HOW TO DRAW PERFECT DEMAND AND SUPPLY ZONES(SUPPORT AND RESISTANCE) IN THE FOREX MARKET

Summary

KP, the gold trader known as 'the badest,' introduces a strategy for Forex traders to draw perfect demand and supply zones on gold charts, emphasizing their importance for identifying market turning points. He demonstrates the process using gold as an example and encourages viewers to test the method across different currency pairs. KP promises to share more trading insights and skills in future live sessions, aiming to help traders become profitable, especially in the gold market.

Takeaways

• 📈 The speaker, KP, focuses on teaching how to draw demand and supply zones in the forex market, particularly using gold as an example.
• 🏆 KP is known as 'the gold badest' and emphasizes the importance of mastering this skill to become a profitable trader.
• 📊 The strategy involves looking at higher time frames such as monthly, weekly, and daily to identify key demand and supply zones.
• 📌 KP suggests marking the top and bottom of the second last candlestick on the chart to define the zones, treating them as areas rather than single lines.
• 🔄 The process of identifying these zones should be repeated across different time frames to confirm their significance and strength.
• 📉 KP mentions that the zones act as turning points in the market, indicating potential reversals or continuations of trends.
• 🔍 He encourages traders to backtest the strategy with other currency pairs to verify its effectiveness before applying it to daily trading.
• 📝 KP offers a class to learn the 'badest' strategy in detail and provides his WhatsApp number for interested individuals.
• 📈 KP highlights the importance of recognizing the market's behavior when it hits these zones, as it can indicate potential turning points.
• 🚀 He announces live trading sessions on YouTube to demonstrate the concepts and skills necessary for profitable forex trading, especially with gold.
• 📢 KP invites viewers to subscribe and join his live sessions, positioning himself as a leading figure in forex trading education.

Q & A

Who is the speaker in the video script?

The speaker in the video script is KP, who is also referred to as 'the gold badest' because he specializes in trading gold.

What is the main topic of the video class?

The main topic of the video class is teaching viewers how to draw perfect demand and supply zones in the Forex market.

Why is KP using gold as an example in his class?

KP is using gold as an example because he trades gold exclusively, but he encourages viewers to apply the strategy to other currency pairs as well.

What is the first step in drawing demand and supply zones according to KP?

The first step is to go to a higher time frame, specifically the monthly time frame, and mark the top and bottom of the second last candlestick.

How should the demand and supply zones be treated when drawing them?

The demand and supply zones should be treated as areas or zones rather than straight lines.

What is the significance of the second last candlestick in identifying demand and supply zones?

The second last candlestick is used to identify the high and low points that define the demand and supply zones, excluding the current candlestick that is still forming.

Why is it important to test the strategy before applying it to daily trading?

Testing the strategy before applying it to daily trading helps to confirm its validity and effectiveness, ensuring that it works as expected in real market conditions.

What does KP suggest doing after identifying the demand and supply zones?

KP suggests moving to a lower time frame, such as the 4-hour chart, to observe if the market has historically taken turning points when hitting these zones.

What is KP's strategy called and how can viewers learn it comprehensively?

KP's strategy is called 'badest'. Viewers can learn it comprehensively by joining a class, the details of which can be found in the pinned WhatsApp number in the comment section.

How does KP demonstrate the effectiveness of his strategy?

KP demonstrates the effectiveness of his strategy by showing how the market has reacted to the demand and supply zones in the past, and by going live on YouTube to show the application of the strategy in real-time trading.

What is the purpose of sharing this strategy according to KP?

The purpose of sharing this strategy is to help traders, particularly those interested in the Forex market, to improve their trading skills and potentially become profitable.