2022 ICT Mentorship Market Review – August 13, 2022

https://youtu.be/qwmqUgelxsU

Notes by TanjaTrades

Note: Minute 40 and after is a pep talk/rant. You can speed up the video a bit there.

- Most times August trading is choppy and will delay before it moves towards obvious
levels/price points
- Focus on high impact events on the economic calendar.
- DXY for now is sideways, has yet to reach for further sell side liquidity. (if DXY is weaker
= bullish for indices)
- If a balanced candle with a wick precedes a strong imbalance – that wick serves as a
strong level of resistance. See chart below:

- The lower wick before the imbalance lower is a balanced price range- not an order block.
Both sell side and buyside was offered in that wick. Therefore, price does not have to fill
in the FVG all the way because price is already balanced up there. It just wants to
rebalance the inefficiency left by the imbalance where only sell side was offered
previously.
- Volume Imbalance – the price between a candle’s close and the next candle’s open
where there is a lack of a candle body (where the mouse is on chart below)

- Time and Price – when should price be moving?

o During the killzone- 8:30-11am and 1:30-4pm ET. You should be searching for
plays during these killzones.

- In August, price action tends to beat up traders during the choppiness and then they are
afraid to get back in again.

- There were 4 down days- which were against the bias- in August. This is why he
emphasized that August is tough. Focus on the high impact news days.

- All you need is the open, high, low, and close of the previous daily candles, you don’t
need indicators.

- You don’t want to be trading every single day in August. You are practicing a skill- being
still.

- You are either hunting the liquidity, or you are the liquidity

- NQ is a bit ahead of the game – it is just below the relative equal highs. It will probably
reach there on Sunday’s open. Once it reaches there, he does not have an immediate
idea of what will happen. He waits and takes in and studies what does the market want
to do next – does it want to continue or reverse or consolidate? There is not always
something to do right away. Just because it reached the liquidity goal does not mean to
short right away.
- You are your biggest adversary. You have to become friends with that person in the
mirror and forgive yourself for not knowing everything right now, or absorbing it as fast
as you want to-- you don’t need to know everything. Take your time.

- Every one of his students that failed rushed their way though all the videos and did not
retain the information that way.

- One of the beauties of having a journal is going back to your previous losses at a later
time and understanding later why you lost – you see your growth.