2024 ICT Mentorship - Lecture 14: August 22

Daniel · August 28, 2024, 4:19pm

$ICT 2024 Mentorship \ Lecture #14 August 22, 2024 Begins 9:00am ET$

Notes

Michael monitors these lower time frames charts during intraday trading:
- 5-minute chart
- 4-minute chart
- 3-minute chart
- 2-minute chart
- 1-minute chart
- 45-second chart
- 30-second chart
- 15-second chart
During the first 30 minutes after the market opens, an inefficiency will be created in one of the above time frames. The algorithm will use it until the end of the day.
Michael claims that 70% of the time, price trades to the Consequent Encroachment of the Opening Range Gap within the first 30 minutes after the opening.
During the week of the Jackson Hole Symposium, we can expect a Seek and Destroy profile every day.
High and low of a daily FVG are two of the eighty-one PD arrays that Michael uses.
The Opening Range of the London session starts at NY midnight and ends at 12:30 a.m (00:30).
Michael also analyzes daily charts using the settlement closing prices. For example, when he sees that the inefficiency is wider on a chart using settlement closing prices, he will use this PD array.
The Change in the State of Delivery (CISD) does not require the closing price to be below the opening price of an up-closed candle (or series of up-closed candles) or above a down-closed candle (or series of down-closed candles).
Michael claims to be able to find a winning setup every day between 2:00 p.m. and 2:30 p.m.
Trusting in our system and understanding the reasoning behind each trade is vital.
Traders who focus too much on the correlation between markets without understanding the underlying liquidity and price structure are skipping an important part of price action analysis and, therefore, often fail.