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Version 1.1 by Drunk Monkey on 2020-11-20 16:44
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3 ICT: Okay folks, welcome back. This is volume two of three,
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6 00:00:15,180 ~-~-> 00:00:19,350
7 four mastering high probability scalping, focusing on
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11 previous day bank liquidity runs.
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15 Alright, so what we are reviewing the daily bias so that we
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19 everyone knows exactly what should be done. And I'm
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23 referring to a daily chart here. So when we're implementing
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27 the daily bias, what we're gonna be doing is on a daily
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31 chart, we're gonna be waiting for a swing high to form and
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35 to be broken this will be bullish, okay when we see a swing
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39 high broken downwards, a candle that has a lower high to the
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43 left of it, and the lower high to the right of it as seen
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47 here. Okay, if at anytime in the future, it's traded through
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51 when we have that we have a bullish stage. In other words,
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55 we anticipate a future Buying Opportunity doesn't mean the
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59 buy right there just means we are now on on alert to wait
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63 for a specific criteria criteria is going to be looking for
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67 a swing load form down here okay a swing low can is a candle
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71 that has a higher load to the left of it a higher load to
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75 the right of it again on a daily chart. key point here is
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79 this swing low should not take out a previous recent swing
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83 low okay. So if we have this criteria immediately after a
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87 swing high is broken. We have the probable optimal trade
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91 entry scenario By itself on a daily chart, okay, doesn't
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95 mean it has to line up with a 62 to seven times tracing
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99 level, this means that we are in effect, trading with a
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103 higher low after breaking a short term high so we have a
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107 break in market structure retracements. Therefore, the
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111 market should have an ability to find momentum on the
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115 upside, okay. When the swing low forms, we're going to be
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119 anticipating the third candle. That is this one here. It's
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123 high to be rated or traded through the very next day. So
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127 towards the next trading day where it opens, preferably, you
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131 want to see it open below the third candle the swing lows
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135 high. Okay, so your criterion, you want to see the swing low
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139 form without breaking a previous swing low immediately after
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143 a swing. is formed but breaking a previous swing high. Okay,
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147 so again the stage for a bullish scenario is anytime a swing
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151 high is broken and traded to a new high expected retracement
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155 wait for a daily swing low to form swing low should be a
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159 higher swing load in any recent previous short term swing
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163 low the third candle that makes the swing low that high you
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167 want to see the next candle open below that candles high and
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171 then anticipate the market to run through this candles Hi.
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175 We're gonna be looking for previous day's highs to be rated
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179 each day until a swing high on a daily forms or price
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183 reaches a key support resistance level. And I'll give an
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187 example what that would be the immediate candle after this
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191 particular days Maybe looking for a bullish scenario. Okay
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195 either in the London or the New York scenario to anticipate
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199 a raid on the previous day's high. The very next trading
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203 day, we would look for the same scenario again, looking for
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207 reasons to be bullish on a retracement lower, going higher
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211 reaching for ultimately to this old high, this would be a
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215 area of resistance, okay or if it trades to that high and
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219 through it we'd still maintain looking for bullish scenarios
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223 buying looking for previous day's highs to be taken out. Or
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227 if we have price rally up to a degree either at this level
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231 or before it and creating a swing high. Once that forms. We
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235 have to wait for that swing high to be broke on the upside.
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239 Okay. There's going to be a lot of missed opportunities
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243 admittedly with this but it gives you a specific criteria on
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247 the work within
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251 Okay, employing the daily bias This is why it's bearish and
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255 we waiting again on the daily chart for a swing low on a
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259 daily to be broken. So we have a swing low here, okay again,
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263 a daily candle that has a higher low to the left of it and a
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267 higher low to the right of it eventually as price trades
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271 through this, this break in market structure sets the stage
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275 for a bearish market condition. Okay, so we're kind of like
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279 alerted to waiting for a sell scenario. We wait for a
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283 retracement when we get the daily swing high formed. The
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287 third candle Okay, that makes a swing high. We're going to
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291 be anticipating that low to be violated the very next
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295 trading day. key point is we don't want to see this swing
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299 high break a previous swing high immediately before the
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303 swing low that has broken a previous swing Okay so what
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307 we're doing is we're looking for a swing low broken here so
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311 now we have the ability to see the market trade to a new a
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315 new low then it retraces but will not break a swing high. So
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319 now we're getting that three quarterback retracement. Okay.
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323 So by itself it's like an optimal trade entry doesn't have
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327 to be 262 to seven times and tracing level. It's better if
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331 it does, but it doesn't require it. You want to see the
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335 market trade up until it creates a daily swing high. When
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339 that third candle forms and it's closed very next trading
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343 day, you will be watching for price to make an attempt to
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347 trade through this candles low and that remains the bias
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351 each trading day until a swing low forms or we trade down to
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355 this old low. Okay, or another significant low. So again,
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359 summary it's we're looking for Swing loaded form on the
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363 daily chart and then it be broken. Then we're looking for a
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367 swing high to form but does not break a recent swing high.
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370 00:07:10,530 ~-~-> 00:07:13,500
371 So here's a swing high, it doesn't come back to clear or
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375 break a previous swing high. When the swing high forms, we
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379 anticipate the third daily candle in the swing high right
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383 here. We look for its low to be rated or traded through the
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387 following day. And we look for the previous day's low to be
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391 rated each day until a new swing low on a daily forms, or
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395 price reaches a key support resistance level. Now, you're
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399 not going to have a set up every single trading day. Okay,
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403 I've gotten a lot of emails so far. Since I've produced the
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407 first volume of this three part series. And the common
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411 complaint. I'm getting his I'm not getting a set up every
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415 day and it's not been promised, okay, if you look at every
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419 major that's paired against the dollar, you can get about
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423 three to four solid setups per week. Now that means that
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427 you're probably not going to get a set up every single train
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431 day, chances are one pair among all the ones that are
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435 available will provide you a setup to study. So you can
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437 110
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439 practice in your demo account with it. The emphasis is for
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443 you to remember that you only need about 25 pips or so per
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447 week. And if you're 2% of your account, and it may be high,
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449 113
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451 admittedly, for some of you, but if you have grown in your
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455 understanding about what I'm teaching, and you're willing to
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459 risk 2% it takes a little bit less than 25 pips per week to
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463 double your account or make 6% compounded monthly. And I
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467 think that's the objective that folks should be looking for
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469 118
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471 when they're new. Because it's realistic, it's low, but yet
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475 it still doubles the account over the course of a 12 month,
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477 120
478 00:09:07,110 ~-~-> 00:09:13,230
479 year. So, if we're looking for one good setup that would
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481 121
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483 yield that 25 pips or so you only need one scalp. One setup
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485 122
486 00:09:18,420 ~-~-> 00:09:25,440
487 that does that. Now I started the current teaching week on
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489 123
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491 Twitter. Kind of like building the idea of making 50 pips
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493 124
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495 per week. If you frame your scalps in such a way that it
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499 allows you to aim for 25 pips you only really need two
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503 setups per week, don't you? Now, I like that model
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507 personally, because it's very close to what I do as a short
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511 term or intraday trader.
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515 I know the likelihood is I want to be trading on Tuesdays
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519 and Wednesdays, if I can get my entire weekly objective
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523 which is 50 to 75 pips per week, if I can get that done in
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527 one day then I won't do any more trading after that,
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529 133
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531 regardless of what day of the week it is. But usually I hone
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535 in on Tuesday and Wednesday because they're primarily the
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537 135
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539 best days, whether bullish or bearish. If it's bullish for
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543 the week, then I'm looking for the weekly low to form around
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545 137
546 00:10:15,090 ~-~-> 00:10:20,730
547 Tuesday or Wednesday's New York open. If I can anticipate a
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549 138
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551 lower close or weekly bearish candle, shooting with an
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553 139
554 00:10:26,220 ~-~-> 00:10:28,050
555 expectation that we're going to be seeing lower prices by
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557 140
558 00:10:28,050 ~-~-> 00:10:31,680
559 Friday's close relative to Sunday's opening, then I'll be
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561 141
562 00:10:31,680 ~-~-> 00:10:34,800
563 looking for Tuesday or Wednesday's price action to create
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565 142
566 00:10:34,800 ~-~-> 00:10:38,160
567 the high of the week. So if I can trade in sync with that
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569 143
570 00:10:38,160 ~-~-> 00:10:45,540
571 idea. It also formulates a lot more conviction and
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573 144
574 00:10:45,540 ~-~-> 00:10:48,180
575 confidence behind the setups that I'm looking to trade
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577 145
578 00:10:48,210 ~-~-> 00:10:50,910
579 especially with what's being described here. It's a rather
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581 146
582 00:10:50,910 ~-~-> 00:10:54,930
583 simplistic approach. It may have been an oversimplification
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585 147
586 00:10:54,960 ~-~-> 00:10:58,800
587 on my part, by way of creating this diagram but from an
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589 148
590 00:10:58,800 ~-~-> 00:11:02,160
591 internal standpoint, however, View the marketplace, this is
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593 149
594 00:11:02,190 ~-~-> 00:11:05,850
595 what I'm looking for. Okay? So if I see it on the daily
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597 150
598 00:11:05,850 ~-~-> 00:11:10,620
599 chart, chances are, the daily chart will probably sustain
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601 151
602 00:11:10,620 ~-~-> 00:11:14,790
603 the move for a few days, and you'll only need one trading
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605 152
606 00:11:14,790 ~-~-> 00:11:17,670
607 day. Okay, so if you have a scenario that's bullish or
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609 153
610 00:11:17,670 ~-~-> 00:11:20,100
611 bearish relative to what I just described here so far in
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613 154
614 00:11:20,100 ~-~-> 00:11:24,810
615 this video, you chances are you're probably gonna have one
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617 155
618 00:11:24,810 ~-~-> 00:11:29,370
619 day's worth of momentum. And that's all you need. So every
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621 156
622 00:11:29,370 ~-~-> 00:11:33,270
623 single pair does not move lockstep to one another. They're
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625 157
626 00:11:33,270 ~-~-> 00:11:37,470
627 not always moving in tandem. So what may be a good pair of
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629 158
630 00:11:37,470 ~-~-> 00:11:41,700
631 trade today may not be a pair that's really good to trade
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633 159
634 00:11:41,700 ~-~-> 00:11:46,680
635 tomorrow, but another pair may move in equal or better
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637 160
638 00:11:46,680 ~-~-> 00:11:51,570
639 fashion. In other words, the setups are plenty, but you have
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641 161
642 00:11:51,570 ~-~-> 00:11:56,250
643 to allow them to be presented in price action from the daily
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645 162
646 00:11:56,250 ~-~-> 00:12:01,170
647 chart and then not forcing it. So stay Look over at the
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649 163
650 00:12:01,170 ~-~-> 00:12:03,870
651 charts, I'll give you an example of what it looks like. And
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653 164
654 00:12:03,870 ~-~-> 00:12:11,070
655 we can use the kill zones. Okay, we're looking at the cable,
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657 165
658 00:12:11,190 ~-~-> 00:12:16,170
659 the daily chart. Now this scrolled through just found a
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661 166
662 00:12:16,170 ~-~-> 00:12:18,510
663 random place, it doesn't make a difference where we start
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665 167
666 00:12:18,510 ~-~-> 00:12:25,410
667 out. But I want you to take a look at the price action here.
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669 168
670 00:12:26,340 ~-~-> 00:12:34,680
671 And then we're going to look at this swing low, right here,
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673 169
674 00:12:35,610 ~-~-> 00:12:41,100
675 and it's on the heels of a previous short term high.
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677 170
678 00:12:46,380 ~-~-> 00:12:49,860
679 Okay, so we have a short term high here. Lower high to the
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681 171
682 00:12:49,860 ~-~-> 00:12:53,100
683 left, lower high to the right, high as high in the middle.
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685 172
686 00:12:53,730 ~-~-> 00:13:00,000
687 It breaks that. Okay, so now we're on a bye, watch for
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689 173
690 00:13:00,000 ~-~-> 00:13:06,390
691 scalping This is a swing high it's broken and we have to
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693 174
694 00:13:06,390 ~-~-> 00:13:10,590
695 wait for a swing low to form after this is broken so we're
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697 175
698 00:13:10,590 ~-~-> 00:13:14,790
699 going to be anticipating a retracement after this run up. So
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701 176
702 00:13:14,790 ~-~-> 00:13:21,480
703 as price starts to drop down we have a preliminary swing low
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705 177
706 00:13:21,480 ~-~-> 00:13:25,560
707 here Okay, so this candle is the third one we need to make
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709 178
710 00:13:25,560 ~-~-> 00:13:28,950
711 sure we wait for price to trade through this candles high
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713 179
714 00:13:29,310 ~-~-> 00:13:32,970
715 the very next day it doesn't do that. Okay, then we have
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717 180
718 00:13:32,970 ~-~-> 00:13:39,210
719 another candle form a potential swing low here so this
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721 181
722 00:13:39,210 ~-~-> 00:13:41,370
723 candle here we have to wait for this candle is high the
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725 182
726 00:13:41,370 ~-~-> 00:13:44,040
727 trade through very next candle doesn't do it. It does it
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729 183
730 00:13:44,040 ~-~-> 00:13:49,230
731 here. So now we can be a buyer here with a scout running
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733 184
734 00:13:49,230 ~-~-> 00:13:54,750
735 previous day's high which is this one. Okay, so one July
736
737 185
738 00:13:54,750 ~-~-> 00:14:00,630
739 24 2017. That high again coming in at 130 47 That's where
740
741 186
742 00:14:00,630 ~-~-> 00:14:05,550
743 the liquidity run is going to be right there. This candle on
744
745 187
746 00:14:05,550 ~-~-> 00:14:08,970
747 the 25th of July is where we'll be looking for the setup.
748
749 188
750 00:14:14,250 ~-~-> 00:14:18,390
751 Right there. Okay, and we're going to drop down into a
752
753 189
754 00:14:18,390 ~-~-> 00:14:20,790
755 smaller timeframe, we'll use a 15 minute timeframe.
756
757 190
758 00:14:26,070 ~-~-> 00:14:30,930
759 Okay. And scrunch this up with the date dividers and you
760
761 191
762 00:14:30,930 ~-~-> 00:14:38,670
763 guys can see it. So previous day's high is right here. So
764
765 192
766 00:14:38,670 ~-~-> 00:14:42,660
767 I'll put a horizontal line on the chart to facilitate that.
768
769 193
770 00:14:46,590 ~-~-> 00:14:51,030
771 Okay, so here's where the liquidity is we're running for
772
773 194
774 00:14:51,150 ~-~-> 00:15:00,450
775 3057. Okay, this day here we're looking for a scenario To
776
777 195
778 00:15:00,450 ~-~-> 00:15:11,670
779 get long to run that liquidity pool. Okay, and we have this
780
781 196
782 00:15:12,660 ~-~-> 00:15:16,230
783 again, it's the liquidity poor risk reaching for previous
784
785 197
786 00:15:16,230 ~-~-> 00:15:23,280
787 day's high on this trading day when I use the market
788
789 198
790 00:15:23,880 ~-~-> 00:15:28,380
791 sessions, I'm looking for London setups in New York setups
792
793 199
794 00:15:28,410 ~-~-> 00:15:33,240
795 primarily, this is a London session low. Gonna let you see
796
797 200
798 00:15:33,240 ~-~-> 00:15:40,950
799 that here. It's in London and we're going to use that. As I
800
801 201
802 00:15:40,950 ~-~-> 00:15:48,120
803 mentioned in Volume One, I use session highs and lows. And
804
805 202
806 00:15:48,120 ~-~-> 00:15:53,790
807 this is the highest portion of the day in terms of a 15
808
809 203
810 00:15:53,790 ~-~-> 00:15:57,810
811 minute candle. Just put it right here. You guys can see it
812
813 204
814 00:15:57,810 ~-~-> 00:16:01,470
815 so I'm using this one and this one framing the entire price.
816
817 205
818 00:16:02,790 ~-~-> 00:16:06,000
819 So as price starts to stay here I'm not concerned about
820
821 206
822 00:16:06,000 ~-~-> 00:16:11,610
823 anything until it gets down into the optimal trade entry 62%
824
825 207
826 00:16:11,610 ~-~-> 00:16:17,310
827 retracement level respectively 70.5 and 79% okay you can see
828
829 208
830 00:16:17,310 ~-~-> 00:16:21,210
831 price trades it hits it here. This candle comes in exactly
832
833 209
834 00:16:21,210 ~-~-> 00:16:28,800
835 945 that's London and we're going into a nice run into
836
837 210
838 00:16:29,250 ~-~-> 00:16:33,060
839 previous day's high. Okay, so you can see that was a nice
840
841 211
842 00:16:33,060 ~-~-> 00:16:39,240
843 little scalp, it offered as much as 1020 3040 pips, to get
844
845 212
846 00:16:39,240 ~-~-> 00:16:44,070
847 to the high and if we look for 10 to 20 pips of sweep bar
848
849 213
850 00:16:44,070 ~-~-> 00:16:50,880
851 this high that takes us 1020 here, so 20 pips 40 pips 60
852
853 214
854 00:16:50,880 ~-~-> 00:16:57,030
855 pips 70 pips or so in terms of potential price range. That
856
857 215
858 00:16:57,030 ~-~-> 00:17:00,660
859 in itself is it for the week for me, that would be I
860
861 216
862 00:17:00,660 ~-~-> 00:17:03,210
863 wouldn't need to do anything else. And it's hard to believe.
864
865 217
866 00:17:03,930 ~-~-> 00:17:06,570
867 But that's how I operate. I don't look for a whole lot of
868
869 218
870 00:17:06,570 ~-~-> 00:17:09,840
871 setups per week because I'm content with you doing one thing
872
873 219
874 00:17:09,840 ~-~-> 00:17:14,760
875 well, and there it is. Now, if this were a more conservative
876
877 220
878 00:17:14,760 ~-~-> 00:17:18,630
879 approach, you could be looking for the long down here based
880
881 221
882 00:17:18,630 ~-~-> 00:17:23,250
883 on the optimal trade entry and reaching just to the old
884
885 222
886 00:17:23,250 ~-~-> 00:17:28,740
887 high. Now if that's the case, say you're filled it, we'll
888
889 223
890 00:17:28,740 ~-~-> 00:17:34,650
891 just round it to 130 20 that again, is getting out at 57
892
893 224
894 00:17:36,150 ~-~-> 00:17:40,380
895 it's 37 pips or so. Okay, almost 40 pips we'll say 40 pips.
896
897 225
898 00:17:41,850 ~-~-> 00:17:44,700
899 You only need to do one more trade for the week, pretend
900
901 226
902 00:17:44,700 ~-~-> 00:17:51,120
903 pips to get a 50 PIP net return for the week. Now, there's a
904
905 227
906 00:17:51,120 ~-~-> 00:17:55,140
907 lot of folks that will say, don't set targets don't set
908
909 228
910 00:17:56,550 ~-~-> 00:18:00,660
911 goals for daily or weekly because you don't Know what the
912
913 229
914 00:18:00,660 ~-~-> 00:18:03,750
915 markets going to do? Well, I would submit that that's
916
917 230
918 00:18:03,840 ~-~-> 00:18:08,010
919 partially true. We don't know with any assurity what the
920
921 231
922 00:18:08,010 ~-~-> 00:18:11,700
923 markets going to do. But we do have pretty strong
924
925 232
926 00:18:11,700 ~-~-> 00:18:15,120
927 probabilities of wherever the market may reach for. And if
928
929 233
930 00:18:15,120 ~-~-> 00:18:18,360
931 we can frame the idea of where we're trying to get in at
932
933 234
934 00:18:18,360 ~-~-> 00:18:22,170
935 based on time and price kill zone and optimal trade entry
936
937 235
938 00:18:22,260 ~-~-> 00:18:25,680
939 price, and where we're reaching for it, doesn't that not
940
941 236
942 00:18:25,890 ~-~-> 00:18:29,610
943 offer us a definitive way of determining what could be
944
945 237
946 00:18:29,610 ~-~-> 00:18:33,360
947 reasonably expected for that particular setup? And if we
948
949 238
950 00:18:33,360 ~-~-> 00:18:36,360
951 know that we're looking at intraday setups like this is
952
953 239
954 00:18:36,360 ~-~-> 00:18:39,540
955 typically five days per week, unless it's a holiday or the
956
957 240
958 00:18:39,540 ~-~-> 00:18:42,840
959 markets are not trading because of some other bank holiday
960
961 241
962 00:18:42,840 ~-~-> 00:18:47,100
963 whatever we don't want to trade it. We can see many
964
965 242
966 00:18:47,100 ~-~-> 00:18:55,200
967 instances where 25 to 50 pips is rather easy to get now.
968
969 243
970 00:18:55,800 ~-~-> 00:18:59,340
971 It's when we get into the I want to make 250 to 500 pips per
972
973 244
974 00:18:59,340 ~-~-> 00:19:03,270
975 week. Then it becomes a little daunting in terms of a task.
976
977 245
978 00:19:03,510 ~-~-> 00:19:08,940
979 So I think by focusing on 2025 pips per setup and an aiming
980
981 246
982 00:19:08,940 ~-~-> 00:19:10,590
983 for two good ones per week,
984
985 247
986 00:19:11,850 ~-~-> 00:19:16,620
987 I think 50 pips is a really low hanging fruit reachable,
988
989 248
990 00:19:16,680 ~-~-> 00:19:20,970
991 achievable and certainly realistic in the scope of a
992
993 249
994 00:19:20,970 ~-~-> 00:19:24,810
995 developing trader. Will you get it every week? No. Will you
996
997 250
998 00:19:24,810 ~-~-> 00:19:28,140
999 get it right out the gate starting using my concepts? No.
1000
1001 251
1002 00:19:28,800 ~-~-> 00:19:32,490
1003 But over time, you will eventually grow into that expectancy
1004
1005 252
1006 00:19:32,490 ~-~-> 00:19:37,140
1007 for a nice return of 50 pips per week. You can frame your
1008
1009 253
1010 00:19:37,140 ~-~-> 00:19:38,400
1011 entire career on that.