The New Type of Fair Value GapApr 04, 2023
"The candle bodies tell the story! The wicks do the damage!"
Hello Aspiring Trader,
Another ICT 2023 Mentorship video, another new concept introduced.
This is a new kind of Fair Value Gap.
See it as reinforcing Fair Value Gap theory.
Much like a breaker or mitigation block is another form of order block.
This is another form of Fair Value Gap.
It's called the Implied Fair Value Gap or IFVG.
Here are the criteria for the Implied FVG:
• Big range candle
• No ordinary gap or FVG is available
• Candles on each side of long wicks that overlap
How to mark out the Implied FVG:
• Find the midpoint or consequent encroachment of each wick
• The space between the 50% mark of each wick is the Implied FVG
• Extend it out in time
The IFVG is best used during highly volatile price action where an FVG is not available.
Now you can mark out this version of the FVG where there are large wicks.
Previously you would have had to find the FVG on the lower time frame or just ignore the price action entirely because we didn't have the tools to utilize this kind of price action.
I hope this helped.
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