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Version 1.1 by Drunk Monkey on 2020-11-20 16:23
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3 ICT: Okay, folks, welcome back. This is volume number nine
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7 in a continuing series of 20 videos for the ICT optimal
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11 trade entry pattern recognition series for YouTube. Before I
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15 get into this, just as a reminder, you can also take a look
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19 at the British pound, pound versus dollar. And you'll see
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23 that it gave us a optimal trade entry during the New York
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27 session running out to previous day's high. So it's kinda
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31 like a twofer today, but I want to use the Euro Aussie today
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35 because it's a pair I don't do too much discussion about and
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39 I want you to take a look at the low from the 18th over
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43 here. And this is going to be a question it's going to pop
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47 up if you haven't already had it. Come up. In the
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51 progression through this series, what happens if the next
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55 day we go through it a little bit, but does go higher? Or
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59 just because it goes below it, and we're expecting it to go
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63 below the previous day's low? Doesn't that negate taking a
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67 New York session trade? And the question is answered with
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71 simply now, as you'll see now, take a look at this. Here's
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75 Monday's low on the Euro Aussie. So we project that in
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79 future this is what I refer to as a shallow run. And
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83 basically it This leaves unfinished business. Okay, the
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87 markets warning later at another time, run back to that
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91 liquidity just in the same capacity does it here. We have an
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95 old high from the 18th and it runs above it very shallow,
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99 then runs down below the Monday low, then it rallies all the
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103 way back above these relatively equal highs, clearing that
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107 liquidity out. Then and only then does it come down to make
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111 a more significant run below. Monday's low and the initial
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115 daily low formed here in New York session, based on our
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119 rules, we're looking for an optimal trade entry after seeing
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123 a run above relative equal highs and a shallow run here, and
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127 it's starting to really gain momentum at this point, if we
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131 see a retracement like this, we had now a shallow run here,
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135 and a shallow run here. That means that it's really primed
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139 to make it more significant run lower just later in the day,
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143 and we're going to use the New York session time of day to
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147 look for an optimal trade entry. This high to this low price
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151 retraces back to the 70.5 level just a little bit above
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155 that. But keeping with the rules of this model, we're using
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159 the 62% retracement level. In this case it's 166 97 and five
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163 pips as our entry stock would have to be at this high. The
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167 trade has seven pips drawdown theoretically and expansion
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171 down takes out the short term low. He And we can offer 30
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175 pips as a partial retraces back to Monday's old daily low.
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179 And then the further expansion down again, consolidates and
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183 finally makes a run, offering one half of the standard
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187 deviation of the dealing range used for the fib. So 30 pips
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191 offered 50 pips offered from this run here to here. That
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195 honestly is what I'm looking for once a week. I'm not in
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199 here trying to do a whole lot. So if I capture 50 to 75 pips
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203 a week, I'm pretty much done. So hopefully his examples been
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207 insightful in regards to do we consider taking the previous
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211 day's low or previous day's high in New York session if it's
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215 already done so even in a small capacity? Now, the answer is
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219 you want to stick with where the liquidity is going to be
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223 reaching relative to the previous day's high or low. And if
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227 it's not really clear, just simply stay out. And that way
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231 you can leave the fight another day without Needless risk,
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235 or focus on another pair. Until next time, wish good luck
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239 and good trading.