2022 ICT Mentorship Episode - What Does a Bearish ICT Fair Value Gap Look like
19 important questions on 2022 ICT Mentorship Episode - What Does a Bearish ICT Fair Value Gap Look like
What analogy is used to describe price gaps?
- Rolling paint on a wall
- Creating pockets of porous paint
What is the paint roller analogy describing?
- Rolling paint creates small, porous pockets on the wall
- Algorithim makes market efficient
What is the solution to the problem with the paint analogy?
- Change directions with the roller
- Roll back up the same place
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What does noticing a paradigm in price action involve?
- Identifying market efficiency
- Observing perceptions
- Recognizing characteristics
- Viewing through new perspectives
What analogy is used to explain seeing the matrix in price action?
- Comparing to binary code: ones and zeros
- Similar to paint application
- Like drawing down with a roller
How many candles between the first and the high are mentioned?
- 42 candles between
- Continuous sell offers
- Balancing inefficiencies
What should you look for when prices rise and break down?
- Patterns of 10 formations
- Fair value gap
- Previous highs and breakdowns
Describe the logic behind not engaging above the high.
- Simple logic
- Looks for price treatment and breaks
- Relies on past price activities
What marks the saving grace or key pattern to look for?
- Smart money seeking stops
- Immediate engagement
- Mark limit orders based on these
Where is the number two candle in relation to gaps?
- Number two candle is at gap resistance
- Offers the upper end
What role does the number three candle play?
- Gives the lower end
- Defines the low of candle number one
How is the fair value gap determined?
- Upper end: Low of candle one
- Lower end: High of candle three
- Higher than low of candle one
Where should you place a limit order?
- Candle number three's high
- 17:23 above
- Indicates fair value
How should you approach placing your limit order according to the text?
- Keep it simple
- Don't guess
- Use provided timing
Where do you place your stop according to the instructions?
- Above candle number one
- Alternatively, above candle number two
Why might the range seem large to new traders?
- New learning process
- Need to adjust
- Assumed they are all brand new
What do experienced traders reportedly know that new traders don't?
- Reducing the stop
- Lessening the need for a large range
What does the instructor encourage before moving to the demo?
- Practice extensively
- Conduct much backtesting
- Trust the necessity
What market concept is said to be understood with practice?
- Bearish market structure shift
- Requires prior practice
- Important learning goal
The question on the page originate from the summary of the following study material:
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