Notes
- Open float is the study of how price reaches above and below the market price.
- A market structure shift is the first clue the market will likely turn.
- The intermediate-term high (ITH) is a swing high with two lower swing highs to the left and right, referred to as the short-term highs (STH).
- The long-term high (LTH) is a swing high with two lower swing highs to the left and right, referred to as the intermediate-term highs (ITH).
- The intermediate-term low (ITL) is a swing low with two higher swing lows to the left and right, referred to as the short-term lows (STL).
- The long-term low (LTL) is a swing low with two higher swing lows to the left and right, referred to as the intermediate-term lows (ITL).
- Michael refers to chart reading through LTH/LTL, ITH/ITL, and STH/STL as an advanced market structure. That’s how he looks at the market.
- Knowing where the buy and sell orders are will give you a framework for determining future market direction.
- Doing this study on the daily chart will give you a long-term bias and institutional sponsorship behind your trades.
[Open Float
Open Float - Market Structure Shift Example
Open Float - Market Structure Shift Example
Open Float - Run On Buy Stops
Open Float - Run On Sell Stops
Open Float - US Election
Next lesson: ICT Mentorship Core Content - Month 5 - Using IPDA Data Ranges
Previous lesson: ICT Mentorship Core Content - Month 5 - Quarterly Shifts & IPDA Data Ranges