ICT YT - 2017-10-29 - ICT Pattern Recognition Drill - OTE Gold New York Session 102717.srt

Last modified by Drunk Monkey on 2021-06-11 13:21
1 00:00:10,620 --> 00:00:20,550 ICT: Okay, so you guys got the picture, I'm not going to be doing that highlight of blocking out where it is time consuming, and some of them are actually kind
2 00:00:20,550 --> 00:00:29,400 of tricky. So I got to go and do a lot of editing to cover up the actual Lucas on just take off really explosive, which is this is the hallmark of the ICT
3 00:00:29,400 --> 00:00:39,270 optimal trade entry. That's what makes it optimal, it gives you volatility, it gives you magnitude, it gives you impulsive price action, that's what you want.
4 00:00:39,570 --> 00:00:47,700 Okay, and that's how you know it's smart money behind it. So, again, the fib doesn't do anything, just highlight specific things, that unfortunately, I can't
5 00:00:47,700 --> 00:00:57,420 go into great detail here. But you can see by itself, it's a lot of insight alone. But for now, we're going to take a look at the gold market, I was going
6 00:00:57,420 --> 00:01:05,490 to do cable, and that's usually what I'm gonna be doing. On a day by day basis. Go read this through and today, and please don't ask me to continuously add
7 00:01:05,490 --> 00:01:13,560 things because I'm not going to do what I want to do. It'll just hurt me if you guys keep asking for more than I want to do. Believe me, you can do the same
8 00:01:13,560 --> 00:01:24,480 thing in your chart. Okay, just trust me, you're getting more than you need. And so on gold, we're gonna be looking at a few little things here to bring up
9 00:01:24,480 --> 00:01:35,280 something else. You know, when we're looking at this chart, it's important to pay no attention to this as well. This is a stop run in here. And this is the
10 00:01:35,280 --> 00:01:45,930 ICT bullish breaker. So this setup here, even if you didn't see the optimal trade entry long, it's still an ICT bullish breaker. Okay, so this is all higher
11 00:01:45,930 --> 00:02:01,200 level timeframe. So supported. The long short is this reaction here is a double whammy, if you will, because it has two of my higher learning principles and
12 00:02:01,200 --> 00:02:13,680 concepts, right the same time. Okay. So let's strip this and go right into the nuts and bolts of what I'm going to show you, the price points are going to be
13 00:02:13,680 --> 00:02:27,240 this high on this candle here in this low and just so you guys can see it on a conceptual standpoint, it would look like that. Okay, so as price hits this 62%
14 00:02:27,240 --> 00:02:34,830 tration level right there. That's all that would be necessary. You can go long on that. And your fill will probably be somewhere up here, whatever long a short
15 00:02:34,830 --> 00:02:50,490 is, we would know these levels in advance. Okay. And ultimately, this one up here. Okay, this is a 200 extension at 12 73.7. Okay, and the reason why we
16 00:02:50,490 --> 00:02:59,430 expect to see a nice move like that is because we've seen a breaker, they've gone down taking stops below these equal lows. A lot of retail educators like to
17 00:02:59,430 --> 00:03:09,210 see this, they call this a double bottom or triple bottom in this case. And when the market makers in the algorithm posts a rally away from that, it builds a lot
18 00:03:09,210 --> 00:03:18,450 of sentiment around this being significant support. And it's really not it's in my group, we dub that as Candyland. They come down, they take the candy from
19 00:03:18,450 --> 00:03:27,990 those babies in the market runs away. Now watch what happens. Say you've taken first profit here, scale something off, maybe you've taken something off here.
20 00:03:28,410 --> 00:03:35,460 Target one, target two and ultimately symmetrical price swing. But because it's a breaker in addition to it, you know, there's probably going to be a large
21 00:03:35,460 --> 00:03:45,300 amount to move, but does it get there? No, no, not that doesn't doesn't do it here. Okay, so now what we can do is we can take the fib off, okay, and we have
22 00:03:45,300 --> 00:04:00,600 an unrealized price objective up here of 12 73.7. We can do another fib on a nother price swing here. Okay, so we take the low to the highest body, which is
23 00:04:00,600 --> 00:04:10,590 going to be mom, we just click right there on so you guys can see which one of the one. Okay, so it's the lowest close, it could be open down as well guys,
24 00:04:10,590 --> 00:04:19,860 it's not the closest important factor, the highest body candle here in this pricing. So we're getting the measurement of the bulk of the volume. Okay, so
25 00:04:19,860 --> 00:04:27,390 important. The reason why I'm doing it now the wigs. Now when I do projections on targets, sometimes I will incorporate wicks, but you'll learn in tutorials,
26 00:04:27,390 --> 00:04:36,840 but for now I'm going to keep things germane and salient to the original rules. We're just using the bodies of the candles. So now we have the symmetrical price
27 00:04:36,840 --> 00:04:51,210 swing up here. And we'll highlight that. That takes us at 12 73.8. Okay, not much of a difference. Yeah, admittedly. But that is also an optimal trade entry
28 00:04:51,210 --> 00:04:57,480 right here at precision represent nice attrition level. And price. That's what rallies away.
29 00:04:59,190 --> 00:05:12,570 Boom. That's it. And this is a nice round number 12, silly 4.0. Okay, really, really nice price movement there. And you would use this one, because also, we
30 00:05:12,570 --> 00:05:20,730 have an unfulfilled price range here. And we also have this break in market structure right there with this slightly higher high so that gives us an alert
31 00:05:20,730 --> 00:05:29,880 for optimal trade entry again, and boom, there it is in gold. And you've seen all the other majors and people have already done that on my forum. Until next
32 00:05:29,880 --> 00:05:31,860 time, good luck and good luck.