ICT - Sniper Course - 05 - Range Finding module - Institutional.srt
Last modified by Drunk Monkey on 2021-06-10 10:34
| 1 | 00:00:55,590 --> 00:01:07,680 | ICT: Hello Folks, this is Michael with a warm welcome to Part Five in our continuing series of the ICT scout sniper basic Field Guide. And this episode is |
| 2 | 00:01:08,070 --> 00:01:17,580 | titled range finding. Okay, and what we'll be covering in this presentation. Well, we're going to be reviewing the previous episodes assignment tracking |
| 3 | 00:01:17,580 --> 00:01:26,700 | institutional price action. Now you were instructed to go through your charts and look at the daily and four hour and look for reference points and order |
| 4 | 00:01:26,700 --> 00:01:35,430 | blocks, you can pull your fibs cross hunting optimal trade entries. For those who didn't do the homework, we're gonna be giving a couple examples. And we're |
| 5 | 00:01:35,430 --> 00:01:43,530 | gonna be looking at specific charts. And we're gonna give a specific order block illustrations. Now, I've worked up a couple illustrations, obviously in the |
| 6 | 00:01:43,530 --> 00:01:51,990 | fiber, which is the Euro USD give you a boat example. In fact, we're going to probably give you two or three of them. And we'll give you a bearish example. |
| 7 | 00:01:53,310 --> 00:02:02,250 | And we're going to be looking at a pair that's probably very alien to anyone who's been following my work. The Canadian Dollar and Japanese yen pair, okay, |
| 8 | 00:02:02,250 --> 00:02:12,780 | we're gonna be looking at a bullish example is that basically to highlight the the overall universal application to my concepts, a even applying it to an |
| 9 | 00:02:12,780 --> 00:02:20,340 | exotic pair like this as an illustration. And we're looking at another in my opinion is an exotic is Australian and Japanese yen, we're gonna give you a |
| 10 | 00:02:20,340 --> 00:02:34,170 | bullet examples that pair illustrates an exotic application as well. Remember talking about target selection concepts, and it begins with price swings. And |
| 11 | 00:02:34,170 --> 00:02:43,590 | now obviously, it's in the eye of the beholder, okay, so without your ability to see the overall price swings, that's going to be the hindering or obstacle for |
| 12 | 00:02:43,590 --> 00:02:50,520 | you. Okay, so you're gonna have to put some time into looking at the charts. If you haven't already done so and acquired that talent, you're going to need to do |
| 13 | 00:02:50,520 --> 00:03:00,660 | that before you can actually move forward. Price reference points, we're talking about that specifically. And we're gonna be introducing the 50% rule of |
| 14 | 00:03:00,660 --> 00:03:16,560 | symmetrical price swings, and we're giving you the instructions of Mt for fib calibration. And we're looking at ICT swing projections, wow. Market symmetry in |
| 15 | 00:03:16,560 --> 00:03:26,370 | the bullish realm. Okay, we're gonna be talking about equilibrium and price swing fulcrums will give you upside objectives. And we'll be looking at the |
| 16 | 00:03:26,370 --> 00:03:37,050 | chart examples of upside swing projections. And we're gonna be giving you a barque bearish market symmetry, dealing with the equilibrium price swing |
| 17 | 00:03:37,050 --> 00:03:51,120 | fulcrums which points to downside objectives. And we're going to give you examples of downside price projections as well. And yes, homework, we're gonna |
| 18 | 00:03:51,120 --> 00:03:55,080 | be looking at projecting swing targets. So let's get started. |
| 19 | 00:04:00,510 --> 00:04:11,820 | Okay, guys, we're looking at the euro. This is the daily chart on the fiber. And we draw a few things here on bring your attention to, we have this high here, |
| 20 | 00:04:12,270 --> 00:04:24,540 | and this high here. And we're gonna put it right on the highest high this candle. It's roughly 3450. But I want to draw your attention to the bodies of |
| 21 | 00:04:24,540 --> 00:04:35,940 | these candles, and the highs of these. Okay, if we draw our little horizontal line down to that, and we're just gonna move around, there you go. See that? |
| 22 | 00:04:36,240 --> 00:04:48,060 | 3420 3420 is the level essentially that this price was reaching for. Okay, because it's the institutional level we like to follow. Again, it's the figures |
| 23 | 00:04:48,090 --> 00:04:59,970 | 00 levels, the 20s 50s mid figures in the 80s. Okay, so, we have this level here. 3422. Remember that because we're gonna come back to it in a few moments. |
| 24 | 00:05:01,470 --> 00:05:14,340 | But this is what price action was doing prior to the previous release of Episode Four in the series. And we're going to do is we're going to draw a chart into a |
| 25 | 00:05:14,340 --> 00:05:30,840 | four hour basis. Again, that 134 20 level, keep that in mind. Okay, we have the four hour chart here, we have Mark structure breaking, here, breaking this high |
| 26 | 00:05:30,840 --> 00:05:46,440 | here, coming back down, trading into this previous order block. Okay, and we're going to put a few different order blocks on this chart. Okay, price dips and |
| 27 | 00:05:46,740 --> 00:05:58,860 | dips into it rather, right in here. And we also have market structure breaking and confirming even further here with another order blocking here that we will |
| 28 | 00:05:59,670 --> 00:06:18,000 | reference. Okay, so again, we have this block and this block. And I'm gonna just change the color of this one just so it can be slightly different or in this |
| 29 | 00:06:18,000 --> 00:06:32,550 | case, drastically different. So, we have market structure again, shifted bullish here, the low was maintained here, made a higher high here. So this low is |
| 30 | 00:06:32,610 --> 00:06:49,980 | sensitive words, we want to see price anticipate rather price thing above this low. Okay, but let's pour fib across these ranges. Okay, we have the low to high |
| 31 | 00:06:50,700 --> 00:07:00,780 | end price going down to the 79 cent tracing level that 134 76 level. So really the 134 80 real handsome area that one could utilize to get long, the fiber |
| 32 | 00:07:00,780 --> 00:07:11,010 | really likes the East 20s and 50s. In price did obviously give you an opportunity to be a buyer here. But moving forward. Okay, that's where we're at. |
| 33 | 00:07:11,010 --> 00:07:21,240 | Now we're gonna look at examples. Okay, based on the idea what we shared in Part Four. Okay, this was the order block that would have been staring you in the |
| 34 | 00:07:21,240 --> 00:07:34,470 | face at the time of the last release of part four of ictc. Scout sniper field training guide. Price comes right down here is the date that the market I'm |
| 35 | 00:07:34,470 --> 00:07:50,340 | sorry, the video was released, right in here. And this is where if you look at the swing here, here's the price swing. And yeah, that's a nice attrition level |
| 36 | 00:07:50,370 --> 00:08:00,900 | right in here. Okay. And price trades down gives you a nice hammer See that? That's a very nice confirmation in terms of candlestick patterns, okay, just |
| 37 | 00:08:00,900 --> 00:08:08,280 | counseling alone means nothing. But when you have this couple with an order block, it dips into right here, I guess it'd be a little bit more helpful if I |
| 38 | 00:08:09,090 --> 00:08:22,740 | do that over here for you to illustrate what specifically I'm referring to. And also, let's go back to that 134 20 level. Okay, I'm just gonna squeeze this |
| 39 | 00:08:22,740 --> 00:08:43,080 | chart up a little bit. Because we need to reference a level that's outside of the view. Okay, here's that 134 20 level. Alright. And again, we're referencing |
| 40 | 00:08:43,620 --> 00:08:59,850 | this old high. Okay, so let's go back to that chart. And we're going to use our fib from that level up to this price point right there. Okay, |
| 41 | 00:09:00,330 --> 00:09:10,890 | so we have the 62% retracement level coming in there and that 134 74 level. Okay. So by itself between here and here, this is an area where we could |
| 42 | 00:09:10,890 --> 00:09:29,910 | reasonably expect to see price bounce if we're using that range. Okay. And the 134 50 level here. Let's draw our fib from that reference point. |
| 43 | 00:09:35,430 --> 00:09:49,200 | And we have price moving within the optimal trade ins for trading right down to that sweet spot. Market doing it with the mouse price trades up. |
| 44 | 00:09:54,539 --> 00:10:05,699 | Okay, and so we had one optimal trade entry in here. Price rallies up we have another one block right in here, john this kind of borrow this range |
| 45 | 00:10:11,940 --> 00:10:29,580 | of price and dips down into that could be a buyer again. Okay, again, this is for our chart. Okay, so 134 94 130 508 the range in between here is a nice level |
| 46 | 00:10:29,580 --> 00:10:41,610 | to anticipate a possible Buying Opportunity should price get back down into this order block and the fibs price trades right down to that 62% tray. So I'm |
| 47 | 00:10:41,610 --> 00:10:55,410 | reading here, I like these two candles like that it's the nicest tweezers. Price comes straight down again, dips right down to that 135 almost the 135 figure, |
| 48 | 00:10:55,440 --> 00:11:14,670 | big figure and rise up aggressively. And you can see we moved up pretty handsomely because you have a few opportunities in here where it was obvious |
| 49 | 00:11:14,670 --> 00:11:25,740 | that you know, the higher prices that we're calling these are the setups that were available to you. And ultimately price did trade lower here we broke a |
| 50 | 00:11:26,970 --> 00:11:39,360 | significant low and let's look at that for a moment because I was asked in Twitter to give an example of bearish environment where you could use this |
| 51 | 00:11:39,360 --> 00:11:49,500 | information. So we have the bullish candle prior to move down okay inside of this area here, because this big candle institutions were selling into that. |
| 52 | 00:11:50,220 --> 00:12:03,390 | Okay, and market rally I'm sorry, declined. And what you want to do is you want to see price try to trade right back up into that level that waterblock and |
| 53 | 00:12:05,490 --> 00:12:26,250 | let's use price points 136 swing institutional, which is essentially in the area of this candle, we could use 136 figure but it's very close to the level here. |
| 54 | 00:12:26,250 --> 00:12:40,890 | So I want to be outside of the range with the expectation that this this market may in fact rollover. Okay, I'm using the lowest low here, okay, prior to that |
| 55 | 00:12:41,760 --> 00:12:52,260 | 136 20 so the range is between this low and the institutional level which is essentially where this is keying off of. And if price gets up into these levels |
| 56 | 00:12:52,260 --> 00:13:05,340 | here, we could be a seller and you see that happening right there. Okay, notice that we dipped above this level. So we went back inside of the order block here |
| 57 | 00:13:06,270 --> 00:13:12,840 | and we had a nice awful trade entry boom. Okay. If you want to go to the basic ot |
| 58 | 00:13:24,090 --> 00:13:38,070 | can use this swing high and this swing high okay, but I'm gonna show you the highest high down to that low Okay, we got just a equilibrium point. Okay, |
| 59 | 00:13:38,100 --> 00:13:54,180 | what's really isn't beneficial to me ever use this swing I hear he banged up into that 62% retracement level and still inside the order block but notice the |
| 60 | 00:13:54,180 --> 00:14:06,630 | candles were unable to have any of their bodies within that realm. It's only the the wicks and then it was rejected and traded off. And we had obviously another |
| 61 | 00:14:06,630 --> 00:14:10,590 | retracement to get the fib off. |
| 62 | 00:14:16,950 --> 00:14:19,800 | Okay, we have an order block here. |
| 63 | 00:14:25,500 --> 00:14:41,010 | Okay, price slipped lower. It's trades back up into this area or a little bit higher. We could look for a sell and prosecution option in trading trades right |
| 64 | 00:14:41,010 --> 00:14:55,950 | in here. But where's it go right back into an old one Herbalife sent it higher here. And this is where we're trading at now. Okay. So, again, that's the fiber |
| 65 | 00:14:56,490 --> 00:15:15,420 | and if you go back Get out. And we're gonna look at this, this particular order block here, and this occurred on the 30th. So the day of the release of the, the |
| 66 | 00:15:15,930 --> 00:15:29,880 | episode four, okay, this, this broke out sort of moving higher, and price moving back into this waterblock here would be indicative of a buy opportunity. So |
| 67 | 00:15:29,880 --> 00:15:47,580 | we're gonna look at how price dipped into it here on the second of October. And we're going to just take this old thing here and drop it right on here. And it |
| 68 | 00:15:47,580 --> 00:16:03,270 | should when we go down to a five minute chart should drop us into the New York session. Wallah. There we go. So, price drops down into it here. Right there, |
| 69 | 00:16:03,480 --> 00:16:16,350 | and you get that explosive rally up. Do you think institutions were behind that move? Or I think it was Joe public. Clearly, institutions, okay. And obviously, |
| 70 | 00:16:16,350 --> 00:16:34,230 | you can see our price rolled on higher. And the exercises that you were instructed to do, were to utilize these concepts and move forward. And you judge |
| 71 | 00:16:34,290 --> 00:16:45,690 | whether or not they're useful to you, I can assure you, if you spend some time with it, you're going to find that it's hard pressed to find something is more |
| 72 | 00:16:45,690 --> 00:17:04,620 | accurate than what's being shared in this video series because it doesn't exist anywhere else. And if I didn't make money with it, I could sell the concepts and |
| 73 | 00:17:04,620 --> 00:17:17,280 | try to build a service system around it. But I'm not interested in doing it, I make a lot more money actually utilizing it. So it's obviously something that |
| 74 | 00:17:17,280 --> 00:17:29,430 | you can learn on your own. And it's not just this pair, okay. It's not just the cable. Okay, British Pound USD, not the pairs that ICT likes, it's, it's |
| 75 | 00:17:29,430 --> 00:17:38,340 | universal. And because it is universal, and you can use it in other pairs. And we're gonna take a look at that now with two of the weirdest pairs in the ICT |
| 76 | 00:17:38,340 --> 00:17:47,040 | repertoire. But we're gonna be taking a look at the Canadian dollar and Japanese yen. I know you're scratching your head thinking what is that? And then the |
| 77 | 00:17:47,040 --> 00:17:56,490 | Australian Japanese yen. Okay, so take a look at those now. Okay, folks, we're looking at a pair that I never trade. But I just want to give you these examples |
| 78 | 00:17:56,850 --> 00:18:09,600 | to kind of frame the universal application of these concepts. And really communicate that that's not limited just to the fiber and cable, which is mean |
| 79 | 00:18:09,600 --> 00:18:19,710 | predominantly my, my pet pairs in the Forex market. I like to stay within the majors. But if you are just really one of those types of traders, where you just |
| 80 | 00:18:19,710 --> 00:18:30,990 | have to be trading these exotic pairs. Well, I mean, it still works, but I just simply don't trade it myself. Okay, so we're gonna look at this example is the |
| 81 | 00:18:30,990 --> 00:18:42,000 | four hour chart on the Canadian dollar in Japanese yen pair. And I generally don't like to trade in pairs. But you know, again, just to illustrate the the |
| 82 | 00:18:42,000 --> 00:18:53,580 | effectiveness of the tools, I want to draw your attention to the fact that we had this nice rally up, can we have this really, really rapid increase in price |
| 83 | 00:18:54,270 --> 00:19:05,040 | about 500 pips or more, between the low here in August, the high formed late in September. And I want to draw your attention to the fact that we had a few areas |
| 84 | 00:19:05,040 --> 00:19:15,810 | of where price could reasonably expect to see a bounce. You see this consolidation in here, and we had a consolidation here as well. |
| 85 | 00:19:17,100 --> 00:19:25,500 | Notice they're accumulating around old highs and lows here to the left side of your chart. Let me draw your attention specifically to this one right here. |
| 86 | 00:19:25,680 --> 00:19:36,180 | Okay, this is a down candle within this consolidation prior to move out of this consolidation, otherwise, we're going to use in the high that candle as the |
| 87 | 00:19:36,450 --> 00:19:48,990 | beginning point of where a institutional order block may reside. Okay. And there's a few things that we could be utilizing in this setup. We could be |
| 88 | 00:19:49,620 --> 00:20:04,800 | referring to this swing low here, prior to this rally up. Okay, and we're going to use the highest Hi, which is this one right here. Okay, notice we have a 62% |
| 89 | 00:20:05,430 --> 00:20:17,190 | optimal trade entry overlay right here. Okay? See how that's very close to proximity of that 9460, we got 9465, there's only a variance of five pips. |
| 90 | 00:20:17,610 --> 00:20:33,660 | Nothing wrong with that. Okay, so anywhere between the 9465 9460, maybe even 55 level to allow for some slippage. To allow those orders to be pinged, we could |
| 91 | 00:20:33,660 --> 00:20:48,930 | see a nice little bounce in here, okay, and another area where we have consolidation which is in here, okay, prior to the rally up out of that |
| 92 | 00:20:48,930 --> 00:21:01,320 | consolidation, the down candle prior to the move is right in here. Okay, so we're gonna use the high that candle right in there. Okay, and if price trades |
| 93 | 00:21:01,320 --> 00:21:12,660 | the lower in much deeper into that price swing, okay, we could use this low to this high because we're looking at the range between the low here and the high |
| 94 | 00:21:12,660 --> 00:21:24,570 | here much in the same way we did this low to this high. Okay. Notice we have the 79 cent tradesmen level laying right on that same order block. Okay, so if the |
| 95 | 00:21:24,570 --> 00:21:36,870 | optimal trade entry sees price country down into these levels here, that could be a favorable area to be anticipating a bounce as well. Now, again, all these |
| 96 | 00:21:36,870 --> 00:21:49,410 | levels, do our highlight areas where on a smaller time frame, price entry patterns, formulate, okay, or come to fruition. And since we're teaching the |
| 97 | 00:21:49,410 --> 00:21:59,550 | optimal trade entry, which is the retracement inside of a price swing between the 62 and seven that's at tracing level. We would like to see a price pattern |
| 98 | 00:21:59,700 --> 00:22:12,480 | in the same capacity in a fractal nature on a smaller timeframe, ie five minute 15 minute. Okay, so with that said, let's take a look at what transpired. Okay, |
| 99 | 00:22:12,480 --> 00:22:21,570 | the first one we're gonna look at is here. And here. The second one, okay, as price moves along. Notice how price came right down to that level right there. |
| 100 | 00:22:21,990 --> 00:22:38,550 | Okay. And bounced up just in that little bounce right there. We're looking at a potential for price move of 100 pips. Okay, now if you can see that. The middle |
| 101 | 00:22:38,550 --> 00:22:49,740 | number here, it's 100 pips. Nothing wrong with that. Okay, and that's intraday. Again, each one of these candles represents a four hour time period. Okay, price |
| 102 | 00:22:49,740 --> 00:23:00,780 | and variably goes lower trades in the direction of the higher timeframe. retracement. Okay. And as price moves around, comes back up finds some |
| 103 | 00:23:00,780 --> 00:23:13,350 | resistance that same level twice, and it moves down to what level that 9337 Okay, 9337. So we came right back down to this point of origin, where this |
| 104 | 00:23:13,350 --> 00:23:29,130 | initial price move originated. Okay, price comes down, steps through it, pinging any orders that would have been around that 9335 to 9340 level. Okay, and price |
| 105 | 00:23:29,430 --> 00:23:42,600 | proceeds to move up into present market. If you look at where we moved from this level here, up to the high Now again, as the best case scenario, that's 180 plus |
| 106 | 00:23:42,600 --> 00:23:56,250 | pips. Okay, just trading that bounce right here. Now what we're gonna do is we're going to break that down, in zoom in into both of those areas to highlight |
| 107 | 00:23:57,210 --> 00:24:09,720 | where price may have, because we don't know I'm looking at these examples the first time so I may be encountered with an opportunity that wasn't there. Okay. |
| 108 | 00:24:10,380 --> 00:24:12,930 | But for now, we're just gonna take a look at this here. |
| 109 | 00:24:13,950 --> 00:24:22,290 | And when price trades down into these levels here, we want to be looking for an optimal trade entry to key off of on a lower timeframe. Okay, so we're going to |
| 110 | 00:24:22,290 --> 00:24:30,210 | do that now. Okay, we're zoomed in on the Canadian dollar Japanese yen pair to a five minute chart and this is the first of the higher most price levels that |
| 111 | 00:24:30,210 --> 00:24:42,540 | we're looking at on the four hour chart. And this is the day that the last video of this series was recorded and posted on YouTube as of September 30. And we're |
| 112 | 00:24:42,570 --> 00:24:55,920 | moving down inside of this four hour order block, delineating with this blue level in here. Okay. And when we look for specific price patterns, okay, there's |
| 113 | 00:24:55,920 --> 00:25:03,480 | a couple things we got to go back to remember we're in the fifth part of this series but it's not that you're supposed to forget everything we learned and |
| 114 | 00:25:03,480 --> 00:25:13,440 | covered in the previous videos, we're going to now go back throughout the first four videos and pull out some of the gems that you should have been gleaning and |
| 115 | 00:25:13,440 --> 00:25:23,070 | keeping track of on your little notepad. And hopefully you can start seeing these things start synergizing. Okay, when we see an order block like this, |
| 116 | 00:25:23,160 --> 00:25:33,330 | okay, much like a higher level timeframe, key support resistance level, we are to calibrate them. Okay, this level here at 9460s already calibrated to a small |
| 117 | 00:25:33,330 --> 00:25:45,990 | round number. But now think in terms of big round numbers. Okay, we have the 9480 level, institutional up here. Okay, so that's one level that we considered. |
| 118 | 00:25:46,260 --> 00:25:59,820 | Okay, what we're gonna do is we're gonna draw a line on that. Okay, so that may be one of interest. And we have one here, this just a little bit outside of the |
| 119 | 00:25:59,820 --> 00:26:10,080 | candle, but you still have to consider because of static alone, okay? Just the normal volatility in the marketplace. If it goes to 9460. Okay, and your block |
| 120 | 00:26:10,080 --> 00:26:22,320 | dips below that, chances are, it could utilize the 9450 level, the big figure halfway part nords. It's a mid figure. So what we're going to do is we're going |
| 121 | 00:26:22,320 --> 00:26:40,080 | to have our chart, and I'm going to highlight that level here. Okay, now, if you refer back to the previous videos, okay, you're gonna remember this term, |
| 122 | 00:26:40,500 --> 00:26:51,930 | hidden, optimal trade entry. Okay? Remember, support and resistance, if it's good, it won't go down to the level twice, okay. In other words, it will be |
| 123 | 00:26:51,930 --> 00:27:02,310 | accumulated. And then it won't go back and dip down further, that's the premise between optimal trade entry. Well, sometimes we don't necessarily have a |
| 124 | 00:27:02,970 --> 00:27:13,890 | specific price action onwards, there's a gap between the 50 level, and we're prices trading in here. Okay? Now, remember, gaps don't always have to be |
| 125 | 00:27:13,890 --> 00:27:23,460 | filled. And that notion is one of the central tenants to this pattern. And this is one of the applications you can utilize for. So we're going to do is we're |
| 126 | 00:27:23,460 --> 00:27:34,050 | going to have our Fibonacci tool, okay. And our point or reference here is this is the highest high at the time, okay, going into this order block, and we're |
| 127 | 00:27:34,050 --> 00:27:45,180 | going to reference this 9450 level, okay? And you pull this up, and what you're looking for is you're going to drop it right on the highest high, like that. So |
| 128 | 00:27:45,180 --> 00:27:55,080 | you anchored your 100 level, to the 9450, mid figure point, okay. And that's going to give you a range between the mid figure and the highest high in here. |
| 129 | 00:27:55,590 --> 00:28:06,000 | Okay, now, if price is accumulating in here, now, you are not going to see this silly Fibonacci tool application anywhere else. This is completely and utterly |
| 130 | 00:28:06,030 --> 00:28:17,940 | unique to me. Okay, now, I catch a lot of flack for this thing but also catch a whole lot of incredible entry points. And I trades that support it and results |
| 131 | 00:28:17,940 --> 00:28:27,210 | that reflect it So bottom line is is it's going to take a knack for you to learn to trust this Okay, in the only way you do it, is if you play around with it, |
| 132 | 00:28:27,240 --> 00:28:36,810 | and you do your own research on this pattern, okay? But it's still an optimal trade entry. It's a retracement within a range. Now its price is not traded down |
| 133 | 00:28:36,810 --> 00:28:49,350 | to this point yet. Okay? But because there's psychological barriers okay in price we have to consider it okay and the way I use it is like this, okay. So if |
| 134 | 00:28:49,350 --> 00:29:01,830 | price trades down to the 9474 level 9469 or 9463 that would constitute an optimal trade entry. Okay, within the order block with the understanding and |
| 135 | 00:29:01,830 --> 00:29:04,710 | premise that it may not get down to 9460 |
| 136 | 00:29:05,430 --> 00:29:15,750 | or to 9450 Okay, or very well may just trade through and spike even lower and not even give me a pattern at all. Okay, but we have considered this is a range |
| 137 | 00:29:16,080 --> 00:29:28,650 | even though price has not traded to it as of yet or if at all. We still consider that because it's a probable range within where price may have a bounce. Okay. |
| 138 | 00:29:29,220 --> 00:29:40,560 | And I'll give you more examples in this series, but for now, let's just work with this one. And as price moves down into this level, okay, price goes just a |
| 139 | 00:29:40,560 --> 00:29:59,100 | little bit through the 79% retracement level doesn't get to the 9460 here. Price begins to rally off. It takes off. Okay, and there is approximately 100 pips in |
| 140 | 00:29:59,100 --> 00:30:12,600 | price swing rating. Here, okay, so you're finding the range, where price may produce a move of sorts, but it's going to elude you, if you're just looking for |
| 141 | 00:30:12,600 --> 00:30:22,140 | simple things like this, like, here's a low to this high. If price retraces down to a range between this low and this high, that's basic price retracements. This |
| 142 | 00:30:22,140 --> 00:30:35,370 | is higher class, different level type Fibonacci stuff. And again, I didn't learn it anywhere, except for in the charts, just you just referencing the mid levels, |
| 143 | 00:30:35,490 --> 00:30:44,400 | the 50 levels, the 100 levels, okay, it's applicable with the institutional levels as well. But when it's traded, like this application, I use really just |
| 144 | 00:30:44,400 --> 00:30:53,580 | the full figure and mid figure levels, okay, because if the order block is like this, and it's round that 50 level, I'm going to be hunting, a setup similar to |
| 145 | 00:30:53,580 --> 00:31:05,730 | this. Okay? This is, again, a pair, I don't trade. But you can still utilize this, this application, any pair of your choice, but again, because I know this |
| 146 | 00:31:05,730 --> 00:31:17,760 | is probably one of our a lot of your heads. And I don't mean to be a braggart. But we're gonna go through the process one more time and explain what again, I'm |
| 147 | 00:31:17,760 --> 00:31:29,790 | doing. Price is trading around into an area where an order block on a higher level timeframe suggests that we may see a bounce, okay? We are trading near a |
| 148 | 00:31:29,790 --> 00:31:43,110 | mid figure level, okay. And the range on the for our order block suggests that price may dip down into at least that 9455 level and below it. Now, if it's |
| 149 | 00:31:43,110 --> 00:31:52,830 | going to go there, it very well may go to the 9450 level, it doesn't have to. Okay, in fact, I'd rather see it not doing okay. And that's, that's what this |
| 150 | 00:31:52,860 --> 00:32:02,340 | pattern hinges on. Okay. So what we do is, again, once we anchor an area where we can clearly identify, you could do a horizontal line here, I just use this |
| 151 | 00:32:02,550 --> 00:32:14,460 | because it's cleaner compared to the two lines we already had on the chart. But you just take your crosshairs on the little marker here. You anchor it there, |
| 152 | 00:32:14,700 --> 00:32:28,350 | you pull up to the highest high traded during that consolidation. Okay. And as price price trades down into it, it'll reach into this range. Okay. And I know |
| 153 | 00:32:28,350 --> 00:32:37,350 | it sounds like Voodoo. Okay, but I'm gonna tell you right now, I've blown people away with this pattern over and over and over again. And once you identify how |
| 154 | 00:32:37,350 --> 00:32:47,310 | to use it, it's, it's crazy. It's It's insane how very accurate is. And it's nowhere in any books, it's nowhere in any video courses. I wish I could just |
| 155 | 00:32:47,310 --> 00:32:55,200 | simply say, hey, look, here's another reference source, you can go to and study it, but it's really unique to ICT. So, again, it's one of those things where, |
| 156 | 00:32:55,230 --> 00:33:03,000 | you know, whether you like it or don't like it, you know, the bottom line is, is I use it, it works. It's It's It's a pattern that I I trade all the time, it's |
| 157 | 00:33:03,000 --> 00:33:15,060 | again, it's the hidden optimal trade entry. I mean, it's based upon using support resistance levels as your anchor points. Okay, not necessarily a key |
| 158 | 00:33:15,300 --> 00:33:26,940 | swing high or low. an anchor point referenced around price levels itself at being the mid figure in this case, or a big figure. Okay. So now let's move on |
| 159 | 00:33:26,940 --> 00:33:43,020 | and take a look at Okay, we are at the second of the four hour winter block potential areas on that Canadian Japanese yen pair. Okay, and we have this range |
| 160 | 00:33:43,020 --> 00:33:51,510 | here we have the price bouncing off it initially rallying up and then starting to come back down. Now, again, you could do a few things here, you could use |
| 161 | 00:33:51,510 --> 00:34:02,640 | your basic optimal trade entry, which is pulling a low to a high and if price trades down to these levels in here, okay. 9350 is a good area in here because |
| 162 | 00:34:02,640 --> 00:34:04,800 | it's around that big, sorry, mid figure level. |
| 163 | 00:34:05,400 --> 00:34:22,650 | Okay, but draw your attention back to that for our order block. Okay. This this level here is 9337. Okay. 9337. Where is that in terms of institutional levels |
| 164 | 00:34:22,710 --> 00:34:34,350 | and big figures and mid figures? Okay. Notice that we have the mid figure up here. Okay. So if I use that reference point, |
| 165 | 00:34:40,440 --> 00:34:51,510 | okay, we have that. Now, if you draw the fib with that point, like we just did on the previous example. This is what you arrive at. Okay. Let me get that |
| 166 | 00:34:51,840 --> 00:35:06,060 | belongs. Okay. So, we're finding the range between the mid figure nine 350 and this high okay. He had 9366 and nine 359, which is essentially 9360. Round |
| 167 | 00:35:06,060 --> 00:35:20,880 | number. Okay. Which is it's possible it means it's possible, you may see a little bounce in here. Okay. But is it near the order block? No. Okay. So I |
| 168 | 00:35:20,880 --> 00:35:37,260 | would reference really, let's take this fib off. Okay, you can go down to the 9320 level. Okay? Because there's your institutional level, now we're going to |
| 169 | 00:35:37,260 --> 00:35:47,730 | use an application of the optimal trade entry. Based on the psychological level or institutional I we like to use the 20 level. Okay, hit normal trade entry. |
| 170 | 00:35:47,730 --> 00:35:55,620 | Again, using the range between that level again, we don't know if it's going to trade down to that level. In fact, we're hoping that it doesn't. But we have a |
| 171 | 00:35:55,620 --> 00:36:06,300 | range of so nice, that tracing level comes in at 9336 with a range 293 48. So anywhere in here, once we trade down to that level, again, this was this is |
| 172 | 00:36:06,300 --> 00:36:17,550 | fairly handsome. I mean, there was an opportunity in here to be a buyer. Okay, between 9348 and 9335. Okay, if price trades right down there, that would |
| 173 | 00:36:17,550 --> 00:36:29,490 | constitute enough for me to take a buy signal. Okay. Price trades down. deviates. So now it's at tracing level, just a little bit in here. Okay, and |
| 174 | 00:36:29,490 --> 00:36:30,570 | rallies on up. |
| 175 | 00:36:35,610 --> 00:36:47,730 | Finally breaks through the old market structure high in here. You can see it trades on up to our previous levels we had noted on the earlier example, and |
| 176 | 00:36:47,730 --> 00:36:58,170 | then finally through it, and in today, it's monkeying around finding support. Let's go back to this point here. Okay, cuz I want to show you how, even if you |
| 177 | 00:36:58,170 --> 00:37:11,550 | were not using the institutional levels, okay, and you were going to reference, say, the big figure. In this example, I'm going to pull it down to the 93 |
| 178 | 00:37:11,550 --> 00:37:22,410 | figure. Okay, and we're going to grab that 100 level, and we're going to anchor it right to that. Now, what we're doing is, again, we're looking at the range |
| 179 | 00:37:22,410 --> 00:37:31,710 | between the highest high here as it's dipping down in that order block, we don't expect it to get to nine 300. Because the order blocks up here, okay. But we |
| 180 | 00:37:31,710 --> 00:37:40,950 | also have price coming right down into and it's a little difficult to see, let me take this horizontal line off. We already know what that is anyway, so taking |
| 181 | 00:37:40,950 --> 00:37:52,710 | an office should not be far off. Confusion for you, price comes right into that 62% retracement level, okay, and turns on a dime. And you get that same turns at |
| 182 | 00:37:52,740 --> 00:38:04,050 | either or would have been applicable for you here. And it would have give you a dynamite entry point where you've really zeroed in much in the same way a sniper |
| 183 | 00:38:04,050 --> 00:38:15,630 | does with his scope, he zooms in and gets the kill shot here. Now, again, assuming that you don't have this under your belt yet, okay? assume you don't |
| 184 | 00:38:15,630 --> 00:38:22,350 | have that. And it's, it's not thing that you need to be ashamed of, if you don't have it yet, because it's going to take a little time for you to trust this. |
| 185 | 00:38:22,710 --> 00:38:33,510 | Okay. So again, you're gonna have to do this on a daily basis, go through your charts every single day, doing the five minute chart, 15 minute chart, an hourly |
| 186 | 00:38:33,510 --> 00:38:44,070 | chart, and look at how price is trading around these big figures, institutional levels, okay, and you're looking for price within that range from those levels, |
| 187 | 00:38:44,310 --> 00:38:59,790 | to where prices traded at at highest high and lowest low, and the same examples that we just showed here. Now, let's look at how price could be utilized. Skip |
| 188 | 00:38:59,790 --> 00:39:20,880 | this fib off. I'm going to show you how you can use it here and sync capacity. We're gonna highlight the 50 level here. Let's put that everywhere. I can see |
| 189 | 00:39:20,880 --> 00:39:33,270 | it. Can't read it here. And here's how we have price rally up down here. If you take your fib again, anchor it right on that level, you're going to pull it up |
| 190 | 00:39:33,270 --> 00:39:43,620 | to the highest high here. If price retraces down into that 79 to 62% retracement level right in here. Because we're moving out of the order block. This would be |
| 191 | 00:39:43,620 --> 00:39:53,400 | an opportunity for you to get in sync with the market move and catch you the underlying trend of the marketplace using that same premise. And the idea is we |
| 192 | 00:39:53,400 --> 00:40:05,940 | moved away from the 50 year, okay, and we made a high Okay, we're above that big Mid figure level price should not come back down to that level. But we have a |
| 193 | 00:40:05,940 --> 00:40:15,360 | range between the 50 and the highest high here as price dips down into that. Right there's an opportunity to be a buyer and get in sync with the overall |
| 194 | 00:40:15,630 --> 00:40:34,740 | existing trend. Okay See that? Okay, we're looking at the Australian dollar and Japanese yen continuing with the theme of looking at pairs that are outside of |
| 195 | 00:40:34,740 --> 00:40:46,590 | the ICT normal spectrum, okay and considered an exotic pair if you will. This trade and here is one I took on a Live account you can see the results of that |
| 196 | 00:40:46,590 --> 00:41:01,290 | on Twitter and you can find the link on the YouTube channel where it shows the results of it. And this price swing here I tweeted asking everyone that were |
| 197 | 00:41:02,010 --> 00:41:20,040 | interested that if they would study this you could see where we were moving back into anticipated level of for our not sorry for our potential order block |
| 198 | 00:41:20,550 --> 00:41:34,830 | institutional. So as price moved lower shady right into that area right here. Okay. Now we have this price swing here and retracement. So if you take the |
| 199 | 00:41:37,020 --> 00:41:50,250 | range from here this low to this high Z price right here to 7/9 retracement level. And we dipped right inside that existing order blocks we have a range |
| 200 | 00:41:50,250 --> 00:42:01,860 | between 9123 and 9127. And here's a little difficult to see. I'm moving a little bit you can see that's the number was at so we're talking about an area in terms |
| 201 | 00:42:01,860 --> 00:42:13,830 | of four pips. Okay, variance. So this point here and here. It's about five pips difference. So buying really at the 79 cent tracing level plus the spread. Okay, |
| 202 | 00:42:13,860 --> 00:42:30,930 | we are still within very handsome. we're only talking about 14 pips. Okay, so your trade should be allowing you at least 14 pips, you know, movement, but |
| 203 | 00:42:31,140 --> 00:42:42,000 | that's for another video we're going to get to in terms of stop losses and such but catching along in here. Okay, price rallies on up, starts to move higher. |
| 204 | 00:42:43,500 --> 00:43:05,370 | Okay, and then we have a nother area. Okay, just keep a reference point at this point here. Right there. Probably make it bigger. All right. So this is our |
| 205 | 00:43:05,370 --> 00:43:15,330 | reference point for the entry. Okay, well, longer term, price swing. So moving, moving higher, we have another order block, okay, because we have a |
| 206 | 00:43:15,330 --> 00:43:31,230 | consolidation in here. Okay, we have this candle right there, this whole candle. So we're gonna look at that area. Okay, and we're gonna reference this little |
| 207 | 00:43:32,280 --> 00:43:44,490 | segment in price. Okay, and we're gonna use the high end of it as our beginning point, and we're not going to buffer the lower end, but we're going to be very |
| 208 | 00:43:44,490 --> 00:43:57,960 | sensitive at 9158, which is essentially what level guys 9160. Okay. So, again, price maneuvers around a little bit, trades in continuously higher trades right |
| 209 | 00:43:57,960 --> 00:44:07,350 | down into that level. Okay, see, that slams right down into that. Now traders watching this that are not familiar with price action and institutional order |
| 210 | 00:44:07,350 --> 00:44:16,560 | flow and how prices move within specific defined ranges, they will be pretty much scared out of their mind, he would never even consider looking at that as a |
| 211 | 00:44:16,560 --> 00:44:27,000 | buying opportunity. Okay, but let's go back over and look at some central tenants that we use in our concepts. We have a range low here to here. Okay, so |
| 212 | 00:44:27,000 --> 00:44:38,880 | we're trading with a fulfilled range, premise in mind. Okay, so we have an area of 9159 with a 9158. Okay, so we have one PIP variance. Do you think that's a |
| 213 | 00:44:38,880 --> 00:44:48,090 | confluence of support resistance ideas suggested right there. Sure. Okay. So we could be a buyer right in here. Okay, at that level plus the spread in terms of |
| 214 | 00:44:48,090 --> 00:45:03,840 | you want to be a using a pending order for the limit. But let's reference. Let's get that off. We don't need it. Let's reference our previous example. Okay, |
| 215 | 00:45:03,840 --> 00:45:17,820 | where we used the support resistance idea and Fibonacci concepts for hidden optimal trade entry. Okay, so we have price rallying up here. Okay. And we have |
| 216 | 00:45:17,820 --> 00:45:29,310 | the 50 level, which is down here. And we have what institutional level below that to 20. Okay, so we're going to look at two reference points there. So we're |
| 217 | 00:45:29,310 --> 00:45:40,140 | just going to be building upon our understanding of how to find the range. Okay, we have 9120 |
| 218 | 00:45:46,080 --> 00:46:00,540 | and 9150. Okay, so we're gonna use our fib. We're gonna start with the lowest one here, just to give you an idea to the highest high prior to it. Okay, and |
| 219 | 00:46:00,540 --> 00:46:11,010 | you can see how the 62% retracement level calls for 9155 Okay, so if you're buying with three pips, I'm sorry, not three pips at a four PIP spread on the |
| 220 | 00:46:11,040 --> 00:46:29,580 | Aussie yen. You can get long in here. If you were utilizing the 9150 level, okay, are calling for 9160 threes are sitting on centration level, and your |
| 221 | 00:46:29,580 --> 00:46:40,830 | sweet spot comes in in 9168 in here, okay, so anywhere in here would be a nice buy. And assume for a moment you use that one. And you're just looking for the |
| 222 | 00:46:40,830 --> 00:46:53,280 | sweet spot at your actual entry point. To this old low we're looking at 23 pips. Okay 23 pips risk with the understanding and expectation, that price should not |
| 223 | 00:46:53,610 --> 00:47:02,010 | go down to that point. If it does, it's probably not a good trade, you won't be confused if it does and stops you out, though. Okay to understand that, if price |
| 224 | 00:47:02,040 --> 00:47:12,090 | goes to this low, the overall market structure that is implied here is being bullish, isn't so bullish, and you'll probably see weaker prices. But in this |
| 225 | 00:47:12,090 --> 00:47:22,050 | case, we're we're building a premise that this is an area of expected buying opportunity with the actual release in price here, okay. Again, public traders |
| 226 | 00:47:22,050 --> 00:47:31,950 | don't make price move like this, okay, designed to be done by institutional traders that are going to drive it up like that. Price monkeys around. And |
| 227 | 00:47:31,950 --> 00:47:43,950 | again, this is a 15 minute time frame, so you can utilize a smaller five minute basis. Take this off, okay. So you can have price bouncing here. If you drill |
| 228 | 00:47:43,950 --> 00:47:52,140 | down to a five minute chart, you can actually see that same event unfolding right here. Okay, within optimal trade entry, which we're not going to go down |
| 229 | 00:47:52,140 --> 00:48:05,280 | to a five minute chart because, again, these videos are getting larger. By the time I'm done, I end up with a huge you can see it goes right down to that |
| 230 | 00:48:06,810 --> 00:48:08,040 | satellites and treatment level. |
| 231 | 00:48:15,179 --> 00:48:30,599 | Okay. Now Now let's zoom in, I want to I want to give you that as an example, right in here. This is that same little consolidation we just worked within. |
| 232 | 00:48:33,029 --> 00:48:51,359 | Let's use our reference point 9150 again, Okay, number two, this is an unfulfilled range application. Okay, so we're have 250 level. Put our fib on |
| 233 | 00:48:51,359 --> 00:49:03,089 | that anchor it pulled up to highest high that we're seeing a retracement within. Okay, and then as price comes back down 9160 level plus the four pips spread, |
| 234 | 00:49:03,629 --> 00:49:16,349 | that would be an area to be a buyer, which would be up in here. And you can see price did in fact, move on from there. Again, just giving you additional |
| 235 | 00:49:16,679 --> 00:49:26,549 | opportunities to see this effect. And again, this is a smaller little look at a five minute chart you can actually see the order flow and what are blocking |
| 236 | 00:49:26,549 --> 00:49:35,669 | here, but this candle prior to move up. It moved back into the thinking here prior to moving higher, much the same way did here. We have this bearish candle |
| 237 | 00:49:35,669 --> 00:49:46,409 | prior to move out, got into a five minute time frame, you can see our price moved back into that order block here and moved higher. Okay, and zoom out. |
| 238 | 00:49:48,059 --> 00:49:56,699 | Let's go back to our reference points of entry. We have this one here. And this one here. |
| 239 | 00:50:01,860 --> 00:50:07,560 | Okay, and now we have another opportunity to see |
| 240 | 00:50:15,299 --> 00:50:32,669 | another trade entry here, using this range. Let's move this over seeing See? Clear? Okay, we have the low here, trading back down. Now as price moves off |
| 241 | 00:50:32,669 --> 00:50:43,079 | that, that larger order block level price is starting to retrace, would we expect it to come back down to there? Obviously, in an ideal world, we don't |
| 242 | 00:50:43,079 --> 00:51:07,079 | want to see that happening. So what do we have? We have defined range, the range being this high noted here and the low right there 9158. Sorry, 9156 using the |
| 243 | 00:51:07,079 --> 00:51:15,509 | actual candle low. So we have a range between these two price points as price rallies away from that order block level, and then starts to retrace. We don't |
| 244 | 00:51:15,509 --> 00:51:24,689 | want to really see it come back down. And it can it sure can. Okay. But ideally, you want to be hunting a price pattern in here to get long, with that premise in |
| 245 | 00:51:24,689 --> 00:51:41,129 | mind looking for higher prices to ensue. And you see that happening here. Okay. Again, same premise in mind. We have higher prices expected, we have an |
| 246 | 00:51:41,129 --> 00:51:57,839 | understanding of institutional order flow. We're going to hunt to opportunities in here. We have this level right here 9211, prices rallying up starts to |
| 247 | 00:51:57,839 --> 00:52:07,739 | retrace. Okay, you're still overall bullish. So what are you gonna be looking for retracing back down to 62 to set an accentuation level, you get that right |
| 248 | 00:52:07,739 --> 00:52:26,399 | here. Okay. And if you use our unfulfilled range concepts, here, we expect price not to come back down to that institutional level price trades, right to what |
| 249 | 00:52:26,399 --> 00:52:39,629 | level the sweet spot boom and rallies up. So both are ideally suggesting that's a buy area in between that 9245 9240 level. So add your spread to it and that'd |
| 250 | 00:52:39,629 --> 00:52:46,949 | be an entry point. And then price begins to move on up. Even even this |
| 251 | 00:52:53,849 --> 00:53:04,949 | this example here, we're gonna look at here in a second. Cut this stuff off the chart, we have another small even again, this is a 15 minute chart but if you go |
| 252 | 00:53:04,949 --> 00:53:17,399 | down to a five minute chart, you'll see this as another order block. Okay, so as price moves down into that level here let's use our |
| 253 | 00:53:27,030 --> 00:53:46,110 | here's our low and our range high. Okay, so essentially 100 PIP move between the two points. For us the low to high price comes right down into that 62% |
| 254 | 00:53:46,110 --> 00:54:00,090 | retracement level and what does it do? returns back higher. Now ultimately, going into the weekend, we had a rather large weekend gap. But in here, just in |
| 255 | 00:54:00,090 --> 00:54:14,340 | here alone on Friday. I'm talking about the Friday prior to this recording. You have a an opportunity to see a range in terms of pips of 54 pips, comfortably |
| 256 | 00:54:14,340 --> 00:54:21,750 | pulling out obviously 25 to 30 pips is not without the realm of possibility. |
| 257 | 00:54:27,840 --> 00:54:44,670 | Okay, so you can see just in one pair, and it's got a 30 minute chart. You can see do overall price action and actually goes down to a 15 minute chart will be |
| 258 | 00:54:44,670 --> 00:55:01,440 | a little bit cleaner. There's the overall price structure what's happened. Okay. And there was Friday's weekly high and here's Monday's low on the week two, they |
| 259 | 00:55:01,440 --> 00:55:13,170 | given you opportunities to trade. And because this is a yen pair, and it's an Aussie yen pair it, it really will be looking to make its higher lows during the |
| 260 | 00:55:13,200 --> 00:55:27,180 | asian session. Okay. And if you look at the asian session one, this week, we have this area here where price was making its low for Tuesday. And during the |
| 261 | 00:55:27,180 --> 00:55:40,710 | asian session, the low on Wednesday was formed during the asian session. And the low was formed. One this this particular day comes in at the agent session as |
| 262 | 00:55:40,710 --> 00:55:51,060 | well. Okay, so against understanding your, your pair personalities and what characteristics go along with those particular pairs and what what that animal |
| 263 | 00:55:51,060 --> 00:56:02,760 | does during the trading 24 hour period that we we like to call the Forex day. Because these are countries that are operating in their business around those |
| 264 | 00:56:02,760 --> 00:56:13,590 | times of the day, at the beginning of their financial day. So it's important that they see sitios your particular market moves and obviously signaling the |
| 265 | 00:56:14,640 --> 00:56:25,170 | significant highs and lows is, is one of the central characteristics to those pairs. much in the same way we see the British pound and euro form, it's daily, |
| 266 | 00:56:25,170 --> 00:56:34,500 | higher low on daily range during the London session, because that's generally when they're coming online. Okay. So hopefully these examples have been useful |
| 267 | 00:56:34,500 --> 00:56:44,280 | to you go over them, study them, and then obviously use the same premise, and studying your own charts on a live basis. And you, I promise, you put two, three |
| 268 | 00:56:44,280 --> 00:56:53,790 | months into starch chart study using these concepts, you're going to start seeing as a whole different world of price action, it's available to you. And |
| 269 | 00:56:53,790 --> 00:57:02,460 | that's really found nowhere else. It's an ICT exclusive. And I hope it's been a blessing to you as it was for almost two decades for me. |
| 270 | 00:57:12,090 --> 00:57:23,610 | Alright, guys, every single forex trader out there wants to see their trade become profitable. But before that can happen, you need to understand what it |
| 271 | 00:57:23,610 --> 00:57:34,380 | requires of you, as a trader, to learn to anticipate price moves, it's one thing to expect to make money. And it's all together something else to expect to be |
| 272 | 00:57:35,070 --> 00:57:45,420 | accurate with your analysis. And one of the hardest things and I mean this sincerely, one of the hardest things for me as a trader, is the profit taking, |
| 273 | 00:57:45,750 --> 00:57:58,980 | okay, because I've been doing this for almost 20 years. And my analysis concepts are very, very strong. But the human element behind them, sometimes I want to |
| 274 | 00:57:59,010 --> 00:58:08,580 | over trade the tools, because either a hunch or a gut feeling. And it's something that I have to suppress as a trader, because sometimes I think I'm |
| 275 | 00:58:08,580 --> 00:58:21,030 | smarter than my tools. And that's where my ego comes in. Okay, so I've had to really, you know, hammer out a, an application of when do I take profits. Now, |
| 276 | 00:58:21,510 --> 00:58:31,230 | early on, much like every other trader, if you go into this business, and you encounter immediate profitability, whether it be short term or intermediate term |
| 277 | 00:58:31,230 --> 00:58:40,500 | or long term success in terms of duration, that's not the point. The point is, is if you go into and you start making money, the premise is that you're always |
| 278 | 00:58:40,500 --> 00:58:49,710 | going to be making money and your trades are therefore going to be profitable. And especially if you get these extrapolated profits, okay, really big targets. |
| 279 | 00:58:50,370 --> 00:58:58,650 | It kind of lulls you into thinking that that's the norm. Okay. And what will happen is, as many times if your tool suggests it's going to be 80 PIP run up, |
| 280 | 00:59:00,300 --> 00:59:08,610 | you're going to hold for 80 pips, or maybe even at two or three, trying to squeeze that last bit of juice out of that lemon. I have done that many, many |
| 281 | 00:59:08,640 --> 00:59:18,090 | times. And I've watched my really good trades turn into mediocre trades, to breakeven trades and beginning of trading I love I've actually watched them go |
| 282 | 00:59:18,090 --> 00:59:29,610 | into net losses, severely net losses, okay, because, much like anyone else, I was prone to the same pitfalls everyone else is encountered in trading. And I |
| 283 | 00:59:29,610 --> 00:59:37,860 | didn't have any kind of mentors until Larry Williams. So I kind of like fumbled around in the markets until, you know, I got with someone that knew a little bit |
| 284 | 00:59:37,860 --> 00:59:46,980 | of technical analysis. I think everyone would agree that technical analysis and Larry Williams go hand in hand. So that was like my foundation. And I realized |
| 285 | 00:59:46,980 --> 00:59:56,790 | that, you know, I could be right on a lot of the market moves, but I would be wrong at my profitable exits because I would be greedy and hold on to the |
| 286 | 00:59:56,790 --> 01:00:13,410 | absolute highest point and it My goal in this episode is really to communicate this as best I possibly can. You do not need every piece of that move. Okay? You |
| 287 | 01:00:13,410 --> 01:00:26,160 | don't need every PIP in every swing. You just need pips. Okay? And I don't want to really define it for anyone, but you just need pips. Okay, and I'll give you |
| 288 | 01:00:26,160 --> 01:00:36,300 | some ideas on how to frame that. What is your objective? Well, it depends on what type of trader you're going to be. This series is designed for getting that |
| 289 | 01:00:36,300 --> 01:00:48,090 | one shot, one kill for the week, okay, I means you're literally looking for an really cheery opportunity to be trading one time for the entire week. Okay? |
| 290 | 01:00:48,390 --> 01:00:55,980 | Because if you can't do that, you're not gonna be able to handle yourself trading every single day as a day trader, because you're gonna be doing things |
| 291 | 01:00:56,100 --> 01:01:03,360 | before you should, you're gonna be buying more selling more than you should, you're gonna be doing everything wrong, okay, because you haven't developed the |
| 292 | 01:01:03,360 --> 01:01:13,200 | discipline that's necessary for you to be able to adhere to a set of rules. And yes, there are rules of engagement that you have to have as a trader. Okay, this |
| 293 | 01:01:13,200 --> 01:01:24,240 | whole trading series is themed around the military aspect. And I purposely chose that because that's what I had to do to myself, because it's one thing for me to |
| 294 | 01:01:24,270 --> 01:01:34,980 | make these videos and the majority of everyone out there thinks that I'm this cold, calculated market wizard, okay. And I never make mistakes. I make |
| 295 | 01:01:34,980 --> 01:01:46,140 | mistakes. Okay. My presentations are geared to you, as a learning tool to avoid many of the things that I did early in my trading, and some of the things I |
| 296 | 01:01:46,140 --> 01:01:59,400 | still have to deal with on a daily basis as a trader, and that one particular thing is profits. If you do not have a predetermined exit point, before you even |
| 297 | 01:01:59,400 --> 01:02:04,530 | get in the trade, I promise you, you will be plagued with this problem. |
| 298 | 01:02:04,860 --> 01:02:11,250 | And it may sound like a good problem to have when to get out with profits. I'm gonna tell you, if you haven't been trading long those of you have been trading |
| 299 | 01:02:11,250 --> 01:02:20,850 | for a while know exactly what I'm talking about. Your winning trades if you exit them, and they continue to move 60 7200 pips more than you got out at Are you |
| 300 | 01:02:20,850 --> 01:02:30,690 | right? Chances are, you're going to define your trade as not, right? profitable. Yes, but you're not right. So you're going to wrestle with that idea. Okay, |
| 301 | 01:02:30,690 --> 01:02:38,940 | you're going to argue with it, thinking, Hey, you know, I didn't do something right. I could have made a lot more pips. Instead of saying, You know what, I |
| 302 | 01:02:38,940 --> 01:02:49,350 | saw an opportunity, I executed, I followed my plan, and I exited at a predetermined level, there should be no shame in that. Zero shaming. But many of |
| 303 | 01:02:49,350 --> 01:02:56,640 | you will still arm wrestle yourself, beat yourself up saying, Man, I wish I would have held on that that would have paid for the 16 losing trades I had last |
| 304 | 01:02:56,640 --> 01:03:08,220 | few months. But you have to be disciplined, you absolutely have to have that. In your repertoire. In your game plan in your trading plan, you have to have it. |
| 305 | 01:03:08,670 --> 01:03:19,140 | Because if you don't have it, I can tell you as almost a two decade veteran and trading that is one of the most hardest things for traders to overcome. I can be |
| 306 | 01:03:19,140 --> 01:03:33,810 | wildly profitable, but I don't have it right every single time. And it's the times that I hold on for that 75 PIP move when I'm already banked. 60 pips in |
| 307 | 01:03:33,990 --> 01:03:44,190 | the first half of the trade, and I'm holding out for 75 for my second target or my final collapsing of the open position. I may be seeing maybe the spread just |
| 308 | 01:03:44,190 --> 01:03:50,970 | before it gets me out. And I'll hold on to that thinking that I'm going to get that trade, then it comes back and knocks me out, you know, at 60 pips for the |
| 309 | 01:03:50,970 --> 01:03:59,550 | remaining portion. There's nothing wrong with that. But internally, I wrestle with that thinking I should have just collapsed it when I had 60 pips together, |
| 310 | 01:03:59,550 --> 01:04:06,000 | and now I'm armwrestling myself internally, you know, I'll be driving on the road, going to the store going to the movies, or you can go into a red box and |
| 311 | 01:04:06,000 --> 01:04:18,120 | get a DVD for the night. And these things plague me, okay, because I have OCD, I completely understand obsessive compulsive disorder I live in, okay, so if you |
| 312 | 01:04:18,120 --> 01:04:28,140 | don't have that, if you trade long enough, you might develop it, okay? Because what will happen is, is you're going to overanalyze everything you do, and |
| 313 | 01:04:28,140 --> 01:04:37,980 | that's a good thing as a learning tool. Okay, but once you really adopt an idea what you should be doing as a trading plan. You don't really want to overanalyze |
| 314 | 01:04:37,980 --> 01:04:46,050 | it, you want to stay within those parameters. Okay. And that starts with number one, having an idea of where you're going to get out at when the trades moved in |
| 315 | 01:04:46,050 --> 01:04:57,090 | your favor. Okay. That's not a limitation. Do not view exiting a trade at 60 pips profit pre determined before you even put the trade on, and it moves 90 |
| 316 | 01:04:57,090 --> 01:05:07,260 | pips or 100 pips beyond that, okay. Do not view do that as weakness, okay? Do not, because I'm gonna tell you right now, if you do that every single week, or |
| 317 | 01:05:07,260 --> 01:05:18,750 | three times a month, you are in the Upper 5% of forex traders, because 90% of them don't make money, they aren't consistent, they can't even find the right |
| 318 | 01:05:18,750 --> 01:05:24,900 | time to get into trades. Okay, and I don't mean that for some of you are watching this, I'm not trying to beat you up or make you feel silly or, or, you |
| 319 | 01:05:24,900 --> 01:05:36,930 | know, an educated, okay, I'm just trying to illustrate the point that you need to change your thought process about taking profits, okay, before you even start |
| 320 | 01:05:36,930 --> 01:05:46,980 | implementing these tools, because if you don't give yourself the permission to have a predetermine exit point and be content with that, you can slowly develop |
| 321 | 01:05:46,980 --> 01:05:59,100 | into Bigger Longer term profit objectives, okay. But for now, let's just deal with this head on, and understand that whatever profit opportunities, you have |
| 322 | 01:05:59,100 --> 01:06:07,860 | pre determined in your trading plan, those are what you're sticking to come hell or high water, that's what you're gonna do. Okay, and then, obviously, you can |
| 323 | 01:06:07,860 --> 01:06:17,910 | tweak it later on, that builds upon sound information and ideas and build a premise around. But until we get to that point, we have to have a foundation. |
| 324 | 01:06:17,910 --> 01:06:25,950 | And this is a very, very strong foundation. This is one of the things I had to instill in my own trading, in me a huge impact in my overall profitability and |
| 325 | 01:06:25,950 --> 01:06:35,430 | consistency. So now let's talk about price swings. Because obviously, without understanding what you're dealing with, on a price level scale, you're not going |
| 326 | 01:06:35,430 --> 01:06:43,650 | to understand where profits should be taken. Now, if you look at this crude diagram, I agree, okay, but it's going to accomplish the method nonetheless, we |
| 327 | 01:06:43,650 --> 01:06:52,290 | have a smaller minor price swing here, we have a intermediate term price swing, and maybe even a longer term price swing, okay? Now, it's |
| 328 | 01:06:52,349 --> 01:07:00,719 | not really important as to what timeframe This is, because it's universal, it's applicable in all timeframes. But we're gonna say, for instance, that this is |
| 329 | 01:07:00,719 --> 01:07:09,869 | possibly a five minute chart, okay. And this is the beginning of a new day, you've hunted a setup, and maybe this is going into the London kill zone. And |
| 330 | 01:07:09,869 --> 01:07:18,659 | you've expected some level of support down here. Okay, and you have to apologize, I have to apologize up ahead of this, because I'm not going to be |
| 331 | 01:07:18,659 --> 01:07:28,169 | spending a lot of time dressing up with a lot of lipstick, as I did the previous ones, because, quite frankly, I'm spending a lot of time on these videos. And |
| 332 | 01:07:28,199 --> 01:07:35,849 | even though you're getting the playback of about two hours and such, it's taking me about nine hours to produce these things. So I'm trying to keep it short and |
| 333 | 01:07:35,849 --> 01:07:42,929 | sweet. And even though it's not gonna be that short and sweet on the viewing side of it. But assuming there's some kind of support level, or premise that you |
| 334 | 01:07:42,929 --> 01:07:51,359 | think this is going to go higher, okay? We're not dealing with the entry points here, we're dealing with targeting. Assuming that you get in here on a minor |
| 335 | 01:07:51,359 --> 01:08:02,369 | pullback, okay, and something set up this opportunity is a buy. Okay. And where do we anticipate the upside objectives? Okay, well, first, you got numbers, |
| 336 | 01:08:02,399 --> 01:08:14,399 | numbers, understand that there are price swings within price swings within price swings, okay, this price swing here is about 50% of this range from high to low. |
| 337 | 01:08:15,149 --> 01:08:27,059 | This price swing here, okay, is equal to this price swing, but it retraces back within 50% range of this, okay, so there's a rule here that you have to |
| 338 | 01:08:27,059 --> 01:08:37,829 | understand and targeting. That means a symmetrical price swing. Okay. symmetrical price swing is basically something like this, this move up here, |
| 339 | 01:08:38,249 --> 01:08:50,759 | when this low, assuming this is a low, if it's breaks right here, we should see a equal move from this low to this highest high, okay? This becomes a fulcrum |
| 340 | 01:08:50,759 --> 01:09:02,279 | point, okay, or a pivot point, not pivot point like s one s two type pivots, I'm talking about a pivot point in such a way where when price breaks that you'll |
| 341 | 01:09:02,279 --> 01:09:12,569 | see it move lower. In other words, it's like a hinge right here. Price swung up. Once it broke that low, you just see an equal move from this low to this high in |
| 342 | 01:09:12,569 --> 01:09:29,039 | terms of range equal from this low, lower, and you see that here, okay. That same thing can be developed on and moved in the grave once this high, is broken. |
| 343 | 01:09:29,249 --> 01:09:37,019 | And you see that here. Now inside this price move here, assuming this is a price rally, it's a straight line, but obviously we know price isn't always moving in |
| 344 | 01:09:37,019 --> 01:09:46,289 | a straight line. There's other price swings within here, but the overall what I'm trying to draw your eye to is this overall price swing lower. In this price |
| 345 | 01:09:46,289 --> 01:09:58,559 | swing from high to low, there may be two three and before even multiple, smaller price swings within it, prior to attorney and going up near to the target to |
| 346 | 01:09:58,559 --> 01:10:08,939 | your hunting This high if it's broken, this is a fulcrum point on the bullish side. So as price rallies up, okay, and we're gonna talk about multiple |
| 347 | 01:10:08,939 --> 01:10:18,989 | targeting and all that stuff in another video, but in here as price breaks that point right here on this high, when it takes that out, we should see this move |
| 348 | 01:10:18,989 --> 01:10:33,329 | from this high to this low equal in terms of magnitude and distance and price, add that to this high and you'll see it equal salad words, if you took a line |
| 349 | 01:10:33,329 --> 01:10:44,849 | here and measured it with a ruler of such, you should see basically the same distance from this high here to this low added to this high up and you get this |
| 350 | 01:10:44,849 --> 01:10:54,989 | area here. That's what that's the first fundamental premise to understanding how to take profits. Okay, now we're looking at a bullish scenario here. But if you |
| 351 | 01:10:54,989 --> 01:11:04,619 | cannot understand this, okay, it's going to be very difficult, difficult for you to understand where you should be taking profits, okay? Because if you |
| 352 | 01:11:04,619 --> 01:11:17,099 | understand this crude, overall concept of price swings, okay? You understand that targeting in systematically taking it at predetermined levels is gonna be |
| 353 | 01:11:17,099 --> 01:11:26,429 | very easy for you. If you cannot see that here, okay. It's going to be a little bit easier to see when I have it on charts. But it's, it's Paramount, you have |
| 354 | 01:11:26,429 --> 01:11:38,819 | to understand this because there is a 50% rule in symmetrical price action. And it's basically measured moves this high to low. Once broken here, you'll get a |
| 355 | 01:11:38,819 --> 01:11:50,999 | measured move higher. Okay. Just take another closer look as to what I'm referring to. Okay, |
| 356 | 01:11:51,690 --> 01:12:02,400 | when you have a retracement, you have a price rally here. So this is the impulse move up, then you have a retracement into this range from that low to high. This |
| 357 | 01:12:02,400 --> 01:12:13,650 | could be any number of things, this could be a higher level support line, it could be a pivot, or fib, okay. It could be a water block a lot of different |
| 358 | 01:12:13,650 --> 01:12:23,670 | things could you substantiate this as a support level. But the main thing is, is you want to be looking at obviously, when price moves beyond this level here, |
| 359 | 01:12:24,000 --> 01:12:36,750 | you want to see a equal move from this high to low added to this high price point up. Okay. Again, that's the same premise we just talked about on the |
| 360 | 01:12:36,750 --> 01:12:45,990 | previous slide. But now we're gonna take a little bit further when you understand how to use Fibonacci, okay, Fibonacci, to get retracements you would |
| 361 | 01:12:45,990 --> 01:12:54,510 | anchor the price point low here to this high. Okay, so those are your two reference points for retracements on an up move, you're going to pull your fib |
| 362 | 01:12:54,510 --> 01:13:04,380 | from a low to a high and what that'll do is it'll plot within the range of that low and high all of the retracement levels. So this may be a 50 this may be a 60 |
| 363 | 01:13:04,380 --> 01:13:19,380 | to 79 such so something down here would be an optimal trade entry. Now, as price moves up, once we take out this high, it does not it does not guarantee that |
| 364 | 01:13:19,380 --> 01:13:31,290 | you'll get a 200% equal move from this high to this low. Once it's broken right here. There's no guarantee it's going to go 100% of whatever that range is, |
| 365 | 01:13:31,440 --> 01:13:44,160 | okay? It's not it's not it's no guarantee that okay? But there is a very large probability if you calculate the range from this high to this low. Let's assume |
| 366 | 01:13:44,160 --> 01:13:56,520 | for a moment that that's 100 pips, okay. 100 pips, if price breaks that high as it does here, in this example, it's an again, obviously this is a hand drawn |
| 367 | 01:13:57,150 --> 01:14:08,730 | illustration is not a price action chart, but its price blows out this high when it does that. If you take the range from here to here, again that being 100 pips |
| 368 | 01:14:08,730 --> 01:14:27,630 | assuming if you see from the low here 127 pips up price has a high probability of moving to that price point. Okay, if you go 162 pips from that low up here |
| 369 | 01:14:27,630 --> 01:14:36,180 | 162 pips, you have a high probability of seeing that price move as well. Now, where did I get these numbers from? Some of you guys understand Fibonacci, |
| 370 | 01:14:36,180 --> 01:14:44,520 | you're saying, well, that's pretty stupid, you know, I'll be obviously is there 127 162 extensions, right? But some of you aren't privy as to what I'm referring |
| 371 | 01:14:44,520 --> 01:14:53,700 | to. And we're going to learn that now. If you take your fib, and reverse its application, okay, and I'm gonna show you later on how to calibrate your mt for |
| 372 | 01:14:53,940 --> 01:15:02,820 | Fibonacci tool. But if you take the fib and you anchor it from the high here, and you draw it down to the low Here, what that's going to do is it's going to |
| 373 | 01:15:02,850 --> 01:15:18,660 | plot a 1.27 and a 1.62. Line, okay, and when price blows out this high, when it reaches those levels, they are very, very, very good levels to take profits at, |
| 374 | 01:15:18,960 --> 01:15:26,340 | they're easily determined, they're pre determined, there's no ambiguity about it, you'll know exactly what you're looking for price wise, and you can place |
| 375 | 01:15:26,340 --> 01:15:36,120 | your limit orders at those levels to get out at. Okay. But obviously, we get to live examples in the charts, you'll see much more clearly what I'm referring to. |
| 376 | 01:15:42,840 --> 01:15:50,940 | Okay, let's assume for a moment that we're looking at a price move, it suggests this is going to go higher, and prices had an impulse move up, and now we're |
| 377 | 01:15:50,940 --> 01:15:58,770 | retracing within that range, the range being this low. And this high, something now here constitutes a order block maybe or an optimal trade entry something to |
| 378 | 01:15:58,770 --> 01:16:05,970 | support an idea that this is going to go higher, or assuming it's going to go higher. what'll happen is, is you'll see hopefully, price move in your favor. |
| 379 | 01:16:06,330 --> 01:16:17,550 | Okay. And by pulling your fear from this level here, to this level here, you can get your 127 and 162 extensions, and still anticipate if you're in a higher |
| 380 | 01:16:17,640 --> 01:16:28,260 | higher time frame directional premise. You can anticipate a 200% price projection, okay, which is this high down to this low that range, add that range |
| 381 | 01:16:28,260 --> 01:16:36,360 | to this high and you'll get that high up here. Okay, that's the ultimate price level that you're looking for as the bat the furthest it's going to go now, will |
| 382 | 01:16:36,360 --> 01:16:49,050 | it go beyond that? Sometimes? Sure. Okay, many times it'll, it'll do that. But overall, if you look at 127 162 and 200, as your extensions, their ideal optimal |
| 383 | 01:16:49,140 --> 01:16:59,520 | exit points for your trades that are easily discernible, and there's no ambiguity whatsoever because this wave, lower is when it shoots higher. Okay, I |
| 384 | 01:16:59,520 --> 01:17:07,410 | probably shouldn't have said wave because I don't want you guys thinking I'm an Elliott Wave fan, because I am not okay, but this price swing rather, when this |
| 385 | 01:17:07,410 --> 01:17:16,800 | price swing starts to complete move higher. We know that this market structure high once it's broken out, we can have 127 162 and 200 extensions predetermine |
| 386 | 01:17:16,800 --> 01:17:27,360 | based on this range here with the premise that it's going higher off that retracement. Okay. As price moves lower into a deeper retracement of this |
| 387 | 01:17:27,360 --> 01:17:39,870 | impulse move. So we have this, again, this retracement lower within this range here. Okay. It could go deeper. Yes. Okay, it could retrace deeper, but we're |
| 388 | 01:17:39,870 --> 01:17:52,080 | just going to use this idea here as support resistance. And with this likelihood of this being support price could again, move higher. And if we do assume that |
| 389 | 01:17:52,080 --> 01:18:00,210 | this is a buying opportunity, okay, maybe there's an order block over here and there's consolidation within this leg up. Something constitutes a buy |
| 390 | 01:18:00,210 --> 01:18:11,430 | opportunity in here. If we buy here, we have a pre determined old high here and in the range here, assume that's for the sake of argument again, say it's 100 |
| 391 | 01:18:11,430 --> 01:18:22,890 | pips. We could take our anticipatory skills and expect to see price try to retest this high. And if it blows through that we can reasonably expect to see |
| 392 | 01:18:22,890 --> 01:18:33,060 | the 127 or 127 pips from this low once it starts to turn up. Or the 162 extension, which is 162 pips from that low. Okay, in this example, again, |
| 393 | 01:18:33,060 --> 01:18:43,290 | assuming that this is 100 Pip, retracement, obviously your Fibonacci tool will give you all the calculations on this giving it without the benefit of having a |
| 394 | 01:18:43,290 --> 01:18:54,150 | Fibonacci application on this diagram. So you'd be able to see when price takes this high out 127 and 162 extensions respectively, would be your upside |
| 395 | 01:18:54,150 --> 01:19:06,180 | objectives. Okay, so they're, they're predetermine levels to exit. Okay. So, every time you trade within a price swing, you could derive it in advance where |
| 396 | 01:19:06,180 --> 01:19:15,060 | your exit points are going to be new than beforehand. So you can use a limit order, and you can really pretty much go to sleep. Okay, you can go to work if |
| 397 | 01:19:15,060 --> 01:19:22,230 | you have your job. If it's the one session, if you can get yourself up out of bed for a little while, set the orders up. Once you get into a trade, you know, |
| 398 | 01:19:22,260 --> 01:19:30,120 | if a person for instance, is assuming this is the woman open, and you're trying to be long, okay, you can put your limit orders here. I can go to bed and |
| 399 | 01:19:30,120 --> 01:19:39,690 | hopefully sometime in London close or New York session, we could see those objectives fulfilled. Okay, and that's just one application or anticipatory |
| 400 | 01:19:39,870 --> 01:19:40,500 | example. |
| 401 | 01:19:47,100 --> 01:19:55,500 | Okay, obviously the same thing can be said on the downside understanding if there's something up here that constitutes a selling opportunity, something |
| 402 | 01:19:55,500 --> 01:20:02,940 | bearish, okay, and we're not going to build the context as to what that would be. We'll have all kinds of opportunities to understand what that is in this |
| 403 | 01:20:02,940 --> 01:20:17,700 | series. So assuming that is the case, when you're when your market breaks lower, okay, what in this price swing is your point of reference? Okay, if you're |
| 404 | 01:20:17,700 --> 01:20:26,430 | bearish the overall price structure that you should be looking for obviously is individual price swings. Yes. Okay. So in other words, this swing here, trade it |
| 405 | 01:20:26,430 --> 01:20:35,310 | up, whatever this range from here to here is it's the retracement into. So that could be a selling opportunity here. But if you take the range between this high |
| 406 | 01:20:35,310 --> 01:20:52,980 | to this low 127% on sorry 1.27 and Fibonacci 427% of that if you multiplied it, that would give you a lower objective here. And 162% of that range would give |
| 407 | 01:20:52,980 --> 01:21:06,690 | you the 162 extension now here as well. Same thing here we have this high and this low that range of pips once this low is violated as it is here in this |
| 408 | 01:21:06,690 --> 01:21:22,680 | example, we can look at the range from this low to this high, okay, we could see the 127 extension and 162 extension as downside objectives, okay. I should have |
| 409 | 01:21:22,680 --> 01:21:33,000 | said this in the previous mentioning, the intermediate term swing between the smaller swings, okay, think back in market structure. Now, this would be the, |
| 410 | 01:21:33,210 --> 01:21:44,430 | the higher level, price swing, okay. or major reference point, the intermediate term reference points many times if you see price, take this leg here. If you |
| 411 | 01:21:44,520 --> 01:21:57,960 | project your your Fibonacci based on that, that range, you'll get the 127 here and in 162, many times you'll get a intermediate term, deeper retracement, from |
| 412 | 01:21:57,960 --> 01:22:05,460 | the hydrophones back here, that's originally a sell off, you'll get a retracement into that range. And then you'll see the fulfillment of this swings, |
| 413 | 01:22:06,180 --> 01:22:16,200 | targeting which is 127 162, which hopefully would arrive down here and conceptually speaking. But everything that I said and when the bullish side, |
| 414 | 01:22:16,200 --> 01:22:21,060 | obviously if you flip it, then you can get the converse idea for the bearish. |
| 415 | 01:22:26,850 --> 01:22:39,180 | Okay, and again, much in the same capacity. We mentioned earlier, everything that you see on price swings, if this is a move lower, you're looking for a |
| 416 | 01:22:39,180 --> 01:22:50,970 | selling opportunity here. This range, if you pull your fib, from the low to this high, it'll project on your when your Fibonacci the 127 and 162. Extensions down |
| 417 | 01:22:50,970 --> 01:23:02,280 | in that area is where you'd be looking to hunt that 75 to 80% of your exit points. If you feel absolutely certain, okay, that you're you're going to see a |
| 418 | 01:23:02,280 --> 01:23:13,830 | 200% extension now words, whatever this ranges from high to low. If you're looking for a downswing, when this low is taken out, whatever that range is, |
| 419 | 01:23:13,860 --> 01:23:25,710 | it's duplicated. And you'll see that same magnitude wave lower or swing low rather, which is basically taking this low to this high. And if you had it in |
| 420 | 01:23:25,710 --> 01:23:36,000 | your own Fibonacci, it would be a 200% extension but I'm trying to avoid conditioning you to expect that all the time. Okay, I'm conditioning you really |
| 421 | 01:23:36,000 --> 01:23:47,460 | to expect 127 and 162 extensions because they are very, very consistent and you're pretty much going to be rewarded more consistently with that then you |
| 422 | 01:23:47,460 --> 01:23:48,540 | will get to 200%. |
| 423 | 01:23:54,150 --> 01:24:04,680 | Again, same thing we have a premise that this is a bearish market move we have a bearish impulse move lower. We have a retracement within that move. Something is |
| 424 | 01:24:04,740 --> 01:24:15,180 | implying a selling situations on their way. The range from this low to this high is used with your Fibonacci shoe use the fed from the low up to this high. And |
| 425 | 01:24:15,180 --> 01:24:28,080 | it's kind of project your Fibonacci extension 127 and 162. Yeah 162. And once it gets to those levels, many times you'll see a retracement unfold. And the |
| 426 | 01:24:28,140 --> 01:24:36,720 | impulse move lower here has a retracement assuming this low is significant in market structure. Something could be in line with a another order block here |
| 427 | 01:24:36,720 --> 01:24:45,840 | within this range. Again, these are not just straight market moves. There's all smaller price swings within this leg in price. So you have to reference those as |
| 428 | 01:24:45,840 --> 01:25:00,180 | well like we did in previous market. Video videos in the series. When this range here is calculate again pulling a fib from the low up to the high okay. It's |
| 429 | 01:25:00,180 --> 01:25:07,710 | going to give you 127 and 162 extensions, okay when you Fibonacci tool and that is where you would have your pre determined exit points, okay? |
| 430 | 01:29:51,450 --> 01:30:03,990 | Okay folks, we're gonna give a couple examples real quick with the Fibonacci 127 and 162 extensions. We're looking at the fiber here. We mentioned this earlier |
| 431 | 01:30:03,990 --> 01:30:17,700 | in this video where the order blocks were. And just for a simple, quick review, again, this is assuming that you understand this premise, we have this rally up |
| 432 | 01:30:17,730 --> 01:30:32,010 | comes right back down in this order block right here. And, again, framing the idea that this is bullish. So therefore, when price returns back into this area, |
| 433 | 01:30:32,340 --> 01:30:39,060 | we could reasonably expect to see a rally up. And this is where we |
| 434 | 01:30:44,430 --> 01:30:56,040 | see our entry point right in here and saw the optimal trade entry between 62 and 77, tracing lows, and as price rallies up, okay, before we even see it go beyond |
| 435 | 01:30:56,040 --> 01:31:07,770 | this point here, what you're doing is you're looking for your upside objectives. Okay? And because we're looking for upside objectives, you start with the high |
| 436 | 01:31:09,000 --> 01:31:25,680 | and you pull your fib down to the lowest low here, okay. And here's your 127 and your 162 extension, okay. And you can see that happened to be fulfilled, you get |
| 437 | 01:31:25,680 --> 01:31:53,850 | your 127 here and not too much longer. After that. You get your 127 right there. Okay, and we have another order block here as price rallies up. You want to go |
| 438 | 01:31:56,940 --> 01:32:13,500 | borrow this level here. Okay, price rallies up comes back down into the order block. Using the range, here's the low to the high. Your entry point is in here. |
| 439 | 01:32:14,520 --> 01:32:39,360 | Okay. And again, looking for upside objectives. You would reverse your fib from the high, down to the low. Here's your 127 extension. And your 162 up here. You |
| 440 | 01:32:39,360 --> 01:32:45,120 | see it hits it right there. Okay, we have another order block. |
| 441 | 01:32:56,010 --> 01:33:12,240 | Here, price rallies from this low to this high. We're not going to draw the fib in here Apple trade entry. The high down to the low. Okay, here's your 127 hits |
| 442 | 01:33:12,240 --> 01:33:28,680 | it handsomely. In Asia 162 extension, right there. Okay. So you have multiple examples on a pair that we have been utilizing for this series, but obviously |
| 443 | 01:33:28,680 --> 01:33:38,700 | it's applicable to any pair, okay. And it wouldn't be fair unless we did some downside objectives but I'm not to go to a different pair to do that. So let's |
| 444 | 01:33:38,700 --> 01:33:52,770 | take a look at the downside objectives utilizing the 127 and 162 extensions Okay, we're looking at the Japanese yen dollar versus the Japanese yen rather go |
| 445 | 01:33:52,770 --> 01:34:03,870 | we have a high price trades down retraces and moves lower as we anticipate a selling opportunity and we're going to say for sake of argument that we |
| 446 | 01:34:03,870 --> 01:34:19,890 | suspected that price would be a selling opportunity in here. Okay. way we get our downside objectives is to find the low up in the impulse move. Here or |
| 447 | 01:34:19,890 --> 01:34:30,840 | retracement rather from this range. Here. This is a retracement into the impulse move, retrace. And then here's your 127 which it gaps through. Then here's your |
| 448 | 01:34:30,840 --> 01:34:42,810 | 162 extension. It trades just a little bit beyond that before it bounces again. Again, we are not advocating trying to trade outside of the 162 and 127. use |
| 449 | 01:34:42,810 --> 01:34:54,810 | those as your guidelines. We have a price move lower or impulse move lower and we have a retracement. Okay. Again, same thing here. assuming this is the range |
| 450 | 01:34:54,810 --> 01:35:06,240 | high to low optimal trade entry in here. You could be a seller here. Where would our objectives be? Well, here's that fulcrum point. Okay? Remember this is that |
| 451 | 01:35:06,240 --> 01:35:18,210 | pivot point, when breaks below that we should see this move, move lower, okay, the highest level would be 200% extension or double the range from this low to |
| 452 | 01:35:18,210 --> 01:35:33,480 | this high broken from this low here, down, okay? But sticking to the rules, okay, you're going to be utilizing this swing up, and you'll be looking for the |
| 453 | 01:35:33,480 --> 01:35:47,610 | 127 and 162 extensions as your objectives lower. So if you're a seller here, you'd look to take profits at 127 down here, and then 162 down here, and scroll |
| 454 | 01:35:47,610 --> 01:36:01,980 | up here a little bit more. You can see, this is where the price moved and went down. Let's see. From that price point, too low, it only moves 17 pips beyond |
| 455 | 01:36:02,040 --> 01:36:11,190 | what the 162 extension is. And then optimally price returned all the way back up to the area where you were sold. So you can see if you were looking for 200% |
| 456 | 01:36:11,250 --> 01:36:21,120 | extension down here, you would have gave him a really, really handsome opportunity to be covering your short and reversing. And just one more example. |
| 457 | 01:36:21,480 --> 01:36:35,160 | On the short term, we have a impulse move here retracement, okay, find the low up to the high, highest point right there. And you're 127 and then your 162 |
| 458 | 01:36:35,160 --> 01:36:48,240 | extension, almost kneeling on the very low the move. And then obviously, you can see the price of the market moved higher. Okay. There are another opportunity of |
| 459 | 01:36:48,300 --> 01:37:01,590 | catching the upside here, you see this price move here. Okay, if you anticipate this is a buying opportunity. Okay, this is your reference point. On a price |
| 460 | 01:37:01,590 --> 01:37:14,670 | swing, remember that first slide, we talked about finding the upside objective, here is your fifth port down to the low. And then here's your 127. And we just |
| 461 | 01:37:14,670 --> 01:37:26,640 | fell short of that wants you to hear. And we just might get that. And in the coming days, or it could be just coming up to fill this gap. We don't know. But |
| 462 | 01:37:26,940 --> 01:37:39,540 | when the upside this could be a very favorable target for very little short term to intermediate term trade on the yen. So hopefully it's been useful and you |
| 463 | 01:37:39,540 --> 01:37:41,280 | guys can glean some insight from it. |