2024 MENTORSHIP

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ICT 2024 Mentorship Lecture #1 - Notes

Introduction:

Purpose: To outline a complete trading system, designed for ICT's son, but applicable to all aspiring
traders.
Focus: Learn to view markets live, second by second, and understand market behavior to achieve
profitability.

Key Steps:

1. Mental Preparation:
Assess where you are mentally. Are you confident, unsure, or facing challenges?
There’s no fixed timeline for success. Avoid setting a time limit, as this can delay progress. Work
consistently until your goals are reached.
2. Algorithmic Movements:
Price moves are algorithmically coded, with time being the first determinant.
At specific times (e.g., 8:30 EST), price will seek liquidity or inefficiencies, or both.

Understanding Liquidity:

Draw on Liquidity:
Study where price is drawn—towards old highs/lows and inefficiencies.
Observe how the market maneuvers around these levels.

Manual Intervention (News Events):

Avoid Trading News:

Events like CPI, FOMC, and NFP create unpredictable, dangerous market conditions—
equivalent to gambling.

Starting Out:
 1. Focus on Specific Timeframes:
Use 1-minute, 5-minute, and 15-minute charts to track highs/lows and inefficiencies.
The market tends to run toward these levels.
2. Study Price at Specific Times (EST):
Time-based price movements are consistent and predictable.
3. Relative Equal Highs and Lows:
The market seeks "smooth" areas (relative equal highs/lows) to trigger stop-loss orders.
These areas often indicate liquidity pools.

Identifying High-Probability Areas:

Look for failure swings near highs/lows, where swing highs are lower to the right.
When shorts feel "safe," price is often driven towards those areas.

Example Scenario:

Note Key Elements:

Track highs, lows, inefficiencies, and the smoothness or roughness in price.
Identify "damage" (stop-loss runs) and subsequent price movements.
Use PD Arrays (order blocks, breaker blocks) formed after stop runs to find high-probability trade
setups.

Identifying Key Zones (8:00 - 8:30):

Focus on smooth locations on the 1-minute, 5-minute, and 15-minute timeframes.

These smooth areas represent potential liquidity zones but don’t expect price to reach them
immediately.

Key Observations:

Smooth Relative Equal Highs: When these are taken out, price often uses inefficiencies as
"stepping stones" toward liquidity.
Context Matters: Pay attention to the overall narrative—smooth highs and rough lows show where
price is likely to target liquidity.

Key Lessons:

1. Wicks as Gaps: The 50% level of a wick (called "consequent encroachment") acts like a fair value
gap and should be respected.
2. Fair Value Gaps (FVGs): When marking an FVG, include volume imbalance if it’s at the FVG high
or low.
3. Timing: Price moves depend heavily on time of day—if the time isn't right, the setup won’t work.

Time and Liquidity:

 Smooth vs Rough: Look for relative equal highs/lows. When one side becomes "rough," it
indicates a draw on liquidity.

Key 30-Minute Intervals:

1. 7:00 - 7:30am
2. 8:00 - 8:30am
3. 9:00 - 9:30am (pre-market range)

ICT 2024 Mentorship Lecture #2 - Notes

Introduction:

This lecture consolidates information from Lecture 1 and addresses challenges traders may face,
especially in managing precision during entries.

Price Delivery Continuum:

Precision in Entries:
On the 1-minute chart, you may sometimes miss entries or lack precision.
Use the 15-second chart for finer entry points under the 1-minute chart.
Missing moves while aiming for precision is a good sign—you’re minimizing risk.

Understanding the Framework:

Avoid focusing on relative equal highs/lows before 7:00am EST (this pertains to the London
Session, which is not in the current scope).

Framework Steps:

1. Mark 7:00am EST with a vertical line on your chart.

2. Watch for relative equal highs/lows after 7:00am on the 1-minute, 5-minute, and 15-minute
charts.
3. Identify areas that were initially “smooth” and became “jagged.”
4. Mark inefficiencies on the same timeframes.
5. After a liquidity run in one direction and relative equal highs/lows in the opposite direction, mark
the "turning point"—this is where you’ll scan for entries.
6. This involves manipulation (stop runs) followed by displacement back into the range.

Key 30-Minute Range Times:

1. 7:00 - 7:30am
2. 8:00 - 8:30am
3. 9:00 - 9:30am
 During these intervals, expect manipulation in one direction (stop hunts) followed by a move in the
opposite direction towards relative equal highs or lows.

Example of Price Action:

Market Movement:
A run on stops occurs, followed by price moving in the opposite direction.
Look for the inversion fair value gap (premium array).
Price retraces into the premium array, forming a bearish fair value gap and relative equal lows.
Observe the aggressive displacement through the relative equal lows.

Key Concepts:

1. Breaker and Inversion FVG:

When a breaker forms, look for an inversion or a fair value gap overlapping within the breaker
for an entry.
2. First Fair Value Gap:
Always note the First Fair Value Gap before the stop hunt. This inversion FVG indicates a
change in the state of delivery.
Place your stop-loss 2 points above the breaker high.
3. Shift in Delivery:
When delivery shifts, note the inefficiencies that form in the direction of the shift.

Summary:

Use the 15-second chart for precision when needed.

Focus on key times (7:00am, 8:00am, 9:00am EST) for manipulation and liquidity runs.
Look for stop hunts followed by displacement in the opposite direction.
Key entry points are found at the overlap of breakers and FVGs, with a focus on the first FVG before
the stop hunt.

ICT 2024 Mentorship Lecture #3 - Notes

Introduction to New Day Opening Gap (NDOG) and New Week Opening Gap
(NWOG)

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New Day Opening Gap (NDOG):

Definition: The price or price range between the previous day's settlement closing price (16:59) and
the next day's opening price (18:00).
Usage: Mark this price or range from low to high and treat it as a gap.
Significance: Acts as a strong draw on liquidity.
 Lifespan: For the purpose of this mentorship, the NDOG remains relevant for 5 days.

New Week Opening Gap (NWOG):

Definition: The price or price range between the previous week's settlement closing price (16:59
Friday) and the next week's opening price (18:00 Sunday).
Usage: Mark the price or range for analysis as a weekly gap.
Lifespan: The NWOG remains relevant for 5 weeks.

Example - Marking NDOG/NWOG:

Mark the NDOG and NWOG on your chart, from low to high, and observe their behavior as strong
liquidity zones.

Consequent Encroachment (CE):

Definition: The 50% level of any gap, including:

Fair Value Gaps (FVGs)
Volume Imbalances
NDOG/NWOG
Opening range gaps
Wicks
Use: Combine the 50% level (CE) with NDOG/NWOG for more precise trade entries and exits.

The Power of Narrative - Understanding Why Price Moves:

Factors Influencing Price:

1. Economic Calendar: Events or news releases often act as key drivers of price movement.
2. Draw on Liquidity: Price moves towards liquidity pools, often driven by news or market
manipulation.
Example:
If the AM session was choppy with no major news, but the PM session had a bond auction, the
market movement could be due to the lack of liquidity during the earlier part of the day.
Trading Without News:
If there are no high or medium-impact news events in the New York AM session, consider
trading the afternoon session (starting at 1:30 PM).
Pair NDOG/NWOG with Relative Equal Lows/Highs:
Identify manipulation moves and predict price targets based on NDOG/NWOG and relative
highs/lows.

Sample Potential Entry:

Market Bias: Suppose the market shows a strong probability of going lower due to relative equal
lows and NDOG.
Liquidity in the Market:
 Buystops and sellstops are the lifeblood of the market, driving liquidity. Inefficiencies between
these levels guide price movements.
Bearish Confluence:
The fact that price does not touch the CE of a Fair Value Gap (FVG) further strengthens the
bearish signal. This suggests strong downward pressure and a likely continuation to lower price
targets.

ICT 2024 Mentorship Lecture #4 - Notes

The Economic Calendar:

Trading at 8:30 News Events:

Wait for the data release at 8:30 before trading.
News events can significantly affect the market, injecting volatility and moving prices more
aggressively.
No News Scenario:
When there’s no 8:30 news, you can still use the time-based techniques from previous lectures.
Price movement will generally be less aggressive without news, but the time element (e.g., key
trading times) is still relevant.
Price Behavior Around 8:30:
Choppiness often precedes the 8:30 news release, followed by a volatility injection once the
data is out.

Determining DOL (Draw on Liquidity):

To determine where the price is likely to go, consider these factors:

1. Cluster of NDOG/NWOG:
Look at where multiple New Day Opening Gaps (NDOG) and New Week Opening Gaps
(NWOG) form clusters.
These clusters indicate significant liquidity zones where price is likely to be drawn.
2. Smooth vs. Rough Areas:
Smooth Areas: Price tends to move towards smooth areas in the market structure, such as
relative equal highs/lows or clean price zones.
Rough Areas: Price avoids rough areas where inefficiencies or jagged movements have formed.
3. Inefficiencies:
Price is often drawn towards areas of inefficiency (gaps) to correct or fill them. These areas act
as targets in the draw on liquidity.

Premium Imbalance and Reactions:

Imbalance Premium:
 When price reaches an area of imbalance (especially if it’s in the premium), observe how
aggressively price reacts to it.
Aggressive Reactions:
Pay attention to how far price can go after reacting off an imbalance premium. This reaction often
gives insight into the next liquidity target.

ICT 2024 Mentorship Lecture #5 - Notes

Studying the Asian Session

Waiting for Time to Be Introduced:

Similar to other sessions, you must wait for specific times for liquidity to become visible.
Building the Draw on Liquidity (DOL) for the Asian Session:
Focus on the 7:00 PM to 9:00 PM time frame.
During this period, you can use NDOG (New Day Opening Gaps) and structure your analysis
around liquidity—the core factor driving market movement.
Key Takeaway:
The algorithm consistently engineers liquidity. This concept applies universally to all market
sessions and timeframes, including the Asian session.

Projection Targets and Measured Moves

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Standard Deviation (STDEV) as Measured Moves:
Use standard deviation to project future price moves by measuring previous price action.
Example:
If price made a move lower from point 0 to point 1, you can anticipate a move higher by
multiplying that distance by 2. This gives you an expected move in the opposite direction.
Low-Hanging Fruit (STDEV -1):
The -1 STDEV represents the measured move of the low-hanging fruit, meaning it’s a
predictable and often easier-to-capture price movement.

ICT 2024 Mentorship Lecture #6 - Notes

Price Action Review - Pre Market

This lecture focuses on how to navigate market conditions when there's no high-impact news, along
with an overview of key strategies involving NDOG/NWOG as a draw on liquidity and revisiting the
 first fair value gap after 9:30 AM ET.

The Economic Calendar

Trading During Mixed News Weeks:

On weeks with some days featuring heavy news and others without any impactful news, traders
often defer their interest to the high-news days.
Challenges on No-News Days:
On days without news, there’s more potential for analysis errors and missteps, as the market
lacks clear catalysts.
Tips for trading in no-news conditions:
1. Focus on smaller profits: Avoid aiming for large wins and prioritize taking smaller profits
consistently.
2. Acknowledge the possibility of being wrong: It’s important to manage risk and avoid being
emotionally attached to trades.
3. Minimize risk: Be cautious, as the lack of volatility can lead to mistakes.
4. Take profits early: Volatility can cause a trade to reverse quickly, so don’t hold out for larger
moves.
5. Partials: Taking partial profits is a strategy that pays off, especially in unpredictable market
conditions. This reduces the stress of holding onto a position too long.

Strength of NDOG/NWOG as a Draw on Liquidity

NDOG (New Day Opening Gap) and NWOG (New Week Opening Gap):
These are strong areas of liquidity where price is often drawn.
These gaps act as magnets for price action, making them important tools for anticipating market
moves.
Even in no-news scenarios, NDOG and NWOG remain reliable indicators for determining price
direction.

Revisiting the First Fair Value Gap After 9:30 AM ET

Fair Value Gaps (FVGs)are critical in price delivery, especially when markets open at 9:30 AM ET.
The first FVG formed after the opening bell can provide strong trade setups, often serving as a
key level of support or resistance.
Revisiting these FVGs allows traders to capitalize on the initial volatility and displacement in the
market.

Summary:

On no-news days, focus on risk management, taking profits early, and using the strength of
NDOG/NWOG to guide your trades.
Always be mindful of revisiting the first FVG after 9:30 AM ET, as it often presents high-probability
trade setups.
 ICT 2024 Mentorship Lecture #7 - Notes

Economic Calendar

High Impact News Drivers:

Key reports like NFP (Non-Farm Payroll), PPI (Producer Price Index), CPI (Consumer Price
Index), and PMI (Purchasing Managers Index) have significant impacts on the market.
Optimal Trading Window: The best setups often form between 10:00 AM and 11:00 AM ET
after these news releases.
Recommendation:
ICT highly advises waiting until after these news events to trade, as these days tend to be
challenging for most traders.
Understand your own strengths and weaknesses to avoid making irrational decisions that can
lead to account losses, tilting, or worse.
Example:
The PPI report illustrates that price action can be difficult to read, emphasizing the need to be
cautious during high-impact news days.

Market Structure - Determining High Probability Conditions

1. Bearish Scenario:
Imagine you are bearish. Outline a likely scenario where shorts are favored.
2. Bullish Scenario:
Now, envision a bullish scenario where longs are favored.
If you can easily create both scenarios, it indicates low probability.
The best trades are those that heavily favor one side of the market, enhancing the likelihood of a
successful outcome.

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The Institutional Order Flow Entry Drill

1. Clear Delivery:
Identify whether the market shows clear buyside (buy) or sellside (sell) delivery.
2. Draw on Liquidity:
Confirm that there is a clear draw on liquidity in your analysis, providing context for your trade.
3. Entry Points:
Enter trades at the low of a BISI (Buy Side Imbalance) or the high of a SIBI (Sell Side
Imbalance), ensuring that time is on your side.
Alignment of Time Frames:
When the higher time frame charts align with lower time frame charts, it signals high probability
trades. Price consistently seeks to reach levels defined by higher time frames.

Summary:
 On high-impact news days, wait for the best setups post-release, particularly between 10:00 AM
and 11:00 AM ET.
Understand market structure by assessing both bullish and bearish scenarios, focusing on high
probability setups.
Use the Institutional Order Flow Entry Drill to ensure clarity in your trades, and align your time
frames to maximize success.

ICT 2024 Mentorship Lecture #8 - Notes

Using Wicks as a Gap

1. Long Wicks:
Long wicks can serve as a fair value gap, especially following significant news events.
2. 50% Level:
Pay attention to how price reacts around the 50% level of the wick, similar to how it would react
to a fair value gap.
Key Considerations:
Will price respect the 50% level?
Will it inverse aggressively?
Example:
A large wick can act as a draw on liquidity, particularly one formed by news.
Observe how this wick overlaps with NDOG and fair value gaps; this overlap can help frame
your trade ideas and context.
Inversion Fair Value Gap:
In the next example, see how price uses the wick as an “inversion fair value gap,” providing
further context for potential trades.

The Market Maker Buy/Sell Model

Buyside of the Curve:

When price is moving up towards a point of interest (POI), it represents the buyside of the curve.
Sellside of the Curve:
Conversely, when price moves down towards a level, it indicates the sellside of the curve.
Smart Money Reversal:
The swing point of reversal indicates where smart money is likely to reverse the market direction.
Support and Resistance:
Areas where price previously acted as support can be used as resistance for liquidity runs lower,
and vice versa.
Best Entries:
The most favorable entries occur when the Price Delivery Array (PDA) from the buyside
overlaps with new PD arrays forming from the sellside.

The Smart Money Reversal - Studying the Turtle Soup

 Turtle Soup Concept:
This involves selling above an old high and buying below an old low. Context is crucial to
effectively implement this strategy.
Context:
Analyze the buyside and sellside of the curve to identify potential turtle soup reversals.
Diagram:
Review the accompanying diagram for a visual representation of this concept.

Comparing and Contrasting Various Gaps

Market Maker Model:

Revisit the Market Maker Buy/Sell Model, focusing on the PD arrays on each side.
Final Look at Turtle Soup:
Fair Value Gap as Turtle Soup:
Consider how to place stop-loss (SL) orders effectively while utilizing the balance price range
and turtle soup concepts.
The same principles apply if you identify an order block; context remains critical.

Summary:

Wicks can be interpreted as gaps and should be analyzed at their 50% levels to gauge market
reactions.
Utilize the Market Maker Buy/Sell Model for determining potential entry points and analyzing price
movement.
The Turtle Soup strategy offers insights into smart money reversals, and understanding context is
vital for successful application.

ICT 2024 Mentorship Lecture #9 - Notes

Price Action Review

Signatures for Support:

Look for specific signatures in price action to support your trading idea.
Currently, the market is considered overpriced, and traders are anticipating lower prices,
necessitating the search for these signatures.
Market Behavior:
After executing buy stops, the market did not aggressively return lower into the range.
The key signature to identify is the inversion of the fair value gap that was used to take out the
buy stops, which would indicate a change in state of delivery.
Respecting the ORG (Opening Range High):
Instead of reversing, price has been holding above the opening range high (ORG), suggesting
strength.
 In the absence of signatures that support a trading decision, it’s prudent to wait and observe
further price action.
Observations:
Study how price is being held above recent highs and look for further confirmations before
entering a trade.

ICT 2024 Mentorship Lecture #10 - Notes

Revising the Opening Range Gap (ORG)

1. Quadrants:
ICT recommends placing quadrants into the Opening Range Gap (ORG) to help with analysis.
2. Last 3 Days:
Use the ORGs from the last three days as they provide significant confluences and frameworks
for trade decisions.
3. Influence on Price Delivery:
The opening range from the previous three days can also be influential in guiding price action.

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1. Documentation:
Maintain a notepad or a separate chart to mark these levels, allowing you to track current market
structure without cluttering your main chart.

Ideal Minimum Threshold for a Trade

Establish a minimum target for your trades, though it doesn’t necessarily need to reach that target.
Example Targets:
Aim for 15-20 handlesoff an NDOG.
1. 5 handles on ES (E-mini S&P 500)
2. 15 handles on NQ (E-mini NASDAQ) (If you can see 20 points, a target of 15 is likely
achievable.)

Framing a Trade

Key Elements to Consider:

Rejection of NDOG
Inversion Fair Value Gap (IFVG)
Sell Side Imbalance (SIBI)
Order Block (OB)
Wick

Studying Price Action Further - The Reclaimed Fair Value Gap

 Continue to study how the reclaimed fair value gap can provide additional insights and
opportunities for trading based on price action.

Summary:

Focus on identifying signatures in price action to frame your trades, especially when expecting lower
prices in an overpriced market.
Utilize the Opening Range Gap and the last three days' ORGs for better context in your trading
strategies.
Set realistic targets and thresholds for your trades, ensuring you frame them with a clear
understanding of market conditions and key elements.

ICT 2024 Mentorship Lecture #11 - Notes

Framing a Trade Idea Using What We Learned

Sellside Liquidity:
Engage with sellside liquidity, which can potentially drop as low as the previous New Day
Opening Gap (NDOG).
Determine if bullish Price Delivery Arrays (PD Arrays) form around this level or if they fail.

Now That Price Has Reached the ORG (H), What Do You Need to See?

1. Price Action:
Observe if price disrespected higher premium arrays to engage the buyside.
Ensure price does not close below the ORG (L) or the New Week Opening Gap (NWOG).
2. Market Events:
Pay attention to market events such as the Jackson Hole Symposium that can influence price
behavior.

What To Look For

Price Movements:
Every time price moved down or up, it failed to gain footing on the PD Arrays.
Notice the inability to close above the NWOG (H), which kept price working within the ORG.
Liquidity Engagement:
Eventually, price did take out the buyside liquidity, but there was considerable room for error in
this movement.
Final Price Runs:
Study the final price runs towards the buyside to understand market dynamics and liquidity
engagement.

Studying the Wick as a Confluence

 Use wicks as additional confluences in your analysis to gauge potential price reactions and
reversals.

Studying the Balanced Price Range (BPR)

Inversion Fair Value Gap:

The blue box represents an inversion fair value gap with a bullish FVG formed inside it.
BPR Importance:
Closely monitor the balanced price range below the bullish fair value gap, which consists of four
candles. This is significant as it indicates price traveling up, down, and up through the range
again.
You do not want to see prices drop below the low of this balanced price range.
Order Block:
The down-close candles within the balanced price range can be utilized as a bullish order block.
Stop Loss Placement:
This analysis provides a way to identify precise stop losses using the 1-minute and 15-minute
charts.

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Summary:

Frame your trade ideas based on sellside liquidity and the formation of bullish PD Arrays around
significant levels such as the NDOG.
Monitor key price actions around the ORG and NWOG to make informed decisions.
Use balanced price ranges and order blocks to determine entry and exit points, ensuring effective
stop loss placements for managing risk.

ICT 2024 Mentorship Lecture #12 - Notes

Studying the OLHC / OHLC (How to Hold Trades Longer If You Wish)

Bullish DOL:
Analyze the daily chart for signs of a One-Leg Higher Close (OLHC).
Intraday Chart:
Review the intraday chart for OLHC patterns and the Intraday Opening Fair Value Gap
(IOFED) from the previous day.

ICT 2024 Mentorship Lecture #13 - Notes

Running Down Equity and Partial Taking

Partial Taking Strategy:

When in a long position, take partials at each short-term high that is broken, if possible.
 Do not adjust your stop loss initially; this approach will help you manage risk better as you
become more advanced in your trading strategy.
Concept of Running Down Equity:
This involves taking partial profits at significant price levels (like the 50% of the volume
imbalance) while still anticipating price movement toward a higher target.
It’s essential to understand that reaching the target is not guaranteed in each transaction.

ICT 2024 Mentorship Lecture #14 - Notes

Introduction Question: Which Student / Trader Are You?

Trader Types:
A: Focuses on inefficiencies and aims to trade based on them.
B: Concentrates on identifying key highs and lows for potential draw or take-profit levels.

Psychology Tip:

Mistakes are a part of trading. Taking partials helps mitigate the impact of these mistakes.

Daily Chart Analysis:

Consider the entire daily volume imbalance, including rejection blocks and swing highs (premium
arrays).

Intraday Chart Focus:

Opening Range Gap:

Typically, the Opening Range Gap (ORG) Closing Extension (CE) is hit approximately 70% of
the time before 10:00 AM.
First Fair Value Gap:
The first fair value gap between 9:30 and 10:00 is significant and can be influential throughout
the trading day, especially on ranging days.

Jackson Hole Symposium (News Event):

This annual news event lasts for three days.

Expect overlapping price movements and difficult trading conditions with significant retracements
before reaching liquidity draws.
Trading Strategy:
Maintain tight stop losses and take partials wherever possible during this period.

The Rejection Block - Formation of a Reversal:

Definition:
A reversal pattern forms at a swing high, defined by the wick and the highest body (open or
close) at that swing high.
 This level becomes the rejection block, indicating potential reversals if aligned with your bias.
Key Note:
If a rejection block and a Change in State Delivery (CISD) occur, price should not retrace back
into the rejection block; otherwise, this nullifies the order block and invalidates the trade.

Price Action Review:

1. Daily Rejection Block

2. First Fair Value Gap
3. Opening Range Gap

Summary:

Focus on identifying OLHC patterns to potentially hold trades longer.

Use partial taking strategies to manage risk effectively as you navigate market fluctuations.
Understand the dynamics of significant trading events like the Jackson Hole Symposium to adapt
your trading approach accordingly.
Pay close attention to rejection blocks as critical reversal signals in your trading analysis.

ICT 2024 Mentorship Lecture #15 - Notes

Re-Visiting the Opening Range Gap (RTH Gap)

Key Markings:
Identify the high, low, and the four quarters of the Opening Range Gap (ORG).
Use these levels to assess market willingness to move.
Opening Range High/Low (9:30 - 10:00):
These are critical highs and lows that algorithms will reference during trading.

Daily Price Action Review (NY Session)

Market Sentiment:
Avoiding long positions due to being in a deep premium, especially after profitable longs in the
Asia and London sessions.
Utilizing Higher Time Frame (HTF) PD Arrays:
Leverage the daily SIBI and daily volume imbalance as HTF PD Arrays.
Liquidity Draws:
The draw on liquidity focused on the ORG 50% and NDOG (traded to the low).
Noted relative equal lows serving as trailing stop losses (SL) and initial sell-side liquidity.
Final sell-side liquidity located at relative equal lows at the terminus.

ICT 2024 Mentorship Lecture #16 - Notes

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Digging Deeper into Friday’s Move

Premium Arrays:
Daily volume imbalance, mean threshold of the OB, daily volume imbalance high, daily rejection
block, and the premium wick were analyzed.
Key Event:
Federal Reserve Chair Powell's speech at 10:00 AM influenced market behavior.

Moving Into Friday Now...

Event Horizon PD Array:

1. Identify NDOG/NWOG above and below your anticipated price draw.
2. Mark the range from the high of the NDOG below to the low of the NDOG above.
3. This range forms your Event Horizon.
4. Divide the range into quarters and observe price interactions.
5. Note: Avoid looking back more than 60 days (3 months of trading).
Price Movement Study:
Analyze how far price can move by studying the bodies overlapping the NWOG and ORG Low.

ICT 2024 Mentorship Lecture #17 - Notes

Key Levels to Watch

NWOG
Discount Opening Range Gap

Market Patience:

Emphasizes the importance of patience during unclear market conditions.

Focus for upcoming sessions includes:
Establishing and sticking to a bias.
Identifying and overcoming hurdles.
Recognizing weaknesses in your trading model.

Characteristics of an Easier NY Session

In a scenario with a large opening range gap:

Wait for more market information; do not rush into trades.
Follow ICT's recommendation to wait until 10:00 AM before looking for trading opportunities.
If the market is moving without you, remain calm and don’t force a trade.
The ICT Ideal FVG Delivery

Key Features:
Immediate rebalance.
Leaving a gap that is not completely filled.
Avoid trading into the upper/lower 50% of a gap.

Beginning to Frame a Reversal

Price Action Analysis:

Observe the M15 imbalance; if price bodies start moving above it, anticipate support for a
potential reversal.
If price bodies displace through the M15 FVG, treat it as an Inversion Fair Value Gap (IFVG) and
expect resistance.
Pay attention to failed displacements indicating continuation; it's okay not to chase price without
a clear entry signal.
Key Insight:
Price bodies provide signals on market changes, helping traders make informed decisions.

Psychology and Progression in Trading

Avoiding Account Blowouts:

If you win your first trade, consider staying out and taking a break.
Start with a micro position to manage risk, avoiding the urge to chase quick profits.
Stay focused on your trading strategy and avoid distractions from others' performances, which
can often be misleading.

Final Recommendations:

Focus on your own learning and emotional control in your trading journey.
Watch the final segment of the lecture (1h30) for motivational insights and psychological
strategies to enhance your trading efficiency.

ICT 2024 Mentorship Lecture #18 - Notes

Morning Session Review

Gap Analysis:
Remember that 70% of the time, if the gap exceeds 30 handles, it will likely reach the 50% mark
between 9:30 and 10:00 AM.
First Fair Value Gap (FVG):
Observe the formation of the first FVG, which occurs after sell-side liquidity is taken out.
 Notably, price often spends time below the sell-side, signaling a potential reversal as smart
money accumulates long positions.

Understanding “Mohawk”

This concept refers to trades that can "color outside the lines" yet remain valid.
It's essential to grasp the Draw on Liquidity (DOL) and the current market structure surrounding your
trade for successful execution.
Visual Aid: Refer to the accompanying diagram for a clearer understanding.

ICT 2024 Mentorship Lecture #19 - Notes

PDH and PDL

Utilizing PDH/PDL:
PDH (Previous Day High) and PDL (Previous Day Low) can serve as critical reference points for
framing trades, even if these levels have already been reached.
These levels act as key PD Arrays and algorithmic reference points, remaining relevant for
drawing on liquidity and identifying potential turtle soup setups.

Studying The Morning Session Price Action (PA)

ICT 2024 Mentorship Lecture #20 - Notes

Trade Breakdown

Targeting the Old Daily Low:

Focus on the importance of identifying the Old Daily Low as a target, especially if it has already
been run through.
Partial Taking:
Examine where partials can be taken, noting the IOFED (Intraday Order Flow Execution
Dynamics).
Highlight that the daily EQH (Equal High) level does not need to be reached; hence, taking
partials is crucial to lock in profits.
Entry and Stop Loss (SL):
Analyze the entry and stop loss placement, as well as potential profit points that could have been
realized (refer to the second diagram).

ICT 2024 Mentorship Lecture #21 - Notes

Price Action Review

Market Conditions:
The market opened in a deep premium, emphasizing the importance of not chasing price action.
Discount Opening Range Gap:
 Observe a deep discount ORG and the implications of trading before a holiday weekend, as
conditions may become more challenging.
Trading Strategy:
On Fridays, prices often oscillate within Thursday's range or may produce slightly higher highs or
lower lows throughout the week. Therefore, avoid heavy trading on these days.
Reference Points:
Continually utilize the old PDH/PDL as algorithmic reference points, reinforcing their relevance in
your trading strategy.

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