AM Session Review & Course Correction transcript

back folks. How are you? Hope you're doing well. All right, just a quick little review. Um, today I was looking for the opportunity to to see if we can get a run up into these relative equal highs, but the market was simply not willing to participate in that. Um, we had several pools of liquidity I was interested in as well. uh the out the gate they opened it up and just sent it straight down and I felt that we would take out these relative equal lows for certain but then I wanted to see if it could get down and take that low out and if it did it's basically relative equal lows between this and that low right there you see that okay so with that my interest was then looking for a run back up and and if the best case scenario would materialize being that we come back up and take out the highs here, here, and here, then that would be a pretty nice morning.

But if you look at what we've seen here, we got this high to that low. Now, watch, here's the secret sauce, okay? I've been teaching this for years now, and that's not on the great high. So, let me fix that. Okay, so we're on the high and the low of this retracement leg with a pool of liquidity still yet to be traded to. So, how far can it go below that, Michael? Well, it's funny you should ask. Let's take a look at it through this.

All right. Ready? And boom. There you go. And that's a pretty that's a pretty safe bet for how far I can trade down. And it's only on the wicks. So notice that even when the bodies came down, it was unwilling to go beyond that. So then we had the last down close candle which I'm using the opening price of that which is changing the day of delivery. Why am I picking that one and not the consecutive up here? Because the opening on this is essentially the same thing as the pool of liquidity, the relative equal lows I just annotated.

So there's several things converging on that specific price level. Now there's nothing inherently wrong. Obviously, you can see how it went down into that. But if you would have used this here, you would arrived at something very similar. So, it's respecting that here. Okay, you see it? Uh, the most important thing is the body of this candlestick. We did not give up the ghost on half of that. And then price rallies up.

I wanted to see it take out this high and then right in here at the low of the cibby right there. I wanted to see it get above that high and we got it here. We created relative equal highs. came back down in um I felt that we could have reversed on my long added it back into inversion fair value gap came back in and stopped me out for a run into the range the range being the low to the highest high in here. So again as I mentioned yesterday uh because of the economic calendar being Wednesday, Thursday, CPI, PPI, high impact news drivers.

The fact that we have the pre-market session now was the opposite today. So, if we look at let's find 7:00. It's at 7:00 9 right there. Okay. What's the market doing essentially during this period of time all inside here? Is it trending? No. But yesterday it was permitted to trend but today it's not. So what does that mean? We're probably going to see some, I guess, one directional movement. And while I wanted to see it admittedly try to run up here and take these individual highs out and then make a run for that.

I was not correct in that today. So what I wanted to see and what I posted publicly uh this is what they did here at 928 29 and 30 immediately run the other direction. Okay, no problem. No problem. I got to wait for it anyway. So the market trades lower, gets down into inefficiency I gave you from Friday right there. See all that? So we trade down through it, come back up into this series of wicks right here. Now watch.

Let me show you. Let me show you some market wizardry. We grade that wick here, the highest one down to that. We're going to take that off. And then we're going to do the same thing with the next one right there to there. Look at that. See that? That right there. That right there is a beautiful gray pole. Okay, a gray pole is where we can look for areas where a gap would be most likely unnoticed by everyone else. Okay.

And when you have consecutive wicks like this, you get these types of things here. Then one more time, it taps it there and it sells off right about then. That's when I posted to Phil Go ahead and send it. Send it where? Down below that low. That's fine. I was mocking him saying that's all you got this morning. You just took it to here. You couldn't take it out that low down here. And once it did go below that like white on rice, I was in there accumulating and building position up, taking it back up into this area right in here.

They kept relative equal highs and then everything else I explained a moment ago. I do suspect now that we could be we could be running down into these relative equal lows right there. So I had this as a draw and this is a draw. See, look at that relative equal lows right there. So there's two of them you need to be aware of. right there and there. Okay, so that's the business for NQ today. And if I get an opportunity to review later on this evening, I'll try, but no promises.

Okay, till I talk to you then, Lord willing, be safe.