15 Year Old Forex Trader Reads Chart Like a Pro & Reveals His "Golden Zone" Trading System

perfect so we've got Philip bloom here on the show now we've just recorded a about a 35 minute podcast interviewed now this guy is well as Instagram profile says he's the world's youngest profitable forex trader we're gonna see what he's got in store for us here we can definitely tell from the answers that you've been given that this isn't some sort of fallacy this guy is quite phenomenal phenomenal at the age of just 15 so look Philip over to you you're gonna walk us through a price chart and show us what you got yes so here we have just an example as a usd/cad so I'm just going to show the process of how I how I trade so let's start from the daily chart so on the daily or we can even go to the weekly chart I try to identify my area my key levels meaning areas of supply and demand really or supported resistance depending on on what it is so on the weekly timeframe I can identify that our valid you know that are not too too far away is that we have this major area of supply right here and it didn't as you can see in in the past one price touch this this level right here we had a huge sell-off now recently we had a bull run on usd/cad touching this area of supply and we had a huge you know rejection as well now let's take it down to the four hour as a daily is not not nothing to clear on the daily so what I would normally do is identify my trip and my trends and support and resistance area so as you can see here we have a a respected trend respected once twice three times four times yeah on and on so it's a valid trend and we have these sort of areas of support and resistance right here so this is a area of resistance being touched once twice three times four times several times meaning that it is a valid strong level now on the on the underside we have this kind of key level because it was acting on the one hour it was acting has a kind of support right here support wycked support broke through retested several of times making it a valid resistance and then broke through again so this I wouldn't call is neither a support our resistance area I would just call it a key level right so now I I'm gonna go through why I took a trade right here as you can all see we broke this major downtrend to the upside made a retest bass back to not only this key level but my what I call golden zone and I'm sure many of you are familiar with it the 52 61.8% fit level this is what I call this is what I call my golden zone I usually want to have my entries at the 61 but you know depending on if price is showing rejection on the 50 I will also enter so you draw your fib from the lowest low including the wick to the to the highest high or the most recent high so I was definitely looking for buys at this area I did take that I did you take a bite just right here so on the four-hour weekend we can identify we broke the bearish trend to the upside made a retest back to a golden zone and this key level now it's fair to say that we have done we're finished on the 4 hour time frame so let's take it down to the one hourly so on the one hourly we can see you know price was making lower highs and this was not just this was this in my opinion wasn't the ideal area to enter just because we didn't have a clear clear trend yet this this right here wasn't a this was this was immediate right here so when price you know made this made rejected off this key level right here and started making movement to the upside I was sure that we were creating a nice little bullish trend now I don't only use my fibs on the higher time frames because because of this right here so we see that we are clearly respecting this key level right here and we had we had the very high impact news on oil you know oil dropped a negative a couple of days ago so so of course oil the Canadian dollar is correlating with oil therefore I was only bullish at this point on the technical and the fundamental side of things so what do I do to find my entry just around here I pull out my fib level and I mark out where my 61.8% fib is which would be right here let's draw that is golden so this is where I would find my entries we have the double confirmation with the fib levels on two different time frames and then we had the fundamentals coming in you know dumping oil which the Canadian dollar obviously will correlate with that so we find our entry and we write it too FIB take profit levels which is just around here and our stop-loss we usually want to have our stop loss depending if there's any wicks below so if you if you're a little bit of a swing trader you would probably put your stop-loss here at 60 pips below this recent low but you know I I had this trend already forming out and we had this you have these fib levels so I was sure price wasn't price wasn't going to break this area on just beneath these little wicks right here so that was a that was a pretty solid risk/reward ratio of one to four right here having our profit targets at different points so just right here just right here and then just right here take profit one take profit to take profit three and etter you split those up either way there's two ways to do it so either you take three positions on this trade so if you if you calculate that 5% on your account will give you a 1 lot size trade and you have 3 take profit areas you will you know enter each trade with a 3 0.33 lot sizes ok and have the take profits at each ok on each of this area or you can have one position on this whole thing but then you'll have to close out partial profits manually yeah which you can do in the Metatrader app and do you move your stock to break-even at any point yeah so example here we made this higher high we saw some rejections right here you know I always tell say this also that we do want to give the market's room to actually move and to to complete it's it's direction so we saw this a little pullback right here we could we could say that price was retesting this previous previous previous high so we had a small super small retest but then we had a continuation of the upside therefore I would put my take profit just under these wicks right here all right cool yeah all right my stop-loss just yeah brilliant brilliant okay so look that's superb really well done for somebody in the age of 15 this is phenomenal stuff look before we wrap up what's what's the best way for the guys watching to get audio on Instagram my my username is this right here real King 4x that's my name on Instagram cool alright folks well look hit over there after this you can also click the link below the video if you're on youtube or there should be an audio player on this sorry or another YouTube video that you can watch we're gonna get the full interview that we've just recorded with Phillip it's fantastic stuff it's not often well in fact he is the youngest person I've actually ever had on the show so well done for that congratulations guys yeah remember to subscribe to the channel for more videos like this and we'll see you in the next one

Channel: Trading Nut

Views: 1,687,929

Rating: 4.9062762 out of 5

Keywords: Forex trader, forex trading system, fx trading strategy, Fibonacci trading system, Golden Zone trading system, Supply and Demand trading strategy, Fx Key Levels

Id: gYqKaf_OgbU

Length: 10min 41sec (641 seconds)

Published: Tue May 26 2020