ICT 2024 Mentorship \ Lecture #12 August 19, 2024(Wizard Version)

Summary

In this episode, the speaker discusses trading strategies focusing on the Jackson Hall Symposium and its impact on market behavior, especially on TGIF days. They emphasize the importance of recognizing market patterns like the P3, institutional order flow, and the lunch macro for effective trading. The speaker also highlights the significance of observing these patterns over time to build confidence before executing trades, aiming for long-term bullish outcomes.

Takeaways

• 📅 Jackson Hall Symposium: The speaker suggests keeping an eye on the calendar for news around Wednesday, Thursday, or Friday, which can affect market behavior, completing the 'TGIF' cycle.
• 👍 Subscribe Reminder: The speaker reminds viewers to subscribe to their channel and give a thumbs up if they are new to the series.
• 📉 Non-Farm Payroll (NFP) Week: The speaker mentions that if the market has shown TGIF on any of those days, it's considered a 'nonform Peril' week with low trading probability.
• 📈 ICT's Long-Term Bullish Outlook: The speaker states that ICT is long-term bullish and is not looking for sell opportunities unless there are unexpected geopolitical events.
• 🛑 Trading Strategy: The speaker explains that ICT uses different contract sizes for buy and sell positions, with larger contracts for buys and smaller for sells.
• 📊 Price Action Analysis: The speaker discusses the importance of understanding price action, specifically targeting the minimum of a water block as the first target for trades.
• 📝 Volume Imbalance: The speaker highlights the significance of recognizing volume imbalances on the daily chart as part of the long-term target for trades.
• 🕒 Trading Timeframes: The speaker emphasizes the importance of trading within specific timeframes, such as holding trades until 3 p.m. for optimal results.
• 📉 Lunch Macro: The speaker introduces the concept of the 'lunch macro', a period between 11:30 a.m. and 1:30 p.m. where the market may create a low to stop out profitable traders.
• 📈 Algorithmic Price Action: The speaker mentions that the market may use algorithmic trading to reach certain highs or lows, especially around 3:45 p.m. to close business for the day.
• 🚀 Building Confidence: The speaker advises viewers to observe the market patterns month after month to build confidence before executing trades based on the discussed strategies.

Q & A

What is the main topic of the video?

The main topic of the video is the explanation of the presenter's understanding of certain trading concepts and strategies, specifically focusing on the Jackson Hall Symposium and the TGIF market pattern.

What is the Jackson Hall Symposium mentioned in the video?

The Jackson Hall Symposium is an event that the presenter suggests provides important market news, which can be found on the calendar and influences the market's TGIF pattern.

What does TGIF stand for in the context of the video?

In the context of the video, TGIF stands for Wednesday, Thursday, and Friday, which are the days the presenter suggests to watch for market completion of certain patterns.

What is the significance of the TGF in the video?

TGF is a term that the presenter mentions but does not explain in the video, indicating it is important for identifying nonform Peril weeks and for trading strategies, with a fuller explanation to be given in a future video.

Why does the presenter suggest focusing on Mondays for trading?

The presenter suggests focusing on Mondays because they believe that is when the highest probability of significant price action will occur, especially in nonform Peril weeks.

What does the presenter mean by 'long-term bullish' in the context of ICT?

The presenter means that ICT has a positive long-term outlook on the market, implying that they are generally looking for buying opportunities rather than selling.

What is the significance of the extreme contract size for buy and the lowest contract size for sell in the video?

The presenter explains that when ICT is looking to buy, they use the extreme contract size, but when looking to sell, they use the lowest contract size, indicating a difference in the level of commitment to the trade based on market direction.

What is the P3 that the presenter refers to in the video?

P3, as referred to in the video, seems to be a specific price action pattern or strategy that the presenter uses to predict market movements, which involves observing the market's opening and subsequent behavior.

What is the importance of the 9:30 candle in the trading strategy discussed in the video?

The 9:30 candle is significant in the presenter's trading strategy as it represents the opening price of the market after 9:30 AM, which is used to identify entry points for trades.

What does the presenter mean by 'institutional order flow' and 'buy side liquidity'?

The presenter refers to 'institutional order flow' as the market movement driven by large institutional trades, and 'buy side liquidity' as the point at which the market has enough buying pressure to reverse a downward trend.

What is the 'lunch macro' mentioned in the video, and how does it affect trading?

The 'lunch macro' refers to the market behavior between 11:30 AM and 1:30 PM, during which the presenter suggests that the market may create a downward movement to stop out profitable buyers, allowing for a potential reversal.

What is the significance of the 3 p.m. and 3:45 p.m. time frames in the video?

The 3 p.m. and 3:45 p.m. time frames are significant as they are presented as key times for the market to complete its business for the day, with the potential for significant price movements or reversals.

How does the presenter suggest building confidence in trading strategies?

The presenter suggests observing the trading patterns month after month to build confidence before executing trades, rather than blindly following strategies without understanding.