YouTube Transcript:
Boot Camp Day 36: Daily Bias pt_ 3

yeah what's good guys welcome to daily
bias part three where we'll go over
charts again
um this is kind of just gonna be like a
recap
sort of thing
um recapping uh like how we find our
daily advice I guess um and we're just
gonna do a little bit more of what we
did yesterday okay so again what are we
what are we trying to figure out first
thing or so like the reason why I
mentioned
like the weekly time frame
is if we break structure to the downside
on The Daily
but we're in a bullet but we're in an
uptrend on the weekly odds are it's
going to be a weekly retrace
and that's just something you have to
keep in mind right and that's something
you should keep in mind for every single
time frame is whatever the higher higher
time frames hold higher power and are
going to cause the market to move in
that direction right so if we're looking
at the weekly and we see breaker
structure to the downside on The Daily
like this
right odds are it's going to be a weekly
retrace so what can we do right for
something like this
we can use our retracement tools Okay so
ideally I would have liked the weekly
time frame to come into the to
equilibrium at least right or fill this
fair value Gap and that's kind of what I
was banking on this past week
because it was underneath this monthly
low price did not decide to close
underneath the monthly low as as I
thought it would
okay and that's fine
right I'm completely fine with that it
broke structure to the upside on the
monthly
again though economic climate looks
awful
so what does that lead me to believe
well there's liquidity again on the
monthly time frame all the way up here
so where where is the where is Price
likely going to draw towards here or
here right and then cause a reaction off
of it
I do I personally don't think we're done
um
personally that's just how I feel
um
and uh yeah that I don't I don't know
that's just how I feel that's just how I
feel on it because
indeed the news data is telling us you
know we still got [ __ ] to work out bro
like there are too many people that are
still rich and that still have all their
money from
this covered [ __ ]
and my ideal Target and sorry this is
getting way off track but this is good
information anyways my ideal Target
would have been to take out these
coveted lows
these lows that were made through covid
where most people were probably buying
after we were able to take back after we
were able to reclaim all-time highs
after this big dump this was smart money
this was the rich getting richer
liquidity sweep launch
okay
all dumb money entered off of all-time
highs getting taken out
this is where people got rich
right from like here up to here
right that's where people got loaded off
of just covered stocks booming and then
we restructure
to me this has this move down hasn't
really done anything
ideally
right this is a quarterly
order block why because we swept
liquidity moved higher
we didn't come near it what did we what
did we fill with this
we didn't feel like really anything
maybe we hit equilibrium
but other than that
barely hit equilibrium
I think this thing wants to go lower
um like this is not this is not enough
this it like ideally on a high time
frame one tiny Wick during one week
that's not enough time for smart money
to fill their orders
right it would make sense for it to take
out these coveted lows fill this order
block
and and then we we liquidate all the
people that got rich during covid and
that's essentially why we have to fix
this inflation [ __ ] because we were
handing out money like nobody's [ __ ]
business during covid we were handing
out we were literally handing out money
to to like handing out like
2.8 k bro
to people who didn't deserve it and to
people who didn't need it
and what were they doing they were
buying stocks they were investing you
guys remember back in covid when um
freaking investor Tick Tock was going
crazy
these are the best stocks to buy with
your stimulus check
Doug are we being for real right now
so anyways like cool we broke social the
monthly this is the next draws on
liquidity
I still think we're going lower
um at least to take out like these two
lows
okay but anyways we're getting
we're getting too caught up here now
okay so back to daily bias I like to
look at the weekly to understand okay if
we get a daily break of structure the
downside and we're in a weekly uptrend
we should understand that okay we need
to use our retracement tools
to figure out where price wants to draw
to
okay and keep that in mind while we're
trading on The Daily
okay then we get over to the Daily and
we figure out okay what is our daily
bias
what is daily Market structure oh we got
a breaker structure the upside cool
we're looking for buys and then from
there
scale down into the four hour okay what
is the four hour time frame saying buys
perfect even better for long positions
what's the one hour saying buys perfect
even better for long positions and then
what do we do when we scale down to the
15 minute we or sorry what do we do on
the hourly in the four hour we use our
building blocks to find those High
Confluence areas to take a trade so like
here there's not much right there's
there's really not much on on this shirt
that's why I didn't trade the s p on
Friday
but like to me I see liquidity lying
underneath
underneath these hourly lows massive
imbalance within here
another imbalance underneath here
you could consider
this
candle the downside in order block why
because it swept these lows caused a
rally higher orders were filled okay so
these are the things that you want to
mark up and then when price comes into
these high Confluence areas then what
are we doing on the 15 minute on the
five minute we're mapping out more High
Confluence areas on the 15 minute okay
so right maybe we come into this
imbalance what what's a Confluence right
this is Confluence on the hourly right
so we have high time frame Confluence
along with what are we trying to find
now low time frame Confluence we have
liquidity underneath here maybe we see a
liquidity sweep then a breaker structure
on the five minute perfect along that
[ __ ]
right because the daily the weekly the
four hour the one hour and the and the
15 minute is giving us confirmation
right daily saying bullish weekly saying
bullish four hours saying bullish one
hour saying bullish 15 minute is telling
us execute
that's what we need to do
yeah you're probably saying oh there was
a breaker structure on the 15 minute
right here to the downside dog it's a
one hour retrace remember keep that in
mind 15 minute break of structure one
hour retrace one hour regular structure
four hour retrace four hour break of
structure daily retrace daily breakup
structure weekly retrace
higher time frame holds higher power so
that's why we want to keep our bias on
the high time frame and we can't get
skewed by these low time frame
bullshitized moves
okay so when you see a 15 minute break
of structure don't be like oh are we
going bearish no
stop getting trapped into the low time
frame bias because it's really easy to
do that a lot of you guys see a breaker
structure on the one minute and
instantly think the whole chart's gonna
go down forever a one minute break of
structure could very well just be a five
minute retrace bro
so with that being said we used High
time frame Confluence with with low time
frame execution to get long-term trades
that run pretty far okay and that's what
that's our goal
right because yes you might see a break
of structure on the five minute and yes
you might get a couple points or a
couple Pips but guess what if it's in
the opposite direction
you're getting this small leg versus
what you could be getting is the big leg
to the upside small leg down big leg to
the upside which one would you rather
take would you rather take the
retracement or the extension me
personally I'm taking the extension
every single day that's what I that's
your goal every single day is to be
taking the extension
okay so when price is not in line with
your daily bias you're screwed Okay so
boom right High time frame figure out
your confluences four hour there's
really not much to go off of hour
there's a little bit we have liquidity
underneath hourly low imbalance
liquidity underneath this low imbalance
order block right and you know if it
comes in here and then gives us no
reaction cool we're not executing that's
the great part about this right when I'm
in my zoom call I map out all these
areas and I'm saying you know like if it
comes here and gives us a reaction cool
we'll execute hold on
foreign
but if it comes into these areas
and doesn't give us and doesn't give us
a reaction what do we do
like it was never there because it
didn't give us a reaction and it didn't
give us the move that we wanted so we
don't care about it anymore
okay
so that's what you're trying to do so
that's how you do it on the S P we'll
show an example on uh gu now
I that wasn't all right dude I swear
like
okay all right I still need to clean
these stamp charts after this Discord
soon calls
all right bro and I need to blow my nose
again whatever
anyways this is a perfect example
perfect example of the daily and weekly
thing
okay so we're in a downtrend on The
Daily but weekly
we're not quite in the in the imbalance
yet so what are we trying to do
right bearish bearish trend on The Daily
so what are we trying to do we can find
Confluence on The Daily for where price
would like to draw draw towards
okay and we can use that as price points
as take profits for our very small time
frame trades
because the weekly isn't even into a
discount yet that's like the bare
minimum that I look for for retracements
is it even in a discount
because to me that's everything that you
would want to see so for this right
Weekly's in an uptrend daily is in a
downtrend perfect
we're not taking ideally we're taking
shorts because of the dailies in a
downtrend right but we understand
that this downtrend probably won't come
all the way down here why because the
weeklies in an uptrend so where are we
looking for price to draw to first place
would literally just be coming into a
discount
second place scale down
this Lake here
order block why boom big big big leg
down taking out liquidity boom rallies
higher off of it orders were filled with
this move down
what else we have
like this within here imbalance also in
a discount
right all of these things I'm just
marking out on the chart and I'm saying
yeah if it comes in here cool perfect
I'm taking it
right what else we have we literally
just have like liquidity underneath
these lows if we go into the hourly
we've liquidity hourly liquidity here
hourly liquidity here
foreign
going to the Daily okay where's the
order block that caused this entire move
up
the move down that caused this entire
move up right here
cool maybe price wants to Boom come up
here right this is these were the shorts
that we took today
or sorry yesterday
we took the shorts off of this
right and this is probably something we
could have held over the weekend but I
just don't like doing that because guess
what what are the odds that this thing
ends up turning around yes and this is
another thing yes the four hour broke
structure the upside but look at the
daily
look where the Daily's at
all the way up in a discount
what happened to the hourly
we broke sure to the downside
that's kind of all I need
so you're probably saying oh the four
hour broke broke structure to the upside
we'll let's loot use our heads
sure yeah the four hour broke structure
the upside maybe I don't want to take a
short underneath in a premium but once
it gets up into a discount once it gets
up into oh what's this a four hour order
block sweep of liquidity extension down
and I'm seeing reactions on the 15
minute and on the five minute
along with price coming into this was
the Confluence that we took out off
yesterday along with price coming into
an hourly order block here
makes sense to go short
we're in a discount we're in a four hour
order block we tapped into an hourly
order block and we saw a reaction on the
15 and the five minute
and then what then then what does that
give us a daily trade where we can then
Target daily take profits First Take
profit off a five minute execution
boom discount literally could be this
low liquidity an extra on liquidity in a
downtrend the next round liquidity in a
downtrend is just the most recent low
then we have the discount level then we
have liquidity here and then we have the
order block here
keep it freaking simple
that's all we need to do
okay that's that's the that's all we
need to do
and then we're still keeping in mind
that hey the weekly we're in an uptrend
okay but we're not going to we're not
going to have bearish bias until we
break structure back to the upside on
the on the daily because what's that
telling us that the weekly retracement
is over
daily downtrend weekly uptrend right the
daily the dailies the daily is breaking
structure to the downside it's a weekly
retracement once it breaks the structure
back to the upside cool that means the
next extension the next leg up for the
weekly is ready to go
does that make sense
moving forward
this one's a funny one actually I like
this one
I need to find that Minion picture and
just save it
that's actually a very funny picture
okay anyways gold what are we looking at
weekly downtrend
okay where would be confluences
for us
okay
where would price likely want to draw to
innate answer and on the weekly this is
something where it's like downtrend on
the weekly uptrend on the monthly
keep that in mind who really cares
because that's such high time frame
okay weekly we're in a downtrend we're
currently within this imbalance but does
that really matter with our daily bias
not really
right Weekly's in a downtrend Daily's in
a downtrend cool what are we looking for
retracement tools
cool we're in a discount
scale down
oh look at that
we just filled an imbalance
scale down to the one hour
what's this right here
hourly order block boom we push higher
took out these highs capitulation lower
pretty much filled past this already
we're within the hourly order block now
so what what would we be waiting for
right since we're in a daily discount
sure the four hour broke structure to
the upside
but remember just because the four hour
broke structure to the upside what what
does that mean daily retracement
so yeah we've already retraced on the
daily we're in a discount so we're
looking for reversal points for price to
come down take out this load
for price to push lower where are where
are our draws on liquidity where is
Price likely going to pull towards on
The Daily Now daily liquidity
daily order block
in like literally this whole thing is an
imbalance I'm not going to mark that on
the chart because we can just eyeball it
okay you can even Mark the top of this
because this could potentially be an
order block as well why boom move down
big extension up yes this is like
technically the move down before the
breaker structure the upside but this
you can see boom leg down biggie
centered up after that
right so those are our draws and what
are we waiting for we're waiting for a
confirmation on the hourly on the 15
minute for execution points
do we have a breaker structure the
downside on the 15 minute yet no we
don't so are we going to execute also 15
minute imbalance right these are the
things that we want to look for okay
daily downtrend weekly downtrend four
hour uptrend but we're using for our
four hour building blocks to find an
execution Point within the four hour
building block okay so what do we have
within here 15 minute fair value yeah 15
minute imbalance also hourly order block
okay so this whole price range right why
do we use our building blocks because
it's price range that are high
Confluence for orders to get filled for
price to go in whatever direction we
think it's going to go that's all this
is
it's just high probability price ranges
and we're executing off of confirmation
okay so what what what are we waiting
for waiting to happen a breaker
structure to the downside
from the 15 minute
okay
maybe we want to see price come all the
way up into this 15 minute water block
15 minute order block within the hourly
order block cool we're not far from it
we haven't broke structure yet might as
well Mark it out this whole thing's an
imbalance
we're within an hourly order block right
now so we're literally just waiting for
confirmation
confirmation to the downside on Lower
time frames
to go short and then where can we target
those daily areas boom daily draw and
liquidity here
daily draw and liquidity here potential
order block potential order block that's
take profit one two three four
and the crazy part is you don't even
have to Target that [ __ ]
but you can just have it in the back of
your head sure maybe if you want to hold
your trade for like three or four days I
don't like doing that
because the great part about this is
when we get a break of structure off
this this is likely what it's going to
look like here first take profit drawing
liquidity second take profit drawn
liquidity that's already a one to
[ __ ] four our first take profit on
The Daily time frame would have been a
one to four point seven nine risk reward
right if we were to Target all the way
down here
with our multiple take profits that
would be a one to 13.5 risk reward bro
that's crazy
that's like passing
like a funded account and a half off a
trade
if you hold it all the way down there
would I do that hell no because I take
partials
okay because I like to take profits
all right but hopefully this video
helped you guys
figure out your daily bias
um and like I said
you know tomorrow's video we're gonna go
into I'm kind of spamming the trading
videos right now because hopefully you
guys have the discipline down hopefully
you guys have the risk management down
that [ __ ] should be damn near robotic
now we did the trading plan video like
what a week and a half ago
if you don't have that down by now
you're emotional and you need to fix
something you need to get off live you
need to get you need to go to demo
maybe you just need to take a break from
Trading and make some money so you feel
like confident in yourself to even like
even have the potential to risk money in
the future right you maybe you can't
maybe you're still trading demo and
you're still getting emotional about it
because you're like I can't wait to go
to live
that is not the right headspace to have
okay
so
that being said daily Bryce is wrapped
up we're going to get into taking
profits and we're going to get into stop
losses
in the next couple videos
um and then from there I'll probably do
another check-in
let's figure out where you guys are at
figure out what you guys want to see
more from me and then we'll go from
there
um hopefully you guys are hopefully you
guys appreciate this video per usual I
appreciate y'all
um and I will see you boys
tomorrow all right peace out