The UNFAIR Fibonacci Trading Strategy (THE ENDGAME)

[Music] hey guys welcome back to another episode in this video we will be showing you the number one trading strategy that combines fibonacci with price action this will be the most important trading video you will ever watch as we'll be covering concepts you won't find anywhere else online whether you trade stocks options cryptos or currencies this price action video is essential for all traders of all asset classes we're also going to go through the massive bitcoin and crypto trade our members and us gained on using this exact strategy so that you can do it yourself now if you want us to release more videos more often please click the like button subscribe and turn on the notifications bell so that you know exactly when we release new content now here's a quick breakdown of what we will be covering in this video [Music] so let's get right into it [Music] a topic we get asked to cover almost daily is how to use fibonacci in trading as you already know we always read the comments to decide what topics to cover next so right now go to the comments section and tell us exactly what topic you want us to cover next when we say fibonacci we are referring to the fibonacci tool and fibonacci levels so why is the fibonacci tool and fibonacci levels important to use and understand the fibonacci tool provides you with trade entry opportunities at areas of value during a moving trend as fibonacci levels can act as a form of key support and resistance and as you should know by now support and resistance levels are areas where price has a high chance of reacting to or reversing from all which again create high quality trade entry opportunities for you let's now access the fibonacci tool to access the fibonacci retracement tool click this button here on the left scroll down and click fib retracement right here now to use it click on the chart drag the tool upwards and then click again to lock it in then to the right your fibonacci retracement levels will appear now these levels are important because they are the most widely used fib levels by traders and represent areas of value within a moving trend so let's go through how to apply the fibonacci tool right on the charts let's say you're analyzing this current moving up trend you have your run pull back run pull back run as you already know an uptrend makes higher highs and higher lows so if you are analyzing this run here and want to apply the fib tool to find areas of value to enter trays long at here's how it works you grab your fib tool click where the swing low is at the bottom of the wick drag the tool to the top of the moving trend and where the swing high is you will then see the fib level percentages appear to the right if price were to pull back to the 50 level this would represent a pullback of 50 percent from the recent swing high here and if price were to pull back to the 61.8 level this would represent a pullback of 61.8 percent from the recent swing high here so let's show this in the opposite direction and in a downtrend you have your run pull back run pull back run as you already know a downtrend makes lower highs and lower lows so if you are analyzing this run here and want to apply the fib tool to find areas of value to enter trades short at here's how it works you grab your fib tool click where the swing high is at the top of the wick drag the tool to the bottom of the moving trend and where the swing low is you will then see the fib level percentages appear here to the right if price were to pull back to the 50 level this would represent a pullback of 50 from the recent swing low here and if price were to pull back to the 61.8 percent level this would represent a pullback of 61.8 percent from the recent swing low here now how do average traders traditionally use fibonacci to enter trades so in an uptrend when price pulls back to these fib levels traders will enter trades long when price hits these fib retracement levels because fibonacci levels act as a form of support in an uptrend and again support levels are areas where price can potentially bounce and reverse from going the other way in a downtrend when price pulls back to these fib levels traders will enter trades short when price hits these fibonacci retracement levels because fibonacci levels act as a form of resistance in a downtrend and again resistance levels are areas where price can potentially bounce and reverse from now let's get into the psychology of fibonacci and why fibonacci levels work so the first reason fibonacci levels work is because of herd mentality or what can be deemed a self-fulfilling prophecy a lot of traders subscribe to these fib levels in order to identify trade opportunities to be more specific the school of fibonacci traders who look to take action at fib levels adds additional confluence to areas you are already watching for trade opportunities and we'll dive deeper into this in the next section and the second reason fibonacci levels work is because fibonacci levels actually represent areas of value during a moving trend or more specifically you're getting in at a better price relative to where price has already been [Music] [Music] so how do we use fibonacci as part of our trading first let's go through the exact fib levels we use and the quality of the different fibonacci levels first the 50 or 0.5 fib level this is a great quality fib level as it represents a deep pullback during a moving trend as a quick note even though we say level you should treat it as an area like all things second the area between 50 fib and 61.8 fib this is again a great quality fib area as it represents a deep pullback during a moving trend and third the 61.8 percent or 0.618 fib level this is the best and highest quality fib level because it represents a very deep pullback and best area of value during a moving trend [Music] now there is a problem that lies with using fibonacci levels the traditional way when price pulls back to a fib level a trader subscribes to using they will enter a trade instantly once price hits the fibonacci level as they expect price to reverse now the problem with using fib this way is that you're assuming that price will reverse solely because it is at a fib level and not take into account the multitude of other moving parts within a noisy and imperfect market fibonacci levels do indeed work as support and resistance levels but fibonacci levels on their own isn't enough so this then leads us back to the main question we get asked which is how do we use fibonacci as part of our trading process where it actually helps here is the exact formula we use we combine fibonacci levels with key levels of support and resistance or areas of confluence two increase trade quality now this is a stacked statement so let's break it down starting with combining fibonacci levels with key levels of support and resistance to increase trade quality first let's quickly recap what key levels of support and resistance is key levels of support and resistance are levels where price has reacted to bounced from or reversed from in the past this matters because if price reacted to these levels in the past there is a chance that price will react to them again in the future meaning possible trade opportunities arise at these levels now back to the first way we use fibonacci which is combining fibonacci levels with key levels of support and resistance to increase trade quality so let's do this right on the charts but from our perspective at every step you had your key level of resistance here so you would have had it drawn in and extended out in case price reacted to it again in the future after price broke out this key resistance level then becomes new support which means if price approaches this level there are possible trade opportunities long so how do we increase the trade quality of this trade opportunity this is where the fib tool comes into play with the fib tool click at the swing low here drag it up to the recent swing high and look at that the trade opportunity you identified is also right at the 61.8 percent fib retracement level which is a very high quality fib level as it represents a very deep pullback within the moving trend and a great area of value to get in at so the combination of a key support level with a key fib level increases the quality of the trade opportunity instead of taking a trade with only a support level now as price approached this level of support you had no idea whether there would be a reaction to the level or not you needed to wait for price action through candlestick formations at the area to show that prices indeed reacting to the level this time around so when price reached the level you had exactly that which was a candle with a long wick sticking out which shows a reaction to the level and confirms the trade opportunity long so let's build on this and move on to the next way we use fibonacci which is combining fibonacci levels with areas of confluence to increase trade quality so first areas of confluence are areas where multiple schools of traders are stacked and looking to take action which presents trade opportunities these trade opportunities at these areas of confluence where many schools of traders are stacked have a higher probability of going in your favor due to many traders taking action at the same time which creates momentum for the trade this here is where the short trade opportunity occurred as it is an area of confluence and access point so let's break it down first you would have identified this as a clear moving downtrend as price is making lower highs and lower lows so you want to trade with the moving downtrend you add your key level of resistance here because of this reversal point you have your trend line here and because it crosses with the resistance level it makes it an area of confluence you then have your moving average here notice how it intersects perfectly at the access point and area of confluence so to increase the quality of the trade we grab the fib tool click at the swing high here drag it down to the recent swing low and look at that the trade opportunity you identified at the area of confluence is also at the 50 fib retracement level so when price reached the level you had multiple longwood candles sticking out and failing to break through which shows a reaction to the area of confluence and confirms the trade opportunity short so why is this a high quality short trade at this area of confluence you had support and resistance traders looking to enter short you had trend line traders looking to enter short moving average traders looking to enter short trend traders looking to enter short candlestick and price action traders looking to enter short confluence traders looking to enter short and then also you had fibonacci traders looking to enter short all these schools of traders stacked at the area of confluence looking to take action and in this case take action and enter short trades increases the chances of the trade going in your favor which means it is a high quality short trade entry before we get into the strategies section there is one topic and foundational trading ideology you must learn first it is the concept of trade quality without fully understanding trade quality your trading journey ends here and you will always be at a huge disadvantage this is the most important training lesson you will ever learn [Music] [Music] so before we continue at our office stored on our servers we have a series of advanced high quality trading videos already completed ready to be uploaded to youtube now the only way we'll release them is if enough of you do the following first hit the thumbs up button on this video second hit the subscribe button third hit the notifications bell fourth leave a comment below with exactly what video topics you want us to cover and five the most important one go follow our instagram page which is wise trade the link is also in the description below this video [Music] all right let's get back into it so what is trade quality exactly any attributes and factors that influence the chances of success of a trade opportunity you have identified meaning you shouldn't look at trading as taking right or wrong trades but you should look at trading as taking low quality trades versus high quality trades so how do we increase the quality of a trade simple the more you learn and understand about price action the more high quality traits you can identify the more high quality traits means the higher the probability it will go in your favor but more importantly go in your favor with true momentum and distance so that you can actually make a good return on the trade so here it is the most important part we're now going to go through a list of high quality traits the more you have from this list within a trading opportunity you have identified the higher the trade quality every example in this video will be coming back to reference this list first trend trading are you trading with the moving trend in an uptrend you would want to look for long trade entries to move with the flow of the upwards market pressure in a downtrend you want to look for short trade entries to move with the flow of the moving downwards market pressure next break breakout momentum are you trading with heavy breakout momentum so what you do is you identify a key level of support or resistance where price tried multiple times to break through and failed then price finally broke through the level showing the heavy bullish momentum and heavy buying presence that entered the market so from a price action perspective for price to be able to break such a key level that held multiple times there needed to be heavy momentum that entered the market so what you want to do is trade with the heavy bullish momentum and buying presents so that you can ride the wave next a fresh trend versus trend exhaustion are you getting into a trade at the start of a reversal and a fresh trend where price has legs and room to move fresh trends and fresh reversals are powerful because you can capture a larger portion of the move as you are getting in early and at the start in contrast when you enter trades after the trend has already moved significantly the trend might suffer from trend exhaustion and if enough people start taking profit it can trigger a larger reversal next using the higher time frames things you find on the higher time frames hold more weight when we say higher time frames we are referring to the monthly and weekly time frame specifically so what exactly is things you find it can be key levels price movement price patterns or any form of price action that is visible on the higher time frames that influences your directional bias price action takes longer to form on the higher time frames but as a result it gives you a more accurate depiction of where price is headed and of what the market is actually doing next multi-time frame usage and time frame confluence do you have time frame confluence meaning using multiple time frames that give you the same directional bias we'll cover this in an upcoming video next divergence remember in our previous video divergences can be very effective engaging possible reversals of price and reversals of the trend so here is a chart we showed you in our last video showing the different qualities and types of divergences we look for again reference our last video on rsi where we cover divergences in depth next fibonacci retracement levels are you at a fib level and if so which fib level are you combining fibonacci levels with key levels of support and resistance with areas of confluence next trend lines do you have a trend line that also lines up with where your trade entry is do you have a trendline break that signals a trend change next moving averages does the moving average line up perfectly with your trade opportunity in area of confluence which moving average is it certain moving averages work better for specific time frames next areas of confluence are you at an area of confluence and if so how many traits are stacked at the area of confluence the more that are stacked together at the access point means the higher the quality of the area of confluence next candlestick patterns do you have a candlestick pattern forming and if so what kind do you have multiple candlestick patterns stacked together is the candlestick pattern forming at a key level is there price action inside of the candlestick on the lower time frame next chart patterns do you have chart patterns forming do you have patterns that show a trend continuation do you have patterns that show a trend reversal now chart patterns is a very very in-depth topic that we'll cover in a future video now a final branch trait that is very important support and resistance quality traits so not all levels of support and resistance are the same meaning you need to also gauge the quality of an sr level the higher the quality of the support or resistance level the higher the probability that price will actually react to the level of support or resistance this is very key now here are the key traits to look for when gauging the quality of an sr level first found on the higher time frames sr levels found on the higher time frames specifically the monthly and weekly are the most key levels found on means actually visible on the higher time frames second extreme swing highs or lows meaning the highest and lowest points prices reached in recent time third multiple reactions bounces or reversals from the level and fourth recently formed meaning it was created very close to the left of where price currently is so to recap the more traits from this list stacked together on a trade opportunity you are looking at makes it a very high quality trade there are still a lot of other trade quality traits and concepts we haven't discussed yet which we will introduce in future videos so now that you understand the premise of trait quality and fibonacci let's combine this all together and move into the strategies section [Music] [Music] [Music] now there are multiple parts to the strategy but the core of it is a trend trading strategy so we're going to start simple with combining fibonacci with key levels of support and resistance using only one time frame now every example we go through we will do it through the process of identifying and listing high quality traits this here is where the trade qualities list and counter will appear this here is where the trade opportunity presented itself so let's go to the high quality trades that this trade opportunity had this is the one hour time frame now the first high quality trade you had was a key level so you had it drawn in and extend it out now what quality traits does this key level have multiple reactions through these three reversals and recently formed because the level was created close by directly to the left the second high quality trait you had was heavy bullish momentum so this key resistance level previously held three times before price finally broke through it showing the heavy bullish momentum and buying presents which is required for price to be able to break through such a key level this then means you want to trade with this heavy bullish momentum and heavy buying presence and this is where the trade opportunity long presented itself with the fib tool click at the swing low here drag it up to the recent swing high and notice how the key level is also right at the 61.8 percent fib retracement level which is a very high quality fib level these candles with the wicks sticking out right at the level shows a reaction to the level which then confirms the trade opportunity long all these traits listed make this a high quality long trade opportunity so this was just starting simple let's now take it up a notch and move into combining fibonacci with areas of confluence in this example we're going to go even deeper and explain what should have been going through your mind at every step of the trade this here is where the trade opportunity long presented itself so let's break it down you first identified that this was a clear uptrend through the higher highs and higher lows so you want to trade with the moving uptrend this is a high quality trade next you should have identified your key level of resistance turned to support this is a very high quality level because price reacted to it multiple times and was recently formed another high quality trait you then would have identified that you had heavy bullish momentum because price broke through this very key level of resistance that previously held multiple times and again for price to break such a key level you needed heavy bullish momentum and buying presence and knowing this you want to trade with this bullish momentum another high quality trait as price started pulling back you would have identified your possible trade opportunity long at the key level of support next you had your moving average that crossed perfectly with the key level and trade opportunity another high quality trait next you would have identified that a trend line crossed perfectly with your key level and moving average another high quality trade then you would have checked to see if you were at a fib level as well click at the swing low drag it up to the recent swing high and perfect the 50 fib retracement level also lines up right at the area another high quality trade now the fact that the key level trend line moving average and 50 fib level all intersected perfectly makes this an area of confluence or an area where multiple schools of traders cross and are looking to take action another high quality trade now look at all the high quality traits that are stacked in this trade opportunity these are very high quality trades which means they have a very high chance of success so this part is very important even after all the high quality traits we have identified as price pulled back and approached this area you had no idea whether there would be a reaction to the area or not you needed to wait for price action through candlesticks forming at the area of confluence to show that price and the market is indeed reacting to the area of confluence this time around and that is exactly what you got you had these candles with the wicks sticking out right at the area of confluence which shows a reaction to the area now even after you had candlesticks form and react to the area of confluence you don't instantly enter a trade long you need the final two steps which is one the trend change confirmation pattern and two our key entry and exit strategy and entry tool we'll cover this as we progress through the video so let's show this again so this is the weibo stock many of our members took this exact trade because of how picture-perfect it was this year is where the trade opportunity long occurred so let's break it down first we identified that this was a clear moving uptrend as price was making higher highs and higher lows so you want to trade with the moving trend this was your first high quality trade you then had your key level of resistance turned to support another high quality trade you then had your trend line that crossed perfectly with the key level another high quality trade you then had your moving average that also crossed with the key level and the trend line another high quality trade with the fib tool you click at the recent swing low here drag it to the recent swing high and notice how the 61.8 percent fib level also lines up with your trade opportunity another high quality trade now the trend line key level moving average and fib level all lining up perfectly gives you an area of confluence as price pulled back to the level you had a ton of candles that tried over and over and over again to push lower but failed this all shows a clear reaction to the area of confluence you then need the final two steps again so let's do this one more time this is the air canada stock trade our members took the entry occurred right here so let's break it down first you identified the uptrend so you want to trade with the trend next you identify the key level here the moving average then lined up with your key level and is where the trade opportunity presented itself the trend line also perfectly crosses with your key level and moving average with the fib tool click at the swing low here drag it to the recent swing high the 61.8 percent fib area lines up perfectly this thing gave you an area of confluence making this a high quality long trade opportunity as price pulled back to the area you add a perfect along with candle right at the area of confluence which shows a reaction to the level now this leads us perfectly into our next topic so after you had the candlestick react to your area of confluence you don't enter a trade long instantly and blindly you need the trend change confirmation pattern so let's get right into it now before we continue if you're enjoying this video and want us to release more videos more often please hit the thumbs up button and in the comments below tell us what videos you want us to cover next and any questions you have also go give our instagram page a follow is where the trade opportunity long occurred you first identified a clear uptrend so you want to trade with the trend next you had your key level of resistance turned to support next you had heavy bullish momentum because price broke the key level that previously held multiple times then the moving average crossed with your key level and where the trade opportunity long presented itself with the fib tool swing low to swing high and you have the 50 to 61.8 percent fib zone that lines up with your trade opportunity area this then gave you an area of confluence when price pulled back to this area you had a long wick candle right at the level which shows a reaction to the area of confluence at this point you still don't jump into a long trade instantly this then leads us to the next step required which is the trend change confirmation pattern now why exactly do you need a trend change confirmation pattern what we are going to explain right now is very important to understand your big picture trend is indeed an uptrend and bullish but your immediate trend is a downtrend and bearish meaning there is a conflict in your directional bias or to be more specific the larger trend is telling you to trade long while the short-term trend is telling you to trade short the two trends are telling you to trade in two different directions so what can happen is price can stall at your area of confluence react to it and then break through and continue down and trigger a larger trend change this happens when not enough buyers step in at the area of confluence don't forget that this here is a current moving downtrend which can continue on in its directional path so how do we get around this problem you need this short-term downtrend to turn from bearish to bullish so that this short-term trend matches the direction of the big picture trend now to do this you need to look for a trend change pattern inside of this downtrend that shows a change from a downtrend to an uptrend or from bearish to bullish or to be more specific to signal that the short-term downtrend is over and that the larger uptrend can continue or to be even more specific to confirm that enough buyers actually stepped in at the area of confluence now there are many trend change confirmation patterns we use but to keep it simple for now what you do is you place a trend line onto the immediate trend like this and if you have a trendline break this signals a trend change from a downtrend to an uptrend a change from bearish to bullish and shows that the short term downtrend is over and that the larger uptrend can continue if price doesn't break the trend line and continues down there's no trade because not enough buyers stepped in at the area and it's clear the sellers are in control so after you had that trend change confirmation breakout all things are a go this is when you need the final step of the formula which is to go to the lower intraday time frames and use our key entry and exit strategy and entry tool so this leads us to our next topic what if you cannot place a trendline onto the immediate trend this is why you need to know how to use multi time frames knowing how to use multi-time frames is what separates the amateurs from the pros so before we continue every day we get asked the same two questions how do we design and edit our youtube videos how did we grow our youtube channel so fast if you want to learn how to do this all yourself step by step head on over to our website at wisetrade.com the link is also in the description below so let's start from the top again except now we'll be combining the usage of multi-time frames this is the eight hour time frame and this is where the trade opportunity long occurred first you identified the key level here next you had heavy bullish momentum because price broke the key level that previously held multiple times then the moving average crossed which is where the trade opportunity long presented itself with the fib tool swing low to swing high and the fib zone lines up this then gave you your area of confluence when price pulled back to the area you had a long wick candle with the wick sticking out showing a reaction to the area of confluence so in the last section what we would do is we would put a trend line onto the immediate trend and wait for a break to occur before looking for a trade entry long now the issue with doing this on the current trend is that price movement is too tight meaning you cannot clearly see the swings of price and cannot see the swing highs and swing lows so if you attempted to place a trendline up close and tight to the trend like this you will often be faked out by false breakouts this is a very important point price movement won't always be suitable for you to place a trendline hence why you need to know all the trend change patterns which we will cover in a future video but now for this particular case how do we get around this problem of not being able to place a trendline and here's what you need to do we need to use a lower time frame where we can look inside of this downtrend and be able to see the swings and price movement of this trend and then be able to look for price action that shows a trend change from a downtrend to an uptrend to confirm that the downtrend is over and that the larger uptrend can continue so let's pull up the lower time frame specifically the four hour time frame and put it beside this one so the chart on the left is the eight hour time frame we just looked at meaning every candlestick represents eight hours of time the chart on the right is the same asset but is the one hour time frame meaning every candlestick represents one hour of time here's the key level on the eight hour time frame and here is the same key level on the one hour here's the eight hour pullback downtrend where we tried to place the trend line but couldn't and here is the same pullback downtrend on the one hour time frame here is the area of confluence we previously identified and where the long trade opportunity occurred and here is the same area on the one hour time frame now on the eight hour time frame we previously looked at notice how you couldn't see the swings of price whereas on the one hour time frame you can clearly see the swing highs and swing lows and movements of price again we are looking on the one hour time frame in this downtrend for price action that signals a trend change from a downtrend to an uptrend and here it is on the one hour time frame we can easily place a trendline connecting these swing highs because again on this time frame we can actually see the swing highs and swing lows and once you had the trend line break this was your trend change confirmation the one hour time frame turned from bearish to bullish and matches the eight hour time frame big picture bullish directional bias so one more point as to why a trend change confirmation pattern and using multi-time frames is important you could have easily had a long wick candle form and stall at the area of confluence on the eight hour time frame here but then on the lower time frame price could have done this instead run pull back run pull back and instead of breaking out and through the trend line started another run and continued on triggering a larger trend change so after you have your trend change confirmation breakout this is when you need the final step of the formula which is to go to the lower intraday time frames and use our key entry and exit strategy and entry tool so now the part you've all been waiting for the massive bitcoin and crypto trade our members and us took using this exact strategy [Music] so [Music] this trade used everything we have shown you in this video and also some more advanced concepts so let's break this down step by step this is the bitcoin monthly time frame meaning every candlestick represents one month of time as we previously discussed things you find on the higher time frames such as the monthly and weekly hold more weight this is a very very key point because the monthly is slower moving and things take longer to form as a result it gives you a very accurate depiction of where the market is headed and of what the market is actually doing now you don't trade on the monthly timeframe you only use it as guidance for trade entries you take on the lower time frames [Music] so there were three high quality traits that gave us our clear bullish directional bias even before we brought in other time frames first your key monthly resistance level turn to support price then broke through this very key monthly resistance level that held two times next price was in a clear downtrend before price made a higher high which shows a clear trend change pattern and a clear moving uptrend even before we go down in time frames everything we just covered tells you one simple thing look for long trades now this is a very important point this is what price action is in a nutshell we were reacting to what we saw the market doing not guessing where the market would go next this wasn't even on our radar until we saw the breakout momentum and heavy bullish presence that entered the market which is then when it entered our watch list as retail traders you don't have the power to move the market you are just reacting to what you see and entering trades in the direction of where the herd and crowd is headed that's it so let's pull up the weekly time frame so that we can see this in more detail so the chart on the left is the bitcoin monthly time frame we just looked at and the chart on the right is the bitcoin weekly time frame meaning each candlestick represents one week of time this was the monthly key level and this is the same key level but on the weekly timeframe here was where the breakout occurred on the monthly here is the same breakout area on the weekly so let's go through the high quality traits on the weekly time frame full screen this is where the trade opportunity long occurred which was at the key monthly level and now also the key weekly level again things you find on the higher time frames hold more weight so first you add your very key weekly level next this level that held three times previously finally broke through which shows how much bullish momentum and buying presence had entered the market next we are also in a clear moving uptrend through the higher highs and higher lows we then had the moving average that crossed perfectly with the key level and is where the trade opportunity long presented itself next with the fib tool click at the swing low drag it to the swing high and notice how the 61.8 fib area also lines up with our trade opportunity this then gave you your area of confluence remember that this is a level that is visible on the monthly and weekly meaning there is a very high chance that price will react to the level when price finally hit the area of confluence you had candles with the wicks sticking out right at the level which shows a reaction to the area of confluence so as we previously discussed we would usually try to place a trend line onto the immediate trend and wait for a break to confirm the trend change now the issue with trying to put a trendline on this current trend is that price movement is too tight and we cannot clearly see the swing highs and lows so if we were to put a trend line up close and tight like this it'll result in fake and false breakouts so again to get around this problem we need to use a lower time frame to look inside of this pullback where we can actually see the swing highs and lows of price and then be able to look for price action that shows a trend change from a downtrend to an uptrend so let's pull up the daily time frame and put it beside this one the chart on the left is the bitcoin weekly time frame we just looked at and the chart on the right is the bitcoin daily time frame here is the very key monthly and weekly level and here is the same key level on the daily here is the pullback area on the weekly here's the same pullback area on the daily here is the weekly time frame area of confluence here's the same area of confluence on the daily now on the weekly time frame notice that you couldn't see the swings of price whereas on the daily time frame you can clearly see the swing highs and lows and movements of price so again we are looking for price action that signals a trend change from a downtrend to an uptrend and we got this trend change pattern in two forms the first is the trendline break on the daily time frame we can easily place a trend line onto the immediate trend like this and then once you had that trend line break this was your first trend change confirmation now secondly you also had a higher high which is another trend change pattern run pull back run pull back run but notice how this run here failed to make a lower low but instead made a same low or a double bottom which shows a loss of momentum and this all occurred at the weekly and monthly level clear lower highs before price finally broke through the trend line they made a higher high which is again another trend change pattern so after you had your trend change confirmation breakout all things are a go this is again when you need the final step of the formula which is to go to the lower intraday time frames and use our key entry and exit strategy and entry tool this was a very high quality a plus trade almost picture perfect now there were many different ways our members entered on this trade some directly through bitcoin as we showed and some through positively correlated assets so now what exactly is the entry and exit strategy and entry tool meaning exactly where to enter trades exactly where to exit exactly where to put your stop loss exactly where to put your profit target how to manage an open winning position to maximize profits and minimize risk and all the other high quality traits to look for within a trade opportunity and a ton of other content that won't be available on our channel as it is too dense if you want to learn this all head on over to our website at wisetrade.com so in the comments right now tell us exactly what topics you want us to cover next and any questions you have again if you want us to continue to release more videos on youtube here's how you can show your support hit the like button subscribe turn on the notifications bell and more importantly go follow our instagram page as we'll be posting more content over there now we also have a great selection of trading art that shows you the exact chart patterns and candlestick patterns we use if you want access to these pieces also head on over to our website so thanks for watching and i'll see you in the next episode [Music] you

Channel: Wysetrade

Views: 458,905

Keywords: fibonacci, fibonacci retracement, fibonacci trading strategy, wysetrade, stock trading, swing trading, day trading, price action

Id: Dc6vpxjGQqc

Length: 53min 55sec (3235 seconds)

Published: Sun Aug 15 2021