Top Down Analysis | Daily Bias To Entries - ICT Concepts
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Using Daily Bias and Lower Time Frames for Entries
- The video is focused on using daily bias and then dropping to lower time frames for entry.
- The example shown is from the MXM Traders Twitter page, where the trader frames the trade on the daily chart and then drops to the hourly chart for entry.
- The process involves identifying swing lows and fair value gaps on the daily chart, and then looking for point of interest and entry on the lower time frames.
- Another example is shown on the NASDAQ daily chart, where the trader identifies a swing high and a daily order block as potential resistance levels.
- The trader then drops to the hourly chart and marks out the London and New York sessions to find a point of interest for entry.
- Finally, the trader goes down to the 5-minute chart to confirm the entry based on the hourly order block.
Using Order Blocks and SMT for Entry Points in Trading
- Analyzing previous day highs and lows to identify potential order blocks.
- Looking for reactions off of order blocks to determine entry opportunities.
- Using daily bias to drop down to lower time frames for entry confirmation.
- Marking out previous day highs and lows as points of interest.
- Anticipating price to reach previous day low as a support level.
- Using fair value gaps as potential entry points.
- Confirming entries with stop placement and target levels.
- Analyzing up close candles for potential order block formations.
- Anticipating price to reach below previous day low for confirmation.
- Using SMT (swing, move, trap) analysis for confirmation of entry points.
- Setting stop loss above previous highs and targeting previous day lows for minimum risk-reward ratio.
- Anticipating expansion based on previous day highs and lows.
Analysis of Price Action and Anticipation of a Move Lower
- Observing an up-close candle reaching into a fair value gap and displacing lower.
- Not wanting to see price reach much higher than the indicated order block.
- Monitoring price movement before the New York AM session.
- Bullish PD arrays being respected as price moves higher towards the order block.
- Switching to the 5-minute chart to analyze the situation further.
Using Daily Bias and Lower Time Frames for Entry Confirmation
- Identify swing lows and fair value gaps on the daily chart.
- Look for points of interest and entry on lower time frames.
- Analyze previous day highs and lows to identify potential order blocks.
- Look for reactions off of order blocks to determine entry opportunities.
- Use daily bias to drop down to lower time frames for entry confirmation.
- Mark out previous day highs and lows as points of interest.
- Anticipate price to reach previous day low as a support level.
- Use fair value gaps as potential entry points.
- Confirm entries with stop placement and target levels.
- Analyze up-close candles for potential order block formations.