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Last modified by Drunk Monkey on 2021-06-10 10:01
From version 1.1
edited by Drunk Monkey
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To version 2.1
edited by Drunk Monkey
on 2021-06-10 10:01
Change comment: There is no comment for this version

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2 -00:00:10,500 ~-~-> 00:00:12,930
3 -ICT: Welcome back, folks, this is volume number 17, in a
1 +(% class="hover min" %)
2 +|1 |00:00:10,500 ~-~-> 00:00:17,610 |ICT: Welcome back, folks, this is volume number 17, and a continuing series of 20 videos, the optimal trade entry pattern recognition series for the inner
3 +|2 |00:00:17,610 ~-~-> 00:00:27,240 |circle trader YouTube channel. Our example today is from the British pound, or pound versus dollar. And we're looking at the daily chart here. And I'm going to
4 +|3 |00:00:27,270 ~-~-> 00:00:37,110 |save you a lot of time. And to simply state that we have retail resistance up here. And that's going to be likely a draw on liquidity. Now, here's one of the
5 +|4 |00:00:37,110 ~-~-> 00:00:45,030 |things that you're going to have in your notes. When you're looking at a daily chart like this, it's not important or even required, that price trades from
6 +|5 |00:00:45,030 ~-~-> 00:00:54,360 |this level here all the way up to that level and higher, it just needs to draw towards it. That's the reason why I call it a draw on liquidity. Now, again, the
7 +|6 |00:00:54,360 ~-~-> 00:01:02,430 |ideal scenario would be to see price trade up there. But it's not required if especially if we're looking for day trades or intraday trades, which is the
8 +|7 |00:01:02,430 ~-~-> 00:01:19,860 |scope of this series, focusing primarily for moves within the 8:30am to 11am New York session. So here is last Friday's daily range, and we expect these highs to
9 +|8 |00:01:19,890 ~-~-> 00:01:29,190 |draw price up now again, it's not imperative that it goes all the way up there, but it's more likely to go that direction than it is to go lower. So we want to
10 +|9 |00:01:29,370 ~-~-> 00:01:40,410 |put our line on the daily high which comes in at 123 94 and one PIP et and we're going to go over to our five minute chart. Okay, so here's our British Pound
11 +|10 |00:01:40,410 ~-~-> 00:01:43,710 |five minute chart and you know the drill. pause your video.
12 +|11 |00:01:49,980 ~-~-> 00:02:02,940 |Okay, so let's add the annotations now. And right away you can see we have our optimal trade entry price mu here drops down in after 8:30am Mu drops down into
13 +|12 |00:02:02,940 ~-~-> 00:02:14,580 |the 62% retracement level. Our hypothetical entry is 123 and 88. And it suffers three pips, drawdown, stop losses, 15 pips, which puts it just below this low
14 +|13 |00:02:14,580 ~-~-> 00:02:29,700 |here at the old high, we have a one to one right away at the old high, plus 15 pips at one half a standard deviation it's up 29 pips 43 pips at one standard
15 +|14 |00:02:29,700 ~-~-> 00:02:40,230 |deviation, one and a half standard deviations takes us to plus 56 pips and ultimately at two standard deviations where we would kill the trade at 70 pips
16 +|15 |00:02:40,230 ~-~-> 00:02:50,490 |Now obviously, in hindsight, you can see it went a little bit further. But again idling on the fact that the rules for this model says we have to bail on the day
17 +|16 |00:02:50,490 ~-~-> 00:03:01,380 |trade at two standard deviations. Again, there's gonna be trades if you follow this model, it's going to leave money on the table, hypothetically. And you're
18 +|17 |00:03:01,380 ~-~-> 00:03:10,080 |either going to have to accept that or, again, if you think you're going to go higher than that, leave a leader in other words, a small portion of your
19 +|18 |00:03:10,080 ~-~-> 00:03:17,580 |original position to see if you can capture anything especially based on what we showed on that daily chart. So that's gonna do it for today. Hopefully found
20 +|19 |00:03:17,580 ~-~-> 00:03:20,400 |this insightful. Until next time, I wish you good luck and good trading.
4 4  
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6 -00:00:12,930 ~-~-> 00:00:15,990
7 -continuing series of 20 videos with the optimal trade entry
8 -
9 -3
10 -00:00:15,990 ~-~-> 00:00:18,420
11 -pattern recognition series for the initial trader YouTube
12 -
13 -4
14 -00:00:18,420 ~-~-> 00:00:22,740
15 -channel. Our example today is from the British pound, or
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17 -5
18 -00:00:22,740 ~-~-> 00:00:25,830
19 -pound versus dollar. And we're looking at the daily chart
20 -
21 -6
22 -00:00:25,830 ~-~-> 00:00:29,250
23 -here. And I'm gonna save you a lot of time. And to simply
24 -
25 -7
26 -00:00:29,250 ~-~-> 00:00:34,080
27 -state that we have retail resistance up here. And that's
28 -
29 -8
30 -00:00:34,080 ~-~-> 00:00:37,050
31 -going to be likely a draw on liquidity. Now, here's one of
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33 -9
34 -00:00:37,050 ~-~-> 00:00:39,750
35 -the things you're going to have in your notes. When you're
36 -
37 -10
38 -00:00:39,750 ~-~-> 00:00:42,330
39 -looking at a daily chart like this, it's not important or
40 -
41 -11
42 -00:00:42,330 ~-~-> 00:00:46,380
43 -even required, that price trades from this level here all
44 -
45 -12
46 -00:00:46,380 ~-~-> 00:00:49,410
47 -the way up to that level and higher. It just needs to draw
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49 -13
50 -00:00:49,410 ~-~-> 00:00:51,930
51 -towards it. That's the reason why I call it a draw on
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53 -14
54 -00:00:51,930 ~-~-> 00:00:55,860
55 -liquidity. Now, again, the ideal scenario would be to see
56 -
57 -15
58 -00:00:55,860 ~-~-> 00:00:59,670
59 -price trade up there, but it's not required if especially if
60 -
61 -16
62 -00:00:59,670 ~-~-> 00:01:02,220
63 -we're looking for Day trades are intraday trades, which is
64 -
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66 -00:01:02,220 ~-~-> 00:01:05,790
67 -the scope of this series, focusing primarily for moves
68 -
69 -18
70 -00:01:05,820 ~-~-> 00:01:12,990
71 -within the 8:30am to 11am New York session. So here is last
72 -
73 -19
74 -00:01:13,020 ~-~-> 00:01:20,640
75 -Friday's daily range, and we expect these highs draw a price
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77 -20
78 -00:01:20,670 ~-~-> 00:01:22,860
79 -up. Now again, it's not imperative that it goes all the way
80 -
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82 -00:01:22,860 ~-~-> 00:01:26,040
83 -up there, but it's more likely to go that direction than it
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87 -is to go lower. So we want to put our line on the daily high
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89 -23
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91 -which comes in at 123 94 and one PIP at and we're going to
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93 -24
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95 -go over to our five minute chart. Okay, so here's our
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99 -British Pound five minute chart, and you know the drill.
100 -
101 -26
102 -00:01:42,750 ~-~-> 00:01:43,680
103 -pause your video.
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105 -27
106 -00:01:49,860 ~-~-> 00:01:54,510
107 -Okay, so let's add the annotations now. And right away you
108 -
109 -28
110 -00:01:54,510 ~-~-> 00:01:57,990
111 -can see we have our optimal trade entry price move here
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113 -29
114 -00:01:58,380 ~-~-> 00:02:03,570
115 -drops down in After 8:30am mood drops down into the 62%
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117 -30
118 -00:02:03,570 ~-~-> 00:02:08,280
119 -retracement level, or hypothetical entry is 123 and 88 and
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123 -it suffers three pips draw down, stop losses 15 pips, which
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127 -puts it just below this low here at the old high, we have a
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131 -one to one right away at the old high at plus 15 pips at one
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134 -00:02:24,660 ~-~-> 00:02:29,400
135 -half a standard deviation it's up 29 pips 43 pips at one
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138 -00:02:29,400 ~-~-> 00:02:33,000
139 -standard deviation, one and a half standard deviations takes
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141 -36
142 -00:02:33,000 ~-~-> 00:02:37,290
143 -us to plus 56 pips and ultimately at two standard deviations
144 -
145 -37
146 -00:02:37,290 ~-~-> 00:02:41,760
147 -where we would kill the trade at 70 pips Now obviously, in
148 -
149 -38
150 -00:02:41,760 ~-~-> 00:02:44,340
151 -hindsight, you can see it went a little bit further. But
152 -
153 -39
154 -00:02:44,700 ~-~-> 00:02:48,720
155 -again, I lean on the fact that the rules for this model says
156 -
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158 -00:02:48,720 ~-~-> 00:02:52,560
159 -we have to bail on the day trade at two standard deviations.
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163 -Again, there's going to be trades if you follow this model.
164 -
165 -42
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167 -You're going to leave money on the table hypothetically.
168 -
169 -43
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171 -You're gonna either gonna have to accept that or, again, if
172 -
173 -44
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175 -you think you're going to go higher than that, leave a
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179 -leader in other words, a small portion of your original
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181 -46
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183 -position to see if you can capture anything especially based
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185 -47
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187 -on what we showed on that daily chart. So that's gonna do it
188 -
189 -48
190 -00:03:16,770 ~-~-> 00:03:18,780
191 -for today. Hopefully found this insightful. Until next time,
192 -
193 -49
194 -00:03:18,780 ~-~-> 00:03:20,370
195 -I wish you good luck and good trading.