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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 video number 10 in a
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7 continuing series of 20 videos for the ICT optimal trade
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11 entry pattern recognition series. Alright, so today's
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15 example is going to be on the Australian dollar versus the
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19 US dollar and we have our chart already trained in on the
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23 five minute chart, I want you to take a look at the chart
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27 and pause the video. Alright, this is your last warning
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31 before I show you the lipstick on the chart. All right, so
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35 we have Tuesday's previous daily high annotated here, the
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39 beginning of May 20 2020. And we have our New York session.
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43 time of day delineated on our chart. So we're looking for
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47 price to run above Tuesday's daily high See it's reaching
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51 out for their hits it just pierces it very very very
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55 modestly. And then it retraces down into our time of day.
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59 And we're going to add our fib fib here on our low to high
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63 optimal trade entry beautiful touch 279 tracing a level
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67 touches it again at the 70.5 vo which is a sweet spot and
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71 price expands above comes back find some support at previous
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75 daily high and price runs and expands above the big finger
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79 point 6600 level. Now for the fib I've shown you this in the
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83 first video but just want to show you the levels again
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87 because I got people asking on Twitter. Those are the levels
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91 that are highlighted on this fib and the one I've added but
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95 said in one of that game recall what woody it was in the
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99 series, but it's You can add a negative 1.5 level and you
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103 can see that being applied here, okay, so that way you have
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107 your half standard deviation, full standard deviation, one
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111 and a half standard deviation and two standard deviations
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115 further look with the details here 65 776 entry rate at the
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119 60 penetration level, you're filled with me on this candle
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123 here. And using a 10 PIP stop 30 pips is offered when we're
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127 using points 610 as our target. So the big figure in here,
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131 which would be right about in here, point 660 doesn't really
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135 line up with any of the fib. But if we're going to run above
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139 Tuesday's high, it's probably going to run above the big
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143 figure. So it's nice to be able to capture some kind of
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147 movement above that big figure. Now, you can simply just use
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151 the one standard deviation Here, and that would be point
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155 6600. Again, rounding down not demanding that 6603 and two
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159 PIP bets. So we're we're just using the fib. Again, as a
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163 framework, it's just a rough idea in terms of the basic
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167 profile to the trade. It doesn't require or we don't rather
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171 demand that these fib levels get hit, it just helps us
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175 structure, the trade. And where we can put our entries in
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179 when our stops are going to be in, projected up for
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183 potential targets. But we use the liquidity above this old
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187 high as the real framework and the big figure level I'll add
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191 here just for completeness sake. So you can appreciate the
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195 running liquidity above that, okay, so it's not that we're
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199 waiting Requiring this absolute high I have tools and
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203 techniques that will give you this very high, but it's not
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207 important especially not in the scope of a YouTube video
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211 series. Okay, hopefully you found this insightful until next
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215 time, I wish you good luck and good trading.