ICT Mentorship Core Content - Month 7 - Short Term Trading - Using Monthly & Weekly Ranges

ICTShark · March 27, 2024, 7:25pm

Notes

Short-term trading is Micahel’s favorite trading style.
If Michael cannot find any One Shot One Kill (OSOK) setup, he moves to day trading.
These setups are formed every week, so there is no need to feel the fear of missing out (FOMO).
Determining the trading range:
- From a monthly discount array to a weekly premium array.
- From a monthly premium array to a weekly discount array.
- From a weekly discount array to a daily premium array.
- From a weekly premium array to a daily discount array.
Look for all the PD arrays on the Monthly, weekly, daily, and four-hour charts. If we outline our premium and discount arrays and are bearish, we want to see the discount arrays continuously broken until we get to the weekly discount array.
The one-hour chart is our executable chart no matter the PD array’s time frame.
The One Shot One Kill strategy is Michael’s daily bread and butter. It offers setups every single week.
We don’t need seasonal tendencies for short-term trading. If we are in line with them, it’s just a bonus.
If the high of the Monday to Wednesday range is broken on Thursday or Friday, it generally suggests we will move aggressively higher into the premium area.
If the low of the Monday to Wednesday range is broken on Thursday or Friday, it generally suggests we will move aggressively lower into the discount area.