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Last modified by Drunk Monkey on 2021-06-10 09:59
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edited by Drunk Monkey
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edited by Drunk Monkey
on 2021-06-10 09:59
Change comment: There is no comment for this version

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3 -ICT: Hello, folks, long time to see
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2 +|1 |00:00:26,430 ~-~-> 00:00:40,800 |ICT: Well, Hello Folks, longtime new See, if you'd like me the present conditions around the world right now, because of the the illness that's been
3 +|2 |00:00:40,800 ~-~-> 00:00:53,040 |plaguing everyone. I thought of everyone on the YouTube channel that has supported this channel and maybe has been longing for some inspiration, maybe
4 +|3 |00:00:53,040 ~-~-> 00:01:13,170 |some kind of a nudge, by grow ICT. So I came here with the expectation that I would give the next four weeks, or 20 trading days, just a snapshot real quick,
5 +|4 |00:01:14,400 ~-~-> 00:01:26,130 |kind of like train your eye to see the optimal trade entry. And it's many formations and subtle nuances. Now, it's not a signal service. So that way you
6 +|5 |00:01:26,130 ~-~-> 00:01:36,900 |guys didn't like to do the thumbs down button, which I love that the the content I'm going to be providing you here is just really to activate your reticular
7 +|6 |00:01:36,900 ~-~-> 00:01:49,440 |activating system, it means train your eye to see what it looks like, and how it tends to form. Okay, so for some of you that are very versed in my content in
8 +|7 |00:01:49,950 ~-~-> 00:02:05,190 |old stuff in the classic ICT library, the optimal trade entry is a really an old staple. Now, it's not important for me to go through the entire optimal trade
9 +|8 |00:02:05,190 ~-~-> 00:02:15,900 |entry, and all the levels and all that stuff, you'll see what they are obviously in the examples. But if you have not watched the optimal trade entry, or ot E,
10 +|9 |00:02:16,200 ~-~-> 00:02:26,730 |primer video, you can do a search on YouTube, and you'll see it pops up, watch that video and kind of like gives you a calling a foundation up how to set your
11 +|10 |00:02:26,730 ~-~-> 00:02:39,060 |fed my business. So if we are looking at the next 20 days, just know that these videos are not intended to be very long, I want to try to get right to the
12 +|11 |00:02:39,060 ~-~-> 00:02:47,160 |point. But this is the first one in this series. So I kind of like one, take a little bit of liberty to remind the individuals that are probably just new to
13 +|12 |00:02:47,160 ~-~-> 00:02:59,880 |me, or to hardline critics that just can't stand me. I love you too. The, again, the premise behind all this is again, not to say here's what, here's what the
14 +|13 |00:02:59,880 ~-~-> 00:03:09,870 |markets gonna do next. Okay, that's not what I'm doing here. Okay, what I'm showing you is how you go into your charts and annotate them. Look for the
15 +|14 |00:03:09,870 ~-~-> 00:03:19,380 |optimal trade entry, because this is how I trained myself to see it. Back in the 1990s. I worked just like every one of you. And I came home. And I had to look
16 +|15 |00:03:19,380 ~-~-> 00:03:31,110 |at charts and look at moves that I missed. So I taught myself to look for specific patterns and signatures and price action over a period of years. And
17 +|16 |00:03:31,140 ~-~-> 00:03:42,600 |because of that, and seeing it over and over and over again, it builds in a pseudo experience. In other words, I at the time was not able to see these
18 +|17 |00:03:42,630 ~-~-> 00:03:53,880 |formations form live. So I would go back and look at my charts and annotate them in capacity, as if I were really there watching it and annotating the chart as
19 +|18 |00:03:53,880 ~-~-> 00:04:04,440 |if it was something that watched and witnessed live. Now, I'm not going to annotate the charts to the degree that I personally would do it. But I'm going
20 +|19 |00:04:04,440 ~-~-> 00:04:17,730 |to provide you a kind like a baseline to work with. And you can dress up your own charts and annotations and draw a great deal of attention to other things
21 +|20 |00:04:17,730 ~-~-> 00:04:22,710 |that may be important to you. Okay, or your unique price action model.
22 +|21 |00:04:24,870 ~-~-> 00:04:35,550 |I'm not teaching bias. I'm not teaching how to find the right order blocks, okay, I'm not doing all that. It's just again, to train your eye to see a
23 +|22 |00:04:35,550 ~-~-> 00:04:43,920 |specific ground on it takes place in the marketplace. And again, some of you're going to say all this is something that everybody knows about. It's a Fibonacci
24 +|23 |00:04:43,920 ~-~-> 00:04:51,270 |retracement. ICT didn't invent it. And it's this and it's that okay, if that's your attitude, that's how you think that's your you're going into this video.
25 +|24 |00:04:51,570 ~-~-> 00:05:00,510 |I'm really gonna waste your time. And just know that if you're that person, I enjoy that where everyone else that wants to really learn how to do something I
26 +|25 |00:05:00,510 ~-~-> 00:05:13,110 |want you to see what it's like over and over and over again over a period of four weeks. Okay, so if anything is studied for a month, basically, it really
27 +|26 |00:05:13,110 ~-~-> 00:05:27,030 |starts to take root in number one, your memory, and your identification, okay? The faculties that each of us have to see something that is important to us, it
28 +|27 |00:05:27,030 ~-~-> 00:05:38,280 |has to be activated. Okay, and real short and sweet. The common example I always use is if you buy a car, and you've looked forward to buying this car, and once
29 +|28 |00:05:38,280 ~-~-> 00:05:46,500 |you buy it, you take it home. And the very next day you're driving, it might be the day you come home with it, you start noticing that a lot of other people
30 +|29 |00:05:46,500 ~-~-> 00:05:57,510 |seem to have that same car. And it's not that more people bought it because you did. But your reticular activating system has been keyed up, okay to filter that
31 +|30 |00:05:57,510 ~-~-> 00:06:09,000 |car, because it's meaningful to you. And so, by me showing you examples of this particular pattern, and the signatures that generally repeat with it, you're
32 +|31 |00:06:09,000 ~-~-> 00:06:19,410 |going to see how you can start doing this on your own. And then if you have the ability to watch it live, you'll see many times its formation, and then you'll
33 +|32 |00:06:19,410 ~-~-> 00:06:31,170 |grow your confidence to paper, trade it, then demonstrate it. And if you feel inclined to do so, if you shown six months of consistency, you want to dabble
34 +|33 |00:06:31,170 ~-~-> 00:06:39,090 |with a very, very small amount of money, live money, nothing big, nothing grandiose, this smallest amount of money you can open up an account with and
35 +|34 |00:06:39,090 ~-~-> 00:06:49,950 |then trade the smallest little lot sizes possible. And then again, just follow the same protocols and procedures that would otherwise lead to your trust. in
36 +|35 |00:06:49,950 ~-~-> 00:06:58,020 |finding and price action, you determine that on your own, I don't ever selling myself a good tree with live money, because there's a lot of responsibility in
37 +|36 |00:06:58,020 ~-~-> 00:07:06,570 |that. And legally, I can't tell you to do that. But I can talk about price action, and I can talk about the signatures that repeat themselves. And I only
38 +|37 |00:07:06,570 ~-~-> 00:07:15,390 |want to talk about the optimal trade entry. Okay, so please, don't try to reach out to me and say, Hey, can you talk about this? Can you do that, I'm only going
39 +|38 |00:07:15,390 ~-~-> 00:07:24,780 |to be doing just this. Okay. So again, every video, I'm going to try to aim at five minutes or less. But this one just has to be just a little bit long winded
40 +|39 |00:07:24,780 ~-~-> 00:07:33,030 |because I have to have a preamble to set the stage for what it is I'm doing so that way no one can say you said it was going to be this and it's not. Okay. So
41 +|40 |00:07:33,420 ~-~-> 00:07:42,810 |if you're serious about understanding the things that I'm making available to you on this YouTube channel, one of the hallmarks is the optimal trade entry. So
42 +|41 |00:07:42,810 ~-~-> 00:07:51,960 |again, watch the optimal trade entry primer video first, and then come back to this series. Okay, so, again, it'll be 20 videos in the series, and I'll try to
43 +|42 |00:07:52,230 ~-~-> 00:08:01,620 |create a playlist that way, you guys can find it very easily. And we got to go through it. But tonight, as the pilot episode, we're looking at the Australian
44 +|43 |00:08:01,620 ~-~-> 00:08:14,640 |dollar. Okay, so I'm using tradingview.com as the resource and platform. And the data I'm pulling up is the Australian dollar versus the US dollar forex.com. So
45 +|44 |00:08:14,640 ~-~-> 00:08:25,380 |whenever you put this symbol over here, it's going to give you a assortment of different data feeds. And I always use the forex.com. So that way, you guys can
46 +|45 |00:08:25,380 ~-~-> 00:08:36,390 |see the the price action the same way as I'm President presenting it here. Alright, so when we look at the optimal trade entry, and we look at its
47 +|46 |00:08:36,390 ~-~-> 00:08:48,300 |formation on a day by day daily basis. Now, again, I'm not trying to push or entice or convince
48 +|47 |00:08:48,360 ~-~-> 00:09:00,630 |that you should be day trading every single day. Okay, that's not what this is. I can, but I've been doing this for almost three decades, so many of you are
49 +|48 |00:09:00,630 ~-~-> 00:09:10,710 |very, very new. And there's nothing wrong with that. But you cannot speed this process up. It has to be done methodically has to be done in a way where it just
50 +|49 |00:09:10,890 ~-~-> 00:09:22,920 |allows for development, in not rushing can't rush it. Okay, so if you look at this particular currency pair, some of you that are familiar with my concepts
51 +|50 |00:09:22,950 ~-~-> 00:09:33,060 |right away know that there is the sensitivity off of this low here, and this low here is inside of these two consecutive down close candles, that's an order
52 +|51 |00:09:33,060 ~-~-> 00:09:43,080 |block. So it's going to be important for the discussion just simply because of this video, but every video after this, I'm only going to go right into the day
53 +|52 |00:09:43,740 ~-~-> 00:09:55,290 |and reference the previous day's range and show you how the optimal trade entry formed. So if you learn this, okay, if you grow in comfort and identifying this
54 +|53 |00:09:55,710 ~-~-> 00:10:04,770 |over a period of time, what period of time minimum four weeks do Study. Now that doesn't mean for which you graduate. Now your optimal trade entry Master, it
55 +|54 |00:10:04,770 ~-~-> 00:10:14,880 |just means that you're very familiar with it, and you have a little bit of a sample size of experience. You want to build on that, how long it will take for
56 +|55 |00:10:14,880 ~-~-> 00:10:25,230 |you to get, really, I guess, used to seeing the pattern, and anticipating when it's going to form that's going to be different for every single one of you. So
57 +|56 |00:10:25,230 ~-~-> 00:10:33,510 |it's not, here's a general rule of thumb. Everybody gets it by this time. No mentor, no teacher, no educator can say everyone's going to get it by this
58 +|57 |00:10:33,510 ~-~-> 00:10:46,500 |timeline. So be very flexible with your development, on your personal develop, not comparing yourself to someone else. Okay. So when we look at price action on
59 +|58 |00:10:46,500 ~-~-> 00:10:57,120 |a daily chart, the main thing we're looking for is the reactions from the previous day's range. Okay, so this is the day that we're going to study,
60 +|59 |00:10:57,240 ~-~-> 00:11:05,310 |because this is a new trading day now. But we're going to be looking at this particular day here. And already here, all the people here it is, it's hindsight
61 +|60 |00:11:05,310 ~-~-> 00:11:14,940 |again, okay. For those that are new, put the fact that it's hindsight aside for a moment, because every single thing that you study when you buy a book,
62 +|61 |00:11:16,230 ~-~-> 00:11:27,090 |newsflash, that's all hindsight to when you go to a seminar, or a webinar, and they show you previous examples. That's all hindsight to. So you'll learn by
63 +|62 |00:11:27,090 ~-~-> 00:11:37,170 |identifying a pattern that repeats, okay, so I'm teaching you a pattern of what it looks like, and how it generally forms. Okay, so if you do this, if you learn
64 +|63 |00:11:37,170 ~-~-> 00:11:46,050 |to do this very, very well, this could be your personal trading model. You never need to learn anything else, you never worry about indicators, you never worry
65 +|64 |00:11:46,050 ~-~-> 00:11:52,920 |about learning anything else in the ICT library. You don't even worry about mentorships, you don't worry about going over here and signing up with signal
66 +|65 |00:11:52,920 ~-~-> 00:12:05,640 |services, because you will be your own power plant of decisions and ideas and trade setups, they'll come organically from your own study, not relying on other
67 +|66 |00:12:05,640 ~-~-> 00:12:15,540 |people not relying on me, not people in chat rooms or, or groups, nothing like that. Okay, the big thing now is everyone's going to discord rooms, okay? Or
68 +|67 |00:12:15,810 ~-~-> 00:12:27,330 |telegram rooms, all these things and are all looking for someone that's good. So they can copycat off of. And you don't need that, you're absolutely in a
69 +|68 |00:12:27,330 ~-~-> 00:12:36,720 |position to learn how to do this for free, right here. And you don't need to have anybody else to convince you, or patch on the back to say, follow me,
70 +|69 |00:12:36,780 ~-~-> 00:12:43,620 |because I'm going to do it, and you're going to copy us because that makes you subservient to them. And that's not independent thinking. And to me, personally,
71 +|70 |00:12:43,620 ~-~-> 00:12:52,560 |I think it's weakness. And you don't want to be a weak minded decision maker in something like this, because you have the capacity to lose a great deal of money
72 +|71 |00:12:52,560 ~-~-> 00:13:01,920 |for trading with live funds, right. So the down close candles in here, that's our order block, we had a candle tree down into it, and then the previous day
73 +|72 |00:13:01,920 ~-~-> 00:13:11,790 |now again, kind of like just move this candle out of your focus. Don't think that anything about this candle right now we're only focusing on this candles
74 +|73 |00:13:11,790 ~-~-> 00:13:24,390 |range and the previous day, which is the sixth of May. Okay, so in the United States right now, it's 8:41pm, New York local time. And it's still the seventh
75 +|74 |00:13:24,390 ~-~-> 00:13:35,670 |for me. But it's a new financial day in the Forex sets overseeing this candle form. So when we look at the previous day's range, it's important to just simply
76 +|75 |00:13:35,670 ~-~-> 00:13:39,060 |identify the highs and the lows of it.
77 +|76 |00:13:41,220 ~-~-> 00:13:52,800 |Okay, so right away, we know this candles high. And if we looked at these two down close candles, and the fact that we traded down into it here, we had a
78 +|77 |00:13:52,800 ~-~-> 00:14:06,480 |candle trade, again, a little bit into your block, the order block is starting at the wick. So this candles high comes in at 6397 a four bit that's the price
79 +|78 |00:14:06,480 ~-~-> 00:14:18,120 |action dips into that candle range. And it does it again on the seventh. Okay, so it's not showing a willingness to go deeper. It doesn't want to dig in deeper
80 +|79 |00:14:18,120 ~-~-> 00:14:29,880 |and even take out the low over here. So we have to consider at least for this episode for this particular video, the likelihood of the market wanting to go
81 +|80 |00:14:29,880 ~-~-> 00:14:40,650 |higher. So what we want to see is does it have the ability on the very next day or the main seventh candle? Does it have the ability to trade above the previous
82 +|81 |00:14:40,650 ~-~-> 00:14:52,110 |day's range high? Why is that important? For those that have a serious interest in following along in keeping up with this series, you want to take notes, okay,
83 +|82 |00:14:52,110 ~-~-> 00:15:04,050 |so get yourself a pen and pad and just I guess make a study journal Just for optimal trade entry. Okay, so over the next 20 days, I'm going to give you
84 +|83 |00:15:04,230 ~-~-> 00:15:13,260 |simple little facets that go along with this pattern. And you'll see that it will flesh out over a period of time. And you'll start seeing things that you
85 +|84 |00:15:13,260 ~-~-> 00:15:23,040 |didn't really see before, even if you're familiar with the optimal trade entry. So we're gonna go down to a lower timeframe, and these levels here are going to
86 +|85 |00:15:23,040 ~-~-> 00:15:34,230 |be on the lower timeframe chart. But this study over the next 20 days is going to focus on intraday charts. And specifically a five minute chart. And right
87 +|86 |00:15:34,230 ~-~-> 00:15:42,750 |away some of your like, kind of like five minute charts, I can't do that. Trust me, it's beneficial to your learning. Alright, so Alright, so what we have here
88 +|87 |00:15:42,750 ~-~-> 00:15:52,950 |is a blank canvas in the form of candlesticks that may or may not mean anything to you. But I want to press upon you the importance of knowing the previous
89 +|88 |00:15:52,950 ~-~-> 00:16:04,200 |day's high and low. And it's very simple process, you can go into your charts, and today and put vertical delineations on the seventh, and the sixth. So the
90 +|89 |00:16:04,200 ~-~-> 00:16:17,970 |range low on the six is here in the range high is here. So when we know that on a daily chart, okay above previous day's highs and lows. Only say like this,
91 +|90 |00:16:18,000 ~-~-> 00:16:27,600 |above previous day's highs and below previous day's lows, there's a bank of orders that generally reside in the marketplace and throughout the day,
92 +|91 |00:16:28,170 ~-~-> 00:16:36,330 |depending upon how we get closer to the previous day's high or low on the new trading day in the new trading day. In this example, here is the seventh. So
93 +|92 |00:16:36,330 ~-~-> 00:16:53,100 |we're assuming all this price action here is what we're studying. When the market has a predisposed. bias, or trend or momentum, or you just think, okay,
94 +|93 |00:16:53,100 ~-~-> 00:17:00,900 |that it's going to go higher, you want to focus on the previous day's high, and then you want to see does it have the ability to stretch and reach up to the
95 +|94 |00:17:00,900 ~-~-> 00:17:11,790 |previous day's high? If it does, one of two things generally happens in assuming it's a bullish one, it goes through the previous day's high and dis explodes and
96 +|95 |00:17:11,790 ~-~-> 00:17:17,820 |never gives you a chance to trade. And that's just a missed opportunity. And there's nothing you could do about it, there's no reason to get upset about it.
97 +|96 |00:17:17,850 ~-~-> 00:17:26,280 |There's no reason to go online and complain to other people how you missed that trade, or you suck, or you're, you're never going to get this, never do that.
98 +|97 |00:17:26,310 ~-~-> 00:17:34,080 |Because you're actually giving yourself negative reinforcement. And your subconscious will remember that. And every chain you take after that trade will
99 +|98 |00:17:34,080 ~-~-> 00:17:44,640 |be plagued by that negative narrative that you've given yourself that you suck, you're never going to get this. So every time you actually muster up the courage
100 +|99 |00:17:44,820 ~-~-> 00:17:52,230 |to get an actually execute. You're going to be scared, you're going to be constantly revved up, you're going to be in a constant state of stress and
101 +|100 |00:17:52,230 ~-~-> 00:18:01,170 |anxiety, versus just following the method you've adopted and focusing on what price is doing. Is it still viable in terms of a trade? Or should you collapse
102 +|101 |00:18:01,170 ~-~-> 00:18:10,710 |it or maybe take some of the risk off or stick with it because now it's moving in your favor? When we look at previous day's highs and previous day's lows, we
103 +|102 |00:18:10,710 ~-~-> 00:18:21,210 |want to see the market go up above it. And then once it trades to the previous day's high if we're bullish, we want to see does it create an optimal trade
104 +|103 |00:18:21,210 ~-~-> 00:18:30,060 |entry? Because many times you're going to see this formation form exactly what I'm showing you here Okay, lots and lots of times do you see this formation form
105 +|104 |00:18:30,600 ~-~-> 00:18:37,290 |throughout the week and it may not be that particular currency or this currency in this example here Australian versus the Dollar,
106 +|105 |00:18:37,680 ~-~-> 00:18:51,060 |it may be in euro it may be in cable, it may be in the beast pound versus yen, it may be the New Zealand dollar, it may be in gold, it may be in a
107 +|106 |00:18:51,060 ~-~-> 00:19:02,610 |cryptocurrency, okay? It's not limited to just one currency stick to it and always expect it to happen like that. When you understand this pattern, you can
108 +|107 |00:19:02,910 ~-~-> 00:19:13,410 |mark out your previous day's highs and lows. And if there is a very discernible, clear, unambiguous directional bias that lends well to one particular currency
109 +|108 |00:19:13,410 ~-~-> 00:19:20,640 |or two over the other basket of currencies that you follow, then that means that you've very easily filtered out all the other currencies. So now you're going to
110 +|109 |00:19:20,640 ~-~-> 00:19:28,830 |focus on maybe one or two for that particular day and then wait to see if it trades to end through the previous day's high if it's bullish or below the
111 +|110 |00:19:28,830 ~-~-> 00:19:40,350 |previous day's low if you're bearish. Now with these ideas mentioned in general bullet point fashion, as I've just given you, let's flesh this idea out a little
112 +|111 |00:19:40,350 ~-~-> 00:19:48,870 |bit and put some lipstick on this pig here. Okay, so we got the vertical delineation here on the sixth and the seventh. So between those two vertical
113 +|112 |00:19:48,870 ~-~-> 00:19:58,890 |lines, we have the highest high and the lowest low as denoted on the chart here previous day's high, previous day's low. And here's the daily bullish order
114 +|113 |00:19:58,890 ~-~-> 00:20:08,100 |block, as outlined On the daily chart before we move down into lower timeframe. Alright, so the previous day's high on this particular candle here we have 6445,
115 +|114 |00:20:08,340 ~-~-> 00:20:21,570 |and three pipettes. And then the next candle is the very highest high at 6453. Okay, so that's our high. So think in terms of round numbers and big figures and
116 +|115 |00:20:21,570 ~-~-> 00:20:36,210 |mid figures. Okay, so essentially, this high being 53, even if that's the high, what is it really trading around 6450 mid figure. So it's the midpoint between
117 +|116 |00:20:36,480 ~-~-> 00:20:48,330 |64 00 and 65 00. So the mid figure levels are very significant, they're important. Couple that with the fact that this high and this high here are
118 +|117 |00:20:48,360 ~-~-> 00:21:01,530 |basically relatively the same high above this clear area that would otherwise be viewed as retail resistance. Traders think that this offered resistance here it
119 +|118 |00:21:01,530 ~-~-> 00:21:10,380 |offered resistance here. And as it starts to break down anyone going short, they would feel very comfortable putting a stop loss above these highs, because they
120 +|119 |00:21:10,380 ~-~-> 00:21:21,870 |feel with visual support behind the theory that this is resistance. So there's going to be a bank of orders that reside above this, because it's the previous
121 +|120 |00:21:21,870 ~-~-> 00:21:31,950 |day's high when we're looking at over here, and the fact that we have relative equal highs, so there's going to be a layer of liquidity above these highs and
122 +|121 |00:21:31,950 ~-~-> 00:21:44,280 |above the mid figure, okay, so 6450, which is this black line here, and then 10 pips above it, which is 6460 and 10 pips below is 6440. So we have a standard
123 +|122 |00:21:44,280 ~-~-> 00:21:53,460 |deviation of 10. pips. Now, I don't want to make it too complicated. But just understand that what I'm showing you here, this is about the general rule of
124 +|123 |00:21:53,460 ~-~-> 00:22:03,480 |thumb, you're going to get that seems really technical, just know that whenever we have a previous high, or previous low, how I did this here, I would do the
125 +|124 |00:22:03,480 ~-~-> 00:22:14,940 |same thing around this low here, because the low on this candle comes in at 6378. So we have an institutional level of 80. So if you're, again, if you're
126 +|125 |00:22:14,940 ~-~-> 00:22:29,070 |new here, 00 level, point 80 or 80, in this case here, 50, mid figure, and point 20 or 20, in instance, for Australian dollar. So you have mid figure levels
127 +|126 |00:22:29,070 ~-~-> 00:22:41,220 |that's very sensitive at level 20 and 00 levels. Now, why are these levels important? Why they significant is because a lot of large fund traders make
128 +|127 |00:22:41,220 ~-~-> 00:22:50,340 |their orders very easy for processing, and he just put them in there at that level. A lot of commerce gets done at those levels too. So when there's global
129 +|128 |00:22:50,340 ~-~-> 00:22:59,730 |commerce that comes into the marketplace, IBM needs to do business in Japan, so they have to turn dollars into yen, when they put orders in for that
130 +|129 |00:22:59,910 ~-~-> 00:23:09,990 |transaction. It's just easier for the bank to move that into those levels, and do the commerce there.
131 +|130 |00:23:10,410 ~-~-> 00:23:21,240 |So, again, if that's not important, it's nothing that needs to be known or followed or believed in. Okay, to see this work, all we're doing is studying a
132 +|131 |00:23:21,240 ~-~-> 00:23:31,680 |signature in price action, that will tend to repeat a lot. And this is one of the formations of optimal trade entry and why it forms here. Okay, so again, the
133 +|132 |00:23:31,680 ~-~-> 00:23:42,540 |daily chart, we're assuming the previous day's high should be traded to and if it does, it should be bullish, and look to see higher prices. If it goes below
134 +|133 |00:23:42,540 ~-~-> 00:23:52,950 |the previous day's low, that means that we can't be as bullish, but we can now study to see if we have a bearish optimal trade entry because the previous day's
135 +|134 |00:23:52,950 ~-~-> 00:24:00,480 |low has been violated. So there's always a study and it's not about hands is very important, write this down and underline it several times and highlight it
136 +|135 |00:24:00,480 ~-~-> 00:24:09,720 |and draw all kinds of, you know, annotations around that draw your attention to how important this is. It's not about being right or wrong. This study is to
137 +|136 |00:24:09,720 ~-~-> 00:24:20,760 |show you what it looks like every single day and how you're going to go into the chart. So when I show these examples, again, it's just to train your eye to see
138 +|137 |00:24:20,820 ~-~-> 00:24:31,500 |the thing I'm showing you over and over and over again. And you're gonna find that this is exactly what it tends to do in other markets as well. It's not just
139 +|138 |00:24:31,650 ~-~-> 00:24:41,220 |me form fitting it into this one because it looks pretty okay. So again, the idea is we're looking for the previous day's high on the sixth that be traded to
140 +|139 |00:24:41,220 ~-~-> 00:24:50,850 |it does here and then we consolidate and retrace a little bit and we hang around once it hits that 6450 level which that black line here. It does blow out the
141 +|140 |00:24:50,850 ~-~-> 00:24:59,190 |previous day's high not by much but it does. And then it gyrates down 10 pips or a little bit more than that and picks up more orders. What is it doing? It's
142 +|141 |00:24:59,190 ~-~-> 00:25:07,170 |gathering more orders. here and then there's a displacement here, price starts to create a run up above the previous day's high with a little bit more
143 +|142 |00:25:07,170 ~-~-> 00:25:18,780 |meaningful run. So the shallow run here gets overtaken here. And then price does what it returns back to the 6450 mid figure and consolidates between 6460 6450.
144 +|143 |00:25:18,990 ~-~-> 00:25:32,370 |And what's it doing? It's allowing all the orders that was above the previous day's high and around 6450. An order bank gets depleted because of the time it's
145 +|144 |00:25:32,370 ~-~-> 00:25:40,770 |sitting in here. Now when I say order bank, it's, it's basically a huge collection of orders that may or may not be in the marketplace around here. But
146 +|145 |00:25:40,770 ~-~-> 00:25:49,830 |as it sits in here, people will start to build a bias or a sentiment about what they think the Australian dollar is going to do. In terms of bullishness, or
147 +|146 |00:25:49,830 ~-~-> 00:26:02,670 |bearishness, these orders that are accumulated in here are going to build up over time. Price makes a run above the 6460 level and starts to just get into
148 +|147 |00:26:02,670 ~-~-> 00:26:14,460 |the 6470. But it's not important. We're looking for price to go to a specific time and specific price. So we're looking at time and price. That's what makes
149 +|148 |00:26:14,520 ~-~-> 00:26:23,250 |optimal trade entry or the ICT optimal trade entry pattern what it is, it's not just simply going in there and saying, okay, every time that price retraces it,
150 +|149 |00:26:23,250 ~-~-> 00:26:29,460 |because otherwise that's just Fibonacci trading, okay, or ratio trading, or harmonic trading? Yeah, I'm
151 +|150 |00:26:29,459 ~-~-> 00:26:38,429 |saying it, everyone's got a name for it. Okay. But what I'm showing you what makes this optimal, okay, is the fact that it's occurring at a key time of day.
152 +|151 |00:26:38,999 ~-~-> 00:26:47,969 |Now, I'm not kidding, I'm not teaching you ICT kill zones. Okay, I'm going to make it very, very simple. It's specific times a window, a window that begins in
153 +|152 |00:26:47,969 ~-~-> 00:26:57,209 |a window to ends, and then we're only focusing during the New York session. Okay, so it's not the New York kill zone. It's the new york session. So it
154 +|153 |00:26:57,209 ~-~-> 00:27:07,709 |allows a great deal of flexibility. And it allows you also to look for this pattern with specific envelopes and time where it begins and ends. If it doesn't
155 +|154 |00:27:07,709 ~-~-> 00:27:17,069 |occur, then you can't do anything with it. It may form later on, and you'll be like, Oh, well, I didn't see it, then I didn't take it in. So I'm mad. Don't be
156 +|155 |00:27:17,069 ~-~-> 00:27:30,239 |mad. You only want something that makes sense. And a time where you anticipate it occurring. This is discipline, this is focusing on a rule based premise. And
157 +|156 |00:27:30,269 ~-~-> 00:27:40,469 |following your price action model. This is the way professional traders do it. They don't get lacks in their rule rules and and say, Okay, well, it was good.
158 +|157 |00:27:40,469 ~-~-> 00:27:49,529 |Last 12 times I did it. But this time, it does feel lucky. And I'm just going to do things slightly different. They don't do that. Okay, generally, if you have a
159 +|158 |00:27:49,529 ~-~-> 00:27:59,519 |model or a trading plan, you want to stick to the rules. And that way, you're not going to be confused when things go awry. It's just simply a losing trade.
160 +|159 |00:27:59,819 ~-~-> 00:28:11,279 |And you're not going to be able to avoid every instance of that occurring. Everyone takes losses. I take all says, I have lost money, okay? You're going to
161 +|160 |00:28:11,279 ~-~-> 00:28:20,549 |lose money, you can't avoid it, it's absolutely going to happen. If you put live money in here, you're going to lose money. But if you learn how to do this,
162 +|161 |00:28:20,669 ~-~-> 00:28:31,019 |you're going to see how often this signature becomes very familiar in price action. And I'll leave that to you what that means on an individual basis. So
163 +|162 |00:28:31,049 ~-~-> 00:28:42,029 |price stays around and meanders up and down gyrates until we get to a specific time of the day, and this is going to be 8:30am to 11 o'clock in the morning,
164 +|163 |00:28:42,299 ~-~-> 00:28:55,649 |New York time, these are always new york times 830, New York time to 11 o'clock, New York time. Do not email me Why is this time this and not in New York kill
165 +|164 |00:28:55,649 ~-~-> 00:29:05,249 |zone times. I'm not teaching mentorship, I'm not teaching ICT kill zones. I'm teaching you a specific price action model with rule based ideas. And you work
166 +|165 |00:29:05,249 ~-~-> 00:29:14,249 |with just this. Okay? I'm not reinventing it because my stuff doesn't work anymore. Okay, that's not what I'm doing. I'm making a very specific window of
167 +|166 |00:29:14,249 ~-~-> 00:29:25,439 |time. And it's based on New York time. So if you want to see the time window, I have it set you can see right here, this is what I have in my time setting. So
168 +|167 |00:29:25,439 ~-~-> 00:29:36,629 |this is what you'd look for. And then your chart will look like mine is here. If you live a different timezone in a different country, then you need to figure
169 +|168 |00:29:36,629 ~-~-> 00:29:48,749 |out what that time is for you locally and where you live at. But this is the time that this pattern tends to form. Okay, now, the green shaded area in here
170 +|169 |00:29:48,779 ~-~-> 00:30:00,749 |is what everyone's familiar with in terms of my pattern and optimal trade entry. Optimal trade entry is the 62% retracement level to the 79% retracement level,
171 +|170 |00:30:01,139 ~-~-> 00:30:20,399 |and the mid point or 70.5 level you can see here. And these are the levels that are highlighted. Okay. So everything here is what I have on my fit. So these are
172 +|171 |00:30:20,399 ~-~-> 00:30:29,279 |the, that's the levels that you would have for your Fibonacci over here, okay, on trading view. So that way it's included, now they don't change, they're not
173 +|172 |00:30:29,309 ~-~-> 00:30:39,479 |flipping around and making it fit because I'm gonna have a winner every single day. That's not what I'm doing here. Okay. So again, all of this gyration is
174 +|173 |00:30:39,479 ~-~-> 00:30:40,949 |just simply working
175 +|174 |00:30:41,190 ~-~-> 00:30:49,830 |the Bank of orders that come and go around that mid figure level and above the previous day's high. Now, remember, earlier, I said one of two things are going
176 +|175 |00:30:49,830 ~-~-> 00:30:55,890 |to happen when you're bullish. And if it trades to the previous day's high one, it takes off, and it doesn't give you a chance to do anything and you missed
177 +|176 |00:30:55,890 ~-~-> 00:31:05,640 |that opportunity. Or it starts gyrate around the previous day's high. Okay, and you want to know what institutional price level you're working around the
178 +|177 |00:31:05,640 ~-~-> 00:31:16,260 |closest to it. Okay, so no worries when I say closest to the previous day's high. In this instance, it's 6450. And then you do an envelope of 10 pips above
179 +|178 |00:31:16,260 ~-~-> 00:31:28,320 |that, and 10 pips below it. And then you, you allow basically price to generate a trading range, until we get to this little sweet spot in time between 830 in
180 +|179 |00:31:28,320 ~-~-> 00:31:38,400 |the morning, why 830 for your notes, 830 there's usually a lot of news that comes out during the New York session. Okay, so the 30 new session, usually,
181 +|180 |00:31:38,400 ~-~-> 00:31:47,130 |it's like non farm payroll will come out some other kind of report. I don't off the top my head know what they are. And I don't really care to know what they
182 +|181 |00:31:47,130 ~-~-> 00:31:57,180 |are really, because I don't have any real specific affinity for one particular set of data, because they always coming in now in terms of what's relevant right
183 +|182 |00:31:57,180 ~-~-> 00:32:05,790 |now, what's the focus right now. Whereas at the time of this recording, employment numbers, or the lack of employment is the main focus right now,
184 +|183 |00:32:06,000 ~-~-> 00:32:19,050 |because everyone's at home, or without a job because of the illness that's been spreading. So when we get to 830, you want to see price, try to trade when
185 +|184 |00:32:19,050 ~-~-> 00:32:33,750 |you're bullish trade down into 62 to 79% retracement level on the fib. Now, that is your range determined from the low to the high once this previous day's highs
186 +|185 |00:32:33,750 ~-~-> 00:32:44,340 |broken. If this was a bearish scenario, we would just do the opposite of what's been seen here. Once the low of the previous day's low as broken, we would use a
187 +|186 |00:32:44,340 ~-~-> 00:32:53,880 |short term high to a short term low that would be below the previous day's low when you're bearish. But in this instance, obviously we're bullish. So we want
188 +|187 |00:32:53,880 ~-~-> 00:33:06,570 |to use a short term low to the short term high. So this range is the range prior to the formation of the New York session of 830. In the morning, New York time
189 +|188 |00:33:06,570 ~-~-> 00:33:18,450 |to 11 o'clock in the morning, New York time, why 11 o'clock, that's typically around when London clothes occurs. And usually it's also the time when the am
190 +|189 |00:33:18,450 ~-~-> 00:33:30,690 |session starts to wane. In the New York session and early lunch takers, you didn't leave the marketplace, that volume is no longer available in the through
191 +|190 |00:33:30,690 ~-~-> 00:33:39,600 |noon to one o'clock in the afternoon. That's generally the New York lunch and it can be quiet during those times. You only want to be looking for this pattern up
192 +|191 |00:33:39,600 ~-~-> 00:33:49,800 |to 11 o'clock in the morning. After 11 o'clock. It can form but it's something other than what I'm teaching here. And that's not important. The point is, is
193 +|192 |00:33:49,800 ~-~-> 00:33:58,140 |you want to see this pattern form during this time of day with the bias determined by what you determine when your daily chart Do you think the previous
194 +|193 |00:33:58,140 ~-~-> 00:34:04,020 |day's highs gonna be taken out or the previous day's low sticking out? And here's the thing, the beautiful, beautiful thing really is is many times you
195 +|194 |00:34:04,020 ~-~-> 00:34:13,020 |don't even need a bias. You just wait for the chart to show you what it's done. Does it take out the previous day's high or the previous day's low? At this time
196 +|195 |00:34:13,020 ~-~-> 00:34:26,070 |of day? What has it done while the here's Midnight in New York, and during the London session, it created a run higher. So there's been a lot of buying taking
197 +|196 |00:34:26,070 ~-~-> 00:34:34,470 |place to get above the previous day's high does it create an optimal trade entry so the low to the high that's what I had the fib drawn on, even though it's
198 +|197 |00:34:34,560 ~-~-> 00:34:47,580 |drugged out to here that way, you can see all the levels how they line up nicely with time. So we have two components here we have the element of time. And we
199 +|198 |00:34:47,580 ~-~-> 00:35:03,690 |have the element of price. So price is the level determined by the fib relative to its high and low of that range. Time is static This is always static, it does
200 +|199 |00:35:03,690 ~-~-> 00:35:13,710 |not change, it does not deviate, it's 830 in the morning, New York time to 11 o'clock, it does not change. So the easy way to do that is simply just get a
201 +|200 |00:35:14,970 ~-~-> 00:35:30,150 |horizontal, I'm sorry, vertical line and put it at these specific times. If you do that,
202 +|201 |00:35:40,710 ~-~-> 00:35:53,730 |you know, in between these two vertical lines, you don't need to have a guess as to when something's going to form, you know, when when price enters this area
203 +|202 |00:35:53,730 ~-~-> 00:36:02,340 |between the first vertical line up to the second vertical line, you're anticipating an optimal trade entry to form. So that's the expectation that
204 +|203 |00:36:02,340 ~-~-> 00:36:13,590 |you'll have by having your vertical lines on there. So you don't right now have a whole lot of business on this chart. But you can see clearly that this is what
205 +|204 |00:36:13,590 ~-~-> 00:36:24,870 |the time element would be to this pattern. Price is always going to be between 62% initiation level and the 75% tracing level, which is 79 here, and 62 is just
206 +|205 |00:36:24,930 ~-~-> 00:36:38,550 |underneath that 50 level. Okay, so 6450 is this black line here. So it cleans it up a little bit. Okay, as you can see 60 to 79 and 70.5, which is the sweet spot
207 +|206 |00:36:38,550 ~-~-> 00:36:51,720 |or optimal trade entry. Okay? When price drops down into this level, you can be a buyer on paper or demo. And I'm not going to save you on that, because I'm not
208 +|207 |00:36:51,720 ~-~-> 00:37:00,210 |licensed to do that. But we're studying price action. And you could be a buyer here with the expectation that we would see it expand. Now I'll get up to here
209 +|208 |00:37:00,210 ~-~-> 00:37:09,570 |and talk about these levels in a minute. But right now, this low is where your stop would have to be below that. Okay, so the lowest candle. What we're
210 +|209 |00:37:09,600 ~-~-> 00:37:23,580 |anchoring to fit on the low is 6434 and seven for that. So you can do a stop at 6430. Okay, so there's your stop 6430 darker colors in Houston see. So, your
211 +|210 |00:37:23,580 ~-~-> 00:37:38,190 |stop could be at 6430. So your stock could be at 6430. Your entry could be at the 62% retracement level is 6449 and seven bets. So basically we can just
212 +|211 |00:37:38,190 ~-~-> 00:37:49,530 |simply say, if retraces 6450 you can be a buyer. Okay, because you're gonna look for the institutional level and the lower you get down into the 700 retracement
213 +|212 |00:37:49,530 ~-~-> 00:37:58,170 |level, the less likely you're going to get your fill because we demand 79% retracement level here, you may or may not get that with the spread. Okay, so
214 +|213 |00:37:58,320 ~-~-> 00:38:07,680 |what I like to use is 60% trace level and then maybe factor in the spread there. But if you're using 62 generally it's a little bit more forgiving. Because you
215 +|214 |00:38:07,680 ~-~-> 00:38:17,580 |don't need to add always in my in my experience using 60% tracing level, you can absolutely get it because you're going to dip even further generally into the 70
216 +|215 |00:38:17,580 ~-~-> 00:38:27,930 |and a half. And sometimes it is sometimes to trade some level but that's our range. Price. And in this is our time window. So the fact that we're looking at
217 +|216 |00:38:28,980 ~-~-> 00:38:39,060 |this specific area, if we use a limit order at 62% retracement level, if it trades below that you're filled, your stock would be placed here. And then using
218 +|217 |00:38:39,060 ~-~-> 00:38:56,430 |the fib levels. Point 54.5 negative 0.5. Rather, this is an area where you take first profit if it allows you if it allows you 15 pips or more. Okay, so there's
219 +|218 |00:38:56,430 ~-~-> 00:39:08,760 |your rules, you want to take 15 pips at first scout exit at the negative 0.5 level, and then the negative one level, which would be one standard deviation of
220 +|219 |00:39:08,760 ~-~-> 00:39:18,600 |the range that you calculate for your fib. So know what you're drawing your load to your high here, that range here if it's duplicated, and basically projected
221 +|220 |00:39:18,630 ~-~-> 00:39:31,470 |higher, a measured move of that would be this level up here. Now since we have that, since it's suggesting here in the fib, it's 0.6513 and five pipettes we
222 +|221 |00:39:31,470 ~-~-> 00:39:41,670 |want the highest degree of probability for our levels for scaling and taking profits. This would be an area where we can take profits again. So first scaling
223 +|222 |00:39:41,670 ~-~-> 00:39:54,360 |would be here at negative 0.5. But the minimum expectation is 15 pips, so you have to be able to get 15 pips, you can't get 15 pips here, but you can get it
224 +|223 |00:39:54,420 ~-~-> 00:40:06,270 |here or more than this is where you would take first profit. Okay, here is just One level we read expect it. In this instance, here, we can see at 6450 or so
225 +|224 |00:40:06,600 ~-~-> 00:40:17,670 |getting out at 6493. That's 43 pips almost 43 pips of potential profit at first scaling.
226 +|225 |00:40:19,529 ~-~-> 00:40:31,109 |The next level up here would be 6513, and five, but it may not get to these levels. Again, Fibonacci is not the answer to everything in the marketplace.
227 +|226 |00:40:31,499 ~-~-> 00:40:42,809 |Even though this is giving you a general rule, principle and in theory, and it's going to get you very close to some really sweet setups do not demand that the
228 +|227 |00:40:42,809 ~-~-> 00:40:52,859 |price reaches to these levels for your targets. What I do, this is how I teach my students as well, if this is the fib level that we're looking for, okay, in
229 +|228 |00:40:52,859 ~-~-> 00:41:08,879 |other words, if your calculations suggest that this is what the range level for negative one would be, on the projection 6510 is the nearest 10 level, without
230 +|229 |00:41:08,879 ~-~-> 00:41:18,089 |getting up to that level, so what we're doing is we're rounding down to the next 10 level. Okay, so wherever this level would be, say it was 15, it would still
231 +|230 |00:41:18,089 ~-~-> 00:41:30,119 |be 6510. For me, so I'd be looking to take profit, or scaling out here. If this level was at 15, or more pips, this would be my first scaling from my entry down
232 +|231 |00:41:30,119 ~-~-> 00:41:48,059 |here at 6450. So 6458, was my limit on entry for general principles, and the stop would be 6430. So it's a 20 PIP stop. And, again, forget risk reward, we're
233 +|232 |00:41:48,059 ~-~-> 00:41:55,349 |not teaching that don't think it has to be three to one, it has to be five to one, you know, if it's one to one, it's still good. In my opinion, it's good.
234 +|233 |00:41:55,349 ~-~-> 00:42:01,709 |Because if you have a setup that repeats over and over and over again, very frequently, I understand and accept the fact I'm not going to be a winner on
235 +|234 |00:42:01,709 ~-~-> 00:42:12,119 |every single trade, I'm going to take losses. But if I have a system that doesn't require me to spend a lot of money when I'm losing, but I do have a high
236 +|235 |00:42:12,119 ~-~-> 00:42:21,809 |frequency of accuracy. And if you look at this, you'll determine if this does or doesn't have a lot of accuracy. But nonetheless, by looking at and studying it.
237 +|236 |00:42:22,589 ~-~-> 00:42:32,429 |With this logic behind it, it's not the fib that's creating it. The logic is we've traded above the previous day's high in a relatively bullish scenario. So
238 +|237 |00:42:32,849 ~-~-> 00:42:42,329 |we're lending well on this example for bias, but it doesn't require bias. If you blow out the previous day's high or below the previous day's low, you still look
239 +|238 |00:42:42,329 ~-~-> 00:42:49,979 |for these general theories to pan out. And again, it's not about right or wrong, you're not supposed to be taking live trades with this, I'm not enticing you to
240 +|239 |00:42:49,979 ~-~-> 00:42:59,429 |take trades. With this. I'm teaching you how to read the tape, how to read the price action, and forecast setups that will repeat if you know what you're
241 +|240 |00:42:59,429 ~-~-> 00:43:11,669 |looking for. So first profit here we could take obviously at 93 and eight bit that's that's 40 plus pips, so that definitely will meet the minimum criteria of
242 +|241 |00:43:11,669 ~-~-> 00:43:22,169 |15 pips before for scaling. And then you can get another scaling out at 6510, which is rounded down to from the fib level here, it can hit this fib level, or
243 +|242 |00:43:22,169 ~-~-> 00:43:32,339 |can go through it a little bit more. And that's fine. This is where you would take your next level of profit taking. If you can get first scaling, where it's
244 +|243 |00:43:32,339 ~-~-> 00:43:41,309 |15 pips or more, you want to start reducing your your risk on your stop till about midpoint of the range that you identified here. Because if it comes back
245 +|244 |00:43:41,309 ~-~-> 00:43:49,529 |down into that, it's generally not a good idea to hold on to the trade and let let it stop you out. You've taken something out partial, and then you reduce
246 +|245 |00:43:49,529 ~-~-> 00:43:57,509 |your risk. And then if it comes back down stops, yeah, you've taken something off the bone, you got a bite of flesh. And if it comes back down, you didn't get
247 +|246 |00:43:57,509 ~-~-> 00:44:06,779 |stopped out with a loss. That's in theory, what we're saying here, and if it gets second scaling, if you ever get a second scaling, you have to be above your
248 +|247 |00:44:06,779 ~-~-> 00:44:16,919 |entry point, at least two or three pips and just let it go. Okay, so that way you've gotten to pieces of meat off the bone. And now you're in a position where
249 +|248 |00:44:16,919 ~-~-> 00:44:24,659 |your stop should in theory protect you from taking a loss on the remaining balance. It does not mean you can't take a loss because you can as long as the
250 +|249 |00:44:24,659 ~-~-> 00:44:36,149 |trades open, you are inviting risk and the market can always get down or above your stop loss in that's this life. Okay, and a lot of people don't realize that
251 +|250 |00:44:36,359 ~-~-> 00:44:45,149 |they're listening to people online. Oh, my stops gonna do my job. Nope, not always exist. That's the best case scenario. And sometimes the best case
252 +|251 |00:44:45,149 ~-~-> 00:44:52,619 |scenario doesn't work out. So we can see how price eventually makes a run up into 6510.
253 +|252 |00:44:54,990 ~-~-> 00:45:06,240 |Right there gives us a nice little opportunity to scale off 10 pips. 6510 which is three and a half pips below where the fib projected to. But that does not
254 +|253 |00:45:06,240 ~-~-> 00:45:14,580 |mean collapse the trade. Okay, it doesn't mean get out of the trade leave a little bit on. So the again, the assumption is when you're paper trading this or
255 +|254 |00:45:14,580 ~-~-> 00:45:23,490 |if you're demonstrating it, you want to use a lot size that allows you to have multiple, in my case, I like to look for leverage that allows me to take three
256 +|255 |00:45:23,490 ~-~-> 00:45:34,980 |partials and in, give me something to let run, that means I can get four stages of scaling out of that position. Not all positions will allow me to do that. And
257 +|256 |00:45:34,980 ~-~-> 00:45:44,250 |here's the thing, if it doesn't let me do that, I don't take that trade. So I've given you something bonus in here, where it helps me determine with a decision
258 +|257 |00:45:44,250 ~-~-> 00:45:55,590 |based approach process and, and protocols that leads to me getting into a trade, there's lots of times I see moves coming. And I can see them for me, I can see
259 +|258 |00:45:55,590 ~-~-> 00:46:03,180 |exactly when they're going to turn exactly where they're likely to go. But I'm not in them, because they don't meet all the criteria that I demand of my
260 +|259 |00:46:03,180 ~-~-> 00:46:13,110 |setups. So there's nothing wrong with being very, very dependent on your rules, and only executing in that it's actually a good thing. It builds discipline, it
261 +|260 |00:46:13,110 ~-~-> 00:46:23,940 |builds maturity as a trader, and you will not be shaken by a lot of the things that a trader that doesn't have rule based ideas that sticks to them very rigid,
262 +|261 |00:46:24,720 ~-~-> 00:46:35,340 |will, they will generally be encountering a lot more stress, anxiety, because they're always guessing as to what they should be doing. versus this is what I'm
263 +|262 |00:46:35,340 ~-~-> 00:46:42,090 |doing. This is the time of day I'm doing and I'm looking forward to go long, I'm looking forward to go short. If it doesn't fit the criteria, you don't do
264 +|263 |00:46:42,150 ~-~-> 00:46:54,600 |anything. And you let it go. And you'll see over weeks of time doing that. You'll, in theory, protect yourself from taking from taking on more risk than
265 +|264 |00:46:54,600 ~-~-> 00:47:05,130 |you're supposed to, or should, and you're gonna be working towards a perception of price action that is going to be appreciated by you. And your bottom line in
266 +|265 |00:47:05,130 ~-~-> 00:47:13,260 |your results will show that, but again, you're going to take losses, you're going to get it wrong. This is not a magic recipe for always winning trading,
267 +|266 |00:47:13,380 ~-~-> 00:47:24,780 |okay, it's just something to start with. It's rule based, and you stick with it come hell or high water. You do this for weeks, and you see if it pans out and
268 +|267 |00:47:24,780 ~-~-> 00:47:37,110 |shows any kind of merit. And I promise you, if you do this, you're going to see it. So the market comes up to that 6510 level has a reaction retraces back down
269 +|268 |00:47:37,110 ~-~-> 00:47:46,350 |into some old order flow. And we want to keep something in and we want to keep a liter in water, see if we can catch a runner. And the Fed will hopefully give us
270 +|269 |00:47:46,350 ~-~-> 00:48:02,430 |another level of importance and the scrunch it down. Okay, we have 6552 and nine pipettes. Okay, so that's the next level, which would be this range, two times.
271 +|270 |00:48:02,430 ~-~-> 00:48:11,160 |That's one of it here. And then the second one here. So this is two standard deviations. This level in here. Generally, if for day trading, if you ever get
272 +|271 |00:48:11,160 ~-~-> 00:48:21,120 |an explosive move, I want to be out at this point here and I'm content with if it runs more, I don't care. I'm not a long term position trader. And it could
273 +|272 |00:48:21,120 ~-~-> 00:48:29,910 |continue for six months. And everybody can say, Yeah, but you missed this it ICT index, I'm not interested, I could care less. I want consistency. I want
274 +|273 |00:48:29,910 ~-~-> 00:48:39,960 |continuity. And I want the ability to be able to see these things repeat over and over and over again. trades, okay? For a neophyte are mysterious. They sneak
275 +|274 |00:48:39,960 ~-~-> 00:48:47,520 |up on them, they surprise them. They're like, well, we just happen. You ever noticed that when you get online, and you see people on Twitter, Instagram,
276 +|275 |00:48:48,840 ~-~-> 00:48:58,530 |whatever, okay. Any of these chat room things, these these trade rooms, they're all like surprised, whoa, what happened with the sewing so and now they're only
277 +|276 |00:48:58,530 ~-~-> 00:49:10,590 |interested in that pair or that Mark has moved. You are not going to be surprised. You're going to be anticipating, okay, you're gonna be anticipating.
278 +|277 |00:49:10,830 ~-~-> 00:49:19,650 |And by anticipating things occurring around a specific time of day around a rule based idea and a pattern that you're familiar with, and seeing over and over
279 +|278 |00:49:19,650 ~-~-> 00:49:28,860 |again. Now let's go back to that analogy about buying a car that you have a lot of affinity for. It's a sports car or it's a luxury car. You like this car, you
280 +|279 |00:49:28,860 ~-~-> 00:49:38,430 |can't imagine being anything else but the driver of that car and you buy it you bring it home. Remember, generally when you look around very soon after taking
281 +|280 |00:49:38,430 ~-~-> 00:49:42,450 |it home, you will start seeing that car more because you have
282 +|281 |00:49:43,740 ~-~-> 00:49:55,950 |activated your filter in your your attention to alette to let these cars get your attention. Okay, and that's what you're doing. You're teaching yourself to
283 +|282 |00:49:55,950 ~-~-> 00:50:06,690 |see this pattern over and over and over again in price action and By default, what happens is, when you start seeing it form live with everything on your
284 +|283 |00:50:06,690 ~-~-> 00:50:13,470 |chart annotating the time of day, what you're anticipating in terms of the direction it's supposed to expand up or down relative to the market being
285 +|284 |00:50:13,470 ~-~-> 00:50:23,820 |bullish or bearish relative to it running the previous day's high or low. You will see the pattern form live. And you'll know what it looks like. And you'll
286 +|285 |00:50:23,820 ~-~-> 00:50:34,800 |trust what you have practice in hindsight, weeks and months of it. And now you when you watch price action live, it'll be like, I see it, it's right there. And
287 +|286 |00:50:34,800 ~-~-> 00:50:47,640 |you won't be surprised, you won't be taken back like wow, where did that this come from? Price is algorithmic. It repeats every single day on elements of time
288 +|287 |00:50:47,940 ~-~-> 00:50:59,610 |and price. It does not work on magic Fibonacci, the Fibonacci is just a way for me to frame the context, the use this pattern, okay, I didn't reinvent
289 +|288 |00:50:59,670 ~-~-> 00:51:10,230 |Fibonacci, I'm not trying to claim claim the three quarter pullback of the Fibonacci is mine, the logic of using the fib with time and the element of
290 +|289 |00:51:10,230 ~-~-> 00:51:18,900 |market structure that's me, that's my that's why it's called optimal trade entry. ot is just an abbreviation of those three words. What makes it optimal is
291 +|290 |00:51:18,900 ~-~-> 00:51:28,680 |it's occurring at a time of day when the market will likely spool in spread out in one particular direction over the other. So it's more inclined to go higher
292 +|291 |00:51:28,710 ~-~-> 00:51:37,590 |or lower relative to the things that I'm showing you here. Alright, so anyway, so we have two opportunities here for scaling one, two, and this is the target
293 +|292 |00:51:37,590 ~-~-> 00:51:48,690 |where you would want to get out at the market trading right now. It's just about midpoint of that in here. Now you can use this midpoint, which I don't have a
294 +|293 |00:51:48,690 ~-~-> 00:52:01,830 |fib, if you want to add a fib for that level, it would be negative 1.0. And that would give you a line right here, I just don't care to have it. In this point
295 +|294 |00:52:02,340 ~-~-> 00:52:14,880 |where the market is running, you want to have your stop loss below some point of support or structure that would Yes, make your stop be part of a pool of sell
296 +|295 |00:52:14,880 ~-~-> 00:52:24,240 |side liquidity or where the Bank of sell stops would be. But you have already in theory, taking one or two portions of profit out. And your stock would just be
297 +|296 |00:52:24,390 ~-~-> 00:52:33,810 |above breakeven. So you want to look at where you are in terms of the current market structure. We had a run here, it retraced and then rallied up multiple
298 +|297 |00:52:33,810 ~-~-> 00:52:44,520 |terms lower, so we retrace multiple times. I like the idea of moving stop below here. Not below here. Okay, not below here. Why? Because this one, we already
299 +|298 |00:52:44,520 ~-~-> 00:52:53,610 |had a run below these lows here. And then we broke to new highs. We had a retracement to this low and retracement to this low, which is basically the
300 +|299 |00:52:53,610 ~-~-> 00:53:03,390 |relative equal lows. So it could still get below here, it could break down, hit that and still go higher, longer term. And I would miss out on that move, just
301 +|300 |00:53:03,390 ~-~-> 00:53:14,880 |trying to choke the trade with a really, really tight stop loss, which is not advisable. So we have this low that's much more appropriate for trailing stop
302 +|301 |00:53:14,880 ~-~-> 00:53:26,040 |loss and not jamming it up too tight and not giving the market room to breathe, especially because we're tracing this on a five minute chart. So the idea again,
303 +|302 |00:53:26,040 ~-~-> 00:53:34,680 |is we're looking for day trades. And not hold this thing for four weeks, not even for multiple days. But this is how you would manage your trade. So if all
304 +|303 |00:53:34,680 ~-~-> 00:53:46,770 |this occurred inside of the same trading day or same few hours, say it move say all this movement here occurred in a little bit less time. The same thing I'm
305 +|304 |00:53:46,770 ~-~-> 00:53:54,900 |showing you here in terms of when you would move your stop would be the same thing. This is we have a reaction and we have two higher reactions. You don't
306 +|305 |00:53:54,900 ~-~-> 00:54:04,500 |want to put your stop loss at the nearest area where stops would be everybody else has their stop loss below this low or here. Mine would be down here. And I
307 +|306 |00:54:04,500 ~-~-> 00:54:14,880 |already banked two positions or two scalings. Okay, so if it gets to 6550 and nine pit bets, you would collapse the entire trade and be done and be content
308 +|307 |00:54:14,880 ~-~-> 00:54:26,850 |with that. So you would be seeing basically getting around 100 pips movement from this particular trade with three partials or the final collapse here. Now
309 +|308 |00:54:26,880 ~-~-> 00:54:33,150 |if this level was higher up, okay, so in other words if you weren't getting this range here,
310 +|309 |00:54:34,590 ~-~-> 00:54:44,490 |and it allowed for 100 pips, but 100 pips occurs before the two standard deviations of the initial range to create your fib. So this is your range. This
311 +|310 |00:54:44,490 ~-~-> 00:54:54,450 |is one standard deviation over here. And then the other standard deviation would be here. And if this level is above 100, pips, okay, you know what's if this
312 +|311 |00:54:54,660 ~-~-> 00:55:09,480 |range here was like 6562, nine, okay, that would be 110 pips from your entry, you would take a partial at 100 pips flat, simply just take 100 pips bank
313 +|312 |00:55:09,480 ~-~-> 00:55:16,710 |something there as well. So there's your rules, it's very simple. those rules I've given you if you missed it and he weren't really taking notes, go back and
314 +|313 |00:55:16,710 ~-~-> 00:55:27,060 |watch the video again and listen very carefully, because I gave you very specific criteria about when to move a stop what entry price, you would look for
315 +|314 |00:55:27,120 ~-~-> 00:55:37,650 |where your stop loss would be, and where you take partials. And when you graduate that stop, and what you avoid doing when moving the stock not trying to
316 +|315 |00:55:37,650 ~-~-> 00:55:46,710 |choke the trade out by having a stop loss, you know, right under here, or right under here, or because this looks like it's support, you know, there you go put
317 +|316 |00:55:46,710 ~-~-> 00:55:55,860 |your stop loss there. There's a lot of people, it's in this period now they have sell stops right below here. They may have been lucky they went long here, maybe
318 +|317 |00:55:55,860 ~-~-> 00:56:04,380 |they went in here, or they bought here and is routed out because they don't use a stop loss. But now they want to put a stop loss in their thinking here. Okay,
319 +|318 |00:56:04,380 ~-~-> 00:56:14,430 |so I use market structure to help me manage a trade and market structure you can learn that it's on my YouTube channel as well. But this low here, I want to put
320 +|319 |00:56:14,430 ~-~-> 00:56:27,150 |my stop at this low and not something ultra super tight because just normal gyrations okay or quick, sudden retracement lower and still be viable for the
321 +|320 |00:56:27,150 ~-~-> 00:56:35,730 |trade going higher, would knock you out prematurely and you would miss the opportunity of allowing yourself taking out 100 pips or where the second
322 +|321 |00:56:35,730 ~-~-> 00:56:44,220 |standard deviation would be for your ultimate target. Alright. So hopefully you guys got something from this, I'll try to give you something every single day it
323 +|322 |00:56:44,220 ~-~-> 00:56:53,970 |will not be this in depth. Okay, so the rules have been applied and shared with you in this video. And I'll always refer back to this video, when there's any
324 +|323 |00:56:53,970 ~-~-> 00:57:04,770 |discussion about when stops removed, how you take partials, and what the general principle of this pattern is, okay? It'll be a five minute or less many times,
325 +|324 |00:57:04,770 ~-~-> 00:57:13,020 |it'll probably be less than four minutes because this is going to be me saying, okay, here's your chart. These are the levels and then here's what it looks
326 +|325 |00:57:13,020 ~-~-> 00:57:21,900 |like. It'll be just all the annotation on the chart. And it'll be me saying, take care, God bless and good luck in the trading. And with that, I'm gonna
327 +|326 |00:57:21,900 ~-~-> 00:57:25,200 |close this one and do that very thing. wish good luck and good trading.
4 4  
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7 -if you'd like me, the present conditions around the world
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11 -right now because of the illness that's been plaguing
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15 -everyone. I thought of everyone on the YouTube channel that
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19 -has supported this channel and maybe has been longing for
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23 -some inspiration, maybe some kind of a nudge by goodwill
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27 -ICT. So I came here with the expectation that I would give
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31 -the next four weeks, or 20 trading days, just a snapshot
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35 -real quick, kind of like train your eye to see the optimal
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39 -trade entry, and its many formations and subtle nuances. Now
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43 -it's not a signal service. So that way you guys didn't like
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47 -to do the thumbs down button which I love that
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51 -the
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55 -the content I'm going to be providing you here is just
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59 -really to activate your reticular activating system. That
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63 -means train your eye to see what it looks like and how it
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67 -tends to form. Okay, so for some of you that are very versed
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71 -in my content and old stuff in the classic ICT library, the
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75 -optimal trade entry is a really an old staple now It's not
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79 -important for me to go through the entire optimal trade
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83 -entry, and all the levels and all that stuff, you'll see
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87 -what they are obviously in the examples. But if you have not
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91 -watched the optimal trade entry or OTP primer video, you can
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95 -do a search on YouTube and you'll see it pops up, watch that
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99 -video and kind of gives you a calling a foundation up, how
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103 -to set your foot on a business. So if we are looking at the
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107 -next 20 days, just know that these videos are not intended
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111 -to be very, very long. I want to try to get right to the
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115 -point but this is the first one in a series kind of like one
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119 -take a little bit of liberty to remind the individuals that
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123 -are probably just new to me, or the hardline critics that
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127 -just can't stand me.
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131 -I love you to the again, the
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135 -premise behind all this is again, not to say here's what
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139 -here's what tomorrow gonna do next. Okay, that's not what
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143 -I'm doing here. Okay? What I'm showing you is how you go
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147 -into your charts and annotate them. Look for the optimal
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151 -trade entry, because this is how I trained myself to see it.
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155 -Back in the 1990s. I worked just like every one of you. And
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159 -I came home. And I had to look at charts and look at moves
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163 -that I missed. So I taught myself to look for specific
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167 -patterns and signatures and price action over a period of
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171 -years. And because of that, and seeing it over and over and
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175 -over again, it builds in a pseudo experience. In other
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179 -words, I at the time was not able to see these formations
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183 -form live. So I would go back and look at my charts and
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187 -annotate them and capacity, as if I were really there
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191 -watching it and annotating the chart as if it was something
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195 -that watched and witnessed life. Now, I'm not going to ask
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199 -annotate the charts to degree that I personally would do it.
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203 -But I'm going to provide you a kind of a baseline to work
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207 -with. And you can dress up your own charts and annotations
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211 -and draw a great deal of attention to other things that may
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215 -be important to you. Okay, or your unique price action
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219 -model. I'm not teaching bias. I'm not teaching how to find
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223 -the right order blocks, okay, I'm not doing all that. It's
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227 -just again, to train your eye to see a specific phenomenon.
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231 -It takes place in the marketplace. And again, some of you're
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235 -gonna say, Oh, this is something that everybody knows about.
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239 -It's a Fibonacci retracement. ICT didn't invent it. And it's
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243 -this and it's that, okay, if that's your attitude, that's
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247 -how you think of it. So you're going into this video, I'm
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251 -really gonna waste your time. And just know that if you're
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255 -that person, I enjoy that. For everyone else that wants to
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259 -really learn how to do something. I want you to see what
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263 -it's like over and over and over again over a period of four
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267 -weeks. Okay? So, if anything is studied for a month,
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271 -basically, it really starts to take root in number one, your
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275 -memory and your identification, okay? The faculties that
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279 -each of us have to see something that is important to us. It
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283 -has to be activated. Okay, and real short and sweet. The
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287 -common example I always use is if you buy a car, and you've
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291 -looked forward to buying this car, once you buy it, you take
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295 -it home, and the very next day you're driving it, it might
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299 -be the day you come home with it, you start noticing that a
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303 -lot of other people seem to have that same car. And it's not
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307 -that more people bought it because you did. But your
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311 -reticular activating system has been keyed up, okay to
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315 -filter that car because it's meaningful to you. Let's So, by
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319 -me showing you examples of this particular pattern, and the
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323 -signatures that generally repeat with it, you're going to
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327 -see how you can start doing this on your own. And then if
328 -
329 -83
330 -00:06:12,660 ~-~-> 00:06:17,490
331 -you have the ability to watch it live, you'll see many times
332 -
333 -84
334 -00:06:17,520 ~-~-> 00:06:20,850
335 -its formation, and then you'll grow in your confidence to
336 -
337 -85
338 -00:06:21,090 ~-~-> 00:06:26,400
339 -paper, trade it, then demo trade it and if you feel inclined
340 -
341 -86
342 -00:06:26,400 ~-~-> 00:06:30,780
343 -to do so, if you shown six months of consistency, you want
344 -
345 -87
346 -00:06:30,780 ~-~-> 00:06:34,020
347 -to dabble with a very, very small amount of money, live
348 -
349 -88
350 -00:06:34,020 ~-~-> 00:06:37,770
351 -money, nothing big, nothing grandiose. This smallest amount
352 -
353 -89
354 -00:06:37,770 ~-~-> 00:06:39,510
355 -of money you can open up an account with and then trade the
356 -
357 -90
358 -00:06:39,510 ~-~-> 00:06:44,190
359 -smallest little lot sizes possible. And then again, just
360 -
361 -91
362 -00:06:44,190 ~-~-> 00:06:47,250
363 -follow the same protocols and procedures that would
364 -
365 -92
366 -00:06:47,250 ~-~-> 00:06:51,150
367 -otherwise lead to your trust. in finding in price action,
368 -
369 -93
370 -00:06:51,360 ~-~-> 00:06:53,910
371 -you determine on your own I don't ever tell him I say okay,
372 -
373 -94
374 -00:06:53,910 ~-~-> 00:06:57,120
375 -go trade with live money, because there's a lot of
376 -
377 -95
378 -00:06:57,150 ~-~-> 00:07:00,000
379 -responsibility in that. And legally, I can't tell you to do
380 -
381 -96
382 -00:07:00,750 ~-~-> 00:07:04,380
383 -But I can talk about price action, and I can talk about the
384 -
385 -97
386 -00:07:04,380 ~-~-> 00:07:07,020
387 -signatures that repeat themselves. And I only want to talk
388 -
389 -98
390 -00:07:07,020 ~-~-> 00:07:11,880
391 -about the optimal trade entry. Okay? So please don't try to
392 -
393 -99
394 -00:07:11,880 ~-~-> 00:07:14,130
395 -reach out to me and say, Hey, can you talk about this? Can
396 -
397 -100
398 -00:07:14,130 ~-~-> 00:07:17,940
399 -you do that? I'm only going to be doing just this. Okay? So
400 -
401 -101
402 -00:07:18,030 ~-~-> 00:07:22,050
403 -again, every video, I'm going to try to aim at five minutes
404 -
405 -102
406 -00:07:22,080 ~-~-> 00:07:24,570
407 -or less, but this one just has to be it's a little bit long
408 -
409 -103
410 -00:07:24,570 ~-~-> 00:07:27,240
411 -winded because I have to have a preamble to set the stage
412 -
413 -104
414 -00:07:27,240 ~-~-> 00:07:30,360
415 -for what it is I'm doing so that way, no one can say you
416 -
417 -105
418 -00:07:30,360 ~-~-> 00:07:33,630
419 -said it was going to be this and it's not. Okay. So, if
420 -
421 -106
422 -00:07:33,630 ~-~-> 00:07:36,120
423 -you're serious about understanding the things that I'm
424 -
425 -107
426 -00:07:36,960 ~-~-> 00:07:40,410
427 -making available to you on this YouTube channel, one of the
428 -
429 -108
430 -00:07:40,440 ~-~-> 00:07:43,410
431 -hallmarks is the optimal trade entry. So again, watch the
432 -
433 -109
434 -00:07:43,440 ~-~-> 00:07:46,020
435 -optimal trade entry primer video first,
436 -
437 -110
438 -00:07:46,140 ~-~-> 00:07:49,410
439 -and then come back to this series. Okay, so, again, it'll be
440 -
441 -111
442 -00:07:49,620 ~-~-> 00:07:53,460
443 -20 videos in the series, and I'll try to create a playlist
444 -
445 -112
446 -00:07:53,460 ~-~-> 00:07:55,770
447 -that way you guys can find it very easily, and we'll go
448 -
449 -113
450 -00:07:55,770 ~-~-> 00:08:00,720
451 -through it but tonight as the pilot episode We're looking at
452 -
453 -114
454 -00:08:00,720 ~-~-> 00:08:04,620
455 -the Australian dollar. Okay, so I'm using trading view.com
456 -
457 -115
458 -00:08:04,650 ~-~-> 00:08:09,750
459 -as the resource in platform. And the data I'm pulling up is
460 -
461 -116
462 -00:08:09,840 ~-~-> 00:08:14,610
463 -the Australian dollar versus the US dollar forex.com. So
464 -
465 -117
466 -00:08:14,610 ~-~-> 00:08:17,460
467 -whenever you put this symbol over here, it's going to give
468 -
469 -118
470 -00:08:17,460 ~-~-> 00:08:23,550
471 -you a sort of different data feeds. And I always use the
472 -
473 -119
474 -00:08:23,550 ~-~-> 00:08:27,060
475 -Forex calm so that way you guys can see the the price action
476 -
477 -120
478 -00:08:27,060 ~-~-> 00:08:31,080
479 -the same way as I'm President presenting it here. Alright,
480 -
481 -121
482 -00:08:31,080 ~-~-> 00:08:36,060
483 -so when we look at the optimal trade entry, and we look at
484 -
485 -122
486 -00:08:36,060 ~-~-> 00:08:40,560
487 -its formation on a day by day daily basis. Now, again, I'm
488 -
489 -123
490 -00:08:40,560 ~-~-> 00:08:49,170
491 -not trying to push or entice or convince that you should be
492 -
493 -124
494 -00:08:49,170 ~-~-> 00:08:52,620
495 -day trading every single day. Okay, that's not what this is.
496 -
497 -125
498 -00:08:53,580 ~-~-> 00:08:58,620
499 -I can, but I've been doing this for almost three decades. So
500 -
501 -126
502 -00:08:59,250 ~-~-> 00:09:03,210
503 -many of you are very, very new. And there's nothing wrong
504 -
505 -127
506 -00:09:03,210 ~-~-> 00:09:06,570
507 -with that. But you cannot speed this process up. It has to
508 -
509 -128
510 -00:09:06,570 ~-~-> 00:09:10,680
511 -be done methodically has to be done in a way where it just
512 -
513 -129
514 -00:09:10,920 ~-~-> 00:09:14,790
515 -allows for development and not rush, you can't rush it.
516 -
517 -130
518 -00:09:15,000 ~-~-> 00:09:20,970
519 -Okay, so if you look at this particular currency pair, some
520 -
521 -131
522 -00:09:20,970 ~-~-> 00:09:23,880
523 -of you that are familiar with my concepts right away know
524 -
525 -132
526 -00:09:24,210 ~-~-> 00:09:28,020
527 -that there is the sensitivity off of this low here, and this
528 -
529 -133
530 -00:09:28,020 ~-~-> 00:09:31,740
531 -low here is inside of these two consecutive down close
532 -
533 -134
534 -00:09:31,740 ~-~-> 00:09:35,100
535 -candles, that's your order block. So it's going to be
536 -
537 -135
538 -00:09:35,100 ~-~-> 00:09:38,880
539 -important for the discussion just simply because of this
540 -
541 -136
542 -00:09:38,880 ~-~-> 00:09:41,910
543 -video, but every video after this, I'm only going to go
544 -
545 -137
546 -00:09:41,910 ~-~-> 00:09:45,930
547 -right into the day and reference the previous day's range
548 -
549 -138
550 -00:09:46,200 ~-~-> 00:09:49,560
551 -and show you how the optimal trade entry form. So if you
552 -
553 -139
554 -00:09:49,560 ~-~-> 00:09:55,290
555 -learn this, okay if you grow in comfort and identifying this
556 -
557 -140
558 -00:09:55,680 ~-~-> 00:09:59,310
559 -over a period of time, what period of time minimum four
560 -
561 -141
562 -00:09:59,310 ~-~-> 00:10:02,070
563 -weeks daily Study. Now that doesn't mean for which you
564 -
565 -142
566 -00:10:02,070 ~-~-> 00:10:05,220
567 -graduate. Now your optimal trade entry Master, it just means
568 -
569 -143
570 -00:10:05,220 ~-~-> 00:10:07,800
571 -that you're very familiar with it. And you have a little bit
572 -
573 -144
574 -00:10:07,800 ~-~-> 00:10:13,110
575 -of a sample size of experience. You want to build on that,
576 -
577 -145
578 -00:10:13,680 ~-~-> 00:10:19,410
579 -how long it will take for you to get, really, I guess, used
580 -
581 -146
582 -00:10:19,410 ~-~-> 00:10:21,750
583 -to seeing the pattern and anticipating when it's going to
584 -
585 -147
586 -00:10:21,750 ~-~-> 00:10:24,480
587 -form that's going to be different for every single one of
588 -
589 -148
590 -00:10:24,480 ~-~-> 00:10:27,570
591 -you. So it's not here's a general rule of thumb. Everybody
592 -
593 -149
594 -00:10:27,570 ~-~-> 00:10:31,620
595 -gets it by this time. No mentor, no teacher, no educator can
596 -
597 -150
598 -00:10:31,620 ~-~-> 00:10:35,670
599 -say everyone's going to get it by this timeline. So be very
600 -
601 -151
602 -00:10:35,670 ~-~-> 00:10:39,540
603 -flexible with your development, on your personal
604 -
605 -152
606 -00:10:39,540 ~-~-> 00:10:42,060
607 -development, not comparing yourself to someone else. Okay,
608 -
609 -153
610 -00:10:42,060 ~-~-> 00:10:47,790
611 -so when we look at price action on a daily chart, the main
612 -
613 -154
614 -00:10:47,790 ~-~-> 00:10:52,380
615 -thing we're looking for is the reactions from the previous
616 -
617 -155
618 -00:10:52,380 ~-~-> 00:10:56,550
619 -day's range. Okay, so this is the day that we're going to
620 -
621 -156
622 -00:10:56,550 ~-~-> 00:11:00,000
623 -study because this is a new trading day now, but we're going
624 -
625 -157
626 -00:11:00,000 ~-~-> 00:11:03,480
627 -be looking at this particular day here. And already here,
628 -
629 -158
630 -00:11:03,780 ~-~-> 00:11:07,560
631 -all the people here it is it's hindsight again, okay? For
632 -
633 -159
634 -00:11:07,560 ~-~-> 00:11:10,740
635 -those that are new, put the fact that it's hindsight aside
636 -
637 -160
638 -00:11:10,740 ~-~-> 00:11:14,100
639 -for a moment because every single thing that you study when
640 -
641 -161
642 -00:11:14,100 ~-~-> 00:11:14,940
643 -you buy a book,
644 -
645 -162
646 -00:11:16,230 ~-~-> 00:11:20,280
647 -newsflash, that's all hindsight to when you go to a seminar
648 -
649 -163
650 -00:11:20,520 ~-~-> 00:11:23,940
651 -or a webinar, and they show you previous examples, that's
652 -
653 -164
654 -00:11:23,940 ~-~-> 00:11:28,140
655 -all hindsight to. So you'll learn by identifying a pattern
656 -
657 -165
658 -00:11:28,140 ~-~-> 00:11:32,430
659 -that repeats. Okay, so I'm teaching you a pattern of what it
660 -
661 -166
662 -00:11:32,430 ~-~-> 00:11:36,210
663 -looks like, and how it generally forms. Okay, so if you do
664 -
665 -167
666 -00:11:36,210 ~-~-> 00:11:39,870
667 -this, if you learn to do this very, very well, this could be
668 -
669 -168
670 -00:11:39,900 ~-~-> 00:11:43,710
671 -your personal trading model. You never need to learn
672 -
673 -169
674 -00:11:43,710 ~-~-> 00:11:45,870
675 -anything else. You never worry about indicators. You never
676 -
677 -170
678 -00:11:45,870 ~-~-> 00:11:48,510
679 -worry about learning anything else in the ICT library. You
680 -
681 -171
682 -00:11:48,510 ~-~-> 00:11:50,820
683 -don't even worry about mentorships you don't worry about
684 -
685 -172
686 -00:11:50,820 ~-~-> 00:11:54,060
687 -going over here and signing up with signal services, because
688 -
689 -173
690 -00:11:54,060 ~-~-> 00:11:59,910
691 -you will be your own power plant of decisions and ideas and
692 -
693 -174
694 -00:12:00,330 ~-~-> 00:12:04,530
695 -Trade setups, they'll come organically from your own study
696 -
697 -175
698 -00:12:04,560 ~-~-> 00:12:07,650
699 -not relying on other people not relying on me. Not people in
700 -
701 -176
702 -00:12:07,650 ~-~-> 00:12:11,400
703 -chat rooms or, or groups, nothing like that. Okay? The big
704 -
705 -177
706 -00:12:11,400 ~-~-> 00:12:15,570
707 -thing now is everyone's going to discord rooms, okay? Or
708 -
709 -178
710 -00:12:15,810 ~-~-> 00:12:19,170
711 -telegram rooms, all these things and they're all looking for
712 -
713 -179
714 -00:12:19,230 ~-~-> 00:12:24,090
715 -someone that's good, too They can copy cat off of. And you
716 -
717 -180
718 -00:12:24,090 ~-~-> 00:12:28,260
719 -don't need that. You're absolutely in a position to learn
720 -
721 -181
722 -00:12:28,260 ~-~-> 00:12:32,100
723 -how to do this for free, right here and you don't need to
724 -
725 -182
726 -00:12:32,100 ~-~-> 00:12:35,310
727 -have anybody else to convince you or patch on the back to
728 -
729 -183
730 -00:12:35,310 ~-~-> 00:12:38,040
731 -say, follow me because I'm going to do it and you're going
732 -
733 -184
734 -00:12:38,040 ~-~-> 00:12:40,920
735 -to copy us because that makes you subservient to them. And
736 -
737 -185
738 -00:12:40,920 ~-~-> 00:12:43,710
739 -that's not independent thinking. And to me personally, I
740 -
741 -186
742 -00:12:43,710 ~-~-> 00:12:46,560
743 -think it's weakness. And you don't want to be a weak minded
744 -
745 -187
746 -00:12:47,130 ~-~-> 00:12:50,490
747 -decision maker in something like this because you have the
748 -
749 -188
750 -00:12:50,490 ~-~-> 00:12:53,370
751 -capacity to lose a great deal of money for trading with live
752 -
753 -189
754 -00:12:53,370 ~-~-> 00:12:56,790
755 -funds, right so the down close candles in here that's our
756 -
757 -190
758 -00:12:56,790 ~-~-> 00:13:01,110
759 -order block. We had a candle tree down into And then the
760 -
761 -191
762 -00:13:01,110 ~-~-> 00:13:05,730
763 -previous day now again, kind of like just move this candle
764 -
765 -192
766 -00:13:05,730 ~-~-> 00:13:09,150
767 -out of here. Focus don't think that anything about this
768 -
769 -193
770 -00:13:09,150 ~-~-> 00:13:12,210
771 -candle right now we're only focusing on this candles range
772 -
773 -194
774 -00:13:12,240 ~-~-> 00:13:16,530
775 -and the previous day, which is the sixth of May. Okay, so in
776 -
777 -195
778 -00:13:16,530 ~-~-> 00:13:20,520
779 -the United States right now it's 8:41pm, New York local
780 -
781 -196
782 -00:13:20,520 ~-~-> 00:13:26,550
783 -time. And it's still the seventh for me. But it's a new
784 -
785 -197
786 -00:13:26,550 ~-~-> 00:13:29,580
787 -financial day in the Forex so that's why we're seeing this
788 -
789 -198
790 -00:13:29,580 ~-~-> 00:13:34,080
791 -candle form. So when we look at the previous day's range,
792 -
793 -199
794 -00:13:34,350 ~-~-> 00:13:38,850
795 -it's important to simply identify the highs and the lows of
796 -
797 -200
798 -00:13:38,850 ~-~-> 00:13:45,600
799 -it. Okay, so right away, we know this candles high and if we
800 -
801 -201
802 -00:13:45,600 ~-~-> 00:13:48,210
803 -looked at these two down close candles, the fact that we
804 -
805 -202
806 -00:13:48,210 ~-~-> 00:13:54,060
807 -traded down into it here we had a candle trade again, a
808 -
809 -203
810 -00:13:54,060 ~-~-> 00:13:58,560
811 -little bit into your block, the order block is starting at
812 -
813 -204
814 -00:13:58,560 ~-~-> 00:14:02,850
815 -the wick. Okay, so this candle Hy comes in at 6397 a four
816 -
817 -205
818 -00:14:03,090 ~-~-> 00:14:10,830
819 -bit that's the price action dips into that candle range. And
820 -
821 -206
822 -00:14:10,830 ~-~-> 00:14:14,970
823 -it does it again on the seventh. Okay, so it's not showing a
824 -
825 -207
826 -00:14:14,970 ~-~-> 00:14:18,120
827 -willingness to go deeper, it doesn't want to dig in deeper
828 -
829 -208
830 -00:14:18,120 ~-~-> 00:14:23,280
831 -and even take out the low over here. So we have to consider
832 -
833 -209
834 -00:14:23,280 ~-~-> 00:14:27,540
835 -at least for this episode for this particular video, the
836 -
837 -210
838 -00:14:27,540 ~-~-> 00:14:31,110
839 -likelihood of the market wanting to go higher. So what we
840 -
841 -211
842 -00:14:31,110 ~-~-> 00:14:36,060
843 -want to see is does it have the ability on the very next day
844 -
845 -212
846 -00:14:36,060 ~-~-> 00:14:40,170
847 -or the May 7 candle doesn't have the ability to trade above
848 -
849 -213
850 -00:14:40,170 ~-~-> 00:14:44,760
851 -the previous day's range high? Why is that important? For
852 -
853 -214
854 -00:14:44,760 ~-~-> 00:14:48,480
855 -those that have a serious interest in following along in
856 -
857 -215
858 -00:14:48,750 ~-~-> 00:14:52,530
859 -keeping up with a series, you want to take notes, okay, so
860 -
861 -216
862 -00:14:52,740 ~-~-> 00:14:59,760
863 -get yourself a pen and pad and just I guess make a study
864 -
865 -217
866 -00:14:59,760 ~-~-> 00:15:02,580
867 -journal For optimal trade entry, okay, so over the next 20
868 -
869 -218
870 -00:15:02,580 ~-~-> 00:15:06,150
871 -days, I'm going to give you simple little facets that go
872 -
873 -219
874 -00:15:06,150 ~-~-> 00:15:10,440
875 -along with this pattern. And you'll see that it will flesh
876 -
877 -220
878 -00:15:10,440 ~-~-> 00:15:13,080
879 -out over a period of time, and you'll start seeing things
880 -
881 -221
882 -00:15:13,080 ~-~-> 00:15:15,180
883 -that you didn't really see before, even if you're familiar
884 -
885 -222
886 -00:15:15,180 ~-~-> 00:15:18,750
887 -with the optimal trade entry. So we're gonna go down to a
888 -
889 -223
890 -00:15:18,750 ~-~-> 00:15:23,370
891 -lower timeframe, and these levels here are going to be on
892 -
893 -224
894 -00:15:23,370 ~-~-> 00:15:27,450
895 -the lower timeframe chart, but this study over the next 20
896 -
897 -225
898 -00:15:27,450 ~-~-> 00:15:32,100
899 -days is going to focus on intraday charts. And specifically
900 -
901 -226
902 -00:15:32,130 ~-~-> 00:15:35,940
903 -a five minute chart. And right away somebody you're like, I
904 -
905 -227
906 -00:15:35,940 ~-~-> 00:15:39,270
907 -don't like five minute charts. I can't do that. Trust me,
908 -
909 -228
910 -00:15:39,630 ~-~-> 00:15:42,210
911 -it's beneficial to your learning. Alright, so all right, so
912 -
913 -229
914 -00:15:42,210 ~-~-> 00:15:44,670
915 -what we have here is a blank canvas in the form of
916 -
917 -230
918 -00:15:44,670 ~-~-> 00:15:48,330
919 -candlesticks that may or may not mean anything to you, but I
920 -
921 -231
922 -00:15:48,330 ~-~-> 00:15:52,440
923 -want to press upon you the importance of knowing the
924 -
925 -232
926 -00:15:52,440 ~-~-> 00:15:56,250
927 -previous day's high and low and it's very simple process.
928 -
929 -233
930 -00:15:56,250 ~-~-> 00:16:00,000
931 -You can go into your charts and today and put vertical lines
932 -
933 -234
934 -00:16:00,600 ~-~-> 00:16:06,690
935 -On the seventh and the sixth, so the range low on the six is
936 -
937 -235
938 -00:16:06,690 ~-~-> 00:16:11,760
939 -here in the range high is here. So when we know that on the
940 -
941 -236
942 -00:16:11,760 ~-~-> 00:16:15,480
943 -daily chart, okay above previous day's highs and lows
944 -
945 -237
946 -00:16:17,100 ~-~-> 00:16:19,860
947 -only say like this above previous day's highs and below
948 -
949 -238
950 -00:16:19,860 ~-~-> 00:16:25,020
951 -previous day's lows. There's a bank of orders that generally
952 -
953 -239
954 -00:16:25,050 ~-~-> 00:16:28,530
955 -reside in the marketplace and throughout the day, depending
956 -
957 -240
958 -00:16:28,530 ~-~-> 00:16:32,820
959 -upon how we get closer to the previous day's high or low on
960 -
961 -241
962 -00:16:32,820 ~-~-> 00:16:34,650
963 -the new trading day and the new trading day. In this
964 -
965 -242
966 -00:16:34,710 ~-~-> 00:16:37,530
967 -example, here is the seventh. So we're assuming all this
968 -
969 -243
970 -00:16:37,530 ~-~-> 00:16:42,180
971 -price action here is what we're studying. When the market
972 -
973 -244
974 -00:16:42,180 ~-~-> 00:16:52,170
975 -has a predisposed. bias, or trend or momentum or you just
976 -
977 -245
978 -00:16:52,170 ~-~-> 00:16:56,040
979 -think, okay that it's going to go higher. You want to focus
980 -
981 -246
982 -00:16:56,040 ~-~-> 00:16:57,990
983 -on the previous day's high and then you want to see does it
984 -
985 -247
986 -00:16:57,990 ~-~-> 00:17:01,230
987 -have the ability to stretch and reach up To the previous
988 -
989 -248
990 -00:17:01,230 ~-~-> 00:17:06,210
991 -day's high, if it does, one of two things generally happens.
992 -
993 -249
994 -00:17:06,750 ~-~-> 00:17:09,690
995 -And assuming it's a bullish one, it goes through the
996 -
997 -250
998 -00:17:09,690 ~-~-> 00:17:12,450
999 -previous day's high and just explodes and never gives you a
1000 -
1001 -251
1002 -00:17:12,450 ~-~-> 00:17:14,880
1003 -chance to trade. And that's just a missed opportunity. And
1004 -
1005 -252
1006 -00:17:14,880 ~-~-> 00:17:17,130
1007 -there's nothing you could do about it. There's no reason to
1008 -
1009 -253
1010 -00:17:17,130 ~-~-> 00:17:19,290
1011 -get upset about it. There's no reason to go online and
1012 -
1013 -254
1014 -00:17:19,290 ~-~-> 00:17:22,140
1015 -complain to other people how you missed that trade, or you
1016 -
1017 -255
1018 -00:17:22,140 ~-~-> 00:17:25,950
1019 -suck, or you're, you're never going to get this. Never do
1020 -
1021 -256
1022 -00:17:25,950 ~-~-> 00:17:28,830
1023 -that, because you're actually giving yourself negative
1024 -
1025 -257
1026 -00:17:28,830 ~-~-> 00:17:31,710
1027 -reinforcement. And your subconscious will remember that in
1028 -
1029 -258
1030 -00:17:31,710 ~-~-> 00:17:36,240
1031 -every trade you take after that trade will be plagued by
1032 -
1033 -259
1034 -00:17:36,240 ~-~-> 00:17:39,720
1035 -that negative narrative that you've given yourself that you
1036 -
1037 -260
1038 -00:17:39,720 ~-~-> 00:17:42,540
1039 -suck, you're never going to get this. So every time you
1040 -
1041 -261
1042 -00:17:42,540 ~-~-> 00:17:46,170
1043 -actually muster up the courage to get an actually execute.
1044 -
1045 -262
1046 -00:17:47,430 ~-~-> 00:17:49,470
1047 -You're going to be scared, you're going to be constantly
1048 -
1049 -263
1050 -00:17:49,470 ~-~-> 00:17:52,080
1051 -revved up, you're going to be in a constant state of stress
1052 -
1053 -264
1054 -00:17:52,080 ~-~-> 00:17:55,080
1055 -and anxiety, versus just following the method that you've
1056 -
1057 -265
1058 -00:17:55,320 ~-~-> 00:17:58,410
1059 -adopted and focusing on what price is doing is it's still
1060 -
1061 -266
1062 -00:17:58,410 ~-~-> 00:18:01,560
1063 -viable in terms of a trade Should you collapse it or maybe
1064 -
1065 -267
1066 -00:18:01,560 ~-~-> 00:18:04,020
1067 -take some of the risk off or stick with it because now it's
1068 -
1069 -268
1070 -00:18:04,020 ~-~-> 00:18:08,790
1071 -moving in your favor. When we look at previous day's highs
1072 -
1073 -269
1074 -00:18:08,970 ~-~-> 00:18:13,590
1075 -and previous day's lows, we want to see the market go up
1076 -
1077 -270
1078 -00:18:13,590 ~-~-> 00:18:17,340
1079 -above it. And then once it trades to the previous day's high
1080 -
1081 -271
1082 -00:18:17,340 ~-~-> 00:18:20,970
1083 -if we're bullish, we want to see does it create an optimal
1084 -
1085 -272
1086 -00:18:20,970 ~-~-> 00:18:24,660
1087 -trade entry? Because many times you're going to see this
1088 -
1089 -273
1090 -00:18:24,660 ~-~-> 00:18:27,840
1091 -formation form exactly like I'm showing you here. Okay, lots
1092 -
1093 -274
1094 -00:18:27,840 ~-~-> 00:18:31,110
1095 -and lots of times do you see this formation form throughout
1096 -
1097 -275
1098 -00:18:31,110 ~-~-> 00:18:34,530
1099 -the week and it may not be that particular currency or this
1100 -
1101 -276
1102 -00:18:34,560 ~-~-> 00:18:37,290
1103 -currency in this example here Australian versus the Dollar,
1104 -
1105 -277
1106 -00:18:37,680 ~-~-> 00:18:42,180
1107 -it may be in euro it may be in cable, it may be in the beast
1108 -
1109 -278
1110 -00:18:42,180 ~-~-> 00:18:47,040
1111 -pound versus yen, it may be the New Zealand dollar, it may
1112 -
1113 -279
1114 -00:18:47,040 ~-~-> 00:18:53,910
1115 -be in gold. It may be in a crypto currency, okay. It's not
1116 -
1117 -280
1118 -00:18:53,910 ~-~-> 00:18:58,530
1119 -limited to just one currency stick to it and always expect
1120 -
1121 -281
1122 -00:18:58,530 ~-~-> 00:19:01,710
1123 -it to happen like that. When You understand this pattern,
1124 -
1125 -282
1126 -00:19:01,920 ~-~-> 00:19:05,250
1127 -you can mark out your previous day's highs and lows. And if
1128 -
1129 -283
1130 -00:19:05,280 ~-~-> 00:19:10,890
1131 -there is a very discernible, clear, unambiguous directional
1132 -
1133 -284
1134 -00:19:10,890 ~-~-> 00:19:14,460
1135 -bias that lends well to one particular currency or two over
1136 -
1137 -285
1138 -00:19:14,460 ~-~-> 00:19:17,040
1139 -the other basket of currencies that you follow, then that
1140 -
1141 -286
1142 -00:19:17,040 ~-~-> 00:19:19,320
1143 -means you've very easily filtered out all the other
1144 -
1145 -287
1146 -00:19:19,320 ~-~-> 00:19:21,930
1147 -currencies. So now you're gonna focus on maybe one or two
1148 -
1149 -288
1150 -00:19:21,930 ~-~-> 00:19:25,260
1151 -for that particular day and then wait to see if it trades to
1152 -
1153 -289
1154 -00:19:25,290 ~-~-> 00:19:28,260
1155 -end through the previous day's high if it's bullish, or
1156 -
1157 -290
1158 -00:19:28,320 ~-~-> 00:19:33,030
1159 -below the previous day's low if you're bearish. Now with
1160 -
1161 -291
1162 -00:19:33,030 ~-~-> 00:19:37,140
1163 -these ideas mentioned in general bullet point fashion, as
1164 -
1165 -292
1166 -00:19:37,140 ~-~-> 00:19:40,620
1167 -I've just given you, let's flesh this idea a little bit and
1168 -
1169 -293
1170 -00:19:40,620 ~-~-> 00:19:44,160
1171 -put some lipstick on this pig here. Okay, so we got the
1172 -
1173 -294
1174 -00:19:44,190 ~-~-> 00:19:47,670
1175 -vertical delineation here on the sixth and the seventh. So
1176 -
1177 -295
1178 -00:19:47,670 ~-~-> 00:19:50,370
1179 -between those two vertical lines, we have the highest high
1180 -
1181 -296
1182 -00:19:51,210 ~-~-> 00:19:54,630
1183 -and the lowest low as denoted on the chart here previous
1184 -
1185 -297
1186 -00:19:54,630 ~-~-> 00:19:58,650
1187 -day's high, previous day's low. And here's the daily bullish
1188 -
1189 -298
1190 -00:19:58,650 ~-~-> 00:20:01,920
1191 -order blocked as outlined On the daily chart before we move
1192 -
1193 -299
1194 -00:20:01,920 ~-~-> 00:20:03,990
1195 -down to a lower timeframe. Alright, so the previous day's
1196 -
1197 -300
1198 -00:20:03,990 ~-~-> 00:20:08,760
1199 -high on this particular candle here we have 6445 and three
1200 -
1201 -301
1202 -00:20:08,760 ~-~-> 00:20:13,320
1203 -pipettes. And the next candle is the very highest high at
1204 -
1205 -302
1206 -00:20:13,320 ~-~-> 00:20:19,830
1207 -6453. Okay, so there's our high. So think in terms of round
1208 -
1209 -303
1210 -00:20:19,830 ~-~-> 00:20:22,620
1211 -numbers and big figures and mid figures. Okay, so
1212 -
1213 -304
1214 -00:20:22,620 ~-~-> 00:20:27,690
1215 -essentially, this high, meaning 53, even if that's the high,
1216 -
1217 -305
1218 -00:20:27,720 ~-~-> 00:20:35,100
1219 -what is it really trading around 6450 mid figure. So it's
1220 -
1221 -306
1222 -00:20:35,100 ~-~-> 00:20:40,890
1223 -the midpoint between 64 00 and 65 00. So the mid figure
1224 -
1225 -307
1226 -00:20:40,890 ~-~-> 00:20:44,940
1227 -levels are very significant or important. Couple that with
1228 -
1229 -308
1230 -00:20:44,940 ~-~-> 00:20:48,930
1231 -the fact that this high and this high here are basically
1232 -
1233 -309
1234 -00:20:48,930 ~-~-> 00:20:50,820
1235 -relatively the same high
1236 -
1237 -310
1238 -00:20:52,410 ~-~-> 00:20:53,610
1239 -above this
1240 -
1241 -311
1242 -00:20:54,569 ~-~-> 00:20:57,179
1243 -clear area that would otherwise be viewed as retail
1244 -
1245 -312
1246 -00:20:57,179 ~-~-> 00:21:01,439
1247 -resistance. Traders think that the offered resistance here
1248 -
1249 -313
1250 -00:21:01,439 ~-~-> 00:21:03,689
1251 -it offered resistance here and as it starts to break down
1252 -
1253 -314
1254 -00:21:03,689 ~-~-> 00:21:07,769
1255 -anyone going short, they would feel very comfortable putting
1256 -
1257 -315
1258 -00:21:07,769 ~-~-> 00:21:12,149
1259 -a stop loss above these highs because they feel with visual
1260 -
1261 -316
1262 -00:21:12,149 ~-~-> 00:21:16,469
1263 -support behind the theory that this is resistance. So
1264 -
1265 -317
1266 -00:21:16,739 ~-~-> 00:21:20,249
1267 -there's going to be a bank of orders that reside above this
1268 -
1269 -318
1270 -00:21:20,699 ~-~-> 00:21:24,809
1271 -because it's the previous day's high when we're looking at
1272 -
1273 -319
1274 -00:21:24,809 ~-~-> 00:21:27,629
1275 -over here and the fact that we have relative equal highs, so
1276 -
1277 -320
1278 -00:21:27,629 ~-~-> 00:21:31,769
1279 -there's going to be a layer of liquidity above these highs
1280 -
1281 -321
1282 -00:21:31,769 ~-~-> 00:21:37,379
1283 -and above the mid figure, okay, so 6450 which is this black
1284 -
1285 -322
1286 -00:21:37,379 ~-~-> 00:21:41,099
1287 -line here, and then 10 pips above it, which is 6460 and 10
1288 -
1289 -323
1290 -00:21:41,099 ~-~-> 00:21:45,239
1291 -pips below is 6440 so we have a standard deviation of 10
1292 -
1293 -324
1294 -00:21:45,239 ~-~-> 00:21:47,909
1295 -pips now, I don't want to make it too complicated, but just
1296 -
1297 -325
1298 -00:21:47,909 ~-~-> 00:21:51,839
1299 -understand that what I'm showing you here, this is about the
1300 -
1301 -326
1302 -00:21:52,559 ~-~-> 00:21:55,829
1303 -general rule of thumb, you're going to get that seems really
1304 -
1305 -327
1306 -00:21:55,829 ~-~-> 00:21:59,339
1307 -technical. Just know that whenever we have a previous high
1308 -
1309 -328
1310 -00:21:59,819 ~-~-> 00:22:03,779
1311 -or Previous low power did this here, I would do the same
1312 -
1313 -329
1314 -00:22:03,779 ~-~-> 00:22:06,509
1315 -thing around this low here because the low in this candle
1316 -
1317 -330
1318 -00:22:07,919 ~-~-> 00:22:13,739
1319 -comes in at 6378. So we have an institutional level of 80.
1320 -
1321 -331
1322 -00:22:13,769 ~-~-> 00:22:20,189
1323 -So if you're again, if you're new here 00 level, point 80 or
1324 -
1325 -332
1326 -00:22:20,219 ~-~-> 00:22:25,829
1327 -80, in this case here 50, mid figure, and point 20 or 20, in
1328 -
1329 -333
1330 -00:22:25,859 ~-~-> 00:22:28,709
1331 -instance, for Australian dollar, so you have mid figure
1332 -
1333 -334
1334 -00:22:28,709 ~-~-> 00:22:32,999
1335 -levels that's very sensitive at level 20 and the 00 levels.
1336 -
1337 -335
1338 -00:22:33,419 ~-~-> 00:22:35,789
1339 -Now, why are these levels important? Why are they
1340 -
1341 -336
1342 -00:22:35,789 ~-~-> 00:22:41,219
1343 -significant is because a lot of large fund traders make
1344 -
1345 -337
1346 -00:22:41,219 ~-~-> 00:22:44,699
1347 -their orders very easy for processing and they just put them
1348 -
1349 -338
1350 -00:22:44,699 ~-~-> 00:22:48,719
1351 -in there at that level. A lot of commerce gets done at those
1352 -
1353 -339
1354 -00:22:48,719 ~-~-> 00:22:51,149
1355 -levels too. So when there's global commerce that comes into
1356 -
1357 -340
1358 -00:22:51,149 ~-~-> 00:22:55,679
1359 -the marketplace, IBM needs to do business in Japan so they
1360 -
1361 -341
1362 -00:22:55,679 ~-~-> 00:22:59,369
1363 -have to turn dollars into yen when they put orders in for
1364 -
1365 -342
1366 -00:22:59,369 ~-~-> 00:23:06,719
1367 -that transaction, it's just easier for the bank to move that
1368 -
1369 -343
1370 -00:23:06,719 ~-~-> 00:23:11,789
1371 -into those levels and do the commerce there. So, again,
1372 -
1373 -344
1374 -00:23:12,089 ~-~-> 00:23:16,349
1375 -that's not important. It's nothing that needs to be known or
1376 -
1377 -345
1378 -00:23:16,349 ~-~-> 00:23:20,069
1379 -followed or believed in. Okay, to see this work, all we're
1380 -
1381 -346
1382 -00:23:20,069 ~-~-> 00:23:23,039
1383 -doing is studying a signature in price action, that will
1384 -
1385 -347
1386 -00:23:23,039 ~-~-> 00:23:27,509
1387 -tend to repeat a lot. And this is one of the formations of
1388 -
1389 -348
1390 -00:23:27,509 ~-~-> 00:23:31,439
1391 -optimal trade entry and why it forms here. Okay, so, again,
1392 -
1393 -349
1394 -00:23:31,529 ~-~-> 00:23:34,139
1395 -the daily chart, we're assuming the previous day's high
1396 -
1397 -350
1398 -00:23:34,319 ~-~-> 00:23:38,579
1399 -should be traded to and if it does, it should be bullish and
1400 -
1401 -351
1402 -00:23:38,579 ~-~-> 00:23:42,899
1403 -look to see higher prices. If it goes below the previous
1404 -
1405 -352
1406 -00:23:42,899 ~-~-> 00:23:48,359
1407 -day's low, that means that we can't be as bullish, but we
1408 -
1409 -353
1410 -00:23:48,359 ~-~-> 00:23:51,629
1411 -can now study to see if we have a bearish optimal trade
1412 -
1413 -354
1414 -00:23:51,629 ~-~-> 00:23:54,929
1415 -entry because the previous day's low has been violated. So
1416 -
1417 -355
1418 -00:23:55,019 ~-~-> 00:23:57,569
1419 -there's always a study and it's not about hints is very
1420 -
1421 -356
1422 -00:23:57,569 ~-~-> 00:23:59,849
1423 -important. Write this down and underline it several times
1424 -
1425 -357
1426 -00:23:59,849 ~-~-> 00:24:02,099
1427 -and highlight it and draw all kinds of, you know,
1428 -
1429 -358
1430 -00:24:02,219 ~-~-> 00:24:04,499
1431 -annotations around that draw your attention how important
1432 -
1433 -359
1434 -00:24:04,499 ~-~-> 00:24:07,019
1435 -this is, it's not about being right or wrong.
1436 -
1437 -360
1438 -00:24:08,550 ~-~-> 00:24:12,480
1439 -The study is to show you what it looks like every single day
1440 -
1441 -361
1442 -00:24:12,480 ~-~-> 00:24:15,900
1443 -and how you're going to go into the chart. So when I show
1444 -
1445 -362
1446 -00:24:15,900 ~-~-> 00:24:20,730
1447 -these examples, again, it's just to train your eye to see
1448 -
1449 -363
1450 -00:24:20,820 ~-~-> 00:24:24,030
1451 -the thing I'm showing you over and over and over again. And
1452 -
1453 -364
1454 -00:24:24,030 ~-~-> 00:24:28,980
1455 -you're gonna find that this is exactly what it tends to do
1456 -
1457 -365
1458 -00:24:29,280 ~-~-> 00:24:32,850
1459 -in other markets as well. It's not just me form fitting it
1460 -
1461 -366
1462 -00:24:32,940 ~-~-> 00:24:37,440
1463 -into this one because it looks pretty okay. So again, the
1464 -
1465 -367
1466 -00:24:37,440 ~-~-> 00:24:39,480
1467 -idea is we're looking for the previous day's high on the
1468 -
1469 -368
1470 -00:24:39,480 ~-~-> 00:24:43,140
1471 -sixth the be traded to it does here and then we consolidate
1472 -
1473 -369
1474 -00:24:43,140 ~-~-> 00:24:45,900
1475 -and retrace a little bit and we hang around once it hits
1476 -
1477 -370
1478 -00:24:45,900 ~-~-> 00:24:50,490
1479 -that 6450 level, which that black line here. It does blow
1480 -
1481 -371
1482 -00:24:50,490 ~-~-> 00:24:53,670
1483 -out the previous day's high not by much but it does. And
1484 -
1485 -372
1486 -00:24:53,670 ~-~-> 00:24:56,370
1487 -then it gyrates down 10 pips or a little bit more than that,
1488 -
1489 -373
1490 -00:24:56,610 ~-~-> 00:24:59,610
1491 -and picks up more orders. What is it doing, it's gathering
1492 -
1493 -374
1494 -00:24:59,610 ~-~-> 00:25:02,190
1495 -more orders. here and then there's a displacement here,
1496 -
1497 -375
1498 -00:25:02,430 ~-~-> 00:25:05,790
1499 -price starts to create a run up above the previous day's
1500 -
1501 -376
1502 -00:25:05,790 ~-~-> 00:25:09,780
1503 -high with a little more meaningful run. So the shallow run
1504 -
1505 -377
1506 -00:25:09,780 ~-~-> 00:25:12,540
1507 -here gets overtaken here. And then price does what it
1508 -
1509 -378
1510 -00:25:12,540 ~-~-> 00:25:16,320
1511 -returns back to the 6450 mid figure and consolidates in
1512 -
1513 -379
1514 -00:25:16,320 ~-~-> 00:25:21,750
1515 -between 6460 6450. And what is it doing? It's allowing all
1516 -
1517 -380
1518 -00:25:21,750 ~-~-> 00:25:25,890
1519 -the orders that was above the previous day's high and around
1520 -
1521 -381
1522 -00:25:26,010 ~-~-> 00:25:32,370
1523 -6450. An order bank gets depleted because of the time it's
1524 -
1525 -382
1526 -00:25:32,370 ~-~-> 00:25:34,950
1527 -sitting in here. Now when I say order bank, it's it's
1528 -
1529 -383
1530 -00:25:34,950 ~-~-> 00:25:39,090
1531 -basically a huge collection of orders that may or may not be
1532 -
1533 -384
1534 -00:25:39,090 ~-~-> 00:25:42,060
1535 -in the marketplace around here, but as it sits in here,
1536 -
1537 -385
1538 -00:25:42,570 ~-~-> 00:25:45,570
1539 -people will start to build a bias or sentiment about what
1540 -
1541 -386
1542 -00:25:45,570 ~-~-> 00:25:48,870
1543 -they think the Australian dollar is going to do. In terms of
1544 -
1545 -387
1546 -00:25:49,050 ~-~-> 00:25:52,680
1547 -bullishness or bearishness. These orders that are
1548 -
1549 -388
1550 -00:25:52,710 ~-~-> 00:25:58,800
1551 -accumulated in here are going to build up over time. Price
1552 -
1553 -389
1554 -00:25:58,800 ~-~-> 00:26:02,430
1555 -makes a run above this 6460 level and it starts just get up
1556 -
1557 -390
1558 -00:26:02,430 ~-~-> 00:26:06,990
1559 -into the 6470. But it's not important. We're looking for
1560 -
1561 -391
1562 -00:26:07,230 ~-~-> 00:26:12,360
1563 -price to go to a specific time and specific price. So we're
1564 -
1565 -392
1566 -00:26:12,360 ~-~-> 00:26:15,180
1567 -looking at time and price. That's what makes optimal trade
1568 -
1569 -393
1570 -00:26:15,180 ~-~-> 00:26:18,930
1571 -entry or the ICT optimal trade entry pattern. What it is,
1572 -
1573 -394
1574 -00:26:19,200 ~-~-> 00:26:21,480
1575 -it's not just simply going in there and saying, okay, every
1576 -
1577 -395
1578 -00:26:21,480 ~-~-> 00:26:24,120
1579 -time that price retraces it, because otherwise that's just
1580 -
1581 -396
1582 -00:26:24,120 ~-~-> 00:26:28,590
1583 -Fibonacci trading, okay? Or ratio trading, or harmonic
1584 -
1585 -397
1586 -00:26:28,620 ~-~-> 00:26:31,530
1587 -trading, you know, I'm saying it everyone's got a name for
1588 -
1589 -398
1590 -00:26:31,530 ~-~-> 00:26:34,500
1591 -it, okay? But what I'm showing you what makes this optimal,
1592 -
1593 -399
1594 -00:26:34,950 ~-~-> 00:26:38,460
1595 -okay? is the fact that it's occurring at a key time of day.
1596 -
1597 -400
1598 -00:26:39,000 ~-~-> 00:26:42,300
1599 -Now, I'm not, I'm not teaching you, ICT kill zones. Okay,
1600 -
1601 -401
1602 -00:26:42,300 ~-~-> 00:26:46,620
1603 -I'm gonna make it very, very simple. It's specific times a
1604 -
1605 -402
1606 -00:26:46,620 ~-~-> 00:26:49,080
1607 -window, a window that begins in a window to ends and then
1608 -
1609 -403
1610 -00:26:49,080 ~-~-> 00:26:53,550
1611 -we're only focusing during the New York session. Okay, so
1612 -
1613 -404
1614 -00:26:53,550 ~-~-> 00:26:56,700
1615 -it's not the New York kill zone. It's the new york session.
1616 -
1617 -405
1618 -00:26:56,880 ~-~-> 00:27:01,200
1619 -So it allows a great deal of flexibility It allows you also
1620 -
1621 -406
1622 -00:27:01,200 ~-~-> 00:27:05,820
1623 -to look for this pattern with specific envelopes and time
1624 -
1625 -407
1626 -00:27:05,820 ~-~-> 00:27:08,610
1627 -where it begins and ends. If it doesn't occur, then you
1628 -
1629 -408
1630 -00:27:08,640 ~-~-> 00:27:11,910
1631 -can't do anything with it. It may form later on, and you'll
1632 -
1633 -409
1634 -00:27:11,910 ~-~-> 00:27:14,790
1635 -be like, Oh, I didn't see it then and I didn't take it in.
1636 -
1637 -410
1638 -00:27:14,970 ~-~-> 00:27:19,200
1639 -So I'm mad. Don't be mad. You only want something that makes
1640 -
1641 -411
1642 -00:27:19,200 ~-~-> 00:27:22,980
1643 -sense and a time where you anticipate it occurring. This is
1644 -
1645 -412
1646 -00:27:23,850 ~-~-> 00:27:30,240
1647 -discipline, this is focusing on a rule based premise. And
1648 -
1649 -413
1650 -00:27:30,270 ~-~-> 00:27:34,080
1651 -following your price action model. This is the way
1652 -
1653 -414
1654 -00:27:34,080 ~-~-> 00:27:37,200
1655 -professional traders do it. They don't get lacks in their
1656 -
1657 -415
1658 -00:27:37,620 ~-~-> 00:27:41,100
1659 -rule rules and and say, Okay, well, it was good. Last 12
1660 -
1661 -416
1662 -00:27:41,100 ~-~-> 00:27:44,190
1663 -times I did it, but this time, I just feel lucky. And I'm
1664 -
1665 -417
1666 -00:27:44,190 ~-~-> 00:27:47,250
1667 -just going to do things slightly different. They don't do
1668 -
1669 -418
1670 -00:27:47,250 ~-~-> 00:27:51,180
1671 -that. Okay, generally, if you have a model or trading plan,
1672 -
1673 -419
1674 -00:27:52,080 ~-~-> 00:27:55,200
1675 -you want to stick to the rules. And that way, you're not
1676 -
1677 -420
1678 -00:27:55,200 ~-~-> 00:27:58,770
1679 -going to be confused when things go awry. It's just simply a
1680 -
1681 -421
1682 -00:27:58,770 ~-~-> 00:28:02,250
1683 -losing trade. You're not going to be able to avoid every
1684 -
1685 -422
1686 -00:28:02,280 ~-~-> 00:28:06,780
1687 -instance of that occurring. Everyone takes losses. I take
1688 -
1689 -423
1690 -00:28:06,870 ~-~-> 00:28:12,090
1691 -losses. I have lost money, okay? You're going to lose money,
1692 -
1693 -424
1694 -00:28:12,180 ~-~-> 00:28:14,700
1695 -you can't avoid it. It's absolutely going to happen. If you
1696 -
1697 -425
1698 -00:28:14,700 ~-~-> 00:28:18,510
1699 -put life money in here, you're going to lose money. But if
1700 -
1701 -426
1702 -00:28:18,510 ~-~-> 00:28:23,130
1703 -you learn how to do this, you're going to see how often this
1704 -
1705 -427
1706 -00:28:23,130 ~-~-> 00:28:26,550
1707 -signature becomes very familiar in price action, and I'll
1708 -
1709 -428
1710 -00:28:26,550 ~-~-> 00:28:31,020
1711 -leave up to you what that means on an individual basis. So
1712 -
1713 -429
1714 -00:28:31,050 ~-~-> 00:28:34,410
1715 -price stays around and meanders up and down gyrates until we
1716 -
1717 -430
1718 -00:28:34,410 ~-~-> 00:28:37,830
1719 -get to a specific time of the day and this is going to be
1720 -
1721 -431
1722 -00:28:38,070 ~-~-> 00:28:43,290
1723 -8:30am to 11 o'clock in the morning, New York time, these
1724 -
1725 -432
1726 -00:28:43,290 ~-~-> 00:28:48,810
1727 -are always new york times 830 New York time to 11 o'clock,
1728 -
1729 -433
1730 -00:28:49,080 ~-~-> 00:28:49,950
1731 -New York time.
1732 -
1733 -434
1734 -00:28:51,270 ~-~-> 00:28:55,320
1735 -Do not email me Why is this time this and not in New York
1736 -
1737 -435
1738 -00:28:55,350 ~-~-> 00:28:58,620
1739 -kill zone times? I'm not teaching mentorship. I'm not
1740 -
1741 -436
1742 -00:28:58,620 ~-~-> 00:29:02,400
1743 -teaching ICT Killzone. I'm teaching you a specific price
1744 -
1745 -437
1746 -00:29:02,400 ~-~-> 00:29:05,700
1747 -action model with role based ideas. And you work with just
1748 -
1749 -438
1750 -00:29:05,700 ~-~-> 00:29:09,150
1751 -this, okay? I'm not reinventing it because my stuff doesn't
1752 -
1753 -439
1754 -00:29:09,150 ~-~-> 00:29:12,540
1755 -work anymore. Okay, that's not what I'm doing. I'm making a
1756 -
1757 -440
1758 -00:29:12,540 ~-~-> 00:29:16,200
1759 -very specific window of time. And it's based on New York
1760 -
1761 -441
1762 -00:29:16,200 ~-~-> 00:29:21,930
1763 -time. So if you want to see the time window I have set you
1764 -
1765 -442
1766 -00:29:21,930 ~-~-> 00:29:24,570
1767 -can see right here, this is what I have in my time setting.
1768 -
1769 -443
1770 -00:29:25,200 ~-~-> 00:29:29,190
1771 -So this is what you'd look for. And then your chart will
1772 -
1773 -444
1774 -00:29:29,190 ~-~-> 00:29:34,470
1775 -look like mine is here. If you live in a different time
1776 -
1777 -445
1778 -00:29:34,470 ~-~-> 00:29:36,840
1779 -zone, a different country, then you need to figure out what
1780 -
1781 -446
1782 -00:29:36,840 ~-~-> 00:29:40,950
1783 -that time is for you locally in where you live at. But this
1784 -
1785 -447
1786 -00:29:40,950 ~-~-> 00:29:47,070
1787 -is the time that this pattern tends to form. Okay, now, the
1788 -
1789 -448
1790 -00:29:47,070 ~-~-> 00:29:50,280
1791 -green shaded area in here is what everyone's familiar with
1792 -
1793 -449
1794 -00:29:50,280 ~-~-> 00:29:53,550
1795 -in terms of my pattern optimal trade entry optimal trade
1796 -
1797 -450
1798 -00:29:53,550 ~-~-> 00:30:00,390
1799 -entry is the 62% retracement level to the 797 retracement
1800 -
1801 -451
1802 -00:30:00,390 ~-~-> 00:30:09,780
1803 -level and the mid point or 70.5 level you can see here
1804 -
1805 -452
1806 -00:30:11,219 ~-~-> 00:30:16,349
1807 -and these are the levels that are highlighted. Okay. So
1808 -
1809 -453
1810 -00:30:16,409 ~-~-> 00:30:20,489
1811 -everything here is what I have on my fit. So these are the,
1812 -
1813 -454
1814 -00:30:20,519 ~-~-> 00:30:23,939
1815 -that's the levels that you would have for your Fibonacci
1816 -
1817 -455
1818 -00:30:23,939 ~-~-> 00:30:27,449
1819 -over here, okay on trading view, so that way it's included
1820 -
1821 -456
1822 -00:30:27,449 ~-~-> 00:30:30,359
1823 -now they don't change, they're not flipping around and
1824 -
1825 -457
1826 -00:30:30,749 ~-~-> 00:30:34,349
1827 -making it fit because I gotta have a winner every single
1828 -
1829 -458
1830 -00:30:34,349 ~-~-> 00:30:38,429
1831 -day. That's not what I'm doing here. Okay. So again, all of
1832 -
1833 -459
1834 -00:30:38,429 ~-~-> 00:30:42,389
1835 -this gyration is just simply working the Bank of orders that
1836 -
1837 -460
1838 -00:30:42,389 ~-~-> 00:30:45,299
1839 -come and go around that mid figure level and above the
1840 -
1841 -461
1842 -00:30:45,299 ~-~-> 00:30:49,439
1843 -previous day's high. Now, remember earlier I said one of two
1844 -
1845 -462
1846 -00:30:49,439 ~-~-> 00:30:51,059
1847 -things are going to happen when you're bullish, and if it
1848 -
1849 -463
1850 -00:30:51,059 ~-~-> 00:30:54,119
1851 -trades to the previous day's high one it takes off and it
1852 -
1853 -464
1854 -00:30:54,119 ~-~-> 00:30:56,009
1855 -doesn't give you a chance to do anything and you miss that
1856 -
1857 -465
1858 -00:30:56,009 ~-~-> 00:31:00,299
1859 -opportunity or it starts to gyrate around the previous stays
1860 -
1861 -466
1862 -00:31:00,299 ~-~-> 00:31:04,319
1863 -high. Okay, and you want to know what institutional price
1864 -
1865 -467
1866 -00:31:04,319 ~-~-> 00:31:07,769
1867 -level you're working around the closest to it. Okay, so
1868 -
1869 -468
1870 -00:31:07,769 ~-~-> 00:31:09,689
1871 -normally when we're saying closest to the previous day's
1872 -
1873 -469
1874 -00:31:09,689 ~-~-> 00:31:14,279
1875 -high, in this instance, it's 6450. And then you do an
1876 -
1877 -470
1878 -00:31:14,279 ~-~-> 00:31:18,059
1879 -envelope of 10 pips above that, and 10 pips below it. And
1880 -
1881 -471
1882 -00:31:18,059 ~-~-> 00:31:22,499
1883 -then you, you allow basically price to generate a trading
1884 -
1885 -472
1886 -00:31:22,499 ~-~-> 00:31:27,749
1887 -range until we get to this little sweet spot in time between
1888 -
1889 -473
1890 -00:31:27,749 ~-~-> 00:31:31,649
1891 -830 in the morning, why 830 for your notes, 830 there's
1892 -
1893 -474
1894 -00:31:31,649 ~-~-> 00:31:33,959
1895 -usually a lot of news that comes out during the New York
1896 -
1897 -475
1898 -00:31:33,959 ~-~-> 00:31:39,509
1899 -session. Okay, so the 830 new session. Usually, it's like
1900 -
1901 -476
1902 -00:31:39,509 ~-~-> 00:31:44,249
1903 -non farm payroll will come out some other kind of report. I
1904 -
1905 -477
1906 -00:31:44,249 ~-~-> 00:31:46,289
1907 -don't off the top my head know what they are. And I don't
1908 -
1909 -478
1910 -00:31:46,289 ~-~-> 00:31:48,449
1911 -really care to know what they are really, because I don't
1912 -
1913 -479
1914 -00:31:48,479 ~-~-> 00:31:52,829
1915 -have any real specific affinity for one particular set of
1916 -
1917 -480
1918 -00:31:52,859 ~-~-> 00:31:56,159
1919 -data because they always come in in now in terms of what's
1920 -
1921 -481
1922 -00:31:56,159 ~-~-> 00:31:59,579
1923 -relevant right now. What's the focus right now, whereas at
1924 -
1925 -482
1926 -00:31:59,579 ~-~-> 00:32:02,879
1927 -the time of this Recording employment numbers, or the lack
1928 -
1929 -483
1930 -00:32:02,879 ~-~-> 00:32:06,209
1931 -of employment is the main focus right now, because
1932 -
1933 -484
1934 -00:32:06,209 ~-~-> 00:32:10,349
1935 -everyone's at home or without a job because of the illness
1936 -
1937 -485
1938 -00:32:10,349 ~-~-> 00:32:16,169
1939 -that's been spreading. So when we get to 830, you want to
1940 -
1941 -486
1942 -00:32:16,169 ~-~-> 00:32:20,579
1943 -see price. Try to trade when you're bullish trade down into
1944 -
1945 -487
1946 -00:32:20,669 ~-~-> 00:32:27,029
1947 -62 to 79% retracement level on the fib. Now, that is your
1948 -
1949 -488
1950 -00:32:27,029 ~-~-> 00:32:33,179
1951 -range determined from the low to the high once this previous
1952 -
1953 -489
1954 -00:32:33,179 ~-~-> 00:32:37,949
1955 -day's high is broken. If this was a bearish scenario, we
1956 -
1957 -490
1958 -00:32:37,949 ~-~-> 00:32:40,619
1959 -would just do the opposite of what's been seen here. Once
1960 -
1961 -491
1962 -00:32:40,619 ~-~-> 00:32:44,339
1963 -the low of the previous day's low is broken. We would use a
1964 -
1965 -492
1966 -00:32:44,339 ~-~-> 00:32:49,289
1967 -short term high to a short term low that would be below the
1968 -
1969 -493
1970 -00:32:49,289 ~-~-> 00:32:51,419
1971 -previous day's low when you're bearish. But in this
1972 -
1973 -494
1974 -00:32:51,419 ~-~-> 00:32:54,419
1975 -instance, obviously we're bullish, so we want to use a short
1976 -
1977 -495
1978 -00:32:54,419 ~-~-> 00:32:59,969
1979 -term low to the short term high so this range is the range
1980 -
1981 -496
1982 -00:32:59,999 ~-~-> 00:33:05,669
1983 -Prior to the formation of the New York session of 830 in the
1984 -
1985 -497
1986 -00:33:05,669 ~-~-> 00:33:07,829
1987 -morning, New York time to 11 o'clock in the morning, New
1988 -
1989 -498
1990 -00:33:07,829 ~-~-> 00:33:12,719
1991 -York time, why 11 o'clock, that's typically around when
1992 -
1993 -499
1994 -00:33:12,749 ~-~-> 00:33:17,159
1995 -London clothes occurs. And usually it's also the time when
1996 -
1997 -500
1998 -00:33:17,819 ~-~-> 00:33:22,919
1999 -the am session starts to wane. In the New York session and
2000 -
2001 -501
2002 -00:33:23,399 ~-~-> 00:33:28,109
2003 -early lunch takers did leave the marketplace. That volume is
2004 -
2005 -502
2006 -00:33:28,229 ~-~-> 00:33:32,249
2007 -no longer available in through noon to one o'clock in the
2008 -
2009 -503
2010 -00:33:32,249 ~-~-> 00:33:35,429
2011 -afternoon. That's generally the New York lunch and it can be
2012 -
2013 -504
2014 -00:33:35,429 ~-~-> 00:33:38,099
2015 -quiet during those times. You only want to be looking for
2016 -
2017 -505
2018 -00:33:38,099 ~-~-> 00:33:41,609
2019 -this pattern up to 11 o'clock in the morning, after 11
2020 -
2021 -506
2022 -00:33:41,609 ~-~-> 00:33:46,409
2023 -o'clock. It can form but it's something other than what I'm
2024 -
2025 -507
2026 -00:33:46,409 ~-~-> 00:33:49,799
2027 -teaching here. And that's not important. The point is, is
2028 -
2029 -508
2030 -00:33:49,799 ~-~-> 00:33:52,709
2031 -you want to see this pattern form during this time of day
2032 -
2033 -509
2034 -00:33:52,859 ~-~-> 00:33:57,029
2035 -with the bias determined by what you determined. When your
2036 -
2037 -510
2038 -00:33:57,029 ~-~-> 00:33:58,709
2039 -daily chart Do you think the previous day's highs gonna be
2040 -
2041 -511
2042 -00:33:58,709 ~-~-> 00:34:00,959
2043 -taken out or the previous day's low today. Now, here's the
2044 -
2045 -512
2046 -00:34:00,959 ~-~-> 00:34:03,539
2047 -thing, the beautiful, beautiful thing really is is many
2048 -
2049 -513
2050 -00:34:03,539 ~-~-> 00:34:06,179
2051 -times you don't even need a bias. You just wait for the
2052 -
2053 -514
2054 -00:34:06,419 ~-~-> 00:34:09,659
2055 -chart to show you what it's done. Does it take out the
2056 -
2057 -515
2058 -00:34:09,659 ~-~-> 00:34:13,019
2059 -previous day's high, or the previous day's low? At this time
2060 -
2061 -516
2062 -00:34:13,019 ~-~-> 00:34:17,579
2063 -of day? What has it done while the here's Midnight in New
2064 -
2065 -517
2066 -00:34:17,579 ~-~-> 00:34:21,509
2067 -York, and during the London session, it created a run
2068 -
2069 -518
2070 -00:34:21,509 ~-~-> 00:34:26,729
2071 -higher. So there's been a lot of buying taking place to get
2072 -
2073 -519
2074 -00:34:26,729 ~-~-> 00:34:30,089
2075 -above the previous day's high, does it create an optimal
2076 -
2077 -520
2078 -00:34:30,089 ~-~-> 00:34:33,209
2079 -trade entry, so the low to the high that's why I had the fib
2080 -
2081 -521
2082 -00:34:33,209 ~-~-> 00:34:35,819
2083 -drawn on, even though it's drugged out to here that way, you
2084 -
2085 -522
2086 -00:34:35,819 ~-~-> 00:34:39,929
2087 -can see over the levels how they line up nicely with time.
2088 -
2089 -523
2090 -00:34:41,189 ~-~-> 00:34:45,389
2091 -So we have two components here we have the element of time.
2092 -
2093 -524
2094 -00:34:47,309 ~-~-> 00:34:52,199
2095 -And we have the element of price. So price is the level
2096 -
2097 -525
2098 -00:34:52,199 ~-~-> 00:34:56,009
2099 -determined by the fib relative to its high and low of that
2100 -
2101 -526
2102 -00:34:56,009 ~-~-> 00:34:56,609
2103 -range.
2104 -
2105 -527
2106 -00:34:57,960 ~-~-> 00:35:04,530
2107 -Time is static This is always static, it does not change, it
2108 -
2109 -528
2110 -00:35:04,530 ~-~-> 00:35:07,620
2111 -does not deviate. It's 830 in the morning, New York time to
2112 -
2113 -529
2114 -00:35:07,620 ~-~-> 00:35:12,450
2115 -11 o'clock, it does not change. So the easy way to do that
2116 -
2117 -530
2118 -00:35:12,450 ~-~-> 00:35:17,190
2119 -is simply just get a horizontal, I'm sorry, a vertical line
2120 -
2121 -531
2122 -00:35:19,410 ~-~-> 00:35:20,100
2123 -and put it
2124 -
2125 -532
2126 -00:35:23,730 ~-~-> 00:35:30,210
2127 -at these specific times. If you do that,
2128 -
2129 -533
2130 -00:35:40,710 ~-~-> 00:35:45,930
2131 -you know, in between these two vertical lines, you don't
2132 -
2133 -534
2134 -00:35:45,930 ~-~-> 00:35:51,210
2135 -need to have a guess as to when something's going to form.
2136 -
2137 -535
2138 -00:35:51,240 ~-~-> 00:35:54,510
2139 -You know, when when price enters this area between the first
2140 -
2141 -536
2142 -00:35:54,510 ~-~-> 00:35:57,750
2143 -vertical line up to the second vertical line, you're
2144 -
2145 -537
2146 -00:35:57,750 ~-~-> 00:36:01,080
2147 -anticipating an optimal trade entry to form So that's the
2148 -
2149 -538
2150 -00:36:01,110 ~-~-> 00:36:05,700
2151 -expectation that you'll have by having your vertical lines
2152 -
2153 -539
2154 -00:36:05,700 ~-~-> 00:36:07,740
2155 -on here. So you don't right now have a whole lot of business
2156 -
2157 -540
2158 -00:36:07,740 ~-~-> 00:36:13,710
2159 -on this chart. But you can see clearly that this is what the
2160 -
2161 -541
2162 -00:36:13,710 ~-~-> 00:36:17,550
2163 -time element would be to this pattern. Price is always going
2164 -
2165 -542
2166 -00:36:17,550 ~-~-> 00:36:21,150
2167 -to be between 62% annotation level and the sub nine tracing
2168 -
2169 -543
2170 -00:36:21,150 ~-~-> 00:36:26,430
2171 -level, which is 79 here, and 62 is just underneath that 50
2172 -
2173 -544
2174 -00:36:26,430 ~-~-> 00:36:30,570
2175 -level. Okay, so 6450 is this black line here. So it cleans
2176 -
2177 -545
2178 -00:36:30,570 ~-~-> 00:36:37,320
2179 -it up a little bit. Okay, so you can see 60 to 79, and 70.5,
2180 -
2181 -546
2182 -00:36:37,560 ~-~-> 00:36:41,550
2183 -which is a sweet spot or optimal trade entry. Okay? When
2184 -
2185 -547
2186 -00:36:41,550 ~-~-> 00:36:46,440
2187 -price drops down into this level, you can be a buyer on
2188 -
2189 -548
2190 -00:36:46,440 ~-~-> 00:36:50,460
2191 -paper or demo, and I'm not going to save you on that,
2192 -
2193 -549
2194 -00:36:50,640 ~-~-> 00:36:53,490
2195 -because I'm not licensed to do that, but we're studying
2196 -
2197 -550
2198 -00:36:53,490 ~-~-> 00:36:56,610
2199 -price action, and you could be a buyer here with the
2200 -
2201 -551
2202 -00:36:56,610 ~-~-> 00:37:00,000
2203 -expectation that we would see it expand. now. I'll get up
2204 -
2205 -552
2206 -00:37:00,000 ~-~-> 00:37:03,360
2207 -Here to talk about these levels in a minute. But right now,
2208 -
2209 -553
2210 -00:37:03,810 ~-~-> 00:37:07,020
2211 -this low is where your stop would have to be below that.
2212 -
2213 -554
2214 -00:37:07,260 ~-~-> 00:37:10,320
2215 -Okay, so the lowest candle, what we're anchoring the fifth
2216 -
2217 -555
2218 -00:37:10,320 ~-~-> 00:37:14,700
2219 -on the low is 6434 and seventh with that so you can do a
2220 -
2221 -556
2222 -00:37:14,700 ~-~-> 00:37:20,850
2223 -stop at 6430. Okay, so here's your stop 6430 darker colors
2224 -
2225 -557
2226 -00:37:20,850 ~-~-> 00:37:28,170
2227 -and agency. So, your stock could be at 6430. So your stock
2228 -
2229 -558
2230 -00:37:28,170 ~-~-> 00:37:33,750
2231 -could be at 6430. Your entry could be at the 62% retracement
2232 -
2233 -559
2234 -00:37:33,750 ~-~-> 00:37:38,190
2235 -level is 6449 and seven bets. So basically we can just
2236 -
2237 -560
2238 -00:37:38,190 ~-~-> 00:37:42,720
2239 -simply say if a trace is 6450 you can be a buyer. Okay, cuz
2240 -
2241 -561
2242 -00:37:42,720 ~-~-> 00:37:47,400
2243 -you're gonna look for the institutional level and the lower
2244 -
2245 -562
2246 -00:37:47,400 ~-~-> 00:37:51,240
2247 -you get down into the 700 retracement level, the less likely
2248 -
2249 -563
2250 -00:37:51,240 ~-~-> 00:37:54,030
2251 -you're going to get your fill because you demand 79%
2252 -
2253 -564
2254 -00:37:54,030 ~-~-> 00:37:56,700
2255 -retracement level here you may or may not get that with the
2256 -
2257 -565
2258 -00:37:56,700 ~-~-> 00:38:00,720
2259 -spread. Okay so what I like to use is 60% trade level and
2260 -
2261 -566
2262 -00:38:00,720 ~-~-> 00:38:03,540
2263 -then maybe factor in the spread there. But if you're using
2264 -
2265 -567
2266 -00:38:03,540 ~-~-> 00:38:07,680
2267 -62, generally it's a little bit more forgiving. Because you
2268 -
2269 -568
2270 -00:38:07,680 ~-~-> 00:38:10,650
2271 -don't need to add always in my, in my experience using 60%
2272 -
2273 -569
2274 -00:38:10,650 ~-~-> 00:38:14,790
2275 -tracing level, you can absolutely get it because you're
2276 -
2277 -570
2278 -00:38:14,790 ~-~-> 00:38:18,120
2279 -going to dip even further generally into the 70 and a half.
2280 -
2281 -571
2282 -00:38:18,420 ~-~-> 00:38:20,820
2283 -And sometimes it is sometimes trade some level but that's
2284 -
2285 -572
2286 -00:38:20,820 ~-~-> 00:38:26,760
2287 -our range price and this is our time window. So the fact
2288 -
2289 -573
2290 -00:38:26,760 ~-~-> 00:38:32,520
2291 -that we're looking at this specific area, if we use a limit
2292 -
2293 -574
2294 -00:38:32,520 ~-~-> 00:38:35,550
2295 -order at 62% retracement level, if it trades below that
2296 -
2297 -575
2298 -00:38:35,550 ~-~-> 00:38:38,700
2299 -you're filled, your stock would be placed here and then
2300 -
2301 -576
2302 -00:38:38,700 ~-~-> 00:38:46,740
2303 -using the fib levels. Point 54.5 negative 0.5 rather, this
2304 -
2305 -577
2306 -00:38:46,740 ~-~-> 00:38:52,050
2307 -is an area where you take first profit if it allows you if
2308 -
2309 -578
2310 -00:38:52,050 ~-~-> 00:38:57,030
2311 -it allows you 15 pips or more. Okay, so there's your rules
2312 -
2313 -579
2314 -00:38:57,120 ~-~-> 00:39:03,030
2315 -you want to take 15 pips at first scalp exit to negative 0.5
2316 -
2317 -580
2318 -00:39:03,030 ~-~-> 00:39:06,960
2319 -level, and then the negative one level, which would be one
2320 -
2321 -581
2322 -00:39:06,960 ~-~-> 00:39:10,530
2323 -standard deviation of the range that you calculate for your
2324 -
2325 -582
2326 -00:39:10,530 ~-~-> 00:39:13,170
2327 -fib. So now what you're drawing your low to your high here,
2328 -
2329 -583
2330 -00:39:13,590 ~-~-> 00:39:18,630
2331 -that range here if it's duplicated, and basically projected
2332 -
2333 -584
2334 -00:39:18,630 ~-~-> 00:39:22,860
2335 -higher, a measured move of that would be this level up here.
2336 -
2337 -585
2338 -00:39:23,340 ~-~-> 00:39:26,130
2339 -Now, since we have that, since it's suggesting here in the
2340 -
2341 -586
2342 -00:39:26,130 ~-~-> 00:39:33,180
2343 -fib, it's 0.6513 and five PIP bets. We want the highest
2344 -
2345 -587
2346 -00:39:33,180 ~-~-> 00:39:36,780
2347 -degree of probability for our Global's for scaling and
2348 -
2349 -588
2350 -00:39:36,780 ~-~-> 00:39:39,630
2351 -taking profits. This would be an area where we can take
2352 -
2353 -589
2354 -00:39:39,630 ~-~-> 00:39:43,890
2355 -profits again. So first scaling would be here at negative
2356 -
2357 -590
2358 -00:39:43,890 ~-~-> 00:39:49,710
2359 -0.5. But the minimum expectation is 15 pips, so you have to
2360 -
2361 -591
2362 -00:39:49,710 ~-~-> 00:39:53,520
2363 -be able to get 15 pips. You can't get 15 pips here, but you
2364 -
2365 -592
2366 -00:39:53,520 ~-~-> 00:39:56,760
2367 -can get it here or more than this is where you would take
2368 -
2369 -593
2370 -00:39:56,760 ~-~-> 00:40:02,160
2371 -first profit. Okay, here is just One level we read expect
2372 -
2373 -594
2374 -00:40:02,160 ~-~-> 00:40:06,960
2375 -it. In this instance here we can see at 6450 or so getting
2376 -
2377 -595
2378 -00:40:06,960 ~-~-> 00:40:15,630
2379 -out at 6493. That's 43 pips almost 43 pips of potential
2380 -
2381 -596
2382 -00:40:15,630 ~-~-> 00:40:17,640
2383 -profit at first scaling.
2384 -
2385 -597
2386 -00:40:19,529 ~-~-> 00:40:26,909
2387 -The next level up here would be 6513, and five, but it may
2388 -
2389 -598
2390 -00:40:26,909 ~-~-> 00:40:29,759
2391 -not get to these levels. Again, Fibonacci is not the answer
2392 -
2393 -599
2394 -00:40:29,759 ~-~-> 00:40:32,399
2395 -to everything in the marketplace. Even though this is giving
2396 -
2397 -600
2398 -00:40:32,399 ~-~-> 00:40:37,379
2399 -you a general rule principle, and in theory, it's going to
2400 -
2401 -601
2402 -00:40:37,379 ~-~-> 00:40:41,579
2403 -get you very, very close to some really sweet setups do not
2404 -
2405 -602
2406 -00:40:41,579 ~-~-> 00:40:45,269
2407 -demand that the price reaches to these levels for your
2408 -
2409 -603
2410 -00:40:45,269 ~-~-> 00:40:48,149
2411 -targets. What I do and this is how I teach my students as
2412 -
2413 -604
2414 -00:40:48,149 ~-~-> 00:40:52,139
2415 -well, if this is the fifth level that we're looking for,
2416 -
2417 -605
2418 -00:40:52,439 ~-~-> 00:40:56,249
2419 -okay, in other words, if your calculations suggest that this
2420 -
2421 -606
2422 -00:40:56,249 ~-~-> 00:41:00,179
2423 -is what the range level for negative one would be, The
2424 -
2425 -607
2426 -00:41:00,179 ~-~-> 00:41:09,389
2427 -projection 6510 is the nearest 10 level without getting up
2428 -
2429 -608
2430 -00:41:09,389 ~-~-> 00:41:12,329
2431 -to that level. So what we're doing is we're rounding down to
2432 -
2433 -609
2434 -00:41:12,329 ~-~-> 00:41:15,809
2435 -the next 10 level. Okay, so wherever this level would be,
2436 -
2437 -610
2438 -00:41:15,809 ~-~-> 00:41:20,699
2439 -say it was 15, it would still be 6510 for me, so I'd be
2440 -
2441 -611
2442 -00:41:20,699 ~-~-> 00:41:25,469
2443 -looking to take profit, or scaling out here. If this level
2444 -
2445 -612
2446 -00:41:25,469 ~-~-> 00:41:29,519
2447 -was at 15 or more pips, this would be my first scaling from
2448 -
2449 -613
2450 -00:41:29,519 ~-~-> 00:41:35,879
2451 -my entry down here at 6450. So 6450 was my limit on entry
2452 -
2453 -614
2454 -00:41:36,539 ~-~-> 00:41:42,989
2455 -for general principles, and the stop would be 6430. So it's
2456 -
2457 -615
2458 -00:41:42,989 ~-~-> 00:41:48,179
2459 -a 20 PIP stop. And, again, forget risk reward. We're not
2460 -
2461 -616
2462 -00:41:48,179 ~-~-> 00:41:50,549
2463 -teaching that don't think it has to be three to one, it has
2464 -
2465 -617
2466 -00:41:50,549 ~-~-> 00:41:54,419
2467 -to be five to one. If it's one to one, it's still good. In
2468 -
2469 -618
2470 -00:41:54,419 ~-~-> 00:41:57,089
2471 -my opinion, it's good because if you have a setup that
2472 -
2473 -619
2474 -00:41:57,089 ~-~-> 00:41:59,489
2475 -repeats over and over and over again very frequently, I
2476 -
2477 -620
2478 -00:41:59,489 ~-~-> 00:42:01,559
2479 -understand that Except the fact I'm not going to be a winner
2480 -
2481 -621
2482 -00:42:01,559 ~-~-> 00:42:04,349
2483 -on every single trade, I'm going to take losses. But if I
2484 -
2485 -622
2486 -00:42:04,349 ~-~-> 00:42:09,179
2487 -have a system that doesn't require me to spend a lot of
2488 -
2489 -623
2490 -00:42:09,179 ~-~-> 00:42:13,259
2491 -money when I'm losing, but I do have a high frequency of
2492 -
2493 -624
2494 -00:42:13,619 ~-~-> 00:42:17,519
2495 -accuracy. And if you look at this, you'll determine if this
2496 -
2497 -625
2498 -00:42:17,519 ~-~-> 00:42:20,279
2499 -does or doesn't have a lot of accuracy. But nonetheless, by
2500 -
2501 -626
2502 -00:42:20,279 ~-~-> 00:42:24,779
2503 -looking at and studying it, with this logic behind it, it's
2504 -
2505 -627
2506 -00:42:24,779 ~-~-> 00:42:28,139
2507 -not the fib that's creating it. The logic is we've traded
2508 -
2509 -628
2510 -00:42:28,139 ~-~-> 00:42:31,019
2511 -above the previous day's high in a relatively bullish
2512 -
2513 -629
2514 -00:42:31,049 ~-~-> 00:42:36,449
2515 -scenario. So we're lending well on this example for bias but
2516 -
2517 -630
2518 -00:42:36,449 ~-~-> 00:42:39,569
2519 -it doesn't require bias if you blow up the previous day's
2520 -
2521 -631
2522 -00:42:39,569 ~-~-> 00:42:42,449
2523 -high or block the previous day's low. You still look for
2524 -
2525 -632
2526 -00:42:42,449 ~-~-> 00:42:46,919
2527 -these general theories to pan out. And again, it's not about
2528 -
2529 -633
2530 -00:42:46,919 ~-~-> 00:42:48,719
2531 -right or wrong. You're not supposed to be taking live trades
2532 -
2533 -634
2534 -00:42:48,719 ~-~-> 00:42:50,789
2535 -with this. I'm not enticing you to take trades with this.
2536 -
2537 -635
2538 -00:42:51,089 ~-~-> 00:42:54,599
2539 -I'm teaching you how to read the tape, how to read the price
2540 -
2541 -636
2542 -00:42:54,599 ~-~-> 00:42:59,339
2543 -action and forecast setups that will repeat if you know what
2544 -
2545 -637
2546 -00:42:59,339 ~-~-> 00:43:04,229
2547 -you're looking for. So, first profit here we could take
2548 -
2549 -638
2550 -00:43:04,259 ~-~-> 00:43:08,339
2551 -obviously at 93, and eight that that's, that's 40 plus pips
2552 -
2553 -639
2554 -00:43:08,369 ~-~-> 00:43:12,359
2555 -so that definitely will meet the minimum criteria 15 pips
2556 -
2557 -640
2558 -00:43:12,359 ~-~-> 00:43:15,569
2559 -before for scaling. And then you can get another scaling out
2560 -
2561 -641
2562 -00:43:15,599 ~-~-> 00:43:20,279
2563 -at 6510, which has rounded down to from the fib level here,
2564 -
2565 -642
2566 -00:43:20,429 ~-~-> 00:43:23,249
2567 -it can hit this fib level or can go through it a little bit
2568 -
2569 -643
2570 -00:43:23,249 ~-~-> 00:43:25,769
2571 -more. And that's fine. This is where you would take your
2572 -
2573 -644
2574 -00:43:25,769 ~-~-> 00:43:31,409
2575 -next level of profit taking. If you can get first scaling,
2576 -
2577 -645
2578 -00:43:32,009 ~-~-> 00:43:35,249
2579 -where it's 15 pips or more, you want to start reducing your
2580 -
2581 -646
2582 -00:43:35,279 ~-~-> 00:43:39,239
2583 -your risk on your stop to about midpoint of the range that
2584 -
2585 -647
2586 -00:43:39,239 ~-~-> 00:43:41,669
2587 -you identified here. Because if it comes back down into
2588 -
2589 -648
2590 -00:43:41,669 ~-~-> 00:43:43,649
2591 -that, it's generally not a good idea to hold on to the
2592 -
2593 -649
2594 -00:43:43,649 ~-~-> 00:43:46,769
2595 -trade. Let let it stop you out. You've taken something
2596 -
2597 -650
2598 -00:43:46,829 ~-~-> 00:43:50,939
2599 -partial, and then you reduced your risk. And then if it
2600 -
2601 -651
2602 -00:43:50,939 ~-~-> 00:43:53,009
2603 -comes back down and stops you out, you've taken something
2604 -
2605 -652
2606 -00:43:53,039 ~-~-> 00:43:56,849
2607 -off the bone you got a bite of flesh, and if it comes back
2608 -
2609 -653
2610 -00:43:56,849 ~-~-> 00:43:58,889
2611 -down, you didn't get stopped out with a loss. That's in
2612 -
2613 -654
2614 -00:43:58,889 ~-~-> 00:44:01,589
2615 -theory, what we're saying Hear. And if it gets second
2616 -
2617 -655
2618 -00:44:03,149 ~-~-> 00:44:06,209
2619 -scaling, if you ever get a second scaling, you have to be
2620 -
2621 -656
2622 -00:44:06,209 ~-~-> 00:44:09,299
2623 -above your entry point, at least two or three pips and just
2624 -
2625 -657
2626 -00:44:09,419 ~-~-> 00:44:14,699
2627 -let it go. Okay, so that way you've gotten two pieces of
2628 -
2629 -658
2630 -00:44:14,699 ~-~-> 00:44:17,009
2631 -meat off the bone. And now you're in a position where your
2632 -
2633 -659
2634 -00:44:17,009 ~-~-> 00:44:20,459
2635 -stop should, in theory protect you from taking a loss. On
2636 -
2637 -660
2638 -00:44:20,459 ~-~-> 00:44:22,769
2639 -the remaining balance, it does not mean you can't take a
2640 -
2641 -661
2642 -00:44:22,769 ~-~-> 00:44:26,429
2643 -loss because you can, as long as the trades open, you are
2644 -
2645 -662
2646 -00:44:26,909 ~-~-> 00:44:31,469
2647 -inviting risk, and the market can always get down or above
2648 -
2649 -663
2650 -00:44:31,679 ~-~-> 00:44:35,069
2651 -your stop loss and that's just life. Okay, and a lot of
2652 -
2653 -664
2654 -00:44:35,069 ~-~-> 00:44:37,289
2655 -people don't realize that they're listening to people
2656 -
2657 -665
2658 -00:44:37,289 ~-~-> 00:44:40,409
2659 -online. Oh, my stops gonna do my job. Nope, not always
2660 -
2661 -666
2662 -00:44:40,439 ~-~-> 00:44:44,729
2663 -assist. That's the best case scenario. And sometimes the
2664 -
2665 -667
2666 -00:44:44,729 ~-~-> 00:44:49,169
2667 -best case scenario doesn't work out. So we can see how price
2668 -
2669 -668
2670 -00:44:49,169 ~-~-> 00:44:52,619
2671 -eventually makes a run up into 6510.
2672 -
2673 -669
2674 -00:44:54,990 ~-~-> 00:44:57,810
2675 -Right, Derek gives us a nice little opportunity to scale off
2676 -
2677 -670
2678 -00:44:58,110 ~-~-> 00:45:03,210
2679 -10 pips. I'm sorry. 6510 which is three and a half pips
2680 -
2681 -671
2682 -00:45:03,210 ~-~-> 00:45:06,480
2683 -below where the fib projected to, but that does not mean
2684 -
2685 -672
2686 -00:45:06,480 ~-~-> 00:45:09,180
2687 -collapse the trade. Okay? It doesn't mean get out of the
2688 -
2689 -673
2690 -00:45:09,180 ~-~-> 00:45:13,080
2691 -trade leave a little bit on. So the again, the assumption is
2692 -
2693 -674
2694 -00:45:13,110 ~-~-> 00:45:15,660
2695 -when your paper trading this or if you're a demo trading and
2696 -
2697 -675
2698 -00:45:15,690 ~-~-> 00:45:19,260
2699 -you want to use a lot size that allows you to have multiple,
2700 -
2701 -676
2702 -00:45:19,380 ~-~-> 00:45:22,860
2703 -in my case, I like to look for leverage that allows me to
2704 -
2705 -677
2706 -00:45:22,860 ~-~-> 00:45:27,210
2707 -take three partials and then give me something to let run.
2708 -
2709 -678
2710 -00:45:27,840 ~-~-> 00:45:31,920
2711 -That means I can get four stages of scaling out of that
2712 -
2713 -679
2714 -00:45:31,950 ~-~-> 00:45:34,980
2715 -position. Not all positions will allow me to do that. And
2716 -
2717 -680
2718 -00:45:34,980 ~-~-> 00:45:37,800
2719 -here's the thing. If it doesn't let me do that. I don't take
2720 -
2721 -681
2722 -00:45:37,800 ~-~-> 00:45:41,370
2723 -that trade. So I've given you something bonus in here, where
2724 -
2725 -682
2726 -00:45:41,370 ~-~-> 00:45:47,280
2727 -it helps me determine with a decision based process and, and
2728 -
2729 -683
2730 -00:45:47,280 ~-~-> 00:45:51,030
2731 -protocols that leads to me getting into a trade. There's
2732 -
2733 -684
2734 -00:45:51,030 ~-~-> 00:45:55,050
2735 -lots of times I see moves coming, and I can see them for me,
2736 -
2737 -685
2738 -00:45:55,200 ~-~-> 00:45:57,450
2739 -I can see exactly when they're going to turn exactly where
2740 -
2741 -686
2742 -00:45:57,450 ~-~-> 00:46:00,720
2743 -they're likely to go, but I'm not in them because They don't
2744 -
2745 -687
2746 -00:46:00,720 ~-~-> 00:46:05,100
2747 -meet all the criteria that I demand of my setups. So there's
2748 -
2749 -688
2750 -00:46:05,100 ~-~-> 00:46:09,390
2751 -nothing wrong with being very, very dependent on your rules
2752 -
2753 -689
2754 -00:46:09,390 ~-~-> 00:46:11,640
2755 -and only executing in that it's actually a good thing. It
2756 -
2757 -690
2758 -00:46:11,640 ~-~-> 00:46:16,020
2759 -builds discipline, it builds maturity as a trader, and you
2760 -
2761 -691
2762 -00:46:16,020 ~-~-> 00:46:20,640
2763 -will not be shaken by a lot of the things that a trader that
2764 -
2765 -692
2766 -00:46:20,640 ~-~-> 00:46:23,430
2767 -doesn't have rule based ideas that sticks to them very
2768 -
2769 -693
2770 -00:46:23,430 ~-~-> 00:46:27,720
2771 -rigid. Will they will generally be encountering a lot more
2772 -
2773 -694
2774 -00:46:27,750 ~-~-> 00:46:33,480
2775 -stress, anxiety, because they're always guessing as to what
2776 -
2777 -695
2778 -00:46:33,480 ~-~-> 00:46:35,970
2779 -they should be doing versus this is what I'm doing. This is
2780 -
2781 -696
2782 -00:46:35,970 ~-~-> 00:46:37,920
2783 -the time of day I'm doing it. And I'm looking forward to go
2784 -
2785 -697
2786 -00:46:37,920 ~-~-> 00:46:40,380
2787 -long. I'm looking for it to go short. If it doesn't fit the
2788 -
2789 -698
2790 -00:46:40,380 ~-~-> 00:46:44,850
2791 -criteria, you don't do anything. And you let it go. And
2792 -
2793 -699
2794 -00:46:44,850 ~-~-> 00:46:50,520
2795 -you'll see over weeks of time doing that. You'll, in theory,
2796 -
2797 -700
2798 -00:46:50,550 ~-~-> 00:46:54,600
2799 -protect yourself from taking from taking on more risk than
2800 -
2801 -701
2802 -00:46:54,600 ~-~-> 00:46:58,230
2803 -you're supposed to, or should and you're gonna be working
2804 -
2805 -702
2806 -00:46:58,230 ~-~-> 00:47:02,520
2807 -towards a perception of price action that is going to be
2808 -
2809 -703
2810 -00:47:02,550 ~-~-> 00:47:05,700
2811 -appreciated by you. And your bottom line and your results
2812 -
2813 -704
2814 -00:47:05,730 ~-~-> 00:47:09,060
2815 -will show that. But again, you're going to take losses,
2816 -
2817 -705
2818 -00:47:09,060 ~-~-> 00:47:12,180
2819 -you're going to get it wrong. This is not a magic recipe for
2820 -
2821 -706
2822 -00:47:12,180 ~-~-> 00:47:16,170
2823 -always winning trading, okay? It's just something to start
2824 -
2825 -707
2826 -00:47:16,170 ~-~-> 00:47:20,010
2827 -with. It's rule based, and you stick with it come hell or
2828 -
2829 -708
2830 -00:47:20,010 ~-~-> 00:47:24,540
2831 -high water. You do this for weeks, and you see if it pans
2832 -
2833 -709
2834 -00:47:24,540 ~-~-> 00:47:28,230
2835 -out and shows any kind of merit. And I promise you, if you
2836 -
2837 -710
2838 -00:47:28,230 ~-~-> 00:47:33,300
2839 -do this, you're going to see it. So the market comes up to
2840 -
2841 -711
2842 -00:47:33,300 ~-~-> 00:47:37,530
2843 -that 6510 level has a reaction retraces back down into some
2844 -
2845 -712
2846 -00:47:37,530 ~-~-> 00:47:41,490
2847 -overflow. And we want to keep something in and we want to
2848 -
2849 -713
2850 -00:47:41,490 ~-~-> 00:47:45,030
2851 -keep a leader in water, see if we can catch a runner. And
2852 -
2853 -714
2854 -00:47:45,030 ~-~-> 00:47:48,990
2855 -the fib will hopefully give us another level of importance.
2856 -
2857 -715
2858 -00:47:49,110 ~-~-> 00:47:56,370
2859 -And if we scrunch it down Okay, we have 6552 and nine PIP
2860 -
2861 -716
2862 -00:47:56,370 ~-~-> 00:48:00,720
2863 -bets. Okay, so that's the next level, which would be This
2864 -
2865 -717
2866 -00:48:00,720 ~-~-> 00:48:04,560
2867 -range two times, that's one of it here. And then the second
2868 -
2869 -718
2870 -00:48:04,560 ~-~-> 00:48:08,790
2871 -one here. So this is two standard deviations. This level in
2872 -
2873 -719
2874 -00:48:08,790 ~-~-> 00:48:11,250
2875 -here, generally if for day trading, if you ever get an
2876 -
2877 -720
2878 -00:48:11,250 ~-~-> 00:48:15,000
2879 -explosive move, I want to be out at this point here, and I'm
2880 -
2881 -721
2882 -00:48:15,000 ~-~-> 00:48:19,650
2883 -content with. If it runs more, I don't care. I'm not a long
2884 -
2885 -722
2886 -00:48:19,650 ~-~-> 00:48:22,230
2887 -term position trader, and it could continue for six months.
2888 -
2889 -723
2890 -00:48:22,230 ~-~-> 00:48:25,500
2891 -And everybody can say, Yeah, but you missed this it ICT and
2892 -
2893 -724
2894 -00:48:25,500 ~-~-> 00:48:28,320
2895 -it's I'm not interested, I could care less. I want
2896 -
2897 -725
2898 -00:48:28,620 ~-~-> 00:48:31,980
2899 -consistency. I want continuity. And I want the ability to be
2900 -
2901 -726
2902 -00:48:31,980 ~-~-> 00:48:34,110
2903 -able to see these things repeat over and over and over
2904 -
2905 -727
2906 -00:48:34,110 ~-~-> 00:48:39,510
2907 -again. trades, okay? For a neophyte are mysterious. They
2908 -
2909 -728
2910 -00:48:39,510 ~-~-> 00:48:42,390
2911 -sneak up on them, they surprise them. They're like, well,
2912 -
2913 -729
2914 -00:48:42,420 ~-~-> 00:48:44,430
2915 -what just happened? You ever noticed that when you get
2916 -
2917 -730
2918 -00:48:44,430 ~-~-> 00:48:49,740
2919 -online, and you see people on Twitter, Instagram, whatever,
2920 -
2921 -731
2922 -00:48:49,770 ~-~-> 00:48:54,150
2923 -okay. Yeah, any of these chat room things, these these trade
2924 -
2925 -732
2926 -00:48:54,150 ~-~-> 00:48:56,970
2927 -rooms, they're all like surprised Whoa, what happened with
2928 -
2929 -733
2930 -00:48:56,970 ~-~-> 00:48:59,550
2931 -the so and so and now they're only interested in that pair
2932 -
2933 -734
2934 -00:48:59,550 ~-~-> 00:49:04,740
2935 -or that mark? as it moved, you are not going to be
2936 -
2937 -735
2938 -00:49:04,740 ~-~-> 00:49:09,600
2939 -surprised. You're going to be anticipating, okay, you're
2940 -
2941 -736
2942 -00:49:09,600 ~-~-> 00:49:12,750
2943 -gonna be anticipating. And by anticipating things occurring
2944 -
2945 -737
2946 -00:49:12,780 ~-~-> 00:49:17,250
2947 -around a specific time of day around a rule based idea and a
2948 -
2949 -738
2950 -00:49:17,250 ~-~-> 00:49:19,650
2951 -pattern that you're familiar with, and seen over and over
2952 -
2953 -739
2954 -00:49:19,650 ~-~-> 00:49:22,740
2955 -again. Now let's go back to that analogy about buying a car
2956 -
2957 -740
2958 -00:49:22,920 ~-~-> 00:49:26,190
2959 -that you have a lot of affinity for. It's a sports car or
2960 -
2961 -741
2962 -00:49:26,190 ~-~-> 00:49:29,520
2963 -it's a luxury car. You like this car, you can't imagine
2964 -
2965 -742
2966 -00:49:29,520 ~-~-> 00:49:33,090
2967 -being anything else but the driver of that car and you buy
2968 -
2969 -743
2970 -00:49:33,090 ~-~-> 00:49:36,000
2971 -it, you bring it home. Remember, generally when you look
2972 -
2973 -744
2974 -00:49:36,000 ~-~-> 00:49:40,110
2975 -around, very soon after taking you home, you will start
2976 -
2977 -745
2978 -00:49:40,110 ~-~-> 00:49:42,450
2979 -seeing that car more because you have
2980 -
2981 -746
2982 -00:49:43,740 ~-~-> 00:49:49,710
2983 -activated your filter in your your attention, to elect to
2984 -
2985 -747
2986 -00:49:49,710 ~-~-> 00:49:54,330
2987 -let these cars, get your attention. Okay, and that's what
2988 -
2989 -748
2990 -00:49:54,330 ~-~-> 00:49:56,940
2991 -you're doing. You're teaching yourself to see this pattern
2992 -
2993 -749
2994 -00:49:56,970 ~-~-> 00:50:01,320
2995 -over and over and over again in price action and By default,
2996 -
2997 -750
2998 -00:50:01,770 ~-~-> 00:50:06,150
2999 -what happens is, when you start seeing it form live with
3000 -
3001 -751
3002 -00:50:06,150 ~-~-> 00:50:08,910
3003 -everything on your chart annotating the time of day, what
3004 -
3005 -752
3006 -00:50:08,910 ~-~-> 00:50:10,590
3007 -you're anticipating in terms of the direction that it's
3008 -
3009 -753
3010 -00:50:10,590 ~-~-> 00:50:13,470
3011 -supposed to expand up or down relative to the market being
3012 -
3013 -754
3014 -00:50:13,470 ~-~-> 00:50:16,500
3015 -bullish or bearish relative to it running the previous day's
3016 -
3017 -755
3018 -00:50:16,500 ~-~-> 00:50:22,440
3019 -high or low. You will see the pattern form live. And you'll
3020 -
3021 -756
3022 -00:50:22,440 ~-~-> 00:50:25,080
3023 -know what it looks like and you'll trust what you have
3024 -
3025 -757
3026 -00:50:25,080 ~-~-> 00:50:30,180
3027 -practice in hindsight, weeks and months of it. And now, when
3028 -
3029 -758
3030 -00:50:30,180 ~-~-> 00:50:33,690
3031 -you watch price action live, it'll be like, I see it. It's
3032 -
3033 -759
3034 -00:50:33,690 ~-~-> 00:50:38,310
3035 -right there. And you won't be surprised. You won't be taken
3036 -
3037 -760
3038 -00:50:38,310 ~-~-> 00:50:41,670
3039 -back like wow, where did that this come from? Price is
3040 -
3041 -761
3042 -00:50:41,670 ~-~-> 00:50:47,640
3043 -algorithmic. It repeats every single day on elements of time
3044 -
3045 -762
3046 -00:50:47,940 ~-~-> 00:50:52,230
3047 -and price. It does not work on magic Fibonacci, the
3048 -
3049 -763
3050 -00:50:52,230 ~-~-> 00:50:56,940
3051 -Fibonacci is just a way for me to frame the context. The use
3052 -
3053 -764
3054 -00:50:56,940 ~-~-> 00:51:00,990
3055 -this pattern, okay, I didn't reinvent flip nachi I'm not
3056 -
3057 -765
3058 -00:51:00,990 ~-~-> 00:51:04,200
3059 -trying to claim claim the three quarter pullback of a
3060 -
3061 -766
3062 -00:51:04,200 ~-~-> 00:51:09,810
3063 -Fibonacci is mine, the logic of using the fib with time and
3064 -
3065 -767
3066 -00:51:09,810 ~-~-> 00:51:12,180
3067 -the element of market structure that's me, that's my that's
3068 -
3069 -768
3070 -00:51:12,180 ~-~-> 00:51:15,900
3071 -why it's called optimal trade entry. OTS is an abbreviation
3072 -
3073 -769
3074 -00:51:15,900 ~-~-> 00:51:19,050
3075 -of those three words. What makes it optimal is it's
3076 -
3077 -770
3078 -00:51:19,050 ~-~-> 00:51:23,340
3079 -occurring at a time of day when the market will likely spool
3080 -
3081 -771
3082 -00:51:23,490 ~-~-> 00:51:26,580
3083 -in spread out in one particular direction over the other. So
3084 -
3085 -772
3086 -00:51:26,580 ~-~-> 00:51:30,240
3087 -it's more inclined to go higher or lower relative to the
3088 -
3089 -773
3090 -00:51:30,240 ~-~-> 00:51:34,230
3091 -things that I'm showing here. Alright, so anyway, so we have
3092 -
3093 -774
3094 -00:51:34,230 ~-~-> 00:51:37,260
3095 -two opportunities here for scaling one, two, and this is the
3096 -
3097 -775
3098 -00:51:37,260 ~-~-> 00:51:41,790
3099 -target where you would want to get out at the market trading
3100 -
3101 -776
3102 -00:51:41,790 ~-~-> 00:51:46,020
3103 -right now. It's just about midpoint of that. And here, now
3104 -
3105 -777
3106 -00:51:46,020 ~-~-> 00:51:49,260
3107 -you can use this midpoint, which I don't have a fib. If you
3108 -
3109 -778
3110 -00:51:49,260 ~-~-> 00:51:55,710
3111 -want to add a fib for that level, it would be negative 1.0
3112 -
3113 -779
3114 -00:51:56,520 ~-~-> 00:51:59,640
3115 -and that would give you a line right here. I just don't care
3116 -
3117 -780
3118 -00:51:59,640 ~-~-> 00:52:04,200
3119 -to have it. In this point where the market is running, you
3120 -
3121 -781
3122 -00:52:04,200 ~-~-> 00:52:08,580
3123 -want to have your stop loss below some point of support or
3124 -
3125 -782
3126 -00:52:08,580 ~-~-> 00:52:14,520
3127 -structure that would Yes, make your stop be part of a pool
3128 -
3129 -783
3130 -00:52:14,520 ~-~-> 00:52:17,400
3131 -of sell side liquidity or where a bank of sell stops would
3132 -
3133 -784
3134 -00:52:17,400 ~-~-> 00:52:21,600
3135 -be, but you have already in theory taken one or two portions
3136 -
3137 -785
3138 -00:52:21,630 ~-~-> 00:52:26,010
3139 -of profit out and your stock would just be above breakeven.
3140 -
3141 -786
3142 -00:52:26,040 ~-~-> 00:52:29,340
3143 -So you want to look at where you are in terms of the current
3144 -
3145 -787
3146 -00:52:29,340 ~-~-> 00:52:32,370
3147 -market structure. We had a run here it retraced and then
3148 -
3149 -788
3150 -00:52:32,370 ~-~-> 00:52:36,330
3151 -rallied up multiple turns lower, so retrace multiple times.
3152 -
3153 -789
3154 -00:52:36,930 ~-~-> 00:52:40,530
3155 -I like the idea of moving stock below here. Not below here.
3156 -
3157 -790
3158 -00:52:41,430 ~-~-> 00:52:45,660
3159 -Okay, not below here. Why? Because this one we already had a
3160 -
3161 -791
3162 -00:52:45,660 ~-~-> 00:52:49,500
3163 -run below these lows here and then we broke to new highs. We
3164 -
3165 -792
3166 -00:52:49,500 ~-~-> 00:52:52,740
3167 -had a retracement to this low and retracement to this low
3168 -
3169 -793
3170 -00:52:52,770 ~-~-> 00:52:56,250
3171 -which is basically the relative equal lows. So it could
3172 -
3173 -794
3174 -00:52:56,280 ~-~-> 00:53:00,120
3175 -still get below here. It could break down. Hit that They'll
3176 -
3177 -795
3178 -00:53:00,120 ~-~-> 00:53:02,880
3179 -go higher, longer term and I would miss out on that move,
3180 -
3181 -796
3182 -00:53:03,060 ~-~-> 00:53:07,350
3183 -just trying to choke the trade with a really, really tight
3184 -
3185 -797
3186 -00:53:07,350 ~-~-> 00:53:12,030
3187 -stop loss, which is not advisable. So we have this low
3188 -
3189 -798
3190 -00:53:12,030 ~-~-> 00:53:15,600
3191 -that's much more appropriate for trailing stop loss and not
3192 -
3193 -799
3194 -00:53:15,600 ~-~-> 00:53:19,950
3195 -jamming it up too tight and not giving the market room to
3196 -
3197 -800
3198 -00:53:19,950 ~-~-> 00:53:23,700
3199 -breathe, especially because we're tracing this on a five
3200 -
3201 -801
3202 -00:53:23,700 ~-~-> 00:53:27,300
3203 -minute chart. So the idea again, is we're looking for day
3204 -
3205 -802
3206 -00:53:27,300 ~-~-> 00:53:31,350
3207 -trades, and not hold this thing for four weeks, not even for
3208 -
3209 -803
3210 -00:53:31,350 ~-~-> 00:53:34,080
3211 -multiple days. But this is how you would manage your trade.
3212 -
3213 -804
3214 -00:53:34,080 ~-~-> 00:53:39,360
3215 -So if all this occurred inside of the same trading day or
3216 -
3217 -805
3218 -00:53:39,360 ~-~-> 00:53:43,470
3219 -same few hours, say it moves say all this movement here
3220 -
3221 -806
3222 -00:53:43,500 ~-~-> 00:53:46,770
3223 -occurred in a little bit less time. The same thing I'm
3224 -
3225 -807
3226 -00:53:46,770 ~-~-> 00:53:49,140
3227 -showing you here in terms of when you would move your stop
3228 -
3229 -808
3230 -00:53:49,710 ~-~-> 00:53:52,800
3231 -would be the same thing. This is we have a reaction and we
3232 -
3233 -809
3234 -00:53:52,800 ~-~-> 00:53:55,680
3235 -have two higher reactions. You don't want to put your stop
3236 -
3237 -810
3238 -00:53:55,680 ~-~-> 00:53:59,460
3239 -loss at the nearest area where stops would be everybody else
3240 -
3241 -811
3242 -00:53:59,460 ~-~-> 00:54:03,210
3243 -has their stop. loss below this low or here, mine would be
3244 -
3245 -812
3246 -00:54:03,210 ~-~-> 00:54:06,660
3247 -down here. And I already banked two positions or two
3248 -
3249 -813
3250 -00:54:06,660 ~-~-> 00:54:11,850
3251 -scalings. Okay, so if it gets to 6550 and nine PIP bets you
3252 -
3253 -814
3254 -00:54:11,850 ~-~-> 00:54:14,880
3255 -would collapse the entire trade and be done and be content
3256 -
3257 -815
3258 -00:54:14,880 ~-~-> 00:54:18,630
3259 -with that. So you would be so basically getting around 100
3260 -
3261 -816
3262 -00:54:18,630 ~-~-> 00:54:24,090
3263 -pips movement from this particular trade with three partials
3264 -
3265 -817
3266 -00:54:24,540 ~-~-> 00:54:29,550
3267 -or the final collapse here. Now if this level was higher up,
3268 -
3269 -818
3270 -00:54:30,450 ~-~-> 00:54:33,180
3271 -okay, so no matter if you weren't getting this range here,
3272 -
3273 -819
3274 -00:54:34,590 ~-~-> 00:54:38,820
3275 -and it allowed for 100 pips, but 100 pips occurs before the
3276 -
3277 -820
3278 -00:54:39,240 ~-~-> 00:54:41,910
3279 -two standard deviations of the initial range to create your
3280 -
3281 -821
3282 -00:54:41,910 ~-~-> 00:54:45,480
3283 -fib. So this is your range. This is one standard deviation
3284 -
3285 -822
3286 -00:54:45,480 ~-~-> 00:54:47,850
3287 -over here. And then the other standard deviation would be
3288 -
3289 -823
3290 -00:54:47,850 ~-~-> 00:54:54,090
3291 -here. If this level is above 100, pips, okay, and what's if
3292 -
3293 -824
3294 -00:54:54,090 ~-~-> 00:54:59,970
3295 -this range here was like 6562, nine, okay, that would be
3296 -
3297 -825
3298 -00:54:59,970 ~-~-> 00:55:04,740
3299 -awesome. 110 pips from your entry, you would take a partial
3300 -
3301 -826
3302 -00:55:04,740 ~-~-> 00:55:09,870
3303 -at 100 pips flat, simply just take 100 pips bank something
3304 -
3305 -827
3306 -00:55:09,870 ~-~-> 00:55:12,510
3307 -there as well. So there's your rules. It's very simple.
3308 -
3309 -828
3310 -00:55:12,810 ~-~-> 00:55:15,120
3311 -those rules I've given you if you missed it if you weren't
3312 -
3313 -829
3314 -00:55:15,120 ~-~-> 00:55:17,820
3315 -really taking those, go back and watch the video again and
3316 -
3317 -830
3318 -00:55:17,820 ~-~-> 00:55:21,990
3319 -listen very carefully, because I gave you very specific
3320 -
3321 -831
3322 -00:55:21,990 ~-~-> 00:55:26,310
3323 -criteria about when to move a stop, what entry price you
3324 -
3325 -832
3326 -00:55:26,310 ~-~-> 00:55:30,120
3327 -would look for where your stop loss would be, and where you
3328 -
3329 -833
3330 -00:55:30,120 ~-~-> 00:55:34,590
3331 -take partials. And when you graduate that stop and what you
3332 -
3333 -834
3334 -00:55:34,590 ~-~-> 00:55:38,970
3335 -avoid doing when moving the stop not trying to choke the
3336 -
3337 -835
3338 -00:55:38,970 ~-~-> 00:55:43,050
3339 -trade out by having a stop loss, you know, right under here,
3340 -
3341 -836
3342 -00:55:43,200 ~-~-> 00:55:45,780
3343 -or right under here or because this looks like it's support.
3344 -
3345 -837
3346 -00:55:45,810 ~-~-> 00:55:48,720
3347 -You know, there you go put your stop loss there. There's a
3348 -
3349 -838
3350 -00:55:48,720 ~-~-> 00:55:52,920
3351 -lot of people in this period now they have cell stops right
3352 -
3353 -839
3354 -00:55:52,920 ~-~-> 00:55:55,680
3355 -below here. They may have been lucky they went long here.
3356 -
3357 -840
3358 -00:55:55,680 ~-~-> 00:55:58,920
3359 -Maybe they went here, or they bought here and just wrote it
3360 -
3361 -841
3362 -00:55:58,920 ~-~-> 00:56:00,900
3363 -out because they only use Tough luck. But now they want to
3364 -
3365 -842
3366 -00:56:00,900 ~-~-> 00:56:03,750
3367 -put a stoploss in their thinking here.
3368 -
3369 -843
3370 -00:56:04,110 ~-~-> 00:56:08,070
3371 -Okay, so I use market structure to help me manage a trade
3372 -
3373 -844
3374 -00:56:08,610 ~-~-> 00:56:11,490
3375 -and market structure you can learn that it's on my YouTube
3376 -
3377 -845
3378 -00:56:11,490 ~-~-> 00:56:15,270
3379 -channel as well but this low here I want to put my stop at
3380 -
3381 -846
3382 -00:56:15,840 ~-~-> 00:56:20,760
3383 -this low and not something ultra super tight because just
3384 -
3385 -847
3386 -00:56:20,760 ~-~-> 00:56:25,560
3387 -normal gyrations okay or quick, sudden retracement lower and
3388 -
3389 -848
3390 -00:56:25,560 ~-~-> 00:56:29,160
3391 -still be viable for the trade going higher would knock you
3392 -
3393 -849
3394 -00:56:29,160 ~-~-> 00:56:31,890
3395 -out prematurely and you would miss the opportunity of
3396 -
3397 -850
3398 -00:56:31,950 ~-~-> 00:56:35,730
3399 -allowing yourself taking out 100 pips or where the second
3400 -
3401 -851
3402 -00:56:35,730 ~-~-> 00:56:37,980
3403 -standard deviation would be for your ultimate target.
3404 -
3405 -852
3406 -00:56:38,370 ~-~-> 00:56:42,210
3407 -Alright. So hopefully you guys got something from this, I'll
3408 -
3409 -853
3410 -00:56:42,210 ~-~-> 00:56:44,850
3411 -try to give you something every single day it will not be
3412 -
3413 -854
3414 -00:56:44,850 ~-~-> 00:56:48,510
3415 -this in depth. Okay, so the rules have been applied and
3416 -
3417 -855
3418 -00:56:48,540 ~-~-> 00:56:51,780
3419 -shared with you in this video. And I'll always refer back to
3420 -
3421 -856
3422 -00:56:51,780 ~-~-> 00:56:55,890
3423 -this video when there's any discussion about when stops
3424 -
3425 -857
3426 -00:56:55,890 ~-~-> 00:56:58,800
3427 -removed, how you take partials and what the general
3428 -
3429 -858
3430 -00:56:58,800 ~-~-> 00:57:03,600
3431 -principle of this pattern is okay. It'll be a five minute or
3432 -
3433 -859
3434 -00:57:03,600 ~-~-> 00:57:07,170
3435 -less many times that are probably less than four minutes
3436 -
3437 -860
3438 -00:57:07,200 ~-~-> 00:57:09,330
3439 -because this is going to be me saying, okay, here's your
3440 -
3441 -861
3442 -00:57:09,330 ~-~-> 00:57:13,320
3443 -chart. These are the levels. And here's what it looks like.
3444 -
3445 -862
3446 -00:57:13,350 ~-~-> 00:57:15,690
3447 -It'll be just all the annotation on the chart. And it'll be
3448 -
3449 -863
3450 -00:57:15,690 ~-~-> 00:57:19,440
3451 -me saying, take care. God bless and good luck good trading.
3452 -
3453 -864
3454 -00:57:20,400 ~-~-> 00:57:23,460
3455 -And with that, I'm going to close this one and do that very
3456 -
3457 -865
3458 -00:57:23,460 ~-~-> 00:57:25,200
3459 -thing. wish good luck and good trading.