Notes
- Ask yourself what characteristics you are trading in, and then you can build a framework.
- In consolidation, you can say I will not do anything, and I’ll be waiting.
- Michael refers to the consolidation phase as a holding pattern.
- All the moves start from consolidation. That’s where the market makers build orders.
- You need to know where the price is, where it is likely to go, and where it came from.
- Expansion is also known as impulsive price swing.
- We always wait for the first expansion.
Elements To A Trade Setup
A. Context or framework surrounding the idea
- Expansion.
- Retracement.
- Reversal.
- Consolidation.
B. Reference points in institutional order flow
- Orderblocks.
- Fair value gaps and liquidity voids.
- Liquidity pools and stop runs.
- Equilibrium.
Elements To A Trade Setup - Market Efficiency Paradigm
Elements To A Trade Setup - Price Delivery Stages
Elements To A Trade Setup - Price Delivery Stages - Expansion
Elements To A Trade Setup - Price Delivery Stages - Expansion Example
Elements To A Trade Setup - Price Delivery Stages - Retracement
Elements To A Trade Setup - Price Delivery Stages - Retracement Example
Elements To A Trade Setup - Price Delivery Stages - Reversal
Elements To A Trade Setup - Price Delivery Stages - Reversal Example
Elements To A Trade Setup - Price Delivery Stages - Consolidation
Elements To A Trade Setup - Price Delivery Stages - Consolidation Example
Next lesson: ICT Mentorship Core Content - Month 1 - How Market Makers Condition The Market