Notes
- The focus of this lesson is on Time and Price Theory in relation to market conditions specifically applied to the GBP/USD.
- Viewers should have watched volumes 1, 2, and 3 before watching this video.
- We focus on buying at or below the opening price of each day, specifically on Monday, Tuesday, and Wednesday (classic Power Of Three).
- Michael claims there’s a 70% chance that the low of the week is likely to form on Monday, Tuesday, or by Wednesday’s New York session.
- We avoid buying on Thursday and Friday in bullish weeks and selling on bearish weeks as these days tend to finalize the weekly range.
- Optimal Trade Entry is associated with the time of day, i.e., kill zones.
- Important times:
- London Kill Zone: 2 a.m to 5 a.m. New York time.
- New York Kill Zone: 7 a.m. to 10 a.m. New York time.
- New York Session: 8:30 a.m. to 11 a.m. New York time.
- We look for trade entries during these kill zones for higher probability trades.
- For new traders, avoiding trading during FOMC announcements is advisable due to high volatility.
- Buying and selling setups:
- Retracement to OTE levels.
- Retracement to order block.
- Turtle soup (stop run).
GBPUSD Market Maker Buy Model Example - Hourly Chart
GBPUSD Market Maker Buy Model Example - Hourly Chart Detail
GBPUSD Market Maker Buy Model Example - Buying Opportunities
GBPUSD Market Maker Buy Model Example - 15-Minute Chart
Next lesson: ICT Forex - Market Maker Series - Volume 5
Previous lesson: ICT Forex - Market Maker Series - Volume 3