How New Students Should Start Part 2 transcript

All right. So, we're looking at uh today's morning session. All right. Come on, Caleb. How are you? >> All right. So, we're looking for uh well, initially we're going to look for these highs right here to be drawn to. So, we'll look for that initially out the gate. Looking range. You got a huge discount gap on the open and we're in Monday's versus if everybody got on the daily. We have southside down here. So, it's been going lower.

So, we want to see if it can get up here and sweep that and then roll towards that sell side. Uh, we have a huge range before we get back to yesterday's settlement at uh 0.9511 and a half. So, huge gap. I prefer it leave this low here and then sweep that and then come back down because it would it'll engineer sellside liquidity by them running it higher clear that liquidity and then come down for this and maybe maybe make an attempt to try to get down into that lower octant on that daily bus and bounce outside efficiency these black horizontal lines and that's the midpoint of it there.

So we're in a discount end of it. All right. So, I did take out the low looking for this is buy side right. Uh yesterday we closed our session. I told you that we were going lower. Uh we went lower significantly. It's a tune of about 500 handles. All right. Well, they keep wanting to sell it off. Lower lower quadrant down there on the daily positive balance side efficiency. If it were going to go higher to take out that buy side, ideally it would do it here after taking these right here cuz breakout artists, they're they're trying to sell short here.

So, it would be the best time for it to come back for it there after having taken this broke down aggressively. So, if we can get back above the upper half and inside here, use that as a a discount array to climb up, take out the initial high today, and then clear up these smooth levels over here. These are too smooth. See that? We'll see uh right straight in here. come back up and clear that and how much of the gap, you know, we'll have to look and see what the uh midpoint is on that opening range gap.

So, we'll use the 9:30 opening price there up to 511 half. There's that. And I know it's very difficult to see, but um right there. So it's in Tuesday's first part I got from the 25th of August. So we're looking for a run up into Tuesday's first percent. So that's how we blend those two things together. Now, we can hypothetically, since we're tapering, we're not doing any execution this week. Hypothetic, we're long with the stop below the low.

We'll say it stops at uh 2961. Our fill was uh 29.89. and stop would go to 92 now. So that would cover cost and commissions. Partial would take be taken at this buy side right here. Where's the habit? I I got to show it's not the market replay. Not that it should. >> Yeah, we don't want to see any bodies in the lower half of that Monday first, but it's a fair value. So, no bodies down here. It can it can wick into it.

Preferably, it doesn't. That's enough to start ripping higher now. Like pull this up, clear this high and tear into these uh equal highs. And once it gets there, like I I wouldn't be interested in seeing it go up here to come right back down into this area. I'd want to see it go up here, clear these highs and clear these highs over here and then rip into these. So, there's two uh two pools of liquidity right there. And then above that, we have 2912.

We'll call it That would be a stop out covering costs. No loss for the day yet. So just just we'll call it break even so far. I'm surprised it didn't come up here and clear that. That's so obvious. So, it looks like they may be coming down one more time for another run on that low and then rip it back into the opening range gap. Far below that low, this lower quadrant on the the daily basic If we can leave this partly open like that, that'd be perfect for a potential inversion fair gap once it goes a little bit lower if it wants to do that.

Or either or. If it stops right here and doesn't completely close back in this candlesticks low, that would be uh the next candle could open up, trade down, use that as a foothold to send us up into 154s. 155s. 3 seconds to go. Make that a little bit darker. All right. So, if we can get back above that, treat that as a foothold. Reach up into this one more time. Below there. Sure. Lower quadrant level reached. Yeah, we are definitely in our seasonal tendency for lower prices.

Glad I mentioned that uh two weeks ago. So this is first presented fair value I got for today. So, Tuesday night to the right. We'll be testing the water right now with a small position on see 67 half was the fill Stop. And if we can get it to climb up into this area here, we'll try to see if it can get up into uh the opening range gap a little bit more. 9:30 open right there. So that's our right? That's the that's the gap opening.

So, we extended it a little bit in here. So, now we want to see it get up inside this first presented fair value gap. Treat it as inversion fair value gap because it was a down close. So, we don't want to see it behave as a premium ray to sell off and go lower. That's why I have it shaded orange. Go above it, come back down in, treat it as a foothold, and run right back up into these two by side liquidity pools here.

[clears throat] This stop hypothetic would roll to 2970. So that would cover costs. I want to see speed. If it if it stutters in here, it needs to close above this wick's halfway point consequent corment level. So I'm going to watch that. want to see a close above that dash line and that will give us confirmation that we're likely to clear these buy How far beyond this two buy side like if it wants to go up here how far should you expect it to go right there that's a reasonable objective so we'll be looking for 2912 29,212 rather excuse me so we're now at the high of Monday of August 24th's first presented fair value gap we don't want to see any bodies in the lower half of this so we have they're like sharing a little bit of space in here with that little spot right there.

We want to see it tear off into this high and accelerate through and then reach right on up into that 29,212. Here we go. There's some legs behind it. Let's go. All right. So, we cleared the intraday high. So, we want to start seeing it really start spooling towards these pools of liquidity. Watch that close. See if it wants to close above that dash line. That's a confirmation for f for higher prices. It didn't do it yet.

So, we need to see it either start running now or at least build a close above that because we have a wick here. I'd prefer it to run over top of that. And by doing that, it would by default have close above this or specifically this is what I'm aiming at or not aiming referring to. That wick needs to be completely overtaken by this candle or the very next. Preferably this one. If it's this candle, that means it's really strong.

Her mother just took the girls for a walk. I don't know if you can hear her painting. So, we got this candle here returning back to Monday, August 24th. first presented fair value gap. So we want to see some accumulation there on the upside. Deliver right over top of this wick. >> Can you hear scout lapping up our water? >> Oh, it's actually Piper. >> I'm gonna rip it up here. Let's send it. Let's go. Let's go. Let's go.

Let's go. Let's go. Let's go. Come on. This is the dead pull technique again. We pull price up. Okay, you're dead. You got a dead ringer. If you if you if you [laughter] if you pull price up like this, it's always a dead ringer. Okay, so you got to use a dead pull technique. You got to pull price up. You have to pay extra for that feature on your platforms. It doesn't just come to everybody. All right. All right. So, we had a close above the wick and this wick and above that high.

Wonderful. That's what we're looking for. Or did we get did it get above that? High was 43. Even high was Yep, we got it. So, it's definitely going to have no problem getting up into these pools of liquidity. And we want to see these orders that would be resting here. It ran completely over top of and then extend up into this uh 29,2. We're going to hypothetically say we take a partial off at uh 29,172 and our stop hypothetically runs to 29,100. actually back. >> No, it shouldn't it shouldn't need to do that at all. >> So, there's the the hypothetical stop. hypothetically say that this is partial and then this is our terminus for this morning.

So 33 and a half handles banked if it goes to stop at 29,100. We want to see the body stay in the upper half of this wick. That's ideal. So let's say like this. We'll go here to there. We want to see the bodies kind of like stay inside that watching this down close candle in here. So it got to that one one buy side liquidity. It cleared that out. So we took out initial intraday high and then these smooth highs over here.

They left these intact. So, we're back inside the range. So, we're going to say hypothetically we take one off here. It's 18 50. So 18 and a half 2018 half from 67 half. So do the math on that. 22 29,000 118 half subtracted from 29,67 half. divided I'm sorry subtracted subtract 29,000 67 half >> so 49 handles was taken on one partial we dug down into this wick which is in the upper half of this Monday of August 24th's first percent of fair value gap.

So this candle or the very next candle needs to get legs going to the upside. If we get a a run up in price, even if it doesn't close, if it gets up above here, stop will roll just underneath this candlestick's present low, which is 106. So we'll we'll put six more handles in the in the stop. large gaps like [clears throat] we have today where it's like 400 handlers or more. Um, you always got to at least give it an attempt to try to get into the gap. it may be a moot [clears throat] point to try to do so because it could be exceedingly weak today and just keep selling off and the gap may not be all that important at the moment.

So on days that you try it and if you get stopped out it's okay because it's usually indicative of an easier easier setup to come afterwards. So be willing to sacrifice that like we're doing here. We're trying to get up into the gap. it can come down and hit that 100 stop 29,100. Once it if it hits that then we sit still and we wait a little bit because we have news coming out in like four minutes. We have ISM number or something medium impact driver. >> What' I say?

Medium. >> Yeah. >> Yeah. Listen here. I'll be trying to correct me. I'm CT. Remember that. [laughter] I'd like to get it up a little bit higher than this because that news is going to create probably a little whipsaw of it and it'll be easy to hit that 100 by being so close. Get some legs on that. Get up into that upper half of that wick we measured earlier in the blue shaded area. Here comes the stop. Not yet. I don't think I'm escaping this one though.

Usually I'm pretty good with the stop losses, but I don't think it's it's getting escaped today. No. Stop. All right. So, that that's a stop out. We got how many? 49 handles. >> Yes. >> All right. All right. So, we have 49 handles there and we had 33 and a2 or 32 and 1/2 on the first partial. So, not bad. Not bad. So, we're going to look and see now what impact we have. We came down to first presented fair value got.

I'm going to watch and see. Uh I haven't abandoned the long idea yet. Just give it a chance to book something ahead of that 10:00 news. I still like that 29,212 we trended now remember overnight it's like serious trend so it's reasonable to anticipate this session to be consolidation in the morning session. Okay. So, that's why I'm saying if we can get it, if we can run up in here, it'll clear out this buy side and then rip into this.

And that that's about as far as I see the AM session going because of the type of uh profile that it would be working with. And it's not market profile. It's this like the schematic of how I see price action potentially booking as a over overview like how it should behave. Whereas now we're in consolidation that's reasonable. It's it's reasonable to expect that. I would test one along in here and I'd have a stop at 85.

So go 10350 is entry. 80 is the the stop and it's we're going to say it's two two minis. So we pulled down into first present fair gap and the low of Monday of August 24th's first presented fair value gap. So I want to see an aggressive rip up in here. Hopefully they'll they'll put some kind of fake news out this administration. All right. So, we got up into that uh wick again, but it rejected that pretty sharply very quickly.

[snorts] So, I want to see it run over top of that wick. If it's going to be bullish, it'll run right back over top of this on the next candle or turn this one completely back into a bullish candle you're operating in is in consolidation. So, you got to be really really nimble and be very forgiving to yourself if if you [snorts] get chopped up. If you're brand new, let that experience happen while watching price. It's real important to understand what it feels like to try to expect protraction like moves that move one directional.

Um because you won't otherwise recognize the danger of trying to get, you know, real excited about chasing after a move. All right, stop would go to 105. What I say the fill was going to be hypothetically. >> You should just be keeping track of this. I'll get out my notepad. >> Yeah, whenever I'm giving you numbers, you got to be right next to you should be you should have a notepad next to you. Like, you should be writing things down.

Just watching ain't enough. I yell at my students for that. And here you are, my son not doing it. We want to see it get above and close above that blue shaded area, which is the upper half of that wick. We're going to say the stops at 2910. So, it's definitely covering costs. say that this would be a partial up here. [clears throat] this wick. We want to see the body stay in the upper half of that. It's a stopout. So, covered cost there.

That looks meaningful there. All right. So, we're going to sell short there. Right there. We're in at 9450. 9450 is the fill on short. And we're going to be looking for it to rip lower and take out that low right there right there. We'll use a stop at the 130 uh too minis is the tape reading hypothetical. We want to see price stay inside of Monday's first bag gap. Watch this wick. Okay, half of that, the lower half down to the close of that candlestick.

That's where it's going to be like premium sensitivity. So, it be like something like that, not that color. No extension. Add to it there two more. So we have four minis short fill at 10950. that news didn't really have all that much impact. Look like they uh just used to take it down back into the days first of Vega. I'm wrong. I'm closing. That was a 20 point hit. Here's the 130 here. That would have been a full stop out if it goes there.

We go. That would be the full stop. So, I see the stop. All right. So now if it touches that blue line again, we're going long four. I'll take the four here. 34 134 quarter. Stop is here underneath this low. This is tape reading. You're not pushing a demo. You're not watching numbers go up and down and, you know, take profit and loss. You're just getting a feel for reading price. And the stop would be under here. Action block right here.

Up close candles, closing price. We want to see accumulation there, not roll over top of it. We want to see it use that and go higher. No partials on this up here. So, we're going to move this up. Actually, uh we'll take it at 195. There's that. So I'll add two more. We're inside this B side of balance outside efficiency. Treat that as a institution orderflow entry drill where it's just got in there. We want to leave this portion open. like this.

Now, because it's consolidation, that's the profile that we're in for the morning session. I'm more inclined in trying to go long because of the gaps in the the influence of the of the gap because we have a huge regular trading hours, opening range gap. If we look at it through this freaking trading hours gap will be visible easier when we see it like this. That's the difference from yesterday and today. So there's a lot of open air space up there.

I know people are going to look at this and say, "Wow, that's a lot of stuff going on the chart." I'll explain all that when we're done. So, I'm more inclined to while we're in consolidation, I want to take longs. I want to be more if I take a trade, it's heavier-handed on the longs because it's more likely to have a a run up into the overnight gap than it [clears throat] is to pursue lower prices. It's not to say that it can't go lower.

It just means that because of that huge gap, I'm more inclined to anticipate that the buys would be more likely to yield a surprising victory in um an exaggerated run in my favor than versus trying to go short on a day with such a large gap. [clears throat] this wick. We want to see right here, the upper half of that, which we'll just say it's the top of this. This is actually a little bit lower. I think we don't want to see any kind of exploration below that with the bodies.

You see see it's slightly lower with the box I drew on the buy side and bounce sell sign efficiency and then the wick itself is there. So no bodies below that. We don't want to see that at all. Wicks formed by creating the movement beyond the boundary. back to my entry. Remember, the stop loss is just below that candlestick's low. That little alert right there, I'll tell you. Soon as we get to 10:30, that's 1 hour's dealing range.

Then it becomes much more likely that the gap stays open for a while. There's a stop. Okay. Now this becomes a potential inversion fair value gap. we close below it, it this becomes an inversion fair gap because we've taken out a high with this run here. See how overall price is just not in a hurry to get anywhere. >> Yeah, because we we had a lot of movement lower overnight. So far, we haven't closed below this. So this is not yet a inversion fair value despite that it moved below a here and here the the close below is what uh warrants it and see it didn't do it there either so it's staying inside there so it's still operating under this this mode here hypothetically go long here at 132.

So 132 long, long right there. And we'll say stop is here, right below that low. So we'll do this. There's our stop. Go 20 20 handles. 21 handles. Something like that. We'll say it's two minis again favoring the long side because of the overnight gap and we didn't see this blue shaded area act as an inversion fair value gap. So it didn't it didn't tell us that it wants to go lower based on the rules I got. Soon as we get to this line right here, things should start getting a little bit more determined to either go higher or lower.

There we go. See, you people thought I forgot how to do this stuff. [snorts] There will be a partial here that rolls to 29,135. So no uh no open risk now. We'll do 35 half. there. Take these lines off here. We don't need that anymore. partial from earlier. That's not what I wanted for this idea. So, disregard that. Say I didn't I didn't I didn't get that. So, if it comes down, stops me out. You know, it's even on the trade, but I don't want this to count as the uh the partial for this run.

I want this one here to change to 97. And this one here, I want to see if I can get it to uh go a little bit further than that. So, I'll take a partial here. sacrifice the run to this if it wants to reverse after it gets there. That's just something I'm willing to assume. So have another buy side and bounce outside efficiency here. This bar the same one box close open 33 half. So there is a volume of bounce there. So so far we look we just want to see an institutional refle gap closure.

We don't want a full gap closure. We want to see it just dip its toe in there and then say, "Nah, I ain't got to go down there. I got things to go and do higher." So, you got to go in here and start doing the dead pull technique again. You got to grab a hold of the candle and start pulling it up. Start pulling it up. 35 stop is a even covered cost. Nothing negative on the day on that. And we should still be positive because we had 49 handles in the other part and 33 or 32 and a half in the other.

So, we bumped that other buy side liquidity very shallowly though, right here. So, it's just a little bit of a a bump. That's enough, but nonetheless, I'd prefer because of the gap, I'd like to see it put a body up above that. That's much more preferred. So far, we have a small little segment of price action that did not get filled for that gap. That's the portion that's left open based on the volume of balance. That candlestick's close is 29,133 quarter.

The next candlestick's open is 29,133 half. So, it's a quarter difference or one tick. So there definitely is a volume imbalance there. And because of that, this portion of the candlestick low, that candlestick's low did not trade down to this candlestick's close. And that's why we're getting this nice little reaction here. Like I said, we want to see that buy side. If orderflow is still bullish, we want to see this portion stay open and not come back down and fill it.

Again, I'm pantoiming a new student, someone that would be exploring these ideas, not necessarily expecting them to know what I'm doing, but like I'm in I'm encapsulating probably the first two months of what a new student would be doing. Obviously, it's unrealistic for me to try to do like a complete day one with the with the you know, like I can't I can't forget my experience. That that's that's the problem. So, I'm trying to uh take that off here and we're going to just move this up a little bit.

I'm trying to pantomime to the best of my ability what it would be closest to for a new student using the stuff I teach and what observations they would make and how how can they test it and showing what it feels like to to see it not work. How to keep going back in and still tape read it but not get worried about the outcome of each one of these transactions. So now we have this key level here because it's two two things.

Number one, it's part of the opening range gap. See that right here? That's the 930 opening price. So with that, we have our key levels there. And then we have the levels that are part of that daily buy sign balance sell sign efficiency. So, there's two things that layer right there at that same level. And I'll show you what I mean. We're looking at um uh this gray shaded box here and that candlestick's close. That candlestick's low.

That's that big buy sell sign efficiency. Okay. And right now we're here. See at 167 65 1/2 65 quarter 64 to get to 29,212. Okay, that's still not even in the blue shaded area of this volume imbalance. He's the big void of any bodies being in there, but it's in the upper half of this buy side and bounce outside efficiency. So, every one of these key levels here, these big vertical, I'm sorry, horizontal lines, that's what this level is here, here, here, here.

Those are that one. that one and that one. And then you have the opening range gap, which is why I'm going to be teaching here in today on how you want to have individual layouts or work workplaces to do your charting. Okay, now this is becoming a little bit problematic because we have high high high. This needs to really tear through that or we're going downtown. So, we're going to take a partial off at 53 and A2. So, 53 and A2.

We have a partial. So, that's uh 20 handles. If you ever have like a inefficiency on the daily time frame and you grade it out with the fib and those levels agree with a exact level on the opening range gap like we have here that this is being these are measurements on the opening range gap. So every one of these lines, watch from this candlesticks opening, watch go straight up. Here's one, two, three, four. That's the midpoint or the opening range gap consequent encouragement.

Normally, we look for that to be traded to with 70% likelihood by 10:00 a.m., but we haven't seen it yet. So, we're waiting for like a deferred delivery to see if it can get there. It could it could just avoid doing it at all today. But I like this one here because we have this level is part of the daily buy sign efficiency. That big gray box on the daily chart and it is an uh a key level of the opening range gap. So if half that's an octant that's lower quadrant.

So lower quadrant lowest octant then the lowest percentile. So there's two levels lining right up at 29,212. So that's why I I care more about it getting to that level than getting to the mid gap. Even though there's a lot of things here that's saying that that's likely too, I don't want to fade that on a day like today. Uh because it's non-farm payroll week. It is a day after significant consolidation and then an overnight huge run lower and it's just I want to have a low hanging fruit objective because it's part of a consolidation profile day.

So I'm I'm just looking for it to get there. And if it can get to here, that's a partial. And then if it can get to that level, I want to see does it have any uncction to go higher at that point or does it go there and then give up the ghost and and break aggressively lower. So, we'll see. We shall see. But all the students that are watching this as a as a delayed lecture cuz you're watching a recording. Um you can see how these ideas from transitioning from a trending session then to a choppy consolidation but still working towards a direction.

We already partialed out with 20 handles and the stop still sits at 135 even. that covers costs on the balance of the position hypothetically. So we had two three times we went above it. We went here above that old buy side over here. I changed the line on it. This is where it was. So, we did it here on this candle, on this candle, this candle, this candle. So, you know, we're at that crossroads where we're at a a key level, the lowest octant on the opening range gap.

And then the lowest quadrant on the opening range gap is here, which is also the same uh level for the daily bside balance sell side efficiency. So very very tricky. You just got to submit yourself to whatever is going to happen. Either it goes down and takes your stop and you're at break even on the balance, but you've taken a partial for 20 handles out of it. Being upset at that point if you get stopped out is is foolish is what I'm saying. especially if you're brand new.

It keeps trying to dig higher, higher, higher, higher, and it didn't go higher, high there. So, we're going to see what we get. If you really break down in here, this could become a inversion fair value. this whole business here. You see it used it here. Ideally, we don't want to see it come back down there because that means it's bullish. If it can't come down there, but goes higher, that's that's underlying order flow.

That's bullish. So in that 10:30 hour I told you things are going to start speeding up a little bit because we have 1 hour's dealing range in place now. So proprietary algorithms will start firing off now after 10:30. Um, once this candlestick closes, you should start seeing a little bit more animation and price action because that's the nature of the beast. A little bit more secures a a partial Now we have a nice clean body above those relative equal highs over here which is like I said I wanted to see that earlier.

So this this line right here and the other line from those two time frames. There's our partial. Okay. So we've secured a nice around 70 handles I think it was. real close to it, like 60, we'll call it 60 handles. I lost track of the the thing, but we want to see it obviously get to this level here. And if it starts to trade above it, then we'll look to bring the stop loss up. But I I'll have to see how this candlestick closes and what we look like when we touch these lines.

If we do, I could be wrong still. It happens sometimes. Yeah. So overall for a very challenging morning so far for a very large range gap, you know, we had uh we had one losing transaction. So we gave back 20 handles or so out of now what 50. So that's not bad being net around 125 130 handles on the day. And that's how you you encourage yourself doing these things without placing a demo trade on. Don't worry about the hypothetical pretend money.

That that's not important. The importance is is reading price action, paying attention to very specific things that I teach in the YouTube channel in the lectures and the things I talk about that are salient. And since we're dealing with two primary things here today, which is first presented fair gaps and opening range gaps, where they lay, where they form in difference to the things I talked about in the first lecture yesterday.

So we're we're bridging two things and two schools of thought higher time frame PDAs and key levels and transposing them onto your lower time frames and then blending in difference between where we settled at regular trading hours yesterday at 4:14 p.m. Eastern time and then we were opened up at 9:30 Eastern time today. That's that's the beginning of the regular trading hours at 9:30 Eastern time, but they end at 9:14 p.m.

Eastern time. All right, we hit it. So, do we see any kind of premium sensitivity there? In other words, what you would expect as classic resistance or does it go through it and does it create a PDA that we can use that's above it? So, we're going to say this the stop loss now trails to this candlesticks low. And we're going to take that one off. We're going to say we have two uh minis left. We're going to take one off again at uh 213 if it can if it can book at 213.

There you go. It booked. So, we have a partial layer. Now, we have one contract left that's trailing with a stop right below that low. So, you know, we're just adding it up today. So, it just keeps building higher and higher and higher. And there's still going to be people in the comments section. It's going to be like, "Why didn't you take a trade?" forgetting the fact that I'm teaching a brand new student that would not be expected to take a trade, not even with a demo.

It's just these people are completely smoothrained. It's crazy. I had a guy in the comments yesterday. He complained. He said, "You talk a lot that could have been said in a whole lot less time when the whole thing we did yesterday was talking over two hours of price action. How you going to say what's going to happen on individual candlestick basis that would support an idea or negate an idea that transverses over or traverses rather over two hours of time?

How you going to how you going to say something about all of that and say it in less words and still be meaningful impactful? Useless people. Useless man. Immediately banned from the channel. [laughter] You can you can you can you can post anything you want. Nobody sees it. I don't see it. Only you do. Nonsense, man. Just straight nonsense. So admittedly, you know, as as a trader that would be, okay, I know I'm looking for some measure of return back inside the opening range gap.

The ideal scenario would be today's first presented fair value gap here and here and here. Those are your entries. all in these candles here. There, if you're really being aggressive about it, there's your last chance for adding on a pyramid goes higher if you wanted to use the order block there. Extension off. So that's that uh the close I'm sorry the open on this candle is 29,116 even. The low on that is exactly 29,116 even.

That's an order block. That's not a that's not a demand zone. [laughter] It's fun. Set them up. I'll knock them down. So um now we sit and wait and see if we get any more juice out of this lemon. uh any rally up that does twice this little bit of a of a pullback here. Watch what I mean by this from here to there. You see that? That range is what I'm looking at. If I get some lines on it, it does this range back and click trades above it and goes up to here, then the stop would be brought right below that low.

So if it trades here, that's this range redelivering that same range and then again up here. So this if it trades to that level, the stock needs to be brought up to here. Otherwise, it stays right where it's at, right at that candlestick's low. Why am I saying that? This is actually kind of like an advanced topic, but I'm I thought about doing it and explaining something. So, there you go. This is something extra. It created a high.

Now, we're consolidating in here. Ideally, I'd like to see it continue, but if it trades up to this point here, it's more likely to have a deeper retracement after going here. And I wouldn't want to give up more than that. Not to say that I wouldn't take the the trade off in any retracements prior to coming back down into that level if it can touch here. Now, since it made a slightly lower low here, the same idea does this.

And then this got go up higher because it's got to lay on the high of the candlesticks right there. And I'm just eyeballing it. So this little bit of a retracement if we clear these highs, I want to see it try to get to this level here, then the stop and go just below this low and but I would be looking for reasons to either scale off something or close based on the price action once it hits there because it could just go up here and then start to roll over.

Worst case scenario be is you bring the stop up, it shoots up, hits it, but then immediately the next candle in one fell swoop goes straight down. Rare, but it can happen. Very nice. Very nice. Just a little bit. So, I said we have two more on. So, I'm actually going to say that we're going to take one off right there just before we hit that level just before we get to it. May not get there. May fail to get there at all entirely, but uh it'd be nice to get a partial there.

And then the single contract will change the stop from here to just below that low. final one we'll try to get off at the low of that Wednesday last week uh August 26th first present a very bad gap low. Okay, so we're looking for a partial just below this low here or this line here rather, which is just simply this range of retracement projected above there. And then this is what we look for that it could fail right here to be fair.

Obviously, when you're doing it as a student, you want to have a notepad in hand writing down. I was expecting my son to be doing all this this morning cuz he's being trained with it, too. But uh the the numbers I called out this morning in this lecture here, you write them down yourself and use it as a instead of a mini say it was the micro and so every one point and one point would be like for instance like 160 to 161 if you're long if you're trying to make money going up.

Um and that would be $2 per point. Okay? or 50 cents per tick and there's four ticks in every one point. So one point is a whole number difference between like right now it's trading at 17 17 18 that was one handle that's one point. So that's four ticks that moved and fluctuates. And then over time, you know, when you when you get a little bit more comfortable with seeing the the volatility, then if you want to transition to keeping record with a mini, it would be $20 per point. or $5 per tick.

And there's four ticks per one handle or one full figure move. Just fell short of our our partial on the last two contracts. And one would come off if it hits that. I'm actually going to bring the stop up just below this now. I don't want to monkey around with it anymore. It's kind of his video is getting kind of long. Should be hitting our partial in here. Phil, send it up here. Thank you so much. Thank you so much.

We're just killing it today. We're just killing it. All right. So, now I'm going to place a stop below that old reference point we used there. And this stop is no longer valid. So, if it comes down, stops us out there, we got a good day. Herus on our final single contract is going to be right at that level there. at a low of last well not last but uh Wednesday's um yeah last week's Wednesday August 26th first present gap okay remove these lines now they're no longer important to me all we're doing is using key levels, watching new PDA rays form around them, and working on the narrative that it's more likely to go up into the open range gap from yesterday's 4:14 p.m.

Eastern time settlement price for regular trading hours and where we opened at 9:30 over here. Okay, so [sighs] all in all, not bad. Not bad. Only had one losing transaction in here. Looks like I'm human, which is nice. It's good. You guys need to see that kind of stuff. All right, send it. Get up there and touch Wednesday's first present. Come on, boy. The octant inside of that, you could use that as your individual draw.

Um, I'm just going to do it because I just want the video to be shorter. I'm afraid it's going to just get up here and just spend too much time before it gets there. It's been a slow crawl up, but it's definitely going where we were looking for. Okay. So, uh it's more more likely to go into the opening range gap after a trending session, then goes into consolidation initially, first uh portion of the morning, but it's eventually going to resume and go where there's no data in regular trading hours.

So, even though we traded in these levels last night before 9:30 Eastern time AM, regular trading hours are more likely and more significant when they book at those same prices. Does that make sense? In other words, whatever we see in electronic trading hours should be by context and and confirmation delivered also in regular trading hours. Otherwise, it's just something that happened overnight during glowbacks. Oh. Uh oh.

Looks like Looks like he might pull another one off. Looks like he might pull another one off. Come on. You're just right there. Come on. I just got a feeling. I just got a feeling. Little pig. Little pig. Let me in. And it went to the octant. See? Right to the octant. Now, be honest, son. Be honest. Say you weren't my son. Say you weren't my son and you saw the old man doing this. Would you be inspired to study what it is that I'm teaching? 33 years, pal.

Okay. 34 in November. We talking about 27. Don't be kind. Don't be short changing me, boy. Don't be short changing me. All right. So, anyway, um that to me, I think is a good place to uh close it. It's done a really good job of um of delivering how I believe or I should have done it. So, let me quickly do a screenshot. Let these folks know that we were doing what we were doing here. Oh, there's the Daredevil lecture rendering.

Uh, all right. That's it, Jack. Um, I think that we will be when I screen sharing my Did you see me go on X just now or did it just show the chart still? Okay. So, it's active everything I show in this individual window. Okay. I got it. >> So, now look look at look at this reaction here. Look at that. Look at that. That to me is so sweet. I love seeing that. Like anybody else, like if you were looking at like this, watch this.

Ready? Naked. Notice it's clearing these highs, but we didn't get to these highs yet. And look at this nice little sharp reaction off of that. And remember, we were in looking at it right there at 9:30, expecting it to go higher going into at least minimum of 29,212 because it shared the gradient levels from the daily buy sign efficiency and the overnight range of the opening range gap. This is the gap. see that it's more likely to see it.

See if I start drawing on it, it's going to populate everything back on there. But just from this point here, the opening price there and where we settled there halfway is about right in that area here. So, I wasn't demanding that it get there. I wanted some kind of objective that I can aim for where the opening range gap fib levels that we grade with agreed with a level from the daily as part of that um basic cell efficiency right here.

And by having that graded, you'll see that that 29,212 level shared both those key levels. So, it makes it real easy, like a no-brainer. It's likely to draw up into that that level. And you don't need to be looking at any kind of order flow stuff. You don't need to look at any kind of inside the candle stuff cuz the candle's going to tell you everything. You can read that book by its cover. And that's that's a one oneanddone type thing.

You don't need to advance the the information beyond that. Open, high, low, and close. And with time, it's forming. That's it. And those types of things will will serve you well. All right, son. That's going to be it. I will catch up with you later on. Um, I'll text you shortly when I get this rendered and uh, we'll touch base then. I love you. All right. Love you.