YouTube transcript (RVHX56v-gUo) — Transcript

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1. 0:00All right, folks, how are you?
2. 0:05All right, folks, welcome back.
3. 0:08Going to be a real short one.
4. 0:10I have a serious sinus headache and it's
5. 0:12not letting go, so
6. 0:14I'll make this as brief as I possibly
7. 0:16can.
8. 0:17>> [sighs]
9. 0:18>> I'm
10. 0:19coming back later to see you then after
11. 0:20everything closes. I'll try, but no
12. 0:22promises, but we have a daily chart here
13. 0:25on the Nasdaq, left-hand side.
14. 0:27And this is what we had yesterday at
15. 0:30close.
16. 0:31And I want you to take a look at these
17. 0:33bodies. See how smooth that is?
18. 0:36I talked about this this week.
19. 0:38Okay, so when the reverse is like that,
20. 0:40it's basically like
21. 0:43SWAT teams ready to bust through
22. 0:45anytime. Okay? And
23. 0:49we failed to go lower
24. 0:51beyond the scope of what I was
25. 0:53suggesting as a downside objective. We
26. 0:55got to that downside objective.
27. 0:58And up until
28. 1:00the CPI number
29. 1:03yesterday, I had no intentions of
30. 1:05looking for anything higher.
31. 1:08But this morning,
32. 1:10when I woke up, I saw that we had
33. 1:13everything in in motion that set it to
34. 1:16Wednesday's high, maybe last week's
35. 1:18high.
36. 1:20And then
37. 1:21if it would have been a little bit
38. 1:22slower-paced run this morning, it was
39. 1:24very quick out the gate at 9:30.
40. 1:27Um you have these relatively cool highs
41. 1:30here.
42. 1:31And then we have this
43. 1:33old inefficiency here.
44. 1:35But this one here, you should have
45. 1:36already seen this on your own chart.
46. 1:38This should have been
47. 1:40obvious for you.
48. 1:42But it was so far away from down here,
49. 1:45it wasn't worth mentioning yet.
50. 1:48And so the next candlestick here,
51. 1:52you see we trade all the way up into
52. 1:53that. We bust through these relatively
53. 1:55equal highs.
54. 1:56We leave
55. 1:59these bodies right here.
56. 2:02And as we approach the 8:30 PPI number,
57. 2:07I had expected this.
58. 2:10And then I mentioned in a
59. 2:13chart.
60. 2:15See how we had this like pseudo
61. 2:19diagonal trend line stuff.
62. 2:22I like to look for this kind of stuff.
63. 2:27And then like this right here, the
64. 2:30midpoint. I called for this as a
65. 2:34suggestion
66. 2:35to see if we could get below that this
67. 2:37morning
68. 2:38on the CPI number. I'm sorry, for the
69. 2:40PPI number.
70. 2:43And it started off like it was going to
71. 2:45make an attempt to do so, but once it
72. 2:47got below here,
73. 2:50it was it. It wasn't interested going
74. 2:51in. Now, I'm of the opinion if I
75. 2:53wouldn't have said that,
76. 2:55it would they would have went down
77. 2:56there. You can you can argue and wrestle
78. 2:58with me in the comment section. You're
79. 2:59welcome to your opinion, okay?
80. 3:01But I've been around the game long
81. 3:03enough to know that that would have been
82. 3:05highly reasonable for it to go down
83. 3:07there and take that out.
84. 3:09And then
85. 3:10go up to Wednesday's high.
86. 3:13Okay, so Wednesday's high,
87. 3:15you'll see it over here.
88. 3:21That's what I suggested. So, on the
89. 3:2350-minute time frame,
90. 3:25go down to go up to clear 30,000.
91. 3:29Okay?
92. 3:31So, that's what I was looking for.
93. 3:34And then
94. 3:36when we created the
95. 3:378:30
96. 3:40on here.
97. 3:42Let me maximize this chart, okay?
98. 3:51These are trend lines.
99. 3:56Not that I like them. I just like
100. 3:58looking for them to be victimized.
101. 4:00We have the 8:30 candle here.
102. 4:03And we're on a 1-minute timeframe.
103. 4:06So, we opened, ran all the way up,
104. 4:09came back down. We basically swept
105. 4:12Tuesday's previous day high.
106. 4:15Or
107. 4:16Tuesday, 2 days ago's high.
108. 4:19Then came back down and then we had this
109. 4:20weird
110. 4:21like
111. 4:23structure in here that
112. 4:26I felt that it was going to likely come
113. 4:27down, at least take out this low.
114. 4:30And even if it failed to go lower,
115. 4:32that would have been enough to warrant
116. 4:34you know, a partial.
117. 4:36I went in. I was looking for a short
118. 4:39to sell
119. 4:41and then buy it back at the low or very
120. 4:43close to the low.
121. 4:44And then hope for Wednesday's high to be
122. 4:47taken out. And then maybe trail
123. 4:49something if it allowed for it, but it
124. 4:50would only be like one or two contracts
125. 4:52being trailed.
126. 4:54As a runner, basically.
127. 4:56And
128. 4:58it started showing an unwillingness to
129. 5:00want to go lower.
130. 5:01So, I collapsed
131. 5:03the position,
132. 5:05went long.
133. 5:07And then we have this
134. 5:08buy side imbalance sell side
135. 5:09inefficiency. So, we have this high
136. 5:11here.
137. 5:13Thought it could draw up into that.
138. 5:17At this
139. 5:18portion of the fair value gap open and
140. 5:19let's just I'll show you.
141. 5:21See it?
142. 5:23There.
143. 5:24And this is how far it went in.
144. 5:28So, from there to there, that that
145. 5:30portion
146. 5:32remained open.
147. 5:35But the gap is defined by
148. 5:37that.
149. 5:40So, institutional order flow entry drill
150. 5:42using last Friday's daily high.
151. 5:44So, it's a key PD array.
152. 5:46Rallies up.
153. 5:48Order block trades into it. They are
154. 5:49changing the state of delivery. Rallies
155. 5:51up.
156. 5:52Once it starts taking out this high,
157. 5:54I peeled off
158. 5:56portions of the long.
159. 5:59And then
160. 6:00I trailed the stop loss up to
161. 6:05right below these lows in here.
162. 6:07And it came down, hit it,
163. 6:10and then traded all the way back down
164. 6:11into my fair value gap there.
165. 6:19You can see it went down the consequent
166. 6:20encroachment.
167. 6:24Strong long here.
168. 6:27This is the PD array also that I was
169. 6:30utilizing.
170. 6:33See that big wick?
171. 6:34So, if you're looking at this, that's
172. 6:35that's fine.
173. 6:37But if there's a wick to the left, you
174. 6:38got to be mindful of that.
175. 6:40Okay? And you can see that
176. 6:42we'll look at the 50% level.
177. 6:45And we'll prod that up with
178. 6:51that.
179. 6:54Give me the body stop
180. 6:55right at the halfway point of that wick.
181. 6:58I guess it'd be easier if I took it all
182. 6:59off except for just the
183. 7:01consequent encroachment level.
184. 7:06My head is hammering.
185. 7:09So, we have this
186. 7:10midpoint here. You can see the body's
187. 7:12respecting it as well.
188. 7:14And look at that. Isn't that brilliant?
189. 7:16Comes right down, touches last Friday's
190. 7:18daily high,
191. 7:20and then goes down the consequent
192. 7:21encroachment of my buy-side imbalance
193. 7:22sell-side inefficiency fair value gap.
194. 7:25Then it rips higher.
195. 7:28So,
196. 7:30just above
197. 7:32this midpoint,
198. 7:34ideal entry.
199. 7:36Down into the gap, anywhere in there is
200. 7:38a good fill.
201. 7:40Rips higher. I I measured Tuesday's
202. 7:43daily high up to Monday's
203. 7:46daily high and that's half this. As you
204. 7:48can see that right here being measured
205. 7:49from there
206. 7:51to there and that's just the 50% level.
207. 7:53So, that's event horizon.
208. 7:56Trading through that really didn't get
209. 7:58an opportunity to close off anything
210. 8:00there. And then Monday
211. 8:03wonderful partial taken there.
212. 8:06Wednesday's high taken there and then
213. 8:09it ran through.
214. 8:14Came back down, utilized Wednesday's
215. 8:17daily high.
216. 8:20Almost consequent encroachment of the
217. 8:21wick.
218. 8:22Let's measure it just for
219. 8:26Look at that. Isn't that pretty?
220. 8:29So, the wick's consequent encroachment
221. 8:31lays directly on top of Wednesday's
222. 8:33daily high and that's probably random.
223. 8:36And we rip higher taking out last week's
224. 8:39daily high.
225. 8:41Ran up through feeling stops is
226. 8:44warranted.
227. 8:45We get up into
228. 8:47this area here.
229. 8:50And then I make a public announcement of
230. 8:5430,120
231. 8:56my stop.
232. 8:58And there [clears throat] it is.
233. 9:01Slink.
234. 9:02It never comes back down here again.
235. 9:05This keeps going higher and higher and
236. 9:06higher up into
237. 9:09there somewhere I would have taken
238. 9:11my last portion off if if it would have
239. 9:13let me.
240. 9:14And then I would have missed all this
241. 9:16little bit of move here.
242. 9:19Totally did around here. Octane.
243. 9:23Lowest octane.
244. 9:24Trades lower. Relative equal lows.
245. 9:28Back to consequent encroachment of that
246. 9:30bearish fair value gap on
247. 9:32the daily chart.
248. 9:34And we're just hammering around in here.
249. 9:36Okay, so
250. 9:38pretty eventful day. Um this line is
251. 9:40where those bodies were on the daily
252. 9:42chart.
253. 9:43Let me show you.
254. 9:47If we go up to the daily again,
255. 9:50I'll zoom in.
256. 9:53Relative equal highs
257. 9:56relative equal highs
258. 9:58right there.
259. 9:59And that's the 30,094 even level. That's
260. 10:02what that is.
261. 10:03See that?
262. 10:05So, once it cleared that,
263. 10:07I didn't have any interest in seeing it
264. 10:08come back down into it.
265. 10:11And then chased up as far as I could,
266. 10:13but 120
267. 10:15takes you out of the game here on that
268. 10:16candlestick for me.
269. 10:18And I was the old me part of all this
270. 10:20run.
271. 10:22That's that. Um
272. 10:24I don't want to hold any hard
273. 10:27targets for the rest of the week.
274. 10:29If it's going to continuously be bullish
275. 10:32uh next week, we could be looking for
276. 10:35right up in here.
277. 10:38So,
278. 10:41this is all too smooth.
279. 10:43So, around 30,975
280. 10:45half.
281. 10:47And then I obviously have the old highs.
282. 10:50So, new ti- new all-time high. It could
283. 10:53be in the making. I'm not going to go so
284. 10:54far and say that's what it's doing.
285. 10:57But uh for now,
286. 10:59this high
287. 11:02and then these relative equal highs
288. 11:03here.
289. 11:04So, let's put a line
290. 11:06the short-term high.
291. 11:07And then wrap this video up. So, 30,000,
292. 11:10we'll call it 600. 30,600
293. 11:13and then 30,975
294. 11:14half
295. 11:16uh are the objectives on the upside.
296. 11:20I'm not interested in
297. 11:22being short. I'm not interested in
298. 11:23taking any more trades. And I'm probably
299. 11:25just going to go
300. 11:27and try to fall asleep for a little
301. 11:28while.
302. 11:29Have yourself a pleasant evening, day.
303. 11:32Uh be be careful tomorrow, Friday.
304. 11:35I probably won't be participating
305. 11:36anything online.
306. 11:38If I can come up with something for a
307. 11:40lecture, I'll try, but again, no
308. 11:41promises.
309. 11:43Enjoy weekend and talk to until I talk
310. 11:44to you next time. Be safe.