12,330 --> 00:03:16,020
resistance found support tried one more time failure, the

48
00:03:16,020 --> 00:03:20,760
market moved higher. So we're looking at the ebb and flow of

49
00:03:20,760 --> 00:03:25,080
how the market moves from a point of overbought to oversold

50
00:03:25,440 --> 00:03:29,160
to equilibrium and consolidation and a news move that would

51
00:03:29,160 --> 00:03:33,480
take us to an overbought or oversold condition. That's a

52
00:03:33,480 --> 00:03:36,780
range bound market, which is where we're seeing the dollar

53
00:03:36,780 --> 00:03:39,840
trading right now has a slightly bullish bias to it and it

54
00:03:39,840 --> 00:03:43,170
has had that for a couple weeks now. But for now, I just

55
00:03:43,170 --> 00:03:46,260
wanted to cover how I interpret the first thing I look for

56
00:03:46,260 --> 00:03:51,810
is are we coming off of a run above an old high that may see

57
00:03:51,810 --> 00:03:56,010
it trade back below it or are we trading below an old low

58
00:03:56,040 --> 00:03:58,620
that may see it trade back above it? But I do is I look for

59
00:03:58,620 --> 00:04:01,710
these intermediate term price points and swing highs and

60
00:04:01,710 --> 00:04:05,250
swing lows on the daily to see if we have moved above an old

61
00:04:05,250 --> 00:04:07,860
high because we could very easily reject that and trade

62
00:04:07,860 --> 00:04:11,910
lower. Or if we trade below an old low, we could see it come

63
00:04:11,910 --> 00:04:15,150
back above it and stay inside the previous determined range.

64
00:04:15,330 --> 00:04:22,290
So if we look for candles or daily ranges that run above and

65
00:04:22,290 --> 00:04:27,420
all high, chances are we could see continue going higher.

66
00:04:27,780 --> 00:04:31,380
But we also have to be mindful that we could see an eventual

67
00:04:31,380 --> 00:04:34,200
turnaround or reversal and it could start to go back below

68
00:04:34,200 --> 00:04:36,660
that old high because this could be very easily seen as a

69
00:04:36,660 --> 00:04:41,400
false break. Same way with old lows. As we see here, the

70
00:04:41,400 --> 00:04:45,270
market does in fact trade through it tries to make a lower

71
00:04:45,270 --> 00:04:49,680
low, couldn't do it failed again and then started to trade

72
00:04:49,680 --> 00:04:53,700
higher. So we have to have these intermediate term swing

73
00:04:53,700 --> 00:04:57,480
points on our daily chart because they're going to be

74
00:04:57,480 --> 00:05:01,110
potential reversal points failing to Follow through after

75
00:05:01,110 --> 00:05:05,010
breaking in old high or breaking resistance or failing to

76
00:05:05,010 --> 00:05:07,920
make a lower low and trend lower after breaking below old

77
00:05:07,920 --> 00:05:11,520
support. So, when the market is not trending, this is a

78
00:05:11,520 --> 00:05:15,330
scenario that it will typically trade within, which is a

79
00:05:15,330 --> 00:05:18,750
classic support resistance theory. The problem with support

80
00:05:18,750 --> 00:05:22,440
resistance theory is which high and which low in which

81
00:05:22,440 --> 00:05:26,130
resistance and what support Do you use. So, I start with

82
00:05:26,130 --> 00:05:29,400
these swing points like this or turning points where it

83
00:05:29,400 --> 00:05:34,230
could potentially be reversals and can see how price events

84
00:05:34,230 --> 00:05:36,750
he does straight above this high here finds a measure of

85
00:05:36,750 --> 00:05:39,750
resistance, it consolidate so we're in a point of

86
00:05:39,840 --> 00:05:43,350
equilibrium and the markets digesting whether or not it

87
00:05:43,350 --> 00:05:46,800
wants to stay at these levels for trade higher or trade

88
00:05:46,800 --> 00:05:50,850
lower as we see the market trades below. These lows in here.

89
00:05:51,690 --> 00:05:56,820
Can't rally above and collapses trades below. It reprice is

90
00:05:56,820 --> 00:06:02,130
all the way down below an old low Then rejects, comes back

91
00:06:02,130 --> 00:06:07,470
into an area of consolidation then rejects again, expansion

92
00:06:07,590 --> 00:06:13,560
lower, finds a low, cannot find momentum through it

93
00:06:13,740 --> 00:06:16,980
consolidates around it tries one more time to go lower, then

94
00:06:16,980 --> 00:06:22,500
trades higher. Every time the market breaks a swing high.

95
00:06:24,030 --> 00:06:27,540
And if we look to the left of that swing high, where's the

96
00:06:27,540 --> 00:06:31,680
next old intermediate term high, this one here. So there's

97
00:06:31,680 --> 00:06:34,950
nothing for it to potentially reverse inside of until we get

98
00:06:34,950 --> 00:06:37,590
up to here. So if we're going to use simple classic

99
00:06:38,010 --> 00:06:41,160
resistance and support levels, we can see that this is the

100
00:06:41,160 --> 00:06:44,730
one we're gonna be looking for. Okay, so if we're trading

101
00:06:44,730 --> 00:06:46,980
around here, and we're looking here, this is gonna be in the

102
00:06:46,980 --> 00:06:50,100
form of resistance. So the markets want to try to get back

103
00:06:50,100 --> 00:06:54,360
up to that level. The market does, in fact, try to make an

104
00:06:54,360 --> 00:06:58,950
attempt to do that. But when we have these ideas, suggesting

105
00:06:59,130 --> 00:07:04,860
classic support Short term resistance, okay? That's what

106
00:07:04,860 --> 00:07:08,370
this whole level is here. The markets tried to go through it

107
00:07:11,190 --> 00:07:14,490
one more time, try to get through an old low, and then trade

108
00:07:14,490 --> 00:07:19,590
it throw it back above this swing high here. So what I'm

109
00:07:19,590 --> 00:07:21,900
going to teach you is this is what I look for for daily

110
00:07:21,900 --> 00:07:25,290
bias. Now, there's a lot of folks on social media that were

111
00:07:25,290 --> 00:07:30,750
looking for a weaker dollar. And ignoring these types of

112
00:07:30,750 --> 00:07:32,820
phenomena, and I'm going to show you here, you're going to

113
00:07:32,820 --> 00:07:36,450
have that error as well. But if we know that there is a

114
00:07:36,480 --> 00:07:39,750
support level here, we tried several times ago below it, and

115
00:07:39,750 --> 00:07:42,120
then we had a swing high broken, what's the market really

116
00:07:42,120 --> 00:07:45,390
telling you? It wants to go higher. So what's the next level

117
00:07:45,390 --> 00:07:49,980
to reach for? This short term resistance level? Okay, so we

118
00:07:49,980 --> 00:07:53,490
can see that it wants to get to 9417. That's the high of

119
00:07:53,490 --> 00:07:58,080
this candle here. So what do we do at that point? Once we

120
00:07:58,080 --> 00:08:01,710
clear this high here, what's the best Well, if you look at

121
00:08:01,710 --> 00:08:04,470
this little diagram, I have it right here. This is gonna

122
00:08:04,470 --> 00:08:06,600
refer to the previous day now this could be a bullish or

123
00:08:06,600 --> 00:08:08,910
bearish day doesn't make a difference. But when the market

124
00:08:08,940 --> 00:08:12,390
is bullish as we've outlined Today we're here we're going to

125
00:08:12,390 --> 00:08:17,550
be looking for the previous day's high to be the target and

126
00:08:17,640 --> 00:08:21,720
the previous day's low to be supported. In other words,

127
00:08:21,720 --> 00:08:23,670
there shouldn't be any movement below the previous day's

128
00:08:23,670 --> 00:08:28,770
low. It should all focus on the buy side means reaching for

129
00:08:28,770 --> 00:08:33,210
the previous day's high. When the markets bearish this

130
00:08:33,210 --> 00:08:35,790
scenario would be reversed. We would be looking for price

131
00:08:35,820 --> 00:08:40,230
having an inability to get above the previous day's high and

132
00:08:40,260 --> 00:08:46,200
see the previous day's low using this criteria here, okay,

133
00:08:46,200 --> 00:08:51,600
once we broke this, candles, swing high here, daily bias on

134
00:08:51,600 --> 00:08:55,620
this candle and this candle and this is a Sunday we would

135
00:08:55,620 --> 00:08:58,500
look for Monday as well. And then Tuesday we would look for

136
00:08:58,500 --> 00:09:01,350
bullishness, so if we use This same theory,

137
00:09:02,879 --> 00:09:03,779
we're going to draw

138
00:09:07,890 --> 00:09:10,770
this particular candle right here is the one that broke the

139
00:09:10,770 --> 00:09:12,780
swing high and then we know they have a resistance level it

140
00:09:12,780 --> 00:09:16,410
could probably reach for. So we're going to be looking for

141
00:09:16,530 --> 00:09:17,520
the next day

142
00:09:19,199 --> 00:09:19,889
to trade

143
00:09:23,190 --> 00:09:26,850
not to the previous day's low, but to and through previous

144
00:09:26,850 --> 00:09:30,300
day's high. So this next day, what's the daily bias? Here's

145
00:09:30,300 --> 00:09:34,170
the opening, what's the bias? It's going to want to reach

146
00:09:34,170 --> 00:09:38,040
for this high. So where's it wanting to go up? So what are

147
00:09:38,040 --> 00:09:40,680
we gonna focus on? previous day's low or previous day's

148
00:09:40,680 --> 00:09:43,770
high? previous day's high? Because it's bullish, it's

149
00:09:43,770 --> 00:09:46,770
wanting to go higher. So the market trades up creates up

150
00:09:46,770 --> 00:09:53,100
clothes day. Then we take this thing thing and apply it to

151
00:09:54,929 --> 00:09:55,529
the new day

152
00:09:58,890 --> 00:10:02,310
okay, So we have a very simple approach

153
00:10:04,650 --> 00:10:09,930
this little box up here. Now we have yesterday this is what

154
00:10:09,930 --> 00:10:16,410
this one this candles date on December 8. This candles last

155
00:10:16,410 --> 00:10:22,110
Thursday's tie, which would be 93 ad market opens and we're

156
00:10:22,110 --> 00:10:24,900
going to see it trade through that. And with the

157
00:10:24,900 --> 00:10:27,210
anticipation it's going to eventually try to reach for this

158
00:10:27,510 --> 00:10:30,930
daily high. So when this happens again, we don't think about

159
00:10:30,930 --> 00:10:33,750
the daily low from the previous day. We're focusing on the

160
00:10:33,750 --> 00:10:37,410
movement through the previous day's high and or eventually

161
00:10:37,410 --> 00:10:42,240
reaching to this level here on the daily market closes in

162
00:10:42,240 --> 00:10:46,560
the middle of the range. Here is Sunday's. Trading then

163
00:10:46,560 --> 00:10:49,620
Monday the same phenomenon you would look for the market to

164
00:10:49,620 --> 00:10:53,010
want to trade through what on Monday we would look for this

165
00:10:53,910 --> 00:10:58,230
previous Friday's low could be supported and we would look

166
00:10:58,230 --> 00:11:01,770
for price to run through previous Fridays Hi, again, this is

167
00:11:01,770 --> 00:11:04,800
Sunday. We wouldn't expect anything there. Monday we see it

168
00:11:04,800 --> 00:11:07,620
open here. A little bit of movement above it, but it does in

169
00:11:07,620 --> 00:11:11,670
fact, Pierce Friday's low. And it comes back and closes,

170
00:11:12,030 --> 00:11:16,170
where it opens. So is there any significant change in the

171
00:11:16,170 --> 00:11:20,430
underlying direction? No. Can we trade to this high yet? No.

172
00:11:20,550 --> 00:11:22,530
So we take that same premise.

173
00:11:26,880 --> 00:11:28,140
Now we apply to

174
00:11:29,490 --> 00:11:33,420
this candle, which is Monday of this particular week of the

175
00:11:33,420 --> 00:11:38,790
recording. And we see it open here. So what's the bias?

176
00:11:39,810 --> 00:11:42,990
We're looking for the previous day's high. Why? Because we

177
00:11:42,990 --> 00:11:46,710
have yet to trade back to this old resistance level. market

178
00:11:46,710 --> 00:11:50,070
opens here, trades up trades through it, but look what it

179
00:11:50,070 --> 00:11:53,610
does. It comes right back inside the daily range. Okay, in

180
00:11:53,610 --> 00:11:55,800
the next trading session right now, at the time of this

181
00:11:55,800 --> 00:12:00,810
recording, it's 9:26pm New York time on December 12. 2017

182
00:12:00,840 --> 00:12:03,960
and the candle is already starting here, it opened a little

183
00:12:03,960 --> 00:12:06,060
bit of moving up, and now we're moving a little bit lower.

184
00:12:06,600 --> 00:12:10,680
So it may want to trade a little bit higher, go a little bit

185
00:12:10,680 --> 00:12:13,620
higher through this old high. But as we're reaching for

186
00:12:13,620 --> 00:12:16,350
these intermediate term levels on the daily chart, we're

187
00:12:16,350 --> 00:12:19,800
factoring in, does it have enough range or reach for above

188
00:12:19,830 --> 00:12:22,950
or below, and then we take that approach and apply

189
00:12:22,980 --> 00:12:26,490
immediately to the previous day's high and low as we have

190
00:12:26,490 --> 00:12:29,670
here. And what you're determining is, if we're bullish,

191
00:12:29,700 --> 00:12:32,160
we're gonna be focusing on the previous day's high for

192
00:12:32,160 --> 00:12:35,850
momentum, and more bearish, or we focus on the previous

193
00:12:35,850 --> 00:12:40,950
day's low for momentum. Very rarely do you see both sides of

194
00:12:40,950 --> 00:12:44,700
the previous day's candle tagged or traded through? If it

195
00:12:44,700 --> 00:12:48,660
does, it's usually in decisiveness, or it's going to be a

196
00:12:48,660 --> 00:12:51,540
reversal soon, and they're clearing the board on both sides

197
00:12:51,540 --> 00:12:54,030
of the marketplace. And when you start seeing those types of

198
00:12:54,030 --> 00:12:57,720
things, get prepared, because the market could be in fact

199
00:12:57,810 --> 00:13:00,690
about the reverse. You can see that actually has thing here,

200
00:13:01,290 --> 00:13:03,870
previous day's high and low here the next day trades through

201
00:13:03,870 --> 00:13:07,410
it, and it's low as violated too. So we're about to see a

202
00:13:07,410 --> 00:13:12,300
reversal next day reversal. Okay, and I'll show you another

203
00:13:12,300 --> 00:13:13,320
example of that.

204
00:13:15,570 --> 00:13:18,450
See here, we have here as well.

205
00:13:19,860 --> 00:13:25,710
We have a Thursdays range. Now this low comes in at 9442.

206
00:13:26,850 --> 00:13:31,110
And the low end here is 9442. So it's equal but still very,

207
00:13:31,260 --> 00:13:37,110
very close to the high. This is Sunday and a Monday. Nothing

208
00:13:37,110 --> 00:13:40,590
shown there but end up getting a very, very important high

209
00:13:40,890 --> 00:13:45,330
eventually afterwards. And now this is called an outside day

210
00:13:45,540 --> 00:13:49,470
when you have a previous day's range that's violated with

211
00:13:50,220 --> 00:13:56,130
this example it to as high as 9398, the lowest 9367 this

212
00:13:56,130 --> 00:14:00,840
candles low is 9358 and the highest 99 United services is an

213
00:14:00,840 --> 00:14:03,720
outside day with a down close that's typically bullish

214
00:14:04,740 --> 00:14:07,230
reason why it creates a false break above the previous day's

215
00:14:07,230 --> 00:14:10,350
high and then closed on the low if we're in a bullish

216
00:14:10,350 --> 00:14:14,100
market, but overall in that occurs, generally sets up a

217
00:14:14,100 --> 00:14:17,040
really good buy scenario. I've learned that from Larry

218
00:14:17,040 --> 00:14:20,640
Williams and that's from like old school stuff. But you got

219
00:14:20,640 --> 00:14:23,100
to have a context behind it can't just take it outside, they

220
00:14:23,100 --> 00:14:24,930
would have done closing this naturally assume it's going to

221
00:14:24,930 --> 00:14:27,720
be a bullish day. But you can see it does, in fact, give a

222
00:14:27,720 --> 00:14:31,770
huge opportunity to be a buyer on this day. And my

223
00:14:31,770 --> 00:14:34,740
application the outside days when it does that, it sets up a

224
00:14:34,740 --> 00:14:38,370
potential short term reversal. What les Williams brought to

225
00:14:38,370 --> 00:14:41,010
the table with it is it creates a short term oversold

226
00:14:41,040 --> 00:14:43,470
scenario. So it doesn't necessarily mean it's a reversal. It

227
00:14:43,470 --> 00:14:47,790
just means it's maintains a continuation pattern, according

228
00:14:47,790 --> 00:14:52,320
to his definitions, all right. And here's another scenario

229
00:14:52,320 --> 00:14:57,630
here outside day. We have the candle here. The high comes in

230
00:14:57,630 --> 00:15:03,390
at 9323 and a low is 9280. One, the very next day the highs

231
00:15:03,390 --> 00:15:09,480
taken out 9324, new lows 90 to 75. So reversal day, and then

232
00:15:09,480 --> 00:15:12,180
we can see the market doesn't want to trade higher as a

233
00:15:12,180 --> 00:15:17,040
result. So you won't always get the outside day at turning

234
00:15:17,040 --> 00:15:19,380
points, but I like to look for it because it builds a lot of

235
00:15:19,380 --> 00:15:23,940
confidence behind it. And by using these tools, okay, and

236
00:15:23,940 --> 00:15:29,700
when the market also breaks, more or less, a swing high of

237
00:15:29,700 --> 00:15:32,490
importance, and we have a level that doesn't have anything

238
00:15:32,490 --> 00:15:36,090
else until we get to hear the bull it's bullish, okay. It's

239
00:15:36,090 --> 00:15:38,820
bullish, avoid this whole scenario, like looking at this

240
00:15:38,820 --> 00:15:42,180
high to this low point is on looking for optimal trade entry

241
00:15:42,330 --> 00:15:44,940
in sell off and all that stuff. It's already shown a

242
00:15:44,940 --> 00:15:48,630
willingness to want to go below this low multiple times. And

243
00:15:48,630 --> 00:15:53,100
then it broke a swing high, so the momentum is bullish. And

244
00:15:53,100 --> 00:15:54,870
that's going to reach for this now if we're doing that

245
00:15:54,870 --> 00:15:58,920
analysis on the daily for the dollar index. And we've

246
00:15:58,920 --> 00:16:02,400
arrived at a bullishness For the dollar, what does that

247
00:16:02,400 --> 00:16:05,910
translate for foreign currency in terms of daily bias? It's

248
00:16:05,910 --> 00:16:08,160
going to be a mirror image. So if we go over to the euro

249
00:16:08,160 --> 00:16:12,300
dollar, we can see that the euro dollar has been bearish as

250
00:16:12,300 --> 00:16:15,810
we would reasonably expect. Notice that every single day,

251
00:16:16,110 --> 00:16:19,380
the daily high is not concerned with at all it's the

252
00:16:19,380 --> 00:16:23,250
previous day's low. It trades through it. So now we have a

253
00:16:23,250 --> 00:16:25,830
low here. What's it going to do? It's going to want to trade

254
00:16:25,830 --> 00:16:28,410
to the previous day's low. It trades through it. So what's

255
00:16:28,410 --> 00:16:32,610
the next storyline? opens trades down below the previous

256
00:16:32,610 --> 00:16:35,850
day's low? Next day? What's it gonna do? It's gonna trade

257
00:16:35,970 --> 00:16:38,430
through not only the previous day's low, but what's it

258
00:16:38,430 --> 00:16:42,330
really reaching for that old intermediate term low on the

259
00:16:42,330 --> 00:16:45,450
daily. I'll give you some lipstick on the charts. You can

260
00:16:45,450 --> 00:16:53,670
see that premium a little bit. So this low here, and its

261
00:16:53,670 --> 00:16:56,760
price is starting to drop down. It's reaching for this level

262
00:16:56,760 --> 00:16:59,310
here. Why? Because it's basically the opposite of what we're

263
00:16:59,310 --> 00:17:04,230
seeing. done here. dollar is reaching for this intermediate

264
00:17:04,230 --> 00:17:08,310
term high. Well, the Euro dollar is reaching for me term

265
00:17:08,310 --> 00:17:14,100
low. Each day we're focusing on again this phenomenon here.

266
00:17:14,430 --> 00:17:17,880
We're focusing on the Euro because dollars bullish, we're

267
00:17:17,880 --> 00:17:19,920
focusing on the previous day's low and that's where it's

268
00:17:19,920 --> 00:17:23,040
going to be aiming for to it in through it. That's how you

269
00:17:23,040 --> 00:17:26,490
think about it when it's bearish. Back to the euro dollar,

270
00:17:27,180 --> 00:17:30,780
every single trading day opens creates a small little tail

271
00:17:30,810 --> 00:17:34,590
power three, Judas swing, sell it down close, reach for the

272
00:17:34,590 --> 00:17:38,880
previous day's low. Next day opens false rally genius swing,

273
00:17:39,030 --> 00:17:43,230
sell it reach for the previous day's low, does it next day

274
00:17:43,290 --> 00:17:47,340
opens rallies false rally, Judas swing, sell it, fade it

275
00:17:47,550 --> 00:17:50,850
reach for the previous day's low boom handled next day open

276
00:17:50,850 --> 00:17:55,530
small little tail trades lower comes back off the low. Okay.

277
00:17:57,000 --> 00:17:59,850
We're still targeting here. Okay, we're still reaching for

278
00:17:59,850 --> 00:18:04,080
that. Next day, well, this is going to be Sunday. So here's

279
00:18:04,080 --> 00:18:05,940
a Monday trading range.

280
00:18:07,470 --> 00:18:08,130
It opens

281
00:18:08,280 --> 00:18:12,270
rallies up, get a short term over bought scenario comes off

282
00:18:12,270 --> 00:18:16,230
the highs, that is a potential reversal scenario. The Next

283
00:18:16,260 --> 00:18:19,980
Day Saints same skit, we're looking for what to market to

284
00:18:19,980 --> 00:18:22,800
open trade below the previous day's low and then ultimately,

285
00:18:22,860 --> 00:18:26,760
it trades through that. Forget Sunday, go to Friday, it

286
00:18:26,760 --> 00:18:29,910
trades through Friday's range and then ultimately reach for

287
00:18:29,910 --> 00:18:32,370
this low here. So we're looking for that scenario here

288
00:18:32,370 --> 00:18:35,730
potentially to trade through this low still is there. And so

289
00:18:35,730 --> 00:18:42,390
the daily buys today on December 12 2017 should be a move

290
00:18:42,390 --> 00:18:46,530
lower below this low using what I'm teaching you here. Okay.

291
00:18:47,880 --> 00:18:51,090
So hopefully, this has been insightful to you guys. It gives

292
00:18:51,090 --> 00:18:53,310
you a little bit more framework to work with and obviously

293
00:18:53,310 --> 00:18:55,890
there's so many things that we can build on to build bias

294
00:18:55,950 --> 00:18:59,670
and intermarket relationships as well. But I tried to

295
00:18:59,670 --> 00:19:03,060
implement rate, the application of the dollar index analysis

296
00:19:03,420 --> 00:19:06,840
and also to justify what we view in terms of foreign

297
00:19:06,840 --> 00:19:09,690
currencies bullish or bearish ness as well and using daily

298
00:19:09,690 --> 00:19:10,080
bias.

299
00:19:11,490 --> 00:19:12,180
Okay folks,

300
00:19:12,270 --> 00:19:14,730
hopefully you enjoyed this presentation. If you liked this

301
00:19:14,730 --> 00:19:16,890
presentation and you want to find more, you can visit my

302
00:19:16,890 --> 00:19:19,200
website at the inner circle trader.com