ICT - Trading Plan Development 7.srt

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ICT: Okay guys, we are looking at the intraday trading plan

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module four trading plan development series is Part Seven

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last in the series, right we're looking at pretty much a

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very generic approach to how

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I trade.

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Obviously you could build upon this is simply just an idea

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to use as a foundation for your demo trading. And the

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premise behind this style trading is obviously still within

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the scope of trading in sync with the market structure,

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okay? The duration of these types of trades obviously are

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intraday, and a portion of which after being scaled out

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maybe held overnight, and if you use the previous modules

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also we can use these concepts as well as interdict entering

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into higher timeframe, trades as well.

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The average PIP

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return is anywhere between 20 to 100 pips per trade. And if

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you look at the overall approach, when we look for buy

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signals, we're trying to trade in the observance of a

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bullish market maker profile or fractal. And we're gonna be

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looking for price patterns and confluences around support

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levels. And the optimal trade entry is going to be utilized

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for entry price, and fib extensions for profits. The entry

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and exits are simply based on time and price theory and

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We'll talk more about that as we go through. And much like

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everything I teach. The opposite is said for the sell

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signals, we're going to be trying to trade in observance of

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a bearish market maker profile or fractal. We're going to

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look for price patterns and conferences around resistance

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levels. And we utilizing the optimal trade entry for entry

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price and using fib extensions for profits. And our entry

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and exit are based on time and price theory as well.

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Risking no more than 2%

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maximum per trade. And we're gonna be utilizing risk

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management and control procedures as we discussed in how to

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handle losses trading module, and I'll have links at the end

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of this video. So you guys can utilize those for amplified

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education if it's the first time you've seen

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my work.

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Alright, looking at the overall concepts, okay, the key

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points and content concepts and tools we're going to utilize

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for this module is obviously, hedging upon your

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understanding of price action. Now, do not be intimidated if

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this goes over your head the first time you see it. It's for

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folks that are basically students of the work I've already

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produced and shared for over the last few years on baby pips

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calm in their forums. If you do not have the foundational

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information that's found in my thread on newbie Island,

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titled what every new and or aspiring forex trader still

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wants to know. The first post of that thread has the

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framework for most of what you're seeing in this module. By

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utilizing those tools and spending some time with it and

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studying price action and not indicators, you'll you'll

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build a backbone to flesh out the rest of your price action

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trading. Now, obviously The next stage when we're going to

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be using intraday trading your understanding of the Asian

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range, okay? The Asian range was introduced to me by Chris

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Laurie. He's one of the well respected individuals in the

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Forex industry. He's the only one that really I support in

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terms of teaching. A lot of the things he he goes along with

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in terms of technical analysis and approaches to trading are

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very close to what I do. It's not exactly the same but it's

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close to there. There probably is out there. You even though

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he is a paid educator, he does have free resources and

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information is made available. At the time of this

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recording. You can reach him at Chris laurie.com. He has

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Twitter accounts and all that stuff just like I do.

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The main

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premise to my intraday trading is based on the direction of

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the day, and also trading in the direction of the week.

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Okay, so if I can trade in the higher timeframe direction

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and have the daily bias in that same directional sense, my

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odds of success are greatly amplified. Okay. And as a day

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trader, when I used to trade the futures market, I trade the

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bonds and the s&p 500 back when it was $500 per

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point or full handle,

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I understood the premise of having the first hours range,

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okay, and I use that as like, like the same thing that we're

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gonna be discussing here for the Asian range, okay. And when

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I went into trading forex, okay, I stopped trading from the

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futures markets and moved into trading forex and I had that

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same first hour premise going in and I used the midnight

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timeframe from for me, okay, which is five GMT or New York

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time, midnight

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and I would bracket that

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12 to one o'clock in the morning timeframe. And I would look

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for breaks above no breaks below this particular range. Now,

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obviously, I'm not going to teach that here because now the

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concepts that I use with trading with the Asian range

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obviously, like I said before, I learned from Chris Laurie.

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I didn't know anything about the Asian range in terms of

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forex, until I came across his material, so all the credit

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is associated with me and my Asian range concepts really

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should be attributed to Chris Laurie because that's where I

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got it from. I'm not one to try to take credit for something

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that I didn't either discover or come across on my own. So

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again, because

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of the type of

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trader I am I, I like to give credit where credit's due, and

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the Bible teaches that pattern my life after that as well.

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So looking at how the Asian range and the Asian range is The

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price action that takes place from GMT zero GMT to five GMT.

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So if five hour window that to me is my Asian range. Okay.

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And I use midnight New York time as my new day. Okay, I know

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that may be confusing to somebody because it's been talked

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about various mentors, various teachers resources will talk

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about, you know, Wellington and Australia and all that being

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the new financial day, not for ICT. Okay. I'm an East Coast

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trader on the North American continent. So to me, the new

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day for me is midnight, so I reference everything on

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midnight. Okay my time but I also reference the previous

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price action, okay, that means from zero hundred to five GMT

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that price action still has to be

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utilized in your network. analysis,

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that being the asian session, so the range that it creates

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Now granted, Asia still trades beyond five GMT or midnight

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my time, but I'm only concerned about what it has done up to

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that point. Now Chris Laurie, is he revealed in this webinar

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we did together. Earlier in the year, he uses 530 GMT, which

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would be equivalent to 1230 GMT. It's not so much you have

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to be worried about that. You could use either one really,

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but I stick to midnight time or five GMT

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and the

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the range that price builds between those two windows of

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zero GMT to five GMT. That to me, okay is the accumulation

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stage for daily range. Okay. In other words, market makers

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for PR purposes preparing okay to see The market trades up

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or down based on the orders that come in and start stacking

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up, you have all kinds of orders that are placed that are

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pending. Okay, on an institutional level, not so much retail

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because the retail traders, you don't really have the

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exposure to this type of information. But I promise you,

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there's, there's a lot of orders that are stacking up in

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Asia. Okay. And as we get closer to Frankfurt, and London

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open, the the volatility, the liquidity, the interest, the

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action, all those things start to build up. And you actually

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have the biggest point of, you know, volume for the day

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coming in around 2am or 3am.

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New York time,

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okay, which would be seven to eight GMT on the average.

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Now,

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this range that's assumed

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by studying the high and low dis form between zero hundred

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GMT and five GMT There's going to be initial stops and limit

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orders beyond those specific points, and we're gonna talk

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more about that when we get into it. But based on where we

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go from there, okay is how I arrive at my London open

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trades.

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Okay, now I'll have a built

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in premise before all these trades take place. I'm not just

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looking at chart and saying, Okay, well now it's doing this,

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I'm going to react now,

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I've built a model. And we're going

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to talk about that in here, and how you can utilize these

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concepts to flesh out your own approach to trading this

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specific timeframe

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or time

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session intraday, because I do believe that if you are

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capable of trading this timeframe or this session, speaking

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of which London is what I'm referring to, I think this

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offers the highest in terms of probability for maximum PIP

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hauls for the intraday trading. I think even though it's

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probably scary to most individuals, I think it is the safest

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one if you understand price action because it's very

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forgiving if you understand what you're looking for. And the

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the risk reward is, to me, in my opinion is optimal because

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you're going to have risk in every session you trade in any

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type of trading. Okay, but for me, since I use a standard 30

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PIP stop. That's based on the premise that the average daily

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range across the board on the majors is about 100 pips per

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day. Now, obviously, it'll fluctuate up and down, but

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generally 100 pips is pretty much the safe bet that that's

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the average daily range. So I'm using essentially a third of

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the average daily range for a stop. So if I'm trading with

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the premise that I'm trying to catch the high the day. If

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I'm wrong, I'm going to really know I'm wrong. Okay, so 30

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pips is going to permit me to do that and we'll talk more

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about that as you go. But the London session, what

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specifically do we need to know about this session? What

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sets it apart? From the others, okay, well, typically it'll

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post a daily high or low inside of the first four hours of

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trading. If you just note on your chart, exactly eight GMT

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eight GMT, which is standard on an open timeframe, you'll

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see that that many times makes the higher low. Because it's

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the actual London open, or what is referred to as one open,

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there's no specific exchange that opens up. It's just that's

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when everybody dog piles in and you ever start stacking up

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around that time. So by having this premise built in if you

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have a higher timeframe, directional bias, in other words,

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if you expect the weekly range to be an up candle, okay, in

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other words, if you look on the weekly chart, and the candle

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that you expect to form this week, starting on Sunday

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trading, if you expect to see the candle for the weekly

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range to be an up candle, okay? Or Friday's close to be

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greater than Sunday's opening. Okay, essentially what we're

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talking about here, inside that weekly range, you're

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expecting to capitalize on some kind of a bullish move.

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Okay? So by having that premise going into trading, okay,

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you're going to be looking for the low to form within the

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first four hours of trading during the London open session.

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Okay? So what you're going to be looking at as early as 1am,

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Eastern Standard Time, New York time, okay? or six GMT.

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Generally seven to eight GMT is about when it starts to

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form. But the ideal bracket, Killzone that I like to call is

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seven to nine GMT. Okay, you can learn more about these

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specific times and how to map out your charts and I'm going

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to do it in this session because I've done extensively in

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other modules but if you look at my video, how to trade key

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swing points video, it actually shows you how to map out the

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London open kill zone and the New York open kill zone. So I

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advise you to take a look That. So if you haven't, obviously

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this is a prerequisite for you to continue. So I would

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actually tell you to stop the video here and go check that

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video out and then come back and pick up where we're at

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right now. Okay, so those that did take the instructions

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welcome back and those that didn't Shame on you. London open

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typically sees a stop raid or false breakout. Okay, there's

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always this tendency for London to see this initial rally up

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fake and then drops going into London clothes, okay,

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especially if you're expecting a bearish move for the week

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or expecting a bearish day. You see this happen over and

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over and over again, the Asian range high gets taken out, or

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we break out of the Asian range trade right back into the

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Asian range again, create an optimal trade entry sell off,

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and then goes down into New York and North London closed.

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That's generally the type of style trading that I do in the

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London session. Now, this swing that takes place from London

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going into later part of the day, I dubbed the London

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Express. And it simply means that you know, I look at it

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like a train ride, it takes 48 hours in duration, okay? And

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if you get in if you get in the right direction, it can

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really take you places guys. It has a huge amount of pips

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laid at your feet, if you understand what you're doing, and

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you don't fear holding all day. If you're a scalper and you

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get in here and you do these, you know, 510 15 minute trades

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and you think you've made a lot of money. That may feel

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good, okay, but don't live there. You should develop a

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little bit more in terms of price action, and understanding

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and allow your access if you traded in London. Permit

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yourself to hold something throughout the day. Okay, if you

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do that, you'll have a whole lot more pips laid at your feet

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in versus just going in the market, taking a few pips and

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being happy with that. Additional trade entries can be made

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in the direction of London Express trends and you can do

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that by trading at the New York open now it's not my point

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to teach the New York open. We do have a webinar that was

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recorded trade in New York session. You can find that on my

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YouTube channel. And it's also linked on the pips. Thread

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what every new analyst buying for traders still wants to

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know on the first page of that thread. My first post opening

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title post has an index of all my videos that's on YouTube,

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that is my initial forex trading course. All those videos

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are there that webinars in that list as well. Time

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objectives are utilize for profit taking and those being

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1500 to 1600 GMT, you've seen this many many times in my

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videos, many times call them the actual high or low the day.

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If we do hold on to a portion of it, we'd love to try to

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take some out at 1800 GMT if it continues to move on from

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London higher load that were traded. And if we have

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obviously a small portion to trade on to hold overnight for

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additional profits that meet Su going into the next day's

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trading, obviously, you know, we'll talk about that when we

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get to it. But we take profit objectives based around time

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and price theory. Okay and it means support resistance,

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swings, projections Fibonacci these old highs and lows and

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specific times that mean the New York open again look at the

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trading the key swing points video module on the information

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around the New York open then the 15 to 1600 GMT profit

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taking our that's London close we have to take our largest

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portion of our intraday trading profits there. And then

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obviously if we're holding intraday and starts to run, you

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can get a late New York swing going into 1800 GMT but if

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you're specifically going to be looking to capture only

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intraday action and never hold overnight, take the lion's

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portion of your profits around the 1500 to 1600 GMT

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hour. So inside of that window

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of of one hour, look to take your profits and scale a little

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more portion if you can hold a little bit, okay? Obviously

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tighten your stop loss off and then reach no more than 1800

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GMT if you're just an intraday trader not holding overnight,

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but 80% of the time, you're going to see that 1500 to 1600

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hour post the counter. higher low numbers, if it's been a

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down day, you'll see the low form around 15 to 1600 GMT and

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if it's an update, you'll see the high form for the day

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around 15 to 1600 GMT. Okay, so long open gives you the

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higher low, and then 1500 to 1600 gives you the opposite end

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of the daily range. Okay, so if you take nothing else from

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this, this video module, that right there in itself will

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make you more money in your demo account than you've ever

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probably imagined. Okay, that's how precise these concepts

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work. Now when you start adding all these other components

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to it, it's like Voodoo, okay, it's it's amazing how this

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stuff works out. And you'll be you'll be pleasantly

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surprised once you start applying these concepts. Now when

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trading in the anticipated Weekly trend direction, you want

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to take some profits intraday, but do not show your stop

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loss too aggressively because if you do that, just in New

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York session alone, you've seen many times there's a deep

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retracement going into the swing that ensued in London open

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only to give an additional selling opportunity to go into

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London close. So you're going to need to learn to trust the

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fact that prices going up and down up and down in a natural

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ebb and flow of price action. It still will slide in the

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home around London close if there's not a market reversal

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profile, and we'll talk about that later on. But allowing

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the market room to move and not trail your stop loss so

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aggressively. This will permit your positions to remain open

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and not get stopped out prematurely without seeing your

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maximum

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price objectives fulfilled.

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All right, we've talked about the market maker profile.

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Okay, this is the ICT market maker profile.

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By model

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and my looking at this, okay, we've discussed how there's an

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accumulation phase in here. And then price starts to break

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out comes back up many times and retest, it doesn't have to

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do that. But it can give you another additional trade entry

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shortened here or reflection pattern and sells off goes

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down, makes a low, okay, and then reverses and gives you a

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breakout, maybe a retest or Apple trading sheet here to get

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in sync with that move. Once market structure is broken to

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the upside, and then you have another additional sometimes

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secondary position to get down long. And you're going to

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reach back for these previous consolidation where stops

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would be resting prior to these highs in here. And you see

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that unfolding this premise or understanding of how price

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swings, in other words, it's engineered to go lower to go

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higher. Okay. If you are an intraday trader this same

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premise to price action study repeats itself on an intraday

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scale. Okay, we've looked at higher timeframe models of this

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00:22:03,210 --> 00:22:07,020
price action, okay, or this fractal pattern, but it also

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00:22:07,020 --> 00:22:10,230
repeats itself on intraday price action, okay, and those

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that have been students on my work for last few years on

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00:22:13,110 --> 00:22:16,560
baby pips should recognize this is very similar to my

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00:22:16,560 --> 00:22:20,880
classic buy day for the London open. Now initially I did a

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London open video module, it was very, very brief. It had

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zero audio in it. Because I was really I'll be honest, it's

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I was reluctant in releasing some of this material until

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there was a lot more structure and education behind it all

339
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because I would have never been able to keep up with the

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level of emails and questions. What does this mean? What

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00:22:42,120 --> 00:22:45,420
does that mean? So now I think that I have a lot of my

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00:22:45,420 --> 00:22:48,720
foundational information presented already and available

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widely available on YouTube and baby Phipps. There's many

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resources you can go to to further educate yourself on what

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I'm referring to in this video module. Okay, so I knew doing

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it the first time it probably was going to be not as

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effective as I was hoped it would be. But I think this time

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around those that have seen the first one will agree that

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this is probably a far better approach to teaching the

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London open session with my tools. And obviously looking at

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the ICT cell model for the market maker profile. When we see

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price run up like this, this is a rally, okay? In other

353
00:23:25,800 --> 00:23:29,610
words, they engineer price up and then trades lower. So in

354
00:23:29,610 --> 00:23:32,790
other words, they make it go up to go lower. Okay, so

355
00:23:33,660 --> 00:23:39,180
there's a accumulation Okay, there is a rapid price

356
00:23:39,210 --> 00:23:43,920
increase, okay? And then you see a sell off and it goes back

357
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to the previous consolidation and or below.

358
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So let's take a look at

359
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what this looks like with price structure. Okay, now if

360
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we're going to be an intraday trader, and this charts are

361
00:23:57,930 --> 00:24:00,660
similar to the previous video module, okay. But it will

362
00:24:00,660 --> 00:24:05,550
allow me to teach the same premise because price action is

363
00:24:05,580 --> 00:24:08,220
price action. It doesn't matter if you're looking at a one

364
00:24:08,220 --> 00:24:11,190
minute chart, 15 minute chart daily, weekly, monthly doesn't

365
00:24:11,190 --> 00:24:14,100
matter, the same concepts hold true. There's going to be

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some things that we talked about in this video module is

367
00:24:17,040 --> 00:24:20,700
generically inherent with intraday trading because of the

368
00:24:20,700 --> 00:24:23,940
nature of that type, that type of trading. But by far and

369
00:24:23,940 --> 00:24:26,730
large, most of everything you're seeing here is just a

370
00:24:27,030 --> 00:24:29,700
compilation of all the things in the higher time frame apply

371
00:24:29,700 --> 00:24:34,080
to the smaller time frame. Let's assume we have this price

372
00:24:34,080 --> 00:24:37,530
structure here and this may be a daily chart, or it could be

373
00:24:37,530 --> 00:24:40,560
a four hour chart. Okay? But really, for day trading

374
00:24:40,560 --> 00:24:44,250
purposes, if you focus in on the daily, four hour, one hour,

375
00:24:44,550 --> 00:24:50,940
that's your universe for your foundational premise behind

376
00:24:50,940 --> 00:24:54,600
your directional bias. Okay, everybody sends me emails he

377
00:24:54,600 --> 00:24:57,600
talks about on the forums all the time. This is great.

378
00:24:57,660 --> 00:25:00,420
Michael, I see your videos is absolutely phenomenal. All the

379
00:25:00,420 --> 00:25:04,140
tools work so wonderful unless out of my chart, I've just

380
00:25:04,140 --> 00:25:06,780
been exposed to your work, and it's great. But here's the

381
00:25:06,780 --> 00:25:09,270
problem we're having. I'm looking at the chart on the hard

382
00:25:09,270 --> 00:25:12,330
right edge of my screen. I don't know where it's going to go

383
00:25:12,330 --> 00:25:15,660
from there. So you have to look on the left side of your

384
00:25:15,660 --> 00:25:18,780
chart guys. It sounds counterproductive, okay, because

385
00:25:18,780 --> 00:25:21,840
you're looking at what's already happened. But that tells

386
00:25:21,840 --> 00:25:26,100
you where price is trying to go. Okay? We've seen price

387
00:25:26,190 --> 00:25:30,210
obviously trade lower, okay, and the market structure breaks

388
00:25:30,240 --> 00:25:34,560
in here. Okay, once the price starts to retrace in here and

389
00:25:34,560 --> 00:25:39,870
rallies up, we have now a possible swing low forming, okay,

390
00:25:39,870 --> 00:25:42,540
this is a daily chart, or if you have an intermediate term

391
00:25:42,540 --> 00:25:46,680
low if this is a four hour chart, okay? Or it could be even

392
00:25:46,680 --> 00:25:50,520
a long term low. Okay, doesn't matter. Just understanding

393
00:25:50,760 --> 00:25:53,910
where we are in terms of price action. So if we see this

394
00:25:54,000 --> 00:25:57,990
example, let's say we're looking at a four hour chart, okay,

395
00:25:58,320 --> 00:26:02,010
maybe this is a four hour zoom. In and we've came down on a

396
00:26:02,010 --> 00:26:06,450
daily into a higher level support line. Okay, so this may be

397
00:26:06,450 --> 00:26:10,440
a big figure, okay be a mid figure, it could be a whole list

398
00:26:10,440 --> 00:26:13,770
of things, okay on a monthly high now traded back down to

399
00:26:13,830 --> 00:26:18,000
support but price comes down to it and simply because it

400
00:26:18,000 --> 00:26:20,400
trades to it, there's two ways of doing that if this is a

401
00:26:20,400 --> 00:26:23,670
higher timeframe, resistance and support level, okay, and

402
00:26:23,670 --> 00:26:28,110
we're expecting price to provide support here. We don't

403
00:26:28,260 --> 00:26:32,160
always just assume just buying because it gets to a level

404
00:26:32,160 --> 00:26:34,470
like that you can there's nothing wrong with that takes a

405
00:26:34,470 --> 00:26:38,190
lot of guts. But if you're willing to wait for price to give

406
00:26:38,190 --> 00:26:42,960
you clues, it may have in fact, assumed Long's in here about

407
00:26:42,960 --> 00:26:45,480
the smart money, wait for the market structure to break and

408
00:26:45,480 --> 00:26:49,080
you see that by swing high being broken here. Okay. So if

409
00:26:49,080 --> 00:26:52,710
you see a four hour break in market structure, and then you

410
00:26:52,710 --> 00:26:56,670
see the price retrace back down, you would expect to see it

411
00:26:56,670 --> 00:26:59,490
not go back down below this low. So you would see an optimal

412
00:26:59,490 --> 00:27:02,220
trade entry Here. So now obviously you would expect to see

413
00:27:02,220 --> 00:27:05,940
what to unfold higher prices. Okay? So from this point on

414
00:27:05,970 --> 00:27:08,490
what you're, what you're watching is you're watching market

415
00:27:08,490 --> 00:27:10,950
structure. Okay? You're watching how market structure

416
00:27:10,950 --> 00:27:15,120
unfolds, the swings, all these types of things that we've

417
00:27:15,120 --> 00:27:19,050
looked at in the higher timeframe just simply utilize here

418
00:27:19,050 --> 00:27:26,760
as well for our intraday daily premise, okay? Now by looking

419
00:27:26,760 --> 00:27:29,010
at price like that, okay, what we're going to be doing is

420
00:27:29,010 --> 00:27:31,590
we're going to be expecting anticipating highs and lows to

421
00:27:31,590 --> 00:27:34,440
be forming, okay? When this market structure break here

422
00:27:34,440 --> 00:27:36,840
happens and we have a shift in market structure to

423
00:27:36,840 --> 00:27:42,210
bullishness, okay. Again, assuming this is a nice support

424
00:27:42,210 --> 00:27:47,130
level, price comes down as an optimal trade entry. This low

425
00:27:47,130 --> 00:27:49,710
that forms the optimal trade entry in this little swing

426
00:27:49,710 --> 00:27:54,150
down. There's this could be the new day here. Okay, this

427
00:27:54,150 --> 00:27:56,910
could be the start of a new rate. There could be the new day

428
00:27:57,390 --> 00:28:00,210
and then we had this move lower. Do you understand as My

429
00:28:00,210 --> 00:28:04,440
Judas swing, when it dips down from that, initially, that's

430
00:28:04,440 --> 00:28:07,410
the move that you buy in London open, and you expect the

431
00:28:07,410 --> 00:28:11,190
daily range to fulfill gone to the upside. Okay? Same thing

432
00:28:11,190 --> 00:28:14,010
happens here, if we've seen price drop down lower in here,

433
00:28:14,010 --> 00:28:18,330
this could be a New York open market reversal

434
00:28:19,619 --> 00:28:22,439
and trade lower. And then this could be a new day here or it

435
00:28:22,439 --> 00:28:25,769
could be a new day rain here where we have the Asian range

436
00:28:25,769 --> 00:28:29,729
and then there's a dip down initial drop or Judas rally, I'm

437
00:28:29,729 --> 00:28:32,459
sorry, decline, setting up a buying opportunity and we'll

438
00:28:32,459 --> 00:28:35,159
talk about that as we go. But you want to be looking for

439
00:28:35,159 --> 00:28:39,029
opportunities to get in sync. Okay getting sync with this

440
00:28:39,059 --> 00:28:42,149
market structure that's bullish. Now when we have these very

441
00:28:42,179 --> 00:28:47,189
clean, discernible price legs like this price swings, this

442
00:28:47,189 --> 00:28:50,429
is an impulse move. Okay, when you see price run up like

443
00:28:50,429 --> 00:28:53,249
this, okay? You're going to expecting a retracement at some

444
00:28:53,249 --> 00:28:56,099
point. And when you start to see that unfold, you don't pull

445
00:28:56,099 --> 00:28:59,729
your fib from the low to the high and look for these obvious

446
00:28:59,729 --> 00:29:03,449
levels. of retracements Okay, now you can be a day trader,

447
00:29:03,719 --> 00:29:07,229
okay with market structure corrections, okay and

448
00:29:07,229 --> 00:29:11,129
retracements and be shorter you shorting in here and in here

449
00:29:11,279 --> 00:29:14,279
but never losing sight of where possibly disagree chasing

450
00:29:14,279 --> 00:29:17,369
deeper with this higher time frame for our market structure

451
00:29:17,369 --> 00:29:19,799
or it could be a daily market structure we're looking at

452
00:29:19,799 --> 00:29:24,209
here. So by having the higher time frame daily four hour and

453
00:29:24,209 --> 00:29:27,929
one hour charts up and mapping out price swings and where we

454
00:29:27,929 --> 00:29:32,339
are impossible levels of retracement using your fibs. This

455
00:29:32,339 --> 00:29:36,539
level could be an optimal trade entry by based on this low

456
00:29:36,569 --> 00:29:39,839
to high could be a 62% retracement level. Or if you use this

457
00:29:39,839 --> 00:29:40,439
low here

458
00:29:40,530 --> 00:29:42,750
on market structure to this high,

459
00:29:42,810 --> 00:29:45,240
this could be a 62 or even a sweet spot are you setting I'm

460
00:29:45,240 --> 00:29:47,940
setting tracing a level okay. So when we get to these

461
00:29:47,940 --> 00:29:52,770
levels, it could be starting to trade here in midnight time

462
00:29:52,950 --> 00:29:55,770
in New York and then you had that swing lower in the Judas.

463
00:29:56,220 --> 00:29:59,670
Okay and it comes right down, blows out an old bow comes

464
00:29:59,670 --> 00:30:03,900
down in Maybe even find support like we'd see here. And then

465
00:30:03,900 --> 00:30:06,780
this is your London open buy to get in sync with a higher

466
00:30:06,780 --> 00:30:09,420
time frame premise and you would let your profits run going

467
00:30:09,420 --> 00:30:12,600
towards you know, higher prices going into New York open in

468
00:30:12,600 --> 00:30:15,240
London close and respectively. Maybe if you're going to hold

469
00:30:15,240 --> 00:30:18,540
it overnight, this is why you would do it. Okay, maybe not

470
00:30:18,540 --> 00:30:21,810
so much holding on long and here overnight because you're

471
00:30:22,140 --> 00:30:25,320
expecting a deeper retracement. But all the things we

472
00:30:25,320 --> 00:30:27,240
learned in the high timeframe and market structure in other

473
00:30:27,240 --> 00:30:32,160
videos, all those things culminate with intraday price

474
00:30:32,160 --> 00:30:35,820
action and utilizing these higher timeframe premises in

475
00:30:35,820 --> 00:30:45,300
intraday action. Now, the easiest, most sweetest setups come

476
00:30:45,330 --> 00:30:48,300
when you trade between intermediate term and higher

477
00:30:48,300 --> 00:30:52,980
timeframe, long term price swings, and those being the blue

478
00:30:52,980 --> 00:30:57,060
circles here. Okay, and we've talked about this in the

479
00:30:57,060 --> 00:30:59,700
previous video module, so I'm not going to go over what

480
00:30:59,700 --> 00:31:05,130
these are Do some study guys go and research this okay, but

481
00:31:05,130 --> 00:31:09,330
the enemy term lows in here if we trade off of the term low

482
00:31:09,930 --> 00:31:14,250
and get long only trading one and open Long's expecting you

483
00:31:14,250 --> 00:31:19,770
to swings lower okay? trading becomes absolutely easy you

484
00:31:19,770 --> 00:31:23,040
know what you're looking for, you know your overall premise

485
00:31:23,070 --> 00:31:26,310
is to be expecting bullish prices. Okay so now what do we

486
00:31:26,310 --> 00:31:31,740
do? We apply the concepts that we learned in how to capture

487
00:31:31,740 --> 00:31:35,160
explosive price moves in the Forex market video module where

488
00:31:35,160 --> 00:31:40,920
I teach that between Sunday's opening and Tuesday's London

489
00:31:40,920 --> 00:31:44,190
open there's a high probability of the weekly higher low to

490
00:31:44,190 --> 00:31:48,060
form by Tuesdays on an open okay if it doesn't form by

491
00:31:48,480 --> 00:31:51,060
Tuesdays London open generally between Tuesday and

492
00:31:51,060 --> 00:31:55,410
Wednesdays London open the weekly range high or low will

493
00:31:55,410 --> 00:31:58,290
establish itself. Okay, so now think about this. Let's

494
00:31:58,290 --> 00:32:00,780
assume for a moment we've mapped out This is a higher time

495
00:32:00,780 --> 00:32:03,570
frame support level, we had market structure shift here,

496
00:32:03,780 --> 00:32:05,820
price comes down the optimal trade entry, we're in a bullish

497
00:32:05,820 --> 00:32:09,240
leg. Okay? Every time price comes down, we're still

498
00:32:09,240 --> 00:32:13,680
expecting price to provide us a buying opportunity. Okay?

499
00:32:14,130 --> 00:32:17,820
Now, what are we looking for going up? Well, obviously we

500
00:32:17,820 --> 00:32:20,670
had this price like here from this high down to this low to

501
00:32:20,670 --> 00:32:22,980
contentment, this is the range that we're trading within.

502
00:32:23,310 --> 00:32:25,680
Okay, so you have to have your fibs pulled up. And this is

503
00:32:25,680 --> 00:32:28,470
going to be your 79 or 62, or even sweetspot, based on the

504
00:32:28,470 --> 00:32:33,240
swing from here to here. But also notice there's a smaller

505
00:32:33,780 --> 00:32:39,780
wave in price action from here to here. So you have your

506
00:32:39,780 --> 00:32:42,780
range from this high, down to this low. So when price gets

507
00:32:42,780 --> 00:32:46,350
up to around that 62 to 79% tracing level on here, that may

508
00:32:46,350 --> 00:32:51,030
be a reason to be more cautious taking London open buy

509
00:32:51,030 --> 00:32:55,980
signals, okay. So, using the inside the range concepts we

510
00:32:55,980 --> 00:32:58,950
learned earlier in the year in the webinar, okay, the same

511
00:32:58,950 --> 00:33:01,500
premise holds true here. You still have to look at your

512
00:33:01,500 --> 00:33:04,800
previous price swings and how they map out. You can build

513
00:33:04,800 --> 00:33:07,650
your premise based on that just simply just doing this alone

514
00:33:08,070 --> 00:33:11,430
will give you high odds probabilities to base your trading

515
00:33:11,430 --> 00:33:13,740
on. So now think about what we've done we've established a

516
00:33:13,740 --> 00:33:18,120
premise that expect bullish prices based on the market shift

517
00:33:18,210 --> 00:33:21,780
and structure here. So when this move went above this

518
00:33:21,780 --> 00:33:24,330
previous swing high here and start to retrace is an awful

519
00:33:24,330 --> 00:33:26,610
trade entry and starts to trade higher, we have confirmation

520
00:33:26,610 --> 00:33:29,400
that we are in a bullish leg, okay, now market structure is

521
00:33:29,400 --> 00:33:32,700
bullish. Okay. At this point here, market flow on all

522
00:33:32,700 --> 00:33:36,600
timeframes probably will be, you know, going up going up. So

523
00:33:36,600 --> 00:33:39,360
it makes trading easy now, you just simply wait for the

524
00:33:39,360 --> 00:33:42,510
setups to unfold in London open and if you're in New York

525
00:33:42,510 --> 00:33:44,610
open trader, I'll toss this and just wait for your buy

526
00:33:44,610 --> 00:33:48,570
signals in here as well. Okay. But looking at how price

527
00:33:48,570 --> 00:33:52,770
trades at the London open, we would expect to see price drop

528
00:33:52,770 --> 00:33:58,200
down, okay, out of the Asian range, or if it breaks out

529
00:33:58,200 --> 00:34:01,080
initially if it trades back down into the range look to

530
00:34:01,080 --> 00:34:03,270
trade optimal trade entries wallets inside the Asian range.

531
00:34:03,270 --> 00:34:06,210
And we'll look more about that and when we have the actual

532
00:34:06,330 --> 00:34:07,410
diagrams and such.

533
00:34:08,490 --> 00:34:09,030
But

534
00:34:10,110 --> 00:34:12,960
if we are trading with that premise, it's bullish,

535
00:34:13,860 --> 00:34:14,910
and it's Sunday.

536
00:34:15,689 --> 00:34:20,039
What's your homework, hopefully, leading up to that we're

537
00:34:20,039 --> 00:34:22,769
probably going to see the low the weak form by Tuesday.

538
00:34:23,429 --> 00:34:27,749
Okay, so if you're really capable of trading the London

539
00:34:27,749 --> 00:34:32,279
open, and you can sit down and be a part of Monday's London

540
00:34:32,279 --> 00:34:35,729
open or Tuesday's long and open if you have that capability

541
00:34:35,729 --> 00:34:40,709
to do that timewise and it fits your lifestyle. Many times

542
00:34:40,709 --> 00:34:43,169
you can actually end up buying the low of the week. And I

543
00:34:43,169 --> 00:34:47,729
can tell you, that's absolutely mind blowing when you look

544
00:34:47,729 --> 00:34:50,939
at how many times it can be done. And even if you get a

545
00:34:50,939 --> 00:34:53,909
small portion of the weekly range, okay, if the average

546
00:34:53,909 --> 00:34:59,189
daily range is 100 pips, the weekly average range could be

547
00:34:59,189 --> 00:35:01,979
several hundred pips. So if you get, you know, small portion

548
00:35:01,979 --> 00:35:06,149
of that, you can look at anywhere between 150 to 300 pips,

549
00:35:06,179 --> 00:35:10,769
you know, as a potential pitfall. So, even though we're

550
00:35:11,819 --> 00:35:14,939
specifically talking about day trading here, I want you to

551
00:35:14,939 --> 00:35:17,639
use these concepts to kind of broaden your perspective and

552
00:35:17,639 --> 00:35:20,219
say, Hey, I can use these concepts really to get in sync

553
00:35:20,219 --> 00:35:24,599
with these higher timeframe trades, and not, you know, exit

554
00:35:24,599 --> 00:35:27,929
the trades too prematurely and allow my new trades to pay me

555
00:35:27,929 --> 00:35:28,259
more.

556
00:35:34,110 --> 00:35:37,950
Alright, so now thinking with this premise in mind, if we're

557
00:35:37,950 --> 00:35:44,310
bullish, okay, this could be a one hour chart. Okay. We're

558
00:35:44,310 --> 00:35:48,330
looking at a possible bullish move going higher. We've seen

559
00:35:48,330 --> 00:35:53,010
price trading lower. Okay. Now, if the previous chart shows

560
00:35:53,130 --> 00:35:56,340
that market structure shift bullishness, if we zoom down to

561
00:35:56,340 --> 00:35:58,500
a one hour chart, we can actually start seeing smaller swing

562
00:35:58,500 --> 00:36:01,530
highs. Okay, that would be You know, assume that we have

563
00:36:01,530 --> 00:36:03,900
this higher time frame support level. If that market

564
00:36:03,900 --> 00:36:06,510
structure breaks here on the hourly basis on a smaller short

565
00:36:06,510 --> 00:36:13,320
term, we can start seeing more time sensitive price swings,

566
00:36:13,350 --> 00:36:18,030
okay? And prices still gonna swing, you know, based on price

567
00:36:18,030 --> 00:36:20,310
action, okay? You're not going to, you know, change where

568
00:36:20,310 --> 00:36:20,940
it's going to go.

569
00:36:21,330 --> 00:36:22,590
But your perspective on

570
00:36:22,680 --> 00:36:26,670
looking at it, okay? can be really skewed based on the

571
00:36:26,670 --> 00:36:29,100
timeframe you're looking at. So if we're looking at just

572
00:36:29,100 --> 00:36:34,020
simply this high to this low, this could have been long you

573
00:36:34,020 --> 00:36:37,140
into believing this could be a sell off, okay? Our optimal

574
00:36:37,140 --> 00:36:40,950
trade entry sell, but having that higher time frame premise

575
00:36:40,950 --> 00:36:43,920
in mind, and this is being a higher level key support level,

576
00:36:44,100 --> 00:36:46,920
okay, that we talked about earlier. The premise is that

577
00:36:46,920 --> 00:36:50,340
we're expecting market structure to shift the bullishness,

578
00:36:50,550 --> 00:36:53,250
okay, so every time we see a retracement, all that's going

579
00:36:53,250 --> 00:36:56,190
to do is likely set up a new buying opportunity. So every

580
00:36:56,190 --> 00:36:59,340
time price creates a new range, we just run our fit from

581
00:36:59,340 --> 00:37:01,650
that and look for the To send nice Chase Mobile optimal

582
00:37:01,650 --> 00:37:05,160
trade entries, okay? Obviously you would be looking for

583
00:37:05,580 --> 00:37:08,850
reflections as well, this could be a very reflection is this

584
00:37:08,940 --> 00:37:13,410
low in here down to this low here could present an optimal

585
00:37:13,410 --> 00:37:16,830
trade entry. Yes here, but it could also be reflection as

586
00:37:16,830 --> 00:37:19,500
well. So don't just think in terms of you always have to

587
00:37:19,500 --> 00:37:22,080
have the optimal trade entry. It's the easiest one I teach,

588
00:37:22,110 --> 00:37:27,870
but other patterns like you could have ICT Grail in here,

589
00:37:28,260 --> 00:37:31,260
tied to trend following. It could be a stinger in here,

590
00:37:31,770 --> 00:37:35,850
okay, all these types of patterns. Now, you know, if you

591
00:37:35,850 --> 00:37:37,590
have this higher time frame premise and when you start

592
00:37:37,590 --> 00:37:40,230
looking for these patterns to unfold with that directional

593
00:37:40,230 --> 00:37:45,660
premise, okay, so having that unfold on an hourly basis, and

594
00:37:45,660 --> 00:37:48,720
having your dynamic support resistance levels carried from

595
00:37:48,720 --> 00:37:51,570
the higher time frame down to these shorter time frames, you

596
00:37:51,570 --> 00:37:57,060
can expect more clear support clears price swings based on

597
00:37:57,060 --> 00:38:02,910
the hourly chart your week. management of price swings intra

598
00:38:02,910 --> 00:38:06,480
week should be focused on the one hour timeframe. So once

599
00:38:06,480 --> 00:38:10,170
you arrive based on the daily and four hour charts, you can

600
00:38:10,170 --> 00:38:12,480
really work the rest of the week off of an hourly chart,

601
00:38:12,690 --> 00:38:15,180
just using support resistance off that and measuring swings

602
00:38:15,240 --> 00:38:18,270
using your fibs. But when you enter the trades, when you

603
00:38:18,270 --> 00:38:20,310
take action, and you're actually part of the trades, you

604
00:38:20,310 --> 00:38:23,550
manage those trades on a 15 minute timeframe. Okay, so have

605
00:38:23,550 --> 00:38:27,060
that in your notes. I know you're probably saying Why didn't

606
00:38:27,060 --> 00:38:29,160
you give me a screen shot with all this stuff written down,

607
00:38:29,160 --> 00:38:32,010
it's so much easier just to cut and paste now. Keep yourself

608
00:38:32,010 --> 00:38:35,310
a log, keep yourself a journal, make, make your own notes,

609
00:38:35,340 --> 00:38:38,430
okay, if you write it down, you have a more higher chance of

610
00:38:38,430 --> 00:38:41,670
remembering it versus me just talking about it. Okay. So

611
00:38:41,670 --> 00:38:44,730
again, you're looking at the daily and four hour looking for

612
00:38:44,730 --> 00:38:46,890
market structure to break into higher timeframe directional

613
00:38:46,890 --> 00:38:51,390
premise, where's price trying to reach Okay. Then once you

614
00:38:51,390 --> 00:38:55,500
have a market structure break, okay, it makes the trading

615
00:38:55,500 --> 00:38:58,230
very easy for you in terms of directional premise because

616
00:38:58,230 --> 00:39:00,600
that's the direction you're gonna want to trade in. Based on

617
00:39:00,600 --> 00:39:03,570
the daily and indoor four hour, the four hour is going to be

618
00:39:03,570 --> 00:39:07,680
much more sensitive. So if you have a little bit firmer

619
00:39:07,680 --> 00:39:09,840
understanding of price action, you could probably just live

620
00:39:09,840 --> 00:39:13,710
on the four hour. But also make sure that you don't forget,

621
00:39:13,710 --> 00:39:16,470
there's probably daily support resistance and weekly support

622
00:39:16,470 --> 00:39:19,860
resistance and monthly even support and resistance that may

623
00:39:19,860 --> 00:39:22,380
be a factor that you still have to contend with. So we're

624
00:39:22,380 --> 00:39:28,350
not negating to you the benefit of having a hard time frame

625
00:39:28,350 --> 00:39:31,650
top down analysis. But if you're just starting off and you

626
00:39:31,650 --> 00:39:34,200
just want to get in here and start chasing action, this is,

627
00:39:34,230 --> 00:39:37,380
you know, obviously I can do it a deal in four hour. But

628
00:39:37,380 --> 00:39:40,020
once you have your directional premise based on those are

629
00:39:40,020 --> 00:39:43,890
timeframes you live on the daily chart, I'm sorry that the

630
00:39:43,890 --> 00:39:47,940
60 minute chart for your intra week swings is watching the

631
00:39:47,940 --> 00:39:51,240
one hour chart and then watch how price swings within that

632
00:39:51,270 --> 00:39:55,200
timeframe. But if you enter the trades, you manage them on a

633
00:39:55,200 --> 00:39:57,750
15 minute timeframe. Okay, you managed to trade on a 15

634
00:39:57,750 --> 00:40:01,440
minute chart and that's because If you are at some point

635
00:40:01,440 --> 00:40:03,600
going to move your stop loss and trail it you want to be

636
00:40:03,600 --> 00:40:09,090
using the previous two swing lows prior to where price price

637
00:40:09,090 --> 00:40:12,420
is trading at now for instance say we're here and we saw a

638
00:40:12,420 --> 00:40:15,660
price run up and blow out these highs are long. Here's a

639
00:40:15,660 --> 00:40:18,960
swing low and here's a swing low and assuming as a 15 minute

640
00:40:18,960 --> 00:40:22,110
chart no no no I mean probably be confusing you talking

641
00:40:22,110 --> 00:40:25,050
about different timeframes but just go back over the video

642
00:40:25,230 --> 00:40:29,430
just rewind it okay but this this low and this low here is

643
00:40:29,430 --> 00:40:32,910
to swing lows prior to current price action so assuming

644
00:40:33,150 --> 00:40:36,270
price is trading here breaking out above these highs here

645
00:40:36,270 --> 00:40:40,020
more long something back here or even here. This swing low

646
00:40:40,020 --> 00:40:43,860
and this swing low are the last two swing lows it most

647
00:40:43,860 --> 00:40:47,550
recently formed. My trailing stop loss will be to 10 pips

648
00:40:47,550 --> 00:40:50,130
below this low here. Okay, so in other words, I'm managing

649
00:40:50,130 --> 00:40:55,920
my long with a stop 10 pips below the second most recent

650
00:40:55,920 --> 00:40:59,850
swing low, okay, and obviously just reversing it soon

651
00:40:59,850 --> 00:41:04,080
enough. We got short back in here, okay, and prices now

652
00:41:04,110 --> 00:41:07,800
breaking down here below this low, this is one swing

653
00:41:08,010 --> 00:41:08,520
low

654
00:41:09,539 --> 00:41:12,359
and this swing low here now the the caveat is is you got to

655
00:41:12,359 --> 00:41:15,749
have a higher swing low than the first one. So this one

656
00:41:15,749 --> 00:41:20,669
would not be considered this swing high in this swing high.

657
00:41:20,849 --> 00:41:23,669
This is your second one back it's worse as prices moving in

658
00:41:23,669 --> 00:41:26,429
your favor on a 15 minute timeframe, I would look for the

659
00:41:26,429 --> 00:41:30,119
most recent swing high on a 15 minute basis if I'm short and

660
00:41:30,119 --> 00:41:32,999
then go back and find the higher swing high than that on a

661
00:41:32,999 --> 00:41:36,749
15 minute basis and I would trail my stop loss 15 pips, I'm

662
00:41:36,749 --> 00:41:39,629
sorry 10 pips above that, okay, so my stop would be above

663
00:41:39,629 --> 00:41:42,779
here and I would continue to do that as price trades lower.

664
00:41:42,869 --> 00:41:45,659
Okay, so in this case, once we break this low here, trading

665
00:41:45,659 --> 00:41:50,009
right into that support, this would be the swing high and

666
00:41:50,009 --> 00:41:51,899
then the previous swing high. So this is the most recent

667
00:41:51,899 --> 00:41:54,959
swing high at this point here. So it'd be 10 pips above

668
00:41:54,959 --> 00:41:57,599
this. You can see even though this is a crude diagram and

669
00:41:57,599 --> 00:42:00,629
drawing, check out price action on you Some of the moves

670
00:42:00,629 --> 00:42:03,269
that's recently happened and use a 15 minute timeframe and

671
00:42:03,269 --> 00:42:06,389
you'll see that many times it keeps you in the trade. So

672
00:42:07,229 --> 00:42:09,749
that's how we break our charts down. That's the timeframe.

673
00:42:10,139 --> 00:42:13,259
Use usage and utilization, how we look from the higher time

674
00:42:13,259 --> 00:42:15,659
frame down to the lower timeframe and we would look for the

675
00:42:15,809 --> 00:42:18,689
one hour chart to create its own support resistance as well.

676
00:42:19,139 --> 00:42:22,529
Okay, and then obviously looking for upside objectives based

677
00:42:22,529 --> 00:42:27,839
on swings on the one hour chart and 15 minute chart. Okay,

678
00:42:27,869 --> 00:42:30,269
so when your fibs on these swings here for getting

679
00:42:30,269 --> 00:42:32,309
extensions and fit expansions

680
00:42:33,630 --> 00:42:34,560
will serve you well.

681
00:42:41,430 --> 00:42:46,980
Okay, we are looking at what you see typically unfold in

682
00:42:47,220 --> 00:42:52,890
London open. Alright, we're looking at a price move here.

683
00:42:53,280 --> 00:42:59,010
Okay, we have an Asian range and we'll see typically a

684
00:42:59,010 --> 00:43:02,280
initial pop up out of the Asian range as a fake out this is

685
00:43:02,280 --> 00:43:06,870
when they tag the pending orders for those that may be

686
00:43:06,870 --> 00:43:10,560
short. They'll take those individuals out and those that

687
00:43:10,560 --> 00:43:13,200
want to be long on a breakout system, okay, they'll run the

688
00:43:13,200 --> 00:43:15,510
market up here and trip those individuals into the market

689
00:43:16,020 --> 00:43:18,750
because that will create a pocket of liquidity. Okay,

690
00:43:18,750 --> 00:43:21,180
dealers will take it up there, they'll fill it, okay, and

691
00:43:21,180 --> 00:43:24,060
then they'll trade it lower. Okay, this is the engineered

692
00:43:24,480 --> 00:43:28,650
price decline. Okay, now think what was going on over here?

693
00:43:28,830 --> 00:43:31,740
price has been rallying. Okay, if we're in a bullish market

694
00:43:31,740 --> 00:43:34,980
structure, okay. Don't think just simply because we're

695
00:43:34,980 --> 00:43:38,160
falling out of bed in London opens early session, and that's

696
00:43:38,160 --> 00:43:41,490
not going to always equate to it's going you know, straight

697
00:43:41,490 --> 00:43:45,720
to Hades in think about price action when it's going lower.

698
00:43:46,350 --> 00:43:49,470
Okay, it's going to go lower to make a low and then trade

699
00:43:49,470 --> 00:43:52,410
higher. Okay. So this is the price engineering that takes

700
00:43:52,410 --> 00:43:52,920
place.

701
00:43:54,300 --> 00:43:55,020
Over here,

702
00:43:55,710 --> 00:43:58,890
this low back here, maybe a previous day's low, it could be

703
00:43:58,890 --> 00:44:04,590
a previous week's low It could be a higher time frame

704
00:44:04,590 --> 00:44:07,800
support resistance level, it could be a trinity level, it

705
00:44:07,800 --> 00:44:13,410
could be pivots, it could be a whole list of things that

706
00:44:14,340 --> 00:44:17,940
caused the price as in price action to rally up from that

707
00:44:17,940 --> 00:44:22,590
point. But you would run your fib from this point here to

708
00:44:22,590 --> 00:44:26,400
the highest high, either inside of this day, or whatever

709
00:44:26,400 --> 00:44:29,250
high it's formed here. And you would pull that fib here and

710
00:44:29,250 --> 00:44:32,100
then you would look for optimal trade entry to pull back

711
00:44:32,100 --> 00:44:37,710
into as the Judas swing breaks down. That's how you time

712
00:44:37,710 --> 00:44:41,670
your London open buys. assuming you're having a bullish

713
00:44:41,670 --> 00:44:44,790
market structure and everything expected to go higher. This

714
00:44:44,790 --> 00:44:48,960
level here needs to have something associated with it. Okay,

715
00:44:49,470 --> 00:44:52,590
words when you see the fib from the low to here. In other

716
00:44:52,590 --> 00:44:54,660
words, this price swing up here, we're trading inside the

717
00:44:54,660 --> 00:44:58,890
range. Okay, so as price starts to retrace, we're trading

718
00:44:58,890 --> 00:45:03,030
within discernable range. low to high or higher highs over

719
00:45:03,030 --> 00:45:06,750
here in this example the previous highs, this is a little

720
00:45:06,750 --> 00:45:10,710
bit slightly lower and then starts to trade down. This is

721
00:45:10,710 --> 00:45:14,340
the Judas swing. Okay now its price is trading lower. Okay

722
00:45:14,340 --> 00:45:17,670
now when you see that happening in London open and you're

723
00:45:17,670 --> 00:45:21,900
part of like chat rooms or forums, you'll see a those that

724
00:45:21,900 --> 00:45:25,590
are brave they'll come out and say that I'm short in

725
00:45:25,590 --> 00:45:29,010
assuming this is the cable, British Pound USD pair they'll

726
00:45:29,190 --> 00:45:32,550
come on board and say I'm short now and you know I'm selling

727
00:45:32,850 --> 00:45:37,380
and I'm 10 pips profit 10 1215 pips profit, it's going

728
00:45:37,380 --> 00:45:42,630
straight down. Yeah, well, right around two to three o'clock

729
00:45:42,630 --> 00:45:46,470
in the morning New York time. what'll happen is is the

730
00:45:46,470 --> 00:45:49,680
market participants that know what's going on. They

731
00:45:49,680 --> 00:45:52,080
understand key support resistance levels, they understand

732
00:45:52,140 --> 00:45:59,580
price structure, okay. There is a huge interest in buying

733
00:45:59,610 --> 00:46:03,360
this The sensitive high level key support resistance level.

734
00:46:03,660 --> 00:46:06,090
Okay? So when they take it down here, there's going to be a

735
00:46:06,090 --> 00:46:10,710
large entity that we call smart money that's going to come

736
00:46:10,710 --> 00:46:15,030
in here and accumulate all kinds of long positions here. So

737
00:46:15,030 --> 00:46:18,870
we're waiting for this to unfold when price does this, okay?

738
00:46:19,110 --> 00:46:22,800
We buy right here. Okay, this is the optimal trade entry in

739
00:46:22,800 --> 00:46:26,820
London open. Now you can look at a one hour chart and see

740
00:46:26,820 --> 00:46:30,270
this, okay, but predominantly, it's a 15 and five minute

741
00:46:30,270 --> 00:46:33,210
chart that you'll see this type of action. When it comes

742
00:46:33,210 --> 00:46:36,450
down to it and you see a five minute optimal trade entry at

743
00:46:36,450 --> 00:46:41,700
that level here. This is where you buy, okay? Now, also,

744
00:46:42,570 --> 00:46:44,250
when price is trading down here, you want to look at

745
00:46:44,250 --> 00:46:48,870
correlated pair SMT. You want to look at USD x SMT

746
00:46:48,990 --> 00:46:54,900
divergence gives some kind of framework to establish some

747
00:46:54,930 --> 00:46:58,020
confidence behind this level, simply because we have a range

748
00:46:58,020 --> 00:47:00,000
here and it trades back down to that level and it's very

749
00:47:00,000 --> 00:47:02,520
bullish, it could still go down a little bit lower than that

750
00:47:02,520 --> 00:47:04,470
and still, you know, ultimately trade up or even continue

751
00:47:04,470 --> 00:47:06,360
going lower. That's how you stop loss orders because we

752
00:47:06,360 --> 00:47:09,420
don't know for certain our analysis is going to be fruitful.

753
00:47:10,350 --> 00:47:12,450
But this is how we would be buying the market in London

754
00:47:12,450 --> 00:47:15,780
open. And obviously as price starts to move up, we will be

755
00:47:15,780 --> 00:47:19,560
looking for the highest it's been established in the early

756
00:47:19,680 --> 00:47:23,880
London open session to be trailed, I'm sorry, tripped and

757
00:47:23,880 --> 00:47:27,330
taken out as upside objectives. Okay. That's again, that's

758
00:47:27,330 --> 00:47:30,210
assuming that we have a bullish market structure and higher

759
00:47:30,210 --> 00:47:31,290
prices are likely.

760
00:47:35,219 --> 00:47:37,649
Alright, so let's look at that a little bit more closely.

761
00:47:37,949 --> 00:47:41,429
Okay, we have an Asian range here that unfolds. And we're

762
00:47:41,429 --> 00:47:44,549
assuming that we are in a bullish market structure. Okay,

763
00:47:44,549 --> 00:47:47,189
we're expecting higher prices, we're expecting the market to

764
00:47:47,189 --> 00:47:50,069
go lower to go higher. Okay. So we're just going to trade

765
00:47:50,069 --> 00:47:52,739
down to a higher level support level. Now this level down

766
00:47:52,739 --> 00:47:56,069
here may be again, could be a previous day's low. It could

767
00:47:56,069 --> 00:48:00,689
be a previous day's high. It could be a previous day's New

768
00:48:00,689 --> 00:48:03,869
York session level, okay, because New York was the most

769
00:48:03,869 --> 00:48:08,759
recent one outside of the asian session, it could be a

770
00:48:08,759 --> 00:48:13,169
previous month high, okay, or weekly, higher low, something

771
00:48:13,229 --> 00:48:15,869
along on a higher time frame premise, okay, there's going to

772
00:48:15,869 --> 00:48:20,039
be something that contributes to the fact that this is a low

773
00:48:20,039 --> 00:48:25,799
forming. But before the Asian range is broken many times

774
00:48:25,799 --> 00:48:28,589
again, we'll see that rally up. It's a turtle soup. So,

775
00:48:28,979 --> 00:48:32,009
again, if you're a scalper, you could see this as an

776
00:48:32,009 --> 00:48:35,009
opportunity to scalp and go lower. I don't trade like that.

777
00:48:35,219 --> 00:48:39,059
Okay. Once the Asian range lows taken out, many times you'll

778
00:48:39,059 --> 00:48:42,779
see it retrace and test that level again. And this could be

779
00:48:42,779 --> 00:48:46,589
your short, okay, if you again are a scalper with the

780
00:48:46,589 --> 00:48:49,979
expectation to take profits down here at the higher time

781
00:48:49,979 --> 00:48:53,669
frame support level, okay, but I am not that type of trader.

782
00:48:54,779 --> 00:48:57,629
This is the setup that I hunt. Okay, if I'm in a bullish

783
00:48:57,629 --> 00:49:00,389
market structure, I'm expecting higher prices. And I

784
00:49:00,389 --> 00:49:02,759
understand that looking at that previous slide we had, this

785
00:49:02,759 --> 00:49:07,229
decline was taking me inside the previous range, okay, or at

786
00:49:07,229 --> 00:49:10,619
price swing that we just discussed. When we get down and

787
00:49:10,619 --> 00:49:12,179
create an optimal trade entry in here, that's where I'm

788
00:49:12,179 --> 00:49:16,229
buying Okay, cuz we have a higher low here in this example,

789
00:49:16,679 --> 00:49:20,459
this this is the cable on the fiber this may have created a

790
00:49:20,459 --> 00:49:21,329
lower low here,

791
00:49:22,259 --> 00:49:24,329
low in fiber,

792
00:49:24,719 --> 00:49:27,989
okay, so you may not see the SMT divergence there, but you

793
00:49:27,989 --> 00:49:31,859
may end up seeing a higher high in the dollar. So you would

794
00:49:31,859 --> 00:49:35,489
end up with a USD x SMT divergence here to support the long

795
00:49:36,029 --> 00:49:39,719
on the cable. Obviously, when you see the market structure

796
00:49:39,719 --> 00:49:44,669
shift on the intraday basis, if you miss the optimal trade

797
00:49:44,669 --> 00:49:47,489
entry here, you could look for another opportunity to get

798
00:49:47,699 --> 00:49:52,289
get long and before it starts to go off on a tear. And then

799
00:49:52,319 --> 00:49:54,869
obviously we'd be looking for average daily range to

800
00:49:54,869 --> 00:49:58,529
fulfill. I do not consider average daily range now average

801
00:49:58,529 --> 00:50:03,419
daily range is A tool that you can get off of most

802
00:50:03,419 --> 00:50:05,999
platforms, you just pull up the indicator in this look at

803
00:50:05,999 --> 00:50:08,339
what the average daily ranges for the last five days what I

804
00:50:08,339 --> 00:50:12,599
use, predominantly, I'm not going to go into other ranges of

805
00:50:12,629 --> 00:50:16,709
average daily range, I use others, but most of my analysis

806
00:50:16,769 --> 00:50:21,689
is based on a five day average daily range. So I'll be

807
00:50:21,689 --> 00:50:28,979
utilizing the MT four tool that I shared on the internet for

808
00:50:28,979 --> 00:50:32,879
my average daily range for five day basis. I don't even load

809
00:50:32,879 --> 00:50:37,349
that up until I get to 10 GMT. Okay, so have that in your

810
00:50:37,349 --> 00:50:42,149
notes at 10 GMT, that is when you open up your average daily

811
00:50:42,149 --> 00:50:46,109
range, okay, and then whatever that level it shoots for, for

812
00:50:46,109 --> 00:50:49,229
a projected high, that's what you'd be aiming for for the

813
00:50:49,229 --> 00:50:52,559
day. Now, it doesn't always get to those levels. Okay, many

814
00:50:52,559 --> 00:50:55,529
times it'll probably fall short of it in the meantime, so do

815
00:50:55,529 --> 00:50:57,599
well behind and we'll talk about that later on in the video.

816
00:50:59,099 --> 00:51:00,659
But and Unless

817
00:51:00,749 --> 00:51:03,359
average daily range has been fulfilled if we get an

818
00:51:03,479 --> 00:51:07,319
retracement in the New York session and by pulling your

819
00:51:07,319 --> 00:51:11,519
Fibonacci based on swings from the London open session, we

820
00:51:11,519 --> 00:51:13,439
could get another optimal trade entry in here to get long

821
00:51:13,439 --> 00:51:16,709
and fulfilled the rest of the day. So if you're a type of

822
00:51:16,709 --> 00:51:19,829
trader that wants to add to winning trader winning trades

823
00:51:19,829 --> 00:51:23,009
that are open, this is one way you could do it or you could

824
00:51:23,009 --> 00:51:27,329
take profits here you know and then to take another smaller

825
00:51:27,329 --> 00:51:30,659
position in here, okay, I'm not advocating you told me you

826
00:51:30,659 --> 00:51:33,329
should trade like that, but it's a lot of freedom involved.

827
00:51:33,389 --> 00:51:35,939
I have this understanding because you can apply it to

828
00:51:35,939 --> 00:51:39,389
whatever type of trader you are. Me, if I went long down

829
00:51:39,389 --> 00:51:43,889
here, my stop loss will remain below the daily low. Okay, so

830
00:51:43,889 --> 00:51:46,139
that's one of the important things that if you're a day

831
00:51:46,139 --> 00:51:49,739
trader and you're trading London, I do not share my stop

832
00:51:49,739 --> 00:51:52,679
loss inside the range once the lows formed in London.

833
00:51:53,219 --> 00:51:56,489
Whatever the short term lows are, I could care less. Okay,

834
00:51:56,489 --> 00:51:59,069
because I know that New York is likely to have a retracement

835
00:51:59,099 --> 00:52:02,669
rather deep sometimes So that's why I take some profits when

836
00:52:02,669 --> 00:52:05,609
we trade back up and blow out the Asian range highs again,

837
00:52:05,669 --> 00:52:10,679
once we dip down, I'm taking sometimes 30% 50% most cases

838
00:52:10,679 --> 00:52:14,489
and sometimes even 70% of my trade off at that level. Now

839
00:52:14,489 --> 00:52:17,969
what? What establishes that, that parameter? Well, if I'm

840
00:52:17,969 --> 00:52:21,089
trading against the higher time frame premise, I'm taking

841
00:52:21,299 --> 00:52:28,439
70% off here. Okay? If I'm trading with the higher premise

842
00:52:28,469 --> 00:52:33,059
in mind, I'm taking 30% off here and leaving 70%. One, we're

843
00:52:33,089 --> 00:52:36,869
reaching for the average daily range or higher, okay? If I'm

844
00:52:36,869 --> 00:52:39,239
just really not sure I'm not comfortable, you know, I'll

845
00:52:39,239 --> 00:52:43,589
take 50% off of the trade here and leave 50% of the initial

846
00:52:43,619 --> 00:52:47,519
entry on long, but my stop loss stays down here, breakeven,

847
00:52:47,639 --> 00:52:50,489
once it goes inside this daily range, it should never come

848
00:52:50,489 --> 00:52:52,769
back down to that low again. If it does the trades, no,

849
00:52:52,769 --> 00:52:55,829
good. Now, if it doesn't take me out, I could care less.

850
00:52:55,859 --> 00:52:59,369
Hopefully I've made first profit in here or I've moved

851
00:52:59,669 --> 00:53:04,229
myself Up progressively enough to limit my risk, even though

852
00:53:04,229 --> 00:53:07,739
my initial stop loss is 30. At some point as prices start to

853
00:53:07,739 --> 00:53:12,329
move here, I'm trimming it down to 20 1510. Five to break

854
00:53:12,329 --> 00:53:15,359
even eventually, okay, but I'm not in a hurry to move my

855
00:53:15,359 --> 00:53:18,629
stop loss up to break even. I'm not not trying to lock in

856
00:53:18,629 --> 00:53:22,229
profits, because you'll learn by doing this over a period of

857
00:53:22,229 --> 00:53:26,129
time that price action intraday many times. They know how

858
00:53:26,249 --> 00:53:28,049
you're going to trade and you're going to trail your stop

859
00:53:28,049 --> 00:53:31,139
loss. And so if you're right on day, and they can tag you

860
00:53:31,139 --> 00:53:34,019
out and your long, think about it, what your stop loss is

861
00:53:34,019 --> 00:53:38,459
going to be. It's a stop for selling, okay? It's going to

862
00:53:38,459 --> 00:53:41,549
become a sell order at the market, who's going to take the

863
00:53:41,549 --> 00:53:44,249
other side of that trade smart money. So if they can take it

864
00:53:44,249 --> 00:53:47,549
back down there and stop you out, and your stop becomes a

865
00:53:47,549 --> 00:53:51,749
market order to sell that that stopped being triggered. Your

866
00:53:51,749 --> 00:53:56,729
long it's sold to them, because they're going to buy, okay,

867
00:53:57,089 --> 00:53:59,699
and then don't be able to own they'll be on the move going

868
00:53:59,699 --> 00:54:02,189
higher. In the average daily range for London close up in

869
00:54:02,189 --> 00:54:03,689
here in terms of time and price theory

870
00:54:08,369 --> 00:54:09,089
right now,

871
00:54:10,139 --> 00:54:13,079
many times you'll see price give you this buying

872
00:54:13,079 --> 00:54:14,759
opportunity. And this may look a little bit different here,

873
00:54:14,759 --> 00:54:16,679
but what I'm gonna bring to your attention as many times

874
00:54:16,709 --> 00:54:19,859
it'll trade up bullish Lee and you'll be long in the London

875
00:54:19,859 --> 00:54:23,549
open. But if we trade up into a higher level key or weekly

876
00:54:23,549 --> 00:54:26,579
or daily or even monthly resistance level up here, in the

877
00:54:26,579 --> 00:54:30,449
trades up into that into the New York or London close

878
00:54:30,449 --> 00:54:33,809
timeframe, many times this will set up a market reversal

879
00:54:33,809 --> 00:54:37,109
profile. Okay? So have that in mind. Don't Don't marry the

880
00:54:37,109 --> 00:54:40,109
vein simply because you have a bullish market structure,

881
00:54:40,109 --> 00:54:43,169
everything's bullish and you're being profitable. Don't hold

882
00:54:43,169 --> 00:54:44,759
on to these things, thinking they're always gonna go to the

883
00:54:44,759 --> 00:54:46,979
moon, okay? Because this is the scenario that might unfold

884
00:54:46,979 --> 00:54:51,029
and if you hold on to your position with too much of the

885
00:54:51,419 --> 00:54:54,119
initial position open, you could end up seeing some of your

886
00:54:54,119 --> 00:54:57,509
profits I think erode and maybe become a losing trade again

887
00:54:57,509 --> 00:55:01,319
that this illustrates the notion Why stocks are important.

888
00:55:06,539 --> 00:55:10,079
Okay, obviously, if we're looking at the reverse and you see

889
00:55:10,079 --> 00:55:13,349
price rallying up here, this is going to illustrate an

890
00:55:13,349 --> 00:55:17,069
hourly chart, we would be looking for the price swings on an

891
00:55:17,069 --> 00:55:21,719
hourly basis intra week to permit are trading based on a

892
00:55:21,869 --> 00:55:27,269
daily and four hour premise or directional bias. Once the

893
00:55:27,449 --> 00:55:30,269
hourly chart gets in sync with that, it just makes your

894
00:55:30,269 --> 00:55:34,019
London open trades very, very easy. And again, this is not

895
00:55:34,019 --> 00:55:37,439
to teach you how to trade every single London open. It's

896
00:55:37,709 --> 00:55:41,909
mainly focused on the real easy setups, okay, and by easy, I

897
00:55:41,909 --> 00:55:45,989
don't mean guaranteed profits, okay. So everything I'm

898
00:55:45,989 --> 00:55:49,289
teaching you here is for you to utilize in a demo account.

899
00:55:49,469 --> 00:55:51,839
Okay, so you got to pay attention. These risk disclaimers in

900
00:55:51,839 --> 00:55:54,029
the beginning, the videos are there for a reason they're not

901
00:55:54,029 --> 00:55:57,119
for decoration. Everything I'm showing you is obviously just

902
00:55:57,119 --> 00:55:59,429
for informational purposes, so utilize them in a demo

903
00:55:59,429 --> 00:56:02,129
account. Don't want credit for you making money. And I

904
00:56:02,129 --> 00:56:04,229
certainly don't want credit for you losing money. So we got

905
00:56:04,229 --> 00:56:06,869
to be responsible with this information. So with all that

906
00:56:06,869 --> 00:56:09,209
said, this being an hourly chart, we got to look at the

907
00:56:09,209 --> 00:56:11,909
swings on an hourly basis. And while this illustrates a

908
00:56:11,909 --> 00:56:15,089
rather crude example of price action, all the things that we

909
00:56:15,089 --> 00:56:19,169
said that were true about break in market structure going

910
00:56:19,169 --> 00:56:21,659
bullish, same thing happens here. When Mark structure

911
00:56:21,659 --> 00:56:26,399
breaking down on this high here, every rally up is going to

912
00:56:26,399 --> 00:56:30,569
be a possible area to look for selling scenarios in London

913
00:56:30,569 --> 00:56:33,959
open. So looking at that. This is what you end up seeing

914
00:56:33,959 --> 00:56:38,159
many times, you'll see this swing down and there's a rally

915
00:56:38,159 --> 00:56:41,609
up in London open, you'll get a optimal trade entry many

916
00:56:41,609 --> 00:56:44,759
times trade up into this specific point here. Okay, but

917
00:56:44,789 --> 00:56:47,369
initially, you'll see the Asian range in here. There's an

918
00:56:47,369 --> 00:56:51,869
initial drop down, pending orders that are tripped, okay,

919
00:56:52,079 --> 00:56:56,729
those that are caught, net sellers, okay. are dragged

920
00:56:56,729 --> 00:57:00,299
against the coals and then all of a sudden, it goes To a

921
00:57:00,299 --> 00:57:03,269
deeper range retracement here optimal trade entry. Once you

922
00:57:03,269 --> 00:57:06,179
see this higher time frame resistance level, again, much in

923
00:57:06,179 --> 00:57:09,719
the same capacity we used for the buy scenario, the same

924
00:57:09,719 --> 00:57:13,499
rules apply here for the sell, you would look for the London

925
00:57:13,499 --> 00:57:17,549
open kill zone in here. Two o'clock in the morning, three

926
00:57:17,549 --> 00:57:21,389
o'clock, four o'clock in the morning, New York time, or 68

927
00:57:22,019 --> 00:57:27,359
or 69 GMT, that window of opportunity for the London open.

928
00:57:27,749 --> 00:57:30,689
That's the kills and you would look to see this actual high

929
00:57:30,689 --> 00:57:33,539
form. And this many times will be the actual high of the day

930
00:57:33,569 --> 00:57:36,929
and then you would just wait for price to try to move into

931
00:57:36,929 --> 00:57:42,119
that new york open timeframe or London close. So looking at

932
00:57:42,119 --> 00:57:45,659
it a little bit more detail again, not in the same way we

933
00:57:45,659 --> 00:57:48,209
did with the buy. We had the Asian range in here, the

934
00:57:48,209 --> 00:57:51,749
initial drop, this doesn't have to happen. But when price

935
00:57:51,749 --> 00:57:53,669
rallies up out of the Asian range many times you'll see it

936
00:57:53,669 --> 00:57:57,419
dip back down into it, giving you a optimal trade entry here

937
00:57:57,869 --> 00:58:01,109
and then rallies on up into a

938
00:58:01,650 --> 00:58:02,700
previous

939
00:58:03,750 --> 00:58:06,120
higher level support resistance level again much in the same

940
00:58:06,120 --> 00:58:09,450
way we talked about for the buy scenario, this setup in

941
00:58:09,450 --> 00:58:13,140
here. Okay, this setup in here is what you're hunting. You

942
00:58:13,140 --> 00:58:16,170
don't want to see this this right here is the Judas you

943
00:58:16,170 --> 00:58:19,590
anticipate this when the market structure is bearish When

944
00:58:19,590 --> 00:58:22,740
You're Expecting lower prices and higher timeframe. So this

945
00:58:22,740 --> 00:58:26,580
is how you fade rallies, you sell rallies, you hear that so

946
00:58:26,820 --> 00:58:27,150
that

947
00:58:27,510 --> 00:58:28,080
market

948
00:58:29,280 --> 00:58:32,460
proverb, you know, buy low, sell high and sell high and buy

949
00:58:32,460 --> 00:58:36,450
lower. Okay, well, you selling rallies and buying dips, this

950
00:58:36,450 --> 00:58:39,450
is what we do. We expect this rally to take place. We don't

951
00:58:39,450 --> 00:58:41,790
chase it. Okay, if you're a scalper sure you can do that.

952
00:58:41,850 --> 00:58:44,790
I'm not a scalper. Okay, I'll teach you how to intraday

953
00:58:44,790 --> 00:58:48,930
trade with the London Express, okay, you're trying to be in

954
00:58:48,930 --> 00:58:52,320
here for an intraday run of several hours, not a couple

955
00:58:52,320 --> 00:58:54,870
minutes. But if you see the optimal trade entry in here

956
00:58:54,870 --> 00:58:58,290
form, okay, once the price starts to break down, it may give

957
00:58:58,290 --> 00:59:00,210
you another secondary optimal trade entry in many time

958
00:59:00,210 --> 00:59:03,600
you'll see that unfold. But usually about this time it's 10

959
00:59:03,600 --> 00:59:07,800
GMT and it's really on their way, okay? And it'll rally back

960
00:59:07,800 --> 00:59:14,250
up into a deep retracement. Using a London open high short

961
00:59:14,250 --> 00:59:16,650
term high, you can see that on a five or 15 minute

962
00:59:16,650 --> 00:59:19,170
timeframe. That's when you'll get your optimal trade entry

963
00:59:19,350 --> 00:59:23,820
for secondary entry or continuation pattern for the daily

964
00:59:23,820 --> 00:59:27,030
trend in the New York open session, then it'll reach for the

965
00:59:27,030 --> 00:59:29,550
average daily range down here five, the average daily range.

966
00:59:29,820 --> 00:59:34,770
So the initial rally obviously again is assuming that we

967
00:59:34,770 --> 00:59:38,100
have a bearish market structure. Okay, the rally up is to

968
00:59:38,100 --> 00:59:43,590
Judas into a known key resistance level. Okay. Now this

969
00:59:43,590 --> 00:59:49,320
level could be pivots with trinities it could be a big

970
00:59:49,320 --> 00:59:53,040
figure. It could be a previous week's high or low. It could

971
00:59:53,040 --> 00:59:56,430
be any time frame support resistance. Okay, look at the

972
00:59:56,610 --> 00:59:59,310
trading key support resistance levels video module. Okay.

973
00:59:59,310 --> 01:00:01,470
gives you all kinds have ideas of what levels you should be

974
01:00:01,470 --> 01:00:06,240
paying attention to. This also, okay, and we talked about

975
01:00:06,240 --> 01:00:11,820
Asian range earlier. When I learned Chris Lori's approach to

976
01:00:11,850 --> 01:00:17,580
applying the Asian range to forex. I learned that if I used

977
01:00:17,610 --> 01:00:23,040
the previous week's Asian range for Friday, and that was a

978
01:00:23,040 --> 01:00:27,240
previous week's Friday's Asian range, and the beginning of

979
01:00:27,240 --> 01:00:29,700
the week, Asian range Sunday and Monday, okay, those agent

980
01:00:29,700 --> 01:00:32,850
ranges extend those levels throughout the entire week, many

981
01:00:32,850 --> 01:00:36,780
times those levels act as support resistance levels, and I

982
01:00:36,780 --> 01:00:39,750
don't know why. So don't ask me. I just noticed one of those

983
01:00:39,750 --> 01:00:42,810
little things in the marketplace. I'm not sure if crystal

984
01:00:42,840 --> 01:00:46,830
Laurie knows about it. But I just I applied to not only my

985
01:00:46,830 --> 01:00:49,410
intraday in other words by having these Asian range highs

986
01:00:49,410 --> 01:00:52,380
and lows. Okay. Laurie teaches to extend that throughout the

987
01:00:52,380 --> 01:00:56,010
entire day. Well, I took that premise and just said okay,

988
01:00:56,010 --> 01:00:58,740
well what happens if I take it and apply it across the week

989
01:00:58,740 --> 01:01:02,910
on key days The beginning and the ending of the week. And

990
01:01:03,060 --> 01:01:05,400
I'll let you decide whether or not there's any merit to it

991
01:01:05,400 --> 01:01:07,560
or not, because I think you're going to be smiling when you

992
01:01:07,560 --> 01:01:10,200
see what happens. Doesn't matter what pair, okay, just look

993
01:01:10,200 --> 01:01:11,970
at Asian range high low on Monday

994
01:01:12,329 --> 01:01:12,929
and Sunday

995
01:01:13,889 --> 01:01:16,559
and on Friday and extend this across the week. So you're

996
01:01:16,559 --> 01:01:21,029
using previous Friday, and this week's Sunday and Monday's

997
01:01:21,029 --> 01:01:24,239
Asian range high low. Okay. And many times I've used the

998
01:01:24,239 --> 01:01:27,539
previous week Sunday in Monday's Asian range high and low to

999
01:01:27,869 --> 01:01:31,859
to draw it across but you'll be fascinated to see how how

1000
01:01:31,859 --> 01:01:35,369
that many times creates dynamic support resistance levels.

1001
01:01:35,369 --> 01:01:38,639
So again, I don't know why. But obviously there's a lot of

1002
01:01:38,639 --> 01:01:40,619
dealing that goes on around there's levels and you know,

1003
01:01:40,649 --> 01:01:44,309
some money in yours doing your business. But you'd be

1004
01:01:44,309 --> 01:01:47,879
looking for obviously, price, trading lower reaching for the

1005
01:01:47,879 --> 01:01:49,949
average daily range, again, not loading the average daily

1006
01:01:49,949 --> 01:01:54,089
range indicator until 10 GMT, which is 5am my time on New

1007
01:01:54,089 --> 01:01:58,589
York. I live in Maryland, but speaking in terms of New York,

1008
01:01:58,589 --> 01:02:02,579
so you guys understand East Coast time. And basically, you

1009
01:02:02,579 --> 01:02:06,149
know, as we get short, we don't trail our stop loss inside

1010
01:02:06,149 --> 01:02:08,489
of the daily range, we keep it at breakeven and we take

1011
01:02:08,489 --> 01:02:12,629
profits at logical areas of support and fib extensions.

1012
01:02:12,629 --> 01:02:17,519
Okay, so by doing that it's easy to absorb retracements on

1013
01:02:17,519 --> 01:02:20,879
open portions of the initial trade because you've already

1014
01:02:20,879 --> 01:02:23,129
banked some profits so even if it comes all the way back and

1015
01:02:23,129 --> 01:02:26,189
takes us out breakeven we've made money on the day so it's

1016
01:02:26,189 --> 01:02:30,239
what it gets to you really want to see that your trading get

1017
01:02:30,239 --> 01:02:33,689
to the level of not feeling to be right and if the trades go

1018
01:02:33,689 --> 01:02:38,639
against you so what either didn't lose much or you take

1019
01:02:38,639 --> 01:02:40,919
first profit or a portion of your profits and if it goes to

1020
01:02:40,919 --> 01:02:43,829
break even is never really breakeven now as you profited

1021
01:02:47,489 --> 01:02:51,089
alright obviously, London open sell signals obviously end up

1022
01:02:51,119 --> 01:02:56,639
being just the catalyst for a market reversal profile. So if

1023
01:02:56,639 --> 01:02:59,489
you see what looks like a classic sell off, okay, many times

1024
01:02:59,489 --> 01:03:02,339
it will trade down to a higher timeframe, monthly, weekly or

1025
01:03:02,339 --> 01:03:04,589
daily support level that you have to be mindful of okay?

1026
01:03:04,589 --> 01:03:07,949
Because this dip down here that you're trading, intraday may

1027
01:03:07,949 --> 01:03:10,979
be a part of a higher timeframe price leg that's maybe over

1028
01:03:10,979 --> 01:03:13,739
here, okay and then trades down and there's not a higher

1029
01:03:13,739 --> 01:03:17,339
level optimal trade entry by scenario. Okay, so all these

1030
01:03:17,339 --> 01:03:19,949
things have to be considered and it goes along with what

1031
01:03:19,949 --> 01:03:24,299
we've discovered in the insider range webinar this year. And

1032
01:03:24,299 --> 01:03:26,459
you probably heard me say this several times. But you can

1033
01:03:26,459 --> 01:03:31,439
find it on the millionaire traders guild thread on baby

1034
01:03:31,439 --> 01:03:36,329
pips, it's in, in a thread in the beginning of the post, the

1035
01:03:36,329 --> 01:03:39,629
very first post to that thread. You can see the link for

1036
01:03:39,629 --> 01:03:42,629
that, that webinar. Again, it's inside the range. So there's

1037
01:03:42,629 --> 01:03:47,489
concepts of using Fibonacci and where price structure moves

1038
01:03:47,489 --> 01:03:50,249
from one high to low to me from high to low, and working

1039
01:03:50,249 --> 01:03:54,449
within predetermined ranges will allow you to expect or at

1040
01:03:54,449 --> 01:03:57,119
least anticipate these types of events. So while this may be

1041
01:03:57,119 --> 01:04:00,929
a profitable London, open sell scenario Don't be

1042
01:04:01,710 --> 01:04:02,520
blind,

1043
01:04:03,240 --> 01:04:06,990
okay, to this unfolding, it could very easily sneak up on

1044
01:04:06,990 --> 01:04:08,070
you if you're not looking at the higher time

1045
01:04:08,070 --> 01:04:08,760
frame premise.

1046
01:04:10,949 --> 01:04:13,889
So when do you avoid the long open? Okay, well, me

1047
01:04:13,889 --> 01:04:19,019
specifically, I try to limit my on an open trading around a

1048
01:04:19,019 --> 01:04:22,259
few obvious reasons. If interest rate announcements are

1049
01:04:22,259 --> 01:04:25,769
coming in, obviously I'm on on the sidelines waiting. And if

1050
01:04:25,769 --> 01:04:29,699
there's a key speech, keynote speaker, a big deal, come

1051
01:04:30,149 --> 01:04:32,789
comes across the news wires that hey, look, you know, so and

1052
01:04:32,789 --> 01:04:35,579
so is gonna be talking about whatever, you know, economy,

1053
01:04:36,089 --> 01:04:39,089
and it has a direct impact to my specific pair, I won't

1054
01:04:39,089 --> 01:04:39,479
trade.

1055
01:04:40,170 --> 01:04:42,210
If it's a holiday, I won't trade.

1056
01:04:42,630 --> 01:04:45,000
If it's approaching a holiday many times, I'll second guess

1057
01:04:45,000 --> 01:04:48,780
trading. And if there's a global or economic event that

1058
01:04:48,780 --> 01:04:51,690
takes place, it surprises the markets. I won't I won't trade

1059
01:04:51,690 --> 01:04:56,850
that day, not even even New York. And obviously if my weekly

1060
01:04:56,850 --> 01:04:59,970
range objectives are achieved, there's no needs there's no

1061
01:05:00,000 --> 01:05:02,430
For me to go in here and try to chase it out this, hopefully

1062
01:05:02,430 --> 01:05:06,690
have a position that's open. And occasionally, you know if

1063
01:05:06,690 --> 01:05:09,390
the Asian range is greater than 50 pips, you know, I will

1064
01:05:09,390 --> 01:05:12,330
just wait for the New York session to open so anything

1065
01:05:12,330 --> 01:05:14,700
greater than 40 kind of like puts me on the sidelines either

1066
01:05:14,700 --> 01:05:18,180
expecting a real deep optimal trade entry back in the Asian

1067
01:05:18,180 --> 01:05:21,480
range for London open or simply wait for the New York

1068
01:05:21,480 --> 01:05:23,310
session because it's much easier to trade that

1069
01:05:23,639 --> 01:05:26,219
and let the smarter people figure out what London's doing.

1070
01:05:33,659 --> 01:05:36,449
Alright, so let's take a look at an example when average

1071
01:05:36,449 --> 01:05:40,229
daily range doesn't matter and how we can use that concept

1072
01:05:40,409 --> 01:05:43,469
and maybe ferret out greater profit potential.

1073
01:05:49,349 --> 01:05:53,849
Okay, folks, let's let's look at an example at how average

1074
01:05:53,849 --> 01:05:59,789
daily range doesn't always equate to the actual higher loan

1075
01:05:59,819 --> 01:06:04,919
debt. A lot of folks have a lot of preconceived expectations

1076
01:06:05,039 --> 01:06:09,239
on and I think they're a little aggressive and outside the

1077
01:06:09,239 --> 01:06:12,689
spectrum of reality. If it was like this all the time,

1078
01:06:12,689 --> 01:06:15,959
obviously it would be just everybody will be doing it. But

1079
01:06:16,169 --> 01:06:19,679
if we are in sync with the higher time frame premise, okay,

1080
01:06:19,679 --> 01:06:23,849
and we're expecting a bullish move and I'll zoom in and show

1081
01:06:23,849 --> 01:06:27,569
you the intraday version of the swing we're looking at in

1082
01:06:27,569 --> 01:06:31,169
the intraday action and then walking, zoom out and he'll

1083
01:06:31,169 --> 01:06:35,969
show you why this takes place. It just so happened today was

1084
01:06:35,969 --> 01:06:39,719
an example of this very phenomenon taking place. The average

1085
01:06:39,719 --> 01:06:42,629
daily range in here has been fulfilled today. That's what

1086
01:06:42,629 --> 01:06:46,199
the indicator that you see in my videos and in this one as

1087
01:06:46,199 --> 01:06:49,769
well has already turned blue. Okay, so that means the

1088
01:06:49,769 --> 01:06:54,029
average daily range has been activated. The average daily

1089
01:06:54,029 --> 01:06:59,969
range, okay low is overlapping with the Asian range, low key

1090
01:06:59,999 --> 01:07:03,059
So we have the Asian range here. Okay, it's a little less

1091
01:07:03,059 --> 01:07:08,159
than 30 pips. So let's take a look at that. And you'll see

1092
01:07:08,159 --> 01:07:15,749
that we have 28 pips for the Asian range, okay, nice healthy

1093
01:07:15,749 --> 01:07:20,519
little danger range, nothing, you know, extrapolated or too

1094
01:07:20,519 --> 01:07:26,279
large 40 or less is is, in my opinion, a good Asian range.

1095
01:07:27,629 --> 01:07:31,979
We have a optimal trade entry in here. Okay. It's good

1096
01:07:31,979 --> 01:07:40,319
utilized. Take a look at that. Pull it up to the Asian range

1097
01:07:40,319 --> 01:07:43,769
high. And we have perfect symmetry in here comes right down

1098
01:07:43,769 --> 01:07:48,299
to the 797 tracing level. And reax breaks short term little

1099
01:07:48,299 --> 01:07:51,929
swing highs in here. So now if you've missed this one, you

1100
01:07:51,929 --> 01:07:56,609
could utilize the smaller market structure swings in here,

1101
01:07:57,119 --> 01:07:59,279
on intraday again, this is a five minute chart

1102
01:08:00,809 --> 01:08:01,859
And utilizing that

1103
01:08:03,210 --> 01:08:06,690
one could arrive at a buy signal in here around the 160 30

1104
01:08:06,690 --> 01:08:09,570
level. Now, if you're looking to buy that and take first

1105
01:08:09,570 --> 01:08:13,860
profit here based on optimal trade entry rules, and then

1106
01:08:13,860 --> 01:08:16,920
looking to take profits up here on the average daily range,

1107
01:08:18,720 --> 01:08:21,420
you may see it. The average daily range comes in today at

1108
01:08:21,480 --> 01:08:25,350
160 57. So if you're looking just to take profits up here,

1109
01:08:25,920 --> 01:08:29,040
and old highs, there's nothing wrong with that don't

1110
01:08:29,070 --> 01:08:31,980
collapse the entire position because you're trading with the

1111
01:08:31,980 --> 01:08:34,350
higher timeframe direction. Okay, we're going to look at

1112
01:08:34,350 --> 01:08:37,080
that in a moment. But let's just watch what happens as the

1113
01:08:37,080 --> 01:08:41,550
market trades on throughout the day. rallies up gives you an

1114
01:08:41,550 --> 01:08:44,160
opportunity to take profits here at the optimal trade entry

1115
01:08:44,610 --> 01:08:51,060
swing. Price comes up blows out these highs. Okay, so yeah,

1116
01:08:51,060 --> 01:08:52,890
this would have been a very handsome opportunity to take

1117
01:08:52,890 --> 01:08:58,590
profits. Okay, nice little intraday 20 pips, scalp but look

1118
01:08:58,590 --> 01:09:07,200
what happens. Here's your average daily range here. Okay? So

1119
01:09:07,200 --> 01:09:09,180
if you're taking profits with the expectation that this is

1120
01:09:09,180 --> 01:09:11,970
probably gonna be the high the day, you miss out on all

1121
01:09:11,970 --> 01:09:15,960
this, okay? So when you're in when you're in sync with the

1122
01:09:15,960 --> 01:09:19,620
higher time frame premise, okay? Watch what sometimes can

1123
01:09:19,620 --> 01:09:23,760
unfold, you have the range here. And what we're measuring

1124
01:09:23,760 --> 01:09:27,480
here is the average daily range, the average daily range.

1125
01:09:29,789 --> 01:09:31,139
When that breaks,

1126
01:09:33,180 --> 01:09:36,120
you could sometimes see twice the average daily range, you

1127
01:09:36,120 --> 01:09:38,670
can see how we have a little minor reaction here and still

1128
01:09:38,670 --> 01:09:42,510
it continues to move on higher. Okay. So now watch what also

1129
01:09:42,510 --> 01:09:46,530
you can do with Fibonacci. If you have the average daily

1130
01:09:46,530 --> 01:09:49,650
range here and it's broken and you still hold on to a

1131
01:09:49,650 --> 01:09:52,890
position and it starts to tear starts to run even further in

1132
01:09:52,890 --> 01:09:57,300
your anticipated direction. If you use that average daily

1133
01:09:57,300 --> 01:10:05,190
range high, pull your fib down to it. Okay, you have the 200

1134
01:10:05,190 --> 01:10:08,040
extension in here, look how that overlaps very handsomely

1135
01:10:08,040 --> 01:10:11,370
right there. Okay. So that would be a very nice objective to

1136
01:10:11,370 --> 01:10:15,300
take profits at. Okay? Nothing wrong with that. Add to that

1137
01:10:15,300 --> 01:10:20,580
also, if you use your expenses expansion tool

1138
01:10:26,730 --> 01:10:29,760
Okay, just go here and go your expansion, do the same

1139
01:10:29,790 --> 01:10:32,310
similar type thing, but we're going to use the low here and

1140
01:10:32,310 --> 01:10:35,160
it would just reverse it for sell signals. We're going to

1141
01:10:35,190 --> 01:10:42,390
pull the Fibonacci expansion tool up using the average daily

1142
01:10:42,390 --> 01:10:47,970
range range itself. Okay, let's get this off here. It may

1143
01:10:47,970 --> 01:10:51,480
not be bothering you but man is it bother me? The 200

1144
01:10:51,480 --> 01:10:55,620
expansion right here nailing the high the day. Okay, so you

1145
01:10:55,620 --> 01:11:01,350
can see how these concepts they blend there. Rather generic

1146
01:11:01,350 --> 01:11:05,730
and we have used them for years now on baby pips and my

1147
01:11:05,730 --> 01:11:10,200
YouTube channel. These are concepts that are repeatable,

1148
01:11:10,230 --> 01:11:13,680
they go on and on and on and on. But do not be hung up with

1149
01:11:13,680 --> 01:11:18,090
simply expecting the average daily range to new bracket the

1150
01:11:18,090 --> 01:11:20,610
market and Canada. Just because the average daily range

1151
01:11:20,610 --> 01:11:24,210
suggested price may stop here, it may pause like it does

1152
01:11:24,210 --> 01:11:26,460
here. And I'm sure there's a lot of traders in here that

1153
01:11:26,460 --> 01:11:29,550
took this and said, Well, you know, this is probably it.

1154
01:11:29,640 --> 01:11:32,100
We're hitting old resistance and there you go. There you go.

1155
01:11:32,550 --> 01:11:35,370
Now let's take a step back. Okay. And I'm going to do is

1156
01:11:35,400 --> 01:11:40,380
zoom out to a 15 minute chart. Okay, you start seeing rather

1157
01:11:40,380 --> 01:11:45,090
handsome price objectives. Okay, watch what happens here. We

1158
01:11:45,090 --> 01:11:49,920
have this swing down to this swing here. We have the 162

1159
01:11:49,920 --> 01:11:53,850
extension up in this same general area here so we have a lot

1160
01:11:53,850 --> 01:11:57,600
of Confluence to suggest there's possibly something else up

1161
01:11:57,600 --> 01:12:01,710
there in terms of profit taking We look at the larger price

1162
01:12:01,710 --> 01:12:09,990
swing here on this fractal. We have this range here. And

1163
01:12:09,990 --> 01:12:15,840
look what happens we have a 162. Extension, nailing the high

1164
01:12:15,840 --> 01:12:18,780
again, so we have a confluence of a lot of factors, looking

1165
01:12:18,780 --> 01:12:23,400
at 161 15 as a likely upside objective, which is well beyond

1166
01:12:23,400 --> 01:12:26,760
the average daily range high here does expect it to simply

1167
01:12:26,760 --> 01:12:31,050
using one tool by itself isn't enough guys, you gotta have a

1168
01:12:31,050 --> 01:12:35,160
confluence of things suggesting that this may be in fact,

1169
01:12:36,090 --> 01:12:40,230
going higher. You see that happening here? So let's go out

1170
01:12:40,230 --> 01:12:43,770
even further. And look at an hourly chart. You can see how

1171
01:12:43,770 --> 01:12:49,620
we had made a longer term swing low here, moves on higher we

1172
01:12:49,620 --> 01:12:52,830
consolidate it and look what we've formed in here. Okay, do

1173
01:12:52,830 --> 01:12:56,850
you see the ascending triangle here? ascending triangle, we

1174
01:12:56,850 --> 01:13:01,170
have price bouncing up against that 160 50 level. Okay, at

1175
01:13:01,170 --> 01:13:05,580
the same time, okay, at the same time, we expected the

1176
01:13:05,580 --> 01:13:09,930
dollar to break below its support level, okay, because we

1177
01:13:09,930 --> 01:13:12,840
have a descending triangle here. So we have symmetry between

1178
01:13:12,840 --> 01:13:17,610
the two markets. Okay? So we were looking for the 7970 level

1179
01:13:17,610 --> 01:13:21,120
or 7950 level respectively on the dollar. So we're expecting

1180
01:13:21,150 --> 01:13:24,390
weakness on the dollar, it's going to translate into higher

1181
01:13:24,390 --> 01:13:28,650
prices on the cable. And you see that unfold here. Okay, so

1182
01:13:28,650 --> 01:13:30,870
when you're trading in direction of the higher time frame

1183
01:13:30,870 --> 01:13:34,050
premise, don't be lulled into thinking that the average

1184
01:13:34,050 --> 01:13:37,410
daily range is going to block the market from trading any

1185
01:13:37,410 --> 01:13:41,670
further because it will not it Okay, it's just one tool,

1186
01:13:41,760 --> 01:13:46,170
okay? It's one premise to build your trading ideal and now

1187
01:13:46,200 --> 01:13:48,120
there's nothing wrong with taking profits at the average

1188
01:13:48,120 --> 01:13:52,050
daily range. But again, this is the reason why we just scale

1189
01:13:52,050 --> 01:13:58,230
some out because we don't know if it's going to be halting

1190
01:13:58,470 --> 01:14:02,280
at that price level or Not continue on obviously, today's

1191
01:14:02,280 --> 01:14:06,270
being a perfect example of that. So go over your charts and

1192
01:14:06,270 --> 01:14:11,580
look at when the average daily range was broken and was not

1193
01:14:11,580 --> 01:14:14,070
able to hold price back and I think you'll be pleasantly

1194
01:14:14,070 --> 01:14:16,830
surprised. It's always in the sense that you're trading with

1195
01:14:16,830 --> 01:14:18,120
a higher time frame premise.

1196
01:14:18,540 --> 01:14:20,610
I just hope it's been a blessing to you. And

1197
01:14:20,760 --> 01:14:23,160
sincerely absolutely wishing Good luck.