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Version 1.1 by Drunk Monkey on 2020-11-20 16:25
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3 ICT: Okay, folks, welcome back. This is our 20th video and
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7 final in this series. As you know, all good things must come
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11 to an end. So here we have today's example. And it's in the
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15 eurodollar. And we have our charts already trained on a five
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19 minute chart and you knew the drill. you pause the video,
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23 and take a look at this example and see what you see.
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27 And here's the previous day's high and I'll scroll back when
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31 after I go over this portion here but between 830 in the
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35 morning, New York time to 11 o'clock. Right there every
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39 single day. New York time. We have a market run here, above
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43 the previous day's high and it retraces all the way back
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47 down. into the 17.5 level, but for this model for the
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51 YouTube channel, we have a type of entry of one point 1250.
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55 And that position entry would have suffered eight PIP
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59 drawdown. You do 30 PIP stop loss. At the old high, it's a
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63 plus 47. At one half standard deviation is 86 pips.
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67 Ultimately at one standard deviation, it's 124 pips really,
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71 really nice day. Really easy. They actually, you don't get
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75 these every single day of the week, but when they do come,
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79 wow, it's, it's very, very fun to do it. We participated in
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83 an observation today on the British Pound versus the US
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87 dollar. I'll reserve that for my private group. But for now,
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91 this is just a wonderful example of close this series out
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95 the previous day's high. You can see here and we drew that
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99 out in time. And again, as I mentioned earlier in the
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103 series, you're going to see examples of this setup that will
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107 form when it runs the previous day's high or the previous
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111 day's low. And don't think that that's the end of the move.
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115 And many times it just is the very perfect setup actually,
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119 it just shows you that it wants to go higher, and three
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123 tracing lower and this gets a lot of the retail traders
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127 tripped up. They think that the markets reversing or, you
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131 know, something that affect a topping formation. I remember
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135 back in the 90s. When I first started, I thought that
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139 everyone pick tops and everyone pick bottoms. And I quickly
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143 found out that I personally at the time couldn't do that.
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147 And learning how these markets operate initially with
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151 commodities. That market is no different from the foreign
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155 exchange market in a lot of ways, but the foreign exchange
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159 market has a whole lot more subtle nuances that are very
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163 specific to it. Just like the bond market has subtle nuances
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167 that are very unique to it. And I'm sure if I were a crypto
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171 trader, which I'm not, I could probably give a list of
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175 things about that asset class that would be very germane to
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179 just that asset class alone. So when we go through all these
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183 examples, I'm gonna count you to go through them multiple
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187 times. I'm purposely went in and made them as short as I
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191 possibly can right to the point. And it gives you basically
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195 what a one full month or 20 trading days would be like
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199 logging the examples of one market that you find the optimal
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203 trade entry in. And what will happen is, you will assume,
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207 especially if you're new watching this video series that
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211 this pattern should form every single day in the same
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215 market. And that's not true. There is this pattern always,
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219 every single day, but not every single day is the market
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223 that you're following exclusively. Going to make a really
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227 easy run above the previous day's higher below the previous
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231 day's low. So that part you have to work out and build a
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235 watch list and those things. You can learn how to do that in
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239 my free youtube channel videos and other series.
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243 So if you found this insightful, I wish you all good luck
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247 and good trading