Intermediate Term High / Intermediate Term Low
Also: ITH, ITL, intermediate term high, intermediate term low, enemy term high, enemy term low
An Intermediate Term High (ITH) is a swing high that forms at the point where an imbalance (fair value gap or liquidity void) is rebalanced — i.e., price has rallied into an FVG, filled it, and then reversed lower from that level. The swing high created at the point of rebalancing is the Intermediate Term High. Symmetrically, an Intermediate Term Low (ITL) is the swing low formed when price drops into an FVG, fills it, and then reverses higher from that level. Crucially, once an ITH or ITL is formed, it SHOULD NOT be violated if the higher-timeframe directional bias remains intact. If price returns to take out the ITH/ITL, that is a signal the trade thesis may be wrong. ICT describes this as "never taught before" in Ep 12, positioning it as an advanced application of market structure specifically for precision technicians working the algorithmic model. An ITH or ITL sits within the hierarchy: Long Term High/Low > Intermediate Term High/Low > Short Term High/Low.
Identification6
- Identify an open FVG (imbalance) — either a bullish or bearish fair value gap that has not yet been rebalanced.
- Wait for price to trade into that FVG and fill it (rebalance the imbalance).
- The swing high formed at the point of rebalancing (price enters the FVG then reverses lower) = Intermediate Term High.
- The swing low formed at the point of rebalancing (price enters the FVG then reverses higher) = Intermediate Term Low.
- Structural hierarchy: Short Term High/Low is a 3-candle swing; Intermediate Term High/Low is anchored to an FVG rebalancing event; Long Term High/Low is anchored to higher timeframe (daily/weekly) structure.
- An intermediate term low on the lower timeframe (e.g., 5m) corresponds to the point where a higher timeframe structure is being built.
Entry3
- Not a direct entry level — the ITH/ITL is a structural reference used for trade management and confirmation.
- When an ITL forms (price fills a bullish FVG and reverses), that creates an intermediate term low — price should not return below it; enter long on the next valid intraday setup above the ITL.
- When an ITH forms (price fills a bearish FVG and reverses), enter short on the next valid intraday setup below the ITH.
Stop2
- Trailing stop reference: once an ITL is established (bullish scenario), the stop can be trailed below the ITL — price should not violate it if bullish bias is intact.
- Ep 13 explicitly: 'This becomes the intermediate term low. This low should not be taken out once it starts rallying — it should not come back down here.'
Target2
- Target is the draw on liquidity identified from the higher timeframe — old highs (buy-side) for bullish trades from ITL; old lows (sell-side) for bearish trades from ITH.
- In Ep 12: target is identified by anchoring a Fibonacci from the Intermediate Term High to the Long Term Low and projecting to the -1 standard deviation level.
Invalidation3
- The ITH is taken out (price trades above the ITH) when bearish bias is active — this signals a potential thesis error.
- The ITL is taken out (price trades below the ITL) when bullish bias is active — this signals a potential thesis error.
- If violated, the trade should be reassessed and the stop-loss should trigger.
Inferred Conditions (Unvalidated)
- The ITH/ITL concept nests inside the Short Term / Long Term hierarchy — when a short-term high forms at the point of an FVG rebalancing, it is elevated to intermediate term status.
- Down-close candles (bullish scenario) should support price above the ITL — any retracement into down-close candles that does not break the ITL is an opportunity to add to long positions (Ep 13).
- The intermediate term low is protected by the rule that bullish order flow means down-close candles act as support — as long as the market holds above the down-close candles that formed the ITL area, the intermediate low is intact.
ICT Quotes
"This becomes the intermediate term low. This low should not be taken out once it starts rallying. It should not come back down here."
"Intermediate term high formed when an imbalance is rebalanced — that swing high created at the point of rebalancing is the intermediate term high and it should not be violated if the bias holds."
"How do I classify this swing high — is it the intermediate term high versus the short term high in the long term? How? How does he know? Right? That's the part you're never going to get."
Timeframes
Version History3 versions
ICT YT - 2022-02-25 - ICT Mentorship 2022 Episode 12.srt
""Intermediate term high formed when an imbalance is rebalanced. That swing high should not be violated if the bias holds. Never taught before.""
Brand new concept introduced in the 2022 mentorship (ICT explicitly states "never taught before"). Defines the three-tier hierarchy: Long Term > Intermediate Term > Short Term High/Low. The Intermediate Term level is specifically anchored to FVG rebalancing events, distinguishing it from ordinary short-term swings. Advanced application: Fibonacci anchor from Intermediate Term High to Long Term Low projects the -1 standard deviation target.
ICT YT - 2025-09-24 - Focus On Index Futures - Intermediate Term High September 23 2025.srt
""intermediate term high is any high that has two lower short term highs to the right, left of it.""
Refined structural definition attributing the rule to Larry Williams market structure classification: an Intermediate Term High is any swing high that has two LOWER short-term highs on BOTH sides (to the left AND to the right of it). This is a retrospective, pattern-based definition distinct from the 2022 FVG-rebalancing definition — it does NOT require an FVG fill; it only requires observing that two lower swing highs flank the candidate high on each side. This is described as Larry Williams' original market structure definition that ICT adopted. Key behavioral context: parabolic/blow-off price action with no retracement to prior open inefficiencies (FVGs not being filled on the way up) signals a likely intermediate term high forming. The first presented FVG on the way down and a shift in market structure on the lower timeframe are used to confirm the ITH and establish entries.
ICT YT - 2025-09-25 - Focus On Index Futures - Intermediate Term High Continued September 24 2025.srt
""use the wick that price is actively respecting; plot both and observe which one price responds to.""
Wick selection refinement in context of ITH analysis: when multiple wicks exist near a high cluster, plot both reference wicks and observe which one price is actively respecting in real time. This avoids premature commitment to a single wick level. Also clarifies the relationship between ITH formation and FVG character changes: after the ITH is established and price begins declining, bullish FVGs on the way down that get broken through can flip to inversion FVGs (first presented FVG behavior), confirming the bearish continuation and ITH structural integrity.
Notes
ICT described this concept in Ep 12 as "never taught before" and as an "advanced market structure" concept for "precision technicians." He explicitly says most YouTube students won't be able to classify swings this way without extensive study — he created simpler language (FVG + MSS) that accomplishes the same practical result without needing the full ITH/ITL framework. The three-tier hierarchy (Long Term / Intermediate Term / Short Term) mirrors the classic Dow Theory classification but is defined mechanically by price behavior (FVG rebalancing, not arbitrary lookback periods). In Ep 13, ICT demonstrates live application: after filling an FVG, the resulting low becomes the intermediate term low, and the stop is trailed to below that level. Down-close candles on the hourly chart provide the support structure above the ITL. See also: short-term-high-low.yaml, fair-value-gap.yaml, displacement.yaml
Asymmetry Notes
Symmetrical. ITH forms at bearish FVG rebalancing (price fills a bearish FVG then drops). ITL forms at bullish FVG rebalancing (price fills a bullish FVG then rallies). The violation rule applies symmetrically — do not let the ITH be taken out in a bearish trade; do not let the ITL be taken out in a bullish trade.