ICT Mentorship Core Content - Month 1 - Equilibrium Vs. Premium

Summary

このビデオスクリプトでは、株式市場でのプレミアム価格とイクイリブリアム価格の概念を比較分析しています。トレーダーは、価格のインパルススイングを探し、それをもとに大きなスイングを定義し、その範囲内で売買の戦略を立てます。フェイボナッチ回帰レベルを使って、62％から79％のリトレースメントレベルで売りエントリーの最適ポイントを見つけ、利益をとるポイントはスイングローの下方に設定することが推奨されています。デイリーチャートや時間単位のチャートにかかわらず、これらの戦略は市場のトレンドやコンソリデーションにかかわらず適用可能です。

Takeaways

• 📈 脚本は、ICTメンターシップの9月のセッション5で、エクイリブリアムとプレミアムを比較するトピックに焦点を当てています。
• 🔄 「エクイリブリアム対ディスカウント」の内容に基づいて、価格アクションにおいてエクイリブリアムとプレミアムは対照的な概念であると説明されています。
• 🏹 プレミアム市場を探査する際には、インパルス価格スイング（価格の急激な変動）を探し、それを大きなインパルススイングの一部として分析することが重要です。
• 📊 フィボナッチ回帰線は、価格範囲を定義するのに役立ち、特に高いポイントから価格の低いポイントへの引け目として使用されます。
• 🛑 オプティマルトレードエントリーポイントとして、フィボナッチの62％から79％のリトレースメントレベルが推奨されています。
• 🔄 市場がエクイリブリアム（50％のリトレースメントレベル）を超過し始めると、プレミアム市場に入ると判断され、売りの機会が提供されます。
• 📉 市場がエクイリブリアムを超過し、62％または79％のリトレースメントレベルに達すると、売りのシグナルが強化され、利益をとるためのポテンシャルが高まります。
• 💰 利益は、市場がスイングローから下落した際に取得され、利益確定ポイントは市場の古い低ポイントまたは新しい低ポイントの下に設定することが推奨されています。
• 📊 トレーダーは、価格スイングを測定し、それを使用して、エクイリブリアムとプレミアムのレベルを特定する必要があります。
• 🚫 トレーディングではバイアスを持ちません。市場が上昇、コンシリデーション、または反転しているかにかかわらず、レンジトレーディングの概念は同じです。
• 👨‍🏫 トレーディングの教訓は、新しいトレーダーにとって理解するのが難しいかもしれませんが、プロのトレーダーとしてこれらの概念を適用することは重要です。

Q & A

「プレミアム市場」と「イクイリブリアム市場」の違いは何ですか？

「プレミアム市場」とは、現在の取引範囲において非常に高価な価格レベルに達している市場であり、「イクイリブリアム市場」とは、価格がその範囲の半分（50％）のレベルに達した状態を指します。

「インパルス価格スイング」とは何を意味していますか？

「インパルス価格スイング」とは、価格の急激な動きを指し、これは通常、大きな価格変動を表すために使用されます。

Fibonacciレトロスペクションレベルとは何ですか？どのようにトレードに役立つか？

Fibonacciレトロスペクションレベルは、価格が過去の高値から低値へのスイングの特定の割合に戻るレベルを示す指標であり、トレーダーはこれらを使用してエントリーポイントやターゲットレベルを判断します。

「オプティマルトレードエントリー」とは何を意味していますか？

「オプティマルトレードエントリー」とは、Fibonacciの62％から79％のレベルで売買を行うことを意味しており、市場が非常に超買（または超売）の状態にあると予想されるレベルです。

「タートルスープ」とは何を意味していますか？

「タートルスープ」とは、市場が旧高を超えたときに売り信号を出すトレード戦略であり、これはターゲットとして旧低を設定します。

価格が「イクイリブリアム」を超えた場合、なぜ売りのチャンスがあるとみなされますか？

価格が「イクイリブリアム」を超えると、市場はその範囲のプレミアムレベルに入るため、超買状態にあり、売出のチャンスが高くなると考えられます。

スイングローが形成されると、なぜトレーダーはその4本目のキャンドルに注目しますか？

スイングローが形成されると、トレーダーは4本目のキャンドルに注目して、価格が高くなる意思があるかどうかを判断します。これは、価格が次の動きに向かっていることを示す可能性があるからです。

価格が「プレミアム」レベルに達した場合、なぜトレーダーは売り入れるべきですか？

価格が「プレミアム」レベルに達した場合、市場はその範囲で非常に高価であり、売りのチャンスが高くなると考えられます。これは、市場が過度に高騰しているため、売出が適切な戦略になる可能性があるからです。

トレーディングの範囲を定義する際に、価格スイングを使用する理由は何ですか？

価格スイングを使用してトレーディングの範囲を定義することで、価格の動きをより明確に把握し、買いや売りのエントリーポイントやターゲットをより正確に判断できます。

デイトレーダーではない場合でも、デイリーチャートを使用してトレードすることの利点は何ですか？

デイリーチャートを使用することで、トレーダーはより広い時間枠で市場の動きを分析し、必要な大きな価格変動を捕捉することができます。これは、短期的なチャートよりも多くのパイプを獲得する可能性があります。

Outlines

00:00

📈 株価のプレミアム対イクイリブム解析

この段落では、株価のイクイリブムとプレミアムを比較分析しています。イクイリブムは、株価が一定の範囲内で半分を超えることなくトレードされる状況を指し、プレミアムはその範囲内で価格が半分を超え、高値となる状況を指します。Fibonacciの retracement レベルを使って、トレードエントリーポイントを最適な62%から79%の範囲と定義し、そのレベルを超えた場合に売り信号を出す戦略について説明しています。また、価格の動きを3つの主要なインプラス価格スイングで分析し、それらが1つの大きなインプラススイングを形成する様子を解説しています。

05:02

📉 プレミアム市場でのトレード戦略

この段落では、プレミアム市場でのトレード戦略について詳しく説明しています。プレミアム市場とは、現在のトレーディング範囲で価格が半分を超えて高値に位置する市場を指し、そのような市場では62%から79%のFibonacci回帰レベルを超えた場合に売りトレードを行うことが最適であるとされています。また、価格がイクイリブムレベルを超え、プレミアム市場に入ると、売りシグナルが発生する理由や、その時に利益を確保するための戦略も解説されています。

10:06

📊 価格スイングとトレードエントリーの分析

この段落では、価格スイングを通じてトレードエントリーポイントを特定する方法について解説しています。価格スイングは、価格の動きを3つのキャンドルで特定し、その中で最も低い価格を基準にFibonacciを描画することで分析されます。さらに、価格がイクイリブムレベルを超え、62%から79%のトレーシングレベルに達した時に売りシグナルを出す理由や、利益を確保するためのターゲット設定方法についても説明しています。

15:08

💼 プロフェッショナルトレーダーのプレミアム価格戦略

この段落では、プロフェッショナルトレーダーがどのようにプレミアム価格で売りトレードを行うかについて解説しています。プレミアム価格とは、価格が現在のトレーディング範囲内で高値に位置することを指し、そのような価格帯で売りトレードを行う戦略について説明しています。また、価格が過去の高値を超えた時に売りシグナルが発生する理由や、利益を確保するためのスイングローのターゲット設定方法についても解説しています。

20:14

🗓 時間枠に依存しないトレードの普遍性

最後の段落では、トレードの戦略が時間枠に依存しない普遍性について強調しています。デイトレードやイントラデイトレード以外でも、同じ概念が適用可能であるとされ、トレードの範囲を定義し、その範囲内で売買を行う方法について解説しています。また、価格がイクイリブムを超え、プレミアム価格帯に入った場合の売りシグナルや、利益を確保するためのターゲット設定方法についても説明しています。

Keywords

💡プレミアム市場

プレミアム市場とは、現在の取引範囲において価格が非常に高額である市場を指します。ビデオでは、プレミアム市場が形成されると、価格はその範囲の半分を超え、過買状態に入ると説明されています。例えば、ビデオでは「市場が半分を超えるとプレミアム市場に入る」と述べ、価格が現在の取引範囲において非常に高い状態を指しています。

💡インプルス価格スイング

インプルス価格スイングとは、価格が一定の勢いを持って大幅に動いたことを指します。ビデオでは、価格の動きを分析する際に最初に探すべきものとして、この用語が使用されています。例えば、「最初のインプルス価格スイングを見つけてからレンジを定義する」と説明しており、価格の大きな動きを捉えるために重要な概念です。

💡フェイボナッチ

フェイボナッチは、価格の変動を予測するための技術分析のツールです。ビデオでは、フェイボナッチを使って価格の高値から安値への引き戻しレベルを分析し、トレードのエントリーポイントを特定すると説明されています。例えば、「フェイボナッチを使って最適なトレードエントリーポイントを見つける」と述べられており、トレーディング戦略に不可欠な要素です。

💡エクイリブリアム

エクイリブリアムは、価格レンジの半分を指し、ビデオでは価格がそのポイントに達することが重要です。エクイリブリアムを超えることで市場はプレミアム市場に入り、売出の機会を提供すると説明されています。例えば、「エクイリブリアムを超えるとプレミアム市場に入る」とビデオで述べられています。

💡トレードエントリーポイント

トレードエントリーポイントとは、売買を行う最適な価格ポイントを指します。ビデオでは、フェイボナッチの62％から79％の引き戻しレベルを使ってトレードエントリーポイントを見つけると説明されています。例えば、「62％から79％のフェイボナッチ引き戻しレベルが最適なトレードエントリーポイント」と述べられています。

💡オーバーボート

オーバーボートとは、価格が長期間高値を維持し続けた状態を指します。ビデオでは、市場がエクイリブリアムを超えるとオーバーボート状態に入り、売出の機会があると説明されています。例えば、「市場がエクイリブリアムを超えるとオーバーボートになり、売出の機会がある」とビデオで述べられています。

💡ストップロス

ストップロスとは、トレーダーが損失を制限するために設定する価格ポイントを指します。ビデオでは、市場がエクイリブリアムを超過し、古い高値を突破した際にストップロスがトリガーされると説明されています。例えば、「市場がエクイリブリアムを超過し古い高値を突破した際にストップロスがトリガーされる」とビデオで述べられています。

💡テイクプロフィット

テイクプロフィットとは、トレーダーが利益を確定させるための価格ポイントを指します。ビデオでは、市場がスイングローを突破した際にテイクプロフィットをとることが提案されています。例えば、「スイングローを突破した際にテイクプロフィットをとる」とビデオで述べられています。

💡コンシリデーション

コンシリデーションとは、価格が一定の範囲内で上下する状態を指します。ビデオでは、コンシリデーション市場ではレンジトレードが有効であると説明されています。例えば、「コンシリデーション市場ではレンジトレードが有効」とビデオで述べられています。

💡スイングロー

スイングローとは、価格が一定期間内に形成した安値を指します。ビデオでは、スイングローが形成されると、市場がそのレベルを下回り利益を確定する機会があると説明されています。例えば、「スイングローが形成されると市場がそのレベルを下回り利益を確定する」とビデオで述べられています。

Highlights

Session five focuses on the concept of 'equilibrium versus premium' in trading, contrasting with previous 'equilibrium versus discount' teachings.

The importance of identifying 'impulse price swings' in price action analysis is emphasized for defining trading ranges.

Fibonacci retracement levels, particularly the 62% to 79% range, are highlighted as optimal trade entry points.

The concept of 'equilibrium' is introduced as the 50% retracement level, which is critical for determining market state.

A 'premium market' is defined as one where prices exceed the 50% Fibonacci level, indicating an overbought condition.

The tutorial explains why the 50% retracement level is not always the best trading point, advocating for higher retracement levels.

Strategies for identifying and trading in 'premium' conditions are discussed, including selling at high price points relative to the trading range.

The use of smaller price swings within a larger price swing to find entry points is detailed, adding depth to the analysis.

The significance of 'turtle soup' cells in trading, where the market moves above equilibrium and through optimal trade entry levels, is explained.

Taking profits below established swing lows is recommended as a strategy for trades in premium conditions.

The concept of 'range trading' is introduced as a versatile approach applicable in trending, consolidating, or reversing markets.

The tutorial demonstrates how to use price action and Fibonacci levels to identify optimal short selling opportunities.

The importance of understanding and trading within defined ranges, regardless of market bias, is underscored.

The practical application of the concepts on higher time frame charts, such as daily or hourly, is discussed to illustrate versatility.

The tutorial concludes by emphasizing the universality of the taught concepts, applicable to both intraday and longer-term trading.

Transcripts

welcome back folks this is ict with a

fifth installment of the eight in the

continuing series for the first month of

the ict mentorship for the month of

september

uh the previous tutorial in session four

we looked at equilibrium versus discount

in this session we're looking at

equilibrium versus premium

we went through a great deal of content

in regards to

discount versus equilibrium so

we won't have to spend so much time with

this tutorial because everything we're

selling here is basically diametrically

opposed to what you would expect to see

in the equilibrium versus

discount

teaching

so looking at what we have

when we look for

premium markets markets that are in a

premium now when we talk about

commodities later on in this mentorship

uh the the topic of premium will come up

again

but when i'm referring to premium as it

relates to price action uh i'm actually

referring to the current range that

we're uh trading in

and

the first thing we look for is an

impulse price swing which is we have an

impulse price point here we have another

impulse price one here we have another

impulse price swing here

so the first thing we look for in price

is an impulse swing

and we see one here

we see another one here we see another

one here

and

these three

price swings actually make up one larger

price swing

which is an impulse leg or impulse swing

by itself by its own right

so

when we define our ranges

okay the use of the fibonacci is

helpful in this case because we can take

the fib draw from a high

down to a price low

and i'm using this low here because it's

the most

lowest

in contrast to this high

and price comes all the way back up

to what i have taught in many years

the optimal trade entry which is a

standard 79 to 60 retracement level on

the fib now i didn't create that

but

if it was just simply looking at

that alone 62 percent to 700 levels uh

looking for buys and sells there

everywhere we loaded it would be no no

work at all in terms of uh taking trades

but obviously you probably learned very

quickly there's much more to it than

just pulling a fib over top of price

swings

we have

in

this larger price swing we have a

smaller price swing here okay

and we have the high down to this low

and the market starts to retrace

equilibrium or half of the impulse price

swing

has to be at least touched and then once

it hits that we watch for price to reach

up into

this area here then there's other

disciplines out there and other mentors

other teachers will say that the 50

retracement level is a good level to

trade at based on price swings i don't

agree with that um i understand that

sometimes it's going to work but what i

want to do is i want to be selling at a

market that's at a premium level

for a market to be at a premium in this

current price range here and it's

assuming none of the price action from

this high

down all the way to the right has not

happened yet so you'd be watching price

in this initial range

and price did not get back up to the

midway point or 50 percent of the uh

the range that was created from the high

to low that's all equilibrium is is

fifty percent on the fit let's have to

tell them describing it but the concept

is is you have to see a

market price

a move above the halfway point once it

does that start it starts going into

what is referred to as a premium market

that means it's at a really high price

relative to its current trading range

we don't need overbought never sold

indicators to help us

classify an overvoter we're sold market

we just simply need to know the current

price range we're trading in and if we

get above the 50 level okay we start

getting into what would be deemed as

overbought or at a premium level

on this pricing here it obviously never

gets above the 50 and everything touches

it so it never gives us an opportunity

to get short

relative to this time frame or this

price swing

so there would be nothing to do there

the next price leg

here

okay the same thing from this high to

this low not nothing in terms of that

price swing there it doesn't get back up

to the 50 uh level but look closer

there's another smaller price swing that

has formed right in here

okay so we could look at that

measure the high

to the low and the market gets right to

a pre uh i'm sorry equilibrium but does

not stay above to go to a premium market

it only goes right to the fibonacci 50

level or what we deem as equilibrium so

price goes to an equilibrium price point

and then immediately sells off this

would be a missed opportunity in regards

to looking at

equilibrium to premium the reason why we

want to focus primarily on the 62 or 79

trace levels in that range to be selling

short

is because the market's going to be

really pressed higher and would be

really

in terms of overbought never sold it

would be very overbought and it would be

expecting a willingness to to sell

softer and go lower there's going to be

times when the market does not give that

scenario to you and you just got to let

those

particular price links go without you

the next price swing

is this high to this low market trades

back up to equilibrium here

and move this over so you can see a

little bit better

okay so market trades back to

equilibrium goes back above it into a

premium market

and it goes right on through

what would be deemed as an optimal trade

entry okay or selling at a premium so

here's a wonderful thing about this

you can look at this and say okay if i'm

measuring this high to this low

and i'm going to be selling i'm above

equilibrium i want to get short

in this area between 62 and 79 chasing

level okay

you look over here

maybe there's something over here

institutionally um in terms of a bearish

order block or something like that you

can define we're going to say that

that's not there we're going to say that

we went short just purely on price

action retracing back into the fibonacci

level here it comes all the way up and

hits you where your stop would be

when you see these conditions where the

market trades above equilibrium and goes

through the levels of 62 and 79 certain

trace levels what that does is it gives

you a condition that we saw

in the equilibrium to discount if it

takes out a previous low when it's in

discount it's probably going to be a

turtle suit by

in this case it's going to be a turtle

soup cell it's going to be reaching for

stops above

the impulse

swings high

and you see that here it goes up runs

out the stops here and then goes lower

where is it going to go where do you

take profits at below lows it's already

established in the marketplace here and

here you see that's exactly what the

market does

you can also use

when you're defining your ranges

all price swings from high down to low

okay you you want to anchor your your

fibonacci on

the market goes down from this high all

the way down to here okay and creates

that low

as soon as we start seeing it bounce up

you need four candles remember it's the

same thing we just saw on the

equilibrium to discount

teaching once you see a a swing low form

you're watching that fourth candle to

show willingness to go higher it does

but then you simply wait here's the

equilibrium price point this this fifty

percent level in the fifth

price goes through that so now you're

gonna be watching it you're gonna want

to see if price gets to sixty two the

seven tracing levels it does

and it does it while it's running out

that high here so two scenarios one you

could have used this high down to this

low and got a stop out

in the initial

uh 62 to 700 tracement levels where we

saw earlier but it ran right through it

if you had not anchored your fib to this

high to this low

you would never see this

optimal trade entry okay or return to a

premium to go short

is above the equilibrium price point and

it takes out an old high

so we're running stops at an old high

and we're going back into what would be

a premium market we're above the

equilibrium price point of the range

high

and the range low and we take stops out

that's really really good in terms of

probabilities and the market goes down

and sweeps out a previous low remember

when we were looking at the equilibrium

discount every time we were buying we

were taking profits at above an old high

okay so when you see that all we're

seeing is the reverse of that in the

equilibrium versus premium market so

we're always looking to sell at a

premium premium is defined by has to be

above the equilibrium price point or 50

50 level of the fibonacci anchored on a

swing of

clear

discernible price action in other words

if it looks sloppy if you if it doesn't

really look like a solid price swing and

obviously obvious price swings are the

ones we look at we're not looking at

anything it looks questionable if it's a

pure price swing we measure it and

this is a high

this is a low and we went through all

potential stages of all these high to

low high to low high low scenarios

really nice scenario here again taking

profits initially below this low here

when it would hit that and then you'd

hold out for a potential run for some of

your trade to be taken off below this

low here

now the market goes into another uh area

of

premium relative to equilibrium

we go back to this larger price swing

here

this low all up to this high the market

goes right into the 79

79 retracement level hits it perfectly

to the pit

and then rolls down where do you take

your profits at

you're gonna be looking to take profits

at below this low here

okay and into

the order block down in here which is

what you see right there

okay

you have another range

that you can use

this high

to this low

okay

now what's up what's really nice about

this is if the market's in a

consolidation this type of trading

is your go-to okay a long protractionary

state in the marketplace where it goes

up and down no no real movement higher

in one direction or lower in one

direction it just stays in a large

consolidation you want to be trading

turtle soups or understanding where

premium and discount are

if you have the high here and you pull

it down to the low here when the market

gets above equilibrium right in here it

goes right into the 17.5 or what would

be the optimal trade entry sweet spot

okay or ote

and the market is a sell-off there where

where do you look to take your profits

at

below and old low

or

below this low right there

every time the market makes a swing low

you have to take a look and it only

takes three candles this is why i do not

use the

williams uh fractal it requires five

candles i only need three candles so we

have a candle low here a lower candle

low here a small smaller little candle

in here

the market

blows through that that would be your uh

your target right there you would take

first profit then you would come back

and end up taking your stop out right

there now

if you get a stop

and say you don't take first profit the

slave doubles advocate for a moment say

you're greedy you're impatient you're

developing you just

don't want to do anything to take some

profits out

or it couldn't happen for you you didn't

do it like that the mark comes back and

takes your stop loss out

if you see that scenario

okay you're gonna be looking for old

highs to be breached

while we're above the fifty percent uh

level so we're in pre we're at a deep

premium okay so markets are overbought

right in here the market runs through

this previous high so we're in turtle

soup scenario

we could be looking for turtle soup

cells

mark comes up starts to come down

one more time runs through you takes

your stop out again this is going to

happen in your trading

do not try to avoid it because it's

going to happen

same scenario

we have an old high mark goes back above

it if it's at a premium

and you've defined the range here

you take this scenario as a cell on

turtle suit basis

for each above an old high sell short

we're going to take profits at below the

first low that's here the next low is

right here

then we have another range created here

so while we're watching this form soon

as we see a swing low form this candle

here we know they're probably going to

want to run back up into this range here

now we have a new range

the impulse price swing

is this high

down to this low

here's equilibrium price expands to

equilibrium once we start seeing that we

watch does it get to 62 it does the

bodies of the candle stop perfectly

right there you could sell short right

there what's nice is you're going to see

the bottom of this candle is up candle

that's a bearish overblock which you'll

learn more about

that's a cell by itself where you look

to take profits at below the old low

right in here

it goes right down below that and does

what

trades back up higher

if we use the price swing

from that high we just anchored two to

this low

the same thing occurs here we have this

high all the way down to this price low

price comes all up into the 79 trace

level above equilibrium we start

watching it now we're in an area where

the price is going into equilibrium i'm

sorry from equilibrium up into premium

okay premium is above equilibrium in a

range that's been defined from high to

low

and look what's happening we're running

out an area of stops above it or high

again very very good

uh probabilities for getting short

take that as a turtle suit inside of a

premium based market

and you could look to take profits on a

swing low

here's your swing low here the market

trades down through that you'd have to

take profits below here

market trades down in two

small little consolidation here and i'm

not going to define anything else that's

in this chart because i could do all

kinds of other things to it would look

like sugar coating but

you'll learn other things to look at and

it has to do with this can over here

so we'll refer to this candle later on

and uh

recapitalize bullish shoulder blocks and

bear shorter blocks but

the market creates another range

this high down to this low here

so this high down to this low market

goes above equilibrium here where is it

going to go to we want to watch it go to

at least 62 percent tracing level it

does that goes right after the 70.5 ote

optimal trade entry and then sells off

where you take profits at below swing

low right here's the swing low take

profits right there now they're not

astronomical trades okay they're not

enormous trades but

to get short in here at 98 big figure

and covering below the low on this

candle here at 96.94 that's over 100

pips

nothing wrong with that this is a daily

chart we're trading off of

again this is helping these folks that

cannot be doing

day trades okay you don't need a great

deal of movement

on a daily chart to make a decent amount

of pips we're going to go back to this

high

and use that same old low here okay

from this high down to this low if you

went short here based on stop run above

here and we're at a premium we're above

the equilibrium we've defined our range

we're looking to sell into strength it's

scary when you first start looking at it

as a new trader

but that's exactly what you want to be

doing as a professional trader you want

to be selling at premium prices

think about it you could sell something

if you own it say you own a car and you

want to sell your car do you want to

sell it at a discount that doesn't make

any sense you want to sell at a premium

so professional traders sell their long

positions or they sell new short

positions at premium prices

ain't no better place in the world to

sell short or sell longs above an old

high because there's going to be willing

buyers right there in the form of buy

stops

so when we see this area here we get

short

from this area here going short and if

you just took profits once this low

formed

that low comes in at

39 97 39 and the open is

97.99 so we're going to say we went

short somewhere around about 98 big

figure the low comes in at 97.39 so that

means your stop i'm sorry your limit

order take profits would be below 97.39

so you get the low here say you're

aiming for 10 pips below that low

below this low right here

you'd be looking for

97.29 roughly 97 30.

that's 70 pips using a setup that's on a

daily chart you're not interested

trading you're not looking at five

minutes 15 minute charts you know you're

not you're not being forced to do what

ict does most of his teachings through

intraday uh trading but the same

concepts appear in these higher time

frame charts so don't discount it that

i'm teaching you in a 15-minute basis

because all the concepts are universal

and i know it's hard for you to

understand that as a new trader because

it just seems like i can't be watching

that chart so therefore i can't trade

that's not true that's not true at all

so

by having these ideas

of looking at price over the course of a

premium market if we go down to a

say we go down to an hourly chart

okay and what's nice is you don't have

to trade with a bias

most people are always asking me hey

looking can you give me a a a way of

trading with a a daily bias give me the

trend direction michael i need to know

that well you don't really need to know

that you don't need to know it

and the reason why you don't need to

know it is because you need to know how

to trade inside of a range

because those ranges are always there

whether you're in a trending market

whether you're in consolidation or

whether in a reversal market

those profiles will always give you

ranges to trade in and you don't need to

break out of the range to make money

we have a swing high here

why am i using that swing high michael

not this one here not this one here

because this is the most recent one

prior to this down move i could use this

one here but i'm going to use this

because it has more price action around

it

this high

down to the lowest low okay market

trades up to the equilibrium in here

okay does it get to premium no it

doesn't get up there yet it comes down

off of this a little bit then trades

right up into 79 tradesmen level right

in here

closes in a range which we'll talk about

in the next teaching

over here

the market sale that sells off

and where you're going to be looking to

take profits at you have a small little

swing low here you have a certain real

good swing low here

so if you're getting short up here

and on an hourly basis

say we got short at 97.70

nice round number

to get out that level here's 42 pips to

get out below this low here 60 pips so

if you go 10 pips below that

that'll give you

oh

nice 70 pips

and give you a nice 70 pips and there

look at the reaction

going 10 pips below here yeah this range

low

from that high up here where we would

have been selling at based on the

concepts again it's all hypothetical in

hindsight here but the conceptual idea

is the same going forward

range is 60 pips 10 pips below will be

70. you got at least four pips below

that for uh for spread to take you out

and absolutely does that and it doesn't

go very much a little at all