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Mastering High Probability Scalping - Supplemental Session 01.srt

Last modified by Drunk Monkey on 2021-06-11 13:41
1 00:00:10,710 --> 00:00:24,600 ICT: Folks, give you a little bit of a amplification of the mastering high probability, scalping volumes, one, two, and three, the cable. And I'm just
2 00:00:24,600 --> 00:00:39,330 gonna remind you that the things I'm showing you here are not just hindsight lipstick actually executed on a number of these principles in these very pairs,
3 00:00:39,330 --> 00:00:55,380 and I'll show you the borders when the time is appropriate for each one, okay, so we're in the daily chart for the British Pound USD or cable, it's in a large
4 00:00:55,380 --> 00:01:07,050 trading range. Now, obviously, the daily bias concept at that time isn't going to be that favorable, but just simply looking at swing points. So you have to
5 00:01:07,050 --> 00:01:18,690 look for reversal patterns, and you find that with the hourly chart, so we dropped down into the alley. Okay, so we have an hourly chart here. And as I
6 00:01:18,690 --> 00:01:36,990 talk in volume three of my recent video series on scalping, we have an old low here on a 60 minute chart, price, should have willingness to really rally from
7 00:01:36,990 --> 00:01:46,950 there. When it came back down to it, we don't always know if a level is going to break just better the side with it. Not breaking and staying in the range,
8 00:01:46,980 --> 00:01:59,040 especially with the daily chart was suggesting in regards to British Pound USD staying in a larger trading range. So with this level here, we do not look for
9 00:01:59,040 --> 00:02:07,230 continuation lower, we are going to probably favor the side of the market, staying in the range. Okay, now, if it's staying inside the range, and this is
10 00:02:07,230 --> 00:02:17,250 going to be old support. Okay, revisited. If this is support, where should we take our focus, it's not about getting in, it's about where's the market most
11 00:02:17,250 --> 00:02:27,570 likely going to go? our attention should go immediately. Here we are. So if this is going to be support, our focus goes immediately back up to here, because this
12 00:02:27,570 --> 00:02:37,890 is what old resistance. Okay, so I'm keeping it very, very simple. But now, let's add one new dimension to it. If we see levels, like this that are very
13 00:02:37,890 --> 00:02:48,090 clean clean, by that definition is something I referred to as where a level just stays too uniform and too precise, horizontal support resistance doesn't like to
14 00:02:48,090 --> 00:02:59,490 stay intact like this. Okay, retail traders, less informed traders will see this, okay, and I'll say, well, price has shown a willingness to sell off there
15 00:02:59,490 --> 00:03:07,020 and when price gets in that area again, it starts to sell off. So what are you gonna think it's going to go lower. So what's going to be placed right above
16 00:03:07,110 --> 00:03:22,470 these highs, you got it by stops. So if we know that this is a likely turning point where price could bounce now this becomes a area where this same
17 00:03:22,470 --> 00:03:34,410 phenomenon here may take place but on the other end, lower support at a double bottom we're going to try to reach back up into the double top here's where an
18 00:03:34,410 --> 00:03:44,010 institutional mindset kicks in. If it's going to most likely not go lower, below this low it's going to go back up to here chances are it's probably going to
19 00:03:44,010 --> 00:03:54,450 reach for those individuals has already been short on the marketplace and it's going to attack their buy stops. Smart Money will buy down here and their
20 00:03:54,450 --> 00:04:05,010 objective will be to unseat those individuals to have buy stops on short positions resting in this area here. Now let's take a closer look at that
21 00:04:05,010 --> 00:04:21,690 specific price level. Okay, it comes in roughly 131 80 which will calibrate to that okay 131 80. If we trade up to the 3180 level, and it's expected to reach
22 00:04:21,690 --> 00:04:34,920 above that level, I teach that price generally will reach about 10 to 20 pips above a previous higher low now wants the numbers to the right of my mouse. Okay
23 00:04:34,950 --> 00:04:46,440 is 30 and 20. Okay, so now we have a level which we can anticipate price reaching up beyond to get these by stops. Okay, so now we can take this level
24 00:04:47,010 --> 00:05:00,360 and raise it right up to here. Okay, and we'll extend it out in time. See, price does in fact, reach up into that level rather handsomely. Now I could have
25 00:05:00,360 --> 00:05:12,150 easily just moved up 10 pips above that high. And that would have been enough as well. You can see
26 00:05:13,679 --> 00:05:29,099 what that does in terms of targeting. Okay. If you look at the level, this is suggesting it's 131 89 with 10 pips above that, I like to get out a little
27 00:05:29,099 --> 00:05:39,299 early, hence 131 at its institutional level, I know I'll get a really good exit on that. And there it was, I was not in for the last portion of the move up
28 00:05:39,299 --> 00:05:51,209 here, and it's not necessary. Okay. So I want to kind of like go back into a lower timeframe. And we'll go down to a 15 minute time frame. Next case. So here
29 00:05:51,209 --> 00:06:02,549 we have the 15 minute time frame on the British Pound USD or cable. And I'm going to address this area in here. This is the new york ICT kill zone game
30 00:06:02,549 --> 00:06:14,609 where we target the swing that usually comes in around between seven o'clock in the morning and nine o'clock in the morning, New York time. So we're going to
31 00:06:14,609 --> 00:06:22,739 assume that we are referencing the low here now you guys watch me actually trade this just for pips away from the actual low buying and long and had a target of
32 00:06:22,739 --> 00:06:33,149 131 80, which was given to you the day before this day even started trading. So I wanted to show you this past week, how it's for castable. It's predictable,
33 00:06:33,449 --> 00:06:43,889 and it repeats itself. And today, I will show you how much of a precision you can have with it. So we're looking at the cable and I want you to remember these
34 00:06:43,889 --> 00:06:55,529 levels, okay, 3190 and 3180. Okay, 3190 and 31 at 3190 is 10 pips above the highs in here for the buy stops and 3180 is essentially the institutional level
35 00:06:55,919 --> 00:07:05,699 that will be at this double top. Okay, double tops, I don't believe in I like to see them targeted, and double bottoms I don't believe in now, this is also now a
36 00:07:05,699 --> 00:07:17,819 target for a future opportunity, but not yet. Okay. So, we're gonna go down into a 15 minute timeframe, with lipstick on the chart where we can address certain
37 00:07:17,819 --> 00:07:27,149 things. Okay, here we have a 15 minute time frame and a little bit of ICT lipstick, if you will. This is how you want to attack your analysis. Okay, you
38 00:07:27,149 --> 00:07:34,589 want to have these types of things on your charts before you even consider taking trades. Well, organized trade execution starts by having a well
39 00:07:34,589 --> 00:07:45,539 documented reason for the trade to be even considered. And you have to have an exit strategy before you deploy, do not do this, you're going to be subject to
40 00:07:45,539 --> 00:07:53,339 the tug of war effect that takes place in your mind when price is going up and down. And you'll abandon a trade idea that you just willy nilly didn't too, if
41 00:07:53,399 --> 00:08:02,879 you see these types of things in your chart before you actually engage, it'll be harder for you to abandon the idea and far easier for you to stay committed to
42 00:08:02,879 --> 00:08:15,959 it. So we're going to assume that we wake up at seven o'clock in the morning, New York time to look for a move that's going to be scalped for the New York
43 00:08:15,959 --> 00:08:29,639 session. And we can see that the London low is intact. At the time of the New York, ICT kill zone, we're going to move our marker over here. So now it starts
44 00:08:29,639 --> 00:08:39,569 our hunt for the setup. That takes place generally in the seven o'clock to nine o'clock in the morning, New York time again, that window opportunity is where
45 00:08:39,569 --> 00:08:47,519 you'll see the New York session swing. Alright, so now we're going to zoom in just a little bit. Okay, so now we have our chart zoomed in. And this is the
46 00:08:47,519 --> 00:08:59,339 beginning of the new york session. So we're gonna be anticipating retracement after 7am New York time and we're going to be using a low that's going to be
47 00:08:59,399 --> 00:09:08,309 referenced in the previous session, which is one. So if we start here and go back, sorry, looking backwards, we want to see a swing low. Okay, this is not so
48 00:09:08,309 --> 00:09:17,879 good. Okay, and keep going to the left. Boom, we have a swing low right there. Okay, so now it's also inside the London kill zone, which is this red area down
49 00:09:17,879 --> 00:09:27,449 here. If we add our fib start on a 15 minute time frame and then we can calibrate down to a five and what I'll show you today is a one minute chart.
50 00:09:29,999 --> 00:09:40,169 Okay, so we're showing the lowest body open or close to the highest body open or close prior to this drop down after 7am. We're measuring that retracement. As
51 00:09:40,169 --> 00:09:53,219 you can see, it nails it perfectly to the 79% retracement level as I define the fit. Now, right away. I want you to think if we're looking to go long, the idea
52 00:09:53,219 --> 00:10:06,959 is hinged on the fact that we're targeting by starts at 31 at 3182 3190 is the draw, it could go just 10 pips or just to the old, high and 3180. So between
53 00:10:06,959 --> 00:10:13,289 these two blue lines, that's where I want your mind focusing, okay, and we're gonna start looking for consequences to overlap.
54 00:10:14,190 --> 00:10:23,070 Now we have the entry pattern here, which is the least of importance. But this is where you would time it. And you would go long here, but we'll go with drop
55 00:10:23,070 --> 00:10:33,960 down until five minute chart in a minute. But right here, we can now start to engage entry pattern. So there's our 15 minute timeframe going in New York kill
56 00:10:33,960 --> 00:10:54,270 zone. So as our bi and with our fit, overlap like this, we can see that the Fed gives us a level right in here. For a target or extension, we will look for
57 00:10:54,270 --> 00:11:04,200 prices to get to 3180 to 3190. Now we're gonna drop down until five minute time frame and help give a little bit more precision. Okay, now we can see the fibs
58 00:11:04,200 --> 00:11:12,090 is a little bit off based on the visor to candles, and that's not going to change anything, okay, but we can further refine it down into this time frame.
59 00:11:15,240 --> 00:11:30,600 We can drop it down to the lowest body open or close to the highest body or close on the swing, which is here, right there. You can see nothing's really
60 00:11:30,600 --> 00:11:41,730 changed, all it did was moved it and migrated closer to the 70.5 level. Nothing wrong with that, and just adding more precision. But at this point here. Let's
61 00:11:41,730 --> 00:11:53,340 assume you missed this opportunity. Okay. But we believe based on what I'm sharing here, after that point of time, we're expecting price to get up into
62 00:11:54,210 --> 00:12:02,280 ondu. I'm not trying to highlight this specific price point for cherry picking, I'm looking at the end of this turning point down here and to the right of it.
63 00:12:02,280 --> 00:12:13,530 So that's all I'm doing in the highlighting area of price action all the way through the New York session went just a little bit, pass it on purpose, kinda
64 00:12:13,530 --> 00:12:20,460 through the entire range of this blue line down here. Okay, that's delineating time. So we're going to anticipate an entry down here and a target that should
65 00:12:20,460 --> 00:12:36,360 be reached. For the scalp, and we'll change this to light blue. Now be good. Okay, so now let's assume we missed this opportunity to go along, based on long
66 00:12:36,360 --> 00:12:46,530 and low potentially being in place. This is our setup for this scalp. trading in the direction that the London has created in the last day in power three
67 00:12:46,680 --> 00:12:58,590 phenomenon shouldn't be the open accumulation, manipulation, making a lot of the day and then rallying up in New York is going to be a continuation of classic by
68 00:12:58,590 --> 00:13:07,680 days, as I define it in my tutorials, we can see this error here is the best time to buy but let's assume we missed it. Let's drop down into a one minute
69 00:13:07,680 --> 00:13:15,630 chart and see what we can say okay, we have our British Pound set to a one minute chart. And here's our entry pattern we would have missed on the first hit
70 00:13:15,750 --> 00:13:25,350 no problem. We wait. Okay, if you know what you're looking for, the upside Target has not been reached for the day yet. Okay, we can look for a smaller
71 00:13:25,350 --> 00:13:37,020 little fractal of the same pattern that we use for optimal trade entry. And the fib is the body's lowest open or close up to the highest body open or close.
72 00:13:37,710 --> 00:13:49,350 Beautiful 70.5 level right there. entry and bang, it's beautifully right there. So you don't need to have the x you know the actual first time it hits. Once you
73 00:13:49,350 --> 00:13:58,050 know what you're looking for. You get a market structure break here. retracement rallies up so you can use a smaller time frame to get in and get in sync. Now
74 00:13:58,050 --> 00:14:16,650 obviously, we can use the same premise here. lowest body open or close to the highest body open and close which is here. Right there. Okay. And we can see
75 00:14:16,650 --> 00:14:27,540 this symmetrical price swing nails it perfectly right there. Okay, so you can use a woman I tried to get really, really fine tandoori swing during the time
76 00:14:27,540 --> 00:14:36,450 that Killzone hits it beautifully and bang delivery of perfect symmetrical price swing, just go to the eurodollar and take a look at that as well. Alright, we're
77 00:14:36,450 --> 00:14:47,430 looking to euro dollar is a daily chart. Now this is a little similar to cable, but we've had a swing low form after trading below an old low here and we
78 00:14:47,430 --> 00:14:58,500 created a nice big update. We have a swing low price has moved above this third candles high so now we're in buy mode for directional bias and we're gonna look
79 00:14:58,500 --> 00:15:07,590 at this trading day. On Friday to see how we can see how I had done pheidon outlined the euro dollar trade for New York and we're in a 15 minute time frame
80 00:15:07,590 --> 00:15:12,810 for the euro dollar. You can see that Thursday's trading in here, we had a high previous high,
81 00:15:13,260 --> 00:15:22,740 slightly lower high here, but look what happened price moves away and drops down during the London session. With that in mind does not not create that same
82 00:15:22,740 --> 00:15:32,640 pattern we just had in the British Pound USD. Yes, we're going to be resting above these two equal highs by stops. Okay, so we're going to put our horizontal
83 00:15:32,640 --> 00:15:43,800 line here, right on it. And we have the old high here bizstats will be resting just above these highs. And if the level is essentially 116 50 if it's
84 00:15:43,800 --> 00:15:57,510 essentially 116 50 it's double topping out. They're going to want to take price above that level 10 to 20 pips. So we're going to add our range of 10 to 20
85 00:15:57,510 --> 00:16:02,940 pips, very high level. There's 10
86 00:16:08,039 --> 00:16:20,429 right there, and then 2020
87 00:16:20,429 --> 00:16:30,569 pips right there. Okay. So what that means is, we're looking for that same phenomenon down here, during the London session. Friday creates the low of the
88 00:16:30,569 --> 00:16:43,529 day, and price runs through. Now it takes out this level here, initially, but then it retraces, did it go 10 pips above the high, not yet, not here. So
89 00:16:43,529 --> 00:16:56,099 looking for this retracement after 7am New York time, we're going to add our Fibonacci lowest open or close to the highest open or close right here. So we
90 00:16:56,099 --> 00:17:11,459 have our 62% retracement level here calling for a optimal trade entry long. And you can see that is here. So here's our entry based on ICT, New York open kill
91 00:17:11,459 --> 00:17:26,879 zone, change that color just to make it pop so you guys can see it. Okay, now in here, we're going to drop down into a five minute timeframe. But we're looking
92 00:17:26,879 --> 00:17:42,599 for specifically, these levels. Now I'm going to draw them on a chart with horizontal lines. And I'm going to change this to a thinner one, because that's
93 00:17:42,599 --> 00:17:50,729 the level where the buy stops would be resting just above, okay, and the two darker blue lines, they will be targets that we've reached for I want to drop
94 00:17:50,729 --> 00:18:00,209 down into a five minute Okay, here we have eurodollar on the five minute time frame. Again, this is the area where the biceps would be just above and I'll
95 00:18:00,209 --> 00:18:15,089 take that level off. And here's where I believe 10 pips above the level, and 20 pips above the level would be around those by stops. Now I gave 1680 as an
96 00:18:15,089 --> 00:18:24,389 objective. In the event it went as high as that, because it's institutional level. But because what I just showed you in this presentation, this is the
97 00:18:24,389 --> 00:18:32,489 reason why I took the trade off. So I'm going to kind of like segue into the opportunity of looking for moves that are already underway, we can see that
98 00:18:32,489 --> 00:18:43,949 happening here are calibrating the Fed based on the lowest open or close to the highest open or close here. You can see it comes right down into 60 80%.
99 00:18:43,949 --> 00:19:01,769 Reasonable right there. Okay, so we have a new york session, buying here, buying it this level, stop, it has to be below here. Never got in jeopardy at all. But
100 00:19:01,769 --> 00:19:12,209 as price started to rally away, and we were below this point here, since we're below this point here, you can be a buyer as I was on a down close candle. So
101 00:19:12,209 --> 00:19:20,819 taking price up into the area, I was hopefully trying to get into the 16 at level, but it didn't really give me an opportunity to do so. And I missed a very
102 00:19:20,819 --> 00:19:29,759 high candle. But as you can see not bad of an accent. Okay, so hopefully this has been insightful. And you've been able to at least add a little bit more to
103 00:19:29,759 --> 00:19:38,879 your understanding about how the market moves from one point to the other. The main takeaway is, you want to know where the markets going to be drawn to. Okay,
104 00:19:38,909 --> 00:19:47,399 and the liquidity above old highs and lows when there double tops and double bottoms are the easiest things to trade. That's the reason why I teach it not
105 00:19:47,399 --> 00:19:53,609 tutorials because it's the most generic thing that takes place in the marketplace. It's never going to stop working. It's always going to be there in
106 00:19:53,609 --> 00:20:00,719 the charts every single trading week and train your eye to look for those opportunities. You'll find all the journey in terms of trading The forex or any
107 00:20:00,719 --> 00:20:04,739 other asset class out there. Until next time, I wish you good luck and good trading