OTE Pattern Recognition Series - Vol 05.srt

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ICT: Okay, folks, welcome back. This is volume five in a

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series of 20 videos from the ICT optimal trade entry pattern

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recognition series. Alright, so we're looking at the E mini

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s&p, the June contract for 2020. And I've already given you

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an example with the s&p recently in this series, it was

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revolving around the previous week's Friday's high. And we

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put that on here now. So we projected that out that was an

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opportunity here and then later on, came back and gave an

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opportunity to trade into that level. Again, I said it once

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it got up into that level, I'd be done with that idea, that

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trade idea and has moved over 130 handles for the SMP, which

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is pretty significant, but the framework is obviously it's

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bearish leading up into the setup we're outlining here for

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our example for May 13 2020. So the previous day's low is

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here the 12th of may 2020. That's what we will be targeting,

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we're going to drop down into the five minute chart case,

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here's the five minute chart. And we're gonna put our

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lipstick on this pig here, here is the previous day or the

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12th low below that would be sell side liquidity. And we've

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already outlined the fact on that hourly chart the bearish

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market structure and seeking liquidity below the previous

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day's low. Here's our New York session. So inside of this

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area here Okay, we're looking for a set up and here's the hi

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we trade down to this low start retracing inside the New

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York session, trading up into the bearish order block which

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is that last up close candle right here towards the end of

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that and your entry would be 28 65 in theory stop would be

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above the high here, trading down to the low the optimal

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trade entry since we're dealing with the SMP, we're not

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talking about pips, so we're dealing specifically with the

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range. So the range low would offer over 30 handles on the

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SMP and then a second partial at plus 50 handles at half of

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the projected standard deviation. In other words, the range

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is here. Okay, so we have this high to this low, half that

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range is this level, that's what this is all about. And then

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one full standard deviation of this range or projection down

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would send us into that 2788 and three quarters for plus 75.

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handles for your third partial Look, the beautiful response

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to that. Now this is all again, based on the liquidity below

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the previous day's low. It's not the magic of the fib fib

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has absolutely nothing to do with the reasons why price is

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going down and the reason why it's going down there. is

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there's liquidity resting below this low markets gonna seek

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that liquidity not always in a single run down into it and I

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take several passes to get down to it as it does here and

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then we had a nice little retracement there. And we'll

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probably look for gravitate back to the 12th or the low of

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the 12th rather. So that's gonna be it for this example. I

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hope you found it insightful. Until next time, I wish you

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good luck and good trading.