OTE Pattern Recognition Series - Vol 09.srt

Last modified by Drunk Monkey on 2021-06-10 10:03
1 00:00:10,920 --> 00:00:20,190 ICT: Okay, folks, welcome back. This is volume number nine and a continuing series of 20 videos for the ICT optimal trade entry pattern recognition series
2 00:00:20,310 --> 00:00:34,230 for YouTube. Before I get into this, just as a reminder, you can also take a look at the British pound, pound versus dollar. And you'll see that it gave us a
3 00:00:34,350 --> 00:00:44,670 optimal trade entry during the New York session running out the previous day's high. So it's kinda like a twofer today, but I want to use the Euro Aussie today
4 00:00:44,670 --> 00:00:57,690 because it's a pair I don't do too much discussion about. And I want you to take a look at the low from the 18th over here. And this is going to be a question
5 00:00:57,690 --> 00:01:05,610 that's going to pop up if you haven't already had it come up in the progression through this series. What happens if the next day we go through it a little bit?
6 00:01:06,510 --> 00:01:17,370 But does go higher? Or just because it goes below it? And then we're expecting it to go below the previous day's low? Doesn't that negate taking a New York
7 00:01:17,370 --> 00:01:29,670 session trade? And the question is answered with simply now. As you'll see now, take a look at this. Here's Monday's low on the Euro Ozzy. So we protect that in
8 00:01:29,700 --> 00:01:39,750 future this is what are referred to as a shallow run. And basically it just leaves unfinished business. Okay, the markets running later at another time, run
9 00:01:39,750 --> 00:01:49,320 back for that liquidity just in the same capacity does it here. We have an old high from the 18th and it runs above it very shallow, then runs down below the
10 00:01:49,320 --> 00:01:58,530 Monday low. Then it rallies all we back above these relative equal highs clearing that liquidity out, then only then does it come down and make a more
11 00:01:58,530 --> 00:02:11,550 significant run below. Monday's low and the initial daily low formed here. New York session. Based on our rules, were looking for an optimal trade entry after
12 00:02:11,550 --> 00:02:19,560 seeing a run above relative equal highs and a shallow run here, and it's starting to really gain momentum at this point. If we see a retracement like
13 00:02:19,560 --> 00:02:29,100 this, we had now a shallow run here and a shallow run here. That means that it's really primed to make it more significant run lower just later in the day. And
14 00:02:29,100 --> 00:02:40,290 we're going to use the New York session time of day to look for an optimal trade entry. This high to this low price retraces back to the 70.5 level just a little
15 00:02:40,290 --> 00:02:51,180 bit above that but keeping with the rules of this model are using the 62% retracement level. In this case it's 166 97 and five pipettes as our entry stock
16 00:02:51,180 --> 00:03:03,000 would have to be at this high. The trade has seven pips drawdown theoretically and expansion down takes out the short term low here and we can offer 30 pips as
17 00:03:03,000 --> 00:03:14,340 a partial retraces back to Monday's old daily low. And then the further expansion down again, consolidates and finally makes a run offering one half of
18 00:03:14,340 --> 00:03:26,220 the standard deviation of the dealing range used for the fib. So 30 pips offered 50 pips offered from this run here to here. That honestly is what I'm looking
19 00:03:26,220 --> 00:03:36,330 for once a week. I'm not in here trying to do a whole lot. So if I capture 50 to 75 pips a week, I'm pretty much done. So hopefully his examples been insightful
20 00:03:36,360 --> 00:03:46,860 in regards to do we consider taking the previous day's low or previous day's high in New York session if it's already done so even in a small capacity? know
21 00:03:46,950 --> 00:03:55,740 the answer is you want to stick with where the liquid is gonna be reaching relative to the previous day's high or low. And if it's not really clear, just
22 00:03:55,740 --> 00:04:05,220 simply stay out. And that way you can live the 500 a day without taking a needless risk or focus on another pair. Until next time, wish good luck and good
23 00:04:05,220 --> 00:04:05,610 trading.