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Last modified by Drunk Monkey on 2021-06-11 13:23
From version 1.1
edited by Drunk Monkey
on 2020-12-09 05:25
Change comment: There is no comment for this version
To version 2.1
edited by Drunk Monkey
on 2021-06-11 13:23
Change comment: There is no comment for this version

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1 -1
2 -00:00:07,680 ~-~-> 00:00:19,290
3 -ICT: All right, there's gonna be FOMC, you're gonna see a mitigation on a loss.
4 -So there's a GDP and going wrong as a re entry on optimal trade entry. And I'll
1 +(% class="hover min" %)
2 +|1 |00:00:07,680 ~-~-> 00:00:19,290 |ICT: All right, there's gonna be FOMC, you're gonna see a mitigation on a loss. So there's a GDP and going wrong as a re entry on optimal trade entry. And I'll
3 +|2 |00:00:19,290 ~-~-> 00:00:31,560 |explain what that is, after the video is done. This portion is recorded price action. So I'm anticipating it run on yesterday's high noted with previous day's
4 +|3 |00:00:31,560 ~-~-> 00:00:42,960 |high at the top. And you can see that today's intraday high is a slightly lower than yesterday's high. And I always look at that as equal highs, and retail
5 +|4 |00:00:42,960 ~-~-> 00:00:52,650 |traders, or less informed traders will will view that as a double top. And usually there's going to be by stops resting just above that. And I gave you
6 +|5 |00:00:52,650 ~-~-> 00:01:05,430 |yesterday Also, my next upside objective for GBP USD or cable. And I'm certain if I was to do a poll and asked everyone, if they forgot about that, they'd
7 +|6 |00:01:05,430 ~-~-> 00:01:15,930 |probably say, Yes, I've taught you in a very short time that we've been together, there is a side of the marketplace that the market makers gonna work
8 +|7 |00:01:16,380 ~-~-> 00:01:24,330 |predominantly. And we're working on the long sides, that means previous day's highs are going to be targeted. So it's going to be around those liquidity runs.
9 +|8 |00:01:25,830 ~-~-> 00:01:38,370 |And we have a price bouncing away from the high of two days ago, which is that light blue line that's indicated where it says previous day's high two days ago.
10 +|9 |00:01:39,420 ~-~-> 00:01:52,290 |And I'm going to be looking for price to start climbing above the most recent short term high and prices now starting to expand, I just moved my stop loss to
11 +|10 |00:01:52,290 ~-~-> 00:02:03,570 |a point of no loss. It's above my entry point. So now I have an opportunity to sit in this trade. And hopefully manage it to the point where it takes out
12 +|11 |00:02:03,930 ~-~-> 00:02:14,040 |previous day's high and allows me an exit point there. So what I'm trying to do is I'm entering during the time when the market looks like it's breaking down.
13 +|12 |00:02:15,120 ~-~-> 00:02:23,730 |Okay, when the market was dropping today, look at all the dark candles, the black candles, they're all down close candles. So that's showing the willingness
14 +|13 |00:02:23,730 ~-~-> 00:02:37,290 |for the market to want to go lower, and doing it quickly. Okay, so it's doing that, under the guise of reaching for sell stops trapping traders on the
15 +|14 |00:02:37,290 ~-~-> 00:02:49,770 |downside, okay, or engineering, the mindset or sentiment of retail traders or less informed traders and say it that way. And you can see we're fastly
16 +|15 |00:02:49,770 ~-~-> 00:03:01,950 |approaching the FOMC. Okay, we're about four minutes away, you see how fast this recording has been sped up. So I'm gonna be looking for the opportunity had this
17 +|16 |00:03:02,190 ~-~-> 00:03:10,800 |market move, push me up through previous day's high, and hopefully up into my limit order. And now it does that influence through the equal highs you can see
18 +|17 |00:03:10,800 ~-~-> 00:03:18,960 |how price does it want to spike, it does it real quick and snappy punch right through previous day's high. And now it's pulled back. Now truth be told, I was
19 +|18 |00:03:18,960 ~-~-> 00:03:28,380 |trying to get out above those equal highs, take something off there and then let my limit order trip. But I wasn't fast enough to do that cause back and forth
20 +|19 |00:03:28,380 ~-~-> 00:03:39,750 |between several screens. And long the short of it is I just didn't get it to get off there. So now I'm scaling the stop loss tighter. And I'm watching that spike
21 +|20 |00:03:40,320 ~-~-> 00:03:55,020 |that we created FOMC I know they're going to probably go want to run above that. Okay, and a portions already been removed on this trade. So and you'll see that
22 +|21 |00:03:55,080 ~-~-> 00:04:09,600 |in your trade ledger, where I add all the entry points and exit points at the end of this recording of price action. So now we're above previous day's high.
23 +|22 |00:04:10,710 ~-~-> 00:04:20,130 |And now we have this squared off price action where we have a high, bumping up against the high and price never leaves that intact. It always wants to run
24 +|23 |00:04:20,130 ~-~-> 00:04:31,830 |through that put traders on the wrong side or knock those individuals out that want to be short. Remember that long wick doji that was created FOMC Steve
25 +|24 |00:04:31,830 ~-~-> 00:04:40,230 |Nielsen followers like to see that think that's a bearish pattern. So they'll sell short after trading pattern one candle. And that's not something I would
26 +|25 |00:04:40,230 ~-~-> 00:04:51,000 |advise you to do. I actually capitalize a lot on my analysis when I see things like that. Understanding what the weaker minded traders are thinking many times
27 +|26 |00:04:51,120 ~-~-> 00:05:02,940 |is a an advantageous thing when we're doing analysis. And one of the wonderful things about being a trader with 24 plus years experience, I had a lot of time
28 +|27 |00:05:03,210 ~-~-> 00:05:09,120 |being a novice. So I knew what I was thinking then. And that's how I interpret price a lot now.
29 +|28 |00:05:09,869 ~-~-> 00:05:19,559 |Okay, so I'm going to be taking something off here again, and now move my limit. To get out, notice what I did I reduce the risk with my stop, never opening it
30 +|29 |00:05:19,559 ~-~-> 00:05:28,799 |up with more. But I opened up my profit potential, when I got very close to where I wanted to get out, but it's so late in the day, I just don't want to be
31 +|30 |00:05:28,829 ~-~-> 00:05:36,869 |messing around with it. So now I'm going to show you my entry points. Here's my loss earlier in the day. And I'll actually take you into the charts after this
32 +|31 |00:05:36,869 ~-~-> 00:05:48,869 |portion is done. I'll show you what I was looking at and why it was wrong. And there it is, there's the loss, you can see that here, enter to your optimal
33 +|32 |00:05:48,869 ~-~-> 00:06:04,649 |trade entry and stop me out. And then you can see the re entry and optimal trade entry. So I'm using the same entry pattern. Got a better fill than I did on the
34 +|33 |00:06:04,649 ~-~-> 00:06:14,819 |initial entry. And here's my exit points. So let me take you to the charts. Okay, folks, I'll take you in here a little closer and show you what I was doing
35 +|34 |00:06:14,819 ~-~-> 00:06:32,909 |today. Originally, my initial entry, I was using this price swing here, okay. Right in here, and I wanted to get long as price drop down into optimal trade
36 +|35 |00:06:32,909 ~-~-> 00:06:46,979 |entry. I wanted to get long that way. So that was my entry point. And my stop loss was a little, you know, a little tight in the sense that better setups, it
37 +|36 |00:06:46,979 ~-~-> 00:06:56,369 |would have never been hit. Okay, but because I felt that we hit this high of two days ago, we hit it one time, two times three times. I didn't think we'd see it
38 +|37 |00:06:56,369 ~-~-> 00:07:08,429 |again. But they ran it one more time. And it stopped me. So it is what it is. You can see the stop is right here. So after the run through, that's okay. I'm
39 +|38 |00:07:08,429 ~-~-> 00:07:17,939 |going back in now look what's happened. I got the same price structure here in mind. And I'm entering rate at auto trade entry again, between the 62 and 72
40 +|39 |00:07:17,969 ~-~-> 00:07:25,529 |tracing level. Now you're probably thinking, Wait a minute, Michael, this is a break in that pattern, isn't it? Yes. But it has not changed my analysis. I've
41 +|40 |00:07:25,529 ~-~-> 00:07:37,289 |still believe that we're going above previous day's high. So I entered there. And price gave me an opportunity to exit here for an FOMC announcement. And I
42 +|41 |00:07:37,289 ~-~-> 00:07:43,049 |exited up here. And I have another one in here. I don't know. I did.
43 +|42 |00:07:46,980 ~-~-> 00:07:47,790 |You think it did.
44 +|43 |00:07:51,390 ~-~-> 00:08:03,390 |And I think it's overlapping. It's so close to one another. That's what it is. But again, as I did yesterday, with the folks, I actually very close to the
45 +|44 |00:08:03,390 ~-~-> 00:08:13,740 |high. Okay. And I exited very close to the high again, you can see that really nice price action, pulling away from that. So I made the right decision. In my
46 +|45 |00:08:13,740 ~-~-> 00:08:22,650 |opinion, I think I made the right decision by collapsing the entire portion of the trade. So my loss down here that I took in this trade was completely
47 +|46 |00:08:22,650 ~-~-> 00:08:35,010 |mitigated almost with the first scaling out, and certainly with the last two portions, so it allowed me to go to a new equity high. So that's that. I gave
48 +|47 |00:08:35,010 ~-~-> 00:08:46,710 |you also a opportunity to know in advance where the banks are going to take the cable today. The upside objective was going to be okay, in case you haven't
49 +|48 |00:08:47,070 ~-~-> 00:09:00,510 |checked it out yet. This is my Twitter account. So you guys are absolutely Welcome to follow me on twitter at I underscore m underscore ICT. Okay. And I'll
50 +|49 |00:09:00,510 ~-~-> 00:09:20,220 |show you what I tweeted yesterday, about 20 hours ago. Right here and click on that. You can see this was the next objective for the table. So 132 42 as well
51 +|50 |00:09:20,220 ~-~-> 00:09:29,340 |as looking for. So with that in mind, I always want to exit before my target stuff. I'm calling this as an objective. I want to be exiting before that. Okay,
52 +|51 |00:09:29,400 ~-~-> 00:09:40,680 |it's much high probability, much higher probability I should say that way to exit before a known target in your trading plan, then is to just be greedy and
53 +|52 |00:09:40,680 ~-~-> 00:09:46,920 |know that this is the best case scenario and this is perfection into demand perfection, that's always going to be problematic at least it's been problematic
54 +|53 |00:09:46,920 ~-~-> 00:10:06,690 |for me as a trader for over two decades. So I try not to be demanding and then when you see the high on today comes in at 132 37 And my exit point, were 130 to
55 +|54 |00:10:07,170 ~-~-> 00:10:18,480 |35 was the high end 132 34. And you can see prices done a really nice movement away from that after they've unloaded like I had done today. There's been some
56 +|55 |00:10:18,480 ~-~-> 00:10:30,030 |selling, okay, and you can see that's evident here. So again during the New York kill zone entry, and an accident, as the banks would do, hopefully you found
57 +|56 |00:10:30,030 ~-~-> 00:10:32,610 |this insightful until next time, wish good luck and good
5 5  
6 -2
7 -00:00:19,290 ~-~-> 00:00:31,560
8 -explain what that is, after the video is done. This portion is recorded price
9 -action. So I'm anticipating it run on yesterday's high noted with previous day's
10 -
11 -3
12 -00:00:31,560 ~-~-> 00:00:42,960
13 -high at the top. And you can see that today's intraday high is a slightly lower
14 -than yesterday's high. And I always look at that as equal highs, and retail
15 -
16 -4
17 -00:00:42,960 ~-~-> 00:00:52,650
18 -traders, or less informed traders will will view that as a double top. And
19 -usually there's going to be by stops resting just above that. And I gave you
20 -
21 -5
22 -00:00:52,650 ~-~-> 00:01:05,430
23 -yesterday Also, my next upside objective for GBP USD or cable. And I'm certain
24 -if I was to do a poll and asked everyone, if they forgot about that, they'd
25 -
26 -6
27 -00:01:05,430 ~-~-> 00:01:15,930
28 -probably say, Yes, I've taught you in a very short time that we've been
29 -together, there is a side of the marketplace that the market makers gonna work
30 -
31 -7
32 -00:01:16,380 ~-~-> 00:01:24,330
33 -predominantly. And we're working on the long sides, that means previous day's
34 -highs are going to be targeted. So it's going to be around those liquidity runs.
35 -
36 -8
37 -00:01:25,830 ~-~-> 00:01:38,370
38 -And we have a price bouncing away from the high of two days ago, which is that
39 -light blue line that's indicated where it says previous day's high two days ago.
40 -
41 -9
42 -00:01:39,420 ~-~-> 00:01:52,290
43 -And I'm going to be looking for price to start climbing above the most recent
44 -short term high and prices now starting to expand, I just moved my stop loss to
45 -
46 -10
47 -00:01:52,290 ~-~-> 00:02:03,570
48 -a point of no loss. It's above my entry point. So now I have an opportunity to
49 -sit in this trade. And hopefully manage it to the point where it takes out
50 -
51 -11
52 -00:02:03,930 ~-~-> 00:02:14,040
53 -previous day's high and allows me an exit point there. So what I'm trying to do
54 -is I'm entering during the time when the market looks like it's breaking down.
55 -
56 -12
57 -00:02:15,120 ~-~-> 00:02:23,730
58 -Okay, when the market was dropping today, look at all the dark candles, the
59 -black candles, they're all down close candles. So that's showing the willingness
60 -
61 -13
62 -00:02:23,730 ~-~-> 00:02:37,290
63 -for the market to want to go lower, and doing it quickly. Okay, so it's doing
64 -that, under the guise of reaching for sell stops trapping traders on the
65 -
66 -14
67 -00:02:37,290 ~-~-> 00:02:49,770
68 -downside, okay, or engineering, the mindset or sentiment of retail traders or
69 -less informed traders and say it that way. And you can see we're fastly
70 -
71 -15
72 -00:02:49,770 ~-~-> 00:03:01,950
73 -approaching the FOMC. Okay, we're about four minutes away, you see how fast this
74 -recording has been sped up. So I'm gonna be looking for the opportunity had this
75 -
76 -16
77 -00:03:02,190 ~-~-> 00:03:10,800
78 -market move, push me up through previous day's high, and hopefully up into my
79 -limit order. And now it does that influence through the equal highs you can see
80 -
81 -17
82 -00:03:10,800 ~-~-> 00:03:18,960
83 -how price does it want to spike, it does it real quick and snappy punch right
84 -through previous day's high. And now it's pulled back. Now truth be told, I was
85 -
86 -18
87 -00:03:18,960 ~-~-> 00:03:28,380
88 -trying to get out above those equal highs, take something off there and then let
89 -my limit order trip. But I wasn't fast enough to do that cause back and forth
90 -
91 -19
92 -00:03:28,380 ~-~-> 00:03:39,750
93 -between several screens. And long the short of it is I just didn't get it to get
94 -off there. So now I'm scaling the stop loss tighter. And I'm watching that spike
95 -
96 -20
97 -00:03:40,320 ~-~-> 00:03:55,020
98 -that we created FOMC I know they're going to probably go want to run above that.
99 -Okay, and a portions already been removed on this trade. So and you'll see that
100 -
101 -21
102 -00:03:55,080 ~-~-> 00:04:09,600
103 -in your trade ledger, where I add all the entry points and exit points at the
104 -end of this recording of price action. So now we're above previous day's high.
105 -
106 -22
107 -00:04:10,710 ~-~-> 00:04:20,130
108 -And now we have this squared off price action where we have a high, bumping up
109 -against the high and price never leaves that intact. It always wants to run
110 -
111 -23
112 -00:04:20,130 ~-~-> 00:04:31,830
113 -through that put traders on the wrong side or knock those individuals out that
114 -want to be short. Remember that long wick doji that was created FOMC Steve
115 -
116 -24
117 -00:04:31,830 ~-~-> 00:04:40,230
118 -Nielsen followers like to see that think that's a bearish pattern. So they'll
119 -sell short after trading pattern one candle. And that's not something I would
120 -
121 -25
122 -00:04:40,230 ~-~-> 00:04:51,000
123 -advise you to do. I actually capitalize a lot on my analysis when I see things
124 -like that. Understanding what the weaker minded traders are thinking many times
125 -
126 -26
127 -00:04:51,120 ~-~-> 00:05:02,940
128 -is a an advantageous thing when we're doing analysis. And one of the wonderful
129 -things about being a trader with 24 plus years experience, I had a lot of time
130 -
131 -27
132 -00:05:03,210 ~-~-> 00:05:09,120
133 -being a novice. So I knew what I was thinking then. And that's how I interpret
134 -price a lot now.
135 -
136 -28
137 -00:05:09,869 ~-~-> 00:05:19,559
138 -Okay, so I'm going to be taking something off here again, and now move my limit.
139 -To get out, notice what I did I reduce the risk with my stop, never opening it
140 -
141 -29
142 -00:05:19,559 ~-~-> 00:05:28,799
143 -up with more. But I opened up my profit potential, when I got very close to
144 -where I wanted to get out, but it's so late in the day, I just don't want to be
145 -
146 -30
147 -00:05:28,829 ~-~-> 00:05:36,869
148 -messing around with it. So now I'm going to show you my entry points. Here's my
149 -loss earlier in the day. And I'll actually take you into the charts after this
150 -
151 -31
152 -00:05:36,869 ~-~-> 00:05:48,869
153 -portion is done. I'll show you what I was looking at and why it was wrong. And
154 -there it is, there's the loss, you can see that here, enter to your optimal
155 -
156 -32
157 -00:05:48,869 ~-~-> 00:06:04,649
158 -trade entry and stop me out. And then you can see the re entry and optimal trade
159 -entry. So I'm using the same entry pattern. Got a better fill than I did on the
160 -
161 -33
162 -00:06:04,649 ~-~-> 00:06:14,819
163 -initial entry. And here's my exit points. So let me take you to the charts.
164 -Okay, folks, I'll take you in here a little closer and show you what I was doing
165 -
166 -34
167 -00:06:14,819 ~-~-> 00:06:32,909
168 -today. Originally, my initial entry, I was using this price swing here, okay.
169 -Right in here, and I wanted to get long as price drop down into optimal trade
170 -
171 -35
172 -00:06:32,909 ~-~-> 00:06:46,979
173 -entry. I wanted to get long that way. So that was my entry point. And my stop
174 -loss was a little, you know, a little tight in the sense that better setups, it
175 -
176 -36
177 -00:06:46,979 ~-~-> 00:06:56,369
178 -would have never been hit. Okay, but because I felt that we hit this high of two
179 -days ago, we hit it one time, two times three times. I didn't think we'd see it
180 -
181 -37
182 -00:06:56,369 ~-~-> 00:07:08,429
183 -again. But they ran it one more time. And it stopped me. So it is what it is.
184 -You can see the stop is right here. So after the run through, that's okay. I'm
185 -
186 -38
187 -00:07:08,429 ~-~-> 00:07:17,939
188 -going back in now look what's happened. I got the same price structure here in
189 -mind. And I'm entering rate at auto trade entry again, between the 62 and 72
190 -
191 -39
192 -00:07:17,969 ~-~-> 00:07:25,529
193 -tracing level. Now you're probably thinking, Wait a minute, Michael, this is a
194 -break in that pattern, isn't it? Yes. But it has not changed my analysis. I've
195 -
196 -40
197 -00:07:25,529 ~-~-> 00:07:37,289
198 -still believe that we're going above previous day's high. So I entered there.
199 -And price gave me an opportunity to exit here for an FOMC announcement. And I
200 -
201 -41
202 -00:07:37,289 ~-~-> 00:07:43,049
203 -exited up here. And I have another one in here. I don't know. I did.
204 -
205 -42
206 -00:07:46,980 ~-~-> 00:07:47,790
207 -You think it did.
208 -
209 -43
210 -00:07:51,390 ~-~-> 00:08:03,390
211 -And I think it's overlapping. It's so close to one another. That's what it is.
212 -But again, as I did yesterday, with the folks, I actually very close to the
213 -
214 -44
215 -00:08:03,390 ~-~-> 00:08:13,740
216 -high. Okay. And I exited very close to the high again, you can see that really
217 -nice price action, pulling away from that. So I made the right decision. In my
218 -
219 -45
220 -00:08:13,740 ~-~-> 00:08:22,650
221 -opinion, I think I made the right decision by collapsing the entire portion of
222 -the trade. So my loss down here that I took in this trade was completely
223 -
224 -46
225 -00:08:22,650 ~-~-> 00:08:35,010
226 -mitigated almost with the first scaling out, and certainly with the last two
227 -portions, so it allowed me to go to a new equity high. So that's that. I gave
228 -
229 -47
230 -00:08:35,010 ~-~-> 00:08:46,710
231 -you also a opportunity to know in advance where the banks are going to take the
232 -cable today. The upside objective was going to be okay, in case you haven't
233 -
234 -48
235 -00:08:47,070 ~-~-> 00:09:00,510
236 -checked it out yet. This is my Twitter account. So you guys are absolutely
237 -Welcome to follow me on twitter at I underscore m underscore ICT. Okay. And I'll
238 -
239 -49
240 -00:09:00,510 ~-~-> 00:09:20,220
241 -show you what I tweeted yesterday, about 20 hours ago. Right here and click on
242 -that. You can see this was the next objective for the table. So 132 42 as well
243 -
244 -50
245 -00:09:20,220 ~-~-> 00:09:29,340
246 -as looking for. So with that in mind, I always want to exit before my target
247 -stuff. I'm calling this as an objective. I want to be exiting before that. Okay,
248 -
249 -51
250 -00:09:29,400 ~-~-> 00:09:40,680
251 -it's much high probability, much higher probability I should say that way to
252 -exit before a known target in your trading plan, then is to just be greedy and
253 -
254 -52
255 -00:09:40,680 ~-~-> 00:09:46,920
256 -know that this is the best case scenario and this is perfection into demand
257 -perfection, that's always going to be problematic at least it's been problematic
258 -
259 -53
260 -00:09:46,920 ~-~-> 00:10:06,690
261 -for me as a trader for over two decades. So I try not to be demanding and then
262 -when you see the high on today comes in at 132 37 And my exit point, were 130 to
263 -
264 -54
265 -00:10:07,170 ~-~-> 00:10:18,480
266 -35 was the high end 132 34. And you can see prices done a really nice movement
267 -away from that after they've unloaded like I had done today. There's been some
268 -
269 -55
270 -00:10:18,480 ~-~-> 00:10:30,030
271 -selling, okay, and you can see that's evident here. So again during the New York
272 -kill zone entry, and an accident, as the banks would do, hopefully you found
273 -
274 -56
275 -00:10:30,030 ~-~-> 00:10:32,610
276 -this insightful until next time, wish good luck and good