0:28 e
0:58 e e
1:52 my I lovely lady LS yeah what's up good
1:57 morning good morning it's a good morning
2:00 it is a good morning this OBS was uh
2:03 sparring with me again before I can get
2:05 the stream started but that's okay it's
2:07 a little bit
2:09 faster uh resolution for it this morning
2:12 hope you're doing well this obviously we
2:16 are in
2:19 the
2:21 Thursday trading session for uh indices
2:25 our Focus has been on the NASDAQ as you
2:27 can see on the right hand side that is a
2:29 1 minute chart reacting off of some
2:32 random
2:34 level for uh the new week I'm sorry new
2:38 day opening
2:45 Gap and upper left hand
2:48 corner we have the 15-minute time frame
2:52 and then the 5 minute time frame in the
2:55 lower
2:58 left so we will will
3:01 be watching how we
3:03 open there's going to be a a rather
3:06 large
3:08 gap so we'll be annotating that real
3:11 quick here so this is where we stop
3:13 trading for regular trading session
3:15 hours again then lower right hand
3:18 corner that's where we're
3:21 toggling and then we're going to
3:24 [Music]
3:42 and we will
3:46 use
3:48 this and then where we open up at
3:51 9:30 we will annotate
3:54 that so right now it's trading at 348
3:59 so if I
4:01 grab that highlight it hold down control
4:04 drag away and put it real close to that
4:07 market price that we're at right now
4:09 when I go back to electronic trading
4:10 hours it'll be there for me to
4:17 drop like that and then I'll
4:20 [Music]
4:23 just change that now to
4:26 this and this will
4:28 be set to whatever the first opening
4:31 price is at 9:30 in about 55 seconds or
4:36 less so we have a ra rather
4:39 large premium opening so is a lot
4:43 of a lot of movement from where we
4:45 settled on the day session yesterday
4:48 versus where we're opening up it doesn't
4:51 mean always there's a complete return
4:53 back to that that level down here but we
4:56 will look for indications that it will
4:57 try to do that and right away my
4:59 interest is I I'd like to see this
5:01 traded too it need not do anything in
5:04 here we're not trying to pick the top as
5:07 I was talking about yesterday um we want
5:10 to see how the opening range opening
5:13 range is the first 30 minutes from 9:30
5:15 to 10: a.m. New York local time if your
5:18 time on your trading view platform is
5:20 not set to New York you need to set it
5:22 to that that way everything that you're
5:24 learning in this YouTube channel is
5:27 Germain here we are so the opening price
5:30 is
5:32 352 so all you have to do
5:35 is change it to
5:39 352 all better baby right there so now
5:43 what we're doing we're just going to
5:44 watch and see does it have a run above
5:50 the high
5:54 here that's where our
6:00 [Music]
6:01 buy side liquidity
6:02 [Music]
6:04 is and top
6:14 left okay so we're just going to sit and
6:16 relax
6:18 um I I have an appointment at 10:45 that
6:23 I have to make so we'll be going to
6:26 around 10:30 probably a few minutes
6:29 before
6:30 10:30 so I'll sit with you through the
6:32 uh the first 30 minutes after uh 10 so
6:36 hopefully we'll see some kind of a
6:38 silver bullet I can walk with walk you
6:42 through excuse me
7:00 okay we have a small little Gap that we
7:01 just traded into here we'll see if that
7:03 provides a means of engaging the
7:05 liquidity there
7:32 there you
7:34 go so that's one of those uh really easy
7:38 bread and butter set ups where we can
7:40 see that there's a pool of
7:43 liquidity they're going they're going to
7:45 Fe that's
7:50 Bailey hang on one second let me text my
7:53 wife and tell her to kennel
8:00 all
8:35 all
8:37 right so we had our little initial
8:41 run after big pop at
8:44 8:30 completely random who could expect
8:47 something like that to occur we had this
8:49 volume imbalance between these two
8:50 bodies here we traded back up into that
8:52 trading there and we have relative equal
8:56 lows from here to here
9:00 study
9:03 [Music]
9:04 that so the relative equal highs
9:08 here we saw it run above
9:10 that that small little Gap right there
9:14 small little one right there I'll
9:16 highlight it for
9:18 you actually going just maximize this
9:21 chart we'll work with this
9:22 [Music]
9:25 one right there
9:30 [Music]
9:37 keep it neutral I don't want to
9:38 influence you with the color but uh I
9:41 don't need that
9:45 [Music]
9:46 line so as we traded down to this
9:49 here I took your attention there after
9:52 obviously it was sitting like right in
9:53 here but that right there is still a
9:56 point of entry because you have
10:00 low high low or low you're in the
10:02 breaker that could have been used as
10:05 a more or less the fair value Gap does
10:08 it respond off of it yes you don't need
10:09 the candle to
10:11 close and then the liquidity was here so
10:14 looking at from this area
10:16 here ring up to take that
10:20 liquidity that's your
10:27 first screenshot shot you want to take
10:30 and annotate that Caleb and have how
10:34 much time it took to run obviously it
10:36 doesn't take much it's like 1
10:37 minute how much heat was on that fair
10:40 value Gap
10:42 zero and then there's immediate run to
10:45 liquidity so now because we've had this
10:47 run here and we've had the big run
10:50 up um over the last few actually like a
10:54 week and a half now it's been going
10:57 higher we had an 830
11:00 impulsive price run creating the high
11:03 here we
11:07 opened 930 ran to buy side
11:12 here what's
11:16 this what is this right
11:22 here a premium
11:25 Wick we're studying the buy side in here
11:29 we want to see does it want to come back
11:31 CU think about everybody that's long
11:33 they're going to Trail their stop losses
11:35 where are they going to jam them up
11:37 to right below
11:40 here so anyone that wanted to break out
11:43 and go long they're going to do it want
11:44 to break out above here so they're in
11:46 now they're you they already have people
11:49 on the board net long and where are they
11:52 going to put their stop loss right below
11:55 here all under
11:58 here and the carryover from
12:01 yesterday and this morning at 8:30 when
12:04 we had the run up
12:06 here off of today's new day opening
12:10 Gap rallied institutional orall entry
12:13 drill Breakaway
12:17 Gap this is where a bull flag does work
12:19 and then runs up this Gap right here and
12:22 the liquidity my focus is here I'm not
12:25 trying to pick the top but what I'm
12:27 looking for is I want to see can
12:30 we break below this Gap that's in yellow
12:34 okay that's where my focus is my eye is
12:37 there because I want to see do we get
12:39 below it come back up and treat it as an
12:42 inversion fair value Gap that sends us
12:44 into the liquidity here and into this
12:47 Gap right there so for the morning
12:50 session it's too rich too expensive
12:52 right now to want to buy it we have a
12:55 gap higher
12:56 opening we've had an initial run to by
12:59 side I'm not chasing that so we're back
13:01 in the same criteria that we were on was
13:04 it Tuesday so I will not buy premium
13:08 like this this is this is too rich too
13:10 expensive and again same thing if it
13:13 wants to run it'll run without me and
13:15 I'll wait later on in the morning 10
13:17 o'clock I'll do something with the
13:18 Silver Bullet there it's always there
13:21 it's never it's never not in the charts
13:24 okay so we have one more bump above the
13:27 high
13:32 and let me draw out the
13:34 uh this is where my interest is for the
13:37 morning session thus
13:44 [Music]
13:46 far and I don't know why I did that it
13:49 should be this
13:52 color there you go
14:05 so what we have here is we have low high
14:10 low breaker breaker inside of the new
14:13 day opening Gap that's this level here
14:16 and that level here we consolidate we
14:18 drop
14:19 down 830 boom takes
14:24 off leav a gap here relative equal lows
14:28 here the highs have been
14:31 taken so what we're watching is the
14:33 market being made Jagged on the upside
14:36 after a large gap opening again you can
14:38 see that here see that big gap between
14:41 where we settled yesterday and where we
14:43 are here so that's why my interest is at
14:46 that fair value Gap and the that
14:49 low because it's only been a
14:51 consolidation run to the liquidity come
14:54 back a small little retracement and then
14:55 rally once more so we're really we're
14:58 really expensive very very expensive
15:03 and a lot of Traders with deeper pockets
15:06 are going to wait for a discount and
15:09 they're not interested in trying to buy
15:10 these inflated
15:11 prices the public the street you know
15:15 the street money or quote unquote dumb
15:16 money uh they'll they'll buy it every
15:19 single time it does this because they're
15:20 they're buying momentum or they're
15:23 shorting weakness so they're they're cha
15:26 they're always perpetually chasing price
15:28 and as a professionally minded
15:30 Speculator and analyst you want to be
15:32 looking for cheap discounted prices to
15:35 buy and you want to sell expensive
15:38 premium priced instruments so it's very
15:41 important to have those rules and write
15:44 those things down in your
15:45 Journal no nothing forces you to pay too
15:49 much nothing should make you feel like
15:52 you're going to miss out so you're
15:53 willing to pay a higher price for it if
15:55 you have that rule in your Trading
15:59 it's going to prevent a lot of heart
16:01 heartache and hardships
16:03 because chasing price is never a good
16:06 thing very very few and far between are
16:09 there instances where chasing it and it
16:11 runs you five 600 eight points it's very
16:14 rare that it does that but it's more
16:16 likely that it does these little go up
16:18 break out get people caught long and if
16:21 they didn't get enough on that pass here
16:23 they have it now so we have one two
16:26 three now we have it with the candle
16:28 there see we have three three dries
16:30 pattern higher inside liquidity all of
16:33 this is made Jagged now and I want to
16:36 see can we get into this below it treat
16:39 as inversion fair value Gap as long as
16:41 it doesn't trade below these lows or
16:43 into this Gap here I'd like to see it
16:45 use that as a catalyst to bring us down
16:48 into that and then hypothetically Caleb
16:51 what you would say is I want to see if
16:52 it does these very things this would be
16:54 a screenshot that goes down there after
16:56 King off that that's a screenshot for
16:58 for a short idea but you're not demoing
17:02 it you're not in any kind of actual
17:03 trade you're just watching it and then
17:06 you would say Okay um partial taken here
17:09 and then you would look to see if it
17:10 wants to get down into this one but
17:11 you're taking one step at a time you're
17:14 not trying to go in here and pick the
17:16 top you're not trying to you call the
17:19 top you're looking for signatures to
17:21 support an idea that you're hunting that
17:24 will be part of your repertoire and your
17:26 model you're not forcing your idea
17:28 you're not arm wrestling you're not
17:29 trying to impose your will you're not
17:31 saying it has to happen you're watching
17:33 to see if these things do in fact form
17:36 in price
17:37 action you got to be really really
17:40 relaxed try not to expect everything to
17:44 pan
17:46 out to your wishes every day because
17:49 it's not going to be like that
17:55 always okay small little Gap right here
18:01 right there between that
18:04 candle and this candle's
18:16 High I keep telling myself pouring my
18:18 water into a cup that wasn't it's not
18:20 always making that noise but just think
18:22 of it as ictr
18:29 I got people that leave comments say I
18:31 like when you whisper I wish you would
18:33 talk to your commentary and Whispers
18:35 then I have other people saying dude why
18:36 you Whispering I'm creeped
18:40 out and you think I'm bipolar my
18:43 audience is
18:44 bipolar they're never you know they're
18:46 never uh they're never satisfied
18:50 [Music]
19:07 okay one more pass into the original buy
19:10 side right
19:16 here if you look back at what we've been
19:18 doing since uh Tuesday as I mentioned on
19:21 that day I said even it wants even if it
19:23 wants to keep going higher it's
19:25 okay we're not trying to pick a top
19:27 we're not trying to pick a bottom but
19:29 we're looking for logic to
19:31 frame a a a form of study that will
19:35 helpfully hopefully and help formulate a
19:40 routine that we go into price and we
19:41 look for these types of things to occur
19:44 and if they are not in the chart you're
19:46 sitting still it doesn't mean you you're
19:50 subpar substandard not able to trade
19:53 because you're not looking at every one
19:55 of these fluctuations and knowing it's
19:56 going to do it that's irrelevant right
19:58 now
19:59 the information is too
20:01 premature and we're waiting so I'm
20:03 framing it
20:05 on I want to see it get below here if it
20:07 keeps going higher that's okay I'll wait
20:09 for more information because 10 o'clock
20:11 Silver Bullet that's our main focus for
20:14 the day but we're watching and observing
20:16 the opening range how we're behaving
20:19 initially with the liquidity sell side
20:22 which I should have this annotated I
20:23 apologize
20:25 [Music]
20:50 now when we were looking at this Gap
20:52 here as I was mentioning it I would have
20:55 preferred to see this go and not come
20:58 back down to that again the fact that it
21:01 came down like that to me is problematic
21:03 I don't like to see a run do that and it
21:06 just feels like they keep sending it
21:08 higher sending it higher and all of this
21:12 is work to get people in going long or
21:15 stopping out anyone that's already short
21:19 so this is these types of days or these
21:21 types of conditions in the early part of
21:23 the
21:24 session you see people complain oh
21:27 they're chopping me up I I get keep
21:29 getting stopped out I don't know it's
21:30 just you the chop is you know really
21:33 messing me up you just you have to learn
21:35 to wait it's it's nothing nothing going
21:37 on just because we annotate the gaps and
21:40 the runs where it could reach to that's
21:43 not your trade setup that's not Caleb
21:45 setup it's just worth studying delivery
21:48 how it behaves is it able to hold on to
21:51 these levels once they're being book
21:52 like we I'm studying this this is where
21:56 my my eye is I'm looking at how price is
22:00 held above
22:15 here all of this I'm viewing that as
22:18 potentially just a
22:20 trap keeping the market there holding it
22:23 there and then because it won't Rally or
22:26 if it doesn't rally say it that way
22:28 doesn't if it doesn't go higher and
22:29 parly start running away higher it's
22:32 more likely that this is just being kind
22:36 of like a snare holding traders in the
22:39 the hope that it's going to keep going
22:41 higher because we had this big run at
22:42 830 they feel like they missed the move
22:44 we
22:46 opened at
22:48 9:30 small little decline into a fair
22:51 value Gap and then back up into the the
22:53 buy side so we we're working this area
22:56 above this high but are we seeing
22:58 any immediate runs higher since then not
23:01 yet it can but I don't want to trade
23:05 this early because these are generally
23:07 times where you can get caught off guard
23:10 or offside that means you're on the
23:12 wrong side of the marketplace so I would
23:15 rather air on the side of caution and
23:18 wait for the information I've already
23:20 given you I want to see this Gap trade
23:23 down through it treat it as inversion
23:25 Fairway Gap and reach for this liquidity
23:27 and maybe get as far down here and it
23:29 can still go higher just look at how it
23:31 traded
23:32 yesterday okay so we mean another higher
23:37 high so the same thing here I'm still
23:39 viewing this as all this is could be
23:43 could potentially just be holding
23:44 traders
23:45 in trapping them at a higher price and
23:48 then Rak them lower because they could
23:52 do two things by doing that number one
23:53 it's going to cause pain for anyone that
23:55 bought a breakout I'm not interested in
23:57 buying a Breakout it get if if it
24:00 rallies and keeps going higher it's okay
24:02 it's a move that I'm not a part of go
24:04 back to the lecture I gave on Tuesdays
24:06 um live stream I guess that would be
24:08 what the
24:12 7th just look at whatever Tuesday's date
24:15 is that that that lecture talks about
24:18 what I'm willing to endure what I'm
24:21 looking for what I will not be
24:22 interested in trading on and when I let
24:24 price go without
24:26 me so because we've had this big run up
24:29 since
24:31 8:30 let's put some that back in the
24:34 chart
24:36 again this is
24:38 all
24:39 Euphoria and then we had a high we open
24:43 traded above it traded above it traded
24:45 above it traded now we're here I'm not
24:48 interested in taking that long I don't
24:50 want to buy this I don't want to I
24:51 wouldn't take a fair value Gap in here
24:54 to go down into the trade higher because
24:55 it's too long in the tooth that means
24:57 it's too too far stretched out and it's
25:01 more likely to try to revert back to a
25:03 fair value what is that where liquidity
25:07 is below lows below lows gaps relative
25:11 equal lows this Gap here this
25:15 consolidation there's a lot of liquidity
25:17 and interest to protect a long position
25:20 right right below here because it's
25:22 moved up a lot real quick so Traders are
25:24 going to want to be placing their stop
25:25 loss just below that to protect and
25:27 Preserve
25:28 the majority of all this move if they
25:30 were happy or lucky enough to be part of
25:33 it
26:04 okay
26:14 950 just about 9 minutes before Silver B
26:18 10 o00 hour
26:25 begins 52y old bones cracking
26:41 just want to take a peek
26:43 at
26:45 es so es is lagging a little bit so that
26:48 means it's probably going
26:50 to either see NQ stay at its highs and
26:55 allow es to catch up
26:59 meaning that yes it should be going
27:02 above this high but if we start to see
27:05 NASDAQ breakdown and Es fails to go to
27:09 this high or
27:11 higher we
27:18 have my eyes going
27:21 here so if it's going there I like that
27:23 gap for
27:24 ES so for those that are watching ES
27:29 just look at it like this it's easier
27:31 for me to draw that level there but it
27:33 still might first initially take out
27:35 that high because we have NASDAQ flexing
27:39 today strutting her
28:00 remember we're not trying to pick the
28:03 end of the up move because it's an
28:04 election year I told you many times even
28:07 in uh Twitter spaces over last year and
28:11 the year before election years they
28:14 tried to pump up the stock market
28:16 because they like to make the incumbent
28:18 president look like they've done well
28:20 for the economy but the stock market is
28:21 not indicative of a measurement of the
28:23 economy it's just a speculative Casino
28:28 so it's kind of like a built-in
28:30 self-fulfilling
28:32 prophecy electioneers tend to have a
28:38 built-in buy model it just keeps going
28:40 higher pressing higher it's easier for
28:42 the market to go higher on Election
28:44 years than it is to
28:50 drop and you add that to the built-in
28:54 premise that stocks are meant to go up
28:56 the markets meant to go up
28:58 it's you're fighting a losing battle if
29:00 you're trying to you know trying to
29:01 short every instance that the market
29:04 gives you some kind of a broken wi
29:06 tactic like oh look I'm I'm I'm about to
29:09 go down and you go in and you try to
29:11 short it you get chopped up like this
29:13 which is why I have adopted models where
29:16 I have to see certain things traded to
29:19 and then you got folks that may listen
29:22 to this or watch it and they'll say this
29:24 this guy doesn't know where the Market's
29:25 going I know where it's going it's going
29:27 to keep pushing and squeezing against
29:29 people that want to go short
29:30 because everything tells me it's want to
29:33 go down here but I have to wait for it
29:35 to stop doing this part of it and my
29:39 rules say it's got to give me this first
29:42 well you're you're missing out on all
29:44 this are you in it did you go
29:47 long I'm not taking anything unless it
29:50 makes sense because I'm not I don't want
29:51 to take a trade I don't want to go into
29:53 a trade I don't want to have a an
29:55 emotional tie or concern about the
29:58 outcome of price fluctuation unless it
30:01 fits the criteria that I anticipate
30:03 seeing and if it doesn't have those
30:06 those Hallmarks those
30:08 indications what am I doing I'm gambling
30:11 then if that's what I'm not following a
30:13 rule if I'm not fing a model then I'm
30:15 just chasing price and that's
30:19 stupidity we already know that there's a
30:22 likelihood for it to keep going higher
30:24 but even if it does go higher it has to
30:28 drop and have some kind of a a
30:30 retracement some price swing that upsets
30:32 liquidity on the on the the downside
30:35 sell side sell side has to be engaged
30:38 because my mentality is I know that
30:43 entities with larger pools of income and
30:47 equity and money to put on a trade
30:50 better and greater than I
30:51 do they're not willing to take any
30:54 interest in the market when it's
30:55 rallying initially right off the opening
30:57 up this
30:58 it would rather
30:59 be more likely that they'll wait for the
31:02 market to come back and go into a pool
31:04 of liquidity where there's deeper
31:06 discounted prices and that's always
31:08 going to be below old lows singular or
31:10 relatively equal lows and waiting for
31:13 those instances is far better than just
31:17 simply saying uh it keeps going up just
31:20 keeps going up let me just get in there
31:21 because it might just keep going it
31:22 could it could keep just keep great on
31:24 going up today and just like on Tuesday
31:26 I don't care I don't care about that
31:29 because I'm not trying to be just a part
31:30 of the move I want to be in a setup that
31:34 I have framed with logic that I've
31:36 recognized I've seen before and I'm not
31:39 just going in there for the sake of I
31:41 want to put another coin in the slot
31:42 machine to see if I can get a jackpot
31:45 today that's
31:47 gambling so in other words it has to
31:49 make sense or I'm not doing
31:54 it all the other people out there demo
31:56 and do the trades and try to f me and
31:58 say I did this but you won't have any
32:00 logic behind it it'll just because you
32:02 wanted to say you did something
32:04 different I was reading uh tan just's
32:07 chat yesterday while I was
32:10 uh going back over the people I like
32:12 looking at and I'm reading the comments
32:15 they're saying ICT doesn't know where
32:16 where the Market's going to go even ICT
32:18 doesn't even know where the Market's
32:19 going I was outlining it yesterday these
32:22 people are really run really funny
32:36 let's take
32:38 a peek at the
32:43 uh let's look at the weekly chart
32:49 [Music]
32:58 right
33:00 [Music]
33:05 here so
33:09 4445 is that what that is it looks like
33:18 it all right and now we can
33:24 go so we're trading in the middle or
33:27 consequent correction of that Weekly Gap
33:30 or weekly Wick which we treat as a gap
33:33 so I want to see does it start to Peter
33:35 out and run out of steam
33:42 here it Powers through and goes higher
33:45 that same level 44450 or so uh could act
33:49 as an inversion level but I'm not trying
33:52 to do anything with it unless it goes
33:54 back down through it comes back up and
33:56 then treats it as a a means of support
34:44 yeah it's beautiful is
34:51 it the other reason why I'd like to see
34:53 it trade lower before I would ever want
34:55 to go long is if you look at the opening
34:57 range
34:58 it's
35:00 annotated with the high of it here which
35:02 is the opening price at
35:04 930 many times many many times even when
35:07 you have runs that just start running
35:09 like this they'll want to come back down
35:12 in this case to come down and touch the
35:14 opening Range High which is simply the
35:15 opening
35:16 price and then it if it wants to keep
35:19 going higher then it can start to go
35:20 higher and press through that going into
35:22 the close of the
35:23 week either way this is still nothing I
35:27 Chase I would not want to be a part of
35:31 that and I can understand if you're new
35:34 or if you're rather a novice you've been
35:36 trading for a little while you maybe
35:38 demon trading maybe you passed the
35:39 funding account but never got pay out
35:41 and you're just always constantly
35:42 looking to you validate Yourself by
35:45 having criticism directed towards
35:47 somebody else if I'm sitting out here
35:49 and everybody knows I'm a a little bit
35:51 of a loud
35:53 mouth and you see runs like this and
35:55 you're say well he should he should be
35:57 part of
35:59 that well I'm not interested personally
36:02 in trying to chase after that and that's
36:03 that's been my roles ever since I
36:05 stepped out as a Trader educator type
36:08 Guru if you want to call it
36:11 that you'll see more instances of trying
36:13 to chase it and then
36:16 failing then it just keeps going higher
36:18 and higher and higher and never turns
36:19 around like these are unsustainable
36:21 price runs there has to be some kind of
36:23 a
36:25 retracement and if you don't blame me go
36:27 in with your account and trade it and
36:29 see how hard it is to hold it number one
36:32 every little fluctuation or CA
36:34 Candlestick that stays small and doesn't
36:37 really
36:39 rally you're going to start feeling all
36:41 of this anxiety because you're like oh
36:43 man oh man because it's too it's too
36:46 perfectly
36:48 one-sided and to me that's just too
36:50 enticing for someone to get raped across
36:52 the coals and I'm not willing to be the
36:54 person to do
36:56 that so I I will give up price runs like
36:59 that just like on Tuesday it's not
37:01 important to me it has to make sense so
37:04 we're in uh 10:00 now
37:46 [Music]
37:50 look at the
37:52 Dow it's another reason why I'm not a
37:55 fan of going in it because now NASDAQ is
37:58 the only one only one isn't it
38:01 interesting that I'm live streaming and
38:03 I'm telling I'm not looking for it to go
38:05 higher I'm looking for it to go lower
38:07 and keep driving it higher keep because
38:09 some of you are probably trying to
38:11 predict and trying to capture the high
38:13 and trying to go
38:14 short and if anyone's doing that you're
38:17 you're providing liquidity for that
38:19 market that keep rebooking
38:21 higher because they know they can use
38:23 your trade to book that higher price
38:25 that they keep pumping out into the
38:26 marketplace they keep offering higher
38:28 prices and you go into the market order
38:30 you go in with the limit order that
38:32 meets that criteria that you keep
38:33 pushing the price the whole time Dow and
38:36 I don't make the case for smt just on
38:39 the basis of Dow but look at
38:41 Dow compared to
38:44 es this is
38:46 smt look at the uh
38:48 es oops that's the wrong
38:51 one I was going to say wow we got a we
38:53 got a real mixed market now so we have
38:55 the higher high there but we don't have
38:57 it with the the Dow and go back into
39:04 NQ there we
39:07 go so we could be
39:10 forming an inate term High here for
39:14 Nasdaq and I'm interested
39:21 in let me leave that there for now I'm
39:24 interested in this Gap right here
39:31 right
39:40 there so now because we've had this
39:43 elongated run and Market protraction
39:45 higher digging in digging in digging in
39:48 taking anybody that wants to be short
39:49 out building in people net long so now
39:53 they have counterparties that they've
39:55 sold to
39:58 initial fair value is this not fair
40:00 value Gap fair value for the sake of
40:02 fair value is the opening Range High
40:05 which is the 930 opening
40:07 price so it's in my interest to see
40:11 drawing back down into that and touching
40:13 that again even if it want to go higher
40:15 that's
40:17 fine thing pops
40:19 [Music]
40:23 up right so now if say you're long and
40:27 you were chasing it here because you
40:28 wanted to fade ICT because ICT said I
40:30 wouldn't buy this I'm going to go long
40:31 and I'm going to be able to show social
40:32 media that I went long well you're
40:34 yourself
40:37 now I want a little bit more than that
40:41 just opening and touching that that's
40:42 not
40:53 enough don't ask me why that's in my
40:55 head but that's I woke up that this
41:22 morning so I have uh
41:27 I have a Samsung Galaxy
41:30 Note 20 I think what is I forgot what it
41:34 is it's I've had it for like two
41:38 years and
41:41 uh I did the update on it there our
41:46 inversion the you got the uh and now the
41:50 top of my screen on the top edge of it
41:53 it flickers and it doesn't show the
41:56 full like on YouTube everything's
41:59 truncated it doesn't show
42:01 everything and my emails don't show and
42:05 my charts don't show so it's something
42:07 at the top of the screen so I guess
42:10 that's that planned obsolete stuff they
42:13 do oh guess you got to get a new phone
42:15 don't you ICT nope this is my last cell
42:18 phone I'm not buying another one that
42:20 can suck my ass
42:37 we want to see it if it wants to trade
42:39 back to here we want to see it get below
42:42 consequent caching of that Wick right
42:44 now it's potentially us using it as
42:47 support to go back up into this
42:49 inefficiency once
42:51 more so in other words we can see a
42:54 spike or a wick above the inversion fair
42:58 value
42:58 Gap can Spike up into that but the body
43:02 stay inside of it that's that's okay in
43:05 my mind it's
43:07 permissible I don't want to see it go
43:09 back up to here because that would mean
43:10 that this is an exhausting Gap and it's
43:13 moved away agressively this one here it
43:16 can be traded up into but I'd like to
43:18 see the upper portion of it stay open so
43:21 let me zoom in so that way you can see
43:24 it let me make it maximized first
43:27 [Music]
43:32 think of it like
43:36 this
43:41 High there's half so I would like to see
43:44 this portion up here stay
43:47 open so like
43:50 this
43:53 here
43:55 so that
44:07 [Music]
44:19 [Music]
44:25 okay so any spiking up with a wick but
44:29 the body staying inside of that shaded
44:30 area here validates this as an inversion
44:33 fair value Gap so now say on a day like
44:37 this where you keep seeing this keep
44:40 driving higher and higher higher higher
44:42 and
44:43 it's I guess um I don't want to use the
44:46 words I won't I won't use the words it's
44:48 a it's more difficult for you to get a
44:52 read on it you don't want to trust
44:54 buying it because it's going higher and
44:56 it's been going straight up from the
44:57 open but it's also had a big run at 8:30
45:01 so every time Dick and Harry Street
45:03 money is trying to buy this today right
45:06 off the open and they've rewarded them
45:09 with a sugar
45:11 rush
45:13 but you see the things I'm showing here
45:16 this Gap we we want to see a trade there
45:19 there's a inefficiency here this one we
45:21 want to see that treated as an
45:23 exhaustion
45:25 Gap this one
45:29 we want to see it stay open in the upper
45:31 half of it because if it can't trade up
45:33 into this portion of it that means it's
45:35 really heavy and we can have a strong
45:38 conviction I I would rather I would have
45:40 a strong conviction about it potentially
45:43 returning back to the 9:30 opening price
45:46 and leaving that pink area up
45:48 here unfilled okay and all it's done
45:51 don't completely close it in can it go
45:53 up there and close that in and still go
45:55 lower yes it's just a matter of I prefer
45:57 it not to do that we've had one two
46:03 little Wicks above outside of this but
46:05 where the bodies are inside of it inside
46:08 of that Gap right
46:12 there we found our way through the
46:14 midpoint of this gap which is the
46:16 discount Wick so halfway let me get all
46:20 these other extra lines off I'm
46:21 [Music]
46:24 sorry I was running the standard
46:26 deviations on
46:27 the S&P last night and I left them
46:35 mon so here's the uh consequent corach
46:38 of
46:39 that I don't like the fact that we were
46:41 bumping up again in here after making
46:43 lower attempts to go lower so now go
46:46 back into thinking that it could very
46:48 well go in here once more maybe touch
46:51 the low which is consequent encroachment
46:53 of this low that candle's high but this
46:57 portion I want to see that stay open if
46:58 it completely rolls over top of that
47:00 pink area and trades
47:02 higher I'm standing still and I'm going
47:04 to have no bias and it would be no no
47:07 touch no trade not not doing anything
47:09 and I would then wait until 11 o'clock
47:12 11:30 to try to trade against whatever's
47:15 been in the marketplace up until that
47:16 point and I would use that as a lunch
47:19 macro and I would fade the run at that
47:22 time and I'm look for similar
47:24 situations so here we are we have we bed
47:27 up into that portion here which is
47:33 permissible if we can get a
47:35 close below this point
47:38 here that would indicate that it's most
47:40 likely going to roll over and then
47:42 return back into uh the opening range
48:00 having done this as long as I have I'm
48:02 very very appreciative of having the
48:06 patience that as a younger man I would
48:09 not have had I would have been chomping
48:11 at the bit every time it red up I didn't
48:13 like oh man I wish I would have bought
48:15 that I wish I would have bought that and
48:17 seeing how it's trading now I'm I'm
48:19 thankful that I have
48:21 endured the painful lessons that I had
48:24 to endure because if I didn't I would
48:26 have I would have never learned any
48:29 other way because I had initial luck and
48:31 that's always a bad
48:36 thing if it ain't made on
48:39 skill and and real ability and it's just
48:43 luck you can't hang your hat you can't
48:45 hang your hat on that and feel good
48:46 about it and it certainly doesn't booler
48:49 confidence
48:56 there we go touch the consequent
48:58 encroachment and again I want to see
49:01 this portion stay
49:05 open and if it trades through it and
49:07 above it my interest is over I'm not
49:10 doing anything with it and if I have
49:13 time I may stream the afternoon in that
49:16 in that event no promises but that would
49:19 be something I might want to
49:25 do for
49:43 [Music]
49:58 [Music]
50:04 [Music]
50:16 quick P
50:18 yes I'm looking at everything just like
50:21 you would if you don't have all the real
50:23 estate I have in hardware and charts and
50:27 stuff I have my single laptop I'm in my
50:30 basement laying on my wife's Love Sack
50:32 here using the foottoo as my pedestal
50:36 for my laptop which is probably not a
50:38 good idea that's why it's so hot it's
50:39 not even able to
50:43 vent ra this thing
50:51 up and then uh take a quick look at the
50:55 Dow
50:58 no participation so we have a
51:01 mixed condition where we don't have all
51:03 three averages
51:04 agreen uh that's also something that
51:08 um if this would have been like the S&P
51:10 then it really would have been
51:12 problematic to be a buyer for me but I
51:15 don't need all
51:18 [Music]
51:22 that it feels like they're going to wipe
51:24 that high one more time just because
51:27 I'm outlining it for a retracement and
51:30 if I was making the market and ICT was
51:32 live streaming I would do that too and
51:36 then i' sync it after
51:42 that see that tiny you think I don't
51:45 know what you're doing Phil
52:04 that
52:14 [Music]
52:56 for
53:11 [Music]
54:03 so so far we've
54:08 had this entire Gap Clos
54:11 in here the bodies are stopping that one
54:14 little little Mohawk outside of that
54:18 range this
54:20 portion again I'm viewing that as a
54:23 exhaustion you press press press press
54:26 press High
54:31 trade below the Gap I have interest
54:40 in this feels like they want to pump it
54:42 one more
54:55 time
55:25 for
55:52 [Music]
55:55 for
56:25 e for
56:40 [Music]
56:58 [Music]
57:10 I swear that I why anybody likes to
57:13 trade Dow is beyond me it is so ugly
57:18 it's only 30
57:20 stocks so sloppy
57:26 [Music]
57:34 so now here's what we
57:38 have we have the market has dropped
57:41 shorts uh have their stop loss
57:47 [Music]
57:50 here not this
57:53 one this
57:55 one if we get a higher high because I
57:57 have to make my Escape here my
58:00 appointment's coming up I'm going to
58:01 make sure I get off here and be ready
58:03 for it it's a phone conversation I have
58:06 to
58:08 [Music]
58:09 have so okay we're in this area here so
58:13 that means it's probably going to run
58:15 this high if it runs the high then I
58:17 would look for it to break
58:19 down if we can get back below this Gap
58:23 this I would like to see that act as an
58:25 inversion Fair you got no trades have
58:27 been taken no
58:31 uh no face needs to be saved no uh no
58:37 pain no embarrassment no nothing it has
58:40 to it has to provide me the information
58:42 or there's nothing to do and I'm I'm not
58:45 going to cosign
58:47 on Market action that I'm not I'm not
58:50 comfortable with and that's the whole
58:52 point of teaching my son this way
58:54 because it's not getting in a trade
58:57 system because you have a
59:01 trade so I'd like to see it bump to high
59:03 one more time that would that would give
59:07 the street
59:08 money comfort that they're they're
59:10 probably right and then they would raise
59:12 their stop loss below here so this is
59:16 where a second pool of liquidity
59:19 is up equal lows
59:27 it's going to go up there it should do
59:29 it
59:30 now because you had a gap it overshot it
59:32 went into that Gap here so it should
59:35 spring up there and clear that
59:38 high this
59:41 [Music]
60:03 yeah I might uh I might live stream this
60:06 evening this afternoon
60:11 rather if I do you'll see a post on my
60:15 community post on my community tab on
60:18 the YouTube channel it wouldn't be
60:20 before uh
60:26 it would probably be 145 if I do it at
60:34 all but this for Caleb's learning he
60:37 would be doing
60:38 nothing he wouldn't do anything
60:41 today because the the time constraints
60:44 have already expired for him it wouldn't
60:46 be something he would be pushing and
60:48 doing anything so he would turn his
60:49 charts off and just go do whatever he's
60:52 going to do and then come back in the
60:53 evening and do his logging and back test
60:57 to study to see what was available in
60:59 price
61:03 action I'll stay with you for another
61:05 three minutes and then we'll close this
61:10 one when we get through August this is
61:12 pretty much what the the timelines are
61:14 going to be like starting when the
61:17 stream hopefully at 9:15 but uh 9:15 and
61:21 then closing them by 11:00 a.m. so
61:24 they'll be a little bit smaller and dur
61:26 ation and a whole lot less talking
61:28 because I want to be observing and
61:30 watching
61:32 price and only speaking when there's
61:34 something that's
61:40 pertinent so I'd like to see as like a
61:43 trap or a one more gun on it to set up a
61:48 a retracement into the opening range Gap
61:50 high is not just go above this High by
61:53 like a a tick or two I want to see them
61:55 throw it above there pretty good like 10
61:59 15 handles maybe 20 handles above it and
62:01 then Peter out and especially if they do
62:04 that
62:08 with the S&P not doing so hot you in in
62:12 in comparison it should take that high
62:14 out so so to your understanding I
62:16 believe that that high could be taken
62:18 out but this afternoon going into the
62:21 lunch or post lunch this Gap and this
62:24 level right there I believe we're going
62:26 to see that again today that's what I
62:29 would go into the after without me know
62:30 anything more than I have in the chart
62:32 right now I would look for those levels
62:34 to be treaded to and if it doesn't do it
62:36 prior to one o' then I would expect that
62:39 to be what we would see in the afternoon
62:42 and if I can find the the time and the
62:44 opportunity to live stream it and it
62:46 hasn't done those things I'll come out
62:47 and I'll try to walk you through it as
62:49 well but the
62:53 ym this is a sick puppy
62:58 like I would not be interested in that
63:01 at
63:02 all
63:04 now one of the things that Dal tends to
63:07 do is it'll do all this lethargic I'm
63:10 not following along in pal and then all
63:12 of a sudden it comes to life and real
63:13 suddenly runs and gets to these levels
63:16 so then that way you have any
63:18 cancellation of an smt Divergence where
63:21 one indic makes a higher high or two
63:23 indices make a higher high and one
63:24 doesn't generally it's usually going to
63:28 be the Dow that doesn't want to listen
63:30 it's a brat it just does not want to
63:33 listen and that's the reason why I don't
63:35 trade it because it's usually the first
63:37 indication
63:38 of things starting to crack things are
63:42 not uh they're not as strong or as weak
63:45 as they may
63:46 [Music]
63:47 seem and I prefer to see a smt
63:51 Divergence on either the es or the
63:54 NASDAQ compared compared l so in other
63:56 words if a higher high seen in
63:59 yes if the market breath and
64:03 strength is there then the NASDAQ should
64:06 do it too and if it's not if it's not
64:08 seen then I'm not really willing to
64:11 Chase or look for continuation or look
64:13 for a follow through for the session or
64:17 for the
64:19 day right this should pop up there next
64:22 candle
64:28 [Music]
64:34 there it
64:37 is so anyone that's short here they've
64:41 been canceled out so then now I can't
64:44 stay with you because I got to escape
64:45 now but uh I would look for a reason for
64:48 it to roll over and then it start to
64:50 accelerate and I treat this Gap as an
64:52 inversion pair value Gap and because of
64:54 the range and the size of it run the
64:56 quadrants on it so put your F on that
64:58 candle's low that candle's high and have
65:01 all those levels in here and we would
65:03 start to see once it gets down below it
65:05 we want to see the upper half of it left
65:08 pretty much open not try to trade to it
65:11 too much and all the work be done at the
65:13 lower half or underneath it and then
65:15 send us below the consequent corre of
65:17 that Wix
65:19 midpoint and accelerate with large
65:22 candles below here trading back down in
65:25 to opening range Gap high and if it
65:29 wants to accelerate through that into
65:31 the afternoon here and then liquidity
65:33 there and it can still go higher after
65:35 that just know that that's uh what I
65:37 would
65:38 expect and I think that's going to be it
65:42 uh not all that terribly sexy
65:44 today but uh that's how it's going to be
65:47 sometimes when you're trading your own
65:48 money you just going to have to wait and
65:51 don't force it that's going to be it for
65:53 this one I will touch base with you this
65:54 afternoon if the it's possible if I can
65:56 work it out with my wife and she's okay
65:58 with it and if not I will see you
66:01 tomorrow um before 9:30 opening bell
66:04 let's say it that way I'm going to aim
66:06 for 9:15 but before the opening bell at
66:08 9:30 New York eastern time so I'll talk
66:10 to you then be safe
66:15 [Music]
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