ICT Forex - The ICT New York Killzone

Summary

Highlights

• Discover the magic window from 7:00 AM to 9:00 AM New York time for capturing those pips! 🕒
• It's about strategic study, not just daily trading; let those charts speak to you! 📈
• Master the art of patience and pattern recognition to excel in the forex game. 🎯

Key Takeaways

• Utilize the optimal trading window from 7:00 AM to 9:00 AM for effective forex trading during the New York session! ⏰
• Don’t rush to trade daily; focus on studying chart patterns to refine your strategy and get those pips! 📊
• Experience and pattern recognition are crucial in mastering the art of forex trading. 🎨

Overview

Chapters

• 00:00 - 00:30: Introduction to ICT New York Killzone The chapter introduces the ICT New York Killzone, emphasizing the significance of time and price within this framework. The reader will explore the ICT concepts that are central to understanding and utilizing the New York Killzone effectively.
• 00:30 - 01:00: New York Session Characteristics The chapter titled 'New York Session Characteristics' discusses the key features of the New York trading session. It emphasizes the significance of the New York open, particularly when trading major currency pairs linked to the dollar index. The session often presents an optimal trade entry pattern capable of yielding 20 to 30 pips.
• 01:00 - 01:30: Optimal Trade Entry Patterns This chapter discusses optimal trade entry patterns, specifically focusing on scalp trades. It emphasizes the importance of monitoring certain timeframes, particularly from 7:00 a.m. to 9:00 a.m. New York time, which is termed as the ICT New York open kill zone. The idea is that during these hours, traders can consistently find setups that offer opportunities for gaining 20 to 30 pips, especially when analyzing major currency pairs against the dollar index.
• 01:30 - 02:00: Scalping Opportunities In this chapter titled 'Scalping Opportunities,' the speaker emphasizes the importance of viewing daily trade opportunities as chances for study rather than immediate action. They point out that while the market may offer 20 to 30 pips every weekday, this should not be taken as encouragement to trade with live funds daily. The focus is on learning and understanding the market rather than expecting to gain substantial profits, such as 100 pips, every trading day.
• 02:00 - 02:30: Weekly Trading Objectives The chapter focuses on setting weekly trading objectives for forex trading. It discusses aiming for specific pip gains each week, such as 150 pips, with a personal goal of 50 to 75 pips weekly. The chapter highlights the opportunities to achieve these goals by utilizing trading strategies related to the London Open, Asian Open, and New York Open, presenting three daily trading opportunities to meet weekly objectives with high probability.
• 02:30 - 03:00: The Role of New York Open In this chapter titled 'The Role of New York Open,' the speaker discusses their trading strategy focusing on the weekly range, often targeting a 'one shot one kill' approach during the London open. However, if they miss their weekly objective or make errors, they utilize the New York open to mitigate any mistakes. The emphasis is on starting the week with a clear focus on achieving their trading goals.
• 03:00 - 03:30: Monitoring Major Currency Pairs The chapter discusses strategies for trading major currency pairs, particularly focusing on the early days of the week: Monday, Tuesday, and Wednesday. The trader explains their approach to managing trades, including taking opportunities during the New York open to secure small scalps, especially if certain objectives for the week seem achievable. By engaging in these trades, the trader aims to accumulate small gains totaling 50 to 75 pips, providing confidence in their trading objectives.
• 03:30 - 04:00: Hindsight Analysis In the chapter titled 'Hindsight Analysis', the author discusses the predictability of currency movements, particularly in relation to New York's trading hours. The author suggests that every major currency pair offers a setup between 7 a.m. and 9 a.m. New York time, which is considered the easiest time to trade. However, the author emphasizes the importance of independent verification by encouraging readers to analyze the charts themselves to observe these patterns firsthand. This chapter is more of a guidance for traders rather than a direct invitation to trade based on the provided advice.
• 04:00 - 04:30: Economic News Releases The chapter titled 'Economic News Releases' discusses the overlap between the London and New York trading sessions. The chapter highlights a case study involving the Australian dollar pair, emphasizing the opportunity for optimal trade entry when the New York markets open. It describes a strategy that utilizes the 'London low' and 'initial daily high' elements for effective trading decisions.
• 04:30 - 05:00: New York Session Dynamics This chapter explores the dynamics of the New York trading session, focusing on the concept of retracement followed by expansion, which often sets the high of the day. The discussion is framed in relation to the London session's low. It highlights the important time window between 7 and 9 AM for observing retracement and subsequent market rally. Additionally, the chapter elaborates on various elements that contribute to making this market setup successful.
• 05:00 - 05:30: Fractal Patterns in Trading Sessions In this chapter titled 'Fractal Patterns in Trading Sessions', the speaker discusses the ability to identify trading patterns, emphasizing that while it's simple to recognize them in hindsight, learning to observe them in real-time comes with experience. The speaker mentions that not all trading conditions are covered in free tutorials, inviting interested individuals to join an internship for more comprehensive learning. However, valuable insights can still be gained from available free resources. The main takeaway is to practice identifying these fractal patterns, starting with observations made around seven o'clock.
• 05:30 - 06:00: Using Past Lows for Long Opportunities The chapter discusses using past lows for identifying long (buy) opportunities in currency trading. It specifically suggests monitoring dollar crosses—currency pairs that include the U.S. dollar—between 7:00 AM and 9:00 AM, Monday through Friday. This timeframe often presents repeating patterns that can be observed after market close as well, offering potential insights even if one cannot trade live at that time. However, it notes that not every currency pair will present a setup every day.
• 06:00 - 06:30: Continuation and Reversal Scenarios New York and London markets often have setups in major currency pairs, particularly those involving the dollar. Market movements can reverse, providing opportunities in both directions. For instance, the Asian session might set a swing high, while the London opening could create a high point for selling.
• 06:30 - 07:00: Daily Bias and Market Direction The chapter discusses daily trading biases and how market direction can be anticipated based on these biases. It emphasizes observing market patterns between 7:00 AM and 9:00 AM New York time, where a specific setup typically forms. The chapter notes that a retracement after the New York open creates a high point, after which the market tends to expand and move lower. The author mentions having personally traded this setup and refers to examples on their Twitter for further study.
• 07:00 - 07:30: Mentorship and Learning This chapter discusses the impact of economic news releases during the New York session on price action, describing how these releases can sometimes make the market predictable, cause reversals or amplify existing trends.
• 07:30 - 08:00: Trading with Daily Bias The chapter titled 'Trading with Daily Bias' explores the New York trading session's actual hours, emphasizing that it extends from the open until 2:00 p.m. (New York time). The example discussed in the transcript involves a dollar CAD chart, where specific time points between the New York open and 2:00 p.m. are crucial for understanding market movements. The concept of 'kill zones' and the fractal nature of market behavior are also highlighted, suggesting that these patterns are important for determining daily trading biases.
• 08:00 - 08:30: Intraday Dynamics and Expectations The chapter titled 'Intraday Dynamics and Expectations' discusses the pattern of market dynamics within a day, using the concept of 'power of three' or 'PO3'. It explains how this pattern can be observed daily through the opening decline, the expansion to a new high, and the closing that resembles certain fractal patterns, particularly evident in the New York session. This pattern is characterized by the market first moving towards a low, expanding to reach a high, and concluding by settling from the high. The chapter emphasizes the repetition of this fractal pattern, highlighting its application to individual market analysis.
• 08:30 - 09:00: Optimal Trade Entry Patterns in Detail The chapter delves into optimal trade entry patterns, highlighting the significance of understanding underlying models and expectations that influence price movements during trading sessions. The focus is on the practical application of these concepts, utilizing previous day's lows and session lows for identifying retracement points and making informed trade entries.
• 09:00 - 09:30: Final Thoughts and Learning Resources The chapter titled 'Final Thoughts and Learning Resources' discusses the characteristics of the New York trading session. It highlights two potential scenarios that traders might observe: a continuation of London’s move or a complete reversal of the daily direction. The focus, however, is not on teaching market reversals.

ICT Forex - The ICT New York Killzone Transcription

• 00:00 - 00:30 okay folks welcome back this teaching will be dealing specifically with the ICT New York kills in you okay the New York kills in what ICT concepts are going to be used in this module again the importance of time and price
• 00:30 - 01:00 New York open the New York session and important characteristics of the New York session okay the New York open now the majors that are coupled with the dollar index or the dollar that to me is the ideal pair for this time of day the New York open frequently sets up an optimal trade entry pattern that can offer 20 to 30
• 01:00 - 01:30 pips as a scalp now a key times to monitor our 7:00 a.m. to 9:00 a.m. New York time this is what I refer to as the classic ICT New York open kill zone every single day Monday through Friday I believe that if a trader were to scan through the major that are coupled with the dollar index they would find a set up that would offer 20 to 30 pips I
• 01:30 - 02:00 teach that as a means of inspiring study but not to encourage you to try to trade every single trading day every day there is an opportunity for you to study but that does not mean to go in and try to trade with live funds every single trading day so by having that expectation that 20 to 30 pips exists every single day Monday through Friday that's again not an inspiration for you to go in and inspect expect the 100 pips
• 02:00 - 02:30 to 150 pips a week I look for my personal trading is 50 to 75 pips a week so between what I've shared so far with the London open with the Asian open and now with the New York open you have three opportunities every single trading day to look for an opportunity to get those specific objectives for the week so I know that there's a high probability that I can get my entire
• 02:30 - 03:00 weekly objective in one solid London open if it moves a lot if I do not get it or I do not get a weekly objective which is my one shot one kill where I trade the weekly range because that's really what I'm framing my setup so on but if I miss it or if I get it wrong and I have to mitigate a loss I will use New York to mitigate any mess-ups that I make during the week my focus is at the beginning of the week
• 03:00 - 03:30 because Monday Tuesday and Wednesday if I operate most of my trading most many times all of my trading needs then but if I take a loss or if I miss an opportunity and I still feel confident about the weekly objectives still coming to fruition that means I see a setup that's still viable I will go in and trade in New York open to get those small little scalps to add up to 50 to 75 pips so I'm confident that I can get
• 03:30 - 04:00 20 to 30 pips and in New York open in one of the majors every single day that's my experience speaking that's not an invitation again for you to go in doing it what I'm trying to encourage you to do is go through the charts and see if what I'm saying isn't exactly what you see every single dollar based Cross will give you a set up between 7 a.m. and 9 a.m. New York time it's the easiest time to trade because we have
• 04:00 - 04:30 the luxury of having London over lap and New York and looking at the chart on the right this is a Aussie dollar pair and we can see that right in here delineating being New York open here that sets up the opportunity and the optimal trade entry is seen here London low initial daily high the
• 04:30 - 05:00 retracement then a subsequent expansion creating the high of the day everything framed relative to what is seen on the London low for the body weight for the retracement between 7 o'clock and 9 o'clock in the morning and rally now there's a lot of things that goes along with making this setup
• 05:00 - 05:30 identifiable obviously it's very easy for me to point to these in hindsight but experience has taught me how to see these things by a small sample size of conditions okay not all those conditions are going to be taught to you in my free tutorials so you're welcome to join them an internship you get all the details that are not there but you will get a lot of insights just from the free tutorials for now I want you to just be content with identifying between seven o'clock
• 05:30 - 06:00 and nine o'clock in the morning Monday through Friday on the dollar crosses in other words every pair that's crossed with the dollar if you watch those pairs between 7 o'clock and nine o'clock in the morning and if you have a job or give a business and you can't trade this particular time of day even if you look at it in hindsight in the evening after the market has closed you'll be able to see many examples that repeat themselves every single trading day but again every pair doesn't have a set up every
• 06:00 - 06:30 New York open but every New York open has a set up in one or more of the majors that are crossed with the dollar now everything I say is reversible if you will and we can see the same scenario for the eurodollar we have an opportunity to see both sessions here the Asian session creates a swing high the London open creating a high to sell
• 06:30 - 07:00 short from and then New York open retracement creating a high and it expands and goes lower this particular pair in this day I actually traded this and the examples are shown on my Twitter and you can find that for your own study but for now just understand that between 7 o'clock in the morning and 9 o'clock in the morning New York time there's typically a set up that forms that
• 07:00 - 07:30 offers 20 to 30 pips native New York session the price action during the New York session sees a consistent round of economic news releases now these news releases will many times stimulate price action and sometimes its predictable and other times it's not sometimes these news releases will cause reversals in the marketplace and sometimes they'll add fuel to the fire and/or momentum to an existing daily
• 07:30 - 08:00 bias the New York trading session actually extends beyond the nine o'clock hour and it goes to 2:00 p.m. in New York time you look at the chart here on this dollar cad what i'm doing eating here is those specific time points when new york open begins and 2:00 p.m. in New York again as I shown in the previous session or kill zones everything is fractal so if we see the open here and we're bullish we see it
• 08:00 - 08:30 open a small little decline creating the low of the range expansion high the range and comes off the high and closes just like in power three on the daily candle or bar we can see the New York session creates that same fractal pattern again same scenario here you see open it trades down creating too low the range expands up creates too high the range and comes off too high and closes our three applied to the individual
• 08:30 - 09:00 trading sessions now again there's a lot of things that goes behind the scenes if you will that builds these models or expectations for when price should be doing it the clear and obvious one that I'm going to show you and my free teachings is we have a previous low it rallies trades back down into a retracement for an optimal trade entry between this low this low okay so we can see using previous day's lows to the session low
• 09:00 - 09:30 for New York we can get an opportunity to be long with this scenario the New York session characteristics the New York session typically has two potential scenarios continuation of London's move for a complete reversal on the daily direction now it's not my goal to teach you market reversals because
• 09:30 - 10:00 quite honestly there's a lot of things that are required to do that but there are some things in the tutorials that will help you but it's not going to be complete science because it takes a lot of information and a lot of teachings it's a supplement there's conditions and even then it's not going to be clear to you experience is going to be the the the teacher if you will but the continuation of the London move I believe is the easiest and that's why I taught in my free tutorials that
• 10:00 - 10:30 approach so when the daily chart is in a clear one-sided momentum it is easiest to look with confirmation of that direction in the London price action for example if London agrees with the daily chart being bullish that means we should be seeing a low form in London we would anticipate a retracement lower into New York open and in agreement with that daily bias so we would anticipate a New York low to post a continuation setup or
• 10:30 - 11:00 optimal trade entry by again reversals are they require a lot more things that I can't teach in just one video there's so many things that goes into that and if you go through access my old teachings all free tutorials there's a lot of emphasis focusing on higher timeframe higher time frame high time cream now there are times as a well experienced trader
• 11:00 - 11:30 that's been doing a long time like myself I can trade any timeframe and I can also look for reversals that would go contrary to the higher time frame direction you as a developing trader may not have that diversity yet but you'll have that over time experiences the teacher in that now I give a lot of details about that in a mentorship but you don't have to have that okay you don't need that if you get accustomed to
• 11:30 - 12:00 trading continuations and trading an agreement with the daily bias and only taking those setups you will have the best setups because sometimes the reversal patterns sometimes they're great and they pay out a lot and there's big movements and pips other times it's not so much and they can be rather disappointing so it's much easier for us to see the daily bias on the daily chart where that momentum is and trade in that
• 12:00 - 12:30 direction because that's gonna be the most likely expansion or the most likely side of the market place to be on where the big moves are going to occur again there's going to be shocks and retracements all the time they come in and marketplace that are either inspected or unexpected in the form of reversals okay or deep retracements they're not necessary they're very exciting sometimes real quick one day or intraday declines or rallies to retrace to another optimal trade entry sell
• 12:30 - 13:00 something like that try to convince yourself that it's much easier to trade with the daily bias and to look for your daily ranges to expand in that direction you're going to see folks online that are going to be showing a lot of trades they may have may not take in they they may not actually have any you know any horse in the race if you will there's it's just them talking about something that's already happened
• 13:00 - 13:30 try to just keep your focus on looking for scenarios in the New York open that are an agreement with the daily so if the deal is bullish we're looking for the one in the create low and then at seven o'clock in the morning we're gonna be looking for some measure of a retracement lower then we'll be seeing or anticipating rather a optimal trade entry to go long at the New York Open and anticipate expansion on the upside on the daily range where we would expect that range expansion for power three for
• 13:30 - 14:00 the daily bar our daily candle that's what we're looking for that dynamic imbalance I have an example that here on the dollar cad we have a London low form and we can see that the market did in fact come back from this low to this high it retraced rather deeply here optimal trade entry long here then price rallies away and
• 14:00 - 14:30 then we have a retracement lower in New York open and several things in here there's optimal trade entry and there's also a rung on liquidity we have equal lows in here and a bullish market the mark comes down into New York open takes those stops out and then rallies so that would be one scenario we can look at here and the continuation of the daily range on the upside you're reaching for relative equal highs
• 14:30 - 15:00 luckily progressing well there's highs you see it reaches for that rather handsomely okay so New York open in my opinion and I've been doing this for a very very long time it's so much easier to trade that session because as a built-in advantage and the secret to it is what's going on in London okay if you can arrive at a daily bias on a daily chart and then wait to see if London supports that notion if it's bullish and
• 15:00 - 15:30 London rates are low and we've rallied and then we start declining into New York open it's pretty much a loaded deal you're gonna have a scalp that would offer 20 to 30 pips in New York and if you're new you're probably not going to appreciate that too much but if you have been trading for a while and you just heard me explain that you're going to be rather surprised and tickled when you see how often that unfolds because you have a little bit more experience in reading price and it's going to jump off of the chart at you and then suddenly
• 15:30 - 16:00 going to see a lot of opportunities that otherwise went right over your head so hopefully you found this teaching insightful if you enjoyed it you can find more at the inner circle trader com