2022 ICT Mentorship Episode 37 Explained

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2022 ICT Mentorship Episode 37, uploaded June 3, 2022, teaches a top-down E-mini S&P 500 June contract study for a non-farm payroll session using daily, hourly, 15-minute, five-minute, two-minute, and one-minute charts. ICT derives a bullish bias from a daily fair value gap and breaker, then treats buy-side liquidity above a short-term high as a conditional draw while allowing for a smaller fair value gap below price to be revisited first. The bullish ICT Power of Three sequence is accumulation, manipulation, and distribution, simplified as the open, formation of the day’s low, and a rally. ICT warns that NFP and FOMC sessions can be volatile, choppy, or inactive, advises inexperienced students to observe rather than trade live money, and says students should stop trading by Wednesday’s New York session during such weeks. A five-minute fair value gap above price and an older high are presented as study objectives, not entries, stops, targets, or trade signals. His journaling process records order blocks, fair value gaps, observation time, delay before movement, and time to reach the studied area on an annotated two-minute chart, followed by regular reviews of the prior week and month. The core method is to establish daily context, transfer those levels to lower timeframes, formulate primary and alternative liquidity scenarios, accept that forecasts can fail, and separate educational observation from executable trading plans.

How we researched this article

BestProps used document-based research from primary firm sources, checked September 17, 2026. The complete source list, scope, limitations, and commercial-state record appear near the end of this article.

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2022 ICT Mentorship Episode 37 Overview

In 2022 ICT Mentorship Episode 37, uploaded June 3, 2022, ICT discusses how he formed a directional expectation for the E-mini S&P 500 June contract while preparing for a non-farm payroll session. The lesson connects daily-chart context with hourly, 15-minute, five-minute, and two-minute observations.

The episode is not presented as a recommendation to trade the news. ICT repeatedly urges inexperienced students to observe volatile events rather than risk live money. Its broader themes are maintaining higher-timeframe context, identifying a proposed draw on liquidity, recognizing what ICT calls Power of Three, and building a detailed chart journal.

Higher Timeframe Bias in ICT Episode 37

At 0:14, ICT describes price trading into an area he labels both a fair value gap and a breaker. He defines the breaker through a low-high-lower-low sequence and focuses on an intervening high extended forward in time. After the market revisited the area, his interpretation was that price had begun to rally toward nearby buy-side liquidity.

He then explains how he developed a bullish bias from the sequence of daily candles and swing points. Price had advanced from a low, formed a swing low, and moved toward an earlier high. Following a retracement into the daily fair value gap, ICT expected another attempt at a short-term high. This was his market interpretation, not a guaranteed forecast; he expressly acknowledges later that the anticipated liquidity run did not have to occur.

At 2:58, he clarifies that the daily chart supplied the bias. His conditional scenario was that, if price remained above the upper boundary he was monitoring and had not already reached the short-term high by the 8:30 a.m. release, it might attempt to reach that level.

ICT Episode 37 News Risk Lessons

The risk discussion begins at 1:40. ICT says he does not try to speculate on non-farm payroll because those sessions can be volatile, choppy, or unexpectedly inactive. He distinguishes studying price behavior from placing a trade and tells learners not to use live money while they are still learning to read price.

Determine which side of liquidity price appears likely to seek before the release.
Observe the response on one-minute and five-minute charts.
Treat the event as a liquidity study rather than a trade signal.
Accept that the patterns ICT teaches will not always unfold as expected.

At 4:49, he extends this caution to FOMC and non-farm-payroll periods generally. He says newer traders can be harmed quickly when they lack experience with abrupt or irregular movement. His stated practice for students is to stop trading by Wednesday’s New York session during such weeks and spend the remaining sessions observing. That is ICT’s personal risk-management framework, not evidence that every Thursday or Friday has the same market profile.

ICT Episode 37 Daily and Lower Timeframe Levels

At 6:38, ICT moves to the hourly chart. He emphasizes that the displayed levels originated on the daily chart rather than from hourly support-and-resistance analysis. In his reading, price revisited the daily fair value gap, consolidated, produced a bullish market-structure shift, and moved through a short-term high and relative equal highs.

Schematic of the study method described in the lesson. No scale, prices, market data, entry, stop, target, or performance result is depicted.

His next proposed draw was buy-side liquidity above the market, although he explicitly says he could be wrong. He also notes a smaller fair value gap below price that might be revisited first. This illustrates conditional scenario building: identify a primary objective while retaining an alternative path.

ICT Episode 37 Power of Three Context

On the 15-minute chart, beginning around 7:45, ICT describes an open, consolidation, rally, decline into the daily fair value gap, and subsequent advance. At 8:59, he labels the overall daily formation “ICT Power of Three”: accumulation, manipulation, and distribution.

For the bullish version discussed here, his simplified description is an opening phase, formation of the day’s low, and then a rally. His educational point is that a structure visible on a daily candle can become difficult to recognize when represented by many rapidly changing candles on a one- or five-minute chart. He argues that the lower-timeframe action becomes more intelligible when viewed in relation to a previously identified higher-timeframe level.

ICT also discusses a short he says he took during the session, but the transcript alone cannot verify the chart location, order execution, fill, or result. More importantly for the lesson, he says his precision is lower in these conditions and uses that experience to reinforce selective participation rather than constant trading.

ICT Episode 37 Five-Minute Fair Value Gap Study

At approximately 13:13, ICT recounts asking his Twitter audience to locate a five-minute fair value gap above the current market. His expectation was that price might be drawn into that area during or after lunch, with an older high becoming a subsequent objective if price moved above the gap.

He stresses at 16:10 that pointing out the area was not a trade signal. There was no prescribed entry, stop, or target. He frames the exercise as directing students’ attention to a level and asking them to study how price approached it. He also openly states that some observations will be wrong.

ICT Episode 37 Chart Journaling Process

The final major topic begins around 17:47. ICT shows how a student might annotate a two-minute chart after the fact without implying that the arrows represent a real trade. Suggested notes include the order block, the fair value gap, the time of the observation, the delay before movement began, and the approximate time required for price to reach the studied area.

Schematic of the study method described in the lesson. The transcript frames the arrows as study annotations. They do not document a trade entry, exit, or verified result.

At 20:05, he recommends recording factual observations in constructive language and reviewing the prior week and month regularly. His core message is that passively watching lessons is insufficient; students must annotate and revisit charts to practice recognizing the concepts.

Episode 37 Study Process and Key Takeaways

Episode 37 presents a top-down study process: establish context on the daily chart, carry those levels onto lower timeframes, formulate conditional liquidity objectives, and observe how intraday movement behaves around them. Just as importantly, ICT advocates standing aside when conditions fall outside a learner’s experience and separating real-time study prompts from executable trade plans. These are the speaker’s interpretations and study methods, not proof of predictive reliability or profitability.

Research and disclosure

Research basis: Document-based research. Sources checked: September 17, 2026. Freshness: Stale — recheck before relying.

Scope: Independent, transcript-grounded write-up of one public Inner Circle Trader recording, '2022 ICT Mentorship Episode 37' (video HuZurY0ghDI), together with the reference documents the article's own caveats depend on: the publishing channel's watch page for that upload, the channel's public page, the CFTC advisory on commodity trading systems sold on the internet, the SEC Investor.gov glossary entry on day trading, and the Federal Reserve Board FOMC meeting calendar page that one of the article's own risk caveats depends on. The article is limited to what the presenter says in that recording as rendered by the platform's automatic transcript: the daily fair value gap and breaker reading, the bullish bias from the sequence of daily candles, the conditional draw on buy-side liquidity above a short-term high, the alternative smaller fair value gap below price, the caution about non-farm payroll and FOMC sessions with the practice of stopping by Wednesday's New York session in such weeks, the accumulation-manipulation-distribution sequence he names ICT Power of Three, the five-minute fair value gap study objective, and the chart-journaling process. Every rule and level is attributed to him at a cited timestamp.

Direct sources: YouTube: 2022 ICT Mentorship Episode 37 – The Inner Circle Trader (mapped recording; watch page read 2026-09-17: title and channel as above, page-reported upload and publication timestamp 2022-06-02T19:00:13-07:00, video data length 1,450 seconds with a player length field of 24 minutes 10 seconds, isPrivate false, playability status OK, Education category); YouTube: The Inner Circle Trader – official channel page (publishing channel for the 2022 mentorship series used here; read 2026-09-17); CFTC: Fraud Advisory – Commodity Trading Systems Sold on the Internet (read 2026-09-17; states that hypothetical trading results typically are based on simulations using historical price data and calculate what purported trades would have achieved had they been placed); Investor.gov (SEC): Glossary – Day Trading (read 2026-09-17; investor education stating that day trading is extremely risky and can result in substantial financial losses in a very short period of time); Federal Reserve Board: FOMC meeting calendar (primary central-bank page for the FOMC scheduling the article's own caution about those sessions depends on; read 2026-09-17)

Material limitations: Grounded in the platform's automatic caption track for this recording, which is machine generated and mishears several terms; the article flags the passages where a reading was taken from surrounding context rather than from the wording itself, so no spoken quotation is treated as a verbatim transcript. No chart, price scale or annotation visible in the recording was inspected while preparing this article: the fair value gap, breaker, market-structure shift, relative equal highs and the short he says he took are reported as the presenter described them while pointing at his own charts rather than as values checked against an exchange's own data. Those are retrospective teaching illustrations, not verified fills, and nothing here establishes an order ticket, a fill price, a position size, a transaction cost or any result. The one trade mentioned is his own account of it and is not presented as a verified outcome. The recording's watch page is a third-party platform page that can be renamed, re-dated, made private, unlisted or removed at any time, and a third-party embed of this upload was observed to stop at a video player configuration error surface instead of playing, so no player is embedded and no cause is asserted for that surface. The non-farm payroll and FOMC volatility discussion is the presenter's risk framework, not evidence that every such session behaves the same way, and no release calendar, scheduled time or market outcome is verified beyond what each cited publisher page itself states. Nothing here is a tested system, an audited performance record or evidence of repeatable results, and none of it is investment advice. This page does not report first-hand account purchase, trading, support, identity-check, or payout testing.

Commercial state: No active affiliate or sponsor relationship recorded as of July 31, 2026. This record does not describe other commercial relationships.

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