ICT-WENT-03.srt
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ICT: Okay, folks, essentials to market
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structure. And this module is going to
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be really based upon the premise of
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looking towards helping you educate
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yourself in determining trade direction.
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This is probably one of the most
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reoccurring email inquiries and posts
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that you see in the forums directed to
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me. It's Michael, obviously to share a
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little further amplification on some of
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the concepts that I use in determining
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trade direction. And hopefully, this
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will be insightful for you. But what do
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we do when we sit down from the charts?
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What's the primary function as a trader?
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Well, you as a forex trader Do you want
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to be finding your way through price?
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And as a new trader, I can understand
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how daunting this task may be because
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there's so many different timeframes.
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You have your monthly, weekly daily for
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hour, one hour, 15 minutes or five
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minutes or one minute chart, you have
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tick charts, all these different
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timeframes, it's very bewildering
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sometimes, if you understand really what
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it is you'd be doing in breaking it
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down, breaking down price in a uniform
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structured way. So first thing I'm going
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to really counsel you on is your primary
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objective is to know your timeframe that
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you're trading, okay. And it gets back
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to what type of trader you're going to
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be, are you going to be a position
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trader, you're gonna be a swing trader,
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a short term trader Are you gonna be a
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day trader or a scalper? I can't teach
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you how to find the correct style trader
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that's within you. That's all part of
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your personal makeup. So this module
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much in the same capacity as my other
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modules have been They're going to speak
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in general terms, okay? But it's going
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to give you enough insight for you to be
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able to determine what it is that you
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need to be focusing on for you to find
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the most optimal way of trading for you
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yourself, okay? Because each of us are
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going to be different. As you grow and
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you mature as a trader, you may be multi
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timeframe based in terms of trading
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alerts, I consider myself a dynamic
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trader simply because I can trade any
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one of these timeframes. Now I excel in
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the short term to swing trading area,
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but I can day trade, I can scalp but I
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prefer not to. It would be my advice to
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you is if you can try to work within the
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short term to day trading in the
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beginning because it's going to give you
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the most immediate feedback and it's
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going to give you the confidence you
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need to be sticking to a plan because
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obviously, as a position trader, you
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don't have a whole lot of opportunities
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materializing Do that frequently. Swing
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Trading again, same capacity, it's going
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to be a little a little while between
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each setup. So it's gonna be harder for
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a new trader looking to find themselves
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to wait between the signals and stick
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within that specific framework for
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trading. So short term trading, day
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trading and scalping is this void that
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for now, but we will talk about how you
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can utilize these concepts for scalping.
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But, again, short term and day trades.
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If you're brand new to price action,
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those are very rewarding because they
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give you immediate feedback, new traders
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sometimes need. So let's talk about what
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the professional perspective is when
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we're applying market structure. Well,
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obviously, for position trades, this is
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going to be anywhere between three to as
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much as six to six months to a year in
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terms of duration. Now, I don't have a
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whole lot of types of trades like this,
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but
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every three to four months in the
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marketplace, whether it be in stocks or
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commodities or Forex. There is a
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specific swing that manifest itself and
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we talked about that in other videos and
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other teaching. I'm not going to cover
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that here but if you are that type of
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trader, obviously the three timeframes
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that you would utilize to break down
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market structure for your particular
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market would obviously be monthly, the
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weekly and the daily Okay, monthly being
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your highest timeframe, you weekly being
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your midline or mid level timeframe and
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then you have your daily that would be
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your short term. Now, as a swing trader,
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okay, your premise for breaking down
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market structure will be comprised over
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looking at the daily the four hour and
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the one hour chart okay. Your setup will
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be based upon what you see on the higher
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time frame the daily much in the same
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capacity for position trade. The monthly
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will be your position trade premise,
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whereas if we are considerably
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overbought and there should be some kind
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of a topping formation on a monthly
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chart You would look to see market
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structure break down on a weekly and
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daily to facilitate a short position.
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Well on a swing trade model, you utilize
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that same measure of market structure by
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utilizing the highest timeframe for
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swing trades. And this approach would be
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the daily chart and then breaking that
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down into four hour chart, and then
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lesser price action study in the one
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hour chart. So you'll be timing on the
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one hour you will be managing on the
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four hour and the premise or the trade
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idea will be built upon the highest
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timeframe which would be the daily
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chart, okay, and the swing traders model
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here. If you're a short term trader,
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obviously, the duration of time for
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these types of trades could be anywhere
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between one day to as much as a week or
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so. Swing Trading is about a week or
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more in terms of trade duration. I
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forgot to mention that. But for short
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term trades up Using the four hour chart
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for your trade premise or your
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directional bias, and then on the one
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hour chart, that would be your trade
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management or mid level timeframe. And
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then your 15 minute chart would be
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utilized for your timing for entry and
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possibly looking for early reversal
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signs that your trade may be petering
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out and it's time to take profits. For
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day trades, obviously, you can see it's
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the one hour chart and be highest
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timeframe, you would be managing your
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trade on the 15 minute timeframe. And
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your five minute chart will be utilized
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to enter. Now, it's not to say that you
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can't use a five minute chart on the
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short term swing and position trades for
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entry. Okay, I'm giving you the
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framework for at least having three
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timeframes across the spectrum of your
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trading and how you break down market
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structure over these three specific
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timeframes for each Individual trading
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model will give you again, the building
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blocks to flesh out what you need to see
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in terms of directional bias. Okay? So
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let's take a look closer look at price,
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action and market structure. Now the
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keys to multiple timeframe market
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structure, okay are rather simple.
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Where's your focus? Your focus should be
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on the highest of the three timeframes.
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trades will be managed by the highest or
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mid timeframes. Okay, in other words, if
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you are a swing trader, you're going to
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be utilizing that daily timeframe to
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manage or the four hour chart to manage
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your trade, okay, but the daily is going
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to be utilized to facilitate the trade
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premise. In other words, that's going to
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give you your directional bias okay the
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market structure that is one the daily
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chart That's framing your swing trades.
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Okay, once you get into a trade, you'd
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be managing that trade on a four hour
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time frame,
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and you would just use respective
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timeframes we just talked about in the
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previous slide and then your one hour
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chart would be used for timing purposes,
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okay. So, the shortest time frame in
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that regard for swing trading would be
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the 60 minute chart. So, your entry
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signals would be derived from having
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studied the market structure on the
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daily and the four hour then your one
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hour chart was facilitate the specific
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entry point. Okay, so you know, what you
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would do your entry concepts and
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techniques on the one hour chart for
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swing trades. The highest probability
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trades are made in the higher timeframe
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direction, okay. Now, there are going to
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be instances where the higher time frame
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premise may be bullish, but your
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approach A key resistance level. So that
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may be trumped. So that's where we're
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going to go back to the core essentials
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to technical analysis that being support
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resistance trumps everything. Okay?
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Without the understanding of key support
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resistance levels, you're not going to
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get to a directional bias, regardless of
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what trading model you're using
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position, day trading, whatever it is,
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if it's not framed on the premise of key
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support resistance levels, it's probably
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going to be a struggling point for you
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as well. Okay, so you have to go back to
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the core essentials to my concepts and
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just sound trading all together. Key
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support resistance levels are where it's
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all at, okay, without those, all of
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these lines and all these procedures
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that we're going to be covering here,
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and we've covered in previous videos and
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such is going to do no good to you,
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okay. So you have to understand what is
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a key support resistance level. So if
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you are looking at the highest timeframe
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for your particular month, That will
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hopefully draw your attention to
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whatever key support resistance level at
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that point in price action. Obviously,
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you can always go out to a daily and
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weekly just as a catch all as far as
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whatever timeframe you're trading if you
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just look at a daily weekly in terms of
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support resistance, those will be
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helpful to you. Now, the market profiles
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will also assist you in market structure
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analysis concepts that means are we in a
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trending market? Are we in a reversal
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pattern or formation or that type of
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profile in the marketplace? And are we
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in a consolidation, preparing for a
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breakout scenario? Okay, so, market
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profiling is essential to helping you
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and assisting you and measuring what the
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current market structure is okay, now,
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are we bullish or bearish? All right.
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Well, we're looking at market structure,
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we're referring to market structure.
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What are we speaking about? What's the
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what is the network trying to get at?
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Okay? Well, if you look at a price,
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rally up, and then price hitting a major
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resistance level, we're going to assume
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for a moment that this is your higher
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timeframe. Okay? And I'm going to keep
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it generic because that way you can
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apply it to whatever your higher
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timeframe is based on the model traded
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you are aiming to be as price rallies up
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into what we perceive as a higher level,
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key resistance level. Price never moves
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in a straight line. Okay, so there's
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going to be a consolidation, a price
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move up another consolidation, a price
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00:11:51,090 --> 00:11:53,910
move up and then as price makes it into
271
00:11:53,910 --> 00:11:56,370
this resistance level, then we'd be
272
00:11:56,370 --> 00:11:59,220
anticipating a reversal. So when markets
273
00:11:59,580 --> 00:12:02,850
start to Break down, taking out the
274
00:12:02,850 --> 00:12:06,720
short term swing lows in here, this
275
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short term swing low on the highest
276
00:12:08,970 --> 00:12:10,830
timeframe for your particular trading
277
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model. Once that breaks, this would be
278
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the catalyst for you to say okay, this
279
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is probably going to be an optimal trade
280
00:12:17,880 --> 00:12:20,430
entry based on the higher time frame
281
00:12:21,570 --> 00:12:25,170
chart of your profile. Okay, so for an
282
00:12:25,170 --> 00:12:27,120
example, let's just say that this is a
283
00:12:29,340 --> 00:12:31,380
monthly chart, and you're looking for a
284
00:12:31,380 --> 00:12:33,420
position trade, okay, at the monthly
285
00:12:33,420 --> 00:12:35,070
hits a key resistance level like this,
286
00:12:35,430 --> 00:12:36,990
and it comes down and takes out a short
287
00:12:36,990 --> 00:12:39,390
term low and a monthly we know now that
288
00:12:39,390 --> 00:12:41,880
market structure has broken Okay, so we
289
00:12:41,880 --> 00:12:44,040
have a market structure shift
290
00:12:44,190 --> 00:12:47,610
right here. Okay. Now, we don't know
291
00:12:47,610 --> 00:12:49,080
what price is doing over here. This is
292
00:12:49,080 --> 00:12:50,880
all in the future. We're anticipating
293
00:12:50,880 --> 00:12:52,650
these types of events in terms of price
294
00:12:52,650 --> 00:12:54,510
action, but until we actually get there
295
00:12:54,510 --> 00:12:56,550
starts trading. We can't deal with that
296
00:12:56,550 --> 00:12:59,910
yet. So it's all in anticipation in our
297
00:12:59,910 --> 00:13:03,180
in disappeared, anticipatory model. As
298
00:13:03,180 --> 00:13:05,580
far as our framework and thinking about
299
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price action, this is what we would
300
00:13:07,740 --> 00:13:10,560
expect to see once this structure has
301
00:13:10,560 --> 00:13:13,410
been broken. Okay. But as price starts
302
00:13:13,410 --> 00:13:16,380
to rally up, we don't anticipate seeing
303
00:13:17,700 --> 00:13:19,770
a break through this resistance level.
304
00:13:19,980 --> 00:13:22,680
Okay, if we arrived this as a possible
305
00:13:22,680 --> 00:13:24,630
resistance level, we would expect the
306
00:13:24,630 --> 00:13:26,100
retracement for an optimal trade entry,
307
00:13:26,100 --> 00:13:27,900
but then we would zoom in in this area
308
00:13:27,900 --> 00:13:31,440
right here. Okay, on a weekly timeframe
309
00:13:31,710 --> 00:13:34,470
to hone in on more key shorter term
310
00:13:34,470 --> 00:13:37,920
timeframe price levels. And then by
311
00:13:37,920 --> 00:13:42,390
zooming in, okay, we would possibly see
312
00:13:42,480 --> 00:13:44,910
a shorter term optimal trade entry or
313
00:13:45,300 --> 00:13:49,140
respective sell pattern to, you know,
314
00:13:49,560 --> 00:13:51,210
convince us even further that this is
315
00:13:51,210 --> 00:13:53,640
probably going to be a selling scenario.
316
00:13:54,120 --> 00:13:55,680
If we move down into a daily and see
317
00:13:55,680 --> 00:13:58,290
something even similar to that, okay,
318
00:13:58,290 --> 00:13:59,970
you would have all these nesting times
319
00:14:00,000 --> 00:14:03,180
allowances of implied resistance levels,
320
00:14:03,330 --> 00:14:05,670
once a higher timeframe, market
321
00:14:05,670 --> 00:14:07,170
structure is broken down, then we would
322
00:14:07,170 --> 00:14:09,900
be able to position ourselves in sync
323
00:14:10,320 --> 00:14:12,930
with a top down approach with market
324
00:14:12,930 --> 00:14:15,510
structure. Okay. And then as price
325
00:14:15,510 --> 00:14:18,240
starts to trade down, this is the gray
326
00:14:18,240 --> 00:14:19,800
area, all these areas where there's
327
00:14:19,800 --> 00:14:22,950
missing gaps. Okay, that's intentional.
328
00:14:23,310 --> 00:14:26,130
Okay. We don't know what's going to take
329
00:14:26,130 --> 00:14:28,380
place between the time where we see an
330
00:14:28,380 --> 00:14:30,630
entry point, and where we expect to see
331
00:14:30,630 --> 00:14:32,310
price get to in terms of our targets,
332
00:14:32,310 --> 00:14:33,690
and we'll talk more about that later on.
333
00:14:34,380 --> 00:14:36,240
But this is the gray area where you have
334
00:14:36,240 --> 00:14:37,920
to be comfortable with okay, because you
335
00:14:37,920 --> 00:14:39,900
don't know what's going to happen from
336
00:14:39,960 --> 00:14:42,510
your entry point. And your expected exit
337
00:14:42,510 --> 00:14:44,130
point. Okay. You don't know if it's
338
00:14:44,130 --> 00:14:45,630
going to go down there. Okay. You don't
339
00:14:45,630 --> 00:14:46,740
know if it's gonna reverse and take you
340
00:14:46,740 --> 00:14:49,140
out of the trade. Okay. But the overall
341
00:14:49,140 --> 00:14:51,900
framework, okay, or price structure.
342
00:14:52,500 --> 00:14:54,630
Okay, this is how market structure is
343
00:14:54,630 --> 00:14:58,290
built. Okay, this is a price rally and a
344
00:14:58,290 --> 00:15:03,600
decline okay. We have consolidation if
345
00:15:03,600 --> 00:15:05,220
we expect to see some kind of a rally in
346
00:15:05,220 --> 00:15:06,840
here something's bullish that we would
347
00:15:06,840 --> 00:15:09,270
expect support at as price starts to
348
00:15:09,270 --> 00:15:12,330
rally up, okay? We could be utilizing
349
00:15:12,330 --> 00:15:15,210
our mid level or shorter term level
350
00:15:15,990 --> 00:15:20,490
timeframes tick to see. bullishness
351
00:15:20,520 --> 00:15:22,770
Okay, we want to see support being held
352
00:15:22,770 --> 00:15:25,800
resistance being broken, okay? And every
353
00:15:25,800 --> 00:15:27,480
time price starts to pull back and
354
00:15:27,480 --> 00:15:29,730
retrace in here, the market structure
355
00:15:29,760 --> 00:15:31,560
concept that you would be utilizing it
356
00:15:31,560 --> 00:15:33,810
would be to simply look for optimal
357
00:15:33,810 --> 00:15:37,050
trade entries. Okay for buys, you would
358
00:15:37,050 --> 00:15:39,180
be looking for reflections to buy you'd
359
00:15:39,180 --> 00:15:41,610
be looking for type two trend following
360
00:15:41,940 --> 00:15:43,440
bullish scenario. So in other words in
361
00:15:43,440 --> 00:15:46,440
all this area here, you'd be looking for
362
00:15:48,510 --> 00:15:50,430
price finding support and resistance
363
00:15:50,430 --> 00:15:52,230
being broken. Okay. It's that it's that
364
00:15:52,230 --> 00:15:54,120
simple. That's the whole framework
365
00:15:54,540 --> 00:15:57,240
behind market structure. And its price
366
00:15:57,240 --> 00:15:58,920
rallies up into another shorter term or
367
00:15:58,920 --> 00:16:00,630
me It's from resistance Level one here.
368
00:16:02,250 --> 00:16:04,770
price will hopefully find some support.
369
00:16:04,980 --> 00:16:06,840
Okay, but if it does start to break
370
00:16:06,840 --> 00:16:10,230
down, be comfortable with price coming
371
00:16:10,230 --> 00:16:12,930
back and blowing out previous lows in
372
00:16:12,930 --> 00:16:15,180
here, okay, there may be an important
373
00:16:15,180 --> 00:16:18,420
load it's taking place and trailing stop
374
00:16:18,420 --> 00:16:19,920
loss orders would be trailed up below
375
00:16:19,920 --> 00:16:22,770
that particular point. Okay, so as price
376
00:16:22,770 --> 00:16:24,510
dips back down all that's going to do is
377
00:16:24,510 --> 00:16:26,340
give you another opportunity to get
378
00:16:26,340 --> 00:16:29,190
long. Okay, now again let's think for a
379
00:16:29,190 --> 00:16:30,840
moment this is the higher time frame
380
00:16:30,840 --> 00:16:32,700
premise, okay, this is the highest
381
00:16:32,700 --> 00:16:35,880
timeframe chart when we start seeing
382
00:16:35,880 --> 00:16:37,590
this consolidation in here and we see
383
00:16:37,590 --> 00:16:39,090
the higher level resistance level
384
00:16:39,090 --> 00:16:41,370
because these are all noon in advance
385
00:16:41,370 --> 00:16:42,810
this is why we have support resistance
386
00:16:42,810 --> 00:16:45,630
studies done. This is all part of our
387
00:16:45,630 --> 00:16:47,790
top down analysis seeing where price may
388
00:16:47,790 --> 00:16:50,370
be reaching for. So if we start seeing
389
00:16:50,370 --> 00:16:51,780
price rally up in here and then
390
00:16:51,780 --> 00:16:54,540
consolidate again. And this is another
391
00:16:54,540 --> 00:16:56,730
higher level key resistance level. If
392
00:16:56,730 --> 00:16:59,190
price continues to maintain support and
393
00:16:59,190 --> 00:17:01,800
breaks above All these short term highs
394
00:17:01,800 --> 00:17:05,490
in here, the market structure implies
395
00:17:05,490 --> 00:17:07,740
that we could possibly see a leg from
396
00:17:07,770 --> 00:17:09,720
this low or whatever low would form back
397
00:17:09,720 --> 00:17:12,900
here to this high duplicated on a
398
00:17:12,900 --> 00:17:15,330
retracement here from this low to this
399
00:17:15,330 --> 00:17:22,050
high. The same thing can be said with
400
00:17:22,170 --> 00:17:25,500
market declines and reversals going
401
00:17:25,500 --> 00:17:25,890
along.
402
00:17:27,420 --> 00:17:29,370
Every time we see a consolidation,
403
00:17:29,730 --> 00:17:31,890
consolidations, you want to study these
404
00:17:32,220 --> 00:17:35,460
for shorter term, more dynamic support
405
00:17:35,460 --> 00:17:38,670
resistance levels. These areas are more
406
00:17:39,060 --> 00:17:40,890
easily tradable because they have
407
00:17:40,890 --> 00:17:43,440
discernible price levels. They're very
408
00:17:43,440 --> 00:17:46,560
clear. We don't know how it's going to
409
00:17:46,560 --> 00:17:49,650
take price. From these consolidations to
410
00:17:49,650 --> 00:17:51,150
the next consolidation. We don't know
411
00:17:51,150 --> 00:17:54,390
that we anticipate that gray area that's
412
00:17:54,390 --> 00:17:56,400
missing these little pieces of market
413
00:17:56,400 --> 00:17:58,650
structure that's missing. I left that
414
00:17:58,650 --> 00:18:00,330
out because I want you to think Like
415
00:18:00,330 --> 00:18:03,600
this, okay, it's, it's a little
416
00:18:03,600 --> 00:18:06,240
confusing Now, I understand. But if you
417
00:18:06,240 --> 00:18:10,740
apply this same general I don't want to
418
00:18:10,740 --> 00:18:14,790
say, profile but this diagram, okay, in
419
00:18:14,790 --> 00:18:17,490
other words in terms of how I have price
420
00:18:17,490 --> 00:18:20,640
lows, illustrated here. If you look at
421
00:18:20,640 --> 00:18:24,150
how price declines actually materialize,
422
00:18:24,600 --> 00:18:27,210
you'll start to see these lows form like
423
00:18:27,210 --> 00:18:29,310
this and inside of these consolidations
424
00:18:29,310 --> 00:18:32,190
and in every swing load it forms,
425
00:18:32,760 --> 00:18:35,940
there's going to be discernible auto
426
00:18:35,940 --> 00:18:38,340
trade entries or reflection patterns, or
427
00:18:38,340 --> 00:18:41,970
generally fractal patterns. Okay? So you
428
00:18:41,970 --> 00:18:45,270
would apply these concepts, okay, with
429
00:18:45,270 --> 00:18:48,300
all the other concepts we've previously
430
00:18:48,300 --> 00:18:52,230
discussed. But looking at obviously a
431
00:18:52,230 --> 00:18:54,450
higher level key support level down here
432
00:18:54,810 --> 00:18:58,680
as a catalyst, okay. So as price moves
433
00:18:58,680 --> 00:19:00,660
from a consolidation down into a new
434
00:19:00,660 --> 00:19:03,000
consolidation, much in the same capacity
435
00:19:03,000 --> 00:19:05,460
we just saw with the bullish move,
436
00:19:05,610 --> 00:19:06,990
reaching up into a higher level
437
00:19:06,990 --> 00:19:09,870
resistance level, we could be seeing a
438
00:19:09,870 --> 00:19:12,030
consolidation in here with this higher
439
00:19:12,030 --> 00:19:14,610
level of support level down here. This
440
00:19:14,610 --> 00:19:16,320
would be where price may be reaching
441
00:19:16,320 --> 00:19:18,690
for. So if it's consolidating here, we
442
00:19:18,690 --> 00:19:21,210
could look for a move from whatever high
443
00:19:21,210 --> 00:19:24,870
forms here to this low, okay? duplicated
444
00:19:24,870 --> 00:19:26,580
from this high or whatever high forms in
445
00:19:26,580 --> 00:19:29,730
this area down to this low. Okay, so,
446
00:19:30,030 --> 00:19:33,330
while this diagram is fragmented, okay,
447
00:19:34,200 --> 00:19:36,210
think of in terms of the market maker
448
00:19:36,210 --> 00:19:38,400
profiles that I just recently shared
449
00:19:38,400 --> 00:19:41,040
with you guys this year. You see that
450
00:19:41,040 --> 00:19:44,040
same premise here as well. I don't need
451
00:19:44,040 --> 00:19:45,090
to draw the lines in here. You can
452
00:19:45,090 --> 00:19:47,430
actually probably remember by the way
453
00:19:47,430 --> 00:19:49,770
the profile was given to you. You can
454
00:19:49,770 --> 00:19:52,440
actually see it in here. Okay. So as
455
00:19:52,440 --> 00:19:55,290
prices engineer to go lower down into a
456
00:19:55,290 --> 00:19:57,510
support level, ultimately to trade
457
00:19:57,510 --> 00:19:59,880
higher. This is the building blocks that
458
00:19:59,880 --> 00:20:04,380
we Work with Okay. Now, because we have
459
00:20:04,380 --> 00:20:06,480
to live in the gray area and not
460
00:20:08,160 --> 00:20:10,320
expected a simple black and white
461
00:20:10,590 --> 00:20:12,810
premise to trading. When we see
462
00:20:12,810 --> 00:20:14,820
consolidation here and price moved down
463
00:20:14,820 --> 00:20:16,500
to a new area of consolidation and price
464
00:20:16,500 --> 00:20:17,670
moves down to a new cup area
465
00:20:17,670 --> 00:20:19,500
consolidation. And then we have short
466
00:20:19,500 --> 00:20:22,260
term breaks on market structure. Okay,
467
00:20:22,260 --> 00:20:23,610
and then once we have a shift in market
468
00:20:23,610 --> 00:20:25,350
structure right here, as price trades
469
00:20:25,350 --> 00:20:27,210
down then that support level. Again,
470
00:20:27,210 --> 00:20:28,680
this is all assuming this is the highest
471
00:20:28,680 --> 00:20:30,900
level of your three timeframes that
472
00:20:30,900 --> 00:20:32,850
you're trading with for your particular
473
00:20:32,850 --> 00:20:35,820
trading model. When you see this shift
474
00:20:35,820 --> 00:20:37,470
in market structure here, we would
475
00:20:37,470 --> 00:20:39,750
anticipate seeing a bullish move higher.
476
00:20:40,260 --> 00:20:42,600
But here's where we enter a new level of
477
00:20:43,500 --> 00:20:46,230
gray. When we move into this new
478
00:20:46,230 --> 00:20:48,900
consolidation in here, this may not
479
00:20:48,900 --> 00:20:51,870
always translate into even higher prices
480
00:20:51,900 --> 00:20:54,300
going up like we have here implied it
481
00:20:54,300 --> 00:20:56,400
could be just reaching up to go back to
482
00:20:56,400 --> 00:20:58,800
this range from this old high to this
483
00:20:58,800 --> 00:21:00,870
low member inside the room. concepts.
484
00:21:01,170 --> 00:21:03,660
Okay? So you have to have that in mind.
485
00:21:03,660 --> 00:21:04,710
So that's why if you're going to be
486
00:21:04,710 --> 00:21:08,310
getting long down here, you'd expect to
487
00:21:08,310 --> 00:21:10,590
see some type of of profit taking here.
488
00:21:11,190 --> 00:21:13,410
Right? And you'd be able to see that
489
00:21:13,440 --> 00:21:16,290
utilizing your mid level chart. Okay?
490
00:21:16,740 --> 00:21:19,560
For your swing projections. Okay, we'll
491
00:21:19,560 --> 00:21:21,810
talk about that more as we go on. But
492
00:21:22,380 --> 00:21:24,450
generally, as you see price come down in
493
00:21:24,450 --> 00:21:26,580
here every time price retraces and gives
494
00:21:26,580 --> 00:21:28,620
you new optimal trade entries. That's
495
00:21:28,620 --> 00:21:30,150
what you're looking for. You want to see
496
00:21:30,300 --> 00:21:33,030
price holding support, breaking
497
00:21:33,030 --> 00:21:35,130
resistance, okay, on this side of the
498
00:21:37,079 --> 00:21:39,389
support level being found, but as we're
499
00:21:39,419 --> 00:21:41,039
trading down into that support level,
500
00:21:41,039 --> 00:21:43,289
we're anticipating market structure to
501
00:21:43,529 --> 00:21:46,529
break lows and find resistance, break
502
00:21:46,529 --> 00:21:49,739
lows, find resistance, break lows, find
503
00:21:49,739 --> 00:21:51,869
resistance, okay, so every new
504
00:21:51,869 --> 00:21:54,509
consolidation, if we're expecting price
505
00:21:54,509 --> 00:21:56,219
reaching down to our higher level
506
00:21:56,549 --> 00:21:59,219
support level, okay on a highest level
507
00:21:59,219 --> 00:22:01,589
chart That's why we do our analysis on
508
00:22:01,589 --> 00:22:02,669
the highest level because you want to
509
00:22:02,669 --> 00:22:04,619
see where price is probably reaching
510
00:22:04,619 --> 00:22:07,469
for. And by seeing where the highest
511
00:22:07,469 --> 00:22:09,359
level chart in our particular trading
512
00:22:09,359 --> 00:22:12,869
model is reaching for. Again, we don't
513
00:22:12,869 --> 00:22:14,039
know for certain that they're always
514
00:22:14,039 --> 00:22:15,749
going to get there. But if you look in
515
00:22:15,749 --> 00:22:18,029
these higher level charts, it's going to
516
00:22:18,029 --> 00:22:19,619
give you the highest probability in
517
00:22:19,619 --> 00:22:22,529
terms of success. If price doesn't get
518
00:22:22,529 --> 00:22:24,089
to these particular points and we start
519
00:22:24,089 --> 00:22:28,829
seeing early market shifts in market
520
00:22:28,829 --> 00:22:31,499
structure, this could be a catalyst for
521
00:22:31,529 --> 00:22:33,809
you know, another type of trade, okay,
522
00:22:33,809 --> 00:22:36,029
we could possibly get along in here and
523
00:22:36,029 --> 00:22:37,529
maybe reach up into the range from the
524
00:22:37,529 --> 00:22:40,049
high to this low here, that may be a
525
00:22:40,049 --> 00:22:43,679
means of profitability should be a good
526
00:22:43,679 --> 00:22:47,369
reward to risk scenario here, okay, you
527
00:22:47,369 --> 00:22:48,899
three to one could still exist within
528
00:22:48,899 --> 00:22:51,449
that fine at that framework of price
529
00:22:51,449 --> 00:22:55,469
action. Okay. But again, even if that
530
00:22:55,469 --> 00:22:58,469
happens, we could still take some short
531
00:22:58,469 --> 00:23:01,619
term trades in here. But that may be a
532
00:23:01,619 --> 00:23:05,609
very, very short term bias, only taking
533
00:23:05,609 --> 00:23:09,149
you up to a higher level bias to get
534
00:23:09,149 --> 00:23:12,779
lower support levels here taken out,
535
00:23:12,899 --> 00:23:14,699
okay, in other words, it used to be,
536
00:23:14,759 --> 00:23:16,379
you're gonna have to blend some concepts
537
00:23:16,379 --> 00:23:18,329
here, the inside the range concepts,
538
00:23:19,079 --> 00:23:22,019
simply looking at lower lows and lower
539
00:23:22,019 --> 00:23:24,929
highs. Okay, if we do get a short term
540
00:23:24,929 --> 00:23:26,939
bounce in here between the high that's
541
00:23:26,939 --> 00:23:31,319
formed here and the low here. This could
542
00:23:31,319 --> 00:23:32,939
be creating an ultimate trade entry to
543
00:23:32,939 --> 00:23:35,189
get that fulfillment of this lower level
544
00:23:35,189 --> 00:23:36,269
support level down here.
545
00:23:42,060 --> 00:23:44,880
Now, again, we've seen this diagram
546
00:23:44,880 --> 00:23:49,110
before, assuming that we have a high up
547
00:23:49,110 --> 00:23:52,140
in here reaching into resistance. As
548
00:23:52,140 --> 00:23:54,180
price breaks this short term low here
549
00:23:54,180 --> 00:23:57,450
the market structure is broken. So as
550
00:23:57,450 --> 00:23:59,460
price starts to retrace every time it
551
00:23:59,460 --> 00:24:01,200
retraces We're looking for new selling
552
00:24:01,200 --> 00:24:04,950
opportunities. But if we see a previous
553
00:24:04,950 --> 00:24:07,020
swing as we see here, see this price
554
00:24:07,020 --> 00:24:11,010
swing here? Okay, if this levels taken
555
00:24:11,010 --> 00:24:15,720
out here, if we get a retracement or
556
00:24:15,720 --> 00:24:18,270
another additional sell signal. This is
557
00:24:18,270 --> 00:24:21,510
where we use swing projections just on
558
00:24:21,510 --> 00:24:23,310
price. We're not using Fibonacci you
559
00:24:23,310 --> 00:24:26,040
can, but just looking at simple price
560
00:24:26,040 --> 00:24:29,310
action alone, this low to high once it's
561
00:24:29,310 --> 00:24:31,860
broken, you can start taking this same
562
00:24:31,920 --> 00:24:34,920
measurable swing from this point here
563
00:24:34,950 --> 00:24:38,400
down to that same level and projected
564
00:24:38,400 --> 00:24:41,010
lower. Okay, and you get somewhere in
565
00:24:41,010 --> 00:24:43,110
this area here. Now I purposely allowed
566
00:24:43,650 --> 00:24:45,390
the diagram to be a little bit farther
567
00:24:46,320 --> 00:24:49,680
because I teach to exit on the trade
568
00:24:49,680 --> 00:24:52,020
before the actual objective is met.
569
00:24:52,470 --> 00:24:55,830
Okay, so every time we see a broken
570
00:24:55,830 --> 00:24:58,200
swing, okay, this is a swing. It's
571
00:24:58,200 --> 00:24:59,970
broken here. And the Lord says hello
572
00:25:00,000 --> 00:25:01,800
Here are whatever load would have formed
573
00:25:01,800 --> 00:25:04,530
in here. I'm assuming that you can see
574
00:25:04,530 --> 00:25:07,620
this as this as a swing. When it's
575
00:25:07,620 --> 00:25:10,860
broken, right here, we went below here,
576
00:25:11,580 --> 00:25:14,280
if we retrace back into it, okay, I'm
577
00:25:14,280 --> 00:25:16,170
also purposely drew this a little bit
578
00:25:16,170 --> 00:25:17,880
past what would be expected as
579
00:25:17,910 --> 00:25:22,380
resistance. I've purposely allowed this
580
00:25:22,500 --> 00:25:25,440
to move beyond this low here to
581
00:25:25,440 --> 00:25:27,630
illustrate how support resistance can be
582
00:25:29,490 --> 00:25:31,470
gray as well, it's not black and white,
583
00:25:31,470 --> 00:25:32,820
you're going to have to allow some
584
00:25:32,820 --> 00:25:34,590
flexibility with price. So when it
585
00:25:34,590 --> 00:25:37,590
starts to pull back deeper, okay, this
586
00:25:37,590 --> 00:25:38,970
still could set up the optimal trade
587
00:25:38,970 --> 00:25:41,460
entry. Okay, and while this isn't the
588
00:25:41,460 --> 00:25:44,340
exact level price was able to stave off
589
00:25:44,340 --> 00:25:47,160
a rally, it still was working within the
590
00:25:47,160 --> 00:25:50,460
previous range here and this PI here as
591
00:25:50,460 --> 00:25:53,130
well, so we're still within a bearish
592
00:25:53,670 --> 00:25:56,370
market structure. So don't be lulled
593
00:25:56,370 --> 00:25:58,020
into thinking this is going to be a long
594
00:25:58,020 --> 00:26:00,000
to go higher. Assuming again, this is
595
00:26:00,000 --> 00:26:03,240
The higher level resistance level. And
596
00:26:03,240 --> 00:26:04,590
again, every little short term
597
00:26:04,590 --> 00:26:07,680
retracement here could be a catalyst for
598
00:26:07,680 --> 00:26:09,990
an additional entry using our smallest
599
00:26:09,990 --> 00:26:12,780
of the three timeframes. Again, this is
600
00:26:12,780 --> 00:26:14,370
all modeling off of the highest
601
00:26:14,370 --> 00:26:16,800
timeframe, okay and then assuming once
602
00:26:16,800 --> 00:26:20,190
we get this broken down this swing low
603
00:26:20,190 --> 00:26:22,110
here broken we could utilize the mid
604
00:26:22,110 --> 00:26:25,770
level chart for additional entries and
605
00:26:25,770 --> 00:26:27,570
or managing of a position that's already
606
00:26:27,570 --> 00:26:29,970
been assumed based on the highest of the
607
00:26:29,970 --> 00:26:33,450
three timeframes. Now as price also
608
00:26:33,450 --> 00:26:36,300
breaks down these swings are just swing
609
00:26:36,330 --> 00:26:38,430
up once it's broken, okay, this is an
610
00:26:38,430 --> 00:26:41,850
engineered swing, okay. You see this in
611
00:26:41,850 --> 00:26:44,280
price action all the time. Okay, it's a
612
00:26:44,280 --> 00:26:47,160
measured move. Very simple. Taking this
613
00:26:47,160 --> 00:26:50,280
low to this high, whatever that range is
614
00:26:50,340 --> 00:26:52,410
subtracted from that same point here,
615
00:26:52,950 --> 00:26:56,100
and projected lower. Okay. That's the
616
00:26:56,100 --> 00:26:59,610
measured swing. Here is a measured leg
617
00:26:59,730 --> 00:27:02,520
move. You have the high down to a low
618
00:27:02,520 --> 00:27:04,530
here and price starts to retrace in
619
00:27:04,530 --> 00:27:06,360
here. We could see this as an
620
00:27:06,360 --> 00:27:09,390
intermediate term price swing, okay, or
621
00:27:09,390 --> 00:27:13,080
price leg. So we have a measurable swing
622
00:27:13,080 --> 00:27:15,180
here that we can use for projections.
623
00:27:15,750 --> 00:27:18,090
And we also have a measurable lake.
624
00:27:18,420 --> 00:27:20,550
Okay, so we had the first leg and price
625
00:27:20,550 --> 00:27:24,270
down here and we retrace back utilizing
626
00:27:24,270 --> 00:27:26,640
the framework that's based on this swing
627
00:27:26,640 --> 00:27:28,770
up. Okay, so we're blending two concepts
628
00:27:28,770 --> 00:27:32,790
here, a swing that's broken. Okay. And
629
00:27:32,790 --> 00:27:35,280
within bearish market structure, then we
630
00:27:35,280 --> 00:27:37,020
also have a retracement back into a
631
00:27:37,020 --> 00:27:40,440
previous support broken it should act as
632
00:27:40,440 --> 00:27:43,950
resistance, okay. And notice how this
633
00:27:43,950 --> 00:27:45,960
low here I try that more or less imply
634
00:27:46,260 --> 00:27:47,730
that price could be reaching for even a
635
00:27:47,730 --> 00:27:50,670
shorter term support that's broken as
636
00:27:50,670 --> 00:27:52,560
resistance. So what might look real
637
00:27:52,560 --> 00:27:54,450
clear and discernible in the charts. It
638
00:27:54,450 --> 00:27:57,990
may not be as clear cut as that. But we
639
00:27:57,990 --> 00:27:59,670
would expect this to be an intermediate
640
00:27:59,670 --> 00:28:03,480
term. retracement for a new leg down.
641
00:28:03,840 --> 00:28:05,130
And that's when you would expect to see
642
00:28:05,130 --> 00:28:08,280
the high too low here on this leg repeat
643
00:28:08,430 --> 00:28:10,770
repeated and projected from this highway
644
00:28:10,770 --> 00:28:14,310
reforms here down here and that would
645
00:28:14,310 --> 00:28:18,300
look similar to what we'd expect when
646
00:28:18,300 --> 00:28:20,130
you see enemy a term highs and lows.
647
00:28:20,550 --> 00:28:23,340
Enemy term high is obviously a high to
648
00:28:23,340 --> 00:28:25,830
has lower highs on either side of it.
649
00:28:26,790 --> 00:28:29,880
Okay, and any term low is a low that has
650
00:28:30,150 --> 00:28:33,540
two higher lows on either side of it. So
651
00:28:33,540 --> 00:28:36,780
it's very easy to see and simply looking
652
00:28:36,780 --> 00:28:39,900
at your candles and your bars when your
653
00:28:39,960 --> 00:28:41,700
respective timeframes. And when you see
654
00:28:41,700 --> 00:28:42,150
these,
655
00:28:42,660 --> 00:28:45,390
note them, okay? And by noting them.
656
00:28:46,380 --> 00:28:48,000
You'll have whatever ways you want to
657
00:28:48,000 --> 00:28:50,580
have it. You know, I'm delineating and
658
00:28:50,580 --> 00:28:52,650
denoting that with these blue circles
659
00:28:52,650 --> 00:28:54,300
here. It could be anything on your
660
00:28:54,300 --> 00:28:55,950
charts, you could have stars, you can,
661
00:28:56,280 --> 00:28:57,930
you can just you know, type,
662
00:28:58,020 --> 00:28:59,760
intermediate term high whatever. You can
663
00:28:59,760 --> 00:29:01,740
put those little arrows on it, whatever
664
00:29:01,740 --> 00:29:03,780
it is that you use to identify that
665
00:29:03,780 --> 00:29:06,210
that's your way of doing it. But it's
666
00:29:06,210 --> 00:29:07,500
important to understand where they're
667
00:29:07,500 --> 00:29:10,860
at. And when they start to nest out like
668
00:29:10,860 --> 00:29:13,620
this, okay? You can classify enemy a
669
00:29:13,620 --> 00:29:15,930
term to now long term because if we have
670
00:29:16,650 --> 00:29:19,440
lower highs on either side of it, okay,
671
00:29:19,440 --> 00:29:20,790
this would classify this as a long term
672
00:29:20,790 --> 00:29:24,780
high, that would also allow you to
673
00:29:24,780 --> 00:29:27,660
expect to see much longer term price
674
00:29:27,660 --> 00:29:32,130
swings, okay? So by nesting out and
675
00:29:32,130 --> 00:29:33,960
marking off your swing highs and swing
676
00:29:33,960 --> 00:29:37,470
lows on your respective timeframes, you
677
00:29:37,470 --> 00:29:39,390
start to build a framework that's needed
678
00:29:39,390 --> 00:29:40,800
to be able to discern if you're in an
679
00:29:40,800 --> 00:29:43,200
intermediate term, or short term price
680
00:29:43,200 --> 00:29:45,120
swing in within your market structure.
681
00:29:48,570 --> 00:29:50,340
Now that lag that we were talking about
682
00:29:50,490 --> 00:29:53,040
earlier, can be seen here by having that
683
00:29:53,040 --> 00:29:55,230
immediate term High Noon ID. So this is
684
00:29:55,230 --> 00:29:58,320
a me term, price leg. And then here's
685
00:29:58,320 --> 00:30:00,630
your immediate term retracement. Okay,
686
00:30:00,990 --> 00:30:02,610
and then you would see, obviously, the
687
00:30:02,610 --> 00:30:04,890
next leg down would be replicated. So
688
00:30:04,890 --> 00:30:06,600
you can see the range between this low
689
00:30:06,960 --> 00:30:08,850
to high is exactly what you see here,
690
00:30:09,840 --> 00:30:12,060
causing you to expect or anticipate
691
00:30:12,240 --> 00:30:15,000
price movement back here. If you're in a
692
00:30:15,000 --> 00:30:17,160
trade still wants to retraced you can
693
00:30:17,160 --> 00:30:18,540
expect to hold on to that trade to get
694
00:30:18,540 --> 00:30:20,160
back down to these levels here, which
695
00:30:20,160 --> 00:30:22,200
would obviously hopefully be a higher
696
00:30:22,200 --> 00:30:24,720
level support level to also converge and
697
00:30:25,080 --> 00:30:27,120
have a confluence of reasons to expect
698
00:30:27,120 --> 00:30:28,230
to take some profits there.
699
00:30:34,589 --> 00:30:37,199
Now, by having all these things in the
700
00:30:37,199 --> 00:30:38,699
forefront of your mind and having
701
00:30:39,509 --> 00:30:41,879
specific price legs and price swings,
702
00:30:42,539 --> 00:30:45,539
and how they nest together, it's
703
00:30:46,769 --> 00:30:47,939
important to understand that the
704
00:30:47,969 --> 00:30:49,679
framework of your market structure is
705
00:30:49,679 --> 00:30:51,959
derived from the highest level the three
706
00:30:51,959 --> 00:30:54,269
timeframes you're trading with. That's
707
00:30:54,269 --> 00:30:56,009
where you're using the framework or the
708
00:30:56,039 --> 00:30:59,189
or the basis of your trade is built upon
709
00:31:00,359 --> 00:31:03,389
Your mid level chart is used to zero
710
00:31:03,389 --> 00:31:06,809
down into a smaller time frame expecting
711
00:31:06,809 --> 00:31:09,749
to find support resistance levels that
712
00:31:09,749 --> 00:31:11,279
may not be discernible and your highest
713
00:31:11,279 --> 00:31:13,919
timeframe, then your lowest timeframe is
714
00:31:13,919 --> 00:31:15,419
used for your entry. And we're going to
715
00:31:15,419 --> 00:31:16,979
talk about that specifically here,
716
00:31:17,489 --> 00:31:19,619
assuming we've built the premise of
717
00:31:19,649 --> 00:31:22,739
market structure, and assuming that it's
718
00:31:22,739 --> 00:31:25,109
bullish, okay, everything we're talking
719
00:31:25,109 --> 00:31:27,359
about here would be obviously reverse
720
00:31:27,359 --> 00:31:29,729
for selling scenarios, but assuming we
721
00:31:29,729 --> 00:31:31,739
have a bullish market structure, okay,
722
00:31:31,739 --> 00:31:34,349
we're a swing trader, let's say for a
723
00:31:34,349 --> 00:31:37,499
moment that our highest timeframes
724
00:31:37,739 --> 00:31:39,269
suggest that we have a bullish market
725
00:31:39,269 --> 00:31:41,279
structure underway. We've traded off of
726
00:31:41,279 --> 00:31:45,389
a higher level, support level and price
727
00:31:45,389 --> 00:31:48,479
has given us a broken market structure
728
00:31:48,479 --> 00:31:50,009
to the upside. Okay, so it's been a
729
00:31:50,009 --> 00:31:52,049
market structure shift. Short term highs
730
00:31:52,049 --> 00:31:54,089
have been broken on our highest level
731
00:31:54,089 --> 00:31:57,329
timeframe chart, or mid level timeframe
732
00:31:57,389 --> 00:32:00,269
has allowed us to zero in and find a Key
733
00:32:00,269 --> 00:32:03,659
support resistance level. Now, we have
734
00:32:03,659 --> 00:32:05,519
this higher level key support resistance
735
00:32:05,519 --> 00:32:07,199
level, that's also converging with our
736
00:32:07,199 --> 00:32:09,269
mid level support resistance level.
737
00:32:09,539 --> 00:32:11,609
Okay, and that same support resistance
738
00:32:11,609 --> 00:32:13,889
level may be a confluence of maybe a
739
00:32:13,889 --> 00:32:17,579
pivot, a trinity level, okay? It could
740
00:32:17,579 --> 00:32:19,709
be a pattern that overlaps with that
741
00:32:19,709 --> 00:32:24,899
specific debt level. Okay. And we now
742
00:32:24,899 --> 00:32:31,109
have a bias, okay. This bias is bullish.
743
00:32:31,739 --> 00:32:34,919
It does not mean every single day you're
744
00:32:34,919 --> 00:32:36,479
going to get a trade that's gonna
745
00:32:37,109 --> 00:32:39,389
materialize as a bullish move and see
746
00:32:39,389 --> 00:32:42,419
profitability. If it was if it was just
747
00:32:42,419 --> 00:32:44,279
that simple guys, everybody would be
748
00:32:44,279 --> 00:32:46,919
multimillionaires. And be mean we'd be
749
00:32:46,979 --> 00:32:49,859
we we'd all be Warren Buffett's. And
750
00:32:50,399 --> 00:32:53,159
super rich. So obviously it's not that
751
00:32:53,189 --> 00:32:56,759
easy. You have to have some discernment
752
00:32:56,759 --> 00:33:00,629
and allow for some you do failure
753
00:33:00,659 --> 00:33:02,339
because it's going to happen. But
754
00:33:02,339 --> 00:33:03,989
assuming that we have that, that
755
00:33:03,989 --> 00:33:06,779
premise, okay, our bias is to buy, it
756
00:33:06,779 --> 00:33:08,399
doesn't mean that traders can't make
757
00:33:08,399 --> 00:33:11,039
money going short this specific day or
758
00:33:11,039 --> 00:33:14,069
timeframe. Okay, it just means that you
759
00:33:14,369 --> 00:33:17,159
are going to stick to being a bull at
760
00:33:17,159 --> 00:33:19,199
this particular day four particular
761
00:33:19,199 --> 00:33:23,069
timeframe. Okay. So with that, and with
762
00:33:23,069 --> 00:33:25,049
that in mind, we always go back to our
763
00:33:25,049 --> 00:33:27,359
key premise of trading within kill
764
00:33:27,359 --> 00:33:29,429
zones. Okay? So you want to be doing
765
00:33:29,429 --> 00:33:31,529
your entries in your kill zone times,
766
00:33:31,739 --> 00:33:34,589
London open, New York, open, London,
767
00:33:34,589 --> 00:33:36,959
close or Asia. Okay, but assuming we
768
00:33:36,959 --> 00:33:39,719
have already arrived at our time of day
769
00:33:39,719 --> 00:33:42,599
when we're going to be trading, okay. We
770
00:33:42,599 --> 00:33:44,159
already understand that the kill zone
771
00:33:44,159 --> 00:33:46,619
when it's going to begin. We already
772
00:33:46,619 --> 00:33:48,449
have our key support resistance level
773
00:33:48,479 --> 00:33:50,819
already identified, and we know where
774
00:33:50,819 --> 00:33:52,499
price should get to before we do
775
00:33:52,499 --> 00:33:53,699
anything, and that's going to be
776
00:33:54,419 --> 00:33:55,949
basically this little area right here.
777
00:33:55,949 --> 00:33:58,199
So when we're going to be seeing price
778
00:33:58,199 --> 00:33:59,969
hopefully, at some point, move down.
779
00:33:59,999 --> 00:34:02,039
That level here, this is our action
780
00:34:02,039 --> 00:34:04,319
point. This is where we take action, we
781
00:34:04,319 --> 00:34:07,409
do the entry here. Now, it could be on a
782
00:34:07,409 --> 00:34:08,729
limit basis, or it could be a market
783
00:34:08,729 --> 00:34:11,399
order, but we're utilizing time price
784
00:34:11,399 --> 00:34:13,769
theory. Okay. So this is what it looks
785
00:34:13,769 --> 00:34:17,339
like in your mind. There's nothing
786
00:34:17,339 --> 00:34:20,339
happening yet. you anticipate these
787
00:34:20,369 --> 00:34:23,189
events unfolding within a specific time
788
00:34:23,189 --> 00:34:26,309
of day with a specific bias in mind,
789
00:34:26,459 --> 00:34:29,189
okay? You want to see these things line
790
00:34:29,189 --> 00:34:31,739
up? And I think what happens as you guys
791
00:34:31,769 --> 00:34:33,419
send me emails you talk about on the
792
00:34:33,419 --> 00:34:35,939
internet posting on baby pips forums. I
793
00:34:35,939 --> 00:34:37,409
don't know what the bias is for today.
794
00:34:37,979 --> 00:34:41,189
here's here's the secret every day, the
795
00:34:41,189 --> 00:34:43,709
bias is both directions. Every day the
796
00:34:43,709 --> 00:34:46,319
bias is both directions. Think about
797
00:34:46,319 --> 00:34:48,839
that. There's traders making money going
798
00:34:48,869 --> 00:34:50,399
long and short that day.
799
00:34:51,480 --> 00:34:54,360
But you have to decide on what it is
800
00:34:54,360 --> 00:34:55,890
that your trading based on your
801
00:34:55,890 --> 00:34:57,810
timeframe in your profile. Okay, as a
802
00:34:57,810 --> 00:34:59,130
trader, are you a short term trader
803
00:34:59,280 --> 00:35:01,020
swing trader Are you a position trader,
804
00:35:01,350 --> 00:35:04,230
and you're looking for the bias that
805
00:35:04,230 --> 00:35:06,660
you're holding to line up with price
806
00:35:06,660 --> 00:35:09,330
action? Okay, you can't force price
807
00:35:09,330 --> 00:35:12,000
action to do what you want it to do, you
808
00:35:12,000 --> 00:35:14,400
can only get yourself in sync with what
809
00:35:14,400 --> 00:35:17,430
price may be doing and allowing you a
810
00:35:17,430 --> 00:35:19,380
ride. Okay, so with that assumption,
811
00:35:19,650 --> 00:35:21,360
we're looking at price here and with the
812
00:35:21,540 --> 00:35:24,090
bullish premise that we would be
813
00:35:24,090 --> 00:35:26,340
expecting to see higher prices if we get
814
00:35:26,340 --> 00:35:28,590
down to this support level. Okay, so
815
00:35:28,590 --> 00:35:30,030
we've aside established that the higher
816
00:35:30,030 --> 00:35:32,190
timeframe of the three timeframes we use
817
00:35:32,190 --> 00:35:34,440
for market structure study is now
818
00:35:34,440 --> 00:35:38,070
bullish. Okay. We assumed that we have a
819
00:35:38,190 --> 00:35:40,650
very respectable support level down
820
00:35:40,650 --> 00:35:42,630
here. Okay. So if price trades back down
821
00:35:42,630 --> 00:35:44,430
to that level within a kill zone, we're
822
00:35:44,430 --> 00:35:45,930
gonna be taking action here the buy,
823
00:35:46,140 --> 00:35:47,910
okay, and all we simply do at that point
824
00:35:48,120 --> 00:35:50,190
is you wait, you wait until the kill
825
00:35:50,190 --> 00:35:52,110
zone starts and when price gets to a
826
00:35:52,110 --> 00:35:54,240
specific point, you use whatever entry
827
00:35:54,240 --> 00:35:55,590
technique or concept you're going to be
828
00:35:55,590 --> 00:35:57,330
utilizing for your trade entry, which
829
00:35:57,330 --> 00:35:59,220
could be optimal trade entry. It could
830
00:35:59,220 --> 00:36:02,970
be reflection It could be a Grail, it
831
00:36:02,970 --> 00:36:06,240
could be a stinger. It could be any, any
832
00:36:06,240 --> 00:36:07,560
one of the trading patterns that you're
833
00:36:07,560 --> 00:36:09,390
utilizing, but it's happening at a key
834
00:36:09,390 --> 00:36:11,310
support resistance level with the higher
835
00:36:11,310 --> 00:36:13,590
timeframe of the three different
836
00:36:13,590 --> 00:36:15,210
timeframes you use for market structure,
837
00:36:15,570 --> 00:36:17,400
giving you your bias. So when you have
838
00:36:17,400 --> 00:36:19,680
that this is your action plan, this is
839
00:36:19,680 --> 00:36:21,720
what you do. You don't do anything else.
840
00:36:21,750 --> 00:36:24,390
Okay? This could be a sell pattern here,
841
00:36:24,450 --> 00:36:26,130
okay, for someone that's very short term
842
00:36:26,130 --> 00:36:29,010
trader, okay, and trades down in date.
843
00:36:29,040 --> 00:36:30,840
They've made money from this point here
844
00:36:30,960 --> 00:36:34,170
to here. That's not your trade. Okay? So
845
00:36:35,130 --> 00:36:38,100
don't try to force more out of the
846
00:36:38,100 --> 00:36:40,620
concept and it's intended, okay, you're
847
00:36:40,620 --> 00:36:43,950
just simply looking for a bias for your
848
00:36:43,980 --> 00:36:47,040
style of trading, okay? Doesn't mean
849
00:36:47,130 --> 00:36:48,210
that you're going to be right all the
850
00:36:48,210 --> 00:36:49,770
time. Okay. So take that out of the
851
00:36:49,770 --> 00:36:51,990
equation. All you're doing is looking to
852
00:36:51,990 --> 00:36:53,610
get yourself in sync with whatever price
853
00:36:53,610 --> 00:36:56,520
action is doing, based on your premise
854
00:36:56,550 --> 00:36:57,840
or your style of trading.
855
00:37:03,240 --> 00:37:06,930
All right. Obviously, this is a very
856
00:37:06,930 --> 00:37:08,730
simple approach to dealing with
857
00:37:08,850 --> 00:37:12,000
directional bias. But it's meant to help
858
00:37:12,000 --> 00:37:14,490
you avoid the over complication. That
859
00:37:15,240 --> 00:37:16,980
tends to happen with traders, okay? And
860
00:37:16,980 --> 00:37:18,840
it's usually the new traders that try to
861
00:37:18,840 --> 00:37:21,000
add all these things to it and squeeze
862
00:37:21,000 --> 00:37:23,280
all the tools into giving them a
863
00:37:23,280 --> 00:37:25,260
directional bias with the expectation
864
00:37:25,290 --> 00:37:28,110
falsely, I'll be it, that they're going
865
00:37:28,110 --> 00:37:29,790
to always know what direction the mark
866
00:37:29,790 --> 00:37:32,040
is gonna move every single day. And I'm
867
00:37:32,040 --> 00:37:33,660
gonna tell you guys, I've been doing
868
00:37:33,660 --> 00:37:36,630
this almost 20 years, and I don't get it
869
00:37:36,720 --> 00:37:40,230
right every single day. Okay, you know
870
00:37:40,230 --> 00:37:42,210
what the secret is to my trading? I
871
00:37:42,210 --> 00:37:45,000
simply wait until everything lines up
872
00:37:45,300 --> 00:37:47,850
that I like to see where the majority of
873
00:37:47,850 --> 00:37:49,770
all my tools, not all of them, the
874
00:37:49,770 --> 00:37:51,330
majority of the things that I'd like to
875
00:37:51,330 --> 00:37:53,910
see, based on my understanding what
876
00:37:53,910 --> 00:37:56,790
markets suggesting to me in other words,
877
00:37:56,880 --> 00:37:58,860
what what profile are we in? Are we
878
00:37:58,860 --> 00:38:01,860
overall right? For reversal, are we in a
879
00:38:01,860 --> 00:38:03,870
trending condition? Are we in a
880
00:38:03,870 --> 00:38:05,760
consolidation area where, you know, I
881
00:38:05,760 --> 00:38:07,110
don't want to be taking any kind of
882
00:38:08,430 --> 00:38:10,650
trading, you know, with the expectation
883
00:38:10,650 --> 00:38:13,620
that we're going to have a trending type
884
00:38:13,620 --> 00:38:15,150
of event unfold, because we're gonna be
885
00:38:15,150 --> 00:38:17,460
working within a large consolidation. I
886
00:38:17,460 --> 00:38:21,270
use that as my building blocks. And then
887
00:38:21,270 --> 00:38:23,550
by using the market profiling to give me
888
00:38:23,550 --> 00:38:25,440
the initial clue as to where we may be
889
00:38:25,440 --> 00:38:27,330
trading, then I've started looking at
890
00:38:27,330 --> 00:38:28,830
actual individual market structure
891
00:38:28,830 --> 00:38:30,390
concepts on the three timeframes that I
892
00:38:30,390 --> 00:38:32,430
use for whatever type of trading I'm
893
00:38:32,430 --> 00:38:35,940
doing at the time. Because I end dynamic
894
00:38:35,940 --> 00:38:38,730
I move from one timeframe or profile
895
00:38:38,730 --> 00:38:41,160
trading to another one week, I may be
896
00:38:41,160 --> 00:38:43,230
simply a day trader. In other weeks,
897
00:38:43,230 --> 00:38:46,920
I'll be short term trader. And I wish
898
00:38:46,920 --> 00:38:48,630
there's a way for me to teach that
899
00:38:49,140 --> 00:38:52,650
premise from moving from one dynamic to
900
00:38:52,650 --> 00:38:56,070
another. I can't so it may be
901
00:38:56,070 --> 00:38:57,990
disappointing to you, but this is a
902
00:38:57,990 --> 00:39:00,570
limitation on me as a mentor. Or I just
903
00:39:00,660 --> 00:39:02,670
I don't know how to communicate that.
904
00:39:03,090 --> 00:39:04,980
But I can give you concepts and
905
00:39:05,010 --> 00:39:07,170
approaches to do specific styles of
906
00:39:07,170 --> 00:39:08,910
trading. And you just have to wait for
907
00:39:08,910 --> 00:39:10,470
the opportunities where price action
908
00:39:10,500 --> 00:39:13,620
gives you that sweet spot in terms of
909
00:39:14,040 --> 00:39:17,160
being able to apply it. Okay? So by
910
00:39:17,160 --> 00:39:19,410
selecting a directional bias in this
911
00:39:19,410 --> 00:39:21,390
does not guarantee profitability, it's
912
00:39:21,390 --> 00:39:23,340
very important to understand that nor
913
00:39:23,340 --> 00:39:25,140
does it guarantee accuracy in either
914
00:39:25,140 --> 00:39:26,940
your trade direction and or your trade
915
00:39:26,940 --> 00:39:30,090
results. One traders bias may be
916
00:39:30,090 --> 00:39:31,770
bullish, okay. And they're looking for
917
00:39:31,770 --> 00:39:34,410
buys in that may exist inside the realm
918
00:39:34,410 --> 00:39:37,020
of another traders sell bias. They both
919
00:39:37,020 --> 00:39:40,380
can be correct and make money and even
920
00:39:40,380 --> 00:39:41,850
see both their respective profit
921
00:39:41,850 --> 00:39:44,850
objectives achieved. They both can be
922
00:39:44,850 --> 00:39:47,100
wrong and make money despite their
923
00:39:47,100 --> 00:39:49,320
respective profit objectives not being
924
00:39:49,320 --> 00:39:51,570
achieved. Again, it's not being about
925
00:39:52,380 --> 00:39:54,840
being, quote unquote, correct. It's
926
00:39:54,840 --> 00:39:57,690
about being profitable. However, they
927
00:39:57,690 --> 00:39:59,310
both could simply lose money and neither
928
00:39:59,310 --> 00:40:01,560
trade idea comes to fruition, there is
929
00:40:01,560 --> 00:40:03,480
no black and white. It's very important
930
00:40:03,510 --> 00:40:06,240
to understand that as a trader, you must
931
00:40:06,240 --> 00:40:08,640
enter the gray and be comfortable with
932
00:40:08,640 --> 00:40:11,250
the less than perfect visibility trades
933
00:40:11,250 --> 00:40:14,580
with the the foresight that you're
934
00:40:14,580 --> 00:40:17,160
expecting don't exist. Nobody has a
935
00:40:17,160 --> 00:40:19,650
crystal ball. I don't have it. I'm still
936
00:40:19,650 --> 00:40:22,500
trading on the probabilities, not the
937
00:40:22,500 --> 00:40:24,990
perfect scenario. There's no perfect
938
00:40:24,990 --> 00:40:29,550
scenario, okay? You as a trader will see
939
00:40:29,550 --> 00:40:31,290
trades materialize that will provide you
940
00:40:31,290 --> 00:40:34,110
plenty of profit taking potential. live
941
00:40:34,110 --> 00:40:37,260
there. Don't expect 100% it's not going
942
00:40:37,260 --> 00:40:39,540
to happen. Okay, I guarantee you. The
943
00:40:39,540 --> 00:40:40,980
only thing 100% is going to happen is
944
00:40:40,980 --> 00:40:43,350
you're going to go nuts, expecting an
945
00:40:43,350 --> 00:40:47,820
impossibility. Find your timeframe as a
946
00:40:47,820 --> 00:40:50,130
trader, determine the market structure
947
00:40:50,130 --> 00:40:52,800
given for that timeframe. Trade within
948
00:40:52,800 --> 00:40:54,330
that respective market structure and
949
00:40:54,330 --> 00:40:57,030
perform your targeting on the highest
950
00:40:57,030 --> 00:40:59,430
end mid level timeframes. And I promise
951
00:40:59,430 --> 00:41:01,680
you You'll have more than enough trades
952
00:41:01,920 --> 00:41:04,290
laid at your feet. But it's not about
953
00:41:04,290 --> 00:41:06,630
trading every day. And it's not about
954
00:41:07,050 --> 00:41:09,690
capturing 1000 pips a month, okay? It's
955
00:41:09,690 --> 00:41:11,790
about consistently harvesting profits
956
00:41:11,820 --> 00:41:14,730
out of the marketplace, keeping risk low
957
00:41:15,210 --> 00:41:18,270
and your action level low. Don't try to
958
00:41:18,270 --> 00:41:20,940
trade a whole lot. Keep your trading
959
00:41:20,940 --> 00:41:22,800
controlled. That way you're going to
960
00:41:22,800 --> 00:41:25,050
control your emotions, your expectations
961
00:41:25,050 --> 00:41:27,720
will be kept realistic and you're going
962
00:41:27,720 --> 00:41:30,240
to live comfortably in the gray. Okay,
963
00:41:30,240 --> 00:41:33,360
folks, we are looking at the British
964
00:41:33,360 --> 00:41:38,160
Pound USD, or what is commonly referred
965
00:41:38,160 --> 00:41:40,560
to in my videos and throughout the Forex
966
00:41:40,560 --> 00:41:43,140
industry as the cable is a monthly
967
00:41:43,140 --> 00:41:44,850
chart. Okay, and we're going to be
968
00:41:44,850 --> 00:41:49,320
discussing primarily the approach to
969
00:41:49,320 --> 00:41:52,680
developing your directional bias and
970
00:41:53,940 --> 00:41:57,690
looking for trades in that direction for
971
00:41:57,690 --> 00:41:59,010
all facets of your trading, whether it
972
00:41:59,010 --> 00:42:00,990
be position trading Swing Trading, short
973
00:42:00,990 --> 00:42:02,430
term trading or day trading or even the
974
00:42:02,430 --> 00:42:06,840
scalper. Again, I like to preface all
975
00:42:06,840 --> 00:42:09,930
these videos with the fact that while I
976
00:42:09,930 --> 00:42:14,370
do comment, rarely on scalping, and
977
00:42:14,370 --> 00:42:16,110
you'll hear it mentioned in this video,
978
00:42:16,440 --> 00:42:18,930
I do not advocate that type of trading
979
00:42:18,930 --> 00:42:21,660
simply because it's too short term. For
980
00:42:21,660 --> 00:42:23,430
my personal taste. It's not to say that
981
00:42:23,430 --> 00:42:25,020
you can't make money. It's not to say
982
00:42:25,020 --> 00:42:28,080
that you can't find consistent setups
983
00:42:28,080 --> 00:42:31,170
with these concepts for scalps, it just
984
00:42:31,170 --> 00:42:34,380
means that it's just not my forte, I
985
00:42:34,770 --> 00:42:37,470
wasted a lot of time and, and lost a lot
986
00:42:37,470 --> 00:42:39,540
of mine doing that, you know, in the
987
00:42:39,540 --> 00:42:41,010
beginning until I really found out what
988
00:42:41,010 --> 00:42:45,570
I was doing. And I just want to add that
989
00:42:45,810 --> 00:42:47,820
every time I mentioned it, because I'm
990
00:42:47,820 --> 00:42:51,360
actually strongly against scalping. And
991
00:42:51,360 --> 00:42:55,230
now my view of scalping is anything less
992
00:42:55,230 --> 00:42:57,540
than 20 pips? So if you can't make 20
993
00:42:57,540 --> 00:43:00,660
pips out of the move, it's By my
994
00:43:00,660 --> 00:43:03,900
definition a scalp okay? So anything 20
995
00:43:03,930 --> 00:43:05,460
pips or greater is what we're looking
996
00:43:05,460 --> 00:43:12,120
for. So that which divides my scalp into
997
00:43:12,120 --> 00:43:14,070
2030 pips is my scalp anything greater
998
00:43:14,070 --> 00:43:15,420
than that's a short term trader day
999
00:43:15,420 --> 00:43:17,700
trade and then obviously moving higher
1000
00:43:17,700 --> 00:43:21,540
up in the realm of, you know, pitfalls
1001
00:43:21,840 --> 00:43:24,060
greater than 100 pips you that's more or
1002
00:43:24,060 --> 00:43:26,730
less in my forte I like looking for
1003
00:43:26,730 --> 00:43:28,770
those types of moves so even if I'm
1004
00:43:28,770 --> 00:43:31,080
wrong hopefully I can get 50% of the
1005
00:43:31,080 --> 00:43:33,540
anticipated range of 100 pips I'm
1006
00:43:33,540 --> 00:43:35,940
looking for which is about 50 pips or
1007
00:43:35,940 --> 00:43:38,340
so. And again a lot of people are
1008
00:43:38,820 --> 00:43:40,290
shocked when I tell them that that's
1009
00:43:40,770 --> 00:43:42,360
really all I'm looking for for the week,
1010
00:43:42,390 --> 00:43:44,700
you know, 50 to 75 pips a week, that's
1011
00:43:44,700 --> 00:43:47,790
all I'm looking for. So, again, have
1012
00:43:47,790 --> 00:43:49,620
that in your notebook, you do not need a
1013
00:43:49,620 --> 00:43:51,930
lot of pips to make a lot of money. You
1014
00:43:51,930 --> 00:43:53,370
don't need a lot of pips to build
1015
00:43:53,370 --> 00:43:55,530
wealth. You just need time and
1016
00:43:55,530 --> 00:43:57,180
consistently doing the same thing over
1017
00:43:57,180 --> 00:44:00,120
and over again. That works. Okay. We're
1018
00:44:00,120 --> 00:44:01,800
going to be talking about all of the
1019
00:44:01,890 --> 00:44:03,510
concepts that we've discussed over the
1020
00:44:03,510 --> 00:44:07,260
last three years on baby pips, all of
1021
00:44:07,260 --> 00:44:10,170
the videos that discussed with top down
1022
00:44:10,170 --> 00:44:12,540
analysis, you have to revisit those
1023
00:44:12,540 --> 00:44:14,610
guys, if you haven't studied those and
1024
00:44:14,610 --> 00:44:18,780
haven't really ingrain those primary
1025
00:44:19,500 --> 00:44:23,250
steps as a technical analysis, trader,
1026
00:44:23,490 --> 00:44:25,380
you have to go back to that, okay,
1027
00:44:25,380 --> 00:44:27,450
because that's the route to successful
1028
00:44:27,450 --> 00:44:29,370
trading, you have to have top down
1029
00:44:29,520 --> 00:44:33,210
perspective. to limit the amount of
1030
00:44:33,210 --> 00:44:35,670
false signals you would just inherently
1031
00:44:35,670 --> 00:44:37,140
find if you just were staring at the
1032
00:44:37,170 --> 00:44:38,820
lower timeframes more than five minute
1033
00:44:38,820 --> 00:44:41,190
charts, which is predominantly what most
1034
00:44:41,190 --> 00:44:43,440
novice and or new traders do, because
1035
00:44:43,440 --> 00:44:44,670
they think they're closer to the market
1036
00:44:44,670 --> 00:44:46,020
so therefore, the new trades are gonna
1037
00:44:46,020 --> 00:44:49,860
be easier to see. And what's ironically
1038
00:44:50,280 --> 00:44:52,140
seen is that they go away with thinking
1039
00:44:52,170 --> 00:44:55,830
forex and trading by any asset classes
1040
00:44:56,010 --> 00:44:58,530
too difficult or by their definition,
1041
00:44:58,530 --> 00:45:01,260
that they lose their accounts. Less than
1042
00:45:01,290 --> 00:45:04,080
90 days, typically, they'll say that no
1043
00:45:04,080 --> 00:45:06,900
one ever makes money. And hopefully you
1044
00:45:06,900 --> 00:45:08,580
guys can see that that's not entirely
1045
00:45:08,580 --> 00:45:09,720
true. There's people out there that do
1046
00:45:09,720 --> 00:45:12,360
make good livings. And my goal is to
1047
00:45:12,360 --> 00:45:15,390
help you do that. Okay? So, again, I'm
1048
00:45:15,390 --> 00:45:17,040
not a CPA, I'm not licensed to give you
1049
00:45:17,040 --> 00:45:18,660
trade advice. These are just ideas to
1050
00:45:18,660 --> 00:45:20,940
help stimulate some decision making on
1051
00:45:20,940 --> 00:45:24,840
your part. Yeah, everything we're
1052
00:45:24,840 --> 00:45:26,430
discussing in these videos, you have to
1053
00:45:26,940 --> 00:45:29,130
take the responsibility and the profits
1054
00:45:29,130 --> 00:45:31,800
and the losses are yours, not mine. And
1055
00:45:31,800 --> 00:45:32,790
I don't want to credit for your
1056
00:45:32,790 --> 00:45:35,070
winnings. I don't certainly want any
1057
00:45:35,070 --> 00:45:37,470
credit for your losses. So practice in a
1058
00:45:37,470 --> 00:45:39,330
demo account and build a confidence that
1059
00:45:39,330 --> 00:45:40,620
you need and you determine whether or
1060
00:45:40,620 --> 00:45:42,540
not these are going to be valuable
1061
00:45:42,540 --> 00:45:46,170
concepts or advantageous for you to use
1062
00:45:46,170 --> 00:45:48,330
with real money. And if you if you're
1063
00:45:48,330 --> 00:45:49,710
successful, great, I'd love to hear your
1064
00:45:49,710 --> 00:45:52,080
story, but don't thank me for because
1065
00:45:52,080 --> 00:45:53,580
I'm the one executing the trades.
1066
00:45:54,840 --> 00:45:56,460
Alright, so let's take a look at our
1067
00:45:56,460 --> 00:45:58,830
first trading style and how we can
1068
00:45:58,860 --> 00:46:01,980
arrive at a top Down approach. And it's
1069
00:46:01,980 --> 00:46:03,660
going to be similar to a lot of the
1070
00:46:04,230 --> 00:46:06,360
higher timeframe views here. But I'm
1071
00:46:06,360 --> 00:46:08,190
really bringing you back to what's
1072
00:46:08,190 --> 00:46:10,590
essential in terms of having a
1073
00:46:10,590 --> 00:46:12,420
directional bias because I get a million
1074
00:46:12,420 --> 00:46:14,460
emails, okay. And you see it always
1075
00:46:14,460 --> 00:46:17,010
creeping up on forums. You know, how do
1076
00:46:17,010 --> 00:46:18,930
I know which way to trade? You know, if
1077
00:46:18,930 --> 00:46:20,970
I just knew that I'd make a million
1078
00:46:20,970 --> 00:46:25,050
dollars every year, okay. And it's, it's
1079
00:46:25,140 --> 00:46:27,510
a lot easier than you think guys and
1080
00:46:27,600 --> 00:46:29,100
it's unfortunate. You have to
1081
00:46:29,460 --> 00:46:32,130
overcomplicate it. And I'm not laughing
1082
00:46:32,130 --> 00:46:34,560
at you because I did the same thing. As
1083
00:46:34,560 --> 00:46:37,980
SMP trader, years and years ago. I had
1084
00:46:37,980 --> 00:46:40,110
that same thinking. If I could just get
1085
00:46:40,110 --> 00:46:43,410
to the point of your directional bias,
1086
00:46:43,440 --> 00:46:45,810
what should I be doing today? If I just
1087
00:46:45,810 --> 00:46:47,940
knew that I'll be alright analysis
1088
00:46:47,940 --> 00:46:49,680
trying to catch you two three handles
1089
00:46:49,710 --> 00:46:52,740
intraday for the s&p, and when they're
1090
00:46:52,740 --> 00:46:54,990
$500 per point, that's a good living if
1091
00:46:54,990 --> 00:46:57,870
you catch a couple of them a week. So if
1092
00:46:58,710 --> 00:47:01,620
you are in that rut in your trading or
1093
00:47:01,620 --> 00:47:03,540
if you just started and you've always
1094
00:47:03,540 --> 00:47:05,070
wondered, you have two technical
1095
00:47:05,520 --> 00:47:09,480
traders, you arrive at you the bias for
1096
00:47:09,480 --> 00:47:11,520
today, you know whether they be a bull
1097
00:47:11,520 --> 00:47:14,700
or bear for the day. Okay? And I kind of
1098
00:47:14,700 --> 00:47:16,320
want to more or less take you away from
1099
00:47:16,320 --> 00:47:18,180
that definition of whether Are you a
1100
00:47:18,180 --> 00:47:21,150
bull or bear? Okay? You're neither,
1101
00:47:21,510 --> 00:47:24,120
okay, you're neither one because you
1102
00:47:24,120 --> 00:47:25,530
want to be able to go into the
1103
00:47:25,530 --> 00:47:28,650
marketplace and just arrive at what you
1104
00:47:28,650 --> 00:47:32,100
need to be doing at the time. You trade.
1105
00:47:32,430 --> 00:47:33,840
Okay, whatever that timeframe is,
1106
00:47:33,840 --> 00:47:37,050
whatever that that framework and always
1107
00:47:37,050 --> 00:47:38,460
if you're a position trader, which is
1108
00:47:38,460 --> 00:47:40,410
what we're starting with, your trades
1109
00:47:40,410 --> 00:47:43,320
are going to be derived from finding the
1110
00:47:43,320 --> 00:47:45,540
monthly, weekly and daily market
1111
00:47:45,540 --> 00:47:46,950
structure, key support resistance
1112
00:47:46,950 --> 00:47:48,810
levels, and that's going to be your top
1113
00:47:48,810 --> 00:47:51,840
down approach. Okay? But even if you're
1114
00:47:51,840 --> 00:47:54,540
not a position trader, you still want to
1115
00:47:54,540 --> 00:47:56,550
start here because it's going to be
1116
00:47:56,790 --> 00:47:59,010
highly advantageous to you as a trader.
1117
00:47:59,220 --> 00:48:00,750
Even if you are dating You're a scalper
1118
00:48:00,750 --> 00:48:02,730
because you're going to see a lot of the
1119
00:48:02,730 --> 00:48:06,210
moves that are really wild, the
1120
00:48:06,240 --> 00:48:10,410
explosive moves one way intraday, they
1121
00:48:10,470 --> 00:48:15,750
are always, always seen with the
1122
00:48:15,750 --> 00:48:17,550
institutional sponsorship that's being
1123
00:48:18,060 --> 00:48:20,130
seen with the hard timeframe directional
1124
00:48:20,130 --> 00:48:21,630
bias. So it's important that you
1125
00:48:21,630 --> 00:48:25,680
understand that it's not a boring or
1126
00:48:25,680 --> 00:48:28,380
waste of time for you to be doing
1127
00:48:28,680 --> 00:48:30,210
analysis on these higher timeframe
1128
00:48:30,210 --> 00:48:33,630
charts because it's essential for you to
1129
00:48:33,810 --> 00:48:36,090
have this perspective, if you really
1130
00:48:36,090 --> 00:48:37,770
want to be catching and ferreting out
1131
00:48:37,770 --> 00:48:39,930
these explosive moves in the marketplace
1132
00:48:39,930 --> 00:48:42,240
because when you get ahold of one, it's
1133
00:48:42,240 --> 00:48:45,480
absolutely mind blowing how fast you can
1134
00:48:45,570 --> 00:48:48,060
build up pips get really handsome
1135
00:48:48,090 --> 00:48:51,780
intraday wins. And it feels wonderful to
1136
00:48:51,780 --> 00:48:53,220
be on the right side of the market. And
1137
00:48:53,220 --> 00:48:54,450
if you could do that consistently over a
1138
00:48:54,450 --> 00:48:56,430
period of time, even if you're 50% of
1139
00:48:56,430 --> 00:48:59,550
the time, right, and you have good risk
1140
00:48:59,550 --> 00:49:02,070
management protocol's you will
1141
00:49:02,070 --> 00:49:05,190
absolutely weather the storms of being
1142
00:49:05,190 --> 00:49:07,770
wrong half the time. And I think by
1143
00:49:07,770 --> 00:49:08,760
doing this, you'll find that your
1144
00:49:08,760 --> 00:49:10,110
trading actually a little bit more
1145
00:49:10,110 --> 00:49:12,810
accurate than 50%. And you can be wildly
1146
00:49:12,810 --> 00:49:16,020
profitable with just 33% accuracy. But
1147
00:49:16,020 --> 00:49:19,770
if you have 50 to 70%, you enter a new
1148
00:49:20,340 --> 00:49:22,950
realm in terms of profitability. And
1149
00:49:22,950 --> 00:49:24,870
then obviously, once you have a, you
1150
00:49:24,870 --> 00:49:26,430
know, higher timeframe perspective and
1151
00:49:26,430 --> 00:49:28,170
you are more dynamic with your lower
1152
00:49:28,170 --> 00:49:31,050
timeframe analysis concepts, it's it's
1153
00:49:31,320 --> 00:49:34,890
not on attainable to reach the 70 to
1154
00:49:34,890 --> 00:49:37,890
even 90% accuracy level. Now, obviously,
1155
00:49:37,890 --> 00:49:39,150
you'll go into a tailspin once in a
1156
00:49:39,150 --> 00:49:41,730
while, and you have to prepare for that
1157
00:49:41,730 --> 00:49:43,950
next May materialize in the form of a
1158
00:49:43,950 --> 00:49:48,690
losing streak or just, you know, a bad
1159
00:49:48,690 --> 00:49:50,700
run, okay, and it could be seasonally
1160
00:49:50,730 --> 00:49:53,160
inspired. Like this time of year. I'm
1161
00:49:53,160 --> 00:49:54,780
really not that aggressive in trading,
1162
00:49:54,810 --> 00:49:56,130
you know, it's the end of the year, it's
1163
00:49:56,130 --> 00:49:58,980
around the holidays. So I'll scale back
1164
00:49:58,980 --> 00:50:00,690
and or take money. Completely at the
1165
00:50:00,690 --> 00:50:03,090
marketplace and that I've done that, and
1166
00:50:03,120 --> 00:50:04,590
there's an admin, follow me on the
1167
00:50:04,590 --> 00:50:06,870
forums know that I'm completely out of
1168
00:50:06,870 --> 00:50:13,350
market right now. And if you have just
1169
00:50:13,410 --> 00:50:15,030
arrived at what type of trader you are,
1170
00:50:16,800 --> 00:50:19,080
this module here, you know, what we're
1171
00:50:19,080 --> 00:50:23,010
talking about now is going to be very
1172
00:50:24,030 --> 00:50:27,240
influential in terms of as a reference,
1173
00:50:27,240 --> 00:50:29,370
go back to this periodically, okay, at
1174
00:50:29,370 --> 00:50:31,290
least once a month, come back to this
1175
00:50:31,320 --> 00:50:33,360
video every single month while you're
1176
00:50:33,360 --> 00:50:35,130
trading at least, if you're brand new
1177
00:50:35,130 --> 00:50:36,630
trader, and you just started doing
1178
00:50:37,620 --> 00:50:38,700
technical analysis, and you've been
1179
00:50:38,700 --> 00:50:40,830
following us for a short period of time.
1180
00:50:42,150 --> 00:50:43,920
Go back to this as a framework, okay,
1181
00:50:43,920 --> 00:50:46,170
and it'll help you break down the
1182
00:50:46,170 --> 00:50:48,180
market. You look at the market in a
1183
00:50:48,180 --> 00:50:50,130
structured approach modularly and you'll
1184
00:50:50,130 --> 00:50:51,810
be able to see that directional bias is
1185
00:50:51,810 --> 00:50:54,000
absolutely not hard at all. It just
1186
00:50:54,000 --> 00:50:56,190
requires you to be patient to see the
1187
00:50:56,190 --> 00:50:57,960
setups that line up with the higher time
1188
00:50:57,960 --> 00:51:00,540
frame premise. Okay, so, let's be Again,
1189
00:51:00,570 --> 00:51:05,520
with arriving at a very simple approach
1190
00:51:05,520 --> 00:51:07,140
to directional bias and top down
1191
00:51:07,140 --> 00:51:09,720
approach. Alright, we're going to talk
1192
00:51:09,720 --> 00:51:13,800
about the summer of 2012. Okay, and I'm
1193
00:51:13,800 --> 00:51:15,180
not cherry picking because if you've
1194
00:51:15,180 --> 00:51:17,010
been following me on YouTube and on baby
1195
00:51:17,010 --> 00:51:19,320
pips, I actually called the bottom in
1196
00:51:19,320 --> 00:51:20,970
the marketplace on both the fiber and
1197
00:51:20,970 --> 00:51:23,340
cable before it actually happened. And
1198
00:51:23,340 --> 00:51:25,830
it's all video documented, I even gave
1199
00:51:25,830 --> 00:51:26,850
you the price levels where it's going to
1200
00:51:26,850 --> 00:51:28,410
go and where it was going to go once it
1201
00:51:28,410 --> 00:51:31,290
reversed on the upside. Okay, so, you'll
1202
00:51:31,290 --> 00:51:32,880
see a lot of these levels talked about
1203
00:51:32,880 --> 00:51:34,500
here, and you'll be able to see those
1204
00:51:34,500 --> 00:51:36,990
things actually done on a daily
1205
00:51:37,320 --> 00:51:39,750
breakdown on analysis in advance on my
1206
00:51:39,750 --> 00:51:42,630
YouTube channel. Okay, so, again, I want
1207
00:51:42,630 --> 00:51:45,000
to stick to things that you see me
1208
00:51:45,000 --> 00:51:47,820
actually talk about and apply. So that
1209
00:51:47,820 --> 00:51:49,710
way, it's not like well, you know, it's
1210
00:51:49,710 --> 00:51:51,330
great on the left side chart notes guys,
1211
00:51:51,330 --> 00:51:55,050
these are actual analysis that I did in
1212
00:51:55,050 --> 00:51:56,760
advance. Okay, so I'm not making this
1213
00:51:56,760 --> 00:51:58,350
stuff up. Not put lipstick on a pig so
1214
00:51:58,350 --> 00:52:00,240
you guys can be impressed with the Less
1215
00:52:00,240 --> 00:52:01,650
on the chart. We're talking about
1216
00:52:01,650 --> 00:52:03,930
something that has been documented
1217
00:52:03,930 --> 00:52:06,660
before it happened. Okay. So now let's
1218
00:52:06,660 --> 00:52:08,400
talk about the fact that obviously we're
1219
00:52:08,400 --> 00:52:12,750
going to briefly introduce, again, the
1220
00:52:12,750 --> 00:52:14,190
seasonal tendency, there's a seasonal
1221
00:52:14,190 --> 00:52:17,520
tendency for the markets to create a low
1222
00:52:17,910 --> 00:52:20,430
in the summertime. Okay? I'm not going
1223
00:52:20,430 --> 00:52:22,530
to go over that here. That's all in the
1224
00:52:22,860 --> 00:52:25,740
introductory video series that I did on
1225
00:52:26,040 --> 00:52:28,320
baby pips just check out that first
1226
00:52:28,320 --> 00:52:30,510
thread. It's wildly popular right now.
1227
00:52:32,580 --> 00:52:34,140
What every new and or aspiring forex
1228
00:52:34,140 --> 00:52:35,850
trader still wants to know, if you go to
1229
00:52:35,850 --> 00:52:38,250
the first page of that thread. The very,
1230
00:52:38,250 --> 00:52:40,830
very, very, very, very single first post
1231
00:52:40,830 --> 00:52:43,290
of that thread is an index list of all
1232
00:52:43,290 --> 00:52:46,020
the videos and resources that I more or
1233
00:52:46,020 --> 00:52:48,450
less shared with the community on baby
1234
00:52:48,450 --> 00:52:50,040
pips Now there's a couple nuggets that
1235
00:52:50,040 --> 00:52:52,320
are hidden throughout the thread. And
1236
00:52:52,320 --> 00:52:53,910
that's for the folks to have the
1237
00:52:54,150 --> 00:52:56,790
tenacity to execute through the
1238
00:52:57,990 --> 00:53:00,000
monstrous amount of pages to go through.
1239
00:53:00,000 --> 00:53:02,700
Do that. But you know, you don't have
1240
00:53:02,700 --> 00:53:05,640
to. But I think if you find them to do a
1241
00:53:05,640 --> 00:53:06,930
nice little easter eggs to get a hold
1242
00:53:06,930 --> 00:53:10,230
off, got a lot of insight to it. So we
1243
00:53:10,230 --> 00:53:12,510
have a seasonal tendency to expect a low
1244
00:53:12,510 --> 00:53:16,140
to form in the British pound the euro.
1245
00:53:20,100 --> 00:53:21,240
Again, we're not going to go over that
1246
00:53:21,240 --> 00:53:22,710
here as far as why it's a seasonal
1247
00:53:22,710 --> 00:53:23,940
tendency to go up. Because I've
1248
00:53:23,940 --> 00:53:25,140
discussed the other place I don't want
1249
00:53:25,140 --> 00:53:26,910
to spend too much time with all the
1250
00:53:26,910 --> 00:53:28,110
things that we've already talked about,
1251
00:53:28,110 --> 00:53:32,010
but here is the load that we're gonna
1252
00:53:32,010 --> 00:53:36,210
actually talk about. Okay, and that low
1253
00:53:36,720 --> 00:53:39,600
is in the summer of this year, which is
1254
00:53:39,600 --> 00:53:42,960
2012. And it's actually the June low.
1255
00:53:43,350 --> 00:53:46,500
Okay, so the actual low formed in cable
1256
00:53:46,500 --> 00:53:49,050
was on the month of June. Now, what I
1257
00:53:49,050 --> 00:53:50,220
want to draw your attention to is the
1258
00:53:50,220 --> 00:53:51,810
fact that if you'll go to the left side
1259
00:53:51,810 --> 00:53:53,220
of your chart here, it's a little bit
1260
00:53:53,880 --> 00:53:56,490
see all these lows in here. Okay, and
1261
00:53:56,490 --> 00:53:59,100
see the lows over here. Now look at the
1262
00:53:59,100 --> 00:54:02,940
bodies of the candles here. And look at
1263
00:54:02,940 --> 00:54:05,490
the lows over here. If you stretch on
1264
00:54:05,490 --> 00:54:07,050
over all the way over here, you can see
1265
00:54:07,050 --> 00:54:09,090
this consolidation around that same area
1266
00:54:09,090 --> 00:54:11,970
here. Okay? So what we're doing is we're
1267
00:54:11,970 --> 00:54:16,830
going to identify a level of key
1268
00:54:16,830 --> 00:54:20,760
resistance and support. Okay? So
1269
00:54:20,940 --> 00:54:22,350
obviously, we're going to be just
1270
00:54:22,350 --> 00:54:24,750
eyeballing it initially. And you have
1271
00:54:24,750 --> 00:54:28,890
the 152 10 level, which is essentially
1272
00:54:28,890 --> 00:54:32,310
this level here. Actual level for this
1273
00:54:32,310 --> 00:54:35,730
data fee is 152 32. So essentially it's
1274
00:54:35,730 --> 00:54:40,290
around the 152 30 level. Okay, so we
1275
00:54:40,290 --> 00:54:45,630
could use the 152 50 in that area and
1276
00:54:45,630 --> 00:54:47,970
this one, just again, ballpark it here.
1277
00:54:48,420 --> 00:54:51,390
So here's 152 57. Okay, and you can see
1278
00:54:51,390 --> 00:54:53,130
how there's a whole lot of
1279
00:54:54,450 --> 00:54:56,820
tug of war back around that same level.
1280
00:54:56,820 --> 00:54:57,870
If you go back over here you see the
1281
00:54:57,870 --> 00:54:59,340
bodies of the candles and the wicks
1282
00:54:59,340 --> 00:55:00,960
trying to reach for that. level. And
1283
00:55:00,960 --> 00:55:05,190
again, the 152 50 is a mid figure level
1284
00:55:05,190 --> 00:55:07,200
that we'd like to talk about. Alright,
1285
00:55:07,200 --> 00:55:09,660
so we would expect reasonably to see
1286
00:55:09,660 --> 00:55:11,370
some sort of a bounce around that mid
1287
00:55:11,370 --> 00:55:13,500
figure, and around the large full
1288
00:55:13,500 --> 00:55:17,760
figures 150 to even 153 even. But notice
1289
00:55:17,760 --> 00:55:18,930
that we have a whole lot of action
1290
00:55:18,930 --> 00:55:23,610
around that 152 50 level. Okay? So what
1291
00:55:23,610 --> 00:55:24,480
we're doing is, is we're actually
1292
00:55:24,480 --> 00:55:28,380
looking at this low here, the lows in
1293
00:55:28,380 --> 00:55:30,870
here, goodbyes at a candle in here. This
1294
00:55:30,870 --> 00:55:33,780
is a level of consolidation, where
1295
00:55:33,780 --> 00:55:36,720
there's a few short term lows that could
1296
00:55:36,720 --> 00:55:39,870
have been used for probable areas of
1297
00:55:39,870 --> 00:55:41,910
support, but we're going to erage we're
1298
00:55:41,910 --> 00:55:43,740
going to keep our original idea and
1299
00:55:43,740 --> 00:55:49,320
premise to using the 152 50 level. Okay,
1300
00:55:49,320 --> 00:55:50,760
and we're going to do as as we move
1301
00:55:50,760 --> 00:55:52,830
down, again, we're looking at the higher
1302
00:55:52,830 --> 00:55:57,450
time frame, position trader, approach,
1303
00:55:57,810 --> 00:55:59,250
and we're going to use top down analysis
1304
00:55:59,250 --> 00:56:02,040
concepts Okay, so we're going to start
1305
00:56:02,040 --> 00:56:05,880
with the 152 50 level here. But before
1306
00:56:05,880 --> 00:56:07,020
we get to that, what I want to draw your
1307
00:56:07,020 --> 00:56:09,180
attention to is the range that at that
1308
00:56:09,180 --> 00:56:10,740
point, when we traded down into summer
1309
00:56:10,740 --> 00:56:14,070
months, we were inside of a larger
1310
00:56:14,130 --> 00:56:18,240
range. Okay? And that can be seen here.
1311
00:56:18,300 --> 00:56:22,500
Here's the low. And here's the high.
1312
00:56:23,430 --> 00:56:26,850
Okay, can you see how that 50 level is
1313
00:56:26,850 --> 00:56:29,460
the midpoint of that larger range here
1314
00:56:29,700 --> 00:56:32,610
is high and this low. So we're inside
1315
00:56:32,610 --> 00:56:34,710
this larger range, and we found support
1316
00:56:34,710 --> 00:56:36,990
at the 50 level. Okay. Now, I'm not
1317
00:56:36,990 --> 00:56:37,950
trying to draw your attention to the
1318
00:56:37,950 --> 00:56:40,860
fact that it's the 50 fib level, that's
1319
00:56:40,860 --> 00:56:42,630
not the concern. Okay. The point is, is
1320
00:56:42,630 --> 00:56:43,860
that we're inside of a larger
1321
00:56:43,860 --> 00:56:47,070
consolidation. Okay, and thinking of
1322
00:56:47,070 --> 00:56:49,260
market profiles, we had a trending
1323
00:56:49,260 --> 00:56:52,320
profile, we had a reversal profile, and
1324
00:56:52,320 --> 00:56:54,300
now we're in a consolidation, okay, and
1325
00:56:54,300 --> 00:56:56,070
we went into a smaller consolidation in
1326
00:56:56,070 --> 00:57:02,610
here. Okay, so we do have This range to
1327
00:57:02,640 --> 00:57:06,000
consider, okay and we have found support
1328
00:57:06,630 --> 00:57:08,820
at the midpoint of that range, okay? Now
1329
00:57:08,820 --> 00:57:11,370
think of our mocha market profile
1330
00:57:11,370 --> 00:57:13,740
concepts, okay? Now I taught a concept
1331
00:57:13,770 --> 00:57:18,450
of z deformations, okay? Now, if there's
1332
00:57:18,450 --> 00:57:20,970
one thing I could go back and change, I
1333
00:57:20,970 --> 00:57:24,600
wish I would have took, took the day
1334
00:57:24,600 --> 00:57:27,210
part out of it, okay? Because it's the Z
1335
00:57:27,210 --> 00:57:29,520
formation, which is what you see that's
1336
00:57:29,520 --> 00:57:31,410
synonymous with consolidations, okay,
1337
00:57:31,440 --> 00:57:35,370
and they can tend to fall into the Seek
1338
00:57:35,370 --> 00:57:37,290
and Destroy market profile. Okay? And
1339
00:57:37,290 --> 00:57:39,330
again, that's a video module just for
1340
00:57:39,330 --> 00:57:43,230
these specific profiles. Okay, so again,
1341
00:57:43,230 --> 00:57:45,240
I'm not gonna spend time here, but you
1342
00:57:45,240 --> 00:57:46,620
can check those out and study more
1343
00:57:46,620 --> 00:57:49,020
information about those. But while we're
1344
00:57:49,020 --> 00:57:51,630
in here in these consolidations, okay,
1345
00:57:51,660 --> 00:57:54,780
the Z day formations, or Z formations
1346
00:57:54,780 --> 00:57:56,760
and consolidation is what you would
1347
00:57:56,760 --> 00:57:59,010
expect to see in price action. So it's
1348
00:57:59,010 --> 00:58:02,190
not limited to Just a intraday or a
1349
00:58:02,190 --> 00:58:05,040
daily phenomenon you can see here on the
1350
00:58:05,040 --> 00:58:07,380
monthly, you see that same formation
1351
00:58:07,380 --> 00:58:11,670
happening here. Okay. But it's
1352
00:58:11,670 --> 00:58:13,590
interesting, I think to note that at
1353
00:58:13,590 --> 00:58:16,260
that 152 50 level, okay, we're seeing a
1354
00:58:16,260 --> 00:58:19,050
whole lot of confluence of expectation
1355
00:58:19,350 --> 00:58:21,960
of the market finding support at that
1356
00:58:21,960 --> 00:58:23,130
same timeframe. So now we have a
1357
00:58:23,130 --> 00:58:25,470
seasonal tendency, okay, price comes
1358
00:58:25,470 --> 00:58:28,140
down into that 152 50 level, okay? And,
1359
00:58:28,770 --> 00:58:32,490
again, the low on that particular month
1360
00:58:32,520 --> 00:58:35,670
was the 152 67. Okay, so now we have
1361
00:58:35,670 --> 00:58:38,220
this mapped out here. Okay, we've
1362
00:58:38,460 --> 00:58:39,570
essentially went over the fact that
1363
00:58:39,570 --> 00:58:41,640
we've been trending, we had a market
1364
00:58:41,640 --> 00:58:43,980
reversal in here. Okay, now we're into
1365
00:58:43,980 --> 00:58:46,320
consolidation. So we're inside of a
1366
00:58:46,320 --> 00:58:50,010
larger monthly consolidation, okay, but
1367
00:58:50,010 --> 00:58:52,050
we have discernible levels of support
1368
00:58:52,050 --> 00:58:53,820
resistance to work within. Okay, so now
1369
00:58:53,820 --> 00:58:55,380
I'm gonna keep these levels up. we've
1370
00:58:55,380 --> 00:58:57,360
mapped out the higher timeframe monthly
1371
00:58:57,360 --> 00:59:01,620
chart. So let's go down to a weekly You
1372
00:59:01,620 --> 00:59:08,310
can see by going forward and moving into
1373
00:59:08,310 --> 00:59:13,080
the June timeframe here set that June
1374
00:59:13,080 --> 00:59:19,140
low. Right in here. We have price come
1375
00:59:19,140 --> 00:59:22,440
up and come back down and found support
1376
00:59:22,440 --> 00:59:25,770
this particular level here, okay? What
1377
00:59:25,770 --> 00:59:27,060
I'm gonna do is I'm gonna take the fib
1378
00:59:27,060 --> 00:59:29,370
off because it's not needed at this
1379
00:59:29,370 --> 00:59:29,790
point.
1380
00:59:34,800 --> 00:59:37,560
Okay, so now look what we have here we
1381
00:59:37,560 --> 00:59:41,940
have price finding support. Now by
1382
00:59:41,940 --> 00:59:44,520
moving down to a weekly chart, we can
1383
00:59:44,520 --> 00:59:48,090
more closely calibrate these levels now
1384
00:59:48,090 --> 00:59:50,880
this is 152 50. But now watch what
1385
00:59:50,880 --> 00:59:52,560
happens when we start moving up to these
1386
00:59:52,560 --> 00:59:54,960
lows that are here. We have Hello here
1387
00:59:54,960 --> 00:59:57,420
we have a low here. We have a low here.
1388
00:59:59,310 --> 01:00:00,990
Notice what how happens over here watch
1389
01:00:01,020 --> 01:00:09,120
this area right here. Okay we have this
1390
01:00:09,120 --> 01:00:13,740
low here. If we move up to these
1391
01:00:14,040 --> 01:00:19,320
particular lows being this low here the
1392
01:00:19,320 --> 01:00:21,240
bodies that have candles here, you can
1393
01:00:21,240 --> 01:00:24,870
see now we have a much more discernible
1394
01:00:25,500 --> 01:00:27,060
range in here so we have anywhere
1395
01:00:27,060 --> 01:00:29,190
between the 153 because if you look over
1396
01:00:29,190 --> 01:00:36,510
here we got 152 97 and the low the
1397
01:00:36,510 --> 01:00:39,480
previous low here, okay comes in at
1398
01:00:39,480 --> 01:00:42,660
152 30. So we essentially we have about
1399
01:00:42,660 --> 01:00:46,830
70 pips of likely range in here that we
1400
01:00:46,830 --> 01:00:49,620
would have to zero in capture a more
1401
01:00:49,620 --> 01:00:52,500
calibrated price level. So now while
1402
01:00:52,500 --> 01:00:55,170
it's still approximately 70 pips or so,
1403
01:00:55,740 --> 01:00:57,240
of potential range in here where we
1404
01:00:57,240 --> 01:00:59,970
would anticipate the low forming it's
1405
01:01:01,020 --> 01:01:05,340
Not hard in terms of now applying our
1406
01:01:06,720 --> 01:01:10,890
levels. Dude, we're familiar with the
1407
01:01:10,920 --> 01:01:15,510
80s and 20s. Okay, and we're going to
1408
01:01:15,510 --> 01:01:20,520
introduce again, the big figure and mid
1409
01:01:20,520 --> 01:01:21,780
figure indicator.
1410
01:01:29,670 --> 01:01:31,080
And what we're actually going to do is
1411
01:01:32,310 --> 01:01:33,450
we're going to add some more levels
1412
01:01:33,450 --> 01:01:35,550
because there's not enough on here.
1413
01:01:45,450 --> 01:01:50,490
You can see how we have the 53 figure
1414
01:01:50,490 --> 01:01:53,190
down here. And we have the mid figured
1415
01:01:53,190 --> 01:01:59,220
it. It didn't get too in here. So we
1416
01:01:59,220 --> 01:02:02,670
have this range of 50 pips now. So you
1417
01:02:02,670 --> 01:02:04,860
can see how we've calibrated from 70
1418
01:02:04,860 --> 01:02:08,460
pips down to down to a range of 50 pips,
1419
01:02:08,580 --> 01:02:12,030
okay? But we've identified this little
1420
01:02:12,030 --> 01:02:16,260
area in here and what I'm going to do is
1421
01:02:16,260 --> 01:02:22,740
I'm just going to now highlight Okay,
1422
01:02:22,740 --> 01:02:24,450
and we're going to use 253
1423
01:02:28,469 --> 01:02:29,189
and
1424
01:02:32,340 --> 01:02:35,460
the 5250 level one here, okay? Now what
1425
01:02:35,460 --> 01:02:36,630
I'm drawing your attention to is the
1426
01:02:36,630 --> 01:02:38,460
fact that we have these, this low in
1427
01:02:38,460 --> 01:02:42,360
here, low here, and a low here. Okay, so
1428
01:02:42,360 --> 01:02:43,980
we're working within this 50 PIP range
1429
01:02:43,980 --> 01:02:46,890
in here. Okay, so now when we drop down
1430
01:02:46,890 --> 01:02:48,810
to a daily, okay, which is the next
1431
01:02:48,810 --> 01:02:50,040
level when you're a position trader,
1432
01:02:50,880 --> 01:02:52,260
we're going to go down to that timeframe
1433
01:02:55,410 --> 01:02:56,190
and
1434
01:02:58,080 --> 01:03:04,170
you can see here the To daily. And now
1435
01:03:04,170 --> 01:03:09,690
we have the bodies of the candles here,
1436
01:03:09,690 --> 01:03:11,370
see how we have all this consolidation
1437
01:03:11,370 --> 01:03:13,230
in here? Because all we're doing now is
1438
01:03:13,230 --> 01:03:15,840
we're just mapping out from the higher
1439
01:03:15,840 --> 01:03:18,060
timeframe monthly to the weekly to the
1440
01:03:18,060 --> 01:03:21,660
daily, and we're calibrating high odds,
1441
01:03:22,230 --> 01:03:24,090
support resistance levels. Okay, I get
1442
01:03:24,090 --> 01:03:26,760
questions, how do I know how to find key
1443
01:03:26,940 --> 01:03:28,560
support resistance levels? How do they
1444
01:03:28,560 --> 01:03:30,570
look like and what do I do to do it, you
1445
01:03:30,570 --> 01:03:32,550
know, a moon charts. Well, I have a
1446
01:03:32,550 --> 01:03:34,650
video module for that. And it's silent,
1447
01:03:34,680 --> 01:03:35,940
but I'll give you all the details that
1448
01:03:35,940 --> 01:03:37,560
you need to go through the steps. And
1449
01:03:37,560 --> 01:03:39,270
this is really again, one more example
1450
01:03:39,270 --> 01:03:42,360
how I do it. And, again, I'm not asking
1451
01:03:42,360 --> 01:03:44,760
you to take my word on it. Go and look
1452
01:03:44,760 --> 01:03:46,500
at all the videos around this timeframe.
1453
01:03:47,250 --> 01:03:49,260
And you'll actually see on my livestream
1454
01:03:49,320 --> 01:03:56,310
channel and on my YouTube channel these
1455
01:03:56,310 --> 01:04:00,390
are all particular points in the
1456
01:04:00,390 --> 01:04:02,250
marketplace where they were called in
1457
01:04:02,250 --> 01:04:04,830
advance. So again, we're not doing not
1458
01:04:06,120 --> 01:04:08,340
cherry picking. Now there's a great
1459
01:04:08,340 --> 01:04:11,250
level in here, this is to 150 to 80
1460
01:04:11,250 --> 01:04:15,060
level. Okay, so we have 150 to 80 as a
1461
01:04:15,060 --> 01:04:17,220
good level to be looking for and we have
1462
01:04:17,220 --> 01:04:18,570
the bodies of the candles and the lows
1463
01:04:18,570 --> 01:04:21,330
down here. And they those come in at
1464
01:04:21,660 --> 01:04:31,680
152 75 152 79. Okay, so around that 80
1465
01:04:31,680 --> 01:04:35,010
level, okay is a good level to be
1466
01:04:35,070 --> 01:04:39,510
anticipating a bounce. Okay, so now we
1467
01:04:39,510 --> 01:04:45,390
have essentially the 152 82 152 50 now
1468
01:04:45,390 --> 01:04:48,240
we've reduced it down to 30 pips. Okay,
1469
01:04:48,690 --> 01:04:53,130
so now we're going to zoom down into the
1470
01:04:54,720 --> 01:04:56,010
one hour chart. Now you're probably
1471
01:04:56,010 --> 01:04:56,940
saying, Well, why don't you go to the
1472
01:04:56,940 --> 01:05:00,330
four hour because we're up Position
1473
01:05:00,330 --> 01:05:02,220
trader. So there's no necessity to look
1474
01:05:02,220 --> 01:05:04,410
at the four hour because you've already
1475
01:05:04,410 --> 01:05:09,150
arrived at the likelihood you're
1476
01:05:09,150 --> 01:05:12,120
anticipating a bounce in support. Okay?
1477
01:05:12,720 --> 01:05:15,240
And you're looking for price to provide
1478
01:05:15,240 --> 01:05:19,350
you a signal at that timeframe. Okay?
1479
01:05:19,710 --> 01:05:21,870
And here's that particular area where
1480
01:05:21,870 --> 01:05:23,850
price comes down into that June low.
1481
01:05:24,270 --> 01:05:26,610
Okay. Now what I want to draw your
1482
01:05:26,610 --> 01:05:29,100
attention to is, we've identified the
1483
01:05:29,100 --> 01:05:34,440
higher time frame 153 to 152 50 level
1484
01:05:34,440 --> 01:05:37,710
initially, that was a 50 PIP range, and
1485
01:05:37,710 --> 01:05:39,600
we reduce it down to 30. pips. So here's
1486
01:05:39,600 --> 01:05:41,760
that 152 50 level, this dotted line
1487
01:05:41,760 --> 01:05:44,730
here, and here's the 152 80 level. Okay,
1488
01:05:44,730 --> 01:05:46,440
so inside that area, we were expecting
1489
01:05:46,440 --> 01:05:49,260
some sort of a low to form based on all
1490
01:05:49,260 --> 01:05:52,140
these previous old lows from all the
1491
01:05:52,140 --> 01:05:53,970
monthly, the weekly and the daily chart.
1492
01:05:54,330 --> 01:05:56,550
So we broke it down, and we mapped out
1493
01:05:56,550 --> 01:05:58,050
the marketplace where there's a high
1494
01:05:58,050 --> 01:06:00,780
probability to see specific Key levels,
1495
01:06:00,810 --> 01:06:04,290
okay. Now, it's not imperative that you
1496
01:06:04,320 --> 01:06:06,690
pick the right one. You wait for the
1497
01:06:06,690 --> 01:06:08,520
market to tell you which one is the
1498
01:06:08,520 --> 01:06:11,910
right one. Okay. I understand there's a
1499
01:06:11,910 --> 01:06:14,520
lot of respect for me when baby pips and
1500
01:06:14,550 --> 01:06:17,250
I appreciate that. But unfortunately,
1501
01:06:17,250 --> 01:06:20,070
some of the newer folks, okay, and so
1502
01:06:20,070 --> 01:06:21,450
maybe the guys has been around for a
1503
01:06:21,450 --> 01:06:23,160
long time and still have struggled for a
1504
01:06:23,160 --> 01:06:26,550
while. They put an S on my chest and
1505
01:06:26,550 --> 01:06:28,440
they made me much more than I really am.
1506
01:06:28,500 --> 01:06:30,870
Okay, and I appreciate the enthusiasm,
1507
01:06:30,870 --> 01:06:34,140
but I don't know all the time where
1508
01:06:34,140 --> 01:06:35,430
these things are going to reverse rate
1509
01:06:35,430 --> 01:06:38,310
to the PIP Okay, so don't don't have
1510
01:06:38,310 --> 01:06:40,860
that in your mind. I get lucky a lot,
1511
01:06:41,040 --> 01:06:43,860
okay. And sometimes I'm able to call
1512
01:06:43,860 --> 01:06:45,990
highs and lows and it's, it's impressive
1513
01:06:45,990 --> 01:06:48,780
sometimes to myself, but that's not what
1514
01:06:48,780 --> 01:06:50,970
your goal is. Okay. What we're talking
1515
01:06:50,970 --> 01:06:53,160
about here is how you actually arrive at
1516
01:06:53,160 --> 01:06:55,200
a directional bias where the markets
1517
01:06:55,200 --> 01:06:56,970
already proven to you where the high
1518
01:06:56,970 --> 01:06:59,850
odds likelihood of trading two is. Okay?
1519
01:07:00,000 --> 01:07:03,420
So again, remove the necessity and the
1520
01:07:03,480 --> 01:07:05,580
the putting yourself in a box where it
1521
01:07:05,580 --> 01:07:08,010
has to provide you the actual level,
1522
01:07:08,040 --> 01:07:09,660
forget all that you don't need that.
1523
01:07:09,780 --> 01:07:12,330
Okay? And what we're about to show you
1524
01:07:12,330 --> 01:07:13,650
here is going to prove that to you.
1525
01:07:14,850 --> 01:07:15,990
Here's that seasonal low, we
1526
01:07:15,990 --> 01:07:19,290
anticipated, okay? We saw price trade
1527
01:07:19,290 --> 01:07:20,670
down to those particular levels, okay?
1528
01:07:20,670 --> 01:07:22,530
And we're anticipating a bounce, that's
1529
01:07:22,530 --> 01:07:24,660
what we're looking for. Okay? If you're
1530
01:07:24,660 --> 01:07:26,010
short all through here, you're just
1531
01:07:26,010 --> 01:07:27,720
looking for targets down here to take
1532
01:07:27,720 --> 01:07:30,270
profits, right. But if you're a position
1533
01:07:30,270 --> 01:07:31,710
trader, and you just sat down your
1534
01:07:31,710 --> 01:07:33,690
charts and you want to resume trading
1535
01:07:33,690 --> 01:07:34,980
and you look for a long term trade,
1536
01:07:35,340 --> 01:07:37,050
seasonal low in the summertime is a good
1537
01:07:37,080 --> 01:07:39,660
opportunity to get you hunting for this
1538
01:07:39,660 --> 01:07:41,790
type of setup. All you're going to do is
1539
01:07:41,790 --> 01:07:45,240
wait for a low at a predetermined price
1540
01:07:45,240 --> 01:07:48,750
level. When at time of year,
1541
01:07:50,010 --> 01:07:52,920
seasonally speaking, okay, where we are
1542
01:07:52,950 --> 01:07:55,500
likely to see the market moves for a
1543
01:07:55,500 --> 01:07:57,270
long period of time. And that's what the
1544
01:07:57,270 --> 01:07:59,850
impact of seasonal seasonal tendencies
1545
01:07:59,850 --> 01:08:02,130
will provide for you. So now we have
1546
01:08:02,160 --> 01:08:04,920
price coming down into June low. Okay.
1547
01:08:05,130 --> 01:08:06,570
And then we have this nice reaction
1548
01:08:06,570 --> 01:08:09,450
here. This is what you wait for. Okay,
1549
01:08:09,450 --> 01:08:11,550
this is what you wait for. Now what I'm
1550
01:08:11,550 --> 01:08:15,210
going to take, I'm going to take the big
1551
01:08:15,210 --> 01:08:17,490
figure mid figure indicator off because
1552
01:08:17,520 --> 01:08:18,690
I think right now it's going to number
1553
01:08:18,690 --> 01:08:20,160
one is going to distract me and we can't
1554
01:08:20,160 --> 01:08:23,760
have that. So, you see this price rally
1555
01:08:23,760 --> 01:08:25,770
up in here, okay, look what it's done.
1556
01:08:25,860 --> 01:08:27,870
When it rallies up like this, it blows
1557
01:08:27,900 --> 01:08:30,540
out the market structure, swing high
1558
01:08:30,540 --> 01:08:33,210
here. Now again, we're looking at a one
1559
01:08:33,210 --> 01:08:35,130
hour chart. So this is what you would
1560
01:08:35,130 --> 01:08:37,380
need when you see that happening. Okay.
1561
01:08:38,010 --> 01:08:40,410
We now have confirmation to Hey, look,
1562
01:08:41,250 --> 01:08:43,590
Mark structure is now broken on a one
1563
01:08:43,590 --> 01:08:47,220
hourly basis. This is the swing that
1564
01:08:47,220 --> 01:08:49,020
breaks it so this is the impulse move
1565
01:08:49,020 --> 01:08:51,780
here. Okay, so this is your range. Okay.
1566
01:08:51,900 --> 01:08:53,370
And you probably already understand
1567
01:08:53,430 --> 01:08:54,780
where I'm going to go with this next.
1568
01:08:55,230 --> 01:08:58,050
But this is what you wait for. You don't
1569
01:08:58,050 --> 01:08:59,760
chase it when it rallies up like that.
1570
01:09:00,270 --> 01:09:02,160
You're a position trader, you want to
1571
01:09:02,160 --> 01:09:03,720
get in sync with the higher timeframe
1572
01:09:03,720 --> 01:09:05,340
trade. You want to be in there for a
1573
01:09:05,340 --> 01:09:07,230
little while not just a day trade, you
1574
01:09:07,230 --> 01:09:09,210
have a job, you have family have kids,
1575
01:09:09,210 --> 01:09:11,100
you got soccer practice you or your
1576
01:09:11,100 --> 01:09:13,230
soccer mom, you're a baseball mom. You
1577
01:09:13,230 --> 01:09:14,310
can't be in front of the charts all the
1578
01:09:14,310 --> 01:09:16,350
time. But you want to have an ability to
1579
01:09:16,350 --> 01:09:19,200
be able to trade and take some, some
1580
01:09:19,200 --> 01:09:21,240
trades out, you know the marketplace and
1581
01:09:21,240 --> 01:09:22,800
not trade all the time and still be able
1582
01:09:22,800 --> 01:09:24,300
to capture some handsome moves. Well,
1583
01:09:25,110 --> 01:09:27,900
this is how you do it. You have the
1584
01:09:27,900 --> 01:09:30,750
market structure shift here, this swing
1585
01:09:30,750 --> 01:09:33,090
high here when it breaks above here,
1586
01:09:33,150 --> 01:09:35,700
that's what you've waited for. So now,
1587
01:09:36,240 --> 01:09:38,520
all you're going to do is go to your fib
1588
01:09:39,480 --> 01:09:42,240
gradual low, pull it up to the high of
1589
01:09:42,240 --> 01:09:46,050
that range. Okay. And you drop it. This
1590
01:09:46,050 --> 01:09:47,910
is what you have here. Now again, this
1591
01:09:47,910 --> 01:09:51,750
is a one hour chart. Can you see this?
1592
01:09:52,800 --> 01:09:54,390
You could have this on your smartphone.
1593
01:09:55,470 --> 01:09:57,150
Okay, you're out iPhone or your Android
1594
01:09:57,150 --> 01:10:01,260
or whatever that allows you a alert to
1595
01:10:01,260 --> 01:10:03,150
be sending you a text when price comes
1596
01:10:03,150 --> 01:10:05,970
back down into that 62 level or
1597
01:10:05,970 --> 01:10:09,030
approaches it 10 pips or so. Okay, you
1598
01:10:09,030 --> 01:10:10,980
want to be looking at the marketplace or
1599
01:10:11,490 --> 01:10:12,990
you simply put a limit order down in
1600
01:10:12,990 --> 01:10:16,140
here. Okay? So when price comes down to
1601
01:10:16,140 --> 01:10:18,000
that point you're going to be buying at
1602
01:10:18,000 --> 01:10:19,830
a limit your risk is going to be from
1603
01:10:19,830 --> 01:10:23,730
that point and 10 pips below here. Okay,
1604
01:10:23,730 --> 01:10:25,530
so what does that equate to? Well let's
1605
01:10:25,530 --> 01:10:26,070
look at that.
1606
01:10:31,500 --> 01:10:33,750
If you go in with a position traders
1607
01:10:33,750 --> 01:10:35,790
mindset, okay and you're gonna be buying
1608
01:10:36,330 --> 01:10:40,080
at 262 and you want 10 pips below here,
1609
01:10:40,410 --> 01:10:46,470
okay? Your stop is going to be 152 57
1610
01:10:46,950 --> 01:10:51,720
okay 257 now the risk total risk is
1611
01:10:51,720 --> 01:10:57,120
going to be 76 pips. Okay. 76 pips. new
1612
01:10:57,120 --> 01:10:59,970
pricing. Whoo. That's a lot of pips.
1613
01:11:00,630 --> 01:11:02,850
Okay, I understand. But if you're a
1614
01:11:02,850 --> 01:11:05,490
position trader, we're going to do
1615
01:11:05,520 --> 01:11:06,690
you're going to be scaling back and your
1616
01:11:06,690 --> 01:11:09,240
lot size anyway, right? So there's
1617
01:11:09,240 --> 01:11:10,350
nothing wrong with taking this trade
1618
01:11:10,350 --> 01:11:13,620
with a 76 PIP stop loss. If you're
1619
01:11:13,620 --> 01:11:17,580
trading with, you know, one, one Mini,
1620
01:11:18,330 --> 01:11:20,850
okay? You can you can trade with that
1621
01:11:21,150 --> 01:11:24,990
you're only assuming a risk of 80 $80.
1622
01:11:25,410 --> 01:11:26,400
So there's nothing wrong with that
1623
01:11:26,400 --> 01:11:28,410
trade, okay? And you'd be able to be
1624
01:11:28,410 --> 01:11:30,150
positioned for a longer period trade
1625
01:11:30,900 --> 01:11:33,780
position trade. Now, again, obviously,
1626
01:11:33,780 --> 01:11:35,460
you can go down and look into the tight
1627
01:11:35,550 --> 01:11:38,130
smaller timeframes, okay? utilized with
1628
01:11:38,130 --> 01:11:40,800
day trading and swing trading, short
1629
01:11:40,800 --> 01:11:43,230
term trading, to even narrow down that
1630
01:11:43,230 --> 01:11:45,240
smaller risk. Okay, we're not going to
1631
01:11:45,240 --> 01:11:46,800
do that here. The only thing we've
1632
01:11:46,800 --> 01:11:49,470
talked about thus far is we're arrived
1633
01:11:49,470 --> 01:11:51,900
at a directional bias. So now we've
1634
01:11:51,900 --> 01:11:55,200
expected this to happen. Okay, so at
1635
01:11:55,200 --> 01:11:58,410
this point, if you're a position trader
1636
01:11:58,410 --> 01:11:59,940
and you have a job and all that business
1637
01:12:00,600 --> 01:12:02,520
This is where the market structure shift
1638
01:12:02,520 --> 01:12:04,710
takes place. And it comes back if you do
1639
01:12:04,710 --> 01:12:06,840
buy signal and then starts to rally up.
1640
01:12:07,320 --> 01:12:09,960
Now, what you're doing at this point is
1641
01:12:09,960 --> 01:12:12,450
you're gonna start mapping out all the
1642
01:12:12,450 --> 01:12:14,370
enemy term in the short term highs and
1643
01:12:14,370 --> 01:12:17,010
lows. Okay, so now we have this low
1644
01:12:17,010 --> 01:12:19,350
here, with the previous low here, it's
1645
01:12:19,350 --> 01:12:21,120
higher, and now we have a higher low
1646
01:12:21,120 --> 01:12:23,370
here. So this makes this what an
1647
01:12:23,370 --> 01:12:25,230
intermediate term or what we're hoping
1648
01:12:25,230 --> 01:12:28,560
to find a long term low, okay, and you
1649
01:12:28,560 --> 01:12:30,840
have a higher low here, and you go back
1650
01:12:30,840 --> 01:12:32,400
here, you have a higher low here, that
1651
01:12:32,400 --> 01:12:34,980
makes this qualified as a long term low.
1652
01:12:35,400 --> 01:12:37,800
So now watch what happens. We have a low
1653
01:12:38,610 --> 01:12:40,380
now we have an enemy a term high here,
1654
01:12:40,590 --> 01:12:43,050
we could see if price runs above this
1655
01:12:43,050 --> 01:12:45,060
high eventually here in our in our
1656
01:12:45,060 --> 01:12:47,730
position trade, which we see here. We
1657
01:12:47,730 --> 01:12:49,140
could see a move that's comparable from
1658
01:12:49,140 --> 01:12:51,810
this low to this high added to this high
1659
01:12:51,900 --> 01:12:53,850
up. Okay, and what do I mean by that?
1660
01:12:53,850 --> 01:12:57,690
Let's take a look at this. And we have
1661
01:12:57,690 --> 01:13:00,540
this range here. And you see Do this
1662
01:13:00,540 --> 01:13:02,100
before as they're all measured moves and
1663
01:13:02,100 --> 01:13:09,030
market structure. Okay, and scrolling
1664
01:13:09,030 --> 01:13:13,290
forward and up how you verify, take it
1665
01:13:13,290 --> 01:13:18,480
out. We have price, still meandering in
1666
01:13:18,510 --> 01:13:21,690
a launcher consolidation. And it's got a
1667
01:13:22,290 --> 01:13:24,510
little bit easier. You had to sit
1668
01:13:24,510 --> 01:13:25,530
through all this but again, your
1669
01:13:25,530 --> 01:13:27,630
position trader, you're not in there.
1670
01:13:27,930 --> 01:13:29,730
Every day, you're in here for a longer
1671
01:13:29,730 --> 01:13:31,830
term price move. Look what happens if
1672
01:13:31,830 --> 01:13:33,090
you go from this point over here, go
1673
01:13:33,090 --> 01:13:36,120
straight on over. You get this high
1674
01:13:36,120 --> 01:13:38,160
right there. Okay, so if you're a
1675
01:13:38,160 --> 01:13:40,140
position trader, you could have done a
1676
01:13:40,140 --> 01:13:43,860
long here and reach for this particular
1677
01:13:43,860 --> 01:13:45,630
high here as your first profit
1678
01:13:45,630 --> 01:13:48,030
objective. Okay, as a position trader.
1679
01:13:48,270 --> 01:13:49,830
So what does that equate to? Well, let's
1680
01:13:49,830 --> 01:13:53,280
look at we have price approximately in
1681
01:13:53,370 --> 01:13:55,080
around this area here. I'm not. I'm not
1682
01:13:55,080 --> 01:13:56,610
gonna give you the exact pitch. It's not
1683
01:13:56,610 --> 01:13:58,500
important here. But we're looking at a
1684
01:13:58,500 --> 01:14:01,860
move for first profit. If 575 pips
1685
01:14:02,400 --> 01:14:04,620
approximately. Okay? So if you're doing
1686
01:14:04,620 --> 01:14:08,160
double tap as your, your specific
1687
01:14:08,190 --> 01:14:10,500
trading approach, taking first profit
1688
01:14:10,500 --> 01:14:14,730
here, okay? Your first profit is 575
1689
01:14:14,730 --> 01:14:21,540
pips from your entry. Okay. Now when you
1690
01:14:21,540 --> 01:14:25,230
see this swing here, okay?
1691
01:14:27,090 --> 01:14:30,600
Again, we've now measured this initial
1692
01:14:30,600 --> 01:14:31,860
move here but now we have this
1693
01:14:31,860 --> 01:14:33,390
retracement as you'd hoped you would
1694
01:14:33,390 --> 01:14:36,600
have had to absorb. Okay? We're going to
1695
01:14:36,600 --> 01:14:39,720
talk about risk and stock placement and
1696
01:14:40,080 --> 01:14:41,430
risk reduction and all that and we're
1697
01:14:41,430 --> 01:14:43,590
going to apply all those concepts again,
1698
01:14:43,980 --> 01:14:45,690
through all these different types of
1699
01:14:46,320 --> 01:14:47,550
trading. So we're not going to talk
1700
01:14:47,550 --> 01:14:49,440
about that here, but I promise you, we
1701
01:14:49,470 --> 01:14:53,370
will we bring it up. You have this low
1702
01:14:53,610 --> 01:14:57,300
to this enemy term high here. Okay. It
1703
01:14:57,300 --> 01:14:59,610
comes down right into a sweet spot and
1704
01:14:59,610 --> 01:15:01,560
you would be expecting this to unfold,
1705
01:15:01,560 --> 01:15:04,230
anticipating it to unfold as price
1706
01:15:04,230 --> 01:15:06,720
rallies up and breaks these highs and
1707
01:15:06,720 --> 01:15:09,960
here and here. Okay, we have further
1708
01:15:09,960 --> 01:15:12,300
evidence to suggest that any lows
1709
01:15:12,300 --> 01:15:14,340
retraced back in here as we make higher
1710
01:15:14,370 --> 01:15:16,320
short term highs and intermediate term
1711
01:15:16,320 --> 01:15:18,780
highs every time we do that, that will
1712
01:15:18,780 --> 01:15:20,820
allow us to apply market structure
1713
01:15:21,390 --> 01:15:23,610
concepts to reach for new buying
1714
01:15:23,610 --> 01:15:25,680
opportunities. Okay, so while you were
1715
01:15:25,680 --> 01:15:28,320
buying here, and you saw this range from
1716
01:15:28,320 --> 01:15:30,210
this high down to this low when we sell
1717
01:15:30,210 --> 01:15:32,160
the retracement back here, this is
1718
01:15:32,160 --> 01:15:35,490
another opportunity to buy more. Okay.
1719
01:15:36,390 --> 01:15:38,580
So you can get long and build your long
1720
01:15:38,580 --> 01:15:41,160
position up or seasonal position trade
1721
01:15:41,190 --> 01:15:46,260
even to a larger degree. Now, assuming
1722
01:15:47,550 --> 01:15:50,130
that you had this understanding also and
1723
01:15:50,130 --> 01:15:52,110
you applied market structure, you can
1724
01:15:52,110 --> 01:15:54,360
now start applying your higher level
1725
01:15:54,390 --> 01:15:56,880
profit objectives by taking this high
1726
01:15:58,980 --> 01:16:00,570
and I'll have to fix it. In a second
1727
01:16:02,550 --> 01:16:06,180
pulling it from the high here, down to
1728
01:16:06,180 --> 01:16:08,790
that low. And we have our 200 extension
1729
01:16:08,790 --> 01:16:10,650
up here. Okay, so that'd be a nice
1730
01:16:10,650 --> 01:16:13,590
second profit level for position trade.
1731
01:16:14,070 --> 01:16:24,120
Okay? If you utilize the expansion tool,
1732
01:16:25,530 --> 01:16:29,760
you take the low forms here and you
1733
01:16:29,760 --> 01:16:33,540
apply it to here. Okay, and your 200
1734
01:16:33,540 --> 01:16:34,650
extensions up here. So you're looking
1735
01:16:34,650 --> 01:16:37,230
for a really long term profit objective.
1736
01:16:37,530 --> 01:16:38,580
It's way up there.
1737
01:16:40,110 --> 01:16:40,650
And
1738
01:16:42,900 --> 01:16:44,940
we're still possibly reaching for that.
1739
01:16:45,150 --> 01:16:50,550
Okay. Which is, I think is rather
1740
01:16:50,610 --> 01:16:52,470
significant. It's above this high here.
1741
01:16:52,860 --> 01:16:54,510
We poked above a here we talked about
1742
01:16:54,510 --> 01:16:57,540
that real time as a cell and then ran
1743
01:16:57,540 --> 01:17:00,960
down but definitely The point of this
1744
01:17:00,960 --> 01:17:05,580
video plugin live market call so I
1745
01:17:05,580 --> 01:17:09,150
apologize for that. It's not my goal
1746
01:17:09,150 --> 01:17:18,840
here is to take this expansion tool off.
1747
01:17:24,780 --> 01:17:26,460
Okay, so you can see how we had this
1748
01:17:26,520 --> 01:17:28,710
trending move reversal and
1749
01:17:28,710 --> 01:17:30,600
consolidation. So now we're applying the
1750
01:17:30,600 --> 01:17:33,810
market profiles, market structure. Okay.
1751
01:17:33,990 --> 01:17:38,190
So now we have a directional bias long
1752
01:17:38,190 --> 01:17:41,370
term back here in the beginning of June.
1753
01:17:42,780 --> 01:17:44,970
We are still in the summer months in
1754
01:17:44,970 --> 01:17:47,910
July. Okay, we we still expect a
1755
01:17:47,910 --> 01:17:52,530
seasonal rally. Okay. And you see this
1756
01:17:52,530 --> 01:18:00,000
run up now. We also can apply standard
1757
01:18:02,910 --> 01:18:06,120
Price patterns like ascending triangles,
1758
01:18:06,150 --> 01:18:07,560
which is what you see in my video, I
1759
01:18:07,560 --> 01:18:11,010
talked about this in the video and then
1760
01:18:11,010 --> 01:18:12,900
talked about projections which led to
1761
01:18:12,900 --> 01:18:14,670
this retest of this old high back here.
1762
01:18:14,790 --> 01:18:16,740
And again, I did all that back in June,
1763
01:18:17,160 --> 01:18:20,340
okay, late May, early June. And I was
1764
01:18:20,340 --> 01:18:23,190
calling these highs back here before
1765
01:18:23,190 --> 01:18:25,590
they actually happened. So now let's
1766
01:18:25,590 --> 01:18:27,720
take a step back. Okay, and think about
1767
01:18:27,720 --> 01:18:30,000
what we've covered. Just for position
1768
01:18:30,000 --> 01:18:32,640
trading. Okay. We could look for entries
1769
01:18:32,640 --> 01:18:37,530
here. Okay, and using market profiles
1770
01:18:37,530 --> 01:18:39,810
and market structure, and blending all
1771
01:18:39,810 --> 01:18:41,040
the things that we've talked about in
1772
01:18:41,040 --> 01:18:43,050
other videos. Okay, we arrived at a
1773
01:18:43,050 --> 01:18:45,450
directional bias. We're looking to get
1774
01:18:45,450 --> 01:18:48,240
long. Okay, once we take out old highs,
1775
01:18:48,570 --> 01:18:49,830
you just go to the left side of your
1776
01:18:49,830 --> 01:18:52,110
chart, and there's going to be new old
1777
01:18:52,110 --> 01:18:54,000
highs that you have to reach for if
1778
01:18:54,030 --> 01:18:56,160
price gets above this high here, from
1779
01:18:56,160 --> 01:18:57,900
here. In other words, we're rallying up
1780
01:18:58,320 --> 01:18:59,430
and we make this high and starts to
1781
01:18:59,430 --> 01:19:01,170
retrace And we go into an optimal trade
1782
01:19:01,170 --> 01:19:04,050
entry. From this buy, where's the worst
1783
01:19:04,050 --> 01:19:05,790
objective going to be on the upside
1784
01:19:05,820 --> 01:19:07,170
initially, it's going to be this old
1785
01:19:07,170 --> 01:19:09,780
high back here. And you see it fails
1786
01:19:09,780 --> 01:19:11,280
here initially comes back and retest
1787
01:19:11,280 --> 01:19:12,510
again. But notice what's happening.
1788
01:19:12,990 --> 01:19:15,210
Every time it comes back, it's providing
1789
01:19:15,210 --> 01:19:17,550
a new buying opportunities, okay? Then
1790
01:19:17,550 --> 01:19:20,220
we have it break this high here, rate
1791
01:19:20,250 --> 01:19:22,410
there, and it comes back and find
1792
01:19:22,410 --> 01:19:25,110
support there. And then mark structure
1793
01:19:25,110 --> 01:19:28,590
continues to keep making higher lows as
1794
01:19:28,590 --> 01:19:31,920
it reaches for new highs going higher.
1795
01:19:32,340 --> 01:19:34,320
Okay, so what is it pressing for? Was it
1796
01:19:34,320 --> 01:19:36,420
reaching for, it's going to reach for an
1797
01:19:36,420 --> 01:19:38,550
old level of resistance, which is back
1798
01:19:38,550 --> 01:19:41,700
here. Okay. So now, we would be reaching
1799
01:19:41,700 --> 01:19:47,100
for this level for long here, and had
1800
01:19:47,100 --> 01:19:48,690
you done that you would have been able
1801
01:19:48,690 --> 01:19:50,370
to get some profits, very handsome
1802
01:19:50,370 --> 01:19:52,410
profits here. And if you were using that
1803
01:19:52,410 --> 01:19:55,530
as your secondary exit point, again, not
1804
01:19:55,560 --> 01:19:57,390
using the ideal point of entry on this.
1805
01:19:58,140 --> 01:20:00,540
eyeball on, we just use the old Hi back
1806
01:20:00,540 --> 01:20:04,260
here. That's 965 pips. So if you first
1807
01:20:04,260 --> 01:20:06,840
profit was 575. And your second profit
1808
01:20:06,990 --> 01:20:10,920
was 965 pips. Yeah, good grief. You
1809
01:20:10,920 --> 01:20:12,750
know, you're not doing a whole lot of
1810
01:20:12,750 --> 01:20:16,230
trading, but you're also taking off the
1811
01:20:16,230 --> 01:20:18,780
market a huge amount of pips. So if
1812
01:20:18,780 --> 01:20:20,520
you're just now getting yourself
1813
01:20:20,610 --> 01:20:22,560
acclimated to trading, and you have a
1814
01:20:22,620 --> 01:20:24,270
full time job, and you maybe have kids
1815
01:20:24,270 --> 01:20:25,770
you got to take care of, there's no
1816
01:20:25,770 --> 01:20:27,810
excuse why you can't take profits out of
1817
01:20:27,810 --> 01:20:32,730
the marketplace. But the point is, is if
1818
01:20:32,730 --> 01:20:35,220
you start with this premise, it'll help
1819
01:20:35,220 --> 01:20:38,220
you when you start applying some changes
1820
01:20:38,220 --> 01:20:39,840
to your life that you hopefully can do.
1821
01:20:40,140 --> 01:20:42,720
And allow yourself to get more closer to
1822
01:20:42,720 --> 01:20:44,460
swing trading or short term trading, you
1823
01:20:44,460 --> 01:20:45,990
actually have a lot more participation
1824
01:20:45,990 --> 01:20:49,800
in the marketplace. This approach to
1825
01:20:49,860 --> 01:20:53,430
analysis will provide you a wealth of
1826
01:20:53,430 --> 01:20:55,590
insight, huge amount of insight, okay,
1827
01:20:55,590 --> 01:20:56,730
cuz we're getting ready to take a huge
1828
01:20:56,730 --> 01:20:59,910
step. Okay. And those that have missed
1829
01:20:59,910 --> 01:21:01,620
it. Up to this point in the last three
1830
01:21:01,620 --> 01:21:04,890
years on my journey with you guys on
1831
01:21:04,890 --> 01:21:08,220
baby pips and sharing, you're going to
1832
01:21:08,700 --> 01:21:10,530
hopefully have that epiphany, okay, it's
1833
01:21:10,530 --> 01:21:12,240
going to be Whoa, there it is. It makes
1834
01:21:12,240 --> 01:21:15,360
sense now. Okay. We have been talking,
1835
01:21:15,750 --> 01:21:18,360
okay, most of this video just about the
1836
01:21:18,360 --> 01:21:20,070
monthly, weekly and a daily now we're
1837
01:21:20,070 --> 01:21:21,690
just spending a little bit of time on a
1838
01:21:21,690 --> 01:21:22,980
one hour four hour chart just to
1839
01:21:23,430 --> 01:21:26,460
illustrate, you know, how these things
1840
01:21:26,460 --> 01:21:29,040
work out using the higher timeframe. So,
1841
01:21:29,220 --> 01:21:30,840
we've covered the position trading,
1842
01:21:30,900 --> 01:21:32,820
okay, and we've arrived at a directional
1843
01:21:32,820 --> 01:21:34,920
premise here. Okay. So if you're a
1844
01:21:34,920 --> 01:21:35,970
position trader, this is how it could
1845
01:21:35,970 --> 01:21:39,300
have been done. Okay. Now, we're gonna
1846
01:21:39,330 --> 01:21:41,460
get ready, take a huge step, we're gonna
1847
01:21:41,460 --> 01:21:44,670
take a huge step forward, okay, and
1848
01:21:44,670 --> 01:21:48,840
apply even more detail to the same
1849
01:21:48,840 --> 01:21:53,190
premise. Okay, so now what we've done is
1850
01:21:53,190 --> 01:21:58,020
we've essentially mapped out a time
1851
01:22:00,000 --> 01:22:00,870
Price.
1852
01:22:03,690 --> 01:22:06,990
Okay, and now I'm going to for the sake
1853
01:22:06,990 --> 01:22:10,170
of honesty, because I wouldn't have
1854
01:22:10,170 --> 01:22:13,290
known exactly when timewise it reached
1855
01:22:13,290 --> 01:22:15,750
this area in terms of price, but I
1856
01:22:15,750 --> 01:22:18,000
extended it past a little bit, but this
1857
01:22:18,000 --> 01:22:19,230
is the high would have been aiming for.
1858
01:22:19,230 --> 01:22:21,990
So from this point in here, the ranges
1859
01:22:21,990 --> 01:22:24,030
the old high here and wherever we would
1860
01:22:24,030 --> 01:22:25,950
have entered a higher timeframe,
1861
01:22:26,400 --> 01:22:28,950
positional trade. Okay, so now watch
1862
01:22:28,950 --> 01:22:31,350
what's happening. We're going to be now
1863
01:22:31,350 --> 01:22:34,380
moving into the realm of swing trading.
1864
01:22:34,830 --> 01:22:37,020
Okay, so how do you arrive at your
1865
01:22:37,020 --> 01:22:38,670
directional premise for swing trading?
1866
01:22:39,120 --> 01:22:42,780
Well, it doesn't take a rocket scientist
1867
01:22:42,930 --> 01:22:44,970
to figure out that if we're higher
1868
01:22:44,970 --> 01:22:47,730
timeframe, positional trading, expecting
1869
01:22:47,730 --> 01:22:50,070
this type of move higher, okay, and
1870
01:22:50,070 --> 01:22:53,490
again, it's very, very, very important.
1871
01:22:53,520 --> 01:22:55,740
You guys go back and look at the videos
1872
01:22:56,310 --> 01:22:59,400
that I did during the late spring in
1873
01:22:59,460 --> 01:23:02,550
hole. The whole entire month of August
1874
01:23:02,580 --> 01:23:05,580
in June and July. I call this market
1875
01:23:05,580 --> 01:23:07,590
higher using what I'm sharing with you
1876
01:23:07,590 --> 01:23:09,870
now. Okay? So you know, it works in
1877
01:23:09,870 --> 01:23:12,000
advance. It's not like I went backwards
1878
01:23:12,000 --> 01:23:14,010
and giving you the best of the best.
1879
01:23:14,670 --> 01:23:17,340
This is how it's done. Okay? And I use
1880
01:23:17,340 --> 01:23:19,380
higher timeframe directional premise to
1881
01:23:19,380 --> 01:23:21,870
facilitate all of my other trades. Okay.
1882
01:23:22,680 --> 01:23:25,260
So now let's break this down into a
1883
01:23:25,770 --> 01:23:27,660
means of swing trading. So now we're
1884
01:23:27,660 --> 01:23:31,800
gonna change to a daily Okay, and now
1885
01:23:31,800 --> 01:23:34,110
you can see by looking into daily, this
1886
01:23:34,110 --> 01:23:38,010
is that portion of the market, okay,
1887
01:23:38,160 --> 01:23:40,230
we've mapped out for a high probability
1888
01:23:40,740 --> 01:23:43,590
of seeing a buy program, okay, now by
1889
01:23:43,590 --> 01:23:45,420
programmers, when you look primarily for
1890
01:23:45,420 --> 01:23:49,050
buys, okay? The direction is most likely
1891
01:23:49,560 --> 01:23:52,350
to have least resistance going up. Okay,
1892
01:23:52,350 --> 01:23:53,520
so that's the best. Basically what
1893
01:23:53,520 --> 01:23:55,980
you're doing is, as a trader, you map
1894
01:23:55,980 --> 01:23:57,600
out the marketplace. You're looking for
1895
01:23:57,600 --> 01:24:01,170
the least of Resistance, because that's
1896
01:24:01,170 --> 01:24:02,400
exactly where the markets going to go.
1897
01:24:02,700 --> 01:24:04,620
Okay? Whenever there's the least amount
1898
01:24:04,620 --> 01:24:06,930
of resistance, that's the highest
1899
01:24:06,930 --> 01:24:08,910
probability in terms of trade direction.
1900
01:24:08,940 --> 01:24:10,440
So that's, that's one of the easiest
1901
01:24:10,440 --> 01:24:13,770
ways to remember. Where is the open
1902
01:24:13,770 --> 01:24:16,680
spaces and charts. Okay? Once you break
1903
01:24:16,680 --> 01:24:17,940
these highs, look what you had back
1904
01:24:17,940 --> 01:24:19,800
here. You have a very short term high
1905
01:24:19,800 --> 01:24:21,060
here, and then you had some
1906
01:24:21,060 --> 01:24:22,950
consolidation there. But look what
1907
01:24:22,950 --> 01:24:24,600
happened after that boom vertical,
1908
01:24:24,660 --> 01:24:26,610
because it was filling in all this price
1909
01:24:26,610 --> 01:24:29,340
action. There's no discernible. Okay.
1910
01:24:30,000 --> 01:24:31,320
support resistance, and now there were
1911
01:24:31,320 --> 01:24:32,730
short term that you could have used
1912
01:24:32,730 --> 01:24:33,990
obviously, and as we look into smaller
1913
01:24:33,990 --> 01:24:35,940
timeframes, but the point is, is there's
1914
01:24:36,090 --> 01:24:38,370
very little resistance in terms of the
1915
01:24:38,370 --> 01:24:40,740
higher timeframe price move, because
1916
01:24:41,430 --> 01:24:43,740
once we found consolidation here, there
1917
01:24:43,740 --> 01:24:45,420
was accumulation on their way here. We
1918
01:24:45,420 --> 01:24:47,760
talked about this real time. Okay, that
1919
01:24:47,760 --> 01:24:49,440
means the big boys, the institutional
1920
01:24:49,440 --> 01:24:50,940
players, okay, they were accumulating
1921
01:24:50,940 --> 01:24:53,640
Long's in here. There's a lot of folks
1922
01:24:53,640 --> 01:24:55,410
that were calling this market low here.
1923
01:24:55,800 --> 01:24:56,970
Lower, it's going to go low. It's gonna
1924
01:24:56,970 --> 01:24:59,520
go a call to five or lower here, not us.
1925
01:25:00,000 --> 01:25:01,890
We knew looking at charts that there was
1926
01:25:01,890 --> 01:25:04,530
accumulation going on the way. Now, with
1927
01:25:04,530 --> 01:25:05,940
that premise in mind, all we did was
1928
01:25:05,940 --> 01:25:08,310
wait for price action to prove to us
1929
01:25:08,310 --> 01:25:10,500
that it was going to go higher. Okay, so
1930
01:25:10,500 --> 01:25:13,560
now we have the daily chart here, and
1931
01:25:13,560 --> 01:25:15,180
we're moving down into a swing traders
1932
01:25:15,180 --> 01:25:18,210
mindset. Okay, so now you're not so much
1933
01:25:18,300 --> 01:25:20,100
a position trader, you want to have a
1934
01:25:20,100 --> 01:25:22,290
little bit more active role in trading.
1935
01:25:22,650 --> 01:25:24,420
And that means your trades are going to
1936
01:25:24,420 --> 01:25:26,010
be a little bit longer than one week.
1937
01:25:26,160 --> 01:25:27,690
Okay, so it could be one week to a
1938
01:25:27,690 --> 01:25:32,130
month. Let's break this down and take a
1939
01:25:32,130 --> 01:25:35,790
look at how you as a trader could be a
1940
01:25:35,790 --> 01:25:38,280
swing trader. Now I'm going to have to
1941
01:25:38,280 --> 01:25:40,470
unfortunately change the color of this
1942
01:25:41,040 --> 01:25:44,370
rectangle because it's just a little too
1943
01:25:44,370 --> 01:25:49,440
much. In terms of blue, there's nothing
1944
01:25:49,440 --> 01:25:52,470
wrong with blue. I just can't have it
1945
01:25:53,160 --> 01:25:54,060
looking like this.
1946
01:26:02,760 --> 01:26:05,400
See what that does? It doesn't help me
1947
01:26:05,400 --> 01:26:05,880
out you.
1948
01:26:08,610 --> 01:26:09,960
It's good to love it darker.
1949
01:26:12,389 --> 01:26:16,379
And let's go to purple and light work.
1950
01:26:17,459 --> 01:26:18,779
Yeah, that's alright. That's good. And
1951
01:26:18,779 --> 01:26:20,189
if it doesn't work for you guys, yeah,
1952
01:26:20,219 --> 01:26:24,419
suck it up. So we have the market Mark
1953
01:26:24,629 --> 01:26:26,759
market structure shift that took place
1954
01:26:26,759 --> 01:26:29,489
back in here in the beginning of June.
1955
01:26:29,639 --> 01:26:33,479
Okay. So now as a swing trader, okay,
1956
01:26:33,479 --> 01:26:34,589
what you're going to do is you're going
1957
01:26:34,589 --> 01:26:37,109
to wait for your higher timeframe
1958
01:26:37,199 --> 01:26:40,199
directional premise to come into play
1959
01:26:40,199 --> 01:26:42,149
and using the daily chart, that's your
1960
01:26:42,359 --> 01:26:45,809
primary high timeframe chart. Okay. And
1961
01:26:45,809 --> 01:26:49,139
assuming that and you're looking at
1962
01:26:49,139 --> 01:26:51,569
price making this rally up here, okay,
1963
01:26:51,809 --> 01:26:53,999
you as a swing trader, the setup you
1964
01:26:53,999 --> 01:26:58,559
would be hunting was this from this low
1965
01:27:00,209 --> 01:27:03,929
Hi, right in here. Now again, I'm going
1966
01:27:03,929 --> 01:27:05,879
to counsel you to go and look at the
1967
01:27:05,879 --> 01:27:09,899
videos. You'll see me with a trade long
1968
01:27:09,929 --> 01:27:12,179
here. And it was a swing trade. Okay.
1969
01:27:12,719 --> 01:27:14,129
And this is the reason why I did it.
1970
01:27:14,639 --> 01:27:16,709
Because I anticipated this range here,
1971
01:27:16,739 --> 01:27:18,899
the retracement back, we were still
1972
01:27:19,109 --> 01:27:22,109
within a higher time frame probability
1973
01:27:22,109 --> 01:27:24,089
of at least trying to trade back in the
1974
01:27:24,089 --> 01:27:26,309
range that was from this high to this
1975
01:27:26,309 --> 01:27:28,499
low. So now again, all I'm sticking with
1976
01:27:28,499 --> 01:27:30,869
is that higher time frame premise or a
1977
01:27:30,929 --> 01:27:33,359
bullish scenario. Okay, so I'm expecting
1978
01:27:33,359 --> 01:27:35,399
bullish prices. So now what am I going
1979
01:27:35,399 --> 01:27:37,919
to do as a swing trader? I'm gonna be
1980
01:27:37,919 --> 01:27:41,189
looking for trade like this. Okay, this
1981
01:27:41,189 --> 01:27:43,499
low to high and I'm going to be looking
1982
01:27:43,499 --> 01:27:46,379
to get long here. Okay. So now watch.
1983
01:27:47,099 --> 01:27:50,219
We're going to go down into that same
1984
01:27:50,219 --> 01:27:54,959
little area. And we'll just take the 62
1985
01:27:56,279 --> 01:27:59,159
to 79 and block out that little area
1986
01:27:59,159 --> 01:28:02,009
here. Okay. So we have identified a
1987
01:28:02,009 --> 01:28:04,469
level when we would expect to see the
1988
01:28:04,469 --> 01:28:08,069
auto trade entry form. Okay? We saw old
1989
01:28:08,069 --> 01:28:10,559
highs in here, old lows in here. So we
1990
01:28:10,559 --> 01:28:15,419
do know around that 154 20 level, okay
1991
01:28:15,449 --> 01:28:20,549
or 154 figure that's highly likely that
1992
01:28:20,549 --> 01:28:22,019
we will see a bounce there because we're
1993
01:28:22,019 --> 01:28:23,729
inside the optimal trade entry 62 to
1994
01:28:23,729 --> 01:28:25,079
seven nights of chasing level in the fib
1995
01:28:25,439 --> 01:28:27,599
based on this retracement of this high
1996
01:28:27,989 --> 01:28:30,029
in this low in here. So we traced back
1997
01:28:30,059 --> 01:28:32,249
into a deeper retracement while still
1998
01:28:32,249 --> 01:28:33,869
being in a higher time frame bullish
1999
01:28:33,869 --> 01:28:35,279
scenario that we just mapped out from
2000
01:28:35,279 --> 01:28:37,589
the monthly, weekly and daily. So now
2001
01:28:37,589 --> 01:28:43,829
let's drill in to a four hour which is
2002
01:28:43,829 --> 01:28:48,659
the next chart that we utilize. Okay, so
2003
01:28:48,659 --> 01:28:50,219
now we have that little area down in
2004
01:28:50,219 --> 01:28:52,889
here. Okay, so now you're gonna apply
2005
01:28:53,309 --> 01:28:54,719
all the concepts we've already talked
2006
01:28:54,719 --> 01:28:58,889
about. Okay? You see this low to this
2007
01:28:58,889 --> 01:29:02,429
high in here. If this is the area we're
2008
01:29:02,429 --> 01:29:05,639
hunting for possible low to form to get
2009
01:29:05,639 --> 01:29:07,619
long on that higher timeframe daily,
2010
01:29:08,519 --> 01:29:11,669
okay to hunt a optimal trade entry long
2011
01:29:12,989 --> 01:29:14,879
look what happens if you take that low
2012
01:29:15,689 --> 01:29:19,199
and you apply one of our trademark
2013
01:29:19,199 --> 01:29:28,169
patterns ICT Grail oops. Yeah, well,
2014
01:29:29,219 --> 01:29:31,289
here's the 62% retracement level here.
2015
01:29:32,189 --> 01:29:33,629
Okay, it's overlapping with this level
2016
01:29:33,629 --> 01:29:37,019
here on this low. Here is the level is
2017
01:29:37,019 --> 01:29:39,749
200 level this is how we hunt the ICT
2018
01:29:39,749 --> 01:29:41,789
reflection. So we have a confluence a
2019
01:29:41,789 --> 01:29:43,649
lot of factors here suggesting this is
2020
01:29:43,649 --> 01:29:46,199
going to be low. And again, please go
2021
01:29:46,199 --> 01:29:48,959
back to the videos during these months.
2022
01:29:49,079 --> 01:29:50,969
Okay, when I'm doing pro traders clubs
2023
01:29:50,969 --> 01:29:52,949
and, and market reviews on the weekend,
2024
01:29:53,429 --> 01:29:56,129
you'll see me talk about these and show
2025
01:29:56,129 --> 01:29:58,349
you okay in many times there's examples
2026
01:29:58,349 --> 01:30:01,109
of trade entries and actual live events
2027
01:30:01,139 --> 01:30:03,599
where actually did trades and show you
2028
01:30:03,599 --> 01:30:06,149
the results of it. But here you have a
2029
01:30:06,209 --> 01:30:09,209
reflection pattern overlapping with a
2030
01:30:09,209 --> 01:30:13,859
higher level. ot. Okay, so this is your
2031
01:30:13,859 --> 01:30:18,749
entry for a swing trade. Okay? But if
2032
01:30:18,749 --> 01:30:21,479
you miss this one, okay, if you miss
2033
01:30:21,479 --> 01:30:26,009
this one, we're on a second chart on our
2034
01:30:26,069 --> 01:30:27,869
higher timeframe for swing trading the
2035
01:30:27,869 --> 01:30:30,299
dailies the highest and the four hour is
2036
01:30:30,299 --> 01:30:31,439
a secondary, this is what we're looking
2037
01:30:31,439 --> 01:30:33,749
at now the four hour but if you miss
2038
01:30:33,749 --> 01:30:39,449
this, how do you take action? Think how
2039
01:30:39,449 --> 01:30:41,159
do you take action if you want to be a
2040
01:30:41,159 --> 01:30:44,069
swing trader and you miss the easiest
2041
01:30:45,719 --> 01:30:47,549
entry in terms of the higher timeframe
2042
01:30:47,549 --> 01:30:49,169
daily? What do you do?
2043
01:30:51,240 --> 01:30:53,280
You wait for market structure to prove
2044
01:30:53,280 --> 01:30:56,040
to you that it's gonna go higher. Okay,
2045
01:30:56,160 --> 01:30:58,530
and that's this high right here. When
2046
01:30:58,530 --> 01:31:01,650
now is taken out here Okay, you don't
2047
01:31:01,710 --> 01:31:03,660
chase after once railing it like this,
2048
01:31:03,930 --> 01:31:06,450
because you're zoomed out to a daily and
2049
01:31:06,450 --> 01:31:07,980
four hour, you're going to allow it to
2050
01:31:07,980 --> 01:31:11,010
run up and give you a range. And then
2051
01:31:11,010 --> 01:31:12,780
when it starts to retrace, what do you
2052
01:31:12,780 --> 01:31:15,750
do? you map out where the next signal is
2053
01:31:15,750 --> 01:31:18,240
going to likely to occur turn based on
2054
01:31:18,240 --> 01:31:21,150
price. Okay, what does that look like?
2055
01:31:21,150 --> 01:31:23,460
Well, you take your fib, and here's the
2056
01:31:23,460 --> 01:31:25,530
lowest that you missed, but you may be
2057
01:31:25,530 --> 01:31:30,180
anticipated. Here's the new range. Okay,
2058
01:31:30,210 --> 01:31:32,940
this low, too high. Your directional
2059
01:31:32,940 --> 01:31:37,050
premise is still What? Long? Okay, you
2060
01:31:37,050 --> 01:31:39,240
want to be a buyer. So you wait for
2061
01:31:39,240 --> 01:31:40,260
price to come down, look at the
2062
01:31:40,260 --> 01:31:42,480
overlapping of setting line and this old
2063
01:31:42,690 --> 01:31:45,630
fib here, we have a nice confluence of
2064
01:31:45,660 --> 01:31:47,490
the optimal trade entry right in here.
2065
01:31:48,000 --> 01:31:50,310
Okay, so now you're getting long at the
2066
01:31:50,310 --> 01:31:52,770
154 80 level behance. Now you can see it
2067
01:31:52,770 --> 01:31:57,150
over here, or 155 figure. Okay, you can
2068
01:31:57,150 --> 01:32:00,000
get long in that and have a wrap
2069
01:32:01,080 --> 01:32:03,660
managable stop. And we haven't gone down
2070
01:32:03,660 --> 01:32:05,610
to the one hour chart yet where we can
2071
01:32:05,610 --> 01:32:06,810
actually zoom and get a tighter
2072
01:32:07,800 --> 01:32:09,270
placement on our entry and stop. But
2073
01:32:09,270 --> 01:32:11,190
we're just going to eyeball it here for
2074
01:32:11,190 --> 01:32:12,960
now, because I'm going to talk about, if
2075
01:32:12,960 --> 01:32:14,940
you do take this trading week long,
2076
01:32:15,660 --> 01:32:19,050
what's the targets? Well think we now
2077
01:32:19,050 --> 01:32:21,360
have this range, we have this high to
2078
01:32:21,360 --> 01:32:23,790
this low. Okay. And you can see how
2079
01:32:23,790 --> 01:32:25,200
price is reaching right back for this
2080
01:32:25,200 --> 01:32:29,580
high here, with what dynamic explosive
2081
01:32:29,580 --> 01:32:31,470
price action in the direction of the
2082
01:32:31,470 --> 01:32:34,110
higher time frame premise. You see this.
2083
01:32:34,440 --> 01:32:35,880
This is the type of trade you want to be
2084
01:32:35,880 --> 01:32:38,190
in. This is institutional sponsorship,
2085
01:32:38,220 --> 01:32:40,590
this is where the big boys are behind
2086
01:32:40,590 --> 01:32:42,780
it. Okay? And what happens is they get
2087
01:32:42,780 --> 01:32:45,090
in a whole lot of it, and Okay, and they
2088
01:32:45,090 --> 01:32:47,040
take some profits off, but they don't
2089
01:32:47,040 --> 01:32:49,200
want to, they don't want to miss another
2090
01:32:49,200 --> 01:32:51,060
opportunity to buy. So they'll stop
2091
01:32:51,060 --> 01:32:52,680
buying and allow the market to fizzle
2092
01:32:52,680 --> 01:32:55,260
down. Okay, and where does it go right
2093
01:32:55,260 --> 01:32:56,910
back to that same entry point where they
2094
01:32:56,910 --> 01:32:58,740
can buy more and accumulate more of it.
2095
01:32:59,010 --> 01:33:00,540
And what do you see again, and Really
2096
01:33:00,900 --> 01:33:03,090
rallies up away from it. And again, they
2097
01:33:03,090 --> 01:33:06,270
put, put the brakes on a little bit
2098
01:33:06,270 --> 01:33:07,860
because they don't want to have too much
2099
01:33:07,860 --> 01:33:09,630
attention drawn to what they're doing.
2100
01:33:09,930 --> 01:33:11,730
So every time it comes back, they're
2101
01:33:11,730 --> 01:33:13,170
buying more of it, buy more of it, buy
2102
01:33:13,170 --> 01:33:15,870
more of it. Okay. But now let's talk
2103
01:33:15,870 --> 01:33:17,580
about this little entry point right
2104
01:33:17,580 --> 01:33:26,430
here. I'm doing is borrowing this
2105
01:33:26,430 --> 01:33:31,500
rectangle. And I'm going to highlight
2106
01:33:31,500 --> 01:33:33,900
this little area here on the one hour
2107
01:33:33,900 --> 01:33:36,060
chart next to the lower level chart for
2108
01:33:36,060 --> 01:33:39,750
swing trading. Okay, now watch what
2109
01:33:39,750 --> 01:33:42,840
happens. We have price trading inside
2110
01:33:42,840 --> 01:33:45,720
that little area here. Okay, at that at
2111
01:33:45,720 --> 01:33:48,270
that higher level, optimal trade entry
2112
01:33:48,270 --> 01:33:53,130
point. Okay. Price rallies up and then
2113
01:33:53,130 --> 01:33:55,170
comes back down inside that range. What
2114
01:33:55,170 --> 01:33:56,400
do you think's gonna happen right here?
2115
01:34:00,000 --> 01:34:02,130
Swing Trader, right. You've mapped out
2116
01:34:02,160 --> 01:34:03,600
your directional premise based on the
2117
01:34:03,600 --> 01:34:07,560
higher time frame. Here is your 79 your
2118
01:34:07,560 --> 01:34:09,750
sweet spot and you're 62 and there's
2119
01:34:09,750 --> 01:34:12,390
your explosive rally up and it doesn't
2120
01:34:12,390 --> 01:34:13,800
take long to get back to these old highs
2121
01:34:13,800 --> 01:34:15,810
here to get profit now what does it look
2122
01:34:15,810 --> 01:34:18,900
like in terms of pips? Well if you get
2123
01:34:18,900 --> 01:34:22,230
in here at the sweet spot and just take
2124
01:34:22,230 --> 01:34:26,520
profit over here, that's 250 pips 260
2125
01:34:26,520 --> 01:34:28,260
pips or so at the best case scenario and
2126
01:34:28,260 --> 01:34:32,100
your exit. Okay. 260 pips there's
2127
01:34:32,100 --> 01:34:33,810
nothing wrong with that and it doesn't
2128
01:34:33,810 --> 01:34:35,340
take but a few hours really to get to
2129
01:34:35,340 --> 01:34:39,630
that point. So inside of a day 260 pips
2130
01:34:39,630 --> 01:34:41,910
man, that's, that's, that's good. And
2131
01:34:41,910 --> 01:34:44,610
that's a swing trade that you could take
2132
01:34:44,970 --> 01:34:47,070
using the higher level timeframe
2133
01:34:47,070 --> 01:34:49,110
directional premise. Again, your
2134
01:34:49,110 --> 01:34:51,960
directional premise should hopefully by
2135
01:34:51,960 --> 01:34:54,090
now, prove to you if you look into
2136
01:34:54,090 --> 01:34:56,370
higher timeframe charts, if you just
2137
01:34:56,370 --> 01:34:58,650
trade just like this, and trade in that
2138
01:34:58,680 --> 01:35:00,000
higher timeframe, directional premise
2139
01:35:01,470 --> 01:35:03,390
You're not going to trade every day. And
2140
01:35:03,390 --> 01:35:05,190
that's okay. Unfortunately, a lot of you
2141
01:35:05,190 --> 01:35:06,720
guys think that you have to be trading
2142
01:35:06,720 --> 01:35:09,120
every single day and you don't. Okay.
2143
01:35:09,120 --> 01:35:11,370
And it's, it's better if you didn't.
2144
01:35:12,900 --> 01:35:14,430
Now, what do we have over here? price
2145
01:35:14,430 --> 01:35:18,510
comes back down. Okay. And let's look at
2146
01:35:18,690 --> 01:35:21,750
the range here. Again, we're working
2147
01:35:23,340 --> 01:35:24,990
with a higher time frame premise that
2148
01:35:25,020 --> 01:35:28,080
we're expecting bullish prices. Okay? We
2149
01:35:28,080 --> 01:35:39,030
have just lost my fib. Okay. Using this
2150
01:35:39,030 --> 01:35:42,030
low here, okay, on the one hour chart,
2151
01:35:42,330 --> 01:35:43,770
your optimal trade entries up here.
2152
01:35:44,820 --> 01:35:47,400
Okay. Now think you're a swing trader,
2153
01:35:47,400 --> 01:35:50,610
right? Are you going to do your trade
2154
01:35:50,610 --> 01:35:52,500
entries on the lowest level?
2155
01:35:54,720 --> 01:35:56,250
Not without consulting your higher
2156
01:35:56,250 --> 01:35:58,770
level, right. So think before we even go
2157
01:35:58,770 --> 01:36:00,750
back to that daily chart, What do you
2158
01:36:00,750 --> 01:36:02,430
think the range is that you're going to
2159
01:36:02,430 --> 01:36:04,410
be utilizing it, this is one that you
2160
01:36:04,410 --> 01:36:06,240
could use if you just stick to the lower
2161
01:36:06,240 --> 01:36:08,130
timeframe. And this is illustrating what
2162
01:36:08,130 --> 01:36:09,720
happens with you guys looking at one
2163
01:36:09,720 --> 01:36:10,890
minute and five minute charts all the
2164
01:36:10,890 --> 01:36:14,430
time. You can't see what you need to see
2165
01:36:14,430 --> 01:36:16,800
when you're so tight to the market. You
2166
01:36:16,800 --> 01:36:19,020
see this old low back here, that's the
2167
01:36:19,020 --> 01:36:21,660
enemy a term low. We have a low with a
2168
01:36:21,660 --> 01:36:24,480
higher low and a higher low with higher
2169
01:36:24,480 --> 01:36:26,880
lows behind it to higher low here,
2170
01:36:27,090 --> 01:36:28,800
that's higher than this one higher low
2171
01:36:28,800 --> 01:36:30,180
here and now we're expecting a higher
2172
01:36:30,180 --> 01:36:32,100
low right, we're hunting it. So this is
2173
01:36:32,100 --> 01:36:33,540
going to make this a long term low.
2174
01:36:34,260 --> 01:36:37,800
Okay. And watch. You have this low to
2175
01:36:37,830 --> 01:36:40,740
work with. And now this high, so this is
2176
01:36:40,740 --> 01:36:44,070
the true range, this low and this high.
2177
01:36:45,060 --> 01:36:48,390
Remember, okay, this high and this low.
2178
01:36:48,690 --> 01:36:51,120
Watch what we do. We're going to take
2179
01:36:51,120 --> 01:36:52,860
the fib and put it on the true range,
2180
01:36:54,060 --> 01:36:56,910
which is the daily you'll see it now
2181
01:36:56,910 --> 01:37:01,530
clearly. Zoom in sorry. Okay, see the
2182
01:37:01,530 --> 01:37:04,050
range here we have the low up to the new
2183
01:37:04,050 --> 01:37:07,110
range high. And as price drops back
2184
01:37:07,110 --> 01:37:08,970
down, we're going to take this other
2185
01:37:08,970 --> 01:37:10,320
fish out because it's a little too much
2186
01:37:10,320 --> 01:37:14,790
going on right now. You can see how we
2187
01:37:14,820 --> 01:37:17,700
go right down into that sweet spot. And
2188
01:37:17,700 --> 01:37:19,770
then there's your rally oh not for your
2189
01:37:19,770 --> 01:37:22,200
nice entry point for secondary entry.
2190
01:37:24,690 --> 01:37:29,430
Okay, so you can see the low to the high
2191
01:37:29,730 --> 01:37:32,820
here is to swing down into that sweet
2192
01:37:32,820 --> 01:37:34,980
spot. So we can actually take that and
2193
01:37:34,980 --> 01:37:38,640
put that here. Okay, and it's mapped out
2194
01:37:38,640 --> 01:37:39,630
where the optimal trade entry is going
2195
01:37:39,630 --> 01:37:42,060
to be. Now if we go down to the four
2196
01:37:42,060 --> 01:37:45,420
hour, you see how price comes right down
2197
01:37:45,420 --> 01:37:47,400
to that point. Now if you see what I'm
2198
01:37:47,400 --> 01:37:49,170
talking about, if you're using this low
2199
01:37:49,500 --> 01:37:51,510
to this high, this might have spooked
2200
01:37:51,510 --> 01:37:54,240
you. Okay, but you've mapped out your
2201
01:37:54,240 --> 01:37:56,610
trade idea from the higher timeframe
2202
01:37:57,240 --> 01:38:01,230
daily down to your For our which is your
2203
01:38:01,230 --> 01:38:03,660
middle level for swing trading, and then
2204
01:38:03,660 --> 01:38:04,860
down to the one hour.
2205
01:38:12,960 --> 01:38:14,640
Okay, which is where we trade into here,
2206
01:38:15,120 --> 01:38:16,950
and now we can fine tune our entry.
2207
01:38:17,220 --> 01:38:19,560
Okay. And what does that look like?
2208
01:38:19,920 --> 01:38:22,650
Well, let's take this in don't even
2209
01:38:22,650 --> 01:38:24,120
pretend just pretend this is not even
2210
01:38:24,120 --> 01:38:26,700
there. Okay? We don't need to see this
2211
01:38:26,760 --> 01:38:28,170
dereference what we're dealing with a
2212
01:38:28,170 --> 01:38:30,330
higher timeframe. What we're looking for
2213
01:38:30,330 --> 01:38:32,700
is the rally away, which is what we get
2214
01:38:32,700 --> 01:38:34,770
here. And then we have this retracement
2215
01:38:34,770 --> 01:38:35,970
down. So what do you think's going to
2216
01:38:35,970 --> 01:38:38,580
happen over here? Well, if you take the
2217
01:38:38,580 --> 01:38:42,630
fib pool from the low up to the high
2218
01:38:44,640 --> 01:38:47,190
here's your sweet spot. You 79 just
2219
01:38:47,580 --> 01:38:49,050
doesn't get touched here. But you do get
2220
01:38:49,050 --> 01:38:50,670
the opportunity trading here inside this
2221
01:38:50,730 --> 01:38:53,340
hourly candle, which forms a nice
2222
01:38:53,340 --> 01:38:55,830
hammer. Okay, and then you have rally
2223
01:38:55,830 --> 01:38:58,380
up. Okay. Now if you miss this
2224
01:38:58,380 --> 01:39:01,770
opportunity here This is a swing high.
2225
01:39:03,090 --> 01:39:04,710
Watch what happens if you miss this one,
2226
01:39:04,740 --> 01:39:06,450
it breaks that swing high here, right?
2227
01:39:06,600 --> 01:39:09,060
See this high here, it's broken now. So
2228
01:39:09,060 --> 01:39:11,670
now we have another shift in market
2229
01:39:11,670 --> 01:39:13,830
structure that's now confirming bullish
2230
01:39:13,830 --> 01:39:16,260
prices. So now when price rallies up and
2231
01:39:16,260 --> 01:39:19,380
starts to retrace, okay, if we missed
2232
01:39:19,380 --> 01:39:20,880
this opportunity, we now have a new
2233
01:39:20,880 --> 01:39:23,970
range of here, this low to this high.
2234
01:39:26,160 --> 01:39:29,730
pull that up to the high here. And
2235
01:39:29,730 --> 01:39:31,740
here's your 62% retracement level here.
2236
01:39:32,190 --> 01:39:35,280
Okay. Or you could use the low that's
2237
01:39:35,280 --> 01:39:38,670
formed right here. Okay, this is
2238
01:39:38,670 --> 01:39:41,280
actually a New York open kill zone so
2239
01:39:41,280 --> 01:39:43,380
you can use this swing point for a
2240
01:39:43,380 --> 01:39:46,980
reference. Again, go look at the
2241
01:39:47,040 --> 01:39:48,690
Fibonacci concepts video and you'll
2242
01:39:48,750 --> 01:39:51,390
it'll talk about where I pull fibs from
2243
01:39:51,450 --> 01:39:54,450
in cases going over your head. And now
2244
01:39:54,450 --> 01:39:56,430
you can see a higher, more higher level
2245
01:39:56,520 --> 01:39:59,490
symmetry in price action here where it
2246
01:39:59,490 --> 01:40:00,750
comes right down to 70 million silent
2247
01:40:00,750 --> 01:40:02,310
treatment level, here's a 62. So he's a
2248
01:40:02,310 --> 01:40:05,190
very nice, handsome sweet spot here on
2249
01:40:05,190 --> 01:40:07,380
an hourly chart. Okay, so you could be
2250
01:40:08,460 --> 01:40:10,500
positioned as well, for a swing trade,
2251
01:40:10,500 --> 01:40:12,600
they're looking for higher prices. So
2252
01:40:12,600 --> 01:40:14,790
you can see how just by utilizing the
2253
01:40:14,790 --> 01:40:18,930
higher time frame premise that you can
2254
01:40:18,930 --> 01:40:21,300
figure it out trade with the directional
2255
01:40:21,300 --> 01:40:24,150
premise, based on that position traders
2256
01:40:24,150 --> 01:40:26,370
mindset. Okay? And really, it just
2257
01:40:26,370 --> 01:40:28,410
equates to the top down analysis that's
2258
01:40:28,410 --> 01:40:32,670
needed. Okay, to be consistently
2259
01:40:32,850 --> 01:40:34,590
profitable, you need to be doing the
2260
01:40:34,590 --> 01:40:36,390
same thing over and over again. And
2261
01:40:36,390 --> 01:40:38,340
you're looking for the higher level
2262
01:40:38,340 --> 01:40:40,290
charts to dictate where your trades
2263
01:40:40,290 --> 01:40:42,000
going to be in what direction, okay.
2264
01:40:42,480 --> 01:40:45,900
Now, again, you can swing trade
2265
01:40:46,140 --> 01:40:48,240
reversals. Okay, here's a high here and
2266
01:40:48,240 --> 01:40:49,860
you could do a turtle soup here and
2267
01:40:49,860 --> 01:40:51,510
swing trader that down into the optimal
2268
01:40:51,510 --> 01:40:53,340
trade entry here. I'm not teaching that
2269
01:40:53,340 --> 01:40:54,810
here, but you certainly can do that. And
2270
01:40:54,810 --> 01:40:56,580
the same thing here. Here's a high when
2271
01:40:56,580 --> 01:40:58,200
price rallies up makes that new high.
2272
01:40:58,860 --> 01:41:00,270
Overall, you're bullish Higher
2273
01:41:00,270 --> 01:41:02,070
timeframe, but you can trade these
2274
01:41:02,070 --> 01:41:05,340
turtle suits down into a retracement and
2275
01:41:05,340 --> 01:41:07,170
still be considered a swing trade, okay?
2276
01:41:07,560 --> 01:41:10,350
But that's advanced stuff. And I'm not
2277
01:41:10,350 --> 01:41:12,060
even gonna try to teach it to you. Okay.
2278
01:41:12,330 --> 01:41:15,330
After time of doing technical analysis
2279
01:41:15,330 --> 01:41:17,820
and trading, you'll see when, and you'll
2280
01:41:17,820 --> 01:41:19,860
know personally when you are able to do
2281
01:41:19,860 --> 01:41:21,630
these type of trades, but I'm teaching
2282
01:41:21,630 --> 01:41:23,070
you to trade with the institutional
2283
01:41:23,070 --> 01:41:25,590
sponsorship that's usually seen on the
2284
01:41:25,590 --> 01:41:27,750
higher level charts like monthly, weekly
2285
01:41:27,750 --> 01:41:30,570
and daily. Okay. So now what we're going
2286
01:41:30,570 --> 01:41:32,220
to do is we're now going to swing down
2287
01:41:32,220 --> 01:41:35,970
to another shorter term perspective, in
2288
01:41:35,970 --> 01:41:40,440
the same area of price. Okay. Now, how
2289
01:41:40,440 --> 01:41:42,480
many times have we shifted gears in
2290
01:41:42,480 --> 01:41:46,350
terms of directional premise? Zero?
2291
01:41:47,460 --> 01:41:51,240
None. Okay. We've arrived at the higher
2292
01:41:51,240 --> 01:41:53,130
level timeframe directional premise,
2293
01:41:53,190 --> 01:41:55,290
okay. And we've established our bias
2294
01:41:55,290 --> 01:41:59,460
based on that. We ain't guessing guys,
2295
01:41:59,520 --> 01:42:01,680
okay, we're sticking in one camp, okay,
2296
01:42:01,680 --> 01:42:04,680
it's based on where the least resistance
2297
01:42:04,680 --> 01:42:06,450
is going to be. And it's found by
2298
01:42:06,450 --> 01:42:07,950
studying the higher timeframe charts.
2299
01:42:08,010 --> 01:42:09,750
Okay, so now let's take a look at short
2300
01:42:09,750 --> 01:42:12,570
term traders mentality. And we've again,
2301
01:42:12,570 --> 01:42:15,510
we've mapped out this area here. So now
2302
01:42:15,510 --> 01:42:18,120
we're looking at is a four hour as our
2303
01:42:18,120 --> 01:42:22,560
higher level timeframe. Okay, here's the
2304
01:42:22,560 --> 01:42:25,260
four level four hour chart, okay? And
2305
01:42:25,620 --> 01:42:27,240
much the same capacity, what you'd be
2306
01:42:27,240 --> 01:42:28,650
looking for is key support resistance
2307
01:42:28,650 --> 01:42:31,830
levels. Okay. And we're going to assume
2308
01:42:31,830 --> 01:42:34,860
for a moment that we understood that
2309
01:42:34,860 --> 01:42:36,750
this is a short term low because we have
2310
01:42:36,750 --> 01:42:39,000
higher lows here and higher lows on
2311
01:42:39,000 --> 01:42:40,920
either side of it. So now we know that
2312
01:42:41,250 --> 01:42:43,050
we have a possible market structure to
2313
01:42:43,050 --> 01:42:48,180
imply at least a low to the high in this
2314
01:42:48,180 --> 01:42:49,680
market structure here. Okay, so we have
2315
01:42:49,710 --> 01:42:52,110
this range from this low to this high.
2316
01:42:52,380 --> 01:42:53,790
Now, it could have been the high that's
2317
01:42:53,790 --> 01:42:55,560
formed over here, if this high was
2318
01:42:55,560 --> 01:42:57,990
higher, and that would have been any
2319
01:42:58,050 --> 01:42:59,490
reference point that would you use for
2320
01:43:00,390 --> 01:43:04,050
What I'm about to do taking the
2321
01:43:05,700 --> 01:43:09,330
high down to that low, okay, at some
2322
01:43:09,330 --> 01:43:11,220
point when these when is highs taken out
2323
01:43:11,370 --> 01:43:13,230
again here, you can see it finding
2324
01:43:13,230 --> 01:43:15,210
support here, we would be reasonably
2325
01:43:15,210 --> 01:43:17,730
expecting a move to these levels up
2326
01:43:17,730 --> 01:43:21,810
here. Okay, so just on market structure
2327
01:43:21,840 --> 01:43:23,880
alone, we have directional premise
2328
01:43:23,910 --> 01:43:26,490
indicating that we have a likelihood of
2329
01:43:26,490 --> 01:43:28,710
fulfilling a upside objective around
2330
01:43:28,710 --> 01:43:33,570
that 161 161 250 level or so. Okay, so
2331
01:43:33,570 --> 01:43:35,700
we have a whole lot of room trading in
2332
01:43:35,700 --> 01:43:37,530
here to get to that point, there's a lot
2333
01:43:37,530 --> 01:43:39,840
of pips available as a short term trader
2334
01:43:39,840 --> 01:43:44,010
doing that. Now again, not losing sight
2335
01:43:44,040 --> 01:43:46,920
of this old high back here as a possible
2336
01:43:46,920 --> 01:43:48,690
upside objective ultimately on the
2337
01:43:48,690 --> 01:43:50,280
higher timeframe long term position
2338
01:43:50,520 --> 01:43:54,900
traders mindset. Now using the short
2339
01:43:54,900 --> 01:43:58,740
term traders, for our Okay, all you're
2340
01:43:58,740 --> 01:44:03,330
looking for really is new range, low to
2341
01:44:03,330 --> 01:44:05,430
high? Okay. And you're going to be
2342
01:44:05,430 --> 01:44:07,740
pulling your fibs from that in the
2343
01:44:07,740 --> 01:44:09,180
higher timeframe directional premise
2344
01:44:09,210 --> 01:44:11,790
going higher. Okay. And all you're doing
2345
01:44:11,790 --> 01:44:13,920
is looking for clear structure swing
2346
01:44:13,920 --> 01:44:18,570
points that make lows to highs and
2347
01:44:18,570 --> 01:44:20,070
employ your fibs from it. Look how many
2348
01:44:20,070 --> 01:44:21,150
times I'm not going to draw it right
2349
01:44:21,150 --> 01:44:23,400
look how many times the market has given
2350
01:44:23,400 --> 01:44:25,830
you optimal trade entries in here, just
2351
01:44:25,830 --> 01:44:28,410
in this point here, on this little area
2352
01:44:28,410 --> 01:44:32,280
here. That's 100 pips or so a couple
2353
01:44:32,280 --> 01:44:33,930
times that was laid on the table, just
2354
01:44:33,930 --> 01:44:35,910
doing short term trades pulling optimal
2355
01:44:35,910 --> 01:44:39,870
trade entries on these swings, okay. But
2356
01:44:40,350 --> 01:44:43,290
we're going to assume that you weren't
2357
01:44:43,350 --> 01:44:47,460
that nimble. Okay. And you've seen, this
2358
01:44:47,460 --> 01:44:49,830
is a nice area of resistance, okay, and
2359
01:44:49,830 --> 01:44:51,840
you want to be safe. You want to be
2360
01:44:51,840 --> 01:44:54,450
trading short term, once this level
2361
01:44:54,450 --> 01:44:55,740
because there's no guarantee that this
2362
01:44:55,740 --> 01:44:59,880
is going to provide a support level
2363
01:45:01,320 --> 01:45:02,700
Because it's going to be a resistance
2364
01:45:02,700 --> 01:45:04,170
level initially right? Or we would
2365
01:45:04,170 --> 01:45:06,330
expect it to be. So as price goes
2366
01:45:06,330 --> 01:45:07,680
through it, this is where you would
2367
01:45:07,680 --> 01:45:10,980
trade as a short term trader, okay, is
2368
01:45:10,980 --> 01:45:13,230
your short term trade here. Now, what
2369
01:45:13,230 --> 01:45:14,760
makes it a short term trade? Well,
2370
01:45:14,760 --> 01:45:17,760
number one we've broken resistance now
2371
01:45:17,760 --> 01:45:20,340
support, we're inside of a higher level
2372
01:45:20,370 --> 01:45:21,780
directional premise on the higher time
2373
01:45:21,780 --> 01:45:23,880
frame, position traders mindset and
2374
01:45:23,880 --> 01:45:26,370
swing traders mindset. We now have a
2375
01:45:26,370 --> 01:45:28,380
very high likelihood of catching a
2376
01:45:28,380 --> 01:45:30,030
bounce here, even if it's ultimately
2377
01:45:30,030 --> 01:45:31,140
going to go up to this high here and
2378
01:45:31,140 --> 01:45:33,270
fail. This has given us a short term
2379
01:45:33,270 --> 01:45:35,340
trading opportunity, which is all true
2380
01:45:35,370 --> 01:45:37,860
short term trader is thinking about. But
2381
01:45:37,890 --> 01:45:39,720
now let's take a look at market market
2382
01:45:39,720 --> 01:45:42,450
structure in terms of the setups see
2383
01:45:42,450 --> 01:45:45,270
this old high here. Now granted, we have
2384
01:45:45,270 --> 01:45:47,130
this high here, and this right here that
2385
01:45:47,130 --> 01:45:49,410
we noted with the resistance level, but
2386
01:45:49,440 --> 01:45:52,350
prior to that, it's this one. Okay, see
2387
01:45:52,350 --> 01:45:55,470
that. So we have this level of content
2388
01:45:55,470 --> 01:45:59,700
with this level actually becomes the one
2389
01:45:59,700 --> 01:46:03,510
fifth 744 level, because that's a nice
2390
01:46:03,510 --> 01:46:06,240
level of anticipated support. So if
2391
01:46:06,240 --> 01:46:07,590
price does slip below that we could at
2392
01:46:07,590 --> 01:46:09,030
least see it trade down to that point.
2393
01:46:09,420 --> 01:46:11,550
But the point we're going to illustrate
2394
01:46:11,550 --> 01:46:13,650
is, this is a reference point that you
2395
01:46:13,650 --> 01:46:15,570
can pull a fib from number hidden
2396
01:46:15,570 --> 01:46:17,790
optimal trade entry, using market
2397
01:46:17,790 --> 01:46:22,860
structure and fibs. We have the 79 cent
2398
01:46:22,860 --> 01:46:25,560
tracing level, converging almost right
2399
01:46:25,560 --> 01:46:28,260
to that same level of support
2400
01:46:28,260 --> 01:46:30,450
resistance. Okay, let me put that on a
2401
01:46:30,450 --> 01:46:31,080
little bit better.
2402
01:46:36,330 --> 01:46:38,160
Okay, right on the high here, you can
2403
01:46:38,160 --> 01:46:39,870
see how the setting I'm setting tracing
2404
01:46:39,870 --> 01:46:41,520
level as almost converging rate with
2405
01:46:41,520 --> 01:46:43,860
that particular price level that we've
2406
01:46:43,860 --> 01:46:45,330
mapped out with support resistance
2407
01:46:45,330 --> 01:46:47,550
levels. Now let's drill down to the
2408
01:46:47,550 --> 01:46:49,830
second chart for short term trading,
2409
01:46:49,830 --> 01:46:51,330
which is the four hour This is your mid
2410
01:46:51,330 --> 01:46:54,060
level timeframe. Okay, get a little bit
2411
01:46:54,060 --> 01:46:56,340
closer view of what we're describing.
2412
01:46:58,560 --> 01:47:01,050
Okay, and you can see how Price slips
2413
01:47:01,050 --> 01:47:03,630
through here. Okay, but you can see the
2414
01:47:03,630 --> 01:47:05,520
reactions at that same price level.
2415
01:47:05,850 --> 01:47:10,140
Okay? Again, I'm gonna play devil's
2416
01:47:10,140 --> 01:47:12,690
advocate, say you missed this one, which
2417
01:47:12,690 --> 01:47:15,900
is fine. Because guess what, if you want
2418
01:47:15,900 --> 01:47:18,510
to be a high odds, consistent trader,
2419
01:47:18,930 --> 01:47:20,910
this is what you would do, you would
2420
01:47:20,910 --> 01:47:22,830
wait. And then it's hard for you guys
2421
01:47:22,830 --> 01:47:24,270
that get in your head. Patience is a
2422
01:47:24,270 --> 01:47:26,340
very difficult thing to teach. You have
2423
01:47:26,340 --> 01:47:29,130
to be trained, you have to sometimes be
2424
01:47:29,130 --> 01:47:32,850
beaten mercilessly, okay, until it's
2425
01:47:32,850 --> 01:47:35,250
ingrained in your psyche that you have
2426
01:47:35,250 --> 01:47:37,170
to wait for certain things sometimes,
2427
01:47:37,200 --> 01:47:39,180
okay, and success and trading,
2428
01:47:39,930 --> 01:47:42,660
enforcing. You need to do these types of
2429
01:47:42,660 --> 01:47:46,230
things and learn to wait, okay? But if
2430
01:47:46,230 --> 01:47:48,120
you see this bounce, this is what you
2431
01:47:48,120 --> 01:47:51,060
would expect to see. You want to see it
2432
01:47:51,060 --> 01:47:53,550
react at that price level. But now watch
2433
01:47:54,090 --> 01:47:55,530
goes to the left side over here. See
2434
01:47:55,530 --> 01:47:57,870
this short term high. There's your
2435
01:47:57,870 --> 01:48:01,560
break. So you have short term market
2436
01:48:01,560 --> 01:48:04,350
structure shift bullish. Okay. So now
2437
01:48:04,350 --> 01:48:06,510
you are in sync looking for now new buy
2438
01:48:06,510 --> 01:48:09,240
signals. Okay? So this high here when
2439
01:48:09,240 --> 01:48:11,400
it's broken, okay, what you're going to
2440
01:48:11,400 --> 01:48:13,950
do is start pulling your fibs on the
2441
01:48:13,950 --> 01:48:17,490
swings. Now we're in a one hour chart.
2442
01:48:17,580 --> 01:48:20,130
Okay? So again, you're using the fibs on
2443
01:48:20,130 --> 01:48:23,220
the four hour or one hour to time, the
2444
01:48:23,220 --> 01:48:25,560
setup or establish to set up the stage.
2445
01:48:25,560 --> 01:48:28,050
In other words, here's your range here
2446
01:48:28,200 --> 01:48:31,410
is low to high, you're setting it and
2447
01:48:31,410 --> 01:48:32,580
tracing levels laying right here
2448
01:48:32,580 --> 01:48:34,500
converging with the level of resistance
2449
01:48:34,500 --> 01:48:36,120
that we've already mapped out. So
2450
01:48:36,120 --> 01:48:39,630
looking to be buying around the 157 80,
2451
01:48:39,660 --> 01:48:41,400
which is not even the sweet spot. Okay,
2452
01:48:41,400 --> 01:48:43,020
this is an institutional, institutional,
2453
01:48:43,020 --> 01:48:44,310
we like to watch the 80s as a nice
2454
01:48:44,310 --> 01:48:47,070
level. You could be a buyer at that
2455
01:48:47,070 --> 01:48:49,170
particular price point. Okay. And then
2456
01:48:49,170 --> 01:48:50,910
there's your short term trade. What's
2457
01:48:50,910 --> 01:48:54,900
your position? objectives? Well, if you
2458
01:48:54,900 --> 01:48:58,200
get into sweet spot, getting back this
2459
01:48:58,230 --> 01:49:00,000
old high here, there's a difference.
2460
01:49:01,080 --> 01:49:03,000
Okay, now if you go back to this old
2461
01:49:03,000 --> 01:49:05,790
market structure swing high here, okay,
2462
01:49:05,790 --> 01:49:07,590
that retraced before we got down to this
2463
01:49:07,590 --> 01:49:09,810
level of support resistance. This level
2464
01:49:09,810 --> 01:49:11,490
here if you took profits there, that's
2465
01:49:11,490 --> 01:49:17,850
120 pips 120 pips right here. And
2466
01:49:18,510 --> 01:49:23,040
there's two very easy levels to derive a
2467
01:49:23,100 --> 01:49:25,290
split position and loads of use and
2468
01:49:25,290 --> 01:49:27,300
double tap, you could take profits here,
2469
01:49:27,570 --> 01:49:33,240
and here. Okay. Now let's look at how we
2470
01:49:33,240 --> 01:49:35,190
have a higher low here, we have a low
2471
01:49:35,190 --> 01:49:37,260
here, we have a higher low here. So we
2472
01:49:37,260 --> 01:49:38,580
have market structure, implying that
2473
01:49:38,580 --> 01:49:42,480
we're hopefully going to see higher lows
2474
01:49:42,480 --> 01:49:45,210
and higher highs. But as we start moving
2475
01:49:45,210 --> 01:49:46,890
forward, okay, and I didn't do this with
2476
01:49:46,890 --> 01:49:48,870
the other timeframes because I wanted to
2477
01:49:48,870 --> 01:49:49,860
move along, but you're going to start
2478
01:49:49,860 --> 01:49:53,850
seeing it become more dynamic. As prices
2479
01:49:53,850 --> 01:49:55,110
moving in the higher timeframe
2480
01:49:55,110 --> 01:49:56,550
directional premise, you want to be
2481
01:49:56,550 --> 01:49:58,740
mapping out the resistance levels once
2482
01:49:58,740 --> 01:50:00,510
they're broken. We didn't They tend to
2483
01:50:00,510 --> 01:50:05,130
become support resistance, okay? As the
2484
01:50:05,130 --> 01:50:06,930
market begins to move higher and higher
2485
01:50:06,930 --> 01:50:09,450
and higher, all these retracements are
2486
01:50:09,480 --> 01:50:11,070
new opportunities to take short term
2487
01:50:11,070 --> 01:50:14,130
trades going along. Now, if you look at
2488
01:50:15,120 --> 01:50:16,650
the vertical lines now because now we
2489
01:50:16,650 --> 01:50:18,450
can start looking at intraday divisions
2490
01:50:18,450 --> 01:50:22,410
in terms of where particular days of the
2491
01:50:22,410 --> 01:50:25,350
week are forming, you'll start seeing
2492
01:50:25,650 --> 01:50:27,480
that we've we've talked about for three
2493
01:50:27,480 --> 01:50:31,590
years now, how the week's low in a
2494
01:50:31,590 --> 01:50:34,350
bullish scenario, many times will be
2495
01:50:34,470 --> 01:50:37,470
between Sunday's opening and Tuesdays
2496
01:50:37,560 --> 01:50:40,020
London open and if it's not, Tuesdays
2497
01:50:40,020 --> 01:50:41,220
London open and certainly gonna be on
2498
01:50:41,220 --> 01:50:42,870
Wednesdays London open typically,
2499
01:50:43,020 --> 01:50:45,300
there's 70% chance that you're going to
2500
01:50:45,300 --> 01:50:49,410
see it. unfold this very way. So, again,
2501
01:50:49,410 --> 01:50:50,370
don't take my word on look at your
2502
01:50:50,370 --> 01:50:52,140
charts and you'll see it but the double
2503
01:50:52,140 --> 01:50:55,050
lines here delineating Sundays, okay, so
2504
01:50:55,050 --> 01:50:56,910
we have a new week here with
2505
01:50:56,910 --> 01:50:59,850
bullishness. We have Monday's trading
2506
01:51:00,000 --> 01:51:02,370
Tuesday trading, here's Wednesday. Okay,
2507
01:51:02,370 --> 01:51:04,020
so here's the low that you could have
2508
01:51:04,020 --> 01:51:06,240
traded as a short term trader. Okay, and
2509
01:51:06,240 --> 01:51:08,760
just there you go. Short term trade
2510
01:51:08,760 --> 01:51:11,340
couple days, up to a week. Okay,
2511
01:51:11,670 --> 01:51:13,080
answering on Wednesday, here's Thursday,
2512
01:51:13,080 --> 01:51:15,930
here's Friday, three days. Let's take a
2513
01:51:15,930 --> 01:51:16,920
look at what the PIP haul would have
2514
01:51:16,920 --> 01:51:17,490
been on that.
2515
01:51:20,040 --> 01:51:22,380
Again, your short term trader, this is
2516
01:51:22,380 --> 01:51:24,570
the highest level and lowest level
2517
01:51:24,600 --> 01:51:26,400
available to you as a short term trader
2518
01:51:26,400 --> 01:51:30,000
inside week there's 210 pips. Okay, in
2519
01:51:30,000 --> 01:51:33,150
one week. Now, again, we have another
2520
01:51:33,150 --> 01:51:36,660
scenario here, we have a new level of
2521
01:51:36,660 --> 01:51:38,820
support resistance. So you can just take
2522
01:51:38,820 --> 01:51:39,630
this level here.
2523
01:51:48,840 --> 01:51:53,850
Just draw a new one. We have new support
2524
01:51:53,850 --> 01:51:56,790
resistance levels to work with. Short
2525
01:51:56,790 --> 01:52:01,470
term high here. It breaks through This
2526
01:52:01,470 --> 01:52:06,060
level here same application of fib using
2527
01:52:06,060 --> 01:52:09,300
old Mark structure hi to a new high here
2528
01:52:11,040 --> 01:52:12,510
here's your segments and tracing level
2529
01:52:12,510 --> 01:52:15,150
here right to the pit. Okay, and you
2530
01:52:15,150 --> 01:52:16,980
want to be a buyer here with first
2531
01:52:16,980 --> 01:52:18,810
profit of this old low I'm sorry his old
2532
01:52:18,810 --> 01:52:22,170
high he just did that. Again directional
2533
01:52:22,170 --> 01:52:24,750
premise is what guys we've already
2534
01:52:24,750 --> 01:52:26,070
arrived at it based on the higher
2535
01:52:26,070 --> 01:52:28,560
timeframe that we're looking for buys.
2536
01:52:28,770 --> 01:52:30,840
Why because the institutional sponsors
2537
01:52:30,840 --> 01:52:32,850
that that we would hopefully like to see
2538
01:52:32,850 --> 01:52:34,890
our trades are going to be looking to be
2539
01:52:34,890 --> 01:52:37,230
buyers. So here 67 pips first profit.
2540
01:52:38,310 --> 01:52:41,220
Okay, and then remaining, you know, the
2541
01:52:41,220 --> 01:52:43,080
low forming here for this week on
2542
01:52:43,110 --> 01:52:47,280
Monday. Okay, so over rules, you can see
2543
01:52:47,280 --> 01:52:50,370
them unfolding to you to the letter,
2544
01:52:50,790 --> 01:52:52,200
okay. And if you're a short term trader,
2545
01:52:52,200 --> 01:52:53,850
you could take first profit here and
2546
01:52:53,850 --> 01:52:56,880
hope for the weekly range. Oh, what?
2547
01:52:57,000 --> 01:52:59,250
Yeah, hopefully weekly range. Take some
2548
01:52:59,250 --> 01:53:01,440
profits, right? Friday. Sure, let's look
2549
01:53:01,440 --> 01:53:05,580
at take a look at that. And not even you
2550
01:53:05,580 --> 01:53:08,430
guys are saying what sounds unbelievable
2551
01:53:09,360 --> 01:53:11,850
272 pips again inside the same week,
2552
01:53:12,150 --> 01:53:14,100
okay, your short term trader, it's a
2553
01:53:14,100 --> 01:53:18,420
week or less. Okay? Now we're
2554
01:53:18,420 --> 01:53:20,640
approaching these levels where that old
2555
01:53:20,640 --> 01:53:23,190
high was okay that we're on that 163
2556
01:53:23,190 --> 01:53:25,050
figure. Okay, so when we trade up to
2557
01:53:25,050 --> 01:53:27,030
that point, okay, we want to be a little
2558
01:53:27,030 --> 01:53:29,280
bit more leery of taking new bicycles
2559
01:53:29,280 --> 01:53:31,800
until we can see that old high being
2560
01:53:31,800 --> 01:53:36,150
broken. That being this high here, which
2561
01:53:36,150 --> 01:53:39,510
we didn't do, but by pepper, so, okay,
2562
01:53:39,510 --> 01:53:46,650
so when you see this event, okay, like
2563
01:53:46,650 --> 01:53:49,740
this. There's a whole lot of opportunity
2564
01:53:49,740 --> 01:53:51,900
to trade, but there's a whole lot more
2565
01:53:51,900 --> 01:53:53,490
opportunities when you should not trade.
2566
01:53:53,880 --> 01:53:55,800
Okay? And if you haven't learned that
2567
01:53:55,830 --> 01:53:58,470
over the last three years, it's time to
2568
01:53:58,470 --> 01:54:00,570
learn it. Okay, because it's It's
2569
01:54:00,600 --> 01:54:02,850
important that you understand how the
2570
01:54:02,850 --> 01:54:04,830
markets work with the higher time frame
2571
01:54:04,830 --> 01:54:06,180
premise in mind working with a higher
2572
01:54:06,180 --> 01:54:08,520
level key support resistance levels, the
2573
01:54:08,520 --> 01:54:11,820
banks and the big players are working
2574
01:54:11,820 --> 01:54:13,410
off these higher timeframe charts, they
2575
01:54:13,410 --> 01:54:15,750
could they couldn't care less about your
2576
01:54:15,840 --> 01:54:17,820
10 minute chart looks like okay, your
2577
01:54:17,820 --> 01:54:19,320
one minute chart means nothing to them.
2578
01:54:19,710 --> 01:54:22,470
We as traders can use those to zero in
2579
01:54:22,500 --> 01:54:24,510
on high odds entry points, but they're
2580
01:54:24,510 --> 01:54:26,520
not guarantees that that's what the
2581
01:54:26,520 --> 01:54:28,350
banks are using. In fact, they're not
2582
01:54:28,530 --> 01:54:33,000
Okay, so we've mapped out the position
2583
01:54:33,000 --> 01:54:35,820
traders mindset, we've mapped out the
2584
01:54:35,820 --> 01:54:37,230
swing traders mindset, we looked at
2585
01:54:37,230 --> 01:54:39,090
short term trading. Okay, so now let's
2586
01:54:39,120 --> 01:54:41,040
zoom down to the lowest level day
2587
01:54:41,040 --> 01:54:44,100
traders and or scalping. Okay, and now
2588
01:54:44,100 --> 01:54:44,940
what we're going to do is we're going to
2589
01:54:44,940 --> 01:54:46,650
use the one hour time frame that we have
2590
01:54:46,650 --> 01:54:50,940
here, and we're going to look at that
2591
01:54:50,940 --> 01:54:57,180
same scenario. Okay, and that resistance
2592
01:54:57,180 --> 01:55:01,740
level here and we have This little move
2593
01:55:01,740 --> 01:55:04,140
right here. Okay, this little move in
2594
01:55:04,140 --> 01:55:06,420
here. We're going to break that down.
2595
01:55:06,840 --> 01:55:13,950
And this happens to occur on September 7
2596
01:55:14,040 --> 01:55:17,550
of this year 2012. Okay, and we're going
2597
01:55:17,550 --> 01:55:22,950
to go down to our 15 minute chart, which
2598
01:55:22,950 --> 01:55:23,730
is our mid level.
2599
01:55:30,270 --> 01:55:34,380
Okay, in actually I call it ninth it was
2600
01:55:34,380 --> 01:55:40,830
actually the seven sorry. This is a
2601
01:55:40,830 --> 01:55:44,250
Friday. Okay. I generally do not like to
2602
01:55:44,250 --> 01:55:47,670
trade Fridays. But I'm just going to
2603
01:55:47,670 --> 01:55:49,560
give you an examples how, you know,
2604
01:55:49,830 --> 01:55:52,260
utilizing these concepts, you can see
2605
01:55:53,100 --> 01:55:55,980
trades that are intraday in line with
2606
01:55:55,980 --> 01:55:57,810
the higher time frame premise and how
2607
01:55:57,810 --> 01:56:00,720
they could materialize in Show some
2608
01:56:00,720 --> 01:56:04,440
significant price gains. I'll let you
2609
01:56:04,440 --> 01:56:05,430
look at the calendar figure out what
2610
01:56:05,430 --> 01:56:07,710
this is. do some homework guys, I'm not
2611
01:56:07,710 --> 01:56:12,240
gonna tell you everything. Again, this
2612
01:56:12,240 --> 01:56:14,520
is a Friday. So again, have that in
2613
01:56:14,520 --> 01:56:17,100
mind. But in this area here, you could
2614
01:56:17,100 --> 01:56:20,670
be hunting a setup to go long. Okay?
2615
01:56:21,660 --> 01:56:23,160
based on just simple optimal trade
2616
01:56:23,160 --> 01:56:26,520
entry, okay? But utilizing the worst
2617
01:56:26,520 --> 01:56:29,820
case scenario entry, not the best. We're
2618
01:56:29,820 --> 01:56:31,260
going to use a 62% retracement level
2619
01:56:31,260 --> 01:56:35,850
here with a 30 PIP stop, you're down
2620
01:56:35,850 --> 01:56:38,550
here. You didn't get stopped, okay, you
2621
01:56:38,550 --> 01:56:42,630
stopped would have been 159 16. So you
2622
01:56:42,630 --> 01:56:43,890
would have been preserved in this in
2623
01:56:43,890 --> 01:56:48,150
this instance. Okay. But that's using it
2624
01:56:48,330 --> 01:56:52,200
with that range. Okay. Here's our old
2625
01:56:52,200 --> 01:56:54,120
level of higher level support resistance
2626
01:56:54,120 --> 01:56:56,430
line. Okay, all I did was drill down to
2627
01:56:56,460 --> 01:57:00,900
15 minutes or this level. This high,
2628
01:57:01,950 --> 01:57:06,270
okay becomes significant. Why? Well,
2629
01:57:06,270 --> 01:57:08,280
because this is a range based off a
2630
01:57:08,340 --> 01:57:09,660
higher level key support resistance
2631
01:57:09,660 --> 01:57:11,850
levels that you can't really see that
2632
01:57:11,850 --> 01:57:13,290
Well, obviously you can enhance over
2633
01:57:13,290 --> 01:57:15,750
here. But if you're zoomed into a 15
2634
01:57:15,750 --> 01:57:17,790
minute chart, you can see how very
2635
01:57:17,790 --> 01:57:21,300
quickly, price action can be skewed. It
2636
01:57:21,300 --> 01:57:22,830
hides from you right in plain sight.
2637
01:57:23,820 --> 01:57:27,360
Here's your range. And suddenly you get
2638
01:57:27,420 --> 01:57:30,330
perfect symmetry. Okay, this is what
2639
01:57:30,330 --> 01:57:31,830
blows all the guys that are just
2640
01:57:31,860 --> 01:57:33,720
discovering me on the internet. They're
2641
01:57:33,720 --> 01:57:35,760
like, This is crazy. I mean, you're
2642
01:57:35,760 --> 01:57:38,250
pointing out so precise point. And it's
2643
01:57:38,250 --> 01:57:40,200
nothing except for using a higher time
2644
01:57:40,200 --> 01:57:42,810
frame premise, drilled down and looking
2645
01:57:42,810 --> 01:57:44,640
for higher level support resistance
2646
01:57:44,640 --> 01:57:46,740
levels, point for your fibs. Because
2647
01:57:46,740 --> 01:57:48,420
think about it. This is a high level
2648
01:57:48,450 --> 01:57:50,070
resistance level. Once it's broken, it's
2649
01:57:50,070 --> 01:57:52,290
going to act as support right. Okay,
2650
01:57:52,380 --> 01:57:54,450
well, it doesn't find support again over
2651
01:57:54,450 --> 01:57:55,980
here, but it's trying to get down to
2652
01:57:55,980 --> 01:57:58,350
that point. We want to see what if we're
2653
01:57:58,350 --> 01:58:00,210
bullish. We want to see higher lows So
2654
01:58:00,210 --> 01:58:02,430
it's advantageous for us to see the
2655
01:58:02,430 --> 01:58:04,830
higher low form. So we're stalking that.
2656
01:58:05,160 --> 01:58:06,960
And that's why these types of setups
2657
01:58:06,990 --> 01:58:09,540
unfold where it looks like Voodoo. Okay,
2658
01:58:09,810 --> 01:58:11,220
we don't want to see it come back down
2659
01:58:11,220 --> 01:58:12,540
to that level, because if it does, it's
2660
01:58:12,540 --> 01:58:14,190
probably not going to go up even higher
2661
01:58:14,190 --> 01:58:16,350
it can, but the higher odds are, if it
2662
01:58:16,350 --> 01:58:18,180
makes a higher low, that's where people
2663
01:58:18,180 --> 01:58:19,170
are going to be looking to be buying,
2664
01:58:19,380 --> 01:58:21,420
okay? You want to be buying strength and
2665
01:58:21,420 --> 01:58:22,620
selling weakness, and this is an
2666
01:58:22,650 --> 01:58:24,660
indication of strength, because
2667
01:58:24,690 --> 01:58:27,540
unwilling to go lower, when perhaps it
2668
01:58:28,080 --> 01:58:29,940
might indicate that on a one or five
2669
01:58:29,940 --> 01:58:31,320
minute chart in that little area of
2670
01:58:31,320 --> 01:58:34,110
price action. And you can see the
2671
01:58:34,110 --> 01:58:36,210
extrapolated price move here and there's
2672
01:58:36,210 --> 01:58:38,220
nothing wrong with just using the same
2673
01:58:38,220 --> 01:58:40,470
concepts we always talk about using a
2674
01:58:40,470 --> 01:58:43,200
high to the low with a higher timeframe
2675
01:58:43,200 --> 01:58:45,090
directional premise, and our swing
2676
01:58:45,090 --> 01:58:46,950
trading, here's 162 extension in here,
2677
01:58:47,370 --> 01:58:49,020
very handsome opportunity to take your
2678
01:58:49,020 --> 01:58:53,460
profits. And again, if if you've been
2679
01:58:53,460 --> 01:58:54,600
following me, obviously these are
2680
01:58:54,600 --> 01:58:56,430
nothing new. I've not created a new
2681
01:58:56,490 --> 01:58:58,320
rules or anything, but we're just
2682
01:58:58,350 --> 01:59:00,600
applying the concepts in Australia. Way
2683
01:59:01,050 --> 01:59:05,340
to hopefully facilitate a walk forward
2684
01:59:05,340 --> 01:59:07,800
for you as a trader, to start mapping
2685
01:59:07,800 --> 01:59:10,200
out the market and building confidence
2686
01:59:10,200 --> 01:59:12,300
with directional premise and not over
2687
01:59:12,300 --> 01:59:14,430
complicating it. Here's the 100 level
2688
01:59:14,430 --> 01:59:15,720
here on your fib extension. So we have a
2689
01:59:15,720 --> 01:59:17,220
whole lot of Confluence to expect some
2690
01:59:17,220 --> 01:59:21,000
kind of intraday profit taking and doing
2691
01:59:21,000 --> 01:59:24,540
that. Again, getting down here and in
2692
01:59:24,540 --> 01:59:25,950
the midpoint of that consolidation,
2693
01:59:26,400 --> 01:59:27,690
we'll just take the extension here,
2694
01:59:28,110 --> 01:59:31,140
inside of one day day trade is 88 pips
2695
01:59:31,140 --> 01:59:33,270
right there, so almost 90 pips inside of
2696
01:59:33,270 --> 01:59:35,580
one day. Okay, and that's one week for
2697
01:59:35,580 --> 01:59:37,740
me. Think about that. I'm only looking
2698
01:59:37,740 --> 01:59:42,300
for 5075 pips, on average. And now you
2699
01:59:42,300 --> 01:59:45,000
probably can't believe it. Oh, man, you
2700
01:59:45,030 --> 01:59:46,440
got to be taken more than that. Well, I
2701
01:59:46,440 --> 01:59:49,710
do take profits, and higher degree in
2702
01:59:49,710 --> 01:59:51,570
terms of pips, but that's not my
2703
01:59:51,570 --> 01:59:53,190
motivation. And that's hopefully what
2704
01:59:53,190 --> 01:59:55,320
you are gleaning from all the materials
2705
01:59:55,320 --> 01:59:56,490
that you don't necessarily have to be
2706
01:59:56,490 --> 01:59:58,650
swinging for the fences, but be
2707
01:59:58,650 --> 02:00:00,840
positioned to capture to You get it. In
2708
02:00:00,840 --> 02:00:02,820
other words, you're hitting singles to
2709
02:00:02,820 --> 02:00:04,890
fill the basis. And eventually if you
2710
02:00:04,890 --> 02:00:06,780
hit that home run, not because you
2711
02:00:07,050 --> 02:00:09,960
expected it. But when you have the bases
2712
02:00:09,960 --> 02:00:12,000
loaded with all your singles, then it
2713
02:00:12,000 --> 02:00:13,980
becomes a Grand Slam and it's Daniel
2714
02:00:13,980 --> 02:00:16,140
hook, a wizard on the forums You look
2715
02:00:16,140 --> 02:00:19,410
like a tiger woods on the golf course in
2716
02:00:19,410 --> 02:00:20,220
the Forex world.
2717
02:00:20,220 --> 02:00:23,010
So all these things are repeatable for
2718
02:00:23,010 --> 02:00:26,640
you. As a trader, you can build your
2719
02:00:26,640 --> 02:00:30,000
framework as a trader and experience
2720
02:00:30,000 --> 02:00:32,640
level by just using the same approach
2721
02:00:32,640 --> 02:00:35,760
these same concepts, make them generic
2722
02:00:36,030 --> 02:00:38,340
to you that you inherently go to them
2723
02:00:38,340 --> 02:00:39,960
over and over and over again, you're not
2724
02:00:39,960 --> 02:00:41,760
looking to add any more fluff to them.
2725
02:00:41,880 --> 02:00:43,740
You're not trying to tweak them, they're
2726
02:00:43,740 --> 02:00:46,830
very essential core principles, okay.
2727
02:00:47,220 --> 02:00:49,140
same premise have here, okay, we
2728
02:00:49,140 --> 02:00:50,880
expected this low not to be reached
2729
02:00:51,000 --> 02:00:52,560
inside this level be retested here,
2730
02:00:52,950 --> 02:00:55,170
okay. We have this high here. So market
2731
02:00:55,170 --> 02:00:57,570
structure implies that if we are in a
2732
02:00:57,570 --> 02:00:59,160
bullish scenario, like we anticipate,
2733
02:00:59,460 --> 02:01:01,470
okay, we're going to look for what the
2734
02:01:01,470 --> 02:01:03,510
low and we start retracing from this
2735
02:01:03,510 --> 02:01:05,340
high. We don't want it to come back down
2736
02:01:05,340 --> 02:01:07,620
to that level. We don't want it to.
2737
02:01:07,980 --> 02:01:10,800
Okay. Well, what will be haunting is
2738
02:01:10,800 --> 02:01:14,850
what? Here's your range from this low on
2739
02:01:14,850 --> 02:01:19,200
the Friday. Grab that save again.
2740
02:01:26,250 --> 02:01:33,240
Here's your range. Okay, here's your 60
2741
02:01:33,240 --> 02:01:35,880
to 62% retracement level. Okay, price
2742
02:01:35,880 --> 02:01:38,760
comes down. And your first entry. I'm
2743
02:01:38,760 --> 02:01:40,110
sorry, your entry to get long in here
2744
02:01:40,110 --> 02:01:44,490
this time of day is New York open. Okay.
2745
02:01:45,150 --> 02:01:46,770
And you can see a reflection in here
2746
02:01:46,770 --> 02:01:47,730
which I'm not going to draw. You didn't
2747
02:01:47,730 --> 02:01:49,350
take this low to this high you'll get
2748
02:01:49,350 --> 02:01:51,540
the actual low in here. And your first
2749
02:01:51,540 --> 02:01:55,200
profit is here. So intraday. Just
2750
02:01:55,200 --> 02:01:56,790
trading again with the higher time frame
2751
02:01:56,790 --> 02:01:58,740
premise in mind, only looking to be a
2752
02:01:58,740 --> 02:02:02,940
buyer simply because we have highest
2753
02:02:02,940 --> 02:02:05,100
odds of seeing profit here's 50 pips
2754
02:02:05,100 --> 02:02:07,260
intraday. Okay again that's a week from
2755
02:02:07,260 --> 02:02:14,910
me. Okay? We have a higher low here,
2756
02:02:15,480 --> 02:02:18,000
okay and look at the optimal trade entry
2757
02:02:18,000 --> 02:02:21,360
in here. Okay, we broke this high here
2758
02:02:23,160 --> 02:02:25,290
and here's your retracement, pull out
2759
02:02:25,290 --> 02:02:28,050
the trade entry from the low to this
2760
02:02:28,050 --> 02:02:30,450
high you'll get the actual low here
2761
02:02:30,810 --> 02:02:34,170
formed and this is the London open. What
2762
02:02:34,170 --> 02:02:37,050
day the week, Tuesday. Okay, we had the
2763
02:02:37,050 --> 02:02:38,460
week's low on Monday we have a
2764
02:02:38,460 --> 02:02:40,740
confirmation a continuation going higher
2765
02:02:40,740 --> 02:02:43,560
on Tuesday again looking for buys or it
2766
02:02:43,560 --> 02:02:45,690
or not. Now again, see this purple area,
2767
02:02:45,690 --> 02:02:48,030
there's all this backdrop is that higher
2768
02:02:48,030 --> 02:02:51,030
level mapping that we did, okay, we've
2769
02:02:51,030 --> 02:02:53,340
mapped out where the highest level
2770
02:02:53,340 --> 02:02:55,380
probability and directional premise is
2771
02:02:55,380 --> 02:02:57,780
most likely to occur and it keeps us
2772
02:02:57,780 --> 02:03:01,530
focused on one one direction. Okay, and
2773
02:03:01,560 --> 02:03:02,730
something just occurred to me while I
2774
02:03:02,730 --> 02:03:04,740
just said that I had this set with
2775
02:03:04,740 --> 02:03:07,350
purple. Okay, you may have this for your
2776
02:03:08,550 --> 02:03:10,740
setup. If you can tolerate the color,
2777
02:03:10,980 --> 02:03:13,230
maybe it could be green as a backdrop to
2778
02:03:13,560 --> 02:03:15,870
you that could be your subliminal
2779
02:03:15,870 --> 02:03:17,250
indication that hey, look, I'm looking
2780
02:03:17,250 --> 02:03:18,900
at the charts, I'm really just focusing
2781
02:03:18,900 --> 02:03:20,880
on buying because green being bullish,
2782
02:03:21,660 --> 02:03:23,160
or maybe you don't think green is
2783
02:03:23,160 --> 02:03:25,680
bullish, but, you know, maybe you can
2784
02:03:25,680 --> 02:03:26,940
attribute to whatever color you want it
2785
02:03:26,940 --> 02:03:30,270
to be. And maybe it make it a red color,
2786
02:03:30,510 --> 02:03:34,680
or a red tint of some kind, or a pink or
2787
02:03:34,680 --> 02:03:35,880
something like that, or whatever color
2788
02:03:35,880 --> 02:03:38,070
you want to attribute to as a sell
2789
02:03:38,280 --> 02:03:39,510
scenario. So that way, you're always
2790
02:03:39,510 --> 02:03:41,430
looking to chart with with a bearish
2791
02:03:41,430 --> 02:03:45,420
mentality, okay. And, again, there's no
2792
02:03:45,450 --> 02:03:47,940
there's no rocket science behind this.
2793
02:03:47,970 --> 02:03:50,250
It's very simple approach to doing it.
2794
02:03:51,030 --> 02:03:52,920
You haven't complicated the matter, we
2795
02:03:52,920 --> 02:03:54,750
stuck to just trading off of the higher
2796
02:03:54,750 --> 02:03:57,420
time frame premise. Okay. And that's
2797
02:03:57,420 --> 02:03:59,730
your directional premise. Okay, that's
2798
02:03:59,730 --> 02:04:01,950
your direct premise, you don't trade
2799
02:04:01,950 --> 02:04:04,200
every day, you don't anticipate trading
2800
02:04:04,200 --> 02:04:06,510
every day, okay? And you just wait for
2801
02:04:06,510 --> 02:04:10,650
the setups that really line up with what
2802
02:04:10,650 --> 02:04:12,990
you're looking to do as a trader. Okay?
2803
02:04:13,080 --> 02:04:14,430
And when you get to the point where you
2804
02:04:14,430 --> 02:04:16,950
can start trading very consistently,
2805
02:04:17,250 --> 02:04:20,220
you'll start seeing the market to all of
2806
02:04:20,220 --> 02:04:22,890
these timeframes at one time, okay,
2807
02:04:22,890 --> 02:04:26,340
you'll, you'll start seeing it in a
2808
02:04:26,340 --> 02:04:29,580
manner where you'll know you can move
2809
02:04:29,580 --> 02:04:33,270
from one timeframe or style trading to
2810
02:04:33,270 --> 02:04:36,600
another. And it won't be anything to you
2811
02:04:36,600 --> 02:04:38,850
to do that it won't it won't take your
2812
02:04:43,500 --> 02:04:45,750
mind away from you know what you need to
2813
02:04:45,750 --> 02:04:48,450
be doing on the short term. If you're a
2814
02:04:48,450 --> 02:04:51,120
higher timeframe, position trader, and
2815
02:04:51,120 --> 02:04:53,280
you could work within both directions of
2816
02:04:53,280 --> 02:04:55,200
the marketplace. And there's nothing
2817
02:04:55,200 --> 02:04:57,090
wrong with that, but there's a growing
2818
02:04:57,090 --> 02:04:59,400
period it's gonna be needed to get to
2819
02:04:59,400 --> 02:05:01,380
that point. And as long as you are
2820
02:05:01,380 --> 02:05:04,110
comfortable with that, and it's not
2821
02:05:04,110 --> 02:05:07,770
going to be, you know, hopefully
2822
02:05:07,980 --> 02:05:10,260
disappointing you as you grow and you
2823
02:05:10,260 --> 02:05:13,500
have Growing Pains so again, let's recap
2824
02:05:13,500 --> 02:05:17,790
this and put this video to bed. When you
2825
02:05:17,790 --> 02:05:20,400
look for directional premise, obviously
2826
02:05:20,400 --> 02:05:21,630
you're looking at the monthly, weekly
2827
02:05:21,630 --> 02:05:23,310
and daily that's your position traders
2828
02:05:23,310 --> 02:05:25,260
mindset. Okay, so every trade should
2829
02:05:25,260 --> 02:05:27,000
have that in the forefront of your mind
2830
02:05:27,000 --> 02:05:28,560
No, where's where's the highest
2831
02:05:28,680 --> 02:05:30,570
probability in terms of direction most
2832
02:05:30,570 --> 02:05:32,220
likely to occur? You're going to find
2833
02:05:32,220 --> 02:05:33,750
that by looking at that higher level
2834
02:05:33,750 --> 02:05:35,880
monthly, weekly and daily. Find the key
2835
02:05:35,880 --> 02:05:37,080
support resistance levels, determine the
2836
02:05:37,080 --> 02:05:39,240
market structure, market profiling, all
2837
02:05:39,240 --> 02:05:40,620
these things that we talked about in
2838
02:05:40,620 --> 02:05:44,100
previous market teachings are applicable
2839
02:05:44,100 --> 02:05:47,010
here. And obviously, a swing trader,
2840
02:05:47,040 --> 02:05:48,510
you're using the daily the four hour and
2841
02:05:48,510 --> 02:05:51,450
one hour. Again, looking for trades in a
2842
02:05:51,450 --> 02:05:54,120
directional premise that's arrived at
2843
02:05:54,120 --> 02:05:57,450
the position traders mentality. Okay.
2844
02:05:58,170 --> 02:05:59,760
The short term trader obviously using
2845
02:05:59,760 --> 02:06:01,320
the full Our one hour and 15 minute
2846
02:06:01,320 --> 02:06:05,190
timeframe. Okay, that same approach to
2847
02:06:05,190 --> 02:06:09,180
trading still will use those central
2848
02:06:09,180 --> 02:06:10,890
tenants that you arrive at with the
2849
02:06:10,890 --> 02:06:12,030
position trader and swing traders
2850
02:06:12,030 --> 02:06:14,730
mindset. Okay, nothing's changing.
2851
02:06:15,090 --> 02:06:16,980
There's no confusion, okay? I've seen
2852
02:06:16,980 --> 02:06:18,480
guys get frustrated say, Well, how can
2853
02:06:18,480 --> 02:06:20,730
we trade? If it's always since
2854
02:06:20,730 --> 02:06:22,260
something's always changing? what's
2855
02:06:22,260 --> 02:06:24,300
changing guys, the dates changing,
2856
02:06:24,570 --> 02:06:26,550
okay? new opportunities are presented
2857
02:06:26,550 --> 02:06:28,830
themselves, but nothing's changed in the
2858
02:06:28,830 --> 02:06:31,200
higher timeframe. Okay, you're still
2859
02:06:31,230 --> 02:06:33,090
either going to be going up, or you're
2860
02:06:33,090 --> 02:06:34,320
still going to be going down in the
2861
02:06:34,320 --> 02:06:37,110
higher timeframe, predominantly one way
2862
02:06:37,110 --> 02:06:38,490
or the other, okay? It's going to be
2863
02:06:39,000 --> 02:06:40,890
heavyweight either to the bullish side
2864
02:06:40,890 --> 02:06:42,270
or the bearish side unless you're in a
2865
02:06:42,270 --> 02:06:44,430
very, very tight, discernible
2866
02:06:44,430 --> 02:06:46,860
consolidation we've already shown. And
2867
02:06:46,860 --> 02:06:48,810
that's why I really highlighted this as
2868
02:06:48,810 --> 02:06:50,880
an example, the cable where we were in
2869
02:06:50,880 --> 02:06:52,770
this really tight consolidation down in
2870
02:06:52,770 --> 02:06:56,220
here. This is still applicable. I mean,
2871
02:06:56,220 --> 02:06:58,650
there's a lot of opportunity to be made
2872
02:06:58,680 --> 02:07:00,720
in this little consolidation. It may be
2873
02:07:00,720 --> 02:07:03,120
viewed as consolidation small in some
2874
02:07:03,120 --> 02:07:04,770
people's eyes. But there's a lot of
2875
02:07:04,770 --> 02:07:06,720
opportunity to be making money in all
2876
02:07:06,720 --> 02:07:08,730
this before we even got on this rant or
2877
02:07:08,730 --> 02:07:12,150
this rally up. This is cream, you want
2878
02:07:12,150 --> 02:07:14,760
to be able to trade inside of this and
2879
02:07:14,760 --> 02:07:16,980
still make money. Okay? And that's where
2880
02:07:16,980 --> 02:07:18,240
you simply use the inside the range
2881
02:07:18,240 --> 02:07:20,640
concepts, and it's done. You know
2882
02:07:20,640 --> 02:07:22,620
exactly what you're doing. Okay? And
2883
02:07:23,430 --> 02:07:25,560
there's no reason for you to be
2884
02:07:25,920 --> 02:07:29,220
struggling, trying to figure out what
2885
02:07:29,220 --> 02:07:30,360
the directional premise should be.
2886
02:07:30,780 --> 02:07:33,300
There's no reason for that. Okay? Just
2887
02:07:33,300 --> 02:07:34,650
look at the higher time frames, break
2888
02:07:34,650 --> 02:07:36,120
your market down from the top down,
2889
02:07:36,210 --> 02:07:40,410
okay, and stick to that. Only trade in
2890
02:07:40,410 --> 02:07:42,270
that direction. Guess what that's gonna
2891
02:07:42,270 --> 02:07:44,190
mean, you're going to probably miss some
2892
02:07:44,190 --> 02:07:46,590
trades. And guess what? There's
2893
02:07:46,590 --> 02:07:48,720
absolutely nothing wrong with that. I
2894
02:07:48,720 --> 02:07:51,060
missed a million trades. And some of
2895
02:07:51,060 --> 02:07:54,330
them were absolutely barn burners. And I
2896
02:07:54,330 --> 02:07:56,100
would have seen him coming. And many
2897
02:07:56,100 --> 02:07:58,290
times I could have probably easily done
2898
02:07:58,320 --> 02:08:00,450
the counter trend trade But I don't
2899
02:08:00,450 --> 02:08:03,090
care. Because I want to have a life I'm
2900
02:08:03,090 --> 02:08:04,320
comfortable with, with the amount of
2901
02:08:04,320 --> 02:08:09,270
money I make. And I'm very complacent
2902
02:08:09,300 --> 02:08:11,490
with the approach that I've adopted as a
2903
02:08:11,490 --> 02:08:13,860
trader, I've done all this stuff that
2904
02:08:13,860 --> 02:08:15,900
you want to be doing right now, scalping
2905
02:08:15,900 --> 02:08:18,420
15 times a day and, you know, 40 times a
2906
02:08:18,420 --> 02:08:20,520
week and 300 by the end of the month,
2907
02:08:20,970 --> 02:08:22,560
that's great. If you want to be you want
2908
02:08:22,560 --> 02:08:24,060
to be that type of trader, go right
2909
02:08:24,060 --> 02:08:27,450
ahead, and I wish you profits. But I
2910
02:08:27,450 --> 02:08:29,490
think over time, if you can sustain
2911
02:08:29,490 --> 02:08:30,870
yourself, you're going to find that it's
2912
02:08:30,870 --> 02:08:36,030
a lot more lucrative, okay to be
2913
02:08:36,210 --> 02:08:38,880
passive. In trading. You don't have to
2914
02:08:38,880 --> 02:08:40,590
be in here all the time. In fact, my
2915
02:08:40,590 --> 02:08:43,200
stress level is next to nothing, because
2916
02:08:43,200 --> 02:08:44,760
I don't spend that much time in there.
2917
02:08:45,030 --> 02:08:46,950
Okay, actually stress more about doing
2918
02:08:46,950 --> 02:08:48,390
these videos for you guys than I do
2919
02:08:48,390 --> 02:08:52,320
trading. And, you know, that's really
2920
02:08:52,320 --> 02:08:54,180
what it gets to, you know, are you doing
2921
02:08:54,180 --> 02:08:56,430
this to make money and have a better
2922
02:08:56,430 --> 02:08:58,200
life or are you doing this to compete
2923
02:08:58,620 --> 02:09:01,920
and if you're in here, too, compete. You
2924
02:09:01,920 --> 02:09:03,540
don't for the wrong reasons. Okay?
2925
02:09:03,600 --> 02:09:06,390
Number one is to make money, and you
2926
02:09:06,390 --> 02:09:08,040
want to be making money and having a
2927
02:09:08,280 --> 02:09:10,770
very nice life. And you can do that
2928
02:09:10,770 --> 02:09:12,360
while you're building your equity. Okay?
2929
02:09:12,360 --> 02:09:14,760
And when you have a whole lot more money
2930
02:09:14,760 --> 02:09:16,020
at work and you're taking these types of
2931
02:09:16,020 --> 02:09:18,660
trades, it's unbelievable how much money
2932
02:09:18,660 --> 02:09:19,920
can come into your account just on a
2933
02:09:19,920 --> 02:09:22,080
weekly basis, let alone for the year.
2934
02:09:22,290 --> 02:09:25,620
So, again, hopefully, this has been
2935
02:09:25,620 --> 02:09:27,960
insightful to you guys. And it's been
2936
02:09:30,300 --> 02:09:32,490
one more step further for you to be
2937
02:09:32,490 --> 02:09:34,740
developing a directional premise. And
2938
02:09:34,800 --> 02:09:37,320
again, we didn't apply every tool, I
2939
02:09:37,320 --> 02:09:39,000
just stuck to the core principles,
2940
02:09:39,420 --> 02:09:42,180
keeping your focus on what's essential.
2941
02:09:42,420 --> 02:09:44,010
Okay, we talked about core essentials
2942
02:09:44,010 --> 02:09:45,600
with the market structure. We talked
2943
02:09:45,600 --> 02:09:47,010
about core essentials with directional
2944
02:09:47,010 --> 02:09:48,450
premise from the higher time frame deck
2945
02:09:48,540 --> 02:09:50,760
direction, or premise from a top down
2946
02:09:50,760 --> 02:09:53,940
perspective. And that's it. That's all
2947
02:09:53,940 --> 02:09:56,400
you need. Now, when you have that
2948
02:09:56,400 --> 02:09:58,140
premise in mind, you can apply all these
2949
02:09:58,140 --> 02:10:01,350
other tools that are applicable Based on
2950
02:10:01,380 --> 02:10:04,620
the specific criteria for that given day
2951
02:10:04,650 --> 02:10:06,240
or week or month, whatever type of
2952
02:10:06,870 --> 02:10:08,340
timeframe you're looking at based on
2953
02:10:08,340 --> 02:10:10,800
your style trading. Okay, so with that,
2954
02:10:10,800 --> 02:10:12,570
guys, I wish you good luck and good
2955
02:10:12,570 --> 02:10:12,990
trading