2022 ICT Mentorship Episode 32
Outside-day price action that falls short of an old low can signal a choppy consolidation day, with the range midpoint and the 15:00–16:00 equities close window guiding expectations.
He refers to his tweets that day May 20, 2022.
One of them about the opening range
When an outside day happens, this type of PA formation put the odds in your favor if we’re trading down to an old low and it felt short of it.
When this happens and low is intact - it tends to be a choppy day.
1hr chart
The way we study the PA with ICT concepts - it makes it very easy to fall victim to this type of choppy trading day. It’s aimless trading back and forth.
How to anticipate it? What to look for?
5m naked chart
on days like this - the market many time can present opportunities that look like it’s likely a setup to form but doesn’t really come to fruition.
middle of the range SIBI highlighted
50 - 50 expactation when the range’s EQ is reached
He’s mentioning how he outline the setup of the day would be formed during the last hour session of the day
he said to study the middle of the range
Even though he previously mentioned that a premium SIBI is needed to short on this model - he’s pointing out the SIBI with IOEFD style on this video.
I now understood what made me question this model for a long time - I could have watched it a bit earlier to realize it 🙂
He’s saying that this is called a consolidation day and the algorithm creats an initial range and stays in that range until the afternoon.
15 - 16pm Equities close - that sets the tone for on closed orders
What was happening prior to three o’clock? the market was rallying up to take BSL. Retail look at it as a breakout to go higher, smart money will pair that with their shorts.
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