2022 ICT Mentorship Episode 32

Summary

The presenter analyzes a choppy “consolidation day” in an unnamed equity-market instrument. He says the prior session was an outside day with a down close—price traded above the previous day’s high and below its low—and argues that this pattern can favor a return toward an older low while often producing difficult, back-and-forth trading.

He describes the day’s clearest setup as a late-session move above nearby highs that swept buy-side liquidity, followed by a reversal toward the day’s range midpoint. He says he outlined the setup on Twitter in advance. The instrument is not named; the 3,900-level prices may suggest an equity index or index future, but no ticker or contract is specified.

Price Levels and Reported Trade

• Previous day’s older low: 3,855. The market reportedly fell short at 3,856 before turning higher.
• Intraday low cited: 3,872.25.
• Prior high or target cited: 3,933.25. Price later traded above nearby highs.
• Reported short entry: 3,940.75.
• Reported partial exit: 3,908.75, described as the middle of the day’s range.
• He says he left a position open with a limit order at 3,855. Later, he mentions having two units “in float” and taking one off; the exact position size and sequence are unclear.

Framework Described

• Assess the prior session: An outside day with a down close may set up a choppy session and make a move toward an older low plausible, but not guaranteed.
• Define the current dealing range: Mark the session’s high and low, then identify the midpoint as a potential price magnet on a consolidation day.
• Track liquidity and structure: Note relative-equal highs and lows, short-term swing points, and fair value gaps. Avoid forcing a trade when the price action does not present a clear setup.
• Expect late-session activity: The presenter says consolidation can persist through the day, with a move between 3:00 and 4:00 p.m. New York time around the equity close. In his interpretation, price may run above the range and take buy stops before returning toward the midpoint.
• Look for confirmation before shorting: His example combines a sweep of buy-side liquidity with a bearish structure break and a retracement into a fair value gap, targeting a move back into the range.
• Manage risk and avoid chop: He warns that range-bound price action can reverse, stop traders out, and go nowhere. He describes scaling out at the midpoint and leaving a remaining position for a lower target.

The presenter says his son’s live account, linked through AMP on TradingView, grew from $6,000 to more than $10,000 during the week. This is a personal anecdote, not independently verified performance data.

Disclosures and Cautions

• The presenter says his commentary is not a signal service. The subtitles contain no explicit “not financial advice” disclaimer.
• He emphasizes that much of the session involved difficult, choppy price action and says traders should not treat every fluctuation as a setup.
• His claims that the trade was outlined in advance and that the account grew are the presenter’s own assertions.

Presenter/source: ICT (The Inner Circle Trader), who refers viewers to his Twitter feed for time-stamped commentary.