OTE Pattern Recognition Series - Vol 08.srt

Last modified by Drunk Monkey on 2021-06-10 10:01
1 00:00:10,980 --> 00:00:19,110 ICT: Welcome back, folks, this is the ICT optimal trade entry pattern recognition series, volume number eight, and a series of 20 videos and today's
2 00:00:19,110 --> 00:00:29,880 episode is going to be featuring the British Pound cable. Alright, so we already have our chart set to the five minute time frame. Alright, so we're going to put
3 00:00:29,880 --> 00:00:37,950 some lipstick on this. And the reason why I'm going through it a little bit quicker than normal this, I'm going to show you a playback of a trade actually.
4 00:00:39,180 --> 00:00:51,240 It's being shown here. Friday, here's Friday's high, and this is Sunday's trading. So for trading on Monday, disregard Sunday, consider Friday. Okay,
5 00:00:51,240 --> 00:01:09,270 Friday's high Friday's low New York session 8:30am. Right there, all the way to 11am. New York time. And I'm going to zoom in to this little area right in here.
6 00:01:09,330 --> 00:01:21,660 Alright, so here's our five minute chart. And we're zoomed into Monday, May 18 2020. And again, the New York session area where we highlight specific setups
7 00:01:21,690 --> 00:01:32,790 for this model. And for some of you that are actually familiar with this channel, it's not the ICT, New York kilson, we're actually giving you a wide
8 00:01:32,820 --> 00:01:50,070 8:30am to 11am, which takes us up into a little bit towards the midpoint of London close. And the heart of New York open. So it's kind of like a Killzone in
9 00:01:50,070 --> 00:01:58,710 itself, but not the one everyone's familiar with. So I created this model just to share with the public. So that way, you guys can avoid having to pay anybody,
10 00:01:58,950 --> 00:02:05,640 okay, you don't have to pay for any education. You don't have to join all these chat rooms, you don't got to pay for these signal services. That's why I did
11 00:02:05,640 --> 00:02:12,540 this. Because I want to put those people out of business. I've already made my money. But they're all scratching the bottom of the barrel trying to get people
12 00:02:12,750 --> 00:02:20,040 to do something that they can't even make money with. So I'm proving it because I'm giving it to you for free. And it didn't work. It wouldn't be shown to you
13 00:02:20,040 --> 00:02:28,890 here every single day. Now, I've received a lot of flack already. And I've expected that as well. folks saying, well, these are all just hindsight
14 00:02:28,890 --> 00:02:38,670 examples. Anybody can see this stuff after the fact. And that's all you ever do ICT is hindsight. And I want to just remind you all that hindsight is how
15 00:02:38,820 --> 00:02:49,770 everyone starts. And this is a series basically the China inspire, and motivate individuals, because sometimes this industry can be rather daunting. There's a
16 00:02:49,770 --> 00:03:00,750 lot of things that are dangled in front of you, but they're mainly fluff, just about everyone I've seen on social media, and especially Instagram are all
17 00:03:00,750 --> 00:03:10,260 frauds, none of them make money, not with trading, okay. And I'm proving that I can not only do it myself, but I can also transfer that information to someone
18 00:03:10,260 --> 00:03:21,900 else, and they can do the same thing. So, with that spirit in mind, that's why I've done this video series is to show you how a setup that is worked with very
19 00:03:21,900 --> 00:03:30,300 specific rule based ideas around a specific time day, happens every single day, Monday through Friday, he can't ask for anything better than that. Alright, so
20 00:03:30,300 --> 00:03:43,650 looking at Friday's chart. Hi. So this line is up here. And we're gonna look at the optimal trade entry right here. Alright, so we're gonna take our fib and
21 00:03:43,650 --> 00:03:57,540 draw it from this key low here, what makes us a key low, I'll tell you in a second. So there's our fib. And we're going to extend this out in time. And
22 00:03:57,540 --> 00:04:11,280 again, I apologize, I want to keep these videos really, really short. But it's just gonna be a little bit more impactful if I show you the business. Alright,
23 00:04:11,280 --> 00:04:23,160 so here's the swing low. Here's our swing high, the retracement down into optimal trade entry in here. And you can see how price made a run above now.
24 00:04:23,460 --> 00:04:25,020 look very carefully.
25 00:04:26,400 --> 00:04:36,030 Did it get to half of the standard deviation that makes up the fib range? Okay, this is our dealing range to projection never even got to point 50 you don't
26 00:04:36,030 --> 00:04:48,630 need it to remember the fib is just a ballpark figure. Markets don't move on fibs. Okay, that's not what it is the Fibonacci okay. Just helps me frame an
27 00:04:48,630 --> 00:04:58,530 idea that is very visual to a new trader. Okay. There's other things that's going on inside this swing that I don't really require this Fibonacci and most
28 00:04:58,530 --> 00:05:07,770 of my students in the mentorship don't require this Fibonacci either. But for a lay audience, people that are just warming up to me and people that just simply
29 00:05:07,770 --> 00:05:17,850 want to come back and watch more ICT videos, know that I use the fib just to help frame the idea. It doesn't need the fib, you don't need it. But it helps
30 00:05:17,850 --> 00:05:31,200 give the foundation to a trader that can't really see key price swings in a trend or a fractal of price action. Alright, so with that said, you see price
31 00:05:31,200 --> 00:05:41,190 comes down hits the optimal trade entry, and I actually entered right on this candle. Okay, now I did this for a particular reason. It's not important for you
32 00:05:41,190 --> 00:05:51,180 to get actually right inside that optimal trade entry. You don't need to get that. Now, it's better if you can. But sometimes you're going to sit down in
33 00:05:51,180 --> 00:06:02,070 front of the charts. And this is what happened today. I was talking to my son.  And I'm trying to get him going in terms of learning how to do this on his own
34 00:06:02,070 --> 00:06:11,070 as well. And I sat down in front of the British Pound as I was talking to him.  That's okay, right now it's forming right now. And I went in real quick, open up
35 00:06:11,070 --> 00:06:25,200 tradingview. And I did a trade and entered it and did the whole thing. So the idea is that it was going to run this short term high. But using the parameters
36 00:06:25,200 --> 00:06:36,150 for this model that I've made for YouTube, reaching for an old high, which is Monday, reaching to Friday's high. And again, this is Friday's high price
37 00:06:36,150 --> 00:06:46,170 reaches up into it. And the whole business is running above these relative equal highs this high in this high. So it's gonna be liquidity above that. Alright. So
38 00:06:46,230 --> 00:06:54,180 yes, this is the pattern. And yes, this is what it looks like in hindsight. And yes, you can see the candles I entered on and the candle I exited on. So you can
39 00:06:54,180 --> 00:07:05,370 actually see a recording of this trade. And it seemed here, and I'll just let it play out real quick. And then we'll finish this video. So you can see the answer
40 00:07:05,370 --> 00:07:18,150 is their stock was it 2168. And I'm saying there's going to be a sudden expansion higher. And again, I'm showing you it's a live data pulled from
41 00:07:18,150 --> 00:07:26,760 trading at mean people over the years asked me to go on trading view. And I've done that I've abandoned mt four because it's proven that it can be faked and
42 00:07:27,240 --> 00:07:40,560 it's fraud. And here I am giving more of my commentary and again, drawing your focus up to those relative equal highs as an order block that could be tapped,
43 00:07:40,560 --> 00:07:53,730 but it's not necessary, nor it's allowing for it to go that low and it would not change the trade. It runs up and expands above that high. And it just repeats in
44 00:07:53,760 --> 00:08:06,060 loops over on Twitter. So you can see that if you're a member of my Twitter feed, and I've mentioned once in a while, if I feel inspired to do so I'll draw
45 00:08:06,060 --> 00:08:13,590 your attention to something that has my eye It doesn't mean I'm giving you an entry doesn't mean I'm giving you a stop and a target. I just draw everyone's
46 00:08:13,590 --> 00:08:24,240 attention to a specific market. And if you're familiar with my concepts, and if now if you're a student of this particular video series, then you'll know what I
47 00:08:24,240 --> 00:08:34,980 might be hinting at. And I don't play that both directions in whichever one pays out. I'm right there. I'm one side and either I'm right, or I'm wrong and I'll
48 00:08:34,980 --> 00:08:37,800 leave that for you to decide over the long term consistency.