2022 ICT Mentorship Episode 36

Introduction

The speaker welcomes the audience to the ICT 2022 free mentorship on YouTube and introduces the topic of E-mini S&P futures contract for June 2022.

Contract Months

The speaker explains that contracts are delivered by contract month, and in a couple of weeks, trading of June contracts will end, after which they will roll over into September 2022 contracts.

Hourly Chart

The speaker discusses the hourly chart and how it shows a swing low to swing high range with equilibrium. They explain that the market is currently in an oversold condition and does not need an indicator to determine this.

• The rectangle is used to draw special attention to viewers.

• The Fibonacci retracement highlights where equilibrium is located.

• Anything above equilibrium would be considered premium while anything below it would be discount.

Five-Minute Chart

The speaker moves on to discuss the five-minute chart and how they predicted that it was likely to go higher relative to previous highs.

• They mention how there was a shift in market structure after running up higher.

• They explain how sell-side liquidity took out relative equal lows quickly.

• They predict that we will trade higher and take out short-term highs.

Morning High

The speaker talks about how they expected liquidity at the morning high, which led them to run up into a fair bag up here for a deep premium from low to high straight up into that before pulling back inside the range between this low and the high.

• They explain how they predicted that we would start going higher now because we've cleared out the cell stops.

One Minute Chart

The speaker discusses the one-minute chart in more detail, explaining how they did a small trade and took partials before waiting for it to drop down to a discount.

• They mention how they went long when it dropped down to a discount.

• They talk about how they rallied and mentioned that we would start going higher now because we've cleared out the cell stops.

Shift in Market Structure

The speaker explains how there was a short-term shift in market structure after taking out highs and dropping down into a fair value gap.

• They highlight the shift in market structure when it takes out that high.

• They mention how they played the run-up here to premium like they were mentioning on their Twitter feed this morning.

Understanding Market Structure

In this section, the speaker discusses market structure and how it affects trading decisions.

Market Structure Analysis

• The speaker talks about rallying, suckering in longs, trying to pick the bottom, knocking those individuals out.

• The speaker mentions relative equal highs dropping back down in good order block rallies once more goes into the imbalance here consolidates bumps up just above the short term high here then drops one more time clearing the liquidity out.

• The speaker explains that he is satisfied with his trades for the week and will not be hunting for any more opportunities because there is no clear definitive objective.

Tweet Analysis

In this section, the speaker discusses a tweet related to market liquidity.

Tweet Details

• The speaker shares a tweet that says "Salsa liquidity is taken free to run to 43 and a half."

• The tweet's link is posted in the video description below.

• Three contracts were sold at 41 39 and a quarter and finally, two were filled on a limit order at 41.43 and three quarters.

Conclusion

In this section, the speaker concludes by discussing his plans for the week.

Trading Discipline

• The speaker emphasizes discipline and consistency when it comes to trading rules.

• He mentions that he will be finishing up with his private group and will be quiet on Twitter and YouTube until Thursday.