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Version 1.1 by Drunk Monkey on 2020-11-20 16:22
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3 ICT: Okay, folks, welcome back. This is volume five in a
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7 series of 20 videos from the ICT optimal trade entry pattern
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11 recognition series. Alright, so we're looking at the E mini
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15 s&p, the June contract for 2020. And I've already given you
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19 an example with the s&p recently in this series, it was
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23 revolving around the previous week's Friday's high. And we
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27 put that on here now. So we projected that out that was an
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31 opportunity here and then later on, came back and gave an
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35 opportunity to trade into that level. Again, I said it once
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39 it got up into that level, I'd be done with that idea, that
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43 trade idea and has moved over 130 handles for the SMP, which
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47 is pretty significant, but the framework is obviously it's
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51 bearish leading up into the setup we're outlining here for
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55 our example for May 13 2020. So the previous day's low is
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59 here the 12th of may 2020. That's what we will be targeting,
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63 we're going to drop down into the five minute chart case,
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67 here's the five minute chart. And we're gonna put our
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71 lipstick on this pig here, here is the previous day or the
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75 12th low below that would be sell side liquidity. And we've
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79 already outlined the fact on that hourly chart the bearish
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83 market structure and seeking liquidity below the previous
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87 day's low. Here's our New York session. So inside of this
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91 area here Okay, we're looking for a set up and here's the hi
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95 we trade down to this low start retracing inside the New
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99 York session, trading up into the bearish order block which
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103 is that last up close candle right here towards the end of
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107 that and your entry would be 28 65 in theory stop would be
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111 above the high here, trading down to the low the optimal
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115 trade entry since we're dealing with the SMP, we're not
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119 talking about pips, so we're dealing specifically with the
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123 range. So the range low would offer over 30 handles on the
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127 SMP and then a second partial at plus 50 handles at half of
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131 the projected standard deviation. In other words, the range
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135 is here. Okay, so we have this high to this low, half that
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139 range is this level, that's what this is all about. And then
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143 one full standard deviation of this range or projection down
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147 would send us into that 2788 and three quarters for plus 75.
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151 handles for your third partial Look, the beautiful response
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155 to that. Now this is all again, based on the liquidity below
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159 the previous day's low. It's not the magic of the fib fib
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163 has absolutely nothing to do with the reasons why price is
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167 going down and the reason why it's going down there. is
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171 there's liquidity resting below this low markets gonna seek
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175 that liquidity not always in a single run down into it and I
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179 take several passes to get down to it as it does here and
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183 then we had a nice little retracement there. And we'll
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187 probably look for gravitate back to the 12th or the low of
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191 the 12th rather. So that's gonna be it for this example. I
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195 hope you found it insightful. Until next time, I wish you
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199 good luck and good trading.