Notes
- In this lecture, Michael returns to the basic ICT concept of Power Of Three (PO3) and recalls the requirements for entry into the position:
- If we expect a candle (daily, 4-hour, hourly,…) to expand upwards, we want to buy below or close to the opening price.
- If we expect a candle (daily, 4-hour, hourly,…) to expand downwards, we want to buy above or close to the opening price.
- The lunch macro starts at 11:30 a.m., and it can go as long as 1:30 p.m.
- If the price was rising before the lunch macro, the algorithm will seek liquidity below the last swing low formed before 11:30 a.m.
- If the price was falling before the lunch macro, the algorithm will look for liquidity above the last swing high formed before 11:30 a.m.
- Michael states that there are four macros within the last hour. However, he lists only two time intervals:
- Last hour macro - 3:15 p.m. to 3:45 p.m.
- Market on close macro - 3:45 p.m. to 4:00 p.m.
NQ - Lunch Macro
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