ICT YT - 2017-11-08 - ICT - London OTE Demo Scalping Example - UsdCad.srt

Last modified by Drunk Monkey on 2021-06-11 13:11
1 00:00:12,300 --> 00:00:24,630 ICT: Okay, folks, good afternoon, just a few observations and some commentary on the dollar CAD. And as you know, yesterday, we went through the previous day's
2 00:00:24,750 --> 00:00:44,100 run here on the high side that ran rapid run up into the 128 20 level. And I want to take a look at what we see just here. Okay? You're going to see this in
3 00:00:44,100 --> 00:01:02,880 my tutorials. This is a consolidation. Okay, price, lease consolidation, re accumulation, regulation, smart money reversal, low risk, sell, redistribution,
4 00:01:03,630 --> 00:01:17,820 another area of redistribution, additional area of distribution, and a sloppy one here. Okay, and we're back down into the consolidation. Now, it looks as if
5 00:01:17,820 --> 00:01:31,380 it wants to go down below the previous day's low, which is here. Okay, and I wasn't that optimistic today. Given the symmetry of the market, I talked about
6 00:01:31,380 --> 00:01:43,920 this today in on Twitter rather. But we are potentially in an area where we could see it so often, one time, I just throw this on here just for completeness
7 00:01:43,920 --> 00:01:58,830 sake. Okay, so we have this level here, it could come down to Tara two's here. And then a symmetrical price swing takes us right below previous day's low. So
8 00:01:58,830 --> 00:02:13,830 I'll give you that to watch overnight, because I'm not gonna be able to, whoops, I'm not gonna be able to watch this with you every step of the way, but 126 96
9 00:02:14,550 --> 00:02:31,980 that's potentially not nother level of liquidity it could run for and want to take a look at the market and put the lipstick on for today I want to show you
10 00:02:31,980 --> 00:02:44,280 what I did in dollar CAD today. So you can see the markup and where ideal and optimal once of entry and targeting has manifested itself today. Okay, so here
11 00:02:44,280 --> 00:02:59,370 we have the dollar CAD, and you can see the at midnight, adjusted for daylight savings time now. I do have my kill zones, encompassing the entire my normalized
12 00:02:59,820 --> 00:03:09,240 kill zone, which encompasses one o'clock in the morning, New York time to 5am New York time. Okay, that's my London kill zone. And it's all referenced in New
13 00:03:09,240 --> 00:03:19,620 York time. Alright, so you can see, we have this price swing here, right here. So a nice drop down price because some consolidation as you typically would
14 00:03:19,620 --> 00:03:36,570 expect, in the Asian range, we have a nice little pop up right after midnight, New York time, this return up into optimal trade entry 127 74. And you can see
15 00:03:36,570 --> 00:03:50,070 that didn't get very much deeper than that. So the London setup, you can see this high, dropping down, then coming right back up into here. And what I'll do
16 00:03:50,070 --> 00:03:57,990 is I'll take this one, then this is the one I used for the framework on the trade. But this is another setup that I used later in the day for targeting
17 00:03:57,990 --> 00:04:13,080 purposes. And I'll show you what I mean in a second. Okay, so we are right on that low here. And this candle is high. Okay, so we have price again trading up
18 00:04:13,080 --> 00:04:24,930 into optimal trade entry 60 to 70% retracement level overshot a little bit here, and it's okay, when the bodies are certainly respecting that area of high
19 00:04:24,930 --> 00:04:39,210 probability entry. And I want to take you to the 200 extension down here. Okay, and that's in addition to running below these lows, okay, so that's what this
20 00:04:39,210 --> 00:04:50,700 move is here. So as prices driving down, I wanted to capture that move there. So around 200% and below that low. That's where I want to see the market reach for
21 00:04:51,360 --> 00:05:03,540 and this one here was to simply again around the low end intraday low in participation that I may not get the 200 extension Okay, so there are several
22 00:05:03,660 --> 00:05:11,160 levels in the add this right back over to here, you can see how that contrasts with the projections on the fib.
23 00:05:12,060 --> 00:05:22,620 On this particular swing. Okay, you can see right below the symmetrical price swing that says exit here. And then we have terminal extension down here, which
24 00:05:22,650 --> 00:05:37,800 is very close to the previous day's blow. You can see that over here. It's been delineated with that. Okay, so not a bad little decline on dollar CAD, it was
25 00:05:37,800 --> 00:05:51,720 rather muddy. The New York session gave a really poor showing in here, I know that there's a few of you that probably wanted to capitalize on this. And you
26 00:05:51,750 --> 00:06:00,510 may have entered here and they'd gotten stopped out and that's okay. There's nothing wrong with that. I mean, if you if you did it, you know, it's a learning
27 00:06:00,870 --> 00:06:13,140 experience because real quick, I'll just breeze through it you can see that the eurodollar intraday today rather sloppy, no real direction in this pair. And the
28 00:06:14,040 --> 00:06:26,160 cable has been able to drop lower and and now he got into consolidation. So that's gonna be promoting a long euro pound. And I think Yeah, your account here
29 00:06:26,190 --> 00:06:36,540 euro pound, it's bullish for that type of price action, European consolidated and cable being able to drop in dollar index real quick, you can see that it's
30 00:06:36,540 --> 00:06:47,310 been in the mud. Okay, so really, really tough market, the trading today. So you had to know what you're looking for. And one could argue that this high down
31 00:06:47,310 --> 00:06:54,840 here, this could have been optimal trade entry, maybe. But I think personally just want to stop. Yeah. So no matter how you slice it, whether you did this one
32 00:06:54,960 --> 00:07:03,930 as itself, or here in New York, cross over to London close, that probably would have burned you a little bit. And because of the market conditions, I was
33 00:07:03,960 --> 00:07:12,060 unwilling to hold for previous day's low. Okay, so I know some of you're gonna be Oh, well, you know, this isn't a swing pattern, you told me blah, blah, blah,
34 00:07:12,060 --> 00:07:26,940 yo, yo, yo. Let me real quickly take you out to the daily chart. Okay, and I'll give you an idea that what I was looking at, because we're in consolidation, the
35 00:07:26,940 --> 00:07:34,980 markets are not trending. So you have to know your, your, your levels, you have to know what it is you're trading off of why you're looking to see it move as
36 00:07:34,980 --> 00:07:50,940 you would. So everyone understands by looking at the ICT sniper trading series, the scout sniper field training guide series that did for waterblock entry. This
37 00:07:50,940 --> 00:08:02,310 is a bearish order block price change up into it yesterday. Okay, and you know what I did with the dollar CAD in response to this maneuver here. But if we hit
38 00:08:02,310 --> 00:08:11,190 a bearish order block, and we're in consolidation, it probably means that we're either going to continuously go sideways, or we might even try to reach it go a
39 00:08:11,190 --> 00:08:21,270 little bit lower. And that was really the only basis I used in addition to the market maker sell profile that you can see
40 00:08:28,380 --> 00:08:38,550 with a consolidation, small reversal, low risk cell distribution, redistribution, another area distribution in here and this could wind up pushing
41 00:08:38,550 --> 00:08:48,510 us down below the consolidation, which is over here, and this would be the low from one day. Okay, so we have two areas of liquidity that we may still probe
42 00:08:48,780 --> 00:08:57,480 that means yesterday's low, and in Monday's low as well. It doesn't mean that it has to go down that low. It can go right from here to trade higher, which is the
43 00:08:57,480 --> 00:09:05,010 reason why I was unwilling to hold for anything lower. So if you found this insightful until tomorrow wish good luck and good trading