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Last modified by Drunk Monkey on 2021-06-11 13:56
From version 1.1
edited by Drunk Monkey
on 2020-11-20 16:49
Change comment: There is no comment for this version
To version 2.1
edited by Drunk Monkey
on 2021-06-11 13:56
Change comment: There is no comment for this version

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1 -1
2 -00:01:26,940 ~-~-> 00:01:32,490
3 -ICT: It's been my experience to observe that they are all
1 +(% class="hover min" %)
2 +|1 |00:00:04,620 ~-~-> 00:00:05,520 |ICT: progress in the valley
3 +|2 |00:00:05,519 ~-~-> 00:00:07,469 |Trust Bank bridge,
4 +|3 |00:00:07,500 ~-~-> 00:00:08,460 |we have shots fired.
5 +|4 |00:01:26,940 ~-~-> 00:01:38,430 |It's been my experience to observe that they are all too many times rushed to get into the action of entering trades with no real understanding of the current
6 +|5 |00:01:38,430 ~-~-> 00:01:48,180 |market environment, or what I refer to as a profile. Now, market profiling is a concept that classifies what type of trading environment the current market is
7 +|6 |00:01:48,180 ~-~-> 00:01:56,010 |currently trading within this swings the odds of success, when you apply the proper technical analysis to the present profile.
8 +|7 |00:02:01,920 ~-~-> 00:02:13,740 |The market profiles that I personally use and approach my technical analysis with is considered four basic categories really, the consolidation range
9 +|8 |00:02:13,740 ~-~-> 00:02:33,420 |profile, the breakout, which would be a valid and or false profile, the trending profile and the reversal profile. Now consolidation range profile really is
10 +|9 |00:02:33,420 ~-~-> 00:02:47,100 |something that I learned from Larry Williams. And he talked about the nature of how price moves within trading range to a trade of some kind, like a, like a
11 +|10 |00:02:47,100 ~-~-> 00:02:58,590 |breakout into a trend. Now, where do you go from range? expansion, range, expansion, consolidation again, okay, this phenomenon takes place in any
12 +|11 |00:02:58,590 ~-~-> 00:03:09,300 |timeframe, I don't care which one you look at, it's always there. Now, how you as a trader can make a considerable amount of money is based on using higher
13 +|12 |00:03:09,300 ~-~-> 00:03:21,180 |timeframes using this profile. You want to be looking for directional bias during this consolidation. There, there's going to be all kinds of tips and
14 +|13 |00:03:21,180 ~-~-> 00:03:34,740 |clues to smart money will leave for you to be able to participate in the swing that takes place going down in this example. Typically, when you see the market
15 +|14 |00:03:34,740 ~-~-> 00:03:45,480 |start trading like it does hear going down, that's when the novice or st money gets excited and they start jumping in on the move. It doesn't mean you can't
16 +|15 |00:03:45,480 ~-~-> 00:03:55,560 |make money in that phase of the market. But it's just simply you have to be aware that you are in a move that's already been underway for a period of time.
17 +|16 |00:03:56,400 ~-~-> 00:04:06,570 |And if this is daily candles, it could be a stale move basically going into basically no consolidation as we see here. Now during this consolidation,
18 +|17 |00:04:06,570 ~-~-> 00:04:16,890 |traders will be trying their hardest to try to figure out what's going to happen. And we if we can understand fsos a bearish market environment which is
19 +|18 |00:04:16,890 ~-~-> 00:04:28,170 |really what I'm trying to illustrate with this crude example. We would be more inclined to look for shorts during the upper portion of the consolidation area.
20 +|19 |00:04:28,860 ~-~-> 00:04:41,400 |And also while we're in this consolidation, since we have a bearish market environment, okay. The range profiled we would use would be to look for optimal
21 +|20 |00:04:41,400 ~-~-> 00:04:52,830 |trade entry short patterns near the high end of the upper range of these, this consolidation or one went look for a turtle suit which would be a false breakout
22 +|21 |00:04:52,830 ~-~-> 00:05:05,940 |pattern okay. So this is consolidation range profile is very handy in terms of determining what you should be doing overall, even if it's in a trending market
23 +|22 |00:05:05,940 ~-~-> 00:05:14,970 |or non trending market, markets will always go back into some sort of consolidation. Even if it's in a strong trend, the breakout will more or less
24 +|23 |00:05:15,540 ~-~-> 00:05:25,860 |typically fall in line with the prevailing trade direction going into the consolidation. And now that barring any reversal pattern, or market profile,
25 +|24 |00:05:25,860 ~-~-> 00:05:35,040 |that we'll talk about another module, because it does have some characteristics that can't be explained, you know, in this module, because we're gonna focus on
26 +|25 |00:05:37,620 ~-~-> 00:05:51,510 |everything but the reversal pattern reversal profile rather. Now, when markets go from consolidation to swing or trend, back into consolidation, during the
27 +|26 |00:05:51,510 ~-~-> 00:06:00,750 |consolidation, you want to be focusing on getting positioned with the next swing before it happens, you don't really chasing price, once it starts to break out,
28 +|27 |00:06:01,230 ~-~-> 00:06:13,230 |that's when, you know, we can be wrong. I mean, I hate to say left by but, you know, it could be a wrong decision. And the way we take our low risk, high
29 +|28 |00:06:13,230 ~-~-> 00:06:24,030 |probability trades are trading in the opposite direction of our anticipated price move in this environment, we would be looking for price to move lower. So
30 +|29 |00:06:24,030 ~-~-> 00:06:36,060 |we will be selling into any kind of rally during the consolidation, maybe even reaching up to this old consolidation, low range, and maybe even looking at the
31 +|30 |00:06:36,060 ~-~-> 00:06:44,610 |high of the previous consolidation to the low of the consolidation that we're currently in. And then reaching up for an optimal trade entry to get in sync
32 +|31 |00:06:44,610 ~-~-> 00:06:56,640 |with the market trend or market flow and build a short position on market structure, new selling swing highs and getting ourselves in sync with the
33 +|32 |00:06:56,670 ~-~-> 00:06:57,360 |overall
34 +|33 |00:06:58,890 ~-~-> 00:07:10,440 |flow of the downward pressure that would eventually materialize. Now once price breaks out of that consolidation again, while price trades down, we would be
35 +|34 |00:07:10,440 ~-~-> 00:07:20,940 |seeing the bars expand again, what you probably heard me refer to it as range expansion. This means basically that we went from usually on average or small
36 +|35 |00:07:20,940 ~-~-> 00:07:34,500 |range to larger or much bigger ranges. And that's where a lot of pips be made. As a professional trader, you want to be focusing on the time periods that
37 +|36 |00:07:35,100 ~-~-> 00:07:44,640 |present the quiet time, because that's when the consolidation is doing what accumulating the next move, there is no reason for you to be chasing the market.
38 +|37 |00:07:44,640 ~-~-> 00:07:54,210 |So a good procedure for you to adopt is whenever you see prices, start running this sit on your hands, don't do anything, don't chase it. Because that's
39 +|38 |00:07:54,240 ~-~-> 00:08:01,560 |exactly what the street money is doing. They're chasing and running after price. And you don't want to be doing that you should have already been in that move.
40 +|39 |00:08:02,190 ~-~-> 00:08:06,870 |And if you haven't been placed before the move ensues, you wait for the next one.
41 +|40 |00:08:17,700 ~-~-> 00:08:28,620 |Now, just as simple as it was to illustrate a bullish market environment and using consolidation range profile, when we have a trading range or
42 +|41 |00:08:28,620 ~-~-> 00:08:39,720 |consolidation, we want to be looking for the clues that indicate where price will move next, we do not chase it once it starts running. Once it breaks out,
43 +|42 |00:08:39,930 ~-~-> 00:08:49,740 |and starts moving higher and goes into another consolidation, we want to be using the low range or support level of the current consolidation, looking for
44 +|43 |00:08:49,740 ~-~-> 00:08:59,340 |optimal trade entry by signals pulling from the low of the previous consolidation up to the high in the present consolidation or looking for turtle
45 +|44 |00:08:59,340 ~-~-> 00:09:10,140 |soup by patterns. In other words, looking for stops being rated on the low in any kind of important swing low of some kind. If we see the market trade down to
46 +|45 |00:09:10,320 ~-~-> 00:09:20,490 |and snap away, that will confirm the indication that we would look for higher prices. And again, just like the previous slide, we want to be looking for times
47 +|46 |00:09:20,490 ~-~-> 00:09:31,860 |when the candles or bars are small. They're not really large. And we want to be trading against the probable direction for the trade. We want to be trading. In
48 +|47 |00:09:32,160 ~-~-> 00:09:40,650 |other words, if we're looking for a bullish move, we want to be entering on down candles okay when when we getting in the trade when it's moving against our
49 +|48 |00:09:40,650 ~-~-> 00:09:42,000 |anticipated trade direction.
50 +|49 |00:09:47,940 ~-~-> 00:09:58,920 |Now, how do you profile a market? Well, on the left hand side here, we have what would be considered a standard downtrending or downswing in the market until it
51 +|50 |00:09:58,920 ~-~-> 00:10:07,230 |reaches a low of some kind and you have a reversal formation. We're not going to cover the reversal here because it's a little bit more to it. But assuming that
52 +|51 |00:10:07,230 ~-~-> 00:10:16,380 |the market does reverse their trades up, okay? And then we'll have a retracement of some kind. Now the retracement can be in the form of a new consolidation or
53 +|52 |00:10:16,380 ~-~-> 00:10:27,930 |range. Okay. Work could be an intermediate term reversal pattern. We don't know that until price gives us its clues. But based on higher time frame support
54 +|53 |00:10:27,930 ~-~-> 00:10:38,250 |resistance levels, we would have a reasonable expectation to see these swings unfold based on simple higher time frame analysis. No indicators just simply
55 +|54 |00:10:38,250 ~-~-> 00:10:48,300 |looking at the higher time frame support resistance levels. Now when price goes into a retracement and it starts consolidating, okay, we can see clearly that
56 +|55 |00:10:48,480 ~-~-> 00:11:02,640 |we've made a probable enemy or long term low price has snapped back and retraced okay. So this could be positioning a longer term trend move higher. So we would
57 +|56 |00:11:02,640 ~-~-> 00:11:15,030 |be looking for buy signals, okay for swing trades or long trades, long position trades. And only taking shorts over on the right hand side of this diagram. If
58 +|57 |00:11:15,030 ~-~-> 00:11:26,040 |we get to this profile in the market, we would only be looking for scalps or real short term intraday short positions and not looking to hold on to our long
59 +|58 |00:11:26,040 ~-~-> 00:11:38,730 |term intraday targets on the downside because it could be just a smaller retracement within a higher timeframe bullish move. So in this diagram, we've
60 +|59 |00:11:38,730 ~-~-> 00:11:52,320 |illustrated what would be considered a trending market down a reversal and a consolidation and a potential breakout profile that would be on the right hand
61 +|60 |00:11:52,320 ~-~-> 00:12:03,480 |side. Now, the right hand portion where it's ranging, this could be a pretty long period of time, it could be weeks, while it stays within this range. It
62 +|61 |00:12:03,480 ~-~-> 00:12:12,840 |doesn't mean you can't make money, it just means that you need to be aware of where the key support resistance levels are, and keeping your trades limited to
63 +|62 |00:12:13,860 ~-~-> 00:12:24,180 |targets within that range and not chasing price up out of new territory. In other words, if it trades above this high here, look for turtle soup or optimal
64 +|63 |00:12:24,180 ~-~-> 00:12:36,030 |trade entry shorts. Because it could be very well, a long, not a long but a short unfolding, once it breaks out forcely and sucks the traders in. And you've
65 +|64 |00:12:36,030 ~-~-> 00:12:47,880 |seen plenty examples of that this year when my pro traders club videos. But within this consolidation, if we see optimal trade entry, by signals, obviously,
66 +|65 |00:12:47,940 ~-~-> 00:13:00,780 |that would be the case here as an example, we could look for price to go up. And we really have to be considering taking at least 70%. In my opinion, 70% of our
67 +|66 |00:13:00,780 ~-~-> 00:13:10,020 |profits offered to previous high noted here, because they don't know if it's going to stay within that range. If it does 30% remaining of the original
68 +|67 |00:13:10,020 ~-~-> 00:13:22,680 |position long. That would be a ideal candidate to hold on to in case we do get to break out. But you know, I'm not a fan of chasing price into new territory, I
69 +|68 |00:13:22,680 ~-~-> 00:13:32,370 |think it's going to have a strong tendency to try at least pullback within the range. And you have to have that mindset as a trader because there are
70 +|69 |00:13:32,400 ~-~-> 00:13:46,350 |environments where you can make a lot of money well, it stays within a range. And you can still make money in a trending reversal and consolidation or
71 +|70 |00:13:46,350 ~-~-> 00:13:57,270 |breakout profile, it just means you have to have the right tools and approach to trading with in that profile. So looking at the daily chart, weekly chart
72 +|71 |00:13:57,300 ~-~-> 00:14:05,820 |monthly chart for our chart, you can get the general market term where it's going higher or lower based on support resistance, fractal lows that were taken
73 +|72 |00:14:05,820 ~-~-> 00:14:18,060 |out, whereas market structure is bearish. You can even include the CO t data that we've learned in other videos, if commercials are poised to expect a long
74 +|73 |00:14:18,060 ~-~-> 00:14:30,750 |term loan to market and public traders are wildly bullish. Okay. They that could be a factor as well for your your profiling. But basically you just want to have
75 +|74 |00:14:31,170 ~-~-> 00:14:46,680 |the understanding of what price could probably do in the next coming sessions. Conversely, just like we discussed a potential market profiling candidate we
76 +|75 |00:14:46,680 ~-~-> 00:14:48,150 |have a uptrending market
77 +|76 |00:14:49,530 ~-~-> 00:15:03,360 |reaching a reversal and then a retracement into a consolidation. Now that high made here could be A long term high or could be a mid term high, we don't know.
78 +|77 |00:15:03,930 ~-~-> 00:15:15,720 |But we have to base our trading on the key levels that are presented to us on the higher timeframes. And noting where they are and basing our trading on that
79 +|78 |00:15:16,530 ~-~-> 00:15:26,940 |we would only be looking for buy signals. In the right side of the chart here is a crude diagram only for scalps and intraday short term targets. We would not
80 +|79 |00:15:26,940 ~-~-> 00:15:38,400 |look for our extreme retracement levels, I'm sorry extension levels on our fibs for our targets. We would simply look for the previous highs to be retested and
81 +|80 |00:15:38,460 ~-~-> 00:15:47,970 |not much beyond that. Again, just like the other slide, I would not be interested in buying brand new fresh highs I would look for profit taking there
82 +|81 |00:15:48,450 ~-~-> 00:16:00,150 |and maybe even some shorts. I believe this indicates a bearish tone in the marketplace if this was a daily and or four hour chart and focusing more on the
83 +|82 |00:16:00,150 ~-~-> 00:16:03,120 |short sells, then the buy signals.
84 +|83 |00:16:09,180 ~-~-> 00:16:18,240 |Now where is your focus, okay. When you prepare for trading do you spend time with the higher timeframes and determine which profile the market is presently
85 +|84 |00:16:18,240 ~-~-> 00:16:27,450 |trading within. You do not want to trade simply just for the sake of taking some action, but rather you want to be trading with the highest probability in your
86 +|85 |00:16:27,450 ~-~-> 00:16:37,530 |favor. It makes sense. When the market is trending. We as traders use trend oriented analysis when the market is in a reversal profile. This same trend
87 +|86 |00:16:37,560 ~-~-> 00:16:47,550 |oriented analysis would likely present lower odds. Keep the focus on the current environment and get your trading in sync and you will find trading far more
88 +|87 |00:16:47,550 ~-~-> 00:16:51,420 |easier than trying to force your treasured techniques into impossibilities.
4 4  
5 -2
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7 -too many times
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11 -rushed
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15 -to get into the action of entering trades with no real
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19 -understanding of the current market environment,
20 -
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23 -or what I refer to as a profile.
24 -
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27 -Now market profiling is a concept that
28 -
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31 -classifies what type of trading environment the current
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35 -market
36 -
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39 -is currently trading within.
40 -
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43 -This swings the odds of success when you apply the proper
44 -
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47 -technical analysis
48 -
49 -13
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51 -to the present profile.
52 -
53 -14
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55 -The market profiles that I personally use and
56 -
57 -15
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59 -approach my technical analysis with is considered four basic
60 -
61 -16
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63 -categories really the consolidation range profile, the
64 -
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67 -breakout, which would be a valid and or false profile, the
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71 -trending profile and the reversal profile.
72 -
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75 -Now consolidation range profile
76 -
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79 -really is something that I learned from
80 -
81 -21
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83 -Larry Williams and he talked about the nature of how price
84 -
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87 -moves within trading range
88 -
89 -23
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91 -to a
92 -
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95 -trade of some kind, like a breakout into a trend. Now, where
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99 -do you go from range? expansion, range, expansion,
100 -
101 -26
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103 -consolidation again, okay. This phenomenon takes place in
104 -
105 -27
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107 -any timeframe. I don't care which one Look at it's always
108 -
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111 -there. Now how you as a trader can make a considerable
112 -
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115 -amount of money is based on using the higher time frames
116 -
117 -30
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119 -using this profile. You want to be looking for directional
120 -
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123 -bias during this consolidation. There's going to be all
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125 -32
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127 -kinds of tips and clues. Smart Money will leave for you to
128 -
129 -33
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131 -be able to participate in the swing that takes place going
132 -
133 -34
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135 -down. In this example typically when you see the market
136 -
137 -35
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139 -start trading like it does here going down. That's when the
140 -
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143 -novice or st money gets excited and they start jumping in on
144 -
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147 -the move. It doesn't mean you can't make money in that phase
148 -
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151 -of the market. But it's just simply you have to be aware
152 -
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155 -that you are in a move that's already been underway for a
156 -
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159 -period of time. And if this is daily candles, and it could
160 -
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163 -be a stalemate. Basically going into you know, basically no
164 -
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167 -consolidation as we see here. Now during this consolidation
168 -
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171 -traders will be trying their hardest to try to figure out
172 -
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175 -what's going to happen. And we, if we can understand that if
176 -
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179 -this is a bearish market environment, which is really what
180 -
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183 -I'm trying to illustrate with this crude example
184 -
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187 -we would be more inclined to look for
188 -
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191 -shorts during the upper portion of
192 -
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195 -the consolidation area. And
196 -
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199 -also while we're in this consolidation, since we have a
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203 -bearish market environment, okay. The range profiled we
204 -
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207 -would use would be to look for optimal trade entry short
208 -
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211 -patterns near the high end of the upper range of these, this
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215 -consolidation or one would look for a turtle soup which
216 -
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219 -would be a false breakout pattern, okay.
220 -
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223 -So this is consolidation range profile
224 -
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227 -is very handy in terms of determining what you should be
228 -
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231 -doing overall. Even if it's in a trending market or non
232 -
233 -59
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235 -trending market, markets will always go back into some sort
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239 -of consolidation. Even if it's in a strong trend. The
240 -
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243 -breakout will more or less typically fall in line with the
244 -
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247 -prevailing trade direction going into the consolidation. Now
248 -
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251 -that's barring any reversal pattern or market profile that
252 -
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255 -we'll talk about another module because it does have some
256 -
257 -65
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259 -characteristics that can't be explained, you know, in this
260 -
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263 -module because we're gonna focus on
264 -
265 -67
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267 -everything but the reversal pattern reversal profile rather.
268 -
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271 -Now,
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275 -when markets go from consolidation to swing or trend, back
276 -
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279 -into consolidation, during the consolidation, you want to be
280 -
281 -71
282 -00:05:53,040 ~-~-> 00:05:57,270
283 -focusing on getting positioned with the next swing before it
284 -
285 -72
286 -00:05:57,270 ~-~-> 00:06:00,330
287 -happens. You don't be chasing price once it starts to Break
288 -
289 -73
290 -00:06:00,360 ~-~-> 00:06:05,640
291 -out, that's when, you know, we can be wrong. I mean, I hate
292 -
293 -74
294 -00:06:05,640 ~-~-> 00:06:10,410
295 -to say left by but it could be a wrong decision. And the way
296 -
297 -75
298 -00:06:10,410 ~-~-> 00:06:15,360
299 -we take our low risk, high probability traits are trading in
300 -
301 -76
302 -00:06:15,360 ~-~-> 00:06:20,190
303 -the opposite direction of our anticipated price moves. In
304 -
305 -77
306 -00:06:20,190 ~-~-> 00:06:23,100
307 -this environment, we would be looking for price to move
308 -
309 -78
310 -00:06:23,100 ~-~-> 00:06:26,970
311 -lower. So we will be selling into any kind of rally during
312 -
313 -79
314 -00:06:27,090 ~-~-> 00:06:30,930
315 -consolidation, maybe even reaching out to this old
316 -
317 -80
318 -00:06:30,930 ~-~-> 00:06:36,450
319 -consolidation, low range, and maybe even looking at the high
320 -
321 -81
322 -00:06:36,450 ~-~-> 00:06:39,390
323 -of the previous consolidation to the low of the
324 -
325 -82
326 -00:06:39,390 ~-~-> 00:06:42,840
327 -consolidation that we're currently in. And then reaching up
328 -
329 -83
330 -00:06:42,840 ~-~-> 00:06:46,380
331 -for an optimal trade entry to get in sync with the market
332 -
333 -84
334 -00:06:46,380 ~-~-> 00:06:50,490
335 -trend or market flow and build a short position on market
336 -
337 -85
338 -00:06:50,490 ~-~-> 00:06:55,380
339 -structure. You selling swing highs and getting ourselves in
340 -
341 -86
342 -00:06:55,560 ~-~-> 00:06:57,390
343 -sync with the overall
344 -
345 -87
346 -00:06:58,890 ~-~-> 00:07:01,260
347 -flow of the downward pressure that would
348 -
349 -88
350 -00:07:01,890 ~-~-> 00:07:05,520
351 -eventually materialize. Now once price breaks out of that
352 -
353 -89
354 -00:07:05,520 ~-~-> 00:07:10,440
355 -consolidation again, while price trades down, we would be
356 -
357 -90
358 -00:07:10,440 ~-~-> 00:07:14,700
359 -seeing the bars expand, okay. But you've probably heard me
360 -
361 -91
362 -00:07:14,700 ~-~-> 00:07:18,210
363 -refer to it as range expansion. This means basically that we
364 -
365 -92
366 -00:07:18,210 ~-~-> 00:07:23,640
367 -went from usually on average or small range to larger
368 -
369 -93
370 -00:07:23,729 ~-~-> 00:07:24,899
371 -or much
372 -
373 -94
374 -00:07:25,019 ~-~-> 00:07:30,779
375 -bigger ranges. And that's where a lot of pips be made. As a
376 -
377 -95
378 -00:07:30,779 ~-~-> 00:07:33,539
379 -professional trader, you want to be focusing on the time
380 -
381 -96
382 -00:07:33,539 ~-~-> 00:07:37,709
383 -periods that present the quiet time, because that's when the
384 -
385 -97
386 -00:07:37,709 ~-~-> 00:07:41,549
387 -consolidation is doing what accumulating the next move.
388 -
389 -98
390 -00:07:42,419 ~-~-> 00:07:45,389
391 -There is no reason for you to be chasing the market. So a
392 -
393 -99
394 -00:07:45,389 ~-~-> 00:07:49,439
395 -good procedure for you to adopt is whenever you see prices,
396 -
397 -100
398 -00:07:49,469 ~-~-> 00:07:51,989
399 -start running this sit on your hands, don't do anything,
400 -
401 -101
402 -00:07:51,989 ~-~-> 00:07:55,559
403 -don't chase it. Because that's exactly what the street
404 -
405 -102
406 -00:07:55,559 ~-~-> 00:07:57,839
407 -money's doing. They're chasing and running out their price
408 -
409 -103
410 -00:07:57,839 ~-~-> 00:08:00,209
411 -and you don't want to be doing that you should Could have
412 -
413 -104
414 -00:08:00,209 ~-~-> 00:08:03,509
415 -already been in that move. And if you haven't been placed
416 -
417 -105
418 -00:08:03,869 ~-~-> 00:08:06,869
419 -before the move in twos, you wait for the next one.
420 -
421 -106
422 -00:08:17,730 ~-~-> 00:08:22,770
423 -Now, just as simple as it was to illustrate a bullish market
424 -
425 -107
426 -00:08:22,770 ~-~-> 00:08:27,060
427 -environment and using consolidation range profile, when we
428 -
429 -108
430 -00:08:27,060 ~-~-> 00:08:30,570
431 -have a trading range or consolidation, we want to be looking
432 -
433 -109
434 -00:08:30,570 ~-~-> 00:08:35,250
435 -for the clues that indicate where price will move next, we
436 -
437 -110
438 -00:08:35,250 ~-~-> 00:08:39,720
439 -do not chase it once it starts running. Once it breaks out,
440 -
441 -111
442 -00:08:39,930 ~-~-> 00:08:41,850
443 -and starts moving higher and goes into another
444 -
445 -112
446 -00:08:41,850 ~-~-> 00:08:46,410
447 -consolidation, we want to be using the low range or support
448 -
449 -113
450 -00:08:46,410 ~-~-> 00:08:50,040
451 -level of the current consolidation, looking for optimal
452 -
453 -114
454 -00:08:50,040 ~-~-> 00:08:54,000
455 -trade entry by signals pulling from the low of the previous
456 -
457 -115
458 -00:08:54,000 ~-~-> 00:08:58,380
459 -consolidation up to the high in the present consolidation or
460 -
461 -116
462 -00:08:58,410 ~-~-> 00:09:01,470
463 -looking for turtle soup. Bye patterns. In other words,
464 -
465 -117
466 -00:09:01,470 ~-~-> 00:09:05,460
467 -looking for stops being rated on the low end, any kind of
468 -
469 -118
470 -00:09:05,820 ~-~-> 00:09:09,630
471 -important swing low of some kind. If we see the market trade
472 -
473 -119
474 -00:09:09,630 ~-~-> 00:09:13,200
475 -down to it and snap away that would confirm the indication
476 -
477 -120
478 -00:09:13,200 ~-~-> 00:09:17,490
479 -that we would look for higher prices. And, again, just like
480 -
481 -121
482 -00:09:17,490 ~-~-> 00:09:20,850
483 -the previous slide, we want to be looking for times when the
484 -
485 -122
486 -00:09:21,150 ~-~-> 00:09:25,890
487 -candles or bars are small, they're not really large. And we
488 -
489 -123
490 -00:09:25,890 ~-~-> 00:09:30,630
491 -want to be trading against the probable direction for the
492 -
493 -124
494 -00:09:30,630 ~-~-> 00:09:32,910
495 -trade. We want to be trading in Alberta. If we're looking
496 -
497 -125
498 -00:09:32,910 ~-~-> 00:09:36,690
499 -for bullish move, we want to be entering on down candles.
500 -
501 -126
502 -00:09:36,750 ~-~-> 00:09:39,840
503 -Okay, when are we getting in the trade when it's moving
504 -
505 -127
506 -00:09:39,840 ~-~-> 00:09:41,970
507 -against our anticipated trade direction.
508 -
509 -128
510 -00:09:47,940 ~-~-> 00:09:52,350
511 -Now, how do you profile a market? Well, on the left hand
512 -
513 -129
514 -00:09:52,350 ~-~-> 00:09:55,290
515 -side here, we have what would be considered a standard
516 -
517 -130
518 -00:09:55,320 ~-~-> 00:09:59,490
519 -downtrending or downswing in the market until it reaches a
520 -
521 -131
522 -00:09:59,490 ~-~-> 00:10:03,630
523 -low of some And you have a reversal formation. We're not
524 -
525 -132
526 -00:10:03,630 ~-~-> 00:10:05,370
527 -going to cover the reversal here because there's a little
528 -
529 -133
530 -00:10:05,370 ~-~-> 00:10:08,160
531 -bit more to it. But assuming that the market does reverse
532 -
533 -134
534 -00:10:08,160 ~-~-> 00:10:12,150
535 -their trades up, okay? Then we'll have a retracement of some
536 -
537 -135
538 -00:10:12,150 ~-~-> 00:10:15,450
539 -kind. Now the retracement can be in the form of a new
540 -
541 -136
542 -00:10:15,450 ~-~-> 00:10:20,460
543 -consolidation or range. Okay. Or it could be an intermediate
544 -
545 -137
546 -00:10:20,460 ~-~-> 00:10:24,090
547 -term reversal pattern. We don't know that until price gives
548 -
549 -138
550 -00:10:24,090 ~-~-> 00:10:27,900
551 -us its clues. But based on higher time frame support
552 -
553 -139
554 -00:10:27,900 ~-~-> 00:10:30,930
555 -resistance levels, we would have a reasonable expectation to
556 -
557 -140
558 -00:10:30,930 ~-~-> 00:10:35,490
559 -see these swings unfold based on simple higher time frame
560 -
561 -141
562 -00:10:35,490 ~-~-> 00:10:39,030
563 -analysis. No indicators just simply looking at the higher
564 -
565 -142
566 -00:10:39,030 ~-~-> 00:10:42,720
567 -time frame support resistance levels. Now when price goes
568 -
569 -143
570 -00:10:42,840 ~-~-> 00:10:47,070
571 -into a retracement and then starts consolidating, okay, we
572 -
573 -144
574 -00:10:47,070 ~-~-> 00:10:50,970
575 -can see clearly that we've made a probable enemy or long
576 -
577 -145
578 -00:10:50,970 ~-~-> 00:10:55,830
579 -term low price has snapped back and retraced Okay, so this
580 -
581 -146
582 -00:10:55,830 ~-~-> 00:11:02,520
583 -could be positioning a longer term trend move higher. So we
584 -
585 -147
586 -00:11:02,520 ~-~-> 00:11:06,300
587 -would be looking for buy signals, okay for swing trades or
588 -
589 -148
590 -00:11:06,300 ~-~-> 00:11:12,060
591 -long trades, long position trades and only taking shorts
592 -
593 -149
594 -00:11:12,510 ~-~-> 00:11:15,360
595 -over on the right hand side of this diagram. If we get to
596 -
597 -150
598 -00:11:15,360 ~-~-> 00:11:15,630
599 -this
600 -
601 -151
602 -00:11:17,100 ~-~-> 00:11:20,070
603 -profile in the market, we would only be looking for scalps
604 -
605 -152
606 -00:11:20,340 ~-~-> 00:11:24,990
607 -or real short term intraday short positions and not looking
608 -
609 -153
610 -00:11:24,990 ~-~-> 00:11:30,930
611 -to hold on to our long term intraday targets on the downside
612 -
613 -154
614 -00:11:30,930 ~-~-> 00:11:34,470
615 -because it could be just a smaller retracement within a
616 -
617 -155
618 -00:11:34,470 ~-~-> 00:11:38,730
619 -higher timeframe bullish move. So in this diagram, we've
620 -
621 -156
622 -00:11:38,730 ~-~-> 00:11:41,400
623 -illustrated what would be considered a trending market down
624 -
625 -157
626 -00:11:42,180 ~-~-> 00:11:48,750
627 -a reversal and a consolidation and a potential breakout
628 -
629 -158
630 -00:11:50,820 ~-~-> 00:11:54,960
631 -profile that would be on the right hand side. Now, the right
632 -
633 -159
634 -00:11:54,960 ~-~-> 00:11:58,380
635 -hand portion where it's ranging, this could be a pretty long
636 -
637 -160
638 -00:11:58,380 ~-~-> 00:12:02,730
639 -period of time. It could be weeks while it stays within this
640 -
641 -161
642 -00:12:02,730 ~-~-> 00:12:05,490
643 -range. It doesn't mean you can't make money, it just means
644 -
645 -162
646 -00:12:05,490 ~-~-> 00:12:08,700
647 -that you need to be aware of where the key support
648 -
649 -163
650 -00:12:08,700 ~-~-> 00:12:12,840
651 -resistance levels are, and keeping your trades limited to
652 -
653 -164
654 -00:12:13,860 ~-~-> 00:12:18,150
655 -targets within that range and not chasing price up out of
656 -
657 -165
658 -00:12:18,180 ~-~-> 00:12:21,240
659 -new territory. In other words, if it trades above this high
660 -
661 -166
662 -00:12:21,240 ~-~-> 00:12:25,170
663 -here, look for turtle soup or optimal trade entry shorts.
664 -
665 -167
666 -00:12:25,560 ~-~-> 00:12:28,470
667 -Because it could be very well, a long,
668 -
669 -168
670 -00:12:29,370 ~-~-> 00:12:30,900
671 -not a long a short
672 -
673 -169
674 -00:12:31,200 ~-~-> 00:12:35,280
675 -unfolding, once it breaks out falsely and sucks the traders
676 -
677 -170
678 -00:12:35,280 ~-~-> 00:12:38,040
679 -in and you've seen plenty examples of that this year when my
680 -
681 -171
682 -00:12:38,040 ~-~-> 00:12:44,250
683 -pro traders club videos. But within this consolidation, if
684 -
685 -172
686 -00:12:44,250 ~-~-> 00:12:48,420
687 -we see optimal trade entry by signals obviously that would
688 -
689 -173
690 -00:12:48,420 ~-~-> 00:12:53,130
691 -be the case here as an example, we could look for price to
692 -
693 -174
694 -00:12:53,280 ~-~-> 00:12:57,930
695 -go up and we really have to be considering taking at least
696 -
697 -175
698 -00:12:57,930 ~-~-> 00:13:02,160
699 -70% in my opinion. 70% of our profits off at the previous
700 -
701 -176
702 -00:13:02,160 ~-~-> 00:13:06,180
703 -high noted here, because they don't know if it's going to
704 -
705 -177
706 -00:13:06,180 ~-~-> 00:13:09,690
707 -stay within that range. If it does 30% remaining of the
708 -
709 -178
710 -00:13:09,690 ~-~-> 00:13:13,770
711 -original position on the long, that would be a ideal
712 -
713 -179
714 -00:13:13,890 ~-~-> 00:13:16,740
715 -candidate to hold on to in case we do get to break out.
716 -
717 -180
718 -00:13:17,130 ~-~-> 00:13:17,550
719 -But
720 -
721 -181
722 -00:13:18,180 ~-~-> 00:13:22,920
723 -I'm not a fan of chasing price into new territory, I think
724 -
725 -182
726 -00:13:22,920 ~-~-> 00:13:27,150
727 -it's going to have a strong tendency to try at least
728 -
729 -183
730 -00:13:27,150 ~-~-> 00:13:30,330
731 -pullback within the range. And you have to have that mindset
732 -
733 -184
734 -00:13:30,420 ~-~-> 00:13:35,340
735 -as a trader because there are environments where you can
736 -
737 -185
738 -00:13:35,340 ~-~-> 00:13:39,450
739 -make a lot of money while it stays within a range. And you
740 -
741 -186
742 -00:13:39,450 ~-~-> 00:13:45,480
743 -can still make money in a trending reversal and
744 -
745 -187
746 -00:13:45,480 ~-~-> 00:13:49,200
747 -consolidation or breakout profile. It just means you have to
748 -
749 -188
750 -00:13:49,200 ~-~-> 00:13:52,530
751 -have the right tools and approach to trading with in that
752 -
753 -189
754 -00:13:52,560 ~-~-> 00:13:57,630
755 -profile. So looking at a daily chart, weekly chart, monthly
756 -
757 -190
758 -00:13:57,630 ~-~-> 00:14:01,470
759 -chart for our chart, you can get The general market tone
760 -
761 -191
762 -00:14:01,470 ~-~-> 00:14:03,720
763 -where it's going higher or lower based on support
764 -
765 -192
766 -00:14:03,720 ~-~-> 00:14:06,300
767 -resistance, fractal lows that we're taking out whereas
768 -
769 -193
770 -00:14:06,300 ~-~-> 00:14:11,220
771 -market structure is bearish. You can even include the co2
772 -
773 -194
774 -00:14:11,220 ~-~-> 00:14:15,090
775 -data that we've learned in other videos, if commercials are
776 -
777 -195
778 -00:14:15,300 ~-~-> 00:14:20,040
779 -poised to expect a long term low in the market, and public
780 -
781 -196
782 -00:14:20,040 ~-~-> 00:14:25,890
783 -traders are wildly bullish, okay. That could be a factor as
784 -
785 -197
786 -00:14:25,890 ~-~-> 00:14:30,270
787 -well for your your profiling. But basically, you just want
788 -
789 -198
790 -00:14:30,270 ~-~-> 00:14:35,940
791 -to have the understanding of what price could probably do in
792 -
793 -199
794 -00:14:35,940 ~-~-> 00:14:42,690
795 -the next coming sessions. Conversely, just like we discussed
796 -
797 -200
798 -00:14:42,720 ~-~-> 00:14:47,730
799 -a potential market profiling candidate we have a uptrending
800 -
801 -201
802 -00:14:47,730 ~-~-> 00:14:53,640
803 -market reaching a reversal and then a retracement into a
804 -
805 -202
806 -00:14:53,640 ~-~-> 00:15:00,630
807 -consolidation. Now that tie made here could be Long Term
808 -
809 -203
810 -00:15:00,630 ~-~-> 00:15:04,440
811 -high or it could be mid term high, we don't know. But we
812 -
813 -204
814 -00:15:04,440 ~-~-> 00:15:08,490
815 -have to base our trading on the key levels that are
816 -
817 -205
818 -00:15:09,240 ~-~-> 00:15:12,720
819 -presented to us on the higher time frames and noting where
820 -
821 -206
822 -00:15:12,720 ~-~-> 00:15:13,470
823 -they are
824 -
825 -207
826 -00:15:14,010 ~-~-> 00:15:15,720
827 -and basing our trading on that
828 -
829 -208
830 -00:15:16,529 ~-~-> 00:15:20,729
831 -we would only be looking for buy signals. In the right side
832 -
833 -209
834 -00:15:20,729 ~-~-> 00:15:24,989
835 -of the chart here is a crude diagram. Only for scalps and
836 -
837 -210
838 -00:15:24,989 ~-~-> 00:15:27,749
839 -intraday short term targets. We would not look for our
840 -
841 -211
842 -00:15:29,220 ~-~-> 00:15:32,040
843 -extreme retracement levels, I'm
844 -
845 -212
846 -00:15:32,039 ~-~-> 00:15:34,589
847 -sorry extension levels on our fibs for our targets. We would
848 -
849 -213
850 -00:15:34,589 ~-~-> 00:15:38,729
851 -simply look for the previous highs to be retested and not
852 -
853 -214
854 -00:15:38,729 ~-~-> 00:15:42,029
855 -much beyond that. Again, just like the other slide, I would
856 -
857 -215
858 -00:15:42,029 ~-~-> 00:15:46,229
859 -not be interested in buying brand new fresh highs I would
860 -
861 -216
862 -00:15:46,229 ~-~-> 00:15:49,799
863 -look for profit taking there and maybe even some shorts.
864 -
865 -217
866 -00:15:51,480 ~-~-> 00:15:53,610
867 -I believe this indicates a
868 -
869 -218
870 -00:15:53,730 ~-~-> 00:15:56,820
871 -bearish tone in the marketplace if this was a daily and or
872 -
873 -219
874 -00:15:56,820 ~-~-> 00:16:01,020
875 -four hour chart and focusing more on that The short sells,
876 -
877 -220
878 -00:16:01,530 ~-~-> 00:16:03,150
879 -then the buy signals.
880 -
881 -221
882 -00:16:09,179 ~-~-> 00:16:13,319
883 -Now, where is your focus? Okay. When you prepare for trading
884 -
885 -222
886 -00:16:13,319 ~-~-> 00:16:16,379
887 -do you spend time with the higher time frames and determine
888 -
889 -223
890 -00:16:16,409 ~-~-> 00:16:20,189
891 -which profile the market is presently trading within. You do
892 -
893 -224
894 -00:16:20,189 ~-~-> 00:16:23,249
895 -not want to trade simply just for the sake of taking some
896 -
897 -225
898 -00:16:23,249 ~-~-> 00:16:26,489
899 -action, but rather you want to be trading with the highest
900 -
901 -226
902 -00:16:26,489 ~-~-> 00:16:30,269
903 -probability in your favor. It makes sense. When the market
904 -
905 -227
906 -00:16:30,269 ~-~-> 00:16:34,529
907 -is trending, we as traders use trend oriented analysis when
908 -
909 -228
910 -00:16:34,529 ~-~-> 00:16:37,529
911 -the market is in a reversal profile. This same trend
912 -
913 -229
914 -00:16:37,529 ~-~-> 00:16:41,879
915 -oriented analysis would likely present lower odds. Keep the
916 -
917 -230
918 -00:16:41,879 ~-~-> 00:16:44,759
919 -focus on the current environment and get your trading in
920 -
921 -231
922 -00:16:44,759 ~-~-> 00:16:48,389
923 -sync and you will find trading far more easier than trying
924 -
925 -232
926 -00:16:48,389 ~-~-> 00:16:51,419
927 -to force your treasured techniques into impossibilities.