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3 -ICT: Okay guys, we are looking at the intraday trading plan
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2 +|1 |00:00:11,759 ~-~-> 00:01:42,419 |ICT: This Okay guys, we are looking at the intraday trading plan module for a trading plan development series is Part Seven last in the series, right we're
3 +|2 |00:01:42,419 ~-~-> 00:01:54,899 |looking at pretty much a very generic approach to how I trade. Obviously you could build upon this is simply just an idea to use as a foundation for your
4 +|3 |00:01:55,199 ~-~-> 00:02:05,699 |demo trading. And the premise behind this style trading is obviously still within the scope of trading in sync with the market structure. Okay? The
5 +|4 |00:02:05,699 ~-~-> 00:02:17,969 |duration of these types of trades obviously, are intraday, and a portion of which after being scaled out, maybe held overnight. And if you use the previous
6 +|5 |00:02:17,969 ~-~-> 00:02:29,009 |modules also, we can use these concepts as well as interdict entering into higher timeframe trades as well. The average PIP return is anywhere between 20
7 +|6 |00:02:29,009 ~-~-> 00:02:39,929 |to 100 pips per trade. And if you look at the overall approach, when we look for buy signals, we're trying to trade in the observance of a bullish market maker
8 +|7 |00:02:39,929 ~-~-> 00:02:49,949 |profile, or fractal. And we're gonna be looking for price patterns and conferences around support levels. And the optimal trade entry is going to be
9 +|8 |00:02:49,949 ~-~-> 00:03:01,139 |utilized for entry price, and fib, extensions for profits. The entry and exits are simply based on time and price theory. And we'll talk more about that as we
10 +|9 |00:03:01,139 ~-~-> 00:03:08,579 |go through. And much like everything I teach, the opposite is said for the sell signals, we're going to be trying to trade in the observance of a bearish market
11 +|10 |00:03:08,579 ~-~-> 00:03:18,569 |maker profile or fractal. We're going to look for price patterns and conferences around resistance levels. And we utilizing the optimal trade entry for entry
12 +|11 |00:03:18,569 ~-~-> 00:03:29,489 |price and using fib extensions for profits. And our entry and exit are based on time and price theory as well. We're risking no more than 2% maximum per trade.
13 +|12 |00:03:29,909 ~-~-> 00:03:44,429 |And when we utilizing risk management and control procedures, as we discussed and how to handle losses trading module, and I'll have links at the end of this
14 +|13 |00:03:44,429 ~-~-> 00:03:58,259 |video. So you guys can utilize those for amplified education if it's the first time you've seen my work. Alright, looking at the overall concepts, okay, the
15 +|14 |00:03:58,409 ~-~-> 00:04:07,649 |key points and concepts and tools we're gonna utilize for this module is obviously hedging upon your understanding of price action. Now, do not be
16 +|15 |00:04:09,509 ~-~-> 00:04:19,469 |intimidated if this goes over your head the first time you see it. It's for folks that are basically students of the work I've already produced and shared
17 +|16 |00:04:19,499 ~-~-> 00:04:32,159 |for over the last few years on baby pips.com in the forums. If you do not have the foundational information, it's found in my thread on Newby Island, titled
18 +|17 |00:04:32,159 ~-~-> 00:04:42,329 |what every new and or aspiring forex trader still wants to know. The first post of that thread has the framework for most of what you're seeing in this module.
19 +|18 |00:04:44,249 ~-~-> 00:04:54,749 |By utilizing those tools and spending some time with it and studying price action and not indicators. You'll you'll build a backbone to flesh out the rest
20 +|19 |00:04:54,779 ~-~-> 00:05:08,099 |of your price action trading. Now, obviously The next stage when we're going to be using intraday trading your understanding of the Asian range, okay? The Asian
21 +|20 |00:05:08,099 ~-~-> 00:05:11,819 |range was introduced to me by Chris Laurie.
22 +|21 |00:05:13,139 ~-~-> 00:05:25,949 |He's one of the well respected individuals in forex industry. He's the only one that really I support in terms of teaching. A lot of the things he, he goes
23 +|22 |00:05:25,949 ~-~-> 00:05:34,829 |along with in terms of technical analysis and approaches to trading are very close to what I do. It's not exactly the same, but it's close to there. There
24 +|23 |00:05:34,829 ~-~-> 00:05:46,199 |probably is out there. Even though he is a paid educator, he does have free resources and information is made available. At the time of this recording, you
25 +|24 |00:05:46,199 ~-~-> 00:05:59,699 |can reach him at Chris laurie.com. He has Twitter accounts and all that stuff, just like I do. The main premise two my intraday trading is based on the
26 +|25 |00:05:59,699 ~-~-> 00:06:10,379 |direction of the day, and also trading in the direction of the week. Okay, so if I can trade in the higher timeframe direction and have the daily bias in that
27 +|26 |00:06:10,379 ~-~-> 00:06:21,989 |same directional sense, my odds of success are greatly amplified. Okay. And as a day trader, when I used to trade the futures market, I trade the bonds in the
28 +|27 |00:06:21,989 ~-~-> 00:06:35,009 |s&p 500. Back when it was $500 per point, or full handle, I understood the premise of having the first hours range, okay, and I use that as like, like the
29 +|28 |00:06:35,009 ~-~-> 00:06:44,069 |same thing that we're gonna be discussing here for the Asian range, okay. And when I went into trading forex, okay, I stopped trading off the futures markets
30 +|29 |00:06:44,879 ~-~-> 00:06:55,109 |and moved into trading forex, and I had that same first hour premise going in, and I use the midnight timeframe from for me, okay, which is five GMT, or New
31 +|30 |00:06:55,109 ~-~-> 00:07:07,169 |York time, midnight. And I would bracket that 12 to one o'clock in the morning timeframe. And I would look for breaks above breaks below this particular range.
32 +|31 |00:07:07,169 ~-~-> 00:07:16,709 |Now, obviously, I'm not going to teach that here because now the concepts that I use with trading with the Asian range, obviously, like I said, Before, I learned
33 +|32 |00:07:16,769 ~-~-> 00:07:30,029 |from Chris Laurie. I didn't know anything about the Asian range, in terms of forex, until I came across his material. So all the credit is associated with me
34 +|33 |00:07:30,029 ~-~-> 00:07:38,129 |and my Asian range concepts really should be attributed to Chris Laurie, because that's where I got it from. I'm not one that tried to take credit for something
35 +|34 |00:07:38,129 ~-~-> 00:07:50,999 |that I didn't either discover or come across on my own. So again, because of that type of trader, I am I, I like to give credit where credit's due. And the
36 +|35 |00:07:50,999 ~-~-> 00:08:04,229 |Bible teaches that pattern my life after that as well. So looking at how the Asian range and Asian range is the price action that takes place from GMT, zero
37 +|36 |00:08:04,229 ~-~-> 00:08:19,979 |GMT to five GMT five hour window. That to me is my Asian range. Okay. And I use midnight, New York time as my new day. Again, I know that may be confusing to
38 +|37 |00:08:20,069 ~-~-> 00:08:31,889 |me, because it's been talked about various mentors, various teachers resources will talk about, you know, Wellington, and Australia and all that being the new
39 +|38 |00:08:32,789 ~-~-> 00:08:44,429 |financial day, not for ICT. Okay. I'm an East Coast trader, on the North American continent. So to me, the new day for me is midnight, so I reference
40 +|39 |00:08:44,459 ~-~-> 00:08:58,199 |everything on midnight. Okay, my time, but I also reference the previous price action, okay, that means from zero 100 to five GMT, that price action still has
41 +|40 |00:08:58,199 ~-~-> 00:09:09,689 |to be utilized in your analysis, that being the asian session, so the range that it creates, Now granted, Asia still trades beyond five GMT or midnight, my time,
42 +|41 |00:09:10,259 ~-~-> 00:09:22,259 |but I'm only concerned about what it has done up to that point. Now Chris Laurie. Is he revealed in his webinar we did together. Earlier in the year, he
43 +|42 |00:09:22,259 ~-~-> 00:09:34,499 |uses 530 GMT, which would be equivalent to 1230 GMT. It's not so much that you have to be worried about that. You could use either one really, but I stick to
44 +|43 |00:09:34,889 ~-~-> 00:09:40,949 |midnight time or five GMT and the the range that price builds
45 +|44 |00:09:41,280 ~-~-> 00:09:56,640 |between those two windows of zero GMT to five GMT. That to me, okay is the accumulation stage for daily range. Okay. Now words market makers are preparing
46 +|45 |00:09:56,850 ~-~-> 00:10:08,010 |okay to see The market trades up or down based on the orders that come in and start stacking out years, all kinds of orders that are placed that are pending.
47 +|46 |00:10:08,280 ~-~-> 00:10:16,380 |Okay, on an institutional level, not so much retail because the retail traders, you don't really have the exposure to this type of information. But I promise
48 +|47 |00:10:16,380 ~-~-> 00:10:31,110 |you, there's, there's a lot of orders that are stacking up in Asia, okay. And as we get closer to Frankfurt, and London open, the the volatility, the liquidity,
49 +|48 |00:10:31,230 ~-~-> 00:10:43,680 |the interest, the action, all those things start to build up. And you actually have the biggest point of volume for the day coming in around 2am or 3am, New
50 +|49 |00:10:43,680 ~-~-> 00:10:59,460 |York time, okay, which would be seven to eight GMT on average. Now, this range, that's assumed, by studying the high end Lotus formed between zero 100 GMT and
51 +|50 |00:10:59,460 ~-~-> 00:11:11,250 |five GMT, there's going to be initial stops and limit orders. beyond those specific points, and we're gonna talk more about that we'll get into it. But
52 +|51 |00:11:11,640 ~-~-> 00:11:23,310 |based on where we go from there, okay, is how I arrive at my London open trades. Okay, now, I'll have a built in premise before all these trades take place. I'm
53 +|52 |00:11:23,310 ~-~-> 00:11:30,210 |not just looking at chart and saying okay, well, now it's doing this, I'm gonna react now. I've built a model. And we're going to talk about that in here. And
54 +|53 |00:11:30,210 ~-~-> 00:11:41,820 |how you can utilize these concepts to flesh out your own approach to trading this specific timeframe, or time session intraday, because I do believe that if
55 +|54 |00:11:41,820 ~-~-> 00:11:51,840 |you are capable of trading this timeframe or this session, speaking of which London is one referring to, I think this offers the highest in terms of
56 +|55 |00:11:51,840 ~-~-> 00:12:04,560 |probability for maximum PIP hauls for the intraday trading. I think even though it's probably scary to most individuals, I think it is the safest one if you
57 +|56 |00:12:04,560 ~-~-> 00:12:15,180 |understand price action, because it's very forgiving if you understand what you're looking for. And that the risk reward is, to me, in my opinion is
58 +|57 |00:12:15,180 ~-~-> 00:12:23,040 |optimal. Because you're going to have risk in every session, you trade in any type of trading. Okay, but for me, since I use a standard 30 PIP stop. That's
59 +|58 |00:12:23,040 ~-~-> 00:12:30,300 |based on the premise that the average daily range across the board on the majors is about 100 pips per day. Now, obviously, it'll fluctuate up and down. But
60 +|59 |00:12:30,300 ~-~-> 00:12:41,700 |generally 100 pips is pretty much the safe that that's the average daily range. So I'm using essentially a third of the average daily range for a stop. So if
61 +|60 |00:12:41,700 ~-~-> 00:12:51,480 |I'm trading with the premise that I'm trying to catch the high of the day. If I'm wrong, I'm going to really no, I'm wrong. Okay, so 30 pips is going to
62 +|61 |00:12:51,480 ~-~-> 00:12:59,250 |permit me to do that. We'll talk more about that as you go. But the London session, what specifically do we need to know about this session? What sets it
63 +|62 |00:12:59,250 ~-~-> 00:13:09,750 |apart from the others? Okay, well, typically, it'll post the daily high or low inside of the first four hours of trading. If you just note on your chart,
64 +|63 |00:13:10,110 ~-~-> 00:13:23,460 |exactly eight GMT eight GMT, which is a standard on an open timeframe, you'll see that that many times makes the higher low, because it's the actual London
65 +|64 |00:13:23,460 ~-~-> 00:13:34,530 |open, or was referred to as a lineup, and there's no specific exchange that opens up it is that's when everybody dog piles in, and you're start stacking up
66 +|65 |00:13:34,530 ~-~-> 00:13:46,080 |around that time. So by having this premise built in if you have a higher timeframe, directional bias. In other words, if you expect the weekly range to
67 +|66 |00:13:46,080 ~-~-> 00:13:55,350 |be an up candle, okay, in other words, if you look on a weekly chart, and the candle that you expect to form this week, starting on Sunday trading, if you
68 +|67 |00:13:55,350 ~-~-> 00:14:05,550 |expect to see the candle for the weekly range to be an up candle, okay, or Friday's close to be greater than Sunday's opening. Okay, essentially what we're
69 +|68 |00:14:05,550 ~-~-> 00:14:14,250 |talking about here, inside of that weekly range, you're expecting to capitalize on some kind of a bullish move. Okay, so by having that premise going into
70 +|69 |00:14:14,250 ~-~-> 00:14:22,470 |trading, okay, you're going to be looking for the load of form within the first four hours of trading during the London open session. Okay. So then what you're
71 +|70 |00:14:22,470 ~-~-> 00:14:33,960 |going to be looking at as early as 1am, Eastern Standard Time, New York time, okay? or six GMT. Generally, seven to eight GMT is about when it starts to form.
72 +|71 |00:14:34,770 ~-~-> 00:14:37,080 |But the ideal bracketed
73 +|72 |00:14:37,680 ~-~-> 00:14:45,810 |kill zone that I like to call is seven to nine GMT. Okay, you can learn more about these specific times and how to map out your charts. I'm not going to do
74 +|73 |00:14:45,810 ~-~-> 00:14:55,440 |it in this session because I've done extensively in other modules, but if you look at my video, how to trade key swing points video, it actually shows you how
75 +|74 |00:14:55,440 ~-~-> 00:15:05,220 |to map out them on an open kill zone and the New York open kill zone. So I'd advise you to take a look So if you haven't, obviously, this is a prerequisite
76 +|75 |00:15:05,220 ~-~-> 00:15:12,540 |for you to continue. So I would actually tell you to stop the video here and go check that video out and then come back and pick up where we're at right now.
77 +|76 |00:15:13,740 ~-~-> 00:15:25,020 |Okay, so those that did take the instructions, welcome back and those that didn't Shame on you. London open, it typically sees a stop raid or false
78 +|77 |00:15:25,020 ~-~-> 00:15:38,580 |breakout, okay, there's always this tendency for London to see this initial rally up fake and then drops going into London clothes, okay, especially if
79 +|78 |00:15:38,580 ~-~-> 00:15:45,990 |you're expecting a bearish move for the week or expecting a bearish day. You see this happen over and over and over again, the Asian range high gets taken out,
80 +|79 |00:15:46,260 ~-~-> 00:15:52,920 |or we break out of the Asian range trade right back into the Asian range, again, create an optimal trade entry sell off, and then goes down into New York and
81 +|80 |00:15:52,920 ~-~-> 00:16:04,110 |North London close. That's generally the type of style trading that I do in the London session. Now, this swing that takes place from London going into the
82 +|81 |00:16:04,110 ~-~-> 00:16:13,860 |later part of the day, I dubbed the London Express, and it simply means that you know, I'd look at it like a train ride, it takes 48 hours in duration, okay, and
83 +|82 |00:16:13,860 ~-~-> 00:16:20,970 |if you get in if you get in the right direction, it can really take you places guys. It has a huge amount of pips laid at your feet if you understand what
84 +|83 |00:16:20,970 ~-~-> 00:16:30,330 |you're doing, and you don't fear holding all day. If you're a scalper and you get in here and you do these 510 15 minute trades and you think you've made a
85 +|84 |00:16:30,330 ~-~-> 00:16:39,750 |lot of money, that may feel good, okay, but don't live there, you should develop a little bit more in terms of price action, and understanding and allow your
86 +|85 |00:16:39,780 ~-~-> 00:16:48,990 |access if you trade in London. Permit yourself to hold something throughout the day. Okay, if you do that, you'll have a whole lot more pips laid at your feet
87 +|86 |00:16:49,020 ~-~-> 00:16:58,470 |in versus just going in the market, taking a few pips and being happy with that. Additional trade entries can be made in the direction of London Express trends.
88 +|87 |00:16:59,040 ~-~-> 00:17:07,350 |And you can do that by trading at the New York open. Now it's not my point to teach the New York open. We do have a webinar that was recorded trade in New
89 +|88 |00:17:07,350 ~-~-> 00:17:15,810 |York session. You can find that on my YouTube channel. And it's also linked on the pips. Thread, what every new and aspiring forex trader still wants to know
90 +|89 |00:17:15,840 ~-~-> 00:17:25,590 |on the first page of that thread, my first post opening title post, it has an index of all my videos that's on YouTube, that is my initial forex trading
91 +|90 |00:17:25,590 ~-~-> 00:17:38,640 |course. All those videos are there that webinars in that list as well. Time objectives are utilized for profit taking, and those being 1500 to 1600 GMT,
92 +|91 |00:17:38,670 ~-~-> 00:17:47,670 |you've seen this many, many times in my videos, many times call them the actual high or low the day. If we do hold on to a portion of it, we'd love to try to
93 +|92 |00:17:47,670 ~-~-> 00:17:57,600 |take some out at 1800 GMT if it continues to move on from the London higher load that were traded. And if we have obviously a small portion to trade on to hold
94 +|93 |00:17:57,600 ~-~-> 00:18:06,480 |overnight for additional profits that may ensue going into the next day's trading. Obviously, we'll talk about that when we get to it. But we take profit
95 +|94 |00:18:06,630 ~-~-> 00:18:17,760 |objectives based around time and price theory. Okay, and it means support resistance, swings, projections Fibonacci these old highs and lows and specific
96 +|95 |00:18:17,760 ~-~-> 00:18:26,550 |times that means the New York open again and we look at the trade in the key swing points video module one the information around the New York open then the
97 +|96 |00:18:26,550 ~-~-> 00:18:35,820 |15 to 1600 GMT that profit taking our that's the London close we have to take our largest portion of our intraday trading profits there. And then obviously
98 +|97 |00:18:35,820 ~-~-> 00:18:46,530 |for holding on intraday and starts to run, you can get a late New York swing going into 1800 GMT. But if you're specifically going to be looking to capture
99 +|98 |00:18:46,890 ~-~-> 00:18:56,370 |only intraday action and never hold overnight, take the lion's portion of your profits around the 1500 to 1600 GMT hour. So inside of that window of of one
100 +|99 |00:18:56,370 ~-~-> 00:19:05,910 |hour lock to take your profits and scale up largest portion if you can hold a little bit, okay, obviously tighten your stop loss up and then reach no more
101 +|100 |00:19:05,910 ~-~-> 00:19:14,370 |than 1800 GMT if you're just an intraday trader not holding every night. But 80% of the time, you're going to see that 1500 to 1600 hour
102 +|101 |00:19:14,880 ~-~-> 00:19:25,830 |post the counter. higher low nomads if it's been a down day, you'll see the low form around 15 to 1600 GMT, and if it's an up day, you'll see the high form for
103 +|102 |00:19:25,830 ~-~-> 00:19:35,610 |the day around 15 to 1600 GMT. Okay, so one open gives you the higher low and in 1500 to 1600 gives you the opposite end of the daily range. Okay, so if you take
104 +|103 |00:19:35,610 ~-~-> 00:19:42,960 |nothing else from this, this video module, that right there in itself will make you more money in your demo account than you've ever probably imagined. Okay,
105 +|104 |00:19:42,990 ~-~-> 00:19:51,840 |that's how precise these concepts work. Now when you start adding all these other components to it, it's like Voodoo, okay, it's just amazing how this stuff
106 +|105 |00:19:51,840 ~-~-> 00:20:01,560 |works out. And you'll be you'll be pleasantly surprised once you start applying these concepts. Now when trading in the anticipated Weekly trend direction, you
107 +|106 |00:20:01,560 ~-~-> 00:20:09,270 |want to take some profits intraday, but do not show your stop loss too aggressively because if you do that, just in New York session alone, you see
108 +|107 |00:20:09,270 ~-~-> 00:20:18,150 |many times there's a deep retracement going into the swing that ensued in London open, only to give an another additional selling opportunity to go into London,
109 +|108 |00:20:18,480 ~-~-> 00:20:29,010 |close. So you're going to need to learn to trust the fact that price is going up and down up and down in a natural ebb and flow of price action, it still will
110 +|109 |00:20:29,010 ~-~-> 00:20:38,610 |slide in the home around wanting clothes if there's not a market reversal profile. And we'll talk about that later on. But allowing the market room to
111 +|110 |00:20:38,610 ~-~-> 00:20:47,730 |move and not trail your stop loss so aggressively. This will permit your positions to remain open and not get stopped out prematurely without seeing your
112 +|111 |00:20:47,730 ~-~-> 00:21:03,810 |maximum price objectives fulfilled. Alright, we've talked about the market maker profile. Okay, this is the ICT market maker profile by model. And by looking at
113 +|112 |00:21:03,810 ~-~-> 00:21:11,700 |this, okay, we've discussed how there's an accumulation phase in here. And then price starts to break out, it comes back up many times and retest it doesn't
114 +|113 |00:21:11,700 ~-~-> 00:21:18,630 |have to do that. But it can give you another edition often trade entry short in here or reflection pattern and sells off goes down makes a low, okay, and then
115 +|114 |00:21:18,630 ~-~-> 00:21:28,470 |reverses and gives you a breakout, maybe a retest or Apple trade entry here to get in sync with that move. Once market structure is broken to the upside, and
116 +|115 |00:21:28,470 ~-~-> 00:21:36,630 |then you have another additional sometimes secondary position to get out long. And you're going to reach back for this previous consolidation where stocks
117 +|116 |00:21:36,630 ~-~-> 00:21:48,060 |would be resting prior to these highs in here. And you see that unfolding this premise or understanding of how price swings. In other words, it's engineered to
118 +|117 |00:21:48,060 ~-~-> 00:22:01,350 |go lower to go higher. Okay. If you are an intraday trader this same premise to price action study repeats itself on an intraday scale. Okay, we've looked at
119 +|118 |00:22:01,350 ~-~-> 00:22:10,470 |higher timeframe models of this price action, okay over this fractal pattern, but it also repeats itself on intraday price action, okay, and those that have
120 +|119 |00:22:10,470 ~-~-> 00:22:20,490 |been students on my work for last few years on baby pips should recognize this is very similar to my classic buy day for the London open. Now initially, I did
121 +|120 |00:22:20,490 ~-~-> 00:22:32,130 |a London open video module, it was very, very brief. It had zero audio in it. Because I was really I'll be honest, I was reluctant and releasing some of this
122 +|121 |00:22:32,130 ~-~-> 00:22:40,830 |material until there was a lot more structure and education behind it all because I would have never been able to keep up with the level of emails and
123 +|122 |00:22:40,830 ~-~-> 00:22:49,200 |questions. What does this mean? What does that mean? So now I think that I have a lot of my foundational information presented already available widely
124 +|123 |00:22:49,200 ~-~-> 00:22:57,960 |available on YouTube and baby Phipps, there's many resources you can go to, to further educate yourself on what I'm referring to in this video module. Okay, so
125 +|124 |00:22:59,250 ~-~-> 00:23:06,690 |I knew doing it the first time, it probably was going to be not as effective as I was hoped it would be. But I think this time around those that have seen the
126 +|125 |00:23:06,690 ~-~-> 00:23:18,720 |first one will agree that this is probably a far better approach to teaching the blended open session with my tools. And obviously, looking at the ICT cell model
127 +|126 |00:23:18,720 ~-~-> 00:23:29,580 |for the market maker profile. When we see price run up like this, this is this is a rally, okay? Now where's the engineer price up and then trades lower and so
128 +|127 |00:23:29,580 ~-~-> 00:23:43,680 |onwards, they make it go up to go lower? Okay, so there's a accumulation, okay, there is a rapid price increase, okay, and then you see a sell off. And it goes
129 +|128 |00:23:43,680 ~-~-> 00:23:49,230 |back to the previous consolidation and or below. So let's take a look at
130 +|129 |00:23:50,790 ~-~-> 00:24:00,060 |what this looks like, with price structure. Okay, now, if we're going to be an intraday trader, and this charts are similar to the previous video module, okay,
131 +|130 |00:24:00,060 ~-~-> 00:24:09,360 |but it will allow me to teach the same premise because price action is price action. It doesn't matter if you're looking at a one minute chart, 15 minute
132 +|131 |00:24:09,360 ~-~-> 00:24:16,020 |chart daily, weekly, monthly, it doesn't matter, the same concepts hold true. There's going to be some things that we talked about in this video module that
133 +|132 |00:24:16,020 ~-~-> 00:24:25,050 |is generically inherent with intraday trading, because of the nature of that type, that type of trading. But by far and large, most of everything you're
134 +|133 |00:24:25,050 ~-~-> 00:24:34,620 |seeing here is just a compilation of all the things on the higher timeframe applied to a smaller time frame. Let's assume we have this price structure here
135 +|134 |00:24:34,620 ~-~-> 00:24:44,250 |and this may be a daily chart, or could be a four hour chart. Okay? But really, for day trading purposes, if you focus in on the daily, four hour and one hour,
136 +|135 |00:24:44,550 ~-~-> 00:24:56,880 |that's your universe for your foundational premise behind your directional bias. Okay, everybody sends an email if you talk about on the forums all the time, and
137 +|136 |00:24:56,880 ~-~-> 00:25:04,890 |this is great, Michael, I see your videos is absolutely phenomenal. All the tools work so wonderful unless I have my chart, I've just been exposed to your
138 +|137 |00:25:04,890 ~-~-> 00:25:12,120 |work, and it's great. But here's the problem we're having. I'm looking at the chart on the hard right edge of my screen. And I don't know where it's going to
139 +|138 |00:25:12,120 ~-~-> 00:25:19,830 |go from there. So you have to look on the left side of your chart, guys. It sounds counterproductive, okay, because you're looking at what's already
140 +|139 |00:25:19,830 ~-~-> 00:25:30,870 |happened. But that tells you where price is trying to go. Okay? We've seen price, obviously trade lower, okay, and the market structure breaks in here.
141 +|140 |00:25:31,260 ~-~-> 00:25:41,790 |Okay, once the price starts to retrace in here and rallies up, we have now a possible swing low forming, okay, this is a daily chart, or if you have an
142 +|141 |00:25:41,790 ~-~-> 00:25:52,170 |intermediate term low if this is a four hour chart, okay? Or it could be even a long term low, okay, doesn't matter, just understanding where we are in terms of
143 +|142 |00:25:52,170 ~-~-> 00:26:02,430 |price action. So if we see this example, let's say we're looking at a four hour chart, okay, maybe this is a four hour zoomed in, and we've came down on a daily
144 +|143 |00:26:02,430 ~-~-> 00:26:12,900 |into a higher level support line, okay, so this may be a big figure, it could be a mid figure, it could be a whole list of things, okay, a monthly high, now
145 +|144 |00:26:12,900 ~-~-> 00:26:21,270 |trade it back down to a support. But price comes down to it. And simply because it trades to it, there's two ways of doing that, if this is a higher timeframe,
146 +|145 |00:26:21,360 ~-~-> 00:26:32,310 |resistance and support level, okay, and we're expecting price to provide support here. We don't always just assume just buying it because it gets to a level like
147 +|146 |00:26:32,310 ~-~-> 00:26:41,400 |that you can, there's nothing wrong with that. It takes a lot of guts. But if you're willing to wait for price to give you clues, it may have in fact, assumed
148 +|147 |00:26:42,030 ~-~-> 00:26:50,250 |Long's in here about the smart money, we wait for the market structure to break and you see that by swing high being broken here. Okay, so if you see a four
149 +|148 |00:26:50,250 ~-~-> 00:26:59,250 |hour break in market structure, and you see the price retrace back down, you would expect to see it not go back down below this low. So you would see an
150 +|149 |00:26:59,250 ~-~-> 00:27:06,990 |optimal trade entry in here. So now obviously, you would expect to see what to unfold higher prices. Okay. So from this point on, what you're, what you're
151 +|150 |00:27:06,990 ~-~-> 00:27:15,600 |watching is you're watching market structure. Okay? You're watching how market structure unfolds, the swings, all these types of things that we've looked at in
152 +|151 |00:27:15,600 ~-~-> 00:27:28,650 |the higher timeframe just simply utilize here as well for our intraday daily premise, okay. Now, by looking at price like that, okay, what we're going to be
153 +|152 |00:27:28,650 ~-~-> 00:27:36,090 |doing is we're gonna be expecting and anticipating highs and lows to be forming, okay? When this market structure break here happens, and we have a shift in
154 +|153 |00:27:36,090 ~-~-> 00:27:47,670 |market structure to bullishness, okay. Again, assuming this is a nice support level, price comes down because it's an optimal trade entry. This low that forms
155 +|154 |00:27:47,670 ~-~-> 00:27:56,580 |the optimal trade entry in this little swing down. There's, this could be the new day here. Okay, this could be the southern New rate, there could be the new
156 +|155 |00:27:56,580 ~-~-> 00:28:06,180 |day. And then we had this move lower, do you understand as my Judas swing, when it dips down from that, initially, that's the move that you buy in London open,
157 +|156 |00:28:06,600 ~-~-> 00:28:16,500 |and you expect the daily rains to fulfill gone to the upside, okay? Same thing happens here. If we've seen price drop down lower in here, this could be a New
158 +|157 |00:28:16,500 ~-~-> 00:28:18,330 |York open market reversal
159 +|158 |00:28:19,620 ~-~-> 00:28:27,480 |and trade lower and it can then this could be a new day here or could be a new day rain here, where we have the Asian range and then there's a dip down initial
160 +|159 |00:28:27,900 ~-~-> 00:28:35,550 |drop or Judas rally, I'm sorry, decline, setting up a buying opportunity and we'll talk about that as we go. But you want to be looking for opportunities to
161 +|160 |00:28:35,550 ~-~-> 00:28:46,770 |get in sync. Okay, getting sync with this market structure that's bullish. Now when we have these very clean, discernible price legs like this price swings,
162 +|161 |00:28:47,010 ~-~-> 00:28:54,630 |this is an impulse move. Again when you see price run up like this, okay? You're gonna be expecting a retracement at some point. And when you start to see that
163 +|162 |00:28:54,630 ~-~-> 00:29:04,770 |unfold, you don't pull your fib from the low to the high end look for these obvious levels of retracements. Okay, now you can be a day trader, okay with
164 +|163 |00:29:04,770 ~-~-> 00:29:14,280 |market structure corrections, okay and retracements and be shorter you shorting in here and in here, but never losing sight of or possibly disagree chasing
165 +|164 |00:29:14,280 ~-~-> 00:29:23,070 |deeper with this higher timeframe for our market structure or it could be a daily market structure we're looking at here. So by having the higher timeframe
166 +|165 |00:29:23,070 ~-~-> 00:29:32,970 |daily, four hour and one hour charts up and mapping out price swings and where we are impossible levels of retracement using your fibs this level could be an
167 +|166 |00:29:32,970 ~-~-> 00:29:43,230 |optimal trade entry by based on this low to high could be a 62% retracement level. Or if you use this low here on market structure to this high, this could
168 +|167 |00:29:43,230 ~-~-> 00:29:52,320 |be a 62 or even a sweet spot you're setting I'm setting tracing a level okay. So when we get to these levels, it could be starting to trade here and midnight
169 +|168 |00:29:52,320 ~-~-> 00:30:02,220 |time in New York and then you had that swing lower into Judas. Okay and comes right down blows out an old bow comes down in Maybe even find support like we'd
170 +|169 |00:30:02,220 ~-~-> 00:30:10,470 |see here. And then this is your mum and open buy to get in sync with a higher time frame premise. And you would let your profits run going towards, you know,
171 +|170 |00:30:10,620 ~-~-> 00:30:18,540 |higher prices going into New York open in London close and respectively. Maybe if you're gonna hold it overnight, this is why you would do it. Okay, maybe not
172 +|171 |00:30:18,540 ~-~-> 00:30:26,760 |so much holding on long in here overnight because you're expecting a deeper retracement. But all the things we learned in the higher timeframe and market
173 +|172 |00:30:26,760 ~-~-> 00:30:40,260 |structure and other videos. All those things culminate with intraday price action and utilizing these higher timeframe premises in intraday action. Now,
174 +|173 |00:30:41,460 ~-~-> 00:30:53,370 |the easiest, most sweetest setups come when you trade between intermediate term and higher timeframe, long term price swings, and those being the blue circles
175 +|174 |00:30:53,370 ~-~-> 00:30:53,640 |here.
176 +|175 |00:30:55,440 ~-~-> 00:31:05,160 |Okay, and we've talked about this in the previous video module, so I'm not going to go over what these are. Do some study guys go and research this, okay, but
177 +|176 |00:31:05,160 ~-~-> 00:31:16,920 |the enemy at term lows and here if we trade off of the term low and get long, only trading long and open, Long's expecting Judas swings lower. Okay, trading
178 +|177 |00:31:16,920 ~-~-> 00:31:26,610 |becomes absolutely easy. You know, what you're looking for, you know, your overall premise is to be expecting bullish prices. Okay, so now what do we do,
179 +|178 |00:31:27,000 ~-~-> 00:31:39,060 |we apply the concepts that we learned in how to capture explosive price moves in the Forex market video module, where I teach that between Sunday's opening and
180 +|179 |00:31:39,300 ~-~-> 00:31:49,740 |Tuesday's London open, there's a high probability of the weekly higher low to form by Tuesdays on an open, okay, if it doesn't form by Tuesday's long and open
181 +|180 |00:31:49,740 ~-~-> 00:31:58,740 |generally between Tuesday and Wednesdays, London open, the weekly range higher low will establish itself. Okay, so now think about this. Let's assume for a
182 +|181 |00:31:58,740 ~-~-> 00:32:05,520 |moment we've mapped out this is a higher time frame support level, we had market structure shift here, price comes down the optimal trade entry, we're in a
183 +|182 |00:32:05,520 ~-~-> 00:32:16,830 |bullish leg. Okay. Every time price comes down, we're still expecting price to provide us a buying opportunity. Okay. Now, what are we looking for going up?
184 +|183 |00:32:17,100 ~-~-> 00:32:24,390 |Well, obviously, we had this price like here from this high down to this low to contend with this is the range that we're trading within. Okay, so you have to
185 +|184 |00:32:24,390 ~-~-> 00:32:32,310 |have your fibs pulled up. And this is going to be your 79 or 62, or even sweetspot, based on the swing from here to here. But also notice there's a
186 +|185 |00:32:32,310 ~-~-> 00:32:44,790 |smaller wave and price action from here to here. So you have your range from this high, down to this low. So when price gets up to around that 62 to 79%
187 +|186 |00:32:44,790 ~-~-> 00:32:55,980 |tracing level on here, that may be a reason to, you know, be more cautious taking London open buy signals. Okay. So, using the inside the range concepts we
188 +|187 |00:32:55,980 ~-~-> 00:33:03,750 |learned earlier in the year in a webinar, okay, the same premise holds true here, you still have to look at your previous price swings and how they map out,
189 +|188 |00:33:04,170 ~-~-> 00:33:12,150 |you can build your premise based on that just simply just doing this alone will give you high odds probabilities to base your trading on. So now think about
190 +|189 |00:33:12,150 ~-~-> 00:33:21,780 |what we've done. We've established a premise that expected bullish prices based on the market shift and structure here. So when we move on one above this
191 +|190 |00:33:21,780 ~-~-> 00:33:28,800 |previous swing high here and start to retrace, gets an awful tragedy and starts to trade higher, we have confirmation that we are in a bullish leg. Okay, now
192 +|191 |00:33:28,800 ~-~-> 00:33:37,290 |market structure is bullish. Okay. At this point here, market flow on all timeframes probably will be, you know, going up going up. So it makes trading
193 +|192 |00:33:37,320 ~-~-> 00:33:44,940 |easy. Now, you just simply wait for the setups to unfold in London open. And if you're a New York open trader, I'll toss this and just wait for your buy signals
194 +|193 |00:33:44,940 ~-~-> 00:33:57,720 |in here as well. Okay. But looking at how price trades at the London open, we would expect to see price drop down, okay, out of the Asian range. Or if it
195 +|194 |00:33:57,720 ~-~-> 00:34:03,930 |breaks out initially, if it trades back down into the Asian range look to trade optimal trade entries while it's inside of the Asian range. And we'll talk more
196 +|195 |00:34:03,990 ~-~-> 00:34:16,740 |about that and when we have the actual diagrams and such. But if we are trading with that premise, it's bullish. And it's Sunday. What's your homework,
197 +|196 |00:34:17,040 ~-~-> 00:34:29,100 |hopefully leading you to that we're probably going to see the low the weak form by Tuesday. Okay, so if you're really capable of trading the London open and you
198 +|197 |00:34:29,100 ~-~-> 00:34:40,380 |can sit down and be a part of Mondays London open or Tuesday's long and open if you have that capabilities to do that timewise and it fits your lifestyle. Many
199 +|198 |00:34:40,380 ~-~-> 00:34:49,380 |times you can actually end up buying the low of the week. And I can tell you that's absolutely mind blowing when you look at how many times it can be done.
200 +|199 |00:34:49,890 ~-~-> 00:35:00,180 |And even if you get a small portion of the weekly range, okay if the average daily range is 100 pips, the weekly average range could be several 100 pips So
201 +|200 |00:35:00,180 ~-~-> 00:35:11,250 |if you get, you know, small portion of that you can look at anywhere between 150 to 300 pips, you know, as a potential pitfall. So, even though we're supposed
202 +|201 |00:35:12,240 ~-~-> 00:35:19,350 |specifically talking about day trading here, I want you to use these concepts to kind of broaden your perspective and say, Hey, I can use these concepts really
203 +|202 |00:35:19,350 ~-~-> 00:35:28,230 |to get in sync with these higher timeframe trades, and not, you know, exit the trades too prematurely and allow my new trades to pay me more.
204 +|203 |00:35:34,110 ~-~-> 00:35:46,710 |Alright, so now thinking with this premise in mind, if we're bullish, okay, this could be a one hour chart. Okay. We're looking at a possible bullish move, going
205 +|204 |00:35:46,710 ~-~-> 00:35:57,150 |higher. We see price trading lower. Okay. Now, if the previous chart shows that market structure shift bullishness, if we zoom down to a one hour chart, we can
206 +|205 |00:35:57,150 ~-~-> 00:36:04,230 |actually start seeing smaller swing highs. Okay, that would, you know, assume that we have this higher timeframe support level, if that market structure
207 +|206 |00:36:04,230 ~-~-> 00:36:16,380 |breaks here on an hourly basis on smaller short term, we can start seeing more time sensitive price swings, okay, and price is still going to swing, you know,
208 +|207 |00:36:16,410 ~-~-> 00:36:26,700 |based on price action, okay, you're not going to change where it's going to go. But your perspective on looking at it, okay, can be really skewed based on the
209 +|208 |00:36:26,700 ~-~-> 00:36:36,420 |timeframe you're looking at. So if we're looking at just simply this high to this low, this could have been long you into believing this could be a sell off,
210 +|209 |00:36:36,540 ~-~-> 00:36:45,060 |okay? Or optimal trade that you sell. But having a hard time frame premise in mind and this being a heart level key support level, okay, that we talked about
211 +|210 |00:36:45,060 ~-~-> 00:36:53,670 |earlier. The premise is that we're expecting market structure to shift the bullishness. Okay, so every time we see a retracement, all that's going to do is
212 +|211 |00:36:53,670 ~-~-> 00:37:01,650 |likely set up a new buying opportunity. So every time price creates a new range, we just run our fib from that and look for the 62% retracement level optimal
213 +|212 |00:37:01,650 ~-~-> 00:37:12,270 |trade entries. Okay? Obviously, you would be looking for reflections as well, this could be a very reflection is this low in here down to this low here could
214 +|213 |00:37:12,330 ~-~-> 00:37:20,190 |present a optimal trade entry. Yes here, but it could also be a reflection as well. So don't just think in terms of you always have to have the optimal trade
215 +|214 |00:37:20,190 ~-~-> 00:37:32,640 |entry. It's the easiest one I teach. But other patterns like you could have ICT grill in here to tie to trend following it could be a stinger in here. Okay, all
216 +|215 |00:37:32,640 ~-~-> 00:37:39,840 |these types of patterns. Now, you know, if you have this higher timeframe premise in mind, you start looking for these patterns to unfold with that
217 +|216 |00:37:39,840 ~-~-> 00:37:49,680 |directional premise. Okay, so having that unfold on an hourly basis, and having your dynamic support resistance levels carried from the higher time frame down
218 +|217 |00:37:49,680 ~-~-> 00:38:04,050 |to the shorter timeframes. You can expect more clear price swings based on the hourly chart, your weekly management of price swings intra week should be
219 +|218 |00:38:04,050 ~-~-> 00:38:12,120 |focused on the one hour timeframe. So once you arrive based on the daily and four hour charts, you can really work the rest of the week off of an hourly
220 +|219 |00:38:12,120 ~-~-> 00:38:19,770 |chart, just using support resistance off that measuring swings using your fibs. But when you enter the trades, when you take action, and you're actually part of
221 +|220 |00:38:19,770 ~-~-> 00:38:27,840 |the trades, you manage those trades on a 15 minute timeframe. Okay, so have that in your notes. I know you're probably saying Why didn't you give me a screen
222 +|221 |00:38:27,870 ~-~-> 00:38:35,580 |shot with all this stuff. And now it's so much easier just to cut and paste now. Keep yourself on log, keep yourself a journal, make, make your own notes, okay,
223 +|222 |00:38:35,580 ~-~-> 00:38:44,370 |if you write it down, you have a more higher chance of remembering it versus me just talking about it. Okay. So again, you're looking at the daily and four hour
224 +|223 |00:38:44,400 ~-~-> 00:38:51,780 |looking for market structure to break give you higher timeframe, directional premise, where's price trying to reach, okay? Then once you have a market
225 +|224 |00:38:51,780 ~-~-> 00:38:59,670 |structure break, okay, it makes the trading very easy for you in terms of directional premise, because that's the direction you're gonna look to trade in.
226 +|225 |00:38:59,910 ~-~-> 00:39:08,070 |Okay, based on the daily and Endor, four hour, the four hour is going to be much more sensitive. And so, you know, if you have a little bit firmer understanding
227 +|226 |00:39:08,070 ~-~-> 00:39:16,110 |of price action, you could probably just live on the four hour. But also make sure that you don't forget, there's probably daily support resistance and weekly
228 +|227 |00:39:16,140 ~-~-> 00:39:27,660 |support resistance and monthly even support and resistance, that may be a factor that you thought to contend with. So we're not negating the benefit of having a
229 +|228 |00:39:27,660 ~-~-> 00:39:35,220 |hard time frame top down analysis. But if you're just starting off and you just want to get here and start chasing action, this is you know, obviously I can do
230 +|229 |00:39:35,220 ~-~-> 00:39:44,370 |it a daily in four hour. But once you have your directional premise based on those timeframes, you live on the daily chart. I'm sorry, the the 60 minute
231 +|230 |00:39:44,370 ~-~-> 00:39:54,750 |chart for your intra week swings is watching the one hour chart and then watch how price swings within that timeframe. But if you enter the trades, you manage
232 +|231 |00:39:54,750 ~-~-> 00:40:02,520 |them on a 15 minute timeframe. Okay, you managed to trade on the 15 minute chart and that's because If you are at some point going to move your stop loss and
233 +|232 |00:40:02,520 ~-~-> 00:40:13,800 |trail it, you want to using the previous two swing lows prior to where the price is trading at now for instance, say we're here and we saw price run up on both
234 +|233 |00:40:13,800 ~-~-> 00:40:21,720 |these highs and we're long. Here's a swing low. And here's a swing low and assuming since the 15 minute chart now No, I mean probably be confusing you
235 +|234 |00:40:21,750 ~-~-> 00:40:25,050 |talking about them timeframes, but just go back over the video,
236 +|235 |00:40:25,200 ~-~-> 00:40:35,700 |just rewind it okay, but this this low and this low here is to swing lows prior to current price action. So assuming price is trading here breaking out above
237 +|236 |00:40:35,700 ~-~-> 00:40:45,810 |these highs here more long something back here or even here. This swing low and this swing low are the last two swing lows, most recently formed, my trailing
238 +|237 |00:40:45,810 ~-~-> 00:40:56,760 |stop loss will be to 10 pips below this low here. Okay, so now we're talking managing my long with a stop 10 pips below the second most recent swing low,
239 +|238 |00:40:57,120 ~-~-> 00:41:08,520 |okay. And obviously just reversing it, assuming that we got short back in here, okay. And prices now breaking down here, below this low, this is one swing low.
240 +|239 |00:41:09,540 ~-~-> 00:41:19,920 |And this swing low here. Now, the caveat is, is you gotta have a higher swing low than the first one. So this one would not be considered this swing high. In
241 +|240 |00:41:19,920 ~-~-> 00:41:27,150 |this swing high. This is your second one back, it's onwards as prices moving in your favor. On a 15 minute timeframe, I would look for the most recent swing
242 +|241 |00:41:27,150 ~-~-> 00:41:35,730 |high on a 15 minute basis if I'm short, and then go back and find the higher swing high than that on a 15 minute basis. And I would trail my stop loss 15
243 +|242 |00:41:35,730 ~-~-> 00:41:44,130 |pips, I'm sorry, 10 pips above that. Okay, so my stop would be above here. And I would continue to do that as price trades lower. Okay, so in this case, and once
244 +|243 |00:41:44,130 ~-~-> 00:41:52,740 |we break this low here, trading right into that support, this would be the swing high, and in previous swing high. So this is the most recent swing high at this
245 +|244 |00:41:52,740 ~-~-> 00:42:00,840 |point here. So it'd be 10 pips above this, you can see even though this is a crude diagram and drawing, check out price action on some of the moves that's
246 +|245 |00:42:00,870 ~-~-> 00:42:09,090 |recently happened and use a 15 minute time frame. And you'll see that many times it keeps you in the trade. So that's how we break our charts down. That's the
247 +|246 |00:42:09,090 ~-~-> 00:42:17,130 |timeframe. Use usage and utilization, how we look from the higher timeframe down to the lower timeframe and we would look for the one hour chart to create its
248 +|247 |00:42:17,130 ~-~-> 00:42:28,080 |own support resistance as well. Okay, and then obviously looking for upside objectives based on swings on the one hour chart, and 15 minute chart. Okay, so
249 +|248 |00:42:28,080 ~-~-> 00:42:34,560 |when your fibs on these swings here for getting extensions and expansions will serve you well.
250 +|249 |00:42:41,430 ~-~-> 00:42:57,960 |Okay, we are looking at what you see typically unfold in London open. Alright, we're looking at a price move here. Okay, we have an Asian range. And we'll see
251 +|250 |00:42:58,140 ~-~-> 00:43:09,120 |typically a initial pop up out of the Asian range as a fake out this is when they tag the pending orders for those that may be short. They'll take those
252 +|251 |00:43:09,120 ~-~-> 00:43:15,510 |individuals out and those that want to be long on a breakout system. Okay, they'll run the market up there and trip those individuals into the market.
253 +|252 |00:43:16,020 ~-~-> 00:43:23,340 |Because that will create a pocket of liquidity. Okay, deals will take it up there. it'll fill it, okay. And then they'll treat it lower. Okay, this is the
254 +|253 |00:43:23,340 ~-~-> 00:43:33,870 |engineered price decline. Okay, now think what was going on over here? price has been rallying. Okay, if we're in a bullish market structure, okay? Don't think
255 +|254 |00:43:33,870 ~-~-> 00:43:43,110 |just obsessing because we're falling out of bed in London opens early session, that's not going to always equate to it's going straight to Hades. You think
256 +|255 |00:43:43,110 ~-~-> 00:43:52,410 |about price action when it's going lower. Okay, it's going to go lower to make a low and then trade higher. Okay. So this is the price engineering that takes
257 +|256 |00:43:52,410 ~-~-> 00:44:05,490 |place. Over here, this low back here may be a previous day's low, it could be a previous week's low, it could be a higher time frame support resistance level,
258 +|257 |00:44:05,490 ~-~-> 00:44:19,200 |it could be a trinity level, it could be pivots, it could be a whole list of things that cause the price as price action to rally up from that point. But you
259 +|258 |00:44:19,200 ~-~-> 00:44:29,130 |would run your fib from this point here to the highest high either inside of this day, or wherever high it's formed here. And you would pull that fib here
260 +|259 |00:44:29,130 ~-~-> 00:44:40,920 |and then you would look for optimal trade entry to pullback into as the Judas swing breaks down. That's how you time your London open buys. assuming you're
261 +|260 |00:44:40,920 ~-~-> 00:44:50,430 |having a bullish market structure and everything is expected to go higher. This level here needs to have something associated with it. Okay, words when you see
262 +|261 |00:44:50,430 ~-~-> 00:44:58,890 |the fib from the low to here. In other words, this price swing up here we're trading inside the range. Okay. So as price starts to retrace, we're trading
263 +|262 |00:44:58,890 ~-~-> 00:45:08,970 |within the suitable range. That low to high or ever higher highs over here in this example the previous highs, this is a little bit slightly lower and it
264 +|263 |00:45:08,970 ~-~-> 00:45:18,210 |starts to trade down. This is the Judas swing. Okay, now its price is trading lower. Okay? Now when you see that happening in London open and you're part of
265 +|264 |00:45:18,240 ~-~-> 00:45:28,470 |like chat rooms or forums, you'll see a those that are brave, they'll come out and say that I'm short, assuming this is the cable, British Pound USD pair,
266 +|265 |00:45:28,740 ~-~-> 00:45:39,630 |don't come on board and say I'm short now. And you know, I'm selling and I'm on I'm on 10 pips profit 10 1215 pips profit, it's going straight down. Yeah, well,
267 +|266 |00:45:40,680 ~-~-> 00:45:50,430 |right around two to three o'clock in the morning, New York time will happen is is the market participants that knew what's going on, they understand key
268 +|267 |00:45:50,430 ~-~-> 00:46:03,330 |support resistance levels, the understand price structure, okay, there is a huge interest in buying this sensitive, high level, key support resistance level.
269 +|268 |00:46:03,660 ~-~-> 00:46:13,410 |Okay, so when I take it down here, there's gonna be a large entity that we call smart money that's going to come in here and accumulate all kinds of long
270 +|269 |00:46:13,410 ~-~-> 00:46:24,240 |positions here. So we're waiting for this to unfold when price does this, okay, we buy right here. Okay, this is the optimal trade entry in London open. Now you
271 +|270 |00:46:24,240 ~-~-> 00:46:33,690 |can look at a one hour chart and see this, okay, but predominantly, it's a 15 and five minute chart, you'll see this type of action. And when it comes down to
272 +|271 |00:46:33,690 ~-~-> 00:46:44,070 |it, and you see a five minute optimal trade entry at that level here, this is where you buy, okay? Now, also, when price is trading down here, you want to
273 +|272 |00:46:44,070 ~-~-> 00:46:57,330 |look at correlated pair SMT. You want to look at USD x SMT divergence gives some kind of framework to establish some confidence behind this level, simply because
274 +|273 |00:46:57,330 ~-~-> 00:47:03,600 |we have a range here and it trades back down to that level and it's bullish, it could still go down a little bit lower than that and still, you know, ultimately
275 +|274 |00:47:03,600 ~-~-> 00:47:10,680 |trade off or even continue going lower. That's where you stop loss orders. Because we don't know for certain our analysis is going to be fruitful. But this
276 +|275 |00:47:10,680 ~-~-> 00:47:18,720 |is how we would be buying the market in London open. And obviously as price starts to move up, we will be looking for the highest that's been established in
277 +|276 |00:47:18,720 ~-~-> 00:47:28,380 |the early London open session to be trailed, I'm sorry, tripped and taken out as upside objectives. Okay. That's again, that's assuming that we have a bullish
278 +|277 |00:47:28,380 ~-~-> 00:47:31,290 |market structure and higher prices are likely.
279 +|278 |00:47:35,220 ~-~-> 00:47:43,440 |Alright, so let's look at that a little bit more closely. Okay, we have an Asian range here that unfolds. And we're assuming that we are in a bullish market
280 +|279 |00:47:43,440 ~-~-> 00:47:51,000 |structure, okay, we're expecting higher prices, we're expecting the market to go lower to go higher. Okay. So we're just going to trade down to a higher level
281 +|280 |00:47:51,000 ~-~-> 00:48:00,960 |support level. Now this level down here may be again, could be a previous day's low, it could be a previous day's high, it could be a previous day's New York
282 +|281 |00:48:00,960 ~-~-> 00:48:12,360 |session level. Okay, because New York was the most recent one outside of the asian session, it could be a previous month high, okay, or weekly, high or low,
283 +|282 |00:48:12,630 ~-~-> 00:48:22,230 |something that along with a higher time frame premise, okay, there's going to be something that contributes to the fact that this is a low forming. But before
284 +|283 |00:48:22,230 ~-~-> 00:48:32,040 |the Asian range is broken many times again, we'll see that rally up, it's a turtle soup sell. Again, if you're a scalper, you could see this as an
285 +|284 |00:48:32,040 ~-~-> 00:48:41,280 |opportunity to scalp and go lower, I don't trade like that. Okay, once the Asian range lows taken out, many times you'll see it retrace and test that level
286 +|285 |00:48:41,280 ~-~-> 00:48:50,970 |again. And this could be your short, okay, if you again are a scalper with the expectation to take profits down here at the higher time frame support level,
287 +|286 |00:48:51,120 ~-~-> 00:49:00,390 |okay, but I am not that type of trader. This is the setup that I have. Okay, if I'm going to bullish market structure, I'm expecting higher prices. Okay. And I
288 +|287 |00:49:00,390 ~-~-> 00:49:10,080 |understand that looking at that previous slide, we had, this decline was taking me inside the previous range, okay, or at Priceline that we just discussed. When
289 +|288 |00:49:10,080 ~-~-> 00:49:18,690 |we get down and create an optimal trade entry in here, that's where I'm buying Okay, cuz we have a higher low here in this example, this this is the cable on
290 +|289 |00:49:18,690 ~-~-> 00:49:30,840 |the fiber this may have created a lower low here, low in fiber, okay, so you may not see the s&p divergence there, but you may end up seeing a higher high in the
291 +|290 |00:49:30,840 ~-~-> 00:49:41,040 |dollar. So you'd end up with a USD x SMT divergence here to support the long on the cable. Obviously, when you see the market structure shift on the intraday
292 +|291 |00:49:41,040 ~-~-> 00:49:52,320 |basis, if you miss the optimal optimal trade entry here, you can look for another opportunity to get get long before it starts to go off on a tear. And
293 +|292 |00:49:52,320 ~-~-> 00:50:02,190 |obviously we'd be looking for average daily range to fulfill. I do not consider average daily range now average daily range is A tool that you can get off of
294 +|293 |00:50:03,030 ~-~-> 00:50:09,990 |most platforms, you just pull up the indicator in this look at what the average daily range is for the last five days is what I use. Predominantly, I'm not
295 +|294 |00:50:09,990 ~-~-> 00:50:23,730 |going to go into other ranges of average daily range, I use others, but most of my analysis is based on a five day average daily range. So I'll be utilizing the
296 +|295 |00:50:23,760 ~-~-> 00:50:37,080 |MT four tool that I feared on the internet, for my average daily range for a five day basis, I don't even load that up until I get to 10 GMT. Okay, so have
297 +|296 |00:50:37,080 ~-~-> 00:50:47,880 |that in your notes at 10 GMT, that is when you open up your average daily range, okay, and then whatever that level it shoots for, for a projected high, that's
298 +|297 |00:50:47,880 ~-~-> 00:50:55,560 |what you'd be aiming for for the day. Now, it doesn't always get to those levels. Okay, many times, it'll probably fall short of it. And the meantime, go
299 +|298 |00:50:55,560 ~-~-> 00:51:05,340 |well beyond and we'll talk about that later on in the video. But unless average daily range has been fulfilled, if we get an retracement in the New York
300 +|299 |00:51:05,340 ~-~-> 00:51:13,590 |session, and by pulling your Fibonacci based on swings from the London open session, we could get another optimal trade entry in here to get long and
301 +|300 |00:51:13,590 ~-~-> 00:51:21,990 |fulfilled the rest of the day. So if you're a type of trader that wants to add to winning trader winning trades that are open, this is one way you could do it.
302 +|301 |00:51:22,020 ~-~-> 00:51:31,470 |Or you could take profits here, you know, and then doctor take another smaller position in here. Okay, on that avikii technique, you should trade like that.
303 +|302 |00:51:31,470 ~-~-> 00:51:39,660 |But there's a lot of freedom involved by having this understanding, because you could apply it to whatever type of trader you're me. If I went long down here,
304 +|303 |00:51:39,660 ~-~-> 00:51:47,250 |my stop loss would remain below the daily low. Okay, so that's one of the important things that if you're a day trader, and you're trading London,
305 +|304 |00:51:48,510 ~-~-> 00:51:57,300 |I do not show my stop loss inside of the range. Once the lows formed in London, whatever the short term lows are, I could care less. Okay, because I know that
306 +|305 |00:51:57,330 ~-~-> 00:52:05,220 |New York is likely to have a retracement rather deep sometimes. So that's why I take some profits, when we trade back up and blow out the Asian range highs
307 +|306 |00:52:05,220 ~-~-> 00:52:16,530 |again, once we dip down, I'm thinking sometimes 30% 50% most cases and sometimes even 70% of my trade off at that level. Now what what establishes that, that
308 +|307 |00:52:16,530 ~-~-> 00:52:29,790 |parameter? Well, if I'm trading against the hard timeframe premise, I'm taking 70% off here. Okay, if I'm trading with the higher premise in mind, I'm taking
309 +|308 |00:52:29,790 ~-~-> 00:52:39,240 |30% off here and leaving 70% one, we're reaching for the average daily range or higher, okay? If I'm just really not sure I'm not comfortable, you know, I'll
310 +|309 |00:52:39,240 ~-~-> 00:52:48,960 |take 50% off of the trade here and leave 50% of the initial entry on long, but my stop loss stays down here at breakeven, once it goes inside of this daily
311 +|310 |00:52:48,960 ~-~-> 00:52:56,580 |range, it should never come back down to that low again. If it does the trades no good. Now, if it doesn't take me out, I could care less. Hopefully I've made
312 +|311 |00:52:56,580 ~-~-> 00:53:07,680 |first profit in here, or I've moved my stop up progressively enough to limit my risk. Even though my initial stop losses is 30. At some point, as prices start
313 +|312 |00:53:07,710 ~-~-> 00:53:17,820 |to move here, I'm trimming it down to 20 1510. Five to break even eventually, okay, but I'm not in a hurry to move my stop loss up to break even, I'm not not
314 +|313 |00:53:17,820 ~-~-> 00:53:27,120 |trying to lock in profits, because you'll learn by doing this over a period of time that price action intraday many times. They know how you're going to trade
315 +|314 |00:53:27,120 ~-~-> 00:53:33,990 |and you're going to trail your stop loss. And so if you're right on day, and they can tag you out and you're long, think about it, what's your stop loss
316 +|315 |00:53:33,990 ~-~-> 00:53:43,680 |going to be? It's a stop for selling, okay, it's going to become a sell order at the market, who's going to take the other side of that trade smart money. So if
317 +|316 |00:53:43,680 ~-~-> 00:53:54,330 |they can take it back down there and stop you out, and your stop becomes a market order to sell that that stop being triggered. Your long gets sold to them
318 +|317 |00:53:55,020 ~-~-> 00:54:02,190 |because they're going to buy Okay, and then they'll be able to own they'll be on the move going higher going in the average daily range for London close up in
319 +|318 |00:54:02,190 ~-~-> 00:54:14,670 |here in terms of time and price theory. Alright, now, many times you'll see price give you this buying opportunity. And this may look a little bit different
320 +|319 |00:54:14,670 ~-~-> 00:54:21,660 |here. But what I want to bring to your attention is maintenance, it'll trade up bullishly and you'll be long in the long and open. But if we trade up into a
321 +|320 |00:54:21,660 ~-~-> 00:54:32,520 |higher level key or weekly or daily or even monthly resistance level up here, in the trades up into that in to the New York or London close timeframe. Many times
322 +|321 |00:54:32,520 ~-~-> 00:54:40,080 |this will set up a market reversal profile. Okay? So have that in mind. Don't Don't marry the vein simply because you have a bullish market structure,
323 +|322 |00:54:40,080 ~-~-> 00:54:46,200 |everything's bullish and you're being profitable. Don't hold on to these things thinking they're always gonna go to the moon, okay, because this is a scenario
324 +|323 |00:54:46,200 ~-~-> 00:54:55,230 |that might unfold and if you hold on to your position with too much of the initial position open, you could end up seeing some of your profits, erode and
325 +|324 |00:54:55,230 ~-~-> 00:55:01,290 |maybe become a losing trade. Again, this illustrates the notion that Why stocks are important.
326 +|325 |00:55:06,540 ~-~-> 00:55:15,180 |Okay, obviously, if we're looking at the reverse, and you would see price rallying up here, this is going to illustrate an hourly chart, we would be
327 +|326 |00:55:15,180 ~-~-> 00:55:27,870 |looking for the price swings on an hourly basis intra week to permit our trading based on a daily and four hour premise or directional bias. Once the hourly
328 +|327 |00:55:27,870 ~-~-> 00:55:36,930 |chart gets in sync with that, it just makes your London open trades very, very easy. And again, this is not to teach you how to trade every single London open,
329 +|328 |00:55:37,050 ~-~-> 00:55:48,060 |it's mainly focused on the real easy setups, okay. And by easy, I don't mean guaranteed profits, okay. So everything I'm teaching you here is for you to
330 +|329 |00:55:48,060 ~-~-> 00:55:53,850 |utilize on a demo account. Okay, so you got to pay attention, these risk disclaimers in the beginning of the videos, they're there for a reason, they're
331 +|330 |00:55:53,850 ~-~-> 00:56:00,750 |not for decoration. Everything I'm showing you is obviously just for informational purposes. So utilize a minute demo account, I don't want credit
332 +|331 |00:56:00,750 ~-~-> 00:56:07,440 |for you making money. And I certainly don't want credit for you losing money. So we got to be responsible with this information. So with all that said, this
333 +|332 |00:56:07,440 ~-~-> 00:56:14,910 |being an hourly chart, we got to look at the swings on an hourly basis. And while this illustrates a rather crude example of price, action, all the things
334 +|333 |00:56:14,910 ~-~-> 00:56:25,200 |that we said that were true about break in market structure going bullish. Same thing happens here. When markets are breaking down on this high here, every
335 +|334 |00:56:25,290 ~-~-> 00:56:35,460 |rally up is going to be a possible area to look for selling scenarios in London open. So looking at that. This is what you end up seeing many times, you'll see
336 +|335 |00:56:35,580 ~-~-> 00:56:44,760 |this swing down and there's a rally up in London open, you'll get a optimal trade entry many times trade up into this specific point here. Okay, but
337 +|336 |00:56:44,790 ~-~-> 00:56:55,410 |initially, you'll see the Asian range in here. There's initial drop down, pending orders that are tripped, okay, those that are caught, net sellers, okay.
338 +|337 |00:56:56,160 ~-~-> 00:57:04,170 |are dragged against the coals and then all of a sudden, they go into a deeper range retracement here optimal trade entry. Once you see this higher timeframe
339 +|338 |00:57:04,170 ~-~-> 00:57:14,160 |resistance level, again, much in the same capacity we used for the buy scenario, the same rules apply here for the sell, you would look for the London open kill
340 +|339 |00:57:14,160 ~-~-> 00:57:25,440 |zone in here. Two o'clock in the morning, three o'clock and four o'clock in the morning, New York time or six to eight, or six to nine GMT. That window of
341 +|340 |00:57:25,440 ~-~-> 00:57:33,210 |opportunity for the London open. That's the kills when you would look at this see this actual high form. And this many times will be the actual high of the
342 +|341 |00:57:33,210 ~-~-> 00:57:44,220 |day. And then you would just wait for price to try to move into that new york open timeframe or London close. So looking at it a little bit more detail again,
343 +|342 |00:57:44,310 ~-~-> 00:57:52,470 |nuts in the same way we did with the buy. We had the Asian range in here, the initial drop, this doesn't have to happen. But when price rallies up out of the
344 +|343 |00:57:52,470 ~-~-> 00:58:04,650 |Asian range, many times you'll see a dip back down into it, giving you a optimal trade entry here and then rallies on up into a previous higher level support
345 +|344 |00:58:04,650 ~-~-> 00:58:12,750 |resistance level again mutsun. The same way we talked about for the buy scenario, this setup in here. Okay, this setup in here is what you're hunting.
346 +|345 |00:58:12,960 ~-~-> 00:58:20,850 |You don't want to see this. This right here is the Judas you anticipate this when the market structure is bearish When You're Expecting lower prices and
347 +|346 |00:58:20,850 ~-~-> 00:58:32,460 |higher timeframe. So this is how you fade rallies you sell rallies, you hear that so that market proverb, you know buy low, sell high and sell high and buy
348 +|347 |00:58:32,460 ~-~-> 00:58:41,070 |lower. Okay, well, you selling rallies and buying dips. This is what we do we expect this rally to take place and we don't chase it. Okay, if you're a scalper
349 +|348 |00:58:41,070 ~-~-> 00:58:49,950 |Sure, you can do that. I'm not a scalper. Okay, I'll teach you how to intraday trade with the London Express, okay, you're trying to be in here for an intraday
350 +|349 |00:58:49,950 ~-~-> 00:58:58,350 |run of several hours, not a couple of minutes. But if you see the optimal trade entry in here form, okay, once the price starts to break down, it may give you
351 +|350 |00:58:58,350 ~-~-> 00:59:07,110 |another secondary optimal trade entry and many times you'll see that unfold. But usually about this time, it's 10 GMT, and it's really on their way, okay. And
352 +|351 |00:59:07,110 ~-~-> 00:59:18,300 |it'll rally back up into a deep retracement using a London open high short term high, you can see that on a five or 15 minute timeframe. That's where you'll get
353 +|352 |00:59:18,300 ~-~-> 00:59:27,330 |your optimal trade entry for secondary entry or continuation pattern for the daily trend in the New York open session, and then it'll reach for the average
354 +|353 |00:59:27,330 ~-~-> 00:59:37,170 |daily range down here five, the average daily range. So the initial rally obviously again is assuming that we have a bearish market structure. Okay, the
355 +|354 |00:59:37,170 ~-~-> 00:59:51,330 |rally up is to Judas into a known key resistance level. Okay. Now this level could be pivots with trinities. It could be a big figure. It could be a previous
356 +|355 |00:59:51,330 ~-~-> 00:59:59,820 |week's high or low. It could be any time frame support resistance. Okay, look at the trading key support resistance levels video module, okay. It gives you all
357 +|356 |00:59:59,820 ~-~-> 01:00:07,140 |kinds have ideas of what levels you should be paying attention to. This also, okay, and we talked about Asian range earlier.
358 +|357 |01:00:09,030 ~-~-> 01:00:22,980 |When I learned Chris Lori's approach to applying the Asian range to forex. I learned debt if I used the previous week's Asian range for Friday, and that was
359 +|358 |01:00:22,980 ~-~-> 01:00:31,470 |the previous week's Friday's Asian range. And the beginning of the week, Asian rain Sunday and Monday. Okay, there's Asian ranges, extend those levels
360 +|359 |01:00:31,470 ~-~-> 01:00:39,930 |throughout the entire week, many times those levels act as support resistance level. And I don't know why. So don't ask me. I just noticed one of those little
361 +|360 |01:00:39,930 ~-~-> 01:00:48,990 |things in the marketplace. I'm not sure if crystal Laurie knows about it. But I just I applied to not only my intraday, in other words, by having these Asian
362 +|361 |01:00:48,990 ~-~-> 01:00:56,970 |range highs and lows. Okay. Laurie teaches to extend that throughout the entire day. Well, I took that premise and just said, Okay, well, what happens if I take
363 +|362 |01:00:56,970 ~-~-> 01:01:05,490 |it and apply it across the week on key days being the beginning and the ending of the week? And I'll let you decide whether or not there's any merit to it or
364 +|363 |01:01:05,490 ~-~-> 01:01:11,460 |not, because I think you're going to be smiling. When you see what happens. It doesn't matter what pair, okay, just look at the Asian range high and low on
365 +|364 |01:01:11,460 ~-~-> 01:01:22,080 |Monday, and Sunday. And on Friday and extended across the week. So you're using previous Friday. And this week's Sunday and Monday's Asian range high and low.
366 +|365 |01:01:22,260 ~-~-> 01:01:31,290 |Okay. And many times I've used the previous week, Sunday and Monday is Asian range high and low to to draw it across. But it's you'll be fascinated to see
367 +|366 |01:01:31,290 ~-~-> 01:01:39,510 |how how that many times creates dynamic support resistance levels organic, I don't know why. But obviously, there's a lot of dealing that goes on around
368 +|367 |01:01:39,510 ~-~-> 01:01:48,330 |there's levels and you know, somebody in years doing their business. But you'll be looking for obviously, price trading lower reaching for the average daily
369 +|368 |01:01:48,330 ~-~-> 01:01:58,380 |rains, again, not loading the average daily range indicator, until 10 GMT, which is 5am my time on New York. I live in Maryland. But speaking in terms of New
370 +|369 |01:01:58,380 ~-~-> 01:02:07,440 |York City guys understands East Coast time. And basically, you know, as we get short, we don't trail our stop loss inside of the daily range. We keep it at
371 +|370 |01:02:07,440 ~-~-> 01:02:19,200 |breakeven, and we take profits at logical areas of support and fib extensions. Okay, so by doing that, it's easy to absorb retracements on open portions of the
372 +|371 |01:02:19,200 ~-~-> 01:02:26,070 |initial trade, because you've already banked some profits. So even if it comes all the way back and takes us out breakeven, we've made money on the day. So
373 +|372 |01:02:26,070 ~-~-> 01:02:34,110 |that's when it gets to, you really want to see that your trading get to the level of not feel like you have to be right. And if the trades go against you,
374 +|373 |01:02:34,140 ~-~-> 01:02:43,350 |so what either didn't lose much or you take first profit or a portion of your profits. And if it goes to breakeven, it's never really breakeven now as you
375 +|374 |01:02:43,350 ~-~-> 01:02:57,660 |profit. Alright, obviously, London open sell signals obviously end up being just the catalyst for a market rate inertial profile. So if you see what looks like a
376 +|375 |01:02:57,660 ~-~-> 01:03:04,620 |classic sell off, okay, many times it will trade down into a higher timeframe, monthly, weekly or daily support level that you have to be mindful of okay,
377 +|376 |01:03:04,620 ~-~-> 01:03:13,080 |because this dip down here, the trading, intraday may be a part of a higher timeframe price leg that's maybe over here, okay, and then trades down, and
378 +|377 |01:03:13,080 ~-~-> 01:03:21,060 |there's not a higher level optimal trade entry by scenario. Okay, so all these things have to be considered. And it goes along with what we've discovered in
379 +|378 |01:03:21,060 ~-~-> 01:03:31,200 |the inside arrange webinar this year. And I know you probably heard me say this several times. But you can find it on the millionaires traders guild thread on
380 +|379 |01:03:31,200 ~-~-> 01:03:41,190 |baby pips, it's in, in a thread in the beginning of the posts, the very first post of that thread, you can see the link for that, that webinar. Again, it's
381 +|380 |01:03:41,190 ~-~-> 01:03:50,580 |inside the range. So there's concepts of using Fibonacci and where price structure moves from one high to load me a term high to low and working within
382 +|381 |01:03:50,700 ~-~-> 01:04:00,360 |predetermined ranges will allow you to expect or at least anticipate these types of events. So while this may be a profitable London, open sell scenario, don't
383 +|382 |01:04:00,360 ~-~-> 01:04:12,210 |be blind. Okay, to this unfolding, it could very easily sneak up on you if you're not looking at the higher time frame premise. So when do you avoid the
384 +|383 |01:04:12,210 ~-~-> 01:04:23,070 |one open? Okay, well, me specifically, I try to limit my on open trading around a few obvious reasons. If interest rate announcements are coming out, obviously,
385 +|384 |01:04:23,070 ~-~-> 01:04:32,940 |I'm on the sidelines waiting. And if there's a key speech, keynote speaker or a big deal, come comes across the news wires that hey, look, you know, so and so's
386 +|385 |01:04:32,940 ~-~-> 01:04:42,990 |gonna be talking about whatever economy and it has a direct impact to my specific pair, I won't trade. If it's a holiday, I won't trade. If it's
387 +|386 |01:04:42,990 ~-~-> 01:04:51,240 |approaching a holiday many times, I'll second guess trading. And if there's a global or economic event that takes place, it surprises the markets. I won't I
388 +|387 |01:04:51,240 ~-~-> 01:05:00,780 |won't trade that day, not even new, even New York. And obviously, if my weekly range objectives are achieved, there's no need. There's no For me to go in here
389 +|388 |01:05:00,780 ~-~-> 01:05:03,420 |and try to chase it, I'll just hopefully have a position that open.
390 +|389 |01:05:04,920 ~-~-> 01:05:13,290 |And occasionally, if the Asian range is greater than 50 pips, you know, I will just wait for the New York session to open. So anything greater than 40 kind of
391 +|390 |01:05:13,290 ~-~-> 01:05:21,480 |like puts me on the sidelines either expecting a real deep optimal trade entry back in the Asian range for London open, or others simply wait for the New York
392 +|391 |01:05:21,480 ~-~-> 01:05:26,250 |session because it's much easier to trade that and let the smarter people figure out what London's done.
393 +|392 |01:05:33,660 ~-~-> 01:05:42,900 |Alright, let's take a look at an example when average daily range doesn't matter, and how we can use that concept and maybe ferret out greater profit
394 +|393 |01:05:42,900 ~-~-> 01:05:43,440 |potential.
395 +|394 |01:05:49,350 ~-~-> 01:06:01,950 |Okay, folks, let's look at an example. How average daily range doesn't always equate to the actual higher low of the day. A lot of folks have a lot of
396 +|395 |01:06:02,940 ~-~-> 01:06:13,230 |preconceived expectations on one. And I think they're a little aggressive and outside the spectrum of reality. If it was like this all the time, obviously, it
397 +|396 |01:06:13,230 ~-~-> 01:06:23,220 |would be just everybody would be doing it. But if we are in sync with the higher timeframe premise, okay, and we're expecting a bullish move, and I'll zoom in
398 +|397 |01:06:23,310 ~-~-> 01:06:35,160 |and show you the intraday version of the swing we're looking at in the intraday action, and then watching, zoom out and I'll show you why this takes place. It
399 +|398 |01:06:35,160 ~-~-> 01:06:43,260 |just so happened today was an example of this very phenomenon taking place. The average daily range in here has been fulfilled today. That's what the indicated
400 +|399 |01:06:43,260 ~-~-> 01:06:54,030 |that you see in my videos and in this one as well, has already turned blue. Okay, so that means the average daily rate has been activated. The average daily
401 +|400 |01:06:54,030 ~-~-> 01:07:06,030 |range, okay, low is overlapping with the Asian range low here. So we have the Asian range here. Okay, it's a little less than 30 pips. So let's take a look at
402 +|401 |01:07:06,030 ~-~-> 01:07:23,310 |that. And you'll see that we have 28 pips for the Asian range. Okay, nice, healthy little angel range, nothing extrapolated or too large 40 or less is, in
403 +|402 |01:07:23,310 ~-~-> 01:07:39,540 |my opinion, a good Asian range. We have a optimal trade entry in here. Okay, that you could have utilized. Let's take a look at that. Okay, pull that up to
404 +|403 |01:07:39,660 ~-~-> 01:07:48,900 |the Asian range high. And we have perfect symmetry in here comes right down to the seven Langston tracing level. And reax breaks short terminal swing highs in
405 +|404 |01:07:48,900 ~-~-> 01:07:59,280 |here. So now if you've missed this one, you can utilize the smaller market structure swings in here. On the intraday, again, this is a five minute chart.
406 +|405 |01:08:00,810 ~-~-> 01:08:11,070 |And utilizing that one could arrive at a buy signal in here around the 160 30 level. Now if you're looking to buy that and take first profit here based on
407 +|406 |01:08:11,070 ~-~-> 01:08:21,420 |optimal trade entry rules, and then looking to take profits up here on the average daily range. You may see the average daily range comes in today at
408 +|407 |01:08:21,480 ~-~-> 01:08:30,750 |160 57. So if you're looking just to take profits up here, and old highs, there's nothing wrong with that don't collapse the entire position because
409 +|408 |01:08:31,080 ~-~-> 01:08:37,830 |you're trading with the higher timeframe direction. Okay, we're gonna look at that in a moment. But let's just watch what happens as market trades on
410 +|409 |01:08:37,830 ~-~-> 01:08:50,880 |throughout the day. rallies up gives you an opportunity to take profits here at the optimal trade entry swing. Price comes up blows out these highs. Okay, so
411 +|410 |01:08:50,880 ~-~-> 01:09:04,050 |yeah, this would have been a very handsome opportunity to take profits going nice little intraday, 20 pips, scalp, but look what happens. Here's your average
412 +|411 |01:09:04,050 ~-~-> 01:09:13,500 |daily range here. Okay, so if you're taking profits with the expectation, this is probably gonna be the high of the day, you miss out on all this. Okay, so
413 +|412 |01:09:13,500 ~-~-> 01:09:23,250 |when you're in when you're in sync with the higher timeframe premise, okay, watch what's sometimes can unfold, you have the range here. And what we're
414 +|413 |01:09:23,280 ~-~-> 01:09:36,570 |measuring here is the average daily range, the average daily range. When that breaks, you can sometimes see twice the average daily range, you can see how we
415 +|414 |01:09:36,570 ~-~-> 01:09:46,230 |have a little minor reaction here and still it continues to move on higher. Okay. So now watch what also you can do with Fibonacci. If you have the average
416 +|415 |01:09:46,230 ~-~-> 01:09:55,920 |daily range here and it's broken and you still hold on to a position and starts to tear starts to run even further in your anticipated direction. If you use
417 +|416 |01:09:55,920 ~-~-> 01:10:09,120 |that average daily range high, pull your fib down to it. Okay, you have the 200 extension in here, look how that overlaps very handsomely right there. Okay. So
418 +|417 |01:10:09,120 ~-~-> 01:10:20,580 |that would be a very nice objective to take profits. Okay? Nothing wrong with that. Add to that also, if you use your expansion tool,
419 +|418 |01:10:26,730 ~-~-> 01:10:34,290 |okay, just go here and grab your expansion, do the same similar type thing. But we're going to use the low here and it would just reverse it for cell signals.
420 +|419 |01:10:34,830 ~-~-> 01:10:48,600 |We're going to pull the Fibonacci expansion tool up using the average daily range range itself. Okay, let's get this off here. It may not be bothering you,
421 +|420 |01:10:48,600 ~-~-> 01:11:01,350 |but man, is it bothering me? The 200 expansion right here nailing the high the day. Okay, so you can see how these concepts they blend. They're rather generic,
422 +|421 |01:11:01,350 ~-~-> 01:11:12,750 |and we have used them for years now on baby pips and our YouTube channel. These are concepts that are repeatable when they go on and on and on and on. But do
423 +|422 |01:11:12,750 ~-~-> 01:11:22,350 |not be hung out with simply expecting the average daily rains to new bracket the market and can always just because the average daily rain suggested price may
424 +|423 |01:11:22,350 ~-~-> 01:11:29,820 |stop here, it may pause like it does here. And I'm sure there's a lot of traders in here that took this and said, Well, you know, this is probably it, we're
425 +|424 |01:11:29,820 ~-~-> 01:11:39,060 |hitting old resistance and there, there you go. Well, let's take a step back. Okay. And I'm going to do is zoom out to a 15 minute chart. Okay, you start
426 +|425 |01:11:39,060 ~-~-> 01:11:52,050 |seeing rather handsome price objectives. Okay, watch what happens here, we have this swing down to this swing here, we have the month 62 extension, up in this
427 +|426 |01:11:52,080 ~-~-> 01:12:00,900 |same general area here. So we have a lot of Confluence to suggest there's possibly something else up there in terms of profit taking. If we look at the
428 +|427 |01:12:00,900 ~-~-> 01:12:16,560 |larger price swing here on this fractal. We have this range here. And look what happens we have the 162. Extension, nailing the high again, so we have a
429 +|428 |01:12:16,560 ~-~-> 01:12:26,760 |confluence of a lot of factors, looking at 161 15 as a likely upside objective, which is well beyond the average daily range high here that's expected to simply
430 +|429 |01:12:26,760 ~-~-> 01:12:38,340 |using one tool by itself isn't enough, guys, you got to have a confluence of things suggesting that this may be in fact, going higher. And you see that
431 +|430 |01:12:38,340 ~-~-> 01:12:49,620 |happening here. So let's go out even further. And look at an hourly chart, you can see how we had made a longer term swing low here, moves on higher we
432 +|431 |01:12:49,620 ~-~-> 01:12:59,250 |consolidated and look what we've formed in here. Okay, do you see the ascending triangle here, ascending triangle, we have price bouncing up against that 160 50
433 +|432 |01:12:59,250 ~-~-> 01:13:11,460 |level, okay, at the same time, okay, at the same time, we expected the dollar to break below its support level, okay, because we have a descending triangle here.
434 +|433 |01:13:11,640 ~-~-> 01:13:21,690 |So we have symmetry between the two markets. Okay. So we're looking for the 7970 level, or 7950 levels respectively on the dollar. So we're expecting weakness on
435 +|434 |01:13:21,690 ~-~-> 01:13:30,660 |the dollar, it's going to translate into higher prices on the cable. And you see that unfold here. Okay. So when you're trading in direction of the higher time
436 +|435 |01:13:30,660 ~-~-> 01:13:39,510 |frame premise, don't be lulled into thinking that the average daily range is going to block the market from trading any further because it will not okay,
437 +|436 |01:13:39,510 ~-~-> 01:13:49,770 |it's just one tool. Okay? It's one premise to build your trading ideal. And now, there's nothing wrong with taking profits at the average daily range. But again,
438 +|437 |01:13:50,100 ~-~-> 01:14:01,710 |this is the reason why we just scale some out because we don't know if it's going to be halting, you know, at that price level or not continuing obviously,
439 +|438 |01:14:01,950 ~-~-> 01:14:13,050 |today's being a perfect example that so go over your charts and look at when the average daily range was broken, and was not able to hold price back and I think
440 +|439 |01:14:13,050 ~-~-> 01:14:20,640 |you'll be pleasantly surprised. It's always in the sense that you're trading with the hard timeframe premise. I just hope it's been a blessing to you. And
441 +|440 |01:14:20,760 ~-~-> 01:14:23,160 |sincerely Absolutely. I wish you good luck.
4 4  
5 -2
6 -00:01:36,750 ~-~-> 00:01:39,930
7 -module four trading plan development series is Part Seven
8 -
9 -3
10 -00:01:40,170 ~-~-> 00:01:44,910
11 -last in the series, right we're looking at pretty much a
12 -
13 -4
14 -00:01:44,910 ~-~-> 00:01:46,950
15 -very generic approach to how
16 -
17 -5
18 -00:01:47,370 ~-~-> 00:01:48,060
19 -I trade.
20 -
21 -6
22 -00:01:48,960 ~-~-> 00:01:52,920
23 -Obviously you could build upon this is simply just an idea
24 -
25 -7
26 -00:01:53,220 ~-~-> 00:01:57,960
27 -to use as a foundation for your demo trading. And the
28 -
29 -8
30 -00:01:57,960 ~-~-> 00:02:00,450
31 -premise behind this style trading is obviously still within
32 -
33 -9
34 -00:02:00,780 ~-~-> 00:02:03,390
35 -the scope of trading in sync with the market structure,
36 -
37 -10
38 -00:02:03,510 ~-~-> 00:02:08,040
39 -okay? The duration of these types of trades obviously are
40 -
41 -11
42 -00:02:08,550 ~-~-> 00:02:13,260
43 -intraday, and a portion of which after being scaled out
44 -
45 -12
46 -00:02:13,290 ~-~-> 00:02:18,390
47 -maybe held overnight, and if you use the previous modules
48 -
49 -13
50 -00:02:18,390 ~-~-> 00:02:22,020
51 -also we can use these concepts as well as interdict entering
52 -
53 -14
54 -00:02:22,440 ~-~-> 00:02:25,290
55 -into higher timeframe, trades as well.
56 -
57 -15
58 -00:02:26,280 ~-~-> 00:02:27,210
59 -The average PIP
60 -
61 -16
62 -00:02:27,450 ~-~-> 00:02:31,590
63 -return is anywhere between 20 to 100 pips per trade. And if
64 -
65 -17
66 -00:02:31,590 ~-~-> 00:02:35,520
67 -you look at the overall approach, when we look for buy
68 -
69 -18
70 -00:02:35,520 ~-~-> 00:02:38,820
71 -signals, we're trying to trade in the observance of a
72 -
73 -19
74 -00:02:38,850 ~-~-> 00:02:42,660
75 -bullish market maker profile or fractal. And we're gonna be
76 -
77 -20
78 -00:02:42,660 ~-~-> 00:02:46,410
79 -looking for price patterns and confluences around support
80 -
81 -21
82 -00:02:46,410 ~-~-> 00:02:50,430
83 -levels. And the optimal trade entry is going to be utilized
84 -
85 -22
86 -00:02:50,430 ~-~-> 00:02:56,190
87 -for entry price, and fib extensions for profits. The entry
88 -
89 -23
90 -00:02:56,220 ~-~-> 00:02:59,970
91 -and exits are simply based on time and price theory and
92 -
93 -24
94 -00:03:00,000 ~-~-> 00:03:02,850
95 -We'll talk more about that as we go through. And much like
96 -
97 -25
98 -00:03:02,850 ~-~-> 00:03:05,280
99 -everything I teach. The opposite is said for the sell
100 -
101 -26
102 -00:03:05,280 ~-~-> 00:03:07,740
103 -signals, we're going to be trying to trade in observance of
104 -
105 -27
106 -00:03:07,740 ~-~-> 00:03:11,040
107 -a bearish market maker profile or fractal. We're going to
108 -
109 -28
110 -00:03:11,040 ~-~-> 00:03:14,130
111 -look for price patterns and conferences around resistance
112 -
113 -29
114 -00:03:14,130 ~-~-> 00:03:18,570
115 -levels. And we utilizing the optimal trade entry for entry
116 -
117 -30
118 -00:03:18,570 ~-~-> 00:03:22,920
119 -price and using fib extensions for profits. And our entry
120 -
121 -31
122 -00:03:22,920 ~-~-> 00:03:25,920
123 -and exit are based on time and price theory as well.
124 -
125 -32
126 -00:03:26,940 ~-~-> 00:03:28,260
127 -Risking no more than 2%
128 -
129 -33
130 -00:03:28,290 ~-~-> 00:03:31,530
131 -maximum per trade. And we're gonna be utilizing risk
132 -
133 -34
134 -00:03:31,530 ~-~-> 00:03:37,560
135 -management and control procedures as we discussed in how to
136 -
137 -35
138 -00:03:37,560 ~-~-> 00:03:44,220
139 -handle losses trading module, and I'll have links at the end
140 -
141 -36
142 -00:03:44,220 ~-~-> 00:03:49,410
143 -of this video. So you guys can utilize those for amplified
144 -
145 -37
146 -00:03:49,410 ~-~-> 00:03:51,090
147 -education if it's the first time you've seen
148 -
149 -38
150 -00:03:51,450 ~-~-> 00:03:52,200
151 -my work.
152 -
153 -39
154 -00:03:54,540 ~-~-> 00:03:58,770
155 -Alright, looking at the overall concepts, okay, the key
156 -
157 -40
158 -00:03:58,770 ~-~-> 00:04:01,560
159 -points and content concepts and tools we're going to utilize
160 -
161 -41
162 -00:04:01,920 ~-~-> 00:04:05,070
163 -for this module is obviously, hedging upon your
164 -
165 -42
166 -00:04:05,070 ~-~-> 00:04:10,710
167 -understanding of price action. Now, do not be intimidated if
168 -
169 -43
170 -00:04:10,710 ~-~-> 00:04:13,830
171 -this goes over your head the first time you see it. It's for
172 -
173 -44
174 -00:04:13,860 ~-~-> 00:04:18,270
175 -folks that are basically students of the work I've already
176 -
177 -45
178 -00:04:18,300 ~-~-> 00:04:21,930
179 -produced and shared for over the last few years on baby pips
180 -
181 -46
182 -00:04:21,960 ~-~-> 00:04:28,440
183 -calm in their forums. If you do not have the foundational
184 -
185 -47
186 -00:04:28,440 ~-~-> 00:04:31,350
187 -information that's found in my thread on newbie Island,
188 -
189 -48
190 -00:04:31,710 ~-~-> 00:04:35,460
191 -titled what every new and or aspiring forex trader still
192 -
193 -49
194 -00:04:35,490 ~-~-> 00:04:39,060
195 -wants to know. The first post of that thread has the
196 -
197 -50
198 -00:04:39,300 ~-~-> 00:04:44,700
199 -framework for most of what you're seeing in this module. By
200 -
201 -51
202 -00:04:44,700 ~-~-> 00:04:47,280
203 -utilizing those tools and spending some time with it and
204 -
205 -52
206 -00:04:47,280 ~-~-> 00:04:50,730
207 -studying price action and not indicators, you'll you'll
208 -
209 -53
210 -00:04:50,730 ~-~-> 00:04:57,510
211 -build a backbone to flesh out the rest of your price action
212 -
213 -54
214 -00:04:57,570 ~-~-> 00:05:02,250
215 -trading. Now, obviously The next stage when we're going to
216 -
217 -55
218 -00:05:02,250 ~-~-> 00:05:05,370
219 -be using intraday trading your understanding of the Asian
220 -
221 -56
222 -00:05:05,370 ~-~-> 00:05:11,400
223 -range, okay? The Asian range was introduced to me by Chris
224 -
225 -57
226 -00:05:11,400 ~-~-> 00:05:17,880
227 -Laurie. He's one of the well respected individuals in the
228 -
229 -58
230 -00:05:18,090 ~-~-> 00:05:22,050
231 -Forex industry. He's the only one that really I support in
232 -
233 -59
234 -00:05:22,050 ~-~-> 00:05:26,790
235 -terms of teaching. A lot of the things he he goes along with
236 -
237 -60
238 -00:05:26,790 ~-~-> 00:05:30,420
239 -in terms of technical analysis and approaches to trading are
240 -
241 -61
242 -00:05:30,420 ~-~-> 00:05:33,480
243 -very close to what I do. It's not exactly the same but it's
244 -
245 -62
246 -00:05:33,480 ~-~-> 00:05:38,340
247 -close to there. There probably is out there. You even though
248 -
249 -63
250 -00:05:38,340 ~-~-> 00:05:42,720
251 -he is a paid educator, he does have free resources and
252 -
253 -64
254 -00:05:42,780 ~-~-> 00:05:45,420
255 -information is made available. At the time of this
256 -
257 -65
258 -00:05:45,420 ~-~-> 00:05:49,680
259 -recording. You can reach him at Chris laurie.com. He has
260 -
261 -66
262 -00:05:49,680 ~-~-> 00:05:51,750
263 -Twitter accounts and all that stuff just like I do.
264 -
265 -67
266 -00:05:53,130 ~-~-> 00:05:53,760
267 -The main
268 -
269 -68
270 -00:05:54,720 ~-~-> 00:06:00,450
271 -premise to my intraday trading is based on the direction of
272 -
273 -69
274 -00:06:00,450 ~-~-> 00:06:05,430
275 -the day, and also trading in the direction of the week.
276 -
277 -70
278 -00:06:05,700 ~-~-> 00:06:07,950
279 -Okay, so if I can trade in the higher timeframe direction
280 -
281 -71
282 -00:06:07,980 ~-~-> 00:06:12,930
283 -and have the daily bias in that same directional sense, my
284 -
285 -72
286 -00:06:13,170 ~-~-> 00:06:18,360
287 -odds of success are greatly amplified. Okay. And as a day
288 -
289 -73
290 -00:06:18,360 ~-~-> 00:06:21,390
291 -trader, when I used to trade the futures market, I trade the
292 -
293 -74
294 -00:06:21,390 ~-~-> 00:06:25,770
295 -bonds and the s&p 500 back when it was $500 per
296 -
297 -75
298 -00:06:26,490 ~-~-> 00:06:28,230
299 -point or full handle,
300 -
301 -76
302 -00:06:29,370 ~-~-> 00:06:33,060
303 -I understood the premise of having the first hours range,
304 -
305 -77
306 -00:06:33,180 ~-~-> 00:06:35,790
307 -okay, and I use that as like, like the same thing that we're
308 -
309 -78
310 -00:06:35,790 ~-~-> 00:06:39,150
311 -gonna be discussing here for the Asian range, okay. And when
312 -
313 -79
314 -00:06:39,150 ~-~-> 00:06:43,200
315 -I went into trading forex, okay, I stopped trading from the
316 -
317 -80
318 -00:06:43,200 ~-~-> 00:06:46,770
319 -futures markets and moved into trading forex and I had that
320 -
321 -81
322 -00:06:46,770 ~-~-> 00:06:50,070
323 -same first hour premise going in and I used the midnight
324 -
325 -82
326 -00:06:50,070 ~-~-> 00:06:55,320
327 -timeframe from for me, okay, which is five GMT or New York
328 -
329 -83
330 -00:06:55,320 ~-~-> 00:06:56,280
331 -time, midnight
332 -
333 -84
334 -00:06:57,300 ~-~-> 00:06:58,710
335 -and I would bracket that
336 -
337 -85
338 -00:07:00,299 ~-~-> 00:07:03,659
339 -12 to one o'clock in the morning timeframe. And I would look
340 -
341 -86
342 -00:07:03,659 ~-~-> 00:07:07,499
343 -for breaks above no breaks below this particular range. Now,
344 -
345 -87
346 -00:07:07,799 ~-~-> 00:07:11,069
347 -obviously, I'm not going to teach that here because now the
348 -
349 -88
350 -00:07:11,069 ~-~-> 00:07:14,009
351 -concepts that I use with trading with the Asian range
352 -
353 -89
354 -00:07:14,009 ~-~-> 00:07:17,849
355 -obviously, like I said before, I learned from Chris Laurie.
356 -
357 -90
358 -00:07:19,109 ~-~-> 00:07:22,949
359 -I didn't know anything about the Asian range in terms of
360 -
361 -91
362 -00:07:22,979 ~-~-> 00:07:28,379
363 -forex, until I came across his material, so all the credit
364 -
365 -92
366 -00:07:28,679 ~-~-> 00:07:32,009
367 -is associated with me and my Asian range concepts really
368 -
369 -93
370 -00:07:32,009 ~-~-> 00:07:34,679
371 -should be attributed to Chris Laurie because that's where I
372 -
373 -94
374 -00:07:34,679 ~-~-> 00:07:38,129
375 -got it from. I'm not one to try to take credit for something
376 -
377 -95
378 -00:07:38,129 ~-~-> 00:07:42,209
379 -that I didn't either discover or come across on my own. So
380 -
381 -96
382 -00:07:42,239 ~-~-> 00:07:43,079
383 -again, because
384 -
385 -97
386 -00:07:43,079 ~-~-> 00:07:44,219
387 -of the type of
388 -
389 -98
390 -00:07:44,939 ~-~-> 00:07:49,559
391 -trader I am I, I like to give credit where credit's due, and
392 -
393 -99
394 -00:07:50,939 ~-~-> 00:07:54,539
395 -the Bible teaches that pattern my life after that as well.
396 -
397 -100
398 -00:07:54,539 ~-~-> 00:08:00,239
399 -So looking at how the Asian range and the Asian range is The
400 -
401 -101
402 -00:08:00,239 ~-~-> 00:08:06,959
403 -price action that takes place from GMT zero GMT to five GMT.
404 -
405 -102
406 -00:08:06,959 ~-~-> 00:08:12,179
407 -So if five hour window that to me is my Asian range. Okay.
408 -
409 -103
410 -00:08:12,749 ~-~-> 00:08:19,019
411 -And I use midnight New York time as my new day. Okay, I know
412 -
413 -104
414 -00:08:19,019 ~-~-> 00:08:21,179
415 -that may be confusing to somebody because it's been talked
416 -
417 -105
418 -00:08:21,179 ~-~-> 00:08:26,699
419 -about various mentors, various teachers resources will talk
420 -
421 -106
422 -00:08:26,699 ~-~-> 00:08:31,589
423 -about, you know, Wellington and Australia and all that being
424 -
425 -107
426 -00:08:31,589 ~-~-> 00:08:37,409
427 -the new financial day, not for ICT. Okay. I'm an East Coast
428 -
429 -108
430 -00:08:37,409 ~-~-> 00:08:42,029
431 -trader on the North American continent. So to me, the new
432 -
433 -109
434 -00:08:42,029 ~-~-> 00:08:45,839
435 -day for me is midnight, so I reference everything on
436 -
437 -110
438 -00:08:45,839 ~-~-> 00:08:50,729
439 -midnight. Okay my time but I also reference the previous
440 -
441 -111
442 -00:08:50,729 ~-~-> 00:08:56,759
443 -price action, okay, that means from zero hundred to five GMT
444 -
445 -112
446 -00:08:56,789 ~-~-> 00:08:58,649
447 -that price action still has to be
448 -
449 -113
450 -00:08:59,010 ~-~-> 00:09:00,540
451 -utilized in your network. analysis,
452 -
453 -114
454 -00:09:01,290 ~-~-> 00:09:04,890
455 -that being the asian session, so the range that it creates
456 -
457 -115
458 -00:09:04,920 ~-~-> 00:09:09,120
459 -Now granted, Asia still trades beyond five GMT or midnight
460 -
461 -116
462 -00:09:09,120 ~-~-> 00:09:13,290
463 -my time, but I'm only concerned about what it has done up to
464 -
465 -117
466 -00:09:13,290 ~-~-> 00:09:18,840
467 -that point. Now Chris Laurie, is he revealed in this webinar
468 -
469 -118
470 -00:09:18,840 ~-~-> 00:09:25,740
471 -we did together. Earlier in the year, he uses 530 GMT, which
472 -
473 -119
474 -00:09:25,740 ~-~-> 00:09:29,610
475 -would be equivalent to 1230 GMT. It's not so much you have
476 -
477 -120
478 -00:09:29,610 ~-~-> 00:09:32,280
479 -to be worried about that. You could use either one really,
480 -
481 -121
482 -00:09:32,580 ~-~-> 00:09:36,480
483 -but I stick to midnight time or five GMT
484 -
485 -122
486 -00:09:36,810 ~-~-> 00:09:37,980
487 -and the
488 -
489 -123
490 -00:09:38,040 ~-~-> 00:09:44,880
491 -the range that price builds between those two windows of
492 -
493 -124
494 -00:09:44,880 ~-~-> 00:09:50,160
495 -zero GMT to five GMT. That to me, okay is the accumulation
496 -
497 -125
498 -00:09:50,160 ~-~-> 00:09:54,300
499 -stage for daily range. Okay. In other words, market makers
500 -
501 -126
502 -00:09:54,300 ~-~-> 00:10:00,780
503 -for PR purposes preparing okay to see The market trades up
504 -
505 -127
506 -00:10:00,780 ~-~-> 00:10:04,740
507 -or down based on the orders that come in and start stacking
508 -
509 -128
510 -00:10:04,740 ~-~-> 00:10:07,440
511 -up, you have all kinds of orders that are placed that are
512 -
513 -129
514 -00:10:07,440 ~-~-> 00:10:11,190
515 -pending. Okay, on an institutional level, not so much retail
516 -
517 -130
518 -00:10:11,190 ~-~-> 00:10:13,050
519 -because the retail traders, you don't really have the
520 -
521 -131
522 -00:10:13,050 ~-~-> 00:10:16,590
523 -exposure to this type of information. But I promise you,
524 -
525 -132
526 -00:10:16,620 ~-~-> 00:10:19,410
527 -there's, there's a lot of orders that are stacking up in
528 -
529 -133
530 -00:10:19,410 ~-~-> 00:10:24,930
531 -Asia. Okay. And as we get closer to Frankfurt, and London
532 -
533 -134
534 -00:10:24,930 ~-~-> 00:10:32,400
535 -open, the the volatility, the liquidity, the interest, the
536 -
537 -135
538 -00:10:32,400 ~-~-> 00:10:35,400
539 -action, all those things start to build up. And you actually
540 -
541 -136
542 -00:10:35,400 ~-~-> 00:10:39,780
543 -have the biggest point of, you know, volume for the day
544 -
545 -137
546 -00:10:39,810 ~-~-> 00:10:43,020
547 -coming in around 2am or 3am.
548 -
549 -138
550 -00:10:43,470 ~-~-> 00:10:44,700
551 -New York time,
552 -
553 -139
554 -00:10:45,000 ~-~-> 00:10:49,350
555 -okay, which would be seven to eight GMT on the average.
556 -
557 -140
558 -00:10:50,550 ~-~-> 00:10:51,060
559 -Now,
560 -
561 -141
562 -00:10:52,380 ~-~-> 00:10:54,750
563 -this range that's assumed
564 -
565 -142
566 -00:10:55,380 ~-~-> 00:10:58,710
567 -by studying the high and low dis form between zero hundred
568 -
569 -143
570 -00:10:58,740 ~-~-> 00:11:05,370
571 -GMT and five GMT There's going to be initial stops and limit
572 -
573 -144
574 -00:11:05,370 ~-~-> 00:11:08,880
575 -orders beyond those specific points, and we're gonna talk
576 -
577 -145
578 -00:11:08,880 ~-~-> 00:11:12,810
579 -more about that when we get into it. But based on where we
580 -
581 -146
582 -00:11:12,810 ~-~-> 00:11:16,680
583 -go from there, okay is how I arrive at my London open
584 -
585 -147
586 -00:11:16,680 ~-~-> 00:11:17,130
587 -trades.
588 -
589 -148
590 -00:11:17,190 ~-~-> 00:11:18,690
591 -Okay, now I'll have a built
592 -
593 -149
594 -00:11:18,690 ~-~-> 00:11:23,610
595 -in premise before all these trades take place. I'm not just
596 -
597 -150
598 -00:11:23,610 ~-~-> 00:11:25,410
599 -looking at chart and saying, Okay, well now it's doing this,
600 -
601 -151
602 -00:11:25,410 ~-~-> 00:11:26,430
603 -I'm going to react now,
604 -
605 -152
606 -00:11:27,030 ~-~-> 00:11:28,860
607 -I've built a model. And we're going
608 -
609 -153
610 -00:11:28,860 ~-~-> 00:11:32,040
611 -to talk about that in here, and how you can utilize these
612 -
613 -154
614 -00:11:32,040 ~-~-> 00:11:35,220
615 -concepts to flesh out your own approach to trading this
616 -
617 -155
618 -00:11:35,250 ~-~-> 00:11:36,780
619 -specific timeframe
620 -
621 -156
622 -00:11:37,560 ~-~-> 00:11:38,160
623 -or time
624 -
625 -157
626 -00:11:39,030 ~-~-> 00:11:42,510
627 -session intraday, because I do believe that if you are
628 -
629 -158
630 -00:11:42,720 ~-~-> 00:11:46,740
631 -capable of trading this timeframe or this session, speaking
632 -
633 -159
634 -00:11:46,740 ~-~-> 00:11:49,950
635 -of which London is what I'm referring to, I think this
636 -
637 -160
638 -00:11:49,950 ~-~-> 00:11:54,480
639 -offers the highest in terms of probability for maximum PIP
640 -
641 -161
642 -00:11:54,630 ~-~-> 00:11:58,680
643 -hauls for the intraday trading. I think even though it's
644 -
645 -162
646 -00:11:58,710 ~-~-> 00:12:03,930
647 -probably scary to most individuals, I think it is the safest
648 -
649 -163
650 -00:12:03,990 ~-~-> 00:12:06,840
651 -one if you understand price action because it's very
652 -
653 -164
654 -00:12:06,840 ~-~-> 00:12:10,710
655 -forgiving if you understand what you're looking for. And the
656 -
657 -165
658 -00:12:10,920 ~-~-> 00:12:16,140
659 -the risk reward is, to me, in my opinion is optimal because
660 -
661 -166
662 -00:12:16,470 ~-~-> 00:12:18,450
663 -you're going to have risk in every session you trade in any
664 -
665 -167
666 -00:12:18,450 ~-~-> 00:12:21,390
667 -type of trading. Okay, but for me, since I use a standard 30
668 -
669 -168
670 -00:12:21,390 ~-~-> 00:12:24,570
671 -PIP stop. That's based on the premise that the average daily
672 -
673 -169
674 -00:12:24,570 ~-~-> 00:12:27,600
675 -range across the board on the majors is about 100 pips per
676 -
677 -170
678 -00:12:27,600 ~-~-> 00:12:30,300
679 -day. Now, obviously, it'll fluctuate up and down, but
680 -
681 -171
682 -00:12:30,300 ~-~-> 00:12:33,600
683 -generally 100 pips is pretty much the safe bet that that's
684 -
685 -172
686 -00:12:33,600 ~-~-> 00:12:38,160
687 -the average daily range. So I'm using essentially a third of
688 -
689 -173
690 -00:12:38,670 ~-~-> 00:12:43,020
691 -the average daily range for a stop. So if I'm trading with
692 -
693 -174
694 -00:12:43,020 ~-~-> 00:12:47,640
695 -the premise that I'm trying to catch the high the day. If
696 -
697 -175
698 -00:12:47,640 ~-~-> 00:12:50,880
699 -I'm wrong, I'm going to really know I'm wrong. Okay, so 30
700 -
701 -176
702 -00:12:50,880 ~-~-> 00:12:52,800
703 -pips is going to permit me to do that and we'll talk more
704 -
705 -177
706 -00:12:52,800 ~-~-> 00:12:56,130
707 -about that as you go. But the London session, what
708 -
709 -178
710 -00:12:56,130 ~-~-> 00:12:58,860
711 -specifically do we need to know about this session? What
712 -
713 -179
714 -00:12:58,860 ~-~-> 00:13:03,360
715 -sets it apart? From the others, okay, well, typically it'll
716 -
717 -180
718 -00:13:03,360 ~-~-> 00:13:06,270
719 -post a daily high or low inside of the first four hours of
720 -
721 -181
722 -00:13:06,270 ~-~-> 00:13:11,700
723 -trading. If you just note on your chart, exactly eight GMT
724 -
725 -182
726 -00:13:13,470 ~-~-> 00:13:18,960
727 -eight GMT, which is standard on an open timeframe, you'll
728 -
729 -183
730 -00:13:18,960 ~-~-> 00:13:22,530
731 -see that that many times makes the higher low. Because it's
732 -
733 -184
734 -00:13:22,530 ~-~-> 00:13:25,770
735 -the actual London open, or what is referred to as one open,
736 -
737 -185
738 -00:13:25,770 ~-~-> 00:13:31,560
739 -there's no specific exchange that opens up. It's just that's
740 -
741 -186
742 -00:13:31,560 ~-~-> 00:13:34,530
743 -when everybody dog piles in and you ever start stacking up
744 -
745 -187
746 -00:13:34,530 ~-~-> 00:13:39,840
747 -around that time. So by having this premise built in if you
748 -
749 -188
750 -00:13:39,840 ~-~-> 00:13:42,960
751 -have a higher timeframe, directional bias, in other words,
752 -
753 -189
754 -00:13:42,960 ~-~-> 00:13:49,020
755 -if you expect the weekly range to be an up candle, okay, in
756 -
757 -190
758 -00:13:49,020 ~-~-> 00:13:51,300
759 -other words, if you look on the weekly chart, and the candle
760 -
761 -191
762 -00:13:51,330 ~-~-> 00:13:54,150
763 -that you expect to form this week, starting on Sunday
764 -
765 -192
766 -00:13:54,150 ~-~-> 00:13:57,960
767 -trading, if you expect to see the candle for the weekly
768 -
769 -193
770 -00:13:57,960 ~-~-> 00:14:01,860
771 -range to be an up candle, okay? Or Friday's close to be
772 -
773 -194
774 -00:14:01,860 ~-~-> 00:14:05,550
775 -greater than Sunday's opening. Okay, essentially what we're
776 -
777 -195
778 -00:14:05,550 ~-~-> 00:14:08,910
779 -talking about here, inside that weekly range, you're
780 -
781 -196
782 -00:14:08,910 ~-~-> 00:14:11,280
783 -expecting to capitalize on some kind of a bullish move.
784 -
785 -197
786 -00:14:11,520 ~-~-> 00:14:15,270
787 -Okay? So by having that premise going into trading, okay,
788 -
789 -198
790 -00:14:15,420 ~-~-> 00:14:18,420
791 -you're going to be looking for the low to form within the
792 -
793 -199
794 -00:14:18,420 ~-~-> 00:14:21,180
795 -first four hours of trading during the London open session.
796 -
797 -200
798 -00:14:21,420 ~-~-> 00:14:24,330
799 -Okay? So what you're going to be looking at as early as 1am,
800 -
801 -201
802 -00:14:24,870 ~-~-> 00:14:28,560
803 -Eastern Standard Time, New York time, okay? or six GMT.
804 -
805 -202
806 -00:14:29,490 ~-~-> 00:14:33,570
807 -Generally seven to eight GMT is about when it starts to
808 -
809 -203
810 -00:14:33,570 ~-~-> 00:14:39,270
811 -form. But the ideal bracket, Killzone that I like to call is
812 -
813 -204
814 -00:14:39,270 ~-~-> 00:14:42,780
815 -seven to nine GMT. Okay, you can learn more about these
816 -
817 -205
818 -00:14:42,990 ~-~-> 00:14:45,630
819 -specific times and how to map out your charts and I'm going
820 -
821 -206
822 -00:14:45,630 ~-~-> 00:14:48,180
823 -to do it in this session because I've done extensively in
824 -
825 -207
826 -00:14:48,180 ~-~-> 00:14:52,650
827 -other modules but if you look at my video, how to trade key
828 -
829 -208
830 -00:14:52,650 ~-~-> 00:14:56,100
831 -swing points video, it actually shows you how to map out the
832 -
833 -209
834 -00:14:56,100 ~-~-> 00:14:59,160
835 -London open kill zone and the New York open kill zone. So I
836 -
837 -210
838 -00:14:59,160 ~-~-> 00:15:02,760
839 -advise you to take a look That. So if you haven't, obviously
840 -
841 -211
842 -00:15:02,760 ~-~-> 00:15:06,690
843 -this is a prerequisite for you to continue. So I would
844 -
845 -212
846 -00:15:06,690 ~-~-> 00:15:09,510
847 -actually tell you to stop the video here and go check that
848 -
849 -213
850 -00:15:09,510 ~-~-> 00:15:11,880
851 -video out and then come back and pick up where we're at
852 -
853 -214
854 -00:15:11,880 ~-~-> 00:15:16,920
855 -right now. Okay, so those that did take the instructions
856 -
857 -215
858 -00:15:17,400 ~-~-> 00:15:22,260
859 -welcome back and those that didn't Shame on you. London open
860 -
861 -216
862 -00:15:22,350 ~-~-> 00:15:26,700
863 -typically sees a stop raid or false breakout. Okay, there's
864 -
865 -217
866 -00:15:27,690 ~-~-> 00:15:34,170
867 -always this tendency for London to see this initial rally up
868 -
869 -218
870 -00:15:34,320 ~-~-> 00:15:37,800
871 -fake and then drops going into London clothes, okay,
872 -
873 -219
874 -00:15:38,160 ~-~-> 00:15:40,170
875 -especially if you're expecting a bearish move for the week
876 -
877 -220
878 -00:15:40,170 ~-~-> 00:15:43,260
879 -or expecting a bearish day. You see this happen over and
880 -
881 -221
882 -00:15:43,260 ~-~-> 00:15:46,710
883 -over and over again, the Asian range high gets taken out, or
884 -
885 -222
886 -00:15:46,830 ~-~-> 00:15:48,690
887 -we break out of the Asian range trade right back into the
888 -
889 -223
890 -00:15:48,690 ~-~-> 00:15:51,000
891 -Asian range again, create an optimal trade entry sell off,
892 -
893 -224
894 -00:15:51,270 ~-~-> 00:15:54,120
895 -and then goes down into New York and North London closed.
896 -
897 -225
898 -00:15:54,930 ~-~-> 00:15:58,620
899 -That's generally the type of style trading that I do in the
900 -
901 -226
902 -00:15:58,620 ~-~-> 00:16:03,480
903 -London session. Now, this swing that takes place from London
904 -
905 -227
906 -00:16:03,480 ~-~-> 00:16:07,050
907 -going into later part of the day, I dubbed the London
908 -
909 -228
910 -00:16:07,050 ~-~-> 00:16:10,230
911 -Express. And it simply means that you know, I look at it
912 -
913 -229
914 -00:16:10,290 ~-~-> 00:16:13,860
915 -like a train ride, it takes 48 hours in duration, okay? And
916 -
917 -230
918 -00:16:13,860 ~-~-> 00:16:15,780
919 -if you get in if you get in the right direction, it can
920 -
921 -231
922 -00:16:15,780 ~-~-> 00:16:19,290
923 -really take you places guys. It has a huge amount of pips
924 -
925 -232
926 -00:16:19,320 ~-~-> 00:16:21,960
927 -laid at your feet, if you understand what you're doing, and
928 -
929 -233
930 -00:16:21,960 ~-~-> 00:16:26,760
931 -you don't fear holding all day. If you're a scalper and you
932 -
933 -234
934 -00:16:26,760 ~-~-> 00:16:29,640
935 -get in here and you do these, you know, 510 15 minute trades
936 -
937 -235
938 -00:16:29,640 ~-~-> 00:16:32,070
939 -and you think you've made a lot of money. That may feel
940 -
941 -236
942 -00:16:32,070 ~-~-> 00:16:35,520
943 -good, okay, but don't live there. You should develop a
944 -
945 -237
946 -00:16:35,520 ~-~-> 00:16:38,850
947 -little bit more in terms of price action, and understanding
948 -
949 -238
950 -00:16:39,060 ~-~-> 00:16:42,420
951 -and allow your access if you traded in London. Permit
952 -
953 -239
954 -00:16:42,420 ~-~-> 00:16:45,300
955 -yourself to hold something throughout the day. Okay, if you
956 -
957 -240
958 -00:16:45,300 ~-~-> 00:16:48,990
959 -do that, you'll have a whole lot more pips laid at your feet
960 -
961 -241
962 -00:16:49,020 ~-~-> 00:16:51,690
963 -in versus just going in the market, taking a few pips and
964 -
965 -242
966 -00:16:51,690 ~-~-> 00:16:56,100
967 -being happy with that. Additional trade entries can be made
968 -
969 -243
970 -00:16:56,100 ~-~-> 00:16:59,610
971 -in the direction of London Express trends and you can do
972 -
973 -244
974 -00:16:59,610 ~-~-> 00:17:02,850
975 -that by trading at the New York open now it's not my point
976 -
977 -245
978 -00:17:02,850 ~-~-> 00:17:06,210
979 -to teach the New York open. We do have a webinar that was
980 -
981 -246
982 -00:17:06,210 ~-~-> 00:17:09,420
983 -recorded trade in New York session. You can find that on my
984 -
985 -247
986 -00:17:09,420 ~-~-> 00:17:13,140
987 -YouTube channel. And it's also linked on the pips. Thread
988 -
989 -248
990 -00:17:13,170 ~-~-> 00:17:15,660
991 -what every new analyst buying for traders still wants to
992 -
993 -249
994 -00:17:15,660 ~-~-> 00:17:19,320
995 -know on the first page of that thread. My first post opening
996 -
997 -250
998 -00:17:19,320 ~-~-> 00:17:23,040
999 -title post has an index of all my videos that's on YouTube,
1000 -
1001 -251
1002 -00:17:23,220 ~-~-> 00:17:26,940
1003 -that is my initial forex trading course. All those videos
1004 -
1005 -252
1006 -00:17:26,940 ~-~-> 00:17:31,830
1007 -are there that webinars in that list as well. Time
1008 -
1009 -253
1010 -00:17:31,830 ~-~-> 00:17:36,870
1011 -objectives are utilize for profit taking and those being
1012 -
1013 -254
1014 -00:17:36,900 ~-~-> 00:17:40,440
1015 -1500 to 1600 GMT, you've seen this many many times in my
1016 -
1017 -255
1018 -00:17:40,440 ~-~-> 00:17:43,740
1019 -videos, many times call them the actual high or low the day.
1020 -
1021 -256
1022 -00:17:45,360 ~-~-> 00:17:47,670
1023 -If we do hold on to a portion of it, we'd love to try to
1024 -
1025 -257
1026 -00:17:47,670 ~-~-> 00:17:51,540
1027 -take some out at 1800 GMT if it continues to move on from
1028 -
1029 -258
1030 -00:17:51,600 ~-~-> 00:17:55,200
1031 -London higher load that were traded. And if we have
1032 -
1033 -259
1034 -00:17:55,230 ~-~-> 00:17:58,260
1035 -obviously a small portion to trade on to hold overnight for
1036 -
1037 -260
1038 -00:17:58,710 ~-~-> 00:18:01,950
1039 -additional profits that meet Su going into the next day's
1040 -
1041 -261
1042 -00:18:01,950 ~-~-> 00:18:04,680
1043 -trading, obviously, you know, we'll talk about that when we
1044 -
1045 -262
1046 -00:18:04,680 ~-~-> 00:18:08,370
1047 -get to it. But we take profit objectives based around time
1048 -
1049 -263
1050 -00:18:08,370 ~-~-> 00:18:11,760
1051 -and price theory. Okay and it means support resistance,
1052 -
1053 -264
1054 -00:18:11,970 ~-~-> 00:18:17,340
1055 -swings, projections Fibonacci these old highs and lows and
1056 -
1057 -265
1058 -00:18:17,340 ~-~-> 00:18:21,360
1059 -specific times that mean the New York open again look at the
1060 -
1061 -266
1062 -00:18:21,870 ~-~-> 00:18:24,870
1063 -trading the key swing points video module on the information
1064 -
1065 -267
1066 -00:18:24,870 ~-~-> 00:18:28,680
1067 -around the New York open then the 15 to 1600 GMT profit
1068 -
1069 -268
1070 -00:18:28,680 ~-~-> 00:18:31,800
1071 -taking our that's London close we have to take our largest
1072 -
1073 -269
1074 -00:18:31,800 ~-~-> 00:18:35,400
1075 -portion of our intraday trading profits there. And then
1076 -
1077 -270
1078 -00:18:35,400 ~-~-> 00:18:38,190
1079 -obviously if we're holding intraday and starts to run, you
1080 -
1081 -271
1082 -00:18:38,190 ~-~-> 00:18:44,130
1083 -can get a late New York swing going into 1800 GMT but if
1084 -
1085 -272
1086 -00:18:44,130 ~-~-> 00:18:47,190
1087 -you're specifically going to be looking to capture only
1088 -
1089 -273
1090 -00:18:47,190 ~-~-> 00:18:50,160
1091 -intraday action and never hold overnight, take the lion's
1092 -
1093 -274
1094 -00:18:50,160 ~-~-> 00:18:53,160
1095 -portion of your profits around the 1500 to 1600 GMT
1096 -
1097 -275
1098 -00:18:53,580 ~-~-> 00:18:55,590
1099 -hour. So inside of that window
1100 -
1101 -276
1102 -00:18:55,590 ~-~-> 00:18:59,880
1103 -of of one hour, look to take your profits and scale a little
1104 -
1105 -277
1106 -00:18:59,880 ~-~-> 00:19:03,330
1107 -more portion if you can hold a little bit, okay? Obviously
1108 -
1109 -278
1110 -00:19:03,330 ~-~-> 00:19:06,570
1111 -tighten your stop loss off and then reach no more than 1800
1112 -
1113 -279
1114 -00:19:06,600 ~-~-> 00:19:09,270
1115 -GMT if you're just an intraday trader not holding overnight,
1116 -
1117 -280
1118 -00:19:09,750 ~-~-> 00:19:13,710
1119 -but 80% of the time, you're going to see that 1500 to 1600
1120 -
1121 -281
1122 -00:19:13,890 ~-~-> 00:19:18,660
1123 -hour post the counter. higher low numbers, if it's been a
1124 -
1125 -282
1126 -00:19:18,660 ~-~-> 00:19:22,830
1127 -down day, you'll see the low form around 15 to 1600 GMT and
1128 -
1129 -283
1130 -00:19:22,830 ~-~-> 00:19:26,070
1131 -if it's an update, you'll see the high form for the day
1132 -
1133 -284
1134 -00:19:26,070 ~-~-> 00:19:29,250
1135 -around 15 to 1600 GMT. Okay, so long open gives you the
1136 -
1137 -285
1138 -00:19:29,250 ~-~-> 00:19:33,240
1139 -higher low, and then 1500 to 1600 gives you the opposite end
1140 -
1141 -286
1142 -00:19:33,240 ~-~-> 00:19:36,300
1143 -of the daily range. Okay, so if you take nothing else from
1144 -
1145 -287
1146 -00:19:36,300 ~-~-> 00:19:39,600
1147 -this, this video module, that right there in itself will
1148 -
1149 -288
1150 -00:19:39,600 ~-~-> 00:19:41,550
1151 -make you more money in your demo account than you've ever
1152 -
1153 -289
1154 -00:19:41,550 ~-~-> 00:19:45,480
1155 -probably imagined. Okay, that's how precise these concepts
1156 -
1157 -290
1158 -00:19:45,480 ~-~-> 00:19:47,730
1159 -work. Now when you start adding all these other components
1160 -
1161 -291
1162 -00:19:47,730 ~-~-> 00:19:51,600
1163 -to it, it's like Voodoo, okay, it's it's amazing how this
1164 -
1165 -292
1166 -00:19:51,600 ~-~-> 00:19:54,870
1167 -stuff works out. And you'll be you'll be pleasantly
1168 -
1169 -293
1170 -00:19:54,870 ~-~-> 00:19:58,230
1171 -surprised once you start applying these concepts. Now when
1172 -
1173 -294
1174 -00:19:58,230 ~-~-> 00:20:01,680
1175 -trading in the anticipated Weekly trend direction, you want
1176 -
1177 -295
1178 -00:20:01,680 ~-~-> 00:20:04,620
1179 -to take some profits intraday, but do not show your stop
1180 -
1181 -296
1182 -00:20:04,620 ~-~-> 00:20:08,070
1183 -loss too aggressively because if you do that, just in New
1184 -
1185 -297
1186 -00:20:08,070 ~-~-> 00:20:10,470
1187 -York session alone, you've seen many times there's a deep
1188 -
1189 -298
1190 -00:20:10,470 ~-~-> 00:20:13,710
1191 -retracement going into the swing that ensued in London open
1192 -
1193 -299
1194 -00:20:14,190 ~-~-> 00:20:17,850
1195 -only to give an additional selling opportunity to go into
1196 -
1197 -300
1198 -00:20:17,850 ~-~-> 00:20:23,190
1199 -London close. So you're going to need to learn to trust the
1200 -
1201 -301
1202 -00:20:23,190 ~-~-> 00:20:26,400
1203 -fact that prices going up and down up and down in a natural
1204 -
1205 -302
1206 -00:20:26,400 ~-~-> 00:20:29,550
1207 -ebb and flow of price action. It still will slide in the
1208 -
1209 -303
1210 -00:20:29,550 ~-~-> 00:20:33,780
1211 -home around London close if there's not a market reversal
1212 -
1213 -304
1214 -00:20:33,780 ~-~-> 00:20:37,500
1215 -profile, and we'll talk about that later on. But allowing
1216 -
1217 -305
1218 -00:20:37,830 ~-~-> 00:20:42,360
1219 -the market room to move and not trail your stop loss so
1220 -
1221 -306
1222 -00:20:42,360 ~-~-> 00:20:45,750
1223 -aggressively. This will permit your positions to remain open
1224 -
1225 -307
1226 -00:20:45,780 ~-~-> 00:20:47,760
1227 -and not get stopped out prematurely without seeing your
1228 -
1229 -308
1230 -00:20:47,760 ~-~-> 00:20:48,300
1231 -maximum
1232 -
1233 -309
1234 -00:20:49,230 ~-~-> 00:20:51,000
1235 -price objectives fulfilled.
1236 -
1237 -310
1238 -00:20:55,230 ~-~-> 00:20:57,810
1239 -All right, we've talked about the market maker profile.
1240 -
1241 -311
1242 -00:20:58,050 ~-~-> 00:21:00,000
1243 -Okay, this is the ICT market maker profile.
1244 -
1245 -312
1246 -00:21:01,199 ~-~-> 00:21:02,039
1247 -By model
1248 -
1249 -313
1250 -00:21:03,060 ~-~-> 00:21:05,910
1251 -and my looking at this, okay, we've discussed how there's an
1252 -
1253 -314
1254 -00:21:05,910 ~-~-> 00:21:09,210
1255 -accumulation phase in here. And then price starts to break
1256 -
1257 -315
1258 -00:21:09,210 ~-~-> 00:21:11,910
1259 -out comes back up many times and retest, it doesn't have to
1260 -
1261 -316
1262 -00:21:11,910 ~-~-> 00:21:14,130
1263 -do that. But it can give you another additional trade entry
1264 -
1265 -317
1266 -00:21:14,130 ~-~-> 00:21:16,800
1267 -shortened here or reflection pattern and sells off goes
1268 -
1269 -318
1270 -00:21:16,800 ~-~-> 00:21:20,820
1271 -down, makes a low, okay, and then reverses and gives you a
1272 -
1273 -319
1274 -00:21:20,820 ~-~-> 00:21:23,850
1275 -breakout, maybe a retest or Apple trading sheet here to get
1276 -
1277 -320
1278 -00:21:23,850 ~-~-> 00:21:27,270
1279 -in sync with that move. Once market structure is broken to
1280 -
1281 -321
1282 -00:21:27,270 ~-~-> 00:21:30,600
1283 -the upside, and then you have another additional sometimes
1284 -
1285 -322
1286 -00:21:30,720 ~-~-> 00:21:33,690
1287 -secondary position to get down long. And you're going to
1288 -
1289 -323
1290 -00:21:33,690 ~-~-> 00:21:36,630
1291 -reach back for these previous consolidation where stops
1292 -
1293 -324
1294 -00:21:36,630 ~-~-> 00:21:40,080
1295 -would be resting prior to these highs in here. And you see
1296 -
1297 -325
1298 -00:21:40,080 ~-~-> 00:21:45,750
1299 -that unfolding this premise or understanding of how price
1300 -
1301 -326
1302 -00:21:45,810 ~-~-> 00:21:48,780
1303 -swings, in other words, it's engineered to go lower to go
1304 -
1305 -327
1306 -00:21:48,780 ~-~-> 00:21:53,370
1307 -higher. Okay. If you are an intraday trader this same
1308 -
1309 -328
1310 -00:21:53,550 ~-~-> 00:21:59,280
1311 -premise to price action study repeats itself on an intraday
1312 -
1313 -329
1314 -00:21:59,280 ~-~-> 00:22:03,210
1315 -scale. Okay, we've looked at higher timeframe models of this
1316 -
1317 -330
1318 -00:22:03,210 ~-~-> 00:22:07,020
1319 -price action, okay, or this fractal pattern, but it also
1320 -
1321 -331
1322 -00:22:07,020 ~-~-> 00:22:10,230
1323 -repeats itself on intraday price action, okay, and those
1324 -
1325 -332
1326 -00:22:10,230 ~-~-> 00:22:13,110
1327 -that have been students on my work for last few years on
1328 -
1329 -333
1330 -00:22:13,110 ~-~-> 00:22:16,560
1331 -baby pips should recognize this is very similar to my
1332 -
1333 -334
1334 -00:22:16,560 ~-~-> 00:22:20,880
1335 -classic buy day for the London open. Now initially I did a
1336 -
1337 -335
1338 -00:22:22,170 ~-~-> 00:22:26,520
1339 -London open video module, it was very, very brief. It had
1340 -
1341 -336
1342 -00:22:26,640 ~-~-> 00:22:30,420
1343 -zero audio in it. Because I was really I'll be honest, it's
1344 -
1345 -337
1346 -00:22:30,420 ~-~-> 00:22:32,940
1347 -I was reluctant in releasing some of this material until
1348 -
1349 -338
1350 -00:22:33,360 ~-~-> 00:22:36,810
1351 -there was a lot more structure and education behind it all
1352 -
1353 -339
1354 -00:22:36,810 ~-~-> 00:22:39,270
1355 -because I would have never been able to keep up with the
1356 -
1357 -340
1358 -00:22:39,810 ~-~-> 00:22:42,120
1359 -level of emails and questions. What does this mean? What
1360 -
1361 -341
1362 -00:22:42,120 ~-~-> 00:22:45,420
1363 -does that mean? So now I think that I have a lot of my
1364 -
1365 -342
1366 -00:22:45,420 ~-~-> 00:22:48,720
1367 -foundational information presented already and available
1368 -
1369 -343
1370 -00:22:48,720 ~-~-> 00:22:52,350
1371 -widely available on YouTube and baby Phipps. There's many
1372 -
1373 -344
1374 -00:22:52,350 ~-~-> 00:22:55,590
1375 -resources you can go to to further educate yourself on what
1376 -
1377 -345
1378 -00:22:55,590 ~-~-> 00:23:00,000
1379 -I'm referring to in this video module. Okay, so I knew doing
1380 -
1381 -346
1382 -00:23:00,000 ~-~-> 00:23:02,760
1383 -it the first time it probably was going to be not as
1384 -
1385 -347
1386 -00:23:02,760 ~-~-> 00:23:05,490
1387 -effective as I was hoped it would be. But I think this time
1388 -
1389 -348
1390 -00:23:05,490 ~-~-> 00:23:07,950
1391 -around those that have seen the first one will agree that
1392 -
1393 -349
1394 -00:23:07,950 ~-~-> 00:23:11,220
1395 -this is probably a far better approach to teaching the
1396 -
1397 -350
1398 -00:23:11,220 ~-~-> 00:23:16,590
1399 -London open session with my tools. And obviously looking at
1400 -
1401 -351
1402 -00:23:16,590 ~-~-> 00:23:21,930
1403 -the ICT cell model for the market maker profile. When we see
1404 -
1405 -352
1406 -00:23:21,930 ~-~-> 00:23:25,800
1407 -price run up like this, this is a rally, okay? In other
1408 -
1409 -353
1410 -00:23:25,800 ~-~-> 00:23:29,610
1411 -words, they engineer price up and then trades lower. So in
1412 -
1413 -354
1414 -00:23:29,610 ~-~-> 00:23:32,790
1415 -other words, they make it go up to go lower. Okay, so
1416 -
1417 -355
1418 -00:23:33,660 ~-~-> 00:23:39,180
1419 -there's a accumulation Okay, there is a rapid price
1420 -
1421 -356
1422 -00:23:39,210 ~-~-> 00:23:43,920
1423 -increase, okay? And then you see a sell off and it goes back
1424 -
1425 -357
1426 -00:23:43,920 ~-~-> 00:23:46,200
1427 -to the previous consolidation and or below.
1428 -
1429 -358
1430 -00:23:47,580 ~-~-> 00:23:49,230
1431 -So let's take a look at
1432 -
1433 -359
1434 -00:23:50,790 ~-~-> 00:23:55,380
1435 -what this looks like with price structure. Okay, now if
1436 -
1437 -360
1438 -00:23:55,380 ~-~-> 00:23:57,930
1439 -we're going to be an intraday trader, and this charts are
1440 -
1441 -361
1442 -00:23:57,930 ~-~-> 00:24:00,660
1443 -similar to the previous video module, okay. But it will
1444 -
1445 -362
1446 -00:24:00,660 ~-~-> 00:24:05,550
1447 -allow me to teach the same premise because price action is
1448 -
1449 -363
1450 -00:24:05,580 ~-~-> 00:24:08,220
1451 -price action. It doesn't matter if you're looking at a one
1452 -
1453 -364
1454 -00:24:08,220 ~-~-> 00:24:11,190
1455 -minute chart, 15 minute chart daily, weekly, monthly doesn't
1456 -
1457 -365
1458 -00:24:11,190 ~-~-> 00:24:14,100
1459 -matter, the same concepts hold true. There's going to be
1460 -
1461 -366
1462 -00:24:14,100 ~-~-> 00:24:16,470
1463 -some things that we talked about in this video module is
1464 -
1465 -367
1466 -00:24:17,040 ~-~-> 00:24:20,700
1467 -generically inherent with intraday trading because of the
1468 -
1469 -368
1470 -00:24:20,700 ~-~-> 00:24:23,940
1471 -nature of that type, that type of trading. But by far and
1472 -
1473 -369
1474 -00:24:23,940 ~-~-> 00:24:26,730
1475 -large, most of everything you're seeing here is just a
1476 -
1477 -370
1478 -00:24:27,030 ~-~-> 00:24:29,700
1479 -compilation of all the things in the higher time frame apply
1480 -
1481 -371
1482 -00:24:29,700 ~-~-> 00:24:34,080
1483 -to the smaller time frame. Let's assume we have this price
1484 -
1485 -372
1486 -00:24:34,080 ~-~-> 00:24:37,530
1487 -structure here and this may be a daily chart, or it could be
1488 -
1489 -373
1490 -00:24:37,530 ~-~-> 00:24:40,560
1491 -a four hour chart. Okay? But really, for day trading
1492 -
1493 -374
1494 -00:24:40,560 ~-~-> 00:24:44,250
1495 -purposes, if you focus in on the daily, four hour, one hour,
1496 -
1497 -375
1498 -00:24:44,550 ~-~-> 00:24:50,940
1499 -that's your universe for your foundational premise behind
1500 -
1501 -376
1502 -00:24:50,940 ~-~-> 00:24:54,600
1503 -your directional bias. Okay, everybody sends me emails he
1504 -
1505 -377
1506 -00:24:54,600 ~-~-> 00:24:57,600
1507 -talks about on the forums all the time. This is great.
1508 -
1509 -378
1510 -00:24:57,660 ~-~-> 00:25:00,420
1511 -Michael, I see your videos is absolutely phenomenal. All the
1512 -
1513 -379
1514 -00:25:00,420 ~-~-> 00:25:04,140
1515 -tools work so wonderful unless out of my chart, I've just
1516 -
1517 -380
1518 -00:25:04,140 ~-~-> 00:25:06,780
1519 -been exposed to your work, and it's great. But here's the
1520 -
1521 -381
1522 -00:25:06,780 ~-~-> 00:25:09,270
1523 -problem we're having. I'm looking at the chart on the hard
1524 -
1525 -382
1526 -00:25:09,270 ~-~-> 00:25:12,330
1527 -right edge of my screen. I don't know where it's going to go
1528 -
1529 -383
1530 -00:25:12,330 ~-~-> 00:25:15,660
1531 -from there. So you have to look on the left side of your
1532 -
1533 -384
1534 -00:25:15,660 ~-~-> 00:25:18,780
1535 -chart guys. It sounds counterproductive, okay, because
1536 -
1537 -385
1538 -00:25:18,780 ~-~-> 00:25:21,840
1539 -you're looking at what's already happened. But that tells
1540 -
1541 -386
1542 -00:25:21,840 ~-~-> 00:25:26,100
1543 -you where price is trying to go. Okay? We've seen price
1544 -
1545 -387
1546 -00:25:26,190 ~-~-> 00:25:30,210
1547 -obviously trade lower, okay, and the market structure breaks
1548 -
1549 -388
1550 -00:25:30,240 ~-~-> 00:25:34,560
1551 -in here. Okay, once the price starts to retrace in here and
1552 -
1553 -389
1554 -00:25:34,560 ~-~-> 00:25:39,870
1555 -rallies up, we have now a possible swing low forming, okay,
1556 -
1557 -390
1558 -00:25:39,870 ~-~-> 00:25:42,540
1559 -this is a daily chart, or if you have an intermediate term
1560 -
1561 -391
1562 -00:25:42,540 ~-~-> 00:25:46,680
1563 -low if this is a four hour chart, okay? Or it could be even
1564 -
1565 -392
1566 -00:25:46,680 ~-~-> 00:25:50,520
1567 -a long term low. Okay, doesn't matter. Just understanding
1568 -
1569 -393
1570 -00:25:50,760 ~-~-> 00:25:53,910
1571 -where we are in terms of price action. So if we see this
1572 -
1573 -394
1574 -00:25:54,000 ~-~-> 00:25:57,990
1575 -example, let's say we're looking at a four hour chart, okay,
1576 -
1577 -395
1578 -00:25:58,320 ~-~-> 00:26:02,010
1579 -maybe this is a four hour zoom. In and we've came down on a
1580 -
1581 -396
1582 -00:26:02,010 ~-~-> 00:26:06,450
1583 -daily into a higher level support line. Okay, so this may be
1584 -
1585 -397
1586 -00:26:06,450 ~-~-> 00:26:10,440
1587 -a big figure, okay be a mid figure, it could be a whole list
1588 -
1589 -398
1590 -00:26:10,440 ~-~-> 00:26:13,770
1591 -of things, okay on a monthly high now traded back down to
1592 -
1593 -399
1594 -00:26:13,830 ~-~-> 00:26:18,000
1595 -support but price comes down to it and simply because it
1596 -
1597 -400
1598 -00:26:18,000 ~-~-> 00:26:20,400
1599 -trades to it, there's two ways of doing that if this is a
1600 -
1601 -401
1602 -00:26:20,400 ~-~-> 00:26:23,670
1603 -higher timeframe, resistance and support level, okay, and
1604 -
1605 -402
1606 -00:26:23,670 ~-~-> 00:26:28,110
1607 -we're expecting price to provide support here. We don't
1608 -
1609 -403
1610 -00:26:28,260 ~-~-> 00:26:32,160
1611 -always just assume just buying because it gets to a level
1612 -
1613 -404
1614 -00:26:32,160 ~-~-> 00:26:34,470
1615 -like that you can there's nothing wrong with that takes a
1616 -
1617 -405
1618 -00:26:34,470 ~-~-> 00:26:38,190
1619 -lot of guts. But if you're willing to wait for price to give
1620 -
1621 -406
1622 -00:26:38,190 ~-~-> 00:26:42,960
1623 -you clues, it may have in fact, assumed Long's in here about
1624 -
1625 -407
1626 -00:26:42,960 ~-~-> 00:26:45,480
1627 -the smart money, wait for the market structure to break and
1628 -
1629 -408
1630 -00:26:45,480 ~-~-> 00:26:49,080
1631 -you see that by swing high being broken here. Okay. So if
1632 -
1633 -409
1634 -00:26:49,080 ~-~-> 00:26:52,710
1635 -you see a four hour break in market structure, and then you
1636 -
1637 -410
1638 -00:26:52,710 ~-~-> 00:26:56,670
1639 -see the price retrace back down, you would expect to see it
1640 -
1641 -411
1642 -00:26:56,670 ~-~-> 00:26:59,490
1643 -not go back down below this low. So you would see an optimal
1644 -
1645 -412
1646 -00:26:59,490 ~-~-> 00:27:02,220
1647 -trade entry Here. So now obviously you would expect to see
1648 -
1649 -413
1650 -00:27:02,220 ~-~-> 00:27:05,940
1651 -what to unfold higher prices. Okay? So from this point on
1652 -
1653 -414
1654 -00:27:05,970 ~-~-> 00:27:08,490
1655 -what you're, what you're watching is you're watching market
1656 -
1657 -415
1658 -00:27:08,490 ~-~-> 00:27:10,950
1659 -structure. Okay? You're watching how market structure
1660 -
1661 -416
1662 -00:27:10,950 ~-~-> 00:27:15,120
1663 -unfolds, the swings, all these types of things that we've
1664 -
1665 -417
1666 -00:27:15,120 ~-~-> 00:27:19,050
1667 -looked at in the higher timeframe just simply utilize here
1668 -
1669 -418
1670 -00:27:19,050 ~-~-> 00:27:26,760
1671 -as well for our intraday daily premise, okay? Now by looking
1672 -
1673 -419
1674 -00:27:26,760 ~-~-> 00:27:29,010
1675 -at price like that, okay, what we're going to be doing is
1676 -
1677 -420
1678 -00:27:29,010 ~-~-> 00:27:31,590
1679 -we're going to be expecting anticipating highs and lows to
1680 -
1681 -421
1682 -00:27:31,590 ~-~-> 00:27:34,440
1683 -be forming, okay? When this market structure break here
1684 -
1685 -422
1686 -00:27:34,440 ~-~-> 00:27:36,840
1687 -happens and we have a shift in market structure to
1688 -
1689 -423
1690 -00:27:36,840 ~-~-> 00:27:42,210
1691 -bullishness, okay. Again, assuming this is a nice support
1692 -
1693 -424
1694 -00:27:42,210 ~-~-> 00:27:47,130
1695 -level, price comes down as an optimal trade entry. This low
1696 -
1697 -425
1698 -00:27:47,130 ~-~-> 00:27:49,710
1699 -that forms the optimal trade entry in this little swing
1700 -
1701 -426
1702 -00:27:49,710 ~-~-> 00:27:54,150
1703 -down. There's this could be the new day here. Okay, this
1704 -
1705 -427
1706 -00:27:54,150 ~-~-> 00:27:56,910
1707 -could be the start of a new rate. There could be the new day
1708 -
1709 -428
1710 -00:27:57,390 ~-~-> 00:28:00,210
1711 -and then we had this move lower. Do you understand as My
1712 -
1713 -429
1714 -00:28:00,210 ~-~-> 00:28:04,440
1715 -Judas swing, when it dips down from that, initially, that's
1716 -
1717 -430
1718 -00:28:04,440 ~-~-> 00:28:07,410
1719 -the move that you buy in London open, and you expect the
1720 -
1721 -431
1722 -00:28:07,410 ~-~-> 00:28:11,190
1723 -daily range to fulfill gone to the upside. Okay? Same thing
1724 -
1725 -432
1726 -00:28:11,190 ~-~-> 00:28:14,010
1727 -happens here, if we've seen price drop down lower in here,
1728 -
1729 -433
1730 -00:28:14,010 ~-~-> 00:28:18,330
1731 -this could be a New York open market reversal
1732 -
1733 -434
1734 -00:28:19,619 ~-~-> 00:28:22,439
1735 -and trade lower. And then this could be a new day here or it
1736 -
1737 -435
1738 -00:28:22,439 ~-~-> 00:28:25,769
1739 -could be a new day rain here where we have the Asian range
1740 -
1741 -436
1742 -00:28:25,769 ~-~-> 00:28:29,729
1743 -and then there's a dip down initial drop or Judas rally, I'm
1744 -
1745 -437
1746 -00:28:29,729 ~-~-> 00:28:32,459
1747 -sorry, decline, setting up a buying opportunity and we'll
1748 -
1749 -438
1750 -00:28:32,459 ~-~-> 00:28:35,159
1751 -talk about that as we go. But you want to be looking for
1752 -
1753 -439
1754 -00:28:35,159 ~-~-> 00:28:39,029
1755 -opportunities to get in sync. Okay getting sync with this
1756 -
1757 -440
1758 -00:28:39,059 ~-~-> 00:28:42,149
1759 -market structure that's bullish. Now when we have these very
1760 -
1761 -441
1762 -00:28:42,179 ~-~-> 00:28:47,189
1763 -clean, discernible price legs like this price swings, this
1764 -
1765 -442
1766 -00:28:47,189 ~-~-> 00:28:50,429
1767 -is an impulse move. Okay, when you see price run up like
1768 -
1769 -443
1770 -00:28:50,429 ~-~-> 00:28:53,249
1771 -this, okay? You're going to expecting a retracement at some
1772 -
1773 -444
1774 -00:28:53,249 ~-~-> 00:28:56,099
1775 -point. And when you start to see that unfold, you don't pull
1776 -
1777 -445
1778 -00:28:56,099 ~-~-> 00:28:59,729
1779 -your fib from the low to the high and look for these obvious
1780 -
1781 -446
1782 -00:28:59,729 ~-~-> 00:29:03,449
1783 -levels. of retracements Okay, now you can be a day trader,
1784 -
1785 -447
1786 -00:29:03,719 ~-~-> 00:29:07,229
1787 -okay with market structure corrections, okay and
1788 -
1789 -448
1790 -00:29:07,229 ~-~-> 00:29:11,129
1791 -retracements and be shorter you shorting in here and in here
1792 -
1793 -449
1794 -00:29:11,279 ~-~-> 00:29:14,279
1795 -but never losing sight of where possibly disagree chasing
1796 -
1797 -450
1798 -00:29:14,279 ~-~-> 00:29:17,369
1799 -deeper with this higher time frame for our market structure
1800 -
1801 -451
1802 -00:29:17,369 ~-~-> 00:29:19,799
1803 -or it could be a daily market structure we're looking at
1804 -
1805 -452
1806 -00:29:19,799 ~-~-> 00:29:24,209
1807 -here. So by having the higher time frame daily four hour and
1808 -
1809 -453
1810 -00:29:24,209 ~-~-> 00:29:27,929
1811 -one hour charts up and mapping out price swings and where we
1812 -
1813 -454
1814 -00:29:27,929 ~-~-> 00:29:32,339
1815 -are impossible levels of retracement using your fibs. This
1816 -
1817 -455
1818 -00:29:32,339 ~-~-> 00:29:36,539
1819 -level could be an optimal trade entry by based on this low
1820 -
1821 -456
1822 -00:29:36,569 ~-~-> 00:29:39,839
1823 -to high could be a 62% retracement level. Or if you use this
1824 -
1825 -457
1826 -00:29:39,839 ~-~-> 00:29:40,439
1827 -low here
1828 -
1829 -458
1830 -00:29:40,530 ~-~-> 00:29:42,750
1831 -on market structure to this high,
1832 -
1833 -459
1834 -00:29:42,810 ~-~-> 00:29:45,240
1835 -this could be a 62 or even a sweet spot are you setting I'm
1836 -
1837 -460
1838 -00:29:45,240 ~-~-> 00:29:47,940
1839 -setting tracing a level okay. So when we get to these
1840 -
1841 -461
1842 -00:29:47,940 ~-~-> 00:29:52,770
1843 -levels, it could be starting to trade here in midnight time
1844 -
1845 -462
1846 -00:29:52,950 ~-~-> 00:29:55,770
1847 -in New York and then you had that swing lower in the Judas.
1848 -
1849 -463
1850 -00:29:56,220 ~-~-> 00:29:59,670
1851 -Okay and it comes right down, blows out an old bow comes
1852 -
1853 -464
1854 -00:29:59,670 ~-~-> 00:30:03,900
1855 -down in Maybe even find support like we'd see here. And then
1856 -
1857 -465
1858 -00:30:03,900 ~-~-> 00:30:06,780
1859 -this is your London open buy to get in sync with a higher
1860 -
1861 -466
1862 -00:30:06,780 ~-~-> 00:30:09,420
1863 -time frame premise and you would let your profits run going
1864 -
1865 -467
1866 -00:30:09,420 ~-~-> 00:30:12,600
1867 -towards you know, higher prices going into New York open in
1868 -
1869 -468
1870 -00:30:12,600 ~-~-> 00:30:15,240
1871 -London close and respectively. Maybe if you're going to hold
1872 -
1873 -469
1874 -00:30:15,240 ~-~-> 00:30:18,540
1875 -it overnight, this is why you would do it. Okay, maybe not
1876 -
1877 -470
1878 -00:30:18,540 ~-~-> 00:30:21,810
1879 -so much holding on long and here overnight because you're
1880 -
1881 -471
1882 -00:30:22,140 ~-~-> 00:30:25,320
1883 -expecting a deeper retracement. But all the things we
1884 -
1885 -472
1886 -00:30:25,320 ~-~-> 00:30:27,240
1887 -learned in the high timeframe and market structure in other
1888 -
1889 -473
1890 -00:30:27,240 ~-~-> 00:30:32,160
1891 -videos, all those things culminate with intraday price
1892 -
1893 -474
1894 -00:30:32,160 ~-~-> 00:30:35,820
1895 -action and utilizing these higher timeframe premises in
1896 -
1897 -475
1898 -00:30:35,820 ~-~-> 00:30:45,300
1899 -intraday action. Now, the easiest, most sweetest setups come
1900 -
1901 -476
1902 -00:30:45,330 ~-~-> 00:30:48,300
1903 -when you trade between intermediate term and higher
1904 -
1905 -477
1906 -00:30:48,300 ~-~-> 00:30:52,980
1907 -timeframe, long term price swings, and those being the blue
1908 -
1909 -478
1910 -00:30:52,980 ~-~-> 00:30:57,060
1911 -circles here. Okay, and we've talked about this in the
1912 -
1913 -479
1914 -00:30:57,060 ~-~-> 00:30:59,700
1915 -previous video module, so I'm not going to go over what
1916 -
1917 -480
1918 -00:30:59,700 ~-~-> 00:31:05,130
1919 -these are Do some study guys go and research this okay, but
1920 -
1921 -481
1922 -00:31:05,130 ~-~-> 00:31:09,330
1923 -the enemy term lows in here if we trade off of the term low
1924 -
1925 -482
1926 -00:31:09,930 ~-~-> 00:31:14,250
1927 -and get long only trading one and open Long's expecting you
1928 -
1929 -483
1930 -00:31:14,250 ~-~-> 00:31:19,770
1931 -to swings lower okay? trading becomes absolutely easy you
1932 -
1933 -484
1934 -00:31:19,770 ~-~-> 00:31:23,040
1935 -know what you're looking for, you know your overall premise
1936 -
1937 -485
1938 -00:31:23,070 ~-~-> 00:31:26,310
1939 -is to be expecting bullish prices. Okay so now what do we
1940 -
1941 -486
1942 -00:31:26,310 ~-~-> 00:31:31,740
1943 -do? We apply the concepts that we learned in how to capture
1944 -
1945 -487
1946 -00:31:31,740 ~-~-> 00:31:35,160
1947 -explosive price moves in the Forex market video module where
1948 -
1949 -488
1950 -00:31:35,160 ~-~-> 00:31:40,920
1951 -I teach that between Sunday's opening and Tuesday's London
1952 -
1953 -489
1954 -00:31:40,920 ~-~-> 00:31:44,190
1955 -open there's a high probability of the weekly higher low to
1956 -
1957 -490
1958 -00:31:44,190 ~-~-> 00:31:48,060
1959 -form by Tuesdays on an open okay if it doesn't form by
1960 -
1961 -491
1962 -00:31:48,480 ~-~-> 00:31:51,060
1963 -Tuesdays London open generally between Tuesday and
1964 -
1965 -492
1966 -00:31:51,060 ~-~-> 00:31:55,410
1967 -Wednesdays London open the weekly range high or low will
1968 -
1969 -493
1970 -00:31:55,410 ~-~-> 00:31:58,290
1971 -establish itself. Okay, so now think about this. Let's
1972 -
1973 -494
1974 -00:31:58,290 ~-~-> 00:32:00,780
1975 -assume for a moment we've mapped out This is a higher time
1976 -
1977 -495
1978 -00:32:00,780 ~-~-> 00:32:03,570
1979 -frame support level, we had market structure shift here,
1980 -
1981 -496
1982 -00:32:03,780 ~-~-> 00:32:05,820
1983 -price comes down the optimal trade entry, we're in a bullish
1984 -
1985 -497
1986 -00:32:05,820 ~-~-> 00:32:09,240
1987 -leg. Okay? Every time price comes down, we're still
1988 -
1989 -498
1990 -00:32:09,240 ~-~-> 00:32:13,680
1991 -expecting price to provide us a buying opportunity. Okay?
1992 -
1993 -499
1994 -00:32:14,130 ~-~-> 00:32:17,820
1995 -Now, what are we looking for going up? Well, obviously we
1996 -
1997 -500
1998 -00:32:17,820 ~-~-> 00:32:20,670
1999 -had this price like here from this high down to this low to
2000 -
2001 -501
2002 -00:32:20,670 ~-~-> 00:32:22,980
2003 -contentment, this is the range that we're trading within.
2004 -
2005 -502
2006 -00:32:23,310 ~-~-> 00:32:25,680
2007 -Okay, so you have to have your fibs pulled up. And this is
2008 -
2009 -503
2010 -00:32:25,680 ~-~-> 00:32:28,470
2011 -going to be your 79 or 62, or even sweetspot, based on the
2012 -
2013 -504
2014 -00:32:28,470 ~-~-> 00:32:33,240
2015 -swing from here to here. But also notice there's a smaller
2016 -
2017 -505
2018 -00:32:33,780 ~-~-> 00:32:39,780
2019 -wave in price action from here to here. So you have your
2020 -
2021 -506
2022 -00:32:39,780 ~-~-> 00:32:42,780
2023 -range from this high, down to this low. So when price gets
2024 -
2025 -507
2026 -00:32:42,780 ~-~-> 00:32:46,350
2027 -up to around that 62 to 79% tracing level on here, that may
2028 -
2029 -508
2030 -00:32:46,350 ~-~-> 00:32:51,030
2031 -be a reason to be more cautious taking London open buy
2032 -
2033 -509
2034 -00:32:51,030 ~-~-> 00:32:55,980
2035 -signals, okay. So, using the inside the range concepts we
2036 -
2037 -510
2038 -00:32:55,980 ~-~-> 00:32:58,950
2039 -learned earlier in the year in the webinar, okay, the same
2040 -
2041 -511
2042 -00:32:58,950 ~-~-> 00:33:01,500
2043 -premise holds true here. You still have to look at your
2044 -
2045 -512
2046 -00:33:01,500 ~-~-> 00:33:04,800
2047 -previous price swings and how they map out. You can build
2048 -
2049 -513
2050 -00:33:04,800 ~-~-> 00:33:07,650
2051 -your premise based on that just simply just doing this alone
2052 -
2053 -514
2054 -00:33:08,070 ~-~-> 00:33:11,430
2055 -will give you high odds probabilities to base your trading
2056 -
2057 -515
2058 -00:33:11,430 ~-~-> 00:33:13,740
2059 -on. So now think about what we've done we've established a
2060 -
2061 -516
2062 -00:33:13,740 ~-~-> 00:33:18,120
2063 -premise that expect bullish prices based on the market shift
2064 -
2065 -517
2066 -00:33:18,210 ~-~-> 00:33:21,780
2067 -and structure here. So when this move went above this
2068 -
2069 -518
2070 -00:33:21,780 ~-~-> 00:33:24,330
2071 -previous swing high here and start to retrace is an awful
2072 -
2073 -519
2074 -00:33:24,330 ~-~-> 00:33:26,610
2075 -trade entry and starts to trade higher, we have confirmation
2076 -
2077 -520
2078 -00:33:26,610 ~-~-> 00:33:29,400
2079 -that we are in a bullish leg, okay, now market structure is
2080 -
2081 -521
2082 -00:33:29,400 ~-~-> 00:33:32,700
2083 -bullish. Okay. At this point here, market flow on all
2084 -
2085 -522
2086 -00:33:32,700 ~-~-> 00:33:36,600
2087 -timeframes probably will be, you know, going up going up. So
2088 -
2089 -523
2090 -00:33:36,600 ~-~-> 00:33:39,360
2091 -it makes trading easy now, you just simply wait for the
2092 -
2093 -524
2094 -00:33:39,360 ~-~-> 00:33:42,510
2095 -setups to unfold in London open and if you're in New York
2096 -
2097 -525
2098 -00:33:42,510 ~-~-> 00:33:44,610
2099 -open trader, I'll toss this and just wait for your buy
2100 -
2101 -526
2102 -00:33:44,610 ~-~-> 00:33:48,570
2103 -signals in here as well. Okay. But looking at how price
2104 -
2105 -527
2106 -00:33:48,570 ~-~-> 00:33:52,770
2107 -trades at the London open, we would expect to see price drop
2108 -
2109 -528
2110 -00:33:52,770 ~-~-> 00:33:58,200
2111 -down, okay, out of the Asian range, or if it breaks out
2112 -
2113 -529
2114 -00:33:58,200 ~-~-> 00:34:01,080
2115 -initially if it trades back down into the range look to
2116 -
2117 -530
2118 -00:34:01,080 ~-~-> 00:34:03,270
2119 -trade optimal trade entries wallets inside the Asian range.
2120 -
2121 -531
2122 -00:34:03,270 ~-~-> 00:34:06,210
2123 -And we'll look more about that and when we have the actual
2124 -
2125 -532
2126 -00:34:06,330 ~-~-> 00:34:07,410
2127 -diagrams and such.
2128 -
2129 -533
2130 -00:34:08,490 ~-~-> 00:34:09,030
2131 -But
2132 -
2133 -534
2134 -00:34:10,110 ~-~-> 00:34:12,960
2135 -if we are trading with that premise, it's bullish,
2136 -
2137 -535
2138 -00:34:13,860 ~-~-> 00:34:14,910
2139 -and it's Sunday.
2140 -
2141 -536
2142 -00:34:15,689 ~-~-> 00:34:20,039
2143 -What's your homework, hopefully, leading up to that we're
2144 -
2145 -537
2146 -00:34:20,039 ~-~-> 00:34:22,769
2147 -probably going to see the low the weak form by Tuesday.
2148 -
2149 -538
2150 -00:34:23,429 ~-~-> 00:34:27,749
2151 -Okay, so if you're really capable of trading the London
2152 -
2153 -539
2154 -00:34:27,749 ~-~-> 00:34:32,279
2155 -open, and you can sit down and be a part of Monday's London
2156 -
2157 -540
2158 -00:34:32,279 ~-~-> 00:34:35,729
2159 -open or Tuesday's long and open if you have that capability
2160 -
2161 -541
2162 -00:34:35,729 ~-~-> 00:34:40,709
2163 -to do that timewise and it fits your lifestyle. Many times
2164 -
2165 -542
2166 -00:34:40,709 ~-~-> 00:34:43,169
2167 -you can actually end up buying the low of the week. And I
2168 -
2169 -543
2170 -00:34:43,169 ~-~-> 00:34:47,729
2171 -can tell you, that's absolutely mind blowing when you look
2172 -
2173 -544
2174 -00:34:47,729 ~-~-> 00:34:50,939
2175 -at how many times it can be done. And even if you get a
2176 -
2177 -545
2178 -00:34:50,939 ~-~-> 00:34:53,909
2179 -small portion of the weekly range, okay, if the average
2180 -
2181 -546
2182 -00:34:53,909 ~-~-> 00:34:59,189
2183 -daily range is 100 pips, the weekly average range could be
2184 -
2185 -547
2186 -00:34:59,189 ~-~-> 00:35:01,979
2187 -several hundred pips. So if you get, you know, small portion
2188 -
2189 -548
2190 -00:35:01,979 ~-~-> 00:35:06,149
2191 -of that, you can look at anywhere between 150 to 300 pips,
2192 -
2193 -549
2194 -00:35:06,179 ~-~-> 00:35:10,769
2195 -you know, as a potential pitfall. So, even though we're
2196 -
2197 -550
2198 -00:35:11,819 ~-~-> 00:35:14,939
2199 -specifically talking about day trading here, I want you to
2200 -
2201 -551
2202 -00:35:14,939 ~-~-> 00:35:17,639
2203 -use these concepts to kind of broaden your perspective and
2204 -
2205 -552
2206 -00:35:17,639 ~-~-> 00:35:20,219
2207 -say, Hey, I can use these concepts really to get in sync
2208 -
2209 -553
2210 -00:35:20,219 ~-~-> 00:35:24,599
2211 -with these higher timeframe trades, and not, you know, exit
2212 -
2213 -554
2214 -00:35:24,599 ~-~-> 00:35:27,929
2215 -the trades too prematurely and allow my new trades to pay me
2216 -
2217 -555
2218 -00:35:27,929 ~-~-> 00:35:28,259
2219 -more.
2220 -
2221 -556
2222 -00:35:34,110 ~-~-> 00:35:37,950
2223 -Alright, so now thinking with this premise in mind, if we're
2224 -
2225 -557
2226 -00:35:37,950 ~-~-> 00:35:44,310
2227 -bullish, okay, this could be a one hour chart. Okay. We're
2228 -
2229 -558
2230 -00:35:44,310 ~-~-> 00:35:48,330
2231 -looking at a possible bullish move going higher. We've seen
2232 -
2233 -559
2234 -00:35:48,330 ~-~-> 00:35:53,010
2235 -price trading lower. Okay. Now, if the previous chart shows
2236 -
2237 -560
2238 -00:35:53,130 ~-~-> 00:35:56,340
2239 -that market structure shift bullishness, if we zoom down to
2240 -
2241 -561
2242 -00:35:56,340 ~-~-> 00:35:58,500
2243 -a one hour chart, we can actually start seeing smaller swing
2244 -
2245 -562
2246 -00:35:58,500 ~-~-> 00:36:01,530
2247 -highs. Okay, that would be You know, assume that we have
2248 -
2249 -563
2250 -00:36:01,530 ~-~-> 00:36:03,900
2251 -this higher time frame support level. If that market
2252 -
2253 -564
2254 -00:36:03,900 ~-~-> 00:36:06,510
2255 -structure breaks here on the hourly basis on a smaller short
2256 -
2257 -565
2258 -00:36:06,510 ~-~-> 00:36:13,320
2259 -term, we can start seeing more time sensitive price swings,
2260 -
2261 -566
2262 -00:36:13,350 ~-~-> 00:36:18,030
2263 -okay? And prices still gonna swing, you know, based on price
2264 -
2265 -567
2266 -00:36:18,030 ~-~-> 00:36:20,310
2267 -action, okay? You're not going to, you know, change where
2268 -
2269 -568
2270 -00:36:20,310 ~-~-> 00:36:20,940
2271 -it's going to go.
2272 -
2273 -569
2274 -00:36:21,330 ~-~-> 00:36:22,590
2275 -But your perspective on
2276 -
2277 -570
2278 -00:36:22,680 ~-~-> 00:36:26,670
2279 -looking at it, okay? can be really skewed based on the
2280 -
2281 -571
2282 -00:36:26,670 ~-~-> 00:36:29,100
2283 -timeframe you're looking at. So if we're looking at just
2284 -
2285 -572
2286 -00:36:29,100 ~-~-> 00:36:34,020
2287 -simply this high to this low, this could have been long you
2288 -
2289 -573
2290 -00:36:34,020 ~-~-> 00:36:37,140
2291 -into believing this could be a sell off, okay? Our optimal
2292 -
2293 -574
2294 -00:36:37,140 ~-~-> 00:36:40,950
2295 -trade entry sell, but having that higher time frame premise
2296 -
2297 -575
2298 -00:36:40,950 ~-~-> 00:36:43,920
2299 -in mind, and this is being a higher level key support level,
2300 -
2301 -576
2302 -00:36:44,100 ~-~-> 00:36:46,920
2303 -okay, that we talked about earlier. The premise is that
2304 -
2305 -577
2306 -00:36:46,920 ~-~-> 00:36:50,340
2307 -we're expecting market structure to shift the bullishness,
2308 -
2309 -578
2310 -00:36:50,550 ~-~-> 00:36:53,250
2311 -okay, so every time we see a retracement, all that's going
2312 -
2313 -579
2314 -00:36:53,250 ~-~-> 00:36:56,190
2315 -to do is likely set up a new buying opportunity. So every
2316 -
2317 -580
2318 -00:36:56,190 ~-~-> 00:36:59,340
2319 -time price creates a new range, we just run our fit from
2320 -
2321 -581
2322 -00:36:59,340 ~-~-> 00:37:01,650
2323 -that and look for the To send nice Chase Mobile optimal
2324 -
2325 -582
2326 -00:37:01,650 ~-~-> 00:37:05,160
2327 -trade entries, okay? Obviously you would be looking for
2328 -
2329 -583
2330 -00:37:05,580 ~-~-> 00:37:08,850
2331 -reflections as well, this could be a very reflection is this
2332 -
2333 -584
2334 -00:37:08,940 ~-~-> 00:37:13,410
2335 -low in here down to this low here could present an optimal
2336 -
2337 -585
2338 -00:37:13,410 ~-~-> 00:37:16,830
2339 -trade entry. Yes here, but it could also be reflection as
2340 -
2341 -586
2342 -00:37:16,830 ~-~-> 00:37:19,500
2343 -well. So don't just think in terms of you always have to
2344 -
2345 -587
2346 -00:37:19,500 ~-~-> 00:37:22,080
2347 -have the optimal trade entry. It's the easiest one I teach,
2348 -
2349 -588
2350 -00:37:22,110 ~-~-> 00:37:27,870
2351 -but other patterns like you could have ICT Grail in here,
2352 -
2353 -589
2354 -00:37:28,260 ~-~-> 00:37:31,260
2355 -tied to trend following. It could be a stinger in here,
2356 -
2357 -590
2358 -00:37:31,770 ~-~-> 00:37:35,850
2359 -okay, all these types of patterns. Now, you know, if you
2360 -
2361 -591
2362 -00:37:35,850 ~-~-> 00:37:37,590
2363 -have this higher time frame premise and when you start
2364 -
2365 -592
2366 -00:37:37,590 ~-~-> 00:37:40,230
2367 -looking for these patterns to unfold with that directional
2368 -
2369 -593
2370 -00:37:40,230 ~-~-> 00:37:45,660
2371 -premise, okay, so having that unfold on an hourly basis, and
2372 -
2373 -594
2374 -00:37:45,660 ~-~-> 00:37:48,720
2375 -having your dynamic support resistance levels carried from
2376 -
2377 -595
2378 -00:37:48,720 ~-~-> 00:37:51,570
2379 -the higher time frame down to these shorter time frames, you
2380 -
2381 -596
2382 -00:37:51,570 ~-~-> 00:37:57,060
2383 -can expect more clear support clears price swings based on
2384 -
2385 -597
2386 -00:37:57,060 ~-~-> 00:38:02,910
2387 -the hourly chart your week. management of price swings intra
2388 -
2389 -598
2390 -00:38:02,910 ~-~-> 00:38:06,480
2391 -week should be focused on the one hour timeframe. So once
2392 -
2393 -599
2394 -00:38:06,480 ~-~-> 00:38:10,170
2395 -you arrive based on the daily and four hour charts, you can
2396 -
2397 -600
2398 -00:38:10,170 ~-~-> 00:38:12,480
2399 -really work the rest of the week off of an hourly chart,
2400 -
2401 -601
2402 -00:38:12,690 ~-~-> 00:38:15,180
2403 -just using support resistance off that and measuring swings
2404 -
2405 -602
2406 -00:38:15,240 ~-~-> 00:38:18,270
2407 -using your fibs. But when you enter the trades, when you
2408 -
2409 -603
2410 -00:38:18,270 ~-~-> 00:38:20,310
2411 -take action, and you're actually part of the trades, you
2412 -
2413 -604
2414 -00:38:20,310 ~-~-> 00:38:23,550
2415 -manage those trades on a 15 minute timeframe. Okay, so have
2416 -
2417 -605
2418 -00:38:23,550 ~-~-> 00:38:27,060
2419 -that in your notes. I know you're probably saying Why didn't
2420 -
2421 -606
2422 -00:38:27,060 ~-~-> 00:38:29,160
2423 -you give me a screen shot with all this stuff written down,
2424 -
2425 -607
2426 -00:38:29,160 ~-~-> 00:38:32,010
2427 -it's so much easier just to cut and paste now. Keep yourself
2428 -
2429 -608
2430 -00:38:32,010 ~-~-> 00:38:35,310
2431 -a log, keep yourself a journal, make, make your own notes,
2432 -
2433 -609
2434 -00:38:35,340 ~-~-> 00:38:38,430
2435 -okay, if you write it down, you have a more higher chance of
2436 -
2437 -610
2438 -00:38:38,430 ~-~-> 00:38:41,670
2439 -remembering it versus me just talking about it. Okay. So
2440 -
2441 -611
2442 -00:38:41,670 ~-~-> 00:38:44,730
2443 -again, you're looking at the daily and four hour looking for
2444 -
2445 -612
2446 -00:38:44,730 ~-~-> 00:38:46,890
2447 -market structure to break into higher timeframe directional
2448 -
2449 -613
2450 -00:38:46,890 ~-~-> 00:38:51,390
2451 -premise, where's price trying to reach Okay. Then once you
2452 -
2453 -614
2454 -00:38:51,390 ~-~-> 00:38:55,500
2455 -have a market structure break, okay, it makes the trading
2456 -
2457 -615
2458 -00:38:55,500 ~-~-> 00:38:58,230
2459 -very easy for you in terms of directional premise because
2460 -
2461 -616
2462 -00:38:58,230 ~-~-> 00:39:00,600
2463 -that's the direction you're gonna want to trade in. Based on
2464 -
2465 -617
2466 -00:39:00,600 ~-~-> 00:39:03,570
2467 -the daily and indoor four hour, the four hour is going to be
2468 -
2469 -618
2470 -00:39:03,570 ~-~-> 00:39:07,680
2471 -much more sensitive. So if you have a little bit firmer
2472 -
2473 -619
2474 -00:39:07,680 ~-~-> 00:39:09,840
2475 -understanding of price action, you could probably just live
2476 -
2477 -620
2478 -00:39:09,840 ~-~-> 00:39:13,710
2479 -on the four hour. But also make sure that you don't forget,
2480 -
2481 -621
2482 -00:39:13,710 ~-~-> 00:39:16,470
2483 -there's probably daily support resistance and weekly support
2484 -
2485 -622
2486 -00:39:16,470 ~-~-> 00:39:19,860
2487 -resistance and monthly even support and resistance that may
2488 -
2489 -623
2490 -00:39:19,860 ~-~-> 00:39:22,380
2491 -be a factor that you still have to contend with. So we're
2492 -
2493 -624
2494 -00:39:22,380 ~-~-> 00:39:28,350
2495 -not negating to you the benefit of having a hard time frame
2496 -
2497 -625
2498 -00:39:28,350 ~-~-> 00:39:31,650
2499 -top down analysis. But if you're just starting off and you
2500 -
2501 -626
2502 -00:39:31,650 ~-~-> 00:39:34,200
2503 -just want to get in here and start chasing action, this is,
2504 -
2505 -627
2506 -00:39:34,230 ~-~-> 00:39:37,380
2507 -you know, obviously I can do it a deal in four hour. But
2508 -
2509 -628
2510 -00:39:37,380 ~-~-> 00:39:40,020
2511 -once you have your directional premise based on those are
2512 -
2513 -629
2514 -00:39:40,020 ~-~-> 00:39:43,890
2515 -timeframes you live on the daily chart, I'm sorry that the
2516 -
2517 -630
2518 -00:39:43,890 ~-~-> 00:39:47,940
2519 -60 minute chart for your intra week swings is watching the
2520 -
2521 -631
2522 -00:39:47,940 ~-~-> 00:39:51,240
2523 -one hour chart and then watch how price swings within that
2524 -
2525 -632
2526 -00:39:51,270 ~-~-> 00:39:55,200
2527 -timeframe. But if you enter the trades, you manage them on a
2528 -
2529 -633
2530 -00:39:55,200 ~-~-> 00:39:57,750
2531 -15 minute timeframe. Okay, you managed to trade on a 15
2532 -
2533 -634
2534 -00:39:57,750 ~-~-> 00:40:01,440
2535 -minute chart and that's because If you are at some point
2536 -
2537 -635
2538 -00:40:01,440 ~-~-> 00:40:03,600
2539 -going to move your stop loss and trail it you want to be
2540 -
2541 -636
2542 -00:40:03,600 ~-~-> 00:40:09,090
2543 -using the previous two swing lows prior to where price price
2544 -
2545 -637
2546 -00:40:09,090 ~-~-> 00:40:12,420
2547 -is trading at now for instance say we're here and we saw a
2548 -
2549 -638
2550 -00:40:12,420 ~-~-> 00:40:15,660
2551 -price run up and blow out these highs are long. Here's a
2552 -
2553 -639
2554 -00:40:15,660 ~-~-> 00:40:18,960
2555 -swing low and here's a swing low and assuming as a 15 minute
2556 -
2557 -640
2558 -00:40:18,960 ~-~-> 00:40:22,110
2559 -chart no no no I mean probably be confusing you talking
2560 -
2561 -641
2562 -00:40:22,110 ~-~-> 00:40:25,050
2563 -about different timeframes but just go back over the video
2564 -
2565 -642
2566 -00:40:25,230 ~-~-> 00:40:29,430
2567 -just rewind it okay but this this low and this low here is
2568 -
2569 -643
2570 -00:40:29,430 ~-~-> 00:40:32,910
2571 -to swing lows prior to current price action so assuming
2572 -
2573 -644
2574 -00:40:33,150 ~-~-> 00:40:36,270
2575 -price is trading here breaking out above these highs here
2576 -
2577 -645
2578 -00:40:36,270 ~-~-> 00:40:40,020
2579 -more long something back here or even here. This swing low
2580 -
2581 -646
2582 -00:40:40,020 ~-~-> 00:40:43,860
2583 -and this swing low are the last two swing lows it most
2584 -
2585 -647
2586 -00:40:43,860 ~-~-> 00:40:47,550
2587 -recently formed. My trailing stop loss will be to 10 pips
2588 -
2589 -648
2590 -00:40:47,550 ~-~-> 00:40:50,130
2591 -below this low here. Okay, so in other words, I'm managing
2592 -
2593 -649
2594 -00:40:50,130 ~-~-> 00:40:55,920
2595 -my long with a stop 10 pips below the second most recent
2596 -
2597 -650
2598 -00:40:55,920 ~-~-> 00:40:59,850
2599 -swing low, okay, and obviously just reversing it soon
2600 -
2601 -651
2602 -00:40:59,850 ~-~-> 00:41:04,080
2603 -enough. We got short back in here, okay, and prices now
2604 -
2605 -652
2606 -00:41:04,110 ~-~-> 00:41:07,800
2607 -breaking down here below this low, this is one swing
2608 -
2609 -653
2610 -00:41:08,010 ~-~-> 00:41:08,520
2611 -low
2612 -
2613 -654
2614 -00:41:09,539 ~-~-> 00:41:12,359
2615 -and this swing low here now the the caveat is is you got to
2616 -
2617 -655
2618 -00:41:12,359 ~-~-> 00:41:15,749
2619 -have a higher swing low than the first one. So this one
2620 -
2621 -656
2622 -00:41:15,749 ~-~-> 00:41:20,669
2623 -would not be considered this swing high in this swing high.
2624 -
2625 -657
2626 -00:41:20,849 ~-~-> 00:41:23,669
2627 -This is your second one back it's worse as prices moving in
2628 -
2629 -658
2630 -00:41:23,669 ~-~-> 00:41:26,429
2631 -your favor on a 15 minute timeframe, I would look for the
2632 -
2633 -659
2634 -00:41:26,429 ~-~-> 00:41:30,119
2635 -most recent swing high on a 15 minute basis if I'm short and
2636 -
2637 -660
2638 -00:41:30,119 ~-~-> 00:41:32,999
2639 -then go back and find the higher swing high than that on a
2640 -
2641 -661
2642 -00:41:32,999 ~-~-> 00:41:36,749
2643 -15 minute basis and I would trail my stop loss 15 pips, I'm
2644 -
2645 -662
2646 -00:41:36,749 ~-~-> 00:41:39,629
2647 -sorry 10 pips above that, okay, so my stop would be above
2648 -
2649 -663
2650 -00:41:39,629 ~-~-> 00:41:42,779
2651 -here and I would continue to do that as price trades lower.
2652 -
2653 -664
2654 -00:41:42,869 ~-~-> 00:41:45,659
2655 -Okay, so in this case, once we break this low here, trading
2656 -
2657 -665
2658 -00:41:45,659 ~-~-> 00:41:50,009
2659 -right into that support, this would be the swing high and
2660 -
2661 -666
2662 -00:41:50,009 ~-~-> 00:41:51,899
2663 -then the previous swing high. So this is the most recent
2664 -
2665 -667
2666 -00:41:51,899 ~-~-> 00:41:54,959
2667 -swing high at this point here. So it'd be 10 pips above
2668 -
2669 -668
2670 -00:41:54,959 ~-~-> 00:41:57,599
2671 -this. You can see even though this is a crude diagram and
2672 -
2673 -669
2674 -00:41:57,599 ~-~-> 00:42:00,629
2675 -drawing, check out price action on you Some of the moves
2676 -
2677 -670
2678 -00:42:00,629 ~-~-> 00:42:03,269
2679 -that's recently happened and use a 15 minute timeframe and
2680 -
2681 -671
2682 -00:42:03,269 ~-~-> 00:42:06,389
2683 -you'll see that many times it keeps you in the trade. So
2684 -
2685 -672
2686 -00:42:07,229 ~-~-> 00:42:09,749
2687 -that's how we break our charts down. That's the timeframe.
2688 -
2689 -673
2690 -00:42:10,139 ~-~-> 00:42:13,259
2691 -Use usage and utilization, how we look from the higher time
2692 -
2693 -674
2694 -00:42:13,259 ~-~-> 00:42:15,659
2695 -frame down to the lower timeframe and we would look for the
2696 -
2697 -675
2698 -00:42:15,809 ~-~-> 00:42:18,689
2699 -one hour chart to create its own support resistance as well.
2700 -
2701 -676
2702 -00:42:19,139 ~-~-> 00:42:22,529
2703 -Okay, and then obviously looking for upside objectives based
2704 -
2705 -677
2706 -00:42:22,529 ~-~-> 00:42:27,839
2707 -on swings on the one hour chart and 15 minute chart. Okay,
2708 -
2709 -678
2710 -00:42:27,869 ~-~-> 00:42:30,269
2711 -so when your fibs on these swings here for getting
2712 -
2713 -679
2714 -00:42:30,269 ~-~-> 00:42:32,309
2715 -extensions and fit expansions
2716 -
2717 -680
2718 -00:42:33,630 ~-~-> 00:42:34,560
2719 -will serve you well.
2720 -
2721 -681
2722 -00:42:41,430 ~-~-> 00:42:46,980
2723 -Okay, we are looking at what you see typically unfold in
2724 -
2725 -682
2726 -00:42:47,220 ~-~-> 00:42:52,890
2727 -London open. Alright, we're looking at a price move here.
2728 -
2729 -683
2730 -00:42:53,280 ~-~-> 00:42:59,010
2731 -Okay, we have an Asian range and we'll see typically a
2732 -
2733 -684
2734 -00:42:59,010 ~-~-> 00:43:02,280
2735 -initial pop up out of the Asian range as a fake out this is
2736 -
2737 -685
2738 -00:43:02,280 ~-~-> 00:43:06,870
2739 -when they tag the pending orders for those that may be
2740 -
2741 -686
2742 -00:43:06,870 ~-~-> 00:43:10,560
2743 -short. They'll take those individuals out and those that
2744 -
2745 -687
2746 -00:43:10,560 ~-~-> 00:43:13,200
2747 -want to be long on a breakout system, okay, they'll run the
2748 -
2749 -688
2750 -00:43:13,200 ~-~-> 00:43:15,510
2751 -market up here and trip those individuals into the market
2752 -
2753 -689
2754 -00:43:16,020 ~-~-> 00:43:18,750
2755 -because that will create a pocket of liquidity. Okay,
2756 -
2757 -690
2758 -00:43:18,750 ~-~-> 00:43:21,180
2759 -dealers will take it up there, they'll fill it, okay, and
2760 -
2761 -691
2762 -00:43:21,180 ~-~-> 00:43:24,060
2763 -then they'll trade it lower. Okay, this is the engineered
2764 -
2765 -692
2766 -00:43:24,480 ~-~-> 00:43:28,650
2767 -price decline. Okay, now think what was going on over here?
2768 -
2769 -693
2770 -00:43:28,830 ~-~-> 00:43:31,740
2771 -price has been rallying. Okay, if we're in a bullish market
2772 -
2773 -694
2774 -00:43:31,740 ~-~-> 00:43:34,980
2775 -structure, okay. Don't think just simply because we're
2776 -
2777 -695
2778 -00:43:34,980 ~-~-> 00:43:38,160
2779 -falling out of bed in London opens early session, and that's
2780 -
2781 -696
2782 -00:43:38,160 ~-~-> 00:43:41,490
2783 -not going to always equate to it's going you know, straight
2784 -
2785 -697
2786 -00:43:41,490 ~-~-> 00:43:45,720
2787 -to Hades in think about price action when it's going lower.
2788 -
2789 -698
2790 -00:43:46,350 ~-~-> 00:43:49,470
2791 -Okay, it's going to go lower to make a low and then trade
2792 -
2793 -699
2794 -00:43:49,470 ~-~-> 00:43:52,410
2795 -higher. Okay. So this is the price engineering that takes
2796 -
2797 -700
2798 -00:43:52,410 ~-~-> 00:43:52,920
2799 -place.
2800 -
2801 -701
2802 -00:43:54,300 ~-~-> 00:43:55,020
2803 -Over here,
2804 -
2805 -702
2806 -00:43:55,710 ~-~-> 00:43:58,890
2807 -this low back here, maybe a previous day's low, it could be
2808 -
2809 -703
2810 -00:43:58,890 ~-~-> 00:44:04,590
2811 -a previous week's low It could be a higher time frame
2812 -
2813 -704
2814 -00:44:04,590 ~-~-> 00:44:07,800
2815 -support resistance level, it could be a trinity level, it
2816 -
2817 -705
2818 -00:44:07,800 ~-~-> 00:44:13,410
2819 -could be pivots, it could be a whole list of things that
2820 -
2821 -706
2822 -00:44:14,340 ~-~-> 00:44:17,940
2823 -caused the price as in price action to rally up from that
2824 -
2825 -707
2826 -00:44:17,940 ~-~-> 00:44:22,590
2827 -point. But you would run your fib from this point here to
2828 -
2829 -708
2830 -00:44:22,590 ~-~-> 00:44:26,400
2831 -the highest high, either inside of this day, or whatever
2832 -
2833 -709
2834 -00:44:26,400 ~-~-> 00:44:29,250
2835 -high it's formed here. And you would pull that fib here and
2836 -
2837 -710
2838 -00:44:29,250 ~-~-> 00:44:32,100
2839 -then you would look for optimal trade entry to pull back
2840 -
2841 -711
2842 -00:44:32,100 ~-~-> 00:44:37,710
2843 -into as the Judas swing breaks down. That's how you time
2844 -
2845 -712
2846 -00:44:37,710 ~-~-> 00:44:41,670
2847 -your London open buys. assuming you're having a bullish
2848 -
2849 -713
2850 -00:44:41,670 ~-~-> 00:44:44,790
2851 -market structure and everything expected to go higher. This
2852 -
2853 -714
2854 -00:44:44,790 ~-~-> 00:44:48,960
2855 -level here needs to have something associated with it. Okay,
2856 -
2857 -715
2858 -00:44:49,470 ~-~-> 00:44:52,590
2859 -words when you see the fib from the low to here. In other
2860 -
2861 -716
2862 -00:44:52,590 ~-~-> 00:44:54,660
2863 -words, this price swing up here, we're trading inside the
2864 -
2865 -717
2866 -00:44:54,660 ~-~-> 00:44:58,890
2867 -range. Okay, so as price starts to retrace, we're trading
2868 -
2869 -718
2870 -00:44:58,890 ~-~-> 00:45:03,030
2871 -within discernable range. low to high or higher highs over
2872 -
2873 -719
2874 -00:45:03,030 ~-~-> 00:45:06,750
2875 -here in this example the previous highs, this is a little
2876 -
2877 -720
2878 -00:45:06,750 ~-~-> 00:45:10,710
2879 -bit slightly lower and then starts to trade down. This is
2880 -
2881 -721
2882 -00:45:10,710 ~-~-> 00:45:14,340
2883 -the Judas swing. Okay now its price is trading lower. Okay
2884 -
2885 -722
2886 -00:45:14,340 ~-~-> 00:45:17,670
2887 -now when you see that happening in London open and you're
2888 -
2889 -723
2890 -00:45:17,670 ~-~-> 00:45:21,900
2891 -part of like chat rooms or forums, you'll see a those that
2892 -
2893 -724
2894 -00:45:21,900 ~-~-> 00:45:25,590
2895 -are brave they'll come out and say that I'm short in
2896 -
2897 -725
2898 -00:45:25,590 ~-~-> 00:45:29,010
2899 -assuming this is the cable, British Pound USD pair they'll
2900 -
2901 -726
2902 -00:45:29,190 ~-~-> 00:45:32,550
2903 -come on board and say I'm short now and you know I'm selling
2904 -
2905 -727
2906 -00:45:32,850 ~-~-> 00:45:37,380
2907 -and I'm 10 pips profit 10 1215 pips profit, it's going
2908 -
2909 -728
2910 -00:45:37,380 ~-~-> 00:45:42,630
2911 -straight down. Yeah, well, right around two to three o'clock
2912 -
2913 -729
2914 -00:45:42,630 ~-~-> 00:45:46,470
2915 -in the morning New York time. what'll happen is is the
2916 -
2917 -730
2918 -00:45:46,470 ~-~-> 00:45:49,680
2919 -market participants that know what's going on. They
2920 -
2921 -731
2922 -00:45:49,680 ~-~-> 00:45:52,080
2923 -understand key support resistance levels, they understand
2924 -
2925 -732
2926 -00:45:52,140 ~-~-> 00:45:59,580
2927 -price structure, okay. There is a huge interest in buying
2928 -
2929 -733
2930 -00:45:59,610 ~-~-> 00:46:03,360
2931 -this The sensitive high level key support resistance level.
2932 -
2933 -734
2934 -00:46:03,660 ~-~-> 00:46:06,090
2935 -Okay? So when they take it down here, there's going to be a
2936 -
2937 -735
2938 -00:46:06,090 ~-~-> 00:46:10,710
2939 -large entity that we call smart money that's going to come
2940 -
2941 -736
2942 -00:46:10,710 ~-~-> 00:46:15,030
2943 -in here and accumulate all kinds of long positions here. So
2944 -
2945 -737
2946 -00:46:15,030 ~-~-> 00:46:18,870
2947 -we're waiting for this to unfold when price does this, okay?
2948 -
2949 -738
2950 -00:46:19,110 ~-~-> 00:46:22,800
2951 -We buy right here. Okay, this is the optimal trade entry in
2952 -
2953 -739
2954 -00:46:22,800 ~-~-> 00:46:26,820
2955 -London open. Now you can look at a one hour chart and see
2956 -
2957 -740
2958 -00:46:26,820 ~-~-> 00:46:30,270
2959 -this, okay, but predominantly, it's a 15 and five minute
2960 -
2961 -741
2962 -00:46:30,270 ~-~-> 00:46:33,210
2963 -chart that you'll see this type of action. When it comes
2964 -
2965 -742
2966 -00:46:33,210 ~-~-> 00:46:36,450
2967 -down to it and you see a five minute optimal trade entry at
2968 -
2969 -743
2970 -00:46:36,450 ~-~-> 00:46:41,700
2971 -that level here. This is where you buy, okay? Now, also,
2972 -
2973 -744
2974 -00:46:42,570 ~-~-> 00:46:44,250
2975 -when price is trading down here, you want to look at
2976 -
2977 -745
2978 -00:46:44,250 ~-~-> 00:46:48,870
2979 -correlated pair SMT. You want to look at USD x SMT
2980 -
2981 -746
2982 -00:46:48,990 ~-~-> 00:46:54,900
2983 -divergence gives some kind of framework to establish some
2984 -
2985 -747
2986 -00:46:54,930 ~-~-> 00:46:58,020
2987 -confidence behind this level, simply because we have a range
2988 -
2989 -748
2990 -00:46:58,020 ~-~-> 00:47:00,000
2991 -here and it trades back down to that level and it's very
2992 -
2993 -749
2994 -00:47:00,000 ~-~-> 00:47:02,520
2995 -bullish, it could still go down a little bit lower than that
2996 -
2997 -750
2998 -00:47:02,520 ~-~-> 00:47:04,470
2999 -and still, you know, ultimately trade up or even continue
3000 -
3001 -751
3002 -00:47:04,470 ~-~-> 00:47:06,360
3003 -going lower. That's how you stop loss orders because we
3004 -
3005 -752
3006 -00:47:06,360 ~-~-> 00:47:09,420
3007 -don't know for certain our analysis is going to be fruitful.
3008 -
3009 -753
3010 -00:47:10,350 ~-~-> 00:47:12,450
3011 -But this is how we would be buying the market in London
3012 -
3013 -754
3014 -00:47:12,450 ~-~-> 00:47:15,780
3015 -open. And obviously as price starts to move up, we will be
3016 -
3017 -755
3018 -00:47:15,780 ~-~-> 00:47:19,560
3019 -looking for the highest it's been established in the early
3020 -
3021 -756
3022 -00:47:19,680 ~-~-> 00:47:23,880
3023 -London open session to be trailed, I'm sorry, tripped and
3024 -
3025 -757
3026 -00:47:23,880 ~-~-> 00:47:27,330
3027 -taken out as upside objectives. Okay. That's again, that's
3028 -
3029 -758
3030 -00:47:27,330 ~-~-> 00:47:30,210
3031 -assuming that we have a bullish market structure and higher
3032 -
3033 -759
3034 -00:47:30,210 ~-~-> 00:47:31,290
3035 -prices are likely.
3036 -
3037 -760
3038 -00:47:35,219 ~-~-> 00:47:37,649
3039 -Alright, so let's look at that a little bit more closely.
3040 -
3041 -761
3042 -00:47:37,949 ~-~-> 00:47:41,429
3043 -Okay, we have an Asian range here that unfolds. And we're
3044 -
3045 -762
3046 -00:47:41,429 ~-~-> 00:47:44,549
3047 -assuming that we are in a bullish market structure. Okay,
3048 -
3049 -763
3050 -00:47:44,549 ~-~-> 00:47:47,189
3051 -we're expecting higher prices, we're expecting the market to
3052 -
3053 -764
3054 -00:47:47,189 ~-~-> 00:47:50,069
3055 -go lower to go higher. Okay. So we're just going to trade
3056 -
3057 -765
3058 -00:47:50,069 ~-~-> 00:47:52,739
3059 -down to a higher level support level. Now this level down
3060 -
3061 -766
3062 -00:47:52,739 ~-~-> 00:47:56,069
3063 -here may be again, could be a previous day's low. It could
3064 -
3065 -767
3066 -00:47:56,069 ~-~-> 00:48:00,689
3067 -be a previous day's high. It could be a previous day's New
3068 -
3069 -768
3070 -00:48:00,689 ~-~-> 00:48:03,869
3071 -York session level, okay, because New York was the most
3072 -
3073 -769
3074 -00:48:03,869 ~-~-> 00:48:08,759
3075 -recent one outside of the asian session, it could be a
3076 -
3077 -770
3078 -00:48:08,759 ~-~-> 00:48:13,169
3079 -previous month high, okay, or weekly, higher low, something
3080 -
3081 -771
3082 -00:48:13,229 ~-~-> 00:48:15,869
3083 -along on a higher time frame premise, okay, there's going to
3084 -
3085 -772
3086 -00:48:15,869 ~-~-> 00:48:20,039
3087 -be something that contributes to the fact that this is a low
3088 -
3089 -773
3090 -00:48:20,039 ~-~-> 00:48:25,799
3091 -forming. But before the Asian range is broken many times
3092 -
3093 -774
3094 -00:48:25,799 ~-~-> 00:48:28,589
3095 -again, we'll see that rally up. It's a turtle soup. So,
3096 -
3097 -775
3098 -00:48:28,979 ~-~-> 00:48:32,009
3099 -again, if you're a scalper, you could see this as an
3100 -
3101 -776
3102 -00:48:32,009 ~-~-> 00:48:35,009
3103 -opportunity to scalp and go lower. I don't trade like that.
3104 -
3105 -777
3106 -00:48:35,219 ~-~-> 00:48:39,059
3107 -Okay. Once the Asian range lows taken out, many times you'll
3108 -
3109 -778
3110 -00:48:39,059 ~-~-> 00:48:42,779
3111 -see it retrace and test that level again. And this could be
3112 -
3113 -779
3114 -00:48:42,779 ~-~-> 00:48:46,589
3115 -your short, okay, if you again are a scalper with the
3116 -
3117 -780
3118 -00:48:46,589 ~-~-> 00:48:49,979
3119 -expectation to take profits down here at the higher time
3120 -
3121 -781
3122 -00:48:49,979 ~-~-> 00:48:53,669
3123 -frame support level, okay, but I am not that type of trader.
3124 -
3125 -782
3126 -00:48:54,779 ~-~-> 00:48:57,629
3127 -This is the setup that I hunt. Okay, if I'm in a bullish
3128 -
3129 -783
3130 -00:48:57,629 ~-~-> 00:49:00,389
3131 -market structure, I'm expecting higher prices. And I
3132 -
3133 -784
3134 -00:49:00,389 ~-~-> 00:49:02,759
3135 -understand that looking at that previous slide we had, this
3136 -
3137 -785
3138 -00:49:02,759 ~-~-> 00:49:07,229
3139 -decline was taking me inside the previous range, okay, or at
3140 -
3141 -786
3142 -00:49:07,229 ~-~-> 00:49:10,619
3143 -price swing that we just discussed. When we get down and
3144 -
3145 -787
3146 -00:49:10,619 ~-~-> 00:49:12,179
3147 -create an optimal trade entry in here, that's where I'm
3148 -
3149 -788
3150 -00:49:12,179 ~-~-> 00:49:16,229
3151 -buying Okay, cuz we have a higher low here in this example,
3152 -
3153 -789
3154 -00:49:16,679 ~-~-> 00:49:20,459
3155 -this this is the cable on the fiber this may have created a
3156 -
3157 -790
3158 -00:49:20,459 ~-~-> 00:49:21,329
3159 -lower low here,
3160 -
3161 -791
3162 -00:49:22,259 ~-~-> 00:49:24,329
3163 -low in fiber,
3164 -
3165 -792
3166 -00:49:24,719 ~-~-> 00:49:27,989
3167 -okay, so you may not see the SMT divergence there, but you
3168 -
3169 -793
3170 -00:49:27,989 ~-~-> 00:49:31,859
3171 -may end up seeing a higher high in the dollar. So you would
3172 -
3173 -794
3174 -00:49:31,859 ~-~-> 00:49:35,489
3175 -end up with a USD x SMT divergence here to support the long
3176 -
3177 -795
3178 -00:49:36,029 ~-~-> 00:49:39,719
3179 -on the cable. Obviously, when you see the market structure
3180 -
3181 -796
3182 -00:49:39,719 ~-~-> 00:49:44,669
3183 -shift on the intraday basis, if you miss the optimal trade
3184 -
3185 -797
3186 -00:49:44,669 ~-~-> 00:49:47,489
3187 -entry here, you could look for another opportunity to get
3188 -
3189 -798
3190 -00:49:47,699 ~-~-> 00:49:52,289
3191 -get long and before it starts to go off on a tear. And then
3192 -
3193 -799
3194 -00:49:52,319 ~-~-> 00:49:54,869
3195 -obviously we'd be looking for average daily range to
3196 -
3197 -800
3198 -00:49:54,869 ~-~-> 00:49:58,529
3199 -fulfill. I do not consider average daily range now average
3200 -
3201 -801
3202 -00:49:58,529 ~-~-> 00:50:03,419
3203 -daily range is A tool that you can get off of most
3204 -
3205 -802
3206 -00:50:03,419 ~-~-> 00:50:05,999
3207 -platforms, you just pull up the indicator in this look at
3208 -
3209 -803
3210 -00:50:05,999 ~-~-> 00:50:08,339
3211 -what the average daily ranges for the last five days what I
3212 -
3213 -804
3214 -00:50:08,339 ~-~-> 00:50:12,599
3215 -use, predominantly, I'm not going to go into other ranges of
3216 -
3217 -805
3218 -00:50:12,629 ~-~-> 00:50:16,709
3219 -average daily range, I use others, but most of my analysis
3220 -
3221 -806
3222 -00:50:16,769 ~-~-> 00:50:21,689
3223 -is based on a five day average daily range. So I'll be
3224 -
3225 -807
3226 -00:50:21,689 ~-~-> 00:50:28,979
3227 -utilizing the MT four tool that I shared on the internet for
3228 -
3229 -808
3230 -00:50:28,979 ~-~-> 00:50:32,879
3231 -my average daily range for five day basis. I don't even load
3232 -
3233 -809
3234 -00:50:32,879 ~-~-> 00:50:37,349
3235 -that up until I get to 10 GMT. Okay, so have that in your
3236 -
3237 -810
3238 -00:50:37,349 ~-~-> 00:50:42,149
3239 -notes at 10 GMT, that is when you open up your average daily
3240 -
3241 -811
3242 -00:50:42,149 ~-~-> 00:50:46,109
3243 -range, okay, and then whatever that level it shoots for, for
3244 -
3245 -812
3246 -00:50:46,109 ~-~-> 00:50:49,229
3247 -a projected high, that's what you'd be aiming for for the
3248 -
3249 -813
3250 -00:50:49,229 ~-~-> 00:50:52,559
3251 -day. Now, it doesn't always get to those levels. Okay, many
3252 -
3253 -814
3254 -00:50:52,559 ~-~-> 00:50:55,529
3255 -times it'll probably fall short of it in the meantime, so do
3256 -
3257 -815
3258 -00:50:55,529 ~-~-> 00:50:57,599
3259 -well behind and we'll talk about that later on in the video.
3260 -
3261 -816
3262 -00:50:59,099 ~-~-> 00:51:00,659
3263 -But and Unless
3264 -
3265 -817
3266 -00:51:00,749 ~-~-> 00:51:03,359
3267 -average daily range has been fulfilled if we get an
3268 -
3269 -818
3270 -00:51:03,479 ~-~-> 00:51:07,319
3271 -retracement in the New York session and by pulling your
3272 -
3273 -819
3274 -00:51:07,319 ~-~-> 00:51:11,519
3275 -Fibonacci based on swings from the London open session, we
3276 -
3277 -820
3278 -00:51:11,519 ~-~-> 00:51:13,439
3279 -could get another optimal trade entry in here to get long
3280 -
3281 -821
3282 -00:51:13,439 ~-~-> 00:51:16,709
3283 -and fulfilled the rest of the day. So if you're a type of
3284 -
3285 -822
3286 -00:51:16,709 ~-~-> 00:51:19,829
3287 -trader that wants to add to winning trader winning trades
3288 -
3289 -823
3290 -00:51:19,829 ~-~-> 00:51:23,009
3291 -that are open, this is one way you could do it or you could
3292 -
3293 -824
3294 -00:51:23,009 ~-~-> 00:51:27,329
3295 -take profits here you know and then to take another smaller
3296 -
3297 -825
3298 -00:51:27,329 ~-~-> 00:51:30,659
3299 -position in here, okay, I'm not advocating you told me you
3300 -
3301 -826
3302 -00:51:30,659 ~-~-> 00:51:33,329
3303 -should trade like that, but it's a lot of freedom involved.
3304 -
3305 -827
3306 -00:51:33,389 ~-~-> 00:51:35,939
3307 -I have this understanding because you can apply it to
3308 -
3309 -828
3310 -00:51:35,939 ~-~-> 00:51:39,389
3311 -whatever type of trader you are. Me, if I went long down
3312 -
3313 -829
3314 -00:51:39,389 ~-~-> 00:51:43,889
3315 -here, my stop loss will remain below the daily low. Okay, so
3316 -
3317 -830
3318 -00:51:43,889 ~-~-> 00:51:46,139
3319 -that's one of the important things that if you're a day
3320 -
3321 -831
3322 -00:51:46,139 ~-~-> 00:51:49,739
3323 -trader and you're trading London, I do not share my stop
3324 -
3325 -832
3326 -00:51:49,739 ~-~-> 00:51:52,679
3327 -loss inside the range once the lows formed in London.
3328 -
3329 -833
3330 -00:51:53,219 ~-~-> 00:51:56,489
3331 -Whatever the short term lows are, I could care less. Okay,
3332 -
3333 -834
3334 -00:51:56,489 ~-~-> 00:51:59,069
3335 -because I know that New York is likely to have a retracement
3336 -
3337 -835
3338 -00:51:59,099 ~-~-> 00:52:02,669
3339 -rather deep sometimes So that's why I take some profits when
3340 -
3341 -836
3342 -00:52:02,669 ~-~-> 00:52:05,609
3343 -we trade back up and blow out the Asian range highs again,
3344 -
3345 -837
3346 -00:52:05,669 ~-~-> 00:52:10,679
3347 -once we dip down, I'm taking sometimes 30% 50% most cases
3348 -
3349 -838
3350 -00:52:10,679 ~-~-> 00:52:14,489
3351 -and sometimes even 70% of my trade off at that level. Now
3352 -
3353 -839
3354 -00:52:14,489 ~-~-> 00:52:17,969
3355 -what? What establishes that, that parameter? Well, if I'm
3356 -
3357 -840
3358 -00:52:17,969 ~-~-> 00:52:21,089
3359 -trading against the higher time frame premise, I'm taking
3360 -
3361 -841
3362 -00:52:21,299 ~-~-> 00:52:28,439
3363 -70% off here. Okay? If I'm trading with the higher premise
3364 -
3365 -842
3366 -00:52:28,469 ~-~-> 00:52:33,059
3367 -in mind, I'm taking 30% off here and leaving 70%. One, we're
3368 -
3369 -843
3370 -00:52:33,089 ~-~-> 00:52:36,869
3371 -reaching for the average daily range or higher, okay? If I'm
3372 -
3373 -844
3374 -00:52:36,869 ~-~-> 00:52:39,239
3375 -just really not sure I'm not comfortable, you know, I'll
3376 -
3377 -845
3378 -00:52:39,239 ~-~-> 00:52:43,589
3379 -take 50% off of the trade here and leave 50% of the initial
3380 -
3381 -846
3382 -00:52:43,619 ~-~-> 00:52:47,519
3383 -entry on long, but my stop loss stays down here, breakeven,
3384 -
3385 -847
3386 -00:52:47,639 ~-~-> 00:52:50,489
3387 -once it goes inside this daily range, it should never come
3388 -
3389 -848
3390 -00:52:50,489 ~-~-> 00:52:52,769
3391 -back down to that low again. If it does the trades, no,
3392 -
3393 -849
3394 -00:52:52,769 ~-~-> 00:52:55,829
3395 -good. Now, if it doesn't take me out, I could care less.
3396 -
3397 -850
3398 -00:52:55,859 ~-~-> 00:52:59,369
3399 -Hopefully I've made first profit in here or I've moved
3400 -
3401 -851
3402 -00:52:59,669 ~-~-> 00:53:04,229
3403 -myself Up progressively enough to limit my risk, even though
3404 -
3405 -852
3406 -00:53:04,229 ~-~-> 00:53:07,739
3407 -my initial stop loss is 30. At some point as prices start to
3408 -
3409 -853
3410 -00:53:07,739 ~-~-> 00:53:12,329
3411 -move here, I'm trimming it down to 20 1510. Five to break
3412 -
3413 -854
3414 -00:53:12,329 ~-~-> 00:53:15,359
3415 -even eventually, okay, but I'm not in a hurry to move my
3416 -
3417 -855
3418 -00:53:15,359 ~-~-> 00:53:18,629
3419 -stop loss up to break even. I'm not not trying to lock in
3420 -
3421 -856
3422 -00:53:18,629 ~-~-> 00:53:22,229
3423 -profits, because you'll learn by doing this over a period of
3424 -
3425 -857
3426 -00:53:22,229 ~-~-> 00:53:26,129
3427 -time that price action intraday many times. They know how
3428 -
3429 -858
3430 -00:53:26,249 ~-~-> 00:53:28,049
3431 -you're going to trade and you're going to trail your stop
3432 -
3433 -859
3434 -00:53:28,049 ~-~-> 00:53:31,139
3435 -loss. And so if you're right on day, and they can tag you
3436 -
3437 -860
3438 -00:53:31,139 ~-~-> 00:53:34,019
3439 -out and your long, think about it, what your stop loss is
3440 -
3441 -861
3442 -00:53:34,019 ~-~-> 00:53:38,459
3443 -going to be. It's a stop for selling, okay? It's going to
3444 -
3445 -862
3446 -00:53:38,459 ~-~-> 00:53:41,549
3447 -become a sell order at the market, who's going to take the
3448 -
3449 -863
3450 -00:53:41,549 ~-~-> 00:53:44,249
3451 -other side of that trade smart money. So if they can take it
3452 -
3453 -864
3454 -00:53:44,249 ~-~-> 00:53:47,549
3455 -back down there and stop you out, and your stop becomes a
3456 -
3457 -865
3458 -00:53:47,549 ~-~-> 00:53:51,749
3459 -market order to sell that that stopped being triggered. Your
3460 -
3461 -866
3462 -00:53:51,749 ~-~-> 00:53:56,729
3463 -long it's sold to them, because they're going to buy, okay,
3464 -
3465 -867
3466 -00:53:57,089 ~-~-> 00:53:59,699
3467 -and then don't be able to own they'll be on the move going
3468 -
3469 -868
3470 -00:53:59,699 ~-~-> 00:54:02,189
3471 -higher. In the average daily range for London close up in
3472 -
3473 -869
3474 -00:54:02,189 ~-~-> 00:54:03,689
3475 -here in terms of time and price theory
3476 -
3477 -870
3478 -00:54:08,369 ~-~-> 00:54:09,089
3479 -right now,
3480 -
3481 -871
3482 -00:54:10,139 ~-~-> 00:54:13,079
3483 -many times you'll see price give you this buying
3484 -
3485 -872
3486 -00:54:13,079 ~-~-> 00:54:14,759
3487 -opportunity. And this may look a little bit different here,
3488 -
3489 -873
3490 -00:54:14,759 ~-~-> 00:54:16,679
3491 -but what I'm gonna bring to your attention as many times
3492 -
3493 -874
3494 -00:54:16,709 ~-~-> 00:54:19,859
3495 -it'll trade up bullish Lee and you'll be long in the London
3496 -
3497 -875
3498 -00:54:19,859 ~-~-> 00:54:23,549
3499 -open. But if we trade up into a higher level key or weekly
3500 -
3501 -876
3502 -00:54:23,549 ~-~-> 00:54:26,579
3503 -or daily or even monthly resistance level up here, in the
3504 -
3505 -877
3506 -00:54:26,579 ~-~-> 00:54:30,449
3507 -trades up into that into the New York or London close
3508 -
3509 -878
3510 -00:54:30,449 ~-~-> 00:54:33,809
3511 -timeframe, many times this will set up a market reversal
3512 -
3513 -879
3514 -00:54:33,809 ~-~-> 00:54:37,109
3515 -profile. Okay? So have that in mind. Don't Don't marry the
3516 -
3517 -880
3518 -00:54:37,109 ~-~-> 00:54:40,109
3519 -vein simply because you have a bullish market structure,
3520 -
3521 -881
3522 -00:54:40,109 ~-~-> 00:54:43,169
3523 -everything's bullish and you're being profitable. Don't hold
3524 -
3525 -882
3526 -00:54:43,169 ~-~-> 00:54:44,759
3527 -on to these things, thinking they're always gonna go to the
3528 -
3529 -883
3530 -00:54:44,759 ~-~-> 00:54:46,979
3531 -moon, okay? Because this is the scenario that might unfold
3532 -
3533 -884
3534 -00:54:46,979 ~-~-> 00:54:51,029
3535 -and if you hold on to your position with too much of the
3536 -
3537 -885
3538 -00:54:51,419 ~-~-> 00:54:54,119
3539 -initial position open, you could end up seeing some of your
3540 -
3541 -886
3542 -00:54:54,119 ~-~-> 00:54:57,509
3543 -profits I think erode and maybe become a losing trade again
3544 -
3545 -887
3546 -00:54:57,509 ~-~-> 00:55:01,319
3547 -that this illustrates the notion Why stocks are important.
3548 -
3549 -888
3550 -00:55:06,539 ~-~-> 00:55:10,079
3551 -Okay, obviously, if we're looking at the reverse and you see
3552 -
3553 -889
3554 -00:55:10,079 ~-~-> 00:55:13,349
3555 -price rallying up here, this is going to illustrate an
3556 -
3557 -890
3558 -00:55:13,349 ~-~-> 00:55:17,069
3559 -hourly chart, we would be looking for the price swings on an
3560 -
3561 -891
3562 -00:55:17,069 ~-~-> 00:55:21,719
3563 -hourly basis intra week to permit are trading based on a
3564 -
3565 -892
3566 -00:55:21,869 ~-~-> 00:55:27,269
3567 -daily and four hour premise or directional bias. Once the
3568 -
3569 -893
3570 -00:55:27,449 ~-~-> 00:55:30,269
3571 -hourly chart gets in sync with that, it just makes your
3572 -
3573 -894
3574 -00:55:30,269 ~-~-> 00:55:34,019
3575 -London open trades very, very easy. And again, this is not
3576 -
3577 -895
3578 -00:55:34,019 ~-~-> 00:55:37,439
3579 -to teach you how to trade every single London open. It's
3580 -
3581 -896
3582 -00:55:37,709 ~-~-> 00:55:41,909
3583 -mainly focused on the real easy setups, okay, and by easy, I
3584 -
3585 -897
3586 -00:55:41,909 ~-~-> 00:55:45,989
3587 -don't mean guaranteed profits, okay. So everything I'm
3588 -
3589 -898
3590 -00:55:45,989 ~-~-> 00:55:49,289
3591 -teaching you here is for you to utilize in a demo account.
3592 -
3593 -899
3594 -00:55:49,469 ~-~-> 00:55:51,839
3595 -Okay, so you got to pay attention. These risk disclaimers in
3596 -
3597 -900
3598 -00:55:51,839 ~-~-> 00:55:54,029
3599 -the beginning, the videos are there for a reason they're not
3600 -
3601 -901
3602 -00:55:54,029 ~-~-> 00:55:57,119
3603 -for decoration. Everything I'm showing you is obviously just
3604 -
3605 -902
3606 -00:55:57,119 ~-~-> 00:55:59,429
3607 -for informational purposes, so utilize them in a demo
3608 -
3609 -903
3610 -00:55:59,429 ~-~-> 00:56:02,129
3611 -account. Don't want credit for you making money. And I
3612 -
3613 -904
3614 -00:56:02,129 ~-~-> 00:56:04,229
3615 -certainly don't want credit for you losing money. So we got
3616 -
3617 -905
3618 -00:56:04,229 ~-~-> 00:56:06,869
3619 -to be responsible with this information. So with all that
3620 -
3621 -906
3622 -00:56:06,869 ~-~-> 00:56:09,209
3623 -said, this being an hourly chart, we got to look at the
3624 -
3625 -907
3626 -00:56:09,209 ~-~-> 00:56:11,909
3627 -swings on an hourly basis. And while this illustrates a
3628 -
3629 -908
3630 -00:56:11,909 ~-~-> 00:56:15,089
3631 -rather crude example of price action, all the things that we
3632 -
3633 -909
3634 -00:56:15,089 ~-~-> 00:56:19,169
3635 -said that were true about break in market structure going
3636 -
3637 -910
3638 -00:56:19,169 ~-~-> 00:56:21,659
3639 -bullish, same thing happens here. When Mark structure
3640 -
3641 -911
3642 -00:56:21,659 ~-~-> 00:56:26,399
3643 -breaking down on this high here, every rally up is going to
3644 -
3645 -912
3646 -00:56:26,399 ~-~-> 00:56:30,569
3647 -be a possible area to look for selling scenarios in London
3648 -
3649 -913
3650 -00:56:30,569 ~-~-> 00:56:33,959
3651 -open. So looking at that. This is what you end up seeing
3652 -
3653 -914
3654 -00:56:33,959 ~-~-> 00:56:38,159
3655 -many times, you'll see this swing down and there's a rally
3656 -
3657 -915
3658 -00:56:38,159 ~-~-> 00:56:41,609
3659 -up in London open, you'll get a optimal trade entry many
3660 -
3661 -916
3662 -00:56:41,609 ~-~-> 00:56:44,759
3663 -times trade up into this specific point here. Okay, but
3664 -
3665 -917
3666 -00:56:44,789 ~-~-> 00:56:47,369
3667 -initially, you'll see the Asian range in here. There's an
3668 -
3669 -918
3670 -00:56:47,369 ~-~-> 00:56:51,869
3671 -initial drop down, pending orders that are tripped, okay,
3672 -
3673 -919
3674 -00:56:52,079 ~-~-> 00:56:56,729
3675 -those that are caught, net sellers, okay. are dragged
3676 -
3677 -920
3678 -00:56:56,729 ~-~-> 00:57:00,299
3679 -against the coals and then all of a sudden, it goes To a
3680 -
3681 -921
3682 -00:57:00,299 ~-~-> 00:57:03,269
3683 -deeper range retracement here optimal trade entry. Once you
3684 -
3685 -922
3686 -00:57:03,269 ~-~-> 00:57:06,179
3687 -see this higher time frame resistance level, again, much in
3688 -
3689 -923
3690 -00:57:06,179 ~-~-> 00:57:09,719
3691 -the same capacity we used for the buy scenario, the same
3692 -
3693 -924
3694 -00:57:09,719 ~-~-> 00:57:13,499
3695 -rules apply here for the sell, you would look for the London
3696 -
3697 -925
3698 -00:57:13,499 ~-~-> 00:57:17,549
3699 -open kill zone in here. Two o'clock in the morning, three
3700 -
3701 -926
3702 -00:57:17,549 ~-~-> 00:57:21,389
3703 -o'clock, four o'clock in the morning, New York time, or 68
3704 -
3705 -927
3706 -00:57:22,019 ~-~-> 00:57:27,359
3707 -or 69 GMT, that window of opportunity for the London open.
3708 -
3709 -928
3710 -00:57:27,749 ~-~-> 00:57:30,689
3711 -That's the kills and you would look to see this actual high
3712 -
3713 -929
3714 -00:57:30,689 ~-~-> 00:57:33,539
3715 -form. And this many times will be the actual high of the day
3716 -
3717 -930
3718 -00:57:33,569 ~-~-> 00:57:36,929
3719 -and then you would just wait for price to try to move into
3720 -
3721 -931
3722 -00:57:36,929 ~-~-> 00:57:42,119
3723 -that new york open timeframe or London close. So looking at
3724 -
3725 -932
3726 -00:57:42,119 ~-~-> 00:57:45,659
3727 -it a little bit more detail again, not in the same way we
3728 -
3729 -933
3730 -00:57:45,659 ~-~-> 00:57:48,209
3731 -did with the buy. We had the Asian range in here, the
3732 -
3733 -934
3734 -00:57:48,209 ~-~-> 00:57:51,749
3735 -initial drop, this doesn't have to happen. But when price
3736 -
3737 -935
3738 -00:57:51,749 ~-~-> 00:57:53,669
3739 -rallies up out of the Asian range many times you'll see it
3740 -
3741 -936
3742 -00:57:53,669 ~-~-> 00:57:57,419
3743 -dip back down into it, giving you a optimal trade entry here
3744 -
3745 -937
3746 -00:57:57,869 ~-~-> 00:58:01,109
3747 -and then rallies on up into a
3748 -
3749 -938
3750 -00:58:01,650 ~-~-> 00:58:02,700
3751 -previous
3752 -
3753 -939
3754 -00:58:03,750 ~-~-> 00:58:06,120
3755 -higher level support resistance level again much in the same
3756 -
3757 -940
3758 -00:58:06,120 ~-~-> 00:58:09,450
3759 -way we talked about for the buy scenario, this setup in
3760 -
3761 -941
3762 -00:58:09,450 ~-~-> 00:58:13,140
3763 -here. Okay, this setup in here is what you're hunting. You
3764 -
3765 -942
3766 -00:58:13,140 ~-~-> 00:58:16,170
3767 -don't want to see this this right here is the Judas you
3768 -
3769 -943
3770 -00:58:16,170 ~-~-> 00:58:19,590
3771 -anticipate this when the market structure is bearish When
3772 -
3773 -944
3774 -00:58:19,590 ~-~-> 00:58:22,740
3775 -You're Expecting lower prices and higher timeframe. So this
3776 -
3777 -945
3778 -00:58:22,740 ~-~-> 00:58:26,580
3779 -is how you fade rallies, you sell rallies, you hear that so
3780 -
3781 -946
3782 -00:58:26,820 ~-~-> 00:58:27,150
3783 -that
3784 -
3785 -947
3786 -00:58:27,510 ~-~-> 00:58:28,080
3787 -market
3788 -
3789 -948
3790 -00:58:29,280 ~-~-> 00:58:32,460
3791 -proverb, you know, buy low, sell high and sell high and buy
3792 -
3793 -949
3794 -00:58:32,460 ~-~-> 00:58:36,450
3795 -lower. Okay, well, you selling rallies and buying dips, this
3796 -
3797 -950
3798 -00:58:36,450 ~-~-> 00:58:39,450
3799 -is what we do. We expect this rally to take place. We don't
3800 -
3801 -951
3802 -00:58:39,450 ~-~-> 00:58:41,790
3803 -chase it. Okay, if you're a scalper sure you can do that.
3804 -
3805 -952
3806 -00:58:41,850 ~-~-> 00:58:44,790
3807 -I'm not a scalper. Okay, I'll teach you how to intraday
3808 -
3809 -953
3810 -00:58:44,790 ~-~-> 00:58:48,930
3811 -trade with the London Express, okay, you're trying to be in
3812 -
3813 -954
3814 -00:58:48,930 ~-~-> 00:58:52,320
3815 -here for an intraday run of several hours, not a couple
3816 -
3817 -955
3818 -00:58:52,320 ~-~-> 00:58:54,870
3819 -minutes. But if you see the optimal trade entry in here
3820 -
3821 -956
3822 -00:58:54,870 ~-~-> 00:58:58,290
3823 -form, okay, once the price starts to break down, it may give
3824 -
3825 -957
3826 -00:58:58,290 ~-~-> 00:59:00,210
3827 -you another secondary optimal trade entry in many time
3828 -
3829 -958
3830 -00:59:00,210 ~-~-> 00:59:03,600
3831 -you'll see that unfold. But usually about this time it's 10
3832 -
3833 -959
3834 -00:59:03,600 ~-~-> 00:59:07,800
3835 -GMT and it's really on their way, okay? And it'll rally back
3836 -
3837 -960
3838 -00:59:07,800 ~-~-> 00:59:14,250
3839 -up into a deep retracement. Using a London open high short
3840 -
3841 -961
3842 -00:59:14,250 ~-~-> 00:59:16,650
3843 -term high, you can see that on a five or 15 minute
3844 -
3845 -962
3846 -00:59:16,650 ~-~-> 00:59:19,170
3847 -timeframe. That's when you'll get your optimal trade entry
3848 -
3849 -963
3850 -00:59:19,350 ~-~-> 00:59:23,820
3851 -for secondary entry or continuation pattern for the daily
3852 -
3853 -964
3854 -00:59:23,820 ~-~-> 00:59:27,030
3855 -trend in the New York open session, then it'll reach for the
3856 -
3857 -965
3858 -00:59:27,030 ~-~-> 00:59:29,550
3859 -average daily range down here five, the average daily range.
3860 -
3861 -966
3862 -00:59:29,820 ~-~-> 00:59:34,770
3863 -So the initial rally obviously again is assuming that we
3864 -
3865 -967
3866 -00:59:34,770 ~-~-> 00:59:38,100
3867 -have a bearish market structure. Okay, the rally up is to
3868 -
3869 -968
3870 -00:59:38,100 ~-~-> 00:59:43,590
3871 -Judas into a known key resistance level. Okay. Now this
3872 -
3873 -969
3874 -00:59:43,590 ~-~-> 00:59:49,320
3875 -level could be pivots with trinities it could be a big
3876 -
3877 -970
3878 -00:59:49,320 ~-~-> 00:59:53,040
3879 -figure. It could be a previous week's high or low. It could
3880 -
3881 -971
3882 -00:59:53,040 ~-~-> 00:59:56,430
3883 -be any time frame support resistance. Okay, look at the
3884 -
3885 -972
3886 -00:59:56,610 ~-~-> 00:59:59,310
3887 -trading key support resistance levels video module. Okay.
3888 -
3889 -973
3890 -00:59:59,310 ~-~-> 01:00:01,470
3891 -gives you all kinds have ideas of what levels you should be
3892 -
3893 -974
3894 -01:00:01,470 ~-~-> 01:00:06,240
3895 -paying attention to. This also, okay, and we talked about
3896 -
3897 -975
3898 -01:00:06,240 ~-~-> 01:00:11,820
3899 -Asian range earlier. When I learned Chris Lori's approach to
3900 -
3901 -976
3902 -01:00:11,850 ~-~-> 01:00:17,580
3903 -applying the Asian range to forex. I learned that if I used
3904 -
3905 -977
3906 -01:00:17,610 ~-~-> 01:00:23,040
3907 -the previous week's Asian range for Friday, and that was a
3908 -
3909 -978
3910 -01:00:23,040 ~-~-> 01:00:27,240
3911 -previous week's Friday's Asian range, and the beginning of
3912 -
3913 -979
3914 -01:00:27,240 ~-~-> 01:00:29,700
3915 -the week, Asian range Sunday and Monday, okay, those agent
3916 -
3917 -980
3918 -01:00:29,700 ~-~-> 01:00:32,850
3919 -ranges extend those levels throughout the entire week, many
3920 -
3921 -981
3922 -01:00:32,850 ~-~-> 01:00:36,780
3923 -times those levels act as support resistance levels, and I
3924 -
3925 -982
3926 -01:00:36,780 ~-~-> 01:00:39,750
3927 -don't know why. So don't ask me. I just noticed one of those
3928 -
3929 -983
3930 -01:00:39,750 ~-~-> 01:00:42,810
3931 -little things in the marketplace. I'm not sure if crystal
3932 -
3933 -984
3934 -01:00:42,840 ~-~-> 01:00:46,830
3935 -Laurie knows about it. But I just I applied to not only my
3936 -
3937 -985
3938 -01:00:46,830 ~-~-> 01:00:49,410
3939 -intraday in other words by having these Asian range highs
3940 -
3941 -986
3942 -01:00:49,410 ~-~-> 01:00:52,380
3943 -and lows. Okay. Laurie teaches to extend that throughout the
3944 -
3945 -987
3946 -01:00:52,380 ~-~-> 01:00:56,010
3947 -entire day. Well, I took that premise and just said okay,
3948 -
3949 -988
3950 -01:00:56,010 ~-~-> 01:00:58,740
3951 -well what happens if I take it and apply it across the week
3952 -
3953 -989
3954 -01:00:58,740 ~-~-> 01:01:02,910
3955 -on key days The beginning and the ending of the week. And
3956 -
3957 -990
3958 -01:01:03,060 ~-~-> 01:01:05,400
3959 -I'll let you decide whether or not there's any merit to it
3960 -
3961 -991
3962 -01:01:05,400 ~-~-> 01:01:07,560
3963 -or not, because I think you're going to be smiling when you
3964 -
3965 -992
3966 -01:01:07,560 ~-~-> 01:01:10,200
3967 -see what happens. Doesn't matter what pair, okay, just look
3968 -
3969 -993
3970 -01:01:10,200 ~-~-> 01:01:11,970
3971 -at Asian range high low on Monday
3972 -
3973 -994
3974 -01:01:12,329 ~-~-> 01:01:12,929
3975 -and Sunday
3976 -
3977 -995
3978 -01:01:13,889 ~-~-> 01:01:16,559
3979 -and on Friday and extend this across the week. So you're
3980 -
3981 -996
3982 -01:01:16,559 ~-~-> 01:01:21,029
3983 -using previous Friday, and this week's Sunday and Monday's
3984 -
3985 -997
3986 -01:01:21,029 ~-~-> 01:01:24,239
3987 -Asian range high low. Okay. And many times I've used the
3988 -
3989 -998
3990 -01:01:24,239 ~-~-> 01:01:27,539
3991 -previous week Sunday in Monday's Asian range high and low to
3992 -
3993 -999
3994 -01:01:27,869 ~-~-> 01:01:31,859
3995 -to draw it across but you'll be fascinated to see how how
3996 -
3997 -1000
3998 -01:01:31,859 ~-~-> 01:01:35,369
3999 -that many times creates dynamic support resistance levels.
4000 -
4001 -1001
4002 -01:01:35,369 ~-~-> 01:01:38,639
4003 -So again, I don't know why. But obviously there's a lot of
4004 -
4005 -1002
4006 -01:01:38,639 ~-~-> 01:01:40,619
4007 -dealing that goes on around there's levels and you know,
4008 -
4009 -1003
4010 -01:01:40,649 ~-~-> 01:01:44,309
4011 -some money in yours doing your business. But you'd be
4012 -
4013 -1004
4014 -01:01:44,309 ~-~-> 01:01:47,879
4015 -looking for obviously, price, trading lower reaching for the
4016 -
4017 -1005
4018 -01:01:47,879 ~-~-> 01:01:49,949
4019 -average daily range, again, not loading the average daily
4020 -
4021 -1006
4022 -01:01:49,949 ~-~-> 01:01:54,089
4023 -range indicator until 10 GMT, which is 5am my time on New
4024 -
4025 -1007
4026 -01:01:54,089 ~-~-> 01:01:58,589
4027 -York. I live in Maryland, but speaking in terms of New York,
4028 -
4029 -1008
4030 -01:01:58,589 ~-~-> 01:02:02,579
4031 -so you guys understand East Coast time. And basically, you
4032 -
4033 -1009
4034 -01:02:02,579 ~-~-> 01:02:06,149
4035 -know, as we get short, we don't trail our stop loss inside
4036 -
4037 -1010
4038 -01:02:06,149 ~-~-> 01:02:08,489
4039 -of the daily range, we keep it at breakeven and we take
4040 -
4041 -1011
4042 -01:02:08,489 ~-~-> 01:02:12,629
4043 -profits at logical areas of support and fib extensions.
4044 -
4045 -1012
4046 -01:02:12,629 ~-~-> 01:02:17,519
4047 -Okay, so by doing that it's easy to absorb retracements on
4048 -
4049 -1013
4050 -01:02:17,519 ~-~-> 01:02:20,879
4051 -open portions of the initial trade because you've already
4052 -
4053 -1014
4054 -01:02:20,879 ~-~-> 01:02:23,129
4055 -banked some profits so even if it comes all the way back and
4056 -
4057 -1015
4058 -01:02:23,129 ~-~-> 01:02:26,189
4059 -takes us out breakeven we've made money on the day so it's
4060 -
4061 -1016
4062 -01:02:26,189 ~-~-> 01:02:30,239
4063 -what it gets to you really want to see that your trading get
4064 -
4065 -1017
4066 -01:02:30,239 ~-~-> 01:02:33,689
4067 -to the level of not feeling to be right and if the trades go
4068 -
4069 -1018
4070 -01:02:33,689 ~-~-> 01:02:38,639
4071 -against you so what either didn't lose much or you take
4072 -
4073 -1019
4074 -01:02:38,639 ~-~-> 01:02:40,919
4075 -first profit or a portion of your profits and if it goes to
4076 -
4077 -1020
4078 -01:02:40,919 ~-~-> 01:02:43,829
4079 -break even is never really breakeven now as you profited
4080 -
4081 -1021
4082 -01:02:47,489 ~-~-> 01:02:51,089
4083 -alright obviously, London open sell signals obviously end up
4084 -
4085 -1022
4086 -01:02:51,119 ~-~-> 01:02:56,639
4087 -being just the catalyst for a market reversal profile. So if
4088 -
4089 -1023
4090 -01:02:56,639 ~-~-> 01:02:59,489
4091 -you see what looks like a classic sell off, okay, many times
4092 -
4093 -1024
4094 -01:02:59,489 ~-~-> 01:03:02,339
4095 -it will trade down to a higher timeframe, monthly, weekly or
4096 -
4097 -1025
4098 -01:03:02,339 ~-~-> 01:03:04,589
4099 -daily support level that you have to be mindful of okay?
4100 -
4101 -1026
4102 -01:03:04,589 ~-~-> 01:03:07,949
4103 -Because this dip down here that you're trading, intraday may
4104 -
4105 -1027
4106 -01:03:07,949 ~-~-> 01:03:10,979
4107 -be a part of a higher timeframe price leg that's maybe over
4108 -
4109 -1028
4110 -01:03:10,979 ~-~-> 01:03:13,739
4111 -here, okay and then trades down and there's not a higher
4112 -
4113 -1029
4114 -01:03:13,739 ~-~-> 01:03:17,339
4115 -level optimal trade entry by scenario. Okay, so all these
4116 -
4117 -1030
4118 -01:03:17,339 ~-~-> 01:03:19,949
4119 -things have to be considered and it goes along with what
4120 -
4121 -1031
4122 -01:03:19,949 ~-~-> 01:03:24,299
4123 -we've discovered in the insider range webinar this year. And
4124 -
4125 -1032
4126 -01:03:24,299 ~-~-> 01:03:26,459
4127 -you probably heard me say this several times. But you can
4128 -
4129 -1033
4130 -01:03:26,459 ~-~-> 01:03:31,439
4131 -find it on the millionaire traders guild thread on baby
4132 -
4133 -1034
4134 -01:03:31,439 ~-~-> 01:03:36,329
4135 -pips, it's in, in a thread in the beginning of the post, the
4136 -
4137 -1035
4138 -01:03:36,329 ~-~-> 01:03:39,629
4139 -very first post to that thread. You can see the link for
4140 -
4141 -1036
4142 -01:03:39,629 ~-~-> 01:03:42,629
4143 -that, that webinar. Again, it's inside the range. So there's
4144 -
4145 -1037
4146 -01:03:42,629 ~-~-> 01:03:47,489
4147 -concepts of using Fibonacci and where price structure moves
4148 -
4149 -1038
4150 -01:03:47,489 ~-~-> 01:03:50,249
4151 -from one high to low to me from high to low, and working
4152 -
4153 -1039
4154 -01:03:50,249 ~-~-> 01:03:54,449
4155 -within predetermined ranges will allow you to expect or at
4156 -
4157 -1040
4158 -01:03:54,449 ~-~-> 01:03:57,119
4159 -least anticipate these types of events. So while this may be
4160 -
4161 -1041
4162 -01:03:57,119 ~-~-> 01:04:00,929
4163 -a profitable London, open sell scenario Don't be
4164 -
4165 -1042
4166 -01:04:01,710 ~-~-> 01:04:02,520
4167 -blind,
4168 -
4169 -1043
4170 -01:04:03,240 ~-~-> 01:04:06,990
4171 -okay, to this unfolding, it could very easily sneak up on
4172 -
4173 -1044
4174 -01:04:06,990 ~-~-> 01:04:08,070
4175 -you if you're not looking at the higher time
4176 -
4177 -1045
4178 -01:04:08,070 ~-~-> 01:04:08,760
4179 -frame premise.
4180 -
4181 -1046
4182 -01:04:10,949 ~-~-> 01:04:13,889
4183 -So when do you avoid the long open? Okay, well, me
4184 -
4185 -1047
4186 -01:04:13,889 ~-~-> 01:04:19,019
4187 -specifically, I try to limit my on an open trading around a
4188 -
4189 -1048
4190 -01:04:19,019 ~-~-> 01:04:22,259
4191 -few obvious reasons. If interest rate announcements are
4192 -
4193 -1049
4194 -01:04:22,259 ~-~-> 01:04:25,769
4195 -coming in, obviously I'm on on the sidelines waiting. And if
4196 -
4197 -1050
4198 -01:04:25,769 ~-~-> 01:04:29,699
4199 -there's a key speech, keynote speaker, a big deal, come
4200 -
4201 -1051
4202 -01:04:30,149 ~-~-> 01:04:32,789
4203 -comes across the news wires that hey, look, you know, so and
4204 -
4205 -1052
4206 -01:04:32,789 ~-~-> 01:04:35,579
4207 -so is gonna be talking about whatever, you know, economy,
4208 -
4209 -1053
4210 -01:04:36,089 ~-~-> 01:04:39,089
4211 -and it has a direct impact to my specific pair, I won't
4212 -
4213 -1054
4214 -01:04:39,089 ~-~-> 01:04:39,479
4215 -trade.
4216 -
4217 -1055
4218 -01:04:40,170 ~-~-> 01:04:42,210
4219 -If it's a holiday, I won't trade.
4220 -
4221 -1056
4222 -01:04:42,630 ~-~-> 01:04:45,000
4223 -If it's approaching a holiday many times, I'll second guess
4224 -
4225 -1057
4226 -01:04:45,000 ~-~-> 01:04:48,780
4227 -trading. And if there's a global or economic event that
4228 -
4229 -1058
4230 -01:04:48,780 ~-~-> 01:04:51,690
4231 -takes place, it surprises the markets. I won't I won't trade
4232 -
4233 -1059
4234 -01:04:51,690 ~-~-> 01:04:56,850
4235 -that day, not even even New York. And obviously if my weekly
4236 -
4237 -1060
4238 -01:04:56,850 ~-~-> 01:04:59,970
4239 -range objectives are achieved, there's no needs there's no
4240 -
4241 -1061
4242 -01:05:00,000 ~-~-> 01:05:02,430
4243 -For me to go in here and try to chase it out this, hopefully
4244 -
4245 -1062
4246 -01:05:02,430 ~-~-> 01:05:06,690
4247 -have a position that's open. And occasionally, you know if
4248 -
4249 -1063
4250 -01:05:06,690 ~-~-> 01:05:09,390
4251 -the Asian range is greater than 50 pips, you know, I will
4252 -
4253 -1064
4254 -01:05:09,390 ~-~-> 01:05:12,330
4255 -just wait for the New York session to open so anything
4256 -
4257 -1065
4258 -01:05:12,330 ~-~-> 01:05:14,700
4259 -greater than 40 kind of like puts me on the sidelines either
4260 -
4261 -1066
4262 -01:05:14,700 ~-~-> 01:05:18,180
4263 -expecting a real deep optimal trade entry back in the Asian
4264 -
4265 -1067
4266 -01:05:18,180 ~-~-> 01:05:21,480
4267 -range for London open or simply wait for the New York
4268 -
4269 -1068
4270 -01:05:21,480 ~-~-> 01:05:23,310
4271 -session because it's much easier to trade that
4272 -
4273 -1069
4274 -01:05:23,639 ~-~-> 01:05:26,219
4275 -and let the smarter people figure out what London's doing.
4276 -
4277 -1070
4278 -01:05:33,659 ~-~-> 01:05:36,449
4279 -Alright, so let's take a look at an example when average
4280 -
4281 -1071
4282 -01:05:36,449 ~-~-> 01:05:40,229
4283 -daily range doesn't matter and how we can use that concept
4284 -
4285 -1072
4286 -01:05:40,409 ~-~-> 01:05:43,469
4287 -and maybe ferret out greater profit potential.
4288 -
4289 -1073
4290 -01:05:49,349 ~-~-> 01:05:53,849
4291 -Okay, folks, let's let's look at an example at how average
4292 -
4293 -1074
4294 -01:05:53,849 ~-~-> 01:05:59,789
4295 -daily range doesn't always equate to the actual higher loan
4296 -
4297 -1075
4298 -01:05:59,819 ~-~-> 01:06:04,919
4299 -debt. A lot of folks have a lot of preconceived expectations
4300 -
4301 -1076
4302 -01:06:05,039 ~-~-> 01:06:09,239
4303 -on and I think they're a little aggressive and outside the
4304 -
4305 -1077
4306 -01:06:09,239 ~-~-> 01:06:12,689
4307 -spectrum of reality. If it was like this all the time,
4308 -
4309 -1078
4310 -01:06:12,689 ~-~-> 01:06:15,959
4311 -obviously it would be just everybody will be doing it. But
4312 -
4313 -1079
4314 -01:06:16,169 ~-~-> 01:06:19,679
4315 -if we are in sync with the higher time frame premise, okay,
4316 -
4317 -1080
4318 -01:06:19,679 ~-~-> 01:06:23,849
4319 -and we're expecting a bullish move and I'll zoom in and show
4320 -
4321 -1081
4322 -01:06:23,849 ~-~-> 01:06:27,569
4323 -you the intraday version of the swing we're looking at in
4324 -
4325 -1082
4326 -01:06:27,569 ~-~-> 01:06:31,169
4327 -the intraday action and then walking, zoom out and he'll
4328 -
4329 -1083
4330 -01:06:31,169 ~-~-> 01:06:35,969
4331 -show you why this takes place. It just so happened today was
4332 -
4333 -1084
4334 -01:06:35,969 ~-~-> 01:06:39,719
4335 -an example of this very phenomenon taking place. The average
4336 -
4337 -1085
4338 -01:06:39,719 ~-~-> 01:06:42,629
4339 -daily range in here has been fulfilled today. That's what
4340 -
4341 -1086
4342 -01:06:42,629 ~-~-> 01:06:46,199
4343 -the indicator that you see in my videos and in this one as
4344 -
4345 -1087
4346 -01:06:46,199 ~-~-> 01:06:49,769
4347 -well has already turned blue. Okay, so that means the
4348 -
4349 -1088
4350 -01:06:49,769 ~-~-> 01:06:54,029
4351 -average daily range has been activated. The average daily
4352 -
4353 -1089
4354 -01:06:54,029 ~-~-> 01:06:59,969
4355 -range, okay low is overlapping with the Asian range, low key
4356 -
4357 -1090
4358 -01:06:59,999 ~-~-> 01:07:03,059
4359 -So we have the Asian range here. Okay, it's a little less
4360 -
4361 -1091
4362 -01:07:03,059 ~-~-> 01:07:08,159
4363 -than 30 pips. So let's take a look at that. And you'll see
4364 -
4365 -1092
4366 -01:07:08,159 ~-~-> 01:07:15,749
4367 -that we have 28 pips for the Asian range, okay, nice healthy
4368 -
4369 -1093
4370 -01:07:15,749 ~-~-> 01:07:20,519
4371 -little danger range, nothing, you know, extrapolated or too
4372 -
4373 -1094
4374 -01:07:20,519 ~-~-> 01:07:26,279
4375 -large 40 or less is is, in my opinion, a good Asian range.
4376 -
4377 -1095
4378 -01:07:27,629 ~-~-> 01:07:31,979
4379 -We have a optimal trade entry in here. Okay. It's good
4380 -
4381 -1096
4382 -01:07:31,979 ~-~-> 01:07:40,319
4383 -utilized. Take a look at that. Pull it up to the Asian range
4384 -
4385 -1097
4386 -01:07:40,319 ~-~-> 01:07:43,769
4387 -high. And we have perfect symmetry in here comes right down
4388 -
4389 -1098
4390 -01:07:43,769 ~-~-> 01:07:48,299
4391 -to the 797 tracing level. And reax breaks short term little
4392 -
4393 -1099
4394 -01:07:48,299 ~-~-> 01:07:51,929
4395 -swing highs in here. So now if you've missed this one, you
4396 -
4397 -1100
4398 -01:07:51,929 ~-~-> 01:07:56,609
4399 -could utilize the smaller market structure swings in here,
4400 -
4401 -1101
4402 -01:07:57,119 ~-~-> 01:07:59,279
4403 -on intraday again, this is a five minute chart
4404 -
4405 -1102
4406 -01:08:00,809 ~-~-> 01:08:01,859
4407 -And utilizing that
4408 -
4409 -1103
4410 -01:08:03,210 ~-~-> 01:08:06,690
4411 -one could arrive at a buy signal in here around the 160 30
4412 -
4413 -1104
4414 -01:08:06,690 ~-~-> 01:08:09,570
4415 -level. Now, if you're looking to buy that and take first
4416 -
4417 -1105
4418 -01:08:09,570 ~-~-> 01:08:13,860
4419 -profit here based on optimal trade entry rules, and then
4420 -
4421 -1106
4422 -01:08:13,860 ~-~-> 01:08:16,920
4423 -looking to take profits up here on the average daily range,
4424 -
4425 -1107
4426 -01:08:18,720 ~-~-> 01:08:21,420
4427 -you may see it. The average daily range comes in today at
4428 -
4429 -1108
4430 -01:08:21,480 ~-~-> 01:08:25,350
4431 -160 57. So if you're looking just to take profits up here,
4432 -
4433 -1109
4434 -01:08:25,920 ~-~-> 01:08:29,040
4435 -and old highs, there's nothing wrong with that don't
4436 -
4437 -1110
4438 -01:08:29,070 ~-~-> 01:08:31,980
4439 -collapse the entire position because you're trading with the
4440 -
4441 -1111
4442 -01:08:31,980 ~-~-> 01:08:34,350
4443 -higher timeframe direction. Okay, we're going to look at
4444 -
4445 -1112
4446 -01:08:34,350 ~-~-> 01:08:37,080
4447 -that in a moment. But let's just watch what happens as the
4448 -
4449 -1113
4450 -01:08:37,080 ~-~-> 01:08:41,550
4451 -market trades on throughout the day. rallies up gives you an
4452 -
4453 -1114
4454 -01:08:41,550 ~-~-> 01:08:44,160
4455 -opportunity to take profits here at the optimal trade entry
4456 -
4457 -1115
4458 -01:08:44,610 ~-~-> 01:08:51,060
4459 -swing. Price comes up blows out these highs. Okay, so yeah,
4460 -
4461 -1116
4462 -01:08:51,060 ~-~-> 01:08:52,890
4463 -this would have been a very handsome opportunity to take
4464 -
4465 -1117
4466 -01:08:52,890 ~-~-> 01:08:58,590
4467 -profits. Okay, nice little intraday 20 pips, scalp but look
4468 -
4469 -1118
4470 -01:08:58,590 ~-~-> 01:09:07,200
4471 -what happens. Here's your average daily range here. Okay? So
4472 -
4473 -1119
4474 -01:09:07,200 ~-~-> 01:09:09,180
4475 -if you're taking profits with the expectation that this is
4476 -
4477 -1120
4478 -01:09:09,180 ~-~-> 01:09:11,970
4479 -probably gonna be the high the day, you miss out on all
4480 -
4481 -1121
4482 -01:09:11,970 ~-~-> 01:09:15,960
4483 -this, okay? So when you're in when you're in sync with the
4484 -
4485 -1122
4486 -01:09:15,960 ~-~-> 01:09:19,620
4487 -higher time frame premise, okay? Watch what sometimes can
4488 -
4489 -1123
4490 -01:09:19,620 ~-~-> 01:09:23,760
4491 -unfold, you have the range here. And what we're measuring
4492 -
4493 -1124
4494 -01:09:23,760 ~-~-> 01:09:27,480
4495 -here is the average daily range, the average daily range.
4496 -
4497 -1125
4498 -01:09:29,789 ~-~-> 01:09:31,139
4499 -When that breaks,
4500 -
4501 -1126
4502 -01:09:33,180 ~-~-> 01:09:36,120
4503 -you could sometimes see twice the average daily range, you
4504 -
4505 -1127
4506 -01:09:36,120 ~-~-> 01:09:38,670
4507 -can see how we have a little minor reaction here and still
4508 -
4509 -1128
4510 -01:09:38,670 ~-~-> 01:09:42,510
4511 -it continues to move on higher. Okay. So now watch what also
4512 -
4513 -1129
4514 -01:09:42,510 ~-~-> 01:09:46,530
4515 -you can do with Fibonacci. If you have the average daily
4516 -
4517 -1130
4518 -01:09:46,530 ~-~-> 01:09:49,650
4519 -range here and it's broken and you still hold on to a
4520 -
4521 -1131
4522 -01:09:49,650 ~-~-> 01:09:52,890
4523 -position and it starts to tear starts to run even further in
4524 -
4525 -1132
4526 -01:09:52,890 ~-~-> 01:09:57,300
4527 -your anticipated direction. If you use that average daily
4528 -
4529 -1133
4530 -01:09:57,300 ~-~-> 01:10:05,190
4531 -range high, pull your fib down to it. Okay, you have the 200
4532 -
4533 -1134
4534 -01:10:05,190 ~-~-> 01:10:08,040
4535 -extension in here, look how that overlaps very handsomely
4536 -
4537 -1135
4538 -01:10:08,040 ~-~-> 01:10:11,370
4539 -right there. Okay. So that would be a very nice objective to
4540 -
4541 -1136
4542 -01:10:11,370 ~-~-> 01:10:15,300
4543 -take profits at. Okay? Nothing wrong with that. Add to that
4544 -
4545 -1137
4546 -01:10:15,300 ~-~-> 01:10:20,580
4547 -also, if you use your expenses expansion tool
4548 -
4549 -1138
4550 -01:10:26,730 ~-~-> 01:10:29,760
4551 -Okay, just go here and go your expansion, do the same
4552 -
4553 -1139
4554 -01:10:29,790 ~-~-> 01:10:32,310
4555 -similar type thing, but we're going to use the low here and
4556 -
4557 -1140
4558 -01:10:32,310 ~-~-> 01:10:35,160
4559 -it would just reverse it for sell signals. We're going to
4560 -
4561 -1141
4562 -01:10:35,190 ~-~-> 01:10:42,390
4563 -pull the Fibonacci expansion tool up using the average daily
4564 -
4565 -1142
4566 -01:10:42,390 ~-~-> 01:10:47,970
4567 -range range itself. Okay, let's get this off here. It may
4568 -
4569 -1143
4570 -01:10:47,970 ~-~-> 01:10:51,480
4571 -not be bothering you but man is it bother me? The 200
4572 -
4573 -1144
4574 -01:10:51,480 ~-~-> 01:10:55,620
4575 -expansion right here nailing the high the day. Okay, so you
4576 -
4577 -1145
4578 -01:10:55,620 ~-~-> 01:11:01,350
4579 -can see how these concepts they blend there. Rather generic
4580 -
4581 -1146
4582 -01:11:01,350 ~-~-> 01:11:05,730
4583 -and we have used them for years now on baby pips and my
4584 -
4585 -1147
4586 -01:11:05,730 ~-~-> 01:11:10,200
4587 -YouTube channel. These are concepts that are repeatable,
4588 -
4589 -1148
4590 -01:11:10,230 ~-~-> 01:11:13,680
4591 -they go on and on and on and on. But do not be hung up with
4592 -
4593 -1149
4594 -01:11:13,680 ~-~-> 01:11:18,090
4595 -simply expecting the average daily range to new bracket the
4596 -
4597 -1150
4598 -01:11:18,090 ~-~-> 01:11:20,610
4599 -market and Canada. Just because the average daily range
4600 -
4601 -1151
4602 -01:11:20,610 ~-~-> 01:11:24,210
4603 -suggested price may stop here, it may pause like it does
4604 -
4605 -1152
4606 -01:11:24,210 ~-~-> 01:11:26,460
4607 -here. And I'm sure there's a lot of traders in here that
4608 -
4609 -1153
4610 -01:11:26,460 ~-~-> 01:11:29,550
4611 -took this and said, Well, you know, this is probably it.
4612 -
4613 -1154
4614 -01:11:29,640 ~-~-> 01:11:32,100
4615 -We're hitting old resistance and there you go. There you go.
4616 -
4617 -1155
4618 -01:11:32,550 ~-~-> 01:11:35,370
4619 -Now let's take a step back. Okay. And I'm going to do is
4620 -
4621 -1156
4622 -01:11:35,400 ~-~-> 01:11:40,380
4623 -zoom out to a 15 minute chart. Okay, you start seeing rather
4624 -
4625 -1157
4626 -01:11:40,380 ~-~-> 01:11:45,090
4627 -handsome price objectives. Okay, watch what happens here. We
4628 -
4629 -1158
4630 -01:11:45,090 ~-~-> 01:11:49,920
4631 -have this swing down to this swing here. We have the 162
4632 -
4633 -1159
4634 -01:11:49,920 ~-~-> 01:11:53,850
4635 -extension up in this same general area here so we have a lot
4636 -
4637 -1160
4638 -01:11:53,850 ~-~-> 01:11:57,600
4639 -of Confluence to suggest there's possibly something else up
4640 -
4641 -1161
4642 -01:11:57,600 ~-~-> 01:12:01,710
4643 -there in terms of profit taking We look at the larger price
4644 -
4645 -1162
4646 -01:12:01,710 ~-~-> 01:12:09,990
4647 -swing here on this fractal. We have this range here. And
4648 -
4649 -1163
4650 -01:12:09,990 ~-~-> 01:12:15,840
4651 -look what happens we have a 162. Extension, nailing the high
4652 -
4653 -1164
4654 -01:12:15,840 ~-~-> 01:12:18,780
4655 -again, so we have a confluence of a lot of factors, looking
4656 -
4657 -1165
4658 -01:12:18,780 ~-~-> 01:12:23,400
4659 -at 161 15 as a likely upside objective, which is well beyond
4660 -
4661 -1166
4662 -01:12:23,400 ~-~-> 01:12:26,760
4663 -the average daily range high here does expect it to simply
4664 -
4665 -1167
4666 -01:12:26,760 ~-~-> 01:12:31,050
4667 -using one tool by itself isn't enough guys, you gotta have a
4668 -
4669 -1168
4670 -01:12:31,050 ~-~-> 01:12:35,160
4671 -confluence of things suggesting that this may be in fact,
4672 -
4673 -1169
4674 -01:12:36,090 ~-~-> 01:12:40,230
4675 -going higher. You see that happening here? So let's go out
4676 -
4677 -1170
4678 -01:12:40,230 ~-~-> 01:12:43,770
4679 -even further. And look at an hourly chart. You can see how
4680 -
4681 -1171
4682 -01:12:43,770 ~-~-> 01:12:49,620
4683 -we had made a longer term swing low here, moves on higher we
4684 -
4685 -1172
4686 -01:12:49,620 ~-~-> 01:12:52,830
4687 -consolidate it and look what we've formed in here. Okay, do
4688 -
4689 -1173
4690 -01:12:52,830 ~-~-> 01:12:56,850
4691 -you see the ascending triangle here? ascending triangle, we
4692 -
4693 -1174
4694 -01:12:56,850 ~-~-> 01:13:01,170
4695 -have price bouncing up against that 160 50 level. Okay, at
4696 -
4697 -1175
4698 -01:13:01,170 ~-~-> 01:13:05,580
4699 -the same time, okay, at the same time, we expected the
4700 -
4701 -1176
4702 -01:13:05,580 ~-~-> 01:13:09,930
4703 -dollar to break below its support level, okay, because we
4704 -
4705 -1177
4706 -01:13:09,930 ~-~-> 01:13:12,840
4707 -have a descending triangle here. So we have symmetry between
4708 -
4709 -1178
4710 -01:13:12,840 ~-~-> 01:13:17,610
4711 -the two markets. Okay? So we were looking for the 7970 level
4712 -
4713 -1179
4714 -01:13:17,610 ~-~-> 01:13:21,120
4715 -or 7950 level respectively on the dollar. So we're expecting
4716 -
4717 -1180
4718 -01:13:21,150 ~-~-> 01:13:24,390
4719 -weakness on the dollar, it's going to translate into higher
4720 -
4721 -1181
4722 -01:13:24,390 ~-~-> 01:13:28,650
4723 -prices on the cable. And you see that unfold here. Okay, so
4724 -
4725 -1182
4726 -01:13:28,650 ~-~-> 01:13:30,870
4727 -when you're trading in direction of the higher time frame
4728 -
4729 -1183
4730 -01:13:30,870 ~-~-> 01:13:34,050
4731 -premise, don't be lulled into thinking that the average
4732 -
4733 -1184
4734 -01:13:34,050 ~-~-> 01:13:37,410
4735 -daily range is going to block the market from trading any
4736 -
4737 -1185
4738 -01:13:37,410 ~-~-> 01:13:41,670
4739 -further because it will not it Okay, it's just one tool,
4740 -
4741 -1186
4742 -01:13:41,760 ~-~-> 01:13:46,170
4743 -okay? It's one premise to build your trading ideal and now
4744 -
4745 -1187
4746 -01:13:46,200 ~-~-> 01:13:48,120
4747 -there's nothing wrong with taking profits at the average
4748 -
4749 -1188
4750 -01:13:48,120 ~-~-> 01:13:52,050
4751 -daily range. But again, this is the reason why we just scale
4752 -
4753 -1189
4754 -01:13:52,050 ~-~-> 01:13:58,230
4755 -some out because we don't know if it's going to be halting
4756 -
4757 -1190
4758 -01:13:58,470 ~-~-> 01:14:02,280
4759 -at that price level or Not continue on obviously, today's
4760 -
4761 -1191
4762 -01:14:02,280 ~-~-> 01:14:06,270
4763 -being a perfect example of that. So go over your charts and
4764 -
4765 -1192
4766 -01:14:06,270 ~-~-> 01:14:11,580
4767 -look at when the average daily range was broken and was not
4768 -
4769 -1193
4770 -01:14:11,580 ~-~-> 01:14:14,070
4771 -able to hold price back and I think you'll be pleasantly
4772 -
4773 -1194
4774 -01:14:14,070 ~-~-> 01:14:16,830
4775 -surprised. It's always in the sense that you're trading with
4776 -
4777 -1195
4778 -01:14:16,830 ~-~-> 01:14:18,120
4779 -a higher time frame premise.
4780 -
4781 -1196
4782 -01:14:18,540 ~-~-> 01:14:20,610
4783 -I just hope it's been a blessing to you. And
4784 -
4785 -1197
4786 -01:14:20,760 ~-~-> 01:14:23,160
4787 -sincerely absolutely wishing Good luck.