2022 ICT Mentorship Episode 33

Final Meeting for the Week

The speaker welcomes back the audience and announces that this is the final meeting for the week. He also mentions that this completes his daily review for the 2022 ICT free mentorship on YouTube series.

Market Analysis

The speaker discusses market analysis, mentioning that they have consolidated and moved up into a deeper fair value gap, creating the high of the day. He also talks about how he was waiting for a turning point before making any moves.

Commentary on Twitter Spaces

The speaker talks about spending 90 minutes doing commentary on Twitter Spaces, covering various topics related to trading and personal experiences. He also mentions how one of his sons is actively pursuing trading and has given him permission to show his account.

Son's Trading Account

The speaker shows his son's live trading account, which has had a 300% return in three weeks. He explains how he has been guiding his son through chart analysis and decision-making.

Short Term Low Breakout

The speaker discusses utilizing a swing low during Twitter commentary and waiting for it to break before making any moves. He explains how this helped him guide his son's trades and ultimately led to significant gains in his account.

Fear Value Gap Analysis

The speaker discusses analyzing fear value gaps and finding high probability trades while trusting multiple models. He emphasizes not being limited to just one model when making decisions.

Importance of Backtesting

The speaker emphasizes the importance of backtesting and how it helps build confidence and pattern recognition.

Benefits of Backtesting

• Backtesting builds confidence and pattern recognition.

• It is important to find patterns in your own charts.

• Collect examples of patterns for future reference.

Trading Opportunities

The speaker discusses trading opportunities that arise during the day's trading session.

Trading Opportunities

• Market creates an opportunity at 30 72 and a quarter.

• Fair value gap trades up, creating another short opportunity.

• Short-term low created at 1 30, followed by afternoon PM session rally.

• Fair value gap reversal on Friday's trading into an autumn balance.

Premium Levels

The speaker explains premium levels and how they can be used as targets.

Understanding Premium Levels

• Target range from fairway gap to premium level.

• Range above half the move is 50 equilibrium.

• Look for small drops into fairway gap after three o'clock.

• Market sends price action aggressively into close up to random level shown on hourly chart.

Live Account Example

The speaker shares his son's live account example where he was able to push his account up $3700 by participating in shorts and longs throughout the day's trading session.

Live Account Example

• Son participated in shorts and longs throughout the day's trading session.

• Pushed his account up $3700 by following the speaker's teachings.

• Five-minute chart shows similar idea with a run below at 130, reaching for middle range into premium level.

Fair Value Gap

The speaker explains the fair value gap and how it can be used to identify support and resistance levels.

Understanding Fair Value Gap

• Use fairway gap after a run below as support.

• Don't go back to old low broken and act as resistance.

• Specific levels are classified beforehand with logic that market will create patterns around them.

Trading Strategy

The speaker shares his trading strategy and why he wasn't willing to take a trade yet.

Trading Strategy

• Short term low noted but not willing to be ultra-aggressive due to volatility in markets.

• Wanted 39 15 and a quarter level to be broken first before taking a trade.

• Picking short-term low because of relative equal highs.

Trading Based on Liquidity, Not Support and Resistance

In this section, the speaker discusses how he trades based on liquidity rather than support and resistance levels. He explains that he identifies key levels based on logic and liquidity, which are likely to have orders.

Key Levels Based on Liquidity

• The speaker notes key levels that are built on logic and liquidity.

• These levels are not just indiscriminate levels.

• The orders are likely to be there based on the logic that the market is likely to reach for a certain level only if it breaks below another level.

• It's a matter of all these things coming together as a confluence, not just one thing leading to a conclusion.

Understanding Market Setups

In this section, the speaker talks about how understanding market setups requires more than just one thing. He emphasizes that it's important to look at several factors before making a decision.

Importance of Confluence

• The speaker emphasizes that exercising trading setups requires more than just one thing.

• It requires several factors coming together as a confluence.

• This was discussed in detail in the previous section where key levels were identified based on liquidity and logic.

Sloppy Setup

• The speaker mentions that he doesn't have a setup yet because it's sloppy.

• He anticipates the algorithm taking out the low and creating a pattern he taught earlier, which is the fair value gap with displacement.

• Once this happens, he expects it to move quickly away from this level towards another pool of liquidity down below.

Identifying Imbalances for Trading Opportunities

In this section, the speaker discusses identifying imbalances for trading opportunities. He explains how equilibrium or above is what premium and highlights where the liquidity would be.

Fair Value Gap

• The speaker talks about the fair value gap, which was discussed earlier.

• He explains that it's a confluence of several things, but the level itself just highlights where the liquidity would be.

• The imbalance is what he's keying off of and focusing on.

Experience Required

• The speaker emphasizes that understanding market setups takes effort and experience.

• It isn't something that can be learned by watching once.

• It requires practice and effort to get it right.

• Once you have it, you won't forget it.

Conclusion

In this section, the speaker concludes his talk. He thanks his audience for joining him and hopes they learned something from his presentation.

Final Thoughts

• The speaker thanks his audience for joining him throughout the week.

• He hopes they learned something from his presentation.

• He promises to share more insights in future presentations.