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Charting Session // 3/12/2024

Justin Werlein 2024-03-13
6K views|4 months ago
💫 Short Summary

The video emphasizes the importance of trading with confidence in a solid strategy, avoiding distractions, and recognizing market manipulation. It discusses the significance of identifying bullish models, market signals, and efficient trading conditions. Risk management, strategic entry points, and adapting to market behavior are key takeaways. The speaker highlights the need for waiting for bounce backs, setting appropriate stop losses, and avoiding impulsive trading behaviors. Entry points, setups, and the concept of Turtle Soup are explored, with an emphasis on internal models and fair value gap analysis. Overall, the video provides insights into developing a successful trading strategy based on market conditions and structural analysis.

✨ Highlights
📊 Transcript
Importance of Confidence in Trading Strategy
02:12
Having confidence in your trading strategy is crucial and should not be influenced by others' opinions or results.
Traders should focus on solidifying their approach, identifying winning setups, and maintaining consistency.
It is important to focus on what works for individual preferences and not be swayed by external factors.
There is diversity in trading styles within the community, and traders should recognize what suits them best.
Focus on trading based on your own convictions and strategies.
03:29
Avoid being swayed by others making money with different methods.
Do not lose conviction by copying trades without understanding them.
Stay consistent and avoid FOMO and distractions from other strategies.
Analyze internal and external models to determine market direction with a bullish bias indicating potential for higher prices.
Analyzing price structures to identify market manipulation and make trading decisions.
07:08
Recognizing equal lows and highs, internal liquidity being swept, and manipulation in specific time frames.
Marking significant points for potential entry and explaining 'turtle soup' as a bullish buy strategy.
Emphasizing the importance of understanding market manipulation for successful trading decisions, focusing on liquidity and price displacement.
Highlights of Trading Strategies Based on Recognizing Market Manipulation.
10:17
'Smt' is used as a signal for price to stop going lower, indicating a potential reversal.
Waiting for the displacement and recognizing setups is crucial to avoid missing out due to manipulation.
Identifying bullish expansion moves is important in understanding market inefficiencies.
The key takeaway is interpreting market signals to make informed trading decisions.
Importance of recognizing efficient market conditions and trading based on fractal price patterns.
13:12
Aligning the external model with the internal model allows traders to anticipate price movements and make informed decisions.
Waiting for specific time windows and identifying key patterns, such as turtle soup, maximizes trading opportunities.
Understanding the reasons behind price movements and avoiding manipulation increases chances of success and minimizes risks.
Emphasizing the importance of timing and strategic entry points for efficient trading outcomes.
Importance of waiting for price to show a bounce back and setting an appropriate stop loss before entering a trade.
17:29
Need for a clear understanding of where to place stops based on market conditions, especially when trading correlating assets.
Setting a stop loss is easier when trading on ES compared to NQ due to the clarity provided by market movements.
Emphasis on focusing on risk management and adapting trading strategies based on market behavior.
Importance of Waiting for Initial Move and Placing Stops.
21:55
Emphasizes the significance of waiting for the initial move and setting stops at recent lows to minimize risks.
Avoiding Trading on 'No News Mondays'.
Warns against trading on Mondays with no significant news, as it increases the chances of making mistakes.
Recognizing Market Conditions and Avoiding Impulsive Trading.
Highlights the importance of understanding market conditions and refraining from impulsive trading behaviors.
Speaker advises against trading in unpredictable and volatile market conditions.
23:47
Discussion of a previous trade and analysis of price movements for rejection points and short opportunities.
Emphasis on waiting for good market conditions and having conviction in trade setups.
Analysis of price levels, fair value gaps, and breakers to determine entry points.
Expectation of price to rebalance into certain ranges based on market equilibrium.
Importance of Setups and Displacement in Trading.
25:31
Emphasis on Turtle Soup entry strategy, stressing the necessity of multiple entries according to price movement.
Exploration of various scenarios for trade entries and stops, with a focus on internal models and fair value gap analysis.
Reflection on trading setups of the day and the significance of trading based on initial bias and breakers.
Importance of analyzing price movements and waiting for specific setups before entering trades.
30:42
Building confidence in trading decisions is crucial for success.
Evaluating market structures is key to developing a trading strategy.
Understanding potential bearish scenarios and identifying price manipulation can help in making informed decisions.
Developing a trading strategy based on market conditions and structural analysis is essential for profitable trading.
Importance of focusing on internal time frame and price action in determining market direction.
32:52
Waiting for market validation and structure formation before forming a bias is crucial.
Significance of rebalancing, hunting liquidity, and generating liquidity to build structure and manipulation.
Current market conditions suggest a lack of price efficiency to go higher, potentially leading to a move lower.
Advising against fighting the trend and recommending staying bullish until a clear reason for price decline emerges.
Analysis of price accumulation, potential manipulation, and generator building until April.
36:07
Explanation of propulsion block concept based on price movement, with examples of breaker and non-breaker scenarios.
Emphasis on volume balance and bullish order flow for successful trading.
DXY charts analysis predicts a bearish outcome and lower prices.
Weekly charts support the bearish outlook, with a preference for continued price decreases.
Identifying imbalances in trading positions and setting stop points.
41:06
Entering soup trades with stops set at imbalance high or low.
Rejecting trades based on internal liquidity and fair value gaps.
Focus on New York trading session and rare turtle soup occurrences.
Turtle soup described as a form of manipulation, with encouragement for traders to rest and anticipate upcoming sessions.