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ICT Emini S&P 500 Review - March 27, 2023
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ICT Emini S&P 500 Review - March 27, 2023

E-mini S&P Futures Contract for June 2023

The speaker discusses key levels and areas of interest in the daily chart of the E-mini S&P Futures Contract for June 2023.

Key Levels and Areas of Interest

  • Premium fair value gaps outside and balance Boston and efficiency or City
  • Imbalance between high and low, noted in a light gray area
  • Buy side of the Cordy pool an interest, breaker, low high lower low chaining off old imbalance on daily chart
  • Consolidation into close for today at high of Fairway Gap

Levels to Watch Going Forward

The speaker discusses levels to watch going forward into tomorrow's live price action.

Key Levels to Watch

  • Buy sell liquidity pool, relative equal highs, bullish breaker touched
  • Discount Wick consequent encroachment, bearish breaker extended throughout day
  • Volume and balance as resistance, another imbalance inside bearish breaker

Intraday Trading Analysis

The speaker provides intraday trading analysis using different time frames.

Intraday Trading Analysis

  • Looking for 40 34 buy side after running above New York midnight opening price
  • Resistance at volume and bounce level before returning back up into original imbalance inside bearish breaker

Top-Down Analysis

The speaker explains the concept of top-down analysis, which involves analyzing the market from a daily chart to an hourly chart to a 15-minute time frame to a five-minute time frame and finally to a one-minute time frame. They also discuss how the market sells off and attacks the sell side.

Key Points

  • Top-down analysis involves analyzing the market from larger time frames to smaller ones.
  • The market sells off and attacks the sell side, resulting in a five-handle run.
  • An optimal trade entry is when trades back up into the imbalance.
  • The market aggressively trades lower with a discount Wick before trading down to opening range got low.

Opening Range Gap

The speaker discusses opening range gaps and how they can be used for trading.

Key Points

  • Opening range gaps are shown at the 9:30 opening price and can be toggled between electronic trading hours (ETH) or regular trading hours (RTH).
  • There is usually a price swing that originates within 10 minutes prior and after the 10 o'clock hour, which can be used for liquidity.
  • Algorithmic macro teaches taking by side here, followed by selling sign.
  • Tweets can be copied with links from Twitter onto TradingView charts for real-time plotting.

Support and Resistance vs Algorithmic Price Delivery

The speaker explains why support and resistance are not reliable indicators of price movement compared to algorithmic price delivery.

Key Points

  • Rectangles on charts are not supply and demand or support and resistance levels.
  • The market is driven by algorithmic price delivery, not retail logic like support and resistance.
  • The opening range gap low can be used for trading when the market opens higher than where it closed on the previous session.

Trading Analysis

In this section, the speaker discusses potential trading opportunities based on market structure and price action.

Potential Price Range

  • The speaker predicts that the market will trade back down into a certain range, potentially going all the way down to the opening range Gap low or beyond it.
  • Traders should look for discounts in this range.

Market Structure Analysis

  • The speaker analyzes market structure using a Fibonacci tool and identifies a swing high projection of negative 1.5 at a price level of 4027.75.
  • This swing high is significant because it occurred during consolidation after one o'clock, indicating a shift in market structure.
  • There is confluence pointing to the 4027.75 level as a potential trading opportunity due to its alignment with previous highs and lows.

Trading Opportunities

In this section, the speaker discusses specific trading opportunities based on recent price action and institutional order flow.

Short Positions Above New York Midnight Opening Price

  • The speaker notes that the recent price run is above the New York midnight opening price.
  • Best short positions are above this level while best long positions are below it.
  • Traders should annotate their charts accordingly.

Institutional Order Flow Entry Drill

  • The speaker identifies an institutional order flow entry drill at a specific candle's high, which indicates sell-side pressure.
  • Traders can be sellers at that candle looking for a price run below that low.

Opening Range Gap Below Previous Settlement Price

  • There is an opening range gap below previous settlement price on Friday which has been repriced inside the last portion of PM session trading.

-Trading back up in that bearish breaker with also institutional overflow entry drill after hitting the 4027.75 level perfectly that's a nice short here volume and balance if you missed it trades back up into it there breaks lower we have a wick this is a discount Wick that's going to act as an inversion level so think of like support broken term resistance the real way then we have sibi here cell sun and balance bison efficiency which is a fair value Gap and I'm classifying it as what it is a sibi sibi cell side delivery what's it inefficient on by side so we would expect price to deliver up to it and look at that wouldn't you know it goes right to the tick price don't take my word for it measure that go in your time frame and measure the low of that candle to the open midpoint of that 50 draw.

Displacement and Trading Opportunities

In this section, the speaker discusses displacement as a bearish order block. They mention trades going up twice before giving up and repricing back down into the opening range gap below for a final hour New York session trading opportunity.

Displacement and Trading Opportunities

  • Displacement is a bearish order block.
  • Trades go up twice before giving up and repricing back down into the opening range gap below for a final hour New York session trading opportunity.
Playlists: 2023 ICT Mentorship
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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN Trading performance displayed herein is hypothetical. Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance trading results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Trade at your own risk. The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person’s investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results. Simulated performance results contain inherent limitations. Unlike actual performance records the results may under or over compensate for such factors such as lack of liquidity. No representation is being made that any account will or is likely to achieve profits or losses to those shown. The risk of loss in trading can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. If you purchase or sell Equities, Futures, Currencies or Options you may sustain a total loss of the initial margin funds and any additional funds that you deposit with your broker to establish or maintain your position. If the market moves against your position, you may be called upon by your broker to deposit a substantial amount of additional margin funds, on short notice in order to maintain your position. If you do not provide the required funds within the prescribed time, your position may be liquidated at a loss, and you may be liable for any resulting deficit in your account. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market makes a “limit move.” The placement of contingent orders by you, such as a “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.