What is the Asian range?

The Asian range refers to the price action occurring between 7:00 PM and midnight New York time, which can indicate future intraday price movements.

How do you utilize the Asian range in trading?

Traders can frame bullish or bearish conditions based on the highest high and lowest low of the Asian range, predicting likely market intentions.

What time frame does the Asian range cover?

The Asian range covers the period from 7:00 PM to midnight New York time.

How do you identify bullish conditions using the Asian range?

In bullish conditions, the price typically returns to the Asian range high, indicating potential institutional buying.

What is the significance of the Asian range low in bearish conditions?

Breaking the Asian range low indicates potential selling opportunities as market sentiment shifts.

Who initially taught the concept of the Asian range?

The concept of the Asian range was initially learned from trader Chris Laurie.

What is the benefit of using the Asian range?

It helps in predicting price movements and setting up trading strategies based on market behavior.

ICT Forex - Implementing The Asian Range

00:39:08

https://www.youtube.com/watch?v=JA0mLNJeytY

Zusammenfassung

TLDRThe video provides an instructional guide on implementing the Asian range concept in trading. It defines the Asian range as the price action occurring between 7:00 PM and midnight New York time, highlighting its importance in predicting future intraday price movements. Bullying and bearish conditions are explored based on the range's highest high and lowest low. Through personal experiences and teachings learned from other traders, the presenter outlines how to frame market sentiment, utilize order placements, and anticipate institutional behavior in trading strategies. Key takeaways include the importance of maintaining a trading bias and understanding market trends for successful trading outcomes.

Mitbringsel

📈 Understanding the Asian range is crucial for predicting intraday price movements.
🔍 The range is defined between 7:00 PM and midnight New York time.
📊 Bullish conditions often see price return to the Asian range high.
📉 Bearish conditions involve breaking the Asian range low for selling.
🔗 Incorporate the Asian range into your trading strategy for better outcomes.
📅 Daily bias helps set the context for trading decisions.
🔑 Use tight consolidation in the Asian range to anticipate breaks.
🚦 Set stop-loss orders wisely based on the Asian range levels.
💼 Learning from experienced traders enhances trading skills.
📝 Spend time on charts to improve price action interpretation.

Zeitleiste

00:00:00 - 00:05:00
The teaching introduces the concept of the Asian range without attributing it to ICT. It emphasizes understanding the price action before the Frankfurt and London openings, framing market intentions based on the Asian range, and using it for bullish and bearish strategies. The speaker references their referral source, Chris Laurie, acknowledging the influences from his teachings on price action and consolidation techniques.
00:05:00 - 00:10:00
The Asian range is defined as the price action from 7:00 PM to midnight New York time. The highest and lowest prices during this period help frame trading decisions. The speaker emphasizes recognizing these ranges daily and applying them as guidelines for anticipating market movements after midnight, setting the groundwork for either bullish or bearish trading futures.
00:10:00 - 00:15:00
Detailed explanations of how to utilize the Asian range start, emphasizing the importance of market participants' behaviors within this range. The speaker describes how breaking through the Asian range can indicate potential buy or sell signals due to order stacking and market sentiment, highlighting the significance of liquidity and the tendency of price to reach beyond this established range.
00:15:00 - 00:20:00
For bullish conditions, the speaker explains that traders should look for price movements that push below the Asian range following a bullish bias. Buying on strength as price approaches the Asian range high or testing bullish entries after breaking critical resistance points is key. This will be elaborated with previous trading techniques that indicate bullish potential.
00:20:00 - 00:25:00
The discussion continues on contrasting bullish conditions with bearish ones. In bearish scenarios, the focus shifts to waiting for price to breach the Asian range high and anticipating institutional selling pressure once it retraces back. The speaker meticulous elucidates his past methods and how understanding this range better positioned him for high probability setups and risk management.
00:25:00 - 00:30:00
The importance of confirming the market's direction before executing trades is reiterated. Selling strategies for bearish trades outlined indicate waiting for an appropriate establishment of highs and lows relative to the Asian range to position trades effectively. The speaker stresses maintaining integrity to one's bias throughout trading sessions to avoid unpredictable losses.
00:30:00 - 00:39:08
In conclusion, the speaker reinforces the Asian range as a powerful tool for traders, outlining essential behavioral patterns during specific market sessions. They advocate for continuous observation and practice in trading, promoting the development of trading intuition and skill over reliance on tools or indicators.

Mind Map

Video-Fragen und Antworten

What is the Asian range?
The Asian range refers to the price action occurring between 7:00 PM and midnight New York time, which can indicate future intraday price movements.
How do you utilize the Asian range in trading?
Traders can frame bullish or bearish conditions based on the highest high and lowest low of the Asian range, predicting likely market intentions.
What time frame does the Asian range cover?
The Asian range covers the period from 7:00 PM to midnight New York time.
How do you identify bullish conditions using the Asian range?
In bullish conditions, the price typically returns to the Asian range high, indicating potential institutional buying.
What is the significance of the Asian range low in bearish conditions?
Breaking the Asian range low indicates potential selling opportunities as market sentiment shifts.
Who initially taught the concept of the Asian range?
The concept of the Asian range was initially learned from trader Chris Laurie.
What is the benefit of using the Asian range?
It helps in predicting price movements and setting up trading strategies based on market behavior.

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Untertitel

Automatisches Blättern:

00:00:10
okay folks welcome back this teaching is
00:00:12
going to be specifically dealing with
00:00:14
implementing the Asian range alright
00:00:22
the Asian range notice it does not say
00:00:25
ICT Asian range I did not create this or
00:00:28
author this concept my first
00:00:32
introduction to it was from another
00:00:33
trader which I'll mention later on in
00:00:36
the presentation but what ICT concepts
00:00:38
are going to be used in this module
00:00:40
we're gonna be introducing the Asian
00:00:42
range I'm going to be defining what the
00:00:46
Asian range is in charts and I want to
00:00:50
teach you how to utilize it in bullish
00:00:52
conditions and how to utilize it in
00:00:55
bearish conditions all right introducing
00:00:59
the Asian range now what is the Asian
00:01:03
range well the price action prior to the
00:01:05
Frankfurt open or London opening can be
00:01:09
very indicative of the future intraday
00:01:10
price movement now when we have a
00:01:12
directional bias you can use this Asian
00:01:15
range to build or frame a context or
00:01:17
story line to the markets likely
00:01:19
intentions there is a stillness in price
00:01:22
many times right before the intraday
00:01:25
directional impulse price swing you look
00:01:29
at the chart here on the right this is
00:01:30
an Aussie dollar chart you can see that
00:01:33
there is a little shaded area right in
00:01:36
here and it's delineate 'add with the
00:01:41
gray shaded box and I've labeled it not
00:01:44
surprisingly the Asian range so this
00:01:48
little piece of price action okay I
00:01:51
actually learned about this from Chris
00:01:54
Laurie and I'll show you what I was
00:01:58
doing before I learned this so that way
00:02:00
you can see I already had a beat on what
00:02:02
price should be doing but when I first
00:02:05
saw him refer to it in his free
00:02:07
teachings he has a website Chris Laurie
00:02:11
comm it's changed and morphed a little
00:02:14
bit over time but folks that have gone
00:02:16
through his material didn't know who I'm
00:02:18
referring to they would not an agreement
00:02:21
that they would know what I'm saying is
00:02:23
true
00:02:24
he taught about the Asian range many
00:02:26
times in free teachings so it's not like
00:02:29
I'm taking anything away from him
00:02:30
in fact if you're not happy with what
00:02:33
you see in my content but you do want to
00:02:36
take some advice from someone that has
00:02:38
seen a lot of things out there
00:02:39
Chris Laurie has a lot of good price
00:02:42
action study and his methods while they
00:02:46
are not mine there's some similarities
00:02:49
to what Chris does but I'm going to show
00:02:52
you what I took away from him this is
00:02:53
the only thing I really learned from
00:02:54
Chris Laurie really but yeah that's not
00:02:57
to diminish his importance as a teacher
00:02:59
or what he knows I'm just saying that
00:03:00
this is what I gleaned from his material
00:03:03
I liked it because I was already
00:03:04
familiar with using consolidations in
00:03:07
certain periods of a training 24-hour
00:03:11
period if you take certain ranges you
00:03:13
can do some magical things with them and
00:03:15
I teach you that in the mentorship and
00:03:17
it goes well beyond what I've done in
00:03:19
YouTube videos over the past couple of
00:03:21
years
00:03:21
so what I liked about it was I've seen a
00:03:26
lot of context right away when I seen
00:03:29
how that the range is applied to the
00:03:31
chart so I will give you what I used to
00:03:34
do and how I used entry techniques to do
00:03:37
it so that way you have a little bit of
00:03:38
a takeaway you not only just talked
00:03:40
about the range itself but what we can
00:03:42
do with it and then I'll show you what
00:03:44
I've done with it to incorporate it now
00:03:47
I'm not teaching you everything I know
00:03:49
about this range and what I've done with
00:03:52
it over the last mmm ten years or so the
00:03:56
the implementation of it I think is
00:04:01
useful for a developing trader but there
00:04:05
has to be some context behind it the
00:04:07
range itself doesn't produce anything
00:04:09
magical but if you have a storyline
00:04:11
behind what price should be doing that
00:04:13
particular day it is unbelievably
00:04:16
helpful okay so let's define the Asian
00:04:22
range of work what is it that we can do
00:04:24
in our charts to make it up here and
00:04:25
draw attention to it well the range
00:04:29
begins at 7:00 p.m. New York time and it
00:04:32
ends at midnight New York time now
00:04:37
a special inclusion here Chris Laurie
00:04:40
had his Asian Range pushed beyond
00:04:43
midnight if my if memory serves me
00:04:45
correct I believe he had 12:30 a.m. and
00:04:49
to me the financial markets really begin
00:04:53
at midnight New York time and it
00:04:55
probably sounds pretty arrogant of a
00:04:57
gang like me being in the States but if
00:05:01
you just study what I'm teaching you
00:05:03
folks you'll see right away what I'm
00:05:04
telling you is the gospel as it relates
00:05:06
to intraday price actions only now
00:05:08
everything else might be something
00:05:10
different but as far as intraday price
00:05:11
action I think I've cornered the market
00:05:12
in intraday price action so the height
00:05:15
of the range is the highest high between
00:05:18
7:00 p.m. to midnight in New York time
00:05:20
to the lowest low between 7:00 p.m. and
00:05:23
midnight New York time the width of the
00:05:27
range is obviously the duration of 7:00
00:05:29
p.m. to midnight New York time so let's
00:05:32
take a look at this chart here and we'll
00:05:33
get a little bit closer zoom in on it
00:05:38
okay I'll cover some points here now
00:05:41
right away when you see this it probably
00:05:44
still doesn't give you any kind of
00:05:45
insight and that's fine but I'm gonna
00:05:48
build on it and show you how useful it
00:05:50
is but we're gonna build the model with
00:05:53
specific buy and sell conditions later
00:05:57
on in this video but for now take a look
00:06:00
at what you see here okay and kind of
00:06:01
like Burness in your mind your focus
00:06:05
should every single day be zeroed in on
00:06:08
7:00 p.m. New York and whatever that
00:06:11
time is on your broker's platform
00:06:13
whatever your charting platform or
00:06:15
package shows find out what time it is
00:06:18
at 7:00 p.m. New York time and then find
00:06:21
that same time on your charts that's
00:06:23
where you put a vertical line at and
00:06:25
that begins the asian session and then
00:06:27
five hours later it'll be midnight in
00:06:30
New York time put another vertical line
00:06:31
in and there's your Asian range defined
00:06:33
by the duration the highest high and the
00:06:36
lowest low is what we would use to frame
00:06:39
out the range now there's a lot of
00:06:43
Voodoo that you can do with this range
00:06:46
okay and again I'm not teaching it here
00:06:48
but believe me it can take you to the
00:06:50
highest
00:06:50
in the lowest pit of the day there's
00:06:54
some things you have to incorporate in
00:06:55
that and I teach that in the mentorship
00:06:56
but for now let's teach you a very
00:06:58
simple approach to how to use this and
00:07:00
when you can filter out trades and not
00:07:03
do anything that may end up taking a
00:07:06
loss if you do otherwise so let's take a
00:07:10
closer look and remove all of the
00:07:13
benefit of seeing the price action there
00:07:15
okay now we do have the benefit of
00:07:16
hindsight but nonetheless I want to kind
00:07:18
of build an understanding about what
00:07:21
this range does or at least my
00:07:23
interpretation of it now I was able to
00:07:24
see right away the importance of
00:07:26
utilizing it in my view on price action
00:07:31
during this range what's actually
00:07:33
happening is there's orders that are
00:07:35
coming in and they're stacking up above
00:07:38
the market and below the market relative
00:07:41
to that range and it's also building up
00:07:44
a market sentiment now this compression
00:07:47
of market participation starts to build
00:07:52
up closer and closer and closer until we
00:07:53
get to midnight in New York soon as we
00:07:56
cross over midnight time in New York we
00:07:59
are in fertile ground for price movement
00:08:03
we're going to assume that everyone in
00:08:08
this listening audience is familiar with
00:08:10
channels ok or trading ranges the idea
00:08:14
is above this range there's going to be
00:08:17
buy orders those buy odors are going to
00:08:21
act as breakout artists ok in other
00:08:24
words they are not astute to know how to
00:08:27
buy when it's a low price or technically
00:08:32
oversold without the use of indicators
00:08:34
so they just want to be buying on
00:08:36
strength and there's really nothing
00:08:37
inherently wrong about that if you know
00:08:39
what you're looking for but most traders
00:08:41
don't know what you're looking for and
00:08:43
they just go in any willy nilly and
00:08:44
entry based on breaking out above a know
00:08:47
high they'll buy that and view that as
00:08:48
strengths and I'll put the stop-loss
00:08:50
right below the low which would be here
00:08:52
short sellers would do the opposite they
00:08:56
would have their sell orders below this
00:08:58
range so any movement lower would
00:09:01
hopefully put them in a short position
00:09:03
and they would take the other
00:09:04
end of that range and put their
00:09:06
protective by stop so buyers that want
00:09:08
to break out above this consolidation
00:09:10
are going to buy want to stop with a
00:09:14
protective cell stop below the low
00:09:17
short sellers want to sell on a stop and
00:09:20
use a protective buy stop above the high
00:09:23
okay so the storyline is what are we
00:09:26
gonna do after midnight which is this
00:09:30
vertical line here
00:09:31
what's the storyline where are we going
00:09:32
to go my whole entire career has been
00:09:36
based on understanding dis phenomena and
00:09:39
it's been a more or less a pursuit of
00:09:43
excellence so I want to know with the
00:09:46
highest probability which side are they
00:09:49
gonna work on okay and what I mean by
00:09:51
that is are they going to try to put a
00:09:54
specific party of traders whether people
00:09:56
wish or bearish traders in on the wrong
00:09:58
side right before London creates what
00:10:01
the higher low of the day so the key is
00:10:06
and this is to take away so far in us
00:10:08
this is what should be even in your
00:10:09
notes right now is what you're looking
00:10:12
for what sets up the opportunity if you
00:10:15
will for the particular trading day is
00:10:17
if we have a very narrow consolidated
00:10:20
range between 7:00 p.m. and midnight or
00:10:23
what would be deemed as the Asian range
00:10:25
so if we have a very narrow
00:10:27
consolidation there that sets up a huge
00:10:30
possibility of the algorithm going into
00:10:34
a trending model okay so in other words
00:10:36
without going into IFTA and teaching
00:10:38
anything really about that the market
00:10:42
will seek the liquidity above or below
00:10:44
this range with a premise that it's
00:10:49
going to put them in the wrong side and
00:10:53
then it'll go the other way for the
00:10:55
remainder of the trading day
00:11:02
okay so let's take a look at how it can
00:11:04
utilize it in a bullish condition now
00:11:07
the periods when price is bullish we can
00:11:09
extend the age and range high and low
00:11:11
into the future when price returns back
00:11:14
to the Asian range high we can
00:11:16
anticipate institutional buying let's
00:11:20
take a look at that as an example here
00:11:23
we're going to assume that we have in
00:11:25
understanding our expectation if you
00:11:27
will that the Aussie dollar was bullish
00:11:29
for this particular day now if you want
00:11:32
to know what would blend well to coming
00:11:35
to that conclusion of being bullish if
00:11:37
you look at the daily chart you'll see
00:11:39
that there was a reason for the Aussie
00:11:42
dollar reached up to a equal high okay
00:11:45
and go down to a four hour or one hour
00:11:47
chart you'll see also that it's obvious
00:11:51
you can see it so far what we've shown
00:11:52
in the teachings in this series it's
00:11:55
been pretty obvious to know where the
00:11:57
liquidity is and that's what this whole
00:11:59
day was reaching for the buy stops above
00:12:01
equal high now again I want to take off
00:12:07
the Asian range and provide just a blank
00:12:11
chart okay and assume for a moment pre
00:12:16
my exposure okay to asian range this is
00:12:20
what I used to do okay this is how I
00:12:22
actually traded and I was doing this
00:12:24
since 1994 so you'll appreciate
00:12:28
hopefully the evolution if you will of
00:12:32
my understanding about how this whole
00:12:34
buying below the open when it's bullish
00:12:37
or selling above the open when it's
00:12:39
bearish all those ideas came from this
00:12:44
individual specific element that I'm
00:12:47
going to show you now I would have on my
00:12:50
chart a list of all kinds of indicators
00:12:52
okay so I'm gonna spare you all that but
00:12:54
if we just look at price actions as a
00:12:57
naked form of open high low and close it
00:13:01
can be rather
00:13:05
well confusing but if you look for
00:13:08
specific times of the day and specific
00:13:10
generic concepts or characteristics that
00:13:13
should manifest themselves then there's
00:13:16
a storyline that will start to develop
00:13:18
and you get this over the years many
00:13:20
times it's referred to as tapereading
00:13:23
many times it's referred to as gut
00:13:25
feeling or just triggers intuition or
00:13:27
just last I call it intuition and
00:13:30
experience if you will once you know
00:13:33
what you're looking for you wait for
00:13:36
that scenario to unfold so this is what
00:13:37
I would have done without the Asian
00:13:39
range this is how I always treated the
00:13:40
SP the bond market and currency futures
00:13:44
I would get the opening price at
00:13:47
midnight okay and that opening price is
00:13:50
seen here right there and all I do is
00:13:53
draw that opening price out all the way
00:13:55
out until 11 o'clock in the morning New
00:13:58
York time now the reason why I would
00:14:00
draw it out to 11 o'clock in the morning
00:14:02
New York time is because that would be
00:14:04
the end of the morning trend for the S&P
00:14:07
500 okay so that there's a reason for
00:14:10
that hour it's not that I'm just pulling
00:14:12
it number out of the air it's also very
00:14:15
close to what was taught in the previous
00:14:18
teaching the London close so that's what
00:14:21
makes that London close scenario it's
00:14:24
the end of the a.m. trend when the stock
00:14:26
market or equities market in the states
00:14:28
also it overlaps conveniently enough
00:14:32
with the close of London trading so
00:14:35
there's a little bit of manipulation
00:14:37
that goes on in there and some profit
00:14:38
taking so it creates an opportunity but
00:14:41
for opening range concepts I draw it out
00:14:44
to 11 o'clock in the morning New York
00:14:46
time okay so if we are looking for a
00:14:51
bullish scenario and I'm gonna just make
00:14:54
the case that we would be expecting a
00:14:56
higher Aussie dollar here I want to see
00:15:00
price initially drop down below that
00:15:03
opening price because I want to be
00:15:05
buying below the opening price the
00:15:07
understanding is is I want to figure out
00:15:08
what Larry Williams said he couldn't do
00:15:11
as a teacher I took it as a challenge as
00:15:14
a student that that's what I'm gonna
00:15:16
look for I'm gonna figure that out and
00:15:17
this is what my interpretation
00:15:19
of how to do that very thing was seen in
00:15:22
price action I would use the opening
00:15:24
price and as it dropped down
00:15:25
I would buy right there now if I either
00:15:28
did not have the guts to do that
00:15:30
or I missed the opportunity sometimes I
00:15:33
would wait for a specific price it
00:15:34
wouldn't get there and then it would
00:15:35
take off if I saw a reversal or
00:15:39
potential reversal I would look at the
00:15:42
high rate but right before the drop down
00:15:45
in here you can see there was a small
00:15:48
little segment of price action right
00:15:50
before that drop down I would put a buy
00:15:54
stop right there now as I graduated in
00:15:57
my understanding I would look to get in
00:16:00
as price was dropping down but I'd also
00:16:04
have this buy stop in place even if I
00:16:08
was able to get in many times price
00:16:11
would sometimes snap me in and put me in
00:16:14
own a buy stop and on my marker order as
00:16:16
price was dropping down so in other
00:16:17
words what I was doing was I was waiting
00:16:19
for price to drop down below this
00:16:21
horizontal line or a trend line segment
00:16:24
here okay that's delineating open price
00:16:26
at midnight in New York time the drop
00:16:28
down below that I'm hopefully trying to
00:16:30
buy that now as it starts to drop my eye
00:16:34
goes right here because now we're below
00:16:36
the opening price it may go lower and
00:16:39
give me my ultimate price of entry but
00:16:42
it may not so as soon as it starts to
00:16:45
break down after midnight and it goes
00:16:46
back to back down below the opening
00:16:48
price I immediately add a buy stop to
00:16:50
half the position I want to trade at
00:16:54
this point here so in other words if my
00:16:55
full position down here was say ten
00:16:56
standard Lots I would go in with a buy
00:17:00
stop at five standard Lots right here so
00:17:02
that way at worst case scenario if I
00:17:04
don't get my fill here and it reverses
00:17:06
if you will and runs real quick for
00:17:09
these highs it'll put me at least half
00:17:12
the position I wanted to get on down
00:17:13
here so half of something is better than
00:17:15
nothing if I were able to put on the
00:17:18
full position down here I would still
00:17:20
try to take
00:17:23
this stop-off if I get my full position
00:17:24
on down here sometimes I wasn't able to
00:17:27
do that now the problem is and your mind
00:17:30
is okay what happens if you put your
00:17:31
pole position down here and you're
00:17:33
risking 2% well I wasn't risking 2% so
00:17:37
I'm trading at 1% 1/2 percent and then
00:17:40
this position here if it fills me I'm
00:17:42
not over leverage or if I do get one
00:17:46
half percent on here and this half here
00:17:48
it would technically put me over
00:17:49
two-and-a-half percent risk but I'm
00:17:51
gonna be more aggressive about trying my
00:17:54
initial stop-loss up to try to pare that
00:17:55
down to 2% okay and that's really what I
00:17:59
was doing now let's contrast what I just
00:18:01
did here with the implementation of the
00:18:05
agent range and this is exactly where
00:18:07
price would fill you with that buy stop
00:18:10
being tripped so now I would be long
00:18:13
here if I didn't get filled down here
00:18:14
below the opening price at midnight this
00:18:16
would be where my buy stop with filming
00:18:18
and my stop loss would be below the low
00:18:20
and you can see I had to weather this
00:18:22
retracement here and then because he
00:18:25
gets the move later on in the day now
00:18:27
let's take this discussion back the
00:18:29
implementation of the Asian range and
00:18:31
I'll show you how I evolved and seen a
00:18:35
much clearer view on price action using
00:18:38
the range as I define it here 7 o'clock
00:18:40
p.m. New York time to midnight zero zero
00:18:43
level not like 12:30 or 1:00 o'clock in
00:18:46
the morning on that stuff exactly at
00:18:48
midnight ok because what we're banking
00:18:51
on is the midnight opening price that's
00:18:54
what sets the algorithm it goes through
00:18:58
it goes to a reset if basically if you
00:19:00
if you want to think of it like that so
00:19:02
if we're bullish it's going to go below
00:19:04
that opening price to seek liquidity and
00:19:06
then go higher and spend the rest of the
00:19:11
day going higher when it's bearish it'll
00:19:13
go above the opening price at midnight
00:19:14
to reach for liquidity and then move
00:19:18
lower for several hours going into
00:19:19
London closed or New York open so
00:19:24
let's take a look at what's going on
00:19:26
with the implementation of the agent
00:19:28
range now we have a tight asian range in
00:19:31
here okay and again by odors are above
00:19:34
the range sellers are below the range
00:19:36
price right after midnight does what
00:19:39
goes up and taps the asian range high
00:19:42
now you're saying okay well it didn't go
00:19:45
above it let your stop be there and I
00:19:49
guarantee you the broker spread will
00:19:51
open up wide enough to get that and
00:19:53
you'll be in long and your stop-loss
00:19:55
which will be right that low or just
00:19:57
below it will be tagged right there even
00:20:01
though it reflects here your broker and
00:20:03
this is what you sign up with when you
00:20:05
open up your account you are giving them
00:20:08
permission to open the spreads up on you
00:20:12
everybody makes this big complaint about
00:20:14
oh well they did this they did that you
00:20:16
sign it and you agree to it so when you
00:20:19
see people online saying a date rig with
00:20:21
three pip stop losses that's not true
00:20:24
it's not accurate and they are not doing
00:20:25
it with live accounts because believe me
00:20:27
in-house plenty money gains with the
00:20:29
brokers would eat them up immediately it
00:20:33
would not happen okay I think personally
00:20:35
with a stop loss of anything less than
00:20:40
10 pips is just ludicrous it's stupid
00:20:42
okay because Begley is from a retail
00:20:46
brokers standpoint you're inviting them
00:20:48
to take your stock it's just way it is
00:20:51
you can argue with me and give me all
00:20:53
kinds of track history and say well I'm
00:20:54
trading with a five pip stop here and
00:20:55
there it's fine
00:20:56
do it ten years and see how many times
00:20:58
get burned the point is why offer
00:21:01
yourself up on the altar for that
00:21:03
sacrifice when there's better ways of
00:21:06
doing it you don't have to have less
00:21:09
than 10 pip stop losses to do very well
00:21:11
we have an Asian range in here with the
00:21:14
understanding or in this model we're
00:21:15
gonna expect bullishness okay and price
00:21:19
starts to go up initially and comes back
00:21:23
down and breaks the asian range down
00:21:25
here so we take out the low on the asian
00:21:29
range that's been extended beyond
00:21:31
midnight that trips in sellers and it
00:21:34
also knocks out individuals that would
00:21:35
have been pulled in on a buy stop right
00:21:38
at this level so long holders are in and
00:21:40
now they're out short holders are in now
00:21:44
and their stop-loss is above here or
00:21:46
here so they're taking both sides of the
00:21:49
marketplace in and out and then the
00:21:52
market takes off goes higher what we
00:21:55
look for is this little movement right
00:21:58
here that movement is what sets the tone
00:22:02
when we're bullish we want to be buying
00:22:04
there or we can do what I showed earlier
00:22:07
you can put a buy stop right here if it
00:22:09
gets filled a contingent order that
00:22:14
would be if I'm filled with your broker
00:22:16
for cancer order basically if we have a
00:22:19
parent contingent order suggesting they
00:22:22
who buy on a stop if that stock gets
00:22:25
filled if it happens then we would place
00:22:27
a sell stop below this low at some
00:22:29
specific price level and you could leave
00:22:33
that in the marketplace and go to sleep
00:22:34
and don't even worry about watching all
00:22:36
this stuff okay that's one way you can
00:22:38
apply a day traders model and/or enter
00:22:43
with a long term model but using a day
00:22:45
traders approach to trading that whole
00:22:47
entry if you've missed this one okay and
00:22:52
price starts to rally away we have to
00:22:54
have the story line behind this example
00:22:56
of being bullish otherwise this could be
00:22:58
an easy sell as you'll see when we talk
00:23:02
about when the conditions are bearish
00:23:03
but knowing where the market is most
00:23:06
likely trying to go from a higher time
00:23:08
frame standpoint is significant and
00:23:11
crucial and utilization of the Asian
00:23:13
range otherwise you're just going to do
00:23:15
some things that aren't going to be
00:23:16
profitable so if we're bullish we'd like
00:23:20
to see this element here and then this
00:23:22
here no problem we don't need to get
00:23:24
that and we don't need to be a part of
00:23:26
this movie or okay we wouldn't wait for
00:23:27
price to come back down and touch the
00:23:30
Asian range high now it does so here
00:23:33
that's a little early and then we do it
00:23:35
again in the New York open so New York
00:23:38
open we see price trading back to the
00:23:40
Asian range high right there is where
00:23:43
institutional buying is going to step in
00:23:45
why are they doing that because the
00:23:47
initial range that was set between 7:00
00:23:49
p.m. and midnight
00:23:52
midnight is when HIPAA the interbank
00:23:54
price delivery algorithm resets and then
00:23:58
it it attacks
00:23:59
open liquidity or the open flow which
00:24:03
would be the order table of the agent
00:24:04
range and below the agent range all
00:24:06
right you know you're gonna know 15
00:24:08
different people that work at a bank or
00:24:10
they know somebody they smoke cigars
00:24:11
with on the weekends in the air market
00:24:13
maker they're gonna say what I just said
00:24:14
to you is nonsense but I'm telling you
00:24:17
they don't know what you're talking
00:24:19
about because I'm doing this daily to
00:24:22
the PIP week after week day after day
00:24:24
and I'm telling you it's not based on
00:24:26
anything else except for what I learned
00:24:28
okay and some of the things are gonna go
00:24:31
in the category of tinfoil hat and I'll
00:24:34
just let you wrestle with that I don't
00:24:36
really care about your opinion just know
00:24:38
that what I'm suggesting to you here if
00:24:40
you look at it in price action it's
00:24:42
there so we can see the optimal trade
00:24:44
entry from this low to this high retrace
00:24:48
back down New York open overlap with the
00:24:51
Asian range high with the story line is
00:24:53
that we're bullish on the higher time
00:24:54
frame beautiful illustration of a Asian
00:24:58
range application in bullish conditions
00:25:00
in an off to the races we go so we have
00:25:04
two opportunities in here in the New
00:25:07
York open and we have one set up here
00:25:09
that gives us a really really low and
00:25:12
entry point with very little risk in
00:25:15
terms of our entry and then the
00:25:18
subsequent move higher
00:25:19
the other portion would be entering on a
00:25:23
stop here above the Asian range but you
00:25:25
wait you have to sit up and you have to
00:25:27
wait for price to drop down below the
00:25:30
Asian range then you buy want to break
00:25:32
above the asian range high but the
00:25:34
conditions have to be bullish and we
00:25:36
have to first see Asian range low break
00:25:38
then a buy stock can be placed at the
00:25:40
Asian range high if you do this before
00:25:42
the Asian range low is taken you will
00:25:45
get burned you will get stopped out you
00:25:47
will send me email saying doesn't work
00:25:49
I'm telling you there's rules here and
00:25:52
it just gave them to you rewind the
00:25:53
video and listen to it again
00:25:55
it's very clear
00:26:01
all right say utilization of the Asian
00:26:03
range in bears conditions okay again
00:26:06
like we said but when it's bullish
00:26:07
there's a period it's quiet right before
00:26:10
the Frankfurt and London open and we
00:26:12
wouldn't focusing on that and when it's
00:26:14
in a tight narrow consolidation we're
00:26:16
gonna be looking for some measure of
00:26:18
manipulation if you will on price action
00:26:20
so what we're going to doing is waiting
00:26:23
for a break in the Asian range low and
00:26:25
then when price trades back up to it
00:26:27
we're going to be anticipating
00:26:28
institutional selling so let's take a
00:26:31
closer look at this example here
00:26:33
zoom in here get some more detail now
00:26:36
let this image burnin for a minute okay
00:26:40
and now we're going to take it off and
00:26:43
go to an element of naked price action
00:26:47
and I'm gonna show you what I was doing
00:26:50
prior to learning about the Asian range
00:26:55
there's the opening price again this
00:26:58
candle and I would be looking for
00:27:01
bearish price movement and if we're
00:27:04
going to just suspend your disbelief
00:27:06
whether or not I was actually bears
00:27:08
before this day or not trust me and go
00:27:10
through my Twitter you'll see all kinds
00:27:12
of examples of me doing this very thing
00:27:14
but nonetheless we're gonna sue for sake
00:27:18
of argument that we're bearish on this
00:27:20
particular currency that day okay we're
00:27:23
gonna be looking for price movement
00:27:25
above the opening price that's what I'm
00:27:27
looking for here okay now I learned
00:27:29
early on that these levels these double
00:27:32
tops they were fake outz and that's why
00:27:36
I loved the turtle soup trading pattern
00:27:39
that I learned in a book called street
00:27:40
smarts and if you don't have it you
00:27:42
should buy it's a very very good book
00:27:43
but that pattern in there resonated with
00:27:46
me because I was already doing things
00:27:47
similar to that and I would just look
00:27:50
for those equal highs and equal lows
00:27:52
which I've already taught you in this
00:27:53
series and right away there's a large
00:27:55
number of you in our community that are
00:27:57
just going through the roof right now
00:27:59
with excitement cuz now you see
00:28:00
something that's always been there but
00:28:02
now you see it and it's useful to you
00:28:05
you can see where price is drawn to well
00:28:07
if we see this time of day this is
00:28:09
midnight and we're bearish we have equal
00:28:11
highs in here right away I want to know
00:28:14
there's going to be a rally above the
00:28:16
opening price and I extend that out in
00:28:17
time about love o'clock in the morning
00:28:19
New York time and any time price trades
00:28:22
above that opening price and it's inside
00:28:25
of a kill zone that means the London or
00:28:30
New York open kill zone if it trades
00:28:33
above that opening price I will look to
00:28:34
go short now if we go above it and this
00:28:40
is what I was doing before I started
00:28:41
incorporating the Asian range concept I
00:28:43
would just simply look for this rally
00:28:44
above if I got this scenario here I was
00:28:47
selling right there
00:28:48
I would sell short the SP I would sell
00:28:51
short Deutschmark I would sell short the
00:28:53
Swiss franc I would swell the and all
00:28:56
those commodity futures contracts that's
00:28:59
what I would that was my entry technique
00:29:00
right there and then I would go to sleep
00:29:02
and wake up around 5 o'clock and more
00:29:04
and hopefully I'd get some profit and I
00:29:06
would take something off try my
00:29:08
stop-loss really really tight sometimes
00:29:09
get stopped out other times it would
00:29:11
carry right on over into Globex into
00:29:13
open outcry in the pits and then I would
00:29:16
catch some more follow-through in the
00:29:19
day session hours in the New York
00:29:20
session but if that's my entry point
00:29:26
there just like anybody else life may
00:29:30
get in the way I may get sick my kids
00:29:33
may be complaining about growing pains
00:29:35
and I can't be in front of my charts you
00:29:37
know this happens you know I'm a dad I'm
00:29:39
a husband I own - I'm a pet parent own
00:29:43
two boxers and anything can happen
00:29:46
okay the distract me from actually
00:29:48
getting in where I want to get in it I
00:29:49
don't always use limit orders there are
00:29:51
certain conditions where I want to use a
00:29:52
limit order but mainly I want to be
00:29:55
executing rate when the markets
00:29:57
happening to be trading against my
00:29:59
directional bias for the day I don't
00:30:02
mind market order some folks that say
00:30:04
you shouldn't be using market orders you
00:30:05
know they should be using limit orders
00:30:07
again that goes along with not knowing
00:30:09
what I do I'm actually trading
00:30:12
aggressively rate as the markets
00:30:14
screaming higher I go marketing selling
00:30:16
short rate than in there and you seen my
00:30:18
examples I'm getting in there rate to
00:30:19
highs and order very lows so I don't
00:30:22
care what anybody else's opinion is I
00:30:23
can do it over and over again you're not
00:30:25
repeatedly showing it week after week
00:30:28
if you are up in a week looking at lemon
00:30:31
you can use market orders but if I am
00:30:34
NOT going to be awake I will put a limit
00:30:36
order in about two pips above these
00:30:39
equal highs my limit order would be
00:30:41
about bear and my stop-loss will be
00:30:42
about 35 to 40 pips and I would go to
00:30:45
sleep and be comfortable with that ok I
00:30:48
would have an 80 pip take profit on the
00:30:51
full position that way if I did wake up
00:30:54
and it moved an accelerated pace and
00:30:56
move 80 pips that would be 5 pips over
00:30:59
my weekly objective which is 75 pips I'm
00:31:02
always aiming for fifty seventy five
00:31:03
pips only for a weekly objective once I
00:31:05
do that I'm done trading I don't do
00:31:06
anything else but I leave myself the
00:31:09
opportunity to catch a tiger by the tail
00:31:11
if I wake up and the markets already
00:31:13
moved 80 pips I'm done for the week and
00:31:15
I didn't do anything but sleep in the
00:31:17
whole process but if I miss this
00:31:21
opportunity okay if I miss it my eyes go
00:31:25
rate to the low that form prior to that
00:31:28
run above the opening price when I'm
00:31:30
bearish so I'm going to place a sell
00:31:32
stop to get me in now sell stops
00:31:35
gentlemen you understand them as a
00:31:37
protective basis or mechanism to protect
00:31:41
your long position if there is no long
00:31:43
position and you place a sell stop it's
00:31:46
going to put you in short and that's
00:31:47
what I'd be expecting to see happen here
00:31:50
so in price drops down I could be short
00:31:53
there and my stop-loss
00:31:54
would be above the high today so let's
00:31:56
assume for a moment that I missed this
00:31:58
opportunity here and I just can't stay
00:32:01
up something happens you know my wife is
00:32:04
getting ready have a baby this has
00:32:06
happened I had to take a trade so I'm
00:32:10
you know I have to trade folks okay it
00:32:13
is what it is okay and I had to hear
00:32:14
about it on the way to the hospital that
00:32:16
day but nonetheless you know this is
00:32:19
this is real-life stuff here folks so if
00:32:22
I miss the opportunity to get in okay
00:32:24
and and the Swiss franc is looking to go
00:32:26
lower I'm gonna place a sell stop a
00:32:29
little swing low right before the rally
00:32:31
above the opening price with the
00:32:32
expectation that if this order fails it
00:32:35
will place a protective buy stop above
00:32:37
the high + 3 pips and then again same
00:32:40
scenario I would
00:32:41
take profit of 50 tips which is a low
00:32:44
and I make weekly objective and that's
00:32:46
it I don't trail my stop
00:32:48
I do not trail stops I do not have a
00:32:51
mechanism that trails my stop-loss
00:32:53
slower because I don't think it should
00:32:54
be done okay
00:32:56
I teach taking partials is the better
00:32:57
way to go and leave your stop-loss where
00:33:00
you initially put it manage the risk
00:33:02
from taking partials and then slowly
00:33:04
move it down after New York trading
00:33:05
starts because if you're gonna get a big
00:33:08
grain today like we see here you want to
00:33:10
trail the stop-loss after New York has
00:33:12
done its retracement if we take the
00:33:14
conversation back to the utilization of
00:33:17
the Asian range we can see here what's
00:33:20
actually happening is we have a tight
00:33:21
narrow consolidation and we're bearish
00:33:24
now think we have folks that want to buy
00:33:26
on the breakout they get tripped in with
00:33:28
the move above the asian range high here
00:33:30
so now what are they they're long wears
00:33:32
their stuff lots gonna be at right below
00:33:34
that low mark goes right down below
00:33:36
there to take their stops notice it
00:33:37
doesn't just go a little bit it goes
00:33:39
conveniently 10 pips below it it's gonna
00:33:42
sweep out anybody that has a stop loss
00:33:44
at or just below that low and using that
00:33:47
little tail over here they think that
00:33:49
they're safe they're not the real move
00:33:51
is running above the asian range high
00:33:54
after the buys have been put in then
00:33:57
taken out driven back up again why
00:34:00
because short sellers that we're lucky
00:34:02
enough to try to sell short at the top
00:34:04
of this channel or trading range they're
00:34:06
making money here they're not going to
00:34:08
be allowed to be profitable they run on
00:34:10
their stops which would be a buy stop
00:34:12
run above these highs that's where
00:34:15
you're looking to be a seller this is
00:34:17
the lowest risk high probability entry
00:34:20
for using the Asian range if we wait for
00:34:25
the Asian range low to be broken
00:34:29
and it reads back up to it that's the
00:34:31
other entry point using the Asian range
00:34:33
so we can see there's two ways of using
00:34:35
this range selling above the Asian range
00:34:38
high when we're bearish best scenario
00:34:40
especially if you have the centering
00:34:42
that's been outlined here understand the
00:34:45
storyline you have to have a bias on the
00:34:48
day and do not change gears based on all
00:34:53
this little movement here you have to
00:34:55
stick to what your analysis is calling
00:34:57
for our time frame is going to go lower
00:34:59
so we want to be looking for the market
00:35:02
to take out the Asian range high if that
00:35:05
happens we could sell short there or the
00:35:08
low risk confirmation trade is wait for
00:35:10
the Asian range low the break and then
00:35:12
trade back up to it and then we can sell
00:35:14
there okay and if it happens to occur
00:35:17
during an ICT kill zone London open or
00:35:19
New York open their probabilities go
00:35:22
through the roof in terms of being well
00:35:25
accurate and then you can see that
00:35:28
unfolding your charts if you go through
00:35:29
the the charts with this in mind okay
00:35:34
just put the asian range on and paint
00:35:37
them manually I know you all want
00:35:39
indicators and pop this up and empty for
00:35:42
this and empty for that physically draw
00:35:45
them in spend some time in the charts
00:35:47
get intimate with price action because
00:35:49
it's going to teach you a lot more I had
00:35:51
to do this stuff with charts that were
00:35:54
you know drew hand-drawn like I I had
00:35:57
well session with printed charts so I
00:36:01
would print out charts and I would do
00:36:02
all these things by hand and a ruler and
00:36:04
a magic marker and highlighter that's
00:36:06
the stuff I used to do and then I'm
00:36:08
convinced that's what made me good at it
00:36:10
being lazy about this okay what you're
00:36:14
really saying is is I don't really have
00:36:15
time to really study it just give me the
00:36:17
lipstick on the chart and then there it
00:36:19
is you will not get the same level of
00:36:22
appreciation or understanding if you
00:36:25
short cut it draw the levels on as I
00:36:29
taught so by taking the time to draw
00:36:31
this out manually and reminding yourself
00:36:33
okay maybe even be worth taking the time
00:36:36
to type out a notation you know in this
00:36:40
in this area here
00:36:42
to not focus one two movements below the
00:36:46
age range okay focus primarily on a move
00:36:50
above the Asian range high when we're
00:36:54
bearish and/or if we break the low the
00:36:58
Asian range after midnight wait for a
00:37:01
retest uniform for resistance now think
00:37:06
about what you're seeing here if we look
00:37:09
at price action like this if what if we
00:37:12
don't use the asian range concept here
00:37:14
as i'm outlining the question is is why
00:37:18
would this be a selling point i mean
00:37:22
granted you know you can go back to this
00:37:24
low here and say well that's probably a
00:37:26
reason for it but would you really look
00:37:28
at that after seeing this and then this
00:37:31
movement through yeah without this in
00:37:34
sight chances are you're probably not
00:37:36
going to see this actual scenario and
00:37:38
that's just a difference between
00:37:39
understanding tape reading and building
00:37:42
context behind price and also sticking
00:37:45
with a bias it's important to know what
00:37:47
a trading bias is for any given day and
00:37:49
anyone that tells you don't trade with a
00:37:51
bias they're the ones that are telling
00:37:53
you that because they don't know how to
00:37:55
do it I've given many examples on how
00:37:56
you can arrive at a daily bias and
00:37:59
you're not gonna get a daily bias that's
00:38:00
accurate every single day so don't let
00:38:01
me paint that picture for you but I can
00:38:05
be in the upper 90s in terms of my
00:38:06
probabilities and directional bias if
00:38:09
you can get just 65 to 70 percent
00:38:12
accuracy with or with your bias and then
00:38:15
wait for conditions like I'm showing you
00:38:16
here adding time of day
00:38:19
kill zones daily bias focusing was the
00:38:23
Asian range we've already looked at
00:38:25
power three it builds the entire model
00:38:29
for the daily range and you are not
00:38:32
surprised when certain things happen in
00:38:33
fact you're anticipating them before
00:38:35
they happen and by seeing day after day
00:38:38
after day of doing this you become much
00:38:41
better at well interpreting price action
00:38:44
and forecasting which is a skill set
00:38:47
that you cannot learn from reading books
00:38:49
or watching my videos you have to spend
00:38:51
time in the charts and if you do that I
00:38:53
promise you you will glean more
00:38:56
that than anything else that you would
00:38:58
ever study I hope you enjoyed this
00:39:03
presentation and if you did you can find
00:39:05
more at the inner circle trader.com