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ICT > ICT Month 8 | 2016 > Flashcards

ICT Month 8 | 2016 Flashcards

1
Q

What frames the Daily Setups?

A
  • HTF Institutional Order Flow (MWD PD arrays in the last 20-40-60 trading days)
  • IPDA seeking new price levels for liquidity
  • Weekly chart current candle direction
  • Day of the week (Certain days of the week are higher probability)
  • Time of the day
  • Volatility Expansion or large range days that is what I am focusing on.
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2
Q

When is LOKZ, When the hotspot and what to pair it up with economic calendar?

A

London Session is from 1AM to 5AM (4h window) but the sweet spot is from 2AM to 4AM.

Looking for some kind of economic calendar because there should be some kind of manipulation JUST BEFORE or AT the time of news release (medium or high impact)

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3
Q

When should I avoid New York Session in reference to London Session?

A

NY Session is generally easy one to trade but I should avoid it when London Session puts in 80% of the 5 day ADR because then price could bounce around and go sideways or even reverse.

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4
Q

What should I do in LCKZ and what can LCKZ in regards to HTF?

A
  • LCKZ primary for taking profits
  • Many times it cna be used as a entry point for longer term OSOK or Swing or Position Trade.
  • LCKZ can cap the daily range or be used to get in sync with the HTF.
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5
Q

When should I focus on the NYCKZ?

A

Focus on the NYCK, the time window from 14:00 to 15:00, only when there is FOMC or Interest Rate news event coming out at 14:000 and the move will usually run till 15:00

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6
Q

Which pairs could form the high or low in asia and what is otherwise characteristic of Asia?

A
  • Asia is typically or should be consolidaiton -> building flout.
  • Asian pairs (AUD, NZD, JPY) can form a high or low during the asian session.
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7
Q

When is London lunch and what are the charasteristics of it?

A
  • 5AM to 7AM -> either retracement or consolidation
  • market usually goes quiet to prepare for the next leg that London has created or GO into reversal (IF HTF Array reached)
  • London after 5AM I want to anticipate mode of retracement or consolidation.
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8
Q

What is typical for Sunday?

A

Generally I should leave it of my daytrading because the daily range is usually to small?

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9
Q

What is typical for Monday?

A
  • can create small range normally
  • If large range day and Mon Trades into HTF PD array cna create high/low of the week
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10
Q

What is typical for Tuesday?

A
  • usually good day to day trade
  • Tuesday has 70% chance to create the low or high of the week in London
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11
Q

What is typical for Wednesday?

A

Generally ideal trading is seen because I have some data mid week.

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12
Q

What is typical for Thursday?

A
  • Generally ideal day but can reverse
  • Usually the weekly range is capped by Thursday New York Session
  • Price could reverse the week on Thursday during New York or London Close
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13
Q

What is typical for Friday?

A
  • Typically small range day closing a week.
  • But if there are objectives that have not been met by Thursday - Friday could be expansion.
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14
Q

For the weekly candle on which Opening prices should I be focusing?

A
  • Focusing on Sunday Open (drawing it out till Thursday, because Thursday price could reverse)
  • Monday Open (ICT preffered way)
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15
Q

How is Weekly Opening price (Sunday open or Monday open) going to help me in bearish scenarios?

A

Sunday Opening Price filter, look for price ot trade above this level early in the week for the weekly judas swing.

Selling short at the Premium array and selling short until price has reached a HTF Discount Array M W D.

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16
Q

How is Weekly Opening price (Sunday open or Monday open) going to help me in bullish scenarios?

A

Sunday Opening Price Filter - look for price to trade BELOW the level early in the week (weekly judas swing lower Monday or Tuesday).

Buying long until HTF PD array is traded to M W D.

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17
Q

On which specific time I should be focusing during NY Session?

A

Focusing on the 8.20 as that is CME opening that is generally going to be the setup in New York.

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18
Q

When is the retail Trading day?

A

From 0GMT Monday till 0GMT Tuesday. That is the retail 24h trading day and it is different from IPDA trading day.

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19
Q

When is the Asian Range?

A

Asian range from 20:00 till NY midnight

*In some teachings ICT defines Asian Range from 19:00 till NY midnight.

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20
Q

When is London Open KZ?

A

From 1AM to 5AM.
*Sweet spot is from 2AM to 4AM.

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21
Q

When is New York KZ?

A

From 7AM till 10AM.
ICT in focusing on the 6AM till 10AM 4h window.

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22
Q

When is London Close KZ?

A

Everyday from 10AM till 12PM.

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23
Q

What is IPDA True Day definition?

A

Begin is at 12AM or NY Midnight.
Close is at 15:00 when the Bond market closes.

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24
Q

When are important turning points during the day most likely occur?

A

During the specific Killzones - London, New York, London Close - that is when turning points intraday are most likely going to occur.

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25
Q
A
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26
Q

What should I be anticipating to happen during London Lunch?

A

Not anticipating for any major market moves higher or lower. Market will generall go into consolidation or retracement.

27
Q

When is NYCKZ going to make a move?

A

NYCKZ from 14:00 till 15:00 is purely going to make a move that is FOMC or Interest Rate related. The bulk of the move will generally end till 15:00.

28
Q

In regards to CBDR where are most sell days going to create HOD or LOD and where are ideal sell days going to create HOD or LOD?

A
  • Most sell days create HOD from CBDR up to 3 STD
  • Most buy days create LOD from CBDR down to 3STD
  • IDEAL sell days create HOD no more than 2 STD above CBDR. Many times just 1 STD
  • IDEAL buy days create LOD no more than 2 STD below CBDR. Many times just 1 STD.
29
Q

What is significant about 4 STD of the CBDR?

A
  • 4 STD HOD or LOD is going to be on the heels of very high impact news event during London.
  • Price can go up or down to 4 STD of CBDR to create New York Market Reversal profile.
30
Q

Which times define CBDR and what are some of the ideal ranges for CBDR or Characteristics.?

A

From 14:00 till 20:00. Ideal range is less than 40 pips preferably between 20 to 30 pips total high to low. Ranges larger than 30 pips not ideal for projections.

Calibrating the range based on BODIES of the candles AND WICKS.

31
Q

What is the main purpose of CBDR?

A

The main purpose of CBDR is to catch the HOD or LOD. Mainly using CBDR to predict where the high or low during the London is going to form.

Idealy STD of the CBDR should be overlaping with some PD array (OB or FVG etc.)

32
Q

Does ICT preffer bodies or wicks when using the CBDR?

A

ICT likes to use the BODIES of the candles for CBDR, as wicks are manipulation and are not going to be the same on every broker. If I am going to focus primary on the BODIES of the candles I am going to get much closer feedback to what SM is doing.

BODIES of the candles = CLEAR picture of what accumulation and distribution of SM is going ot be.

But I still have to do my CBDR analysis on the wicks.

33
Q

Price trades 2 STD of the CBDR higher to create HOD how can I now measure that range to catch the LOD?

A

I have to look at how much of the STD did we see (2STD in this case) and then I have to project that whole range from CBDR low to the judas swing high (created during london) lower to see where price might want to trade to.

Blending that concept with TIME of day, as anticipated LCKZ is when usually the opposite end of the daily range is going to form.

But also taking a look at the 15:00 time window as that is the end of IPDA True day and sometimes that window can form LOD.

And ideally those STD should be overalpping with some PD array.

34
Q

Price trades 1 STD of the CBDR lower to create LOD how can I now measure that range to catch the LOD.

A

I have to measure the whole range from CBDR high to the Judas swing low (formed during london) and project it higher. Then blend it with TIME x PRICE. Meaning focusing on the Time element and anticipating LCKZ to form the opposite end of the daily range.

Blending it with Price meaning ideally there has to be some PD array overlapping with those STD projected higher.

Meaning I am looking for CBDR STD to overlap with some PD array.

There is no magic in projecting highr or low of the day it is just blending TIME (Time of day) with PRICE (PD array matrix) and CBDR STD.

35
Q

When bearish what is the key in CBDR STD going higher?

A

How many STD does the CBDR go up that is my key and then it should go that many blocks lower UNTIL it reaches the time of the day where I anticipate the range to CAP.

36
Q

When bullish what is the key in CBDR STD going lower?

A

How many STD does CBDR go down that is my KEY and then it should go that many STD higher UNTIL it reaches the time of the day where I anticipate the range to CAP.

37
Q

What are the characteristics of Sell London Normal Protraction?

A
  • CBDR less than 40 pips
  • Asian range 20 to 30 pips
  • Market WILL rally higher 12AM to 2AM NY time
  • Judas swing 1 to 2 STD of CBDR

Asian Rage and CBDR have to be in tight consolidation for Open Float to build and are filters for this Profile. Another Filter is that there has to be JUDAS Swing right after 12:00AM going into 2AM NY time. The entry could occur as early as 1:30AM. Sweet Spot for high to form is between 2AM and 4AM.

38
Q

What is the filter for my Sell London Normal Protraction?

A
  • if the judas swing does not start right after Ny midnight going into 2AM it is NOT this profile.
  • CBDR bigger than 40 pips -> no time for open float to build BUT IF ASIAN RANGE goes into small consolidaiton 20 to 30 pips this can still be this profile

IF Asian Range and CBDR are not in consolidaiton that is indication there was no TIME for OPEN FLOAT to build and it is most likely NOT going to be this market profile.

39
Q

What are the characteristics of Sell London Delayed Protraction?

A
  • CBDR could be larger than 40 pips
  • BIAS bearish protraction delayed
  • IPDA will enter protraction stage after 2AM NY time.
  • Look for Intraday Premium arrays to short on.

Key here is to wait for the 2AM protraction there HAS TO BE rally higher tradin into the Prmeium PD Array on m15 TF

40
Q

What are the characteristics of Buy London Normal Protraction?

A
  • CBDR less than 40 pips
  • Asian Range is 20 to 30 pips
  • Market declines down AFTER 12AM NY time into 2AM NY Midnight -> that is the FINGERPRINT that IPDA is doing what I am outlining HERE.
  • Protraction Stage (Judas Swing) will be 1 to 2 STD of CBDR overlaping with some PD array.

If there is no decline lower right after NY Midnight into 2AM THEN it is not this profile.
Market can start with consolidaiton or move higher after 12AM NY BUT IT HAS TO TURN PASS 1AM going lower into 2AM ideally into KEY HTF PD ARRAY.

41
Q

What are the characteristics of BUY London Delayed Protraction?

A
  • The market may or may NOT have favorable CBDR (could be more than 40 pips)
  • BIAS is bullish protraction is delayed.
  • IPDA will enter Protraction STAGE shortly after 2AM NY. Meaning price will first move higher with the bias and then delayed judas swing will take place after 2AM.
  • Look for at intraday Discount PD Array to buy the retracement from.
42
Q

How should I approach the new day when looking at the market profiles that could be unfolding?

A

First always look for the London Normal Protraction but if that is not there then look for delayed protraction london profile.

Protraction lower from NY midnight oging into 2AM AND IF THAT DFOES NO HAPPEN then look for London Delayed protraction.

43
Q

When to avoid London Session?

A
  • After a lrage range day which is 2 times greater than 5 day ADR -> London could be choppy or consolidation
  • After a seris of 3 consecutive UP closes on D TF - avoid longs because it could be deeper retracement or pause (consolidation)
  • After a series of 3 consecutive DOWN closes on D TF - avoid shorts becuase London could be deep retracement or consolidaiton
  • AFTER FOMC that produces extreme whipsaw or large range. FOMC at 14:00 is then generally going to mess up the CBDR (open float) and potentially London Session
  • AHEAD of NFP numbers. If NFP on Friday then DO not trade Friday London session.
  • Same trading day when heading into long weeked - holiday. Money will be sitting on sidelines.
  • Multiple High or Medium Impact news drivers for that market. That can set up trick London Session. Generally I want to see 1 High Impact news event to cause manipulation for that day and then the profit release portion rest of the day.
  • An absance of Any news during London can be wildcard. Cna be easy or whipsaw.
44
Q

What Characteristics Do I look for to Avoid London?

A
  • If CBDR larger than 50 pips. possibly pass lonod but look what Asia does
  • If Asian Range bigger than 40 pips. Consider delayed protraction
  • The market starts a sustained rally or delcine from 8PM NY. Poor London session as move started at 0GMT. London could offer retracement or be sloppy.
  • If CBDR and or Asia are NOT consolidating. IF not consolidation = Not allowing Open Float (Liquidity) to build. Check 15min TF if there is small narrow range on CBDR and Asia.
  • TRADE the days when banks “HOLD” consolidate Asia & CBDR for Open Float.
45
Q

What is the business of Intraday?

A

Accumulation - Manipulation and Distribution is the business of Intraday. Intraday is when banks can manipulate (knock people out), push orders, build false sentiment ideas etc. I am looking for orders to accumulate in marketplace (consolidation during asia and CBDR)

BIAS has to be determined on D TF and 4h TF that is high probability + IPDA Data ranges.

First MOVE is always going to be manipulation taking price higher or lower to take out the initial buyers or sellers THEN the MMs will distribute those positions near low or high of the day.

46
Q

When is LOKZ Ideal?

A
  • Daily Chart Respecting PD Array. Indication of clear IOF. There has to be direction on D TF and/or 4h as that are the TFs where I get my BIAS from.
  • The market has recently responded off a HTF PD array & Not meet an opposing PD array. Example: Monday trading into bullish OB D TF, expansion higher seen. Tuesday London has still not traded into premium meaning price might continue higher.
  • When market is poised to trade higher on D TF and 4h TF London Longs are ideal.
  • When market is poised to trade lower on D TF and 4h TF London shorts are ideal
  • When the daily range hsa NOT recently exceeded its 5 day ADR -> Expansion Day is due to form. Small ranges before the big ranges. Consolidaiton before the expansion.

When Market is clear Meaning HTF (D or 4h) direaction is clear and Asian range & CBDR are clearly in consolidaiton.

47
Q

What makes daytrades high probability?

A

The most important thing is the next most likely direction HIGHER or LOWER on the D TF and/or 4h TD and from which level to targeting which level.

48
Q

When Daily and 4h Direction is bulllish which high to low ranges should I use for buying?

A
  • PDL to PDH for retracement entries
  • Previous Day NY low to PDH for retracement entries
  • use PDL for sell stop raid to accumulate those shorts

Anticipating a move from HTF Discount to Premium Array.

49
Q

When Daily and 4h Direction is bearish which high to low ranges should I use for buying?

A
  • PDH to PDL for retracement entries
  • Previous Day NY high to PDL for retracement entries
  • use PDH for buy stop raid to accumulate those longs.

Anticipating a move from HTF Discount to Premium Array.

50
Q

Which swings should I keep my eye on for Daytrade setups

A
  • PDL to PDH
  • Previous day NY Session to NY High
  • Previous day London Low to London High

Ideally pairing those swing points with some HTF PD array. For example just below the NY Low there is bullish OB and FVG -> IDEAL.

51
Q

When are stop raids (stop hunts) generally going to occur?

A

PDH & PDL stop raids are generally going to occur when there is an END to the most recent MOVE. Meaning stop raid when current direction is ending and market will move in the opposite direction.

Before every major market move there is going to be a stop hunt.

52
Q

When DO I look to buy daytrades?

A
  • Ideal bullish seasonal tendency
  • When the curent or new quarter is expected to be bullish
  • After Daily chart has reacted positively on a Discount PDA.
  • When price has clear and with no resistance path to an opposing Premium Array.
  • Ideal buying on Mon, Tue, Wed
  • CBDR less than 40pips; Asian range less than 30 pips.
  • Buying between 2AM and 4AM NY Time (London Sweet Spot)
  • Buying 1 to 2 STD of CBDR and/or Asia coupled with Discount PDA.
    *
53
Q

Where do I look to buy daytrades?

A
  • Under Asian Range low
  • FVG below STL From Previous Day NY Session.
  • +OB below STL either previous day or day.
  • If Very bullish - 1 STD below CBDR or Asian range with ANY PD array during LOKZ
  • Inside protraction lower 12AM to 2AM into any Discount PDA
  • FIlling of Liquidity Void that is under STL.
  • If after rally post 12:00AM - Buy the first retracement into 15min or 5min bullish OB
  • 1-2 STD in Asian Range coupled with Discount PD Array
  • If STL is taken out twice but there has been no upside → buy turtle soup

This are ICT favorite setups. ICT loves them when it comes to LOKZ.

54
Q

Where should I place my Stop Loss in Buy Daytrades?

A
  • Whatever I use as initial Stoploss - Do NOT rush moving it!!
  • If trading CBDR overlap with PDA → Stop has to be 30 pips below entry
  • IF trading a Run under Asian Range Low → Stop is 40 pips under entry
  • If trading the 1st retracement into bullish OB → my SL is 10 pips under LOD
  • If trading Any Sell Stop Raid → 30 pips under the low or entry I am using. using Low as the entry, 30 pips below low is my SL.
  • IF trading second return for Sell Stops → 30 pips under the LOD
  • If Trading any other setup not described above - use 50% ADR of the last 5 days subtract from Asian Range Low.
55
Q

Where should I take profits in Buy Daytrades?

A
  • Always take something off in gain 20 to 30 pips ALWAYS
  • Look to scale something off every 2 STD of the Asian Range or CBDR
  • Take something off at PDH + 5 to 15pips. Could be reversal or retracement
  • Take something off at 50% of the price range I am trading on inside 60min TF. Price is at EQ could be impactfull (could reverse)
  • Take or have 60 to 80% off at 5day ADR projections … Always
  • If trading higher than PWH or PMH - take something off (could be turtle soup)
  • In Time of Day - scale off something at 5AM or just before 5AM NY Time
  • In Time of Day - scale out at STH prior to 7AM NYO
  • In Time of Day - scale out at 10AM to 11AM NY time in rally
  • Ideally any of the above scenarios coupled with a Premium PD Array.
  • Any level on the fib 1.27, 1.68 and 2 could be profit taking area
56
Q

When do I look to Short Daytrades?

A
  • Idelly seasonal tendency is bearish (not required)
  • When the current Quarter or new Quarter is expected to be Bearish
  • After a Daily Chart has reacted positively on a Premium PDA.
  • When price has clear and with not obstacles path to an opposing Discount Array (LRLR)
  • The Ideal Days of the week for shorting are → Mon, Tue, Wed
  • CBDR less than 40 pips; Asian Range less than 20 pips
  • Shorting between 2AM to 4AM New York Time (catching HOD during sweet spot)
  • Shoring 1 to 2 STD of CBDR and or Asian Range coupled with a Premium PDA
57
Q

Where do I look to Short Daytrades?

A
  • Above Asian Range high
  • FVG above a STH from Previous Day NY Session
  • Bearish OB above STH either Previous Day or Today
  • If very bearish → Trade SHORT at 1 STD above CBDR or Asian Range with ANY Premium PD Array while in London Open KZ
  • Inside the Protraction higher post 12:00 AM to 2AM with Premium PD Array
  • Filling of Liquidity Void that completes above a STH
  • If after drop post 12:00AM - Sell the first retracement into 15min or 5min bearish OB
  • 1-2 STD in Asian Range coupled with Premium PD Array
  • If STH is taken out twice but there has been NO downside → sell turtle soup
58
Q

Where should I place my Stoploss in Short Daytrades?

A
  • Whatever I use as initial Stoploss - Do NOT rush moving it!!
  • If trading CBDR overlap with PDA → Stop has to be 30 pips above entry
  • IF trading a Run above Asian Range High → Stop is 40 pips above entry
  • If trading Any Buy Stop Raid → 30 pips above the high or entry I am using. using high as the entry, 30 pips above high is my SL.
  • If trading the 1st retracement into bearish OB → my SL is 10 pips above HOD
  • IF trading second return for Buy Stops [Turtle Soup] and there has been no rally lower after Midnight → 30 pips above HOD
  • If Trading any other setup not described above - use 50% ADR of the last 5 days added to Asian Range High.
59
Q

Where should i take profits in Short Daytrades?

A
  • Always take something off in gain at 20 to 30 pips ALWAYS
  • Look to scale something off every 2 STD of the Asian Range or CBDR
  • Take something off at PDL minus 5 to 15pips (could reverse)
  • Take something off at 50% of the price range I am trading on inside 60min TF. (EQ could be key level for reversal etc)
  • Take or have 60 to 80% off at 5day ADR projections … Always
  • If trading lower than PWL or PML - take something off (could be reversal)
  • In Time of Day - scale off something at 5AM or prior 5AM NY Time
  • In Time of Day - scale out at STL prior to 7AM NY Open
  • In Time of Day - scale out at 10AM to 11AM NY time in decline
  • Ideally any of the above scenarios coupled with a Discount PD Array.
  • Any level on the fib 1.27, 1.68 and 2 could be profit taking area
60
Q

There are two essentials times of the day IPDA refers to “Reset” which times are those?

A

0GMT and New York Midnigth Open.

61
Q

How does bullish PO3 look like?

A

open small little wick below opening price and then expansion higher, anticipating close near the high.
Open near one extreme of daily range. Close near other extreme of daily range.

62
Q

How does bearish PO3 look like?

A

For Bearish → open small wick above opening price, then expansion lower and closing near the low of the day.Open near one extreme of daily range. Close near other extreme of daily range.

63
Q

How should I approach PO3 when bullish?

A

When looking at PO3? I am really looking at the opening Price and waiting for the opposite to occur (waiting for Protraction lower) in daily range.

But how much lower can the protraction go? that is where Opening priec (0GMT and NY Midnight come in play)

Protraction lower to seek liquidity to make a move higher.

The key is I have already seen price respond well from a daily discount PD array previous day.

64
Q

How should I approach PO3 when bearish?

A

When looking at PO3? I am really looking at the opening Price and waiting for the opposite to occur (waiting for Protraction higher) in daily range.

But how much higher can the protraction go? that is where Opening priec (0GMT and NY Midnight come in play)

Protraction higher to seek liquidity to make a move lower.

The key is I have already seen price respond well from a daily bearish PD array previous day.

ICT (15 decks)

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