2022 ICT Mentorship Episode 23

Introduction to E-mini Micro Nasdaq 100 Index

The speaker introduces the E-mini Micro Nasdaq 100 Index and discusses potential trading opportunities.

Potential Trading Opportunities

• The speaker identifies an imbalance in the market and suggests that it could potentially be a selling opportunity.

• The speaker believes that the market will drop down before running Tuesday's highs due to FOMC. They suggest waiting for an initial shakeout before making any trades.

• The speaker highlights a turquoise imbalance as a potential drop-down level, but notes that there is also a cell side resting just below it.

• The speaker suggests using a demo account to trade short-term lows or waiting for the market to potentially trade up into higher time frame fair value gap due to FOMC's knee-jerk reaction.

• The speaker suggests shorting at the current level with stop loss above the most recent green candle on the left.

Using Replay Button and Shorting Opportunity

The speaker discusses their use of replay button and identifies another shorting opportunity.

Shorting Opportunity

• The speaker revisits bottom under fair value gap and bumps it like support resistance idea, which would be another shorting opportunity if it were to do so.

• This thought would be placed at high of most recent green candle on left.

• Speaker identifies another shorting opportunity at bullseye right below short-term low.

Market Drop Down

Speaker predicts further market drop down and explains difference between sweeping and running Tuesday's high.

Market Drop Down

• The speaker predicts that the market will keep dropping down and is looking for a little bullseye right below the short-term low and blue line.

• Speaker hopes to see it trade down into the blue shaded area, which is like the end of the race for bears.

• The speaker explains difference between sweeping and running Tuesday's high.

Understanding Sweep and Reverse

In this section, the speaker explains the concept of "sweep and reverse" in trading.

Sweep and Reverse

• "Sweep and reverse" means running through an old high for relative equal highs and continuing.

• The speaker tries to pick their words carefully to help understand the distinction between a sweep and reverse back into the range or an expansion move.

• The market is running out of space, so it might take more candles than initially thought to drop down into the target area.

• A bearish order block can come back and hit that area, resuming going lower.

Introduction to Trading Strategy

The speaker introduces eight trading strategies and highlights the most important one. He explains that he is looking for a drop down at FOMC at 2 o'clock, which usually finishes its initial leg around 2:30 before starting to rally.

Using Fibonacci Retracement

• The speaker anchors the Fibonacci retracement to the high down to the low, using the extreme ranges since it's expected to be more volatile during FOMC.

• He shows two upside objectives using body-to-body analysis and wicks.

• The speaker identifies an order block as a trade opportunity.

Trading Opportunities

• The speaker outlines several trading opportunities based on his strategy, including buying into an order block and taking advantage of retracements.

• He predicts that Tuesday's highs will be swept and advises traders to buy during small imbalances.

Overall, the transcript provides insights into a specific trading strategy focused on FOMC events. The speaker uses Fibonacci retracement and body-to-body analysis with wicks to identify potential trades. Traders can take advantage of order blocks and small imbalances in price movements.

Understanding Institutional Order Flow

In this section, the speaker discusses how institutional order flow affects price movements and candlestick patterns.

Institutional Order Flow

• Institutional order flow can affect price movements in a significant way.

• The speaker concludes the section by thanking the audience for their attention.