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 Gap 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 imbalance 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 rth 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 loss 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 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
range 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

Disclaimer & Links
DISCLAIMER:

๐ŸŒ ๐Ÿ…ป๐Ÿ…ธ๐Ÿ…ฝ๐Ÿ…บ๐Ÿ†‚ ๐ŸŒ
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๐Ÿ“ฃ ๐Ÿ††๐Ÿ…ท๐Ÿ…พ ๐Ÿ…ฐ๐Ÿ…ผ ๐Ÿ…ธ
Lean in and listen to me… I will be candid and frank with you. I am NO “Guru”… nor do I claim to have invented ANYTHING. I combined several techniques together, made a few tweaks and adjustments for ES.. and viola.. the Core Strategy was born!

I am professional full time MES Micro Futures Trader who leads other futures traders through the price action DAILY on ZOOM. We trade our Core Strategy together, as a team. Together we trade better! Come join us!

๐Ÿ“‹ ๐Ÿ…พ๐Ÿ†„๐Ÿ† ๐Ÿ†‚๐Ÿ†ˆ๐Ÿ†‚๐Ÿ†ƒ๐Ÿ…ด๐Ÿ…ผ:
Micro Traders: At the very essence, we are โ€œbounce tradersโ€. You seeโ€ฆ with high certainty, we know where the price will bounce. We play the bounces. Sometimes the bounces are counter-trend, and sometimes with the trend. Personally, I love โ€œWith The Trendโ€ trades. They offer lots of juice for the squeeze.

๐ŸŽณ ๐Ÿ…ผ๐Ÿ†ˆ ๐Ÿ†‚๐Ÿ…พ๐Ÿ†„๐Ÿ†๐Ÿ…ฒ๐Ÿ…ด๐Ÿ†‚:
Our System Is A Combination of:

* Cotton: His information is central. Watch every video 2-3 times! Cotton wrote “the book” – I trade it with ES/MES. I highly recommend to my traders to watch ALL of Cotton’s videos and join his Discord. Heck, join his mentorship if he still offers it. Then, IF you are interested in trading with some MES/ES traders using Cotton + Market Profile + some ICT Concepts, join our trading room.

LINK TO COTTON VIDEOS: https://www.youtube.com/c/c0tt0nc4ndyTA/videos (I watched them ALL 3X plus joined his mentorship for a time)

* ICT (2022 Mentorship, specifically. He is a madman!) https://www.youtube.com/c/InnerCircleTrader/videos

* Market Profile (Shadowtrader, Paul Asmar from CamelBack trading, Dalton).

I combined these three systems to create a complete scalping strategy.

Interested to join a trading group that uses this philosophy?
https://www.MicrosTrader.com

I am NOT a financial adviser. I do not promise ANYTHING but some education. I do not guarantee results. I don’t know you from Adam – you might be as intelligent as a sack of rocks. Or over emotional like a scared cat while trading. I have NO CLUE if you can trade successfully. ONLY YOU know if YOU are coachable. Trading IS hard, emotionally speaking. Trading in a group HELPS! I will help guide you to start smart by starting small with a high-probability system. You will paper trade first until YOU feel ready to go to the next step. RISK NOTHING while learning this system.

Commodity Futures Trading Commission. Futures and Options trading has large potential rewards, but also large potential risks. You must know the risks and be willing to accept them in order to invest in the futures and options markets. Donโ€™t trade with money you canโ€™t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 โ€“ HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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