YT YouTube2Text

YouTube2Text → Transcripts → YouTube transcript (JmAJfuSkY1g)

YouTube transcript (JmAJfuSkY1g) — Transcript

3,764 words · 755 segments · language en · Watch on YouTube

Open in transcriber Summarize with AI Download SRT/VTT

Full transcript

0:01My folks, welcome back.
0:02Quick little review here.
0:06Yesterday, I was showing you how
0:08when price was meandering around here,
0:10the open on this candlestick is the
0:13bearish order block.
0:15And we saw how that was implemented
0:17during
0:19yesterday's uh
0:21commentary.
0:23And then we had
0:27this idea of you know,
0:29because this candlestick's larger and
0:32longer than this one here,
0:35my order block theory is the last up
0:38close candle,
0:41if it's the largest one,
0:46consecutive candles
0:50make one order block.
0:52But this opening here,
0:55it's not
0:56important.
0:57It's not pertinent to the idea
0:59of what price may or may not do
1:02unless
1:03price gets below it.
1:05Then that'll act as a change in the
1:07state of delivery as well.
1:09So, if we do this,
1:14there.
1:20Right there. Okay.
1:22And we'll make it red.
1:26You'll see how it appeared in my
1:27execution video. Okay?
1:30And
1:32looking to the left,
1:34we don't have any inefficiency, right?
1:38So, what do we look at?
1:40Well, the old man says,
1:43if there's a wick,
1:44you have to grade that.
1:46So, we have that here.
2:02>> Can you see that?
2:04So, here's consequent encroachment of
2:06this wick right there.
2:09Right?
2:11So,
2:13as the market moves lower,
2:16it can reach down into this.
2:19And if it closes below this,
2:22that warrants what? Continuation going
2:24lower.
2:25But if it doesn't,
2:28then it doesn't warrant lower yet.
2:30It can retrace, it can consolidate, or
2:32reverse.
2:35Okay? So,
2:37with this idea here, we're going to drop
2:39down into the 1-minute time frame.
2:42Otherwise, if I don't
2:43get going here, this video will be a lot
2:45longer than I want it to be.
2:47I know some of you like, "Go longer with
2:49it."
2:50>> [laughter]
2:51>> You addicts.
2:52All right. So, this morning,
2:57here's the home run
2:59right there. Okay?
3:01I want you to look at what we have.
3:05Several things here. Just look at price
3:07alone.
3:10Okay? Just look at price.
3:13What do you see?
3:17Market maker's sell model, right?
3:21Original consolidation,
3:24leaves consolidation, comes back,
3:27tests consolidation.
3:32First stage reaccumulation,
3:34second stage reaccumulation, smart money
3:37reversal,
3:39low risk sell,
3:41first stage distribution,
3:44second stage redistribution,
3:47and then it drops down to take out the
3:48lows below what? The original
3:51consolidation, right?
3:55No.
3:58But
3:59but but
4:00you said
4:03When I first taught these things,
4:06I said that sometimes
4:09it will not take out the original
4:11consolidation.
4:13And needs know other things that lead to
4:16that understanding.
4:17And I showcased that today. Okay, and
4:19I'll give you a little bit more details.
4:21Cuz I understand that sometimes
4:23it doesn't look so obvious, okay? But I
4:26just realized that I don't have
4:30Yeah, I don't have the uh
4:33the daily levels annotated showing on
4:36all time frames. So, bear with me for a
4:39second.
4:41Actually, I do.
4:45Forgot I removed them while we were
4:46talking. See, it's one of these Biden
4:47moments.
4:49So, my age fits is kicking in.
4:52It's kicking in, man.
4:54So, if I
4:59had all the
5:00annotations back on, okay? See how nice
5:03that is? Control Z for the win. Control
5:05Z,
5:06the undo feature.
5:08So, here's that original consolidation.
5:10And
5:12price
5:13gets down to it.
5:16Here's the
5:19stage that accumulates,
5:22breaks through, comes back, tests
5:26the consolidation.
5:28First stage accumulation, second stage
5:31accumulation, smart money reversal,
5:33low-risk sell,
5:34first stage distribution, second stage
5:37distribution.
5:38Now, there's other things on this chart,
5:40and I'll get to them in the moment. But
5:42I want you to look at this red line
5:43right here.
5:45You see what that is?
5:46That's that 29,282.50
5:50level.
5:52That is the bearish order block on the
5:54daily chart.
5:56See what it's doing here?
5:58See that?
5:59Also,
6:01while I was sleeping, it was utilized
6:03over here.
6:05Look at that.
6:06That's brilliant.
6:08Perfectly delivered on
6:11the
6:12inefficiency
6:15concept when it comes to wicks that
6:17nobody else talks about.
6:19I know I I I guy sent me a comment
6:22saying,
6:23"I'm tired of you always saying like
6:24you're trying to prove something. Bro,
6:26you rebranded
6:27Look.
6:28You're just parroting other
6:32less informed people. Let's say it
6:33nicely.
6:36Here's the wick here.
6:39And there's the
6:40I'm sorry, the close.
6:43And this the full wick, okay?
6:47Notice how price doesn't even close or
6:49even touch that.
6:50Is that bullish or bearish?
6:53Michael says real institutional order
6:55flow, algorithmic order flow,
6:59says that that's exceedingly bearish.
7:02At the same time,
7:04we're trading at the daily bearish order
7:06block.
7:07See that? I just mentioned that
7:08yesterday.
7:10It's almost like I knew it was going to
7:11happen. But I'll leave that for you to
7:13determine if that was really the case or
7:14not.
7:16So anyway,
7:18let's go back over here.
7:22And get into this business and that we
7:24can wrap this video up, okay?
7:26So you see that 50 level down here? Is
7:28this a lingerer around?
7:31It went there
7:34overnight
7:35after selling off
7:37up here. What is this pink box?
7:39What What that?
7:41That's the day opening gap.
7:44Okay?
7:45And we can scrub back here and we'll see
7:47that.
7:49Right there.
7:50Okay? I'll take it off for a second.
7:52See it? That's new day opening gap.
7:53That's where we settled at 4:59 Eastern
7:56time
7:58and then restarted
8:00at 6:00 p.m. Right there.
8:02So, the difference between those two is
8:04my new day opening gap.
8:07I'll add it back on.
8:09And this green line here is just simply
8:15the reference between
8:17settlement price
8:21and
8:23regular trading hours opening at 9:30,
8:25okay?
8:26So, the green line there
8:28and there. So, that's the opening range
8:30gap.
8:32Okay? So, we had a little bit of a
8:36a discount gap
8:38at open.
8:41And
8:46let's widen this out a little bit.
8:48Okay? So, since we did not get a close
8:50below this level
8:51on the daily chart, we went down there
8:53overnight.
8:57This run
9:00all the way up here and then right at
9:029:00
9:04it's part of a market maker sell model.
9:06It trades up into the new day opening
9:08gap, does not leave a body
9:10at or above its own consequent
9:13encroachment level.
9:15That's again the new day opening gap for
9:18Tuesday for Wednesday's trading. Okay?
9:20In other words, 6:00 p.m. Tuesday
9:22Eastern time.
9:23That's that gap that I showed you. New
9:26day opening gap, NDOG or N dog as we
9:29commonly refer to it as.
9:31But, it fails to leave a body at or
9:35above consequent encroachment.
9:37At the same time,
9:40we're part of a market maker sell model
9:45where
9:46price starts the day exactly at 9:30 and
9:49goes straight from there up.
9:51It goes into new day opening gap and it
9:53doesn't show any willingness
9:56by having a body
9:57at or above consequent encroachment, is
10:00that indicative of bullish price action?
10:03No.
10:05It's bearish.
10:06So, we can look at
10:08all these attempts in here to try to
10:11fake individuals out and they want to
10:13chase this going higher.
10:16This buy side imbalance sell side
10:17inefficiency here becomes a bearish
10:21inversion fair value gap.
10:23Okay?
10:24When the market breaks lower,
10:27it's coming down into
10:31this inefficiency.
10:35And we're looking at it from
10:39the high of that candlestick. And
10:41there's a small little volume imbalance.
10:43Look at the
10:44the open on this candle.
10:47252.75
10:51The close
10:5329
10:54252.50.
10:57So, there's one tick higher at the open
10:59on this candlestick. See that? In in
11:01difference to
11:03the close of that candlestick. So,
11:04there's a small little volume imbalance
11:06there.
11:08So, it's not this is the fair value gap.
11:10It's this is the fair value gap. Okay?
11:13And as the price went lower
11:16and traded into this,
11:18it was unwilling to lay a body at or
11:21below
11:22consequent encroachment of that
11:23inefficiency.
11:25So, again, is that bullish or bearish?
11:28Near term, it's bullish.
11:30So, the market's likely to go go higher,
11:32and it does.
11:34And it trades into the 10:00 hour.
11:38Breaks lower and gives us
11:41first stage distribution.
11:44Can it touch N dog low? No. New day
11:47opening gap low can't be traded to here.
11:50So, is that bullish or bearish? It's
11:52bearish.
11:55Look it breaks down.
11:58One more time.
12:00Rallies back up. Now, look what it's
12:01doing here. The inversion for a daily
12:03gap is showing s-
12:04it's signs
12:06that it's now being respected. We have
12:08close below it here.
12:10And then
12:12tries to get up in there, but leaves the
12:13body outside of it. Is that bullish or
12:15bearish?
12:17It's bearish.
12:19So, market breaks lower. And now we want
12:21to see it perform as a inversion for a
12:23daily gap here. This is bullish
12:26in its formation because it's it's
12:29one by side delivery, not
12:32liquidity.
12:34So, if this is going to be a bearish
12:35market and move lower, this is going to
12:37reverse its role and not propel price
12:40higher like it does here. It wilts
12:42through it. Look how it's using the body
12:45here.
12:46And then we close below it. We go a
12:48little bit lower. We try one more time.
12:50Now, here's where you have to blend a
12:52couple different things, okay?
12:55We have a short-term high here.
12:59A low
13:00and a higher high.
13:03This is your bearish breaker.
13:06Right here.
13:07Now, why am I not using this one?
13:08Because it has a wick.
13:10And I want to use the body that goes the
13:12lowest. And that's this one here.
13:15So, if we look at like this,
13:24inside this is your bearish breaker.
13:35You see that?
13:36And while it's trading up into that,
13:38look where the bodies are.
13:41See how it's
13:43wicking through it, but it's going up to
13:44that order block from the daily chart
13:46that I talked about yesterday.
13:48Okay?
13:49So,
13:50when that occurs,
13:52it's wicking up through it,
13:55and then tries one more time, gives up
13:58the ghost,
13:59and trades lower.
14:01Close outside
14:03of here. So, now we have multiple
14:06reasons why this should be the basis of
14:08a turn.
14:09We're inside the macro,
14:11so 10:50 to 11:10
14:14Eastern time. You know, those things
14:15that supposedly don't do anything.
14:17>> [laughter]
14:19>> It's so funny.
14:21The market then runs lower, closes
14:23below, so now we're in
14:26a delivery that's timed
14:29and time-based,
14:31and then it's fitting the narrative.
14:33It's going to go lower.
14:34We have a low,
14:36relative equal low, a low here. Notice
14:38they didn't take the sell-side there.
14:40And it ran up. This right here faked a
14:42lot of people out. Actually, some of the
14:44live streamers,
14:46you know, the ones with the big mouths,
14:49they were trying to go long here again,
14:51and then
14:52gave up the ghost, went lower.
14:54Okay, so
14:58if you look at it from
14:59the inversion fair value gap,
15:01once we left it here with the close,
15:04the body stayed in the lower
15:07octants
15:08of this
15:11inversion fair value gap.
15:13The wick can't even touch it in the
15:15consequent encroachment.
15:17That's weak.
15:18You're just going to have to submit
15:19yourself to time. Wait, okay?
15:22And then finally it breaks aggressively
15:24to take the orders that are resting
15:25below here,
15:27here, and here. Now, that's not all it's
15:29going to do
15:30because we have a wick right here. You
15:32have to grade that
15:34in that 50% here. It trades up to it,
15:37falls here.
15:39That's going to be what? Bearish. And
15:41the market starts to careen lower.
15:45This is 9:30 opening price.
15:48And what I did
15:51was and we'll go to regular trading
15:53hours just for a moment.
15:55So, what I did was I used
15:58this price here
16:02and this price here.
16:03Now, you can get crazy and look at that
16:05little tiny spinning
16:07top. I think that's what the Richard
16:10Dennis calls them.
16:12Not Richard Dennis, what's his name?
16:14Steve Neison.
16:15>> [laughter]
16:18>> Yeah, got it right. Okay, the close,
16:20okay? So, that's the close at 4:14
16:24regular trading hours
16:25Eastern time.
16:27And then
16:33see open at 9:30 Eastern time this
16:36morning.
16:37Okay? So, those two price points
16:40here and here, that's your opening range
16:43gap.
16:44Now, let's throw a fib on that just for
16:46a second.
16:52Okay?
16:53So, we have
16:55the 50% level
16:57here.
16:58How I know it's that one and not this
17:00one? Because this one, as I'm
17:01highlighting it, that little dot up here
17:03highlights.
17:04Okay? See? Boom.
17:07So, that's consequent encroachment
17:10between 9:30 a.m. Eastern time to 10:00
17:14Eastern time, there's a 70% likelihood
17:16it's going to trade to that level.
17:18Half the gap, okay? Not always, but 70%
17:21is you got good odds, right?
17:24So, we open and go right out the gate
17:26like that higher.
17:28And go right up into new day opening
17:31gap.
17:32That's what this is.
17:33Okay? So, new day opening gap is part of
17:36the regular trading hours opening range
17:38gap.
17:39And
17:40this is confusing for you, just go slow
17:42and look at what you're seeing on your
17:44own charts.
17:45And then don't have all this extra stuff
17:47on the chart while you're looking at
17:48your own. Okay?
17:50If you're just watching my video and
17:51assuming that this is just good enough,
17:54you're going to use my charts,
17:55you're never going to learn. You're just
17:56going to be observing, and just
17:58observing is not the same thing as
17:59learning. Okay? It's not Netflix and
18:02chill around here, okay? Let's put it
18:04that way. I'm not going to say what I
18:05said before, but you know what I said if
18:07you've been around for a while.
18:08So, let's go to electronic trading
18:10hours.
18:14All right.
18:15>> [snorts]
18:16>> So, we have the market trade up into new
18:18day opening gap, consequent encroachment
18:20fails here, works lower.
18:23We have the breaker, so we trade up into
18:25the breaker, and then we also have macro
18:27time and the bearish order block on the
18:30daily chart.
18:31That's that lower
18:34larger candlestick that was up close.
18:36And I said that until we got below it,
18:39it's not it's not
18:41a concern for us.
18:43There's no There's no concern for it to
18:44be changed in this day delivery.
18:47And it has to fit the narrative
18:50like it does here. Look how many things
18:52are warranting this to go lower.
18:54Part of a market maker sell model, or
18:56the 1050 to 1110 macro. We also are
19:00inside of a breaker, high, low, higher
19:02high. Liquidity here and purged.
19:05It breaks lower, it's a second stage
19:07redistribution of a market maker sell
19:09model. This is going to be the largest
19:11easiest price run in the longest
19:13magnitude. Boom, right out the gate.
19:17Well,
19:18it does so here and it trades down to
19:23relative equal lows.
19:26And then these two equal lows here.
19:28Now, why did I pick them?
19:30Why did I say I'm going to get out of my
19:32trade
19:33right below here and not go for the
19:35original consolidation?
19:37Because
19:39this area down here,
19:41it swept through it on a move that I
19:43missed while I was sleeping. This would
19:44have been an easy trade. Look at that.
19:46Relative equal highs, ran up there.
19:48Beautiful.
19:50London open kill zone.
19:52See you.
19:53Sold off.
19:54And I when I then admittedly, when I
19:57woke up and I saw the chart, I was like,
19:58"Oh, wow, look at that."
20:00This is one time I wish I would have had
20:01insomnia because I would have been all
20:02over this.
20:04I would definitely would have shorted
20:05that.
20:06And now I see some of you are like, "Oh,
20:07yeah, right. Hindsight Harry, right?"
20:10Make my day.
20:12So,
20:14you're all welcome to have your
20:15opinions, but uh
20:16just remember you're all wrong. The
20:18relative equal lows
20:20there, I aimed for that. You can see
20:22that in the recording. And it's because
20:24we did not get a close. It's still part
20:27of the same day
20:28when it went down to this level earlier
20:30in the London session, but then it gave
20:32back all this to get back to new day
20:34opening gap.
20:36Then we went lower, okay?
20:39And the only thing we done is overlapped
20:42the
20:43discount range
20:44of the opening.
20:46So, we went up, almost completely filled
20:49the gap by going here, but it failed at
20:51new day opening gap.
20:52So, because it went straight from
20:54opening at 9:30,
20:56we're part of a market maker sell model,
20:59it's likely to go lower,
21:01but not take out the original
21:03consolidation
21:05of my market maker
21:06sell model.
21:08and it's going to stop down here in a
21:10deep discount but not take
21:13the sell side liquidity.
21:15So when I first started teaching market
21:16maker models
21:19it can go up
21:20to go down and clear the original
21:22consolidation.
21:23But when it's bullish it will not do
21:25that.
21:26It will not do that.
21:29So
21:30I elected to use the unicorn
21:32second stage distribution
21:36inside of a macro
21:37add a bearish order block that I told
21:39you yesterday once we get below it then
21:42it's salient. It's pertinent to what you
21:45would see in price action when it's time
21:47to consider it.
21:49Look how many things are happening in
21:50this chart.
21:52You see it?
21:54It's a lot of things, right?
21:56So how many confluences do you need?
21:59How many?
22:00But here it's like huge. I mean it's
22:04There's so many things going for it to
22:06go lower here. It's it's an easy thing
22:08to anticipate. The problem is you have
22:11to be able to manage it with your stop
22:12loss because there's a lot of crazy
22:14wicks and stuff.
22:15Like cuz apparently you know the war is
22:17back on.
22:19So it is what it is, right?
22:22So again I wanted to watch and see if we
22:24got below on a closing basis on this
22:26wick and we got it here.
22:28And then we came up failed to touch it
22:30here, failed to touch it here, here
22:32being
22:33the consequent encouragement of this
22:35wick.
22:36That's not support resistance.
22:39It's not support resistance.
22:41And that's not
22:44a supply zone.
22:45>> [laughter]
22:47>> Retail house this rebranded. Hello,
22:49hello. So it moves lower
22:52and then
22:53I did a few things here
22:56that
22:57you've seen me do before where I have
22:59measured like an old low and then the
23:02low is down here.
23:03And then I'll get a halfway point in
23:05between. And the halfway
23:08move, it's funny cuz actually earlier
23:11when I was
23:12going through uh
23:15the TV guide thing on the
23:18the TV in the living room here.
23:20I wanted to see what time it was.
23:21And cuz I have a big house, I didn't
23:23want to walk all the way over to the
23:24bedroom to get my phone. So, I was like,
23:26"Well, let's turn the TV on real quick
23:27and then I'll see what time it is."
23:29And guess what movie was coming on?
23:32Laurence Fishburne in Event Horizon.
23:35Isn't that wild?
23:37It's one of those uh
23:39singularity moments, right? So, here is
23:41Event Horizon. What it's doing is it's
23:43measuring the low here, two of these
23:45relative equal lows, and this relative
23:47equal low, okay? So,
23:50that's halfway.
23:52And
23:53went right down into it. I took a
23:54partial there.
23:56I'm sorry. Good grief, I'm talking to
23:57you like it's already on the chart.
24:01This old guy doesn't know what he's
24:02doing.
24:05So, anyway, uh here I am getting short
24:07inside the breaker.
24:09And using this idea of this it's outside
24:12the coloring of the lines of this
24:15buy-side imbalance sell-side
24:16inefficiency.
24:18And I'm trying to finesse that entry
24:20right here with the breaker.
24:22Off of a run that just keyed off of the
24:24bearish order block.
24:26Okay? So, we're inside the macro time
24:29that doesn't exist that that the market
24:30doesn't worry about, doesn't even
24:32consider it, cuz it's all made-up stuff.
24:36May have one more time hitting it here.
24:38And I missed the opportunity to add to
24:40that. So, it is what it is.
24:42The market breaks lower.
24:44Works in here.
24:46Works right at 9:30 opening price. And
24:49then boom, breaks lower, takes the sell
24:51side here. That's why this is dimmed
24:53out. And then
24:57right there is where I was gathering
24:59your attention during the execution
25:00video I shared on
25:01X. I was going to make it part of this
25:03video, but it just seems like it's too
25:05gratuitous.
25:06Um just go look at it on the X feed and
25:08you'll see it. It's a short little
25:10vignette. I don't have any sound with
25:11it. It's just here it is, deal with it.
25:14And there's my uh
25:15exit at event horizon. It's almost like
25:19it reacted off of that.
25:21And then failed to get to
25:23consequent encroachment there. And the
25:24crazy is like Spider-Man web slinging,
25:27knowing exactly where to anchor your web
25:29before you swing.
25:31Swing.
25:33Stop. Swing. Right there below sell
25:37side.
25:38And then finally full limit order uh
25:40collapsing. And what do you know it?
25:42Look at that. That's like near the low
25:44of the day.
25:45Regular trading hours, mind you.
25:47And then it rallies up, comes back down
25:49in fair value gap.
25:51And touches one more time.
25:53Old pool of liquidity.
25:56Rips higher. Bullish fair value gap
25:58handsomely now.
26:00Goes higher.
26:029:30 opening price being used as a
26:03discount PD array.
26:06Rallies higher.
26:08Fair value gap sell side liquidity. Hits
26:11it, hammers it. Rallies up.
26:13In here, the order block changes its
26:16characteristic.
26:17All of this in here becomes like a foot
26:20like a foothold to go higher.
26:23Trades higher.
26:25Buy side liquidity.
26:27And full gap closure there.
26:30Okay?
26:30And
26:33runs through, comes back down in
26:36this inefficiency here, which was an
26:38inversion fair value gap.
26:40Lends itself to being bullish or a a
26:43bullish PD array. Does so here again.
26:45It's interesting, isn't it? Like why
26:47else is it doing this?
26:49Because it has to do with this logic
26:51over here that no one before old man
26:53Michael gave it to y'all.
26:55And then look at this. Look how much
26:56time it spends in new day opening gap.
26:59It's pretty wild, isn't it? It trades up
27:01to consequent quotient to a old
27:02inefficiency.
27:06Dips back down and then here we have
27:10the opening.
27:13Here's
27:144 59.
27:17Regular trading hours close and then
27:18regular trading hours I'm sorry,
27:19electronic trading hours opening.
27:22I must have said that wrong.
27:24Electronic trading hours closing,
27:25electronic trading hours restarting. So,
27:27there's an hour break there. And this
27:30meander around sideways.
27:33And this is where we're at. So, this is
27:35no man's land, okay?
27:37>> [gasps]
27:38[sighs]
27:38>> So,
27:40where does that leave us?
27:42Well, it leaves us with the undeniable
27:43fact that the old man knows what's going
27:46on.
27:47He's got his fingerprints all over it.
27:49Oops. Did I say that?
27:51>> [laughter]
27:51>> Until I talk to you next time.
27:53Be safe.

About this transcript

This page contains the full transcript of YouTube transcript (JmAJfuSkY1g) , generated from the public captions YouTube serves with the video. The transcript has 3,764 words across 755 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

What you can do with it

Use the transcript to take notes, quote the speaker, build a study guide, generate a summary with ChatGPT or Claude via the YouTube Summary tool, or export it as a timed subtitle file with YouTube to SRT. You can also re-open it in the transcriber to translate the transcript into 100+ languages.

Free YouTube transcript tool

YouTube2Text is a free YouTube transcript generator — no signup, no daily limit. Paste any YouTube link and get the full transcript instantly, with timestamps, click-to-jump, translation to 100+ languages, AI prompts for ChatGPT, Claude, and Gemini, and exports to TXT, SRT, VTT, or Markdown.