Summary:

– Context: ICT (a trading mentor) is on vacation but reviews the week’s market behavior and teaching points, noting some family health matters and that he’s sharing concepts publicly through November.

– Market call and result: He focused bullishly on Nasdaq futures (NQ, symbol nqm2023) because a weekly “gap” (liquidity void) existed. He identified key weekly levels (gap high ~13,480.75 and gap low ~13,453.00). Price reached and respected those zones, then showed an “immediate rebalance” (a quick repricing signature at the 10:00 AM candle on May 12) that preceded a fast decline to the new-week opening-gap low (~13,310.50).

– Key concepts taught
– Fair Value Gaps (FVGs), weekly gaps, order blocks and how to mark them on weekly/daily/hourly charts to anticipate liquidity targets.
– “Immediate rebalance”: when price reprices quickly to a prior level and signals algorithmic/spooled one‑sided movement — a high-probability signature for aggressive delivery.
– Relative strength / “Sick Sister” concept: compare closely correlated markets (NQ, ES, Dow). Trade the market showing strength (or weakness) relative to peers.
– Precision matters: expect small variances (ticks) but use exact price/time references; annotate your charts and backtest.

– Trading guidance and risk management
– Don’t trade CPI or other high-impact events from the wrong side; don’t rely on sound bites — read the full context.
– Use scaled profits and partials while learning; experienced setups (immediate rebalance) may justify no partials, but novices should take partials.
– Backtest, trade slowly, preserve capital, and build skill before using real/live or funded accounts. If confused, step away and restart study/practice.
– Avoid copying trades blindly, chasing clout, or publicizing trades to the mentor (he discourages tweeting him results).

– Mindset and mentoring
– Trading success is incremental, requires discipline, self-awareness, and time. Identify personal strengths/weaknesses; don’t expect shortcuts from social media educators.
– Markets are currently subdued (institutional cash on the sidelines); be patient and adapt to lower-volatility regimes.
– He encourages independence: learn to analyze and execute on your own, not depend on signals.

– Practical notes: He will post a tweet about a funded-challenge pick and urges students to do the chart work he prescribes (draw rectangles for FVGs, compare timeframes).

Quiz

1) Which three indices did ICT say you only need to watch comparatively for relative strength analysis (the “indices” to compare)?
A. Russell 2000, NASDAQ 100, FTSE 100
B. S&P 500, NASDAQ 100, Dow 30
C. NASDAQ 100, Nikkei 225, DAX
D. S&P 400, Dow 30, Russell 2000

2) What was ICT’s guidance about taking partials when an “immediate rebalance” signature forms?
A. Always take partials immediately
B. Do not take partials on an immediate rebalance
C. Take partials only if the market is Nasdaq
D. Take partials only if the fair value gap is unfilled

Answer Key with evidence

1) B — S&P 500, NASDAQ 100, Dow 30
Evidence: “when we’re talking about indices we’re talking about S P 500 NASDAQ 100 and the Dow 30.” (transcript, around 0:17:04–0:17:14)

2) B — Do not take partials on an immediate rebalance
Evidence: “immediate rebalance … you do not take [expletive] partials … you don’t take partials on immediate rebalance” (transcript, around 0:53:06–0:53:14). Additional context: ICT defines the immediate rebalance around the 10:00am May 12, 2023 candle and explains it signals sudden one‑sided delivery, which is why partials should not be taken (transcript discussion on immediate rebalance and the 10am May 12th candle, around 0:40:59–0:41:40 and 0:53:06–0:53:14).