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Intraday Scalping Strategy Overview

Aug 4, 2024

ICT Price Action Model 1: Intraday Scalping Previous Day High and Low

Prerequisites

  • Watch the "Mastering High Probability Scalping" Volumes 1-3 tutorials available for free on the website and YouTube channel.

Trader Profile for this Model

  • Does not hold long-term or overnight positions.
  • Prefers frequent setups over waiting for long-term setups.
  • Sifts through a basket of markets daily.
  • Limits focus to select short-term strikes.

Model Overview

  • Objective: Engage price action with a rule-based idea for intraday scalping.
  • Pattern Setup: Optimal Trade Entry in the New York Kill Zone.
  • Focus: Previous daily range raids.

Setup Overview

  • Buying: Intraday New York session bullish optimal trade entries aiming for the previous day's high.
  • Shorting: Intraday New York session bearish optimal trade entries aiming for the previous day's low.
  • Projection: 10, 20, or 30 Pips beyond the previous day’s range.
  • Range: Any previous day inside the current 20-day IPDA range.

Liquidity Pools

  • Key Points: Focus on liquidity resting below the lows of the last 20 days.
  • Lookback Period: 20-day IPDA range excluding Sundays.

Analysis Techniques

  • Defining Highs and Lows: Identify high/low points and liquidity pools over a 20-day period.
  • Market Structure: Identify market structure shifts and order blocks.
  • Equilibrium Levels: Define premium and discount levels within the 20-day range.

Trade Entry and Execution

Buy Program

  • Timing: Ideal buy days are Monday through Wednesday in the New York session, possibly Thursday if liquidity remains.
  • Setup: Look for a retracement lower against London session momentum using bullish optimal trade entry pattern, keying off the 62% retracement level plus 5 Pips.
  • Stop Loss: Place at the low or 5 Pips below. Move after 20 Pips scaled out.
  • Targets: Scale-out before the initial high of the day and at FIB tool targets.

Sell Program

  • Timing: Ideal sell days are Monday through Wednesday in the New York session, possibly Thursday if liquidity remains.
  • Setup: Look for a retracement higher against London session momentum using bearish optimal trade entry pattern, keying off the 62% retracement level minus 5 Pips.
  • Stop Loss: Place at the high or 5 Pips above. Move after 20 Pips scaled out.
  • Targets: Scale-out before the initial low of the day and at FIB tool targets.

Important Concepts

  • Previous Day Low (PDL): Defined within a 20-day range, not necessarily the calendar day before.
  • Order Blocks: Focus on bearish and bullish order blocks within defined ranges.
  • Liquidity Runs: Expect parabolic moves towards liquidity pools.

Practical Examples

  • Charts and Analysis: Provided multiple examples from recent trading weeks to illustrate the principles.
  • Symmetrical Price Swings: Used to predict potential moves and scale-out points.

Summary

  • Rule-Based Scalping: Engage with a structured, rule-based approach.
  • Context Building: Compliments existing high probability scalping tutorials with a mentorship perspective.
  • Next Steps: Explore short-term trading with the London open in the next model.

Good luck and good trading!

Full transcript