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ICT Emini S&P500 AM & PM Session Review - 09/01/22
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ICT Emini S&P500 AM & PM Session Review - 09/01/22

Summary and Recap

The speaker provides a quick summary and recap of the daily chart of the E-mini S&P futures contract for September. They mention a small gap and how the market ran up to a specific area as predicted.

Key Points:

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  • There was a small gap in the chart.
  • The market traded up to the predicted area.
  • The speaker made public record of their objective and last week's low on Twitter.

Fair Value Gap and Market Movements

The speaker discusses the fair value gap, market movements, and potential future scenarios based on current observations.

Key Points:

  • The fair value gap is highlighted.
  • Market trades up into an important level.
  • Potential draw on the quarter is mentioned for next week.
  • Market drops, creates consolidation, finds support at old fair value gap high, then breaks lower.

Afternoon Session and Order Blocks

The speaker analyzes the afternoon session, order blocks, and price movements during this time frame.

Key Points:

  • Consolidation occurs during lunch hour.
  • Market breaks lower into an order block.
  • Rally higher towards old area of order flow.
  • Reversal day observed with trading above previous highs.

Swing Lows and Liquidity Levels

The speaker focuses on swing lows, liquidity levels, and their impact on market structure.

Key Points:

  • Swing lows are identified on the five-minute time frame.
  • Aggressive entry points are discussed based on institutional workflow entry yield.
  • Liquidity levels below fair value gap are emphasized as potential areas of interest for traders.

Short Selling and Market Structure Shift

The speaker explains their short selling strategy and discusses a market structure shift.

Key Points:

  • Short selling is mentioned, but not at the highest high.
  • Partial closures are made during the trade.
  • Market structure shift occurs below specific levels.
  • Liquidity draw and reversion to previous high are highlighted.

Liquidity Draw and Algorithmic Trading

The speaker delves into liquidity draws, algorithmic trading, and market behavior after news events.

Key Points:

  • Liquidity draw is explained as a factor in market behavior.
  • Algorithmic trading is mentioned as a possible reason for precise price movements.
  • Market movement after news events is analyzed.

Analysis of Price Movements

The speaker discusses the supply and demand dynamics in the market, noting a small retracement followed by a sell-off. They mention placing a limit order during lunch hour to take advantage of a potential drop in price.

Key Points:

  • The speaker observes a fair value gap and predicts that if the price drops after lunch, it will likely happen towards the end of the lunch hour or around 1 o'clock.
  • They placed a limit order that was filled when they were away from their charts.
  • Upon returning, they saw another opportunity to buy more based on certain lows and decided to exit at a specific point.
  • However, they realize that their entry was premature and attempt to finesse the trade before prices drop further.

Premature Entry and Limit Order Filling

The speaker reflects on their premature entry due to expecting certain lows to hold. They discuss the challenges of entering limit orders during the lunch hour and how price movements can fill orders prematurely.

Key Points:

  • The speaker acknowledges that entering limit orders before or at the beginning of the lunch hour can result in premature fills due to price movements deviating from expectations.
  • Despite being aware of this risk, they wanted to show an example during the afternoon session but couldn't actively monitor it at that time.
  • They attempted to finesse their position before prices dropped further but ultimately had to close it earlier than desired.

Market Structure Shift and Fair Value Gap

The speaker analyzes market structure shifts during the lunch hour and highlights how levels from daily charts are transposed onto shorter timeframes. They emphasize the significance of trading outside fair value gaps.

Key Points:

  • The speaker notes a short-term shift in market structure during the lunch hour, with prices breaking lower into a fair value gap.
  • They explain how levels from the daily chart are applied to the one-minute chart, emphasizing that this is not noise but meaningful trading activity.
  • The speaker expresses concern about potential further drops below certain lows and highlights the importance of monitoring price movements during this time.
  • They mention a rally after the lunch hour and reflect on their decision to close their position earlier than ideal.

Afternoon Trading and Market On Close Algorithm

The speaker discusses trading patterns in the afternoon session, including trades near fair value gaps and the impact of market on close algorithms.

Key Points:

  • The speaker describes trades made in the afternoon session, including entering positions near fair value gaps and setting stops below certain lows.
  • They mention stops being taken at specific levels and express willingness to wait for later entries if necessary.
  • The speaker notes consolidation around certain levels before mentioning a short-term shift in market structure towards the end of trading hours.

Understanding Bearish Order Blocks

In this section, the speaker discusses a bearish order block trade and its significance in the market. The speaker emphasizes the precision of this particular trade and expresses their intention to develop an approach for future trading sessions.

Exploring Trading Sessions

  • The speaker acknowledges that the current video covers both morning and afternoon trading sessions. They express their desire to keep the videos shorter and propose a potential solution on Twitter.
  • The speaker mentions sharing core content from their mentorship program as prerequisite videos for their private group. This allows them to freely express themselves on YouTube while maintaining consistency in teaching methods.
  • The speaker plans to provide short reviews of both morning and afternoon trading sessions, aiming for an average video length of five minutes. They aim to establish a consistent format that viewers can expect, allowing them to compare notes and test their understanding.

Analyzing Trades

  • The speaker highlights the opportunity to compare and contrast notes with them by reviewing trades taken during each session. They encourage viewers to test themselves based on these trades.

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Channel: The Inner Circle Trader
Video description

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.