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Version 1.1 by Drunk Monkey on 2020-11-20 16:50
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3 ICT: Okay guys, we are looking at the intraday trading plan
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7 module four trading plan development series is Part Seven
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11 last in the series, right we're looking at pretty much a
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15 very generic approach to how
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19 I trade.
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23 Obviously you could build upon this is simply just an idea
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27 to use as a foundation for your demo trading. And the
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31 premise behind this style trading is obviously still within
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35 the scope of trading in sync with the market structure,
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39 okay? The duration of these types of trades obviously are
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43 intraday, and a portion of which after being scaled out
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47 maybe held overnight, and if you use the previous modules
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51 also we can use these concepts as well as interdict entering
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55 into higher timeframe, trades as well.
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59 The average PIP
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63 return is anywhere between 20 to 100 pips per trade. And if
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67 you look at the overall approach, when we look for buy
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71 signals, we're trying to trade in the observance of a
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75 bullish market maker profile or fractal. And we're gonna be
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79 looking for price patterns and confluences around support
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83 levels. And the optimal trade entry is going to be utilized
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87 for entry price, and fib extensions for profits. The entry
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91 and exits are simply based on time and price theory and
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95 We'll talk more about that as we go through. And much like
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99 everything I teach. The opposite is said for the sell
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103 signals, we're going to be trying to trade in observance of
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107 a bearish market maker profile or fractal. We're going to
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111 look for price patterns and conferences around resistance
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115 levels. And we utilizing the optimal trade entry for entry
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119 price and using fib extensions for profits. And our entry
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123 and exit are based on time and price theory as well.
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127 Risking no more than 2%
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131 maximum per trade. And we're gonna be utilizing risk
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135 management and control procedures as we discussed in how to
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139 handle losses trading module, and I'll have links at the end
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143 of this video. So you guys can utilize those for amplified
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147 education if it's the first time you've seen
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151 my work.
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155 Alright, looking at the overall concepts, okay, the key
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159 points and content concepts and tools we're going to utilize
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163 for this module is obviously, hedging upon your
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167 understanding of price action. Now, do not be intimidated if
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171 this goes over your head the first time you see it. It's for
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175 folks that are basically students of the work I've already
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179 produced and shared for over the last few years on baby pips
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183 calm in their forums. If you do not have the foundational
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187 information that's found in my thread on newbie Island,
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191 titled what every new and or aspiring forex trader still
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195 wants to know. The first post of that thread has the
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199 framework for most of what you're seeing in this module. By
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203 utilizing those tools and spending some time with it and
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207 studying price action and not indicators, you'll you'll
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211 build a backbone to flesh out the rest of your price action
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215 trading. Now, obviously The next stage when we're going to
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219 be using intraday trading your understanding of the Asian
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223 range, okay? The Asian range was introduced to me by Chris
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227 Laurie. He's one of the well respected individuals in the
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231 Forex industry. He's the only one that really I support in
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235 terms of teaching. A lot of the things he he goes along with
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239 in terms of technical analysis and approaches to trading are
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243 very close to what I do. It's not exactly the same but it's
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247 close to there. There probably is out there. You even though
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251 he is a paid educator, he does have free resources and
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255 information is made available. At the time of this
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259 recording. You can reach him at Chris laurie.com. He has
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263 Twitter accounts and all that stuff just like I do.
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267 The main
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271 premise to my intraday trading is based on the direction of
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275 the day, and also trading in the direction of the week.
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279 Okay, so if I can trade in the higher timeframe direction
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283 and have the daily bias in that same directional sense, my
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287 odds of success are greatly amplified. Okay. And as a day
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291 trader, when I used to trade the futures market, I trade the
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295 bonds and the s&p 500 back when it was $500 per
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299 point or full handle,
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303 I understood the premise of having the first hours range,
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307 okay, and I use that as like, like the same thing that we're
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311 gonna be discussing here for the Asian range, okay. And when
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315 I went into trading forex, okay, I stopped trading from the
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319 futures markets and moved into trading forex and I had that
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323 same first hour premise going in and I used the midnight
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327 timeframe from for me, okay, which is five GMT or New York
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331 time, midnight
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335 and I would bracket that
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339 12 to one o'clock in the morning timeframe. And I would look
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343 for breaks above no breaks below this particular range. Now,
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347 obviously, I'm not going to teach that here because now the
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351 concepts that I use with trading with the Asian range
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355 obviously, like I said before, I learned from Chris Laurie.
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359 I didn't know anything about the Asian range in terms of
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363 forex, until I came across his material, so all the credit
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367 is associated with me and my Asian range concepts really
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371 should be attributed to Chris Laurie because that's where I
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375 got it from. I'm not one to try to take credit for something
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379 that I didn't either discover or come across on my own. So
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383 again, because
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387 of the type of
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391 trader I am I, I like to give credit where credit's due, and
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395 the Bible teaches that pattern my life after that as well.
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399 So looking at how the Asian range and the Asian range is The
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403 price action that takes place from GMT zero GMT to five GMT.
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407 So if five hour window that to me is my Asian range. Okay.
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411 And I use midnight New York time as my new day. Okay, I know
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415 that may be confusing to somebody because it's been talked
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419 about various mentors, various teachers resources will talk
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423 about, you know, Wellington and Australia and all that being
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427 the new financial day, not for ICT. Okay. I'm an East Coast
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431 trader on the North American continent. So to me, the new
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435 day for me is midnight, so I reference everything on
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439 midnight. Okay my time but I also reference the previous
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443 price action, okay, that means from zero hundred to five GMT
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447 that price action still has to be
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451 utilized in your network. analysis,
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455 that being the asian session, so the range that it creates
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459 Now granted, Asia still trades beyond five GMT or midnight
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463 my time, but I'm only concerned about what it has done up to
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467 that point. Now Chris Laurie, is he revealed in this webinar
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471 we did together. Earlier in the year, he uses 530 GMT, which
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475 would be equivalent to 1230 GMT. It's not so much you have
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479 to be worried about that. You could use either one really,
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483 but I stick to midnight time or five GMT
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487 and the
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491 the range that price builds between those two windows of
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495 zero GMT to five GMT. That to me, okay is the accumulation
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499 stage for daily range. Okay. In other words, market makers
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503 for PR purposes preparing okay to see The market trades up
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507 or down based on the orders that come in and start stacking
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511 up, you have all kinds of orders that are placed that are
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515 pending. Okay, on an institutional level, not so much retail
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519 because the retail traders, you don't really have the
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523 exposure to this type of information. But I promise you,
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527 there's, there's a lot of orders that are stacking up in
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531 Asia. Okay. And as we get closer to Frankfurt, and London
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535 open, the the volatility, the liquidity, the interest, the
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539 action, all those things start to build up. And you actually
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543 have the biggest point of, you know, volume for the day
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547 coming in around 2am or 3am.
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551 New York time,
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555 okay, which would be seven to eight GMT on the average.
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559 Now,
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563 this range that's assumed
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567 by studying the high and low dis form between zero hundred
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571 GMT and five GMT There's going to be initial stops and limit
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575 orders beyond those specific points, and we're gonna talk
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579 more about that when we get into it. But based on where we
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583 go from there, okay is how I arrive at my London open
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587 trades.
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591 Okay, now I'll have a built
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595 in premise before all these trades take place. I'm not just
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599 looking at chart and saying, Okay, well now it's doing this,
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603 I'm going to react now,
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607 I've built a model. And we're going
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611 to talk about that in here, and how you can utilize these
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615 concepts to flesh out your own approach to trading this
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619 specific timeframe
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623 or time
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627 session intraday, because I do believe that if you are
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631 capable of trading this timeframe or this session, speaking
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635 of which London is what I'm referring to, I think this
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639 offers the highest in terms of probability for maximum PIP
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643 hauls for the intraday trading. I think even though it's
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647 probably scary to most individuals, I think it is the safest
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651 one if you understand price action because it's very
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655 forgiving if you understand what you're looking for. And the
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659 the risk reward is, to me, in my opinion is optimal because
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663 you're going to have risk in every session you trade in any
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667 type of trading. Okay, but for me, since I use a standard 30
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671 PIP stop. That's based on the premise that the average daily
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675 range across the board on the majors is about 100 pips per
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679 day. Now, obviously, it'll fluctuate up and down, but
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683 generally 100 pips is pretty much the safe bet that that's
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687 the average daily range. So I'm using essentially a third of
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691 the average daily range for a stop. So if I'm trading with
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695 the premise that I'm trying to catch the high the day. If
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699 I'm wrong, I'm going to really know I'm wrong. Okay, so 30
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703 pips is going to permit me to do that and we'll talk more
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707 about that as you go. But the London session, what
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711 specifically do we need to know about this session? What
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715 sets it apart? From the others, okay, well, typically it'll
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719 post a daily high or low inside of the first four hours of
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723 trading. If you just note on your chart, exactly eight GMT
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727 eight GMT, which is standard on an open timeframe, you'll
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731 see that that many times makes the higher low. Because it's
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735 the actual London open, or what is referred to as one open,
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739 there's no specific exchange that opens up. It's just that's
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743 when everybody dog piles in and you ever start stacking up
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747 around that time. So by having this premise built in if you
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751 have a higher timeframe, directional bias, in other words,
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755 if you expect the weekly range to be an up candle, okay, in
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759 other words, if you look on the weekly chart, and the candle
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762 00:13:51,330 ~-~-> 00:13:54,150
763 that you expect to form this week, starting on Sunday
764
765 192
766 00:13:54,150 ~-~-> 00:13:57,960
767 trading, if you expect to see the candle for the weekly
768
769 193
770 00:13:57,960 ~-~-> 00:14:01,860
771 range to be an up candle, okay? Or Friday's close to be
772
773 194
774 00:14:01,860 ~-~-> 00:14:05,550
775 greater than Sunday's opening. Okay, essentially what we're
776
777 195
778 00:14:05,550 ~-~-> 00:14:08,910
779 talking about here, inside that weekly range, you're
780
781 196
782 00:14:08,910 ~-~-> 00:14:11,280
783 expecting to capitalize on some kind of a bullish move.
784
785 197
786 00:14:11,520 ~-~-> 00:14:15,270
787 Okay? So by having that premise going into trading, okay,
788
789 198
790 00:14:15,420 ~-~-> 00:14:18,420
791 you're going to be looking for the low to form within the
792
793 199
794 00:14:18,420 ~-~-> 00:14:21,180
795 first four hours of trading during the London open session.
796
797 200
798 00:14:21,420 ~-~-> 00:14:24,330
799 Okay? So what you're going to be looking at as early as 1am,
800
801 201
802 00:14:24,870 ~-~-> 00:14:28,560
803 Eastern Standard Time, New York time, okay? or six GMT.
804
805 202
806 00:14:29,490 ~-~-> 00:14:33,570
807 Generally seven to eight GMT is about when it starts to
808
809 203
810 00:14:33,570 ~-~-> 00:14:39,270
811 form. But the ideal bracket, Killzone that I like to call is
812
813 204
814 00:14:39,270 ~-~-> 00:14:42,780
815 seven to nine GMT. Okay, you can learn more about these
816
817 205
818 00:14:42,990 ~-~-> 00:14:45,630
819 specific times and how to map out your charts and I'm going
820
821 206
822 00:14:45,630 ~-~-> 00:14:48,180
823 to do it in this session because I've done extensively in
824
825 207
826 00:14:48,180 ~-~-> 00:14:52,650
827 other modules but if you look at my video, how to trade key
828
829 208
830 00:14:52,650 ~-~-> 00:14:56,100
831 swing points video, it actually shows you how to map out the
832
833 209
834 00:14:56,100 ~-~-> 00:14:59,160
835 London open kill zone and the New York open kill zone. So I
836
837 210
838 00:14:59,160 ~-~-> 00:15:02,760
839 advise you to take a look That. So if you haven't, obviously
840
841 211
842 00:15:02,760 ~-~-> 00:15:06,690
843 this is a prerequisite for you to continue. So I would
844
845 212
846 00:15:06,690 ~-~-> 00:15:09,510
847 actually tell you to stop the video here and go check that
848
849 213
850 00:15:09,510 ~-~-> 00:15:11,880
851 video out and then come back and pick up where we're at
852
853 214
854 00:15:11,880 ~-~-> 00:15:16,920
855 right now. Okay, so those that did take the instructions
856
857 215
858 00:15:17,400 ~-~-> 00:15:22,260
859 welcome back and those that didn't Shame on you. London open
860
861 216
862 00:15:22,350 ~-~-> 00:15:26,700
863 typically sees a stop raid or false breakout. Okay, there's
864
865 217
866 00:15:27,690 ~-~-> 00:15:34,170
867 always this tendency for London to see this initial rally up
868
869 218
870 00:15:34,320 ~-~-> 00:15:37,800
871 fake and then drops going into London clothes, okay,
872
873 219
874 00:15:38,160 ~-~-> 00:15:40,170
875 especially if you're expecting a bearish move for the week
876
877 220
878 00:15:40,170 ~-~-> 00:15:43,260
879 or expecting a bearish day. You see this happen over and
880
881 221
882 00:15:43,260 ~-~-> 00:15:46,710
883 over and over again, the Asian range high gets taken out, or
884
885 222
886 00:15:46,830 ~-~-> 00:15:48,690
887 we break out of the Asian range trade right back into the
888
889 223
890 00:15:48,690 ~-~-> 00:15:51,000
891 Asian range again, create an optimal trade entry sell off,
892
893 224
894 00:15:51,270 ~-~-> 00:15:54,120
895 and then goes down into New York and North London closed.
896
897 225
898 00:15:54,930 ~-~-> 00:15:58,620
899 That's generally the type of style trading that I do in the
900
901 226
902 00:15:58,620 ~-~-> 00:16:03,480
903 London session. Now, this swing that takes place from London
904
905 227
906 00:16:03,480 ~-~-> 00:16:07,050
907 going into later part of the day, I dubbed the London
908
909 228
910 00:16:07,050 ~-~-> 00:16:10,230
911 Express. And it simply means that you know, I look at it
912
913 229
914 00:16:10,290 ~-~-> 00:16:13,860
915 like a train ride, it takes 48 hours in duration, okay? And
916
917 230
918 00:16:13,860 ~-~-> 00:16:15,780
919 if you get in if you get in the right direction, it can
920
921 231
922 00:16:15,780 ~-~-> 00:16:19,290
923 really take you places guys. It has a huge amount of pips
924
925 232
926 00:16:19,320 ~-~-> 00:16:21,960
927 laid at your feet, if you understand what you're doing, and
928
929 233
930 00:16:21,960 ~-~-> 00:16:26,760
931 you don't fear holding all day. If you're a scalper and you
932
933 234
934 00:16:26,760 ~-~-> 00:16:29,640
935 get in here and you do these, you know, 510 15 minute trades
936
937 235
938 00:16:29,640 ~-~-> 00:16:32,070
939 and you think you've made a lot of money. That may feel
940
941 236
942 00:16:32,070 ~-~-> 00:16:35,520
943 good, okay, but don't live there. You should develop a
944
945 237
946 00:16:35,520 ~-~-> 00:16:38,850
947 little bit more in terms of price action, and understanding
948
949 238
950 00:16:39,060 ~-~-> 00:16:42,420
951 and allow your access if you traded in London. Permit
952
953 239
954 00:16:42,420 ~-~-> 00:16:45,300
955 yourself to hold something throughout the day. Okay, if you
956
957 240
958 00:16:45,300 ~-~-> 00:16:48,990
959 do that, you'll have a whole lot more pips laid at your feet
960
961 241
962 00:16:49,020 ~-~-> 00:16:51,690
963 in versus just going in the market, taking a few pips and
964
965 242
966 00:16:51,690 ~-~-> 00:16:56,100
967 being happy with that. Additional trade entries can be made
968
969 243
970 00:16:56,100 ~-~-> 00:16:59,610
971 in the direction of London Express trends and you can do
972
973 244
974 00:16:59,610 ~-~-> 00:17:02,850
975 that by trading at the New York open now it's not my point
976
977 245
978 00:17:02,850 ~-~-> 00:17:06,210
979 to teach the New York open. We do have a webinar that was
980
981 246
982 00:17:06,210 ~-~-> 00:17:09,420
983 recorded trade in New York session. You can find that on my
984
985 247
986 00:17:09,420 ~-~-> 00:17:13,140
987 YouTube channel. And it's also linked on the pips. Thread
988
989 248
990 00:17:13,170 ~-~-> 00:17:15,660
991 what every new analyst buying for traders still wants to
992
993 249
994 00:17:15,660 ~-~-> 00:17:19,320
995 know on the first page of that thread. My first post opening
996
997 250
998 00:17:19,320 ~-~-> 00:17:23,040
999 title post has an index of all my videos that's on YouTube,
1000
1001 251
1002 00:17:23,220 ~-~-> 00:17:26,940
1003 that is my initial forex trading course. All those videos
1004
1005 252
1006 00:17:26,940 ~-~-> 00:17:31,830
1007 are there that webinars in that list as well. Time
1008
1009 253
1010 00:17:31,830 ~-~-> 00:17:36,870
1011 objectives are utilize for profit taking and those being
1012
1013 254
1014 00:17:36,900 ~-~-> 00:17:40,440
1015 1500 to 1600 GMT, you've seen this many many times in my
1016
1017 255
1018 00:17:40,440 ~-~-> 00:17:43,740
1019 videos, many times call them the actual high or low the day.
1020
1021 256
1022 00:17:45,360 ~-~-> 00:17:47,670
1023 If we do hold on to a portion of it, we'd love to try to
1024
1025 257
1026 00:17:47,670 ~-~-> 00:17:51,540
1027 take some out at 1800 GMT if it continues to move on from
1028
1029 258
1030 00:17:51,600 ~-~-> 00:17:55,200
1031 London higher load that were traded. And if we have
1032
1033 259
1034 00:17:55,230 ~-~-> 00:17:58,260
1035 obviously a small portion to trade on to hold overnight for
1036
1037 260
1038 00:17:58,710 ~-~-> 00:18:01,950
1039 additional profits that meet Su going into the next day's
1040
1041 261
1042 00:18:01,950 ~-~-> 00:18:04,680
1043 trading, obviously, you know, we'll talk about that when we
1044
1045 262
1046 00:18:04,680 ~-~-> 00:18:08,370
1047 get to it. But we take profit objectives based around time
1048
1049 263
1050 00:18:08,370 ~-~-> 00:18:11,760
1051 and price theory. Okay and it means support resistance,
1052
1053 264
1054 00:18:11,970 ~-~-> 00:18:17,340
1055 swings, projections Fibonacci these old highs and lows and
1056
1057 265
1058 00:18:17,340 ~-~-> 00:18:21,360
1059 specific times that mean the New York open again look at the
1060
1061 266
1062 00:18:21,870 ~-~-> 00:18:24,870
1063 trading the key swing points video module on the information
1064
1065 267
1066 00:18:24,870 ~-~-> 00:18:28,680
1067 around the New York open then the 15 to 1600 GMT profit
1068
1069 268
1070 00:18:28,680 ~-~-> 00:18:31,800
1071 taking our that's London close we have to take our largest
1072
1073 269
1074 00:18:31,800 ~-~-> 00:18:35,400
1075 portion of our intraday trading profits there. And then
1076
1077 270
1078 00:18:35,400 ~-~-> 00:18:38,190
1079 obviously if we're holding intraday and starts to run, you
1080
1081 271
1082 00:18:38,190 ~-~-> 00:18:44,130
1083 can get a late New York swing going into 1800 GMT but if
1084
1085 272
1086 00:18:44,130 ~-~-> 00:18:47,190
1087 you're specifically going to be looking to capture only
1088
1089 273
1090 00:18:47,190 ~-~-> 00:18:50,160
1091 intraday action and never hold overnight, take the lion's
1092
1093 274
1094 00:18:50,160 ~-~-> 00:18:53,160
1095 portion of your profits around the 1500 to 1600 GMT
1096
1097 275
1098 00:18:53,580 ~-~-> 00:18:55,590
1099 hour. So inside of that window
1100
1101 276
1102 00:18:55,590 ~-~-> 00:18:59,880
1103 of of one hour, look to take your profits and scale a little
1104
1105 277
1106 00:18:59,880 ~-~-> 00:19:03,330
1107 more portion if you can hold a little bit, okay? Obviously
1108
1109 278
1110 00:19:03,330 ~-~-> 00:19:06,570
1111 tighten your stop loss off and then reach no more than 1800
1112
1113 279
1114 00:19:06,600 ~-~-> 00:19:09,270
1115 GMT if you're just an intraday trader not holding overnight,
1116
1117 280
1118 00:19:09,750 ~-~-> 00:19:13,710
1119 but 80% of the time, you're going to see that 1500 to 1600
1120
1121 281
1122 00:19:13,890 ~-~-> 00:19:18,660
1123 hour post the counter. higher low numbers, if it's been a
1124
1125 282
1126 00:19:18,660 ~-~-> 00:19:22,830
1127 down day, you'll see the low form around 15 to 1600 GMT and
1128
1129 283
1130 00:19:22,830 ~-~-> 00:19:26,070
1131 if it's an update, you'll see the high form for the day
1132
1133 284
1134 00:19:26,070 ~-~-> 00:19:29,250
1135 around 15 to 1600 GMT. Okay, so long open gives you the
1136
1137 285
1138 00:19:29,250 ~-~-> 00:19:33,240
1139 higher low, and then 1500 to 1600 gives you the opposite end
1140
1141 286
1142 00:19:33,240 ~-~-> 00:19:36,300
1143 of the daily range. Okay, so if you take nothing else from
1144
1145 287
1146 00:19:36,300 ~-~-> 00:19:39,600
1147 this, this video module, that right there in itself will
1148
1149 288
1150 00:19:39,600 ~-~-> 00:19:41,550
1151 make you more money in your demo account than you've ever
1152
1153 289
1154 00:19:41,550 ~-~-> 00:19:45,480
1155 probably imagined. Okay, that's how precise these concepts
1156
1157 290
1158 00:19:45,480 ~-~-> 00:19:47,730
1159 work. Now when you start adding all these other components
1160
1161 291
1162 00:19:47,730 ~-~-> 00:19:51,600
1163 to it, it's like Voodoo, okay, it's it's amazing how this
1164
1165 292
1166 00:19:51,600 ~-~-> 00:19:54,870
1167 stuff works out. And you'll be you'll be pleasantly
1168
1169 293
1170 00:19:54,870 ~-~-> 00:19:58,230
1171 surprised once you start applying these concepts. Now when
1172
1173 294
1174 00:19:58,230 ~-~-> 00:20:01,680
1175 trading in the anticipated Weekly trend direction, you want
1176
1177 295
1178 00:20:01,680 ~-~-> 00:20:04,620
1179 to take some profits intraday, but do not show your stop
1180
1181 296
1182 00:20:04,620 ~-~-> 00:20:08,070
1183 loss too aggressively because if you do that, just in New
1184
1185 297
1186 00:20:08,070 ~-~-> 00:20:10,470
1187 York session alone, you've seen many times there's a deep
1188
1189 298
1190 00:20:10,470 ~-~-> 00:20:13,710
1191 retracement going into the swing that ensued in London open
1192
1193 299
1194 00:20:14,190 ~-~-> 00:20:17,850
1195 only to give an additional selling opportunity to go into
1196
1197 300
1198 00:20:17,850 ~-~-> 00:20:23,190
1199 London close. So you're going to need to learn to trust the
1200
1201 301
1202 00:20:23,190 ~-~-> 00:20:26,400
1203 fact that prices going up and down up and down in a natural
1204
1205 302
1206 00:20:26,400 ~-~-> 00:20:29,550
1207 ebb and flow of price action. It still will slide in the
1208
1209 303
1210 00:20:29,550 ~-~-> 00:20:33,780
1211 home around London close if there's not a market reversal
1212
1213 304
1214 00:20:33,780 ~-~-> 00:20:37,500
1215 profile, and we'll talk about that later on. But allowing
1216
1217 305
1218 00:20:37,830 ~-~-> 00:20:42,360
1219 the market room to move and not trail your stop loss so
1220
1221 306
1222 00:20:42,360 ~-~-> 00:20:45,750
1223 aggressively. This will permit your positions to remain open
1224
1225 307
1226 00:20:45,780 ~-~-> 00:20:47,760
1227 and not get stopped out prematurely without seeing your
1228
1229 308
1230 00:20:47,760 ~-~-> 00:20:48,300
1231 maximum
1232
1233 309
1234 00:20:49,230 ~-~-> 00:20:51,000
1235 price objectives fulfilled.
1236
1237 310
1238 00:20:55,230 ~-~-> 00:20:57,810
1239 All right, we've talked about the market maker profile.
1240
1241 311
1242 00:20:58,050 ~-~-> 00:21:00,000
1243 Okay, this is the ICT market maker profile.
1244
1245 312
1246 00:21:01,199 ~-~-> 00:21:02,039
1247 By model
1248
1249 313
1250 00:21:03,060 ~-~-> 00:21:05,910
1251 and my looking at this, okay, we've discussed how there's an
1252
1253 314
1254 00:21:05,910 ~-~-> 00:21:09,210
1255 accumulation phase in here. And then price starts to break
1256
1257 315
1258 00:21:09,210 ~-~-> 00:21:11,910
1259 out comes back up many times and retest, it doesn't have to
1260
1261 316
1262 00:21:11,910 ~-~-> 00:21:14,130
1263 do that. But it can give you another additional trade entry
1264
1265 317
1266 00:21:14,130 ~-~-> 00:21:16,800
1267 shortened here or reflection pattern and sells off goes
1268
1269 318
1270 00:21:16,800 ~-~-> 00:21:20,820
1271 down, makes a low, okay, and then reverses and gives you a
1272
1273 319
1274 00:21:20,820 ~-~-> 00:21:23,850
1275 breakout, maybe a retest or Apple trading sheet here to get
1276
1277 320
1278 00:21:23,850 ~-~-> 00:21:27,270
1279 in sync with that move. Once market structure is broken to
1280
1281 321
1282 00:21:27,270 ~-~-> 00:21:30,600
1283 the upside, and then you have another additional sometimes
1284
1285 322
1286 00:21:30,720 ~-~-> 00:21:33,690
1287 secondary position to get down long. And you're going to
1288
1289 323
1290 00:21:33,690 ~-~-> 00:21:36,630
1291 reach back for these previous consolidation where stops
1292
1293 324
1294 00:21:36,630 ~-~-> 00:21:40,080
1295 would be resting prior to these highs in here. And you see
1296
1297 325
1298 00:21:40,080 ~-~-> 00:21:45,750
1299 that unfolding this premise or understanding of how price
1300
1301 326
1302 00:21:45,810 ~-~-> 00:21:48,780
1303 swings, in other words, it's engineered to go lower to go
1304
1305 327
1306 00:21:48,780 ~-~-> 00:21:53,370
1307 higher. Okay. If you are an intraday trader this same
1308
1309 328
1310 00:21:53,550 ~-~-> 00:21:59,280
1311 premise to price action study repeats itself on an intraday
1312
1313 329
1314 00:21:59,280 ~-~-> 00:22:03,210
1315 scale. Okay, we've looked at higher timeframe models of this
1316
1317 330
1318 00:22:03,210 ~-~-> 00:22:07,020
1319 price action, okay, or this fractal pattern, but it also
1320
1321 331
1322 00:22:07,020 ~-~-> 00:22:10,230
1323 repeats itself on intraday price action, okay, and those
1324
1325 332
1326 00:22:10,230 ~-~-> 00:22:13,110
1327 that have been students on my work for last few years on
1328
1329 333
1330 00:22:13,110 ~-~-> 00:22:16,560
1331 baby pips should recognize this is very similar to my
1332
1333 334
1334 00:22:16,560 ~-~-> 00:22:20,880
1335 classic buy day for the London open. Now initially I did a
1336
1337 335
1338 00:22:22,170 ~-~-> 00:22:26,520
1339 London open video module, it was very, very brief. It had
1340
1341 336
1342 00:22:26,640 ~-~-> 00:22:30,420
1343 zero audio in it. Because I was really I'll be honest, it's
1344
1345 337
1346 00:22:30,420 ~-~-> 00:22:32,940
1347 I was reluctant in releasing some of this material until
1348
1349 338
1350 00:22:33,360 ~-~-> 00:22:36,810
1351 there was a lot more structure and education behind it all
1352
1353 339
1354 00:22:36,810 ~-~-> 00:22:39,270
1355 because I would have never been able to keep up with the
1356
1357 340
1358 00:22:39,810 ~-~-> 00:22:42,120
1359 level of emails and questions. What does this mean? What
1360
1361 341
1362 00:22:42,120 ~-~-> 00:22:45,420
1363 does that mean? So now I think that I have a lot of my
1364
1365 342
1366 00:22:45,420 ~-~-> 00:22:48,720
1367 foundational information presented already and available
1368
1369 343
1370 00:22:48,720 ~-~-> 00:22:52,350
1371 widely available on YouTube and baby Phipps. There's many
1372
1373 344
1374 00:22:52,350 ~-~-> 00:22:55,590
1375 resources you can go to to further educate yourself on what
1376
1377 345
1378 00:22:55,590 ~-~-> 00:23:00,000
1379 I'm referring to in this video module. Okay, so I knew doing
1380
1381 346
1382 00:23:00,000 ~-~-> 00:23:02,760
1383 it the first time it probably was going to be not as
1384
1385 347
1386 00:23:02,760 ~-~-> 00:23:05,490
1387 effective as I was hoped it would be. But I think this time
1388
1389 348
1390 00:23:05,490 ~-~-> 00:23:07,950
1391 around those that have seen the first one will agree that
1392
1393 349
1394 00:23:07,950 ~-~-> 00:23:11,220
1395 this is probably a far better approach to teaching the
1396
1397 350
1398 00:23:11,220 ~-~-> 00:23:16,590
1399 London open session with my tools. And obviously looking at
1400
1401 351
1402 00:23:16,590 ~-~-> 00:23:21,930
1403 the ICT cell model for the market maker profile. When we see
1404
1405 352
1406 00:23:21,930 ~-~-> 00:23:25,800
1407 price run up like this, this is a rally, okay? In other
1408
1409 353
1410 00:23:25,800 ~-~-> 00:23:29,610
1411 words, they engineer price up and then trades lower. So in
1412
1413 354
1414 00:23:29,610 ~-~-> 00:23:32,790
1415 other words, they make it go up to go lower. Okay, so
1416
1417 355
1418 00:23:33,660 ~-~-> 00:23:39,180
1419 there's a accumulation Okay, there is a rapid price
1420
1421 356
1422 00:23:39,210 ~-~-> 00:23:43,920
1423 increase, okay? And then you see a sell off and it goes back
1424
1425 357
1426 00:23:43,920 ~-~-> 00:23:46,200
1427 to the previous consolidation and or below.
1428
1429 358
1430 00:23:47,580 ~-~-> 00:23:49,230
1431 So let's take a look at
1432
1433 359
1434 00:23:50,790 ~-~-> 00:23:55,380
1435 what this looks like with price structure. Okay, now if
1436
1437 360
1438 00:23:55,380 ~-~-> 00:23:57,930
1439 we're going to be an intraday trader, and this charts are
1440
1441 361
1442 00:23:57,930 ~-~-> 00:24:00,660
1443 similar to the previous video module, okay. But it will
1444
1445 362
1446 00:24:00,660 ~-~-> 00:24:05,550
1447 allow me to teach the same premise because price action is
1448
1449 363
1450 00:24:05,580 ~-~-> 00:24:08,220
1451 price action. It doesn't matter if you're looking at a one
1452
1453 364
1454 00:24:08,220 ~-~-> 00:24:11,190
1455 minute chart, 15 minute chart daily, weekly, monthly doesn't
1456
1457 365
1458 00:24:11,190 ~-~-> 00:24:14,100
1459 matter, the same concepts hold true. There's going to be
1460
1461 366
1462 00:24:14,100 ~-~-> 00:24:16,470
1463 some things that we talked about in this video module is
1464
1465 367
1466 00:24:17,040 ~-~-> 00:24:20,700
1467 generically inherent with intraday trading because of the
1468
1469 368
1470 00:24:20,700 ~-~-> 00:24:23,940
1471 nature of that type, that type of trading. But by far and
1472
1473 369
1474 00:24:23,940 ~-~-> 00:24:26,730
1475 large, most of everything you're seeing here is just a
1476
1477 370
1478 00:24:27,030 ~-~-> 00:24:29,700
1479 compilation of all the things in the higher time frame apply
1480
1481 371
1482 00:24:29,700 ~-~-> 00:24:34,080
1483 to the smaller time frame. Let's assume we have this price
1484
1485 372
1486 00:24:34,080 ~-~-> 00:24:37,530
1487 structure here and this may be a daily chart, or it could be
1488
1489 373
1490 00:24:37,530 ~-~-> 00:24:40,560
1491 a four hour chart. Okay? But really, for day trading
1492
1493 374
1494 00:24:40,560 ~-~-> 00:24:44,250
1495 purposes, if you focus in on the daily, four hour, one hour,
1496
1497 375
1498 00:24:44,550 ~-~-> 00:24:50,940
1499 that's your universe for your foundational premise behind
1500
1501 376
1502 00:24:50,940 ~-~-> 00:24:54,600
1503 your directional bias. Okay, everybody sends me emails he
1504
1505 377
1506 00:24:54,600 ~-~-> 00:24:57,600
1507 talks about on the forums all the time. This is great.
1508
1509 378
1510 00:24:57,660 ~-~-> 00:25:00,420
1511 Michael, I see your videos is absolutely phenomenal. All the
1512
1513 379
1514 00:25:00,420 ~-~-> 00:25:04,140
1515 tools work so wonderful unless out of my chart, I've just
1516
1517 380
1518 00:25:04,140 ~-~-> 00:25:06,780
1519 been exposed to your work, and it's great. But here's the
1520
1521 381
1522 00:25:06,780 ~-~-> 00:25:09,270
1523 problem we're having. I'm looking at the chart on the hard
1524
1525 382
1526 00:25:09,270 ~-~-> 00:25:12,330
1527 right edge of my screen. I don't know where it's going to go
1528
1529 383
1530 00:25:12,330 ~-~-> 00:25:15,660
1531 from there. So you have to look on the left side of your
1532
1533 384
1534 00:25:15,660 ~-~-> 00:25:18,780
1535 chart guys. It sounds counterproductive, okay, because
1536
1537 385
1538 00:25:18,780 ~-~-> 00:25:21,840
1539 you're looking at what's already happened. But that tells
1540
1541 386
1542 00:25:21,840 ~-~-> 00:25:26,100
1543 you where price is trying to go. Okay? We've seen price
1544
1545 387
1546 00:25:26,190 ~-~-> 00:25:30,210
1547 obviously trade lower, okay, and the market structure breaks
1548
1549 388
1550 00:25:30,240 ~-~-> 00:25:34,560
1551 in here. Okay, once the price starts to retrace in here and
1552
1553 389
1554 00:25:34,560 ~-~-> 00:25:39,870
1555 rallies up, we have now a possible swing low forming, okay,
1556
1557 390
1558 00:25:39,870 ~-~-> 00:25:42,540
1559 this is a daily chart, or if you have an intermediate term
1560
1561 391
1562 00:25:42,540 ~-~-> 00:25:46,680
1563 low if this is a four hour chart, okay? Or it could be even
1564
1565 392
1566 00:25:46,680 ~-~-> 00:25:50,520
1567 a long term low. Okay, doesn't matter. Just understanding
1568
1569 393
1570 00:25:50,760 ~-~-> 00:25:53,910
1571 where we are in terms of price action. So if we see this
1572
1573 394
1574 00:25:54,000 ~-~-> 00:25:57,990
1575 example, let's say we're looking at a four hour chart, okay,
1576
1577 395
1578 00:25:58,320 ~-~-> 00:26:02,010
1579 maybe this is a four hour zoom. In and we've came down on a
1580
1581 396
1582 00:26:02,010 ~-~-> 00:26:06,450
1583 daily into a higher level support line. Okay, so this may be
1584
1585 397
1586 00:26:06,450 ~-~-> 00:26:10,440
1587 a big figure, okay be a mid figure, it could be a whole list
1588
1589 398
1590 00:26:10,440 ~-~-> 00:26:13,770
1591 of things, okay on a monthly high now traded back down to
1592
1593 399
1594 00:26:13,830 ~-~-> 00:26:18,000
1595 support but price comes down to it and simply because it
1596
1597 400
1598 00:26:18,000 ~-~-> 00:26:20,400
1599 trades to it, there's two ways of doing that if this is a
1600
1601 401
1602 00:26:20,400 ~-~-> 00:26:23,670
1603 higher timeframe, resistance and support level, okay, and
1604
1605 402
1606 00:26:23,670 ~-~-> 00:26:28,110
1607 we're expecting price to provide support here. We don't
1608
1609 403
1610 00:26:28,260 ~-~-> 00:26:32,160
1611 always just assume just buying because it gets to a level
1612
1613 404
1614 00:26:32,160 ~-~-> 00:26:34,470
1615 like that you can there's nothing wrong with that takes a
1616
1617 405
1618 00:26:34,470 ~-~-> 00:26:38,190
1619 lot of guts. But if you're willing to wait for price to give
1620
1621 406
1622 00:26:38,190 ~-~-> 00:26:42,960
1623 you clues, it may have in fact, assumed Long's in here about
1624
1625 407
1626 00:26:42,960 ~-~-> 00:26:45,480
1627 the smart money, wait for the market structure to break and
1628
1629 408
1630 00:26:45,480 ~-~-> 00:26:49,080
1631 you see that by swing high being broken here. Okay. So if
1632
1633 409
1634 00:26:49,080 ~-~-> 00:26:52,710
1635 you see a four hour break in market structure, and then you
1636
1637 410
1638 00:26:52,710 ~-~-> 00:26:56,670
1639 see the price retrace back down, you would expect to see it
1640
1641 411
1642 00:26:56,670 ~-~-> 00:26:59,490
1643 not go back down below this low. So you would see an optimal
1644
1645 412
1646 00:26:59,490 ~-~-> 00:27:02,220
1647 trade entry Here. So now obviously you would expect to see
1648
1649 413
1650 00:27:02,220 ~-~-> 00:27:05,940
1651 what to unfold higher prices. Okay? So from this point on
1652
1653 414
1654 00:27:05,970 ~-~-> 00:27:08,490
1655 what you're, what you're watching is you're watching market
1656
1657 415
1658 00:27:08,490 ~-~-> 00:27:10,950
1659 structure. Okay? You're watching how market structure
1660
1661 416
1662 00:27:10,950 ~-~-> 00:27:15,120
1663 unfolds, the swings, all these types of things that we've
1664
1665 417
1666 00:27:15,120 ~-~-> 00:27:19,050
1667 looked at in the higher timeframe just simply utilize here
1668
1669 418
1670 00:27:19,050 ~-~-> 00:27:26,760
1671 as well for our intraday daily premise, okay? Now by looking
1672
1673 419
1674 00:27:26,760 ~-~-> 00:27:29,010
1675 at price like that, okay, what we're going to be doing is
1676
1677 420
1678 00:27:29,010 ~-~-> 00:27:31,590
1679 we're going to be expecting anticipating highs and lows to
1680
1681 421
1682 00:27:31,590 ~-~-> 00:27:34,440
1683 be forming, okay? When this market structure break here
1684
1685 422
1686 00:27:34,440 ~-~-> 00:27:36,840
1687 happens and we have a shift in market structure to
1688
1689 423
1690 00:27:36,840 ~-~-> 00:27:42,210
1691 bullishness, okay. Again, assuming this is a nice support
1692
1693 424
1694 00:27:42,210 ~-~-> 00:27:47,130
1695 level, price comes down as an optimal trade entry. This low
1696
1697 425
1698 00:27:47,130 ~-~-> 00:27:49,710
1699 that forms the optimal trade entry in this little swing
1700
1701 426
1702 00:27:49,710 ~-~-> 00:27:54,150
1703 down. There's this could be the new day here. Okay, this
1704
1705 427
1706 00:27:54,150 ~-~-> 00:27:56,910
1707 could be the start of a new rate. There could be the new day
1708
1709 428
1710 00:27:57,390 ~-~-> 00:28:00,210
1711 and then we had this move lower. Do you understand as My
1712
1713 429
1714 00:28:00,210 ~-~-> 00:28:04,440
1715 Judas swing, when it dips down from that, initially, that's
1716
1717 430
1718 00:28:04,440 ~-~-> 00:28:07,410
1719 the move that you buy in London open, and you expect the
1720
1721 431
1722 00:28:07,410 ~-~-> 00:28:11,190
1723 daily range to fulfill gone to the upside. Okay? Same thing
1724
1725 432
1726 00:28:11,190 ~-~-> 00:28:14,010
1727 happens here, if we've seen price drop down lower in here,
1728
1729 433
1730 00:28:14,010 ~-~-> 00:28:18,330
1731 this could be a New York open market reversal
1732
1733 434
1734 00:28:19,619 ~-~-> 00:28:22,439
1735 and trade lower. And then this could be a new day here or it
1736
1737 435
1738 00:28:22,439 ~-~-> 00:28:25,769
1739 could be a new day rain here where we have the Asian range
1740
1741 436
1742 00:28:25,769 ~-~-> 00:28:29,729
1743 and then there's a dip down initial drop or Judas rally, I'm
1744
1745 437
1746 00:28:29,729 ~-~-> 00:28:32,459
1747 sorry, decline, setting up a buying opportunity and we'll
1748
1749 438
1750 00:28:32,459 ~-~-> 00:28:35,159
1751 talk about that as we go. But you want to be looking for
1752
1753 439
1754 00:28:35,159 ~-~-> 00:28:39,029
1755 opportunities to get in sync. Okay getting sync with this
1756
1757 440
1758 00:28:39,059 ~-~-> 00:28:42,149
1759 market structure that's bullish. Now when we have these very
1760
1761 441
1762 00:28:42,179 ~-~-> 00:28:47,189
1763 clean, discernible price legs like this price swings, this
1764
1765 442
1766 00:28:47,189 ~-~-> 00:28:50,429
1767 is an impulse move. Okay, when you see price run up like
1768
1769 443
1770 00:28:50,429 ~-~-> 00:28:53,249
1771 this, okay? You're going to expecting a retracement at some
1772
1773 444
1774 00:28:53,249 ~-~-> 00:28:56,099
1775 point. And when you start to see that unfold, you don't pull
1776
1777 445
1778 00:28:56,099 ~-~-> 00:28:59,729
1779 your fib from the low to the high and look for these obvious
1780
1781 446
1782 00:28:59,729 ~-~-> 00:29:03,449
1783 levels. of retracements Okay, now you can be a day trader,
1784
1785 447
1786 00:29:03,719 ~-~-> 00:29:07,229
1787 okay with market structure corrections, okay and
1788
1789 448
1790 00:29:07,229 ~-~-> 00:29:11,129
1791 retracements and be shorter you shorting in here and in here
1792
1793 449
1794 00:29:11,279 ~-~-> 00:29:14,279
1795 but never losing sight of where possibly disagree chasing
1796
1797 450
1798 00:29:14,279 ~-~-> 00:29:17,369
1799 deeper with this higher time frame for our market structure
1800
1801 451
1802 00:29:17,369 ~-~-> 00:29:19,799
1803 or it could be a daily market structure we're looking at
1804
1805 452
1806 00:29:19,799 ~-~-> 00:29:24,209
1807 here. So by having the higher time frame daily four hour and
1808
1809 453
1810 00:29:24,209 ~-~-> 00:29:27,929
1811 one hour charts up and mapping out price swings and where we
1812
1813 454
1814 00:29:27,929 ~-~-> 00:29:32,339
1815 are impossible levels of retracement using your fibs. This
1816
1817 455
1818 00:29:32,339 ~-~-> 00:29:36,539
1819 level could be an optimal trade entry by based on this low
1820
1821 456
1822 00:29:36,569 ~-~-> 00:29:39,839
1823 to high could be a 62% retracement level. Or if you use this
1824
1825 457
1826 00:29:39,839 ~-~-> 00:29:40,439
1827 low here
1828
1829 458
1830 00:29:40,530 ~-~-> 00:29:42,750
1831 on market structure to this high,
1832
1833 459
1834 00:29:42,810 ~-~-> 00:29:45,240
1835 this could be a 62 or even a sweet spot are you setting I'm
1836
1837 460
1838 00:29:45,240 ~-~-> 00:29:47,940
1839 setting tracing a level okay. So when we get to these
1840
1841 461
1842 00:29:47,940 ~-~-> 00:29:52,770
1843 levels, it could be starting to trade here in midnight time
1844
1845 462
1846 00:29:52,950 ~-~-> 00:29:55,770
1847 in New York and then you had that swing lower in the Judas.
1848
1849 463
1850 00:29:56,220 ~-~-> 00:29:59,670
1851 Okay and it comes right down, blows out an old bow comes
1852
1853 464
1854 00:29:59,670 ~-~-> 00:30:03,900
1855 down in Maybe even find support like we'd see here. And then
1856
1857 465
1858 00:30:03,900 ~-~-> 00:30:06,780
1859 this is your London open buy to get in sync with a higher
1860
1861 466
1862 00:30:06,780 ~-~-> 00:30:09,420
1863 time frame premise and you would let your profits run going
1864
1865 467
1866 00:30:09,420 ~-~-> 00:30:12,600
1867 towards you know, higher prices going into New York open in
1868
1869 468
1870 00:30:12,600 ~-~-> 00:30:15,240
1871 London close and respectively. Maybe if you're going to hold
1872
1873 469
1874 00:30:15,240 ~-~-> 00:30:18,540
1875 it overnight, this is why you would do it. Okay, maybe not
1876
1877 470
1878 00:30:18,540 ~-~-> 00:30:21,810
1879 so much holding on long and here overnight because you're
1880
1881 471
1882 00:30:22,140 ~-~-> 00:30:25,320
1883 expecting a deeper retracement. But all the things we
1884
1885 472
1886 00:30:25,320 ~-~-> 00:30:27,240
1887 learned in the high timeframe and market structure in other
1888
1889 473
1890 00:30:27,240 ~-~-> 00:30:32,160
1891 videos, all those things culminate with intraday price
1892
1893 474
1894 00:30:32,160 ~-~-> 00:30:35,820
1895 action and utilizing these higher timeframe premises in
1896
1897 475
1898 00:30:35,820 ~-~-> 00:30:45,300
1899 intraday action. Now, the easiest, most sweetest setups come
1900
1901 476
1902 00:30:45,330 ~-~-> 00:30:48,300
1903 when you trade between intermediate term and higher
1904
1905 477
1906 00:30:48,300 ~-~-> 00:30:52,980
1907 timeframe, long term price swings, and those being the blue
1908
1909 478
1910 00:30:52,980 ~-~-> 00:30:57,060
1911 circles here. Okay, and we've talked about this in the
1912
1913 479
1914 00:30:57,060 ~-~-> 00:30:59,700
1915 previous video module, so I'm not going to go over what
1916
1917 480
1918 00:30:59,700 ~-~-> 00:31:05,130
1919 these are Do some study guys go and research this okay, but
1920
1921 481
1922 00:31:05,130 ~-~-> 00:31:09,330
1923 the enemy term lows in here if we trade off of the term low
1924
1925 482
1926 00:31:09,930 ~-~-> 00:31:14,250
1927 and get long only trading one and open Long's expecting you
1928
1929 483
1930 00:31:14,250 ~-~-> 00:31:19,770
1931 to swings lower okay? trading becomes absolutely easy you
1932
1933 484
1934 00:31:19,770 ~-~-> 00:31:23,040
1935 know what you're looking for, you know your overall premise
1936
1937 485
1938 00:31:23,070 ~-~-> 00:31:26,310
1939 is to be expecting bullish prices. Okay so now what do we
1940
1941 486
1942 00:31:26,310 ~-~-> 00:31:31,740
1943 do? We apply the concepts that we learned in how to capture
1944
1945 487
1946 00:31:31,740 ~-~-> 00:31:35,160
1947 explosive price moves in the Forex market video module where
1948
1949 488
1950 00:31:35,160 ~-~-> 00:31:40,920
1951 I teach that between Sunday's opening and Tuesday's London
1952
1953 489
1954 00:31:40,920 ~-~-> 00:31:44,190
1955 open there's a high probability of the weekly higher low to
1956
1957 490
1958 00:31:44,190 ~-~-> 00:31:48,060
1959 form by Tuesdays on an open okay if it doesn't form by
1960
1961 491
1962 00:31:48,480 ~-~-> 00:31:51,060
1963 Tuesdays London open generally between Tuesday and
1964
1965 492
1966 00:31:51,060 ~-~-> 00:31:55,410
1967 Wednesdays London open the weekly range high or low will
1968
1969 493
1970 00:31:55,410 ~-~-> 00:31:58,290
1971 establish itself. Okay, so now think about this. Let's
1972
1973 494
1974 00:31:58,290 ~-~-> 00:32:00,780
1975 assume for a moment we've mapped out This is a higher time
1976
1977 495
1978 00:32:00,780 ~-~-> 00:32:03,570
1979 frame support level, we had market structure shift here,
1980
1981 496
1982 00:32:03,780 ~-~-> 00:32:05,820
1983 price comes down the optimal trade entry, we're in a bullish
1984
1985 497
1986 00:32:05,820 ~-~-> 00:32:09,240
1987 leg. Okay? Every time price comes down, we're still
1988
1989 498
1990 00:32:09,240 ~-~-> 00:32:13,680
1991 expecting price to provide us a buying opportunity. Okay?
1992
1993 499
1994 00:32:14,130 ~-~-> 00:32:17,820
1995 Now, what are we looking for going up? Well, obviously we
1996
1997 500
1998 00:32:17,820 ~-~-> 00:32:20,670
1999 had this price like here from this high down to this low to
2000
2001 501
2002 00:32:20,670 ~-~-> 00:32:22,980
2003 contentment, this is the range that we're trading within.
2004
2005 502
2006 00:32:23,310 ~-~-> 00:32:25,680
2007 Okay, so you have to have your fibs pulled up. And this is
2008
2009 503
2010 00:32:25,680 ~-~-> 00:32:28,470
2011 going to be your 79 or 62, or even sweetspot, based on the
2012
2013 504
2014 00:32:28,470 ~-~-> 00:32:33,240
2015 swing from here to here. But also notice there's a smaller
2016
2017 505
2018 00:32:33,780 ~-~-> 00:32:39,780
2019 wave in price action from here to here. So you have your
2020
2021 506
2022 00:32:39,780 ~-~-> 00:32:42,780
2023 range from this high, down to this low. So when price gets
2024
2025 507
2026 00:32:42,780 ~-~-> 00:32:46,350
2027 up to around that 62 to 79% tracing level on here, that may
2028
2029 508
2030 00:32:46,350 ~-~-> 00:32:51,030
2031 be a reason to be more cautious taking London open buy
2032
2033 509
2034 00:32:51,030 ~-~-> 00:32:55,980
2035 signals, okay. So, using the inside the range concepts we
2036
2037 510
2038 00:32:55,980 ~-~-> 00:32:58,950
2039 learned earlier in the year in the webinar, okay, the same
2040
2041 511
2042 00:32:58,950 ~-~-> 00:33:01,500
2043 premise holds true here. You still have to look at your
2044
2045 512
2046 00:33:01,500 ~-~-> 00:33:04,800
2047 previous price swings and how they map out. You can build
2048
2049 513
2050 00:33:04,800 ~-~-> 00:33:07,650
2051 your premise based on that just simply just doing this alone
2052
2053 514
2054 00:33:08,070 ~-~-> 00:33:11,430
2055 will give you high odds probabilities to base your trading
2056
2057 515
2058 00:33:11,430 ~-~-> 00:33:13,740
2059 on. So now think about what we've done we've established a
2060
2061 516
2062 00:33:13,740 ~-~-> 00:33:18,120
2063 premise that expect bullish prices based on the market shift
2064
2065 517
2066 00:33:18,210 ~-~-> 00:33:21,780
2067 and structure here. So when this move went above this
2068
2069 518
2070 00:33:21,780 ~-~-> 00:33:24,330
2071 previous swing high here and start to retrace is an awful
2072
2073 519
2074 00:33:24,330 ~-~-> 00:33:26,610
2075 trade entry and starts to trade higher, we have confirmation
2076
2077 520
2078 00:33:26,610 ~-~-> 00:33:29,400
2079 that we are in a bullish leg, okay, now market structure is
2080
2081 521
2082 00:33:29,400 ~-~-> 00:33:32,700
2083 bullish. Okay. At this point here, market flow on all
2084
2085 522
2086 00:33:32,700 ~-~-> 00:33:36,600
2087 timeframes probably will be, you know, going up going up. So
2088
2089 523
2090 00:33:36,600 ~-~-> 00:33:39,360
2091 it makes trading easy now, you just simply wait for the
2092
2093 524
2094 00:33:39,360 ~-~-> 00:33:42,510
2095 setups to unfold in London open and if you're in New York
2096
2097 525
2098 00:33:42,510 ~-~-> 00:33:44,610
2099 open trader, I'll toss this and just wait for your buy
2100
2101 526
2102 00:33:44,610 ~-~-> 00:33:48,570
2103 signals in here as well. Okay. But looking at how price
2104
2105 527
2106 00:33:48,570 ~-~-> 00:33:52,770
2107 trades at the London open, we would expect to see price drop
2108
2109 528
2110 00:33:52,770 ~-~-> 00:33:58,200
2111 down, okay, out of the Asian range, or if it breaks out
2112
2113 529
2114 00:33:58,200 ~-~-> 00:34:01,080
2115 initially if it trades back down into the range look to
2116
2117 530
2118 00:34:01,080 ~-~-> 00:34:03,270
2119 trade optimal trade entries wallets inside the Asian range.
2120
2121 531
2122 00:34:03,270 ~-~-> 00:34:06,210
2123 And we'll look more about that and when we have the actual
2124
2125 532
2126 00:34:06,330 ~-~-> 00:34:07,410
2127 diagrams and such.
2128
2129 533
2130 00:34:08,490 ~-~-> 00:34:09,030
2131 But
2132
2133 534
2134 00:34:10,110 ~-~-> 00:34:12,960
2135 if we are trading with that premise, it's bullish,
2136
2137 535
2138 00:34:13,860 ~-~-> 00:34:14,910
2139 and it's Sunday.
2140
2141 536
2142 00:34:15,689 ~-~-> 00:34:20,039
2143 What's your homework, hopefully, leading up to that we're
2144
2145 537
2146 00:34:20,039 ~-~-> 00:34:22,769
2147 probably going to see the low the weak form by Tuesday.
2148
2149 538
2150 00:34:23,429 ~-~-> 00:34:27,749
2151 Okay, so if you're really capable of trading the London
2152
2153 539
2154 00:34:27,749 ~-~-> 00:34:32,279
2155 open, and you can sit down and be a part of Monday's London
2156
2157 540
2158 00:34:32,279 ~-~-> 00:34:35,729
2159 open or Tuesday's long and open if you have that capability
2160
2161 541
2162 00:34:35,729 ~-~-> 00:34:40,709
2163 to do that timewise and it fits your lifestyle. Many times
2164
2165 542
2166 00:34:40,709 ~-~-> 00:34:43,169
2167 you can actually end up buying the low of the week. And I
2168
2169 543
2170 00:34:43,169 ~-~-> 00:34:47,729
2171 can tell you, that's absolutely mind blowing when you look
2172
2173 544
2174 00:34:47,729 ~-~-> 00:34:50,939
2175 at how many times it can be done. And even if you get a
2176
2177 545
2178 00:34:50,939 ~-~-> 00:34:53,909
2179 small portion of the weekly range, okay, if the average
2180
2181 546
2182 00:34:53,909 ~-~-> 00:34:59,189
2183 daily range is 100 pips, the weekly average range could be
2184
2185 547
2186 00:34:59,189 ~-~-> 00:35:01,979
2187 several hundred pips. So if you get, you know, small portion
2188
2189 548
2190 00:35:01,979 ~-~-> 00:35:06,149
2191 of that, you can look at anywhere between 150 to 300 pips,
2192
2193 549
2194 00:35:06,179 ~-~-> 00:35:10,769
2195 you know, as a potential pitfall. So, even though we're
2196
2197 550
2198 00:35:11,819 ~-~-> 00:35:14,939
2199 specifically talking about day trading here, I want you to
2200
2201 551
2202 00:35:14,939 ~-~-> 00:35:17,639
2203 use these concepts to kind of broaden your perspective and
2204
2205 552
2206 00:35:17,639 ~-~-> 00:35:20,219
2207 say, Hey, I can use these concepts really to get in sync
2208
2209 553
2210 00:35:20,219 ~-~-> 00:35:24,599
2211 with these higher timeframe trades, and not, you know, exit
2212
2213 554
2214 00:35:24,599 ~-~-> 00:35:27,929
2215 the trades too prematurely and allow my new trades to pay me
2216
2217 555
2218 00:35:27,929 ~-~-> 00:35:28,259
2219 more.
2220
2221 556
2222 00:35:34,110 ~-~-> 00:35:37,950
2223 Alright, so now thinking with this premise in mind, if we're
2224
2225 557
2226 00:35:37,950 ~-~-> 00:35:44,310
2227 bullish, okay, this could be a one hour chart. Okay. We're
2228
2229 558
2230 00:35:44,310 ~-~-> 00:35:48,330
2231 looking at a possible bullish move going higher. We've seen
2232
2233 559
2234 00:35:48,330 ~-~-> 00:35:53,010
2235 price trading lower. Okay. Now, if the previous chart shows
2236
2237 560
2238 00:35:53,130 ~-~-> 00:35:56,340
2239 that market structure shift bullishness, if we zoom down to
2240
2241 561
2242 00:35:56,340 ~-~-> 00:35:58,500
2243 a one hour chart, we can actually start seeing smaller swing
2244
2245 562
2246 00:35:58,500 ~-~-> 00:36:01,530
2247 highs. Okay, that would be You know, assume that we have
2248
2249 563
2250 00:36:01,530 ~-~-> 00:36:03,900
2251 this higher time frame support level. If that market
2252
2253 564
2254 00:36:03,900 ~-~-> 00:36:06,510
2255 structure breaks here on the hourly basis on a smaller short
2256
2257 565
2258 00:36:06,510 ~-~-> 00:36:13,320
2259 term, we can start seeing more time sensitive price swings,
2260
2261 566
2262 00:36:13,350 ~-~-> 00:36:18,030
2263 okay? And prices still gonna swing, you know, based on price
2264
2265 567
2266 00:36:18,030 ~-~-> 00:36:20,310
2267 action, okay? You're not going to, you know, change where
2268
2269 568
2270 00:36:20,310 ~-~-> 00:36:20,940
2271 it's going to go.
2272
2273 569
2274 00:36:21,330 ~-~-> 00:36:22,590
2275 But your perspective on
2276
2277 570
2278 00:36:22,680 ~-~-> 00:36:26,670
2279 looking at it, okay? can be really skewed based on the
2280
2281 571
2282 00:36:26,670 ~-~-> 00:36:29,100
2283 timeframe you're looking at. So if we're looking at just
2284
2285 572
2286 00:36:29,100 ~-~-> 00:36:34,020
2287 simply this high to this low, this could have been long you
2288
2289 573
2290 00:36:34,020 ~-~-> 00:36:37,140
2291 into believing this could be a sell off, okay? Our optimal
2292
2293 574
2294 00:36:37,140 ~-~-> 00:36:40,950
2295 trade entry sell, but having that higher time frame premise
2296
2297 575
2298 00:36:40,950 ~-~-> 00:36:43,920
2299 in mind, and this is being a higher level key support level,
2300
2301 576
2302 00:36:44,100 ~-~-> 00:36:46,920
2303 okay, that we talked about earlier. The premise is that
2304
2305 577
2306 00:36:46,920 ~-~-> 00:36:50,340
2307 we're expecting market structure to shift the bullishness,
2308
2309 578
2310 00:36:50,550 ~-~-> 00:36:53,250
2311 okay, so every time we see a retracement, all that's going
2312
2313 579
2314 00:36:53,250 ~-~-> 00:36:56,190
2315 to do is likely set up a new buying opportunity. So every
2316
2317 580
2318 00:36:56,190 ~-~-> 00:36:59,340
2319 time price creates a new range, we just run our fit from
2320
2321 581
2322 00:36:59,340 ~-~-> 00:37:01,650
2323 that and look for the To send nice Chase Mobile optimal
2324
2325 582
2326 00:37:01,650 ~-~-> 00:37:05,160
2327 trade entries, okay? Obviously you would be looking for
2328
2329 583
2330 00:37:05,580 ~-~-> 00:37:08,850
2331 reflections as well, this could be a very reflection is this
2332
2333 584
2334 00:37:08,940 ~-~-> 00:37:13,410
2335 low in here down to this low here could present an optimal
2336
2337 585
2338 00:37:13,410 ~-~-> 00:37:16,830
2339 trade entry. Yes here, but it could also be reflection as
2340
2341 586
2342 00:37:16,830 ~-~-> 00:37:19,500
2343 well. So don't just think in terms of you always have to
2344
2345 587
2346 00:37:19,500 ~-~-> 00:37:22,080
2347 have the optimal trade entry. It's the easiest one I teach,
2348
2349 588
2350 00:37:22,110 ~-~-> 00:37:27,870
2351 but other patterns like you could have ICT Grail in here,
2352
2353 589
2354 00:37:28,260 ~-~-> 00:37:31,260
2355 tied to trend following. It could be a stinger in here,
2356
2357 590
2358 00:37:31,770 ~-~-> 00:37:35,850
2359 okay, all these types of patterns. Now, you know, if you
2360
2361 591
2362 00:37:35,850 ~-~-> 00:37:37,590
2363 have this higher time frame premise and when you start
2364
2365 592
2366 00:37:37,590 ~-~-> 00:37:40,230
2367 looking for these patterns to unfold with that directional
2368
2369 593
2370 00:37:40,230 ~-~-> 00:37:45,660
2371 premise, okay, so having that unfold on an hourly basis, and
2372
2373 594
2374 00:37:45,660 ~-~-> 00:37:48,720
2375 having your dynamic support resistance levels carried from
2376
2377 595
2378 00:37:48,720 ~-~-> 00:37:51,570
2379 the higher time frame down to these shorter time frames, you
2380
2381 596
2382 00:37:51,570 ~-~-> 00:37:57,060
2383 can expect more clear support clears price swings based on
2384
2385 597
2386 00:37:57,060 ~-~-> 00:38:02,910
2387 the hourly chart your week. management of price swings intra
2388
2389 598
2390 00:38:02,910 ~-~-> 00:38:06,480
2391 week should be focused on the one hour timeframe. So once
2392
2393 599
2394 00:38:06,480 ~-~-> 00:38:10,170
2395 you arrive based on the daily and four hour charts, you can
2396
2397 600
2398 00:38:10,170 ~-~-> 00:38:12,480
2399 really work the rest of the week off of an hourly chart,
2400
2401 601
2402 00:38:12,690 ~-~-> 00:38:15,180
2403 just using support resistance off that and measuring swings
2404
2405 602
2406 00:38:15,240 ~-~-> 00:38:18,270
2407 using your fibs. But when you enter the trades, when you
2408
2409 603
2410 00:38:18,270 ~-~-> 00:38:20,310
2411 take action, and you're actually part of the trades, you
2412
2413 604
2414 00:38:20,310 ~-~-> 00:38:23,550
2415 manage those trades on a 15 minute timeframe. Okay, so have
2416
2417 605
2418 00:38:23,550 ~-~-> 00:38:27,060
2419 that in your notes. I know you're probably saying Why didn't
2420
2421 606
2422 00:38:27,060 ~-~-> 00:38:29,160
2423 you give me a screen shot with all this stuff written down,
2424
2425 607
2426 00:38:29,160 ~-~-> 00:38:32,010
2427 it's so much easier just to cut and paste now. Keep yourself
2428
2429 608
2430 00:38:32,010 ~-~-> 00:38:35,310
2431 a log, keep yourself a journal, make, make your own notes,
2432
2433 609
2434 00:38:35,340 ~-~-> 00:38:38,430
2435 okay, if you write it down, you have a more higher chance of
2436
2437 610
2438 00:38:38,430 ~-~-> 00:38:41,670
2439 remembering it versus me just talking about it. Okay. So
2440
2441 611
2442 00:38:41,670 ~-~-> 00:38:44,730
2443 again, you're looking at the daily and four hour looking for
2444
2445 612
2446 00:38:44,730 ~-~-> 00:38:46,890
2447 market structure to break into higher timeframe directional
2448
2449 613
2450 00:38:46,890 ~-~-> 00:38:51,390
2451 premise, where's price trying to reach Okay. Then once you
2452
2453 614
2454 00:38:51,390 ~-~-> 00:38:55,500
2455 have a market structure break, okay, it makes the trading
2456
2457 615
2458 00:38:55,500 ~-~-> 00:38:58,230
2459 very easy for you in terms of directional premise because
2460
2461 616
2462 00:38:58,230 ~-~-> 00:39:00,600
2463 that's the direction you're gonna want to trade in. Based on
2464
2465 617
2466 00:39:00,600 ~-~-> 00:39:03,570
2467 the daily and indoor four hour, the four hour is going to be
2468
2469 618
2470 00:39:03,570 ~-~-> 00:39:07,680
2471 much more sensitive. So if you have a little bit firmer
2472
2473 619
2474 00:39:07,680 ~-~-> 00:39:09,840
2475 understanding of price action, you could probably just live
2476
2477 620
2478 00:39:09,840 ~-~-> 00:39:13,710
2479 on the four hour. But also make sure that you don't forget,
2480
2481 621
2482 00:39:13,710 ~-~-> 00:39:16,470
2483 there's probably daily support resistance and weekly support
2484
2485 622
2486 00:39:16,470 ~-~-> 00:39:19,860
2487 resistance and monthly even support and resistance that may
2488
2489 623
2490 00:39:19,860 ~-~-> 00:39:22,380
2491 be a factor that you still have to contend with. So we're
2492
2493 624
2494 00:39:22,380 ~-~-> 00:39:28,350
2495 not negating to you the benefit of having a hard time frame
2496
2497 625
2498 00:39:28,350 ~-~-> 00:39:31,650
2499 top down analysis. But if you're just starting off and you
2500
2501 626
2502 00:39:31,650 ~-~-> 00:39:34,200
2503 just want to get in here and start chasing action, this is,
2504
2505 627
2506 00:39:34,230 ~-~-> 00:39:37,380
2507 you know, obviously I can do it a deal in four hour. But
2508
2509 628
2510 00:39:37,380 ~-~-> 00:39:40,020
2511 once you have your directional premise based on those are
2512
2513 629
2514 00:39:40,020 ~-~-> 00:39:43,890
2515 timeframes you live on the daily chart, I'm sorry that the
2516
2517 630
2518 00:39:43,890 ~-~-> 00:39:47,940
2519 60 minute chart for your intra week swings is watching the
2520
2521 631
2522 00:39:47,940 ~-~-> 00:39:51,240
2523 one hour chart and then watch how price swings within that
2524
2525 632
2526 00:39:51,270 ~-~-> 00:39:55,200
2527 timeframe. But if you enter the trades, you manage them on a
2528
2529 633
2530 00:39:55,200 ~-~-> 00:39:57,750
2531 15 minute timeframe. Okay, you managed to trade on a 15
2532
2533 634
2534 00:39:57,750 ~-~-> 00:40:01,440
2535 minute chart and that's because If you are at some point
2536
2537 635
2538 00:40:01,440 ~-~-> 00:40:03,600
2539 going to move your stop loss and trail it you want to be
2540
2541 636
2542 00:40:03,600 ~-~-> 00:40:09,090
2543 using the previous two swing lows prior to where price price
2544
2545 637
2546 00:40:09,090 ~-~-> 00:40:12,420
2547 is trading at now for instance say we're here and we saw a
2548
2549 638
2550 00:40:12,420 ~-~-> 00:40:15,660
2551 price run up and blow out these highs are long. Here's a
2552
2553 639
2554 00:40:15,660 ~-~-> 00:40:18,960
2555 swing low and here's a swing low and assuming as a 15 minute
2556
2557 640
2558 00:40:18,960 ~-~-> 00:40:22,110
2559 chart no no no I mean probably be confusing you talking
2560
2561 641
2562 00:40:22,110 ~-~-> 00:40:25,050
2563 about different timeframes but just go back over the video
2564
2565 642
2566 00:40:25,230 ~-~-> 00:40:29,430
2567 just rewind it okay but this this low and this low here is
2568
2569 643
2570 00:40:29,430 ~-~-> 00:40:32,910
2571 to swing lows prior to current price action so assuming
2572
2573 644
2574 00:40:33,150 ~-~-> 00:40:36,270
2575 price is trading here breaking out above these highs here
2576
2577 645
2578 00:40:36,270 ~-~-> 00:40:40,020
2579 more long something back here or even here. This swing low
2580
2581 646
2582 00:40:40,020 ~-~-> 00:40:43,860
2583 and this swing low are the last two swing lows it most
2584
2585 647
2586 00:40:43,860 ~-~-> 00:40:47,550
2587 recently formed. My trailing stop loss will be to 10 pips
2588
2589 648
2590 00:40:47,550 ~-~-> 00:40:50,130
2591 below this low here. Okay, so in other words, I'm managing
2592
2593 649
2594 00:40:50,130 ~-~-> 00:40:55,920
2595 my long with a stop 10 pips below the second most recent
2596
2597 650
2598 00:40:55,920 ~-~-> 00:40:59,850
2599 swing low, okay, and obviously just reversing it soon
2600
2601 651
2602 00:40:59,850 ~-~-> 00:41:04,080
2603 enough. We got short back in here, okay, and prices now
2604
2605 652
2606 00:41:04,110 ~-~-> 00:41:07,800
2607 breaking down here below this low, this is one swing
2608
2609 653
2610 00:41:08,010 ~-~-> 00:41:08,520
2611 low
2612
2613 654
2614 00:41:09,539 ~-~-> 00:41:12,359
2615 and this swing low here now the the caveat is is you got to
2616
2617 655
2618 00:41:12,359 ~-~-> 00:41:15,749
2619 have a higher swing low than the first one. So this one
2620
2621 656
2622 00:41:15,749 ~-~-> 00:41:20,669
2623 would not be considered this swing high in this swing high.
2624
2625 657
2626 00:41:20,849 ~-~-> 00:41:23,669
2627 This is your second one back it's worse as prices moving in
2628
2629 658
2630 00:41:23,669 ~-~-> 00:41:26,429
2631 your favor on a 15 minute timeframe, I would look for the
2632
2633 659
2634 00:41:26,429 ~-~-> 00:41:30,119
2635 most recent swing high on a 15 minute basis if I'm short and
2636
2637 660
2638 00:41:30,119 ~-~-> 00:41:32,999
2639 then go back and find the higher swing high than that on a
2640
2641 661
2642 00:41:32,999 ~-~-> 00:41:36,749
2643 15 minute basis and I would trail my stop loss 15 pips, I'm
2644
2645 662
2646 00:41:36,749 ~-~-> 00:41:39,629
2647 sorry 10 pips above that, okay, so my stop would be above
2648
2649 663
2650 00:41:39,629 ~-~-> 00:41:42,779
2651 here and I would continue to do that as price trades lower.
2652
2653 664
2654 00:41:42,869 ~-~-> 00:41:45,659
2655 Okay, so in this case, once we break this low here, trading
2656
2657 665
2658 00:41:45,659 ~-~-> 00:41:50,009
2659 right into that support, this would be the swing high and
2660
2661 666
2662 00:41:50,009 ~-~-> 00:41:51,899
2663 then the previous swing high. So this is the most recent
2664
2665 667
2666 00:41:51,899 ~-~-> 00:41:54,959
2667 swing high at this point here. So it'd be 10 pips above
2668
2669 668
2670 00:41:54,959 ~-~-> 00:41:57,599
2671 this. You can see even though this is a crude diagram and
2672
2673 669
2674 00:41:57,599 ~-~-> 00:42:00,629
2675 drawing, check out price action on you Some of the moves
2676
2677 670
2678 00:42:00,629 ~-~-> 00:42:03,269
2679 that's recently happened and use a 15 minute timeframe and
2680
2681 671
2682 00:42:03,269 ~-~-> 00:42:06,389
2683 you'll see that many times it keeps you in the trade. So
2684
2685 672
2686 00:42:07,229 ~-~-> 00:42:09,749
2687 that's how we break our charts down. That's the timeframe.
2688
2689 673
2690 00:42:10,139 ~-~-> 00:42:13,259
2691 Use usage and utilization, how we look from the higher time
2692
2693 674
2694 00:42:13,259 ~-~-> 00:42:15,659
2695 frame down to the lower timeframe and we would look for the
2696
2697 675
2698 00:42:15,809 ~-~-> 00:42:18,689
2699 one hour chart to create its own support resistance as well.
2700
2701 676
2702 00:42:19,139 ~-~-> 00:42:22,529
2703 Okay, and then obviously looking for upside objectives based
2704
2705 677
2706 00:42:22,529 ~-~-> 00:42:27,839
2707 on swings on the one hour chart and 15 minute chart. Okay,
2708
2709 678
2710 00:42:27,869 ~-~-> 00:42:30,269
2711 so when your fibs on these swings here for getting
2712
2713 679
2714 00:42:30,269 ~-~-> 00:42:32,309
2715 extensions and fit expansions
2716
2717 680
2718 00:42:33,630 ~-~-> 00:42:34,560
2719 will serve you well.
2720
2721 681
2722 00:42:41,430 ~-~-> 00:42:46,980
2723 Okay, we are looking at what you see typically unfold in
2724
2725 682
2726 00:42:47,220 ~-~-> 00:42:52,890
2727 London open. Alright, we're looking at a price move here.
2728
2729 683
2730 00:42:53,280 ~-~-> 00:42:59,010
2731 Okay, we have an Asian range and we'll see typically a
2732
2733 684
2734 00:42:59,010 ~-~-> 00:43:02,280
2735 initial pop up out of the Asian range as a fake out this is
2736
2737 685
2738 00:43:02,280 ~-~-> 00:43:06,870
2739 when they tag the pending orders for those that may be
2740
2741 686
2742 00:43:06,870 ~-~-> 00:43:10,560
2743 short. They'll take those individuals out and those that
2744
2745 687
2746 00:43:10,560 ~-~-> 00:43:13,200
2747 want to be long on a breakout system, okay, they'll run the
2748
2749 688
2750 00:43:13,200 ~-~-> 00:43:15,510
2751 market up here and trip those individuals into the market
2752
2753 689
2754 00:43:16,020 ~-~-> 00:43:18,750
2755 because that will create a pocket of liquidity. Okay,
2756
2757 690
2758 00:43:18,750 ~-~-> 00:43:21,180
2759 dealers will take it up there, they'll fill it, okay, and
2760
2761 691
2762 00:43:21,180 ~-~-> 00:43:24,060
2763 then they'll trade it lower. Okay, this is the engineered
2764
2765 692
2766 00:43:24,480 ~-~-> 00:43:28,650
2767 price decline. Okay, now think what was going on over here?
2768
2769 693
2770 00:43:28,830 ~-~-> 00:43:31,740
2771 price has been rallying. Okay, if we're in a bullish market
2772
2773 694
2774 00:43:31,740 ~-~-> 00:43:34,980
2775 structure, okay. Don't think just simply because we're
2776
2777 695
2778 00:43:34,980 ~-~-> 00:43:38,160
2779 falling out of bed in London opens early session, and that's
2780
2781 696
2782 00:43:38,160 ~-~-> 00:43:41,490
2783 not going to always equate to it's going you know, straight
2784
2785 697
2786 00:43:41,490 ~-~-> 00:43:45,720
2787 to Hades in think about price action when it's going lower.
2788
2789 698
2790 00:43:46,350 ~-~-> 00:43:49,470
2791 Okay, it's going to go lower to make a low and then trade
2792
2793 699
2794 00:43:49,470 ~-~-> 00:43:52,410
2795 higher. Okay. So this is the price engineering that takes
2796
2797 700
2798 00:43:52,410 ~-~-> 00:43:52,920
2799 place.
2800
2801 701
2802 00:43:54,300 ~-~-> 00:43:55,020
2803 Over here,
2804
2805 702
2806 00:43:55,710 ~-~-> 00:43:58,890
2807 this low back here, maybe a previous day's low, it could be
2808
2809 703
2810 00:43:58,890 ~-~-> 00:44:04,590
2811 a previous week's low It could be a higher time frame
2812
2813 704
2814 00:44:04,590 ~-~-> 00:44:07,800
2815 support resistance level, it could be a trinity level, it
2816
2817 705
2818 00:44:07,800 ~-~-> 00:44:13,410
2819 could be pivots, it could be a whole list of things that
2820
2821 706
2822 00:44:14,340 ~-~-> 00:44:17,940
2823 caused the price as in price action to rally up from that
2824
2825 707
2826 00:44:17,940 ~-~-> 00:44:22,590
2827 point. But you would run your fib from this point here to
2828
2829 708
2830 00:44:22,590 ~-~-> 00:44:26,400
2831 the highest high, either inside of this day, or whatever
2832
2833 709
2834 00:44:26,400 ~-~-> 00:44:29,250
2835 high it's formed here. And you would pull that fib here and
2836
2837 710
2838 00:44:29,250 ~-~-> 00:44:32,100
2839 then you would look for optimal trade entry to pull back
2840
2841 711
2842 00:44:32,100 ~-~-> 00:44:37,710
2843 into as the Judas swing breaks down. That's how you time
2844
2845 712
2846 00:44:37,710 ~-~-> 00:44:41,670
2847 your London open buys. assuming you're having a bullish
2848
2849 713
2850 00:44:41,670 ~-~-> 00:44:44,790
2851 market structure and everything expected to go higher. This
2852
2853 714
2854 00:44:44,790 ~-~-> 00:44:48,960
2855 level here needs to have something associated with it. Okay,
2856
2857 715
2858 00:44:49,470 ~-~-> 00:44:52,590
2859 words when you see the fib from the low to here. In other
2860
2861 716
2862 00:44:52,590 ~-~-> 00:44:54,660
2863 words, this price swing up here, we're trading inside the
2864
2865 717
2866 00:44:54,660 ~-~-> 00:44:58,890
2867 range. Okay, so as price starts to retrace, we're trading
2868
2869 718
2870 00:44:58,890 ~-~-> 00:45:03,030
2871 within discernable range. low to high or higher highs over
2872
2873 719
2874 00:45:03,030 ~-~-> 00:45:06,750
2875 here in this example the previous highs, this is a little
2876
2877 720
2878 00:45:06,750 ~-~-> 00:45:10,710
2879 bit slightly lower and then starts to trade down. This is
2880
2881 721
2882 00:45:10,710 ~-~-> 00:45:14,340
2883 the Judas swing. Okay now its price is trading lower. Okay
2884
2885 722
2886 00:45:14,340 ~-~-> 00:45:17,670
2887 now when you see that happening in London open and you're
2888
2889 723
2890 00:45:17,670 ~-~-> 00:45:21,900
2891 part of like chat rooms or forums, you'll see a those that
2892
2893 724
2894 00:45:21,900 ~-~-> 00:45:25,590
2895 are brave they'll come out and say that I'm short in
2896
2897 725
2898 00:45:25,590 ~-~-> 00:45:29,010
2899 assuming this is the cable, British Pound USD pair they'll
2900
2901 726
2902 00:45:29,190 ~-~-> 00:45:32,550
2903 come on board and say I'm short now and you know I'm selling
2904
2905 727
2906 00:45:32,850 ~-~-> 00:45:37,380
2907 and I'm 10 pips profit 10 1215 pips profit, it's going
2908
2909 728
2910 00:45:37,380 ~-~-> 00:45:42,630
2911 straight down. Yeah, well, right around two to three o'clock
2912
2913 729
2914 00:45:42,630 ~-~-> 00:45:46,470
2915 in the morning New York time. what'll happen is is the
2916
2917 730
2918 00:45:46,470 ~-~-> 00:45:49,680
2919 market participants that know what's going on. They
2920
2921 731
2922 00:45:49,680 ~-~-> 00:45:52,080
2923 understand key support resistance levels, they understand
2924
2925 732
2926 00:45:52,140 ~-~-> 00:45:59,580
2927 price structure, okay. There is a huge interest in buying
2928
2929 733
2930 00:45:59,610 ~-~-> 00:46:03,360
2931 this The sensitive high level key support resistance level.
2932
2933 734
2934 00:46:03,660 ~-~-> 00:46:06,090
2935 Okay? So when they take it down here, there's going to be a
2936
2937 735
2938 00:46:06,090 ~-~-> 00:46:10,710
2939 large entity that we call smart money that's going to come
2940
2941 736
2942 00:46:10,710 ~-~-> 00:46:15,030
2943 in here and accumulate all kinds of long positions here. So
2944
2945 737
2946 00:46:15,030 ~-~-> 00:46:18,870
2947 we're waiting for this to unfold when price does this, okay?
2948
2949 738
2950 00:46:19,110 ~-~-> 00:46:22,800
2951 We buy right here. Okay, this is the optimal trade entry in
2952
2953 739
2954 00:46:22,800 ~-~-> 00:46:26,820
2955 London open. Now you can look at a one hour chart and see
2956
2957 740
2958 00:46:26,820 ~-~-> 00:46:30,270
2959 this, okay, but predominantly, it's a 15 and five minute
2960
2961 741
2962 00:46:30,270 ~-~-> 00:46:33,210
2963 chart that you'll see this type of action. When it comes
2964
2965 742
2966 00:46:33,210 ~-~-> 00:46:36,450
2967 down to it and you see a five minute optimal trade entry at
2968
2969 743
2970 00:46:36,450 ~-~-> 00:46:41,700
2971 that level here. This is where you buy, okay? Now, also,
2972
2973 744
2974 00:46:42,570 ~-~-> 00:46:44,250
2975 when price is trading down here, you want to look at
2976
2977 745
2978 00:46:44,250 ~-~-> 00:46:48,870
2979 correlated pair SMT. You want to look at USD x SMT
2980
2981 746
2982 00:46:48,990 ~-~-> 00:46:54,900
2983 divergence gives some kind of framework to establish some
2984
2985 747
2986 00:46:54,930 ~-~-> 00:46:58,020
2987 confidence behind this level, simply because we have a range
2988
2989 748
2990 00:46:58,020 ~-~-> 00:47:00,000
2991 here and it trades back down to that level and it's very
2992
2993 749
2994 00:47:00,000 ~-~-> 00:47:02,520
2995 bullish, it could still go down a little bit lower than that
2996
2997 750
2998 00:47:02,520 ~-~-> 00:47:04,470
2999 and still, you know, ultimately trade up or even continue
3000
3001 751
3002 00:47:04,470 ~-~-> 00:47:06,360
3003 going lower. That's how you stop loss orders because we
3004
3005 752
3006 00:47:06,360 ~-~-> 00:47:09,420
3007 don't know for certain our analysis is going to be fruitful.
3008
3009 753
3010 00:47:10,350 ~-~-> 00:47:12,450
3011 But this is how we would be buying the market in London
3012
3013 754
3014 00:47:12,450 ~-~-> 00:47:15,780
3015 open. And obviously as price starts to move up, we will be
3016
3017 755
3018 00:47:15,780 ~-~-> 00:47:19,560
3019 looking for the highest it's been established in the early
3020
3021 756
3022 00:47:19,680 ~-~-> 00:47:23,880
3023 London open session to be trailed, I'm sorry, tripped and
3024
3025 757
3026 00:47:23,880 ~-~-> 00:47:27,330
3027 taken out as upside objectives. Okay. That's again, that's
3028
3029 758
3030 00:47:27,330 ~-~-> 00:47:30,210
3031 assuming that we have a bullish market structure and higher
3032
3033 759
3034 00:47:30,210 ~-~-> 00:47:31,290
3035 prices are likely.
3036
3037 760
3038 00:47:35,219 ~-~-> 00:47:37,649
3039 Alright, so let's look at that a little bit more closely.
3040
3041 761
3042 00:47:37,949 ~-~-> 00:47:41,429
3043 Okay, we have an Asian range here that unfolds. And we're
3044
3045 762
3046 00:47:41,429 ~-~-> 00:47:44,549
3047 assuming that we are in a bullish market structure. Okay,
3048
3049 763
3050 00:47:44,549 ~-~-> 00:47:47,189
3051 we're expecting higher prices, we're expecting the market to
3052
3053 764
3054 00:47:47,189 ~-~-> 00:47:50,069
3055 go lower to go higher. Okay. So we're just going to trade
3056
3057 765
3058 00:47:50,069 ~-~-> 00:47:52,739
3059 down to a higher level support level. Now this level down
3060
3061 766
3062 00:47:52,739 ~-~-> 00:47:56,069
3063 here may be again, could be a previous day's low. It could
3064
3065 767
3066 00:47:56,069 ~-~-> 00:48:00,689
3067 be a previous day's high. It could be a previous day's New
3068
3069 768
3070 00:48:00,689 ~-~-> 00:48:03,869
3071 York session level, okay, because New York was the most
3072
3073 769
3074 00:48:03,869 ~-~-> 00:48:08,759
3075 recent one outside of the asian session, it could be a
3076
3077 770
3078 00:48:08,759 ~-~-> 00:48:13,169
3079 previous month high, okay, or weekly, higher low, something
3080
3081 771
3082 00:48:13,229 ~-~-> 00:48:15,869
3083 along on a higher time frame premise, okay, there's going to
3084
3085 772
3086 00:48:15,869 ~-~-> 00:48:20,039
3087 be something that contributes to the fact that this is a low
3088
3089 773
3090 00:48:20,039 ~-~-> 00:48:25,799
3091 forming. But before the Asian range is broken many times
3092
3093 774
3094 00:48:25,799 ~-~-> 00:48:28,589
3095 again, we'll see that rally up. It's a turtle soup. So,
3096
3097 775
3098 00:48:28,979 ~-~-> 00:48:32,009
3099 again, if you're a scalper, you could see this as an
3100
3101 776
3102 00:48:32,009 ~-~-> 00:48:35,009
3103 opportunity to scalp and go lower. I don't trade like that.
3104
3105 777
3106 00:48:35,219 ~-~-> 00:48:39,059
3107 Okay. Once the Asian range lows taken out, many times you'll
3108
3109 778
3110 00:48:39,059 ~-~-> 00:48:42,779
3111 see it retrace and test that level again. And this could be
3112
3113 779
3114 00:48:42,779 ~-~-> 00:48:46,589
3115 your short, okay, if you again are a scalper with the
3116
3117 780
3118 00:48:46,589 ~-~-> 00:48:49,979
3119 expectation to take profits down here at the higher time
3120
3121 781
3122 00:48:49,979 ~-~-> 00:48:53,669
3123 frame support level, okay, but I am not that type of trader.
3124
3125 782
3126 00:48:54,779 ~-~-> 00:48:57,629
3127 This is the setup that I hunt. Okay, if I'm in a bullish
3128
3129 783
3130 00:48:57,629 ~-~-> 00:49:00,389
3131 market structure, I'm expecting higher prices. And I
3132
3133 784
3134 00:49:00,389 ~-~-> 00:49:02,759
3135 understand that looking at that previous slide we had, this
3136
3137 785
3138 00:49:02,759 ~-~-> 00:49:07,229
3139 decline was taking me inside the previous range, okay, or at
3140
3141 786
3142 00:49:07,229 ~-~-> 00:49:10,619
3143 price swing that we just discussed. When we get down and
3144
3145 787
3146 00:49:10,619 ~-~-> 00:49:12,179
3147 create an optimal trade entry in here, that's where I'm
3148
3149 788
3150 00:49:12,179 ~-~-> 00:49:16,229
3151 buying Okay, cuz we have a higher low here in this example,
3152
3153 789
3154 00:49:16,679 ~-~-> 00:49:20,459
3155 this this is the cable on the fiber this may have created a
3156
3157 790
3158 00:49:20,459 ~-~-> 00:49:21,329
3159 lower low here,
3160
3161 791
3162 00:49:22,259 ~-~-> 00:49:24,329
3163 low in fiber,
3164
3165 792
3166 00:49:24,719 ~-~-> 00:49:27,989
3167 okay, so you may not see the SMT divergence there, but you
3168
3169 793
3170 00:49:27,989 ~-~-> 00:49:31,859
3171 may end up seeing a higher high in the dollar. So you would
3172
3173 794
3174 00:49:31,859 ~-~-> 00:49:35,489
3175 end up with a USD x SMT divergence here to support the long
3176
3177 795
3178 00:49:36,029 ~-~-> 00:49:39,719
3179 on the cable. Obviously, when you see the market structure
3180
3181 796
3182 00:49:39,719 ~-~-> 00:49:44,669
3183 shift on the intraday basis, if you miss the optimal trade
3184
3185 797
3186 00:49:44,669 ~-~-> 00:49:47,489
3187 entry here, you could look for another opportunity to get
3188
3189 798
3190 00:49:47,699 ~-~-> 00:49:52,289
3191 get long and before it starts to go off on a tear. And then
3192
3193 799
3194 00:49:52,319 ~-~-> 00:49:54,869
3195 obviously we'd be looking for average daily range to
3196
3197 800
3198 00:49:54,869 ~-~-> 00:49:58,529
3199 fulfill. I do not consider average daily range now average
3200
3201 801
3202 00:49:58,529 ~-~-> 00:50:03,419
3203 daily range is A tool that you can get off of most
3204
3205 802
3206 00:50:03,419 ~-~-> 00:50:05,999
3207 platforms, you just pull up the indicator in this look at
3208
3209 803
3210 00:50:05,999 ~-~-> 00:50:08,339
3211 what the average daily ranges for the last five days what I
3212
3213 804
3214 00:50:08,339 ~-~-> 00:50:12,599
3215 use, predominantly, I'm not going to go into other ranges of
3216
3217 805
3218 00:50:12,629 ~-~-> 00:50:16,709
3219 average daily range, I use others, but most of my analysis
3220
3221 806
3222 00:50:16,769 ~-~-> 00:50:21,689
3223 is based on a five day average daily range. So I'll be
3224
3225 807
3226 00:50:21,689 ~-~-> 00:50:28,979
3227 utilizing the MT four tool that I shared on the internet for
3228
3229 808
3230 00:50:28,979 ~-~-> 00:50:32,879
3231 my average daily range for five day basis. I don't even load
3232
3233 809
3234 00:50:32,879 ~-~-> 00:50:37,349
3235 that up until I get to 10 GMT. Okay, so have that in your
3236
3237 810
3238 00:50:37,349 ~-~-> 00:50:42,149
3239 notes at 10 GMT, that is when you open up your average daily
3240
3241 811
3242 00:50:42,149 ~-~-> 00:50:46,109
3243 range, okay, and then whatever that level it shoots for, for
3244
3245 812
3246 00:50:46,109 ~-~-> 00:50:49,229
3247 a projected high, that's what you'd be aiming for for the
3248
3249 813
3250 00:50:49,229 ~-~-> 00:50:52,559
3251 day. Now, it doesn't always get to those levels. Okay, many
3252
3253 814
3254 00:50:52,559 ~-~-> 00:50:55,529
3255 times it'll probably fall short of it in the meantime, so do
3256
3257 815
3258 00:50:55,529 ~-~-> 00:50:57,599
3259 well behind and we'll talk about that later on in the video.
3260
3261 816
3262 00:50:59,099 ~-~-> 00:51:00,659
3263 But and Unless
3264
3265 817
3266 00:51:00,749 ~-~-> 00:51:03,359
3267 average daily range has been fulfilled if we get an
3268
3269 818
3270 00:51:03,479 ~-~-> 00:51:07,319
3271 retracement in the New York session and by pulling your
3272
3273 819
3274 00:51:07,319 ~-~-> 00:51:11,519
3275 Fibonacci based on swings from the London open session, we
3276
3277 820
3278 00:51:11,519 ~-~-> 00:51:13,439
3279 could get another optimal trade entry in here to get long
3280
3281 821
3282 00:51:13,439 ~-~-> 00:51:16,709
3283 and fulfilled the rest of the day. So if you're a type of
3284
3285 822
3286 00:51:16,709 ~-~-> 00:51:19,829
3287 trader that wants to add to winning trader winning trades
3288
3289 823
3290 00:51:19,829 ~-~-> 00:51:23,009
3291 that are open, this is one way you could do it or you could
3292
3293 824
3294 00:51:23,009 ~-~-> 00:51:27,329
3295 take profits here you know and then to take another smaller
3296
3297 825
3298 00:51:27,329 ~-~-> 00:51:30,659
3299 position in here, okay, I'm not advocating you told me you
3300
3301 826
3302 00:51:30,659 ~-~-> 00:51:33,329
3303 should trade like that, but it's a lot of freedom involved.
3304
3305 827
3306 00:51:33,389 ~-~-> 00:51:35,939
3307 I have this understanding because you can apply it to
3308
3309 828
3310 00:51:35,939 ~-~-> 00:51:39,389
3311 whatever type of trader you are. Me, if I went long down
3312
3313 829
3314 00:51:39,389 ~-~-> 00:51:43,889
3315 here, my stop loss will remain below the daily low. Okay, so
3316
3317 830
3318 00:51:43,889 ~-~-> 00:51:46,139
3319 that's one of the important things that if you're a day
3320
3321 831
3322 00:51:46,139 ~-~-> 00:51:49,739
3323 trader and you're trading London, I do not share my stop
3324
3325 832
3326 00:51:49,739 ~-~-> 00:51:52,679
3327 loss inside the range once the lows formed in London.
3328
3329 833
3330 00:51:53,219 ~-~-> 00:51:56,489
3331 Whatever the short term lows are, I could care less. Okay,
3332
3333 834
3334 00:51:56,489 ~-~-> 00:51:59,069
3335 because I know that New York is likely to have a retracement
3336
3337 835
3338 00:51:59,099 ~-~-> 00:52:02,669
3339 rather deep sometimes So that's why I take some profits when
3340
3341 836
3342 00:52:02,669 ~-~-> 00:52:05,609
3343 we trade back up and blow out the Asian range highs again,
3344
3345 837
3346 00:52:05,669 ~-~-> 00:52:10,679
3347 once we dip down, I'm taking sometimes 30% 50% most cases
3348
3349 838
3350 00:52:10,679 ~-~-> 00:52:14,489
3351 and sometimes even 70% of my trade off at that level. Now
3352
3353 839
3354 00:52:14,489 ~-~-> 00:52:17,969
3355 what? What establishes that, that parameter? Well, if I'm
3356
3357 840
3358 00:52:17,969 ~-~-> 00:52:21,089
3359 trading against the higher time frame premise, I'm taking
3360
3361 841
3362 00:52:21,299 ~-~-> 00:52:28,439
3363 70% off here. Okay? If I'm trading with the higher premise
3364
3365 842
3366 00:52:28,469 ~-~-> 00:52:33,059
3367 in mind, I'm taking 30% off here and leaving 70%. One, we're
3368
3369 843
3370 00:52:33,089 ~-~-> 00:52:36,869
3371 reaching for the average daily range or higher, okay? If I'm
3372
3373 844
3374 00:52:36,869 ~-~-> 00:52:39,239
3375 just really not sure I'm not comfortable, you know, I'll
3376
3377 845
3378 00:52:39,239 ~-~-> 00:52:43,589
3379 take 50% off of the trade here and leave 50% of the initial
3380
3381 846
3382 00:52:43,619 ~-~-> 00:52:47,519
3383 entry on long, but my stop loss stays down here, breakeven,
3384
3385 847
3386 00:52:47,639 ~-~-> 00:52:50,489
3387 once it goes inside this daily range, it should never come
3388
3389 848
3390 00:52:50,489 ~-~-> 00:52:52,769
3391 back down to that low again. If it does the trades, no,
3392
3393 849
3394 00:52:52,769 ~-~-> 00:52:55,829
3395 good. Now, if it doesn't take me out, I could care less.
3396
3397 850
3398 00:52:55,859 ~-~-> 00:52:59,369
3399 Hopefully I've made first profit in here or I've moved
3400
3401 851
3402 00:52:59,669 ~-~-> 00:53:04,229
3403 myself Up progressively enough to limit my risk, even though
3404
3405 852
3406 00:53:04,229 ~-~-> 00:53:07,739
3407 my initial stop loss is 30. At some point as prices start to
3408
3409 853
3410 00:53:07,739 ~-~-> 00:53:12,329
3411 move here, I'm trimming it down to 20 1510. Five to break
3412
3413 854
3414 00:53:12,329 ~-~-> 00:53:15,359
3415 even eventually, okay, but I'm not in a hurry to move my
3416
3417 855
3418 00:53:15,359 ~-~-> 00:53:18,629
3419 stop loss up to break even. I'm not not trying to lock in
3420
3421 856
3422 00:53:18,629 ~-~-> 00:53:22,229
3423 profits, because you'll learn by doing this over a period of
3424
3425 857
3426 00:53:22,229 ~-~-> 00:53:26,129
3427 time that price action intraday many times. They know how
3428
3429 858
3430 00:53:26,249 ~-~-> 00:53:28,049
3431 you're going to trade and you're going to trail your stop
3432
3433 859
3434 00:53:28,049 ~-~-> 00:53:31,139
3435 loss. And so if you're right on day, and they can tag you
3436
3437 860
3438 00:53:31,139 ~-~-> 00:53:34,019
3439 out and your long, think about it, what your stop loss is
3440
3441 861
3442 00:53:34,019 ~-~-> 00:53:38,459
3443 going to be. It's a stop for selling, okay? It's going to
3444
3445 862
3446 00:53:38,459 ~-~-> 00:53:41,549
3447 become a sell order at the market, who's going to take the
3448
3449 863
3450 00:53:41,549 ~-~-> 00:53:44,249
3451 other side of that trade smart money. So if they can take it
3452
3453 864
3454 00:53:44,249 ~-~-> 00:53:47,549
3455 back down there and stop you out, and your stop becomes a
3456
3457 865
3458 00:53:47,549 ~-~-> 00:53:51,749
3459 market order to sell that that stopped being triggered. Your
3460
3461 866
3462 00:53:51,749 ~-~-> 00:53:56,729
3463 long it's sold to them, because they're going to buy, okay,
3464
3465 867
3466 00:53:57,089 ~-~-> 00:53:59,699
3467 and then don't be able to own they'll be on the move going
3468
3469 868
3470 00:53:59,699 ~-~-> 00:54:02,189
3471 higher. In the average daily range for London close up in
3472
3473 869
3474 00:54:02,189 ~-~-> 00:54:03,689
3475 here in terms of time and price theory
3476
3477 870
3478 00:54:08,369 ~-~-> 00:54:09,089
3479 right now,
3480
3481 871
3482 00:54:10,139 ~-~-> 00:54:13,079
3483 many times you'll see price give you this buying
3484
3485 872
3486 00:54:13,079 ~-~-> 00:54:14,759
3487 opportunity. And this may look a little bit different here,
3488
3489 873
3490 00:54:14,759 ~-~-> 00:54:16,679
3491 but what I'm gonna bring to your attention as many times
3492
3493 874
3494 00:54:16,709 ~-~-> 00:54:19,859
3495 it'll trade up bullish Lee and you'll be long in the London
3496
3497 875
3498 00:54:19,859 ~-~-> 00:54:23,549
3499 open. But if we trade up into a higher level key or weekly
3500
3501 876
3502 00:54:23,549 ~-~-> 00:54:26,579
3503 or daily or even monthly resistance level up here, in the
3504
3505 877
3506 00:54:26,579 ~-~-> 00:54:30,449
3507 trades up into that into the New York or London close
3508
3509 878
3510 00:54:30,449 ~-~-> 00:54:33,809
3511 timeframe, many times this will set up a market reversal
3512
3513 879
3514 00:54:33,809 ~-~-> 00:54:37,109
3515 profile. Okay? So have that in mind. Don't Don't marry the
3516
3517 880
3518 00:54:37,109 ~-~-> 00:54:40,109
3519 vein simply because you have a bullish market structure,
3520
3521 881
3522 00:54:40,109 ~-~-> 00:54:43,169
3523 everything's bullish and you're being profitable. Don't hold
3524
3525 882
3526 00:54:43,169 ~-~-> 00:54:44,759
3527 on to these things, thinking they're always gonna go to the
3528
3529 883
3530 00:54:44,759 ~-~-> 00:54:46,979
3531 moon, okay? Because this is the scenario that might unfold
3532
3533 884
3534 00:54:46,979 ~-~-> 00:54:51,029
3535 and if you hold on to your position with too much of the
3536
3537 885
3538 00:54:51,419 ~-~-> 00:54:54,119
3539 initial position open, you could end up seeing some of your
3540
3541 886
3542 00:54:54,119 ~-~-> 00:54:57,509
3543 profits I think erode and maybe become a losing trade again
3544
3545 887
3546 00:54:57,509 ~-~-> 00:55:01,319
3547 that this illustrates the notion Why stocks are important.
3548
3549 888
3550 00:55:06,539 ~-~-> 00:55:10,079
3551 Okay, obviously, if we're looking at the reverse and you see
3552
3553 889
3554 00:55:10,079 ~-~-> 00:55:13,349
3555 price rallying up here, this is going to illustrate an
3556
3557 890
3558 00:55:13,349 ~-~-> 00:55:17,069
3559 hourly chart, we would be looking for the price swings on an
3560
3561 891
3562 00:55:17,069 ~-~-> 00:55:21,719
3563 hourly basis intra week to permit are trading based on a
3564
3565 892
3566 00:55:21,869 ~-~-> 00:55:27,269
3567 daily and four hour premise or directional bias. Once the
3568
3569 893
3570 00:55:27,449 ~-~-> 00:55:30,269
3571 hourly chart gets in sync with that, it just makes your
3572
3573 894
3574 00:55:30,269 ~-~-> 00:55:34,019
3575 London open trades very, very easy. And again, this is not
3576
3577 895
3578 00:55:34,019 ~-~-> 00:55:37,439
3579 to teach you how to trade every single London open. It's
3580
3581 896
3582 00:55:37,709 ~-~-> 00:55:41,909
3583 mainly focused on the real easy setups, okay, and by easy, I
3584
3585 897
3586 00:55:41,909 ~-~-> 00:55:45,989
3587 don't mean guaranteed profits, okay. So everything I'm
3588
3589 898
3590 00:55:45,989 ~-~-> 00:55:49,289
3591 teaching you here is for you to utilize in a demo account.
3592
3593 899
3594 00:55:49,469 ~-~-> 00:55:51,839
3595 Okay, so you got to pay attention. These risk disclaimers in
3596
3597 900
3598 00:55:51,839 ~-~-> 00:55:54,029
3599 the beginning, the videos are there for a reason they're not
3600
3601 901
3602 00:55:54,029 ~-~-> 00:55:57,119
3603 for decoration. Everything I'm showing you is obviously just
3604
3605 902
3606 00:55:57,119 ~-~-> 00:55:59,429
3607 for informational purposes, so utilize them in a demo
3608
3609 903
3610 00:55:59,429 ~-~-> 00:56:02,129
3611 account. Don't want credit for you making money. And I
3612
3613 904
3614 00:56:02,129 ~-~-> 00:56:04,229
3615 certainly don't want credit for you losing money. So we got
3616
3617 905
3618 00:56:04,229 ~-~-> 00:56:06,869
3619 to be responsible with this information. So with all that
3620
3621 906
3622 00:56:06,869 ~-~-> 00:56:09,209
3623 said, this being an hourly chart, we got to look at the
3624
3625 907
3626 00:56:09,209 ~-~-> 00:56:11,909
3627 swings on an hourly basis. And while this illustrates a
3628
3629 908
3630 00:56:11,909 ~-~-> 00:56:15,089
3631 rather crude example of price action, all the things that we
3632
3633 909
3634 00:56:15,089 ~-~-> 00:56:19,169
3635 said that were true about break in market structure going
3636
3637 910
3638 00:56:19,169 ~-~-> 00:56:21,659
3639 bullish, same thing happens here. When Mark structure
3640
3641 911
3642 00:56:21,659 ~-~-> 00:56:26,399
3643 breaking down on this high here, every rally up is going to
3644
3645 912
3646 00:56:26,399 ~-~-> 00:56:30,569
3647 be a possible area to look for selling scenarios in London
3648
3649 913
3650 00:56:30,569 ~-~-> 00:56:33,959
3651 open. So looking at that. This is what you end up seeing
3652
3653 914
3654 00:56:33,959 ~-~-> 00:56:38,159
3655 many times, you'll see this swing down and there's a rally
3656
3657 915
3658 00:56:38,159 ~-~-> 00:56:41,609
3659 up in London open, you'll get a optimal trade entry many
3660
3661 916
3662 00:56:41,609 ~-~-> 00:56:44,759
3663 times trade up into this specific point here. Okay, but
3664
3665 917
3666 00:56:44,789 ~-~-> 00:56:47,369
3667 initially, you'll see the Asian range in here. There's an
3668
3669 918
3670 00:56:47,369 ~-~-> 00:56:51,869
3671 initial drop down, pending orders that are tripped, okay,
3672
3673 919
3674 00:56:52,079 ~-~-> 00:56:56,729
3675 those that are caught, net sellers, okay. are dragged
3676
3677 920
3678 00:56:56,729 ~-~-> 00:57:00,299
3679 against the coals and then all of a sudden, it goes To a
3680
3681 921
3682 00:57:00,299 ~-~-> 00:57:03,269
3683 deeper range retracement here optimal trade entry. Once you
3684
3685 922
3686 00:57:03,269 ~-~-> 00:57:06,179
3687 see this higher time frame resistance level, again, much in
3688
3689 923
3690 00:57:06,179 ~-~-> 00:57:09,719
3691 the same capacity we used for the buy scenario, the same
3692
3693 924
3694 00:57:09,719 ~-~-> 00:57:13,499
3695 rules apply here for the sell, you would look for the London
3696
3697 925
3698 00:57:13,499 ~-~-> 00:57:17,549
3699 open kill zone in here. Two o'clock in the morning, three
3700
3701 926
3702 00:57:17,549 ~-~-> 00:57:21,389
3703 o'clock, four o'clock in the morning, New York time, or 68
3704
3705 927
3706 00:57:22,019 ~-~-> 00:57:27,359
3707 or 69 GMT, that window of opportunity for the London open.
3708
3709 928
3710 00:57:27,749 ~-~-> 00:57:30,689
3711 That's the kills and you would look to see this actual high
3712
3713 929
3714 00:57:30,689 ~-~-> 00:57:33,539
3715 form. And this many times will be the actual high of the day
3716
3717 930
3718 00:57:33,569 ~-~-> 00:57:36,929
3719 and then you would just wait for price to try to move into
3720
3721 931
3722 00:57:36,929 ~-~-> 00:57:42,119
3723 that new york open timeframe or London close. So looking at
3724
3725 932
3726 00:57:42,119 ~-~-> 00:57:45,659
3727 it a little bit more detail again, not in the same way we
3728
3729 933
3730 00:57:45,659 ~-~-> 00:57:48,209
3731 did with the buy. We had the Asian range in here, the
3732
3733 934
3734 00:57:48,209 ~-~-> 00:57:51,749
3735 initial drop, this doesn't have to happen. But when price
3736
3737 935
3738 00:57:51,749 ~-~-> 00:57:53,669
3739 rallies up out of the Asian range many times you'll see it
3740
3741 936
3742 00:57:53,669 ~-~-> 00:57:57,419
3743 dip back down into it, giving you a optimal trade entry here
3744
3745 937
3746 00:57:57,869 ~-~-> 00:58:01,109
3747 and then rallies on up into a
3748
3749 938
3750 00:58:01,650 ~-~-> 00:58:02,700
3751 previous
3752
3753 939
3754 00:58:03,750 ~-~-> 00:58:06,120
3755 higher level support resistance level again much in the same
3756
3757 940
3758 00:58:06,120 ~-~-> 00:58:09,450
3759 way we talked about for the buy scenario, this setup in
3760
3761 941
3762 00:58:09,450 ~-~-> 00:58:13,140
3763 here. Okay, this setup in here is what you're hunting. You
3764
3765 942
3766 00:58:13,140 ~-~-> 00:58:16,170
3767 don't want to see this this right here is the Judas you
3768
3769 943
3770 00:58:16,170 ~-~-> 00:58:19,590
3771 anticipate this when the market structure is bearish When
3772
3773 944
3774 00:58:19,590 ~-~-> 00:58:22,740
3775 You're Expecting lower prices and higher timeframe. So this
3776
3777 945
3778 00:58:22,740 ~-~-> 00:58:26,580
3779 is how you fade rallies, you sell rallies, you hear that so
3780
3781 946
3782 00:58:26,820 ~-~-> 00:58:27,150
3783 that
3784
3785 947
3786 00:58:27,510 ~-~-> 00:58:28,080
3787 market
3788
3789 948
3790 00:58:29,280 ~-~-> 00:58:32,460
3791 proverb, you know, buy low, sell high and sell high and buy
3792
3793 949
3794 00:58:32,460 ~-~-> 00:58:36,450
3795 lower. Okay, well, you selling rallies and buying dips, this
3796
3797 950
3798 00:58:36,450 ~-~-> 00:58:39,450
3799 is what we do. We expect this rally to take place. We don't
3800
3801 951
3802 00:58:39,450 ~-~-> 00:58:41,790
3803 chase it. Okay, if you're a scalper sure you can do that.
3804
3805 952
3806 00:58:41,850 ~-~-> 00:58:44,790
3807 I'm not a scalper. Okay, I'll teach you how to intraday
3808
3809 953
3810 00:58:44,790 ~-~-> 00:58:48,930
3811 trade with the London Express, okay, you're trying to be in
3812
3813 954
3814 00:58:48,930 ~-~-> 00:58:52,320
3815 here for an intraday run of several hours, not a couple
3816
3817 955
3818 00:58:52,320 ~-~-> 00:58:54,870
3819 minutes. But if you see the optimal trade entry in here
3820
3821 956
3822 00:58:54,870 ~-~-> 00:58:58,290
3823 form, okay, once the price starts to break down, it may give
3824
3825 957
3826 00:58:58,290 ~-~-> 00:59:00,210
3827 you another secondary optimal trade entry in many time
3828
3829 958
3830 00:59:00,210 ~-~-> 00:59:03,600
3831 you'll see that unfold. But usually about this time it's 10
3832
3833 959
3834 00:59:03,600 ~-~-> 00:59:07,800
3835 GMT and it's really on their way, okay? And it'll rally back
3836
3837 960
3838 00:59:07,800 ~-~-> 00:59:14,250
3839 up into a deep retracement. Using a London open high short
3840
3841 961
3842 00:59:14,250 ~-~-> 00:59:16,650
3843 term high, you can see that on a five or 15 minute
3844
3845 962
3846 00:59:16,650 ~-~-> 00:59:19,170
3847 timeframe. That's when you'll get your optimal trade entry
3848
3849 963
3850 00:59:19,350 ~-~-> 00:59:23,820
3851 for secondary entry or continuation pattern for the daily
3852
3853 964
3854 00:59:23,820 ~-~-> 00:59:27,030
3855 trend in the New York open session, then it'll reach for the
3856
3857 965
3858 00:59:27,030 ~-~-> 00:59:29,550
3859 average daily range down here five, the average daily range.
3860
3861 966
3862 00:59:29,820 ~-~-> 00:59:34,770
3863 So the initial rally obviously again is assuming that we
3864
3865 967
3866 00:59:34,770 ~-~-> 00:59:38,100
3867 have a bearish market structure. Okay, the rally up is to
3868
3869 968
3870 00:59:38,100 ~-~-> 00:59:43,590
3871 Judas into a known key resistance level. Okay. Now this
3872
3873 969
3874 00:59:43,590 ~-~-> 00:59:49,320
3875 level could be pivots with trinities it could be a big
3876
3877 970
3878 00:59:49,320 ~-~-> 00:59:53,040
3879 figure. It could be a previous week's high or low. It could
3880
3881 971
3882 00:59:53,040 ~-~-> 00:59:56,430
3883 be any time frame support resistance. Okay, look at the
3884
3885 972
3886 00:59:56,610 ~-~-> 00:59:59,310
3887 trading key support resistance levels video module. Okay.
3888
3889 973
3890 00:59:59,310 ~-~-> 01:00:01,470
3891 gives you all kinds have ideas of what levels you should be
3892
3893 974
3894 01:00:01,470 ~-~-> 01:00:06,240
3895 paying attention to. This also, okay, and we talked about
3896
3897 975
3898 01:00:06,240 ~-~-> 01:00:11,820
3899 Asian range earlier. When I learned Chris Lori's approach to
3900
3901 976
3902 01:00:11,850 ~-~-> 01:00:17,580
3903 applying the Asian range to forex. I learned that if I used
3904
3905 977
3906 01:00:17,610 ~-~-> 01:00:23,040
3907 the previous week's Asian range for Friday, and that was a
3908
3909 978
3910 01:00:23,040 ~-~-> 01:00:27,240
3911 previous week's Friday's Asian range, and the beginning of
3912
3913 979
3914 01:00:27,240 ~-~-> 01:00:29,700
3915 the week, Asian range Sunday and Monday, okay, those agent
3916
3917 980
3918 01:00:29,700 ~-~-> 01:00:32,850
3919 ranges extend those levels throughout the entire week, many
3920
3921 981
3922 01:00:32,850 ~-~-> 01:00:36,780
3923 times those levels act as support resistance levels, and I
3924
3925 982
3926 01:00:36,780 ~-~-> 01:00:39,750
3927 don't know why. So don't ask me. I just noticed one of those
3928
3929 983
3930 01:00:39,750 ~-~-> 01:00:42,810
3931 little things in the marketplace. I'm not sure if crystal
3932
3933 984
3934 01:00:42,840 ~-~-> 01:00:46,830
3935 Laurie knows about it. But I just I applied to not only my
3936
3937 985
3938 01:00:46,830 ~-~-> 01:00:49,410
3939 intraday in other words by having these Asian range highs
3940
3941 986
3942 01:00:49,410 ~-~-> 01:00:52,380
3943 and lows. Okay. Laurie teaches to extend that throughout the
3944
3945 987
3946 01:00:52,380 ~-~-> 01:00:56,010
3947 entire day. Well, I took that premise and just said okay,
3948
3949 988
3950 01:00:56,010 ~-~-> 01:00:58,740
3951 well what happens if I take it and apply it across the week
3952
3953 989
3954 01:00:58,740 ~-~-> 01:01:02,910
3955 on key days The beginning and the ending of the week. And
3956
3957 990
3958 01:01:03,060 ~-~-> 01:01:05,400
3959 I'll let you decide whether or not there's any merit to it
3960
3961 991
3962 01:01:05,400 ~-~-> 01:01:07,560
3963 or not, because I think you're going to be smiling when you
3964
3965 992
3966 01:01:07,560 ~-~-> 01:01:10,200
3967 see what happens. Doesn't matter what pair, okay, just look
3968
3969 993
3970 01:01:10,200 ~-~-> 01:01:11,970
3971 at Asian range high low on Monday
3972
3973 994
3974 01:01:12,329 ~-~-> 01:01:12,929
3975 and Sunday
3976
3977 995
3978 01:01:13,889 ~-~-> 01:01:16,559
3979 and on Friday and extend this across the week. So you're
3980
3981 996
3982 01:01:16,559 ~-~-> 01:01:21,029
3983 using previous Friday, and this week's Sunday and Monday's
3984
3985 997
3986 01:01:21,029 ~-~-> 01:01:24,239
3987 Asian range high low. Okay. And many times I've used the
3988
3989 998
3990 01:01:24,239 ~-~-> 01:01:27,539
3991 previous week Sunday in Monday's Asian range high and low to
3992
3993 999
3994 01:01:27,869 ~-~-> 01:01:31,859
3995 to draw it across but you'll be fascinated to see how how
3996
3997 1000
3998 01:01:31,859 ~-~-> 01:01:35,369
3999 that many times creates dynamic support resistance levels.
4000
4001 1001
4002 01:01:35,369 ~-~-> 01:01:38,639
4003 So again, I don't know why. But obviously there's a lot of
4004
4005 1002
4006 01:01:38,639 ~-~-> 01:01:40,619
4007 dealing that goes on around there's levels and you know,
4008
4009 1003
4010 01:01:40,649 ~-~-> 01:01:44,309
4011 some money in yours doing your business. But you'd be
4012
4013 1004
4014 01:01:44,309 ~-~-> 01:01:47,879
4015 looking for obviously, price, trading lower reaching for the
4016
4017 1005
4018 01:01:47,879 ~-~-> 01:01:49,949
4019 average daily range, again, not loading the average daily
4020
4021 1006
4022 01:01:49,949 ~-~-> 01:01:54,089
4023 range indicator until 10 GMT, which is 5am my time on New
4024
4025 1007
4026 01:01:54,089 ~-~-> 01:01:58,589
4027 York. I live in Maryland, but speaking in terms of New York,
4028
4029 1008
4030 01:01:58,589 ~-~-> 01:02:02,579
4031 so you guys understand East Coast time. And basically, you
4032
4033 1009
4034 01:02:02,579 ~-~-> 01:02:06,149
4035 know, as we get short, we don't trail our stop loss inside
4036
4037 1010
4038 01:02:06,149 ~-~-> 01:02:08,489
4039 of the daily range, we keep it at breakeven and we take
4040
4041 1011
4042 01:02:08,489 ~-~-> 01:02:12,629
4043 profits at logical areas of support and fib extensions.
4044
4045 1012
4046 01:02:12,629 ~-~-> 01:02:17,519
4047 Okay, so by doing that it's easy to absorb retracements on
4048
4049 1013
4050 01:02:17,519 ~-~-> 01:02:20,879
4051 open portions of the initial trade because you've already
4052
4053 1014
4054 01:02:20,879 ~-~-> 01:02:23,129
4055 banked some profits so even if it comes all the way back and
4056
4057 1015
4058 01:02:23,129 ~-~-> 01:02:26,189
4059 takes us out breakeven we've made money on the day so it's
4060
4061 1016
4062 01:02:26,189 ~-~-> 01:02:30,239
4063 what it gets to you really want to see that your trading get
4064
4065 1017
4066 01:02:30,239 ~-~-> 01:02:33,689
4067 to the level of not feeling to be right and if the trades go
4068
4069 1018
4070 01:02:33,689 ~-~-> 01:02:38,639
4071 against you so what either didn't lose much or you take
4072
4073 1019
4074 01:02:38,639 ~-~-> 01:02:40,919
4075 first profit or a portion of your profits and if it goes to
4076
4077 1020
4078 01:02:40,919 ~-~-> 01:02:43,829
4079 break even is never really breakeven now as you profited
4080
4081 1021
4082 01:02:47,489 ~-~-> 01:02:51,089
4083 alright obviously, London open sell signals obviously end up
4084
4085 1022
4086 01:02:51,119 ~-~-> 01:02:56,639
4087 being just the catalyst for a market reversal profile. So if
4088
4089 1023
4090 01:02:56,639 ~-~-> 01:02:59,489
4091 you see what looks like a classic sell off, okay, many times
4092
4093 1024
4094 01:02:59,489 ~-~-> 01:03:02,339
4095 it will trade down to a higher timeframe, monthly, weekly or
4096
4097 1025
4098 01:03:02,339 ~-~-> 01:03:04,589
4099 daily support level that you have to be mindful of okay?
4100
4101 1026
4102 01:03:04,589 ~-~-> 01:03:07,949
4103 Because this dip down here that you're trading, intraday may
4104
4105 1027
4106 01:03:07,949 ~-~-> 01:03:10,979
4107 be a part of a higher timeframe price leg that's maybe over
4108
4109 1028
4110 01:03:10,979 ~-~-> 01:03:13,739
4111 here, okay and then trades down and there's not a higher
4112
4113 1029
4114 01:03:13,739 ~-~-> 01:03:17,339
4115 level optimal trade entry by scenario. Okay, so all these
4116
4117 1030
4118 01:03:17,339 ~-~-> 01:03:19,949
4119 things have to be considered and it goes along with what
4120
4121 1031
4122 01:03:19,949 ~-~-> 01:03:24,299
4123 we've discovered in the insider range webinar this year. And
4124
4125 1032
4126 01:03:24,299 ~-~-> 01:03:26,459
4127 you probably heard me say this several times. But you can
4128
4129 1033
4130 01:03:26,459 ~-~-> 01:03:31,439
4131 find it on the millionaire traders guild thread on baby
4132
4133 1034
4134 01:03:31,439 ~-~-> 01:03:36,329
4135 pips, it's in, in a thread in the beginning of the post, the
4136
4137 1035
4138 01:03:36,329 ~-~-> 01:03:39,629
4139 very first post to that thread. You can see the link for
4140
4141 1036
4142 01:03:39,629 ~-~-> 01:03:42,629
4143 that, that webinar. Again, it's inside the range. So there's
4144
4145 1037
4146 01:03:42,629 ~-~-> 01:03:47,489
4147 concepts of using Fibonacci and where price structure moves
4148
4149 1038
4150 01:03:47,489 ~-~-> 01:03:50,249
4151 from one high to low to me from high to low, and working
4152
4153 1039
4154 01:03:50,249 ~-~-> 01:03:54,449
4155 within predetermined ranges will allow you to expect or at
4156
4157 1040
4158 01:03:54,449 ~-~-> 01:03:57,119
4159 least anticipate these types of events. So while this may be
4160
4161 1041
4162 01:03:57,119 ~-~-> 01:04:00,929
4163 a profitable London, open sell scenario Don't be
4164
4165 1042
4166 01:04:01,710 ~-~-> 01:04:02,520
4167 blind,
4168
4169 1043
4170 01:04:03,240 ~-~-> 01:04:06,990
4171 okay, to this unfolding, it could very easily sneak up on
4172
4173 1044
4174 01:04:06,990 ~-~-> 01:04:08,070
4175 you if you're not looking at the higher time
4176
4177 1045
4178 01:04:08,070 ~-~-> 01:04:08,760
4179 frame premise.
4180
4181 1046
4182 01:04:10,949 ~-~-> 01:04:13,889
4183 So when do you avoid the long open? Okay, well, me
4184
4185 1047
4186 01:04:13,889 ~-~-> 01:04:19,019
4187 specifically, I try to limit my on an open trading around a
4188
4189 1048
4190 01:04:19,019 ~-~-> 01:04:22,259
4191 few obvious reasons. If interest rate announcements are
4192
4193 1049
4194 01:04:22,259 ~-~-> 01:04:25,769
4195 coming in, obviously I'm on on the sidelines waiting. And if
4196
4197 1050
4198 01:04:25,769 ~-~-> 01:04:29,699
4199 there's a key speech, keynote speaker, a big deal, come
4200
4201 1051
4202 01:04:30,149 ~-~-> 01:04:32,789
4203 comes across the news wires that hey, look, you know, so and
4204
4205 1052
4206 01:04:32,789 ~-~-> 01:04:35,579
4207 so is gonna be talking about whatever, you know, economy,
4208
4209 1053
4210 01:04:36,089 ~-~-> 01:04:39,089
4211 and it has a direct impact to my specific pair, I won't
4212
4213 1054
4214 01:04:39,089 ~-~-> 01:04:39,479
4215 trade.
4216
4217 1055
4218 01:04:40,170 ~-~-> 01:04:42,210
4219 If it's a holiday, I won't trade.
4220
4221 1056
4222 01:04:42,630 ~-~-> 01:04:45,000
4223 If it's approaching a holiday many times, I'll second guess
4224
4225 1057
4226 01:04:45,000 ~-~-> 01:04:48,780
4227 trading. And if there's a global or economic event that
4228
4229 1058
4230 01:04:48,780 ~-~-> 01:04:51,690
4231 takes place, it surprises the markets. I won't I won't trade
4232
4233 1059
4234 01:04:51,690 ~-~-> 01:04:56,850
4235 that day, not even even New York. And obviously if my weekly
4236
4237 1060
4238 01:04:56,850 ~-~-> 01:04:59,970
4239 range objectives are achieved, there's no needs there's no
4240
4241 1061
4242 01:05:00,000 ~-~-> 01:05:02,430
4243 For me to go in here and try to chase it out this, hopefully
4244
4245 1062
4246 01:05:02,430 ~-~-> 01:05:06,690
4247 have a position that's open. And occasionally, you know if
4248
4249 1063
4250 01:05:06,690 ~-~-> 01:05:09,390
4251 the Asian range is greater than 50 pips, you know, I will
4252
4253 1064
4254 01:05:09,390 ~-~-> 01:05:12,330
4255 just wait for the New York session to open so anything
4256
4257 1065
4258 01:05:12,330 ~-~-> 01:05:14,700
4259 greater than 40 kind of like puts me on the sidelines either
4260
4261 1066
4262 01:05:14,700 ~-~-> 01:05:18,180
4263 expecting a real deep optimal trade entry back in the Asian
4264
4265 1067
4266 01:05:18,180 ~-~-> 01:05:21,480
4267 range for London open or simply wait for the New York
4268
4269 1068
4270 01:05:21,480 ~-~-> 01:05:23,310
4271 session because it's much easier to trade that
4272
4273 1069
4274 01:05:23,639 ~-~-> 01:05:26,219
4275 and let the smarter people figure out what London's doing.
4276
4277 1070
4278 01:05:33,659 ~-~-> 01:05:36,449
4279 Alright, so let's take a look at an example when average
4280
4281 1071
4282 01:05:36,449 ~-~-> 01:05:40,229
4283 daily range doesn't matter and how we can use that concept
4284
4285 1072
4286 01:05:40,409 ~-~-> 01:05:43,469
4287 and maybe ferret out greater profit potential.
4288
4289 1073
4290 01:05:49,349 ~-~-> 01:05:53,849
4291 Okay, folks, let's let's look at an example at how average
4292
4293 1074
4294 01:05:53,849 ~-~-> 01:05:59,789
4295 daily range doesn't always equate to the actual higher loan
4296
4297 1075
4298 01:05:59,819 ~-~-> 01:06:04,919
4299 debt. A lot of folks have a lot of preconceived expectations
4300
4301 1076
4302 01:06:05,039 ~-~-> 01:06:09,239
4303 on and I think they're a little aggressive and outside the
4304
4305 1077
4306 01:06:09,239 ~-~-> 01:06:12,689
4307 spectrum of reality. If it was like this all the time,
4308
4309 1078
4310 01:06:12,689 ~-~-> 01:06:15,959
4311 obviously it would be just everybody will be doing it. But
4312
4313 1079
4314 01:06:16,169 ~-~-> 01:06:19,679
4315 if we are in sync with the higher time frame premise, okay,
4316
4317 1080
4318 01:06:19,679 ~-~-> 01:06:23,849
4319 and we're expecting a bullish move and I'll zoom in and show
4320
4321 1081
4322 01:06:23,849 ~-~-> 01:06:27,569
4323 you the intraday version of the swing we're looking at in
4324
4325 1082
4326 01:06:27,569 ~-~-> 01:06:31,169
4327 the intraday action and then walking, zoom out and he'll
4328
4329 1083
4330 01:06:31,169 ~-~-> 01:06:35,969
4331 show you why this takes place. It just so happened today was
4332
4333 1084
4334 01:06:35,969 ~-~-> 01:06:39,719
4335 an example of this very phenomenon taking place. The average
4336
4337 1085
4338 01:06:39,719 ~-~-> 01:06:42,629
4339 daily range in here has been fulfilled today. That's what
4340
4341 1086
4342 01:06:42,629 ~-~-> 01:06:46,199
4343 the indicator that you see in my videos and in this one as
4344
4345 1087
4346 01:06:46,199 ~-~-> 01:06:49,769
4347 well has already turned blue. Okay, so that means the
4348
4349 1088
4350 01:06:49,769 ~-~-> 01:06:54,029
4351 average daily range has been activated. The average daily
4352
4353 1089
4354 01:06:54,029 ~-~-> 01:06:59,969
4355 range, okay low is overlapping with the Asian range, low key
4356
4357 1090
4358 01:06:59,999 ~-~-> 01:07:03,059
4359 So we have the Asian range here. Okay, it's a little less
4360
4361 1091
4362 01:07:03,059 ~-~-> 01:07:08,159
4363 than 30 pips. So let's take a look at that. And you'll see
4364
4365 1092
4366 01:07:08,159 ~-~-> 01:07:15,749
4367 that we have 28 pips for the Asian range, okay, nice healthy
4368
4369 1093
4370 01:07:15,749 ~-~-> 01:07:20,519
4371 little danger range, nothing, you know, extrapolated or too
4372
4373 1094
4374 01:07:20,519 ~-~-> 01:07:26,279
4375 large 40 or less is is, in my opinion, a good Asian range.
4376
4377 1095
4378 01:07:27,629 ~-~-> 01:07:31,979
4379 We have a optimal trade entry in here. Okay. It's good
4380
4381 1096
4382 01:07:31,979 ~-~-> 01:07:40,319
4383 utilized. Take a look at that. Pull it up to the Asian range
4384
4385 1097
4386 01:07:40,319 ~-~-> 01:07:43,769
4387 high. And we have perfect symmetry in here comes right down
4388
4389 1098
4390 01:07:43,769 ~-~-> 01:07:48,299
4391 to the 797 tracing level. And reax breaks short term little
4392
4393 1099
4394 01:07:48,299 ~-~-> 01:07:51,929
4395 swing highs in here. So now if you've missed this one, you
4396
4397 1100
4398 01:07:51,929 ~-~-> 01:07:56,609
4399 could utilize the smaller market structure swings in here,
4400
4401 1101
4402 01:07:57,119 ~-~-> 01:07:59,279
4403 on intraday again, this is a five minute chart
4404
4405 1102
4406 01:08:00,809 ~-~-> 01:08:01,859
4407 And utilizing that
4408
4409 1103
4410 01:08:03,210 ~-~-> 01:08:06,690
4411 one could arrive at a buy signal in here around the 160 30
4412
4413 1104
4414 01:08:06,690 ~-~-> 01:08:09,570
4415 level. Now, if you're looking to buy that and take first
4416
4417 1105
4418 01:08:09,570 ~-~-> 01:08:13,860
4419 profit here based on optimal trade entry rules, and then
4420
4421 1106
4422 01:08:13,860 ~-~-> 01:08:16,920
4423 looking to take profits up here on the average daily range,
4424
4425 1107
4426 01:08:18,720 ~-~-> 01:08:21,420
4427 you may see it. The average daily range comes in today at
4428
4429 1108
4430 01:08:21,480 ~-~-> 01:08:25,350
4431 160 57. So if you're looking just to take profits up here,
4432
4433 1109
4434 01:08:25,920 ~-~-> 01:08:29,040
4435 and old highs, there's nothing wrong with that don't
4436
4437 1110
4438 01:08:29,070 ~-~-> 01:08:31,980
4439 collapse the entire position because you're trading with the
4440
4441 1111
4442 01:08:31,980 ~-~-> 01:08:34,350
4443 higher timeframe direction. Okay, we're going to look at
4444
4445 1112
4446 01:08:34,350 ~-~-> 01:08:37,080
4447 that in a moment. But let's just watch what happens as the
4448
4449 1113
4450 01:08:37,080 ~-~-> 01:08:41,550
4451 market trades on throughout the day. rallies up gives you an
4452
4453 1114
4454 01:08:41,550 ~-~-> 01:08:44,160
4455 opportunity to take profits here at the optimal trade entry
4456
4457 1115
4458 01:08:44,610 ~-~-> 01:08:51,060
4459 swing. Price comes up blows out these highs. Okay, so yeah,
4460
4461 1116
4462 01:08:51,060 ~-~-> 01:08:52,890
4463 this would have been a very handsome opportunity to take
4464
4465 1117
4466 01:08:52,890 ~-~-> 01:08:58,590
4467 profits. Okay, nice little intraday 20 pips, scalp but look
4468
4469 1118
4470 01:08:58,590 ~-~-> 01:09:07,200
4471 what happens. Here's your average daily range here. Okay? So
4472
4473 1119
4474 01:09:07,200 ~-~-> 01:09:09,180
4475 if you're taking profits with the expectation that this is
4476
4477 1120
4478 01:09:09,180 ~-~-> 01:09:11,970
4479 probably gonna be the high the day, you miss out on all
4480
4481 1121
4482 01:09:11,970 ~-~-> 01:09:15,960
4483 this, okay? So when you're in when you're in sync with the
4484
4485 1122
4486 01:09:15,960 ~-~-> 01:09:19,620
4487 higher time frame premise, okay? Watch what sometimes can
4488
4489 1123
4490 01:09:19,620 ~-~-> 01:09:23,760
4491 unfold, you have the range here. And what we're measuring
4492
4493 1124
4494 01:09:23,760 ~-~-> 01:09:27,480
4495 here is the average daily range, the average daily range.
4496
4497 1125
4498 01:09:29,789 ~-~-> 01:09:31,139
4499 When that breaks,
4500
4501 1126
4502 01:09:33,180 ~-~-> 01:09:36,120
4503 you could sometimes see twice the average daily range, you
4504
4505 1127
4506 01:09:36,120 ~-~-> 01:09:38,670
4507 can see how we have a little minor reaction here and still
4508
4509 1128
4510 01:09:38,670 ~-~-> 01:09:42,510
4511 it continues to move on higher. Okay. So now watch what also
4512
4513 1129
4514 01:09:42,510 ~-~-> 01:09:46,530
4515 you can do with Fibonacci. If you have the average daily
4516
4517 1130
4518 01:09:46,530 ~-~-> 01:09:49,650
4519 range here and it's broken and you still hold on to a
4520
4521 1131
4522 01:09:49,650 ~-~-> 01:09:52,890
4523 position and it starts to tear starts to run even further in
4524
4525 1132
4526 01:09:52,890 ~-~-> 01:09:57,300
4527 your anticipated direction. If you use that average daily
4528
4529 1133
4530 01:09:57,300 ~-~-> 01:10:05,190
4531 range high, pull your fib down to it. Okay, you have the 200
4532
4533 1134
4534 01:10:05,190 ~-~-> 01:10:08,040
4535 extension in here, look how that overlaps very handsomely
4536
4537 1135
4538 01:10:08,040 ~-~-> 01:10:11,370
4539 right there. Okay. So that would be a very nice objective to
4540
4541 1136
4542 01:10:11,370 ~-~-> 01:10:15,300
4543 take profits at. Okay? Nothing wrong with that. Add to that
4544
4545 1137
4546 01:10:15,300 ~-~-> 01:10:20,580
4547 also, if you use your expenses expansion tool
4548
4549 1138
4550 01:10:26,730 ~-~-> 01:10:29,760
4551 Okay, just go here and go your expansion, do the same
4552
4553 1139
4554 01:10:29,790 ~-~-> 01:10:32,310
4555 similar type thing, but we're going to use the low here and
4556
4557 1140
4558 01:10:32,310 ~-~-> 01:10:35,160
4559 it would just reverse it for sell signals. We're going to
4560
4561 1141
4562 01:10:35,190 ~-~-> 01:10:42,390
4563 pull the Fibonacci expansion tool up using the average daily
4564
4565 1142
4566 01:10:42,390 ~-~-> 01:10:47,970
4567 range range itself. Okay, let's get this off here. It may
4568
4569 1143
4570 01:10:47,970 ~-~-> 01:10:51,480
4571 not be bothering you but man is it bother me? The 200
4572
4573 1144
4574 01:10:51,480 ~-~-> 01:10:55,620
4575 expansion right here nailing the high the day. Okay, so you
4576
4577 1145
4578 01:10:55,620 ~-~-> 01:11:01,350
4579 can see how these concepts they blend there. Rather generic
4580
4581 1146
4582 01:11:01,350 ~-~-> 01:11:05,730
4583 and we have used them for years now on baby pips and my
4584
4585 1147
4586 01:11:05,730 ~-~-> 01:11:10,200
4587 YouTube channel. These are concepts that are repeatable,
4588
4589 1148
4590 01:11:10,230 ~-~-> 01:11:13,680
4591 they go on and on and on and on. But do not be hung up with
4592
4593 1149
4594 01:11:13,680 ~-~-> 01:11:18,090
4595 simply expecting the average daily range to new bracket the
4596
4597 1150
4598 01:11:18,090 ~-~-> 01:11:20,610
4599 market and Canada. Just because the average daily range
4600
4601 1151
4602 01:11:20,610 ~-~-> 01:11:24,210
4603 suggested price may stop here, it may pause like it does
4604
4605 1152
4606 01:11:24,210 ~-~-> 01:11:26,460
4607 here. And I'm sure there's a lot of traders in here that
4608
4609 1153
4610 01:11:26,460 ~-~-> 01:11:29,550
4611 took this and said, Well, you know, this is probably it.
4612
4613 1154
4614 01:11:29,640 ~-~-> 01:11:32,100
4615 We're hitting old resistance and there you go. There you go.
4616
4617 1155
4618 01:11:32,550 ~-~-> 01:11:35,370
4619 Now let's take a step back. Okay. And I'm going to do is
4620
4621 1156
4622 01:11:35,400 ~-~-> 01:11:40,380
4623 zoom out to a 15 minute chart. Okay, you start seeing rather
4624
4625 1157
4626 01:11:40,380 ~-~-> 01:11:45,090
4627 handsome price objectives. Okay, watch what happens here. We
4628
4629 1158
4630 01:11:45,090 ~-~-> 01:11:49,920
4631 have this swing down to this swing here. We have the 162
4632
4633 1159
4634 01:11:49,920 ~-~-> 01:11:53,850
4635 extension up in this same general area here so we have a lot
4636
4637 1160
4638 01:11:53,850 ~-~-> 01:11:57,600
4639 of Confluence to suggest there's possibly something else up
4640
4641 1161
4642 01:11:57,600 ~-~-> 01:12:01,710
4643 there in terms of profit taking We look at the larger price
4644
4645 1162
4646 01:12:01,710 ~-~-> 01:12:09,990
4647 swing here on this fractal. We have this range here. And
4648
4649 1163
4650 01:12:09,990 ~-~-> 01:12:15,840
4651 look what happens we have a 162. Extension, nailing the high
4652
4653 1164
4654 01:12:15,840 ~-~-> 01:12:18,780
4655 again, so we have a confluence of a lot of factors, looking
4656
4657 1165
4658 01:12:18,780 ~-~-> 01:12:23,400
4659 at 161 15 as a likely upside objective, which is well beyond
4660
4661 1166
4662 01:12:23,400 ~-~-> 01:12:26,760
4663 the average daily range high here does expect it to simply
4664
4665 1167
4666 01:12:26,760 ~-~-> 01:12:31,050
4667 using one tool by itself isn't enough guys, you gotta have a
4668
4669 1168
4670 01:12:31,050 ~-~-> 01:12:35,160
4671 confluence of things suggesting that this may be in fact,
4672
4673 1169
4674 01:12:36,090 ~-~-> 01:12:40,230
4675 going higher. You see that happening here? So let's go out
4676
4677 1170
4678 01:12:40,230 ~-~-> 01:12:43,770
4679 even further. And look at an hourly chart. You can see how
4680
4681 1171
4682 01:12:43,770 ~-~-> 01:12:49,620
4683 we had made a longer term swing low here, moves on higher we
4684
4685 1172
4686 01:12:49,620 ~-~-> 01:12:52,830
4687 consolidate it and look what we've formed in here. Okay, do
4688
4689 1173
4690 01:12:52,830 ~-~-> 01:12:56,850
4691 you see the ascending triangle here? ascending triangle, we
4692
4693 1174
4694 01:12:56,850 ~-~-> 01:13:01,170
4695 have price bouncing up against that 160 50 level. Okay, at
4696
4697 1175
4698 01:13:01,170 ~-~-> 01:13:05,580
4699 the same time, okay, at the same time, we expected the
4700
4701 1176
4702 01:13:05,580 ~-~-> 01:13:09,930
4703 dollar to break below its support level, okay, because we
4704
4705 1177
4706 01:13:09,930 ~-~-> 01:13:12,840
4707 have a descending triangle here. So we have symmetry between
4708
4709 1178
4710 01:13:12,840 ~-~-> 01:13:17,610
4711 the two markets. Okay? So we were looking for the 7970 level
4712
4713 1179
4714 01:13:17,610 ~-~-> 01:13:21,120
4715 or 7950 level respectively on the dollar. So we're expecting
4716
4717 1180
4718 01:13:21,150 ~-~-> 01:13:24,390
4719 weakness on the dollar, it's going to translate into higher
4720
4721 1181
4722 01:13:24,390 ~-~-> 01:13:28,650
4723 prices on the cable. And you see that unfold here. Okay, so
4724
4725 1182
4726 01:13:28,650 ~-~-> 01:13:30,870
4727 when you're trading in direction of the higher time frame
4728
4729 1183
4730 01:13:30,870 ~-~-> 01:13:34,050
4731 premise, don't be lulled into thinking that the average
4732
4733 1184
4734 01:13:34,050 ~-~-> 01:13:37,410
4735 daily range is going to block the market from trading any
4736
4737 1185
4738 01:13:37,410 ~-~-> 01:13:41,670
4739 further because it will not it Okay, it's just one tool,
4740
4741 1186
4742 01:13:41,760 ~-~-> 01:13:46,170
4743 okay? It's one premise to build your trading ideal and now
4744
4745 1187
4746 01:13:46,200 ~-~-> 01:13:48,120
4747 there's nothing wrong with taking profits at the average
4748
4749 1188
4750 01:13:48,120 ~-~-> 01:13:52,050
4751 daily range. But again, this is the reason why we just scale
4752
4753 1189
4754 01:13:52,050 ~-~-> 01:13:58,230
4755 some out because we don't know if it's going to be halting
4756
4757 1190
4758 01:13:58,470 ~-~-> 01:14:02,280
4759 at that price level or Not continue on obviously, today's
4760
4761 1191
4762 01:14:02,280 ~-~-> 01:14:06,270
4763 being a perfect example of that. So go over your charts and
4764
4765 1192
4766 01:14:06,270 ~-~-> 01:14:11,580
4767 look at when the average daily range was broken and was not
4768
4769 1193
4770 01:14:11,580 ~-~-> 01:14:14,070
4771 able to hold price back and I think you'll be pleasantly
4772
4773 1194
4774 01:14:14,070 ~-~-> 01:14:16,830
4775 surprised. It's always in the sense that you're trading with
4776
4777 1195
4778 01:14:16,830 ~-~-> 01:14:18,120
4779 a higher time frame premise.
4780
4781 1196
4782 01:14:18,540 ~-~-> 01:14:20,610
4783 I just hope it's been a blessing to you. And
4784
4785 1197
4786 01:14:20,760 ~-~-> 01:14:23,160
4787 sincerely absolutely wishing Good luck.