How to trade Binance Future Trading support and resistance Part2

Summary

In this part two of the video series, the host outlines a strategy to turn fifty dollars into ten thousand by trading the Futures Market. The video includes a recap of previous predictions, a detailed analysis of support and resistance levels, and a demonstration of leveraging trades for significant gains. The host emphasizes the importance of technical analysis, showcases a 300% return on a trade, and invites viewers to join a Discord server for early access to trading signals and community support. The video concludes with a preview of part three and an invitation to trade on Buy Bit for potential welcome bonuses.

Takeaways

• 📈 The video series aims to turn fifty dollars into ten thousand dollars by trading the Futures Market.
• 🔄 The speaker recaps the previous video, emphasizing the importance of watching the series from the beginning for continuity.
• 📊 The market's behavior is analyzed using technical analysis, particularly focusing on support and resistance levels.
• 📉 A prediction was made in the previous video about the market dropping, which was based on the market touching key support levels multiple times.
• 💡 The speaker highlights a general rule in technical analysis: if the market touches a specific level more than three times, it's likely to break it on the fourth attempt.
• 🤑 The video demonstrates how leveraging can significantly amplify profits, as shown by the 300% return on a trade using 12x leverage.
• 🚫 The speaker mentions the missed opportunity in the previous trade due to using a limit order instead of a market order, which left them behind as the market moved quickly.
• 🔄 The video includes a walkthrough of closing a previous trade and placing a new one based on the current market conditions and analysis.
• 🔗 The speaker promotes a preferred broker, Buy Bit, and mentions a private Discord server for sharing trading ideas and signals before they're published on YouTube.
• 📉 The market's potential to form a bear flag and drop further is discussed, suggesting a short-term long position with a take profit at specific levels.
• 🔄 The speaker admits a mistake in placing a trade without using the full collateral, leading to a reduced profit and the decision to retake the trade in a future video.

Q & A

What is the main goal of the video series?

The main goal of the video series is to demonstrate how to turn fifty dollars into ten thousand dollars by trading in the Futures Market.

What is the significance of support and resistance in the video?

Support and resistance are key technical analysis concepts used to predict the market's direction. The video discusses how the market is expected to behave based on these levels.

What does the speaker predict will happen to the market after touching a key level multiple times?

The speaker predicts that the market will likely break the support level after touching it more than three times, leading to a drop in the market.

What leverage was used in the trade mentioned in the video?

A 12x leverage was used in the trade discussed in the video.

Why was the trade not caught in the previous video?

The trade was not caught in the previous video because a limit order was used instead of a market order, causing the market to move too quickly and leave the order behind.

What is the speaker's preferred platform for trading Futures?

The speaker's preferred platform for trading Futures is Buy Bit, although the video series focuses on trading on Binance.

How does the speaker suggest joining the trading community?

The speaker suggests joining the trading community by trading on Buy Bit using the link provided in the video description, which also gives access to a private Discord server.

What is the purpose of the Discord server mentioned in the video?

The Discord server is used to share trading ideas and signals before they are published on YouTube, allowing members to make informed decisions quickly as the market moves fast.

What is the potential mistake the speaker made while placing a trade in the video?

The potential mistake made while placing a trade was not using the full collateral amount, which resulted in a smaller profit than expected.

What is the speaker's strategy for taking profit in the market?

The speaker's strategy for taking profit involves placing limit orders to sell when the market reaches a predetermined price, based on technical analysis and support/resistance levels.

What does the speaker suggest for those interested in trading alongside him?

The speaker suggests using the link in the video description to start trading on Buy Bit, which will also grant access to the Discord group for early market analysis and trading signals.