Market

Structure:
Wholesale / Retail
Market Structure - Wholesale / Retail:

Be very careful in assuming that you truly understand it.

A lot of people learning to trade will dismiss something.
Most people come to a point where they feel like they have
something and they got it, but really they don’t.

Don’t assume that you just have it.

Really put the work in to study charts and make sure you
understand exactly the point of MS concepts.

A lot of people have that “Ah ha” moment but it really

doesn’t translate to their trading.

If you DO understand the concepts then you should become

a net winning trader for the most part.

If you’re a break-even trader or worst then you do not have

this part down.
Minor Swing High/Low
m. SH: Any candle with a wick that has two candles The only other rule is that a you have to alternate between a Summary:
on the left and right that have lower wicks. swing high and swing low. You can never have a swing high
followed by a swing high or vice versa. Two candles
m. SL: Any candle with a wick that has two candles
on the left and right that have higher wicks. before and after.
Always alternate
SH / SL

This definition is key to

understanding the next
concept of Major Swing.

However, minor swings

can be used for CHoCh.

If you get a swing high

followed by a swing low
BUT another swing high is
not made, you will need to
move your swing low to the
Note: Other people
next swing low to appear.
have different forms of
this definition. This is
Mr. A’s rule-based
definition that he likes.
MAJOR Swing High/Low
Ex:
SH/SL: Same thing as minor Swings but you are going to add a rule…
Break
First, you need to understand which direction the trend is because
that is a key element. The reason is because you are going to
ASSUME CONTINUATION.
Note: Statistically, continuations happen more often than reversals.

Additional rule: when you break structure on-close (previous swing)

you then search for the next swing and mark it.
Example:
Looks like it is going to
form a new SL here
but continues w/o
giving two higher wicks.

This is a chance to
3. Move to next catch this move on a
SH lower TF.
highest SH between
the two points
New SH

SL

1. On-close break

2. Look for SL to appear

New SL

New SL
As new data appears, each new level becomes the level to break and then assume continuation.
Example:

3. When a bull trend

breaks bear... the
swing high remains
the same until there 6. ***The next SH in
is continuation down a downtrend is the
HIGHEST point
between the
previous swing low
0.382 and the BoS***

1. Lost structure;
Assume continuation
to the downside

2. Look for SL

4. Next BoS 5. Find next SL

(somewhere below
because no 2 candle L&R
rule in this small range
before the next dump)
Value Zone:
3. SH remains because of reversal 4. Expect continuation to downside.
4H
Look for reasons to short in value zone.
LTF range forms at wholesale price
Short Ex:
1 ATR above
SFP VALUE ZONE
the high
Momo
exhaustion Back to the value zone and gives
SFP/qualified True-Vib Signal

1. Lost structure;
Assume continuation
to the downside
After a reversal break it is ok to look for Longs in a
2. New Repeat: Lost
type of mean-reversion play, but take profit on
your counter and expect continuation in the value Swing Low SFP
End up getting a swing
structure
zone and start looking for Shorts. failure on the other side.
(See pink notes to the right)
You can expand this
dramatically and go into
Lower TFs and look at how
a Swing Failure on this side
can also lead you to type
of Mean Reversion type of
bounce. You can get very
advanced but Mr.A advises
✓ Set your Fibonacci Retracement at your SH and SL not to go down that road
until you have it on such a
deep level where you see it
DUMP
✓ 50% to 100% Retracement (Value Zone)?
automatically, like in the
Matrix.
SUSCEPTIBLE
All you should see is Blond, ZONE
Brunette, Redhead, etc.

✓ Look for reasons to buy/sell in the Wholesale Zone… Want to see… Value Zone,
Range, Multi-TF analysis.

SFP’s, Momentum, Supply/Demand, TL confluence? Until then, focus on one

timeframe.
 1D

SFP with no
follow-through
And instead you get a
Bleed-Up is INTEL!

PUMP SUSCEPTIBLE ZONE

SFP with no follow-

through is INTEL
Normally when you reach
the value zone you would
zoom into a lower TF and
look for a reason to short.

In these Value Zones you get VALUE ZONE

a bit more protection from a
wild up move because even
if it’s going to reverse long,
there is a battle going on.

Get out of the way of this DUMP SUSCEPTIBLE ZONE

zone. If price is hanging in
this area you can expect
some continuation
 1D

LOOK CLOSELY, THIS IS NOT THE SAME RANGE AS THE PREVIOUS SLIDE.
The previous was a bear trend and this is a Bull BoS.

BREAK POINT Living in the Pump

Susceptible Zone
PUMP ZONE
PUMP ZONE

REMEMBER THIS IS CALLED A RETRACE TOOL;

ZERO SHOULD BE THE ORIGIN OF THE NEW
SWING POINT. THEREFORE YOU WILL REVERSE
YOUR FIB LEVELS. 1 = 100%

Next lowers point Next range

BULL BoS = THE LOWEST POINT REMAINS THE SAME using the 2 candle rule
 1D

Note: What you will notice by buying

wholesale (it doesn’t matter if your
only right 55% of the time) because
you will end up catching ridiculous We get a continuation break here but if this wasn’t such a strong
moves and/or trends. BREAK POINT
pattern or break it would be a good place to take some profits.
But you can still level up in such hypothetical situations as
prices consolidates at resistance and cracks at the wall.

You’ll also notice that you don’t get

chopped up as much because you’re
buying the value zones.

VALUE ZONE

ALWAYS LOOK FOR THE SWING TO

THE RIGHT OF THE BREAK POINT
 Down the road you will have to make some decisions H&S PATTERN Interesting
about how to draw out these levels as they get tighter. how the
Mr. A mentions that on the Lower TF he may extend previous
the range all the way up instead of getting too tight. supply
zone that
Very tricky area but rejects right at supply zone rejected is
with an engulfing back into the dumper zone the pump
1.618 Should start to see a susceptible
Which could possibly bring this short but it ends up zone and it
range up to the very top peak. ranging bursts right
See next slide for alternative look. through.

SFP

TOPSIDE

Short signal with not much

follow-through and a SFP

Swing Failure cluster

UNTESTED VALUE ZONE AND PREVIOUS RANGE TOPSIDE

If you would have extended the
range it would have been a
cleaner look and not as confusing.

Try to look at the various

possibilities in these cases and
make a judgement call based on
what makes the most sense given
the data you have available.

When in doubt, try to simplify.

 This is how continuations happen.
Look for holds of this level (on
multi TFs) and Hidden Divs on
LTFs, Trendline breaks, etc.

PUMP
SUSCEPTIBLE
ZONE

LTF notes on the

next two slides
Potential Hidden Reversal
Look at a lower TF

4H

SFP

SFP
Hidden
Reversal

2H

SFP cluster

SFP
 Longer the consolidation the better.
DOESN’T mean trend reversal, Consolidating in a wholesale zone is good,
is a momentum shift
look for a break on a lower TF and hold.

It’s good to be patient in these situations.

SPF + TV Signal
Start to see some shrinking in the extensions can be a sign of something happening, but still go

by the rules and look for wholesale buys. Assume continuation…

SPF + TV Signal
 Instead you break the range
for a reversal and expect
SPF downward continuation
BUT no follow-through.
You would want to see the next day’s
candle take out the high of this hammer.
 Local SFP cluster
Worst place to reject
in the Golden Pocket

Okay to take a long after a reversal if you see

some buy signals because you will usually get
some kind of mean-reversion play.
 **Master the single TF first**
HTF Combos: Try the Daily then maybe the D/4H combo

Even on the super high timeframes;

1W, 2W, M, etc… it’s good to combine
two timeframes because it's helpful to
understand that if you are assuming
continuation to the upside on the
Weekly but the Daily is assuming
continuation to the downside. Then
maybe you are in just a pullback on
the higher TF. Extended rectangle pattern (creek) within
the 2W wholesale zone. Bellow the .236
that breaks to the upside.

The higher TFs hold more importance, so if it’s holding the Value Zone and the Daily flips back to assume continuation
to the upside and the Weekly was already in the Wholesale Zone you are now a trader.
Now you understand the confluence element of how do I stack chips. It’s about taking a normal management position
at a good spot and capitalizing on that over and over again. Having the patience to wait for those particular setups.
 🔨 🔨Rejections and back down

Fight continues

2W Buy signal

SFP

When you get into the 2W or Monthly, feel free to stick

to the rules but sometime Mr. A will take this kind of
candle for a swing low because you’re just not going to
see as many pivots with the 2 left/2 right candles rule.
 All and all, we are still confined to this COIL at the moment...
Telenotes: See this messy chart for details and a scoreboard update.
EVERYTHING we have been speaking about on other TF's is still the same (targets, resistance, ema squeezes, etc)
I have to tell you all that I really couldn’t be
happier with how this all has played out

I can recall making sure I got the “Buy wholesale

sell retail or better market structure” video out
before my skiing ⛷ trip and I’m happy that I did

As we have reviewed many times in here and will

continue to study… The green box has been our
“expect continuation” BUY wholesale zone

Look at how many cracks we had at this and

everyone of them has paid off. These are the best
kind too where you hit on many tp1’s and tp2’s
without continuation and then eventually hit on
the continuation as well.

We will absolutely do a video on this and a

Livestream on this to further drive home why this
strategy is so powerful and why it Carrie’s so much
EDGE over the long haul…
For my rule-based market Structure on H4 I'm still holding onto quite a big range which keeps us in PUMP SUSCEPTIBLE territory (above the .236)...
Once we make a HH on-close this would dramatically shrink
Even on the 2-hour I would keep
a slightly larger range than most
simply because I didn't have a
qualifying bear pivot in this upper
part of the range which keeps
$44kish as my range low for
now...

The main point being that we are

still holding on to these upper
boundaries on everything but
very low tf's
So I received a good question which was basically a version of this:

“So, it’s not possible for #BTC to blow right through $52k?”

This is a great question because it's important to understand the psychological side to why you will be best
served (over time) by consistently taking profits on any big run into resistance (unless it's meant to be a long
term cycle type of hold /hodl).

Imagine yourself running near full speed and after that having to suddenly run uphill at a faster speed...
That's what breaking resistance is like.

Buyers stepped in, shorts covered to help the run, early buyers are naturally taking some profits so it's always
a big ask for an asset to then find the kind of additional late buyers needed to overcome those that had their
"take profits" placed there and skilled shorts placed there...

Now, can it happen? Sure, and when it does it doesn't bother me at all.
In fact, it's great Intel to feel good about buying the next dip because that would be an SoS (sign of strength)

Remember, this is all about risk management, an EDGE based approach, and the discipline to be consistent
with your process.
Telenotes 2:

Quick note from out last Market Structure video "Buy Wholesale, Sell at Retail or better"... and it is a very important note...

Of course you can COUNTER the "expected continuation direction" w/ the benefit being that you are aware that you are
countering and will therefore keep a tighter leash on the trade. (Tight and trailing)

With that said, if you are NET losing trader... Why do it now?

Because if you are patient enough to perfect trading with the "expect continuation" and you are doing so from the wholesale
zone you are highly likely to become a net profitable trader fairly quickly from that alone (this assume that you understand
the technique and are drawing the zones correctly)...

Another option for those net losing traders (or anyone else as well) could be that instead of countering the "expected
direction" you could seek out a timeframe that is not a counter.

Example, you want to LONG h4 while it is in "expect downside continuation mode"... Well, Perhaps H2, or h1, or m30 is in
expect continuation to the upside and therefore with that as your anchor or trigger you are not countering nearly as much
and by switching tf's you can reduce your risk of that counter.

Another note, when countering it is best to do so off of a Swing failure (when continuation was rejected) or better yet a UTAD
(stated in the previous message above which gives you an SFP with a nasty rejection at a key resistance) and look to counter
that to the midline (.5) or better and cash in partial profits as time goes on (which is extremely important) when countering.
 …this is a BIG resistance and the main reason (along with what would be a
HH) is that this is the entry into the previous Trading Range (though that
Trading Range is complicated by the MOTHER candle (the initial Daily candle
that encapsulates all of the PA that followed in the trading range)

The initial rejection of this level fortified

this previous range as a big battle zone...

This is why you want to make sure that you ALWAYS

call like it is and SEE exactly what the chart is A deeper pull back would really
showing instead of "what we would like to see" complicate this range and opens
My gut was actually leaning towards a push straight the door to just about everything
through the resistance... so needless to say, BULLS should
But, I NEVER trade my gut. want to hold price ASAP and keep
As stated on THIS chart... This was a rejection at a the pressure on for a build-up
lower high and it turned out to have some legs. pattern breakout into the previous
Follow the charts, not your hearts trading range
Just a couple thoughts to store in your mind and some goals to work towards
in terms skillsets for your toolbox...

Instead we did the classic Regular Bear Divergence

We talk about this often, but, it into Hidden Bear and Hidden bear again...
is always good to talk about the Hidden divergence is continuation divergence...
"footprints"... Being that TA is
Detective work...

In this case we had Bear Divergence which is fine because

you see in Uptrends more than anything else so as long as
they keep getting taking out with HH's or keep getting
offset by Hidden Bulls all can remain well...

It shows EFFORT being made w/o result

And here is the lower TF view (m15) Study this chart as it gives the explanation.

Now, this is some low TF stuff that can all be overcome on the higher TF's... or you might But, acquiring this skill and using True Vibration to show these signs are extremely valuable because
not even care about these signs on the LTF's if you are operating on H4 or higher... when you see this happen on the Higher TF you know something bigger is likely cooking (reversal)!

Also, I know many of you already crush it using this. But, this is not easy so if it feels complicated that's OK.
Just know that it is something extremely valuable so it should take some time to learn it.
Don't be discouraged. Keep studying it and the comprehension will come.
We were talking about this rejection a little bit right when it happened with a simple message of "Let's see if this rejection has legs" and on
these very low tf's it has had them so far and gave playable shorts in the form of lower highs that were Hidden bear divergence...

This formation is often referred to as a UTAD (Upthrust After Distribution)

Always pay attention to these as they are not just a Swing Failure
Patterns, but, also a NASTY rejection candle (sometimes you can
get 2 or 3 of them in a range to further complicate things)

However, the theory behind a UTAD is that Distribution occurred on some TF (remember, that could be a
very low tf distribution that causes short term weakness only. So, the TF is key (if your daily still looks great
while m5 looks awful it isnt the end of the world by itself) which created an environment where some
strong hands took profits and left a lot of new weak hands holding new positions at a resistance
All and all, we are still confined to this COIL at the moment...
See this messy chart for details and a scoreboard update.
EVERYTHING we have been speaking about on other TF's is still the same (targets, resistance, ema squeezes, etc)
 This is simple stuff... But, these are the things By using the last Market Structure video this same chart gave us an
EMA Flow everyone forgets. We say the word "Market EXPECT downward continuation (because Bull structure had just broke.
Structure" and it sounds simple enough. But, That told us to expect (with some slight EDGE) continuation. We saw a
+ MS W/R these are the finite details of Market Structure. perfect rejection in the value zone in the GOLDEN POCKET (.618 to .65 fib).

But, a simple
understanding of EMA’s
and our desire to search
for the proper time frame
in order to find the
"LOOK" that we want is
what turns a little EDGE
into a lot of EDGE.

Notice I never talk about reading every

move on every chart? Who cares about
that, we just want to be structured in our
own approach.
We want to be as rule based as possible.
We want to always manage our risk and we
want to find EDGE based set-ups that we
are comfortable with.
LTF Range Breaks

A LTF Break of Structure is far from the end of the world, but, it From there... Things were pretty clean (for the Bears) SEE CHART for
does usually tell you that you are facing a trading range of some details... Rejections at Supply Zone, Wholesale SHORTS on ltf's, etc...
kind and it becomes strengthened by the ugly H1 SUPPLY ZONE
BEAR rejection that followed in the form of an UGLY bearish pin bar