Transcript for:
Close Proximity Bullish Breaker Entry Strategy

[Music] e [Music] okay so we're going to do a close proximity bullish breaker entry and I'm going to execute now and we'll use stop loss of 55 take profit of 114 big figure okay and what we're doing is we're capitalizing on the run on stops here or entering inside of this candle here shade that different color so in in here looking to go long with the expectation that we're going to clear out all of the liquidity above these highs and if we do a 10 pip okay it's 10 Pips and then we'll do do 20 pit and then we'll do a 30 pip grade crunch this down a little bit okay and here they are respectively and the point of this exercise is we know there's a a strong likelihood that we'll have a run on the liquidity above these highs you want to be engaged in the price action watching its sensitivity it's willingness to want to move above these highs and you want to enter right in this candle what this is going to do is it's going to teach you tolerance this isn't exactly as I'd like it there you are bring that down there all right so we have stops in here cell side liquidity okay in here now this is a rejection block and if you don't know what that is you'll see that in the future content okay so price trades into the block hits it runs expands huge pull of liquidity resting above these highs again we've mapped out the 10 20 pip and 30 pip grade of stop sweeping we would expect in here okay and I have my limit order to get out at the big figure and just ahead of 30 Pips now it could go more than that because there's been a decoupling of the Euro and cable take a quick look at cable you can see beautiful upside as we expected on this particular pair let's go to an hourly chart you can see a little a little bit more framework here okay you can see that we have cleared an area of liquidity here it continued on higher we mentioned previously this week on Monday that we would see upside runs on liquidity on the weekly chart we said that uh we would probably see some inefficiency up here in the breaker be a factor we have a really nice strong showing thus far for this week uh the the range is open at 2850 with a high of 3063 so we've seen over 200 Pips of a move again I mentioned that if you're going to trade this you need to do it delever that means you're not going to be exposed to unnecessary risk and our dollar Index we have a large liquidity pool here relative equal lows multiple times trying to go higher it rejected that so they're going to want to rebalance down here we have two areas to be concern ourselves with from a intraday basis we have our buy side imbalance sell side inefficiency here and we have another one right in here right there so we'll look for these to be traded into just as a point of additional reference we're going to add the average daily range suggests a deeper run that would take us below this low in here I'm not going to be that demanding in terms of what the dollar may do today I think that these two are likely this one highly likely because we have a 80 level essentially 9580 I want to see if there's any rejection in here once we clear these areas of imbalance and price has been offered on cell side once that occurs this area up here would be a point of interest but we'll have to see when and if we trade down here at all by going back to the euro dollar one of what I'm mentioning earlier was when we look for exercises and it's all this is it's not a like get wild and go crazy and try to over leverage the account out and all that uh the the premise is once price has shown a willingness to want to run the stops and that's all that's necessary because everyone spreads slightly different and if you don't understand what I mean by that be long be long here with a stopped just at that low or just below and believe me they'll they'll open the spread to get you that's what you agree to when you open up an account so inside of this up close candle this is our bullish breaker I'm entering with the premise that this will eventually trade through and it can and I'll permit it to trade back into this up close candle and find support it would be better if it didn't do that but that's what we're trying to do at first glance this would look like chasing price because the context has not been outlined as I'm doing it now this is relatively low in terms of risk I mean we're talking about very very small tiny little risk in terms of equity and also Pips it's less than 15 Pips I know it says - 143 but they show in pipets so it'll give that additional digit so it's less than 15 Pips of a stop with the likelihood of making a run up to the big figure which would be 30 Pips or more a little bit more than that so it's a nice little low resistance liquidity run relative to the equal High in here lots of pulling buy side liquidity so there'll be a lot of folks that want to buy this on a breakout shorts have their buy stops resting above there and again we're close to we're close to the 11380 institutional level up here as well there'll be transactional orderflow at that price point as well and if we get that we may expand up into 114 big figure so again what this exercise teaches is tolerance that means sitting in a trade that has already started to move ideal entry is obviously down here but we don't need that we do not need that entry point you need the context in the price what is price likely to do now see watching it in here you may feel if this was a live account uh or if you've executed yourself you may feel some uncertainty or some apprehension and whether or not this thing's going to go higher or lower you you feel that and that's what you need to do you you want to be practicing every single day engaging with the things that you learn in a mentorship the only way you're going to develop your eye and your experience is by doing it and I can't transfer my experience to you it has to be accumulated on your own so while price is up here towards the top end of this range the expect expectation is the open float is the buy side liquidity rate above here that's going to be tagged or reached into now on the downside how far can it retrace ideally you want to see it stay inside of this area right in here why because that's the last up closed candle they sold into it here ran stops so our premise is they came down here and knocked those individuals out before the big move or the underlying move for today to the upside would be seen and since it's an intraday volatility exercise it can be against the weekly analysis in other words longer term uh euro dollar could trade lower and this could still be insignificant in the grand scheme of the longer term view so this would you know allow you to capitalize on the opportunity to engage get experience um test the theory of of open float looking for liquidity getting in an area where it's logical even though it would not seem logical in the sense of a retail Trader for instance if we pulled up an indicator and we looked at for instance relative strength and we'll use a 14 CL that with line here okay we're like in no man's land for oscillators it's towards the end of the top end of the range that's being shown here so in other words if we looked at the range created by this RSI the highest range is essentially there and the lowest is down here so that's your oscillating range so we're above midpoint so in essence this would be deemed overbought even though it's not technically at the 70 so retail wouldn't necessarily see this as a buy but from an Institutional standpoint none of this stuff down here makes any point in terms of what price is going to do it doesn't it doesn't predict prices put it that way so we're focusing on the order flow that would reside in here they're building up more Longs I wouldn't be surprised if we see it shoot down and touch the bottom of the range it that would be permissible with still upside expansion would be the intended outcome so I'll let this recording go a little bit and if there's something to talk about obviously I'll mention it in passing time is 10:18 Wednesday January 23rd 2019 have a little bit left in the daily range this may be a late bloomer consolidation day and again with the cable tearing to the upside like that euro dollar may want to make an attempt to rebalance and get in sync with it since we've seen um the consolidation effort on euro dollar and the trending model that cables in dollar Index has yet to break out its little range in here again open float the liquidity resting below these equal lows would send us into these areas we've had one two three four times trying to trade higher we broke down we're in consolidation I don't see that as a reversal but I do suspect that we could seek this liquidity down here and I'd like to see it come down here pick these orders up and then continue on the upside so again we'll go back and resume or observation on the euro dollar now you would be wanting to log all of these feelings you have as we start to see it have a closer expansion down to the end of this candle's low and you want to desensitize Yourself by watching this and you can see how quickly we're giving it all back again this exercise is tolerance okay there's things that I'll put you into and suggest to you that you practice with and again the intention is not necessarily to grow the account it's to desensitize yourself to certain characteristics of price action within a underlying premise so the premise is we think it's going to go higher or I think it's going to go higher to seek the buy side liquidity the trading against the entry and we use the high end up here of the range just outside of the uh the bullish candle because of the the spread that's what's been shown here but technically we're inside a candle The Fill is near the top end of the range and we want to watch how price trades into the bottom of that candle and see if there's any sensitivity to that if it does it show starts to show upward of momentum then we can start to look to reduce the Stop and again you're building tolerance in price action that is against or opposed to your underlying entry using the worst case scenario entry point but still working within an underlying premise all these things will help build your model that will lead to Precision even though this isn't Precision in in the sense that look how tight the entry was to the actual lowest low and the exit being near the highest high that's not the premise of this exercise what you're teaching yourself is to be completely void of any emotion you're not worrying about whether or not it's going to trade outside that range you want to see how many times it does this okay by doing exercises like this there's many opportunities this is a 15-minute chart you can do it on a five minute charts you can do it on one minute charts several times a day there's cross you know Majors you can do EUR dollar cable Aussie dollar New Zealand dollar uh dollar CAD dollar yen I hate that pair the exercise can be done several times a day all you're doing is looking for where the open float is above the marketplace what liquidity would rest above that and what liquidity would be resting below the marketplace and you want to try to get in at the worst entry point and then watch it study it and by doing it it completely desensitizes you to what price might do against you and you won't fear being in your positions because there's one thing about speculating and trading is the the discounting that authors and Educators do about the the wearing down of the patience factor in a Trader and the reason why is because most of them aren't real profitable Traders and they don't have a an Arsenal if you will of exercises to help teach students or teach traders that have yet to find consistency how to overcome that Battlefield in your mind because that's where 90% of this is going to come from uh your ability to stay with a trade idea because anyone could quickly look at a chart and think okay it's going to go up it's going to go down okay that's fine that's assuming that we've done the same thing here we think it's going to go higher We Run The buy side liquidity it can go 30 Pips but we're going to try to take something off at 10 at 20 and ultimately see if we can get to that upside objective for full Hall at 30 Pips if we get the the movement contained inside that single candle and the exercise pans out to hit the 30 pip run on liquidity what that'll give you is experience number one to trust the fact that Breakers are in fact a valid um phenomenon in price action and that the algorithm measures the specific price points defined by the last up Clos candle is high and low in context with time and price which is what we shown here we're near the end of the day so it didn't find its way lower we did stop out anyone that was long in here so we had a double run on these stops here right in here we've essentially traded into the mean threshold of this series of down closed candles okay we had this run here we had this run to it again we had this one more run lower and we rejected it came back in here and now we're staying inside of this trading range right in here so if we were to look at say a 5 minute chart with the same price PR action defined in here this would not look like a buy to anyone outside of our Circle outside the mentorship they would not see this as a buy but yet it is now while you're watching price action and we're towards the low end of this range in here when we're trading down to this price point here or even here this would be an area Okay this would be a better entry point we could be entering a long here at 11365 and again same stop would be here and it would be a lower um amount of risk or lesser amount of risk than the initial entry up here and you make little notations in your your study journal or do it with your notepad at the time and then you transfer those notes since we only doing it in bullet point format we're not doing essays we're not doing real long paragraphs explaining things time when certain things are occurring like right now it's 1029 1030 we observed that price is still being contained in the 15minute bullish breaker price came down towards the end of that range again the range is the low that 15-minute candle we came back down traded into some down closed candles didn't get to the bodies but we did trade down into them so it's picking up more orders we're not worrying about whether it's going to break out of the range we're studying does does it have the the ability to stay in the range and not go outside of it and yet still find more orders to push it outside to the upside above here so we have created another liquidity pool with these equal highs even though these slightly little equal highs here have essentially been ran the larger context is that we've already on a 15minute basis because now what's what's subordinate in terms of U price is the 5 minute subordinate to a 15minute or 15 minute subordinate to a five the higher the time frame the parent role is assumed and subordination is on the Lesser time frame so if we can see and Define that there's a large liquidity pole here on a 15-minute time frame it doesn't matter so much that we have a f minute liquidity pool here with equal highs that has already been ran that's fine the context now has been added that we have a breaker here this low has been tagged we ran up we're inside of this range so we're growing in our tolerance that's the nature of this exercise it builds tolerance in your psyche and your mindset by watching price when price is having its wicking formation here even if you bought up here or if you have a position that you entered into it doesn't necessarily need to be the the worst case scenar like we're forcing ourselves to do here it could be a relatively good entry but you still have some draw down away from that entry the the common um experience if you will is that the trader because there's very little experience they get nervous they start wanting to move their stop wider they're they're trying to uh determine whether they want to get out of the trade all those things are in their mind because they have not built a tolerance to normal price action the reason why their sensitivity is so high and they have a lack of Tolerance and an intolerance to adverse price action is because most time they're overleveraging their account because the overleveraging factor is at play the amount of pain that is being experienced is being basically translated to how much money am I going to lose here versus price should stay Within this defined dealing range with this last up Clos candle here that is our 15minute dealing range that's all we're doing is we're dealing inside this 15-minute dealing range so again going back to that 5 minute chart we came back down into some down closed candles so I teach institution overflow this is what you would expect to see now if we go down to a one minute chart we're going to look inside this area right in here and it's highlight before we do so so we have all of this price action in here okay so inside the White area that's clearly distinguished from the I guess that would be tan or beige the uh one minute chart we dropped down into it clearly we can see now we have a propulsion candle that's all we did we traded down to a propulsion we have a bullish order block right here price trades away from that and then comes back down into it this down Clos candle that does not breach the midpoint this is our bullish propulsion candle when we see that price trades back down into it again you should never see price trade down through the mean threshold of propulsion candle that's what we see here price respecting above the 50% level of that and we came back down and hit it again all we did was use reclaimed odor block Theory right here with the context that this whole price move here and this right here again this is even better watching the one minute chart we can see it trade down to this down close candle here and that would be normal there's nothing wrong with this idea of price Action Moving to this price point right here thicken it up a little bit and look to see if it can close that so it's a buy side imbalance sells side inefficiency inside this range so we'll watch to see it doesn't have to do this it's better if it leaves it because that would be a breakaway G okay so we want to see price stay above this basically and it's also essentially equilibrium of the range that we defined with that 15-minute bullish breaker so we're going to watch this one a one minute chart unless we break out to the upside and show some magnitude and displacement but right now we're still inside the range dealing inside of that 15minute breaker which is defined by this tan shaded box if you wouldn't call that now this exercise again it builds tolerance it builds patience because once you put your trade on who's in control after that the market is so you have to submit to the time required for your trade to either move to your target or run to your stop one of those two scenarios is going to happen you don't know for certain which one it's going to be but you have to build tolerance to that amount of time and you also have to build tolerance with adverse price action so the best case scenario for entry is not necessarily the optimal training point for that exercise you have to get in the move towards its last piece of where I guess in a in a sense yes okay let's agree on this buying it here is chasing price if you don't use the context of what we're doing here which we're doing an exercise everything that I'm teaching is promoting the idea of allowing yourself with the right trade idea and Direction because most of you if you've traded at any time length at all you have been in winning trades before but you gotten shaken out of it it and this is one of those skill sets that you develop by doing this very exercise right here and this is what you get so now we can move our stop up we do not want to see the trade come back in below our entry so we've done a profitable exercise here we've shown the the effects of what institution order flow will do with proper context and price action understanding the daily range understanding how the orders will be picked up and then defining parameters what would be intolerable like in other words we didn't want to see it trade back below here but we were allowing it to do so so it could trade down to that price point that's fine but anything below that would be not so welcome so I'm going to watch and see if we can hit that 25 and if we do I'll take something off there I'll take three off at that price point okay so we traded to the 11380 institutional level so we can Bounce Around in here let them collect more orders again there's going to be a lot of transactional orders that come around those levels institutional 80s 50s and 20s and 0000 full figure levels so when we trade to those price points it's normal for it to sit there and gyate back and forth a little bit in here because it's collecting orders they want to like the algorithm allows not all the time but generally when it trades to it it allows time for transactions to come in and build more order flow and then you'll see expand up to the next level either the big figure and maybe trans you trade through it so I didn't mention it when we did the outline for the framework for this trade but if we trade to the big figure what does that bring into the mix again another 30 Pips Suite higher so this idea even though it's an exercise you could manage this to the point where okay you want to take something off when it goes to 30 Pips or you can open your takeprofit now notice what I'm saying here I'm not opening our stops for wider risk I'm opening up the potential to collect more targeting or upside potential because we're factoring in the likelihood of trading to the big figure 1140 so all these things are profitable Endeavors for you if you do the exercises but I can't do them for you the benefit comes by you actually engaging of it let me take something out here okay so we have funded the trade there's zero opportunity for this thing to show us a negative Endeavor and now we'll go back out to a 15-minute time frame and you'll see everything in context now as I outlined it pretty much is panning out so it's not a matter of initially when you first learn from me it's not okay you teach Precision Concepts so therefore get me in at the lowest low so I can have a five pip stop loss and a thousand pip take profit you and it's exaggeration I know but nonetheless Precision comes by doing what I'm teaching you here you have to get past these psychological barriers which are going to be number one impatience and that's is what we are teaching here today and you have to overcome intolerance see you come into this business with a level of intolerance that you really don't know that you have because you think that if you watch a video of mine or watch someone else teach something maybe you bought a book or you bought some courses or whatever or someone's actually sitting down with you and trying to teach you something that may not be that uh their system is bad or their method is bad even outside of what we're teaching here from my content they may have a sound approach I'm not judging that but what that teacher or that Mentor may be lacking in their experience as a teacher or educator there's certain factors that the human mind builds in as barriers and those barriers are number one again the first one on the list is patience you have to be patient if you're not patient you're not going to be able to do this it's as simple as that now if you're impatient right now that's fine those things can be overcome they're not they're not roadblocks in a sense okay or or or or um Iron walls that are before you they're just simply speed bumps that you either have to number one identify that you have that issue and everyone has when you first start everyone has impatience because you don't know what you're trying to do you don't know what you're looking to get to as far as a an objective you just want to make money okay that's what this all about you're here because you want to learn how to make money and I told you when you signed up I'm not teaching you how to make money I'm teaching you how to read price action now what you do with this information May translate and I'm going to press that again it may translate into you making money if you do these things with a live account with your own decision making not me telling you what to do but I can tell you this you will not make money consistently if you don't overcome the mental barriers that traders in invariably have coming into this because you're you're uncertain about what you're doing you don't know what you're looking for No One teaches this level of price delivery nowhere they don't teach teach the Dynamics of it they don't teach you the components of when the markets should move why it should move and where it should never go outside of I can create an idea on building a model that you specifically and uniquely have yourself but you have to do these exercises because if you don't do them number one you're not going to have faith in what you're studying if you don't have any faith in it obviously what's going to happen you're not going to stick with it so there's going to be days when you do these EX sies where the price will move outside of the range and it's going to be viewed initially right away this is unprofitable this is a waste of my time no because trading is not 100% I don't trade with a 100% accuracy even though I've showed months of it on Twitter with one single account over over and over again that's my best time of the year that's all that was and it was scalping and many of the things that I did in that account is what I just showed you here I outlined it before the fact told you what we were expecting to see the framework that quickly that's all it takes for me to look at the chart and right away know where the open float is what they're going to Target and it gives me a context of the market so now I have a premise an underlying premise of what the market May do I don't need the excellent perfect entry point I don't need that and that's what I want to teach especially because we have a large influx of new Traders and new students coming in we don't need the best entry point to have a positive experience in learning and also if this were a profitable I'm sorry if it was a live trade obviously no no one could argue that this would be positive because we seen price action move in our intended Direction the downside was completely capped in terms of modesty there was very very little draw down from the point of entry and to where we took our first profit notice the sudden movement to liquidity in here that's reasonable that's expected and we're trading around that 80 level we're just above the 80 level so again that same element of holding around that same level right now if this were a live trade you probably would be thinking man do I get out of this trade do I hold on to it what do I do I've already taken first profit I've moved my stop to to no loss in other words we're positive one pip we can't well that's be honest I can do anything want to can gap down here for real and it would still disregard the stop but we have done everything in our human capabilities okay within reason on how to control the risk but the risk is always there if you're in the trade whether you have a stop loss in or not you have inherent risk it's there the stop- loss is your only Shield this exercise teaches you even if we get the worst case entry point top of the range it's not chasing price if we incorporate context it's not uh retail trading because we've understood with a great deal of detail at least I've made an attempt to do so here to outline what the market is going to do why it's going to do what it's going to do and why it should trade a specific characteristic or style within a pred determined range now from the free tutorials everyone learns that this is a bullish breaker after it trades away and comes back down you do not need that if you understand context we can enter before everyone else is going to wait for that retracement after it trades down sometimes that works sometimes it doesn't again if price trades back down into this that would be permissible but at the time of the day notice what I'm saying now this is important the time of the day is really really into London close so I do not want to see price trade back down to this level here because the likelihood of it coming back down here and then at the time of day we're at now to see another level expansion to clear all this range again and go higher it's less likely to do it so we're towards the end of the battery life if you will for this particular daily range so they're going to want to hold it up here or do Let It continuously press a little bit deeper and maybe attempt to get to that 114 as we go into noon time New York all these things come by way of experience and you cannot learn them and understand them and fully appreciate them until you do these exercises every single trading day every single trading day I do these exercises whether I'm executing or if I'm in my head saying okay I would do this I would do that and I make a little scratch notation on my phone or I make a little scratch notation on a piece of paper you know that I'm sitting next next to while I'm doing other things around the house I maybe answering emails with other folks in the mentorship or even free members if I look at the chart and see something I iMed write down what I think basically what I just showed you here and I'm talking a lot because you have to learn what I already understand about what I'm doing it but you're not having to do all this mental acrobatics when you do the exercise it's as simple as why I just outlined but I'm giving you the things you're going to encounter from a psychological stand point the impatience of when is it going to move out of this range when is it going to move in my favor oh it's pulling back against me you know it shouldn't it shouldn't do that I should get out of my trade and many times Traders you know if you're in a trade you'll drop down to these lower time frames and you start seeing this this was my entry and it's trading all the way down here man it's going to keep going down and what do you do you bail out right there and then you see this move and that's demoralizing let me tell you something in the '90s I did that a lot that happened to me a lot it shook me out of the trade because I didn't have a builtin tolerance to adverse price action you have to have these skill sets in your development if you do not have them or if your Educators or gurus or teachers do not teach these things you're not learning how to trade you're not you're guessing you're being taught how to guess and I don't teach guessing I teach statistical probabilities within a reasonable context of time and price Theory and it's an algorithmic perspective that is proven every single week every single time I sit down and explain something to the over the chart it pans out to script so either I'm controlling price and then my hand to God right now I'm not controlling price I get a lot of people they'll make comments and such thinking that you know I'm doing that I don't have any physical control over price I can't do that but I can read what price May likely do just like we did here we outlined why it should pause and hang around this price level and then resume going higher that's a reasonable expectation based on what I teach you in the mentorship this is real institution orderflow there's no volume profiling thing over here there's none of that stuff necessary none of that's necessary you don't see any charts in here only thing I'm drawing is a horizontal line and a range highlighted with a box to show you context what's inside this box okay what what am I considering what's inside that well that's a dealing range a 15-minute breaker so we can see it trade back down inside that range and still be going higher but if it's going to go down inside that defined shaded area what is it going down for well we've already arrived at that we have a bullish order block then we have a propulsion candle propulsion candle rules are we can't go below 50% of that it's here we dip into it right here one more time reclaim bullish order block bang takes off we've defined an area right here here and right at this moment when we defined that we could have really essentially moved the stop up a little bit from there but because I'm trying to teach you as the market is doing what it's doing and show you that I absolutely know what I'm talking about I have very little time many times to try to get my point across before the market does before I have it in my mind to tell you what it should do I have to make sure I get it out so it's it's a very Dynamic way of teaching obviously but you would expect that from someone with a braggadocious attitude like I do I know what I'm talking about I know what the markets are going to do I already know what you want to know I know those things and I do these things just to one more time to slow your role calm you down make you understand that you're in good hands I didn't just start doing this I've been doing it for a very very long time and it is beneficial for you to just relax and allow yourself to grow right now we are in London close essentially uh this is like the takeprofit time of the day in here we really don't want to see it give up anything like below here it could run those as a stop run and I'd like to see it continue there but again so late in the day probably wouldn't be um that energetic once we take these these lows here in other words everyone else is taking their stop loss and janit that low that's not that's not in my opinion where they should have moved their stop we have removed the tendency to want to move our stop up like that because we've taken first profit so the exercise is I'm building tolerance to being in the trade even though it's not moving in my favor right now and I know that it could potentially run these stops and we do have a void in here but because of time of day I don't think that it's likely to sell off that much to come back down to that level they're going to want to try to keep it near the high of the day what is that that is power three so power three components coupled with the actual time of day and what has been shown in price delivery here we're inside of this large liquidity pool if we zoom in a little bit again we're all we're well above these equal highs and above these equal highs all this price action in here this is not in my opinion a sell signal for it to come down here before like 1:00 today in other words in the next two hours I don't reasonably expect it to be down here now can it do it absolutely it can but because it happens outside of the time frame that I'm in the marketplace it's insignificant to me so when we operate with elements of like defining our daily range and working within the context of entering as long as we have have time before Mond close and then or true day which again is taught in the mentorship those boundary points in terms of time who cares if this fills in later on after 1:00 in the afternoon New York time it doesn't make any difference to me because all I'm trying to do is capitalize being from here up in here and watch we'll see if we can get that run here and see if it wants to maintain that range uh if we look at what we have we also have another smaller little dealing range so we have this low to this high so this is our present dealing range all we're doing right now is trading at the equilibrium price point of that so this is reasonable this whole retracement back down it can sweep below that and still continuously move higher Maybe not today it could just probably hang around in here and then during Asia it may want to resume and go higher or London may want to go higher but we're watching to see if there's any sensitivity after it takes these stops right below here for anyone that jammed their stop loss there's really essentially they're probably stopped out now but we want to see if there's any willingness to rally and continue higher after that low okay so we don't need this level anymore it's expired okay so those stops have now been taken I want to see if this candle can turn green and reject in here it may want to go a little bit lower than that but we don't want to see it trade below this down closed candle the body so those stops are definitely taken now for anyone that's trailed it so they've only been limited to whatever they call as an entry down here to here it's going to continue higher this would be the ideal scenario to do it once it runs it stops and then start to move higher but again probabilities are so low because of the element of time we've already hit London close so the battery life is really really low at the moment okay so we traded through this bullish order block in here not good we traed through the body of that so this could now give up all that range in this instance I'm going to bail because I don't want to see any of that Range close in because the probabilities are now so slanted against me I save the full stop out I have data to work within I'm not concerned whether or not I'm making money or or losing very little the outcome is what I wanted to see I wanted to see the dealing range in here support price I wanted to see price move to the upside run into the open float buy side liquidity as outlined on the 15-minute time frame we reached up into a level of the institutional 80 we spent some time around in there we traded back down to the bottom end of that new dealing range and we'll see if it wants to stay in this range or come all the way back down and close in this buy side imbalance sells side inefficiency but because of time and the time is at the moment basically 11:00 so that's lond close for me it's like the heart of when you want to be out but you obviously want to look for price points to reach M2 going into this hour between 10:00 and noon New York time that is your your uh your profit taking window if you will so back out to a 15-minute time frame this is what we have all the elements that were shown beforehand we didn't get the 20 pip sweep or the 30 pip grade sweep it could still do it it may take a little bit longer time cuz your has been really been held in consolidation uh if we take a quick Gander over at the cable you can see that it has topped out for the day and Euro made an attempt to get up there and try to close some of that that gap between its performance relative to the British pound dollar Index when you know it we traded back down into this fair value gaps is outlined here and everything for this exercise pretty much panned out in a profitable sense for your learning so we have this is a new demo account I'm testing through Ava trades I think is what it's called come on so there's that um not overleveraging obviously it may have seemed like it because I put five Lots on but relative to the equity base it's nothing it's very insignificant terms of risk but not many people can say they would make this much money in one single day in less than an hour's time so we had dollar reach down into our fair value gaps we had buy side imbalance sell side inefficiencies denoted perfectly beforehand I told you why it should go down there and also told you why the Euro should go up to where it went to it did not go to our second target it's not necessary to go to our second target those targets are incremental okay they are going to be subsequent to a previous level being reached so we had our level one we hit it I took profit I took the bulk of it now notice what I did I had five standard Lots on and I took three off at the first Target why did I do that because we had very little time relative to one and close time parameters now if this would have been for instance 8:00 in the morning or 8:30 in the morning when it started to Surge up like that I would have not taken as much as I did I would have just taken off one standard lot left four on try to reach for the second one because we would have more time more time of the day to see these other objectives be met but because we had very little time left in the daily range relative to L and close again using the kill zones in context it allows us to frame out protocols now you may not do what I just did you may want to say well I'm just going to take off half and then I'll half it again and that's fine there's nothing wrong with that there's no this is the best way of doing it it's going to be a matter of your personal risk tolerance and what you feel comfortable deing as long as you're taking off something at a logical level that you had a predetermined um notion on it being an objective and you execute on that that's where consistency is birth you find consistency by doing that now over time you will feel less likely to want to take partial profits because you'll feel more confident that a specific level will be reached even though initially when you look at the setup you'll say okay well this is where I would used to take a first profit but I'm fairly confident it's going to go to level two target so you wouldn't take that first partial profit you just sit and you wait and then that in itself is going to have a tolerance level that is needed and you get that by doing what we're doing here so the way you take this exercise and you build on it is if you have multiple targets try to hold the trade Beyond first Target don't take first Prof don't take first profit reduce the risk but don't take first first profit and then try to reach for level two Targets and you once you do that for a little while and you you build experience doing that then do the same thing for level three targets reduce the risk and then hold out for your third target again the expectation is it's not going to always do it but you're building a tolerance to the effects of being in the trade engaging with price action watching it move and breathe once it's doing what it's doing after you enter the trade that's where the real work is you're all thinking it's the hard part before you enter the trade where is it going where should I put my stop loss how much should I buy or sell you know when's a good entry you know what what should I be doing before the trade you're worried about all that and I'm telling you that that's the easy part of it the hard part is what I'm showing you here this is where the rubber meets the road they say you have to have experience you got to know what to expect because you've been involved in it multiple times in similar conditions if you don't have that it's going to be very hard for you and you're going to struggle mentally and you're going to get out of Trades that are really still good there's nothing wrong with this move here as we outlined it and I'm going to show you again with the tracers we'll put them on the chart okay and we'll put it on a one minute TR you can see just how much draw down was incur on it and take this away and we'll maximize the chart you can see it in perspective so we used the top end of the the bullish breaker to enter right on this candle here and then we had draw down to that price point here so not even what was that let's do it with a trend line here so our entry was here and we trade it down to to here so we had less than seven Pips draw down so less than seven Pips draw down using the worst case entry point now everyone else is teaching things oscillators retails things and their amount of draw down is exceedingly larger than seven Pips and I'm teaching you even on your worst day using what I'm teaching you're still beating retail so it's again it builds confidence not overconfidence not arrogance it's confidence and it builds tolerance by doing these exercises it builds a level of appreciation for what price could do against your position and you're tolerating that because you are accepting that you are human your entry points may be slightly off and it's okay because if you have the proper contact TT what the premise of the marketplace is is it bullish or bearish where should it trade to where is the magnet or Draw on liquidity that's what I mapped out for you that's the that's the missing link if you will that's the uh Holy Grail in technical analysis everyone else wants to show you tools and gadgets and things the only thing I'm showing you here is a defined measure of context the boxes are only showing you a specific dealing range and I'm teaching you inside of these things what should transpire what should take place look at the fact that we only went outside the range a little bit but look how it's respecting that that's not worthy you want to see those types of things now again had this happened before 10:00 I'd still be in the trade holding it and looking for continuation on the upside but because the time of day I have to follow the rules and the rules dictate that I have to be out because it's a day trade it's that's what this whole premise was now if was a uh one shot one kill we wouldn't even be talking about any of this we would have our stop loss below our entry still and we would just be waiting for a larger move on the upside but it's not I don't see it as such and I just framed it as a intraday exercise to teach tolerance and again focusing on the theme of open float like we did last week and here we are so hopefully you found this inight until I'll talk to you again next time wish good luck and good Trading