All language subtitles for Lesson 7 - High Probability Daytrade Setups EN

Welcome back folks.

This is lesson seven of the
STT day trading model, high

probability day trade setups.

Okay.

What makes day trades high probability?

The highest importance is placed
on the higher timeframe daily and

or for our direction when daily
and or for our direction as bullish

use previous days, low to high for
retracement entries use previous

days, New York session, low to high.

Per retracement entries.

These previous days, low for cell stop
rate to accumulate longs, focusing

on the anticipated move from higher
timeframe discount to premium PD rise

when daily and or for
our direction is bearish.

You use previous days high to low
for retracement entries you use

previous days, New York session high.

For retracement entries use previous
days high for Bystolic rate accumulate

shorts, focusing on the anticipated,
move from the higher timeframe

premium to discount PDA race.

When we're looking for a high
probability day trades, what we're

really focusing on is where's the
next, most likely direction, higher

or lower and off of what level and
trading up to what level for profit.

There's several swings that
you need to be aware of.

Obviously the previous day's high
and low, the previous days, New

York session range from high to low.

That means the sessions highest
high in the lowest load during

the New York trading hours.

There's also one that's not listed here,
but I want you to think about what's

the highest high and the lowest low.

During the London session, that
means the London high and the

London low for the London kills him.

Then also looking at the London high
or low to low or high contrary to it.

In other words, the total range from
the London session extreme, whether

it be a higher, low to the lower
high prior to the New York session.

So between New York opening,
what's the extreme on the

range for that day in London?

Is it high or low relative to the
beginning of New York session?

That range also is important

when we look through price and we
find opportunities to be a day trader

you're looking for the similar things.

We've went over on a hard timeframe
charts, just on a lower time.

Nothing that you see in the lower
timeframe is going to be any different

from what we've outlined, from what we've
seen in a daily or weekly or a monthly,

every example that's being outlined here
for framing, a high probability set up.

This is not the panacea list.

Okay.

This is, this is not going to
be every possible scenario.

These are the criteria that I look for.

Each trading day when
the conditions are ripe.

So in other words, I've done
my due diligence, if you will,

for the higher timeframe.

And I arrived at what I believe
is the most probable direction

on a hard timeframe chart.

And then what I'll look for is if
I'm bullish, I want to look for

the range from London's extreme,
higher, low to that, which.

The opposite extreme, higher
load would be prior to New York.

So whatever the range is from
London to right before New

York opening, that's important.

I want to measure that range.

If I'm bearish, that range is going
to help me find the next trading

day retracement up during that
protectionary state, that move up,

there's going to be a retracement into
that London session range from London,

going into the beginning of the.

I'll also measure the New York
session range high and low that also

many times will give me the set up
that's framed for the next days.

Higher, low.

It'll be a retracement inside that range.

I'll look for the previous day's
high and low to look for stop rates.

Generally, you're going to see
those scenarios occur when there's.

An end to a most recent move.

In other words, if we've seen several
days, go up, it's going to go up into

a premium array and it's probably
going to trade above an old high

I'll look for a buy stop run there,
and then go short the next day.

Vice versa.

If the market's been trading lower
and it trades down to a discount

PDA Ray I'll look for the market
to trade down below a previous

day's low I'll buy the sell stock.

You use it as a day trade

daily and four hour when we
use those independently or in

concert with one another to build
our bears for bullshit ideas.

What we're looking for is price
analysis of seeing is price supporting

bullishness, or is it bouncing
off of bullet shoulder blocks?

Is it rejecting old lows and
showing a willingness to go higher?

Is it filling in gaps below us?

And then.

Those ideas are the first
things that we look for.

And then are we seeing short-term
premium arrays violating?

If that's occurring, then it's
bullish and traditional workflows.

And the opposite is said in reverse.

When you're bearish,

when do I look to buy per day trades?

Ideally in seasonal periods of the
year, but it's not required, but think.

It has to make the list in here.

Cause this is the I probably series
when the current quarter or new

quarter is expected to be bullish.

After the daily chart has reacted
positively on a discount PDA, right?

It could be a bullshitter block.

Any of the discount arrays
it's known to you by the PDA

matrix, when price has a clear.

Unobscured path to an
opposing premium array.

In other words, it's very easily
seen what it would reach for above

you presently, if you can't see
it very easily, it's probably not

going to be high, probably set up

the ideal days of the week.

Buying are Monday, Tuesday, and Wednesday.

You were gonna refer to the central
bank dealers range and determined

if it's less than 40 pips.

And we're going to demand that the Asian
range is in a 20 PIP range or less ahead

of the Frankfurt opening buying between
2:00 AM and 4:00 AM New York time.

We're going to be seeking
the low of the day.

We're going to be buying it one to
two standard deviation as a central

bank dealers range and or Asian
range, coupled with a discount PD.

Timeframe we're gonna execute on
is a 15 and or a five minute chart.

Now, where do I look
to buy for day trades?

I like buying under the Asian range,
plus five pips for the spread.

I like looking for fair value
gaps below a short-term.

From the previous days, New York session.

In other words, after New York
opens up, I'm looking for short-term

lows, that form going into the
close and start a new Daisy or GMT.

I look back in the previous
days range in New York session.

Generally, you're gonna find a low,
and if we can drop down into that in

London, I'll look for those cell stops.

And then I'll go along from that, but
it has to overlap with other things.

Central bank dealers range,
Asian range there's ideas.

Also it has to be in time of day London
open kills him shorter block that

resides below a short term low either
in the previous day or intraday today.

In other words, it could be a
short term intraday load, a formed.

Trades lower than that
into a bullet or a block.

That's a very, very strong of condition.

When the overall picture is
bullish, I would be buying in

that scenario during London.

If I'm very bullish, I'll trade
long at one standard deviation, the

low essential bank dealers range
or Asian range and any discount

PDA re overlap while in the month.

Inside the protraction lower post
12:00 AM to 2:00 AM with Ellipta.

No worries.

It's trading down.

I'm going to be looking to go
long during that Judas swing.

And again, it has to be an
overlap with a discount PD array.

Silly on liquidity void that
completes under a short term low.

All right.

So what we saw on the second setup,
if everybody got, it could be a

larger gap, which would be basically
liquidity void that would be completed

or filled in below a short-term loan.

So what we're doing, so we're
really trying to buy below.

Lowe's looking to accumulate, sell,
stop liquidity that we can buy.

If after rally post 12:00 AM New York
time by the first retracement into a 15

and or five minute bullish order block.

Similar to what I'm saying here is if
we have rallied right after midnight, we

didn't see any dropdown or protectionist
state that would put us into a discount.

If it's been Ryan street.

If we get into the two o'clock to four
o'clock time period day London kill zone.

Sweet spot.

If you will, I'll buy the first rotation
down until a Bush or a buck on a

five or 15 minute basis, one or two
standard deviations in the Asian range.

Coupled with discount PDA rate.

In other words, I'm looking for
period for one standard deviation

drops of the Asian range.

Total range.

Damn.

And it's, that'd be overlapping
with a discount PDA Ray.

So I'm blending those two,

if a short-term loan is taken out twice,
but there has been no upside projection

or any state in which we haven't seen the
market go up first and then go down twice.

The second time in that condition, it's
probably going to keep on going lower,

but if it has not seen any protectionary
move on the upside or, or Judith.

We go down for a low and then
one more time, blow out that low.

I'll buy that as a turtle suit.

Now what other outlined
here are my favorite setups.

These are the conditions and you
have to find them in examples.

I could show you examples, but
nonetheless, that's not going to help.

These are the frameworks I look for.

In other words, if I see these types
of scenarios unfold, generally,

these are the ones that typically
get into my thought process.

I'm looking for certain things, the
lineup Sutton, some type of play, or

for instance, if we were a sports team.

Okay.

And the coach has a.

And he likes certain plays that
he makes his players go through.

Well, these are the scenarios I love
when it comes to trading the London open.

These are my like toolbox or consistency.

These types of trades
form several times a week.

If you'd look for a few of them
and understand what they're,

what they are, when the market's
bullish, we've shown willingness

of respect to daily discount PDRs.

One of these criteria are going to
meet every London session out there.

We'll have something in this
list that forums, now I already

know what you're going to think.

Wow, Michael, this is a lot.

Which one do I pick?

Well, if he studied them, they all
don't have the same characteristics.

It depends on what the
market's providing you.

So when you're watching 12:00 AM New York
time, we're watching a see which scenario.

Wherever we're looking for that initial
drop down, ideally, but if it doesn't

happen, we have one condition here
where it says, if it Riley's straight

from 12:00 AM, when we get to 2:00 AM,
we're going to buy the first retracement

into a 15 or five minute order block.

Boom.

It's over.

So you got every scenario that we'll
be looking for for a London open loan,

placing stop-losses in a buy for.

What ever you do and whatever you
use for your initial stop loss,

do not rush moving it already.

Know what you're trying to do.

You want to get to break even plus by
plus 20, forget that in day trading in

London, because you can get a double pass.

They can come back and knock you
out and you'll miss the entire move.

Leave your stop at initial
until you get to at least.

40 to 50% of the daily range.

If you can get that in London,
Dan, bring it to breakeven.

But anything prior to that, , don't do it.

If you're trading the central bank
dealers range overlap with a PD array,

the stop has to be 30 pips under your.

If you're trading a run
under the Asian range.

In other words, what we're doing
is we're watching price trade

down below the Asian range.

It might be one standard deviation
might go half a state, uh, one

full standard deviation, anything
below an average in range low.

Your stock needs to be
40 pips below your entry.

If you're trading any sell,
stop rate 30 pips under the low.

Oh, the entry you're using.

All right, you're going to use the low
as your primary entry point, that low.

You're going to try to enter
below that your stock has to

be 30 pips below that low.

If you're trading the first
retracement into a bullish shorter

block, you have to be 10 pips
under the lowest, low of the day.

If you're trading the second
return for cell stocks.

In other words, we've had a move
lower and then it moves lower.

One more time.

It takes up the cell stops.

Your stock has to be below that 30 pips.

Again, that one is, if you don't see
any move right away after midnight,

if it's only been a straight down
move and then it goes down one more

time blows at the load that's formed.

Initially your stop has
to be 30 pits below that.

If you're buying that as a turtle suit.

If you're trading any other setup
not described above what you're

gonna be using is 50% of the average
daily range of the last five days.

Subtracted from the Asian range,
low assume you have 800 PIP average

daily range for the last five days.

What you're going to do is take 50 pips
minus the Asian range, low, whatever that

price is, that's what your stop loss.

Taking profits in by day trades.

Hey, you're always going to try to take
something off in gain at 20 to 30 pips.

Always do this in London.

You gonna look to scale something off
every two standard deviations of the

Asian range or central bank dealer.

Yes.

I said, it requires you to see
two standard deviations before

you take the next level of profit.

That means after your first 20 to
30 pips, you're going to wait for

two standard deviations of the Asian
range or central bank dealers range.

Then you take something off.

Again, take something off at the
previous day's high plus five to 15 pips

because you could end up in a turtle
soup scenario and it could retreat.

Take something off at 50% of
the price range you're trading

in on a 60 minute basis.

In other words, inside the
range, where are we at?

If we rally up inside that range, remember
equilibrium could be an impactful level.

So you want to take
something off there as well.

Cause it could reverse on you

take or have had taken 60 to 80% off.

At five day average daily range
projections always do this.

So the it's basically, if you've not
taken off anything, except for the

first 23 pips, you didn't do anything
for Tuesday and deviations the Asian

Rangers central bank dealer trains,
because maybe it didn't do that.

Maybe it hasn't fulfilled that.

Uh, maybe you haven't done
anything with a previous days

high hasn't traded there yet.

And maybe you haven't seen a 50% range
in the last 60 minutes, uh, price.

Then you have to consider
average daily range.

The last five days you need to be taking
at least 60 to 80% off at that point.

Always do this.

And then you can leave a little
portion on to see if you're going to

get more juice out of that lemon and
hold for a later portion of the day.

If trading higher than the previous
trading week, take something

off there because you could get
a turtle sleep center on that.

You're trading higher
than a previous month.

It's high, take something
off there in time of day.

Scale-out something that, or just
above the five o'clock hour, New

York time, any time of day, you
want to scale out a short term.

Prior to the 7:00 AM, New York
open knowing, outline this again,

these are time date specific.

You want to take some profit
when this bullish and you've been

rallying, whatever that short-term
height is forming prior to 7:00 AM.

That means there's going to be a
short-term little rally going into

seven o'clock wherever that high is,
as it's rallying, you want to take

something off there because New York
could be a reversal in time of day.

Look the scale out between 10:00 AM and
11:00 AM, New York time during the rally.

So in other words, whatever price is
moving up at 10:00 AM that leg and

price higher, you want to be exiting and
taking something out as it's rallying up.

Ideally any of the above scenarios,
coupled with a PD rate in a premium basis.

Now, obviously you're probably saying,
well, Michael, I only did too many,

so I can only afford to do that.

How can I take this many portions off
you can't but if you look at it again,

study it, not all these conditions can be
present, but you want to look for the ones

that may potentially be there for you.

You can go through this list and
look at your trade as you get ready

to take it and see right away.

If any of these are going
to be potential candidate.

But you have to take
profits on these rules.

That's how I do it.

This is the reason why I do it.

And when you see me taking positions
and scaling them off, these,

this is the criteria I'm using.

When I look to short day trades, ideally
and seasonal bears periods of the year,

but it's not required when the current
quarter or new quarter is expected.

After the daily chart has reacted
positively on a premium PD array.

When price has a clear unobstructed
path to an opposing discount array.

The ideal days of the week shorting are
Monday, Tuesday, and Wednesday refer it

to the central bank dealers range and
determine if it's less than 40 pips.

Demand the Asian range to be
in a 20 foot range or less

ahead of the Frankfort opening.

That's basically one
o'clock in the morning.

New York time.

It's early London shorting between
2:00 AM and 4:00 AM New York

time seeking the high of the day.

Generally, I'm looking to sell one
to two standard deviations of the

central bank dealers range and or
Asian range coupled with a premium PDF.

Timeframe to execute on is either
five or 15 minute timeframe.

Where do I look to short day trades?

I like to run above the Asian
range, at least five pips above it.

I want to be selling short there.

A fair value gap above a short-term high
from the previous days, New York session,

there's going to be by stops above that.

I'll look to sell that as it rallies
above that in New York session,

bear shorter block above a short-term
high either previous day or today.

In other words, if there's a boorish
or block that resides in prices.

And there's a short-term high just
below that we haven't rated yet.

As soon as we trade above that
short term high and ended up there a

shorter block, if it does that during
London session, I'll go short there.

If I'm very bearish, one standard
deviation with any premium PD array

in a London open kill zone, I can
trade on that inside the protraction.

Hi.

Post 12:00 AM midnight, New York,
time to 2:00 AM, New York time with

a PD at rate or premium PD rate
specifically that's enough for me.

So I'm basically, I'm looking at a
Judas swing that occurs right from

midnight, going up into 2:00 AM.

It can happen prior to 2:00 AM,
but generally you want to see that

move right after 12:00 AM up it
trades into a premium PD array.

That's enough to get short.

Filling a liquidity void that
completes above a short-term high.

If after the drop post 12:00 AM, I'm
going to sell the first retracement into

a 15 or five minute bearish order block

one to two standard
deviations in the Asian range.

Coupled with a premium PDA Ray, I can say.

And if short-term high is taken
out twice with no initial downside,

I'll sell that as a turtle soup

placing stop-losses in short day trades.

Whenever you use the initial stop loss,
obviously don't be in a rush to move

that we've said that in the buy-side
is the same thing here for shorting.

If you're trading the central
bank dealers range overlap with.

Stop must be 30 pips above your entry.

If you're trading a run above the Asian
range high, the stop has to be 40 pips.

If you're trading any buy stock
rate, your staff has to be 30

pips above the high or your entry.

If you're trading the first retracement
into a bare shoulder block, your stop has

to be 10 pips above the highest title.

If you're trading the second return for by
stops or basically a turtle soup, and we

have not seen any immediate rally lower in
price after midnight, your stuff has to be

30 pips above the highest high of the day.

If you're a trading, any other setup
not described above use 50% of the

average daily range of the last
five days added to the Asian range.

Taking profits and short day trades always
try to take something off in gain at 20

to 30 pips, always look to scale something
off every two standard deviations in the

Asian range or central bank dealers range.

Take something off at the previous
day's low minus five to 15.

Take something off at the 50% range or
equilibrium of the price range you are

trading inside of on a 60 minute chart
take or have taken 60 to 80% off at the

average daily range of the last five days.

Do this always.

If trading lower than the previous trading
weeks low, take something off there.

You could have a reversal or rejection
if trading lower than the previous month.

Again, this could be a potential reversal.

So you want to take something off there
in time of day, scale out something at,

or prior to 5:00 AM, New York times.

In time of day, scale out a short-term
low prior to 70 in New York open.

In other words, New York open could
be reversal or generally a retracement

into the eight 20 CME opening.

So you want to be seeing profit,
taking some measure portion, come

off as profit as it's accelerating
lower ahead of 7:00 AM in time of day

scale out at 10:00 AM to 11:00 AM.

New York time, while price is still the.

Ideally any of the above scenarios,
coupled with a premium PD array.

Now, obviously I've given you several
instances and circumstances and, and

outlines for the probable plan of action.

Whether you're entering, whether
you're taking profit, where you're

using your stop at, these are
my general rules of operation.

This is what I generally look for.

These are the things I do, how I manage
the position, what I'm doing initially

with the, with the stops, where I'm
looking to take profits at the ones that

I did not incorporate here were obviously,
uh, been taught in other places.

So I didn't have to
rehash or put in filler.

Any projection on the fib 1 27, 1 68,
and the 100% symmetrical price swing

or a hundred percent move measured.

Move those ideas a couple with
any of these as well, really

amplifies for profit taking

this lesson.

Obviously I don't want to see it
on YouTube and if it ends up on

YouTube, I'll have it pulled down.

But the.

The lesson itself.

I could pretty much show this
on baby pips and nobody will

understand what it's talking about.

So that's the reason why I went through a
great deal of information in January and

all the way up to now, because you know,
all the elements that's being described

here, or you should know them because
you've studied all the previous months,

the criteria and the rules of engagement
that's being explained and outlined

for both sides of buying and selling.

Not every single one of
these are going to be usable.

You can't use every single one of them.

They're not going to be applicable
to every trade that you're in.

So don't think because there's a
laundry list of things and scenarios

here, not all of them are going
to be able to be applied to your.

But knowing what they are in advance
and outlined form here, you can

already see how you can look to see if
it's going to be a probable scenario

for your particular trade idea.

You may not be trading
anywhere near a weekly, low.

You may not be trading anywhere in
your monthly, low, so they may not

even be any consideration at all.

You probably already took something
off at 20 to 30 pips and it hasn't

much moved beyond that going
into 5:00 AM, New York time.

So you wouldn't consider that either
the scaling out ahead of the 7:00 AM.

Maybe you have taken 20 or 30 pips
already in London, and then it went,

you know, the whole full average
daily range all during London.

You're not going to take
something ahead of 7:00 AM.

Because you've already taken something
based on average daily rains being

fulfilled, looking at the scenarios
that would potentially pan out

here and also for the entries.

Uh, again, not all of them will
be applicable, so don't freak out

because it seems like a whole lot.

And yes, you're being challenged.

I promised you in the latter lessons,
you're going to have to think.

You have to think for yourself, you
have to have rules and have a good look

for these types of things yourself.

They all won't be there.

So you're not having to look through
all these things to, to whittle down to

what you should be doing for your trade.

All of the criteria that's
been listed here for.

The setups, the buys, the cells
where your stop loss, is there

specific roles for all of that?

I have specific outlined scenarios
in this teaching that if you stick to

them, you'll do everything that I do on
a week by week basis when I'm trading.

So yes, it requires you to
think, yes, it's a little bit

of work, but is it worth it?

Absolutely.

And until next time I wish you
good luck and good trading.