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2022 ICT Mentorship Episode 34
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2022 ICT Mentorship Episode 34

Introduction and Analysis of Opening Price

The speaker discusses the process of watching and analyzing the opening price on ES (presumably a financial market). They mention being interested in an old high linked to a gap when the session started.

Analyzing the Opening Price

  • The speaker mentions being interested in an old high linked to a gap when the session started.
  • The market creates relative equal highs, breaks down, and trades through the Sunday opening gap.
  • The market hits an older block and rallies up into a mentioned level.

Importance of Price Delivery

The speaker emphasizes the importance of price delivery and shares their experience with utilizing tools for index futures, bonds, and index features.

Importance of Price Delivery

  • The speaker highlights perfect price delivery in relation to a favorite gap.
  • They mention utilizing similar tools for index futures, bonds, and index features since the 90s.

Teaching vs Providing Trade Signals

The speaker addresses requests for trade signals and paid services, expressing their preference for teaching over running a trade signal room.

Teaching vs Providing Trade Signals

  • The speaker declines requests for trade signals or running a paid service. They express their satisfaction with teaching and sharing knowledge without cost.
  • They mention making enough money from trading and not needing to do anything else.

Market Movements and Levels to Watch

The speaker discusses market movements, levels to watch, and retracements during lunch hour.

Market Movements and Levels to Watch

  • The market breaks lower and returns back up into the fair value gap.
  • The speaker mentions the lower end as a level to watch and observes retracements during the lunch hour.

Observing Price Movements

The speaker shares their observations of price movements, including trading above and back down into the Sunday opening gap.

Observing Price Movements

  • Price trades above the Sunday opening gap, then back down into it before rallying.
  • The market trades down into the discount low and rallies back up.
  • It trades into a 15-minute order block and rallies again.

Conclusion

The speaker concludes by emphasizing their enjoyment of teaching and sharing knowledge without cost.

Conclusion

  • The speaker expresses fulfillment in teaching and helping others without charging for their services. They reiterate their satisfaction with sharing knowledge.

New Section

The speaker discusses the importance of staying open to opportunities and the mechanics of entry in trading. They also explain their reasoning behind focusing on a specific level and how it relates to dynamic support and resistance.

Importance of Staying Open to Opportunities

  • It is important to stay open to opportunities in trading.
  • The speaker emphasizes the need for proper mechanics of entry.
  • They highlight examples where staying open led to profitable trades.

Focusing on Specific Levels

  • The speaker explains why they focused on a specific level, such as 39.53.
  • They round up the level slightly above the actual high.
  • The objective is to see a run-up into that level, treating it as dynamic support/resistance.

Understanding Dynamic Price Levels

  • The speaker introduces the concept of using the Sunday gap opening as a dynamic price level.
  • If price is above the gap, it can act as support; if below, it can act as resistance.
  • Identifying swing highs can help determine potential trade directions.

New Section

The speaker discusses trading in choppy range-bound markets and highlights the importance of knowing how to trade in such environments. They also address concerns about live trading sessions and emphasize self-reliance in trading.

Trading in Choppy Range-Bound Markets

  • Events like FOMC can create choppy range-bound markets.
  • These markets don't provide clean one-way directional moves.
  • Knowing how to trade in these environments is crucial.

Addressing Concerns about Live Trading Sessions

  • The speaker acknowledges requests for live trades but explains their reasons for not doing them frequently.
  • Live sessions take time and distract from personal trading and life.
  • They emphasize that viewers should decide if their strategies work based on what has been shown.

Emphasizing Self-Reliance in Trading

  • The speaker believes that co-dependency on them would not be helpful for viewers.
  • They encourage viewers to learn and trade independently.
  • Failing is part of the learning process, and opportunities to grow should be embraced.

New Section

The speaker discusses a gap area on the 15-minute timeframe and predicts a potential trade back up into that area. They also address missing data and conclude the discussion.

Predicting a Trade Back Up into Gap Area

  • The speaker believes that the gap area will not be left open.
  • They anticipate a trade back up into that area.
  • Missing data in the charts is mentioned as well.

Timestamps are provided for each section to help navigate through the transcript.

New Section

The speaker discusses the possibility of a deeper run on the daily chart and suggests removing all indicators. They mention a potential high at 4000 and advise viewers to study their charts for confirmation.

Going into a Deeper Run

  • The speaker mentions the likelihood of going into a deeper run on the daily chart.

Removing Indicators

  • The speaker suggests taking off all indicators from the chart.

Potential High at 4000

  • There is a potential high at 4000 that should be considered and monitored throughout the week.

Studying Charts

  • Viewers are encouraged to study their charts for confirmation and make their own analysis.

New Section

The speaker switches to a five-minute chart and shares insights about analyzing price legs and Fibonacci retracements.

Switching to Five-Minute Chart

  • The speaker suggests switching to a five-minute chart for further analysis.

Analyzing Price Legs

  • The speaker refers to an example by Hannah on her YouTube channel, where she analyzes price legs incorrectly by measuring ranges instead of impulsive price swings.
  • It is emphasized that when looking for shorts, one should focus on price legs that drop, while for long positions, impulsive price swings in the upward direction should be considered.

Fibonacci Retracements

  • Fibonacci retracements should be drawn from lows to highs or vice versa based on the direction of trade. Retracements below 50 can be seen as discounts or fair value gaps for potential long positions.
  • Expansion swings or impulsive price swings in the desired trading direction should be used for Fibonacci retracements, rather than measuring from high to low.
  • The speaker clarifies the correct approach to using Fibonacci retracements and hopes that Hannah and other viewers have gained insights from this explanation.

New Section

The speaker expresses appreciation for interactive study sessions and encourages more participation. They also mention enjoying the Thailand vibe but apologize for food poisoning.

Interactive Study Sessions

  • The speaker appreciates interactive study sessions like the one conducted by Hannah on her YouTube channel.
  • They encourage more viewers to participate in such sessions and learn from them.

Enjoying the Thailand Vibe

  • The speaker mentions enjoying the Thailand vibe, referring to elements like "booboo kits."

Apology for Food Poisoning

  • The speaker apologizes for causing food poisoning through their previous comment about not liking it.
Playlists: 2022 ICT Mentorship
Video description

Government Required Risk Disclaimer and Disclosure Statement 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.