Inside ICT Student's Mind Vol. 2 | NASDAQ Long Live Price Action Reading
all right welcome everyone so looking at nasdaq here i want to see if we can get a short trade so we have this asian high being broken right and this price action is actually very very ugly ugly a lot of wicks wicks wicks pretty ugly so this is a pretty difficult environment to trade in if we look at s p at the same time we see that s p did not break the high established in asia so we do have a cracking correlation it's your smt and i'm thinking nasdaq should punch a little bit higher and then we would possibly short this in on my other monitor i'm looking at it on the lower time frames and um well this is an interesting area obviously right here but if we short i would not need price to go all the way down here for a good trade um and this low is also looks interesting to me because this low started an energetic run up that you know took out this initial high that took out the asian high so i want to see trade higher than this high and then potentially reverse and these laws right here also they look very clean to me this is your support textbook support okay let's see and look at s p 500 also yeah i don't want to short it right now i believe we should see one more punch higher uh all right so i would what i would like to see is actually price go higher to take out this high now let's see if we can scalp this by and then go in for a short again this is a hypothetical trade i'm not trading until june uh let's just enter here whatever yeah so it's here with a stop here 45 point stop target this so this will be just a scalp a little bit over yeah 1.8 is good enough i think 45. again just trying to show you what's happening in my mind when i take trade we have this imbalance right here we have your order block also we have an imbalance on the five-minute chart and got rejected so that was the reason for my entry lawn you have buy side liquidity here this will be just 1.8 scalp and everything is done in real time time right now is 11 11 17 late in the am session and time on my computer is matching also just off by a few seconds that's okay and again obviously no replay buttons being pushed hopefully the new background darker background makes it easier to see price too i had a few people asking me to change it so well here we're definitely not changing it to white because black is always easier on the eyes this would be a hypothetical scalp actually seeing this i'm going to reduce my risk to this low 35 points just going to reduce risk yeah i just wanted to show you what happens in my mind as a scalper intraday trader short-term trader why would they take certain trades and hopefully you can learn from this um let's see i don't think i'll be recording this short if it does present itself because i don't want to make this video too long and um we'll see i have to be somewhere also in a few hours so might just be might just might do this by setup believing that we should see a cell coming in later on also because this is just too clean and again my interest in this slow being taken but for now i see bullish price action taking out this high going into lunch new york lunch for equities yeah and that's that um smp looks good too okay this looks pretty good so now in the next few minutes i would like to see price expand higher and this is a hypothetical trade i'm not trading until june i've done enough for myself i just want to rest and recharge mentally from the markets it's very important very important to have a clear clean clear mind okay this is looking good let's name this and again that's why you know this caliper i can take two three trades four trades a day and uh again usually anywhere between two to three hour trades in this case a little bit less than two i trade but as you can see the entry was pretty sniper as i believe we should see lower prices so i'm just not being too always alice but i saw an opportunity to go along i took it so if i take two three four trades a day that's how i can run up my equity pretty fast without having to use high risk multiple trades throughout the day that's how i can get some nice gains fairly quickly uh what do we have here we do have an imbalance small tiny imbalance also together with this red candle here so can pierce inside of it yeah that's fine and then i would like to price to see price resume going higher this looks pretty good to me was this 11 minutes 12 minutes recording yeah no but yeah i don't want to make this video too long so i'm definitely not going to wait until if it in fact wants to sell off gives any confirmation so i'm just going to record this by and we'll see if we get a cell later but um we'll see okay do notice how that high did not just fail to break like this candle's high wait did it break it actually oh it did break it a little bit but just by a tiny portion tiny portion so it's really just again building up some buy side here so i gives me another confirmation we should see higher prices and again i'm not surprised honestly on the um okay so i don't want price to go below this here i want to state above it'll be nice if we can close inside mean balance okay all right well this is not very nice let's see i want to see how this candle closes maybe just because of this recent volatility all we have to do release again spike here i really want this candle to close you know have a wick a long way can close with a small body so far so good actually yeah so all right that's fine i was wrong about this candle and that's okay um again i can get 100 everything right but i wanted to see i wanted to let you know my logic behind those things and the buy idea is still valid this is this is pretty good this is like this week is pretty much half the same size of the body you are inside this imbalance so now yeah it is taking too long i really want to see price expand higher this looks pretty ugly this looks all pretty ugly on the 15-minute chart but then again we had a huge drop yesterday so you can expect that the next day will be some kind of a consolidation day or you know not much not too much going on so it is a difficult environment to trade in it is not easy but it's definitely taken longer than i would have liked so let's see okay let's actually quickly see what smp is doing yeah a lot of volatility you can see a lot of this candles with large wicks so this is actually looking good so this is good the fact that again we did not break this candle and we're going up in long candles with long wicks i really want to see price expand higher notice also how again even we had those wicks the bodies of the candles really close inside this candle so again this week suggests because of volatility but the bulk of the volume just like michael always mentions it really close inside this candle so on a less volatile day i would prefer it to stay just you know not break this candle but we get what we get i'm not afraid to be wrong in fuse in a you know in a few instances however the buy idea is still valid it's just taking way too long yeah it's been what 20 minutes almost this is all just consolidation but we are approaching lunch hours so i would like to see lunch spike up and then maybe maybe we'll see a reversal later this is looking good i think we should expand higher really take out this highs very soon see how this 30 second chart looks like again notice so much price section inside this gap here now this candle just wicked inside of it you should see an expansion now in the next few minutes yeah really slow really very slow price action very muddy on the 15-minute chart so this is different those this is the type of environments that are difficult to trade in it's definitely taking more time than i would have liked and you know just because right now we are what just because it's taking so long i'm going to put my stop at break even right now because i just don't like the fact that we have been consolidating basically ranging here for so long so if i'm wrong it's just going to be a break even trade in a hypothetical trade of course but i hope you get the idea i don't like price spending too much time there so i'm just going to protect myself because because of the timing element only uh any kind of other day where maybe we have more high impact news or a day that um again we had a huge decline yesterday a huge sell-off so it's from experience you'll see that a lot of times after a huge some kind of like run huge days bullish or bearish days next day is usually um you know lessardic and price action so this is good again this is a risk free trade regardless in the worst case i'm not going to take any partials obviously because we're really targeting one to eight and the worst case is just going to take us out to break human and again just trying to show you how i would personally approach this particular scenario again pretty difficult day to trade but on a one minute chart you can always usually you can always find something so yeah the trade is now risk-free and the drawdown on this trade was what like six points six seven points not bad not bad we are aiming for 80 points 82 points let's see almost there yeah usually these types of scalps short trades they usually don't take this long or by the time it's been 25 minutes pretty much by that time we'll have something like 3r maybe around that two and a half three hour trade but i think this example is interesting because again it shows you how to navigate um difficult environments because it really is difficult all right we took out the high this is good just give me a little bit higher punch to my target be lovely be lovely to see almost there come on boom right there perfect perfect okay and yeah so again our original stop was 40 can we 45 points right so this was your one two eight ish trade and then i reduced this to 35 points just to this low and then we made the risk free and sure you can get a 2r basically here with this but this was a really good trade from a scalper's perspective again what six point drawdown only here and that was only wrong that we actually did break this candle but again the bodies look at how beautiful this is that the bodies of the candles close inside this candle so high volatility today uh we can expect certain wicks and again look at this let me just remove all of this this is very very ugly this is very ugly so you can really only trade this on like lower time frames one minute charts 30 second charts even in the five minute it looks very ugly so anyway uh this video is still longer than i would have hoped but i hope you find this useful i hope this is interesting for you to see how you can navigate certain scenes and we'll see if later on we'll get a drop that i'm looking for but this was a good trade this is a good trade very low drawdown just took so long and very long so until i talk to you next time be safe and have everyone have a great day take care
2022-05-23 12:09
