Dumb Money Concepts - Range Lock — Transcript

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1. 0:00okay DMC this is lesson six we're going
2. 0:02to talk about uncertain trading times
3. 0:05when you shouldn't be trading and range
4. 0:07bound sort of price action okay so uh
5. 0:10reason we're talking about this today is
6. 0:11just because I had seen something along
7. 0:13the lines of basically a range day
8. 0:15nothing really happened today uh or as
9. 0:17you would think right when you are
10. 0:20uncertain right there's either there's
11. 0:22usually a trend right but when we're
12. 0:24looking at the 4our you can see on the
13. 0:25bottom left here you can see that we've
14. 0:27kind this pullback there's nothing major
15. 0:30like we could be going up you know
16. 0:31there's no recent break of anything it's
17. 0:34just kind of sitting there then you go
18. 0:36down to the 1 hour you're like you know
19. 0:38here's the open right so here's the one
20. 0:40hour you're you've you've rejected off
21. 0:42this side right and then you've also
22. 0:45kind of how a wick on this side right
23. 0:48where it's down here this Wick there
24. 0:50right so you can kind of see that 1 hour
25. 0:53candle is really
26. 0:55rangy uh and then we're not making much
27. 0:58for actual gains right we fail to gain
28. 1:00that we've then bought back up off this
29. 1:03okay where is it going to go uh this is
30. 1:05what I just call some range lock uh
31. 1:08where we have a range and we're not sure
32. 1:11which direction is going to go now you
33. 1:12would be able to figure this out you
34. 1:14know using some Advanced tactics but you
35. 1:15kind of have this range that you're
36. 1:16going to be in all day um and you're
37. 1:18seeing Wicks on either side right we're
38. 1:20seeing Wicks and every time you've got a
39. 1:22wick like that what you can do is you
40. 1:25know you've got a wick there so it's
41. 1:27going to progress to the other side and
42. 1:28you're going to you know then when you
43. 1:30when you fail this one you're going to
44. 1:32progress to the other side and you can
45. 1:33just drop down time frames but when
46. 1:35you're not able to find a bias that's
47. 1:37basically all you can do is you know buy
48. 1:40and sell the highs and lows based off of
49. 1:43these failures to gain right once the
50. 1:47higher time frames show some
51. 1:48confirmation of what's going to happen
52. 1:51right which is you know maybe this is a
53. 1:53one hour it's really beautiful sweep
54. 1:55right or failure is is the terms we like
55. 1:58to use here fa failure to lose that
56. 2:00level then you can say okay sure now we
57. 2:03know it's going to go up right or now we
58. 2:05see this really beautiful close and
59. 2:07we've actually broken out from that
60. 2:09range lock right we're no longer ranging
61. 2:11back and forth right when range lock is
62. 2:14basically the situation where you've got
63. 2:15Wicks on either side and you're just you
64. 2:17keep closing in the inside right there's
65. 2:19no breakout right so now that we've
66. 2:21broken out okay we can
67. 2:23say for
68. 2:25sure what we're going to be doing is
69. 2:27continuing right so the whole scenario
70. 2:29is looking at these higher time frames
71. 2:31failure you target the other side
72. 2:35failure you target the other side and
73. 2:37now that we've realize that we're out of
74. 2:38that range lock we can continue back
75. 2:40into the trend right and most likely
76. 2:42it's going to continue in that overall
77. 2:44trend that we had before right because
78. 2:45we were in before we don't need to
79. 2:47consider that that's literally basically
80. 2:50all we're teaching this lesson uh the
81. 2:52really huge key indication of range lock
82. 2:55is when you have spinning top sort of
83. 2:58shapes right where giant Wicks on on
84. 2:59either side it's usually often right
85. 3:02before news so you can check that before
86. 3:03fomc it's really common for fomc or uh
87. 3:06NFP uh anything along those lines and
88. 3:09another thing that you might be
89. 3:11uncertain about is you know maybe some
90. 3:14uncertain closes right like what happens
91. 3:17if we close directly sort of like just
92. 3:20past it well you know what I mean like
93. 3:23right here for example where we just
94. 3:24barely close past it or you close past
95. 3:28one but you fail the next one so like
96. 3:30let's say there's another level here
97. 3:32then the reality is you don't know
98. 3:34what's going to happen right and and
99. 3:36these are these are the scenarios where
100. 3:38you may want to just sit back on and I
101. 3:39don't have an answer perfectly for you
102. 3:41for every single scenario yet because
103. 3:43you know maybe down the line I will have
104. 3:45one uh but you know let's say you you
105. 3:48you've um there where's an example here
106. 3:50there was this one actually we're
107. 3:52looking where we've re-entered this zone
108. 3:55right but we've also failed this one
109. 3:58right so it's uncertain right and when
110. 4:01you've got uncertainty and and different
111. 4:02things telling you different signs then
112. 4:05why are you in right now what did happen
113. 4:08is generally you do want to go with what
114. 4:10the algorithms will be doing where you
115. 4:11did regain that so what's going to
116. 4:13happen is there's a little momentum down
117. 4:15you can get your entries and then what
118. 4:17you're going to be do is targeting that
119. 4:18side because you you you've regained The
120. 4:21Zone once you regain that zone you're
121. 4:24going to Target the other side of the
122. 4:25Zone because there's nothing else in the
123. 4:26zone right that must make sense to you
124. 4:30that's all I got for the range Lock
125. 4:31super easy lesson