August 10th, 2022 | Nasdaq PM Session Bias & Trades Review
all right welcome back boys and girls we are going to review today's prize section on indices specifically for the pm session as i mentioned i was bullish on it and we will review why i believed we are bullish and some of the trades that i've taken also so on my telegram channel that is always free right and the link is always under every video i mentioned at 1 40 pm i said pm session looks bullish to me for nasa and s p possibly new highs on nests for the day let's see and pay attention i only mentioned new highs for nasdaq i did not say s p in this case right um that's important i'll explain in a moment why i felt that nasdaq was a stronger index okay so let's start looking today's price section we had this huge displacement with the 8 30 a.m news there was cpi news i believe right so we created this imbalance and we had this short term low taken out with this candle right here and price rejected it and started going going higher so for me this was my first tell that price broke this short-term low and rejected it ins which was inside the imbalance this was my first tell it we're probably bullish and if we compare snp it did the same thing and the blue line you can see is basically when i tweet um made the post here 140 will go on low time frames you'll see it so same thing happened on s p right the short term low was taken out inside of the imbalance price rejected started going high now pay attention to this very important let's remove this what i'm going to say next is new again this is something i picked up from my own experience and i believe recently in one in one of the market reviews ict actually made pretty much the same comment on price section between comparing price action on euro dollar versus the pound dollar i believe it was a daily chart or maybe one hour i'm not sure exactly but one of the recent videos he mentioned this what i'm going to tell you now very important you can use this in a way as you would you would normally use smt so anyway we had this imbalance and if we zoom in closely we see that this candle never came back inside of this imbalance just fell short slightly from reaching it so never came back inside while snp had the same imbalance and price actually did trade inside of it even just by a little bit still so this was my number two confirmation that we are bullish and nasdaq is stronger with us nasdaq is a stronger index of these two because nasdaq failed to go inside of this imbalance so you see the logic i'm applying here is exactly the same as you would use for smt divergence on the swin highs and swing lows but using an imbalance and again somewhere in the recent videos ict mentioned this so nothing new i'm just showing how to apply this on a um you know on the actual price section charts right so since i'm operating on the one minute chart again all i'm looking is just 15 minute time frame that's the high time frame chart for me it's plenty to work with i think it gave a lot of signs that price in fact wants to go higher okay hopefully this makes sense so this is the time when i made the post right so already had this two confirmations happening and then the third confirmation why i posted and i was already in the trade on nasdaq we had this lobe taken out and then priced aggressively repriced higher we created an imbalance and price trader is in traded inside of this imbalance so i did not see this on time otherwise i would probably be already in this trade here well let me remove this you can see so i just entered already i was in this trade just on this candle right here and my stop was somewhere around here slightly below this slow because i believed if we are bullish based on everything i explained to you there is no reason for price to go below this low otherwise if it does go then i'm simply wrong or maybe there will be another retracement lower before going higher right so small stop loss 10 point stop or so on this one and this was basically two minutes before it i made the post and you can see in fact this was the high of the day initial high of the day 15 minutes later nasdaq did in fact spike above it so this was a nice trade three point something i took partials at around 20 points for a 2r and then closed i closed nasdaq i did not this was a very you know this happened very fast so i did not close at the highest point but somewhere around basically here i closed this was a good trade and on s and p pretty much again it did the same just dropped a little bit further i entered on this can i keep messing this up i entered on this candle here so after i posted trusting so basically i had two trades based on one analysis because i trusted this was actually a um just a one point something scalp yeah 1.6 our scalp i closed here on this candle because this is when nasdaq took out i closed my nasdaq trade when it took out the high and i closed the trade on smp so hopefully this makes sense basically looking at two indices i make my decisions when to enter so this was just a um again i believe we should not go below this level so this was just my stop so this was a scalp 1.6
r or so i closed the trade okay so hopefully you you get the idea why i believe this was bullish so this was if we go back really this price section here was my number three confirmation three confirmations i was bullish i made the call again i'm not going to tell you exactly when to enter this is the whole idea i'm just giving you my bias i've been doing it for 11 months now every time i basically put my reputation on the line when i call market to go in a certain direction and actually this week was really good i co i made three calls and all calls and all of them you know hit my targets the logic was explained and the trades were that were taken uh were explained as well so this was it so this might be kind of these trades might feel like it's you know scary or you feel like you're chasing price but again i'm just working with the data what i see price action if i'm wrong i'm wrong quickly you know my stop loss was pretty small but based on my understanding on the market this is what i see and this was those were two great trades nice trades pretty fast and at the same time as you can see 15 minutes later right so nasdaq did in fact create the high confirming everything i've talked to to you everything i mentioned to you previously right especially with the number two here that nasdaq failed to make go inside this imbalance confirming the nasdaq was in fact a stronger index while smp failed to make a high high eventually at the end of the day it did make a higher high i was not expecting that i'll be honest but that's fine at the time when i was looking at price nasdaq uh was stronger and they did deliver and we created another high also at the end of the day so this is the logic so let's then look at why i immediately when i posted i saw some people saying oh it looks like you know smt on the highs uh i want to go short this is just my view of the market and immediately after this pro this happened right price took out the high there was actually a good short setup absolutely it depends on how you look at the market in consolidations or you know on the low time frames you you like two different people can be one one can be buying another one can be selling within the same kind of you know a couple of hours and both will be right it's just a matter of knowing when to get out this was a loan for me good trade if someone took this short this was a good trade too right i did not participate in this short so it really depends on how you look at price this was again price took out buy side displacement imbalance this was your ict youtube model entry great trade absolutely beautiful trade you know you take partials below this low here this low here probably you close out the trade great but some people were thinking that they were saying basically oh but what about the smt on the highs so we're looking for lower prices so this was the smt right we had the lower low uh lower high on smp and we had relatively close here while nasdaq at the same time it did a high high let me just let me show it like so basically what 1105 1202 yeah i believe those are the same ones right 11-0 yep same ones so this was uh people were looking at this as smt and sure this was an smt the only thing is that again like i mentioned many times it's all about time and price i look at how long it takes to create liquidity pools like relatively close or even how long does it take to form for an smt in the grand scope of saints this smt was not as strong yes sure it delivered short below this lows also this was a great trade if somehow if you just traded this based on smt alone this was a great trade i mean it delivered it makes logical sense let's say you shorted this i don't know somewhere here maybe your stop was here this was a great trade to point something r maybe below this lows right i know but also this happened this smt happened right at noon and while i don't follow every rule ict gives us simply because again it's not required for my style of trading and also because it feels sometimes good to be a rebel too you know but one of the rules that i definitely follow is no trading for me between the lunch hour between noon and 1 pm no trading for me so i would not look at this as a you know trading opportunity maybe if this was a little bit before 12 i would consider this a short but again smt was not as strong it was absolutely present you can see both straight uh indices delivered nicely below this low this low here on nasdaq too but this trade this smt happened only across one hour right basically 11 12 so it it formed across one hour while this whole structure happened across basically the entire new york session so it took much longer to develop this price structure compared to these highs so while this smt was valid it was valid only for a small retracement but on the bigger scale bigger picture high time frame 15 minutes in this case because again i'm dealing with the one minute chart so 15 minute time frame is my high time frame truck okay on the grand scope of since this was just a small retracement just to go higher again so there was nothing wrong with the short it played out absolutely again just the timing was not good but when i posted this this already all this stuff already happened i'm looking still at the bigger picture that's why i believed first nasdaq will create a high high and it did in in about 15 minutes after i posted and eventually another high and eventually smp created another high also here right honestly i was not expecting this but this is a logic again nothing wrong with this trade especially if it was you know maybe before noon you could totally take it and you would be right and then if you're looking for buys you'll be right as well but high time frame again dictates the narrative that's why i stated i'm bullish so that's a trade that i took let me just remove this and it was much easier to understand again if this buy here felt like you know i'm chasing price or you didn't really understand it again this was this trade would require more experience but this however i think this was easy we had our well basically trend line on smp one minute trend line market draft below it and look at the time of day again we are at three o'clock 3 p.m right and a lot of times in ict's videos you would hear him mention that around 3 o'clock the algorithm can start spooning and this is in my understanding this was this is what spooling is it basically finally delivered you know the the higher high it started just pretty much very shallow retracements going higher after this salsa liquidity was taken so again the idea was simple cells are liquidity taken raid now we look for displacement and uh some kind of imbalance to enter i entered on nasdaq again only because i felt still nasdaq was a stronger index so it would deliver my objective faster and it also it went below this low here and this low here but most importantly this low right so we had the nicer imbalance on nasdaq here and this was my entry here i got actually lucky basically almost no drawdown pretty much yeah i think my entry was literally right here just a small tiny wick here and then it started going higher so my stop was somewhere very tiny stop no actually i made it i think it was i know well on my broker i think it was about 10 points well anyway around here doesn't matter really so i went long here i closed i posted the screenshot so i closed pretty much around here after we took out this high and pretty much were at this high this was a great trade i took partials along the way if i didn't take partials it would be pretty much a 5r trade but you know as partials it's less and then i took another smaller position size here this was just a scalp also allowing for it for possibly maybe go lower one more time but also close at the same time here so this was a well still a two hour trade pretty much this is good we had this tiny little imbalance right here you can see so i just entered you know a little bit below it played out nicely again i believed high time frame structure is bullish smp just took out a nice trend line if you want you can probably extend it here so that's your trend line it took it out also had the displacement but a much smaller gap but beautifully delivered inside of it and also went higher so this is the logic i think this trade my first entry here is much easier to understand than maybe the previous trades and i did not wait for this again i just closed i was done so hopefully you understand the logic behind the trades behind the bias right you have to consider again very important the time it takes to form certain liquidity pools while this smt was valid it was relatively weak price did in fact play out nicely right as you would expect from an smt but it was just a retracement during lunch hour to finally eventually go higher again right to finish our um buy side delivery for the day so that's the logic behind it um again let me think yeah i think i covered pretty much everything i wanted to discuss here so don't be discouraged if you still don't really know if it's hard for you to grasp this i think this type of analysis when you compare two indices and really notice subtle differences it takes experience to notice you know if you if you just start started learning this this year maybe four five six months in you probably won't see this right away but maybe after you've been doing this for a year and spending enough time on the charts back testing forward testing you should be able to spot this relatively quickly again all it takes is just to look at two indices and you'll see those things happening over and over again this is your subtle clues that one market is stronger than the other and for potential you know bullish or bearish continuation depending on the market so yeah hopefully this makes sense and you just have to be agile you have to be very agile and be able to adapt to how the market is changing what the market is giving you in terms of price section again two people can look at this on the one minute chart there can be both buying opportunity opportunities and shorting opportunities nothing wrong with that as long as i have a model it works for me as long as i have the narrative and bias that makes sense for me i'm entering the trade and you know if i'm wrong i'm wrong but if i'm right most of the times i'm right so that's how i stay in this business right that's how i pay myself i don't care about anyone else's opinion again the moment you stop caring about what others think about the market is i think when you grow exponentially once you have a working model too like i explained to you here in this small consolidation range really there were both by themselves so doesn't matter which whichever trade works better for your model however you see the market you can capitalize on it small if you understand the high time frame that you should understand that if you short this is just has to be a short you know a relatively small scalp in and out that's the idea obviously it's always good to trade inline even scalp in line with the daily bias but it's not always required but if you are scalping against you just have to understand that you you have to get out early you just have to be comfortable with two two and a half maybe three yards and get out you know not hold for long so hopefully again this makes sense and let me know what you think in the comments i try to explain the easiest way they can certain things again just come with experience but for the most part i think this is i don't know what else to add again so many confirmations for bullishness that's why i went in and stated that i'm bullish alright so that being said i'll talk to you next time take care guys
2022-08-14 08:52
