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Welcome to the first teaching
tutorial from the ICT monthly
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mentorship, four month of sessions.
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2016, this is the first
of eight each month.
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You'll get eight individual teaching
tutorials that will compliment
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the general thing for the month.
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Uh, this particular teaching is
going to be elements to a trade
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set up and have you, and as you
probably noticed, uh, this month, so
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far, we've been focusing primarily
on showing the consistency that's.
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To be delivered to you as a developing
trader after you've submitted the time.
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And you've done the work with the patient,
the sizes and the content, um, materials
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that we're going to be presenting to you,
um, refer to elements to a trade set up.
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There's really just two primary concerns.
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And one is obvious.
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Context or framework surrounding
the idea and always wouldn't makes
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the idea, uh, favorable for a trade.
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It's not just simply, well, my
indicator tells me this or my
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support resistance level tells me
that there has to be something that
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builds a reason to want to do this.
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In my material, are we learning for
specific principles and we're going to
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be dealing with them in general terms.
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And then what we do in those conditions,
what are we specifically pairing
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up with in terms of the ICT tools?
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The first one's going to be expansion.
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Okay.
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We're going to talk about expansion
and what we look for in that kind of.
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We're looking, we're gonna be talking
about retracements and what toll or
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concept we used for retracements reversal
and lastly, consolidation on each one of
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these four, give a specific framework.
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Context to the marketplace that
you're going to be trading in.
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They can only be one of these four
conditions, either the market's
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going to be expanding, running away.
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In other words, a training, a retracement
or pullback altogether reversal.
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And obviously when the market's doing
nothing, it's consolidating, but really
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we all learned in the market maker series
that there's really no such thing as the
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market doing nothing and consolidation.
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Exactly accumulating.
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Now the other characteristic we use for
defining elements to a trade setup is
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using these four criteria for context
and framework two specific reference
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points in institutional order flow.
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What are blocks?
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The second one is fair value
gaps and liquidity voids,
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liquidity pools, and stop runs.
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And lastly, equally prim
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now understanding these two
characteristics together.
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We'll give you a greater understanding
of market efficiency, paradigm, how
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the smart money interprets price and
how they influence the general populous
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or the speculative uninformed money.
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It's going to be a rather.
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I'm illuminating to T uh, tutorial.
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Actually, you're going to be able to look
at the marketplace with an expectation of
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knowing what tool to apply based on what
the market's providing you right now.
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It only takes a second or two to
look at the marketplace, determine.
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Okay.
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Characteristic are we trading in?
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So that way you can build a context
or a framework on how you're
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going to approach the marketplace.
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Sometimes you'll have right away
in an issue where you can say,
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I'm not going to do anything
because the market's consolidating.
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I am going to be waiting
the other three conditions.
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Are going to be providing you an
opportunity to take action relative
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to the tolls that we couple with
those conditions or context,
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the interbank price delivery algorithm,
or what I always refer to as the algo
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or interbank algo, uh, is the actual
basically artificial intelligence.
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Uh, it's a price engine that, um,
when we receive our price, Currencies.
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It's actually 90% done by
way, um, algorithms, so that
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it's all computer based.
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Now it used to be open outcry
in the pits, uh, but there's
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no longer in auctions market.
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It's all AI and it's based on principles.
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I've been teaching for
about seven years now.
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You're not going to learn these
things because number one, no, one's
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going to believe that it exists.
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Um, there is this movement away from.
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Human involvement with market-making,
um, it's become much more efficient
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to be electronically based.
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And these things are programmed
by human beings, obviously, and
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those intelligence are limited.
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So, uh, while that is
probably unselling for some.
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Or listening to this thinking?
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Well, I thought I had a pre-market
I was trading in a it's actually not
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it's highly manipulated, especially
in the foreign exchange, which is
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what we're primarily dealing with here
because of the nature of it being so
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manipulated, manipulated the fingerprints.
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If you will, are easy to
see once you understand.
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The operations and the conditions
to the market maker, uh, interbank
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price, delivery, algorithm functions.
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So when the market does what it's
doing, uh, it gives you indications.
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It gives you fingerprints or clues as
to what you should be expecting next.
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And that's where your anticipatory
skills are going to be coming in.
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Right?
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You're not going to know
these things right away.
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The first time watching this video,
it may go over your head, but
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for some of you that have already
went through the prerequisites.
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That are in my free tutorial
section on my website.
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If you haven't gone through the
sniper series, it says in trading
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concepts and the market maker series,
yet you're going to need those.
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Okay.
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So don't be discouraged if you hear
some terms in here that go over your
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head, because they're all taught in
those three tutorial series for free.
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It's a lot of material over
there saying dig into not only
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just stuff you're getting in.
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Curriculum with the mentorship,
but filling the space when I'm not
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giving you content with the free
tutorials, those three tutorials.
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And I'm going to say what they are.
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Market maker series, persistent
trading concepts and a sniper series.
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okay.
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The interbank algo.
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Okay.
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Obviously there's gonna be times
when the market goes sideways or
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it's in a consolidation or what
I refer to as a holding pattern.
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Now, when this happens, the market
will be looking to do an expansion.
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Okay.
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So all markets start from a consolidate.
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They move into an expansion.
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That means there's an impulse
move or an impulse price swing
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after that impulse swing.
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Okay.
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Either it goes back to a consolidation
again, or it goes to a retracement.
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When the retracement happens,
it goes back down into another
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level of expansion or after the
expansion, it can go to a reversal
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pattern after the reversal pattern.
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You'll see another retreat.
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Then back to potentially
consolidation these four conditions.
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They interchange throughout
the ups and downs and ebbs
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and flows of the marketplace.
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You're only going to get one
of these four conditions.
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Now you're probably saying,
okay, well that's a lot.
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I need to know one of these
things to make a trade.
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No, you just need to know where
it's at right now, where it's
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likely to go and where it came from.
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And over the course of the month of
September, you're gonna get a lot
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of understanding about how to know
where the market's going to go next.
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And that's going to fill in a lot
of the gaps that you've had with
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teach me directional bias ICT.
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The main thing is, is the
consolidation begins with everything.
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All the moves that take place in the
marketplace start from a measure of
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consolidation because that's where
the markets are building orders.
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So the market.
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Keeps the market in a tight range or
a defined range until there's enough.
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Well on both sides of the, uh, upper
and lower end of the range, it's
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being defined by the consolidation.
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Whichever one has the highest
amount of money to be absorbed.
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That's the direction
that's going to move in.
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We don't always know what that
is, but we wait for the expansion
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when the expansion occurs.
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That's when we get the clue as to what the
market is most likely going to be dealing.
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And then we wait for either retracement
or consolidation or whatever.
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But we always wait for the first
expansion that gives us all the insight
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that we need to make a decision.
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Now, sometimes it may expand so far
that we can't do anything with it.
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We have to wait for the retracement
or the next consolidation.
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There's nothing wrong with that.
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It's all normal.
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You're not going to catch every move.
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The main thing is, is
understanding these four individual
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characteristics to a trades.
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Because price is delivered by
one of these four conditions.
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It can't be any other way
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now, what is it for you?
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Now expansion is when price moves
quickly from a level equilibrium.
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Now, expansion couples directly
with the toll of an order block.
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Now, what is the, what's the
importance of knowing expansion?
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Well, when price leaves a level
quickly, this indicates a willingness
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on the part of the market makers to
reveal their intended repricing model.
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Now, what does that mean?
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Well, if we're going to consolidate.
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Okay.
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Or a point of equilibrium if
price were to move up quick.
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That would give us an indication
of looking for a bullish or block.
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We don't want to chase price.
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We're going to wait for price to
come back down into the order block.
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Where's that going to occur?
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Well, what do we look for on price?
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The roadblock that that market
makers leave near or at the
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equilibrium price point.
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So I know what you're thinking.
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Okay.
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Michael, this has already gone over.
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Give me some examples.
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No problem.
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I'm going to show you that right
now, as you see here, there's a
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consolidation and in blue shaded area,
very clear defined consolidation.
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It's got a clear discernible high.
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And the equilibrium price point is
directly in the middle of the high end.
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The low end of that range, you can
simply take the Fibonacci, told you you
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have it, and all your platforms lay the
fed from the high and the low, and the
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general consolidation find that midpoint.
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And you can check yourself also
by looking at how many times
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the market touches up again.
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From below and from above it, going down
into an elements, how many times it's
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touching and hanging around that level.
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Eventually the market will move
outside of the consolidation.
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You can see that impulse
move in that tan shaded box.
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It moves away from the
equilibrium price point.
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And then all we have to do is go back
to the down candle right before that.
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That down candle or black handle on
drawing a small little segment I'll Haute.
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That's the bullish order block.
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When the price comes back down into that
and hits it, that's where we would be.
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And then obviously you can see it
hits that level and expands to the
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upside over a hundred pips just
by using that simple principle.
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It repeats itself all the time.
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It's in price action all the time.
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And if you study just to the left of the
consolidation, we have shaded in blue.
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There's actually a consolidation in the
sell side where the market broke down
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and came right back to the equilibrium
price point again, and then sold off.
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I'll leave that for your study
now, but we're going to move over
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to the next characteristic of it.
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Trade set up.
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the next one is a retracement.
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Now what does a retracement retracement
is when price moves back inside the
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recently created price range now
years ago, I think it was in 2012.
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I did a webinar called trading inside
the range, and a lot of folks that were
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following me on, uh, one of the forums
that is pretty popular on the internet.
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Um, they.
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Went head over heels when he learned this,
the simple principle of understanding
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how you can trade with inside of a range
and it doesn't even have to break out.
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It doesn't have to trend you.
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You can define the range by a high
and a low and trade inside that range.
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And that was the beginning basis point of
how I brought a lot of people from that
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form into understanding, oh, an older
block, the Orbach was introduced in the
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sniper series tutorial on my website.
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Uh, prior to that, this gave indications
includes about what an oral block
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was actually really referring to
or spelling it out for everyone.
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What's the importance of the
retracement or when price returns
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inside a recent price range.
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This indicates a willingness on
the part of the market makers
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to reprice, to levels, not
efficiently traded for fair value.
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When we're thinking retracement,
the go-to is for ICT tools.
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We're looking for liquidity
gaps and liquidity void.
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When we look for price, when we see
run-ups real quick and run downs and
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price and all, always real quick rallies
up or real quick rallies down in price.
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Many times that range that's created will
want to come back in and close that in.
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And I'll give you an example,
what that looks like.
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Example of a retracement.
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As you see here, the orange shaded
area, we had it real quick sudden
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movement away from a price level.
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And that quick sudden movement creates
what we call as a liquidity void.
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In other words, as the market
drops aggressively like that,
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uh, there's going to be pocket.
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Where the price wasn't actually
delivered on every, um, opera, uh,
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available price level at that, in
that range, it moved too quickly.
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It skipped or create a gaps.
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Well, what we'll do is
we'll wait as a trader.
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We won't chase price.
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We'll wait and say, okay, well, there's
going to be either an indication.
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They'll get along.
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And you try to fill in that range or we
can wait for it to come all the way back
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up to it and fill into liquidity void.
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Once it hits it, then it'll
probably resume going lower.
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And that's what we're looking
for in terms of a liquidity void.
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So we've covered three conditions.
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The next one
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is the reversal.
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The reversal is when price
moves the opposite direction.
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Current direction has taken him.
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So if we are looking for reversals,
we're directly coupling that with
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an ICT tool of liquidity polls.
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Now what's the importance of it when
the price reverses direction and in
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00:16:20,985 --> 00:16:24,645
case the market makers have ranted
level stops and a significant move
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should unfold in the new direction.
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What do we look for?
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The liquidity pools just above an
old high and just below an old level.
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Okay.
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And we're looking at
examples of reversals here.
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Every X indicates where stops would be in
the market, goes just above those levels
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and then rejects and goes the other way.
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Or it goes just below those levels
where there's an X and rejects and goes.
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Yep.
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00:16:54,700 --> 00:16:56,950
Because many times there's so
many opportunities just on this
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00:16:56,950 --> 00:16:58,930
one chart and it's on a pair.
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I don't really like to trade
the U S versus the swissy.
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Uh, this pair is real choppy.
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It tends to have a lot.
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Yeah.
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This type of price action.
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So it has a characteristic
that is very favorable.
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If you, if you're into type of
trading like this turtle, soups
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and false, uh, brakes are really,
really good, um, in the sweatsuit.
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And lastly, we have.
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Consolidation.
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And whenever we're referring to
consolidation where we're directly
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relating that to an ICT toe of
equilibrium, what is consolidation?
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00:17:36,195 --> 00:17:39,735
Consolidation is when price moves
inside a clear trading range
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00:17:39,765 --> 00:17:42,735
and shows no willingness to move
significantly higher or lower.
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00:17:43,395 --> 00:17:47,055
Now what's the importance when
price consolidates, it indicates the
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00:17:47,265 --> 00:17:50,535
market makers are allowing orders to
build on both sides of the market.
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00:17:50,895 --> 00:17:52,725
Expect a new expansion.
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00:17:54,070 --> 00:17:55,450
And what do we look for on price?
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00:17:55,930 --> 00:18:00,040
We're waiting for the impulse move
or impulse swinging price away from
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00:18:00,040 --> 00:18:03,370
the equilibrium price level that
is found exactly in the halfway
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00:18:03,370 --> 00:18:05,170
point of the consolidation range.
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00:18:05,650 --> 00:18:09,310
And I'll show you an example,
what that looks like here.
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We see here where we've identified
a range defined specifically by the
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00:18:13,120 --> 00:18:15,370
bodies of the candles, not the wicks.
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00:18:15,940 --> 00:18:18,160
Now you can see price
moves out in an expensive.
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00:18:18,689 --> 00:18:21,210
Manor and then comes right back
down to the equilibrium price
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00:18:21,210 --> 00:18:26,070
point and then expands to the
outside by having an understanding
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00:18:26,070 --> 00:18:30,689
of these specific characteristics
and elements of trading a setup.
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00:18:31,020 --> 00:18:35,189
You'll give yourself framework to first
learn how to practice and study price
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00:18:35,189 --> 00:18:41,070
action and eventually work towards
understanding consistent set up discovery.
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00:18:42,390 --> 00:18:45,780
By utilizing the time with me on a daily
basis, we'll be able to frame these
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00:18:46,080 --> 00:18:50,760
characteristics and pull out specific
elements to a trade set up by repetition.
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00:18:51,000 --> 00:18:59,070
And by using daily time with me, where we
can outline the elements of a trade setup,
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00:18:59,100 --> 00:19:02,930
we'll be able to do all of these things
in a manner where you able to reach.
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00:19:04,965 --> 00:19:08,205
Make it yours, you'll be able to
discover really what type of trade
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00:19:08,215 --> 00:19:10,665
you're going to be, because one of
these characteristics is going to
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00:19:10,665 --> 00:19:12,345
be your bread and butter condition.
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00:19:13,800 --> 00:19:15,780
We'll trust the equilibrium.
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00:19:16,260 --> 00:19:18,900
Some of you will trust the order block.
310
00:19:19,110 --> 00:19:23,250
Some of you will look for the void
or the liquidity gaps that trade
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00:19:23,250 --> 00:19:27,330
into, uh, some of you will have one
or two of these characteristics and
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00:19:27,330 --> 00:19:29,820
you'll trade within those parameters.
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00:19:29,820 --> 00:19:31,050
They'll, they'll frame your trades.
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00:19:31,350 --> 00:19:34,110
Some of you will eventually grow
into understanding all of them and be
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00:19:34,110 --> 00:19:37,560
universal, but don't think that you
have to have all of them well-known
316
00:19:37,560 --> 00:19:39,960
in under your belt before you actually
consistent, because you can just
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00:19:39,960 --> 00:19:42,810
find one element as we described.
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00:19:43,455 --> 00:19:48,764
If we just find one for you, just
for you, one, you can start being
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00:19:48,764 --> 00:19:51,014
consistently profitable in your trading.
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00:19:51,584 --> 00:19:55,345
It only takes one set up either
one context or framework.
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00:19:55,345 --> 00:19:58,995
You're going to trade in couple
that with an ICT toll and
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00:19:58,995 --> 00:19:59,865
then wait for those conduct.
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00:20:00,635 --> 00:20:03,335
You're not going to get a trade
every single day, but you can get
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00:20:03,335 --> 00:20:04,505
a couple of them every single week.
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00:20:05,795 --> 00:20:09,995
If you look at four major pairs with
one condition or criteria, you'll find
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00:20:09,995 --> 00:20:13,625
a trade every single day, but that's
not what you're trying to do right now.
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00:20:13,865 --> 00:20:15,365
You're going to grow into that over time.
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00:20:15,755 --> 00:20:19,645
But for now, just go through your charts
and try to look at all the examples
329
00:20:19,655 --> 00:20:22,445
it's already happened in the left
side of your chart and outline them
330
00:20:22,445 --> 00:20:25,865
individually based on the characteristics
and elements that we've identified
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00:20:25,865 --> 00:20:28,145
here in this teaching until then.
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00:20:28,780 --> 00:20:30,580
I wish you good luck and good trading.
29101
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