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Version 1.1 by Drunk Monkey on 2020-11-20 16:33
Show last authors
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3 ICT: Okay folks, we are in The second
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7 part of the ICT scout sniper field
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11 training guide,
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15 and this
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19 episode is going to be dealing with
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23 boot camp.
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27 Okay, now what are we gonna be covering
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31 in this presentation?
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35 Well first we're gonna be reviewing the
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39 previous episodes assignment, the mark
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43 referring to time of day and the effects
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47 it has on price. We're gonna be looking
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51 at the day of the week, and again, its
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55 influence over price. We're gonna be
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59 covering institutional orders and
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63 pairing of orders. We're gonna be
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67 briefly introducing the market makers
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71 business model. We're
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75 gonna be looking at characteristics of a
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79 price swing,
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83 specifically dealing with time.
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87 Price
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91 and melding the two with support and
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95 resistance.
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99 We're gonna discuss price fractals and
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103 their role in analysis.
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107 And we're going to give you another
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111 homework assignment
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115 price reactions.
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119 Okay, we are looking at a daily screen
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123 capture of the Euro USD pair. And this
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127 is a daily chart again, it's
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131 specifically highlighting a swing in
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135 price that we're going to be dealing
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139 with. It's going to be in the latter
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143 stages of this price swing. But it's not
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147 imperative that you understand what
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151 caused that swing lower at this
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155 juncture, because we will cover in
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159 greater detail all of these types of
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163 moves and how we can fare that type of
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167 price action out in later episodes in
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171 the series. But for now, we're going to
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173 44
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175 be dealing specifically with the fiber
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179 in this
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183 pair how we can look for
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185 47
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187 turning points and how we can end
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191 dissipates certain characteristics and
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195 price action that repeat over and over
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199 and over again. And I promise you when
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203 you are finished watching this episode,
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207 you're gonna have a far greater
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211 understanding of what price action is
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215 like and how you can use it going
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219 forward in the new week of forex
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223 trading.
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227 Okay, if you remember the last episode,
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231 I gave you some homework regarding the
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235 first week of july of 2013. Now if
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239 you're watching this video and it's a
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243 number of years old, I apologize that
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247 you got to the party too late but that's
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251 not my fault now as it but we're going
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255 to go over some some details here so
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259 that we can at least a digest the the
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263 main focal points and how you can use it
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267 going forward. These are very generic
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271 concepts, they do not fall out of favor.
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275 They're not a fad gimmick indicator.
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279 These are essential core tenants to
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283 price out And I promise if you apply
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287 these things not only just to the fiber
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291 pair, but if you look at the cable, and
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295 all the other majors and
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299 the exotics as well.
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301 76
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303 You'll see these reoccurring themes that
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307 take place over and over again, in price
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311 action. Now the screen capture we're
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315 looking at here is a 15 minute basis.
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319 And we're going
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323 to digest
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327 a lot of information just in this small
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331 sample size of price data. But let's
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335 look at the second portion of study we
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339 gave as part of your assignment in the
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343 previous episode.
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347 Now we're looking at a price rally.
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351 Okay, and in this price swing, we're
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355 going to be breaking this specific price
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359 swing down, and how we can utilize
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363 generic concepts that go along with
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367 every facet of smart money trading. Now,
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369 93
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371 again, this is a 15 minute timeframe,
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375 but we're going to Applying Smart Money
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379 concepts to this timeframe that are
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382 00:05:04,380 ~-~-> 00:05:06,030
383 based on a higher time frame, which is
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387 where the institutional level traders
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391 and banking traders do the majority of
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395 their analysis.
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399 Okay, folks, we are looking at the
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403 fiber. Euro USD is the daily chart, and
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407 this is the top or the highest point of
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411 the price swing that we're going to be
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413 104
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415 analyzing and our first sample size
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417 105
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419 of
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423 price action, but I
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425 107
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427 want you to keep your eye on what takes
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429 108
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431 place in price.
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433 109
434 00:05:48,330 ~-~-> 00:05:49,920
435 And as price starts to slide down,
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437 110
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439 you'll start to see a pause in price
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441 111
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443 action here and you see this is the
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445 112
446 00:05:57,780 ~-~-> 00:06:00,930
447 first bullish candle on the down like
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449 113
450 00:06:01,440 ~-~-> 00:06:02,730
451 now if you look to the left over here,
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453 114
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455 you'll see a small little consolidation
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457 115
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459 in here.
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461 116
462 00:06:06,390 ~-~-> 00:06:08,370
463 And you keep going over to the left,
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465 117
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467 you'll see some old highs. A
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469 118
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471 consolidation with some highs and bodies
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473 119
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475 of candles. A short term high here and a
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477 120
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479 turning point here and turning point
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481 121
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483 here
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485 122
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487 prior
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489 123
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491 to that big leg up in price here
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493 124
494 00:06:30,900 ~-~-> 00:06:33,780
495 Okay, this was the lowest low
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497 125
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499 as price rallied up.
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501 126
502 00:06:37,170 ~-~-> 00:06:38,850
503 It made a high here as well and then
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505 127
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507 started to move lower
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509 128
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511 in a very large price swing. It came
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513 129
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515 down to a previous level of support. Now
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517 130
518 00:06:46,560 ~-~-> 00:06:48,870
519 the reason why I have this level here is
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521 131
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523 if you look at the body, and wicks of
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525 132
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527 all the candles in here yet the below
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529 133
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531 the wick here, the wick essentially in
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533 134
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535 here, the top of this candles wick this
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537 135
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539 work here, just stop there just a little
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541 136
542 00:07:01,920 ~-~-> 00:07:05,310
543 bit. Again, same here, the bodies of the
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545 137
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547 candles here, okay. And if you look at
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549 138
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551 really essentially it's the 127 70 level
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553 139
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555 and price when it come down to that same
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557 140
558 00:07:14,850 ~-~-> 00:07:16,710
559 price point again, the body of the
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562 00:07:16,710 ~-~-> 00:07:20,010
563 candle stopped here. granted the wick of
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565 142
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567 the candle trade through just a little
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569 143
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571 bit. Then we had the body that came here
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573 144
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575 as well with a small little wick as
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577 145
578 00:07:25,680 ~-~-> 00:07:28,770
579 well. The body of the candle Here comes
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581 146
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583 right down to that same level rallies
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585 147
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587 and trades right through it one more
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591 time and then starts to rally off. Price
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593 149
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595 comes back down makes this smaller short
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597 150
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599 term swing lower. Okay, and I'm promise
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601 151
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603 I'm taking you somewhere I'm just going
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605 152
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607 over the major price reactions and
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609 153
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611 levels that you would be hunting in your
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613 154
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615 future analysis in your demo account
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617 155
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619 trading as you develop as a trader. When
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621 156
622 00:07:58,080 ~-~-> 00:08:00,210
623 price bounced off this level, can right
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625 157
626 00:08:00,210 ~-~-> 00:08:02,790
627 back down to the same point or
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629 158
630 00:08:03,240 ~-~-> 00:08:06,090
631 consolidation in here. And as price come
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633 159
634 00:08:06,090 ~-~-> 00:08:08,490
635 down to that same price level, notice we
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637 160
638 00:08:08,490 ~-~-> 00:08:11,430
639 fail to get to that same old low or
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641 161
642 00:08:11,460 ~-~-> 00:08:14,280
643 support level 127 70 price found the new
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645 162
646 00:08:14,280 ~-~-> 00:08:18,390
647 level consolidated and moved out of that
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649 163
650 00:08:18,390 ~-~-> 00:08:20,220
651 consolidation is starting to trade
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653 164
654 00:08:20,220 ~-~-> 00:08:22,590
655 higher. Now this price swing in here,
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657 165
658 00:08:23,400 ~-~-> 00:08:28,710
659 okay, is the basis of this price rally
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661 166
662 00:08:28,710 ~-~-> 00:08:32,640
663 here. Now as price starts to move lower,
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665 167
666 00:08:33,150 ~-~-> 00:08:35,310
667 we would be looking for areas where we
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669 168
670 00:08:35,310 ~-~-> 00:08:37,200
671 would reasonably expect to see price
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673 169
674 00:08:37,230 ~-~-> 00:08:38,100
675 to stall
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677 170
678 00:08:39,420 ~-~-> 00:08:40,890
679 price bounced here.
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681 171
682 00:08:41,670 ~-~-> 00:08:44,820
683 Now just for illustrative purposes,
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685 172
686 00:08:44,820 ~-~-> 00:08:46,680
687 let's just use the very low the wick
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689 173
690 00:08:46,740 ~-~-> 00:08:47,190
691 here.
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693 174
694 00:08:49,140 ~-~-> 00:08:51,420
695 and double check the candle make sure I
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697 175
698 00:08:51,420 ~-~-> 00:08:55,050
699 am in deed on the low, the low is
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701 176
702 00:08:55,050 ~-~-> 00:09:00,510
703 130 58. And we're going to move Our
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705 177
706 00:09:01,440 ~-~-> 00:09:04,020
707 level right to that point, they can see
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709 178
710 00:09:04,020 ~-~-> 00:09:06,390
711 this swing high. Remember we talked
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713 179
714 00:09:06,390 ~-~-> 00:09:08,790
715 about in the first episode, a swing high
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717 180
718 00:09:08,820 ~-~-> 00:09:12,060
719 is a high that has a lower high on
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721 181
722 00:09:12,060 ~-~-> 00:09:13,890
723 either side of it. Okay?
724
725 182
726 00:09:15,540 ~-~-> 00:09:16,800
727 We have a
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729 183
730 00:09:19,080 ~-~-> 00:09:20,850
731 nice level of support resistance in
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733 184
734 00:09:20,850 ~-~-> 00:09:21,150
735 here.
736
737 185
738 00:09:24,210 ~-~-> 00:09:27,180
739 Same thing here, my support resistance,
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741 186
742 00:09:28,470 ~-~-> 00:09:29,850
743 my support resistance,
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745 187
746 00:09:31,260 ~-~-> 00:09:32,550
747 support resistance.
748
749 188
750 00:09:33,630 ~-~-> 00:09:35,790
751 Again, same here, okay, we have a nice
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753 189
754 00:09:35,790 ~-~-> 00:09:38,460
755 swing high as well. So this price point,
756
757 190
758 00:09:38,820 ~-~-> 00:09:41,550
759 while it is an off, even number, it
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761 191
762 00:09:41,550 ~-~-> 00:09:43,290
763 could be very easily calibrated to
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765 192
766 00:09:43,290 ~-~-> 00:09:47,910
767 130 60 level. Okay, which I think is a
768
769 193
770 00:09:47,910 ~-~-> 00:09:50,490
771 much more reasonable level to move this
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773 194
774 00:09:50,490 ~-~-> 00:09:53,100
775 line to. And what that means is that
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777 195
778 00:09:53,430 ~-~-> 00:09:57,060
779 institutions like to use large, round
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781 196
782 00:09:57,060 ~-~-> 00:09:59,820
783 numbers. They're not so finicky in terms
784
785 197
786 00:09:59,820 ~-~-> 00:10:02,550
787 of To get like the the eights and the
788
789 198
790 00:10:02,550 ~-~-> 00:10:05,340
791 fours and the threes and such, in terms
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793 199
794 00:10:05,340 ~-~-> 00:10:08,430
795 of filling, they do this use the round
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797 200
798 00:10:08,430 ~-~-> 00:10:09,630
799 numbers to get their
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801 201
802 00:10:10,560 ~-~-> 00:10:11,430
803 orders often.
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805 202
806 00:10:12,630 ~-~-> 00:10:13,440
807 And I'm just going to
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809 203
810 00:10:14,669 ~-~-> 00:10:16,319
811 key that in here manually so you can
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813 204
814 00:10:16,319 ~-~-> 00:10:16,709
815 see.
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817 205
818 00:10:19,169 ~-~-> 00:10:22,319
819 So I'm using 130 60 as around number,
820
821 206
822 00:10:22,589 ~-~-> 00:10:24,089
823 you see it gets right to a high here as
824
825 207
826 00:10:24,089 ~-~-> 00:10:26,549
827 well. And again, it doesn't really
828
829 208
830 00:10:26,549 ~-~-> 00:10:28,229
831 essentially change too much over here.
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833 209
834 00:10:28,919 ~-~-> 00:10:30,089
835 But when we get down to a smaller
836
837 210
838 00:10:30,089 ~-~-> 00:10:33,089
839 timeframe, it might be more useful to us
840
841 211
842 00:10:33,149 ~-~-> 00:10:36,509
843 as we see the levels more closely
844
845 212
846 00:10:36,509 ~-~-> 00:10:39,149
847 calibrated to a smaller, round number.
848
849 213
850 00:10:40,979 ~-~-> 00:10:42,719
851 Now when price gives a bullish candle
852
853 214
854 00:10:42,719 ~-~-> 00:10:45,989
855 here, this by itself indicates a lot of
856
857 215
858 00:10:45,989 ~-~-> 00:10:49,709
859 different things. And this episode will
860
861 216
862 00:10:49,709 ~-~-> 00:10:54,329
863 not be own, long enough to go into the
864
865 217
866 00:10:54,329 ~-~-> 00:10:56,279
867 information that these types of candles
868
869 218
870 00:10:56,279 ~-~-> 00:10:58,079
871 create. But I promise we're going to
872
873 219
874 00:10:58,079 ~-~-> 00:10:59,609
875 delve into those things in later
876
877 220
878 00:10:59,609 ~-~-> 00:11:01,049
879 episodes. But for now we're going to be
880
881 221
882 00:11:01,049 ~-~-> 00:11:02,189
883 giving a lot of
884
885 222
886 00:11:06,419 ~-~-> 00:11:08,489
887 generic broad
888
889 223
890 00:11:08,639 ~-~-> 00:11:11,909
891 ideas about how smart money operates in
892
893 224
894 00:11:11,909 ~-~-> 00:11:13,799
895 the marketplace, and how you can more or
896
897 225
898 00:11:13,799 ~-~-> 00:11:17,069
899 less fall their coattails and try to
900
901 226
902 00:11:17,069 ~-~-> 00:11:20,279
903 hopefully see a profitable swing in your
904
905 227
906 00:11:20,279 ~-~-> 00:11:23,399
907 favor. Now as price continues to move
908
909 228
910 00:11:23,399 ~-~-> 00:11:28,439
911 lower Okay, this same bullish candle,
912
913 229
914 00:11:29,069 ~-~-> 00:11:33,089
915 okay, when we cause this bounce in here,
916
917 230
918 00:11:33,539 ~-~-> 00:11:37,649
919 something about this level at 130 60 was
920
921 231
922 00:11:37,649 ~-~-> 00:11:39,869
923 a catalyst. Okay, now institutional
924
925 232
926 00:11:39,869 ~-~-> 00:11:43,409
927 level trading, again, revolves around
928
929 233
930 00:11:43,409 ~-~-> 00:11:45,839
931 round numbers. So a lot of questions I
932
933 234
934 00:11:45,839 ~-~-> 00:11:48,419
935 get through email and if haunting a
936
937 235
938 00:11:48,419 ~-~-> 00:11:51,419
939 particular forum or such they will
940
941 236
942 00:11:51,479 ~-~-> 00:11:55,619
943 invariably ask me, hey, ICT, can we get
944
945 237
946 00:11:55,619 ~-~-> 00:11:56,969
947 a little bit more understanding of how
948
949 238
950 00:11:56,969 ~-~-> 00:11:58,589
951 it is that you arrive at what would be
952
953 239
954 00:11:58,589 ~-~-> 00:12:00,509
955 considered your key support resistance
956
957 240
958 00:12:00,509 ~-~-> 00:12:02,879
959 levels. And what do you mean by
960
961 241
962 00:12:02,879 ~-~-> 00:12:05,399
963 institutional levels when you say, price
964
965 242
966 00:12:05,429 ~-~-> 00:12:06,269
967 is going to come down to this
968
969 243
970 00:12:06,269 ~-~-> 00:12:09,599
971 institution level, or you expect to see
972
973 244
974 00:12:10,229 ~-~-> 00:12:13,259
975 particular level swept, okay? I'm going
976
977 245
978 00:12:13,259 ~-~-> 00:12:15,929
979 to cover that in this module. So that
980
981 246
982 00:12:15,929 ~-~-> 00:12:17,069
983 way you have a greater understanding
984
985 247
986 00:12:17,129 ~-~-> 00:12:18,689
987 that way not only will you understand my
988
989 248
990 00:12:18,689 ~-~-> 00:12:21,119
991 videos when I do reviews and in trade
992
993 249
994 00:12:21,119 ~-~-> 00:12:23,579
995 recaps, what I'm referring to, but
996
997 250
998 00:12:23,579 ~-~-> 00:12:26,339
999 you're also going to see how to look for
1000
1001 251
1002 00:12:26,339 ~-~-> 00:12:27,989
1003 it in your own charts. And you
1004
1005 252
1006 00:12:27,989 ~-~-> 00:12:29,789
1007 understand what it is specifically that
1008
1009 253
1010 00:12:30,119 ~-~-> 00:12:33,839
1011 price action is doing and why. So price
1012
1013 254
1014 00:12:33,869 ~-~-> 00:12:38,489
1015 bounces here, okay? At an old swing high
1016
1017 255
1018 00:12:39,629 ~-~-> 00:12:42,869
1019 bounces here, now, price trades through
1020
1021 256
1022 00:12:42,869 ~-~-> 00:12:46,019
1023 it. But if price ever comes back at that
1024
1025 257
1026 00:12:46,019 ~-~-> 00:12:49,829
1027 same level, that is a potential area of
1028
1029 258
1030 00:12:50,549 ~-~-> 00:12:53,939
1031 a setup. Okay, so we could look for a
1032
1033 259
1034 00:12:53,969 ~-~-> 00:12:55,859
1035 selling opportunity should price get to
1036
1037 260
1038 00:12:55,859 ~-~-> 00:12:57,029
1039 that same level again
1040
1041 261
1042 00:12:58,950 ~-~-> 00:12:59,700
1043 in the future
1044
1045 262
1046 00:13:00,000 ~-~-> 00:13:01,830
1047 You can see price trades right up to
1048
1049 263
1050 00:13:01,830 ~-~-> 00:13:04,680
1051 this level here. The high of this candle
1052
1053 264
1054 00:13:05,070 ~-~-> 00:13:10,410
1055 comes right in at 130 59. So we felt one
1056
1057 265
1058 00:13:10,410 ~-~-> 00:13:12,960
1059 PIP short of the actual round number.
1060
1061 266
1062 00:13:13,590 ~-~-> 00:13:14,910
1063 But you'll see when we get down to a
1064
1065 267
1066 00:13:14,910 ~-~-> 00:13:16,320
1067 smaller timeframe, it's really doesn't
1068
1069 268
1070 00:13:16,320 ~-~-> 00:13:17,670
1071 make that much of a difference because
1072
1073 269
1074 00:13:17,670 ~-~-> 00:13:18,990
1075 there's a lot of other factors that will
1076
1077 270
1078 00:13:18,990 ~-~-> 00:13:20,940
1079 be more beneficial to us.
1080
1081 271
1082 00:13:22,019 ~-~-> 00:13:22,829
1083 So now we have
1084
1085 272
1086 00:13:23,820 ~-~-> 00:13:25,920
1087 the next candle here, it sweeps up
1088
1089 273
1090 00:13:25,920 ~-~-> 00:13:29,460
1091 through it and then trades lower and
1092
1093 274
1094 00:13:29,460 ~-~-> 00:13:32,520
1095 closes on almost a low that the candle
1096
1097 275
1098 00:13:34,920 ~-~-> 00:13:36,540
1099 price trades right back up into a
1100
1101 276
1102 00:13:36,540 ~-~-> 00:13:38,040
1103 bullish candle here right into our
1104
1105 277
1106 00:13:38,040 ~-~-> 00:13:40,650
1107 130 60. Now the high again on this
1108
1109 278
1110 00:13:40,650 ~-~-> 00:13:44,700
1111 candle comes in at 130 73 so we're 13
1112
1113 279
1114 00:13:44,700 ~-~-> 00:13:46,740
1115 pips off so again, we're looking at a
1116
1117 280
1118 00:13:46,740 ~-~-> 00:13:47,490
1119 daily chart.
1120
1121 281
1122 00:13:48,029 ~-~-> 00:13:49,889
1123 So if we're going to be just
1124
1125 282
1126 00:13:50,399 ~-~-> 00:13:52,319
1127 off by 13 pips and we're looking at
1128
1129 283
1130 00:13:52,319 ~-~-> 00:13:55,229
1131 daily ranges. Again, these are all
1132
1133 284
1134 00:13:55,679 ~-~-> 00:13:57,029
1135 full daily bars.
1136
1137 285
1138 00:13:57,690 ~-~-> 00:14:01,080
1139 That's not bad in terms of You know,
1140
1141 286
1142 00:14:01,080 ~-~-> 00:14:03,150
1143 highlighting areas of potential
1144
1145 287
1146 00:14:04,769 ~-~-> 00:14:05,789
1147 setups or
1148
1149 288
1150 00:14:05,789 ~-~-> 00:14:08,519
1151 bounces and assets, your, your framework
1152
1153 289
1154 00:14:08,519 ~-~-> 00:14:10,649
1155 is going to build upon this. Because
1156
1157 290
1158 00:14:10,649 ~-~-> 00:14:12,359
1159 it's not about getting the weekly high
1160
1161 291
1162 00:14:12,359 ~-~-> 00:14:14,219
1163 and writing only to Friday, or the
1164
1165 292
1166 00:14:14,219 ~-~-> 00:14:15,539
1167 weekly, low Friday, you know, either
1168
1169 293
1170 00:14:15,539 ~-~-> 00:14:17,249
1171 Friday or getting 1000 pips a month,
1172
1173 294
1174 00:14:17,669 ~-~-> 00:14:18,659
1175 we're trying to keep up with the next
1176
1177 295
1178 00:14:18,659 ~-~-> 00:14:21,629
1179 guy learn to my concepts. That is not
1180
1181 296
1182 00:14:21,629 ~-~-> 00:14:22,319
1183 what you're trying to do in the
1184
1185 297
1186 00:14:22,319 ~-~-> 00:14:24,059
1187 beginning, what you're trying to do is
1188
1189 298
1190 00:14:24,059 ~-~-> 00:14:27,449
1191 build a fundamental base of price
1192
1193 299
1194 00:14:27,449 ~-~-> 00:14:28,979
1195 action. And we're going to build and
1196
1197 300
1198 00:14:28,979 ~-~-> 00:14:31,409
1199 expand on that each episode and a
1200
1201 301
1202 00:14:31,409 ~-~-> 00:14:32,759
1203 promise by the end of the eighth
1204
1205 302
1206 00:14:33,059 ~-~-> 00:14:35,399
1207 episode, you're going to have a wicked
1208
1209 303
1210 00:14:35,399 ~-~-> 00:14:36,869
1211 understanding of price action, and
1212
1213 304
1214 00:14:36,869 ~-~-> 00:14:38,069
1215 you're going to be blowing your socks
1216
1217 305
1218 00:14:38,069 ~-~-> 00:14:40,139
1219 off. And not only will you be impressing
1220
1221 306
1222 00:14:40,139 ~-~-> 00:14:40,829
1223 yourself
1224
1225 307
1226 00:14:40,860 ~-~-> 00:14:42,300
1227 as you go and deep,
1228
1229 308
1230 00:14:42,689 ~-~-> 00:14:44,789
1231 deeper study of price action, but you're
1232
1233 309
1234 00:14:44,789 ~-~-> 00:14:47,279
1235 going to start seeing by studying the
1236
1237 310
1238 00:14:47,309 ~-~-> 00:14:50,789
1239 other, quote unquote street money or
1240
1241 311
1242 00:14:50,819 ~-~-> 00:14:53,219
1243 less informed traders that invariably
1244
1245 312
1246 00:14:53,219 ~-~-> 00:14:56,219
1247 talk on forums or you see them even in
1248
1249 313
1250 00:14:56,489 ~-~-> 00:14:57,299
1251 so called
1252
1253 314
1254 00:14:58,049 ~-~-> 00:14:59,999
1255 expert circles, they really have no idea
1256
1257 315
1258 00:14:59,999 ~-~-> 00:15:00,989
1259 Do to talking about,
1260
1261 316
1262 00:15:01,350 ~-~-> 00:15:05,580
1263 okay. So, again, really go through this
1264
1265 317
1266 00:15:05,580 ~-~-> 00:15:08,460
1267 video module a lot, not just one sweep
1268
1269 318
1270 00:15:08,460 ~-~-> 00:15:09,540
1271 isn't going to do it, you're going to be
1272
1273 319
1274 00:15:09,540 ~-~-> 00:15:10,770
1275 going through this a couple different
1276
1277 320
1278 00:15:10,770 ~-~-> 00:15:12,330
1279 times. And there's a lot of things
1280
1281 321
1282 00:15:12,330 ~-~-> 00:15:13,320
1283 that's going to go right over your head
1284
1285 322
1286 00:15:13,320 ~-~-> 00:15:15,480
1287 the first few times, but I promise by
1288
1289 323
1290 00:15:15,540 ~-~-> 00:15:18,240
1291 taking notes, yes, taking notes.
1292
1293 324
1294 00:15:18,270 ~-~-> 00:15:19,740
1295 Remember, you must be having a notepad
1296
1297 325
1298 00:15:19,740 ~-~-> 00:15:21,210
1299 next to you as you watch these videos.
1300
1301 326
1302 00:15:21,720 ~-~-> 00:15:24,030
1303 Because when we discuss a specific
1304
1305 327
1306 00:15:24,030 ~-~-> 00:15:26,640
1307 topic, you're going to be wanting to
1308
1309 328
1310 00:15:26,640 ~-~-> 00:15:29,280
1311 know the details or specifics around
1312
1313 329
1314 00:15:29,280 ~-~-> 00:15:31,260
1315 that concept so that we, it's not that
1316
1317 330
1318 00:15:31,260 ~-~-> 00:15:32,310
1319 you have to go back to this video and
1320
1321 331
1322 00:15:32,310 ~-~-> 00:15:35,070
1323 see it or which video it was that
1324
1325 332
1326 00:15:35,130 ~-~-> 00:15:36,930
1327 specifically talked about this concept
1328
1329 333
1330 00:15:36,930 ~-~-> 00:15:39,120
1331 of that you'll know where to get the
1332
1333 334
1334 00:15:39,120 ~-~-> 00:15:41,850
1335 information from Okay, and have it apply
1336
1337 335
1338 00:15:41,880 ~-~-> 00:15:44,310
1339 without spending too much time chasing
1340
1341 336
1342 00:15:44,310 ~-~-> 00:15:46,830
1343 after where it is in the fundamental
1344
1345 337
1346 00:15:46,830 ~-~-> 00:15:49,350
1347 concept behind it all. So again, we have
1348
1349 338
1350 00:15:49,350 ~-~-> 00:15:52,110
1351 that 130 60 level in here. Okay, this
1352
1353 339
1354 00:15:52,110 ~-~-> 00:15:53,640
1355 daily candle trades up into it to
1356
1357 340
1358 00:15:53,640 ~-~-> 00:15:54,060
1359 squeeze
1360
1361 341
1362 00:15:54,119 ~-~-> 00:15:57,059
1363 through about 13 pips and then the next
1364
1365 342
1366 00:15:57,599 ~-~-> 00:15:59,669
1367 candle we have a very nice reaction
1368
1369 343
1370 00:15:59,669 ~-~-> 00:16:02,309
1371 here. Trading lower. Now again, all
1372
1373 344
1374 00:16:02,309 ~-~-> 00:16:05,549
1375 we're looking at is how prices moving on
1376
1377 345
1378 00:16:05,549 ~-~-> 00:16:07,889
1379 a daily chart. So as we see price moving
1380
1381 346
1382 00:16:07,889 ~-~-> 00:16:11,189
1383 lower, we just keyed off of a nice price
1384
1385 347
1386 00:16:11,369 ~-~-> 00:16:13,529
1387 level here. Now as price is trading
1388
1389 348
1390 00:16:13,529 ~-~-> 00:16:15,419
1391 lower now where would we reasonably
1392
1393 349
1394 00:16:15,419 ~-~-> 00:16:17,579
1395 expect price to trade back down to if it
1396
1397 350
1398 00:16:17,579 ~-~-> 00:16:19,469
1399 continues at all, because there's no
1400
1401 351
1402 00:16:19,469 ~-~-> 00:16:20,549
1403 guarantee that price is going to
1404
1405 352
1406 00:16:20,549 ~-~-> 00:16:23,369
1407 continue lower. But because we have seen
1408
1409 353
1410 00:16:23,369 ~-~-> 00:16:24,569
1411 price trade off such a
1412
1413 354
1414 00:16:24,690 ~-~-> 00:16:25,290
1415 nice,
1416
1417 355
1418 00:16:25,889 ~-~-> 00:16:28,319
1419 move lower, we broke through old highs.
1420
1421 356
1422 00:16:28,619 ~-~-> 00:16:30,389
1423 So now we're going to be looking for old
1424
1425 357
1426 00:16:30,389 ~-~-> 00:16:34,439
1427 lows. They are found here. And if price
1428
1429 358
1430 00:16:34,529 ~-~-> 00:16:35,969
1431 trades through that, where do we go
1432
1433 359
1434 00:16:35,969 ~-~-> 00:16:38,999
1435 next? These lows, and if price was to
1436
1437 360
1438 00:16:38,999 ~-~-> 00:16:40,109
1439 trade through these, where would we go
1440
1441 361
1442 00:16:40,109 ~-~-> 00:16:44,369
1443 next? These lows, okay. And that's what
1444
1445 362
1446 00:16:44,369 ~-~-> 00:16:47,459
1447 you're looking for, again. A
1448
1449 363
1450 00:16:47,789 ~-~-> 00:16:50,699
1451 consistently highly successful
1452
1453 364
1454 00:16:51,210 ~-~-> 00:16:51,900
1455 trader
1456
1457 365
1458 00:16:53,340 ~-~-> 00:16:55,920
1459 does majority of his analysis on the
1460
1461 366
1462 00:16:55,920 ~-~-> 00:16:58,860
1463 higher timeframes, okay? You don't have
1464
1465 367
1466 00:16:58,860 ~-~-> 00:17:00,990
1467 to spend so much time Off The Charts and
1468
1469 368
1470 00:17:00,990 ~-~-> 00:17:02,340
1471 you don't have to spend so much time on
1472
1473 369
1474 00:17:02,340 ~-~-> 00:17:04,050
1475 the weekly charts, but it's advisable.
1476
1477 370
1478 00:17:04,590 ~-~-> 00:17:04,920
1479 But
1480
1481 371
1482 00:17:05,130 ~-~-> 00:17:06,000
1483 certainly
1484
1485 372
1486 00:17:06,029 ~-~-> 00:17:08,639
1487 spend a lot of time on your daily, your
1488
1489 373
1490 00:17:08,639 ~-~-> 00:17:12,719
1491 four hour and one hour only if you can't
1492
1493 374
1494 00:17:12,719 ~-~-> 00:17:15,509
1495 really discern anything. Like right now,
1496
1497 375
1498 00:17:15,509 ~-~-> 00:17:17,519
1499 if you'd be trading in a short term day
1500
1501 376
1502 00:17:17,519 ~-~-> 00:17:20,129
1503 trading you, that's when you spend a
1504
1505 377
1506 00:17:20,129 ~-~-> 00:17:21,299
1507 whole lot of time in your alley. But
1508
1509 378
1510 00:17:21,299 ~-~-> 00:17:22,949
1511 really focus on your four hour and daily
1512
1513 379
1514 00:17:22,949 ~-~-> 00:17:24,749
1515 because that's where the banks, the
1516
1517 380
1518 00:17:24,749 ~-~-> 00:17:26,429
1519 institutional level traders and smart
1520
1521 381
1522 00:17:26,429 ~-~-> 00:17:29,009
1523 guys, like you're going to try to be in
1524
1525 382
1526 00:17:29,009 ~-~-> 00:17:31,319
1527 the future by applying these concepts.
1528
1529 383
1530 00:17:31,859 ~-~-> 00:17:32,939
1531 You're going to be spending the majority
1532
1533 384
1534 00:17:32,939 ~-~-> 00:17:34,739
1535 your time doing your analysis on these
1536
1537 385
1538 00:17:34,739 ~-~-> 00:17:37,469
1539 timeframes. Now it flies in the face of
1540
1541 386
1542 00:17:37,469 ~-~-> 00:17:41,429
1543 what you're commonly referred to as this
1544
1545 387
1546 00:17:41,429 ~-~-> 00:17:45,719
1547 is too slow. That's fine. That's exactly
1548
1549 388
1550 00:17:45,719 ~-~-> 00:17:46,829
1551 what you want, because you're going to
1552
1553 389
1554 00:17:46,829 ~-~-> 00:17:49,259
1555 learn later on this and in this episode,
1556
1557 390
1558 00:17:49,589 ~-~-> 00:17:54,329
1559 slow is good. Okay. And one of the
1560
1561 391
1562 00:17:54,629 ~-~-> 00:17:56,819
1563 central tenants to understanding what
1564
1565 392
1566 00:17:56,819 ~-~-> 00:17:58,379
1567 you should be doing as a trader is
1568
1569 393
1570 00:17:58,919 ~-~-> 00:18:02,069
1571 understanding what traders are hopefully
1572
1573 394
1574 00:18:02,069 ~-~-> 00:18:03,899
1575 trying to capitalize on and that's price
1576
1577 395
1578 00:18:03,899 ~-~-> 00:18:05,519
1579 movement. Now I'll give you a quick
1580
1581 396
1582 00:18:05,519 ~-~-> 00:18:06,599
1583 question before we go any further.
1584
1585 397
1586 00:18:07,860 ~-~-> 00:18:09,630
1587 Can you as a retail trader,
1588
1589 398
1590 00:18:10,409 ~-~-> 00:18:11,219
1591 move the market?
1592
1593 399
1594 00:18:13,559 ~-~-> 00:18:14,939
1595 No, you can't.
1596
1597 400
1598 00:18:16,139 ~-~-> 00:18:19,409
1599 Can we as a group of retail traders
1600
1601 401
1602 00:18:19,409 ~-~-> 00:18:22,409
1603 moved to market? Sure, on a short term
1604
1605 402
1606 00:18:22,409 ~-~-> 00:18:24,809
1607 basis, but not very much. And we're
1608
1609 403
1610 00:18:24,809 ~-~-> 00:18:26,819
1611 talking about a minor little blip in
1612
1613 404
1614 00:18:26,819 ~-~-> 00:18:29,789
1615 price action. So who is it that moves
1616
1617 405
1618 00:18:29,789 ~-~-> 00:18:31,889
1619 price? Who can take price from these
1620
1621 406
1622 00:18:31,889 ~-~-> 00:18:35,759
1623 levels here, all the way down here. They
1624
1625 407
1626 00:18:35,759 ~-~-> 00:18:38,429
1627 are the large dominant players or what
1628
1629 408
1630 00:18:38,459 ~-~-> 00:18:40,079
1631 is commonly referred to as the smart
1632
1633 409
1634 00:18:40,079 ~-~-> 00:18:43,049
1635 money. Same entity takes price from
1636
1637 410
1638 00:18:43,049 ~-~-> 00:18:44,309
1639 these levels up to here.
1640
1641 411
1642 00:18:45,119 ~-~-> 00:18:47,459
1643 And vice versa from this high and this
1644
1645 412
1646 00:18:47,459 ~-~-> 00:18:47,759
1647 low
1648
1649 413
1650 00:18:48,540 ~-~-> 00:18:50,250
1651 and this low to these highs
1652
1653 414
1654 00:18:51,420 ~-~-> 00:18:53,730
1655 this high down to these lows.
1656
1657 415
1658 00:18:55,079 ~-~-> 00:18:56,999
1659 So the question begs is this
1660
1661 416
1662 00:18:58,349 ~-~-> 00:19:00,479
1663 if you're not spending time Trying to
1664
1665 417
1666 00:19:00,479 ~-~-> 00:19:03,869
1667 learn what it is that they do. Okay, on
1668
1669 418
1670 00:19:03,869 ~-~-> 00:19:07,079
1671 a larger timeframes? Aren't you really
1672
1673 419
1674 00:19:07,079 ~-~-> 00:19:09,599
1675 shooting in the dark? I mean, you're
1676
1677 420
1678 00:19:09,599 ~-~-> 00:19:11,069
1679 really not giving yourself any real,
1680
1681 421
1682 00:19:11,549 ~-~-> 00:19:13,769
1683 measurable chance you're stacking the
1684
1685 422
1686 00:19:13,769 ~-~-> 00:19:15,509
1687 odds against yourself, if you're looking
1688
1689 423
1690 00:19:15,509 ~-~-> 00:19:18,299
1691 at timeframes less than 60 minutes all
1692
1693 424
1694 00:19:18,299 ~-~-> 00:19:20,369
1695 the time, because there's no there's no
1696
1697 425
1698 00:19:20,369 ~-~-> 00:19:22,199
1699 neon sign jumping out on your chart
1700
1701 426
1702 00:19:22,199 ~-~-> 00:19:24,989
1703 saying, Okay, this is a buy. Now, you
1704
1705 427
1706 00:19:24,989 ~-~-> 00:19:26,489
1707 may believe that's the case, but I can
1708
1709 428
1710 00:19:26,489 ~-~-> 00:19:29,039
1711 assure you that is not how it works. If
1712
1713 429
1714 00:19:29,039 ~-~-> 00:19:31,949
1715 you spend the time in the exercises that
1716
1717 430
1718 00:19:31,949 ~-~-> 00:19:32,909
1719 we're going to be covering in this
1720
1721 431
1722 00:19:32,909 ~-~-> 00:19:35,999
1723 episode, really roll your sleeves up,
1724
1725 432
1726 00:19:36,749 ~-~-> 00:19:38,609
1727 get yourself some time in front of the
1728
1729 433
1730 00:19:38,609 ~-~-> 00:19:42,179
1731 charts and spend some study not looking
1732
1733 434
1734 00:19:42,179 ~-~-> 00:19:44,189
1735 for trades. You want to be studying what
1736
1737 435
1738 00:19:44,189 ~-~-> 00:19:46,409
1739 price has done in the past, why it's
1740
1741 436
1742 00:19:46,409 ~-~-> 00:19:49,529
1743 behave that way. And I promise you will
1744
1745 437
1746 00:19:49,529 ~-~-> 00:19:51,419
1747 activate your reticular activating
1748
1749 438
1750 00:19:51,419 ~-~-> 00:19:53,369
1751 system where it basically tells you
1752
1753 439
1754 00:19:54,089 ~-~-> 00:19:55,769
1755 every time you see something that you've
1756
1757 440
1758 00:19:55,799 ~-~-> 00:19:58,169
1759 grown accustomed to seeing your your
1760
1761 441
1762 00:19:58,169 ~-~-> 00:19:59,849
1763 brain will immediately allow that to
1764
1765 442
1766 00:19:59,849 ~-~-> 00:20:01,049
1767 happen. Come into your mind and you'll
1768
1769 443
1770 00:20:01,049 ~-~-> 00:20:02,729
1771 receive it. And you'll say, Okay, the
1772
1773 444
1774 00:20:02,729 ~-~-> 00:20:05,249
1775 last time I saw this happened, this is
1776
1777 445
1778 00:20:05,249 ~-~-> 00:20:08,849
1779 what transpired as a later effect. If
1780
1781 446
1782 00:20:08,849 ~-~-> 00:20:11,249
1783 you don't first train your mind to see
1784
1785 447
1786 00:20:11,249 ~-~-> 00:20:13,109
1787 what it is that prices have done in the
1788
1789 448
1790 00:20:13,109 ~-~-> 00:20:14,609
1791 past, and it repeats over and over and
1792
1793 449
1794 00:20:14,609 ~-~-> 00:20:17,759
1795 over again, invariably, you're going to
1796
1797 450
1798 00:20:17,759 ~-~-> 00:20:19,619
1799 be a better trader because of it. Now,
1800
1801 451
1802 00:20:19,619 ~-~-> 00:20:21,329
1803 I'm not saying better trader is
1804
1805 452
1806 00:20:21,329 ~-~-> 00:20:23,519
1807 consistently profitable. That's nothing
1808
1809 453
1810 00:20:23,519 ~-~-> 00:20:25,319
1811 that I can promise. But I can promise
1812
1813 454
1814 00:20:25,319 ~-~-> 00:20:28,349
1815 that you have a much greater grasp on
1816
1817 455
1818 00:20:28,349 ~-~-> 00:20:30,269
1819 what price action is doing. So then you
1820
1821 456
1822 00:20:30,269 ~-~-> 00:20:32,669
1823 can start applying some concepts, either
1824
1825 457
1826 00:20:32,669 ~-~-> 00:20:34,439
1827 from your own repertoire or your toolbox
1828
1829 458
1830 00:20:34,439 ~-~-> 00:20:37,259
1831 that will assist you and making trade
1832
1833 459
1834 00:20:37,259 ~-~-> 00:20:39,329
1835 decisions. Now, again, I'm not
1836
1837 460
1838 00:20:39,359 ~-~-> 00:20:41,009
1839 advocating you use real money,
1840
1841 461
1842 00:20:41,610 ~-~-> 00:20:42,360
1843 learn
1844
1845 462
1846 00:20:42,660 ~-~-> 00:20:44,610
1847 to develop into the trader that you
1848
1849 463
1850 00:20:44,610 ~-~-> 00:20:47,130
1851 aspire to be with these ideas to
1852
1853 464
1854 00:20:47,130 ~-~-> 00:20:49,710
1855 stimulate your development. Again, I
1856
1857 465
1858 00:20:49,710 ~-~-> 00:20:51,150
1859 don't want to credit for your success,
1860
1861 466
1862 00:20:51,210 ~-~-> 00:20:52,410
1863 and I don't want to credit for your
1864
1865 467
1866 00:20:52,410 ~-~-> 00:20:55,080
1867 losses either. So please be responsible
1868
1869 468
1870 00:20:55,080 ~-~-> 00:20:56,250
1871 with the information I'm presenting with
1872
1873 469
1874 00:20:56,250 ~-~-> 00:20:58,590
1875 you in these modules because again, I'm
1876
1877 470
1878 00:20:58,590 ~-~-> 00:21:02,070
1879 not act As an advisor, but on the
1880
1881 471
1882 00:21:02,070 ~-~-> 00:21:04,170
1883 showing you the things I do in my own
1884
1885 472
1886 00:21:04,170 ~-~-> 00:21:05,730
1887 trading and what I've done for almost
1888
1889 473
1890 00:21:05,730 ~-~-> 00:21:08,100
1891 two decades, and I promise if you spend
1892
1893 474
1894 00:21:08,100 ~-~-> 00:21:09,330
1895 some time with it, you're going to see
1896
1897 475
1898 00:21:09,330 ~-~-> 00:21:13,680
1899 some value in it. So we have this 130 60
1900
1901 476
1902 00:21:13,680 ~-~-> 00:21:16,140
1903 level in here, okay, and price starts to
1904
1905 477
1906 00:21:16,140 ~-~-> 00:21:21,360
1907 trade off. And as price moves lower,
1908
1909 478
1910 00:21:21,780 ~-~-> 00:21:24,420
1911 again, we're eyeballing these levels in
1912
1913 479
1914 00:21:24,420 ~-~-> 00:21:27,180
1915 here. Now, as price starts to move into
1916
1917 480
1918 00:21:27,180 ~-~-> 00:21:29,460
1919 these lows, we could reasonably expect
1920
1921 481
1922 00:21:29,460 ~-~-> 00:21:32,790
1923 to see pauses bounces, but you can see
1924
1925 482
1926 00:21:32,790 ~-~-> 00:21:35,790
1927 there's a very large acceleration moving
1928
1929 483
1930 00:21:35,790 ~-~-> 00:21:36,300
1931 lower
1932
1933 484
1934 00:21:39,150 ~-~-> 00:21:40,800
1935 price just
1936
1937 485
1938 00:21:40,800 ~-~-> 00:21:42,360
1939 gets a small little bounce in here, this
1940
1941 486
1942 00:21:42,360 ~-~-> 00:21:44,490
1943 little bullish candle, okay, and that's
1944
1945 487
1946 00:21:44,550 ~-~-> 00:21:46,020
1947 on the heels of these
1948
1949 488
1950 00:21:46,470 ~-~-> 00:21:48,000
1951 lows here. Okay.
1952
1953 489
1954 00:21:48,810 ~-~-> 00:21:50,880
1955 But price eventually trades all the way
1956
1957 490
1958 00:21:50,880 ~-~-> 00:21:54,930
1959 down right into this 127 70 level,
1960
1961 491
1962 00:21:55,080 ~-~-> 00:21:56,520
1963 again, which is that level we have over
1964
1965 492
1966 00:21:56,520 ~-~-> 00:21:59,130
1967 here and these lows here
1968
1969 493
1970 00:22:00,000 ~-~-> 00:22:02,880
1971 See how price reacts there? Now?
1972
1973 494
1974 00:22:05,250 ~-~-> 00:22:08,100
1975 There, there really isn't any magic to
1976
1977 495
1978 00:22:08,100 ~-~-> 00:22:11,520
1979 this isn't simply understanding what the
1980
1981 496
1982 00:22:11,520 ~-~-> 00:22:13,020
1983 institutions have done in the past at
1984
1985 497
1986 00:22:13,020 ~-~-> 00:22:14,670
1987 that particular level. And when price
1988
1989 498
1990 00:22:14,670 ~-~-> 00:22:17,550
1991 comes back down to it, we anticipate the
1992
1993 499
1994 00:22:17,550 ~-~-> 00:22:20,340
1995 same reaction or similar reaction, in
1996
1997 500
1998 00:22:20,340 ~-~-> 00:22:22,440
1999 deference to what price is going to do.
2000
2001 501
2002 00:22:22,710 ~-~-> 00:22:25,320
2003 Next. We don't have a crystal ball, we
2004
2005 502
2006 00:22:25,320 ~-~-> 00:22:26,430
2007 don't know for sure what's going to
2008
2009 503
2010 00:22:26,430 ~-~-> 00:22:27,900
2011 happen, there's no guarantee that it's
2012
2013 504
2014 00:22:27,900 ~-~-> 00:22:29,460
2015 going to always transpire like this. So
2016
2017 505
2018 00:22:29,460 ~-~-> 00:22:31,380
2019 that's why we use stop loss orders. And
2020
2021 506
2022 00:22:31,380 ~-~-> 00:22:34,200
2023 we use sound prudent risk management
2024
2025 507
2026 00:22:34,200 ~-~-> 00:22:37,140
2027 modules, models, rather, where it gives
2028
2029 508
2030 00:22:37,170 ~-~-> 00:22:37,650
2031 us
2032
2033 509
2034 00:22:37,950 ~-~-> 00:22:38,610
2035 a shield.
2036
2037 510
2038 00:22:39,000 ~-~-> 00:22:40,890
2039 Okay, we're not we're not expecting
2040
2041 511
2042 00:22:40,890 ~-~-> 00:22:42,810
2043 perfection. We're not expecting to know
2044
2045 512
2046 00:22:42,810 ~-~-> 00:22:44,640
2047 every single swing in the marketplace.
2048
2049 513
2050 00:22:44,820 ~-~-> 00:22:46,440
2051 We're not expecting to not be stopped
2052
2053 514
2054 00:22:46,440 ~-~-> 00:22:48,720
2055 out in trades, we're expecting to be
2056
2057 515
2058 00:22:49,110 ~-~-> 00:22:50,670
2059 more consistently
2060
2061 516
2062 00:22:51,780 ~-~-> 00:22:52,530
2063 positive
2064
2065 517
2066 00:22:52,829 ~-~-> 00:22:55,169
2067 than negative and permitting ourselves
2068
2069 518
2070 00:22:55,169 ~-~-> 00:22:57,479
2071 to have that occasional and maybe even
2072
2073 519
2074 00:22:57,479 ~-~-> 00:23:01,619
2075 string of incorrect I'll use that term
2076
2077 520
2078 00:23:01,619 ~-~-> 00:23:02,759
2079 for now because I don't want to talk in
2080
2081 521
2082 00:23:02,759 ~-~-> 00:23:05,759
2083 terms of profitability yet in terms of
2084
2085 522
2086 00:23:06,119 ~-~-> 00:23:09,209
2087 correctness in our analysis, okay,
2088
2089 523
2090 00:23:09,239 ~-~-> 00:23:12,089
2091 that's where you want to be focused on
2092
2093 524
2094 00:23:12,089 ~-~-> 00:23:14,159
2095 now you want to be looking at, are you
2096
2097 525
2098 00:23:14,159 ~-~-> 00:23:15,719
2099 doing the same thing consistently over
2100
2101 526
2102 00:23:15,719 ~-~-> 00:23:18,209
2103 and over and over again, with a large
2104
2105 527
2106 00:23:18,209 ~-~-> 00:23:23,489
2107 sample size of data that supports this
2108
2109 528
2110 00:23:23,489 ~-~-> 00:23:25,049
2111 theory. Okay, I'm going to give you a
2112
2113 529
2114 00:23:25,049 ~-~-> 00:23:26,969
2115 whole lot of things to look at that you
2116
2117 530
2118 00:23:26,969 ~-~-> 00:23:29,039
2119 can study on your own. Because I see
2120
2121 531
2122 00:23:29,039 ~-~-> 00:23:33,749
2123 this also. If you're new to trading, and
2124
2125 532
2126 00:23:33,749 ~-~-> 00:23:35,579
2127 you have your your charts open, maybe
2128
2129 533
2130 00:23:35,579 ~-~-> 00:23:36,839
2131 you're at work or maybe you come home
2132
2133 534
2134 00:23:36,839 ~-~-> 00:23:38,789
2135 from work and use, you know, over the
2136
2137 535
2138 00:23:38,789 ~-~-> 00:23:40,949
2139 table, tennis table yet your laptop or
2140
2141 536
2142 00:23:40,949 ~-~-> 00:23:42,539
2143 iPad or whatever it is you may be using
2144
2145 537
2146 00:23:42,539 ~-~-> 00:23:45,599
2147 to look at charts. And you're looking at
2148
2149 538
2150 00:23:45,599 ~-~-> 00:23:48,599
2151 these price charts and you're staring at
2152
2153 539
2154 00:23:48,599 ~-~-> 00:23:50,729
2155 it like a deer in headlights, trying to
2156
2157 540
2158 00:23:50,729 ~-~-> 00:23:52,289
2159 figure out what it is that you should be
2160
2161 541
2162 00:23:52,289 ~-~-> 00:23:55,499
2163 seeing. A lot of that fog is going to be
2164
2165 542
2166 00:23:55,499 ~-~-> 00:23:57,629
2167 lifted. Okay, won't be completely
2168
2169 543
2170 00:23:57,629 ~-~-> 00:23:59,429
2171 eradicated but it's gonna be lifted in
2172
2173 544
2174 00:23:59,429 ~-~-> 00:24:00,809
2175 this Episode,
2176
2177 545
2178 00:24:00,960 ~-~-> 00:24:01,710
2179 okay, so
2180
2181 546
2182 00:24:02,790 ~-~-> 00:24:05,490
2183 you can clearly see just by this simple
2184
2185 547
2186 00:24:05,490 ~-~-> 00:24:07,050
2187 approach of looking at the higher
2188
2189 548
2190 00:24:07,050 ~-~-> 00:24:10,770
2191 timeframe, charts here. Look at the nice
2192
2193 549
2194 00:24:10,770 ~-~-> 00:24:12,690
2195 price moves here from this same level
2196
2197 550
2198 00:24:12,690 ~-~-> 00:24:15,540
2199 with this highlighted here. Okay? If we
2200
2201 551
2202 00:24:15,540 ~-~-> 00:24:17,760
2203 look in terms of pips. Now again, we're
2204
2205 552
2206 00:24:17,760 ~-~-> 00:24:19,530
2207 not expecting to get the entire move,
2208
2209 553
2210 00:24:19,530 ~-~-> 00:24:21,120
2211 guys, please don't build that as an
2212
2213 554
2214 00:24:21,120 ~-~-> 00:24:23,550
2215 expectation on your part. But if you
2216
2217 555
2218 00:24:23,550 ~-~-> 00:24:25,710
2219 look at that move from that level down
2220
2221 556
2222 00:24:25,710 ~-~-> 00:24:29,370
2223 to this level, that's 292 pips. That's
2224
2225 557
2226 00:24:29,370 ~-~-> 00:24:31,440
2227 pretty respectable. Now again, these are
2228
2229 558
2230 00:24:31,440 ~-~-> 00:24:33,330
2231 all daily candles, so it's less than a
2232
2233 559
2234 00:24:33,330 ~-~-> 00:24:36,960
2235 month. So if you break that down, it's
2236
2237 560
2238 00:24:36,960 ~-~-> 00:24:40,500
2239 pretty. It's a pretty good month. I know
2240
2241 561
2242 00:24:40,500 ~-~-> 00:24:41,430
2243 you're probably scratching Hey, wait a
2244
2245 562
2246 00:24:41,430 ~-~-> 00:24:43,530
2247 minute, I'm not making 500 pips a week.
2248
2249 563
2250 00:24:43,650 ~-~-> 00:24:46,620
2251 No, I don't shoot for those types of
2252
2253 564
2254 00:24:46,620 ~-~-> 00:24:48,870
2255 levels in terms of tips, because there's
2256
2257 565
2258 00:24:48,870 ~-~-> 00:24:50,190
2259 no guarantee you're gonna get that high.
2260
2261 566
2262 00:24:50,490 ~-~-> 00:24:54,510
2263 Two. It puts an own realistic level of
2264
2265 567
2266 00:24:54,510 ~-~-> 00:24:58,560
2267 expectation as a trader should not be
2268
2269 568
2270 00:24:58,560 ~-~-> 00:25:00,270
2271 doing as they're developing. Even A
2272
2273 569
2274 00:25:00,270 ~-~-> 00:25:03,150
2275 seasoned pro. I'm not gonna, you know,
2276
2277 570
2278 00:25:03,390 ~-~-> 00:25:05,670
2279 well, yeah, I guess I will I am, I could
2280
2281 571
2282 00:25:05,670 ~-~-> 00:25:07,740
2283 guess I would be able to be classified
2284
2285 572
2286 00:25:07,740 ~-~-> 00:25:09,450
2287 as a seasoned pro me almost two decades
2288
2289 573
2290 00:25:09,450 ~-~-> 00:25:12,360
2291 of doing it. Not specifically for expert
2292
2293 574
2294 00:25:12,360 ~-~-> 00:25:16,620
2295 trading, I think I would fall in the
2296
2297 575
2298 00:25:16,620 ~-~-> 00:25:19,800
2299 category as a seasoned pro. And I don't
2300
2301 576
2302 00:25:20,070 ~-~-> 00:25:22,110
2303 have these high level expectations that
2304
2305 577
2306 00:25:22,290 ~-~-> 00:25:26,160
2307 new traders are expecting and I, I
2308
2309 578
2310 00:25:26,160 ~-~-> 00:25:28,320
2311 consider myself pretty avid in terms of
2312
2313 579
2314 00:25:29,940 ~-~-> 00:25:31,860
2315 price action, understanding, and
2316
2317 580
2318 00:25:32,550 ~-~-> 00:25:35,250
2319 I have a good feel what price is trying
2320
2321 581
2322 00:25:35,250 ~-~-> 00:25:38,310
2323 to do on any market any timeframe. But
2324
2325 582
2326 00:25:38,310 ~-~-> 00:25:39,300
2327 it doesn't mean I'm in there every
2328
2329 583
2330 00:25:39,300 ~-~-> 00:25:41,880
2331 single day, 15 times a day, because the
2332
2333 584
2334 00:25:41,880 ~-~-> 00:25:43,530
2335 common question is okay, once you
2336
2337 585
2338 00:25:43,530 ~-~-> 00:25:45,090
2339 understand that you understand more and
2340
2341 586
2342 00:25:45,090 ~-~-> 00:25:46,980
2343 more and more of it, then you can start
2344
2345 587
2346 00:25:46,980 ~-~-> 00:25:49,080
2347 trading more in terms of levers, you can
2348
2349 588
2350 00:25:49,170 ~-~-> 00:25:50,490
2351 take more trades and therefore you're
2352
2353 589
2354 00:25:50,490 ~-~-> 00:25:52,140
2355 going to be super rich and you can be
2356
2357 590
2358 00:25:52,140 ~-~-> 00:25:55,500
2359 the next George Soros. And that's not
2360
2361 591
2362 00:25:55,500 ~-~-> 00:25:57,570
2363 what happens. Okay? Because what happens
2364
2365 592
2366 00:25:57,570 ~-~-> 00:25:59,970
2367 is you eventually grow comfortable with
2368
2369 593
2370 00:26:00,000 ~-~-> 00:26:01,290
2371 The fact that you don't have to be in
2372
2373 594
2374 00:26:01,290 ~-~-> 00:26:02,970
2375 front of charts all the time, life is
2376
2377 595
2378 00:26:02,970 ~-~-> 00:26:05,100
2379 out there. And I like being a part of
2380
2381 596
2382 00:26:05,100 ~-~-> 00:26:08,130
2383 it. So don't think because you're
2384
2385 597
2386 00:26:08,130 ~-~-> 00:26:09,480
2387 learning all these concepts that you
2388
2389 598
2390 00:26:09,480 ~-~-> 00:26:11,280
2391 should be spending even more time
2392
2393 599
2394 00:26:11,280 ~-~-> 00:26:14,370
2395 trading. In fact, I'm hopefully gonna
2396
2397 600
2398 00:26:14,400 ~-~-> 00:26:16,620
2399 take your hand away from the keyboard
2400
2401 601
2402 00:26:16,800 ~-~-> 00:26:18,600
2403 and the mouse, so you don't trade all
2404
2405 602
2406 00:26:18,600 ~-~-> 00:26:19,530
2407 the time, and you're just gonna be
2408
2409 603
2410 00:26:19,530 ~-~-> 00:26:21,870
2411 looking for these really cheery setups.
2412
2413 604
2414 00:26:22,350 ~-~-> 00:26:23,640
2415 And that will allow you to go to the
2416
2417 605
2418 00:26:23,640 ~-~-> 00:26:25,770
2419 market and pull out when it's highly
2420
2421 606
2422 00:26:26,400 ~-~-> 00:26:28,830
2423 stacked in your favor versus what
2424
2425 607
2426 00:26:28,860 ~-~-> 00:26:31,500
2427 majority of you guys do. As new traders,
2428
2429 608
2430 00:26:31,500 ~-~-> 00:26:32,850
2431 you turn the chart on simply because you
2432
2433 609
2434 00:26:32,850 ~-~-> 00:26:34,650
2435 sat down after work, it's time to make
2436
2437 610
2438 00:26:34,650 ~-~-> 00:26:34,980
2439 money.
2440
2441 611
2442 00:26:35,460 ~-~-> 00:26:36,840
2443 It doesn't work like that, guys.
2444
2445 612
2446 00:26:37,079 ~-~-> 00:26:39,959
2447 Okay, so, again, this level here,
2448
2449 613
2450 00:26:40,469 ~-~-> 00:26:42,509
2451 something we could arrive at, simply
2452
2453 614
2454 00:26:42,509 ~-~-> 00:26:44,939
2455 based on old highs and low lows, and
2456
2457 615
2458 00:26:44,939 ~-~-> 00:26:47,369
2459 again, using the daily timeframe, okay.
2460
2461 616
2462 00:26:47,879 ~-~-> 00:26:49,079
2463 And there's a whole lot of other things
2464
2465 617
2466 00:26:49,079 ~-~-> 00:26:50,369
2467 that we're going to talk about not in
2468
2469 618
2470 00:26:50,369 ~-~-> 00:26:52,019
2471 this module, but when we get down to
2472
2473 619
2474 00:26:52,019 ~-~-> 00:26:54,479
2475 actually understanding how it is that we
2476
2477 620
2478 00:26:54,479 ~-~-> 00:26:57,209
2479 take trades and entries and such. We're
2480
2481 621
2482 00:26:57,209 ~-~-> 00:26:58,649
2483 going to get in here and start breaking
2484
2485 622
2486 00:26:58,649 ~-~-> 00:27:01,319
2487 down these little points of which you
2488
2489 623
2490 00:27:01,319 ~-~-> 00:27:05,549
2491 can use to fine tune a specific entry
2492
2493 624
2494 00:27:05,549 ~-~-> 00:27:08,519
2495 point and reasonable expectations and
2496
2497 625
2498 00:27:08,549 ~-~-> 00:27:10,529
2499 why where and why price is going to
2500
2501 626
2502 00:27:10,919 ~-~-> 00:27:13,859
2503 bounce and move extrapolated. Price
2504
2505 627
2506 00:27:13,859 ~-~-> 00:27:17,249
2507 surges and drops in like this here.
2508
2509 628
2510 00:27:17,549 ~-~-> 00:27:19,439
2511 Okay, we just covered this one here. Now
2512
2513 629
2514 00:27:19,469 ~-~-> 00:27:20,429
2515 we're not going to beat it to death
2516
2517 630
2518 00:27:20,429 ~-~-> 00:27:21,479
2519 because we are going to be breaking down
2520
2521 631
2522 00:27:21,479 ~-~-> 00:27:25,319
2523 this little section of price action. But
2524
2525 632
2526 00:27:25,349 ~-~-> 00:27:27,659
2527 moving ahead, you can see price does
2528
2529 633
2530 00:27:27,659 ~-~-> 00:27:30,419
2531 have a very, very aggressive move
2532
2533 634
2534 00:27:30,719 ~-~-> 00:27:32,999
2535 higher. And then we start to consolidate
2536
2537 635
2538 00:27:32,999 ~-~-> 00:27:35,639
2539 look at the wicks. Okay, see the wicks,
2540
2541 636
2542 00:27:36,089 ~-~-> 00:27:38,339
2543 they're all stabbing through that 3060
2544
2545 637
2546 00:27:38,339 ~-~-> 00:27:39,989
2547 level but the bodies are having a hard
2548
2549 638
2550 00:27:39,989 ~-~-> 00:27:42,509
2551 time making any measurable move lower,
2552
2553 639
2554 00:27:42,509 ~-~-> 00:27:43,139
2555 you see that
2556
2557 640
2558 00:27:44,250 ~-~-> 00:27:45,330
2559 and watch what happens.
2560
2561 641
2562 00:27:50,130 ~-~-> 00:27:54,210
2563 The same level now. Okay, becomes an
2564
2565 642
2566 00:27:54,210 ~-~-> 00:27:56,760
2567 inversion level where it was support
2568
2569 643
2570 00:27:56,760 ~-~-> 00:28:01,320
2571 here. Invert. Now. It's changed it Roll
2572
2573 644
2574 00:28:01,740 ~-~-> 00:28:04,620
2575 and now acts as resistance. And as price
2576
2577 645
2578 00:28:04,620 ~-~-> 00:28:07,140
2579 comes right through it again here. Now
2580
2581 646
2582 00:28:07,140 ~-~-> 00:28:09,210
2583 one northern side of it again. So now it
2584
2585 647
2586 00:28:09,210 ~-~-> 00:28:12,690
2587 resumes its roll of what support. Okay,
2588
2589 648
2590 00:28:12,900 ~-~-> 00:28:15,030
2591 so this tells you that the institutions
2592
2593 649
2594 00:28:15,570 ~-~-> 00:28:18,180
2595 are doing some pretty significant
2596
2597 650
2598 00:28:18,180 ~-~-> 00:28:19,920
2599 dealings around this level here.
2600
2601 651
2602 00:28:20,459 ~-~-> 00:28:20,819
2603 Okay,
2604
2605 652
2606 00:28:21,119 ~-~-> 00:28:24,209
2607 so as price moves away from here, and if
2608
2609 653
2610 00:28:24,209 ~-~-> 00:28:25,799
2611 you see any kind of type of retracement
2612
2613 654
2614 00:28:25,799 ~-~-> 00:28:27,959
2615 here, this is when you can start to hunt
2616
2617 655
2618 00:28:28,169 ~-~-> 00:28:30,209
2619 a buy opportunity because now we can
2620
2621 656
2622 00:28:30,209 ~-~-> 00:28:33,419
2623 trust with a certain measure of
2624
2625 657
2626 00:28:33,419 ~-~-> 00:28:35,429
2627 expectation that this has now gone to
2628
2629 658
2630 00:28:35,819 ~-~-> 00:28:39,509
2631 potentially hold price above that 130 60
2632
2633 659
2634 00:28:39,509 ~-~-> 00:28:47,039
2635 level. The price rally up here, this
2636
2637 660
2638 00:28:47,039 ~-~-> 00:28:49,829
2639 level here becomes sensitive because
2640
2641 661
2642 00:28:50,219 ~-~-> 00:28:53,159
2643 this old low here, which is these old
2644
2645 662
2646 00:28:53,159 ~-~-> 00:28:55,799
2647 highs here, okay, so again, we're
2648
2649 663
2650 00:28:55,799 ~-~-> 00:28:58,799
2651 looking and studying not just okay, well
2652
2653 664
2654 00:28:58,799 ~-~-> 00:29:00,629
2655 I'm gonna grab this high and this low If
2656
2657 665
2658 00:29:00,629 ~-~-> 00:29:02,609
2659 you just look at these highs and lows,
2660
2661 666
2662 00:29:02,789 ~-~-> 00:29:04,919
2663 it's this low and this high, until price
2664
2665 667
2666 00:29:04,919 ~-~-> 00:29:06,779
2667 gets these levels all long time you're
2668
2669 668
2670 00:29:06,779 ~-~-> 00:29:08,999
2671 waiting for, you're gonna, you're gonna
2672
2673 669
2674 00:29:08,999 ~-~-> 00:29:09,989
2675 be doing a whole lot of trading. So what
2676
2677 670
2678 00:29:09,989 ~-~-> 00:29:11,249
2679 are you gonna do, you're going to chase
2680
2681 671
2682 00:29:11,249 ~-~-> 00:29:13,049
2683 systems, you're going to chase something
2684
2685 672
2686 00:29:13,049 ~-~-> 00:29:16,829
2687 that you know, is more active. Okay? And
2688
2689 673
2690 00:29:17,789 ~-~-> 00:29:19,559
2691 that's problematic for a new trader
2692
2693 674
2694 00:29:19,559 ~-~-> 00:29:21,209
2695 because it's not about how many trades
2696
2697 675
2698 00:29:21,209 ~-~-> 00:29:24,419
2699 you take, it's the quality of the trades
2700
2701 676
2702 00:29:24,509 ~-~-> 00:29:27,989
2703 that you take. Okay, so now, when price
2704
2705 677
2706 00:29:27,989 ~-~-> 00:29:30,239
2707 moves away from this level here, we can
2708
2709 678
2710 00:29:30,239 ~-~-> 00:29:32,939
2711 start looking for other specific price
2712
2713 679
2714 00:29:32,939 ~-~-> 00:29:36,059
2715 points that will aid us in support
2716
2717 680
2718 00:29:36,059 ~-~-> 00:29:36,719
2719 resistance.
2720
2721 681
2722 00:29:37,709 ~-~-> 00:29:39,509
2723 Now, these old highs here,
2724
2725 682
2726 00:29:40,439 ~-~-> 00:29:41,999
2727 price trades right up into them again,
2728
2729 683
2730 00:29:42,509 ~-~-> 00:29:45,929
2731 okay, and then trades off. Now. Again,
2732
2733 684
2734 00:29:45,929 ~-~-> 00:29:48,569
2735 it's not about capturing every single
2736
2737 685
2738 00:29:49,169 ~-~-> 00:29:51,299
2739 major high and low, you just want
2740
2741 686
2742 00:29:51,299 ~-~-> 00:29:53,639
2743 trading opportunities. Just in this
2744
2745 687
2746 00:29:53,669 ~-~-> 00:29:57,329
2747 price swing, here's 191 pips, just this
2748
2749 688
2750 00:29:57,389 ~-~-> 00:29:58,859
2751 hundred 91 pips and we're talking about
2752
2753 689
2754 00:29:58,859 ~-~-> 00:30:00,989
2755 a week's worth of trading. And then
2756
2757 690
2758 00:30:00,989 ~-~-> 00:30:04,139
2759 price does what it snaps off again what
2760
2761 691
2762 00:30:04,139 ~-~-> 00:30:05,519
2763 did this rally take
2764
2765 692
2766 00:30:07,290 ~-~-> 00:30:08,160
2767 action off of
2768
2769 693
2770 00:30:09,510 ~-~-> 00:30:10,620
2771 see this high here
2772
2773 694
2774 00:30:12,660 ~-~-> 00:30:15,600
2775 see this swing low in here
2776
2777 695
2778 00:30:17,400 ~-~-> 00:30:21,570
2779 you have a lot of body candles and then
2780
2781 696
2782 00:30:21,570 ~-~-> 00:30:26,400
2783 boom here you see price rally up price
2784
2785 697
2786 00:30:26,400 ~-~-> 00:30:31,320
2787 punches through this high in this high
2788
2789 698
2790 00:30:33,000 ~-~-> 00:30:36,600
2791 and gives us a reaction here and then
2792
2793 699
2794 00:30:36,600 ~-~-> 00:30:40,050
2795 trades back into this candle as well.
2796
2797 700
2798 00:30:41,610 ~-~-> 00:30:43,290
2799 We're going to be looking at two
2800
2801 701
2802 00:30:43,470 ~-~-> 00:30:47,190
2803 sections of this market and we're gonna
2804
2805 702
2806 00:30:47,190 ~-~-> 00:30:50,400
2807 be looking at this move here and we're
2808
2809 703
2810 00:30:50,400 ~-~-> 00:30:52,500
2811 gonna be looking at this move down here
2812
2813 704
2814 00:30:52,500 ~-~-> 00:30:55,110
2815 so we're gonna be looking at trending
2816
2817 705
2818 00:30:55,110 ~-~-> 00:30:56,790
2819 environment which is what this is here
2820
2821 706
2822 00:30:57,420 ~-~-> 00:31:00,570
2823 and potential reversal area. We're gonna
2824
2825 707
2826 00:31:00,570 ~-~-> 00:31:01,710
2827 be looking at
2828
2829 708
2830 00:31:02,130 ~-~-> 00:31:04,260
2831 this specific
2832
2833 709
2834 00:31:05,579 ~-~-> 00:31:08,579
2835 price sample here. And it's a little bit
2836
2837 710
2838 00:31:08,819 ~-~-> 00:31:11,339
2839 different characteristic of this. That
2840
2841 711
2842 00:31:11,339 ~-~-> 00:31:15,809
2843 will not be so notable here. Okay, but
2844
2845 712
2846 00:31:15,809 ~-~-> 00:31:18,569
2847 we'll talk about it in in greater detail
2848
2849 713
2850 00:31:18,929 ~-~-> 00:31:20,849
2851 in other episodes but let's For now,
2852
2853 714
2854 00:31:21,329 ~-~-> 00:31:22,889
2855 let's take a look at this section and
2856
2857 715
2858 00:31:22,889 ~-~-> 00:31:30,269
2859 price action first. Okay, we are in that
2860
2861 716
2862 00:31:31,169 ~-~-> 00:31:33,059
2863 small little section of
2864
2865 717
2866 00:31:34,500 ~-~-> 00:31:36,450
2867 price. And what I'm going to do is I'm
2868
2869 718
2870 00:31:36,450 ~-~-> 00:31:36,900
2871 just gonna
2872
2873 719
2874 00:31:38,310 ~-~-> 00:31:38,970
2875 pull up
2876
2877 720
2878 00:31:44,430 ~-~-> 00:31:46,140
2879 this area here, as you can see
2880
2881 721
2882 00:31:48,180 ~-~-> 00:31:51,210
2883 now, the first episode I talked about,
2884
2885 722
2886 00:31:51,390 ~-~-> 00:31:56,610
2887 looking at the first of July, took about
2888
2889 723
2890 00:31:56,610 ~-~-> 00:31:59,880
2891 the ninth of July, okay and I wanted you
2892
2893 724
2894 00:31:59,880 ~-~-> 00:32:03,150
2895 to study what price was doing and all
2896
2897 725
2898 00:32:03,150 ~-~-> 00:32:06,450
2899 this sample size of data. Now again, we
2900
2901 726
2902 00:32:06,450 ~-~-> 00:32:09,240
2903 were talking about that section, this is
2904
2905 727
2906 00:32:09,240 ~-~-> 00:32:11,040
2907 where price was moving down, trading
2908
2909 728
2910 00:32:11,040 ~-~-> 00:32:13,140
2911 Lower, lower, lower aggressively, again
2912
2913 729
2914 00:32:13,140 ~-~-> 00:32:16,620
2915 off that 130 60 level that we noted. And
2916
2917 730
2918 00:32:16,620 ~-~-> 00:32:18,780
2919 again, I'm going to add that level back
2920
2921 731
2922 00:32:18,780 ~-~-> 00:32:21,480
2923 here so you can see it. Okay, and this
2924
2925 732
2926 00:32:21,480 ~-~-> 00:32:24,060
2927 is that daily move where it trades right
2928
2929 733
2930 00:32:24,060 ~-~-> 00:32:27,060
2931 up into it, and then had a bearish move
2932
2933 734
2934 00:32:27,060 ~-~-> 00:32:29,460
2935 lower. Okay, and then we started to move
2936
2937 735
2938 00:32:29,460 ~-~-> 00:32:33,450
2939 lower, and lower and lower. Because we
2940
2941 736
2942 00:32:33,450 ~-~-> 00:32:36,270
2943 study the higher timeframe, we can
2944
2945 737
2946 00:32:36,270 ~-~-> 00:32:39,960
2947 discern where the institutions and large
2948
2949 738
2950 00:32:39,960 ~-~-> 00:32:46,500
2951 traders are more apt to muscle, if you
2952
2953 739
2954 00:32:46,500 ~-~-> 00:32:49,470
2955 will, the price of a particular market
2956
2957 740
2958 00:32:49,470 ~-~-> 00:32:51,270
2959 one direction or the other. You as a
2960
2961 741
2962 00:32:51,270 ~-~-> 00:32:53,520
2963 retail trader me as a retail trader. I
2964
2965 742
2966 00:32:53,520 ~-~-> 00:32:56,460
2967 can't move the market, I have to rely on
2968
2969 743
2970 00:32:56,460 ~-~-> 00:32:59,790
2971 the entities that are large enough.
2972
2973 744
2974 00:33:00,240 ~-~-> 00:33:03,780
2975 Their orders and their buying and
2976
2977 745
2978 00:33:03,780 ~-~-> 00:33:09,240
2979 selling pull price out of the current
2980
2981 746
2982 00:33:09,600 ~-~-> 00:33:11,670
2983 status that it's at right now. For
2984
2985 747
2986 00:33:11,670 ~-~-> 00:33:13,650
2987 instance, when price was trading around
2988
2989 748
2990 00:33:13,650 ~-~-> 00:33:16,170
2991 that 130 60 level on here.
2992
2993 749
2994 00:33:18,359 ~-~-> 00:33:19,919
2995 Let me fix this level here.
2996
2997 750
2998 00:33:24,990 ~-~-> 00:33:26,190
2999 When it's trading here,
3000
3001 751
3002 00:33:27,540 ~-~-> 00:33:29,820
3003 large institutions come in and he put
3004
3005 752
3006 00:33:29,910 ~-~-> 00:33:33,210
3007 big orders through, okay? But they don't
3008
3009 753
3010 00:33:33,210 ~-~-> 00:33:35,970
3011 put all their orders in at one time.
3012
3013 754
3014 00:33:36,000 ~-~-> 00:33:38,460
3015 They have to work that order in because
3016
3017 755
3018 00:33:38,460 ~-~-> 00:33:39,630
3019 they're not like you and I were we're
3020
3021 756
3022 00:33:39,630 ~-~-> 00:33:44,430
3023 hoping to trade you know 100,000 of
3024
3025 757
3026 00:33:44,430 ~-~-> 00:33:46,200
3027 Euro, okay, they're not worrying about
3028
3029 758
3030 00:33:46,200 ~-~-> 00:33:48,600
3031 making $10 a pip, you they're moving
3032
3033 759
3034 00:33:48,600 ~-~-> 00:33:52,950
3035 massive blocks of price orders that
3036
3037 760
3038 00:33:53,100 ~-~-> 00:33:56,640
3039 hopefully can be filled before price
3040
3041 761
3042 00:33:56,640 ~-~-> 00:33:59,340
3043 starts to move away. So as price moves
3044
3045 762
3046 00:33:59,340 ~-~-> 00:34:01,770
3047 into these levels, They're putting small
3048
3049 763
3050 00:34:01,770 ~-~-> 00:34:03,600
3051 pieces in at a time.
3052
3053 764
3054 00:34:03,960 ~-~-> 00:34:05,850
3055 Okay, why did they do that?
3056
3057 765
3058 00:34:06,510 ~-~-> 00:34:07,980
3059 What is it specifically that they're
3060
3061 766
3062 00:34:08,100 ~-~-> 00:34:11,610
3063 trying to avoid? Much like anybody else,
3064
3065 767
3066 00:34:11,610 ~-~-> 00:34:13,650
3067 they want to get a good price. But
3068
3069 768
3070 00:34:13,650 ~-~-> 00:34:16,500
3071 because they're smart money and they're
3072
3073 769
3074 00:34:16,500 ~-~-> 00:34:21,000
3075 on a institutional level, they are huge.
3076
3077 770
3078 00:34:21,060 ~-~-> 00:34:25,950
3079 Okay? For instance, let's take a step
3080
3081 771
3082 00:34:25,950 ~-~-> 00:34:28,500
3083 back conceptually looking at the market.
3084
3085 772
3086 00:34:28,650 ~-~-> 00:34:32,760
3087 Okay, the Forex market you'll end up as
3088
3089 773
3090 00:34:32,760 ~-~-> 00:34:35,160
3091 a new trader, okay? We have a very
3092
3093 774
3094 00:34:35,160 ~-~-> 00:34:38,190
3095 childlike perspective of this is like a
3096
3097 775
3098 00:34:38,190 ~-~-> 00:34:41,220
3099 video game. Or this is this is an
3100
3101 776
3102 00:34:41,220 ~-~-> 00:34:43,140
3103 adventure. Okay, or this is going to be
3104
3105 777
3106 00:34:43,140 ~-~-> 00:34:45,360
3107 very fun. This is gonna be my new hobby.
3108
3109 778
3110 00:34:46,830 ~-~-> 00:34:48,690
3111 And we'll stick with the childlike
3112
3113 779
3114 00:34:48,690 ~-~-> 00:34:52,920
3115 theme. Okay, so this represents four
3116
3117 780
3118 00:34:52,920 ~-~-> 00:34:58,410
3119 acts. Looks inviting, doesn't just want
3120
3121 781
3122 00:34:58,410 ~-~-> 00:35:01,530
3123 to jump in there and have a split But
3124
3125 782
3126 00:35:02,100 ~-~-> 00:35:04,230
3127 we're going to use this analogy this
3128
3129 783
3130 00:35:04,230 ~-~-> 00:35:06,660
3131 small little pole here that will
3132
3133 784
3134 00:35:06,660 ~-~-> 00:35:10,830
3135 represent the market. Okay? The arena is
3136
3137 785
3138 00:35:10,830 ~-~-> 00:35:13,680
3139 the pole, okay and price is the water
3140
3141 786
3142 00:35:14,700 ~-~-> 00:35:16,590
3143 we can get in that pole
3144
3145 787
3146 00:35:16,950 ~-~-> 00:35:18,750
3147 and we can make little splashes around
3148
3149 788
3150 00:35:19,170 ~-~-> 00:35:24,000
3151 okay as retail but that water will not
3152
3153 789
3154 00:35:24,000 ~-~-> 00:35:28,140
3155 be displaced by retail traders will make
3156
3157 790
3158 00:35:28,140 ~-~-> 00:35:30,330
3159 small little minor little blips, okay,
3160
3161 791
3162 00:35:30,330 ~-~-> 00:35:34,470
3163 like you see here, okay. But when smart
3164
3165 792
3166 00:35:34,470 ~-~-> 00:35:35,910
3167 money gets involved,
3168
3169 793
3170 00:35:36,330 ~-~-> 00:35:38,520
3171 okay? They're like that elephant
3172
3173 794
3174 00:35:39,090 ~-~-> 00:35:41,190
3175 in the room. You can't really hide him.
3176
3177 795
3178 00:35:41,220 ~-~-> 00:35:42,510
3179 He's standing right there in front of
3180
3181 796
3182 00:35:42,510 ~-~-> 00:35:45,150
3183 you. Okay, imagine if that same elephant
3184
3185 797
3186 00:35:45,150 ~-~-> 00:35:47,760
3187 now decides it wants to join the pool
3188
3189 798
3190 00:35:47,760 ~-~-> 00:35:48,210
3191 party.
3192
3193 799
3194 00:35:51,450 ~-~-> 00:35:52,380
3195 What are you going to have?
3196
3197 800
3198 00:35:52,410 ~-~-> 00:35:53,370
3199 You're going to have a large
3200
3201 801
3202 00:35:53,370 ~-~-> 00:35:56,790
3203 displacement of water. They cannot hide
3204
3205 802
3206 00:35:56,790 ~-~-> 00:35:59,730
3207 it. Okay. They are invariably going to
3208
3209 803
3210 00:35:59,730 ~-~-> 00:36:03,240
3211 be noticed if you understand their
3212
3213 804
3214 00:36:03,240 ~-~-> 00:36:07,020
3215 footprints, okay? as price trades up to
3216
3217 805
3218 00:36:07,020 ~-~-> 00:36:11,070
3219 this level at 130 60 level, it's trading
3220
3221 806
3222 00:36:11,070 ~-~-> 00:36:13,530
3223 off, it trades through it again, and
3224
3225 807
3226 00:36:13,530 ~-~-> 00:36:16,020
3227 then trades off. It trades through it
3228
3229 808
3230 00:36:16,020 ~-~-> 00:36:18,180
3231 again, and then trades off. See this is
3232
3233 809
3234 00:36:18,180 ~-~-> 00:36:21,570
3235 the first telltale sign that somebody on
3236
3237 810
3238 00:36:21,570 ~-~-> 00:36:23,790
3239 the big level, okay, we don't need to
3240
3241 811
3242 00:36:23,790 ~-~-> 00:36:25,980
3243 know who specifically but we just know
3244
3245 812
3246 00:36:25,980 ~-~-> 00:36:29,010
3247 that somebody want a larger perspective
3248
3249 813
3250 00:36:29,340 ~-~-> 00:36:30,930
3251 is now getting involved with this
3252
3253 814
3254 00:36:30,930 ~-~-> 00:36:33,480
3255 market. And what are they doing? They're
3256
3257 815
3258 00:36:33,480 ~-~-> 00:36:35,880
3259 shorting. Okay, they're becoming sellers
3260
3261 816
3262 00:36:36,240 ~-~-> 00:36:38,760
3263 at an add a level now that we discerned
3264
3265 817
3266 00:36:38,760 ~-~-> 00:36:41,580
3267 on a daily chart that this is probably
3268
3269 818
3270 00:36:41,580 ~-~-> 00:36:44,130
3271 going to be an area that's sensitive,
3272
3273 819
3274 00:36:44,610 ~-~-> 00:36:46,170
3275 and price comes up, stops right on the
3276
3277 820
3278 00:36:46,170 ~-~-> 00:36:48,120
3279 dime here and trades off a little bit.
3280
3281 821
3282 00:36:48,690 ~-~-> 00:36:50,970
3283 Now what's happening is is they'll put
3284
3285 822
3286 00:36:50,970 ~-~-> 00:36:53,280
3287 orders in they'll sell a little bit and
3288
3289 823
3290 00:36:53,280 ~-~-> 00:36:56,400
3291 sell a little bit and sell sell so So
3292
3293 824
3294 00:36:56,490 ~-~-> 00:36:58,560
3295 eventually, when they knew they can put
3296
3297 825
3298 00:36:58,560 ~-~-> 00:37:02,310
3299 their last bit of Their trade on, okay.
3300
3301 826
3302 00:37:03,780 ~-~-> 00:37:07,050
3303 They will just stack their orders all in
3304
3305 827
3306 00:37:07,050 ~-~-> 00:37:08,700
3307 this level. And it may be a little bit
3308
3309 828
3310 00:37:08,700 ~-~-> 00:37:10,590
3311 above it a little bit below it, but
3312
3313 829
3314 00:37:10,590 ~-~-> 00:37:12,210
3315 they're giant generally trying to get an
3316
3317 830
3318 00:37:12,210 ~-~-> 00:37:14,550
3319 average price around that 130 60 level.
3320
3321 831
3322 00:37:14,760 ~-~-> 00:37:17,850
3323 Okay? It may be that 130 50 level as
3324
3325 832
3326 00:37:17,850 ~-~-> 00:37:20,280
3327 well, because it's a it's a half full
3328
3329 833
3330 00:37:20,280 ~-~-> 00:37:22,830
3331 figure minifigure level. So that may be
3332
3333 834
3334 00:37:22,830 ~-~-> 00:37:24,060
3335 the price level they're actually working
3336
3337 835
3338 00:37:24,060 ~-~-> 00:37:27,030
3339 to, but as price moves above, okay, you
3340
3341 836
3342 00:37:27,030 ~-~-> 00:37:28,620
3343 can see how every time it does this
3344
3345 837
3346 00:37:28,620 ~-~-> 00:37:30,060
3347 around that level, this look at this
3348
3349 838
3350 00:37:30,090 ~-~-> 00:37:33,150
3351 whole price action in here, you can see
3352
3353 839
3354 00:37:33,150 ~-~-> 00:37:36,150
3355 that this is a failure to run above this
3356
3357 840
3358 00:37:36,150 ~-~-> 00:37:39,960
3359 old high. Okay. Now when we see price
3360
3361 841
3362 00:37:39,990 ~-~-> 00:37:42,660
3363 trade off, I guess it fills in all of
3364
3365 842
3366 00:37:42,660 ~-~-> 00:37:45,090
3367 that price decline like it does here.
3368
3369 843
3370 00:37:45,900 ~-~-> 00:37:48,720
3371 Okay, this is smart money trying to get
3372
3373 844
3374 00:37:48,720 ~-~-> 00:37:50,730
3375 that same price action, they put a large
3376
3377 845
3378 00:37:50,730 ~-~-> 00:37:54,870
3379 block on here. Now their liquidity is
3380
3381 846
3382 00:37:54,870 ~-~-> 00:37:57,570
3383 limited to whatever's there at the time.
3384
3385 847
3386 00:37:58,200 ~-~-> 00:38:01,080
3387 So if there isn't a large pool of buyers
3388
3389 848
3390 00:38:01,080 ~-~-> 00:38:05,400
3391 here, okay, there will be a issue for
3392
3393 849
3394 00:38:05,400 ~-~-> 00:38:06,840
3395 them to get the rest of their orders
3396
3397 850
3398 00:38:06,840 ~-~-> 00:38:08,970
3399 off. So what they'll do is they'll put
3400
3401 851
3402 00:38:08,970 ~-~-> 00:38:12,000
3403 small and again to us, it would be
3404
3405 852
3406 00:38:12,000 ~-~-> 00:38:15,090
3407 large, but to them it's small blocks to
3408
3409 853
3410 00:38:15,090 ~-~-> 00:38:17,580
3411 get their overall average price of the
3412
3413 854
3414 00:38:17,580 ~-~-> 00:38:18,840
3415 net short position that they want to be
3416
3417 855
3418 00:38:18,840 ~-~-> 00:38:22,320
3419 establishing. Once it's established,
3420
3421 856
3422 00:38:22,440 ~-~-> 00:38:27,450
3423 okay, price will do what? Drop because
3424
3425 857
3426 00:38:27,450 ~-~-> 00:38:29,340
3427 there will not be any more buyers for
3428
3429 858
3430 00:38:29,340 ~-~-> 00:38:31,530
3431 the other side of their trade. Okay,
3432
3433 859
3434 00:38:31,530 ~-~-> 00:38:32,850
3435 there's no more buyers. So what's going
3436
3437 860
3438 00:38:32,850 ~-~-> 00:38:34,560
3439 to happen is it's going to create a
3440
3441 861
3442 00:38:35,130 ~-~-> 00:38:37,620
3443 heaviness in the marketplace. So now the
3444
3445 862
3446 00:38:37,620 ~-~-> 00:38:42,180
3447 net selling will take larger of toll on
3448
3449 863
3450 00:38:42,210 ~-~-> 00:38:44,310
3451 price action. And as price starts to
3452
3453 864
3454 00:38:44,310 ~-~-> 00:38:47,160
3455 trade back down, these every little
3456
3457 865
3458 00:38:47,160 ~-~-> 00:38:50,280
3459 rally in here, okay, will be new selling
3460
3461 866
3462 00:38:50,280 ~-~-> 00:38:53,160
3463 opportunities. Now many times you'll see
3464
3465 867
3466 00:38:53,250 ~-~-> 00:38:55,740
3467 traders see these rallies here and
3468
3469 868
3470 00:38:55,740 ~-~-> 00:38:57,780
3471 they'll chase that. How many times have
3472
3473 869
3474 00:38:57,780 ~-~-> 00:38:59,970
3475 you done that? See this type thing here?
3476
3477 870
3478 00:39:00,000 ~-~-> 00:39:02,640
3479 As Nance rallying up, I better chase it.
3480
3481 871
3482 00:39:02,820 ~-~-> 00:39:04,320
3483 Let me buy this is probably gonna go
3484
3485 872
3486 00:39:04,320 ~-~-> 00:39:05,790
3487 through these levels here, it's gonna go
3488
3489 873
3490 00:39:05,790 ~-~-> 00:39:06,810
3491 through these levels, it's probably
3492
3493 874
3494 00:39:06,810 ~-~-> 00:39:08,460
3495 gonna keep on going and maybe we'll see
3496
3497 875
3498 00:39:08,460 ~-~-> 00:39:11,970
3499 131 50 or whatever else, the guy in the
3500
3501 876
3502 00:39:12,000 ~-~-> 00:39:13,800
3503 forums or on the internet was talking
3504
3505 877
3506 00:39:13,800 ~-~-> 00:39:14,820
3507 about how it's going to go there,
3508
3509 878
3510 00:39:15,030 ~-~-> 00:39:16,770
3511 because they're cool little indicator
3512
3513 879
3514 00:39:16,770 ~-~-> 00:39:19,080
3515 sets up. Has nothing to do with any of
3516
3517 880
3518 00:39:19,080 ~-~-> 00:39:23,430
3519 that. Okay? If you start looking at how
3520
3521 881
3522 00:39:23,430 ~-~-> 00:39:24,510
3523 prices Now,
3524
3525 882
3526 00:39:25,500 ~-~-> 00:39:28,110
3527 moving lower, okay,
3528
3529 883
3530 00:39:28,830 ~-~-> 00:39:31,020
3531 you can see they're rapidly
3532
3533 884
3534 00:39:31,260 ~-~-> 00:39:34,920
3535 moving price to a specific price point
3536
3537 885
3538 00:39:34,980 ~-~-> 00:39:39,120
3539 where, remember that 127 70 level
3540
3541 886
3542 00:39:41,040 ~-~-> 00:39:43,410
3543 on a daily chart that we looked at.
3544
3545 887
3546 00:39:45,030 ~-~-> 00:39:46,230
3547 Let's put that in right here.
3548
3549 888
3550 00:39:50,790 ~-~-> 00:39:52,440
3551 I'm sorry if I'm boring you guys,
3552
3553 889
3554 00:39:52,440 ~-~-> 00:39:56,730
3555 because, you know, this isn't sexy. And
3556
3557 890
3558 00:39:56,730 ~-~-> 00:39:58,440
3559 it wasn't sexy. The first time I learned
3560
3561 891
3562 00:39:58,440 ~-~-> 00:40:00,840
3563 all this stuff either in fact, ignored
3564
3565 892
3566 00:40:00,840 ~-~-> 00:40:04,530
3567 it. I said this is this is so boring. It
3568
3569 893
3570 00:40:04,530 ~-~-> 00:40:05,940
3571 has nothing to do with making money. I
3572
3573 894
3574 00:40:05,940 ~-~-> 00:40:08,340
3575 want to get in and get out. Okay? Had I
3576
3577 895
3578 00:40:08,340 ~-~-> 00:40:11,490
3579 understood what I understand now. Okay,
3580
3581 896
3582 00:40:11,490 ~-~-> 00:40:12,720
3583 and if you're struggling with this right
3584
3585 897
3586 00:40:12,720 ~-~-> 00:40:16,170
3587 now, if you're falling asleep, try to
3588
3589 898
3590 00:40:16,170 ~-~-> 00:40:19,680
3591 really get this point. If you can't
3592
3593 899
3594 00:40:19,710 ~-~-> 00:40:22,260
3595 grasp this concept here,
3596
3597 900
3598 00:40:24,540 ~-~-> 00:40:26,820
3599 wild success will evade you.
3600
3601 901
3602 00:40:28,170 ~-~-> 00:40:31,830
3603 Consistent levels of success will evade
3604
3605 902
3606 00:40:31,830 ~-~-> 00:40:34,920
3607 you. Sure, you might have moments of
3608
3609 903
3610 00:40:35,370 ~-~-> 00:40:37,440
3611 profitability where you have a string of
3612
3613 904
3614 00:40:37,440 ~-~-> 00:40:39,780
3615 winners, but anybody can do that. If you
3616
3617 905
3618 00:40:39,780 ~-~-> 00:40:42,390
3619 have a career of consistency, then
3620
3621 906
3622 00:40:42,390 ~-~-> 00:40:44,640
3623 you're now you're talking, okay? Because
3624
3625 907
3626 00:40:44,640 ~-~-> 00:40:46,140
3627 you're going to be doing what? You're
3628
3629 908
3630 00:40:46,140 ~-~-> 00:40:49,530
3631 not expecting to be smart. Okay. Does it
3632
3633 909
3634 00:40:49,530 ~-~-> 00:40:51,540
3635 take a certain level of understanding
3636
3637 910
3638 00:40:51,540 ~-~-> 00:40:53,190
3639 certainly, but you're not trying to be a
3640
3641 911
3642 00:40:53,190 ~-~-> 00:40:55,950
3643 genius. Okay, I'm not a marketing Maven.
3644
3645 912
3646 00:40:56,130 ~-~-> 00:40:58,590
3647 I'm not in here. You know, understanding
3648
3649 913
3650 00:40:58,590 ~-~-> 00:41:01,020
3651 every detail or Fundamental driving
3652
3653 914
3654 00:41:01,020 ~-~-> 00:41:02,880
3655 force behind all these moves. But I
3656
3657 915
3658 00:41:02,880 ~-~-> 00:41:05,670
3659 understand by looking at price action,
3660
3661 916
3662 00:41:06,030 ~-~-> 00:41:08,190
3663 what's the psychology behind it all? And
3664
3665 917
3666 00:41:08,190 ~-~-> 00:41:09,540
3667 that's what we're dealing with in this
3668
3669 918
3670 00:41:09,600 ~-~-> 00:41:12,270
3671 episode, because this is one of those
3672
3673 919
3674 00:41:12,270 ~-~-> 00:41:15,270
3675 Central Market tenants that just is
3676
3677 920
3678 00:41:15,270 ~-~-> 00:41:17,520
3679 glossed over in text, oh, well, you have
3680
3681 921
3682 00:41:17,520 ~-~-> 00:41:19,620
3683 to understand market structure, you have
3684
3685 922
3686 00:41:19,620 ~-~-> 00:41:22,860
3687 to understand market dynamics, internal
3688
3689 923
3690 00:41:22,860 ~-~-> 00:41:26,250
3691 pinnings of the market. Okay. And that
3692
3693 924
3694 00:41:26,250 ~-~-> 00:41:28,440
3695 was the actual lasting, the internal
3696
3697 925
3698 00:41:28,440 ~-~-> 00:41:29,610
3699 pinnings of the market. That was an
3700
3701 926
3702 00:41:29,610 ~-~-> 00:41:30,780
3703 expression I learned from Larry
3704
3705 927
3706 00:41:30,780 ~-~-> 00:41:34,290
3707 Williams. And the term mix, you know,
3708
3709 928
3710 00:41:35,100 ~-~-> 00:41:37,770
3711 intrigued me. But he didn't really go
3712
3713 929
3714 00:41:37,770 ~-~-> 00:41:39,630
3715 into great detail as to what the hell he
3716
3717 930
3718 00:41:39,630 ~-~-> 00:41:42,450
3719 was talking about, until you spend a lot
3720
3721 931
3722 00:41:42,450 ~-~-> 00:41:45,900
3723 more time and money in his work. And I'm
3724
3725 932
3726 00:41:45,900 ~-~-> 00:41:47,400
3727 not sure if it was planned because He is
3728
3729 933
3730 00:41:47,610 ~-~-> 00:41:51,240
3731 an educator by trade, but he is a
3732
3733 934
3734 00:41:51,240 ~-~-> 00:41:53,490
3735 successful trader as well. So, you know,
3736
3737 935
3738 00:41:53,610 ~-~-> 00:41:55,890
3739 one could argue is it really meant to be
3740
3741 936
3742 00:41:55,890 ~-~-> 00:41:57,930
3743 learned all at one time? Who knows? I
3744
3745 937
3746 00:41:57,930 ~-~-> 00:42:00,840
3747 don't know. But all I know is If you
3748
3749 938
3750 00:42:00,840 ~-~-> 00:42:03,750
3751 spend time understanding these ideas
3752
3753 939
3754 00:42:03,750 ~-~-> 00:42:06,720
3755 that we're expressing here, you will be
3756
3757 940
3758 00:42:06,750 ~-~-> 00:42:09,960
3759 far far greater in terms of a price
3760
3761 941
3762 00:42:09,960 ~-~-> 00:42:13,260
3763 action trader, then you learn in books
3764
3765 942
3766 00:42:13,290 ~-~-> 00:42:15,660
3767 or on your own, because you just don't
3768
3769 943
3770 00:42:15,660 ~-~-> 00:42:18,420
3771 learn this stuff. Okay? Just by turning
3772
3773 944
3774 00:42:18,420 ~-~-> 00:42:19,380
3775 on the computer and going to the
3776
3777 945
3778 00:42:19,380 ~-~-> 00:42:21,090
3779 internet, unless you're watching my
3780
3781 946
3782 00:42:21,090 ~-~-> 00:42:24,330
3783 channel, plug plug. So anyway, let's get
3784
3785 947
3786 00:42:24,330 ~-~-> 00:42:26,400
3787 back to what we're looking at
3788
3789 948
3790 00:42:26,400 ~-~-> 00:42:30,210
3791 specifically in here. Now, the first
3792
3793 949
3794 00:42:30,210 ~-~-> 00:42:32,160
3795 decline here and trades right back up
3796
3797 950
3798 00:42:32,160 ~-~-> 00:42:35,070
3799 into this level. Note that this price
3800
3801 951
3802 00:42:35,250 ~-~-> 00:42:39,450
3803 drop takes out a major, not major, but a
3804
3805 952
3806 00:42:39,450 ~-~-> 00:42:42,030
3807 significant swing here as we trade into
3808
3809 953
3810 00:42:42,030 ~-~-> 00:42:46,620
3811 that level. Now again, the main focal
3812
3813 954
3814 00:42:46,620 ~-~-> 00:42:49,650
3815 point is the higher timeframe key level,
3816
3817 955
3818 00:42:49,650 ~-~-> 00:42:53,490
3819 that 130 60 level. Okay? We don't go to
3820
3821 956
3822 00:42:53,490 ~-~-> 00:42:55,920
3823 the lower timeframes, hunting, a
3824
3825 957
3826 00:42:55,920 ~-~-> 00:42:59,880
3827 pattern, or a signal or a setup and then
3828
3829 958
3830 00:42:59,880 ~-~-> 00:43:01,620
3831 try To find the level that supports that
3832
3833 959
3834 00:43:01,620 ~-~-> 00:43:03,930
3835 notion, that's not how we're doing this,
3836
3837 960
3838 00:43:03,960 ~-~-> 00:43:06,000
3839 okay? You start on the higher timeframe
3840
3841 961
3842 00:43:06,000 ~-~-> 00:43:08,910
3843 chart, and you find key levels, okay?
3844
3845 962
3846 00:43:09,150 ~-~-> 00:43:11,130
3847 That are obvious, because if they're
3848
3849 963
3850 00:43:11,130 ~-~-> 00:43:13,290
3851 obvious, that means it takes all the
3852
3853 964
3854 00:43:13,290 ~-~-> 00:43:15,150
3855 guesswork out. Now it may take some
3856
3857 965
3858 00:43:15,540 ~-~-> 00:43:19,050
3859 patience on your part. That's really
3860
3861 966
3862 00:43:19,050 ~-~-> 00:43:22,710
3863 word p patient, the longing service is
3864
3865 967
3866 00:43:22,710 ~-~-> 00:43:24,030
3867 you're going to need to exercise a whole
3868
3869 968
3870 00:43:24,030 ~-~-> 00:43:27,090
3871 lot of patience because until price gets
3872
3873 969
3874 00:43:27,090 ~-~-> 00:43:28,860
3875 to these higher timeframe key levels,
3876
3877 970
3878 00:43:29,370 ~-~-> 00:43:31,080
3879 you aren't going to see institutional
3880
3881 971
3882 00:43:31,080 ~-~-> 00:43:34,140
3883 sponsorship behind the moves. Okay,
3884
3885 972
3886 00:43:34,350 ~-~-> 00:43:36,450
3887 unless you find a move like we're
3888
3889 973
3890 00:43:36,450 ~-~-> 00:43:40,020
3891 describing here, where we have a level
3892
3893 974
3894 00:43:40,170 ~-~-> 00:43:42,930
3895 noted in our timeframe, and another
3896
3897 975
3898 00:43:42,930 ~-~-> 00:43:45,570
3899 level based on that same time frame that
3900
3901 976
3902 00:43:45,570 ~-~-> 00:43:47,520
3903 is a higher level support level. So
3904
3905 977
3906 00:43:47,520 ~-~-> 00:43:50,070
3907 between these two levels here, we don't
3908
3909 978
3910 00:43:50,070 ~-~-> 00:43:52,890
3911 have a whole lot in terms of higher
3912
3913 979
3914 00:43:52,890 ~-~-> 00:43:55,200
3915 timeframe support long lines that you
3916
3917 980
3918 00:43:55,290 ~-~-> 00:43:57,900
3919 would really expect to see price turn
3920
3921 981
3922 00:43:57,900 ~-~-> 00:44:01,080
3923 around on a dime. Okay, now We do have
3924
3925 982
3926 00:44:01,590 ~-~-> 00:44:05,160
3927 intermediate term swing lows here. Okay.
3928
3929 983
3930 00:44:05,670 ~-~-> 00:44:08,190
3931 And we have short term swing lows here
3932
3933 984
3934 00:44:08,280 ~-~-> 00:44:10,620
3935 that cause pauses in the marketplace.
3936
3937 985
3938 00:44:10,890 ~-~-> 00:44:13,410
3939 Okay? But we're not focusing on the
3940
3941 986
3942 00:44:13,410 ~-~-> 00:44:15,690
3943 short term. We're trying to train our
3944
3945 987
3946 00:44:15,690 ~-~-> 00:44:17,310
3947 eyes to see the intermediate term price
3948
3949 988
3950 00:44:17,310 ~-~-> 00:44:20,940
3951 swings. Okay, so now let's take a closer
3952
3953 989
3954 00:44:20,940 ~-~-> 00:44:23,340
3955 look as to what's taking place in here.
3956
3957 990
3958 00:44:25,050 ~-~-> 00:44:28,440
3959 We're going to introduce the time of day
3960
3961 991
3962 00:44:30,750 ~-~-> 00:44:32,430
3963 and what we're going to do is we're just
3964
3965 992
3966 00:44:32,430 ~-~-> 00:44:34,620
3967 going to highlight with
3968
3969 993
3970 00:44:35,820 ~-~-> 00:44:38,430
3971 some arrows, okay? We're going to look
3972
3973 994
3974 00:44:38,460 ~-~-> 00:44:38,880
3975 at
3976
3977 995
3978 00:44:43,920 ~-~-> 00:44:47,190
3979 specific little areas where price
3980
3981 996
3982 00:44:49,590 ~-~-> 00:44:51,030
3983 made significant price.
3984
3985 997
3986 00:44:52,320 ~-~-> 00:44:53,310
3987 highs and lows.
3988
3989 998
3990 00:44:58,920 ~-~-> 00:45:02,880
3991 Okay, and What I'm doing is because on
3992
3993 999
3994 00:45:02,880 ~-~-> 00:45:05,550
3995 the higher timeframe, we had already
3996
3997 1000
3998 00:45:05,550 ~-~-> 00:45:09,990
3999 established a bearish tone to the market
4000
4001 1001
4002 00:45:10,170 ~-~-> 00:45:11,880
4003 where we were expecting this level to be
4004
4005 1002
4006 00:45:12,030 ~-~-> 00:45:14,010
4007 sensitive, and that we would expect to
4008
4009 1003
4010 00:45:14,010 ~-~-> 00:45:17,430
4011 see price moving lower. Okay? And where
4012
4013 1004
4014 00:45:17,430 ~-~-> 00:45:19,500
4015 would it be low moving lower towards
4016
4017 1005
4018 00:45:19,860 ~-~-> 00:45:21,660
4019 this level down here because it would be
4020
4021 1006
4022 00:45:21,660 ~-~-> 00:45:24,000
4023 the next higher level timeframe support
4024
4025 1007
4026 00:45:24,000 ~-~-> 00:45:27,120
4027 level. So we have a whole lot of range
4028
4029 1008
4030 00:45:27,450 ~-~-> 00:45:30,570
4031 to work between, okay, and this gets to
4032
4033 1009
4034 00:45:30,570 ~-~-> 00:45:34,440
4035 the central tenant of directional bias
4036
4037 1010
4038 00:45:34,440 ~-~-> 00:45:38,490
4039 because a lot of traders it just escapes
4040
4041 1011
4042 00:45:38,490 ~-~-> 00:45:40,740
4043 them, and it's simply because they're
4044
4045 1012
4046 00:45:40,740 ~-~-> 00:45:44,310
4047 expecting it to be. Again, real easy to
4048
4049 1013
4050 00:45:44,310 ~-~-> 00:45:46,740
4051 determine, because simply look at the
4052
4053 1014
4054 00:45:46,740 ~-~-> 00:45:48,510
4055 chart, well, you have to go and spend
4056
4057 1015
4058 00:45:48,510 ~-~-> 00:45:49,950
4059 some time on a higher timeframe because
4060
4061 1016
4062 00:45:49,950 ~-~-> 00:45:51,300
4063 that's where it's going to tell you. So
4064
4065 1017
4066 00:45:51,300 ~-~-> 00:45:53,670
4067 we have a range of 291 pips between the
4068
4069 1018
4070 00:45:53,670 ~-~-> 00:45:56,760
4071 high here and the low here these two
4072
4073 1019
4074 00:45:57,210 ~-~-> 00:45:59,940
4075 higher timeframe levels, so 290 pips
4076
4077 1020
4078 00:46:01,230 ~-~-> 00:46:02,880
4079 Now watch what happens. We're going to
4080
4081 1021
4082 00:46:02,880 ~-~-> 00:46:04,140
4083 be looking at
4084
4085 1022
4086 00:46:05,460 ~-~-> 00:46:07,110
4087 whoops, let me get the rest of my
4088
4089 1023
4090 00:46:09,750 ~-~-> 00:46:10,680
4091 highs in here.
4092
4093 1024
4094 00:46:12,990 ~-~-> 00:46:21,150
4095 And okay,
4096
4097 1025
4098 00:46:21,480 ~-~-> 00:46:26,610
4099 so we have highs represented here. Okay?
4100
4101 1026
4102 00:46:27,240 ~-~-> 00:46:30,390
4103 And we're gonna be looking for things
4104
4105 1027
4106 00:46:30,390 ~-~-> 00:46:37,080
4107 that are generically repeating. Okay, so
4108
4109 1028
4110 00:46:37,710 ~-~-> 00:46:41,760
4111 we're going to introduce also support
4112
4113 1029
4114 00:46:41,760 ~-~-> 00:46:44,190
4115 resistance. But before that we have to
4116
4117 1030
4118 00:46:44,190 ~-~-> 00:46:50,310
4119 break our chart down into time and data
4120
4121 1031
4122 00:46:50,310 ~-~-> 00:46:52,650
4123 week. Now the double lines represent
4124
4125 1032
4126 00:46:52,650 ~-~-> 00:46:55,380
4127 Sunday. So this vertical line to this
4128
4129 1033
4130 00:46:55,380 ~-~-> 00:46:57,240
4131 vertical line represents trading for
4132
4133 1034
4134 00:46:57,240 ~-~-> 00:46:59,910
4135 that week on a Monday from this vertical
4136
4137 1035
4138 00:46:59,910 ~-~-> 00:47:01,950
4139 line To this vertical line represents
4140
4141 1036
4142 00:47:01,950 ~-~-> 00:47:04,140
4143 Tuesday, this vertical line to this
4144
4145 1037
4146 00:47:04,140 ~-~-> 00:47:06,780
4147 vertical line is Wednesday, and this is
4148
4149 1038
4150 00:47:06,780 ~-~-> 00:47:08,790
4151 Thursday trading and then Friday then we
4152
4153 1039
4154 00:47:08,790 ~-~-> 00:47:10,140
4155 go into a new week on Sunday
4156
4157 1040
4158 00:47:12,660 ~-~-> 00:47:13,290
4159 on
4160
4161 1041
4162 00:47:14,040 ~-~-> 00:47:17,340
4163 your notepad write this very, very big,
4164
4165 1042
4166 00:47:17,520 ~-~-> 00:47:21,690
4167 okay and underline it in bearish market
4168
4169 1043
4170 00:47:21,690 ~-~-> 00:47:24,660
4171 environments. Okay, what I mean by
4172
4173 1044
4174 00:47:24,660 ~-~-> 00:47:26,760
4175 bearish market environments if the daily
4176
4177 1045
4178 00:47:26,760 ~-~-> 00:47:31,560
4179 chart is poised to move lower you have a
4180
4181 1046
4182 00:47:31,560 ~-~-> 00:47:34,860
4183 70% chance of seeing the high of The
4184
4185 1047
4186 00:47:34,860 ~-~-> 00:47:39,060
4187 Week form by Tuesday's London open.
4188
4189 1048
4190 00:47:40,680 ~-~-> 00:47:42,570
4191 Okay, so if you have a bearish
4192
4193 1049
4194 00:47:42,600 ~-~-> 00:47:46,200
4195 expectation in the marketplace expect
4196
4197 1050
4198 00:47:46,230 ~-~-> 00:47:48,300
4199 the high of the week to form by
4200
4201 1051
4202 00:47:48,330 ~-~-> 00:47:51,480
4203 Tuesday's long and open now sometimes
4204
4205 1052
4206 00:47:51,570 ~-~-> 00:47:54,960
4207 you may get that weird crazy move that
4208
4209 1053
4210 00:47:54,990 ~-~-> 00:47:57,120
4211 will take out Tuesday's high with
4212
4213 1054
4214 00:47:57,120 ~-~-> 00:47:59,520
4215 Wednesday and that may be because of a
4216
4217 1055
4218 00:48:00,000 ~-~-> 00:48:04,320
4219 major market moving indicator or report
4220
4221 1056
4222 00:48:04,320 ~-~-> 00:48:07,110
4223 that comes out. And that's going to be
4224
4225 1057
4226 00:48:07,110 ~-~-> 00:48:09,300
4227 that one wildcard event where, you know,
4228
4229 1058
4230 00:48:09,450 ~-~-> 00:48:11,220
4231 sure, you may have been in a profitable
4232
4233 1059
4234 00:48:11,220 ~-~-> 00:48:12,240
4235 trade. And if you didn't take any
4236
4237 1060
4238 00:48:12,240 ~-~-> 00:48:13,890
4239 profits as you went down, going into
4240
4241 1061
4242 00:48:13,890 ~-~-> 00:48:16,110
4243 Wednesday's trading, before it trades
4244
4245 1062
4246 00:48:16,110 ~-~-> 00:48:17,850
4247 and in runs your stop or runs out of
4248
4249 1063
4250 00:48:17,850 ~-~-> 00:48:20,340
4251 your position, you know, they're going
4252
4253 1064
4254 00:48:20,340 ~-~-> 00:48:23,130
4255 to happen, and I can't, I can't, I have
4256
4257 1065
4258 00:48:23,130 ~-~-> 00:48:24,840
4259 not been able to find a way to avoid
4260
4261 1066
4262 00:48:24,840 ~-~-> 00:48:27,090
4263 those types of things. Okay, but by far
4264
4265 1067
4266 00:48:27,090 ~-~-> 00:48:28,560
4267 and large, if you look at when markets
4268
4269 1068
4270 00:48:28,560 ~-~-> 00:48:30,660
4271 are trading softer, and moving lower,
4272
4273 1069
4274 00:48:30,750 ~-~-> 00:48:32,190
4275 based on the higher time frame, again,
4276
4277 1070
4278 00:48:32,190 ~-~-> 00:48:34,440
4279 we're specifically dealing with the
4280
4281 1071
4282 00:48:34,440 ~-~-> 00:48:37,170
4283 daily chart here, okay, but you can also
4284
4285 1072
4286 00:48:37,170 ~-~-> 00:48:39,480
4287 move down to the four hour, but really,
4288
4289 1073
4290 00:48:39,870 ~-~-> 00:48:43,170
4291 only if it's really not clear to you on
4292
4293 1074
4294 00:48:43,170 ~-~-> 00:48:45,360
4295 the daily. So again, the daily or the
4296
4297 1075
4298 00:48:45,360 ~-~-> 00:48:46,500
4299 four hour, that's where your higher
4300
4301 1076
4302 00:48:46,500 ~-~-> 00:48:49,200
4303 timeframe, key support resistance, and
4304
4305 1077
4306 00:48:49,410 ~-~-> 00:48:51,510
4307 bias is determined from because we're
4308
4309 1078
4310 00:48:51,510 ~-~-> 00:48:53,100
4311 looking at these higher level timeframe
4312
4313 1079
4314 00:48:53,220 ~-~-> 00:48:54,540
4315 support resistance levels that the
4316
4317 1080
4318 00:48:54,540 ~-~-> 00:48:56,310
4319 institutional traders are going to be
4320
4321 1081
4322 00:48:56,370 ~-~-> 00:49:01,680
4323 keying off of. Okay. So again, With the
4324
4325 1082
4326 00:49:01,710 ~-~-> 00:49:03,810
4327 notion that this markets moving lower
4328
4329 1083
4330 00:49:03,960 ~-~-> 00:49:05,400
4331 okay we would reasonably expect to see
4332
4333 1084
4334 00:49:05,400 ~-~-> 00:49:07,290
4335 the high the weak form on Tuesdays by
4336
4337 1085
4338 00:49:07,680 ~-~-> 00:49:11,190
4339 Tuesday's London open or Wednesday's
4340
4341 1086
4342 00:49:11,250 ~-~-> 00:49:13,320
4343 London open at the very latest okay?
4344
4345 1087
4346 00:49:15,270 ~-~-> 00:49:16,800
4347 doesn't mean you can't see the high the
4348
4349 1088
4350 00:49:16,800 ~-~-> 00:49:18,690
4351 weak form on Monday it just means that a
4352
4353 1089
4354 00:49:18,690 ~-~-> 00:49:20,670
4355 large percentage of the time you'll
4356
4357 1090
4358 00:49:20,670 ~-~-> 00:49:23,580
4359 start to see the high forming for that
4360
4361 1091
4362 00:49:23,580 ~-~-> 00:49:25,560
4363 particular week by Tuesday's London
4364
4365 1092
4366 00:49:25,560 ~-~-> 00:49:27,510
4367 open. Okay, and you can see that is the
4368
4369 1093
4370 00:49:27,510 ~-~-> 00:49:30,840
4371 event here. Okay, and I promise you if
4372
4373 1094
4374 00:49:30,840 ~-~-> 00:49:32,070
4375 it's the first time you heard this, it
4376
4377 1095
4378 00:49:32,070 ~-~-> 00:49:33,510
4379 sounds like a whole lot of hindsight
4380
4381 1096
4382 00:49:33,510 ~-~-> 00:49:35,940
4383 mobile hindsight mumbo jumbo it says to
4384
4385 1097
4386 00:49:35,940 ~-~-> 00:49:38,220
4387 perfectly cherry pick, go back over the
4388
4389 1098
4390 00:49:38,220 ~-~-> 00:49:39,840
4391 charts yourself, guys. Don't take my
4392
4393 1099
4394 00:49:39,840 ~-~-> 00:49:41,850
4395 word on it. Okay, study it. That's how
4396
4397 1100
4398 00:49:41,850 ~-~-> 00:49:43,980
4399 you get better at this. dig into it.
4400
4401 1101
4402 00:49:44,040 ~-~-> 00:49:45,870
4403 Okay, when bullish market structures
4404
4405 1102
4406 00:49:45,900 ~-~-> 00:49:47,730
4407 suggesting higher prices on daily chart,
4408
4409 1103
4410 00:49:48,030 ~-~-> 00:49:50,040
4411 look and see if the the low of the week
4412
4413 1104
4414 00:49:50,040 ~-~-> 00:49:52,260
4415 wasn't formed on Tuesday, okay, and the
4416
4417 1105
4418 00:49:52,260 ~-~-> 00:49:54,210
4419 times that it isn't, it's on Monday or
4420
4421 1106
4422 00:49:54,210 ~-~-> 00:49:56,130
4423 Wednesday. And what does that what does
4424
4425 1107
4426 00:49:56,130 ~-~-> 00:49:59,220
4427 that mean? It means a whole lot as we're
4428
4429 1108
4430 00:49:59,220 ~-~-> 00:50:02,820
4431 going to discuss here. We see the high
4432
4433 1109
4434 00:50:02,820 ~-~-> 00:50:05,640
4435 form for this week on Tuesday. Okay, and
4436
4437 1110
4438 00:50:05,640 ~-~-> 00:50:07,800
4439 as price trades up to that point, it's
4440
4441 1111
4442 00:50:07,800 ~-~-> 00:50:09,870
4443 coming off of this low here. Okay, so we
4444
4445 1112
4446 00:50:09,870 ~-~-> 00:50:14,460
4447 have this low as a reference point. And
4448
4449 1113
4450 00:50:14,460 ~-~-> 00:50:16,620
4451 it'd be nice if I kept that on the low
4452
4453 1114
4454 00:50:16,620 ~-~-> 00:50:19,260
4455 before it was drug away. Let's put that
4456
4457 1115
4458 00:50:19,260 ~-~-> 00:50:21,570
4459 back where it belongs. Okay? And what
4460
4461 1116
4462 00:50:21,570 ~-~-> 00:50:22,650
4463 we're going to do is we're going to draw
4464
4465 1117
4466 00:50:22,650 ~-~-> 00:50:24,900
4467 this all the way through the week.
4468
4469 1118
4470 00:50:27,510 ~-~-> 00:50:29,640
4471 Okay, because this level is sensitive,
4472
4473 1119
4474 00:50:29,670 ~-~-> 00:50:30,420
4475 because it's
4476
4477 1120
4478 00:50:32,580 ~-~-> 00:50:35,400
4479 a nice swing low, going into a key level
4480
4481 1121
4482 00:50:35,400 ~-~-> 00:50:37,350
4483 and trade it off. Even this little
4484
4485 1122
4486 00:50:37,350 ~-~-> 00:50:40,140
4487 bounce in here is tradable. But we are
4488
4489 1123
4490 00:50:40,140 ~-~-> 00:50:43,830
4491 focused on being what a seller because
4492
4493 1124
4494 00:50:43,890 ~-~-> 00:50:46,650
4495 of what the premise is that we have seen
4496
4497 1125
4498 00:50:46,650 ~-~-> 00:50:48,780
4499 price right up to this 130 60 level on a
4500
4501 1126
4502 00:50:48,780 ~-~-> 00:50:50,310
4503 daily chart as we discussed earlier in
4504
4505 1127
4506 00:50:50,310 ~-~-> 00:50:53,220
4507 this episode. As trade as price trades
4508
4509 1128
4510 00:50:53,220 ~-~-> 00:50:55,530
4511 down and starts to have these bounces.
4512
4513 1129
4514 00:50:55,530 ~-~-> 00:50:58,710
4515 We do not get all excited and frothing
4516
4517 1130
4518 00:50:58,710 ~-~-> 00:51:01,170
4519 at the mouth. Thank you Okay, now it's
4520
4521 1131
4522 00:51:01,170 ~-~-> 00:51:02,820
4523 going to trade higher and we want to be
4524
4525 1132
4526 00:51:02,850 ~-~-> 00:51:06,630
4527 higher. Okay? Think classic chart
4528
4529 1133
4530 00:51:06,630 ~-~-> 00:51:09,510
4531 patterns. Does this not look like a bull
4532
4533 1134
4534 00:51:09,510 ~-~-> 00:51:12,810
4535 flag? Okay, price rallies up
4536
4537 1135
4538 00:51:12,840 ~-~-> 00:51:14,550
4539 consolidates and it's even doing what
4540
4541 1136
4542 00:51:14,550 ~-~-> 00:51:16,890
4543 finding old support, see here, see the
4544
4545 1137
4546 00:51:16,890 ~-~-> 00:51:18,840
4547 support? See the support and what do
4548
4549 1138
4550 00:51:18,840 ~-~-> 00:51:20,730
4551 they teach us in a textbook? three
4552
4553 1139
4554 00:51:20,730 ~-~-> 00:51:22,560
4555 points of contact confirms the support
4556
4557 1140
4558 00:51:22,560 ~-~-> 00:51:25,320
4559 level, right? You don't think the
4560
4561 1141
4562 00:51:25,320 ~-~-> 00:51:27,420
4563 dealers know that stuff? They know what
4564
4565 1142
4566 00:51:27,420 ~-~-> 00:51:28,770
4567 you're going to do. They're going to
4568
4569 1143
4570 00:51:28,770 ~-~-> 00:51:31,740
4571 hold price here. Okay, and allow what
4572
4573 1144
4574 00:51:32,040 ~-~-> 00:51:34,470
4575 orders to stack up? What kind of orders
4576
4577 1145
4578 00:51:34,470 ~-~-> 00:51:37,560
4579 are going to stack up by orders? who's
4580
4581 1146
4582 00:51:37,560 ~-~-> 00:51:41,250
4583 buying retail, the lesson form traders.
4584
4585 1147
4586 00:51:41,760 ~-~-> 00:51:45,030
4587 Okay. Well, if they're buying it, who's
4588
4589 1148
4590 00:51:45,030 ~-~-> 00:51:46,680
4591 providing the other side of the trade?
4592
4593 1149
4594 00:51:48,030 ~-~-> 00:51:50,100
4595 The smart money. What?
4596
4597 1150
4598 00:51:50,430 ~-~-> 00:51:52,860
4599 Yep, the smart money. They're selling it
4600
4601 1151
4602 00:51:52,860 ~-~-> 00:51:56,820
4603 to them. Lock stock and barrel. Okay,
4604
4605 1152
4606 00:51:57,180 ~-~-> 00:51:59,190
4607 who's gonna win an arm wrestling match
4608
4609 1153
4610 00:51:59,520 ~-~-> 00:52:03,060
4611 the elephant For the child, the little
4612
4613 1154
4614 00:52:03,060 ~-~-> 00:52:05,370
4615 kid in the swimming pool, it's going to
4616
4617 1155
4618 00:52:05,370 ~-~-> 00:52:07,350
4619 be elephant. When elephant gets an
4620
4621 1156
4622 00:52:07,350 ~-~-> 00:52:11,370
4623 apple, boom, the kid is taken completely
4624
4625 1157
4626 00:52:11,370 ~-~-> 00:52:14,520
4627 out and the water is displaced. So what
4628
4629 1158
4630 00:52:14,520 ~-~-> 00:52:19,830
4631 do we see? displacement. Okay, price is
4632
4633 1159
4634 00:52:19,830 ~-~-> 00:52:23,070
4635 now taken driven lower, okay. Those that
4636
4637 1160
4638 00:52:23,070 ~-~-> 00:52:24,870
4639 would have been trading, what would be
4640
4641 1161
4642 00:52:24,870 ~-~-> 00:52:27,540
4643 whatever their idea of this is a climax
4644
4645 1162
4646 00:52:27,570 ~-~-> 00:52:29,850
4647 reversal or something along the lines
4648
4649 1163
4650 00:52:29,850 ~-~-> 00:52:32,550
4651 that would support a buying indication
4652
4653 1164
4654 00:52:32,550 ~-~-> 00:52:34,440
4655 in here. And again, we're not arguing or
4656
4657 1165
4658 00:52:34,440 ~-~-> 00:52:36,810
4659 making any case for that. But we're just
4660
4661 1166
4662 00:52:36,810 ~-~-> 00:52:38,280
4663 going to assume for a moment that
4664
4665 1167
4666 00:52:38,880 ~-~-> 00:52:40,710
4667 somebody out there in the retail world
4668
4669 1168
4670 00:52:42,030 ~-~-> 00:52:44,340
4671 assumed at that level was probably a
4672
4673 1169
4674 00:52:44,340 ~-~-> 00:52:48,090
4675 good area to buy. So if they bought
4676
4677 1170
4678 00:52:48,090 ~-~-> 00:52:49,350
4679 here, where would their stop loss be
4680
4681 1171
4682 00:52:49,620 ~-~-> 00:52:52,170
4683 right below that? Okay, so price is
4684
4685 1172
4686 00:52:52,170 ~-~-> 00:52:54,540
4687 driven, where to where the liquidity is
4688
4689 1173
4690 00:52:54,540 ~-~-> 00:52:58,290
4691 going to be here. Okay. So here we have
4692
4693 1174
4694 00:52:58,290 ~-~-> 00:53:00,300
4695 price trade down and trade rate. Back up
4696
4697 1175
4698 00:53:00,300 ~-~-> 00:53:05,010
4699 to what this level now becomes a another
4700
4701 1176
4702 00:53:05,010 ~-~-> 00:53:08,100
4703 selling opportunity who's going to sell
4704
4705 1177
4706 00:53:08,670 ~-~-> 00:53:10,830
4707 some more of the smart money. So they're
4708
4709 1178
4710 00:53:10,830 ~-~-> 00:53:11,880
4711 going to put some more of their orders
4712
4713 1179
4714 00:53:11,880 ~-~-> 00:53:16,080
4715 in, and then boom, it rises lower. Okay?
4716
4717 1180
4718 00:53:17,610 ~-~-> 00:53:20,910
4719 This short term swing low here, because
4720
4721 1181
4722 00:53:20,910 ~-~-> 00:53:22,800
4723 we're not drawing levels on it. Okay?
4724
4725 1182
4726 00:53:24,060 ~-~-> 00:53:25,920
4727 You can look at a lower five minute
4728
4729 1183
4730 00:53:25,920 ~-~-> 00:53:28,110
4731 chart and see even greater dynamic
4732
4733 1184
4734 00:53:28,110 ~-~-> 00:53:29,760
4735 support resistance levels, but I'm using
4736
4737 1185
4738 00:53:29,760 ~-~-> 00:53:31,530
4739 the 15 minute chart simply because
4740
4741 1186
4742 00:53:31,890 ~-~-> 00:53:33,270
4743 you'll learn later on that your trade
4744
4745 1187
4746 00:53:33,270 ~-~-> 00:53:34,980
4747 setups really going to form on this
4748
4749 1188
4750 00:53:34,980 ~-~-> 00:53:38,550
4751 timeframe. But we're gonna keep it
4752
4753 1189
4754 00:53:39,450 ~-~-> 00:53:41,550
4755 uniform and keep the continuity going.
4756
4757 1190
4758 00:53:43,020 ~-~-> 00:53:44,070
4759 And we're going to use
4760
4761 1191
4762 00:53:45,630 ~-~-> 00:53:47,310
4763 this slow here, price trades up to
4764
4765 1192
4766 00:53:47,310 ~-~-> 00:53:49,830
4767 there. And once we both blow through it,
4768
4769 1193
4770 00:53:50,010 ~-~-> 00:53:52,440
4771 we we trade through it again. Okay, but
4772
4773 1194
4774 00:53:52,440 ~-~-> 00:53:54,300
4775 we come right back up in this old swing
4776
4777 1195
4778 00:53:54,300 ~-~-> 00:53:56,370
4779 low here. So I could have another level
4780
4781 1196
4782 00:53:56,370 ~-~-> 00:53:57,990
4783 but to keep it clean on the charms and
4784
4785 1197
4786 00:53:57,990 ~-~-> 00:54:00,930
4787 keep it just like it have here. Don't
4788
4789 1198
4790 00:54:00,930 ~-~-> 00:54:03,900
4791 expect, you know, perfection in terms of
4792
4793 1199
4794 00:54:03,900 ~-~-> 00:54:05,040
4795 your support resistance levels,
4796
4797 1200
4798 00:54:05,070 ~-~-> 00:54:06,870
4799 sometimes they'll knock your socks off
4800
4801 1201
4802 00:54:06,870 ~-~-> 00:54:11,250
4803 and be so specifically you right to the
4804
4805 1202
4806 00:54:11,250 ~-~-> 00:54:14,340
4807 minute on on the PIP, but we're only
4808
4809 1203
4810 00:54:14,340 ~-~-> 00:54:16,200
4811 talking about here 14 pips in terms of
4812
4813 1204
4814 00:54:16,200 ~-~-> 00:54:19,020
4815 variance. So again, that's half less
4816
4817 1205
4818 00:54:19,020 ~-~-> 00:54:20,790
4819 than half of our normal stop losses.
4820
4821 1206
4822 00:54:21,150 ~-~-> 00:54:23,190
4823 Again. For those who don't know, I
4824
4825 1207
4826 00:54:23,190 ~-~-> 00:54:25,350
4827 usually trade around with a 30 PIP stop
4828
4829 1208
4830 00:54:25,350 ~-~-> 00:54:27,960
4831 loss. And again, we'll understand later
4832
4833 1209
4834 00:54:27,960 ~-~-> 00:54:31,440
4835 on why I use that later on again, not
4836
4837 1210
4838 00:54:31,440 ~-~-> 00:54:36,480
4839 now. So, we move into a new week. Okay,
4840
4841 1211
4842 00:54:36,570 ~-~-> 00:54:39,420
4843 price rallies up and this little pause
4844
4845 1212
4846 00:54:39,420 ~-~-> 00:54:41,940
4847 here and turn down happens where? Look
4848
4849 1213
4850 00:54:41,940 ~-~-> 00:54:43,380
4851 over here, see that?
4852
4853 1214
4854 00:54:45,150 ~-~-> 00:54:47,400
4855 Okay, so price trades down.
4856
4857 1215
4858 00:54:48,660 ~-~-> 00:54:50,880
4859 Okay, find some short term support,
4860
4861 1216
4862 00:54:50,880 ~-~-> 00:54:52,020
4863 which we're not going to look at because
4864
4865 1217
4866 00:54:52,020 ~-~-> 00:54:52,890
4867 it's going to be on the five minute
4868
4869 1218
4870 00:54:52,890 ~-~-> 00:54:54,000
4871 chart you can do that on your own
4872
4873 1219
4874 00:54:54,720 ~-~-> 00:54:58,890
4875 rallies through okay and does what blows
4876
4877 1220
4878 00:54:58,890 ~-~-> 00:55:02,610
4879 out swing high. Why? Because maybe at
4880
4881 1221
4882 00:55:02,610 ~-~-> 00:55:04,920
4883 this point, some guys have figured out
4884
4885 1222
4886 00:55:04,920 ~-~-> 00:55:07,770
4887 this is in a down move. Okay? So they're
4888
4889 1223
4890 00:55:07,770 ~-~-> 00:55:09,600
4891 going to be doing what they're gonna be
4892
4893 1224
4894 00:55:09,600 ~-~-> 00:55:13,830
4895 selling. Yeah, those guys sometimes in
4896
4897 1225
4898 00:55:13,830 ~-~-> 00:55:16,710
4899 the street, okay, get it right. But do
4900
4901 1226
4902 00:55:16,710 ~-~-> 00:55:19,110
4903 you think the elephant really wants them
4904
4905 1227
4906 00:55:19,110 ~-~-> 00:55:22,560
4907 in the pool with them? No. Okay, so
4908
4909 1228
4910 00:55:22,560 ~-~-> 00:55:25,620
4911 what's going to happen? Well, they're
4912
4913 1229
4914 00:55:25,620 ~-~-> 00:55:28,050
4915 going to be short. Okay? And they're
4916
4917 1230
4918 00:55:28,050 ~-~-> 00:55:30,630
4919 going to use this old high level to do
4920
4921 1231
4922 00:55:30,630 ~-~-> 00:55:33,450
4923 what? protect their position, right?
4924
4925 1232
4926 00:55:33,900 ~-~-> 00:55:35,850
4927 Even if they're selling down here, or
4928
4929 1233
4930 00:55:35,850 ~-~-> 00:55:37,890
4931 here, or maybe they saw this low here
4932
4933 1234
4934 00:55:37,890 ~-~-> 00:55:38,880
4935 and they want to be a seller, right?
4936
4937 1235
4938 00:55:38,880 ~-~-> 00:55:40,980
4939 They're great. What are they going to
4940
4941 1236
4942 00:55:40,980 ~-~-> 00:55:43,620
4943 use this for stop loss. It could be this
4944
4945 1237
4946 00:55:43,620 ~-~-> 00:55:47,010
4947 high here, or this one. So let's take a
4948
4949 1238
4950 00:55:47,010 ~-~-> 00:55:48,000
4951 look at what happens.
4952
4953 1239
4954 00:55:52,020 ~-~-> 00:55:52,950
4955 Here's your old high
4956
4957 1240
4958 00:55:54,270 ~-~-> 00:55:57,570
4959 and I'm going to use that level and
4960
4961 1241
4962 00:55:57,570 ~-~-> 00:55:59,430
4963 we're gonna just go above it a few pips
4964
4965 1242
4966 00:55:59,430 ~-~-> 00:55:59,970
4967 not much
4968
4969 1243
4970 00:56:03,389 ~-~-> 00:56:05,519
4971 Here you go. When price trades right
4972
4973 1244
4974 00:56:05,519 ~-~-> 00:56:05,909
4975 there,
4976
4977 1245
4978 00:56:07,620 ~-~-> 00:56:09,780
4979 the nature of the spread, does its work
4980
4981 1246
4982 00:56:09,780 ~-~-> 00:56:10,320
4983 right there.
4984
4985 1247
4986 00:56:11,730 ~-~-> 00:56:13,920
4987 What order would be resting here? Again,
4988
4989 1248
4990 00:56:13,980 ~-~-> 00:56:15,360
4991 assuming that the retail traders are
4992
4993 1249
4994 00:56:15,360 ~-~-> 00:56:18,780
4995 short, there's gonna be a buy. Stop
4996
4997 1250
4998 00:56:18,780 ~-~-> 00:56:22,080
4999 right here, buy stop. So when that price
5000
5001 1251
5002 00:56:22,080 ~-~-> 00:56:24,960
5003 trades up and stabs into that level
5004
5005 1252
5006 00:56:24,960 ~-~-> 00:56:26,640
5007 here, what's going to happen to that buy
5008
5009 1253
5010 00:56:26,640 ~-~-> 00:56:28,830
5011 stop, it becomes a market order to do
5012
5013 1254
5014 00:56:28,830 ~-~-> 00:56:31,650
5015 what buy, who's going to sell it to
5016
5017 1255
5018 00:56:31,650 ~-~-> 00:56:35,790
5019 them? Smart Money. And then when you see
5020
5021 1256
5022 00:56:35,790 ~-~-> 00:56:38,820
5023 price rally up like that, bang, what
5024
5025 1257
5026 00:56:38,820 ~-~-> 00:56:40,560
5027 they do to drive it down to their level,
5028
5029 1258
5030 00:56:40,800 ~-~-> 00:56:42,480
5031 okay? And now this is where they
5032
5033 1259
5034 00:56:42,480 ~-~-> 00:56:43,020
5035 liquidate
5036
5037 1260
5038 00:56:43,200 ~-~-> 00:56:43,920
5039 all their
5040
5041 1261
5042 00:56:45,000 ~-~-> 00:56:46,680
5043 short positions back here. Now they
5044
5045 1262
5046 00:56:46,680 ~-~-> 00:56:48,420
5047 could have, you know, liquidated summon
5048
5049 1263
5050 00:56:48,420 ~-~-> 00:56:50,370
5051 here. Okay, and that's what caused the
5052
5053 1264
5054 00:56:50,730 ~-~-> 00:56:52,350
5055 pause in here because now they're buying
5056
5057 1265
5058 00:56:52,350 ~-~-> 00:56:54,600
5059 back some other net short position that
5060
5061 1266
5062 00:56:54,600 ~-~-> 00:56:57,180
5063 they've assumed between the 130 60 and
5064
5065 1267
5066 00:56:57,180 ~-~-> 00:57:00,840
5067 150 level up here in this block of price
5068
5069 1268
5070 00:57:00,840 ~-~-> 00:57:03,960
5071 action. But as price trades down to this
5072
5073 1269
5074 00:57:03,960 ~-~-> 00:57:05,850
5075 level here, okay, they're essentially
5076
5077 1270
5078 00:57:05,850 ~-~-> 00:57:09,180
5079 now no longer heavily net short, they
5080
5081 1271
5082 00:57:09,180 ~-~-> 00:57:11,910
5083 may have some short still at one, but
5084
5085 1272
5086 00:57:11,970 ~-~-> 00:57:14,010
5087 essentially, they have been unloading
5088
5089 1273
5090 00:57:14,010 ~-~-> 00:57:16,890
5091 every time price dropped lower. Okay?
5092
5093 1274
5094 00:57:17,850 ~-~-> 00:57:19,560
5095 Because they're larger institutional
5096
5097 1275
5098 00:57:19,560 ~-~-> 00:57:22,590
5099 traders, they have to be exiting during
5100
5101 1276
5102 00:57:22,620 ~-~-> 00:57:24,690
5103 the move, but certainly driving price
5104
5105 1277
5106 00:57:24,690 ~-~-> 00:57:26,730
5107 down to a specific price point as we
5108
5109 1278
5110 00:57:26,730 ~-~-> 00:57:29,310
5111 noted on the higher time frame. Now,
5112
5113 1279
5114 00:57:30,630 ~-~-> 00:57:32,430
5115 when price gets to these levels here, we
5116
5117 1280
5118 00:57:32,430 ~-~-> 00:57:34,290
5119 could look for patterns to trade because
5120
5121 1281
5122 00:57:34,290 ~-~-> 00:57:36,330
5123 again, this would be a higher level
5124
5125 1282
5126 00:57:36,330 ~-~-> 00:57:38,700
5127 support level. Okay, and then you can
5128
5129 1283
5130 00:57:38,700 ~-~-> 00:57:43,560
5131 see, price does indeed rally up. Okay,
5132
5133 1284
5134 00:57:43,560 ~-~-> 00:57:47,400
5135 and for those that had been using these
5136
5137 1285
5138 00:57:47,400 ~-~-> 00:57:50,970
5139 points here, okay, and trade on a daily
5140
5141 1286
5142 00:57:50,970 ~-~-> 00:57:52,830
5143 timeframe, because there are nine to
5144
5145 1287
5146 00:57:52,830 ~-~-> 00:57:54,780
5147 five desk jockeys and it can't be
5148
5149 1288
5150 00:57:54,780 ~-~-> 00:57:58,590
5151 intraday traders. So use daily bars to
5152
5153 1289
5154 00:57:58,620 ~-~-> 00:58:01,290
5155 put their stop loss over Okay, those
5156
5157 1290
5158 00:58:01,290 ~-~-> 00:58:04,260
5159 guys are crushed as well and left
5160
5161 1291
5162 00:58:05,790 ~-~-> 00:58:08,340
5163 feeling bewildered. And like the game is
5164
5165 1292
5166 00:58:08,340 ~-~-> 00:58:10,830
5167 rigged. And you just learned that is in
5168
5169 1293
5170 00:58:10,830 ~-~-> 00:58:12,720
5171 fact it is rigged, and there but there's
5172
5173 1294
5174 00:58:12,720 ~-~-> 00:58:14,730
5175 a means of understanding how it's
5176
5177 1295
5178 00:58:14,730 ~-~-> 00:58:15,870
5179 rigged. Okay?
5180
5181 1296
5182 00:58:17,640 ~-~-> 00:58:19,620
5183 Let's look at these
5184
5185 1297
5186 00:58:19,650 ~-~-> 00:58:24,030
5187 specific times when price moved, okay,
5188
5189 1298
5190 00:58:24,090 ~-~-> 00:58:30,240
5191 this high here takes place at 1445 GMT,
5192
5193 1299
5194 00:58:30,780 ~-~-> 00:58:34,590
5195 or 1500 rather than 1500 GMT. This high
5196
5197 1300
5198 00:58:34,590 ~-~-> 00:58:41,130
5199 here takes place at 1500 GMT. This high
5200
5201 1301
5202 00:58:41,130 ~-~-> 00:58:53,070
5203 here is essentially 2323 30 GMT and this
5204
5205 1302
5206 00:58:53,070 ~-~-> 00:58:57,480
5207 high here is 11 GMT.
5208
5209 1303
5210 00:59:00,870 ~-~-> 00:59:01,890
5211 This high here
5212
5213 1304
5214 00:59:04,380 ~-~-> 00:59:06,180
5215 is 12 GMT.
5216
5217 1305
5218 00:59:08,790 ~-~-> 00:59:09,840
5219 And the high here
5220
5221 1306
5222 00:59:12,000 ~-~-> 00:59:21,510
5223 is 630 GMT. That's early New York oh I'm
5224
5225 1307
5226 00:59:21,510 ~-~-> 00:59:24,750
5227 sorry. I'm sorry early London open or
5228
5229 1308
5230 00:59:24,750 ~-~-> 00:59:25,350
5231 Frankfurt.
5232
5233 1309
5234 00:59:27,360 ~-~-> 00:59:29,550
5235 This is New York open.
5236
5237 1310
5238 00:59:31,740 ~-~-> 00:59:32,760
5239 This is
5240
5241 1311
5242 00:59:35,280 ~-~-> 00:59:37,650
5243 the very beginning of New York open.
5244
5245 1312
5246 00:59:40,140 ~-~-> 00:59:41,550
5247 This is Asia.
5248
5249 1313
5250 00:59:45,240 ~-~-> 00:59:48,030
5251 This is London close
5252
5253 1314
5254 00:59:51,000 ~-~-> 00:59:52,980
5255 and this is London close as well.
5256
5257 1315
5258 00:59:54,480 ~-~-> 00:59:58,020
5259 So you can see there are specific
5260
5261 1316
5262 00:59:58,020 ~-~-> 00:59:59,940
5263 turning points that are occurring at
5264
5265 1317
5266 01:00:00,540 ~-~-> 01:00:04,320
5267 Session open and closings, okay? And I
5268
5269 1318
5270 01:00:04,320 ~-~-> 01:00:05,400
5271 promised that we're going to go into
5272
5273 1319
5274 01:00:05,400 ~-~-> 01:00:07,650
5275 great detail as to what those specific
5276
5277 1320
5278 01:00:07,650 ~-~-> 01:00:10,890
5279 time pockets are. Okay? And in my
5280
5281 1321
5282 01:00:10,890 ~-~-> 01:00:13,140
5283 trading, I call them kill zones. It's
5284
5285 1322
5286 01:00:13,140 ~-~-> 01:00:16,530
5287 not because I'm supportive of serial
5288
5289 1323
5290 01:00:16,530 ~-~-> 01:00:18,450
5291 killing or, or the notion of killing
5292
5293 1324
5294 01:00:18,450 ~-~-> 01:00:22,890
5295 people. I adopt the mindset of a sniper,
5296
5297 1325
5298 01:00:22,890 ~-~-> 01:00:25,830
5299 but I don't I don't have, you know,
5300
5301 1326
5302 01:00:27,300 ~-~-> 01:00:30,990
5303 suicidal or, like
5304
5305 1327
5306 01:00:33,480 ~-~-> 01:00:36,030
5307 psychological issues where I'm attracted
5308
5309 1328
5310 01:00:36,030 ~-~-> 01:00:37,770
5311 to killing, okay, so don't think don't
5312
5313 1329
5314 01:00:37,770 ~-~-> 01:00:40,170
5315 think that's what this is. I just use it
5316
5317 1330
5318 01:00:40,170 ~-~-> 01:00:44,520
5319 to adopt a specific mindset. Okay. And I
5320
5321 1331
5322 01:00:44,550 ~-~-> 01:00:47,220
5323 view trading as a sharpshooting
5324
5325 1332
5326 01:00:47,280 ~-~-> 01:00:49,590
5327 exercise. Okay, much in terms of a
5328
5329 1333
5330 01:00:49,590 ~-~-> 01:00:52,470
5331 sniper. So, it's not that I'm supportive
5332
5333 1334
5334 01:00:52,470 ~-~-> 01:00:55,920
5335 of going out and shooting people. I'm
5336
5337 1335
5338 01:00:55,950 ~-~-> 01:00:57,240
5339 supportive of the idea of being a
5340
5341 1336
5342 01:00:57,240 ~-~-> 01:00:59,520
5343 marksman, okay, so please don't send me
5344
5345 1337
5346 01:00:59,520 ~-~-> 01:01:02,550
5347 nasty emails or, or leave comments that
5348
5349 1338
5350 01:01:02,580 ~-~-> 01:01:05,040
5351 I invariably forgot to turn off on my
5352
5353 1339
5354 01:01:05,040 ~-~-> 01:01:07,170
5355 YouTube channel, making comments about
5356
5357 1340
5358 01:01:07,170 ~-~-> 01:01:10,350
5359 how, you know, I shouldn't be supporting
5360
5361 1341
5362 01:01:10,350 ~-~-> 01:01:12,060
5363 the, you know, war or anything like
5364
5365 1342
5366 01:01:12,060 ~-~-> 01:01:15,300
5367 that. So please don't don't run with the
5368
5369 1343
5370 01:01:15,300 ~-~-> 01:01:17,340
5371 idea of the sniper theme, okay and think
5372
5373 1344
5374 01:01:17,340 ~-~-> 01:01:19,080
5375 that I'm supporting into killing of
5376
5377 1345
5378 01:01:19,080 ~-~-> 01:01:19,920
5379 human life.
5380
5381 1346
5382 01:01:20,610 ~-~-> 01:01:22,290
5383 But a lot of the themes I use in
5384
5385 1347
5386 01:01:22,290 ~-~-> 01:01:25,050
5387 teaching comes from my way of learning.
5388
5389 1348
5390 01:01:25,110 ~-~-> 01:01:27,090
5391 So I had to create a language for myself
5392
5393 1349
5394 01:01:27,090 ~-~-> 01:01:28,680
5395 to understand what it is I was seeing in
5396
5397 1350
5398 01:01:28,680 ~-~-> 01:01:32,280
5399 price action. And it also is valuable as
5400
5401 1351
5402 01:01:32,280 ~-~-> 01:01:34,140
5403 a means of communicating or creating a
5404
5405 1352
5406 01:01:34,140 ~-~-> 01:01:37,440
5407 vocabulary because a lot of this stuff
5408
5409 1353
5410 01:01:38,070 ~-~-> 01:01:40,440
5411 is it came through just staring at
5412
5413 1354
5414 01:01:40,440 ~-~-> 01:01:42,660
5415 charts. Now when I do get to concepts
5416
5417 1355
5418 01:01:42,660 ~-~-> 01:01:46,200
5419 that I learned from other people, I will
5420
5421 1356
5422 01:01:46,200 ~-~-> 01:01:48,000
5423 always give credit to where credit is
5424
5425 1357
5426 01:01:48,000 ~-~-> 01:01:51,090
5427 due. Okay. I believe that's should be
5428
5429 1358
5430 01:01:51,090 ~-~-> 01:01:53,730
5431 always the case. But you see many times
5432
5433 1359
5434 01:01:53,730 ~-~-> 01:01:56,790
5435 and I've seen my own work, okay. appear
5436
5437 1360
5438 01:01:56,790 ~-~-> 01:01:58,350
5439 in things that you could buy on the
5440
5441 1361
5442 01:01:58,350 ~-~-> 01:02:01,050
5443 internet, and I just recently bought a
5444
5445 1362
5446 01:02:01,050 ~-~-> 01:02:04,200
5447 new course. And I'm not going to say who
5448
5449 1363
5450 01:02:04,200 ~-~-> 01:02:07,110
5451 it is or what it is in this video. But I
5452
5453 1364
5454 01:02:07,110 ~-~-> 01:02:08,700
5455 was very disappointed to see something
5456
5457 1365
5458 01:02:08,730 ~-~-> 01:02:12,690
5459 of mine. And it is uniquely mine. And it
5460
5461 1366
5462 01:02:12,690 ~-~-> 01:02:15,540
5463 wasn't credited to me. And I'm very, you
5464
5465 1367
5466 01:02:15,540 ~-~-> 01:02:17,580
5467 know, disenchanted by the whole thing,
5468
5469 1368
5470 01:02:17,580 ~-~-> 01:02:20,730
5471 but I might talk about it later on, but
5472
5473 1369
5474 01:02:20,730 ~-~-> 01:02:21,750
5475 I'm certainly not going to bring it up
5476
5477 1370
5478 01:02:21,750 ~-~-> 01:02:25,290
5479 in this video series. But if you do see
5480
5481 1371
5482 01:02:25,290 ~-~-> 01:02:28,530
5483 a concept in this video series that I
5484
5485 1372
5486 01:02:28,560 ~-~-> 01:02:31,350
5487 personally learned from someone else, I
5488
5489 1373
5490 01:02:31,350 ~-~-> 01:02:33,780
5491 will certainly do my very best to give
5492
5493 1374
5494 01:02:33,780 ~-~-> 01:02:38,490
5495 them their credit as well. Let's look at
5496
5497 1375
5498 01:02:39,210 ~-~-> 01:02:44,730
5499 the notion of fractals in price action,
5500
5501 1376
5502 01:02:45,270 ~-~-> 01:02:46,950
5503 and we're gonna move over to our second
5504
5505 1377
5506 01:02:46,950 ~-~-> 01:02:49,500
5507 portion of price action and
5508
5509 1378
5510 01:02:51,180 ~-~-> 01:02:51,990
5511 study
5512
5513 1379
5514 01:02:57,030 ~-~-> 01:03:00,930
5515 this segment of price This is the second
5516
5517 1380
5518 01:03:00,930 ~-~-> 01:03:03,480
5519 portion of price that I was asking you
5520
5521 1381
5522 01:03:03,480 ~-~-> 01:03:05,490
5523 guys to study. And what I have here is
5524
5525 1382
5526 01:03:05,700 ~-~-> 01:03:08,790
5527 the price levels on a 15 minute basis
5528
5529 1383
5530 01:03:08,790 ~-~-> 01:03:10,740
5531 because remember, we talked about how
5532
5533 1384
5534 01:03:10,740 ~-~-> 01:03:11,970
5535 price is
5536
5537 1385
5538 01:03:13,889 ~-~-> 01:03:14,999
5539 universally
5540
5541 1386
5542 01:03:15,990 ~-~-> 01:03:17,940
5543 limited to trading within support
5544
5545 1387
5546 01:03:17,940 ~-~-> 01:03:19,830
5547 resistance levels, but each timeframe
5548
5549 1388
5550 01:03:19,860 ~-~-> 01:03:21,780
5551 has its own support resistance levels
5552
5553 1389
5554 01:03:21,780 ~-~-> 01:03:24,090
5555 created as price gyrates up and down.
5556
5557 1390
5558 01:03:25,200 ~-~-> 01:03:27,090
5559 What I did here is certainly not every
5560
5561 1391
5562 01:03:27,090 ~-~-> 01:03:28,500
5563 single one of them but what I'm want to
5564
5565 1392
5566 01:03:28,500 ~-~-> 01:03:31,500
5567 draw out with your eye is I want you to
5568
5569 1393
5570 01:03:31,500 ~-~-> 01:03:34,830
5571 see there's a specific overall price
5572
5573 1394
5574 01:03:34,830 ~-~-> 01:03:38,940
5575 structure here. Okay? Now, this concept
5576
5577 1395
5578 01:03:39,600 ~-~-> 01:03:42,720
5579 is not going to be fully explained and
5580
5581 1396
5582 01:03:42,720 ~-~-> 01:03:44,820
5583 understood by watching this one video.
5584
5585 1397
5586 01:03:45,570 ~-~-> 01:03:47,670
5587 But if you spend time in the charts
5588
5589 1398
5590 01:03:47,670 ~-~-> 01:03:49,500
5591 yourself, you'll start seeing these
5592
5593 1399
5594 01:03:49,500 ~-~-> 01:03:51,720
5595 things. repeat over and over and over
5596
5597 1400
5598 01:03:51,720 ~-~-> 01:03:53,520
5599 again. And it's one of those things you
5600
5601 1401
5602 01:03:53,520 ~-~-> 01:03:55,650
5603 have to keep looking at it before your
5604
5605 1402
5606 01:03:55,650 ~-~-> 01:03:57,990
5607 eye gets accustomed to seeing it and
5608
5609 1403
5610 01:03:57,990 ~-~-> 01:04:01,410
5611 then right away Your your brain will do
5612
5613 1404
5614 01:04:01,410 ~-~-> 01:04:04,200
5615 the magic, okay of seeing it remembering
5616
5617 1405
5618 01:04:04,200 ~-~-> 01:04:05,640
5619 Oh yeah, this is what this is, and then
5620
5621 1406
5622 01:04:05,640 ~-~-> 01:04:06,810
5623 boom, you'll know naturally what you
5624
5625 1407
5626 01:04:06,810 ~-~-> 01:04:09,900
5627 should be doing. And again, I'm not
5628
5629 1408
5630 01:04:09,900 ~-~-> 01:04:11,160
5631 talking about trading with your gut,
5632
5633 1409
5634 01:04:11,310 ~-~-> 01:04:13,170
5635 okay? This is what you do.
5636
5637 1410
5638 01:04:13,830 ~-~-> 01:04:14,880
5639 Buy with your eye,
5640
5641 1411
5642 01:04:15,000 ~-~-> 01:04:16,590
5643 okay, you trading what you see.
5644
5645 1412
5646 01:04:18,240 ~-~-> 01:04:21,690
5647 Price trades off of a level of support.
5648
5649 1413
5650 01:04:22,110 ~-~-> 01:04:24,060
5651 Okay, and we're just gonna assume that
5652
5653 1414
5654 01:04:24,060 ~-~-> 01:04:26,280
5655 that 132 figure was significant enough
5656
5657 1415
5658 01:04:26,280 ~-~-> 01:04:29,070
5659 to provide support and price rallies off
5660
5661 1416
5662 01:04:29,070 ~-~-> 01:04:32,070
5663 here. Okay. Price comes back down,
5664
5665 1417
5666 01:04:32,100 ~-~-> 01:04:38,880
5667 trades down into that 132 30 level,
5668
5669 1418
5670 01:04:39,690 ~-~-> 01:04:44,940
5671 essentially, okay and bounces and runs
5672
5673 1419
5674 01:04:44,940 ~-~-> 01:04:48,180
5675 through and creates a short term support
5676
5677 1420
5678 01:04:48,180 ~-~-> 01:04:53,040
5679 level. Okay. Now price has since been
5680
5681 1421
5682 01:04:53,040 ~-~-> 01:04:55,950
5683 trading higher. From that low we
5684
5685 1422
5686 01:04:55,950 ~-~-> 01:04:59,340
5687 discussed when price came down in our
5688
5689 1423
5690 01:04:59,340 ~-~-> 01:05:01,980
5691 previous session. example on the higher
5692
5693 1424
5694 01:05:01,980 ~-~-> 01:05:03,480
5695 timeframe were found that support level.
5696
5697 1425
5698 01:05:04,080 ~-~-> 01:05:06,960
5699 Now as price moved higher, okay, you can
5700
5701 1426
5702 01:05:06,960 ~-~-> 01:05:09,330
5703 see this stair stepping environment that
5704
5705 1427
5706 01:05:09,330 ~-~-> 01:05:11,550
5707 you see price doing. And eventually it
5708
5709 1428
5710 01:05:11,550 ~-~-> 01:05:14,640
5711 reaches a level of resistance. Now we're
5712
5713 1429
5714 01:05:14,640 ~-~-> 01:05:17,640
5715 going to show why it's a facade on your
5716
5717 1430
5718 01:05:17,640 ~-~-> 01:05:20,370
5719 part, to look at these lower timeframes
5720
5721 1431
5722 01:05:20,670 ~-~-> 01:05:22,650
5723 and expect with any reasonable
5724
5725 1432
5726 01:05:22,890 ~-~-> 01:05:25,560
5727 consistency to be able to see what's
5728
5729 1433
5730 01:05:25,560 ~-~-> 01:05:27,750
5731 going to transpire next, without having
5732
5733 1434
5734 01:05:27,750 ~-~-> 01:05:29,520
5735 any idea what the higher time frames are
5736
5737 1435
5738 01:05:29,520 ~-~-> 01:05:33,810
5739 doing. Now on a short term level, or a
5740
5741 1436
5742 01:05:33,810 ~-~-> 01:05:35,700
5743 short term basis, rather with a higher
5744
5745 1437
5746 01:05:35,700 ~-~-> 01:05:37,710
5747 time frame premise in mind until a high
5748
5749 1438
5750 01:05:37,710 ~-~-> 01:05:40,740
5751 timeframe barrier is met. And this is
5752
5753 1439
5754 01:05:40,740 ~-~-> 01:05:43,050
5755 going to be in the form of resistance.
5756
5757 1440
5758 01:05:43,350 ~-~-> 01:05:45,450
5759 Okay. And that would be seen up here
5760
5761 1441
5762 01:05:45,450 ~-~-> 01:05:48,360
5763 which we'll look at in a moment. Until
5764
5765 1442
5766 01:05:48,360 ~-~-> 01:05:50,400
5767 that is met that barrier or that
5768
5769 1443
5770 01:05:50,400 ~-~-> 01:05:53,730
5771 obstruction to higher prices. One could
5772
5773 1444
5774 01:05:54,240 ~-~-> 01:05:56,610
5775 capture trading opportunities when
5776
5777 1445
5778 01:05:56,610 ~-~-> 01:06:01,350
5779 prices finding support. Okay, so I'm
5780
5781 1446
5782 01:06:01,350 ~-~-> 01:06:04,950
5783 very well known for what I coined as the
5784
5785 1447
5786 01:06:04,950 ~-~-> 01:06:07,020
5787 optimal trade entry, which is simply
5788
5789 1448
5790 01:06:07,020 ~-~-> 01:06:08,700
5791 nothing more than a Fibonacci
5792
5793 1449
5794 01:06:08,700 ~-~-> 01:06:11,880
5795 retracement back to the 62% or 77
5796
5797 1450
5798 01:06:11,880 ~-~-> 01:06:15,870
5799 tradesmen level, or my own level 70.5,
5800
5801 1451
5802 01:06:15,870 ~-~-> 01:06:18,210
5803 which is between the 62 and 70% trace
5804
5805 1452
5806 01:06:18,210 ~-~-> 01:06:19,950
5807 level. They
5808
5809 1453
5810 01:06:21,540 ~-~-> 01:06:22,590
5811 they have a very
5812
5813 1454
5814 01:06:23,700 ~-~-> 01:06:27,060
5815 consistent level of reaction in price
5816
5817 1455
5818 01:06:27,330 ~-~-> 01:06:31,980
5819 when they are hunted. And I'm going to
5820
5821 1456
5822 01:06:31,980 ~-~-> 01:06:33,990
5823 give you some examples of how just by
5824
5825 1457
5826 01:06:33,990 ~-~-> 01:06:36,900
5827 using this price structure here, okay,
5828
5829 1458
5830 01:06:37,380 ~-~-> 01:06:40,620
5831 how many times you can see these in
5832
5833 1459
5834 01:06:40,650 ~-~-> 01:06:45,240
5835 these signals setting up. Now, again,
5836
5837 1460
5838 01:06:45,270 ~-~-> 01:06:47,130
5839 we're looking at the first week of
5840
5841 1461
5842 01:06:47,130 ~-~-> 01:06:49,320
5843 August, okay, the first week of August,
5844
5845 1462
5846 01:06:49,620 ~-~-> 01:06:51,510
5847 and again, we're assuming again, the
5848
5849 1463
5850 01:06:51,510 ~-~-> 01:06:53,850
5851 market is still bullish, so we'll be
5852
5853 1464
5854 01:06:53,850 ~-~-> 01:06:56,130
5855 looking for the low of the week. Okay,
5856
5857 1465
5858 01:06:56,160 ~-~-> 01:06:57,840
5859 now we reverse the script we learned
5860
5861 1466
5862 01:06:57,840 ~-~-> 01:06:59,310
5863 earlier about the trading day of the
5864
5865 1467
5866 01:06:59,310 ~-~-> 01:07:02,850
5867 week. For downloads we expect to see the
5868
5869 1468
5870 01:07:02,850 ~-~-> 01:07:04,530
5871 high the weak form by Tuesday's London
5872
5873 1469
5874 01:07:04,530 ~-~-> 01:07:07,080
5875 open or Monday and the very latest by
5876
5877 1470
5878 01:07:07,080 ~-~-> 01:07:09,720
5879 Wednesday's London open. But 70% of the
5880
5881 1471
5882 01:07:09,720 ~-~-> 01:07:14,100
5883 time you see the high form on Tuesday or
5884
5885 1472
5886 01:07:14,130 ~-~-> 01:07:17,310
5887 the low form on Tuesday. In this case,
5888
5889 1473
5890 01:07:17,550 ~-~-> 01:07:19,560
5891 the low the week. Okay, cuz here's the
5892
5893 1474
5894 01:07:19,560 ~-~-> 01:07:22,590
5895 nav here's here's Friday's close. Here's
5896
5897 1475
5898 01:07:22,590 ~-~-> 01:07:25,800
5899 Monday's open, the market opens on
5900
5901 1476
5902 01:07:25,800 ~-~-> 01:07:28,410
5903 Monday trades lower, this is the low of
5904
5905 1477
5906 01:07:28,410 ~-~-> 01:07:29,700
5907 the week. Okay.
5908
5909 1478
5910 01:07:32,040 ~-~-> 01:07:33,240
5911 Write this on your notepad
5912
5913 1479
5914 01:07:35,220 ~-~-> 01:07:40,470
5915 when there is a large range bar, okay?
5916
5917 1480
5918 01:07:40,980 ~-~-> 01:07:45,480
5919 Whether it be a daily or four hour or
5920
5921 1481
5922 01:07:45,510 ~-~-> 01:07:50,430
5923 one hour or 15 minute, we really doesn't
5924
5925 1482
5926 01:07:50,430 ~-~-> 01:07:51,810
5927 make a difference as to what time frame
5928
5929 1483
5930 01:07:51,810 ~-~-> 01:07:54,300
5931 is but whenever you have a large bar or
5932
5933 1484
5934 01:07:54,300 ~-~-> 01:07:58,050
5935 a large candle, large candles on any
5936
5937 1485
5938 01:07:58,050 ~-~-> 01:08:02,010
5939 timeframe do not usually work both sides
5940
5941 1486
5942 01:08:02,010 ~-~-> 01:08:04,650
5943 of the opening of that candle very much.
5944
5945 1487
5946 01:08:05,070 ~-~-> 01:08:07,890
5947 Okay. And what I mean by that? Well,
5948
5949 1488
5950 01:08:07,890 ~-~-> 01:08:09,390
5951 we're going to use this example here.
5952
5953 1489
5954 01:08:09,660 ~-~-> 01:08:11,280
5955 The market opened on Monday on this
5956
5957 1490
5958 01:08:11,280 ~-~-> 01:08:13,200
5959 particular week. It trades up a little
5960
5961 1491
5962 01:08:13,200 ~-~-> 01:08:14,910
5963 bit, but we're not talking about very
5964
5965 1492
5966 01:08:14,910 ~-~-> 01:08:18,150
5967 much here. Okay, let's look at exactly
5968
5969 1493
5970 01:08:18,150 ~-~-> 01:08:21,090
5971 what we're looking at here. It's moves
5972
5973 1494
5974 01:08:21,090 ~-~-> 01:08:28,230
5975 up 25 pips. It moves down. 42 pips.
5976
5977 1495
5978 01:08:28,620 ~-~-> 01:08:32,250
5979 Okay? So it starts off going up about 20
5980
5981 1496
5982 01:08:32,280 ~-~-> 01:08:35,250
5983 goes down about 40 and then starts to
5984
5985 1497
5986 01:08:35,250 ~-~-> 01:08:37,560
5987 move higher. But notice it doesn't work
5988
5989 1498
5990 01:08:37,560 ~-~-> 01:08:39,240
5991 both sides of the opening very much.
5992
5993 1499
5994 01:08:39,449 ~-~-> 01:08:40,589
5995 If we're bullish,
5996
5997 1500
5998 01:08:40,920 ~-~-> 01:08:42,900
5999 we can reasonably expect to see any
6000
6001 1501
6002 01:08:42,900 ~-~-> 01:08:47,130
6003 decline. Be very modest. Okay. So we
6004
6005 1502
6006 01:08:47,130 ~-~-> 01:08:49,890
6007 could be a buyer on weakness with this
6008
6009 1503
6010 01:08:49,980 ~-~-> 01:08:52,380
6011 with the understanding or level of
6012
6013 1504
6014 01:08:52,770 ~-~-> 01:08:55,260
6015 confidence that if this is a bullish
6016
6017 1505
6018 01:08:55,260 ~-~-> 01:08:58,230
6019 week, and it trades lower, okay, on
6020
6021 1506
6022 01:08:58,230 ~-~-> 01:09:00,570
6023 Monday or Tuesday, we can To be a buyer
6024
6025 1507
6026 01:09:00,570 ~-~-> 01:09:03,720
6027 if it finds support, okay? But now prior
6028
6029 1508
6030 01:09:03,720 ~-~-> 01:09:06,780
6031 to this price drop, I'm going to ask you
6032
6033 1509
6034 01:09:06,780 ~-~-> 01:09:08,610
6035 what do you see here. Now we're looking
6036
6037 1510
6038 01:09:08,610 ~-~-> 01:09:11,430
6039 at the 132 30 level here, but again,
6040
6041 1511
6042 01:09:11,430 ~-~-> 01:09:12,660
6043 because we move down to a lower
6044
6045 1512
6046 01:09:12,660 ~-~-> 01:09:15,840
6047 timeframe, what other levels stands out?
6048
6049 1513
6050 01:09:17,789 ~-~-> 01:09:18,929
6051 You see this high here,
6052
6053 1514
6054 01:09:19,499 ~-~-> 01:09:20,309
6055 the short term high.
6056
6057 1515
6058 01:09:21,750 ~-~-> 01:09:22,530
6059 Let's note that.
6060
6061 1516
6062 01:09:27,599 ~-~-> 01:09:30,599
6063 Now I will admit it's not very much in
6064
6065 1517
6066 01:09:30,599 ~-~-> 01:09:32,969
6067 terms of difference between here and
6068
6069 1518
6070 01:09:32,969 ~-~-> 01:09:36,239
6071 here. Okay, this level, let's note it so
6072
6073 1519
6074 01:09:36,239 ~-~-> 01:09:44,639
6075 you can see what it is the 132 26 and
6076
6077 1520
6078 01:09:44,639 ~-~-> 01:09:46,919
6079 this is the 132 30 level.
6080
6081 1521
6082 01:09:47,130 ~-~-> 01:09:49,290
6083 So it's not much in terms of
6084
6085 1522
6086 01:09:50,550 ~-~-> 01:09:53,310
6087 pips, but if this was an hourly chart or
6088
6089 1523
6090 01:09:53,310 ~-~-> 01:09:55,200
6091 a four hour chart, this could very
6092
6093 1524
6094 01:09:55,200 ~-~-> 01:09:58,590
6095 easily be 5060 different. You any number
6096
6097 1525
6098 01:09:58,590 ~-~-> 01:10:00,990
6099 of pips that's greater than Less than 10
6100
6101 1526
6102 01:10:00,990 ~-~-> 01:10:03,210
6103 here. So again, I'm trying to take your
6104
6105 1527
6106 01:10:03,210 ~-~-> 01:10:07,020
6107 eye and train it on a conceptual basis
6108
6109 1528
6110 01:10:07,260 ~-~-> 01:10:09,660
6111 and not limited to a specific timeframe.
6112
6113 1529
6114 01:10:09,870 ~-~-> 01:10:12,450
6115 Okay? The things that are generically
6116
6117 1530
6118 01:10:12,450 ~-~-> 01:10:15,750
6119 inherent or sensitive to timeframe is
6120
6121 1531
6122 01:10:15,750 ~-~-> 01:10:17,760
6123 the higher timeframe the daily for our
6124
6125 1532
6126 01:10:17,790 ~-~-> 01:10:21,360
6127 one hour. So the trend, the directional
6128
6129 1533
6130 01:10:21,360 ~-~-> 01:10:23,070
6131 bias the hearts high level support
6132
6133 1534
6134 01:10:23,070 ~-~-> 01:10:25,290
6135 resistance levels, those things don't
6136
6137 1535
6138 01:10:25,320 ~-~-> 01:10:28,200
6139 move. They're very, very, very powerful,
6140
6141 1536
6142 01:10:28,200 ~-~-> 01:10:30,300
6143 they're static, you have to correct
6144
6145 1537
6146 01:10:30,330 ~-~-> 01:10:32,160
6147 directly relate them to the higher time
6148
6149 1538
6150 01:10:32,160 ~-~-> 01:10:35,730
6151 frame again daily for our one hour. No
6152
6153 1539
6154 01:10:35,730 ~-~-> 01:10:39,300
6155 trade whatsoever. You should never take
6156
6157 1540
6158 01:10:39,300 ~-~-> 01:10:42,600
6159 a trade outside of having a key support
6160
6161 1541
6162 01:10:42,600 ~-~-> 01:10:45,840
6163 level or resistance level that is easier
6164
6165 1542
6166 01:10:45,900 ~-~-> 01:10:47,220
6167 either from the 60 minute,
6168
6169 1543
6170 01:10:48,060 ~-~-> 01:10:48,660
6171 minimum,
6172
6173 1544
6174 01:10:49,530 ~-~-> 01:10:52,650
6175 four hour or daily chart. Okay.
6176
6177 1545
6178 01:10:53,970 ~-~-> 01:10:57,360
6179 If you do this, your trading is going to
6180
6181 1546
6182 01:10:57,360 ~-~-> 01:11:00,750
6183 move to another level immediately. But
6184
6185 1547
6186 01:11:00,750 ~-~-> 01:11:03,240
6187 it's also going to force patience, which
6188
6189 1548
6190 01:11:03,240 ~-~-> 01:11:05,610
6191 is a very hard characteristic for
6192
6193 1549
6194 01:11:05,610 ~-~-> 01:11:07,650
6195 traders, especially as a new trader,
6196
6197 1550
6198 01:11:07,650 ~-~-> 01:11:10,140
6199 you're not going to have that level of
6200
6201 1551
6202 01:11:10,470 ~-~-> 01:11:13,170
6203 patience. Okay? But by applying the
6204
6205 1552
6206 01:11:13,170 ~-~-> 01:11:14,280
6207 higher time frames for resistance
6208
6209 1553
6210 01:11:14,280 ~-~-> 01:11:16,770
6211 levels, it's going to force you to wait.
6212
6213 1554
6214 01:11:17,070 ~-~-> 01:11:18,060
6215 And that's a good thing.
6216
6217 1555
6218 01:11:18,360 ~-~-> 01:11:20,430
6219 Okay, that's it. That's a characteristic
6220
6221 1556
6222 01:11:20,430 ~-~-> 01:11:23,880
6223 of good trading that has a learned
6224
6225 1557
6226 01:11:24,090 ~-~-> 01:11:26,160
6227 characteristic. We just don't we don't
6228
6229 1558
6230 01:11:26,160 ~-~-> 01:11:27,780
6231 open a book up say, Okay, I read that
6232
6233 1559
6234 01:11:27,780 ~-~-> 01:11:30,540
6235 chapter. Now. I'm patient. Now, you know
6236
6237 1560
6238 01:11:30,540 ~-~-> 01:11:31,470
6239 what I'm talking about. I mean, you
6240
6241 1561
6242 01:11:31,470 ~-~-> 01:11:33,180
6243 know, we you've had your demo accounts,
6244
6245 1562
6246 01:11:33,180 ~-~-> 01:11:35,520
6247 you've over leveraged it, you know, $100
6248
6249 1563
6250 01:11:35,520 ~-~-> 01:11:37,080
6251 per PIP just to see what would happen,
6252
6253 1564
6254 01:11:37,350 ~-~-> 01:11:38,550
6255 you know, what's going to happen?
6256
6257 1565
6258 01:11:38,760 ~-~-> 01:11:40,650
6259 Nothing, nothing money in your pocket,
6260
6261 1566
6262 01:11:40,650 ~-~-> 01:11:42,870
6263 you wasted time, and if it lost money,
6264
6265 1567
6266 01:11:43,020 ~-~-> 01:11:44,460
6267 you didn't pay attention to that one.
6268
6269 1568
6270 01:11:45,570 ~-~-> 01:11:47,970
6271 But the ones that do, you're sitting at
6272
6273 1569
6274 01:11:47,970 ~-~-> 01:11:49,020
6275 work daydreaming as to where you're
6276
6277 1570
6278 01:11:49,020 ~-~-> 01:11:50,310
6279 going to get out of having to ever have
6280
6281 1571
6282 01:11:50,310 ~-~-> 01:11:52,080
6283 a work anymore, okay, so you know what
6284
6285 1572
6286 01:11:52,080 ~-~-> 01:11:53,670
6287 you did? You know, you do all the time
6288
6289 1573
6290 01:11:53,670 ~-~-> 01:11:55,920
6291 to stop doing all that mess. So now
6292
6293 1574
6294 01:11:55,920 ~-~-> 01:11:58,320
6295 looking at this price action here, okay.
6296
6297 1575
6298 01:11:59,190 ~-~-> 01:12:02,730
6299 We have This short term high here, okay,
6300
6301 1576
6302 01:12:03,030 ~-~-> 01:12:06,180
6303 we have these swing lows in here. Okay?
6304
6305 1577
6306 01:12:06,630 ~-~-> 01:12:10,140
6307 So what what in this block of price,
6308
6309 1578
6310 01:12:10,350 ~-~-> 01:12:15,900
6311 what level in here is being worked? Any
6312
6313 1579
6314 01:12:15,900 ~-~-> 01:12:23,190
6315 idea? The 132 big figure, okay 132 big
6316
6317 1580
6318 01:12:23,190 ~-~-> 01:12:24,420
6319 figure. So what we'll do is
6320
6321 1581
6322 01:12:25,710 ~-~-> 01:12:26,880
6323 let's move this down.
6324
6325 1582
6326 01:12:30,060 ~-~-> 01:12:33,870
6327 Okay, and what I'll do is I'll take this
6328
6329 1583
6330 01:12:33,870 ~-~-> 01:12:34,320
6331 level
6332
6333 1584
6334 01:12:39,570 ~-~-> 01:12:41,490
6335 and I'm just gonna put that here.
6336
6337 1585
6338 01:12:44,700 ~-~-> 01:12:46,920
6339 Okay, so we have a price level that's
6340
6341 1586
6342 01:12:46,920 ~-~-> 01:12:50,850
6343 being worked here. And we have a very
6344
6345 1587
6346 01:12:50,850 ~-~-> 01:12:54,510
6347 short term high here as well. But this
6348
6349 1588
6350 01:12:55,080 ~-~-> 01:12:57,690
6351 retracement here. Okay, you see that
6352
6353 1589
6354 01:12:59,340 ~-~-> 01:13:02,370
6355 we're going to end Introduce briefly. I
6356
6357 1590
6358 01:13:02,370 ~-~-> 01:13:03,660
6359 don't want to do too much of this
6360
6361 1591
6362 01:13:03,660 ~-~-> 01:13:05,160
6363 because I can very easily turn this into
6364
6365 1592
6366 01:13:05,160 ~-~-> 01:13:07,740
6367 a full hour teaching just on fibs and
6368
6369 1593
6370 01:13:07,740 ~-~-> 01:13:09,420
6371 won't even scratch the surface on what's
6372
6373 1594
6374 01:13:09,420 ~-~-> 01:13:11,640
6375 applicable with it. If you pull a fib
6376
6377 1595
6378 01:13:11,640 ~-~-> 01:13:13,230
6379 from that level, okay, this is the
6380
6381 1596
6382 01:13:13,230 ~-~-> 01:13:16,500
6383 support level. Okay, we have price here,
6384
6385 1597
6386 01:13:16,830 ~-~-> 01:13:20,220
6387 rallying up away from it, making this
6388
6389 1598
6390 01:13:20,220 ~-~-> 01:13:22,710
6391 high here. Can you see that?
6392
6393 1599
6394 01:13:24,090 ~-~-> 01:13:25,350
6395 Do you see now
6396
6397 1600
6398 01:13:27,060 ~-~-> 01:13:28,200
6399 let me put this right on the level
6400
6401 1601
6402 01:13:28,200 ~-~-> 01:13:29,490
6403 because I want to be consistent about
6404
6405 1602
6406 01:13:29,490 ~-~-> 01:13:33,780
6407 what I'm showing you. This is the 70.5
6408
6409 1603
6410 01:13:33,780 ~-~-> 01:13:36,750
6411 level, this is the 79% level and this is
6412
6413 1604
6414 01:13:36,750 ~-~-> 01:13:41,520
6415 the 62% level. Price comes down to 62
6416
6417 1605
6418 01:13:41,820 ~-~-> 01:13:44,850
6419 and bounces and then what does it do? It
6420
6421 1606
6422 01:13:44,850 ~-~-> 01:13:50,850
6423 rallies off trades up into old lows. Old
6424
6425 1607
6426 01:13:50,850 ~-~-> 01:13:55,320
6427 high resistance into Tuesday. Okay,
6428
6429 1608
6430 01:13:55,380 ~-~-> 01:13:58,470
6431 Tuesday trades down. It makes a low. The
6432
6433 1609
6434 01:13:58,470 ~-~-> 01:14:02,460
6435 low Here comes at six 30 GMT thinking
6436
6437 1610
6438 01:14:02,460 ~-~-> 01:14:03,240
6439 time of day,
6440
6441 1611
6442 01:14:03,930 ~-~-> 01:14:06,240
6443 that's middle of Frankfurt.
6444
6445 1612
6446 01:14:07,259 ~-~-> 01:14:09,029
6447 the very early stages of London open.
6448
6449 1613
6450 01:14:09,389 ~-~-> 01:14:11,639
6451 Okay, just go back here for a second.
6452
6453 1614
6454 01:14:11,669 ~-~-> 01:14:15,539
6455 The lowness day here forms at 1345 GMT,
6456
6457 1615
6458 01:14:16,529 ~-~-> 01:14:20,399
6459 the high that day on Monday forms at 745
6460
6461 1616
6462 01:14:20,429 ~-~-> 01:14:23,879
6463 which is a London open. So now we have
6464
6465 1617
6466 01:14:23,909 ~-~-> 01:14:27,419
6467 another minor move here and retracement.
6468
6469 1618
6470 01:14:28,289 ~-~-> 01:14:28,679
6471 Okay.
6472
6473 1619
6474 01:14:30,480 ~-~-> 01:14:31,740
6475 If you pull a fit from that
6476
6477 1620
6478 01:14:33,450 ~-~-> 01:14:35,520
6479 price swing from here to here
6480
6481 1621
6482 01:14:38,250 ~-~-> 01:14:41,640
6483 and let's take this one off. So you can
6484
6485 1622
6486 01:14:41,640 ~-~-> 01:14:44,430
6487 see, price comes right down to that 62%
6488
6489 1623
6490 01:14:44,430 ~-~-> 01:14:46,740
6491 retracement level. Now we're hunting or
6492
6493 1624
6494 01:14:46,740 ~-~-> 01:14:51,240
6495 stocking buying opportunities. Okay, but
6496
6497 1625
6498 01:14:51,900 ~-~-> 01:14:56,460
6499 the 62% What else could we use? Okay,
6500
6501 1626
6502 01:14:56,730 ~-~-> 01:14:59,550
6503 well, let's see what else happens around
6504
6505 1627
6506 01:14:59,550 ~-~-> 01:15:04,740
6507 that. 62% we have the 132 47 so isn't
6508
6509 1628
6510 01:15:04,740 ~-~-> 01:15:08,280
6511 that really the 132 50 level? It's a
6512
6513 1629
6514 01:15:08,280 ~-~-> 01:15:10,440
6515 big, big round number right? So you can
6516
6517 1630
6518 01:15:10,440 ~-~-> 01:15:11,940
6519 see price comes down to that mid figure
6520
6521 1631
6522 01:15:11,940 ~-~-> 01:15:13,980
6523 level and then bounces. So there's a
6524
6525 1632
6526 01:15:13,980 ~-~-> 01:15:17,940
6527 confluence of support like that. Okay.
6528
6529 1633
6530 01:15:18,600 ~-~-> 01:15:21,270
6531 Now price rallies up, comes down,
6532
6533 1634
6534 01:15:21,630 ~-~-> 01:15:25,380
6535 bounces here, trades up finds a high and
6536
6537 1635
6538 01:15:25,410 ~-~-> 01:15:28,560
6539 retraces To do what? Well this old high
6540
6541 1636
6542 01:15:28,560 ~-~-> 01:15:31,290
6543 here once it's broken through is becomes
6544
6545 1637
6546 01:15:31,290 ~-~-> 01:15:33,600
6547 an inversion level again it's resistance
6548
6549 1638
6550 01:15:33,600 ~-~-> 01:15:36,030
6551 here once broken. Okay it's rose
6552
6553 1639
6554 01:15:36,030 ~-~-> 01:15:39,030
6555 inverted now becomes a support rallies
6556
6557 1640
6558 01:15:39,030 ~-~-> 01:15:42,810
6559 off okay and it comes back down on the
6560
6561 1641
6562 01:15:42,810 ~-~-> 01:15:45,270
6563 very next day so you don't have to rush.
6564
6565 1642
6566 01:15:45,600 ~-~-> 01:15:47,760
6567 If you miss this move Fine. Then you
6568
6569 1643
6570 01:15:47,760 ~-~-> 01:15:50,130
6571 start seeing on Wednesday price retraces
6572
6573 1644
6574 01:15:50,460 ~-~-> 01:15:52,410
6575 okay and you would do what expected to
6576
6577 1645
6578 01:15:52,410 ~-~-> 01:15:55,830
6579 find support were here. But now watch
6580
6581 1646
6582 01:15:55,830 ~-~-> 01:16:00,300
6583 what happens. You take your fib The
6584
6585 1647
6586 01:16:00,300 ~-~-> 01:16:04,530
6587 previous day's low, pulled up to the
6588
6589 1648
6590 01:16:04,530 ~-~-> 01:16:08,100
6591 high. This is the highest point from
6592
6593 1649
6594 01:16:08,100 ~-~-> 01:16:11,430
6595 this low to this high as it retraces. Do
6596
6597 1650
6598 01:16:11,430 ~-~-> 01:16:13,650
6599 you see what it's done here? Here's the
6600
6601 1651
6602 01:16:13,650 ~-~-> 01:16:16,770
6603 62% retracement is 7970 basement level
6604
6605 1652
6606 01:16:17,100 ~-~-> 01:16:19,020
6607 we have a confluence of support and
6608
6609 1653
6610 01:16:19,020 ~-~-> 01:16:21,450
6611 resistance on that 70.5 level or
6612
6613 1654
6614 01:16:21,450 ~-~-> 01:16:25,230
6615 sweetspot Okay, this is like that target
6616
6617 1655
6618 01:16:25,680 ~-~-> 01:16:28,470
6619 crosshair on a sniper scope This is
6620
6621 1656
6622 01:16:28,470 ~-~-> 01:16:30,150
6623 exactly what you're looking for. The
6624
6625 1657
6626 01:16:30,150 ~-~-> 01:16:32,850
6627 very low of this candle okay comes at
6628
6629 1658
6630 01:16:32,880 ~-~-> 01:16:34,980
6631 zactly at nine GMT
6632
6633 1659
6634 01:16:35,010 ~-~-> 01:16:36,150
6635 that is the
6636
6637 1660
6638 01:16:37,980 ~-~-> 01:16:41,370
6639 Monday and open kilson price rallies up,
6640
6641 1661
6642 01:16:41,760 ~-~-> 01:16:44,370
6643 takes off. Okay. breaks through this old
6644
6645 1662
6646 01:16:44,370 ~-~-> 01:16:47,010
6647 high. Okay see that old high here breaks
6648
6649 1663
6650 01:16:47,010 ~-~-> 01:16:51,090
6651 through that sticker that we had drawn
6652
6653 1664
6654 01:16:51,090 ~-~-> 01:16:54,480
6655 here off. Okay price rallies through it
6656
6657 1665
6658 01:16:54,480 ~-~-> 01:16:57,420
6659 and it comes back and does what finds an
6660
6661 1666
6662 01:16:57,420 ~-~-> 01:16:59,730
6663 inversion level this resistance broken
6664
6665 1667
6666 01:17:00,690 ~-~-> 01:17:02,910
6667 The role is inverted, boom, it becomes
6668
6669 1668
6670 01:17:02,910 ~-~-> 01:17:07,620
6671 what? Now support. Okay. Now, I'm going
6672
6673 1669
6674 01:17:07,620 ~-~-> 01:17:09,720
6675 to refrain from breaking down to a five
6676
6677 1670
6678 01:17:09,720 ~-~-> 01:17:11,460
6679 minute chart just to show you the
6680
6681 1671
6682 01:17:13,020 ~-~-> 01:17:15,510
6683 optimal trade entry here. But you see
6684
6685 1672
6686 01:17:15,510 ~-~-> 01:17:18,930
6687 this swing low here. This is London
6688
6689 1673
6690 01:17:18,930 ~-~-> 01:17:21,840
6691 close, this little swing low, here it is
6692
6693 1674
6694 01:17:21,840 ~-~-> 01:17:24,690
6695 occurs at London close, write this down
6696
6697 1675
6698 01:17:24,690 ~-~-> 01:17:28,620
6699 here in a pen, every session high and
6700
6701 1676
6702 01:17:28,620 ~-~-> 01:17:30,690
6703 low. In other words, the highest high
6704
6705 1677
6706 01:17:30,690 ~-~-> 01:17:33,060
6707 and the lowest low it makes during each
6708
6709 1678
6710 01:17:33,060 ~-~-> 01:17:36,690
6711 session. Okay? That means the London
6712
6713 1679
6714 01:17:36,690 ~-~-> 01:17:40,230
6715 session, the New York session, the asian
6716
6717 1680
6718 01:17:40,230 ~-~-> 01:17:43,140
6719 session, okay, only look at those three
6720
6721 1681
6722 01:17:43,140 ~-~-> 01:17:46,140
6723 major trading sessions. And you want to
6724
6725 1682
6726 01:17:46,140 ~-~-> 01:17:47,760
6727 be looking for the highest high and the
6728
6729 1683
6730 01:17:47,760 ~-~-> 01:17:50,610
6731 lowest low and it's easiest to do that
6732
6733 1684
6734 01:17:50,640 ~-~-> 01:17:53,280
6735 research on a five minute basis. Okay.
6736
6737 1685
6738 01:17:53,700 ~-~-> 01:17:56,160
6739 And you want to be getting used to
6740
6741 1686
6742 01:17:56,160 ~-~-> 01:17:58,770
6743 seeing what those ranges are for these
6744
6745 1687
6746 01:17:58,770 ~-~-> 01:18:02,220
6747 individual sessions. Now when you use
6748
6749 1688
6750 01:18:02,220 ~-~-> 01:18:05,250
6751 that information, you'll be able to pull
6752
6753 1689
6754 01:18:05,250 ~-~-> 01:18:07,110
6755 your fibs from these particular price
6756
6757 1690
6758 01:18:07,110 ~-~-> 01:18:09,840
6759 points. And you'll see the signals that
6760
6761 1691
6762 01:18:09,870 ~-~-> 01:18:11,490
6763 evade many people. And a lot of times
6764
6765 1692
6766 01:18:11,490 ~-~-> 01:18:13,020
6767 people watch my video and say, Well, it
6768
6769 1693
6770 01:18:13,020 ~-~-> 01:18:14,790
6771 looks like hindsight to me, you'll see
6772
6773 1694
6774 01:18:14,790 ~-~-> 01:18:16,470
6775 that this is the same stuff applied over
6776
6777 1695
6778 01:18:16,470 ~-~-> 01:18:18,450
6779 and over and over again. Okay? So we
6780
6781 1696
6782 01:18:18,450 ~-~-> 01:18:22,560
6783 have old, sorry, low here, which is old
6784
6785 1697
6786 01:18:22,560 ~-~-> 01:18:26,190
6787 highs here on Tuesday. So these are all
6788
6789 1698
6790 01:18:26,220 ~-~-> 01:18:27,960
6791 lower level support levels, they're now
6792
6793 1699
6794 01:18:27,960 ~-~-> 01:18:30,870
6795 dynamic. So this level is good, but you
6796
6797 1700
6798 01:18:30,870 ~-~-> 01:18:33,270
6799 can fine tune also. Okay, but more
6800
6801 1701
6802 01:18:33,270 ~-~-> 01:18:35,640
6803 importantly, as price trades back down
6804
6805 1702
6806 01:18:35,640 ~-~-> 01:18:38,040
6807 to this level here, I'm going to show
6808
6809 1703
6810 01:18:38,040 ~-~-> 01:18:42,690
6811 you this is the high and the low. And
6812
6813 1704
6814 01:18:42,690 ~-~-> 01:18:44,100
6815 here's the second is that tracing level
6816
6817 1705
6818 01:18:44,340 ~-~-> 01:18:47,490
6819 lying right on top of the support level.
6820
6821 1706
6822 01:18:47,490 ~-~-> 01:18:49,770
6823 So we have real support resistance with
6824
6825 1707
6826 01:18:49,770 ~-~-> 01:18:53,160
6827 overlapping Fibonacci retracement level
6828
6829 1708
6830 01:18:53,190 ~-~-> 01:18:55,350
6831 with a directional bias and mine looking
6832
6833 1709
6834 01:18:55,350 ~-~-> 01:18:57,450
6835 for higher prices. Okay, so you could be
6836
6837 1710
6838 01:18:57,450 ~-~-> 01:19:01,080
6839 a buyer on this candle here. This candle
6840
6841 1711
6842 01:19:01,110 ~-~-> 01:19:05,160
6843 comes in at 245 GMT. So you guys that
6844
6845 1712
6846 01:19:05,160 ~-~-> 01:19:07,140
6847 work all day, you could have been an
6848
6849 1713
6850 01:19:07,140 ~-~-> 01:19:09,600
6851 participant on this move this is a Asia
6852
6853 1714
6854 01:19:09,600 ~-~-> 01:19:14,490
6855 session, trade price moves up, blows
6856
6857 1715
6858 01:19:14,490 ~-~-> 01:19:16,080
6859 through a short term high that it
6860
6861 1716
6862 01:19:16,080 ~-~-> 01:19:20,850
6863 creates on this day here and meets a
6864
6865 1717
6866 01:19:21,660 ~-~-> 01:19:25,140
6867 otherwise unknown resistance level.
6868
6869 1718
6870 01:19:25,560 ~-~-> 01:19:27,720
6871 Okay, do you see the facade here if
6872
6873 1719
6874 01:19:27,720 ~-~-> 01:19:28,950
6875 you're just looking at these types of
6876
6877 1720
6878 01:19:28,950 ~-~-> 01:19:31,530
6879 charts in 15 minute basis, if you're
6880
6881 1721
6882 01:19:31,530 ~-~-> 01:19:34,170
6883 looking at sub 60 minutes, anything less
6884
6885 1722
6886 01:19:34,170 ~-~-> 01:19:37,680
6887 than 60 minutes without having a
6888
6889 1723
6890 01:19:37,680 ~-~-> 01:19:38,880
6891 reference point, on the higher
6892
6893 1724
6894 01:19:38,880 ~-~-> 01:19:41,580
6895 timeframe, you really are throwing darts
6896
6897 1725
6898 01:19:41,730 ~-~-> 01:19:43,830
6899 in the dark, you have no idea what
6900
6901 1726
6902 01:19:43,830 ~-~-> 01:19:46,110
6903 you're aiming for. Okay, you may think
6904
6905 1727
6906 01:19:46,140 ~-~-> 01:19:47,400
6907 you know what you're doing because price
6908
6909 1728
6910 01:19:47,400 ~-~-> 01:19:48,630
6911 is trading up and maybe you're drawing
6912
6913 1729
6914 01:19:48,630 ~-~-> 01:19:51,510
6915 trend lines and all that business. Look,
6916
6917 1730
6918 01:19:51,630 ~-~-> 01:19:53,040
6919 if you don't have the higher time frame
6920
6921 1731
6922 01:19:53,040 ~-~-> 01:19:55,050
6923 premise in mind, you are gambling.
6924
6925 1732
6926 01:19:55,740 ~-~-> 01:19:56,850
6927 There's no other way of saying it,
6928
6929 1733
6930 01:19:56,850 ~-~-> 01:19:59,880
6931 you're just simply gambling. So now
6932
6933 1734
6934 01:20:00,630 ~-~-> 01:20:02,580
6935 We're going to look at a moment at what
6936
6937 1735
6938 01:20:02,580 ~-~-> 01:20:04,710
6939 this catalyst was okay? And it's going
6940
6941 1736
6942 01:20:04,710 ~-~-> 01:20:06,420
6943 to be very clear to you won't be like,
6944
6945 1737
6946 01:20:06,450 ~-~-> 01:20:08,250
6947 Oh, this is now hindsight picking,
6948
6949 1738
6950 01:20:08,310 ~-~-> 01:20:09,840
6951 you're going to see it so clearly
6952
6953 1739
6954 01:20:09,840 ~-~-> 01:20:13,380
6955 obvious why it turned here. But
6956
6957 1740
6958 01:20:13,380 ~-~-> 01:20:15,600
6959 eventually price does break down and
6960
6961 1741
6962 01:20:15,600 ~-~-> 01:20:19,050
6963 trade down, breaking all of the higher
6964
6965 1742
6966 01:20:19,050 ~-~-> 01:20:21,120
6967 highs, higher lows, higher, high high,
6968
6969 1743
6970 01:20:21,270 ~-~-> 01:20:24,630
6971 it's all broken here. This low is broken
6972
6973 1744
6974 01:20:24,630 ~-~-> 01:20:27,180
6975 here. So now we have a break in market
6976
6977 1745
6978 01:20:27,180 ~-~-> 01:20:28,260
6979 structure. So we're going to learn more
6980
6981 1746
6982 01:20:28,260 ~-~-> 01:20:31,590
6983 about in later modules. But as price
6984
6985 1747
6986 01:20:31,590 ~-~-> 01:20:34,920
6987 breaks down, okay, this support level as
6988
6989 1748
6990 01:20:34,920 ~-~-> 01:20:36,300
6991 we see it at my little bounce here,
6992
6993 1749
6994 01:20:36,660 ~-~-> 01:20:39,090
6995 price comes down, breaks through it and
6996
6997 1750
6998 01:20:39,090 ~-~-> 01:20:41,910
6999 trades right back to it now. Okay, so
7000
7001 1751
7002 01:20:41,910 ~-~-> 01:20:44,580
7003 now if you pull a fib from this high to
7004
7005 1752
7006 01:20:44,580 ~-~-> 01:20:46,770
7007 this low, you can start seeing
7008
7009 1753
7010 01:20:46,770 ~-~-> 01:20:48,060
7011 overlapping and you can do this on your
7012
7013 1754
7014 01:20:48,060 ~-~-> 01:20:50,100
7015 own chart that's on this video is
7016
7017 1755
7018 01:20:50,100 ~-~-> 01:20:51,990
7019 getting very long. You can see there's
7020
7021 1756
7022 01:20:51,990 ~-~-> 01:20:53,910
7023 this selling opportunity. The candle
7024
7025 1757
7026 01:20:53,910 ~-~-> 01:20:56,490
7027 Here comes in at 60 empties Frankfurt
7028
7029 1758
7030 01:20:56,490 ~-~-> 01:20:59,040
7031 opening the very beginning of Frankfurt.
7032
7033 1759
7034 01:21:00,000 ~-~-> 01:21:03,600
7035 Price trades down, find support, okay?
7036
7037 1760
7038 01:21:04,620 ~-~-> 01:21:07,380
7039 If you just look over here, where price
7040
7041 1761
7042 01:21:07,380 ~-~-> 01:21:09,570
7043 starts to take off in here, this little
7044
7045 1762
7046 01:21:09,690 ~-~-> 01:21:12,750
7047 pause or consolidation, it bounces right
7048
7049 1763
7050 01:21:12,750 ~-~-> 01:21:15,270
7051 at that same point comes up and starts
7052
7053 1764
7054 01:21:15,270 ~-~-> 01:21:20,850
7055 making a larger range, okay? And creates
7056
7057 1765
7058 01:21:20,880 ~-~-> 01:21:24,960
7059 a tap to this old swing low is
7060
7061 1766
7062 01:21:24,960 ~-~-> 01:21:27,240
7063 resistance and then trades lower and
7064
7065 1767
7066 01:21:27,240 ~-~-> 01:21:30,510
7067 breaks through this swing low trade
7068
7069 1768
7070 01:21:30,510 ~-~-> 01:21:33,390
7071 softer back right back down to old lows
7072
7073 1769
7074 01:21:33,510 ~-~-> 01:21:36,300
7075 that I did not have load on the chart as
7076
7077 1770
7078 01:21:36,330 ~-~-> 01:21:37,440
7079 a horizontal line.
7080
7081 1771
7082 01:21:38,370 ~-~-> 01:21:41,040
7083 It bounces trades up to a known level of
7084
7085 1772
7086 01:21:41,040 ~-~-> 01:21:44,190
7087 resistance, okay, and comes back down
7088
7089 1773
7090 01:21:44,520 ~-~-> 01:21:46,620
7091 and starts consolidating. But it's
7092
7093 1774
7094 01:21:46,620 ~-~-> 01:21:50,310
7095 consolidating around that 132 50 level.
7096
7097 1775
7098 01:21:51,240 ~-~-> 01:21:53,160
7099 So that's just calibrate our level here
7100
7101 1776
7102 01:22:00,150 ~-~-> 01:22:02,220
7103 Okay, we're gonna leave that there. And
7104
7105 1777
7106 01:22:02,220 ~-~-> 01:22:03,870
7107 I'm going to take this one off too. So
7108
7109 1778
7110 01:22:03,870 ~-~-> 01:22:05,610
7111 it won't be confusing to us when we go
7112
7113 1779
7114 01:22:05,610 ~-~-> 01:22:08,610
7115 out to a higher timeframe chart, because
7116
7117 1780
7118 01:22:08,610 ~-~-> 01:22:11,670
7119 I want to illustrate what it is that's
7120
7121 1781
7122 01:22:11,670 ~-~-> 01:22:14,910
7123 transpiring here. And now up here, if
7124
7125 1782
7126 01:22:14,910 ~-~-> 01:22:16,590
7127 you look on the left, I'm sorry, on the
7128
7129 1783
7130 01:22:16,590 ~-~-> 01:22:18,630
7131 right hand side, this is essentially the
7132
7133 1784
7134 01:22:18,630 ~-~-> 01:22:19,890
7135 134 figure.
7136
7137 1785
7138 01:22:21,180 ~-~-> 01:22:22,770
7139 So what we're going to do is we're just
7140
7141 1786
7142 01:22:22,770 ~-~-> 01:22:23,520
7143 going to highlight
7144
7145 1787
7146 01:22:24,810 ~-~-> 01:22:25,920
7147 the 134.
7148
7149 1788
7150 01:22:29,220 ~-~-> 01:22:32,160
7151 Okay, and it was 133 98 was the high
7152
7153 1789
7154 01:22:32,160 ~-~-> 01:22:34,710
7155 that day, but we're going to see there's
7156
7157 1790
7158 01:22:34,710 ~-~-> 01:22:36,690
7159 an actual high on the higher timeframe
7160
7161 1791
7162 01:22:36,690 ~-~-> 01:22:38,850
7163 that this would have been utilized as an
7164
7165 1792
7166 01:22:38,850 ~-~-> 01:22:41,040
7167 unreasonable expectation. Expect price
7168
7169 1793
7170 01:22:41,040 ~-~-> 01:22:45,540
7171 to be either pausing at that level, or
7172
7173 1794
7174 01:22:45,540 ~-~-> 01:22:47,730
7175 maybe a little bit above it, excuse me,
7176
7177 1795
7178 01:22:47,940 ~-~-> 01:22:51,180
7179 or below as we have here. Now we're
7180
7181 1796
7182 01:22:51,180 ~-~-> 01:22:52,920
7183 gonna drop out to a four hour chart.
7184
7185 1797
7186 01:22:58,410 ~-~-> 01:23:00,690
7187 Okay, and here is that Oh, level right
7188
7189 1798
7190 01:23:00,690 ~-~-> 01:23:04,110
7191 there. Okay. Do you see these old highs?
7192
7193 1799
7194 01:23:05,070 ~-~-> 01:23:08,760
7195 It's essentially worked that 134 figure.
7196
7197 1800
7198 01:23:09,150 ~-~-> 01:23:11,370
7199 How about this old high. See that? Let
7200
7201 1801
7202 01:23:11,370 ~-~-> 01:23:16,260
7203 me take these vertical lines off. Sorry,
7204
7205 1802
7206 01:23:16,320 ~-~-> 01:23:18,630
7207 I gotta get this office drive when I
7208
7209 1803
7210 01:23:18,630 ~-~-> 01:23:19,110
7211 write to
7212
7213 1804
7214 01:23:20,580 ~-~-> 01:23:21,480
7215 see the price
7216
7217 1805
7218 01:23:22,140 ~-~-> 01:23:24,390
7219 slipped aggressively layer right there
7220
7221 1806
7222 01:23:24,420 ~-~-> 01:23:27,900
7223 and as price ran up to that old high in
7224
7225 1807
7226 01:23:27,900 ~-~-> 01:23:31,170
7227 here, it's reasonable to expect that at
7228
7229 1808
7230 01:23:31,170 ~-~-> 01:23:33,450
7231 least this would be a pause or a
7232
7233 1809
7234 01:23:33,450 ~-~-> 01:23:36,480
7235 reversal. And you see that if you go
7236
7237 1810
7238 01:23:36,480 ~-~-> 01:23:37,380
7239 back farther
7240
7241 1811
7242 01:23:39,600 ~-~-> 01:23:42,210
7243 look at these highs. See that?
7244
7245 1812
7246 01:23:43,800 ~-~-> 01:23:45,210
7247 How about we go out to a daily chart.
7248
7249 1813
7250 01:23:49,680 ~-~-> 01:23:51,330
7251 Here's those highs we just looked at.
7252
7253 1814
7254 01:23:52,320 ~-~-> 01:23:52,920
7255 Look at this high.
7256
7257 1815
7258 01:23:54,840 ~-~-> 01:23:55,770
7259 Look at the lows here
7260
7261 1816
7262 01:23:57,090 ~-~-> 01:23:59,160
7263 to the highs here. You don't think that
7264
7265 1817
7266 01:23:59,160 ~-~-> 01:23:59,970
7267 level sensitive
7268
7269 1818
7270 01:24:01,230 ~-~-> 01:24:03,450
7271 Okay, you sent me saw that here. Okay?
7272
7273 1819
7274 01:24:03,930 ~-~-> 01:24:06,600
7275 So, again, let's go back down to the 15
7276
7277 1820
7278 01:24:06,600 ~-~-> 01:24:13,020
7279 minutes for price trades down from
7280
7281 1821
7282 01:24:13,020 ~-~-> 01:24:16,380
7283 there, okay until it does what it finds
7284
7285 1822
7286 01:24:16,410 ~-~-> 01:24:22,200
7287 support. Okay? This level in here where
7288
7289 1823
7290 01:24:22,200 ~-~-> 01:24:25,530
7291 it's going to borrow horizontal line and
7292
7293 1824
7294 01:24:25,530 ~-~-> 01:24:27,510
7295 we're going to use the very extreme.
7296
7297 1825
7298 01:24:27,930 ~-~-> 01:24:30,150
7299 Okay? Now this is illustrating the,
7300
7301 1826
7302 01:24:30,180 ~-~-> 01:24:31,740
7303 again the facade of using
7304
7305 1827
7306 01:24:31,740 ~-~-> 01:24:32,760
7307 lower timeframes
7308
7309 1828
7310 01:24:32,880 ~-~-> 01:24:34,830
7311 to justify the trade without having a
7312
7313 1829
7314 01:24:34,830 ~-~-> 01:24:36,540
7315 higher time frame premise. Okay?
7316
7317 1830
7318 01:24:37,560 ~-~-> 01:24:39,990
7319 We have the 132 10 level,
7320
7321 1831
7322 01:24:40,980 ~-~-> 01:24:42,300
7323 this essentially what that is, and
7324
7325 1832
7326 01:24:42,300 ~-~-> 01:24:45,510
7327 that's a level that I've talked about in
7328
7329 1833
7330 01:24:45,750 ~-~-> 01:24:48,090
7331 weeks. Since this time of this
7332
7333 1834
7334 01:24:48,090 ~-~-> 01:24:48,600
7335 recording.
7336
7337 1835
7338 01:24:49,920 ~-~-> 01:24:51,330
7339 We got to a four hour chart.
7340
7341 1836
7342 01:24:53,340 ~-~-> 01:24:58,290
7343 Here's that 130 to 10 level. Okay, price
7344
7345 1837
7346 01:24:58,290 ~-~-> 01:25:00,780
7347 comes down, hits it right there. rallies
7348
7349 1838
7350 01:25:00,780 ~-~-> 01:25:05,040
7351 off. Look at the time it spends at
7352
7353 1839
7354 01:25:05,040 ~-~-> 01:25:07,560
7355 support resistance at that level,
7356
7357 1840
7358 01:25:09,000 ~-~-> 01:25:17,160
7359 see that? Okay.
7360
7361 1841
7362 01:25:21,270 ~-~-> 01:25:22,980
7363 When price trades down like this
7364
7365 1842
7366 01:25:24,570 ~-~-> 01:25:25,530
7367 and rallies off,
7368
7369 1843
7370 01:25:27,270 ~-~-> 01:25:28,800
7371 back down to a
7372
7373 1844
7374 01:25:31,710 ~-~-> 01:25:33,000
7375 15 minute timeframe.
7376
7377 1845
7378 01:25:35,790 ~-~-> 01:25:38,730
7379 It was in a consolidation. So I was
7380
7381 1846
7382 01:25:38,730 ~-~-> 01:25:39,480
7383 asking you
7384
7385 1847
7386 01:25:41,580 ~-~-> 01:25:43,410
7387 when we were doing our first episode
7388
7389 1848
7390 01:25:43,440 ~-~-> 01:25:44,580
7391 what you saw
7392
7393 1849
7394 01:25:46,320 ~-~-> 01:25:50,190
7395 here, okay. Now this is the market maker
7396
7397 1850
7398 01:25:50,190 ~-~-> 01:25:52,890
7399 business model. Okay, and we'll talk
7400
7401 1851
7402 01:25:52,890 ~-~-> 01:25:54,990
7403 more about this as we go along. But we
7404
7405 1852
7406 01:25:54,990 ~-~-> 01:25:58,350
7407 generally see a consolidation or rally
7408
7409 1853
7410 01:25:59,340 ~-~-> 01:26:01,500
7411 or retracement And then another leg up
7412
7413 1854
7414 01:26:02,430 ~-~-> 01:26:05,220
7415 and a pause and a leg up in an eventual
7416
7417 1855
7418 01:26:05,220 ~-~-> 01:26:08,220
7419 reversal with a failure swing, where
7420
7421 1856
7422 01:26:08,220 ~-~-> 01:26:10,020
7423 she's a high, it fails go higher and
7424
7425 1857
7426 01:26:10,020 ~-~-> 01:26:12,030
7427 then it breaks down. Then you start
7428
7429 1858
7430 01:26:12,030 ~-~-> 01:26:13,830
7431 seeing the market move lower with
7432
7433 1859
7434 01:26:13,830 ~-~-> 01:26:17,820
7435 opportunities to sell. Okay? There are
7436
7437 1860
7438 01:26:18,780 ~-~-> 01:26:21,870
7439 really two legs up and then two legs
7440
7441 1861
7442 01:26:21,870 ~-~-> 01:26:26,610
7443 down. And there is an Zenith point here.
7444
7445 1862
7446 01:26:27,270 ~-~-> 01:26:30,480
7447 There's an origin point here and a
7448
7449 1863
7450 01:26:30,480 ~-~-> 01:26:32,700
7451 conclusion point on the right side,
7452
7453 1864
7454 01:26:33,030 ~-~-> 01:26:35,490
7455 okay? They build a block of orders.
7456
7457 1865
7458 01:26:36,330 ~-~-> 01:26:39,180
7459 Okay, they rally the price up. They is
7460
7461 1866
7462 01:26:39,210 ~-~-> 01:26:42,120
7463 dealers, okay, the market makers and
7464
7465 1867
7466 01:26:42,120 ~-~-> 01:26:45,900
7467 then they have another leg up. If you
7468
7469 1868
7470 01:26:45,900 ~-~-> 01:26:50,190
7471 look at price very generically, if you
7472
7473 1869
7474 01:26:50,190 ~-~-> 01:26:52,050
7475 say okay, here's the low and it rallies
7476
7477 1870
7478 01:26:52,050 ~-~-> 01:26:53,310
7479 up and makes this price swing
7480
7481 1871
7482 01:27:00,000 ~-~-> 01:27:02,250
7483 essentially using this low here, this is
7484
7485 1872
7486 01:27:02,250 ~-~-> 01:27:05,310
7487 a second leg here. Okay? Now we're not
7488
7489 1873
7490 01:27:05,310 ~-~-> 01:27:09,390
7491 looking for x in perfect symmetry, but
7492
7493 1874
7494 01:27:09,390 ~-~-> 01:27:11,280
7495 the overall price structure will always
7496
7497 1875
7498 01:27:11,280 ~-~-> 01:27:12,810
7499 be very similar to what you see here.
7500
7501 1876
7502 01:27:13,560 ~-~-> 01:27:15,000
7503 The price move lower.
7504
7505 1877
7506 01:27:18,029 ~-~-> 01:27:20,879
7507 Okay, we have a high, down to a low.
7508
7509 1878
7510 01:27:25,560 ~-~-> 01:27:28,410
7511 Okay, you can see the second light here.
7512
7513 1879
7514 01:27:29,010 ~-~-> 01:27:31,620
7515 Okay, so we have price move and
7516
7517 1880
7518 01:27:31,650 ~-~-> 01:27:33,840
7519 consolidation and or move lower. So
7520
7521 1881
7522 01:27:33,840 ~-~-> 01:27:36,330
7523 that's the second like. So there's two
7524
7525 1882
7526 01:27:36,330 ~-~-> 01:27:38,940
7527 phases up, two phases down, but there's
7528
7529 1883
7530 01:27:38,940 ~-~-> 01:27:41,880
7531 a reactionary high that's formed here.
7532
7533 1884
7534 01:27:42,300 ~-~-> 01:27:47,040
7535 Okay. So they rally price up, and then
7536
7537 1885
7538 01:27:47,040 ~-~-> 01:27:49,560
7539 they sell off. So the accumulation they
7540
7541 1886
7542 01:27:49,560 ~-~-> 01:27:52,350
7543 accumulate Long's here, they rally price
7544
7545 1887
7546 01:27:52,350 ~-~-> 01:27:54,300
7547 up as prices rally and they distribute,
7548
7549 1888
7550 01:27:54,930 ~-~-> 01:27:56,880
7551 and then they start selling on the other
7552
7553 1889
7554 01:27:56,880 ~-~-> 01:27:59,130
7555 side. Usually what happens is folks over
7556
7557 1890
7558 01:27:59,130 ~-~-> 01:28:02,100
7559 here are expecting it to continue. And
7560
7561 1891
7562 01:28:02,100 ~-~-> 01:28:03,750
7563 they're buying over here. Because why
7564
7565 1892
7566 01:28:03,750 ~-~-> 01:28:05,940
7567 they're looking at loads of here drawing
7568
7569 1893
7570 01:28:05,940 ~-~-> 01:28:07,740
7571 trend lines, and then thinking, Okay,
7572
7573 1894
7574 01:28:07,740 ~-~-> 01:28:08,910
7575 it's right at the trendline and start
7576
7577 1895
7578 01:28:08,910 ~-~-> 01:28:12,540
7579 buying in breaks. And they don't know
7580
7581 1896
7582 01:28:12,540 ~-~-> 01:28:15,720
7583 what they're doing so much in the same
7584
7585 1897
7586 01:28:15,720 ~-~-> 01:28:17,850
7587 way it does it on the upside. Same thing
7588
7589 1898
7590 01:28:17,850 ~-~-> 01:28:19,890
7591 will happen here, folks start seeing
7592
7593 1899
7594 01:28:19,890 ~-~-> 01:28:22,020
7595 these stair steps going lower, lower,
7596
7597 1900
7598 01:28:22,020 ~-~-> 01:28:24,060
7599 lower, they'll draw their trend line.
7600
7601 1901
7602 01:28:25,290 ~-~-> 01:28:27,120
7603 Again, this is why I'm not a fan of
7604
7605 1902
7606 01:28:27,120 ~-~-> 01:28:30,030
7607 trend lines. But you can see how this is
7608
7609 1903
7610 01:28:30,030 ~-~-> 01:28:33,150
7611 a very textbook trend line. So when
7612
7613 1904
7614 01:28:33,150 ~-~-> 01:28:35,820
7615 price gets here, okay, let's be a
7616
7617 1905
7618 01:28:35,820 ~-~-> 01:28:41,610
7619 seller. Really? Why? Because the 15
7620
7621 1906
7622 01:28:41,610 ~-~-> 01:28:43,680
7623 minute chart says so it's a it's a trend
7624
7625 1907
7626 01:28:43,680 ~-~-> 01:28:43,920
7627 line.
7628
7629 1908
7630 01:28:45,360 ~-~-> 01:28:46,530
7631 Watch what happens.
7632
7633 1909
7634 01:28:48,900 ~-~-> 01:28:50,310
7635 Wow, we've made money.
7636
7637 1910
7638 01:28:51,930 ~-~-> 01:28:53,490
7639 Boom, we got crushed.
7640
7641 1911
7642 01:28:55,110 ~-~-> 01:28:57,480
7643 Watch what's happened. Okay, we move
7644
7645 1912
7646 01:28:57,480 ~-~-> 01:29:00,780
7647 into another market maker. business
7648
7649 1913
7650 01:29:00,780 ~-~-> 01:29:02,730
7651 model we go on until consolidation, a
7652
7653 1914
7654 01:29:02,730 ~-~-> 01:29:06,000
7655 fake rally. They take the stops out on
7656
7657 1915
7658 01:29:06,000 ~-~-> 01:29:07,200
7659 those that are right on the market so
7660
7661 1916
7662 01:29:07,200 ~-~-> 01:29:08,280
7663 they could have been buyers down in
7664
7665 1917
7666 01:29:08,280 ~-~-> 01:29:10,980
7667 here. Okay, there's gonna be retail
7668
7669 1918
7670 01:29:10,980 ~-~-> 01:29:12,600
7671 traders that are being buyers down here
7672
7673 1919
7674 01:29:12,600 ~-~-> 01:29:15,240
7675 and they would have been right. Bang,
7676
7677 1920
7678 01:29:15,240 ~-~-> 01:29:17,130
7679 you take them out, it activates their
7680
7681 1921
7682 01:29:17,130 ~-~-> 01:29:19,410
7683 cell stop, their cell stop becomes a
7684
7685 1922
7686 01:29:19,410 ~-~-> 01:29:21,510
7687 sell order at the market, who's going to
7688
7689 1923
7690 01:29:21,510 ~-~-> 01:29:22,140
7691 buy it from
7692
7693 1924
7694 01:29:23,220 ~-~-> 01:29:23,910
7695 smart money.
7696
7697 1925
7698 01:29:24,840 ~-~-> 01:29:26,880
7699 And you see this extrapolated, huge
7700
7701 1926
7702 01:29:26,880 ~-~-> 01:29:30,810
7703 move, rally up. Okay. Now think like a
7704
7705 1927
7706 01:29:30,810 ~-~-> 01:29:32,490
7707 way over here we have a consolidation
7708
7709 1928
7710 01:29:32,520 ~-~-> 01:29:35,160
7711 early, and then a consolidation rally.
7712
7713 1929
7714 01:29:35,220 ~-~-> 01:29:39,330
7715 It's always a rally in a reversal of
7716
7717 1930
7718 01:29:39,330 ~-~-> 01:29:41,610
7719 sorts and then a breakdown. Okay, let's
7720
7721 1931
7722 01:29:41,610 ~-~-> 01:29:44,400
7723 look at what we're looking at here. We
7724
7725 1932
7726 01:29:44,400 ~-~-> 01:29:47,100
7727 have a consolidation, a rally, a
7728
7729 1933
7730 01:29:47,100 ~-~-> 01:29:49,350
7731 consolidation around Ollie.
7732
7733 1934
7734 01:29:51,630 ~-~-> 01:29:52,500
7735 A failure swing.
7736
7737 1935
7738 01:29:53,100 ~-~-> 01:29:54,780
7739 The market breaks down and creates a
7740
7741 1936
7742 01:29:54,780 ~-~-> 01:30:01,590
7743 false rally and move lower. Lower rally
7744
7745 1937
7746 01:30:02,790 ~-~-> 01:30:07,890
7747 move up into old resistance. Okay? And
7748
7749 1938
7750 01:30:07,890 ~-~-> 01:30:12,420
7751 this is where we're at right now. So you
7752
7753 1939
7754 01:30:12,420 ~-~-> 01:30:13,980
7755 can see there's a general repeating
7756
7757 1940
7758 01:30:13,980 ~-~-> 01:30:16,410
7759 theme here, okay? They're not always
7760
7761 1941
7762 01:30:16,410 ~-~-> 01:30:18,000
7763 going to be identical, but they're going
7764
7765 1942
7766 01:30:18,000 ~-~-> 01:30:20,130
7767 to be very close in terms of their
7768
7769 1943
7770 01:30:21,630 ~-~-> 01:30:23,910
7771 structure. Okay? And this is what I
7772
7773 1944
7774 01:30:23,910 ~-~-> 01:30:25,920
7775 refer to as market structure, you need
7776
7777 1945
7778 01:30:25,920 ~-~-> 01:30:29,220
7779 to see what price is trying to do. Okay?
7780
7781 1946
7782 01:30:29,250 ~-~-> 01:30:31,500
7783 And key office support resistance, use
7784
7785 1947
7786 01:30:31,500 ~-~-> 01:30:35,130
7787 time of day, use day of the week. Okay,
7788
7789 1948
7790 01:30:35,190 ~-~-> 01:30:37,530
7791 and let's add that real quick here. You
7792
7793 1949
7794 01:30:37,530 ~-~-> 01:30:40,530
7795 can see that the lowest formed on the
7796
7797 1950
7798 01:30:40,530 ~-~-> 01:30:42,990
7799 initial leg up, but you're now in a
7800
7801 1951
7802 01:30:42,990 ~-~-> 01:30:46,080
7803 second stage. Okay? This is where we
7804
7805 1952
7806 01:30:46,110 ~-~-> 01:30:49,770
7807 apply. It's more of a list an advanced
7808
7809 1953
7810 01:30:50,040 ~-~-> 01:30:51,960
7811 approach to utilizing but you're also
7812
7813 1954
7814 01:30:51,960 ~-~-> 01:30:54,030
7815 implying time on the study of time is
7816
7817 1955
7818 01:30:54,030 ~-~-> 01:30:58,650
7819 important. Okay, so you have this price
7820
7821 1956
7822 01:30:58,650 ~-~-> 01:31:00,750
7823 rally here from the previous week. Then
7824
7825 1957
7826 01:31:00,750 ~-~-> 01:31:03,390
7827 consolidation and then it rallies up. So
7828
7829 1958
7830 01:31:03,390 ~-~-> 01:31:05,250
7831 this is when you get these weeks that
7832
7833 1959
7834 01:31:05,700 ~-~-> 01:31:07,980
7835 Yeah, you do have a low form on a Monday
7836
7837 1960
7838 01:31:07,980 ~-~-> 01:31:10,620
7839 or Tuesday rallies off, it makes a very
7840
7841 1961
7842 01:31:10,620 ~-~-> 01:31:13,350
7843 good potentially profitable trade. But
7844
7845 1962
7846 01:31:13,350 ~-~-> 01:31:15,570
7847 then you have the reversal, failure
7848
7849 1963
7850 01:31:15,570 ~-~-> 01:31:17,520
7851 swing and it trades lower and takes out
7852
7853 1964
7854 01:31:17,520 ~-~-> 01:31:20,520
7855 the weekly low. Why did it do that? Take
7856
7857 1965
7858 01:31:20,520 ~-~-> 01:31:22,620
7859 the vertical lines off and take the
7860
7861 1966
7862 01:31:22,620 ~-~-> 01:31:24,450
7863 barriers or blinders that you have on
7864
7865 1967
7866 01:31:24,450 ~-~-> 01:31:26,010
7867 thinking okay ICT said
7868
7869 1968
7870 01:31:26,280 ~-~-> 01:31:27,600
7871 the week is bullish,
7872
7873 1969
7874 01:31:27,930 ~-~-> 01:31:29,430
7875 that means it's going to be the low of
7876
7877 1970
7878 01:31:29,430 ~-~-> 01:31:30,750
7879 the week on Monday or Tuesday or
7880
7881 1971
7882 01:31:30,750 ~-~-> 01:31:32,550
7883 certainly latest by Wednesday's London
7884
7885 1972
7886 01:31:32,550 ~-~-> 01:31:35,070
7887 open so therefore, buy and hold.
7888
7889 1973
7890 01:31:35,850 ~-~-> 01:31:37,170
7891 Well, there's a little bit more
7892
7893 1974
7894 01:31:37,170 ~-~-> 01:31:39,330
7895 to it than that and that gets back to
7896
7897 1975
7898 01:31:39,330 ~-~-> 01:31:40,920
7899 where we at in terms of the overall
7900
7901 1976
7902 01:31:40,920 ~-~-> 01:31:44,580
7903 market structure. Okay. So now on the
7904
7905 1977
7906 01:31:44,640 ~-~-> 01:31:48,540
7907 other side of the business model, so now
7908
7909 1978
7910 01:31:48,570 ~-~-> 01:31:50,910
7911 Are we going to continue to move lower,
7912
7913 1979
7914 01:31:51,960 ~-~-> 01:31:54,000
7915 very well could. Why because we went up
7916
7917 1980
7918 01:31:54,000 ~-~-> 01:31:58,950
7919 to at 134 and failed. Okay. There's a
7920
7921 1981
7922 01:31:58,950 ~-~-> 01:32:00,300
7923 little bit of a lot of fun. A lot of
7924
7925 1982
7926 01:32:00,300 ~-~-> 01:32:02,160
7927 other things that we could build on. And
7928
7929 1983
7930 01:32:02,160 ~-~-> 01:32:02,940
7931 again, I'm not trying to give you a
7932
7933 1984
7934 01:32:02,940 ~-~-> 01:32:05,610
7935 trade. But there's certainly a lot to
7936
7937 1985
7938 01:32:05,640 ~-~-> 01:32:06,570
7939 suggest that
7940
7941 1986
7942 01:32:06,630 ~-~-> 01:32:09,000
7943 this could potentially become a nice
7944
7945 1987
7946 01:32:09,000 ~-~-> 01:32:10,470
7947 starting point. If you look at the high
7948
7949 1988
7950 01:32:10,470 ~-~-> 01:32:12,660
7951 here down to this low, it's a very
7952
7953 1989
7954 01:32:12,660 ~-~-> 01:32:15,420
7955 significant retracement point. And we'll
7956
7957 1990
7958 01:32:15,420 ~-~-> 01:32:18,420
7959 just leave that for another time. But if
7960
7961 1991
7962 01:32:18,420 ~-~-> 01:32:21,390
7963 price continues to move on higher, then
7964
7965 1992
7966 01:32:21,390 ~-~-> 01:32:25,170
7967 we can assume that this is a very solid
7968
7969 1993
7970 01:32:25,290 ~-~-> 01:32:28,260
7971 swing low is formed. And we could see,
7972
7973 1994
7974 01:32:28,380 ~-~-> 01:32:30,420
7975 you know, this, this high challenge but
7976
7977 1995
7978 01:32:30,570 ~-~-> 01:32:32,760
7979 we don't know for certain ways look for
7980
7981 1996
7982 01:32:32,760 ~-~-> 01:32:35,670
7983 confluences of support resistance with a
7984
7985 1997
7986 01:32:35,670 ~-~-> 01:32:37,350
7987 bias in mind and then
7988
7989 1998
7990 01:32:37,950 ~-~-> 01:32:38,760
7991 trade on that.
7992
7993 1999
7994 01:32:39,150 ~-~-> 01:32:42,570
7995 And overall, consistently. Applying that
7996
7997 2000
7998 01:32:42,570 ~-~-> 01:32:45,120
7999 mindset, you'll see that there's a means
8000
8001 2001
8002 01:32:45,120 ~-~-> 01:32:47,970
8003 of finding consistency in your trading.