ICT Forex - The ICT New York Killzone

Introduction to ICT New York Kills

In this section, the speaker introduces the ICT New York kills and discusses the concepts that will be used in this module.

The Importance of Time and Price

• The New York open frequently sets up an optimal trade entry pattern that can offer 20 to 30 pips as a scalp.

• Key times to monitor are 7:00 a.m. to 9:00 a.m. New York time.

• This is referred to as the classic ICT New York open kill zone.

Ideal Pair for Trading During New York Open

• The majors that are coupled with the dollar index or the dollar are ideal pairs for trading during this time of day.

Opportunities for Trading Every Day

• There is an opportunity every single day Monday through Friday to find a set up that would offer 20 to 30 pips.

• However, it is not recommended to try and trade every single trading day with live funds.

Using New York Open for Mitigating Losses

In this section, the speaker discusses how he uses the New York open to mitigate any losses he may have incurred earlier in the week.

Weekly Objectives

• The speaker's personal trading objective is between 50 to 75 pips per week.

• He looks for his weekly objective during London open, Asian open, and New York open.

Using New York Open for Scalping

• If he misses an opportunity or takes a loss earlier in the week, he will use the New York open to get small little scalps that add up to his weekly objective.

• He is confident that he can get 20 to 30 pips in one of the majors every single day during this time.

Identifying Optimal Trade Entry Pattern

In this section, the speaker discusses how to identify an optimal trade entry pattern during the New York open.

Identifying Optimal Trade Entry Pattern

• The easiest time to trade is during the New York open because of the luxury of having London overlap and New York.

• Every dollar-based cross will give you a set up between 7 a.m. and 9 a.m. New York time.

• The optimal trade entry pattern is seen between London low, initial daily high, retracement, subsequent expansion creating the high of the day.

Experience and Insights

• Experience has taught him how to see these things by a small sample size of conditions.

• Not all conditions are taught in his free tutorials, but insights can still be gained from them.

Conclusion

In this section, the speaker concludes by encouraging viewers to identify opportunities for trading during the New York open.

Identifying Opportunities for Trading During New York Open

• Watch every pair that's crossed with the dollar between 7 o'clock and 9 o'clock in the morning Monday through Friday.

• Even if you have a job or business and can't trade during this time, it's important to identify these opportunities for future reference.

Understanding the New York Trading Session

In this section, the speaker discusses the characteristics of the New York trading session and how it can be traded.

Characteristics of the New York Trading Session

• The New York trading session typically sees a consistent round of economic news releases that stimulate price action.

• The New York trading session extends beyond 9:00 am to 2:00 pm in New York time.

• The New York session creates a fractal pattern similar to that seen in other sessions.

• Previous day's lows can be used to identify optimal trade entries during the New York session.

Continuation or Reversal?

• The New York session typically has two potential scenarios - continuation of London's move or a complete reversal on the daily direction.

• When the daily chart is in clear one-sided momentum, it is easiest to look for confirmation of that direction in London price action.

Reversals

• There are many things required to teach market reversals, and experience is often necessary as well.

• As an experienced trader, it is possible to trade any timeframe and look for reversals that go contrary to higher timeframe direction. However, developing traders may not have this diversity yet.

This section provides insights into how traders can approach trading during the New York trading session. It also highlights some key considerations when looking for market reversals.

Trading with Daily Bias

In this section, the speaker explains how it is easier to trade with the daily bias and look for daily ranges to expand in that direction.

Benefits of Trading with Daily Bias

• It is easier to see the daily bias on the daily chart and trade in that direction.

• Shocks and retracements are common in the market, but trading with the daily bias helps anticipate optimal trade entries.

• Avoid getting distracted by online traders who may not have any actual trades or positions.

• Focus on scenarios where New York Open agrees with the daily bias.

Example Scenario

• Look for a bullish market where London rates are low and there has been a rally before declining into New York open.

• Anticipate expansion on the upside of the daily range for power three for the daily bar our daily candle that's what we're looking for that dynamic imbalance.

Advantages of Trading During New York Open

• The speaker believes it is much easier to trade during New York Open because it has a built-in advantage.

• If you can arrive at a daily bias on a daily chart and then wait to see if London supports that notion, you can expect 20 to 30 pips scalp in New York.

Conclusion

In this section, the speaker concludes by saying that trading during New York Open is much easier when you have experience reading price movements.

Final Thoughts

• Experienced traders will appreciate how often these scenarios unfold when they have more experience reading price movements.

• The speaker hopes that the teaching has been insightful and encourages viewers to find more at the inner circle trader com.