ICT FOR DUMMIES | Candlesticks EP. 1 — Transcript

Full transcript

1. 0:00what the [ __ ] is up guys episode one of
2. 0:02ICT for dummies can someone please make
3. 0:05us an intro email it to us it goes
4. 0:08welcome for ICT for Dum one more welcome
5. 0:13to ICT for dummies teach you how to make
6. 0:17money oh if someone can make an edit for
7. 0:21that so we can have an intro that'd be
8. 0:22fire
9. 0:24anyways yeah this isn't necessarily ICT
10. 0:26it's pretty foundational we need to
11. 0:28start off with foundational stuff like
12. 0:29handle we're assuming you've never in
13. 0:31your life traded you don't know anything
14. 0:33we're starting from Rock Bottom so let's
15. 0:36get into it this is probably what you're
16. 0:38seeing if you're getting on the charts
17. 0:40for the first time bunch of red a bunch
18. 0:41of green bright colors you're like a
19. 0:44[ __ ] this is what the average
20. 0:46unprofitable Trader sees as you make
21. 0:48money the colors get more dull yeah why
22. 0:53are they called candlesticks so they're
23. 0:55called candlesticks because they're made
24. 0:56of bodies and Wicks Wicks tell you where
25. 0:59the CLE was and the body show you where
26. 1:01it closed okay guys we decided to make
27. 1:03some illustrations for you guys which is
28. 1:05just going to show you an even more
29. 1:07simplified manner of these different
30. 1:09candlesticks this is a very bullish
31. 1:11candle this is a very bearish candle how
32. 1:14can you tell you can clearly see that
33. 1:15there's a lot of buying power in this
34. 1:17candle because there's a wick at the
35. 1:19bottom and then a body closure a strong
36. 1:22body closure to the upside there's not a
37. 1:24wick at the top this represents a high
38. 1:27buying power candle same for the bearish
39. 1:30candle there's a lot of selling power
40. 1:32here right we have that Wick at the top
41. 1:34but there's a strong body closure to the
42. 1:36downside these are just basic things
43. 1:38that are going to be subconscious you're
44. 1:40not going to think about this eventually
45. 1:41you'll understand what a strong bullish
46. 1:43candle it's displacing through price is
47. 1:45going to look like and a strong bearish
48. 1:46candle is displacing through price is
49. 1:47going to look like but to give you a
50. 1:49general sense of everything if we look
51. 1:51at these five candles we have on the
52. 1:52screen your average bearish candle is
53. 1:54all the way to the left then right next
54. 1:56to it is your average bullish candle
55. 1:58next you have a dogee candle eventually
56. 2:00I mean we can get a bit into it but
57. 2:02dogee candles can be a potential
58. 2:03indication of a reversal in price
59. 2:05however I wouldn't be too worried about
60. 2:07that we're going to teach you what's
61. 2:08really important and for now we just
62. 2:09want to establish a strong Foundation
63. 2:11since you're not going to be pattern
64. 2:12trading or any [ __ ] you're going to
65. 2:13be learning ICT like a [ __ ] real man
66. 2:16um we'll teach you exactly what you need
67. 2:17to know this is the daily time frame on
68. 2:20the NASDAQ every single Candlestick here
69. 2:23represents one day worth of price action
70. 2:26okay so this was today's price action
71. 2:28Friday November 15 when we are recording
72. 2:30this video this was yesterday's price
73. 2:32action Thursday November 14th and so on
74. 2:35and so on and so on as you can see today
75. 2:38we were incredibly bearish right big red
76. 2:42candle bearish day on Wednesday very
77. 2:48bullish was this election day very
78. 2:50bullish price is clearly and visibly
79. 2:53delivering higher which can be
80. 2:55represented through a large green candle
81. 2:58so every single time frame I have above
82. 3:00we have the 1 minute we have the 2
83. 3:01minute 3 minute 4 minute 5 minute and it
84. 3:03goes up to the Daily right so this is
85. 3:05the daily again now Patrick can we go on
86. 3:08the one hour yes Blake so now we have
87. 3:11the hourly chart each candle here is
88. 3:12going to represent one hour of price
89. 3:14action as you can see we have 400 p.m.
90. 3:16here we have 300 p.m. 2: p.m. 1 p.m. 12:
91. 3:20p.m. 11:00 a.m. 10: a.m. you get the
92. 3:23point this is 1 hour of price action 15
93. 3:26minute for example break it down for us
94. 3:28Blake so on the 15-minute time frame
95. 3:30what does this represent 445 what about
96. 3:3215 minutes before that 430 this
97. 3:35represents another 15 minutes of price
98. 3:37action so you can keep going lower and
99. 3:39lower and lower in time frames you can
100. 3:41keep going higher and higher and higher
101. 3:42in time frames up until the monthly they
102. 3:44even have the yearly on here and there's
103. 3:46also seconds charts so we're now going
104. 3:48to go into what these candles actually
105. 3:50represent on the chart here is a quick
106. 3:53example of how you will be switching
107. 3:55between time frames once you become as
108. 3:57profitable as us
109. 4:00yeah he's he he's super fast he
110. 4:02basically full boxes just did the whole
111. 4:04analysis on the entire day within 3
112. 4:05seconds so this is a singular 15minute
113. 4:08candle what this candle is going to
114. 4:10represent is 15 minutes worth of price
115. 4:12action so when we go down to the lower
116. 4:13time frames we can actually see every
117. 4:15candle that is formed inside of this
118. 4:17range right and you can see we marked
119. 4:19the top of it with a line the bottom of
120. 4:21it with a line right there's two lines
121. 4:22to show you there that as you switch
122. 4:23through these time frames the lines are
123. 4:24going to remain there but you're going
124. 4:25to see how the lower time frames look
125. 4:27inside of this 50-minute so this is a
126. 4:2915-minute we can go down to the 5 minute
127. 4:31which should be what three candles quick
128. 4:34maths those are the 5minute candles that
129. 4:36created that 15minute candle you can go
130. 4:38to the one minute now and so there's
131. 4:39going to be what how many 15 candles so
132. 4:42there's 15 candles 15 candles that make
133. 4:45up this 15minute candle this same idea
134. 4:48is going to apply for the hourly right
135. 4:50how many 15-minute candles are going to
136. 4:51be inside the hourly there's going to be
137. 4:53four right that's what makes up an hour
138. 4:55so you can play around with that as well
139. 4:56I recommend you do do that it's going to
140. 4:58give you just a
141. 5:00you it's going to give you a good sense
142. 5:02of time and um
143. 5:07yeah okay I'm ready now okay why don't
144. 5:09we talk about DN candles what is that
145. 5:13these
146. 5:14nuts don't include that please I'm going
147. 5:16to lose so much more to include that
148. 5:18this is a weak candle and then this is a
149. 5:20strong candle this is a weak candle and
150. 5:22this is a strong candle why am I saying
151. 5:24this though because this bearish candle
152. 5:26here shows that price has rejected and
153. 5:29area here now we're not going to get
154. 5:31into pdas and all that stuff at this
155. 5:33time but we can assume that from this
156. 5:36reaction here because price at some
157. 5:38point traded all the way down here right
158. 5:40so at some point we were you thought
159. 5:42this sh was dumping into the floor right
160. 5:45but then we rejected an area here and
161. 5:48the candle actually closes all the way
162. 5:50up here so from this you can assume that
163. 5:52price has rejected somewhere and we are
164. 5:54going to trade higher we're not pattern
165. 5:56trading these candles guys we're going
166. 5:57to use them with narrative and other
167. 5:59confluences which we're going to teach
168. 6:00you later in the series and you're going
169. 6:01to be able to put together everything
170. 6:02like a goddamn Lego so this is a strong
171. 6:05bearish candle this is showing a lot and
172. 6:08a lot of selling pressure right the
173. 6:10candle has traded all the way here and
174. 6:12we didn't reject anything in this area
175. 6:14and we closed here and with zero Wicks
176. 6:18this shows that price is most likely
177. 6:20going to continue lower same applies to
178. 6:22the bullish scenario here get on the
179. 6:24[ __ ] Mouse and and mark it out then
180. 6:27guys we have the same but for the
181. 6:28bullish scenario so as you can see this
182. 6:30is a weak bullish candle at one point
183. 6:33this candle was absolutely skyrocketing
184. 6:36up all right we were [ __ ] going to
185. 6:37Mars big Drake
186. 6:39candle comes back down doesn't close
187. 6:42that strong after all that's an
188. 6:43indication of a weak bullish candle we
189. 6:46saw that it traded higher here but then
190. 6:47it started rejecting something among
191. 6:50this level so it ended up closing down
192. 6:52here and not being that bullish after
193. 6:53all this is a strong strong bullish
194. 6:56candle big Power big Power you can see
195. 6:59displac high lots of volume right the
196. 7:02Wicks are not taking up the majority of
197. 7:05the candle like this one there is a lot
198. 7:07of volume here and that's going to be a
199. 7:09pretty good indication that price wants
200. 7:11to run higher so if we go right here
201. 7:13right what are we looking at very
202. 7:15bullish candle very bullish candle look
203. 7:17at how much of this candle is made up of
204. 7:19the body you can clearly see it's very
205. 7:22bullish look at how much of this candle
206. 7:24is made up of the body you can clearly
207. 7:25see it is very bearish but that's not
208. 7:28going to be the only indicator you can
209. 7:30use to determine if price wants to go up
210. 7:32or down we're going to teach you more in
211. 7:34depth other things you're going to
212. 7:35combine to really put together those
213. 7:37narratives but I mean just look at this
214. 7:39right bullish structure strong bullish
215. 7:41candles what starts happening up here oh
216. 7:44more Wick it starts dying out and then
217. 7:47we get that big bearish candle and then
218. 7:49we get more bearish candle and then look
219. 7:51at the candles also before price
220. 7:53reverses look at this right price is
221. 7:55dumping lots of power lots of power what
222. 7:58happens here do
223. 8:00okay not to say that every time you see
224. 8:01a dogee price will reverse but it's
225. 8:03still something for you to look out to
226. 8:05because you can see that the pressure is
227. 8:07dying you can see that there is less
228. 8:09volume in the market right now as sells
229. 8:11are stopping and so you get these dois
230. 8:14and then what happens buying power
231. 8:15increases bullish candles start and yeah
232. 8:18guys really spend some time just
233. 8:20analyzing price like screen time is the
234. 8:23most important time in trading when
235. 8:24you're first starting out um you got you
236. 8:27got to be schizophrenic about it you got
237. 8:28to be crazy you really just got to spend
238. 8:30time in the charts become one with them
239. 8:33and yeah let's talk about something a
240. 8:35little bit cooler now so this is your
241. 8:38open high low close and your open low
242. 8:41high close this looks very intimidating
243. 8:43but I promise you guys it is not is what
244. 8:45a bearish candle looks like a red candle
245. 8:48this red candle here represents price
246. 8:51has opened here it has traded higher and
247. 8:54then it trades lower and it closes here
248. 8:57so now just to implement some time
249. 8:59increments so let's say from 150 to 2
250. 9:01p.m. price is just sort of trading
251. 9:03sideways and at 2 p.m. you know we trade
252. 9:05up this this is this this move right
253. 9:06here is going to be from 2: p.m. to 250
254. 9:08p.m. and so we just started dumping from
255. 9:112: to 250 and at 250 to 3 p.m. 3 p.m. we
256. 9:14close down here right so nothing to over
257. 9:17complicate here but this is just going
258. 9:18to end up being a bearish candle so you
259. 9:20understand right let's say you were
260. 9:21looking at the charts at 150 and then by
261. 9:24250 you see that we're trading down here
262. 9:26you're probably going to see a big red
263. 9:28bearish candle for the 2 pm candle um
264. 9:31you're not probably you're going to see
265. 9:33if it opens there and it closes there
266. 9:34you're going to see yeah you're going to
267. 9:36see whatever [ __ ] you Blake so in simple
268. 9:39terms guys the Open high low close what
269. 9:42does this all represent this is your
270. 9:44opening price for a bearish candle we're
271. 9:45going to have an open at the high and it
272. 9:48goes higher meaning this is the extreme
273. 9:50of price this is the highest point in
274. 9:53which price traded to but it's not going
275. 9:56to close there right we then trade lower
276. 9:59and then this is the lowest point that
277. 10:01price traded to but it didn't close
278. 10:03there we then trade higher to close this
279. 10:06candle and this is a bearish candle
280. 10:08because we closed below the opening
281. 10:10price versus a bullish candle this is a
282. 10:13bullish candle because we closed above
283. 10:16the opening Price Right In A bullish
284. 10:18candle and a green scenario and a green
285. 10:20candle we have an open at the bottom we
286. 10:22then have a low that has formed and this
287. 10:24is the lowest point in which price has
288. 10:26traded to and then we have a high and
289. 10:28then we have a close
290. 10:30and because this close happened above
291. 10:32the opening price this is a green candle
292. 10:35so just remember that if the candle
293. 10:37closes below opening price then it's
294. 10:39going to be a red candle dance for me
295. 10:41while I do this
296. 10:44P okay you can sit down okay yeah I'll
297. 10:46stop perfect so this dogee candle is
298. 10:48going to show a lot of consolidation
299. 10:49because price didn't really move a lot
300. 10:51here as you can see here this is the
301. 10:53open right just like we talked about
302. 10:55this is the low so this is the extreme
303. 10:57the lowest that price has gone in this
304. 10:5915minute candle range and then this is
305. 11:01the high this is the highest point that
306. 11:03price has gone in this 15-minute candle
307. 11:05range from 12:15 right and if we go down
308. 11:07to the lower time frame like the 1
309. 11:09minute time frame so from 12:15 all the
310. 11:11way to 12:30 this shows the 15 minutes
311. 11:13worth of price action so this dogee
312. 11:15candle is not going to show a lot of
313. 11:17price movement right it's going to show
314. 11:18a lot of accumulation for example here
315. 11:21the opening price and the closing price
316. 11:23is very close together as you can see
317. 11:25here with the opening price here we
318. 11:27traded higher and this is the extreme
319. 11:28point this is going to be the wick and
320. 11:30since price traded below the opening
321. 11:32price and closed below the opening Price
322. 11:34Right This was 1215 and then it closed
323. 11:36at 1230 and since it closed below the
324. 11:38opening price it is going to be a
325. 11:40bearish candle as you can see though at
326. 11:42the beginning of this 15minute chart uh
327. 11:45we did trade lower and then we traded
328. 11:47higher and so we made these extreme
329. 11:48highs and this extreme low and then
330. 11:50Price died out and started closing near
331. 11:52the Middle with low volume but it still
332. 11:54ended up closing below that opening
333. 11:55price which means it's going to be a
334. 11:57bearish dogee it's hard to notice really
335. 11:59because it is a micro sort of close
336. 12:02there but nonetheless it is still a
337. 12:04dogee now something that's going to be
338. 12:05easier to spot is going to be like the
339. 12:07candle right after so here we have the
340. 12:09dogee what happens right after boom we
341. 12:12got that reversal this is a strong
342. 12:14bearish Candle on the 50-minute chart
343. 12:16and we're now going to mark this the
344. 12:17same way so you can see what this looks
345. 12:19like on the one minute so this is the
346. 12:2015-minute time frame right it shows
347. 12:22price from 1230 all the way to 12:45 so
348. 12:25we can see here on the 1 minute time
349. 12:26frame price has opened and this is the
350. 12:29highest point that price has went in the
351. 12:3215 minutes of this price action and this
352. 12:34is the lowest point that price has went
353. 12:36in this 15 minutes of price action and
354. 12:38since price closed below the opening
355. 12:41price at
356. 12:421245 then it's going to be a bearish
357. 12:45candle now let's get into a bullish
358. 12:47example so this is a bullish Candle on
359. 12:48the 15-minute time frame as you can see
360. 12:50here prices opened we then created the
361. 12:52extreme low we then created the extreme
362. 12:54Wick and we closed above the opening
363. 12:56price meaning it's going to be a bullish
364. 12:57candle we can see here here on the lower
365. 12:59time frame this is what happened we
366. 13:02opened we traded lower and we created
367. 13:04the extreme this is the lowest point
368. 13:06that prices went at from 1:45 to 2 a.m.
369. 13:09and then we created the extreme high
370. 13:11this is the highest point that pric has
371. 13:12went we didn't close there right but
372. 13:14price reach that level and since we
373. 13:16closed above the opening price this is
374. 13:18going to be a green candle all right
375. 13:20guys so that concludes our ICT for dummy
376. 13:23episode one we teach you how to make
377. 13:26money money I forgot I went does matter
378. 13:29anyways like show them the illustrations
379. 13:31and we're going to yeah we're going do
380. 13:33is every [ __ ] bearish candle you why
381. 13:35I this is how they learn they're not
382. 13:37they have Tik Tok brain I hope you guys
383. 13:39remember everything that you're looking
384. 13:41at right now um just quick recap I can't
385. 13:45give a recap with giant versions of you
386. 13:47everywhere anyways guys here is our
387. 13:50little outro with the illustrations make
388. 13:52sure you know this make sure it's
389. 13:53engraved in your brain make sure you
390. 13:55understand it more importantly and not
391. 13:56just memorize it and the way to do that
392. 13:58is by practicing and actually looking at
393. 14:00the charts and looking out for all of
394. 14:02these different types of candles there's
395. 14:04not that many there's not a lot you need
396. 14:05to know right we're keeping it simple
397. 14:07and straightforward with you guys but
398. 14:09yeah once again thank you for watching
399. 14:11our first episode this was on
400. 14:13candlesticks we're going to be posting a
401. 14:14psychology video right after this
402. 14:16psychology is equally as important if
403. 14:18not more important than actually
404. 14:19understanding the technicals so please
405. 14:22make sure you watch that video right
406. 14:23after as well and this is ICT for
407. 14:26dummies part one
408. 14:29and this is on
409. 14:33[Applause]
410. 14:34[Music]
411. 14:38candlesticks [ __ ]
412. 14:41losers it's a Friday night it's a Friday
413. 14:44night at 8:30 p.m we teaching the homies
414. 14:46about candlesticks but I'm not even
415. 14:48going to go to that place cuz I'mma be
416. 14:50[ __ ] bricks yeah okay lock all right
417. 14:52lock Fu thank you guys for watching and
418. 14:54we'll see you in the next video peace
419. 14:55out