ICT Mentorship Core Content - Month 8 - Essentials To ICT Daytrading

ICTShark · March 27, 2024, 7:56pm

Notes

We aim to capitalize on at least 65 - 75 % of the daily range.
We focus on the next weekly expansion, higher or lower.
The New York Open session is easier to trade than the London Open session.
The only time to avoid the New York Open session is when the London Open session makes 80 % of the average daily range (ADR = Average of the last 5 days).
London Close session often provides entry opportunities for One Shot One Kill (OSOK), swing trades, and position trades.
During the Asian Open session, a daily high or low is often formed on the JPY, AUD, and NZD currency pairs.
It is wise to take profit before the end of the London Open session as a retracement or reversal may occur during lunchtime.
If Monday is a large range day and trades in the premium/discount area relative to the daily chart, it will often form the high or low of the week.
There is a 70% chance that a weekly high or low will form during Tuesday’s London Open session.
Usually, the weekly range is capped by Thursday’s New York Open session.
If objectives in terms of PD arrays haven’t been met by Thursday, then you could see a surprise expansion on Friday.
If Thursday met the daily PD array for the weekly range, then chances are Friday will be a quiet day.
If your broker doesn’t use Sunday’s data, just use the opening on Monday.
If we are bearish and the price goes above Sunday’s opening during Thursday, it indicates a potential major intra-week reversal.
If we are bullish and the price goes below Sunday opening during Thursday, it indicates a potential major intra-week reversal.
We short every session if we are below the Sunday opening until we reach an opposite PD array. Then, we can expect a reversal.
We buy every session if we are above the Sunday opening until we reach an opposite PD array. Then, we can expect a reversal.
We generally have nine solid setups a week.
IPDA will move from one PD array to the next, from a discount to a premium and from a premium to a discount. Knowing what they are on the daily chart will help you frame the weekly range and how it will unfold.
The weekly range is determined by blending the Sunday opening price with the PD arrays on the daily chart.