Two Step Process | Stop Rushing & Start Thinking

[Music] so [Music] [Music] [Music] [Music] [Music] [Music] me [Music] [Music] [Music] [Music] my blessings [Music] [Music] [Music] [Music] [Music] so [Music] [Music] so [Music] [Music] [Music] [Music] [Music] [Music] [Music] what is going on traders can you hear me oh you know what's funny i actually didn't bring up the um the youtube chat for me over here which is such a shame um i have to work with free screens tomorrow so we'll get that sorted anyway let me just ask if we are good to go from my tech team are we good to go yes i need to make sure that i can get this youtube up because it'd be a bit of a shame if i can't and here oh yes oh yes i can see it perfectly we can hear you perfectly all right let's go baby so welcome to the session everybody um something new for sure just going to go over i know you probably see me doing the um the weekly forex outlooks on sunday and uh unfortunately i haven't been doing them but this time around now i'm gonna spend some time with you pre new york just to give you some setups to be looking out for and to trade and um yeah there is a method behind the madness to be honest with you so these are not going to be signals these are just going to be of my own opinion as you probably can see from the disclaimer below this is not financial advice so hopefully um you'll find thank you my friend here on fleek hopefully you find this useful and let's see how we go let's see what kind of views we get let's see what kind of interactions we get as well um if your current resolution is um poor which it shouldn't be um you can just change that yourself on youtube okay um just down in the cog settings there 720 or 1080p should be good for you okay just give me a second and just make sure this is all fine all right all right so traders um this month so far i mean six days into the month i personally have only um taken two trades uh myself one on pound jpy and one on um euro usd um i'm just taking it slow last month i finished really strong to be brutally honest with you i'm not even going to say the figure that i did percent wise because it's probably not believable um but i did pretty well last month and i was trading mainly um gold to be brutally honest with you and that's where my results really came from i wasn't really focusing on um a risk percent per se but if you want an average usually it was between around one to two one and a half two percent risk as i was using the same lot sizes as i was for um my currencies in that now yes somebody mentioned gold in the um in the chats we'll go over that in a minute but first of all i want to go over my euro usd trade from yesterday um i did post this on instagram so if you're not following me on instagram i've probably done a poor poor description here actually i bet there's not even a description at all um down below this stream um which is a shame as i mentioned if your resolution isn't sharp then you need to make sure that you go onto youtube and you change your settings we mean we may need to change the settings over here let me just see and here in here what um are you getting just bear me a second guys then i'll come back for you hold on all right guys ladies and gents listen um the ord the resolution is perfect you just need to change your settings on um you need to change your settings on youtube okay so this was my trade from yesterday in eurosd before we move on to the analysis pre-london open just understand something here the times that we're going to be doing the sessions are going to be on the open of the new 4-h candle meaning that you have ample opportunity to take advantage of some really big moves in the market off of the back of this analysis so this is why we're doing it around this time plus what we want to do is we want to take the information that we get from the new york session beg pardon from the london session and translate that information over into the new york session so we have a directional bias we have structure to work with we understand sentiment of the market in terms of previous uh behavior and also any news that might be coming about from the euro and from the london open session we can then factor in for potential trading opportunities for the new york session so anybody trading now if you really think about what you're doing i'm not saying that it's not right you trade now but what i am saying to you is that the volume is less during this period even though there's still tradable opportunities than there is during the london open and the pre-new york open and new york stock exchange open so we have a one o'clock open which is new york and 230 which is the stock exchange open so just consider that now if you're taking trades and you're actually looking to enter the markets during this period you might find yourself in trouble you might find yourself some trades where the market moves in your direction and then you start to see it turning back against you so just consider that so the trade that i took yesterday was on euro usd pretty simple analysis here now i only looked at the charts once yesterday and i've got pretty blessed to be honest with you um to be able to take advantage of this trade um i had an internet uh outage imagine that in london internet outage um all day yesterday so i took this trade off for my phone but the idea behind this trade was just to follow the consensus of the market which was euro down dollar down sorry and you're a weakness here and we can see from the back of last week we had this fake out around 1841 now this was an area in the market where you can anticipate that price is going to continue bullish after this stage because once price breaks out of the level and breaks back in you still it still validates the level that was created before the breakout because you have to think of it this way right and the market breaks out of this level what you're anticipating is a continuation down and that's exactly what happened but once you get the fake out you can be assured once price breaks back in that there's the high chance price will continue up now during these stages you are going to get times where the market is going to pull back create wick rejections create fake outs for the upside and downside so what you're really looking for is you're looking for areas in the market where price closes above significant key levels i.e this right once you get that close above then you say to yourself well look the consensus of the market is changing from being bearish to bullish and now there's a higher chance we're going to continue back to a previous high which in this instance after this candle closes bullish you expect price to tap back into 1879. now this is not me making things up here this is how the market moves every single day so this is solely focusing on market structure and market behavior that's how i trade i incorporate patterns um then to enter into the trades i take so we have price pushing back into this level so what i'm looking at yesterday as i come to the charts and this is hypothetically speaking because i'm not here to monitor the whole movement up right i'm only here to monitor the potential opportunity that arises when i come to the charts so as i see this candle closing bullish which i didn't see close bullish just remember this it's just a thought process once this candle closes bullish what am i anticipating i'm anticipating the next candle to go bullish okay you have to understand this i'm anticipating the next candle to go bullish guys if you're having problems with resolution you need to change your resolution on youtube um i am getting an error on obs which is saying that my video resolution is not good over here so i will need to change that but as of now i'm not going to be able to do anything while i'm on the session otherwise i'll have to cancel it and then close it down but i think my resolution is good i just think it's your resolution i will make some changes after this but i'm watching youtube now and it looks pretty decent okay so this is what i'm anticipating next candle to go bullish here right so the candle goes bullish now you have to understand something here and i'm giving away some sweet gems for you um because i think it's important you understand this this is not so much to do with strategy this is just to do with just how price action moves every candle has its own range right meaning you might know this as the atr average true range i don't use indicators or any third-party tools i just know or can identify how the market moves every candle has its own range right once this candle which creates its bottom wick continues bullish off of the back of previous behavior into a key level in the market which is the last high that was made in this downtrend which is a bearish downtrend the idea is this and i've spoken to you all about this a lot as long as price trades below the previous lower high and a downtrend the market is still bearish so once the market pushes the range into a key level i know there's going to be one or two things that happens one of those things this price is going to break through this level and continue bullish off of the back of the previous behavior or price is going to reject this level and then turn bearish again to create the new downtrend they're the only two options that's going to happen now price can consolidate for sure but in order to consolidate it has to leave this area and either turn bearish or break and go bullish okay now with that consensus in mind yesterday the idea is to look for either a buy or a cell based on intraday time frame structures now with those two things in mind look what happens the next day the market goes down based on the downtrend yes you had the fake out this morning whatever else but price continues down so this is the theory are you following me guys and ladies are you following me i'm making sure i'm understanding the current behavior identifying the structure and the key elements of identifying the range of each candle is this making sense we follow fine now once i go down to the 15 minute time frame the idea is this to identify a shift in behavior because at the moment the current behavior is bullish into the major key level remember and what we know from this stage is that previous behavior once price came back into around 1880 um which was at the start of the month we had this really sharp rally to the downside meaning that if price comes back into this level again there's a very high chance that we're going to get that reaction okay so what i'm looking for here now is for a con a confluence or confluence is to add to the higher time frame so watch how magical this is current 4h timeframe is bearish current behavior created a bullish a bearish breakout and a break back in now we have bearish structure with bullish behavior we have current bullish behavior coming back into a major key level the theory is as long as price trades below the previous lower high then does the higher chance price will continue bearish how do we gather this part of the information well we come over to our intraday time frames and you can actually do this on any time frame of your choice whether it be your hourly or 30 minute 15 minute five minute and then what you do to identify what's happening you then revert to what we call patterns in trading and a pattern that i commonly trade is called your double top pattern now what am i looking for here i'm looking for a depletion in bullish behavior that means that i need to see price pushing bullish into the key level remember here this is where the bullish behavior started this is where it continued and this is where i need to see it stop which is the major key level price stops at this key level and what happens we get a bearish reaction immediately from this stage that's not enough that's me just gathering enough information to say well look it might be time now for me to look for a potential trading opportunity okay understand this past history does not always reflect what will happen in the future so you cannot be the trader that says well look we have a bearish engulfing candle or we have a harami or we have a tweezer top it's time to sell you can't do that because what can happen in the market is if price goes from being bullish to creating what you think is the bearish engulfing you take the sell at this level and then what happens price pushes in your direction you get excited and then all of a sudden price goes bullish is it allowed to go bullish of course it's allowed to go bullish because the current behavior of the market is currently what creating your potential higher highs and higher lows so if you're selling immediately at this level expecting this to continue bearish you could run into the higher low and see this market continue bullish right you following me this is very important you understand so what do we need to wait for well we need to wait for the market to create that bearish behavior then create confirmation of that bearish behavior which now we identify through our double top then we identify for our multiple wick projections and then we take the trade based on the break of the low which indicates the momentum and the potential new downtrend in line with the higher time frame which is bearish you see how magical that is so when you look at this trade you don't look at this trade and you say to yourself well look rocks has just taken a double top trade because it's supply of demand or it's at a key level or it's at this level at that level it doesn't work like that if it was that easy don't you think all of us would be taking trades like this now granted key level trades are very powerful so wherever you take those key level trades is completely fine but in theory you have to understand everything that happens in the market is based on behavior behavior from you behavior from other retail traders behavior from institutions banks prop firms whatever you want to call it so once you understand that the market is just made up of behavior you have to try to then understand the behavior so that you can then implement that as part of your trading which would include structure uh behavior and patterns okay so that's the theory now it doesn't mean every trade is going to win but if you notice all my trades are almost identical every single time because it makes sense so that's the behavioral and structural perspective of this trade the next part that we look at here is the signals so we have the behavior we have the evidence and the confirmation we now need the signals what signals are we looking for well i've already taught this on my youtube so i'm not going to go over it but there's only three signals you need to look for you're going to look for strong momentum candles which is identified by strong bullish or bearish engulfing candles i call them momentum candles somebody else might call them kangaroo tail somebody might call them um what's the word i don't know whatever you want to call it they're all the same thing okay but i like called the momentum candles then you're looking at your indecision candles which is your depletion candles where price is showing that it's failing to break higher x y and z meaning that there's a strong chance that sellers are sitting at this level or buyers are taking profits simple theory remember it's all theory but it makes sense when you see the repeat yourself over again then you're looking for your final one which is your wic rejections your wic rejections are a sign of price attempting to push bullish and constantly failing so that means that there must be a lack of bullish buys in the market to continue to fail to break this higher so once this happens you then isolate a level in the market where price is failing to break below because remember if this market is in an uptrend and this creates a level in the market what does this become in theory this becomes support because when you scale down to your lower time frames now and you look at these levels on an intraday perspective because every time frame creates its own structure you'll be viewing this level in the market as what as your support level where price is failing to break below here so in order to take the trade again so that you don't get trapped in the bias by by structure here you need price to do what break and close below the level once it breaks and closes below the level what then happens is you create the new higher lower high lower low lower higher retest and then you take the trade again a shift in behavior so what i'm looking for here on the 15 minute time frame because i'm looking for that shifting behavior but due to my experience i'm not waiting for the confirmation of that behavior i want to jump in at the earlier signs so that i can place my stop-loss in the most optimal area in the market which is always going to be above a major high a major key level or structural lower highs and higher lows okay so now we have the behavior the structure the signals and this candle turns bearish i'm entering on the break remember from that one minute time frame that means that there's momentum down plus the range of that 4h candle tapping into that key level the pattern the signals the behavioral change i'm now anticipating that the higher time frames will continue bearish based on the 4h structure which if you go over to the 4h structure what do you see here you see bearish structure then i enter the trade with either a cell stop an instant execution it doesn't matter how you enter this market in anticipation that price will continue bearish how do i select a target well i go back to my 4h time frame and i say to myself at this stage if i take the cell from this key level where is the market most likely to find resistance and the area where the markets most likely find resistance is going to be the support area where price created the higher low why just in case the market has or will continue this reversal up i need to make sure that i get out before the higher low is formed i don't want to be the guy that says this is the lower hand we can continue and bearish when the current behavior is bullish so if i'm looking for cells the only time i'm looking for sales after my current sell is when price breaks this low and what happens when price breaks this low simple price action price continues bearish where do we expect this market to go now we expect the market to continue bearish now this morning the analysis on this was we continue bullish because look what happened the market pushed bullish but it completely failed that level why because the trend is down and this is the major level price needs to break above first in order to look for continuation bias so that was analysis that's the thought process behind taking euro usd that's just a view overview of how i perceive the markets in terms of structure and behavior utilizing patterns with my trading and then executing my trades so i hope you enjoyed that breakdown now the idea this this morning pre-london because uh pre-new york sorry is to excuse me identify some trades for you um and see if we can get some signals based on everything that i've said here wow i said the word signals you know what i mean not signals but some trade ideas let's um take a look at the chat a second how often do you do this rocks oh every single trade man thank you for your nice comments everybody um i i really do appreciate the compliments here um but i'm going to focus on questions when is it good to sell and when is it good to buy off questions a little bit too broad my friend you might have to uh head over to baby pips if you're asking me that question no disrespect again thank you for your compliments there michael um last live session i missed man this time i catched you yeah the last live session we was just testing no worries no worries um is behavior and sentiment both the same thing um behavior and sentiment i guess is the same thing yes sentiment the way i would explain sentiment is identifying a currency strength slash weakness okay the stream will be uploaded don't worry sentiment is identifying a currency strength so it's part of my strategy and approach to the markets it's very important that i understand what is strong and what is weak identifying either dollar strength pound strength euro strength yen strength aussie dollar strength whatever currencies i'm trading out of the list here i need to make sure that i know which is strong which is weak okay so like usd swiss franc this morning i put this one on the back burner because the overall consensus of the market was bearish and the idea was that if it's going to continue bearish we should break 9203 back down but you can see the breakout was a fake out and that's what i told my community if we don't close below this level we head back into a range and we can take buys above 92.25 as well on the breakout because there's no real behavior or sentiment here and what i mean by sentiment just to answer your question is that there's nothing to identify dollar strength and there is nothing to identify swiss franc strength and how do you gauge that we'll go and look at forex factory take a look at the news and say well what was the consensus of the last news was it good for the dollar was it week for the dollar once you get that information what can you do go over here identify what's happening if the consensus of the dollar is strong here surely the consensus of the dollar should be bearish here but it's not so what does that mean well clearly the dollar is not strong it must mean that swiss franc is weak find out why swiss franc is weak go over to a swiss franc pair figure that out then you can go over to aussie dollar and say well hold on if the dollar is strong that's completely fine it means swiss franc is weak but why is it not strong versus the aussie dollar well the reason it's not strong versus the audi dollar is because there was aussie dollar news last night that forecast was 0.10 and the actual was 0.10 which is really good for the aussie dollar meaning that the sentiment of this market is more likely to go bullish so when you wake up in the morning to trade the london session you monitor what happened during the asian session you understand the sentiment of the market which is dollar weakness aussie dollar strength and once you get on the charts what do you do you hammer buys it's easy now when i say hammer buys it doesn't mean that you won't get stopped out it doesn't mean that you're going to have a break even trade and it doesn't mean that you're not going to have a winning trade all three variations or variables are going to play out but you're playing the numbers game here and that's why you use really good risk toward ratio and you focus on good at strict risk management and as long as you bring together the sentiment with the structure and behavior of the market along with patterns you're patient waiting for evidence and confirmation and then you're taking repeatable patterns in line with your trading plan using good risk management you're going to become a very very very successful trader and all that is required of you once you've mastered that is discipline more discipline and even more discipline and the urges that you fight in every single day once you can master them and you can manage them that is when you're going to become the real deal and nothing will faze you because you start to trust the process and everything else that follows with it so something to think about let's analyze some of these markets and see what's happening i am trying to keep up with the chats but i think i need a whole team here to do this the comments are unbelievable and i really appreciate the support absolutely amazing support here can i do a live trade yeah join my community and you can join my live trading sessions i'm not going on youtube taking live trades but um that is the answer to your question this is not promoting joining my academy but honestly if you want to see me trade live you can join the community very clear straightforward thank you okay fine questions anybody sending questions put a question mark so i can skip through the other comments it's really hard to keep up where do you check the strength i just mentioned that um ready so i mentioned how i identify strength from the markers or weakness uh where do i master structure and behave structure look at my youtube and take time to go over the markets the market is just the same thing every day uh do you like english breakfast yeah i love english breakfast okay where is my community i don't know man where is my community please i would like to join your telegram i don't have telegram um okay okay okay right let's get on with it fine so moving into the new york session guys and ladies let's focus on what we could be looking for because in terms of this morning's analysis with my community i mean i think i should be doing this at 10 o'clock to be honest with you and get them to join because um the truth is the new 4-h candle is what i want to focus on so we've got three hours on this for each candle we can make some money today right sentiment what is the sentiment at the moment we're identifying a dollar weakness um previous day sentiment has been bullish through the asian session sentiment has been bullish through the london session we attempted to go bullish and failed now why why have we failed what could be the reason for that well the truth is we don't need to know the answer but what we do need to understand is how the sentiment has changed from being bullish a bullish behavior bullish structure to now all of a sudden a huge rejection in theory the last level on the structure where price can trade above is always going to be the level where price creates the breakout or the higher low so as long as price is trading above 38 70 38 47 we're still bullish current behavior is bearish but we're bullish that means that there's two things we can do here we can isolate a level in the market where price is failing to break above so that we identify the momentum shift or we look for trades off of this retest level now i'm not a fan of taking trades off at this retest level even though it could make sense what i much prefer to see in the market is a shift in momentum where we go from being bearish to breaking to bullish to then create the new high higher low for a trade like this because in theory this is just a breakout consolidation and a break back in so the level where price is going to find the most resistance on any buyers here so this makes sense that this is the best plan of action to look for a trade on gu moving into the new york session anticipating price to come back to some of these highs as potentially a management slash take profit level in the market this is more high time frame perspective but this is going to help us not to take dumb trades do you know how many retail traders right now nothing against them because i'm a retail trader but the point is are taking cells right now now members of my community actually took cells on gu on the way down and i'm not going to go into how they took that it's almost identical to how i mentioned the previous trade but this is the trades that they took this morning and i'm not going to go off go on and share with their names and details with you um just for their own privacy in that but i can guarantee you handle my heart i don't know how to swear this anymore about four or five members took this trade while i was on the live session this morning i didn't have nothing to do with it they took it themselves why because it's the same thing that you saw in euro usd price wasn't failing to make new highs it was running into a major key level in the market we've already extended that 4-h candle current behavior pushes bullish creates a key level in the market with bearish sentiment and you anticipate market to continue down they took this trade phenomenal trade so with that in mind is this a good trade well yes because they waited for the market to show signs of being bearish they didn't jump in here and they didn't jump in here and they didn't jump in here they wait for the brick wall to break you have a behavioral change you have a break of a major low and you jump in the trade when you get evidence and confirmation so with that being said what are we waiting for here well look current behavior is bearish don't be the guy or the lady that jumps into the trade now because you can win but you can also lose more often than not so what can you do wait for the market to create the break back out of the consolidation that it's broke back in wait for the behavior to shift bullish again wait for the re-test of structure with a better range to the highs and then take the trade and that's what i'll focus on pound usd this morning because there's nothing to show evidence of dollar strength the current structure of this market is bullish the only time you want to be looking for sales is once price pierces through 38.37 once it breaks through this level then you have a shift in behavior then tomorrow you can come back and look for sales we'll dig through the information and figure out okay why is the dollar strong is across the board showing signs that the dollar is strong um here dollar's not strong here dollar is not strong here dollar is not strong why the heck will this continue bearish you understand so this is what we'll focus on on pound usd and well personally i will as i said these are not signals just for my analysis um but this is what i'll focus on let's see if we can break back above 3861 kickstart that momentum then once we have a behavioral change let's look for our evidence from confirmation once you get the evidence and confirmation then let's look for our patterns once we get our patterns look for our signals take the train higher confluence higher probability and that's how i think i'll focus focus on gu now some of you might go away some of you pessimists might go away and be like ah look rocks it broke 38 37 he was totally wrong with your analysis uh-uh no no no i wasn't wrong my friend i wasn't wrong it just means that it didn't plan out the way i wanted it to play out and i don't lose any money and i don't take any trades do you understand this is not about me being right this is about me trying to find the highest probable setups so that i can take them and get the highest probable return in the long run that's all it is yesterday i took one trade restaurant ratio on euro usd one to four i made eight percent on that trade eight percent i'm lying it was seven point eight percent something like that okay but i've only taken two trades for the month ask yourself how many trades have you taken if i can take three or four high probably set up probability set ups i can risk more and i will make more that didn't make sense but i can risk more because i know that i'm not the type of trader that's going to be just thinking about one percent here there and everywhere just for the sake of it if you're the type of trader that wants to fling around one percent or two percent here there and everywhere every day then what you need to do is you need to consolidate your losses say to yourself well look i have a one percent risk today which is a thousand pounds and from that thousand pounds i'm going to convert that into five potential trading opportunities so in a scenario where let's say you're taking a breakout trade right you say to yourself look there's been multiple wic rejections before from this level i've seen price tried to break it but it's failed today my risk percent is going to be um one percent and i'm gonna risk a thousand pounds for the day right this is this is this is going to be your thought process or needs to be your thought process okay one percent risk thousand pound now i'm taking a breakout trade which i know there's a very high chance during this breakout trade that price is going to reject this level i don't have a fixed stop loss because the lower high is up here and i only can use maybe a structural stop-loss above the breakout candle or the key level uh the structural height in this instance as opposed to the lower high you need to say to yourself during this stage i have five trades so you're going to break this down into five trades for the day now some of you thinking well if i take one trade and i'm only taking five trades that means i'm only going to make 600 from a one to three well if i risk one thousand i can make three thousand but you're not thinking straight what you can do in this instance is you can say well on the breakout i'm going to risk 200. that's one of my five trades and if price pulls back this is an optimal level as long as i get enough evidence and confirmation i can enter another 200. now you have 400 on the line you still have free trading opportunities for the day let's say your stop-loss is above here now you're in two positions with 400 risk you have one optimal entry and one breakout entry so you're mitigating losses here at this stage you say to yourself i have three more trades opportunities for the day if price breaks this level i'm gonna get stopped out on both trades if price trades below it then i'm good to go if you start to see a behavioral change where price starts to break this level you're in two entries with free tradable opportunities for the rest of the day with only one percent risk you're guaranteed yourself now if price continues to push in bearish 200 here and if price continues to push bearish 1r here you're guaranteed 600. now what you can do is you can trade based on structure because now you've had the breakout which is confirmed you can then wait for price to pull back to give you the retest the evidence and confirmation hit another 200 here now you have two trays left for the day with free trades running and an optimal stop-loss placement probably above a key level here now if the market comes back you trail these down and stops you out here you've guaranteed yourself one loss and you take a small loss here you go back to automatically having four trades for the day whereas a lot of you will enter the trade with your one percent risk here price will come back stop you out and then guess what you're done for the day you end up chasing that thousand pound back you're one percent and you're absolutely finished whereas somebody who's smart and who really wants to make money will trade that they will trade the market with this process risk before reward and they will always make money guaranteed guaranteed to make money so think about what you're doing when it comes to risk okay so let's get on because we've got 21 minutes left and then i'm gonna let you guys and ladies get on so this is kind of the plan i'll be looking for with pound usd okay let's take a look at aussie dollar jpy the analysis this morning was identifying this bullish behavior let me tell you now there is much higher chance that the aussie dollar is going to continue bullish and it is going to go bearish and the reason for that is simply because there was very good news yesterday for the aussie dollar okay now the level where price is going to react to and this is what i mentioned this morning with my community is 8417. remember when i mentioned to you there's a range in every candle pushing bullish or bearish it's called an atr i don't use indicators like i said i just checked the average range so if you look here you see this candles push bullish check it with some of the average candles and you can gauge and say well look this is push too bullish already whoa so you don't buy here you're only going to buy here because once price breaks above those key levels remember which is this level here and you close above bullish where's your next destination you have a structure you have structure in your favor you have behavior in your favor and you anticipate what the next candle to go bullish up to the structural higher where you're going to find the most traffic how do you enter this trade come down to your 30 minute time frame or any time frame wait for price to create the break wait for price to create the pattern wait for price to create the signal and then what do you do you enter the trade how do you set your targets where do you think price is going to go well it's going to tap back in to at least the major high in the 4-h time frame and now you have here a one two three point four two risk war ratio trade without even blinking depends how you manage this you might have been break even but you get the point you get a phenomenal trading opportunity and the process doesn't change okay now that's not going to help you moving into the rest of the day but let's figure out how we can trade this we know that the sentiment of the market is bullish we know that the new 4h candle is open new york session will be opening in the next well pre next 50 minutes that's when i start trading at 12 o'clock we want to see the market continue bullish back to the high question is how much range do we have we have 16 pips what kind of stop losses can we use with aussie dollar jpy potentially we can use a three to five pip stop loss do you have enough range back to the highs to take a valid trade yes you do but how do you enter this trade well you need to identify levels where price failures break above because you're taking buys back to the hourly time frame what is the level where we're failing to break well this is the level where we're failing to break this is the level where we've created the structural low why well let me show you let's go to the 15 minute time frame you now start to identify what i mean here we have a range previous behavior was bullish current behavior bearish now we're stuck in a big fat range what can we be looking for the new york session well if the market starts to break above this level here and we close above where is the final destination there's a very high chance that the final destination is going to be back at these highs so i'm not going to tell you how to enter this market but i am going to tell you what i will be looking for personally based on the sentiment which is aussie dollar strength based on structure which is bullish based on current behavior which is a consolidation so the theory is break above retest continuation or break below re-test continuation and then i'll look for my signals which is going to be the bullish candles wick rejections etc etc and then the question is in terms of risk management do i have enough range yes i do what are my targets my targets are going to be major 4h level highs and that's how you plan a trade and now you just wait for it when is the optimal time to take this trade the optimal time to take this trade is going to be around the new york open or pre-new york which is 12 to 1. okay so in 15 minutes time or 45 minutes time so this is what i personally would look for in aussie dollar jpy now if the market starts breaking closing below this level and goes bearish did i get it wrong no i didn't the point is i'm very very aware that this is a strong push phase and there's a high chance price can exhaust back down to the structural low so for higher time traders who are looking for a continuation of this uptrend this is what you're going to be looking for because you don't have enough range to the upside here you look for the re-test of the previous consolidation or the higher low that's formed for a continuation higher okay intraday time frame traders can look to take advantage of this range because your stop-losses are always going to be smaller okay so this is the plan with us dollar jpy plans with pound yen now this morning we identified yen sorry pound strength and we had no evidence to confirm that there was anything to confirm yen strength this is coming off the back of yesterday's news i believe which is uh the uk coming out of lockdown on july the 19th but the behavior illustrated that that was a consensus of the market but we have rejected that majorly so the idea was to look for price to trade above 1.53 84 or 76 to look for continuation buyers and we've broken back in in an instance like this traders what you need to do is you need to remove your drawings you need to mark your structural high and mark your structural low and that is it your job is done for the day now if the behavior of the market is going to continue bullish off of yesterday's news we are going to break above 153.91 guaranteed if it does that if the market is not going to continue bullish back off the behavior of yesterday then you revert back to the theory of a consolidation you wait for 153 to be broken to look for cells or 153.91 to look for buys targets structural highs structural lows that is it it's that simple now you incorporate your strategies whatever strategies you're using and you look for your patterns and processes to enter the chain trades okay so this is how it's going to work for the new york session for pound jpy remember i told you this now don't come back to me tomorrow and say well rocks it broke out broke back in i took a cell when you was wrong no no no my friends listen you can lose trades and you can lose a lot of trades in a row and you can have losing weeks and losing months in some cases some of the big boys have losing years us retail traders we're call we we don't we're not too tied up with rigid uh rules and regulations so we can really push for we can really push for um winning days and weeks and months near enough every week and month and day but they can't so understand if you take a look to trade it just really is what it is learn to walk away but this is how we'll plan to trade gj now looking at usd switch frank this makes zero sense to us you have to understand this the overall sentiment of the market right now is not telling us anything about the dollar and why the dollar should be strong this break above this key level here is nonsense it's nonsense it makes no sense what we understand from usd swiss franc is price tried to break the highs off of the back of this uptrend it failed it broke below the previous structural lows creating this new low and now what do we anticipate well we anticipate the lower high which never formed because we never had the new low or we expect price to come back to what as i always mentioned the previous consolidation whether it be a structural high or low so we've come back to this can you trade this well of course you can let's go down to the five-minute time frame we're using all time frame here's traders what we're looking for behavioral change we're looking for price to break the brick wall this is a behavioral change we're looking to isolate a level in the market where price is failing to break below so this is the previous higher low if price trade is above this we're bullish how do we plan a trade we're looking for the momentum shift back down we're looking for the retest we're looking for the continuation back down to the re-test level on the 4-h time frame and this is how you plan a trade based on the overall sentiment of this market which currently is bearish because this is the low this is the retest level and now the current candle is bearish what would we like to see from this well we would like to see the market create bearish behavior how we need it to break below levels where it's creating the resistance so the resistance is going to be this area here once you have this level of resistance you know that if price breaks this level there's a higher chance price can fall and the way you need to think about this view every level in the market as a brick wall let's say now you have this brick wall and you're trying to get past it your soldiers are trying to get past it if the market or your soldiers cannot break the brick wall then it's important but if your soldiers start piling down into this brick wall then all of a sudden they start to get over this wall that means there's a very high chance that everybody else is going to follow or there's a way to get over it yeah now this might sound silly to some but you have to think of it this way okay my once they find resistance which is our level there and eventually your soldiers start to get over it there's a high chance that we're continuing down so once let's say for the new york session we start to see this movement down we know that our soldiers are starting to get down over or below then we start to look at the higher time frames we understand the behavior where the soldiers were failing to break above then they started to smash structural lows and create new lows they created a lower high but failed to break but they're re-testing previous structure there's nothing to support dollar strength at the moment so why are we going bullish if it was dollar strength we would have closed above this structure but we haven't we're flipping bearish if this continues bearish there's a very high chance that what will happen price will continue bearish back down to these lows so what is the plan of action the plan of action is to wait for the behavioral change so we're waiting for the brick wall here on the five minute time frame to be violated and you're waiting for the major low in the market to be violated to illustrate now that potentially a new structural low low or higher will form for a continuation bearish then you have a structural high low lower high which is a formation of a downtrend and then you look for cells okay this is how you're going to work it now the previous candle closed bullish which means that the current candle can continue bullish but you need to ask yourself would i take buys in this scenario after i've seen prices push bullish and we've rejected this level i don't think so because now what you're doing here is you're identifying a bullish candle trying to break back into the previous consolidation to make the higher and failing and then when you plan to take a buy again it's almost like well hold on a minute what's happened there's a tug of war between buyers and sellers it makes no sense why the market went bullish but couldn't sustain it then all of a sudden turns bearish and then all of a sudden goes bullish again it doesn't make sense so what we what we want to latch on to here at this stage is the bullish behavior attempting to go bullish off of the back of the previous 4h bullish current status of the market is bearish because of the brake close blow and the re-test and if the current candle can sustain this bearish structure and behavior there's a very high chance this calendar will continue to close bearish but if it cannot sustain it then it's not enough to sustain that this is a good enough trade so you step away okay so that's my plan for usd swiss franc next pair we'll take a look at his aussie dollar usd this should be a no-brainer for you remember what we said there was strong aussie dollar news last night or good news for aussie dollar during the asian session or pre-asian session we had a break above a major key level remember when price breaks above a major level what you anticipate price to do continue bullish dollar weakness bullish aussie dollar strength bullish and then where'd you expect targets 76.09 y major structural high or as it's a breakout break back in level you can use it like this break out break back in price holds where does price react after the break close above the level targets how'd you enter the trade scale down to your lower time frames what you're looking for again you're looking for structure and behavior to work in your favor consolidation what you wait for break re-test and then how do you take the trade whatever signals your strategy tells you to take but let's just say you take it like this stop loss below targets to the high bob's your uncle okay bob is your uncle pretty simple now again can you lose trades well i want to manage expectations here of course you can lose trades but this is how you want to be approaching the markets well this is my recommendation what is the plan of action today well i do believe that we can continue bullish i will use this as a structural high because you know i have to give myself hope here if i want to take a trade and i think that will be the hope i'm looking for 76.10 again same plan of action just like on aussie dollar jpy here isolate 11 in the market where price is failing to break above then once you isolate that level you're then looking to find areas in the market let's say in the 50 minute time frame where price can close above this level once you get that close above then you're looking for that retest or you're looking for the immediate breakout or the continuation and then you're looking for your targets to these highs here if it starts breaking below then just anticipate the pullback and uh yeah it just is what it is it can be expected because of course the market is pushed a lot and every push phase market has to exhaust so you expect the market to pull back to 75 37 for the pullback retest and then the continuation up at some point this week so that's how i approach aussie dollar usd now remember what we said you starting to understand the picture we know that the dollar is what weak if price breaks below 110.81 where are we going down what is the structure of this market bearish what is the consensus of this market bearish what is the sentiment of this market bearish you just don't take buyers off of support just for the sake of taking buyers off of support the only time you trade support and resistance or should be trading support and resistance and this is honest to god's truth here i've traded every single time frame from the daily all the way down to the one minute the only time you want to really be trading support and resistance is using one what um one minute time frame one minute time frame and i'm not going to teach you how but the one minute time frame you take advantage of candle ranges key levels and wick rejection rate areas in the market and then you can absolutely kill it okay but we're not going to go into that but the point is we expect now market to continue bearish that's what the markets are telling us the markets are usd swiss franc pound usd pound yen usd cad that's the market okay that's what the market's telling us that's a consensus so now we expect this to go down how you plan to trade this it's really entirely up to you um i'm not gonna go into too much details but the reason why this level here 110 68 is marked is because we're looking at this level as a management level and then you're looking for 110 46 potentious final targets okay so let's continue um the next movement we're looking here is for euro yen now the idea here was this is the consensus of the market this morning was breaking above 130 165 and the problem here is this the structure is bearish and this is the last lower high if you're taking bias above this level it's completely fine and i tell you why because once price breaks above this level is part of a consolidation you anticipate the market to continue bullish okay and this is a consolidation i'm talking about look here the brake loads above this level you expect the market to continue bullish but the overall consensus market is bearish based on the behavior once price taps into 1.3185 what do you have the most craziest reaction why i don't know it's a freak moment is the yen strong no it's not is the euro showing signs a weakness yes it is but are we gathering enough weakness from the euro and strength from the yen to validate taking a cell from this level we're really not what do we need to see the market do in order to validate that we're going to continue looking for cells we need to find confluence with euro usd we also need to find confluence with the yen as well and so far we're not gathering that because of pound jpy and aussie dollar jpy being bullish so what we need to see now from the markets is we need to see price breaking levels so once we break 130 142 we're in the game if we start breaking 130 129 we're in the game do you understand now this is only indicating euro weakness this is not indicating yen strength because we expect jp pound jpy's continue bullish so what can we look for here well the idea is that we'll get final targets down at these lows but how do you enter the trade well guys and ladies you're looking for your retest on whatever time frame or you're looking for levels to be supported to then look for the breakouts and the continuations down to these lows so if you want my advice it makes no sense that you'd look for buyers today on euro yen even if it goes bullish all the way up to the moon because the sentiment and behavior in the market is bearish all the other currency pairs are indicating to us you're a weakness and at the moment we're seeing strong sentiment of yen strength versus the euro we'll take a look at euro usd in theory if the euro is weak then we should see this bearish but why is this bearish when the dollar is weak it must mean the euro is weak okay that's how we have to gauge this so we understand the euro is weak so we can continue to look for sales on this pair and this is how i'd look for it if you haven't already taken a trade or you're in it now taking a look at usd cad again this is in a consolidation this level of marked as the major low of this level because of the previous consolidation this was a gap down correction on sunday now we're looking for the market to come back to the previous retest level the consolidation which turned the market bearish and you're looking for price to trade below this level for continuation cells the idea is to see a strong close below this level and then look for those retest continuations down at some point can you take a trade from this level well you absolutely can but this is how you have to plan this you have to understand that on the way up to this level the market is going to be super bullish you need the market to show that it's failing to break you need a break at this brick wall you need potentially a pattern which is a double top or even better still you need the market to start the downtrend which will create the new structure intraday structure to start moving this market down don't be first to enter this straight away just don't just don't just don't it makes no sense that you try to be that guy all right you just don't need to be that guy that gets in there first this is not about you winning a trade today some of you want to be funded traders and partial challenges or whatever you're doing but yet you're not patient enough to wait for the markets to create solid setups for you to take and that's why you find that you get to five percent but you can never get to ten percent because on the way up to five percent it was all luck because you was taking these trades off of key levels and then now you're taking these trades off of key levels they don't work anymore there's something to think about wait for the market to speak to you first then react next don't be the one to react to the market okay so that's how i would plan trading usd cad time is getting on let's move on to the final one which is going to be gold here on gold i believe final targets on gold and i've mentioned it on the stream is going to be um 1812. why we're at all-time highs here at the moment in recent history which is well not all-time highs but currently since the middle of june or third week in june here we're making real new highs now understand the beauty of this dollar weakness where investors going they're going over to gold why do we need to know no not necessarily but we can see the market is telling us gold is weak and investors are going over to gold that helps consolidate our analysis on all the other pairs and now helps us to gauge what we can be looking for here for gold now the idea plan ideal plan for higher time frame traders is to see the pullback you never want to enter this trade on a push phase anymore if you're not already in the markets wait for the pullback if you're an intraday trader and the volume kicks in for the new york session then i personally believe if price starts breaking above 18 12 55 we can head up to 1822 today as a final target i really do believe that now i could be totally wrong totally wrong and i don't need to back myself up here because you're all mature adults and you know how to trade and trading it's just sometimes you win sometimes you lose but i do believe and today i personally would be looking for this for myself if we start to see volume kicking into gold and we start breaking above some very important levels in the market and we start then piercing through some of these structural highs here where the most resistance is forming which is this level here i believe we can continue bullish you have two ranges on gold to work with anybody taking cells i don't know why you'd be taking cells okay but if you do you do that's your first range that's your second range on gold how can you take this well with a 44 pip range here you're probably like you're really laughing you can wait for the close above retest continuation you can take the immediate breakout but not now you wait for the immediate breakout in a high volume period when spreads are low that will indicate to you that it's a high volume period once the spread starts to decrease and i don't mean dramatically i just mean enough then you look to take the buy above um i'd say like 1809 47 around the new york new york new york session okay in half an hour to an hour and a half time or you wait for the market to break above you look for the retest to create the higher low so you have a soft uh um um [Music] a fixed stop-loss placement and then you look to take it back up to the highest for management if you want a solid solid trading idea and you don't want to jump in just too soon you want a better range you wait for this key level to be broken first and then you look for the continuation higher the higher you allow this market to go the more you lose range on the 4-h candle meaning that there's a higher chance it will reject however if there is enough volume in the market and the consensus is correct we know that this 4h candle can push as much as these candles to the left meaning that this range is hardly nothing for gold to reach today so that will be my analysis um on the 10 pairs pre-new york i have my trading plan um my trade yes my trades my trading plans planned for my trading pairs we'll figure out how to say that in a shorter sentence and personally that's what i'll be looking for um i haven't taken any trades today no because i'm only trading the new york session at the moment it's just easier for my mind and as i said i had a very very good month last month so i don't need to be forcing anything this month so i'm just taking my sweet time and i'll be waiting for the new york session to the new york markets to open so that is uh my analysis this morning on the market so i hope you enjoyed that um and it will be good to know in the comments below once this is uploaded um what you think of this actually how your trades go throughout the rest of the day and yes i will be back tomorrow at the exact same time if i can just ask you all just to hit that like button for me please and if you didn't like it hit the dislike button as well both your likes and dislikes help others to view this so if you hate me i love you still hit dislike if you love me and you want to see more of this hit that like button thank you everybody and if i miss your questions i'm really sorry thank you moderators and take everybody bye bye now

Channel: RockzFX Academy

Views: 41,182

Keywords: live trading, xauusd, gbpusd, gbpjpy, eurusd, moon, amc, new york trading, new york trading session, london trading, london trading session live, london trading session, london trading floor, new york trading session forex, new york trading floor

Id: lO9CePrOikA

Length: 66min 5sec (3965 seconds)

Published: Tue Jul 06 2021