How To Trade This Week - (How To Win In Trading)

Summary

In 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

• 📈 The video discusses market analysis, focusing on the Dollar Index and various currencies.
• 💡 The presenter shares personal market observations and experiences, not financial advice.
• 📉 The Dollar Index is analyzed on a daily timeframe, showing a downward trend with lower highs and lows.
• 🔍 The presenter identifies a double top structure in the Dollar Index, suggesting a potential further decline.
• 💷 In the GBP/USD currency pair, an upward trend is observed with higher highs and lows.
• 📊 The video demonstrates how to spot trend reversals and continuation patterns in GBP/USD.
• 📈 The presenter discusses potential entry and exit points for trades, emphasizing the importance of good entry for managing risk.
• 📊 For USD/JPY, the analysis includes looking for a break above a certain area as a potential entry point.
• 📉 Gold is highlighted as being in a clear upward trend, reaching historical highs.
• ⏳ The presenter advises waiting for retracements before considering buying gold, looking for continuation patterns.
• 🤝 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

00:00

📈 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.

05:01

📊 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.

10:01

🏆 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.

Keywords

💡Dollar Index

The Dollar Index is a measure of the value of the United States dollar relative to a basket of foreign currencies. In the video, the presenter uses the Dollar Index to analyze the performance of the US dollar in the global market, highlighting its downward trend and its implications for trading strategies.

💡GBP/USD

GBP/USD refers to the currency pair for the British pound sterling and the United States dollar. The video discusses the price movements of this currency pair, noting its upward trend and using it as an example of how to identify and capitalize on trading opportunities.

💡Double Top Structure

A double top structure is a technical analysis chart pattern that suggests a reversal in an asset's price. The video mentions this pattern in relation to the Dollar Index, indicating that the price failed to break above a certain level, signaling a potential downward trend.

💡Resistance

Resistance in trading refers to a price level where selling interest is expected to be strong enough to prevent the price from rising further. The video discusses resistance as a level where the presenter would consider selling or waiting for a price drop before buying.

💡Support

Support is the price level where buying interest is expected to be strong enough to prevent the price from falling further. In the video, support is discussed as a level at which the presenter might consider buying, expecting the price to rebound from that level.

💡Fake Out

A fake out in trading is a deceptive price movement that leads traders to believe the trend is reversing, only for the price to continue in the original direction. The video describes a fake out in the GBP/USD currency pair, where the price acted as if it was breaking out but then reversed sharply.

💡Double Bottom Structure

A double bottom structure is a technical analysis chart pattern that suggests a reversal from a downtrend to an uptrend. The video uses this pattern to illustrate a potential buying opportunity in the GBP/USD currency pair after the price failed to break a lower level.

💡Retracement

Retracement refers to a price movement that is in the opposite direction of the main trend. In the video, retracement is mentioned as a potential buying opportunity, where the presenter would wait for the price to pull back before entering a trade.

💡Stop Loss

A stop loss is an order placed with a broker to sell a security when it reaches a certain price. The video discusses setting stop losses to limit potential losses in trades, emphasizing the importance of risk management in trading.

💡Take Profit

Take profit is an order placed with a broker to sell a security when it reaches a certain price, aiming to lock in profits. The video mentions take profit levels as part of the presenter's trading strategy to secure gains on trades.

💡Continuation Pattern

A continuation pattern in technical analysis indicates that the current trend is likely to continue. The video discusses a pattern that suggests the price of gold is likely to continue its upward trend after a brief correction.

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