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ICT Forex - The Weekly Bias - Excellence In Short Term Trading | The Inner Circle Trader | YouTubeToText
YouTube Transcript: ICT Forex - The Weekly Bias - Excellence In Short Term Trading
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Video Summary
Summary
Core Theme
This teaching focuses on identifying the weekly bias (bullish or bearish) to anticipate the formation of weekly lows or highs, enabling short-term and swing traders to align their positions with the dominant market sentiment for the week.
- folks welcome back this teaching is
going to be specifically dealing with
the weekly bias excellence in short term
trading okay the weekly bias and short
term trading point to focus in this
module we'll be mapping bullish weekly
profiles when to anticipate weekly lows
to form and mapping bearish weekly
profiles when to anticipate weekly highs
to form okay so the weekly SmartMoney
view as you see here this is a chart
depicting one week's worth of trading
and I want you to take a look at how the
market gyrates from day to day Monday
Tuesday Wednesday Thursday and Friday
this would be in a bullish scenario okay
this is for bullish conditions what
we're looking for is the weekly low to
form between Sunday's opening and
Wednesday they're high odds or the
weekly low to form before Wednesday's
New York open or would be otherwise 7:00
a.m. New York time the odds further
increase between Tuesday and Wednesday
focusing on Tuesday's London to
so let's flesh out some more ideas about
this what you're gonna be looking for is
a higher time frame directional bias and
there's a couple different ways you can
do that and I teach those in the
mentorship but if you'd like looking at
a higher time frame charts like monthly
and weekly charts they will aid you and
assist you in determining that but this
is a hourly and/or 30-minute time frame
viewing the weekly perspective so that
way you can see the entire daily range
over the spectrum of the entire Sunday's
open to Friday's closed what we want to
be focusing on is the opening price on
Sunday now some of you may not have
Sunday candle in your platform and
that's fine it's still beneficial for
you to seek out whatever the sunday
opening price is so you can use things
like websites that follow the foreign
exchange markets and get an opening
price because sometimes these I think
prices will create gaps from varieties
closed those gaps are very indicative of
sentiment and sometimes they could be
exhaustive or they could be insightful
and inform that it's showing underlying
strengths if it gaps up it may not feel
it may not trade back down and fill that
gap entry higher it may just straight
straight away you know Google North
right from the higher opening on Sunday
to open what we're looking for is well
on Sunday's opening we want to see that
opening price and extend it all the way
to Friday keeping that in mind and I'll
explain why that's important in a couple
of minutes but we're primarily looking
for is a power of three formation on the
weekly range but from a 30-minute chart
which is what we're showing here this is
going to give us the intraday reference
points and it'll show you how the market
moves and gyrates with this in now if
you choose not to use Sunday's data
which i think is little myopic lamb or
at least talking about the relationships
of the opening price for the weekly
range because they have to understand
the debt still is there in terms of
trading just because your platform may
or may not have a Sunday scandal the
market data in fact open many times
hours before you would expect it to a
fashion price when your Monday candle so
it's beneficial free to go through and
research and find out what you looking
prices on your respective Forex pair
that's what you're using you can elect
to go with the opening price on Monday's
trading but your data is going to be
slightly skewed okay so whatever your
first opening price is on Monday
you can use that price and draw that
across okay but if it's an instance
where the market starts at a lower price
level on Sunday we may not get the
opportunity on Mondays opening price to
dip down below it one more bullish or
want to be a buyer at the opening price
or below it okay so I use the Sunday's
opening price to teach new traders
because it teaches in number one
sentiment it teaches them overbought
oversold without the use of indicators
okay and it also teaches you to trust a
hard time frame premise what's the
monthly weekly charts suggesting are
they implying that we're gonna be moving
higher or are we moving lower this
example here is going to be framed on
the basis that we elected by a way of
analysis that the higher time frame
charts are looking for higher prices so
that means price is going to expand on
the open one Sunday or shortly
thereafter and having a higher close or
at least expanding throughout the week
to make a higher price level where we
can hopefully find an opportunity to
harvest some pips in terms of power
three what we're seeing here is the
relationship day by day and what price
has done with that opening price but in
terms of a weekly range if you're a
short-term trader you can use this
insight and not have to worry about day
trading at all once you know the opening
price you'll be anticipating that move
down below the opening price
now what level you choose to buy it down
there there's lots of different ways you
can do it and I teach a lot of them and
it's not important for me to share with
you any one particular setup because
I've learned over the years teaching
that some of my concepts don't always
gel or more or less work for certain
individuals it's not because the
patterns are they're not you know
favorable in terms of how to use them in
the price action it's because of
personality it I'll give you an example
to be a buyer when the market creates a
new low that is sometimes scary for
certain traders and they won't want to
do that other traders that see that and
they say what makes perfect sense they
will gravitate towards that type of
pattern the ones that don't want to be
buying below all lows that trader will
probably do very well when they do
optimal trade entry buys where it's
proven it's gone up a little bit and it
retraces it makes more sense for them to
do that so that's why in a free content
I'm avoiding that whole way of teaching
because it gives the impression to the
students or the first-time readers or
viewers of my content that I'm trying to
promote you to follow a specific mold
okay or or press you into a specific
mode which as a teacher and a trader I
know that doesn't work you can't work
okay it might work for some of you but I
don't want to make my success as a
mentor be based on just a handful of my
students I have a way of teaching where
the content is there for you to plug in
play for your own personality and I do a
lot of that stuff in the mentorship but
for free content this is all you need to
work with and you'll find all the setups
you'll ever look for now we can
fine-tune this principle and actually
give you specific levels on what you
would be buying at below the opening
price both in a day traders perspective
and/or a short-term trader so it's a
short trend trader if you've watched my
content and you've been well impressed
with the ability to have that precise of
an understanding you can still use these
same concepts by way of using the
opening price in trading the weekly
candle so the weekly range or weekly
candle they're synonymous terms okay but
I use them in a tune interchangeably but
for the sake of weekly range that's
exactly what I'm talking about okay so
what we're forming here is this
particular week's entire data from the
low of the week to the high that week
this opening price is representative of
the Sunday's opening price we would be
already bullish on the week we would
anticipate this movement from the open
and down we would
be interested in anything from the open
to trade up first we would look at that
as not interesting we would wait for it
to drop down into an oversold condition
what makes it oversold because its
opening price is value okay that's fair
value at the time of new trading at some
point in the future we would anticipate
the market
dropping down okay that dropped down
from the opening price it's going to
make price in terms of what we bought or
sold oversold because the context our
premise behind it we would already be
bullish relative to the monthly and
weekly chart so if we're expecting them
weekly try to continue higher the new
week we would expect to see the opening
price that drop down which is a Judas
link this engineered move is to knock
individuals are already out long or
drive individuals that are not in the
marketplace that want to sell short to
entice them to do so any pending orders
that would sell in a breakout it would
be filled down on this movement here so
you as a short-term trader you could
elect to buy at one of these levels
below the opening price that my
tutorials teach some of but we go into
great detail with that mentorship so you
can frame all types of entry techniques
and concepts they reside below the
opening price okay wait Lee uses
information from the free tutorial
standpoint is if we know that the low of
the week from the opening price on
Sunday making a low of the week on this
weekly range it's going to form between
Sunday's opening and Wednesdays New York
open the odds favor a greater chance of
the low for me when you're bullish
between the London set up and New York
set up of Wednesday so Tuesday's on them
set up to Wednesday's New York set up
between these two time periods I'm going
to encourage you to go through your
charts it's really really easy to go
through hindsight data and you'll see
what I just told you is like the
elephant in the room retail traders
until I taught this stuff publicly on my
youtube channel and in my to tour
nobody was talking about this
nobody was mentioning it no one was
using it and the folks that tried to say
they were always aware of it they showed
examples in their trades and it never
was there they were doing the things
that were opposite to what this teaching
teaches I've been doing this for two
decades okay and only a few handful of
individuals around the world had
opportunity to learn from me you could
read about 18 years ago or so and that's
small little circle of individuals they
and myself have the only ones have been
really been aware of this type of
phenomenon now since I made my tutorials
there's been educators and stuff's
they've linked on to what I teach any
renamed it okay they call it a weekly
strategy they call it you know whatever
else they want to come up with and they
add some kind of a twist in the title
but once you see what they're doing it's
what I've taught here and what I've
taught in my previous teaching how to
cache explosive price moves which is the
free tutorial which I didn't like the
presentation but if you watch that video
or look at it the first couple minutes
of that video is actually what I'm
showing you here so once that was
produced and shared on baby pips and
that crowd watched it all there - they
caught fire problem is is most traders
they don't know what to do with it below
the opening price one more bullish so
which level do you buy in this instance
I'm just gonna teach the classic market
structure goal - optimal trade entry
okay so you're gonna anticipate Tuesday
to Wednesday's low forming now sometimes
it's going to on on Monday but you can
still get a continuation move on Tuesday
or Wednesday but primarily I want you to
be thinking how Tuesday to Wednesday in
that time period that's when the weekly
low is gonna form many times it's going
to be Tuesday's long and open okay now
if that's going over your head I want
you to stop think about what I just told
you though weekly low most likely forms
on Tuesdays on an open when we're
bullish if we are bullish and it does
not form on Tuesday and we drop down on
Wednesday Wednesday we'll probably
be the low of the week if we go lower
than the low formed on Wednesdays New
York open you have to nix the trade and
go to the sidelines on the day
expecially if you took an opportunity on
Tuesday or Wednesday and they were
losing trades you have to stop and just
submit to the fact that you're wrong
even if Thursday or Friday it goes
higher and that's a very hard lesson to
learn because you were bullish on the
week but you get stopped out and it
still ends up going there and you've
missed out on it that's going to happen
it's happened to me many many times and
it does not undo the effectiveness or
the validity behind the setup there's
going to be an imperfection in your
trading so you have to permit that okay
but if we're looking for too low the
forum on Tuesday or Wednesday what we're
simply looking for is a new low in the
week preferably on Tuesdays on an open
or Wednesdays New York Oakland okay
between these two reference points
should that occur okay soon as we have a
lower low in a week formed we find the
short term high prior to that new low
forming in this case it's this here okay
so when that occurs that's our trigger
point so for individuals that want to
buy on retracements with optimal trade
entry we're going to wait for price to
break above this short-term high which
it does here from this point here you're
going to be looking for the low the
forum prior to this run-up now classic
fib people will go from this low to this
high sometimes that'll work
sometimes it won't what I want you to
look at is we have the most dynamic
price movement off of this low so you're
gonna anchor your fib on the lowest
close or open in that swing low drag it
all the way up to this body here now I
don't have that in here cuz I want the
two presentations to be clean because my
watermark on top of the chart and my
references I'm showing you here I want
you to go through and look at this for
yourself go through your own data it
the November 21st and 22nd of 2017 use a
30-minute chart and you'll be able to
see going that fib that low to this high
you get an optimal trade entry
beautifully lined up right there and
there's your continuation by and here's
the thing you're buying it below the
weekly open one Sunday you're buying
below that weekly open trying to do
power three one week this gives us the
best advantage okay to be in before the
expansion that takes place on the weekly
range because we're buying below
evaluation that would deemed as fair and
it drops down to an oversold condition
so while everyone else would look at
these movements dropping down here and
dropping down here as momentum on the
downside our perspective is like the
smart money we're looking at that as it
going down to an area of a really really
cheap price so if you're terribly afraid
just you know to step in there right
when it breaks below to a new low I
understand that but over time you're
gonna have to you know encounter that
and just move past it or just elect to
go with often trade entry as your your
pattern and there's certainly nothing
wrong with it but if you're wanting to
buy up here and you're always gonna
wrestle with the idea I wish I would
have bought down there this is only
going to occur if you buy at new lows at
a time when it should be creating the
low the week in like I said it's hard to
do that without just getting in here and
desensitizing yourself by practicing it
practicing in a demo account and doing
it live with a demo over and over and
over again to the point where you just
don't care if the outcome is going to be
profitable or not because that's what it
takes to be consistent you're not
worrying about the end result you just
trust the process of what you're doing
eventually over time the sample sizes
are more weighted on the positive side
of what you're expecting to see then
that of the temporary and sometimes you
know unwanted negative results that is
missing the trade or getting stopped out
so this would be the optimal trade entry
again it's on a day that we would look
for to form Wednesday and priced our to
expand we get about above the opening
price preferably we want to see price
show a willingness to want to expand
away from the opening price and not want
to come back down to it now there are
some certain caveats to this and I'll
add this to you just to you'd be a
little bit more splice on this if we
make the low of the week on Monday how
do we know that it trades back above the
opening price okay one Monday and
expands a little bit more okay this
right here we dropped down and went back
above the opening price I don't trust
this because it's Monday and I like to
see the Monday's range okay I want to
see what the money's entire daily ranges
so I don't I don't get the weekly loads
many times actually Isis be fair about
about 90% of the time if the week makes
it slow on Monday I'm missing that
because I elect to sit many times on the
sidelines because I want to use the
range of Monday to give me insights so
on Tuesday I like to get hopefully a
lower low when I'm bullish and then I'll
buy in here okay based on some pattern
or some kind of a key level I teach and
I'll ride that out and hopefully get
back above the opening price now if we
trade above the opening price one say
Tuesday I will permit Wednesday to see
retracement back down the opening price
funds and support and then rally back
away on Wednesday if we're breaking
above the opening price on Wednesday it
cannot it should not come back to
opening price now again in simple terms
Wednesday is de line in the sand if it
trades above the opening price one more
bullish we do not permit it to come back
down to the opening price it can happen
if we go above the opening price on a
new low on Tuesday we could still see it
come back down and retest the opening
price on Wednesday the algorithm will
want to expand away from this opening
price after Wednesday because it only
has newer opens time period to Friday's
closed and that's why you see this
acceleration in the movement on the
weekly range
nealy after wednesday breaks above the
opening price now you're gonna look at
this and I'm gonna be criticized by
folks that don't like what I'm teaching
because they're you know sold one
indicators or whatever else they're
doing or they don't like the fact that
I'm right they're going to say this is
being cherry picked in hindsight
capacity well grant I am hand picking
this in hindsight to show you because
it's already happened anyone teaching
you anything is going to be some level
of hindsight I'm telling you to go
through your charts and you will see
this yourself as many as examples that
you're gonna find you're gonna see
quickly what I'm telling you is the
gospel okay it's just the way it is you
can argue and wrestle with this but if
you trade against this premise you may
understand why you're losing money okay
so once we get through the opening price
on Wednesday and or on Tuesday or Monday
Monday I personally will never get the
low on Monday you know we clean low I
won't get that on Monday you can try to
test that theory and buy down here and
you might get something like this and
this could have kept on going if you're
going to trade on Monday if it trades
back to the opening price my opinion is
is to take some profits there and leave
a stop in so that way if it does not
yeah it protects any open profits but
leave it in there because you might have
statistically studying all the possible
scenarios and weekly protocols that I
teach I elected to simply wait till
Tuesday and that's just the way I do it
obviously I'm not encouraging to follow
me step by step but I'm doing it and
telling you this because I want to be
open about how I do it Tuesday I'm
really actively looking at London open
okay that's really what I'm looking for
so between London open on Tuesday and
some of these opening I'm really not
doing much at all I'm just relaxing and
spending family time I glanced at the
charts but I'm not really trying to
actively pursue anything until around
1:00 and open on Tuesday and if you look
at the weekly ranges on the front
currency pairs you'll see that many times
times
we are in the bullish or bearish these
turning points will form on Tuesdays on
and open but for this example here we're
bullish and we're looking at the opening
price on Sunday you want to see it drop
down it trades down to a level we wait
for it to break a swing high okay this
could have easily formed on Monday and
the retracement could have been
occurring on Tuesday like it is here on
Wednesday and in Tuesday could have
trades to do claim price and we could
still permit it to come back down to
that once a retest of the weekly open
but after that it's not allowed to do it
again if it ever starts to gravitate
back down to that opening price after
Wednesday trading through it it's
probably made a reversal or it's going
to consolidate for the rest of the week
either one's not good for a weekly
expansion now there's going to be times
where we'll trade above the opening
price on the weekly range and not go
very far and just gravity right back to
the opening price and it's going to be a
quiet next week if it's still bullish
the following week would still use the
same criteria okay but the next stage
would be really expecting that expansion
here now this portion of the weekly
range is going to be what you're holding
for an event say until Friday's closed
your mindset should be not trying to
find 10 pips or give me 20 pips okay I
start my week off looking for scenarios
that get me in down below the opening
price because I understand it below the
opening price is the ideal entry point
for all my day trades and my short-term
trading as a short-term to swing trader
you can use that insight using the
weekly ranges and not require yourself
to be anywhere near an hourly or
four-hour chart or anything less than that
that
so there's no reason for folks that
watch my beer my my videos and I'll say
well you know I'm not a day trader I
can't use this information it's
interesting ICT but I just I can't do
that you have no excuse
because of this gave you a bazooka okay
this gave you the ability to go in there
and short-term or sling trade using the
opening price on Sunday okay wait for it
to drop down and simply go in and handle
it now I will toss this out there and
you guys can test this theory on your
own okay if at any time you are bullish
on a weekly range if the opening price
and we
drop down say 30 pips okay if we drop 30
pips from the opening price on Sunday
test this theory out if you're bullish
buy 30 pips below the opening price one
Sunday and use a hundred and 50 pips top
this is for swing traders not short-term
traders okay and let that go and see if
you don't get 150 to 300 pips test that
theory and give me your feedback through
Twitter you try this on any pair really
any kind of market really but for forex
I'm gonna give you that suggestion now
it does not mean that you won't see it
drop down sometimes 50 to 75 pips okay
but generally your stop-loss of 150 pips
after buying below the opening buy 30
pips what you're really doing is you're
saying I don't believe in to go down 180
pips from the opening price if it's
truly bullish we won't spend a whole lot
of time below the opening price and it
won't go that far down below it unless
we are changing long term in a reversal
from a bearish market to a bullish
market then we can see some really wild
reaches below the opening price which I
don't look for those anyway I want to be
looking in a marketplace that's already
in position to be moving it has been
moving for a while longer term and I'm
just getting in positioning myself in a
logical area where the next upside is
clearly an expansion or bullish up close
okay the weekly smart money view or
bearish conditions okay you can see here
we have the same thing dis reversed
we're looking for the weekly high to
form between Sunday and Wednesday high
odds between Wednesday's New York open 7
a.m. from Sunday's opening that's what
we're looking for but the odds further
increase again between Tuesdays and
Wednesdays trading specifically focusing
on Tuesday's long and open to
Wednesday's New York open ok so we're
looking at the weekly range here for
this particular currency this happens to
be a dollar cad and you can see how
price didn't
I have a up movement on Monday and then
we had another movement up on Tuesday
creating the high of the week during the
London session or what we were looking
for for the scenario overall we
anticipate a bearish week ahead of the
open once that opening price is derived
on Sunday we extend that through the
entire week until Friday's close
movements above the opening price we
anticipate that we want to see price go
to a level that would push price into a
technically overbought condition there
is no overbought indicator on my chart
I'm reading price action the fact that
we're trading above the opening price in
an market environment that's bearish
longer-term that's what frames my idea
over highly weak forms on Tuesday
Wednesday we barely have any type of
movement whatsoever we still have a
little blip on the radar as price runs
it back above that opening price and
then quickly rejects notice that once it
leaves that opening price on Wednesday
it doesn't try to go back to it now it
does retrace here but it's not getting
close to it if it does it's going to be
a mixed week we don't want to be a part
of that okay and ultimately price comes
down sales this old low and let me see a
reversal that's outside the scope or the
focus the point we're looking for is we
want to be when we're bearish we're
looking to sell short one or at very
close to the weekly high in riding that
down to some measure of expansion below
the weekly opening price so in terms of
the weekly range or weekly candle what
we're looking at is the opening price
here then we're seeing the Judas swing
this is the portion of price action that
we're anticipating we anticipate this
type of price action and we want to have
a level in mind before it starts to even
trade up where we're wanting to sell
short in this example
a real good example would be we have a
high here and a Monday's high so we have
relatively equalized price stabs above
this you could be a seller here and I
did in fact take this trade and I shared
it on Twitter you guys can see that go
through my Twitter feed look at the date
for around November 21st 22nd I would
have shown the example and I my entry
points and everything's in there so
short with the expectation that there's
going to be a sell-off on the dollar cad
price sells off goes below the opening
price now remember what I said as long
as it is before Wednesday's New York
open its permissible see price trade
back to in this case above the opening
price because on Wednesday that's when
it should leave the gate once it starts
leaving that opening price it's going to
expand to reach for some measure of
price action that creates the movement
below the open price so the range
expansion portion of the weekly range
that's what you're holding for but you
want to be positioned up here while
price is going up when it's long term
bearish it feels scary it feels odd it
feels out of place because you're
watching price shoot up like this and
every retail minded trader out there and
every person that's on Twitter and
Facebook they're gonna be looking at
this thing saying it's going to the moon
and it's not it's a southbound train
once this thing leaves the station which
is the opening price on Wednesdays new
york open draw that line on your chart
once that occurs it should always try to
expand away from the opening price you
should have a predetermined level where
you're going to be getting out at inside
of this expansion okay in this case we
have relatively equal lows here we have
a low here we have a low here so if we
go about 10 to 20 cuts below that that
would give us around 26 95 and that's 26
95 right here that gives us to this
price point here it goes a little bit
lower but then author link comes back
with a deep retracement and then closes
end of the week giving us the weekly
candle or range profile like
the ideal scenario is to look for a cell
above the opening price as a day trader
you could be focusing in on that and or
as a short-term trader or swing trader
you can use the weekly candle or weekly
range to trade entirely off of that and
not even look at an intraday chart not
even a daily chart you can take these
types of trades and again look for that
same scenario waiting for it to trade
about 30 pips above the opening price
okay in this case here we opened around
here we can go up 10 20 30 pips so you
could be a seller around 2005 and a stop
loss of 150 points or pips okay and try
to get 150 to 300 pips profit from them
by selling at 120 805 or thereabouts
price goes all the way down to a low of
approximately 26 75 I gave you this
example to see and show you how even
using the objective of 150 pips - 300
pips you may not get that actually in
your profit which is why I teach to take
partial profits so if we sold short
hypothetically at 120 805 or whatever 30
pips would be above that opening price
if we sold there with the expectation
that we're gonna try to capture a
hundred fifty pips or more as soon as
you made a hundred pips why wouldn't you
want to bank they're seeing that we're
probably only gonna make about 130 pips
on this move on your pip movement
anytime your moves ever traded a hundred
pip intervals you have to take something
off learn to do that if you do not do
that I promise you you will look back
and regret not having done so so as a
day trader you know obviously if it
moves on our pips you certainly when we
banking 80% of your position and if
you're a short-term trader you want to
be at least half your position out
because the weekly can change gears
midweek for instance it could have went
down to this low here and in trading on
to Tuesday high those occurrences can
happen so if it's offered up a hundred
take something off at 100 pips
regardless of what style or what type of
integral up trader you are if it gives
you a hundred pips pay yourself on those
hundred pips even if it's one tenth of
your position overall do it because it
number one it'll feel good to do so
it'll pay you for your time and the risk
that you put in and it teaches you the
value of doing overtime the folks that
say that partial profits are stupid or
idiotic you shouldn't do it because the
full risk was what it was the beginning
the risk is going to change preferably
it's gonna reduce over the life of the
trade anyway but that same initial risk
does not guarantee full profit the
assumptions that use just because you
put a specific number of risk percentage
on at the beginning trade and it's
stupid to take partial profits because
you risk this much but you don't how
many times have your trades gone to full
profit how many times have you failed to
take something off if you just would
have taken something before it turned
back on you that's what I've been doing
for 25 years folks okay 25 years I seen
enough of this to no partial pays okay
it pays you have to give yourself the
ability to take something out because
the market is not going to do it for you
you have to take it out so if you're
gonna be a short-term or swing trader
you want to use that weekly range like
this if we expand a hundred pips we're
looking for 150 to 300 pips for the week
you're not always gonna get 300 pips but
preferably if we're bearish in this case
we want to see hopefully a big weekly
range remember this small range big
range going on well if we're starting to
see small weekly ranges right ahead of
this and we're still bearish if we get
this scenario here we can do very very
well you can see those big 300 sometimes
even 500 pip ranges on a weekly
especially if it's gonna be a lot of
news a lot of things that are happening
you know economic calendar it can be
extremely volatile and it creates a
large range on the weekly so the model
is we look for if you're a short-term
swing trader
that can't be in the intraday stuff you
can sell short above the opening price
about 30 pips now you can fancy dance
that you can say well I'm gonna be a
seller at 40 pips above the opening
price a rockin if it trades up 50 pips
above the opening price I could be a
seller there okay and look for 150 pips
to 300 pips again with the expectation
you're not always going to get 300 pips
but if it allows you to make a hundred
pips when you take your first partial
off and put your stop at breakeven
you're in a beautiful position because
if you take say hey if your position off
at 100 pips could you stop at breakeven
and then see if it gives you any more
movement for the rest of the week
once the examples come by looking at
Pine site data and seeing what's
available you will quickly see whether
this is for you or not I'm not trying to
twist your arm I'm just giving those
individuals that don't have the ability
to sit in here every single day watching
intraday price action a way they use
this information on a higher time frame
you know allow them to participate now
if you are able to look at the market
Tuesday or Wednesday and you only have
to do it on those days around Tuesday's
run and open and Wednesdays London open
if you watch those specific time points
you can look at specific levels in price
action that I teach in my tutorials and
go into great detail with the mentorship
you can sell at a more favorable entry
point and you won't have to just say
okay well here's the opening price on
Sunday I'm going to take a set number of
pips above the opening price all the
time and sell short there when I'm
bearish you can avoid that okay and you
can say okay well I'd say open here okay
I'm gonna watch and see what Monday does
Monday's dilly-dallying around create
some Monday high here and we start
trading here we start to drop down ahead
up one then we're not interested in that
we're looking for this high in this high
here double tops okay what's gonna be
resting above that buy stops so if you
know that going ahead of Tuesday's on an
open you could just simply do a sell
limit order right above the high on
Friday or a high on Monday and then you
can really reduce the
amount of exposure you have and then
still have that same 100 keep it profit
objective hopefully they enjoyed this
presentation if you like these lessons
and you want to find out more you can
visit my website at the inner circle trader.com
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