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These are the user uploaded subtitles that are being translated: 1 00:00:17,190 --> 00:00:17,790 Welcome back folks. 2 00:00:17,790 --> 00:00:19,080 This is less than 6.1. 3 00:00:19,770 --> 00:00:21,120 Oh the January, 2017. 4 00:00:21,120 --> 00:00:23,850 ICT mentorship, defining high timeframe PD. 5 00:00:30,290 --> 00:00:30,500 Okay. 6 00:00:30,530 --> 00:00:31,820 When we look at a chart. 7 00:00:33,105 --> 00:00:34,605 Regardless of what timeframe we're looking at. 8 00:00:34,605 --> 00:00:37,665 It, uh, there's two elements that come to mind as a trader. 9 00:00:37,665 --> 00:00:40,905 Obviously we think in terms of support or resistance, or we think in terms 10 00:00:40,905 --> 00:00:44,685 of a volume we're sold, we think in terms of purchase patterns, uh, 11 00:00:44,715 --> 00:00:50,355 secondary, but, uh, generally we think of a price being valued too low or 12 00:00:50,355 --> 00:00:52,785 too cheap or expensive or too high. 13 00:00:53,505 --> 00:00:55,155 And the algorithm. 14 00:00:55,935 --> 00:00:58,755 Has similar thought processes built into it. 15 00:00:59,445 --> 00:01:03,015 And we look at it in the form of a premium and a discount 16 00:01:03,015 --> 00:01:05,775 market for sake of discussion. 17 00:01:06,045 --> 00:01:10,995 Just think of this red line at the top as a resistance and a blue level 18 00:01:10,995 --> 00:01:12,555 on the bottom being supportive. 19 00:01:14,250 --> 00:01:17,880 As price starts to move away from a level that would be viewed as too cheap 20 00:01:17,910 --> 00:01:22,380 or support naturally our expectations as traders, we expect to see price 21 00:01:22,380 --> 00:01:29,039 move higher when it does this, we're confirmed to see a response moving up 22 00:01:29,039 --> 00:01:31,080 to a resistance point of some kind. 23 00:01:31,440 --> 00:01:34,619 Now the problem is with retail trading and with technical analysis as a 24 00:01:34,619 --> 00:01:37,169 whole by itself, it doesn't help. 25 00:01:37,950 --> 00:01:41,610 Because every one of us could come to the conclusion that a specific 26 00:01:41,610 --> 00:01:45,240 level above current price action would be a resistance level. 27 00:01:46,470 --> 00:01:50,160 Some of us will see it as a, an old low day would be trading to some of 28 00:01:50,160 --> 00:01:53,490 us would see in old high, some of us would see something else that would 29 00:01:53,490 --> 00:01:59,430 equate to a resistance level now to remove all the ambiguity, you have 30 00:01:59,430 --> 00:02:01,500 to have a mindset going into it. 31 00:02:02,925 --> 00:02:07,125 This teaching is to teach you the air arche on the tools that 32 00:02:07,125 --> 00:02:09,015 I use for framing the trades. 33 00:02:09,675 --> 00:02:13,485 Now these same arrays are the same things that we've talked about since 34 00:02:13,485 --> 00:02:16,575 the beginning of the mentorship, but we're going to prevent you from 35 00:02:16,575 --> 00:02:19,785 having them in a disorganized fashion. 36 00:02:20,175 --> 00:02:22,575 In other words, there's an air archi and how they are used 37 00:02:22,875 --> 00:02:23,715 and how you look for them. 38 00:02:23,715 --> 00:02:29,385 And price is price makes a retracement lower from a support level. 39 00:02:30,420 --> 00:02:34,500 How far does it usually retrace back all of us, again, based on different 40 00:02:34,500 --> 00:02:38,040 walks of technical analysis and different disciplines, we'll all 41 00:02:38,040 --> 00:02:39,140 have our different conclusions. 42 00:02:39,140 --> 00:02:40,410 Some of us would use a Fibonacci. 43 00:02:40,680 --> 00:02:44,519 Some of us would use some fashion of support and resistance. 44 00:02:44,760 --> 00:02:48,870 Some of us would use Elliott wave and ratios and harmonic patterns, 45 00:02:48,870 --> 00:02:50,340 all kinds of things would come up. 46 00:02:51,390 --> 00:02:52,950 By way of discussion. 47 00:02:53,250 --> 00:02:56,549 If we were in a round table meeting where you're all sitting in the same 48 00:02:56,549 --> 00:03:00,030 room together, we all have different opinions about how far it would retrace. 49 00:03:00,299 --> 00:03:02,790 Some of us wouldn't even, even to expect expected to retracement. 50 00:03:03,420 --> 00:03:03,780 Okay. 51 00:03:04,019 --> 00:03:07,350 Some of us would not see this as a retracement, but a beginning 52 00:03:07,350 --> 00:03:11,220 of an all-out reversal to trade below the old low that's. 53 00:03:11,220 --> 00:03:11,790 The problem. 54 00:03:11,940 --> 00:03:15,350 Every trader is plagued with when they come into this business, who's. 55 00:03:16,454 --> 00:03:21,644 Who has the means of knowing with great deal of prognostication, what 56 00:03:21,674 --> 00:03:25,005 is a support level and what is the resistance level and therefore, what 57 00:03:25,005 --> 00:03:29,625 will propel price away from current market action, higher or lower? 58 00:03:29,655 --> 00:03:33,704 Because the common adage is if I knew where price was going next, I 59 00:03:33,704 --> 00:03:34,665 would need to know anything else. 60 00:03:34,665 --> 00:03:35,355 I would make money. 61 00:03:35,715 --> 00:03:38,685 That's not true because you would find some other way to lose 62 00:03:38,685 --> 00:03:40,635 money over leveraging or, or. 63 00:03:42,209 --> 00:03:44,549 Doing something different you shouldn't be doing and you'll break 64 00:03:44,549 --> 00:03:48,209 a roll and you'll get emotional or psychological impact because of that. 65 00:03:48,239 --> 00:03:49,510 And you'll end up blowing the. 66 00:03:51,195 --> 00:03:57,525 So when we look at charts, we want to be viewing price in terms of, are we in a 67 00:03:57,525 --> 00:04:02,235 premium or are we in a discount market, uh, earlier in the mentorship I taught 68 00:04:02,235 --> 00:04:05,835 how you could do that, but we're gonna talk a little bit more in terms of how 69 00:04:05,835 --> 00:04:11,655 to frame that on hard timeframe charts in the form of an air arche with the. 70 00:04:13,500 --> 00:04:16,530 As price starts to retrace and then moves higher. 71 00:04:16,920 --> 00:04:18,570 It hits a level of resistance. 72 00:04:18,600 --> 00:04:23,010 Now for the sake of discussion, we're going to say, we collectively understand 73 00:04:23,070 --> 00:04:29,190 what would deem a resistance level to, to remove all the, uh, secondary, 74 00:04:29,250 --> 00:04:30,570 uh, discussions that we could have. 75 00:04:30,570 --> 00:04:35,520 If we were a front in front of one another in the same setting, you know, a live 76 00:04:35,520 --> 00:04:38,430 setting where we could literally shake hands and talk, all of us would have 77 00:04:38,430 --> 00:04:40,140 an opinion about what would constitute. 78 00:04:41,010 --> 00:04:44,849 Resistance level, but we're going to say that this level that's 79 00:04:44,849 --> 00:04:48,929 noted as red, that is the commonly agreed bond resistance level. 80 00:04:50,549 --> 00:04:52,950 The reasonable expectation would be to see price move away. 81 00:04:53,479 --> 00:04:54,419 And the price does that. 82 00:04:55,560 --> 00:04:58,500 Some of us would expect one more, try to get to that level, maybe 83 00:04:58,500 --> 00:04:59,700 to go through it or to fail. 84 00:05:00,210 --> 00:05:01,169 That's how I trade. 85 00:05:01,169 --> 00:05:03,150 That's how I expect to see price react. 86 00:05:03,750 --> 00:05:06,359 Some of us would not even expect that they would expect this one-time 87 00:05:06,719 --> 00:05:08,520 punch up air and all the other, all. 88 00:05:10,784 --> 00:05:12,705 This is the type of setup I like to see here. 89 00:05:13,184 --> 00:05:15,794 Another pass towards that old high either. 90 00:05:15,794 --> 00:05:19,784 It's going to give me a run-through or false break, or it's going 91 00:05:19,784 --> 00:05:20,984 to give me a failure swing. 92 00:05:21,825 --> 00:05:24,974 We talked about classifying institutional price swings. 93 00:05:25,275 --> 00:05:29,025 That's what we'd done for that teaching here. 94 00:05:29,025 --> 00:05:32,385 I want you to start thinking in terms of premium and discount on 95 00:05:32,385 --> 00:05:36,315 higher timeframe charts, because the air arche on how you view this. 96 00:05:37,095 --> 00:05:40,905 Is going to help you, whether you're a day trader scalper position 97 00:05:40,905 --> 00:05:44,265 trader short-term trader with the expectation of lower prices, how 98 00:05:44,265 --> 00:05:46,065 far we expect to see price go down? 99 00:05:46,635 --> 00:05:51,765 Well, the first impulse leg, and then retracement, then as a second 100 00:05:51,765 --> 00:05:56,835 leg, higher hitting that resistance level, that secondary impulse leg. 101 00:05:57,165 --> 00:05:58,695 That's probably going to be a good reason. 102 00:05:59,625 --> 00:06:01,635 Expectation for support level. 103 00:06:02,294 --> 00:06:03,615 Now it could be a bullish order block. 104 00:06:04,065 --> 00:06:08,715 It could be a, uh, an old short-term high in there on a lower timeframe. 105 00:06:08,715 --> 00:06:13,995 If this was a monthly chart, uh, at that low, there may be a daily short-term 106 00:06:13,995 --> 00:06:18,255 high that would create a, a support level that can't be seen on a monthly chart. 107 00:06:18,974 --> 00:06:22,575 So when we're looking at these higher timeframe charts, just understand 108 00:06:22,575 --> 00:06:26,715 that there's going to be levels that exist inside of larger price swings. 109 00:06:28,260 --> 00:06:30,990 You may not see, unless you go down to the lower timeframe. 110 00:06:31,200 --> 00:06:35,100 Now, when I say lower timeframe, I'm only referring to the daily because a hard 111 00:06:35,100 --> 00:06:38,280 time for me analysis is all we're focusing on here, nothing below the daily chart. 112 00:06:39,840 --> 00:06:42,420 So for assuming that this is a monthly chart and we're looking at 113 00:06:42,420 --> 00:06:44,490 price, the expectation is, is okay. 114 00:06:44,490 --> 00:06:50,159 Well at that old low, we would expect to see some lower timeframe support level. 115 00:06:50,400 --> 00:06:52,920 And then again, it could be the monthly bullish order block. 116 00:06:53,100 --> 00:06:54,630 It could be a week. 117 00:06:55,469 --> 00:06:59,190 Bullish shoulder block, or it could be a daily short-term high. 118 00:06:59,880 --> 00:07:03,180 You may not be able to see it inside that, that little wall there. 119 00:07:03,840 --> 00:07:08,490 But nonetheless, when we look at price swings back and forth on a chart, whether 120 00:07:08,490 --> 00:07:12,810 it be monthly, weekly, or daily and even lower timeframes, you have to understand 121 00:07:12,810 --> 00:07:16,260 that there's swings that exist and support levels and resistance levels 122 00:07:16,260 --> 00:07:18,270 that exist in the lower timeframes. 123 00:07:18,270 --> 00:07:24,599 That may not be so apparent using these hard timeframe charts that is not. 124 00:07:25,380 --> 00:07:29,220 What you base the majority of your trades on what you're really doing 125 00:07:29,220 --> 00:07:34,350 is you're gonna be using the monthly chart and the weekly chart to frame 126 00:07:34,350 --> 00:07:38,580 the context of what that market should be doing using these PDA rays. 127 00:07:39,570 --> 00:07:43,950 So if we watch price and it continues to trade higher here, 128 00:07:44,280 --> 00:07:47,400 where, where would you reasonably expect to see price trade to that? 129 00:07:47,400 --> 00:07:49,890 Short-term little swing low at the failure swing. 130 00:07:50,460 --> 00:07:53,610 That's going to be what the potential mitigation. 131 00:07:54,720 --> 00:07:58,890 It means any orders that were used to go long, but failed to make another pass 132 00:07:58,890 --> 00:08:02,250 at that old high they're underwater now. 133 00:08:02,430 --> 00:08:08,910 So they're going to look to mitigate those losses and cover their long 134 00:08:08,910 --> 00:08:13,140 positions and go short potentially, or just get out of the trade. 135 00:08:13,560 --> 00:08:15,270 But smart mind just doesn't cut losses. 136 00:08:15,270 --> 00:08:16,140 They know what they're doing. 137 00:08:16,500 --> 00:08:18,150 They scale in scale out in the hedge. 138 00:08:18,180 --> 00:08:19,920 So this would be another selling opportunity. 139 00:08:20,940 --> 00:08:26,460 The market seeks liquidity below the low and below the second impulse swing 140 00:08:27,210 --> 00:08:28,890 prior to the run into resistance. 141 00:08:29,610 --> 00:08:31,500 So it seeks liquidity below the marketplace. 142 00:08:31,890 --> 00:08:35,640 Once it takes that liquidity out, it can drive all the way down to that 143 00:08:35,640 --> 00:08:40,530 old support level, but generally it doesn't, it will retrace again and 144 00:08:40,530 --> 00:08:42,240 pick up more orders back at an old. 145 00:08:45,875 --> 00:08:50,525 Where we'd see another opportunity to sell off and take out to liquidity below 146 00:08:50,525 --> 00:08:51,995 a short-term load that was just created. 147 00:08:52,295 --> 00:08:56,615 And back down to a logical area of support, the expectation would be what 148 00:08:56,645 --> 00:08:58,685 the C price bounce price does this. 149 00:08:59,550 --> 00:09:00,540 When price starts to retrace. 150 00:09:00,540 --> 00:09:02,880 Again, some of us, if we were all in the same room, we would 151 00:09:02,880 --> 00:09:06,630 expect to see that price low, to be violated in a new, low created. 152 00:09:06,990 --> 00:09:08,010 Sometimes that'll happen. 153 00:09:08,430 --> 00:09:09,150 Sometimes it won't. 154 00:09:10,230 --> 00:09:13,469 This failure swinging here could be used, set up another long 155 00:09:13,469 --> 00:09:17,550 opportunity for price rallies in the here's the million dollar question. 156 00:09:18,780 --> 00:09:21,000 The understanding is how price moves from one level to the. 157 00:09:22,185 --> 00:09:27,555 But predominantly it's moving from a level of discount to a level of premium from a 158 00:09:27,555 --> 00:09:33,555 level of premium, to a level of discount between the red line and the blue line. 159 00:09:34,244 --> 00:09:36,885 They are extremes in the middle. 160 00:09:37,935 --> 00:09:41,265 That's classified as equilibrium or. 161 00:09:42,900 --> 00:09:45,120 Buying imbalance is seen. 162 00:09:45,120 --> 00:09:49,110 Moon price gets above equilibrium or up into that red level, 163 00:09:49,110 --> 00:09:49,980 which would be resistance. 164 00:09:50,250 --> 00:09:53,699 Selling imbalance would be when price gets below equilibrium and 165 00:09:53,699 --> 00:09:57,390 down into the blue line or what would be just drived as discount. 166 00:10:00,120 --> 00:10:02,520 So where would you expect to see price go next? 167 00:10:03,209 --> 00:10:04,800 That's what you're always faced with. 168 00:10:05,250 --> 00:10:06,540 When you sit down in front of the charts. 169 00:10:07,755 --> 00:10:13,995 This discussion, we're going to use the common ICT tools as far as, 170 00:10:14,025 --> 00:10:19,275 uh, set up parameters in the form of the way they form on charts. 171 00:10:19,695 --> 00:10:22,635 In other words, the order in which they form and how they use 172 00:10:22,635 --> 00:10:25,425 them based on wherever you're at, in terms of the marketplace, 173 00:10:31,735 --> 00:10:33,205 we're using this teaching. 174 00:10:34,350 --> 00:10:37,350 As a foundation, that's going to lead us into a better 175 00:10:37,350 --> 00:10:38,640 understanding of this example. 176 00:10:38,640 --> 00:10:42,180 We showed, we were discussing money management for the January content. 177 00:10:42,569 --> 00:10:48,390 So less than five, that example for the dollar yen pair for a long-term 178 00:10:48,390 --> 00:10:54,300 position trade, this idea will be used as an example on framing PDA 179 00:10:54,310 --> 00:10:55,949 rays on higher timeframe charts. 180 00:10:55,980 --> 00:11:01,635 But before we get into that teaching for six points, We have to do the 181 00:11:01,635 --> 00:11:05,865 foundation to understand what we look for and why we expect it to unfold. 182 00:11:06,495 --> 00:11:07,065 Like we would 183 00:11:11,715 --> 00:11:11,955 okay. 184 00:11:11,955 --> 00:11:18,195 Again, using our thought process of premium, which would be the red line and 185 00:11:18,195 --> 00:11:19,575 discount, which will be the blue line. 186 00:11:20,565 --> 00:11:23,175 When you look at charts, you want to see where a price has 187 00:11:23,175 --> 00:11:24,255 moved away from an old time. 188 00:11:25,155 --> 00:11:28,035 And it's dropping down from an area of premium and where 189 00:11:28,035 --> 00:11:29,265 it's it's too, it's too high. 190 00:11:29,475 --> 00:11:32,355 So the evaluation is going to be reduced and dropped lower. 191 00:11:32,505 --> 00:11:37,365 So repricing takes place and the market goes down and the price goes lower as 192 00:11:37,365 --> 00:11:41,115 a result of it until it gets to a point where it's too much of a discount, then 193 00:11:41,115 --> 00:11:42,885 there has to be a premium built into it. 194 00:11:43,755 --> 00:11:47,085 The algorithm will do this moving price back and forth, back and forth, 195 00:11:47,085 --> 00:11:51,375 back and forth until again, something of significant impact comes into the 196 00:11:51,375 --> 00:11:52,995 marketplace and dries the market. 197 00:11:52,995 --> 00:11:53,445 One second. 198 00:11:54,225 --> 00:11:55,635 And it creates a strong imbalance. 199 00:11:55,995 --> 00:11:58,185 Otherwise the market's just going to gyrate back and forth, 200 00:11:58,215 --> 00:12:02,925 looking for liquidity based on premium and discount conditions. 201 00:12:05,625 --> 00:12:07,605 We'll assume for a moment right now in the market prices. 202 00:12:08,564 --> 00:12:08,864 Okay. 203 00:12:08,864 --> 00:12:12,375 And we can clearly see that the market in recent times had a clear 204 00:12:12,375 --> 00:12:16,935 discernible level of resistance and a clear discernible level of support. 205 00:12:17,505 --> 00:12:20,714 Now that can come in the form of bullish and bearish shorter blocks, or it 206 00:12:20,714 --> 00:12:23,564 could be just old highs and old lows, and we'll just use all highs and lows. 207 00:12:23,564 --> 00:12:29,324 As an example for this discussion, your expectation is, is right now 208 00:12:29,474 --> 00:12:31,185 prices at a level where it should. 209 00:12:32,145 --> 00:12:37,245 By all standards move lower because it's at a classic viewed resistance level. 210 00:12:38,025 --> 00:12:42,225 We don't know how long that time is going to be required before the 211 00:12:42,225 --> 00:12:47,535 market does in fact, submit to our expectation and see a lower price. 212 00:12:48,105 --> 00:12:50,775 So that timeframe, okay. 213 00:12:51,194 --> 00:12:54,645 That part is what you're always going to have to submit to time is a murderer. 214 00:12:54,645 --> 00:12:58,859 It's a killer for traders, unless, you know, That some of these ideas are going 215 00:12:58,859 --> 00:13:00,270 to paint out for a long, long time. 216 00:13:00,599 --> 00:13:03,420 You're going to do a lot of things psychologically and emotionally 217 00:13:03,420 --> 00:13:06,089 that you wish you wouldn't have done because you haven't submitted 218 00:13:06,089 --> 00:13:07,770 to that time aspect of trading. 219 00:13:08,160 --> 00:13:09,599 There's two elements in trading. 220 00:13:09,599 --> 00:13:12,990 You have to submit to time and price when they both agree with 221 00:13:12,990 --> 00:13:16,740 one another and you have waited for that agreement to come to fruition. 222 00:13:17,400 --> 00:13:18,959 That's where profitability and opportunities. 223 00:13:20,615 --> 00:13:24,094 So we're looking at price and we have no idea how long time is going 224 00:13:24,094 --> 00:13:28,805 to be required of us to wait before the displacement takes place. 225 00:13:30,094 --> 00:13:34,055 But eventually our expectation is we'll see lower prices down to a level of. 226 00:13:36,075 --> 00:13:40,005 And that's what we're expecting or forecasting as a future price in between 227 00:13:40,005 --> 00:13:45,285 these two pref reference points again, time and price is what's essential. 228 00:13:45,285 --> 00:13:49,665 You have to submit to the level of time, which no one knows how much time 229 00:13:49,665 --> 00:13:53,865 is going to be required before your setup pans out or goes to profitable. 230 00:13:54,959 --> 00:13:56,939 Price is what you're studying. 231 00:13:57,270 --> 00:14:01,439 You're submitting to time throughout the process, but while you are in the trade 232 00:14:01,439 --> 00:14:06,420 or expecting this to unfold, studying it, you're submitting to the price. 233 00:14:06,719 --> 00:14:07,079 You know what? 234 00:14:07,079 --> 00:14:08,819 You're not trying to force your will on price. 235 00:14:09,089 --> 00:14:12,510 You're analyzing price to see what it is that it's telling you in 236 00:14:12,510 --> 00:14:13,949 terms of institutional order flow. 237 00:14:14,250 --> 00:14:18,449 Is it justifying your expectation that it wants to go down to that discount level 238 00:14:18,510 --> 00:14:21,449 or some bullish or block to buy back off? 239 00:14:22,240 --> 00:14:26,980 And cover a short position, or it could be a whole load at once to run below that 240 00:14:26,980 --> 00:14:30,939 future price could be a number of things, but for now, we're just going to aim for 241 00:14:30,939 --> 00:14:35,439 an old low between the market price today and the future price that you anticipate 242 00:14:35,439 --> 00:14:37,270 or forecast lower in the future. 243 00:14:37,930 --> 00:14:41,350 There's going to be zero opportunity for it to be a straight line. 244 00:14:41,380 --> 00:14:43,810 In other words, you're not seeing that diagonal line in 245 00:14:43,810 --> 00:14:44,709 the way the market trades. 246 00:14:44,709 --> 00:14:47,949 It just doesn't do that is always some give and take that takes place. 247 00:14:48,189 --> 00:14:48,459 So. 248 00:14:49,800 --> 00:14:56,250 Uh, understanding where certain arrays occur in that process will help you. 249 00:14:56,430 --> 00:15:00,240 Number one, stay with the trade idea, not be shaken out of it and have the 250 00:15:00,240 --> 00:15:05,030 confidence to hold until the objective is met or your stock gets taken in. 251 00:15:05,040 --> 00:15:06,959 It's simply moving to the next opportunity. 252 00:15:07,290 --> 00:15:11,550 The opposite is seen when you're looking for a bullish scenario, 253 00:15:13,459 --> 00:15:14,630 everything's just reverse. 254 00:15:15,870 --> 00:15:18,990 You expect that market price to be in the future at a premium. 255 00:15:19,050 --> 00:15:20,640 In other words, it's going to be harder than it is today. 256 00:15:21,390 --> 00:15:26,790 Again, you have no idea how long time is going to be required to get to 257 00:15:26,790 --> 00:15:28,890 your future price or forecasted price. 258 00:15:29,459 --> 00:15:33,569 And you have to submit to that the measure of time that is an unknown you can't 259 00:15:33,569 --> 00:15:37,349 know for certainty, how many days or how many hours or how many months it will be 260 00:15:37,349 --> 00:15:39,030 before that price has actually arrived at. 261 00:15:41,305 --> 00:15:44,875 But you also have to be studying price and again, monitoring and studying 262 00:15:45,175 --> 00:15:50,365 the, the PD arrays that occur in price action that leads to supporting your 263 00:15:50,365 --> 00:15:52,195 expectation on institutional order flow. 264 00:15:52,195 --> 00:15:54,925 That would drive price up into that premium level. 265 00:15:56,095 --> 00:16:00,445 The understanding is that price will move from a discount to a premium 266 00:16:01,165 --> 00:16:03,595 because the discount can't stay discount. 267 00:16:03,595 --> 00:16:04,015 Very long. 268 00:16:04,135 --> 00:16:07,285 Price is going to be established by whoever is selling it. 269 00:16:07,285 --> 00:16:08,185 Who, who stands there. 270 00:16:09,015 --> 00:16:09,915 A profit off of it. 271 00:16:10,335 --> 00:16:13,905 Well, the central bank is going to be in the business of adjusting price. 272 00:16:14,175 --> 00:16:19,185 So if we know that they are in control of price, ultimately by way of steering 273 00:16:19,215 --> 00:16:25,035 sentiment in economies, through the delivery of an interest rate long-term 274 00:16:25,495 --> 00:16:30,195 to stimulate or to suppress an economy for our country, we have to view 275 00:16:30,195 --> 00:16:33,525 the market in terms of technicals to align ourselves with these ideas. 276 00:16:33,525 --> 00:16:35,775 So if we see a level of. 277 00:16:37,834 --> 00:16:39,035 Our expectation is okay. 278 00:16:39,064 --> 00:16:42,545 Where is the evidence that this thing will go to a premium market? 279 00:16:43,324 --> 00:16:44,375 Where's the premium market. 280 00:16:44,375 --> 00:16:47,285 Where's the resistance at where's the higher level that I would want to see 281 00:16:47,285 --> 00:16:51,125 at trade two between the market price you're at right now in that future. 282 00:16:52,020 --> 00:16:55,260 Again, it never happens in a straight line there's time that you have new 283 00:16:55,260 --> 00:16:59,160 understanding of exactly how long it's going to be, but there's also an 284 00:16:59,160 --> 00:17:00,839 element of price that you have to study. 285 00:17:00,930 --> 00:17:03,420 In other words, just because you think it's going there, it 286 00:17:03,420 --> 00:17:04,560 doesn't mean it's going there. 287 00:17:04,619 --> 00:17:06,930 It could go halfway there and fail and go lower. 288 00:17:07,649 --> 00:17:11,849 Nonetheless, what we're going to do is I'm going to outline now the arrays 289 00:17:11,909 --> 00:17:13,950 and keep them in a specific order. 290 00:17:13,950 --> 00:17:17,250 So that way, you know, wherever you're at in terms of market price, what you would 291 00:17:17,250 --> 00:17:18,960 expect to see or what you're looking for. 292 00:17:19,830 --> 00:17:22,800 Okay now w what should I be looking for in a roadblock? 293 00:17:22,890 --> 00:17:25,410 Or should I be looking for a gap? 294 00:17:25,500 --> 00:17:27,030 You w what should I look for right now? 295 00:17:27,420 --> 00:17:28,650 That's what this teaching's going to do. 296 00:17:31,320 --> 00:17:31,500 Okay. 297 00:17:31,500 --> 00:17:32,820 For a monthly chart. 298 00:17:33,330 --> 00:17:33,510 Okay. 299 00:17:33,510 --> 00:17:36,210 What you're going to do is you're going to look at the current 300 00:17:36,210 --> 00:17:37,380 trading range that it's in. 301 00:17:37,990 --> 00:17:38,360 Okay. 302 00:17:39,284 --> 00:17:42,915 So we're gonna assume that you outlined the marketplace in terms of old 303 00:17:42,915 --> 00:17:46,335 highs and old lows on a monthly, and that's the easiest way of doing it. 304 00:17:46,965 --> 00:17:49,665 There's other ways you can do it, but for now, we're just going to outline it in 305 00:17:49,665 --> 00:17:54,105 the context at the most recent trading range that the market has moved from 306 00:17:54,165 --> 00:18:01,455 an old high to an old low, that would be our premium and discount definition. 307 00:18:03,090 --> 00:18:06,630 In between these two reference points, halfway point, this is always going 308 00:18:06,630 --> 00:18:11,700 to be referred to as equilibrium now, equilibrium between where you think 309 00:18:11,700 --> 00:18:16,500 price will go, because it's been there before and where it's at right now, 310 00:18:17,040 --> 00:18:20,610 relative to an old high and old low that's the current trading range. 311 00:18:20,700 --> 00:18:23,610 And I'll give you an example, what that looks like when we go into lesson 312 00:18:23,610 --> 00:18:27,690 6.2, but for now I want to lay the foundations for what it is you look for. 313 00:18:29,460 --> 00:18:34,080 The first thing above equilibrium in the form of an array is 314 00:18:34,080 --> 00:18:35,490 an old high and old low. 315 00:18:36,390 --> 00:18:38,760 You want to be looking for that above equilibrium. 316 00:18:41,340 --> 00:18:45,690 The next thing that you'd be looking for, and this is in the order of importance. 317 00:18:46,170 --> 00:18:46,530 Okay. 318 00:18:47,430 --> 00:18:49,740 Old, high, old loyal, then the next thing you'd be looking for as 319 00:18:49,740 --> 00:18:53,080 a rejection block rejection block would be just above the candles. 320 00:18:54,030 --> 00:18:54,900 Not the Wix. 321 00:18:55,350 --> 00:19:00,030 So the actual high and low is the wick, but then the next area of 322 00:19:00,030 --> 00:19:02,370 importance is the rejection block. 323 00:19:02,370 --> 00:19:08,590 That would you be just above the candles, body and the bearish order 324 00:19:08,590 --> 00:19:21,430 block, a fair value gap, liquidity void, bearish breaker, and the mitigation. 325 00:19:23,235 --> 00:19:24,014 Put another way. 326 00:19:25,125 --> 00:19:29,745 If we were at equilibrium and we were moving away from a premium level or 327 00:19:29,745 --> 00:19:33,615 at resistance, in other words, price already dropped down and we anticipate 328 00:19:33,615 --> 00:19:38,475 price going lower down to a level of support or monthly discount we would be 329 00:19:38,475 --> 00:19:41,085 looking for above current market action. 330 00:19:41,085 --> 00:19:44,205 Again, assuming that we're at equilibrium right now, we would start 331 00:19:44,205 --> 00:19:47,294 looking above current market action in the past and left side of our chart. 332 00:19:47,895 --> 00:19:49,514 Where's the nearest mitigation block. 333 00:19:49,575 --> 00:19:50,325 There may not be. 334 00:19:51,165 --> 00:19:52,304 Okay, check that off. 335 00:19:53,054 --> 00:19:54,794 Where's the nearest barest breaker. 336 00:19:55,274 --> 00:19:56,715 There may not be one of those either. 337 00:19:57,074 --> 00:19:57,405 Okay. 338 00:19:57,465 --> 00:19:58,094 Check that off. 339 00:19:58,544 --> 00:20:01,004 But if there is one, then you would reasonably expect to see 340 00:20:01,004 --> 00:20:02,685 price trade up to that price point. 341 00:20:04,245 --> 00:20:07,755 Then expect some selling to go lower and once it moves below equilibrium, 342 00:20:07,755 --> 00:20:10,965 then you would be all set to go to the monthly discount or support. 343 00:20:11,535 --> 00:20:13,935 But let's assume for a moment, a mitigation block isn't there 344 00:20:14,235 --> 00:20:15,855 and the breaker isn't there. 345 00:20:16,125 --> 00:20:17,355 What would you look for next? 346 00:20:17,475 --> 00:20:17,835 Okay. 347 00:20:17,865 --> 00:20:21,015 Well, the next order of air arche is liquidity void. 348 00:20:21,645 --> 00:20:23,295 Is there a range that needs to be closed then? 349 00:20:24,165 --> 00:20:26,445 Again, that may not be so clear. 350 00:20:27,465 --> 00:20:27,975 Check that off. 351 00:20:27,975 --> 00:20:28,515 No problem. 352 00:20:28,605 --> 00:20:32,505 The next thing is there a fair value gap again, that might not exist? 353 00:20:33,990 --> 00:20:36,090 Go to the next thing, bearish order block. 354 00:20:36,570 --> 00:20:37,710 It's probably going to be there. 355 00:20:38,340 --> 00:20:39,389 Chances are, it's very strong. 356 00:20:39,389 --> 00:20:40,020 It's going to be there. 357 00:20:40,470 --> 00:20:41,910 So what did this give you? 358 00:20:42,090 --> 00:20:44,190 I gave you the hierarchy and what you look for. 359 00:20:44,820 --> 00:20:48,480 The mitigation block is going to be first considered before you 360 00:20:48,480 --> 00:20:49,470 get to the bear shorter block. 361 00:20:50,670 --> 00:20:52,680 Cause the bears water blocks can be really high up in the premium 362 00:20:53,700 --> 00:20:54,990 mitigation block is going to be level. 363 00:20:55,845 --> 00:20:58,815 Mitigation and breakers are basically mitigation blocks, but 364 00:20:59,355 --> 00:21:05,235 generally mitigation blocks can occur lower than breakers, small 365 00:21:05,235 --> 00:21:06,455 little bounces in bear markets. 366 00:21:06,485 --> 00:21:07,725 Would it be a mitigation block? 367 00:21:07,725 --> 00:21:13,155 Basically a bearish Spreaker will keep your ability to get to a bearish order 368 00:21:13,155 --> 00:21:17,055 block, which will be resting higher up in the premium when an old highs taken 369 00:21:17,055 --> 00:21:21,764 out that down candle right before the second highs made, taking out an old time. 370 00:21:23,024 --> 00:21:23,615 Or turtle soup. 371 00:21:23,625 --> 00:21:28,784 In other words, that down candle, if it's retreated to, that's going to 372 00:21:28,784 --> 00:21:33,345 be a bearish breaker, that's going to keep you from seeing most likely 373 00:21:33,345 --> 00:21:36,645 high probability that it won't allow you to get to a bear shorter block. 374 00:21:37,125 --> 00:21:41,235 So whenever you see bearish breakers just don't expect the 375 00:21:41,235 --> 00:21:42,435 bearish order block to be hit. 376 00:21:42,855 --> 00:21:43,115 Okay. 377 00:21:43,125 --> 00:21:46,754 Cause it's going to most likely keep price lower, cause that's going to be the 378 00:21:46,754 --> 00:21:50,205 most dominant, um, array of all these. 379 00:21:51,300 --> 00:21:57,590 There is a liquidity void that would be viewed with there's no breaker, and 380 00:21:57,590 --> 00:22:00,990 you can close in that range and it may take you off into a fair value gap or 381 00:22:00,990 --> 00:22:04,890 a bearish order block, but breakers by themselves, even though they're 382 00:22:04,890 --> 00:22:08,910 low end on this list, that's the first thing you're going to encounter because 383 00:22:08,910 --> 00:22:12,360 if you're at equilibrium and price has already been moving away from the 384 00:22:12,360 --> 00:22:16,440 resistance level, you're looking up now for any potential areas to resell at. 385 00:22:17,580 --> 00:22:21,690 First, when you look at, as the mitigation block or bear Spreaker, and if there's 386 00:22:21,690 --> 00:22:24,810 neither of those, you look for liquidity, void the trade up into the closing that. 387 00:22:26,295 --> 00:22:27,975 Warfare value gap to close in. 388 00:22:28,185 --> 00:22:29,205 They may not be any of that. 389 00:22:29,235 --> 00:22:31,665 Then you would expect to see the bear shorter block to be traded to. 390 00:22:32,085 --> 00:22:34,575 Then that would be your selling opportunity because you're at a 391 00:22:34,575 --> 00:22:37,305 premium and you go to a logical area where institutional order flow would 392 00:22:37,305 --> 00:22:43,515 kick in new orders would capitalize and into selling into if there isn't 393 00:22:43,515 --> 00:22:45,045 an obvious bearish order block. 394 00:22:45,435 --> 00:22:45,885 Okay. 395 00:22:45,975 --> 00:22:49,875 Um, and there's very little times that's like that, but we will 396 00:22:49,875 --> 00:22:53,235 talk about that when we get into entry techniques and concepts. 397 00:22:53,950 --> 00:22:59,170 But if there is a lack of bearish order, block, a understanding and what 398 00:22:59,170 --> 00:23:01,360 you're looking at currently in market action, because there may be a lot of 399 00:23:01,360 --> 00:23:02,920 wicks, something like that may occur. 400 00:23:03,550 --> 00:23:06,250 Um, then you would look for a rejection block, which will be 401 00:23:06,250 --> 00:23:08,410 just above the body of the candles. 402 00:23:08,830 --> 00:23:11,830 Do we expect that to be ran out and then you'd be really high on the 403 00:23:11,830 --> 00:23:15,790 premium there and then ultimately a whole, whole entire run on the. 404 00:23:16,830 --> 00:23:21,060 That would be, uh, an expectation now I have here old high and all. 405 00:23:21,060 --> 00:23:23,129 Well, what, w w why would the low be there? 406 00:23:23,219 --> 00:23:27,959 Well, if you're on a very low end of a downtrend on a hard timeframe, 407 00:23:27,959 --> 00:23:32,850 monthly chart, you may be rallying up to a old low, and if it gets 408 00:23:32,850 --> 00:23:34,230 to that old low, even though. 409 00:23:35,054 --> 00:23:37,875 It's an old load in, in terms of price. 410 00:23:38,235 --> 00:23:40,034 It's really high up in the premium. 411 00:23:40,034 --> 00:23:42,044 If it's been rallying a considerable amount of time 412 00:23:42,075 --> 00:23:43,514 and price to get to that level. 413 00:23:43,935 --> 00:23:49,155 So retreating to an old, low that's resistance, classic understanding, but. 414 00:23:50,159 --> 00:23:51,959 It may need to run on an old high as well. 415 00:23:52,290 --> 00:23:55,229 So basically all you're doing is, is you're you're, you're scaling the 416 00:23:55,229 --> 00:23:57,870 grade of how much important you're going to have on each one of these. 417 00:23:59,310 --> 00:24:01,679 So again, in summary, I want you to understand what I'm talking about here. 418 00:24:02,310 --> 00:24:05,939 We're not just listing the things we've talked about in previous teachings. 419 00:24:06,000 --> 00:24:06,330 Okay. 420 00:24:06,360 --> 00:24:10,709 I'm putting them in an order of significance when you're at equilibrium 421 00:24:11,370 --> 00:24:14,250 or if you're moving up from discount. 422 00:24:14,850 --> 00:24:15,209 Okay. 423 00:24:16,950 --> 00:24:20,220 Expectations are to look for very first thing you look for 424 00:24:20,220 --> 00:24:22,139 in list as prices going up. 425 00:24:22,590 --> 00:24:25,860 The first thing you're looking to see to encounter, is there any mitigation 426 00:24:25,860 --> 00:24:26,850 block that I've got to consider? 427 00:24:27,540 --> 00:24:28,620 Because that's the first objective. 428 00:24:29,790 --> 00:24:32,420 It could be a selling point, then it's a bear. 429 00:24:33,360 --> 00:24:37,110 That could set the tone for another leg lower or stop any 430 00:24:37,140 --> 00:24:38,760 rallies on a bullish idea. 431 00:24:39,870 --> 00:24:43,290 Then the next idea, if you're bullish from a discount, or if you're expecting 432 00:24:43,290 --> 00:24:46,140 a new selling opportunity, say you're at the equilibrium price point, anything 433 00:24:46,140 --> 00:24:51,120 below the premium, the expectations. 434 00:24:51,120 --> 00:24:54,000 And when you're looking at the F in price for areas where price may go 435 00:24:54,000 --> 00:24:58,890 up to it's in this order from the lowest up nobody's from mitigation 436 00:24:58,890 --> 00:25:01,140 block, all the up to old high in. 437 00:25:02,540 --> 00:25:04,310 That's the order you would expect to see them. 438 00:25:04,580 --> 00:25:11,000 Now, the order of importance, I know it's the highest of the premium array is 439 00:25:11,000 --> 00:25:14,450 the old high in old, low that's that's. 440 00:25:14,450 --> 00:25:17,420 As high as you can get, then you have rejection blocks. 441 00:25:18,750 --> 00:25:21,540 Then you have bear shorter block, fair, fair value gap. 442 00:25:21,699 --> 00:25:24,209 And then liquidity, void, bear, Spreaker and mitigation block. 443 00:25:24,270 --> 00:25:25,500 You're going to be looking up. 444 00:25:25,800 --> 00:25:28,080 And the first thing you're going to encounter is the first thing 445 00:25:28,080 --> 00:25:29,070 on the bottom of this list. 446 00:25:29,070 --> 00:25:30,870 And then you start working your way up that list. 447 00:25:31,169 --> 00:25:35,459 The farther you go up in this list, the more deeper you go into a premium 448 00:25:35,459 --> 00:25:41,699 market, certain arrays in here will keep you from seeing the next higher array. 449 00:25:41,760 --> 00:25:42,870 In other words, the next. 450 00:25:45,344 --> 00:25:47,985 Institutional order reference point that's listed in here. 451 00:25:48,435 --> 00:25:50,235 If you get to a breaker, chances are, you're probably not 452 00:25:50,235 --> 00:25:51,314 going to go higher than that. 453 00:25:51,405 --> 00:25:53,715 You won't generally get up into close to that void. 454 00:25:53,774 --> 00:25:57,375 If there's a breaker below a liquidity void that liquidity void may stay open, 455 00:25:57,375 --> 00:25:58,844 basically that range may stay open. 456 00:25:59,145 --> 00:26:03,044 So they kind of like it's in the order of importance as a trader, 457 00:26:03,044 --> 00:26:07,485 when you're below premium and looking higher up for prices or expecting 458 00:26:07,485 --> 00:26:11,294 prices to move higher, that mitigation block, you know, that's the lowest. 459 00:26:13,340 --> 00:26:15,230 Likely one you're gonna expect to run into first. 460 00:26:15,560 --> 00:26:18,980 It doesn't mean that there's one in price action, but you start from that 461 00:26:18,980 --> 00:26:20,750 expectation first and you look for it. 462 00:26:21,080 --> 00:26:21,590 It's not there. 463 00:26:21,590 --> 00:26:21,800 Okay. 464 00:26:21,800 --> 00:26:22,940 What's the next thing you've been looking for? 465 00:26:23,180 --> 00:26:23,900 The bear Spreaker. 466 00:26:23,960 --> 00:26:24,650 If it's not there. 467 00:26:24,710 --> 00:26:25,100 Okay. 468 00:26:25,460 --> 00:26:28,280 Then I'm okay to expect that void the close in debt, but 469 00:26:28,280 --> 00:26:29,240 there may not be a void. 470 00:26:29,390 --> 00:26:33,380 It may have been a really systematic and efficient way that it traded lower 471 00:26:34,040 --> 00:26:35,570 and that won't be any void there. 472 00:26:35,660 --> 00:26:39,690 So next thing is there, is there a gap that would draw price up into it? 473 00:26:39,720 --> 00:26:41,450 If there's no gap, then you go right to the. 474 00:26:42,675 --> 00:26:42,915 Okay. 475 00:26:42,915 --> 00:26:46,604 But the main thing is if there's a breaker, forget about closing in 476 00:26:46,604 --> 00:26:49,125 the void and forget about getting up to that gap because the breaker's 477 00:26:49,125 --> 00:26:52,274 going to take precedence over everything on this list when you're 478 00:26:52,274 --> 00:26:53,955 below it, in terms of market price. 479 00:26:54,044 --> 00:26:59,294 If we were anticipating move lower into price into a discount or into 480 00:26:59,294 --> 00:27:04,965 a support level, we would expect the very next PD array to be a. 481 00:27:05,805 --> 00:27:09,435 Mitigation block now, again, that may not appear in price. 482 00:27:09,585 --> 00:27:12,524 If there is no mitigation block, you would expect to see the 483 00:27:12,524 --> 00:27:14,955 next PD array in the form of. 484 00:27:15,795 --> 00:27:16,965 A bullish breaker. 485 00:27:17,805 --> 00:27:20,865 And again, this may not occur or should be seen in price action, but 486 00:27:20,865 --> 00:27:24,135 this is the order in which you would expect to see as prices going lower. 487 00:27:24,465 --> 00:27:27,105 Looking in the past to the left side of your chart, you'll be 488 00:27:27,105 --> 00:27:30,435 focusing on whether or not these arrays appear in price action. 489 00:27:31,035 --> 00:27:37,335 Their importance is again, is listed from equilibrium, the expected 490 00:27:37,335 --> 00:27:41,745 order of how they're going to be in the price action in form of a. 491 00:27:42,780 --> 00:27:46,230 The first one you would anticipate seeing as a mitigation block bullishly then a 492 00:27:46,230 --> 00:27:49,650 bullish breaker, then illiquidity void. 493 00:27:49,680 --> 00:27:55,650 Now, if there is a bullish breaker, now again, a bullish breaker is a up 494 00:27:55,650 --> 00:28:02,970 candle between two swing lows and the most recent swing low would be lower. 495 00:28:03,000 --> 00:28:03,390 No much. 496 00:28:03,390 --> 00:28:07,980 You're seeing a stop run in the past and the high that swing hide 497 00:28:07,980 --> 00:28:09,630 it, it forms between the two loads. 498 00:28:10,530 --> 00:28:12,659 That up candle is going to be your bullish breaker. 499 00:28:12,659 --> 00:28:16,350 So when price comes down, then at the Bush of candle, it'll find some support. 500 00:28:17,010 --> 00:28:20,970 If you see that in price action, chances are, if there's a liquidity void in 501 00:28:20,970 --> 00:28:22,889 price, it won't go down to fill that in. 502 00:28:23,280 --> 00:28:27,960 It can, if it overtakes the barrier, but if it has a breaker anticipate 503 00:28:27,960 --> 00:28:31,590 price, not going below the breaker and leaving the void intact 504 00:28:35,610 --> 00:28:36,850 again, assuming there is no break. 505 00:28:38,190 --> 00:28:41,220 And there is no boy, but there is a gap and they may be at liquidity 506 00:28:41,220 --> 00:28:44,399 void, any gaps sometimes that can occur too, but you would anticipate 507 00:28:44,399 --> 00:28:47,909 price reaching down into a fair value gap, which is this a common little 508 00:28:47,909 --> 00:28:50,220 gap where pricing only been delivered all months out of the marketplace. 509 00:28:52,170 --> 00:28:54,899 And then the next array would be the bullshitter. 510 00:28:57,004 --> 00:29:00,754 And again, without the breaker, you would expect the void to be filled 511 00:29:00,815 --> 00:29:03,335 a gap, to be filled, trade down into the bullshitter order block. 512 00:29:03,395 --> 00:29:07,504 Then below the order block would be a rejection block, which is just below 513 00:29:07,595 --> 00:29:10,715 the most lowest candle and its body. 514 00:29:10,715 --> 00:29:14,014 In other words, if it has wicks long wicks below it, we're only 515 00:29:14,014 --> 00:29:16,355 gonna be looking for a mood just below the bodies of the candle. 516 00:29:16,355 --> 00:29:18,335 And that would be rejection block. 517 00:29:19,875 --> 00:29:22,755 And then ultimately the deepest form of discount would be in the 518 00:29:22,755 --> 00:29:26,205 form of an old, low or trading down to it in a historic high. 519 00:29:26,595 --> 00:29:30,495 And like we said, when we were talking about the premium market, when prices 520 00:29:30,495 --> 00:29:35,145 trade up to an OHI, it can also trade up to a very old longterm low. 521 00:29:35,565 --> 00:29:38,055 And that would both be in the form of a resistance level. 522 00:29:39,795 --> 00:29:43,125 So when we look at markets like this, what it does is it gives us a frame. 523 00:29:49,199 --> 00:29:53,669 You can see here, the monthly premium arrays. 524 00:29:53,760 --> 00:29:57,540 These are going to be focused for primarily bearish premium array 525 00:29:57,540 --> 00:30:00,600 trading, and always you're going to be using these areas at which the frame 526 00:30:00,600 --> 00:30:06,570 of trade or look for bullish targets at these levels for monthly discount. 527 00:30:09,080 --> 00:30:10,100 You're bullish, discounted rate. 528 00:30:12,925 --> 00:30:16,405 These are your bullish discount arrays, and you would be looking for these 529 00:30:17,035 --> 00:30:22,165 four bearish targets or looking to get long at any one of these based on 530 00:30:22,165 --> 00:30:23,395 the current conditions in the market. 531 00:30:23,845 --> 00:30:27,145 Now, the same thing as seeing Elsa for the weekly chart, the weekly 532 00:30:27,145 --> 00:30:31,135 chart, you're gonna be looking at the same thing from equilibrium up. 533 00:30:32,305 --> 00:30:34,675 The first thing you would expect to see when you're expecting higher prices. 534 00:30:34,795 --> 00:30:35,935 Are we going to run into a mitigation? 535 00:30:36,960 --> 00:30:37,770 They are Spreaker. 536 00:30:38,100 --> 00:30:40,500 If there's a bear Spreaker, you probably not going to go higher than that. 537 00:30:41,220 --> 00:30:44,130 But if there is no breaker, you look for a void to close in. 538 00:30:44,730 --> 00:30:49,800 Or if you're a value gap, if there is no fair, fair value gap or avoid 539 00:30:50,670 --> 00:30:53,220 price could just simply trade right up into the bear shorter block. 540 00:30:54,000 --> 00:30:58,680 And if there is an idea that suggests that there's possibly not a strong 541 00:30:58,680 --> 00:31:01,800 bearish order block there, we would look for rejection block, which is 542 00:31:01,800 --> 00:31:03,630 a move above the candles bodies. 543 00:31:03,630 --> 00:31:05,430 If there's long wicks that top, that market. 544 00:31:06,254 --> 00:31:09,675 And then ultimately I run above the old high or return to a historical low, 545 00:31:09,885 --> 00:31:13,274 the same things we just outlined for the monthly is seen for the weekly, 546 00:31:13,544 --> 00:31:17,385 both premium and discount, the same Iraqi and how you would expect to see 547 00:31:17,385 --> 00:31:19,065 these arrays occur in price action. 548 00:31:19,665 --> 00:31:20,925 This is the way they are seen. 549 00:31:21,465 --> 00:31:25,215 And obviously the same thing is said for a daily chart, nothing's 550 00:31:25,215 --> 00:31:27,165 changed the same error exists. 551 00:31:28,485 --> 00:31:29,565 If we're at equilibrium. 552 00:31:30,554 --> 00:31:34,334 And that's the current market action price and we're expecting lower prices. 553 00:31:34,754 --> 00:31:37,304 The first thing we want to look for in the left side of our chart, is there any 554 00:31:37,304 --> 00:31:39,945 mitigation blocks or a bullish breaker? 555 00:31:40,695 --> 00:31:44,145 If there is anything less than that breaker probably won't be 556 00:31:44,145 --> 00:31:48,465 considered or retreated to the breaker has precedence over everything, 557 00:31:48,495 --> 00:31:49,965 both bullish breaker and bear. 558 00:31:51,930 --> 00:31:56,070 So Ronald, take a look at an example of all this information with our dollar 559 00:31:56,100 --> 00:32:00,180 yen example that we mentioned briefly in lesson number five, money management 560 00:32:00,180 --> 00:32:06,750 was hard time from analysis using these ideas in 6.2, that lesson will 561 00:32:06,750 --> 00:32:08,610 actually give it real practical example. 50163

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