ICT Mentorship Core Content - Month 9 - Bread & Butter Buy Setups

ICTShark · March 27, 2024, 8:10pm

Notes

A typical trade produced by these models takes no more than two hours.
The reaccumulation model is typically identical to the optimal trade entry (OTE).
The offset model is basically a turtle soup setup.
Michael recommends using market orders to enter trades.
We use an institutional order flow analysis and IPDA data ranges to determine where the price will most likely go.
We analyze institutional order flow on monthly, weekly, daily, and four-hourly charts.
If we expect higher prices, we want to see bearish PD arrays fail and bullish PD arrays be respected.
If we expect lower prices, we want to see bullish PD arrays fail and bearish PD arrays be respected.
The London open swing usually covers 40-60% of the daily range before 5 a.m.
The market usually retraces or consolidates during London lunchtime.
The price should hit the five-day ADR high. Combine that with projections and PD arrays to get very precise results.
Michael recommends trading these models on the five-minute chart.
Every session has a protractionary market stage, a judas swing.
Typical protraction times (EST):
- 12:00 a.m. - New York midnight.
- 8:20 a.m. - CME open.
- 10:00 a.m. - London close session start.
- 8:00 p.m. - 0:00 GMT.
Michael no longer trades the London close session.
Michael no longer trades forex during the London close session.
The Asian Open and London Close sessions are probably not worth watching as they offer fewer opportunities for trading.
Scalping opportunities for the short side are described in the Bread And Butter Sell Setups lesson.