How To Tell When Support Will Break? (Must Watch)
Summary
TLDRThis video script delves into price action trading strategies, focusing on support and resistance levels. It explains the significance of 'power moves' and 'crawler moves' in predicting price reversals or breakdowns. The presenter shares insights on entry and exit strategies using bearish engulfing patterns, Fibonacci extensions, and moving averages. Additionally, the script hints at a comprehensive trading guide available for purchase, promising to unlock more advanced techniques for consistent profitability.
Takeaways
- 📈 The speaker introduces two types of price movements at support or resistance levels: 'power moves' and 'crawler moves', which are significant for predicting price reversals or breakdowns.
- 🔴 A 'power move' is characterized by large bearish or bullish candlesticks approaching support or resistance, indicating a potential swift reversal in the market.
- 🔵 A 'crawler move' is identified by a series of lower highs approaching support or higher lows approaching resistance, suggesting a weakening trend and possible breakdown or breakout.
- 💡 Traders often take profits when a strong move into support or resistance occurs, creating buying or selling pressure that can influence price movements.
- 📉 The fear of giving back profits can lead traders to exit positions, contributing to buying pressure that might push prices higher after a power move into support.
- 📊 The absence of immediate obstacles after a strong move into support or resistance can result in a rapid price reversal, as there's no immediate resistance to counter the move.
- 📌 The speaker emphasizes not trading every power move due to the need for additional confirming factors before entering a trade.
- ✅ The script illustrates a trading strategy using a bearish engulfing pattern as an entry trigger and the ATR indicator to set stop-loss levels.
- 🔍 The Fibonacci extension tool is introduced to identify potential exit points by projecting price movements beyond the immediate support or resistance levels.
- 🌐 The strategies discussed are applicable across various timeframes, from the four-hour chart to the weekly chart, demonstrating the flexibility of the trading approach.
- 📚 The speaker promotes a book, 'Price Action Trading Secrets', which delves deeper into strategies for consistently profitable trading, including risk management and breakout trading techniques.
Q & A
What are the two types of moves discussed in the script when the price approaches support or resistance?
-The two types of moves are 'power move' and 'crawler move'. A power move is characterized by a series of large bearish or bullish candles approaching support or resistance, respectively. A crawler move is indicated by a series of lower highs into support or higher lows into resistance, showing a gradual weakening of the price movement.
Why is a power move significant when it comes to trading?
-A power move is significant because it can lead to a swift reversal in the market. Traders who are in profit may fear giving back their gains and look to take profits, inducing buying pressure. Additionally, technical traders may see the price at a support or resistance level and decide to enter trades, further increasing buying or selling pressure. Lastly, if the next obstacle (resistance or support) is far away, it allows for a potential large move in the direction of the power move without immediate obstacles.
What does a crawler move into support indicate about the market sentiment?
-A crawler move into support indicates a sign of weakness in the market. It shows that selling pressure is increasing as sellers are willing to sell at lower prices, suggesting they expect support to break. This can lead to a breakdown in price as new traders may place their stop losses just below the support level, which, if triggered, can add to the selling pressure.
How can a trader use the Fibonacci extension tool to set a target for a trade?
-A trader can use the Fibonacci extension tool to project where the price might go after a breakout or a significant move. By drawing the tool from a swing high to a swing low and then back to a higher high, traders can look to exit just before the 127% extension level, which is considered a common retracement level where the price may consolidate or reverse.
What is the strategy for entering a trade when the market is in a downtrend and approaching resistance?
-When the market is in a downtrend and approaching resistance, a trader can look for a valid entry trigger such as a bearish engulfing pattern or a false break above resistance. The trade is entered on the next candle open after the trigger. The stop loss is set a distance away from the resistance, using the ATR indicator to determine the distance, and targets are set at recent swing lows or using the Fibonacci extension tool for a more aggressive target.
How does the concept of a 'failed breakout' relate to setting a stop loss in a trade?
-A 'failed breakout' occurs when the market breaks a level of support or resistance but then reverses back into the previous range. To set a stop loss in such a scenario, a trader might place it just below the resistance level if going long, assuming that if the breakout fails and the price returns to the range, the trade should be closed to limit losses.
What is the reasoning behind not moving a stop loss to breakeven too early in a trade?
-Moving a stop loss to breakeven too early in a trade can be risky because there is no immediate obstacle to prevent the market from reversing and hitting the stop loss, especially if the trade is in an area of resistance. It's better to leave the stop loss at a logical level to give the market room to move and potentially hit a more favorable target.
How can a trader identify a potential trading opportunity in a market that is not breaking out but consolidating?
-In a market that is not breaking out but consolidating, a trader can look for a power move into an area of support. This could indicate a potential reversal and buying opportunity, aiming to capture a swing up to the resistance level. Traders might look for bullish reversal candlestick patterns like a hammer as a signal to enter such a trade.
What is the importance of managing risk and setting targets in trading as discussed in the script?
-Managing risk and setting targets are crucial in trading to protect capital and ensure that trades are executed with a clear plan. This includes setting stop losses to limit potential losses and setting multiple targets to take profits at different levels, which can help in securing profits while allowing for the potential of larger gains.
How can a trader determine the strength of a market trend using the concepts discussed in the script?
-A trader can determine the strength of a market trend by observing the price action near support and resistance levels. A series of higher lows into resistance indicates buying strength, suggesting the market is likely to break out higher. Conversely, a series of lower highs into support indicates selling pressure and potential weakness, suggesting the market may break down.
Outlines
📊 Understanding Price Action at Support and Resistance
This paragraph introduces the concept of price action at support and resistance levels. The speaker engages the audience by asking whether the price will reverse higher from support or break down. It explains the importance of recognizing two types of moves: 'power moves' characterized by strong bearish or bullish candles approaching support or resistance, and their significance in trading due to the behavior of traders in profit and the potential for swift reversals or breakouts. The paragraph also sets the stage for a more in-depth explanation of these concepts and a trading strategy to be shared later in the script.
🐉 The Power and Crawler Moves in Trading
The speaker delves into the specifics of 'power moves' and 'crawler moves,' two distinct types of price action near support and resistance levels. A power move is marked by large candlesticks approaching these levels, often indicating a strong trend that could lead to a swift reversal or breakout. Conversely, a crawler move is characterized by a series of lower highs or higher lows, suggesting a weakening trend that may result in a breakdown or breakout. The paragraph emphasizes the psychological aspects affecting traders and the potential trading opportunities presented by these moves.
🎯 Trading Strategy: Power Move Entry and Exit
This section outlines a trading strategy focusing on the power move into resistance. The speaker describes a bearish engulfing pattern as a valid entry signal and discusses setting a stop loss using the ATR indicator to avoid being stopped out prematurely. The strategy includes setting two take-profit levels: a conservative target at a recent swing low and a more aggressive target using the 127% Fibonacci extension. The speaker also addresses the importance of not moving the stop loss to breakeven too early, which could result in missing out on potential profits.
🌐 Applying Price Action Strategies Across Time Frames
The speaker illustrates how the discussed price action strategies can be applied across different time frames, using an example of the USD/INR currency pair on a weekly chart. They highlight a potential long entry after a breakout and closure above resistance, with a stop loss set just below the resistance level. The paragraph also covers the use of a 20-period moving average as an exit signal, demonstrating how to capture profits in a long-term uptrend and manage risk effectively.
📚 Bonus Trading Insights and Resources
In the final paragraph, the speaker offers additional insights into potential trading opportunities, such as looking for bullish reversal patterns like a hammer candlestick at support levels. They also promote a book titled 'Price Action Trading Secrets,' which is said to contain comprehensive trading strategies and insights on price action trading. The book is offered for purchase, including shipping, and is promoted as a valuable resource for traders looking to improve their skills.
Mindmap
Keywords
💡Price Reversal
💡Support and Resistance
💡Power Move
💡Fear of Giving Back Profits
💡Crawler Move
💡Breakdown
💡Breakout
💡Fibonacci Extension
💡Stop Loss
💡Risk Management
💡Candlestick Patterns
Highlights
Introduction to support and resistance concepts in trading.
Understanding the importance of price action at support and resistance levels.
Definition and explanation of a 'power move' into support or resistance.
Illustration of a power move with a chart example.
Significance of a power move due to fear of giving back profits and induced buying pressure.
Explanation of how a strong power move can lead to swift reversals.
Introduction of the 'crawler move' and its implications for market direction.
Difference between a power move and a crawler move in terms of market strength.
Analysis of the impact of stop-loss orders on market movement.
Strategies for trading power moves in bull and bear markets.
Use of the ATR indicator for setting stop-loss levels.
Setting multiple targets for trades using recent swing lows and Fibonacci extensions.
Explanation of a trading strategy using a bearish engulfing pattern as an entry trigger.
Using a 20-period moving average as an exit strategy in a long-term uptrend.
Identifying potential trading opportunities in a multi-decade uptrend.
Strategies for handling trades when the market consolidates and moves lower.
Book recommendation 'Price Action Trading Secrets' for further learning on trading strategies.
Transcripts
hey hey what's up my friend so have a
look at this chart over here and let me
ask you do you think the price will
reverse higher from support or will the
price break down I'll give you five
seconds to think about this 205 okay
let's have a look at another example
what about this one so notice how the
price comes into support do you think
it's going to reverse up higher or will
the market or the price break down lower
let me give you 10 seconds
Okay so to know whether the price is
likely to break out of support or will
it reverse from support right you must
first understand the two types of move
right the two types of moves right when
the price approach support of resistance
okay the first move that I want you to
learn is what I call a power move so a
power move into support is where you
notice a series of you know big bearish
rate candles coming into support so let
me give you a quick illustration so
let's say Market is in a Range it goes
up comes down goes up comes down goes up
and then it starts coming down right
this is a big red candle right let's you
know bold this this is another big red
candle right coming into this area of
support so this is what we call a power
move I'll share with you a chart example
later on so you can understand it better
but in the meantime right a power move
into resistance is just the inverses
where you see a series of big green
candles approaching resistance so why is
the power move significant okay so we'll
get to that right but first this is how
it looks like so this is what I call a
power move notice the big red candles
approaching this area of support so why
is this significant right for a few
reasons number one
imagine that someone who is uh short
right at this candle or at this area of
resistance the market
in a few moments quickly went in their
favor so they're already sitting in
profits maybe a thousand dollars two
thousand dollars so what happens is that
this group of Traders are they will fear
fear of giving giving back their profits
right have you ever remember you know
you hold on to a trade so long you watch
your profits from a thousand dollars you
know trickle down to 800 to 700 you
continue holding until you hit your stop
loss right you've got nothing out of it
so there's this fear of giving back
their profit so traders who are short
right they have this fear of giving back
their profit so this is why they will
look to take profits
and that right would help induce buying
pressure so when you are short and you
exit the position it's actually a buy
order a buy order would create buying
pressure to push the price up higher the
second reason why right uh a power move
into support is significant is because
it's coming into this obvious area of
support right and Traders who you know
use technical analysis oh the prices at
support right now let's buy guess what
that induces buying pressure as well and
the third point is very important pay
attention
it's this whenever you see a strong
power move coming into an area of value
like you know support resistance Etc
the reversal can be just as Swift right
towards the upside why is that it's
because pay attention it's because there
is no obstacle in the way or rather the
obstacle right is quite far away okay so
if you think about this let's say
someone were to buy at this area of
support okay let's say he buy here and
ask yourself right if you understand
Market structure price structure where
is the next area of resistance it's
actually somewhere here so you can see
that from here all the way up to here
this is your potential profit so you can
see that your next obstacle is actually
actually quite far away so there's no
like obstacle in the way you know having
to induce selling pressure to push the
price down lower so because obstacle is
pretty far away over here so this is why
when you see a power move into support
right uh there are times right where the
reversal could be just as Swift right
towards the upside so here's another
example of a power move into resistance
so again the concept is the same the
only difference is that you know now
it's just a power move into resistance
you're seeing a c a series of green
candles into resistance now one thing to
be clear is that I don't just trade
every Power move coming to support and
resistance because they're not you know
not all of them will reverse so later on
I'll share with you how to actually
trade power move in fact I'll teach you
a relatively simple but powerful support
and resistance trading strategy so you
can profit in blue and bad markets
okay moving on I want to share with you
the second type of move the crawler move
right so what is this so when you see a
crawler move into support is where you
get a series of lower highs into support
it looks something like this so let's
say this is an area of support Market
goes up comes down goes up comes down
goes up comes down goes up comes down
and each
each one
rarely you notice that it gets weaker
and weaker regard because the the upside
right gets shorter and shorter and if
you look from left to right notice a
series of lower highs lower highs lower
highs so this is what we mean by lower
highs into support a crawler move into
support likewise if you see a crawler
move into resistance you can expect a
series of higher lows into resistance so
let me give you an example so this is
what I call a
a crawler move into support right notice
this over here how the market right made
a series of lower highs lower highs into
this area of support so usually
when I see a crawler move into support
right this to me is a sign of weakness
okay or rather this tells me that
selling pressure is stepping in why is
that and how do I know that because you
can see right that the sellers they are
willing to sell at this and lower prices
so imagine if you are a seller and
you're selling close to resistance it
doesn't quite make sense right unless
you think
okay so if support does break then yeah
looking back yeah this is a pretty good
price to short that but if you don't
think so support will break then you
know it doesn't quite make sense to shot
so near support so clearly the sellers
are confident right they're willing to
sell at this lower prices because they
expect support to break so when you
notice a series of lower highs into
support more often than not it usually
lead to a breakdown and that's not all
because
naive Traders or new Traders whenever
they see oh man Raina look the price is
coming to support guess what they'll buy
and where would they put their stop loss
they put their stop loss just below the
lows of support below the loaves of
support right so if enough new Traders
do that and enough
stop loss right it's below this area of
support right this again right add fuel
to the fire because if you think about
this someone who is long
their stop loss right is in essence a
short order right to get out of their
losing trade so if the price goes down
and hit their stop loss which is a short
on the debt feels even more selling
pressure right causing the price to hit
down lower so for this few reasons which
I shared with you right this crawler
move right a series of lower highs into
support right is usually a sign of
weakness or rather uh sign that you know
that sellers are about to drive the
price lower on the other hand right if
you see a series of higher lows into
resistance so you can see over here a
series of you know higher low higher low
high low high yeah low I had to do that
right a series of higher low into
resistance is a sign of strength okay so
why is that again the inverse is true
because you can see that the buyers
they're willing initially they bought
over here they push the price up higher
Market makes a pullback they buy this
lows it goes up higher
pull back by this lows then it goes up
higher make another pullback by this low
so you can see that each subsequent
lower is higher than the one before so
if you think about this right who in the
right frame of mind wants to buy just in
front of resistance unless you are
fairly considered that hey you know
resistance will break they know the
price is likely to break out higher so
this tells you that you know buying
pressure is stepping in right I think
they believe that they are relatively
confident hey the market is about to
break out higher so that's why they're
willing to buy at this higher prices and
more often than not right when you see a
series of higher lows coming into
resistance the market is likely to break
out now let's do a super quick recap
number one the market could reverse
after a power move into support or
resistance right as I've explained why
earlier however we don't trade every
Power move or trade the reversal right
just because a power move come into
support there's a one or two other
things that I still look out for and
I'll explain to you what it is right
before I trade a power move and likewise
right uh or not moving on right the
market could also break up after a
crawler move into support or resistance
in other words a series of fire lows
into resistance or a series of lower
highs into support now moving on I want
to share with you uh using these two
concepts you've learned right I want to
share with you a couple of trading
strategies that I use right to profit in
Bull and Bear market so let's get to it
now let's have a look at another example
shall we so again the May formula I'll
just do a quick recap here in case you
know some of you have short-term memory
like me m a e
what is the market structure that you're
seeing on this chart over here this is
the New Zealand Canadian the four hour
time frame what is the market structure
downtrend right great right Market is in
a downtrend so you know that the market
is in a downtrend where will you look
right to trade from where is the area of
value that you want to pay attention to
in this case a real value is at
resistance fantastic right so let's
cover this first two so in the market is
in the downtrend area a value I'll
probably highlight this one over here
okay there's probably the key one
they'll pay attention to and let me just
change this to Black right so we don't
get confused later on with our entries
and exit okay and again for those of you
who prefer to have it drawn as a
rectangle you can you probably look
something like this right as an area on
your chart right that's perfectly fine
so all that's left to do or rather the
next thing to do is to wait for the
market to come towards your area of
value or in this case resistance so you
can see the market hit up into
resistance okay breaks into resistance
at this point and this candle over here
we have a valid entry trigger this is
what we actually call a bearish
engulfing pattern this the story behind
it is similar to a shooting star pattern
right where the the bias were initially
in control and then they quickly write
code uh disrupted and the market got
pushed down lower by the seller closing
below resistance also actually you can
see it's actually actually a false break
as well the market actually took out
this highs and quickly reverse back in
to below resistance this looks like
number one but anyway yeah so this is a
valid entry trigger to go long telling
you that the sellers are in control so
what you can do is again to enter on the
next candle open so again uh the next
candle open at this price point let's
put this as green right to 6 near to
signify
that is our entry point okay I know this
is quite a few black lines over here I'm
going to remove some of them so you can
see better okay now what about our stop
loss so in this case again you can pull
out the ATR indicator the average true
range indicator I'll just do this one
more time so what we are trying to do
over here is to set our stop loss a
distance away from the resistance
because we want to get stopped up
prematurely so what you'll do is again
find out what is the high over here and
add on right by this number of uh ATR
value in this case is about 45 Pips so
let's do a quick calculation the high of
this candle currently it shows that it's
about uh let's see seven eight eight
five okay so 7885 you plus 45 Pips right
that gives you 7930 so your stop loss
will be placed at 0.7930 so I'll change
this to rate okay and 0.7930 got it okay
so that is your stop loss level all
right this over here is your stop loss
so basically how you interpret that stop
loss level is that from this high
one ATR okay get on one ATR is equals to
this level that you're seeing on the
chart over here next thing right where
is your target so if you look at Target
right there are two levels that showing
up over here one is this recent swing
low and this one is more of an extreme
further away right the swing low so in
this case usually I like to have a first
a conservative Target over here so in
this case you can actually have your
trade right all exit at this swing low
there's a perfectly you know valid uh
thought process
okay but at the same time right let me
just remove the indicator at the same
time some of you might be thinking but
right now if you look at this market
right if you look back this Market is
actually in the downtrend right now and
the price tends to break below this low
break below this low break below this
low because you look at this the price
over here it breaks below this low and
then it makes a pullback so won't we
like you know be giving up some
potential profits because we can still
look to capture this additional bit of
the move right as the market breaks down
lower lower right so that's a fair
thought right so actually what you can
do in this case is actually to have two
Targets one is a more conservative
Target and one is a further Target so
let me share with you how to do this so
in this case your first Target can be
over here okay this is your first Target
let me just change this to Blue let's
call this target one right tp1 okay and
you can have a second further Target
right as you know the market is in a
downtrend it could break below the lows
and go a little bit further so in this
case this is the extreme low over here
for all you know this Market could
possibly you know break below this
extreme low right and then make a
pullback so you want to kind of like
take your
somewhere about here right where you can
get the most bang of for your buck well
how do you do this all right so how can
you do this objectively so what you can
do is you can use a tool right called a
Fibonacci extension right and look to uh
exit right at a just before the 127
extension so I'll just get out show you
what I mean look at Trend based flip
extension click on this you draw it from
the swing High to the swing low and back
up high again swing this is the swing
High down to this extreme low and then
up higher again okay so once you do that
you can see that over here I can see
over here other over here I'll just
manipulate this chart a little bit okay
you can see over here I want you to pay
attention to this level over here this
is what we call the 127 extension and
over here is an objective way where you
can look to set your second target so
I'll just draw a second blue line over
here just before the 127 extension maybe
somewhere about here okay so let's see
what happens next right so in this case
right uh I'll just remove the feedback
extension since it looks a bit messy but
at least you know you know how this
second blue line come about we actually
use the Fibonacci extension to kind of
like project right where the price could
go right so we can just take advantage
of that extra little Pips right as the
market breaks down lower so what I mean
by this is that example this is a swing
low Market break this Swing Low by quite
a little bit before it makes a pullback
so the question is where exactly right
do you take profits right as the market
breaks down lower so this Fibonacci
extension gives you that a little bit of
objectivity to it okay so I'm just going
to remove this extension first and see
what happens so in this case the market
you can see that it pretty much went
lower over here and hit our first Target
relatively quickly Market continue down
lower
over here almost reaching our Target
here and didn't quite and now it's
making a pullback
and as you can see this is how the
market is right now so at this point in
time right so what you can do is
actually you know your stops really in
place your first Target is really taken
and your stop loss is already at a
logical level it's still over here so
what you can do is again leave your stop
loss as it is right and let the market
either you know hit your this second
target or hit your stop loss right
because there's really no point you know
trying to shift your stop loss right to
break even because again there's a good
chance you could get your stop loss hit
at break even so what many Traders like
to do in this case is that they set
their stop loss to let's say Break Even
they bring their stop loss down to their
entry point but to me that's not really
very logical because there is no like
kind of like barrier right because this
is an area of resistance if the market
comes up higher and it hits down lower
you can see that in this case you will
get stopped up on your trade right on
the second half of the position and the
market eventually hits your Target and
you're not in it because you know you
got you're given to your fear so usually
what I do is that you know my stop loss
is really at a logical level I'll leave
it as it is my target is uh at this
point over here I know I almost got
filled on the trade but I didn't quite
so I'm just gonna leave my plan as it is
either it's going to hit my stop loss or
hit my target I already taken partial
profits on this first Target over here
so even if the second position hit my
stop loss hey guess what this overall
trade will not really be a loser it
probably could be more of a break even
trade or a very very tiny loss so at
least that's my top process to how I
would you know go about handling this
trade
alrighty let's have a look at another
example in fact I'll give you five
seconds look at this chart and analyze
right where is the potential trading
opportunity I'll give you five seconds
three four five okay let's get started
right so this is actually a weekly time
frame dollar against the Indian rupee on
the weekly timeframe so I don't usually
trade the weekly timeframe but you can
see that the strategies I'm sharing with
you right can be traded across different
time frames so this one over here right
notice this is the area of resistance
and what do you what price action do you
see as the price approach resistance if
you say a crawler move into resistance
you're right all right so you can see a
series of higher lows higher lows coming
into this area of resistance so if you
ask me right there's a good chance this
Market could break out higher so now
where exactly do we enter where do we
set our stop loss how do we exit the
right this trade if it moves in our
favor fantastic question so let's get to
it so one potential a trading setup that
you can consider is to have the market
right break and close above resistance
so let's say
uh let's say I just have this line over
here right horizontal line let's put it
here in Black let's say if the market
area of resistance and it breaks and
close above it that will be a valid
entry trigger to go long right so you
can enter on the next candle open let's
say somewhere here is for entry
now what about your stop loss so where
at this point right would this breakout
trade be so-called a failed breakout
right there are a couple of ways you can
set your stop loss but if you want to be
a little bit more aggressive you want to
get a
tighter risk to reward a rather a more
favorable risk to reward on your trade
you can set your stop loss right
somewhere about here okay around the 82
price point because if you think about
this if the market reaches your entry
price over here it breaks out and the
next few candles it goes back into this
uh so-called range you know that the
breakout is filled right if not you know
it wouldn't have you know come back into
this range or you know into back into
this ascending triangle pattern if you
want to call it right so you can set
your stop loss somewhere about here now
what about your exits where do you take
profits if the market moves in your
favor great question right and because
if you look at this Market structure of
this currency pair you look left it's
quite insane it's actually in a multi
decade right long-term uptrend I'm just
going to zoom out you can see since the
1980s right the dollar against the
Indian rupees and bring them few very
long-term uptrend so of course I don't
expect you to write such a long-term
uptrend Because by the time you'll be a
grandpa already so what you can do
instead is just to write a short-term
uptrend and one way to go about it is to
actually use the 20 period moving
average so you can see this red line
over here so what happens is if the
market let's say it breaks out the
higher okay you go long names goes up
higher in your favor then this red line
right will naturally the 20 period
moving average the 20-week moving
average will naturally move up along
with it and if it closes below it okay
let's say closes below the 20 week
moving average then you exit the trade
so I'll just take you back a few
examples you can see right it has
happened a few times over the last few
years right so you see for example just
illustration purposes yeah okay so if
you look at this this let's say we had a
breakout over here okay let's say your
stop loss is you know within below
resistance let's say somewhere here okay
and notice
uh let's say this is the exit that you
have right notice the market at this
candle pretty much break and close below
the uh 20-week moving average so this is
where you exit over here so in other
words in this particular example okay
cherry pick example dirt as you can see
your entry is here e right and your TP
is kind of like over here right you'll
take profit is over here so you actually
did write this kind of like short wave
up higher what if right what if right is
a bonus section right what if the market
doesn't break out in fact it's not
consolidate and comes down lower
well actually if you've been paying
attention earlier there's another
potential trading opportunity right let
me highlight it to you so let's say okay
uh you know that this is an area of
support
so if the market comes let's say a power
move right just learn the power move
boom right comes into this area of
support guess what are you looking too
long or short Market
give you three seconds one two three
answer is you should look for buying
opportunities because you can look for a
reversal right up higher
and thereby allowing you to capture that
one swing up higher into resistance and
again with proper uh trade management
it's possible right to exit a portion of
your trade at this highs and then to let
the remaining half right even higher so
I don't get into this uh Starfire
because it's outside of this scope of
this video but what you can look for
right for a potential trading
opportunity in this case is again very
simple I'll just walk you through
quickly let's say the market comes into
this uh area of support it can look for
something as simple like a hammer
Candlestick pattern a bullish reversal
Candlestick pattern you go along on the
next candle open stops the distance
below the lows possible Target just
before resistance right you know to
capture that first Target yeah okay if
you have enjoyed this training so far
then you will love right this book
called price action trading Secrets it's
a 142
color pages right trading book where
you'll discover price action trading
strategies right and you know to help
you become a consistently profitable
Trader so you learn things like you know
how to draw support and resistance
identifying you know key reversal
Candlestick patterns risk management
position sizing breakout trading
strategies you know pullback trading
strategies and much more so I'll put the
link somewhere below this video so you
can grab a copy for 1990 right we will
ship this book to almost anywhere in the
world and 1990 includes your shipping
fee as well so that's it that's it right
so I'll put the link somewhere below
this video grab a copy if you are
interested and I will
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