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Last modified by Drunk Monkey on 2021-06-10 10:00
From version 1.1
edited by Drunk Monkey
on 2020-11-20 16:21
Change comment: There is no comment for this version
To version 2.1
edited by Drunk Monkey
on 2021-06-10 10:00
Change comment: There is no comment for this version

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1 -1
2 -00:00:11,190 ~-~-> 00:00:14,190
3 -ICT: Welcome back folks, this is the second of a series of
1 +(% class="hover min" %)
2 +|1 |00:00:11,190 ~-~-> 00:00:22,860 |ICT: Welcome back, folks, this is the second of a series of 20 videos making up the ICT optimal trade entry pattern recognition series. And we're looking at the
3 +|2 |00:00:22,890 ~-~-> 00:00:36,210 |Japanese yen today or specifically dollar yen. So this is our daily chart and I want you to take a look at this chart and consider what may be unfolding. Why
4 +|3 |00:00:36,210 ~-~-> 00:00:51,300 |we're getting reactions why we would expect to see a reaction right? So gonna take our fit from this low to this high is the swing low swing high. It'll be a
5 +|4 |00:00:51,300 ~-~-> 00:01:14,220 |term reaction price points low to high. Okay, and I will do is continue this out in time and you'll see how price eventually trades into optimal trade entry for
6 +|5 |00:01:14,880 ~-~-> 00:01:31,290 |the daily timeframe. Alright, so if price were lower than this one, this swing, we will use this low drug from here up to here, but you want to work with what
7 +|6 |00:01:31,290 ~-~-> 00:01:44,190 |range you have available. Set in the yen on the daily we know that we entered into or below the 60% retracement level three days ago and yesterday or
8 +|7 |00:01:44,190 ~-~-> 00:01:56,310 |Thursday's trading. We pierced the previous day's high or Wednesday's high look at the high. Here's right here. Look at this number here. Wednesday's high comes
9 +|8 |00:01:56,310 ~-~-> 00:02:11,670 |in at 106. point six to nine. Thursday's trading goes to 106 point 657. So we went above Wednesday's high we could potentially be seeing a turn or an
10 +|9 |00:02:11,670 ~-~-> 00:02:22,410 |expansion on the upside. It's already shown a willingness to go higher than the previous day's range. So now we're going to look at Thursday's high, which is
11 +|10 |00:02:22,830 ~-~-> 00:02:33,330 |106 point six, five and seven pivots. Okay, so that's our level. Now we're gonna drop down into a five minute chart guide. So here's our dollar yen five minute
12 +|11 |00:02:33,330 ~-~-> 00:02:44,850 |chart. And we'll give you a moment to take a look at this, pause the video and study what you think you see here. And when you're ready, just unpause the video
13 +|12 |00:02:44,850 ~-~-> 00:02:58,980 |and watch the explanation for the pattern recognition exam for today. Okay, so here's what we're gonna do, we're gonna take a look at the annotations for
14 +|13 |00:02:58,980 ~-~-> 00:03:15,240 |today, here is the previous day's range. And the previous day's range is defined from here to here. So we're expecting a run above the previous day's high. So
15 +|14 |00:03:15,240 ~-~-> 00:03:33,870 |here's previous day's high at that 106 point 657 level. And we're looking for a reason to get long to target this high. And we could see from the previous day's
16 +|15 |00:03:33,930 ~-~-> 00:03:50,490 |range, we have this low, up to this high. And then all the way over to our New York session time. From 8:30am, New York time to 11am New York time. You see the
17 +|16 |00:03:50,490 ~-~-> 00:04:02,280 |vertical lines as I outline yesterday, we'll take these off to keep things clean. You can see how price drops down into it here. And we're going to assume
18 +|17 |00:04:02,310 ~-~-> 00:04:15,780 |that 106314 is that 16% change in level. So we're going to just round it to the nearest five at that. So 106 point 315 would be our entry below the low our
19 +|18 |00:04:15,780 ~-~-> 00:04:31,080 |stock will be at 106 point 215. So it's a 10 PIP stop optimal trade entry, old high that makes the range of the Fed comes in at 15 pips so it meets our minimum
20 +|19 |00:04:31,080 ~-~-> 00:04:42,750 |criteria for the first scaling. So if you take profits there, second scaling for around 25 pips here and we're still below previous day's high. The next level at
21 +|20 |00:04:42,750 ~-~-> 00:04:51,810 |the fib, which is a 10 level is nice because it's above the previous day's high and it's a 10 level so we could take a third scaling out there for round
22 +|21 |00:04:51,810 ~-~-> 00:05:03,930 |approximately 40 pips Additionally you can see this swing here from this low to this high being one 234 another optimal trade entry cuz you can see the low
23 +|22 |00:05:03,930 ~-~-> 00:05:12,810 |comes in just at 1055 sets five minutes before the end of our New York session for limited time.
24 +|23 |00:05:14,610 ~-~-> 00:05:24,450 |You can see we run this old high here. So from here to here, there's another opportunity you can study on your own and annotate your chart and you can see
25 +|24 |00:05:24,450 ~-~-> 00:05:29,400 |where we closed for the day. Hope you found this insightful till next time. I wish you good luck and good trading.
4 4  
5 -2
6 -00:00:14,190 ~-~-> 00:00:19,620
7 -20 videos making up the ICT optimal trade entry pattern
8 -
9 -3
10 -00:00:19,620 ~-~-> 00:00:23,820
11 -recognition series. And we're looking at the Japanese yen
12 -
13 -4
14 -00:00:23,820 ~-~-> 00:00:28,770
15 -today or specifically dollar yen. Alright, so this is our
16 -
17 -5
18 -00:00:28,770 ~-~-> 00:00:31,920
19 -daily chart and I want you to take a look at this chart and
20 -
21 -6
22 -00:00:31,980 ~-~-> 00:00:37,200
23 -consider what may be unfolding. Why we're getting reactions
24 -
25 -7
26 -00:00:37,200 ~-~-> 00:00:43,080
27 -or why we would expect to see a reaction right so gonna take
28 -
29 -8
30 -00:00:43,830 ~-~-> 00:00:48,150
31 -our fit from this low to this high. This is a swing low
32 -
33 -9
34 -00:00:49,050 ~-~-> 00:00:53,400
35 -swing high, intermediate term reaction price points
36 -
37 -10
38 -00:00:56,340 ~-~-> 00:00:59,970
39 -low to high
40 -
41 -11
42 -00:01:01,770 ~-~-> 00:01:09,000
43 -Okay, and all we'll do is continue this out in time and
44 -
45 -12
46 -00:01:09,000 ~-~-> 00:01:12,960
47 -you'll see how price eventually trades into the optimal
48 -
49 -13
50 -00:01:12,960 ~-~-> 00:01:20,670
51 -trade entry for the daily timeframe. All right, so if price
52 -
53 -14
54 -00:01:20,670 ~-~-> 00:01:26,550
55 -were lower than this, on this swing, we would use this low
56 -
57 -15
58 -00:01:26,550 ~-~-> 00:01:31,260
59 -drug from here, up to here, but you want to work with what
60 -
61 -16
62 -00:01:31,260 ~-~-> 00:01:35,520
63 -range you have available. So in the end on the daily, we
64 -
65 -17
66 -00:01:35,520 ~-~-> 00:01:39,810
67 -know that we entered into or below the 60% retracement level
68 -
69 -18
70 -00:01:40,860 ~-~-> 00:01:46,050
71 -three days ago and yesterday or Thursday's trading, we
72 -
73 -19
74 -00:01:46,050 ~-~-> 00:01:48,690
75 -pierced the previous day's high or Wednesday's high look at
76 -
77 -20
78 -00:01:48,690 ~-~-> 00:01:53,910
79 -the high. Here's right here. Look at this number here.
80 -
81 -21
82 -00:01:54,630 ~-~-> 00:01:59,940
83 -Wednesday's high comes in at 106 point six to nine
84 -
85 -22
86 -00:02:00,690 ~-~-> 00:02:06,270
87 -Thursday's trading goes to 106 point 657. So we went above
88 -
89 -23
90 -00:02:06,450 ~-~-> 00:02:11,550
91 -Wednesday's high, we could potentially be seeing a turn or
92 -
93 -24
94 -00:02:11,550 ~-~-> 00:02:15,330
95 -an expansion on the upside. It's already shown a willingness
96 -
97 -25
98 -00:02:15,330 ~-~-> 00:02:19,620
99 -to go higher than the previous day's range. So now we're
100 -
101 -26
102 -00:02:19,620 ~-~-> 00:02:24,930
103 -going to look at Thursday's high, which is 106 point six,
104 -
105 -27
106 -00:02:24,930 ~-~-> 00:02:28,530
107 -five and seven pipettes. Okay, so that's our level. And
108 -
109 -28
110 -00:02:28,530 ~-~-> 00:02:31,530
111 -we're going to drop down into a five minute chart and say,
112 -
113 -29
114 -00:02:31,530 ~-~-> 00:02:34,980
115 -here's our dollar yen five minute chart. And we'll give you
116 -
117 -30
118 -00:02:34,980 ~-~-> 00:02:39,030
119 -a moment to take a look at this. Pause the video and study
120 -
121 -31
122 -00:02:39,060 ~-~-> 00:02:43,800
123 -what you think you see here. And when you're ready, just
124 -
125 -32
126 -00:02:43,950 ~-~-> 00:02:47,820
127 -unpause the video and watch the explanation for the pattern
128 -
129 -33
130 -00:02:47,820 ~-~-> 00:02:49,200
131 -recognition exam for today.
132 -
133 -34
134 -00:02:52,740 ~-~-> 00:02:54,570
135 -Okay, so here's what we're gonna do. We're gonna take a look
136 -
137 -35
138 -00:02:54,600 ~-~-> 00:02:55,020
139 -at
140 -
141 -36
142 -00:02:57,690 ~-~-> 00:03:02,970
143 -the annotations for today. Here is the previous day's range.
144 -
145 -37
146 -00:03:04,589 ~-~-> 00:03:07,289
147 -And the previous day's range is defined from here
148 -
149 -38
150 -00:03:09,389 ~-~-> 00:03:09,959
151 -to here.
152 -
153 -39
154 -00:03:11,219 ~-~-> 00:03:15,209
155 -So we're expecting a run above the previous day's high. So
156 -
157 -40
158 -00:03:15,209 ~-~-> 00:03:22,229
159 -here's previous day's high at that 106 point 657 level. And
160 -
161 -41
162 -00:03:22,259 ~-~-> 00:03:28,169
163 -we're looking for a reason to get long to target this high.
164 -
165 -42
166 -00:03:30,929 ~-~-> 00:03:35,369
167 -And we can see from the previous day's range, we have this
168 -
169 -43
170 -00:03:35,369 ~-~-> 00:03:41,429
171 -low, up to this high and then all the way over to our New
172 -
173 -44
174 -00:03:41,429 ~-~-> 00:03:48,029
175 -York session time. From 8:30am New York time to 11am New
176 -
177 -45
178 -00:03:48,029 ~-~-> 00:03:51,629
179 -York time. You see the vertical lines as I outlined
180 -
181 -46
182 -00:03:51,629 ~-~-> 00:03:59,069
183 -yesterday. We'll take these off to keep things clean. You
184 -
185 -47
186 -00:03:59,069 ~-~-> 00:04:01,799
187 -can see how price drops down into it here, and we're going
188 -
189 -48
190 -00:04:01,799 ~-~-> 00:04:07,889
191 -to assume that 106314 is that 60% inflation level. So we're
192 -
193 -49
194 -00:04:07,889 ~-~-> 00:04:11,519
195 -going to just round that to the nearest five hit that so 106
196 -
197 -50
198 -00:04:11,519 ~-~-> 00:04:16,349
199 -point 315 would be our entry. Below the low our stop will be
200 -
201 -51
202 -00:04:16,349 ~-~-> 00:04:21,989
203 -at one there 6.215 so it's a 10 PIP stop. Optimal trade
204 -
205 -52
206 -00:04:21,989 ~-~-> 00:04:29,399
207 -entry. Oh hi. That makes the range of fit comes in at 15
208 -
209 -53
210 -00:04:29,399 ~-~-> 00:04:32,489
211 -pips, so it meets our minimum criteria for the first scaling
212 -
213 -54
214 -00:04:32,549 ~-~-> 00:04:36,869
215 -so you could take profits there, second scaling for around
216 -
217 -55
218 -00:04:36,869 ~-~-> 00:04:41,429
219 -25 pips here and we're still below the previous day's high.
220 -
221 -56
222 -00:04:41,879 ~-~-> 00:04:45,839
223 -The next level at the fib, which is a 10 level is nice
224 -
225 -57
226 -00:04:45,839 ~-~-> 00:04:48,539
227 -because it's above the previous day's high and it's a 10
228 -
229 -58
230 -00:04:48,539 ~-~-> 00:04:51,809
231 -level so you can take a third scaling out there for around
232 -
233 -59
234 -00:04:51,809 ~-~-> 00:04:55,229
235 -approximately 40 pips. Additionally, you can see this swing
236 -
237 -60
238 -00:04:55,229 ~-~-> 00:05:02,459
239 -here from this low to this high being one 234 another
240 -
241 -61
242 -00:05:02,489 ~-~-> 00:05:05,219
243 -optimal trading because you can see the low comes in just at
244 -
245 -62
246 -00:05:05,459 ~-~-> 00:05:09,929
247 -1055. That's five minutes before the end of our New York
248 -
249 -63
250 -00:05:09,929 ~-~-> 00:05:17,039
251 -session for limited time. You can see we run this old high
252 -
253 -64
254 -00:05:17,039 ~-~-> 00:05:21,179
255 -here. So from here to here as another opportunity you can
256 -
257 -65
258 -00:05:21,179 ~-~-> 00:05:24,449
259 -study on your own and annotate your chart and you can see
260 -
261 -66
262 -00:05:24,449 ~-~-> 00:05:27,449
263 -where we closed for today. Hope you found this insightful
264 -
265 -67
266 -00:05:27,479 ~-~-> 00:05:29,399
267 -until next time, I wish you good luck and good trading.