YouTube Video — Transcript

Free ICT 2022 mentorship on trading E-mini S&P futures, analyzing June 2022 contracts with detailed chart and trade insights.

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Key Takeaways

Understanding market structure and liquidity is crucial for effective futures trading.
Fair value gaps and equilibrium zones help identify premium and discount price levels.
Discipline and clear rules are essential, especially during volatile or uncertain market periods.
Real-time trade management, including partial exits and stop placement, improves risk control.
Market behavior around key times can offer trading opportunities but requires careful analysis.

What the video covers

Mentorship session focuses on E-mini S&P futures contract for June 2022 and upcoming rollover to September contracts.
Hourly chart analysis highlights swing lows, highs, equilibrium, and market conditions like premium and discount zones.
Five-minute chart review explains price movements, sell-side liquidity, fair value gaps, and market structure shifts.
One-minute chart zooms in on specific trade entries, stop losses, and liquidity clearing events.
The presenter shares real-time trading decisions, partial exits, and limit order fills with Twitter references.
Discussion on market behavior around key times like 8:30 and 9:30 a.m. and the impact of sell stops.
Emphasis on discipline and rules-based trading, especially during uncertain market conditions ahead of non-farm payroll data.
The presenter plans to pause public content until Thursday after fulfilling private group commitments.
Video includes practical examples of trading strategies and risk management in a live market environment.
Encouragement for viewers to learn from the analysis and maintain consistency in their trading approach.

Chapters

What is the significance of the June 2022 E-mini S&P futures contract in this video?

The video focuses on trading the June 2022 E-mini S&P futures contract, analyzing price action before the contract expires and rolls over to September 2022.

How does the presenter identify premium and discount price levels?

Premium and discount levels are identified using equilibrium price zones and fair value gaps, where prices above equilibrium are premium and below are discount.

What trading strategy does the presenter emphasize during volatile market conditions?

The presenter emphasizes discipline, having clear rules of engagement, and being content with partial profits rather than hunting trades during uncertain periods like non-farm payroll weeks.

Full Transcript — Download SRT & Markdown

Speaker A

All right, folks, welcome back to the continuing ICT 2022 free mentorship on YouTube. I'm taking you into the E-mini S&P futures contract for June 2022. I saw questions in previous videos where they're asking about June, and we're in the month of May.

Speaker A

These contracts are delivered by contract month, so we're about to, in a couple of weeks, end trading of the June contract. Then we'll roll over into the September 2022 contract, but we have a couple of weeks still trading June. Toss that in there for no extra charge.

Speaker A

All right, so hourly chart, obviously we are looking at a swing low here to swing high, getting our range. Here's equilibrium. So the market did, in fact, drop down into a discount and a pair of a gap. So we have a market that is in what?

Speaker A

An oversold condition. Do we need an indicator to plot that or determine that? Nope, absolutely not. The rectangle is there just to draw special attention for you, the viewer. The fib is just to highlight exactly where equilibrium is. Anything above that

Speaker A

level would be considered premium. Anything below it, discount. So we've moved from this high down into a fair value gap and below equilibrium, so we're in a discount. All right, here's the five-minute chart, and notice that we had this run up in

Speaker A

here. I mentioned on Twitter, and again, my Twitter feed is not a signal service, so that way we understand one another. But I was highlighting the idea that this was likely to go higher and it needed to go for a premium

Speaker A

relative to this high and that low. So we moved up into a premium, then we slid aggressively, taking out relative equal lows, so below this low here. And here is what sell-side liquidity is. It was quick to do that, rate

Speaker A

the opening at 9:30, short little bounce, then one more time below the low here, taking out sell-side. For anyone that wanted to capture along here, they knocked them out. Then we had a shift in market structure

Speaker A

and then rolled up even higher, rebalancing all of this, drop back down into an area here where we have a five-minute pair of a gap trades. Not into it. I mentioned on Twitter that we would likely trade higher and

Speaker A

take out the short-term high here and here. So imagine the morning high, that's this here. That was going to be the draw on liquidity, and we saw that run here and actually went a little bit higher than I

Speaker A

thought it would for the morning, ultimately up into a fair value gap up here for a really, really deep premium from low to high, straight up into that, and then pull back inside the range between this low and the high.

Speaker A

So on a one-minute chart, we're zoomed in here, and you can see the morning. I did a small trade here. I recorded this, did a small little vignette, shared it on Twitter, took partials here at the time of

Speaker A

posting the tweet, and then the limit order getting hit here. Then the only other trade I had today was waiting for it to drop down to a discount, and when it did, I went long here, had a little bit of

Speaker A

heat here, not much. It was like five handles, so bearable. Stop loss was just below the swing low over here. So did it hit it? No. Did it look like it was going to? I don't know. I wasn't looking at the

Speaker A

chart at the moment it happened to trade here. I don't care, but I ended up coming back up, and I mentioned that we would run this high right here because we've taken out the sell stops here after running higher.

Speaker A

So we had a shift in market structure back here earlier, and then we could basically consolidate and drop down to take out the sell stops. So anyone that was lucky enough to go along here and rode it up to here,

Speaker A

the algorithm drops back down, clears the board, taking out the sell stops below here. I'm buying those sell stops. I had a little bit of heat here. We rallied, and I mentioned that we would start going higher now because we've

Speaker A

cleared out the sell stops. And going over into the one-minute chart with a little bit more detail, here's the initial drop. Now, here's what I want to bring to your attention. We had a short-term little shift in market structure here, and I

Speaker A

know some of you see this and you see this one here. Which one's the shift in market structure? Well, I'm playing the run up here to a premium like I was mentioning on my Twitter feed this morning. So if this is a range I'm working within,

Speaker A

the shift in market structure occurs here when it takes out that high, drops down into a fair value gap, which is what I bought. I didn't believe we were going to take out the lows here because we should have

Speaker A

done it at 8:30 news. It didn't do it, so this is deep retracement and then sent it higher to go into a premium right before 9:30 a.m. And then they sank it down. Notice there's no model entry

Speaker A

here that's telling, okay, it's tipping its hand to you because there's no real setup, and it's a rush to get down here. It's clearing out sell-side liquidity, going down, rallying, suckering in longs, trying to pick the bottom, knocking those

Speaker A

individuals out. Now, they are not allowed to be long, their stops taken. Nobody in retail usually will take a re-entry after something like that. They're afraid it rallies up, comes down to a fair value gap, shift in market structure here, rallies

Speaker A

relative equal highs, drops back down in very, very good order block, rallies once more, goes into the imbalance here, consolidates, bumps up just above the short-term high here, then drops one more time clearing the liquidity out here,

Speaker A

and you see my entry was at 4120 on five contracts. And again, here is the tweet. Okay, and I'll have the link posted in the description below this video so you can click and see it, and it's time and

Speaker A

date stamped. That is exactly as you see it here. All right, so it says sell-side liquidity is taken, free to run to 43 and a half. That's this level here while I was here. So continue on first partial, which is when I tweeted.

Speaker A

You can see that in the timeline this morning. Three contracts were sold at 41 39 and a quarter, and finally the final two were filled on a limit order at 41.43 and three quarters, and ultimately it rode a little bit

Speaker A

higher, which was fine. I was juggling a lot of administrative tasks this morning, but nonetheless, you can see all the trades are here in here. So was it a lot? No. But, you know, hopefully you guys learned something today. We have a non-farm

Speaker A

payroll scenario this week. It's the first week of the month transitioning from one month into another, and I typically like to have all my trading done by Wednesday. And because I've done what I've shown here today, I'm satisfied with this particular week.

Speaker A

Now, some of you are going to be like, this is crazy. You have Wednesday still, you have Thursday still, yeah, Friday. You're welcome to do that, but I have to be disciplined, and being consistent, how you get there is having rules,

Speaker A

rules and engagement. So you're welcome to practice, but I'm not trying to hunt anything more this week because, frankly, it can go either direction. It can go higher or lower based on that daily chart. So because I don't have a

Speaker A

clear definitive objective, I'm going to sit on my hands and just be content with what I've shown you all here today. And that's going to be it for this week. I'm going to be finishing up with my private group. I have a lot of things I

Speaker A

have to fulfill for them, and it means I'll be quiet on Twitter and I'll be quiet on YouTube until Thursday. I'll put another video up on Thursday evening. Until then, be safe.

Topics:E-mini S&P futuresJune 2022 contractfair value gapmarket structuresell-side liquiditytrading mentorshipICT tradingequilibrium pricenon-farm payrolltrade management

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