How To Trade This Week - (How To Win In Trading)
Summary
TLDRIn this YouTube video, the host discusses market trends, focusing on the Dollar Index and currencies like GBPUSD. They analyze price movements, highlighting key support and resistance levels, and share personal trading insights without offering financial advice. The host also covers strategies for identifying entry and exit points, emphasizing the importance of understanding market patterns for successful trading.
Takeaways
- đ The video discusses market analysis, focusing on the Dollar Index and various currencies.
- đĄ The presenter shares personal market observations and experiences, not financial advice.
- đ The Dollar Index is analyzed on a daily timeframe, showing a downward trend with lower highs and lows.
- đ The presenter identifies a double top structure in the Dollar Index, suggesting a potential further decline.
- đ· In the GBP/USD currency pair, an upward trend is observed with higher highs and lows.
- đ The video demonstrates how to spot trend reversals and continuation patterns in GBP/USD.
- đ The presenter discusses potential entry and exit points for trades, emphasizing the importance of good entry for managing risk.
- đ For USD/JPY, the analysis includes looking for a break above a certain area as a potential entry point.
- đ Gold is highlighted as being in a clear upward trend, reaching historical highs.
- âł The presenter advises waiting for retracements before considering buying gold, looking for continuation patterns.
- đ€ The video concludes with a recommendation for a trading broker and an invitation to join a Telegram group for more detailed analysis.
Q & A
What is the main focus of the YouTube video transcript?
-The main focus of the YouTube video transcript is to analyze various financial markets, including the Dollar Index and specific currency pairs like GBPUSD, and to share the presenter's personal trading insights and experiences without providing direct financial advice.
What does the presenter mean by 'not financial advice'?
-The presenter clarifies that the content is for educational purposes, sharing personal experiences, and not to be construed as direct financial advice or instructions on what actions to take in the market.
What is the significance of the Dollar Index mentioned in the transcript?
-The Dollar Index is significant as it reflects the value of the United States dollar relative to a basket of foreign currencies, which is crucial for traders and investors to gauge the strength of the dollar in the global market.
How does the presenter analyze the movement of the Dollar Index?
-The presenter analyzes the movement of the Dollar Index by examining its price trends on a daily time frame, identifying patterns such as lower highs and lower lows, and discussing potential future price movements based on these patterns.
What is the 'double top structure' referred to in the context of the Dollar Index?
-The 'double top structure' is a technical analysis term referring to a chart pattern that suggests a bearish reversal in the trend, where the price reaches a high point twice but fails to surpass it, indicating potential downward movement.
What is the significance of the GBPUSD currency pair in the video?
-The GBPUSD currency pair is significant as it represents the exchange rate between the British pound sterling and the United States dollar, and the presenter uses it to demonstrate trading strategies and analyze price movements.
How does the presenter describe the price action in GBPUSD?
-The presenter describes the price action in GBPUSD as a series of higher highs and higher lows, indicating an upward trend, and discusses a potential 'fake out' scenario where the price acted as if it broke out but then reversed direction.
What is the concept of 'fake out' in trading as mentioned in the transcript?
-The 'fake out' in trading refers to a price action where the market appears to break out of a pattern or level, tricking traders into thinking a new trend is starting, only to reverse and move in the opposite direction shortly after.
What trading strategy does the presenter suggest for the GBPUSD pair?
-The presenter suggests looking for entry points in the GBPUSD pair by identifying support and resistance levels, waiting for price retracements, and using technical analysis patterns to time entries and exits.
What is the importance of the '4-hour chart' in the presenter's analysis?
-The '4-hour chart' is important in the presenter's analysis as it provides a medium-term perspective of price action, allowing them to identify trends and potential reversal points that may not be as apparent on shorter or longer time frames.
How does the presenter approach the analysis of the gold market?
-The presenter approaches the analysis of the gold market by examining its upward trend over an extended period, looking for retracements as potential entry points, and considering historical price levels to assess the current market situation.
What does the presenter mean by 'continuation pattern' in the context of gold?
-A 'continuation pattern' in the context of gold refers to a chart pattern that suggests the current trend (in this case, upward) will continue. The presenter looks for such patterns to identify potential opportunities to enter trades in the direction of the prevailing trend.
Outlines
đ Market Analysis and Trading Strategy
The speaker begins by welcoming viewers to their YouTube channel and introduces the topic of market analysis. They discuss the Dollar Index and various currencies, emphasizing that the content is for educational purposes and not financial advice. The speaker shares their personal trading experiences and encourages viewers to like and subscribe. They analyze the Dollar Index on a daily timeframe, noting the downward trend and potential for further decline. They also discuss the GBP/USD currency pair, highlighting a potential double top structure and a fake breakout that led to a significant price increase. The speaker shares their approach to identifying entry points, stop losses, and take profits, and stresses the importance of these elements in successful trading.
đ Detailed GBP/USD and USD/100 Analysis
In this section, the speaker delves deeper into the GBP/USD pair, describing the upward trend and the formation of higher highs and lows. They point out a fake out at the third touch point that led to a sharp price increase. The speaker then discusses potential entry points, stop losses, and take profit levels, using technical analysis to support their points. They also touch on the USD/100 pair, showing a recent trade that resulted in profit and discussing the importance of identifying support and resistance levels. The speaker advises on waiting for price retracements before entering trades and emphasizes the need to evolve and adjust strategies as the market progresses.
đ Gold Market Overview and Trading Outlook
The final paragraph focuses on the gold market, with the speaker noting the clear upward trend throughout the year. They mention historical price levels and suggest that holding gold has been profitable. The speaker discusses potential trading strategies for gold, such as waiting for price retracements and using continuation patterns to identify entry points. They advise on setting stop losses and take profits and acknowledge the possibility of trade failures, emphasizing the importance of adapting to market changes. The speaker concludes by encouraging viewers to join their Telegram group for more detailed discussions and to consider using their recommended broker for trading. They end the video with a positive outlook for the week, motivating viewers to believe in their trading strategies and execute their trades with confidence.
Mindmap
Keywords
đĄDollar Index
đĄGBP/USD
đĄDouble Top Structure
đĄResistance
đĄSupport
đĄFake Out
đĄDouble Bottom Structure
đĄRetracement
đĄStop Loss
đĄTake Profit
đĄContinuation Pattern
Highlights
Introduction to analyzing the markets with the Dollar Index and various currencies.
Emphasis on the educational nature of the content, not financial advice.
Explanation of the downward trend in the Dollar Index on the daily time frame.
Identification of a potential double top structure in the Dollar Index.
Analysis of the GBP/USD currency pair with a focus on higher highs and lows.
Discussion on how to spot fake breakouts and capitalize on upward trends.
Use of support and resistance levels to identify entry and exit points.
Importance of entry points for calculating stop losses and lot sizes.
Review of a recent trade on the USD/100 with a focus on trend continuation.
Explanation of the concept of 'fake outs' in trading and how to identify them.
Highlight of gold's upward trend and its historical high prices.
Advice on waiting for retracements before entering a trade in gold.
Recommendation to join the Telegram public group for more in-depth analysis.
Endorsement of a trading broker and a link to sign up.
Prediction of a profitable and successful week ahead for viewers.
Encouragement for viewers to believe in their trading setups and execute their trades.
Closing remarks and invitation to the next YouTube video.
Transcripts
what's happening what's good I hope
you're doing well welcome back to my
YouTube channel so what's happening now
is that we're going to be looking at the
markets I've got you the dollar Index
I've got some indexes I've as well got
some um currencies that we're going to
be looking at this is the type of
information that you actually do
appreciate whenever I put out there so
what's happening is that yes I did
mention we're going to be looking at the
market but not only just that I'm going
to be showing you what I see for the
week you know um how I see that and most
importantly you know how I'm going to go
about you know maybe executing some of
the threats but mind you guys um when
you seeing this it's not Financial
advice it's not me you know um telling
you what to do it's just me sharing my
personal experience with you so that you
can learn from my journey and my
experiences so obviously if you believe
that this video is going to be available
to you make sure already that you like
this video subscribe to my YouTube
channel and let us get started guys so
what I have right here in front of me is
the dollar Index so I'm going to start
off first with the daily time frame
right here and you can simply see all
the way price has been moving downwards
lower low lower high lower low here
lower high and a lower low now basically
lower high and at the same time you can
see that price looked at reaching here
which is our lows and eventually we did
reach that low and secondly you can see
that we've got this area being our
second low meaning that if price like
now I can already see that price failed
to have broke um Above This lower high
which here you can simply see that it's
almost like a double top structure but
at the same time once price breaks below
this low there's a higher chance that we
are coming all the way down here in
terms of on The Daily time frame so that
is the daily time frame in terms of you
just being able to see how the dollar
Index works but what I will do now is I
just want to quickly go into
gbpusd and then from GBP USD we are also
going to take it to the you know um next
move so here with GBP USD you can see
the price has been higher high higher
low higher high higher low and it's all
higher high and a higher low which is
right here and um with that being said
you can simply see also had this be our
first point second point and as here at
the third point one thing that I like
about this is that once price came here
at the third point right here you can
simply see that instead of it literally
just touching and going back up it
actually acted as if like it broke out
which is now a fake out and then from
there um price started shooting upwards
massively so a lot of people would have
maybe missed out on this move but for us
I'll just show you how we can go um how
we actually went about you know catching
it but at the same time how we can even
go forward with
this okay so
I'm just going to do this here but you
can simply see that with this um we've
got this here be our first touch we've
got this right be our second touch so
obviously just by expanding and being
able to look at this section more like
this you can easily see that it's much
more easier for us to spot the first
touch obviously second touch and as well
third touch but not even just that the
most important thing that I like about
this is that as soon as price got right
at the bottom it presented more like a
double bottom structure which means that
price came one here at this level it
went up and then it came back once again
here at this level but because it
couldn't break the low then TR started
shooting upwards massively cuz you can
see this candle that followed it went
upwards and right here um even if just
um by looking at the expansion or
extending this uh Channel you can simply
see price now when it go get the
resistance it played a bit played a bit
then eventually it broke out and then
this came back as a retest and then went
up so now um where are we So currently
obviously we still in that upward Trend
we're looking at capitalizing more on
the upward Trend and just by me adding
my on my 4our chart just adding this
like this real
quick just like this okay you can simply
see we've got this area be our first our
second and now here being our third
touch and as here our first our second
and here obviously being our third touch
so obviously it wouldn't be wise to buy
um when price is more expensive so it
only be nice to buy it at resistance so
you'd rather wait for Price actually to
push downwards so one of the best ways
obviously if you're looking into taking
a three somewhere here on the 15 minute
on the 5 minute you can easily get a
threade more like this which is a
shortterm trade CU remember we're
looking at this moving upwards but you
can still capitalize like you know 7.6
percentages on this but at the same time
what we looking for
is can see once price went above it
broke um this was a lower high
higher high it broke the previous lower
high which is right here and then price
came to retest somewhere here and then
price now started pushing upwards so one
of our first entries could either be
here where price is going to come here
then we'll be able to have our stop
losses just below here then we still
going to be able to go upwards with it
so we'll be able to see where exactly is
price looking to go using the um you
know all state old structure sorry about
this using old structure you know just
going all the way back like you can see
this is our resistance here so our next
resistance zone is here so you can
simply see more like this
okay there we go just like this so this
could be our first entry in terms of
this buy taking um the take profit here
18% but even if that doesn't happen
maybe price goes just a bit below and it
comes all the way down here obviously
now it will present a beautiful double
bottom structure and that will make much
more better sense for as to actually buy
it um buy it somewhere here you know
stop loss obviously just a bit below
here and even if we look to Target yet
the resistance we've already made over
3% and still if we look to you know go
all the way up to here we still can
capitalize close to 12% but at the the
most important thing is how you catch it
your entry matters more because with
entry that's where you'd be able to see
where your stop loss is going to be at
and your stop- loss it will help you be
able to calculate the lot size that you
are going to use and with that being
said that's when you know the rest to
reward is actually going to be playing
um a place or it's going to be coming
into place so now let us take a look at
us
[Music]
100 perfect so you can see us 100 we
also had a trade just a few days ago
executed went all the way up we took
profit and basically looking for Price
maybe to come back down but let me just
come from more like a daily time frame
so you can see price was like moving
upwards upwards upwards boom then it
broke below here went all the way down
close to at the 90% rule then now price
started moving upwards so let me just
come back down to the 4 Hour so here
what you can see now is obviously price
is now you know lower low lower high
lower low lower high then y started
changing meaning that it presented it
broke here lowest high and then they
created high high then went a bit low
and then boom it broke the that previous
High lowest high and then now it just
started going upward highs and stuff and
you can see this was our previous lower
high it broke it here and now it just
went a bit more down to retest so what
we can do now is we can now start seeing
in terms of where exactly is price
looking to go so with what I'm seeing
I'm just going to do this let me remove
this as well let me remove this and this
okay and then um what we'll do is that
we'll be able to spot this cuz with what
I'm seeing this has been an up low up
and now this being a low so obviously
I'm looking for price to go all the way
up and break above this so I'm looking
for price to break above this area which
means that this can be my first take
profit okay so this since this is our
lowest area which is our support which
means that now price would be it will
make much more better since if price
actually push down for us to buy
somewhere here cuz if we able to buy
here that's when you would be able to
get price cheap meaning that if we able
to buy somewhere around here um and stop
loss just below
here and take profit somewhere here you
see they already we looking at a 12% um
you know return on this trade but at the
same time even if I just go and then I
extend this you know so with this it
will help me be able to just spot the
third touch mean the price may just come
boom get here and then maybe maybe press
can start going up as you know break
above here and even go above more beyond
go above but this is where you might
even see the those fake outs mean the P
can just boom go down go down boom and
then someone thinks that it's a breakout
and then it comes down here and then now
it's a change of trend you know then it
starts going back upwards you know this
is some something that we can see so you
need to open your eyes towards such
things so if such moves actually do
happen you're able to understand and
know but at the same time this is the
markets you need to be able to evolve
and adjust as it moves as it progresses
in the right direction so that's one of
the best ways that you can go about
looking at it so now let us go on the
last one which is
gold okay on gold so with gold you can
see this has been a clear uper Trend
without even going back and forth since
since like the whole year basically it's
been a clear upper Trend let just see
here January basically since like what
years ago basically yeah since 2022 all
the way up this is now at the most
highest price has never been this side
but it's now High um just like this let
me just see in terms of has never been
the side ever in the history of gold or
what let's see
yes you can simply see that here price
has never been this High cuz price
started just going here in 72 in 79 in
84 in 2000 in 2010 2020 and now 2024
which is here at the most highest mean
that if you've bought and held gold you
know obviously red KN means that you are
now making at the peak of of of making
profits you know so with this um
currently it's a bit too steep in terms
of us just looking to buy it right where
it is
so it's much more better to wait for
those retracements with that being said
obviously I'm going to you know um I can
see the price higher high higher low and
then price start playing above above
somewhere above here so I just wait for
price to at least come close to the
support area which is here obviously
also if I just add a Channel or add a
pattern you guys know I love patterns a
lot if I add a pattern more like this
and as all more like this you can see
that this is more on a continuation type
pattern which means the price went
upwards corrected a bit and now the
impulsed more upwards but what I'm
looking for is at least price to retrace
come back somewhere here and then once
it gets here that's when i' be able to
just come you know have stop loss be a
bit more below and even take profit can
still be back where you know it used to
be our way um the highest point is and
even if this trade actually does um fail
it does not work out so okay you know um
we'll just basically evolve and see what
the market is doing at that time but for
now this is just what I wanted you to
see I'm not going to go as deep as the 1
hour time frames Because by the time you
watch this video find out that it has
already progressed beyond the 1 hour
time frame or the 15 minutes obviously
this you know I'm going to share more
deeper into details with members that
are in the telegram public group so make
sure that you're in our telegram public
group the link is going to be in the
description one of the first links
that's going to be in there and then
obviously guys um I know most of you are
clearly looking for a broker you know
that you can trade with a broker that
you can trust and as a a Brooker that
you can easily withdraw and get your
funds as quick as possible I've been
trading with markets and I'm excited
with them you as well can trade with
them I'll also make sure that I leave
the link in the description so make sure
that you do check them out but one thing
that I would say is that this week is
going to be a profitable week this week
will be a successful week all because
you believe in yourself all because you
believe in the setups that you're
looking believe in the um trade ideas
that you're actually following and most
importantly you do execute on those uh
you do execute on those trades I'll see
you guys on the next YouTube video it is
your boy mupi make sure that you like
and as well subscribe to my YouTube
channel I will see you guys on the next
YouTube video
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