Notes
- In this lecture, Michael breaks down his short trade from Thursday, October 3, the day before the Non-Farm Payroll announcement.
- Michael advises new traders to avoid trading on Wednesdays, Thursdays, and Fridays during NFP week.
- We should trade only on Mondays and Tuesdays, as the market tends to be more predictable and stable during these weeks.
- Over time, with experience and mentorship, we will develop the skills needed to handle such conditions and trade even on those difficult days.
- The Breakaway Gap occurs as the market shifts higher or lower after a period of consolidation, indicating that a significant market move could be underway.
NQ Trade Example - Weekly Chart
NQ Trade Example - Daily Chart
NQ Trade Example - 15-Minute Chart
NQ Trade Example - 5-Minute Chart
NQ Trade Example - 1-Minute Chart
NQ Trade Example - Trade Entries And Exits
Next lesson: 2024 ICT Mentorship - Non-Farm Payroll: October 4
Previous lesson: 2024 ICT Mentorship - Tape Reading NQ: October 2