ICT YT - 2017-10-29 - ICT Pattern Recognition Drill - OTE Fiber EurUsd New York Session.srt

Last modified by Drunk Monkey on 2021-06-11 13:21
1 00:00:16,170 --> 00:00:40,440 ICT: What do you say? This is what optimal trade entry looks like at the time of inception. Okay, so now you can see this high right here. I use this bodies open
2 00:00:40,800 --> 00:00:46,800 inside the swing. Why am I using that one because the highest one inside the eye.
3 00:00:52,409 --> 00:01:05,399 And we're using the lowest body candle here. So this is our range. Okay, price rallies up, everyone else is going to be afraid of this, but you can't be afraid
4 00:01:05,399 --> 00:01:15,239 of it, you have to step right in there and take it. Now, this is going to be primarily for optimal trade entry. But for some of my other students, you'll see
5 00:01:15,239 --> 00:01:28,709 that this is also another entry for several other patterns and the overlap. And just for clarity sake, just to get you guys all worked up until a froth right,
6 00:01:28,709 --> 00:01:44,909 so we have a bearish order block. Right there. Careful not to make it form fit, the open is 116 21, the candles high comes in is exactly at 116 21. Precision,
7 00:01:45,209 --> 00:01:56,189 as promised, not to mention this down close candle right before this run up taking out this short term high. This is an ICT breaker, that also when price
8 00:01:56,189 --> 00:02:08,489 returns back to that is also a sell or an upside target. And that also comes in the form of 116 21. Exactly the same high here. Okay, there's a lot of precision
9 00:02:08,489 --> 00:02:15,179 in the stuff that I teach. But that's not the scope of this teaching, I just want to throw that out there because a lot of my patterns overlap. And when
10 00:02:15,179 --> 00:02:23,819 there's confluences, like that makes it very strong. So let's take a look at what the pattern looks like. So that way we can memorize it, what it looks like,
11 00:02:24,059 --> 00:02:41,309 and see it in its truest form. Okay, and there is the New York kill zone, ICD kills him. And here's the price swing measured down as indicated. And this is
12 00:02:41,309 --> 00:02:52,109 where your entry would be inside the optimal trade entry. And your risk would be up to this point here. Okay. Now on this example, and literally limiting it to
13 00:02:52,439 --> 00:03:02,999 this level, because I'm disregarding this wick, I want to look at this as a more of a true or high than this wick in here. Now, you could elect to use that for
14 00:03:02,999 --> 00:03:12,719 your stop loss there. But for this example, for clarity, I like to use that, whereas otherwise it would be actual high of the swing high. But that's your
15 00:03:12,809 --> 00:03:28,109 your risk. Okay. And the objective for scaling, profit is always going to be where you project your fit to, and we have the lowest body price down here. From
16 00:03:28,109 --> 00:03:40,829 the sell off. Price trades down to it since since a lot of opportunity really to take profits at that level. And notice it does not go any lower. This is the
17 00:03:40,829 --> 00:03:52,799 reason why scaling out makes greater sense than those individuals that will say that's stupid or shouldn't be done. So shorting here, taking first profit here,
18 00:03:53,579 --> 00:04:03,509 moving your stop to a logical breakeven or locking in something. Eventually, the market does trade back up to equilibrium, which we're not going to teach here as
19 00:04:03,509 --> 00:04:16,859 well. But it's a nice example of how taking partials at a logical level using optimal trade entry makes perfect sense. Till next time, wish good luck and good
20 00:04:16,859 --> 00:04:17,249 trading.