Notes
- The immediate rebalancing of an FVG, created after a break of consolidation in a low resistance liquidity run environment, is something Michael is very keen to see and look for.
- Narrative is more important than market structure.
- Narrative is the understanding of what the algorithm will do next, why it will do so, and when it will do it.
- When the Dollar Index consolidates, non-dollar pairs move (EURGBP, AUDNZD,…).
- Most of the time, Michael doesn’t know where the price will go after the CPI announcement. He is not able to predict it.
- The Sick Sister concept, or Sympathy Play, does not mean buying the weakest or selling the strongest correlated market. A weak market can remain weak for the rest of the day, just as a strong market can remain strong. We want to buy a relatively weak market and sell a relatively strong market if that also makes sense in terms of our technical analysis.
- We should treat trading like any other skill where discipline and patience will lead to lifelong benefits.
- Michael suggests anyone learning his concepts should spend at least six months trading on a demo account. We can move on to real trading only when we prove that we can make money on a demo account.
ICT Bullish Breaker And Inversion Fair Value Gap
ICT Silver Bullet And Time Distortion
Dollar Index
EURGBP Trend
FVG Immediate Rebalance
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