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Version 1.1 by Drunk Monkey on 2020-12-09 05:29
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3 ICT: Okay, folks, good afternoon, just a few observations and some commentary on
4 the dollar CAD. And as you know, yesterday, we went through the previous day's
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8 run here on the high side that ran rapid run up into the 128 20 level. And I
9 want to take a look at what we see just here. Okay? You're going to see this in
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13 my tutorials. This is a consolidation. Okay, price, lease consolidation, re
14 accumulation, regulation, smart money reversal, low risk, sell, redistribution,
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18 another area of redistribution, additional area of distribution, and a sloppy
19 one here. Okay, and we're back down into the consolidation. Now, it looks as if
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23 it wants to go down below the previous day's low, which is here. Okay, and I
24 wasn't that optimistic today. Given the symmetry of the market, I talked about
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28 this today in on Twitter rather. But we are potentially in an area where we
29 could see it so often, one time, I just throw this on here just for completeness
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33 sake. Okay, so we have this level here, it could come down to Tara two's here.
34 And then a symmetrical price swing takes us right below previous day's low. So
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38 I'll give you that to watch overnight, because I'm not gonna be able to, whoops,
39 I'm not gonna be able to watch this with you every step of the way, but 126 96
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43 that's potentially not nother level of liquidity it could run for and want to
44 take a look at the market and put the lipstick on for today I want to show you
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48 what I did in dollar CAD today. So you can see the markup and where ideal and
49 optimal once of entry and targeting has manifested itself today. Okay, so here
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53 we have the dollar CAD, and you can see the at midnight, adjusted for daylight
54 savings time now. I do have my kill zones, encompassing the entire my normalized
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58 kill zone, which encompasses one o'clock in the morning, New York time to 5am
59 New York time. Okay, that's my London kill zone. And it's all referenced in New
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63 York time. Alright, so you can see, we have this price swing here, right here.
64 So a nice drop down price because some consolidation as you typically would
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68 expect, in the Asian range, we have a nice little pop up right after midnight,
69 New York time, this return up into optimal trade entry 127 74. And you can see
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73 that didn't get very much deeper than that. So the London setup, you can see
74 this high, dropping down, then coming right back up into here. And what I'll do
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78 is I'll take this one, then this is the one I used for the framework on the
79 trade. But this is another setup that I used later in the day for targeting
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83 purposes. And I'll show you what I mean in a second. Okay, so we are right on
84 that low here. And this candle is high. Okay, so we have price again trading up
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88 into optimal trade entry 60 to 70% retracement level overshot a little bit here,
89 and it's okay, when the bodies are certainly respecting that area of high
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93 probability entry. And I want to take you to the 200 extension down here. Okay,
94 and that's in addition to running below these lows, okay, so that's what this
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98 move is here. So as prices driving down, I wanted to capture that move there. So
99 around 200% and below that low. That's where I want to see the market reach for
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103 and this one here was to simply again around the low end intraday low in
104 participation that I may not get the 200 extension Okay, so there are several
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108 levels in the add this right back over to here, you can see how that contrasts
109 with the projections on the fib.
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113 On this particular swing. Okay, you can see right below the symmetrical price
114 swing that says exit here. And then we have terminal extension down here, which
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118 is very close to the previous day's blow. You can see that over here. It's been
119 delineated with that. Okay, so not a bad little decline on dollar CAD, it was
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123 rather muddy. The New York session gave a really poor showing in here, I know
124 that there's a few of you that probably wanted to capitalize on this. And you
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128 may have entered here and they'd gotten stopped out and that's okay. There's
129 nothing wrong with that. I mean, if you if you did it, you know, it's a learning
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133 experience because real quick, I'll just breeze through it you can see that the
134 eurodollar intraday today rather sloppy, no real direction in this pair. And the
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138 cable has been able to drop lower and and now he got into consolidation. So
139 that's gonna be promoting a long euro pound. And I think Yeah, your account here
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143 euro pound, it's bullish for that type of price action, European consolidated
144 and cable being able to drop in dollar index real quick, you can see that it's
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148 been in the mud. Okay, so really, really tough market, the trading today. So you
149 had to know what you're looking for. And one could argue that this high down
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153 here, this could have been optimal trade entry, maybe. But I think personally
154 just want to stop. Yeah. So no matter how you slice it, whether you did this one
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158 as itself, or here in New York, cross over to London close, that probably would
159 have burned you a little bit. And because of the market conditions, I was
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163 unwilling to hold for previous day's low. Okay, so I know some of you're gonna
164 be Oh, well, you know, this isn't a swing pattern, you told me blah, blah, blah,
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168 yo, yo, yo. Let me real quickly take you out to the daily chart. Okay, and I'll
169 give you an idea that what I was looking at, because we're in consolidation, the
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173 markets are not trending. So you have to know your, your, your levels, you have
174 to know what it is you're trading off of why you're looking to see it move as
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178 you would. So everyone understands by looking at the ICT sniper trading series,
179 the scout sniper field training guide series that did for waterblock entry. This
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183 is a bearish order block price change up into it yesterday. Okay, and you know
184 what I did with the dollar CAD in response to this maneuver here. But if we hit
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188 a bearish order block, and we're in consolidation, it probably means that we're
189 either going to continuously go sideways, or we might even try to reach it go a
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193 little bit lower. And that was really the only basis I used in addition to the
194 market maker sell profile that you can see
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198 with a consolidation, small reversal, low risk cell distribution,
199 redistribution, another area distribution in here and this could wind up pushing
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203 us down below the consolidation, which is over here, and this would be the low
204 from one day. Okay, so we have two areas of liquidity that we may still probe
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208 that means yesterday's low, and in Monday's low as well. It doesn't mean that it
209 has to go down that low. It can go right from here to trade higher, which is the
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213 reason why I was unwilling to hold for anything lower. So if you found this
214 insightful until tomorrow wish good luck and good trading