Transcript
Price Action Training Video for ES Emini or MES Micros Futures Traders
okay Jackie so this is a perfect time if anyone has any questions I know Jackie has a question about um gaps voids that type of thing go ahead Jackie yes so I have a question about uh gaps in price um so we’ve had a few gaps in pricing lately and I just want to know um I know that price action is attracted to it um but does it equate to it being more so like a magnet or a bounce um and does the daily candle have to close it all the way as in like it has to cover the entire Gap or does it has to just Wick it okay so all gaps first of all can you you can see my rectangle correct correct okay um uh let me turn off where turn where automatically turns off change my preferences where it doesn’t automatically race all right so here we go so picture this as any Gap picture this as as any void where price it’s still a gap um and it’s a volume and balance do do we all know what the volume and balance is when I say the word volume and balance yeah anyone not there’s one right here actually so price is going to be attractive to filling it price wants to paint every price it wants to paint every price twice okay so when there is a gap it either didn’t touch that price at all or it only went through that price one time and started going up again price is it’s like a magnet price is definitely attracted to sometimes it’ll come to the edge of this inefficiency is really the best way fair value GapFair Value Gap (FVG)A gap in price where there's an imbalance between buyers and sellers. Think of it as a zone price blew through so fast that it left a "hole" on the chart. Full entry → is an inefficiency um volume and balance is an inefficiency sometimes it’ll bounce off the top sometimes it’ll come to 50% and bounce and sometimes it’ll come all the way and finish and bounce it’s like a um an obsessive compulsive person that needs to open and close a door twice I don’t know how else to explain it and it wants to come back here and it will come back here and that’s why most of these candles you’ll see it paints both both prices and then continues its journey and when it moves rapidly leaving that void it wants to come back the same thing is true with Wicks um so that’s why yesterday in this trade here we had this big thre minute Wick and um I treated that as like a fair value Gap and I traded the 50% um notice how basically not perfectly I mean it’s just a wick but in this case basically The Edge the middle the top so I use these when let’s say we have a I’m G to have to probably draw it instead of go find it um let me think about what I want to say let’s say I have a fair value Gap my backside level happens to be here requiring it to come into the fair value Gap well I know many times price will just come to the edge of this and bounce okay it just does we see it all the time sometimes it’ll come to the 50% and bounce sometimes it comes all the way and balances so if I’ve got to play this zone I’m going to place my order in front of the fair value Gap and then I might Place one at 50% and then I might have the remainer of my allotment at the filling of the fair value Gap especially if I am with the trend that’s really important with the trend um so that’s something I see often that helps me get into a trade and the zones that I will play um so let’s take a peek at this area here um let me zoom in where you can see this better so we’ve got this backside here it is in a fair value Gap um this is trending there’s a fair value Gap here as well whoops there’s a fair value Gap here as well so I got a backside and a fair value Gap and I got a front side and a fair value Gap what a perfect place to spread those orders I think that’s where Jackie actually went long or may I don’t know maybe it was down here actually yeah Jackie actually went long yeah was down there but here’s another example backside it is in a fair value Gap in a volume inbalance anywhere in there it’s going to touch and go in this case all it did was finish the fair value Gap left the volume inbalance so for us as price action analyst we know that’s bullish it left that inefficiency and kept going it filled the fair value Gap so here’s the backside and a fair value Gap um the fair value Gap finishes there and it took it all now at this point it seems like we’re we would be with the trend and in fact I would call that a with the trend trade um and you could choose any of your entries within that zone so whenever you see those fair value gaps know that you could trade depend on how aggressive you want to be the edge the top the middle the bottom um because you’ll see in many cases and maybe who knows maybe we’ll see it today it bounces off each of those locations that the trend is so strong that it doesn’t even get to the fair value Gap and bounces boy you really want to be in that trade I’m okay with that so I’ll front run a fair value Gap when needed now let’s go to the daily chart and there’s tons of them so the most notable the most notable um for the volume in balance is here right that is the most noticeable let’s zoom in more volume and balance and pretty interesting interestingly enough it went to 50% on this on this one so when they even reach back down they are still valid till price goes back through it is how ICT says it um until price goes back through it it’s still valid as an area for price to react does that make sense so it’s just a little inefficiency there okay any question about trading this week or anything like that that you might want to discuss I don’t know if there’s a day this week we would want to replay it was just it was one of the lowest probability weeks lowest number of setups ever um and of course you’re going to get those I guess right I mean in grand scheme of things any questions okay then let’s does anyone have a day that you wanted to be reviewed as hey would you go review this day okay let me go into the three minute chart I want to look for that day that had the [Music] loser some reason I thought somebody was going to bring me a day I don’t know why I thought that all right which day was this January 24th so let’s go to January 24th January oh it was the next day from that’s funny the calendar was it was on the last day we did together okay so let’s pull this in and let’s move the replay to here all right so let’s uh get some context of where we’re at huh Gap up so this is on when you’re looking at your sessions in fact let me switch to this scene so you can see it bigger um that’s a gap from here to wherever we’re going to open up here that’s a gap it will uh certainly be a level you would want marked so just for full just so if you drop me on the chart here what would I do I’m going to mark all right magnet tool you’re killing me I’m gonna turn you off I’m just GNA be close so to set up for our day we’re going to call this R High um come in here and Mark this low then I’d come in here and Mark this somewhere about the halfback looks pretty perfect to me me good enough half actually it’s not good enough let’s do this like I look like I was off that makes it easy all right so there’s the halfback and then we’d add this London overnight low we’d have this high and I’m just out of curiosity where’s the halfback overnight halfth those are really the levels that our indicators would give us going into the day for us to Mark out let’s move you over a little bit somewhere in here any questions on those markings and that’s the Gap up man definitely a big magnet if you make me put the biggest magnets on here how do we not choose this as the biggest magnet for sure um we’re going up the trend is obviously up I would have on my chart longer flat is the play What Would I be looking for um can we do a liquidity grab come back in um break-in trade will it come all the way down to here I’d be less likely to want to play this Breakin trade why because it’s so close to this big to filling the Gap right but I would still watch it and if it proved me to bounce what do we do we drop in time frames 1 minute 30 seconds whatever look for evidence of laddering up and get on board because the dominant trend is this way where’s my short I don’t know do you does this look like an an area you want to be shorting in as you’re going into your day no uh so where would be my short I’d probably say I would want to get under here don’t respect this don’t respect this and then get into this range and I would be targeting halfback um yeah um that would be tough shorts here would be tough shorts would be counter all right so let’s zoom in I think we got a good idea where we’re at let’s zoom in boom boom boom um and I have a question about the stream is the quality of the stream any different doing it the way I’m doing it as far as your Clarity and all that or is it good it’s okay I assume somebody would have said something if it was Fuzzy or whatnot okay so here we are um we got this overnight High we’ve got this um you kind of got this little thing here let’s make sure we’re first of all Let’s uh let me go Candle by candle here where’s my here we go that’s probably the opening is that the opening I don’t know okay so as this is developing we’re constantly asking what are we leaving behind what are we leaving behind I’ve got this I don’t know why I made that green we got that behind we got the overnight behind now price came back up here and you wanted to take this short you’d have the overnight high as a backup so now things have said okay if you were interested in a short at least you have a backup um this was an obvious backside back here but it already bounced in the overnight does that make sense so but that was a level that you’d want to pay attention to we obviously shot straight up that’s a level you’d want to pay attention to um that’s a level you’d want to pay attention to remember these are overnight levels they’re not as strong in in my opinion but they are there um so back to the candle replay you could take that as a long um you wouldn’t have a break level backup as we said you could have this as a backup and you might say you know what I don’t want to trade uh a long up here over the overnight High because you’re going long in the upper distribution of the day but you are lading up you could always do that small that was an obvious touch and go um which you would have to expect with such a strong Trend we’re gapping up with continual lading up we haven’t taken one break level back haven’t taken one break level back that is strong um it’s the greediest part of this uprise so not a bad long but now that’s touched and bounced we remove it all right candle replay oh you better have been quick on that now what are you seeing here what did it leave behind right there it left behind a volume imbalanceImbalanceWhen there's significantly more buying than selling (or vice versa) at a price level. This creates pressure. Persistent imbalance in one direction? Full entry → actually um very interesting so we’d still be saying okay I want to see will it grab this liquidity and come back in because it’s trend is strong um I’d love to look for a long it makes sense that it wants to come and grab some liquidity before it continues its Journey that makes sense to me um let’s see what happens it left nothing behind up here for me to Mark I do want to point out not that I would have taken it but there was a front side bounce there a’t that interesting missed it all right you don’t you don’t see everything you try candle replay all right come into this level now after um it leaving that volume inbalance look at that that candle went and took it all huh it left it for just a second and then went and took it all back all right this is wild are we getting AO candles I’m just curious I haven’t turned that on um large candles it doesn’t look like any of those are eighto candles interesting okay boy really being tough here this level now let’s count that is that within three ticks yep I now consider that level tested I’m no longer interested in that level so I would go ahead and actually remove it it had its bounce boom okay right here we’d say let’s drop in time frames and see if uh we can start getting some lading up I think it’ll let’s see if it gives me one point candles if not I’ll have to come back to it hey one point I’m not going to try to go lower I bet I can’t have 30 seconds as far back so we’re looking for a Breakin trade here why because the dominant trend is up the dominant trend is up we don’t just automatically go long here you could you could just have a a resting order right there at the overnight low or just behind the overnight low because when you do when you go back and do a little bit of your research here you’ll see this dip here that this would make sense as a as a beautiful Target if you were looking for where could my greedier entry be it’s this ladder point and you see this volume little volume inbalance right here do you see that guys do I need to zoom in right here here it left a little volume in balance on top of it scroll back over that looks pretty on the money makes sense so from here if you wanted to take the overnight low if you looked a little further back and said I want to be greedier here um you could have been as greedy as down here um with a very small stop you know put it two points behind it and go hey I’ll take a two point stopper I’ll even do it small as a test entry then if it starts lading I’ll add all right let’s continue boom ouch so quick on your money management you wouldn’t have gotten hurt um if you wanted to wait for the ladder you’re like I’m glad I waited for the ladder if you took that as a test entry um you would have been small how much did that go up yeah two points I never allow that to become a loser I would have been out all right let’s see what’s going to happen here okay now we’re getting evidence of lading back up with a fair value Gap and a volume imbalance so now I’m looking okay I need to get long now I’m still on a one minute chart here because I was still looking to see if we got evidence of lading up pushed a little bit lower then strong fair value Gap candle back up volume inbalance candle back up leaving this front side here um I’m just going to remove that and I’m going to put that there all right let’s go now see is there anything on a three minute that I needed to Mark nothing no two candle clearance there’s nothing to Mark nothing to Mark nothing to Mark so we’re on a one minute looking for evidence of lading up if you wanted to be aggressive you go long right in if it comes back in you could go aggress you can go long against this volume and balance or if you want to be a little greeder this front side if that’s what’s going to happen or you wait for more lading evidence of lading because that th either of those would be a first ladder entry which are the more dangerous ones but you got to admit that came in with a Vengeance okay now I’m getting on a one minute chart I’m getting so here I’d probably have my order one tick or two ticks above the volume in Balance here is where I would have my order probably 13 is where I would have my order small I would be in the trade and there you’re smiling notice it finished it it did finish that volume in balance and just a little bit more so that’s where I would have went long looking for the evidence of that now we got a volume in balance and we got fair value gapping can candles going in our Direction um so yeah you do have a protection layer at this time you could come in here and say I’ve got this front side whoops I got to hit my drawing tool front side some bit of a backside right now and a volume imbalance so now you’re managing your trade long come on okay there’s your protection layer bouncing that could be an ad if you so wanted to add um that would have probably gotten me out of my ad because I would manage that one separately it didn’t keep going it came up and came back so I’d probably be out of my add-on and just going oh well it happens okay so since we’re managing the trade on a one minute here what do we have we now have this break level so I’m going to go here I got that my stop would be behind the break level now I’d be out of my add-on that’s just me personally um you still might be in it and I would be behind here um or because that was a backside that now’s become a break level if you wanted to follow it 50% you could if you’re trying to go for a bigger move you you stay back all right so we’re still in this long I’m going to put this here because if we were fing at 50% where would your out be this line very nice you’d expect it to bounce off here if you were not in a trade and you wanted to go short here you could but it grabbed a liquidity and now we’re laddering back up in a strong Trend do you want to take that short you could because you do have a backup um but it’s the harder way to make money you’d be like crap why didn’t I go long down here that was a perfect position to go long there took that you’re long you’re smiling if you took a short you took the gift to break even um you certainly aren’t adding to a short here I mean if you’re long you are smiling smiling smiling we are throwing on a trend line here now we obviously got something going on and you’re hoping it breaks out to the north not that it will so at this point if I was in this trade my stop is not way down here now it’s entered an area of high risk that this might be a liquidity grab come back in you could either take your profit right here and be done I’m out I I traded the entire rthRTH (Regular Trading Hours)9:30 AM to 4:00 PM Eastern Time. This is when the big money is active. Higher volume, tighter spreads, more reliable price action. Full entry → range I was was long the whole range life is pretty good I don’t blame you if you took your profit there or you locking your 10p pointer right here that’d probably be me I’d go up I’m G lock in my 10p point if it keeps going great if it comes back and gets me oh well because I do have a front side here um that’s how I would personally do it I’d probably just said at 10 points go crap I hate that it’s at the line and not behind it but that’s okay that’s how I would manage that let’s go candle okay come on come on boom you’re a happy boy by the way this is not the day I thought I was bringing up it’s a completely different day so it doesn’t matter um we we we will play it just the way it is so now you’re really happy um let’s go to a three minute chart are we leaving anything behind on a thre minute chart well this overnight high is now becoming a backside in a fair value Gap this is becoming a middle backside boy did that play out nicely let’s measure from our entry you’re almost at 20 I’d still have my stop at 10 points which is back under getting back into range that makes sense to me and um if you’re wanting to be the most aggressive on these big candles like this they often retrace 50% of the candle and if you want to be you can be just behind the 50% of that candle if you wanted to be in this case I say play chess the dominant trend is up you played this perfectly and now we’re going to stay in it boom so if you you done the 50% you’d be out if you have your stop at the 10 points you’re still in and you’re going o out nice nice trade though right you got in right you followed right you locked in your 10-pointer price should have done what bounced off the overnight high but did we get two candle clearance here’s another reason I have that rule no two candle clearance that’s not an entry long you could have done it um you could have you could have used this backup you could have used Trend there was this one minute front side you had a few things in here if you decided you want to go long but you’d also look back and go okay it didn’t have two candle clearance I know it was a little more high risk um and if you’re seeing that hey this trade is is high risk you know just deleverage it a little bit it’s okay I wouldn’t blame anyone for wanting to be in this long right here no one all right let’s see what happens next but you’d be out of of your 10-pointer here and then you reset take you a break you might even be done for the day you’re like okay that’s it I’m out great trade let’s move on boy came back to that one minute front side would you look at that now if you took this long here or anywhere in here or spreaded your orders I would now be managing for Break Even trade if it keeps going great if it comes back oh well I’m out right there I’d be out gift of break even the gift of break even the gift of drawing your levels correctly the gift of making sure you had bounce levels behind you and knowing I would rather take a break even trade than if this thing’s going to come back in I don’t know what it’s going to do I’d rather just be out it broke the this this parabolic trend line then some way you can say all right I’ll reset it out here it makes sense why not so now I got to get rid of this get rid of this um this was on a one minute I would bring this up here now as a break level overnight High I don’t need that there now I would slide it out of the way do I have anything left on a three minute nothing that I’m that excited about nothing actually nothing on a three minute let’s delete those delete those we adapted this trend line once just to go over that one more time so we had it here on the one minute and now we’ve adapted it once I don’t typically like to adapt it more than once personally um candle replay okay first closure second closure this is broken remove it you’re now in the middle of the range pck is probably right here as well um you’re in New York lunch so if you played this perfectly you had a 10-pointer you’re done maybe come back in the afternoon and now you are down here in this um I did forget to mark one thing this became a break level as it was going back up I was so managing the other thing but that became a break level because you had two candle clearance and it came back that’s your break level this is your break level range um and you have to play the whole range if you play the body that you’re playing the earliest possible um and then if you played the wick depends on how you played that you you were given the gift of Break Even or you made money um if you enter two ticks in front of this let’s let’s let’s play that scenario for a second let’s go back to one minute what was the biggest bounce you had oops wrong tool what’s the biggest bounce you had biggest bounce you had was three ticks and then it went you were down two points and it came up three ticks then you were down one point wiggle wiggle wiggle this is where I would tell you I don’t do wiggle wiggle Wiggles I just exit I’m out boom done because it didn’t bounce did it it didn’t bounce so I would be out wiggle wiggle wiggle take the gift to break even be done don’t need it but you were given that multiple times plus three Texs minus a point plus three Tak minus a point I’m out um plus it came back in range didn’t it it’s not like that was happening up here and you’re like okay man we’re really with the trend no it’s retraced back into the range it’s retraced back into the range and you’re going long in the upper distribution of the range that’s a tough place to do it you can do it but just play it smart I don’t know why those drawings stay on the chart longer doing the system this way I have to monitor it make sure I remove them but that would be a legit break level now this becomes a legit break level you’re back in the middle of the range I would need new levels now I want to see something new happen all right let’s play it I don’t have anything now would you want to take this short if you did take this short where’s your backup level your backup level is here two points above that’s eight points that’s more of a stop lossStop LossYour "uncle point"—the price where you admit you were wrong and exit. ALWAYS use stops. Always. No stop = eventual account blow-up. Full entry → than I’m interested in and I am total counter the dominant Trend I mean it tried to get down here and it blasted up it’s now retraced half the range do I want to take this short I would say no it’s on my chart but I would say no I don’t know what it’s going to do but I would say no okay did you a little bounce wiggle wiggle wiggle take the gift to break even during lunch counter not in love this would need to stay on my chart because now it’s tested so this did not become a new break level don’t make that mistake it is still part of this break level and to be thorough you add the words tested okay all right here we go oh this is just shoot me in the head price action do you want to take this short when the dominant trend is North you can it would just be a small stop loss the last time price got up here it was pushed down like a bandit you could and I don’t know if there’s any higher time frame levels up here I don’t know any of that but just judging off rth three minute chart end of day that would be a no thank you trade in my opinion is this within three ticks yet no three ticks is there so fair value Gap candle up a little pullback pushing up that’s a tough trade to want to take I’m going to choose no right there it made the three ticks it’s now tested it actually saved you from wanting to take that short now because it’s tested there’s no way you would have front ran that by a point so test tested you’re not in the trade um so I would still be happy I’m like yeah I shouldn’t take that trade so the three tick now this is now what tested where’s my next long well if this thing popped up here and came here I would probably take it where would be my next short we got to get under this I’m telling you dominant Trend the price action we’re seeing here the Bulls are winning we gapped up we’ve stayed up all we did was take the liquidity in the London low and we’re running up no shorts the play is long or flat the play is long or flat okay still a tested level it’s got nothing boy they can’t seem to make a new high though still evidence of lading up here all right so at this point I would be looking for two candle clearance and come back I got to take that long I got to take that long I need two candle clearance though it’s a little muddy At This Moment Like H didn’t give me two candle clearance saved me another core strategy rule saving you from an entry what is this turning into a liquidity grab come back in a liquidity grab come back in now would’ you leave behind and I forgot them as we were going up I I’m just so focused on the going up but look where it came back to and bounced is that not cool this fair value Gap front side now what I would tell you about this trade what’s your backup level nothing really it’s just a level by itself in and in inefficiency the fair value Gap we are lading up you are with dominant Trend you are above the overnight if you took that just have a small stop loss underneath it and it’s just a paper cut loss it’s not the highest probability trade on the board but it is with the trend we did just just make a new high so if you take it take it small but notice how it fills this inefficiency like perfectly I did not mean to draw that candle replay and you take you would have taken your gift of break even there remember this is tested there’s nothing here there was no backup levels to to this front side at this point wouldn’t you be saying I’m glad I stopped trading on my 10-pointer I took my winnings I had an amazing trade be done this would be wearing you out for the afternoon trades this would be wearing you out for the next day you already made your kill you know what I mean you already made your kill all right let’s keep going are those boxes still on your screen I would assume they are because they’re actually not on mine but I’m looking on the little monitor it looks like the boxes are still on your screen could you confirm that okay so I need to make sure I monitor that and remove them okay I’ll see if I can figure that little problem out um all right so let’s keep going candle replay so one of the things I’m doing here at this moment I just did it and I need to bring it to your attention I scanned over here and I went are there any inefficiencies over here I should be aware of are there any levels over here I need to be aware of and why am I doing that because the trend is still north is there something I missed so in my head I did that and I’m like I need to stop and voice that out loud and now I’m going to change this back to where they automatically erase in five seconds that way I don’t have to manage it okay so here we go candle replay what did we leave behind always got to ask that question what did we leave behind you got a tested this you could say well there’s a front side and a fair value Gap here yeah but that’s not a new break level so once again this is a level just by itself at the edge of an inefficiency what do you have here I have a middle backside at the edge of an inefficiency okay H if this thing came back up would you be interested in a short I would probably do it knowing me um and the reason why is the Bulls are not being able to get it on we had a very Swift move back down it left this inefficiency up here yeah I’d probably take that um I’d probably take it at the body here or just in front of it I’ve got the backup level within three points a new highs within four points I’d probably take it in the middle okay not bad I would know it’s counter for me I would just do one test contract and if I’m right great I’ll look for opportunities to add all right where’s my long down here I don’t have one we’re back to the middle of the range I guarantee you that’s where Pock is now you’d be looking at six points above and below um as I that’s what I’d probably say now I’m looking for us to trade those edges so I might be as greedy as say would I want to trade so my two my debate do I want to trade this level or would I want to trade that level that would be my debate based off the six points from pck let’s just measure from here where is six points that’s got to be pck right oh so six points is right here okay yeah I would trade this one um let’s do candle replay now what’s happening leaving fair value gaps on a move South but it’s only in the middle of the range it’s not that you can’t get that excited um I would still have my arrow pointing up I’d still be saying the play is longer flat we still have not laded under a session low um I think that’s an important thing we really haven’t even taken out this break level have we no we haven’t even yeah still haven’t taken out that darn break level now here’s what I’m thinking was this a a liquidity grab off this lunchtime low and we’re going to start lading back up this lunch time low here you’ve got to see the like this is the art this is the morning low this is like a lunchtime low these are two areas where price is going to gravitate to to grab liquidity if it wants to keep going north so at this point you’d have to say Okay it can’t get under this level I think it might have just did a liquidity grab from the lunchtime low I need to be looking for evidence of lading up so what I’m going to do is I’m gon to switch to a one minute let’s just see what happens give me some evidence here what time are we okay we’re here in the afternoon here this SP when I would be trading let you go okay okay I got this inefficiency here um a little bit of a I know this is weak but if I’m looking for a long I got that I got that I would like it to um come back and get me in here with an exit Target here most likely does that make sense um so we’ll see all right we’ll see I really don’t know what it’s going to do these are low time frames um small test contract I would be in right there and boom let’s see gift a break even gift a break even I’m out and I say I tried I tried and I did it small why would I do it small it’s off a one minute level with the hopes this a liquidity grab this is the highest risk long why it’s the would it would have been the first ladder you didn’t get it it would have been the first ladder I know it’s the highest risk but dominant Trend seemed like a possible liquidity grab if you’re going to wait for the second ladder up you would not have taken it if you took it on as the first ladder you were given the gift of break even take it my humble opinion low time frame stuff there let’s see what happens now let’s say it comes back up well I might be looking for something again it’s okay boy noticed the morning was an easy trade and the freaking rest of the day is not easy it’s just not easy you insist on trading all day long every day one day you’ll you will not do that anymore you’ll you’ll at least divide it morning and afternoon all right so what did we leave behind well now I would say we we broke this break level finally um I’d probably call that a break level I would call this a front side and a fair value Gap look at this slop and chop you got one 10 pointer off of it break even break even break even break even all right we’re almost ending the end of the day there looks like vomiting back down all right so like I said when where would I be interested in a short it’ be underneath there attacking this and at this point you’d look and go ah there was no entries there were no entries You did leave this backside here it appears to be in a fair value Gap I’d have to zoom in a little closer now imagine someone going long up here we’re breaking out we’re breaking out and you don’t play that correctly it comes in and you add up we’re going up it crashes you I’m going to add that’s why you don’t do that this is a perfect example of you just get out if it doesn’t touch and go you you take the gift of Break Even you look for opportunities to take a half loss you don’t get locked into hey we’re going north north north north north north north it has to go up it has to go up well this is showing that It reversed and if you just followed the rules you saved if you were we’re going north you’re crushed here you ruined a day you ruined a week you ruined a month you blew an account and you’re just out and at this point you got to say things have changed but they haven’t really changed till this candle this is just retracing the day and very well we could have a white candle here and it ladders back up right so what do we need to see here I potentially have a backside here oops I hit the wrong thing I potentially have a backside there and a fair value Gap do I have that any longer maybe actually no it is a backside but it’s not in a fair value Gap anymore another reason you don’t go short right there you don’t go short on Big Blue candles you have to wait for a level do you have two candle clearance to go short here no if you wanted to do a cotton entryCotton EntryAn aggressive entry that doesn't have the standard "two-candle clearance" confirmation. It's riskier and requires you to be confident you're with the trend. Full entry → could you yeah because at least you went short on a white candle and your out would be above back inside of um the IB range I mean inside of the overnight rangeOvernight RangeThe high and low established during the Globex session before RTH opens. Breaking out of this range during RTH? That's often your first trade opportunity of the day. Full entry → I could say yeah you could do that as a cotton short hey I just want I’m looking to be in this we’re obviously vomiting down we’re leaving behind fair value gaps we’re leaving behind untested backsides I want to be in it it did not grab this Asia overnight low had this grabbed the Asia overnight low and come back in should you take that short probably not but we had this Asia overnight low we have yesterday’s high it wants to come here I don’t know if it will but it wants to high probability trade in the last half hour of trading I think that’s the last half hour no maybe it’s longer I should have marked it when does what time does it end it’s 3:00 this time so it’s 4:00 that time which is600 all right so we still got more time that’s the end of the day I’m g mark that red so you could take that you still got time it’s gapping I don’t know what it’s going to do you do have two magnets here and you do have an obvious out when it gets back into the overnight range in my opinion now what did it leave behind it left behind this break level at the wick and the body with obvious magnets below us I would take this but I’ll be honest I I would almost feel like I’m G to take my stop I would take this 10 points I had here and say okay how much of that would I be willing to gamble on this one You’ better be willing to gamble half of it but you do have some backup levels but they’re a little high they’re a little high and you might say nope that is not a two candle clearance I’m sticking to my rules and I’d go you’re smarter than me see what happens you got a touch and go then it came back I would have been out for break even that’s just me now I would remove this level it’s it’s no longer a level come back up boom followed your rules another Break Even how many of those in a row before you say this just ain’t working why is it not working here’s the reason it’s not working it’s not a trend day it’s chopping back and forth back and forth you will have a lot of break evens you will have a lot of one tickers you will have a lot of tickers me look what es did it took out this Asia low made a new high grabbed that liquidity there now it’s grabbed this liquidity there it’s coming back into the range what does it do on chop days takes liquidity north and south and these are very dangerous shorts on on chop days very dangerous you’re going short in the bottom of the range very tough I need to see a clear back backs side I need to see clear leaving fair value gaps I need to see something really strong the safer trade here let’s just talk about it for a second the safer trade here oops let me I grabbed the wrong tool the safer trade here is it came down this was a backside two candle clearance then it touched it and bounced and then it gave me another one for a second ladder under this low this might be nothing more than just a beautiful liquidity grab come back in ladder you have to expect that on these things here so when it takes out that low the very first short is very risky especially on chop days who knows this might go Trend and it’s beautiful and you’re like man it was awesome that’s why you do it small though one man’s opinion that’s why I would do it small if I was going to if I said every trade has to have same leverage well you better require two candle clearance all right so now it’s coming to these backsides will they respect them that’s what I’m looking for am I taking this short no I am not why because this short should have worked why am I doubling up here my opinion if I really wanted to be short I would allow it to bounce come back in and give me something give me something if there’s enough room to give me something for these magnets because these are still the two magnets this is the magnet we drew at the beginning of the day that’s the biggest magnet um all right candle replay let’s see what happens do they respect them barely barely if you’d have been in the greediest part of that you’d have been okay if you’d have been early I would have taken the gift of Break Even chop chop chop my goodness and when we were up here hold on when we were up here what’s the question you have to ask what did we leave behind a muddy front side um and a muddy backside muddy front side muddy backside um let me remove those drawings sorry muddy front side muddy backside is there anything else in here I’m missing no fair value Gap this is a little fair value Gap price came back down in here I would probably go off the base okay so always ask what did we leave behind and let’s just see where it bounced here this is why our system works it bounces off our levels beautifully they do that doesn’t mean they’re going to bounce off our levels and the manner in which we need them to bounce to keep us in the trade so had you taken this it went up it went against you take the gift to break even if you went long here you probably uh did nicely on it you you kept a runner back and it got you out beautiful that’s what our system does same thing up here if you went short here it went against you gave you the gift to break even you’re out if you went a little greedier you were probably fine and did well and have to know hey price is probably going to bounce back in my face right here and it did man that’s a beautiful illustration of what our system does there all right I am on a three minute candle replay now you’re going to go that turkey that turkey ah I missed another marking I get so excited what marking did I miss oh once again what was left behind with nothing yet candle replay now I got two candle clearance to what a front side and a break level right so definitely two candle clearance now you do have this little fair value Gap right here in front of it if you really wanted to be short I’m just going to make that white as a I’m gonna get rid of this London overnight low we won’t um you could you got two candle clearance there so it’s up to you went all the way to the front side that’s a tough trade to take but if you want it to be short I mean that’s a legit level we have two candle clearance you have a fair value Gap you have a backup level that’s a trade if you wanted it but now these are deleted delete delete delete and candle replay there it goes and grabs that Asia low what’s it going to do what did it leave behind got to keep telling myself that we do have a backside and a fair value Gap what do we want to caveat this with it just grabbed this low we still do have one more magnet for sure below us um if you wanted to take this short um boy that’s a big you’d have to mark these things like that I would go off the body um so now how interested are you in going short maybe a whole lot maybe like hey I’m GNA enter short off this Wick backup level here and I’m going to get out right there I’ll take it small for it to fill this this um the this Gap yeah there’s not a whole lot of room to make a trade there is there but it seems to be that’s where it’s going did that get within three ticks of the level that’s the next thing to ask oops wrong tool again I really need to put him on the outside looks like it only got there at a point not three ticks candle replay candle replay candle replay do you want to do it on this NE on the second push-up I wouldn’t that’s just me if you did it you were given the gift to break even again boy did I get there the ugliest way possible geez it finally made it all the way there you are kidding me I’d be done it hit the goal and that’s the day look at that it made it all the way back there oh my goodness oh my goodness you know on this marking you had a you had an option the wick the volume inbalance or the body two of those would have got you into the trade one of those didn’t how greedy do you want to be the greeder you are the better price you get you’ll miss trades if you get in at the first point you get the worst price but you’ll be in more trades what what’s the right answer I don’t have an answer these Wicks provide a zone for entry that’s what they provide you can do the wick you can do the middle of the wick you can do the body it creates a Zone I don’t know which one it’s going to bounce off of if you want to be the greediest trade the body if you want to be in the trade trade the wick that’s what I that’s how I see it oh that was a fun day [Music] um that was a fun day not the easiest to trade you had this beautiful easy trade here and then the rest of the day was hard and if you’d have played this entry at the greediest level on the one minute notice we were on the one minute trying to find trades there on a three minute you had no two candle clearance you had no entry here up here you could have okay any questions on that that was a good day to go over that was a darn good day to go over um the only thing I’d say I missed one would say that was the IB low but that was also a break level you could CU this should have been on your chart there’s your break level range that as this was coming down you could take the long here if you wanted you certainly could now how far did that go against you they went somewhere four or five points against you and then came back in for the gift of break even and then you have to decide this is lading down leaving fair value gaps and untested backsides on the way down do I want to take the long right here when you’ve got this magnet and this magnet here if you do do it small there’s nothing about that trade that says load up nothing about that trade at all that said load up so this would either be a loser maybe a break even probably a loser with the smallest leverage because just what I said we’re lading down leaving fair value gaps and untested backsides above us am I interested in this when I’ve got this gap down here that is a big magnet and that’s the narrative you have to take in look at that that day destroys people and why it destroys them is because we entered the day with what two things we entered this day with we have a strong uptrend we’re gapping up we’re lading up we haven’t taken back one break level that’s the environment we were in but we also knew because of that we had this big magnet down here I honestly didn’t know that’s where it was going it’s just that’s where we had to set it up we’re looking for this liquidity grab Breakin and Ladder Up why because we’re gapping up we’re with the trend we haven’t taken out one freaking break level this is the first time it broke anything it pushed up with a Vengeance and we were able to get long at a beautiful level on a one minute chart nailed 10 points failed to make a new high and get two candles above it then fair value gapping in Fair Value gapping in this beat up break level it finally takes it you might been able to get short there maybe maybe maybe but you’re also entering short at pck that’s a that is a tough trade um I know there that’s got to be where Pac was but if you ignore Pac altogether um you would had to front run that level how much would you have had to front run that level let’s measure it let’s go all off the wick so off the wick actually you’d have been just fine off the body you would have never gotten in off the wick here so like I told you the wick to the body gives you the entry range do you want to be aggressive go for the wick Better Price go for the body I don’t have an answer for you you have to trade for you when I’m seeing lading down with aggression I have will often front run front run the wick because I want to be in it now I would like this scenario I’m gonna remove all these lines geez look at all those lines I personally would have preferred um if I could take these boxes and put them under this overnight low if I could just slide that down under this low here I would totally be front running a backside um in a vomit but this is in the middle of the range this is not one I would be front running a backside would I take the backside yes small why small because you still have this inefficiency right here with the front side price easily could run there and you’d go yeah makes sense it went there you better be able to handle that you better be able to take that what a great day lots of valuable nuances I need to watch this again for sure is there a place in Discord for the recording yeah I put it inside the last Saturday I put it inside the group the YouTube link so scroll up just a little bit I saw I think one person looked at that video save those links in your notebook make a new spot in your notebook price action workshops February 2024 and put that link as soon as I’m done with this I will upload it to YouTube and when it uploads I’ll post the link for class number two so make sure you see that Warren do you see it I can’t seem to find the spot okay let me go to February workshops it’s in our February workshops folder I’m gonna give you the link right here to download number one copy link I’m going put it in the chat I want to make sure you see it so click that and make sure you go see it it’s in the February workshops Channel under skill Builder does everyone see that so in the place this morning where I said we start at 10: a.m. eastern 30 minutes on Zoom making bacon life is good see you in a few it’s the post right above it yeah make sure all your channels are turned on I don’t know go to the very top up there and click where it says browse channels yeah I don’t know why but thanks for asking make sure all the channels are turned on um and in fact on that channel if you want it I bet you could rightclick it and uh put notification settings and put all messages right click it notification settings all messages do you see that setting maybe I need to make sure everybody sees that um here I’m going to go I’m G to I’m gonna put that on the trading floor you see all messages right click any channel and use the setting okay I’ll see you Jackie thank you sir yeah that’ll be it for today U right click any channel then use this setting okay all right guys that’ll be it I will get this uploaded thank you for participating and hopefully those nuances will be valuable because the money is in the nuances because it’ll keep you out of certain trades or you will dial down your leverage on certain trades or you will increase your leverage on certain trades the nuances really are important and that’s why I think together we trade better all right thanks guys
