OTE Pattern Recognition Series - Vol 09.srt

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ICT: Okay, folks, welcome back. This is volume number nine

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in a continuing series of 20 videos for the ICT optimal

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trade entry pattern recognition series for YouTube. Before I

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get into this, just as a reminder, you can also take a look

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at the British pound, pound versus dollar. And you'll see

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that it gave us a optimal trade entry during the New York

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session running out to previous day's high. So it's kinda

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like a twofer today, but I want to use the Euro Aussie today

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because it's a pair I don't do too much discussion about and

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I want you to take a look at the low from the 18th over

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here. And this is going to be a question it's going to pop

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up if you haven't already had it. Come up. In the

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progression through this series, what happens if the next

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day we go through it a little bit, but does go higher? Or

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just because it goes below it, and we're expecting it to go

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below the previous day's low? Doesn't that negate taking a

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New York session trade? And the question is answered with

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simply now, as you'll see now, take a look at this. Here's

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Monday's low on the Euro Aussie. So we project that in

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future this is what I refer to as a shallow run. And

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basically it This leaves unfinished business. Okay, the

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markets warning later at another time, run back to that

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liquidity just in the same capacity does it here. We have an

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old high from the 18th and it runs above it very shallow,

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then runs down below the Monday low, then it rallies all the

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way back above these relatively equal highs, clearing that

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liquidity out. Then and only then does it come down to make

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a more significant run below. Monday's low and the initial

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daily low formed here in New York session, based on our

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rules, we're looking for an optimal trade entry after seeing

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a run above relative equal highs and a shallow run here, and

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it's starting to really gain momentum at this point, if we

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see a retracement like this, we had now a shallow run here,

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and a shallow run here. That means that it's really primed

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to make it more significant run lower just later in the day,

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and we're going to use the New York session time of day to

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look for an optimal trade entry. This high to this low price

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retraces back to the 70.5 level just a little bit above

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that. But keeping with the rules of this model, we're using

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the 62% retracement level. In this case it's 166 97 and five

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pips as our entry stock would have to be at this high. The

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trade has seven pips drawdown theoretically and expansion

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down takes out the short term low. He And we can offer 30

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pips as a partial retraces back to Monday's old daily low.

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And then the further expansion down again, consolidates and

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finally makes a run, offering one half of the standard

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deviation of the dealing range used for the fib. So 30 pips

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offered 50 pips offered from this run here to here. That

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honestly is what I'm looking for once a week. I'm not in

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here trying to do a whole lot. So if I capture 50 to 75 pips

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a week, I'm pretty much done. So hopefully his examples been

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insightful in regards to do we consider taking the previous

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day's low or previous day's high in New York session if it's

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already done so even in a small capacity? Now, the answer is

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you want to stick with where the liquidity is going to be

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reaching relative to the previous day's high or low. And if

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it's not really clear, just simply stay out. And that way

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you can leave the fight another day without Needless risk,

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or focus on another pair. Until next time, wish good luck

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and good trading.