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ICT Market Maker Primer Course - 19 - Target Selection and Profit Objectives.srt

Last modified by Drunk Monkey on 2021-06-10 06:19
1 00:00:11,130 --> 00:00:16,140 ICT: Welcome back, folks, this teaching will deal with target selection and profit objectives.
2 00:00:21,870 --> 00:00:31,230 Okay, taury selection and profit objectives. The points of focus in this module we'll be measuring bullish weekly targets were to anticipate weekly highs to
3 00:00:31,230 --> 00:00:36,750 form measuring bearish weekly targets were to anticipate weekly lows to form.
4 00:00:42,810 --> 00:00:55,560 Okay, folks, we're gonna look at the examples of this shown in the previous teaching weekly bias. And we're going to assume, again that our analysis led to
5 00:00:55,560 --> 00:01:10,500 a bullish analysis for this week under study here, and before we even consider running target measurements from the intraday price action each day, we have to
6 00:01:10,500 --> 00:01:20,190 have a premise in mind, that sets the tone for this market to be bullish ahead, the weekly beginning or Sunday is opening. So we're getting a scrub over to the
7 00:01:20,190 --> 00:01:35,790 left of our price action here. You can see we have the impulse leg here to the high. So we're gonna run our fib on that using the lowest body open or close to
8 00:01:35,790 --> 00:01:52,140 the highest open body or close. Right there, okay. Now, we're going to put some horizontal lines in. Because these are objectives that could happen going into
9 00:01:52,140 --> 00:02:03,510 the new week, because as the market was closing here, it started trading on Sunday declined Monday and Tuesday creating a beautiful hit on the 70.5 level
10 00:02:03,960 --> 00:02:12,840 profitable trade entry. And we're going to put it on target one. And I'm gonna put it on target to
11 00:02:15,270 --> 00:02:15,840 up here.
12 00:02:18,030 --> 00:02:30,780 And I'm going to put one more symmetrical price swing. So these will be our objectives relative to this price swing. Okay, since we're trading with a longer
13 00:02:30,780 --> 00:02:40,770 term idea in mind, we want to be looking for the move beyond this swing high to what levels it may reach for. Okay, so let's target one, target two and in
14 00:02:40,770 --> 00:02:52,800 symmetrical price swing. So with that, we're going to take the fifth off. And now we can go back zoomed in and look at some of the measurements we're going to
15 00:02:52,800 --> 00:03:05,640 do. One, individual days, now these levels will be in my mind going forward, based on the previous swing. Okay, so now we have a chart back the way it was
16 00:03:05,640 --> 00:03:17,190 before. Looking at those projections. Now we have Sunday's opening here, market drops down. Again, as I mentioned in the weekly bias video, I'm not only
17 00:03:17,190 --> 00:03:26,910 concerned about Monday's trading, I want to see if I'm bullish, a move, moving lower on Tuesday. Now we can take a look at some of the measurements in addition
18 00:03:26,910 --> 00:03:34,200 to and see which ones in line up. So the bulk of what I'm going to teach you here is an overlapping or confluence of Fibonacci levels in the form of
19 00:03:34,200 --> 00:03:48,000 extensions. Okay, so right away, we have this high back here, that price has been moving lower from what I want to do is incorporate that with a projection
20 00:03:48,000 --> 00:04:02,850 from that low here on Tuesday. Up to the highest body open or close here is actually a little bit right there. So I'm looking at the body to body in this
21 00:04:02,850 --> 00:04:13,440 price swing. Why am I measuring this? Because what I'm looking for is the movement lower to pick up by orders. And once this high is taken out, how far up
22 00:04:13,470 --> 00:04:24,210 will we reach into in terms of price objectives. Okay, so and now start looking for overlaps. We're kind of close with this target to this one, but not that
23 00:04:24,210 --> 00:04:32,940 close. But then we have this level here. This is where a little bit thoughts gonna have to come in. Because on the larger price when we did when we scrubbed
24 00:04:32,940 --> 00:04:40,650 over to the left side of the chart, and we drew this horizontal lines across, we have one target here, and then another target here, but look what happens right
25 00:04:40,650 --> 00:04:48,510 in the middle of that. We have this level here to target to lies directly right in the middle of that. So that's like an equilibrium concept. Right away, I see
26 00:04:48,510 --> 00:05:08,190 that that draws my attention. So I'm going to draw Now, another horizontal line here and I'm going to Change the color of this one, to delineate why I'm drawing
27 00:05:08,190 --> 00:05:16,980 it because this is all gonna be based on this price swing and everything to the right of it. And you'll see what I mean as I go. So now I want to take another
28 00:05:16,980 --> 00:05:28,440 measurement of this open or close ties one in this swing, keep it anchored to here and see if there's any measurement up here that has a confluence. Again,
29 00:05:28,440 --> 00:05:37,170 this one's a little too far away. But look how far away We are here to want to just did on an equilibrium. So right away, this is another Confluence. Now how
30 00:05:37,170 --> 00:05:50,190 far away would I be willing to allow price to move? About 10 to 15 pips depend upon the type of market structure there is. But anything more than 15 pips, I'm
31 00:05:50,190 --> 00:06:01,650 not really willing to let that be deemed a confluence. If it can be less than 10 pips, it's even better. In this instance, we have 1928 1924, so we're less than
32 00:06:01,650 --> 00:06:12,480 five pips. real close. Okay, now see how we can pick a specific level in mind once I go through all the possible swings, right? So we're looking at not this
33 00:06:12,480 --> 00:06:21,690 level here. And reason why I'm not going to use this price swing is because we have this low, and this low here, and then we drop down. So I'm not really, I'm
34 00:06:21,690 --> 00:06:29,700 not concerned about this one. Okay, so I'm not interested in this swing at all.  This swing is the parent price swing, this is a subordinate price swing within
35 00:06:29,700 --> 00:06:40,290 the overall swing from this low to this high. So even though we traded down came back up, it really was a new significance. So this low to this high is much more
36 00:06:40,290 --> 00:06:51,780 significant. Now we can start looking at smaller price swings. And the optimal trade entry here. Okay, so we have the lowest open or close up to the highest
37 00:06:51,780 --> 00:07:01,020 open or close in this price swing. Price comes down here to 62%, trace on level optimal trade entry. And we started looking for extensions. Okay, we had the
38 00:07:01,020 --> 00:07:09,540 300. Extension, within again, less than 15 pips. So now we have another conference. Right there.
39 00:07:11,970 --> 00:07:12,780 And now
40 00:07:16,230 --> 00:07:31,380 I'm going to measure every price swing that moves lower. So every price swing down, I'm going to measure that. That's it, this one here, it's going down
41 00:07:31,380 --> 00:07:38,670 picking up orders. Why am I looking for that? Because I'm looking for the expansion up the upside. Now watch, look what happens. Now we start seeing an
42 00:07:38,700 --> 00:07:55,560 overlap here. Have one Confluence here at that level, and we also have another one right here. But the 500% cake, so you can already start seeing the grouping
43 00:07:55,830 --> 00:08:07,710 that's occurring right here. This little price swing here. Why is this significant because it comes down and takes out an area of short term below
44 00:08:07,710 --> 00:08:16,680 where but this is catching my eye, this will have caught my eye. If we started breaking higher. Right away, I'd be looking for
45 00:08:22,080 --> 00:08:35,250 highest by close to the highest and lowest open or close relative to each swing high and low here. And I'd look for another extension. And we don't need to draw
46 00:08:35,250 --> 00:08:43,470 another one because it's right on here. It's 200 extension. Okay, and if no other company is really not conference that need to be drawn here. So we can see
47 00:08:43,470 --> 00:08:51,420 that there's room to justify this level here, this would be a target, but we have a lot of grouping re up in this area here. So now what I'm gonna do is I'm
48 00:08:51,420 --> 00:09:04,350 going to take that and just highlight it. I don't draw these boxes on here, or these rectangles. When I'm doing this, I look for just the levels and I can
49 00:09:04,350 --> 00:09:13,410 start keeping an eye on where they're starting to group. Now once we have an area where they start to converge, here and then over here, right away, we're
50 00:09:13,410 --> 00:09:20,100 below that price level as we're coming up. So this is going to be a nice objective the reach for which is basically dollar 19. Big figure because if he
51 00:09:20,130 --> 00:09:31,500 wants at 98 you can go to more pips just with just a spread or chaotic price action would take us right up into that 119 big figure. If that trades through
52 00:09:31,530 --> 00:09:40,200 then we'd be looking for an area in here where all these overlap starts to take place. So now I'm going to take all of the horizontal lines off to make a little
53 00:09:40,200 --> 00:10:01,230 bit cleaner. We can see that the lowest point that that level competence started was 119 24. And then we have the highest point comes in at 119 35 So you're
54 00:10:01,230 --> 00:10:12,750 stuck with the decision rather, to go with, what level are we looking for. And here's your choices, you can be conservative and get out at the 20 institutional
55 00:10:12,750 --> 00:10:33,180 level, right before all those consequences agreed. Get 119 25 got 119 30, round number, or you can hold for 119 35. We have five levels, zero levels. And
56 00:10:33,210 --> 00:10:44,520 obviously, the 119 20 is institutional level, waiting for the confluence of target two. So this is target to one that price when we had relative to this
57 00:10:44,520 --> 00:10:55,890 swing here. So all I'm doing is measuring all of the possible overlaps of the Fibonacci. And looking for an agreement on a specific area, then I'm either
58 00:10:55,890 --> 00:11:05,160 picking a five level or zero level, the closest I can get to an institutional level, the better. Truth be told 119 20 would be my level. And I'd look for that
59 00:11:05,160 --> 00:11:15,540 only. And I would miss out on all the remaining portion of the move. And we're gonna do similar things here. So we have, again, a sell idea. So we're looking
60 00:11:15,540 --> 00:11:25,440 for Where is going to be the objective we would reach for for covering our short positions. If we have a bearish weakened mind? What type of things would we look
61 00:11:25,440 --> 00:11:39,720 for, for overlapping for target selection and profit objectives? Well, we're gonna be looking for any movement up is meant to be gathering sell entries to go
62 00:11:39,720 --> 00:11:51,450 short. So we want to be focusing on that. Now I'll draw a fib up. And first and foremost, I like this swing here. And we also have an equal low down here. So
63 00:11:51,450 --> 00:12:02,940 right away, I'm already thinking, if we're bearish on the week, and we're lucky enough to get in here and get short on Tuesday. If this occurs, in my mind is
64 00:12:02,940 --> 00:12:13,560 thinking 2030 pips below this low or equal lows, they're probably gonna want to reach for that. And we'll come to that in a minute. But for now, we're going to
65 00:12:13,560 --> 00:12:32,370 look at the overall price swing there. So we have an initial Confluence. Quick target one, on that parent price swing here. So again, the idea is it starts
66 00:12:32,370 --> 00:12:43,440 here, it runs higher, they sell, they sell more, they sell more, finally, price in the weekly high, and it starts to break down. We want to see this low broken,
67 00:12:43,440 --> 00:12:56,970 but how far will it go, you can go to Target one more target to just to save time, we won't add that symmetrical pricing, but you would add it, you would
68 00:12:56,970 --> 00:13:05,370 look for other consequences. But we had the benefit of hindsight here. So we'll stick with that just for the purpose of keeping the video short. And you'll see
69 00:13:05,370 --> 00:13:20,850 that there's conferences that line up with this one here, a lot. So keep both of them in frame. Okay. So now, we can take every price swings, and I don't like
70 00:13:20,850 --> 00:13:21,780 this one because it
71 00:13:21,780 --> 00:13:31,470 was part of a consolidation. And we basically came back in that same area. So I want to look at the lowest open or close here to this open or closed in the
72 00:13:31,470 --> 00:13:40,560 swing high up here. And right away, we can see another symmetrical price swing overlapping. So this is what I'm saying. It takes a little bit of work and
73 00:13:40,560 --> 00:13:54,030 thinking to figure out which level you're gonna be aiming for. And now we can start doing Fibonacci extensions, on the optimal trade entries. So we have 300,
74 00:13:54,030 --> 00:14:09,060 extension down here. So we can look for that level, right there. And we have another optimal trade entry when you use the bodies of the candle, most body
75 00:14:09,060 --> 00:14:21,030 candle here and highest open or close on this swing here. Optimal trade entry.  So on Wednesday, leaving the opening on the week, start to expand, then we have
76 00:14:21,030 --> 00:14:33,150 to add extension down here. Right there, and we're a little too far away, in my opinion, for this one to line up. So again, all the grouping still around this
77 00:14:33,150 --> 00:14:52,110 level here. And we're also going to look at this swing right there. To here. So we're looking at the overall price swing from this high. down to this low right
78 00:14:52,110 --> 00:15:01,380 here is what I'm measuring. Why am I doing that because that's the biggest dynamic price move. So I want to see if this is gonna be replicated And we get
79 00:15:01,380 --> 00:15:10,170 that same measurement to measure move idea from this high to this low using the body because the bulk of the volume, and then projecting it down again, will
80 00:15:10,170 --> 00:15:21,060 take us right to here. So we have an overlap there as well. Okay, so we can see a tight grouping around here. So we're going to leave no interest with this one
81 00:15:21,060 --> 00:15:35,430 here, because there's a lot of overlap here. So we're gonna shade in, again, this area here, this is going to be the bulk of our interest. And we're gonna
82 00:15:35,430 --> 00:15:49,140 delete all the other horizontal lines will just leave one for target selection purposes. Okay, so the top of that shaded area where the upper most overlap
83 00:15:49,140 --> 00:16:03,450 occurred, comes in essentially at 126 89. The lower one comes in at 2681. So we have a range of eight pips. Not bad. So we can look to take our profit. Again,
84 00:16:03,690 --> 00:16:18,840 we're selling short this week, in theory, so we're looking at 126 89. So above, that would be worth 126 90, round number, or 126 95, which is what I would look,
85 00:16:18,870 --> 00:16:32,190 I would look to get there, because the lowest portion of that range was down here. So if it's going to reach as far as that by our overlapping fibs, that
86 00:16:32,190 --> 00:16:43,380 means 126 81 could be the low, but then you have to factor in the spread dollar CAD. So you may end up getting, you know, 2685, that would be your and that's
87 00:16:43,380 --> 00:16:56,430 the best case scenario. Okay, so 2685 may get you out. If it trades at 2681, you think it's going there and you want to cover you got to add your spread to that.
88 00:16:56,850 --> 00:17:08,280 So we'll say 2685 would be your, your limit. To get out, I want to be out before that, I want to be out of 2695 I want to be just a little bit ahead of all those
89 00:17:08,310 --> 00:17:17,280 overlapping fields because I want to make sure I get my price. So I'll always leave a little bit on that's why I see most of my exits, always had that little
90 00:17:17,280 --> 00:17:26,280 bit of a tail of move left, I just want to be out. I don't want to be in there demanding I get the very lowest low, I can call that and make that public and
91 00:17:26,280 --> 00:17:34,470 look like a rock star. But I'm hardly ever really in news moves all the way to the end because I don't trust them. And think about what we're dealing with here
92 00:17:34,500 --> 00:17:43,110 dealing with Fibonacci, okay. And we're also looking at a variance between everyone's delivery on the price, everyone's price is gonna be slightly
93 00:17:43,110 --> 00:17:49,230 different. And that's the reason why I teach you to use the bulk of the volume with the body of the candle and not the wicks. The wicks are always going to be
94 00:17:49,230 --> 00:18:00,660 slightly off relative to your brokers. Okay. And there's a lot more to this, that I can teach you by way of the mentorship. But this is certainly well enough
95 00:18:00,870 --> 00:18:06,750 for those individuals that can't afford to be part of the mentorship or just don't have in mind to ever want to do it. That's fine. That's cool. I'm not
96 00:18:06,750 --> 00:18:18,930 twisting your arm. But I've given you enough here to find reasons to suspect a highly probable target for weekly objectives. Until next time, wish good luck
97 00:18:18,960 --> 00:18:19,650 and good trading.
98 00:18:24,599 --> 00:18:30,509 Hopefully you enjoyed this presentation. If you'd like to find more, you can visit my website at the inner circle trader.com