MALAYSIAN SNR FULL STRATEGY NO BS 2024

Summary

This video tutorial delves into the concepts of support and resistance areas in trading, offering insights on how to identify and utilize these zones for profit-taking and anticipating market movements. The presenter emphasizes the importance of recognizing high momentum trades and provides practical examples using SNR (Support and Resistance) indicators. Viewers are guided on setting stop losses and identifying entry points, with a focus on confirming breakouts on lower timeframes for safer trading decisions. The content is educational and not financial advice, highlighting the need for personal risk management.

Takeaways

• 😀 The video aims to educate viewers on how to use support and resistance areas in trading.
• 👍 The presenter encourages viewers to subscribe to not miss out on future videos.
• 📈 Support and resistance areas are identified as barriers or 'ceilings' and 'floors' where prices struggle to break through.
• 📊 Resistance areas are typically marked by an up candle followed by a down candle, and support areas by a down candle followed by an up candle.
• 🔍 Momentum is an important factor when identifying these areas, especially for high-momentum trades.
• 🚫 Not all visible areas on a chart should be used; it's crucial to know where and when to apply them.
• 🎯 The presenter uses specific examples, including Ethereum's price movements, to illustrate the concepts.
• 📝 A standard stop loss of 30 or 35 pips is suggested for risk management in the current market conditions.
• 🔄 The video discusses scaling down to lower time frames for confirmation of trades and entry points.
• 📉 The presenter anticipates a sell and explains how to identify potential entry and exit points using support and resistance areas.
• 💡 The video concludes with a reminder that the content is for educational purposes only and that trading is at the viewer's own risk.

Q & A

What is the main topic of the video?

The main topic of the video is explaining how to use support and resistance areas in trading, as well as how to determine take profit levels and anticipate market movements.

What does the acronym 'SNR' refer to in the context of the video?

In the video, 'SNR' refers to Support and Resistance, which are key concepts in technical analysis for identifying price levels where the asset's price tends to stop and reverse.

How is an area of resistance typically formed according to the video?

An area of resistance is typically formed by an up candle followed by a down candle, marking the first candle as the point of resistance regardless of any gap up in the following candle.

What is the importance of momentum when identifying support and resistance areas?

Momentum is important as it helps to confirm the strength of the support or resistance level. A strong momentum in the direction of the support or resistance indicates that the price is struggling to break through that level.

What does the video suggest for a standard stop loss in trading?

The video suggests a standard stop loss of 30 or 35 pips, especially when trading in areas that are forming an all-time high, due to the uncertainty of where the price might retrace or reverse.

Why is it recommended to look for confirmations on lower time frames?

Looking for confirmations on lower time frames is recommended to validate breakouts or reactions from support and resistance areas, especially when the higher time frame areas have been tapped.

What is the significance of the phrase 'your money, your own rules' in the context of the video?

The phrase 'your money, your own rules' emphasizes that any trading decisions made by the viewer are their own responsibility, and the information provided is for educational purposes only, not financial advice.

How does the video suggest traders should approach scaling into trades on lower time frames?

The video suggests that traders should scale into trades on lower time frames based on their comfort level and by using the breakouts or reactions from support and resistance areas as entry points, with a stop loss set accordingly.

What is the potential target for a sell trade as described in the video?

The potential target for a sell trade, as described in the video, is an area of support where the price is anticipated to find a bounce, using the previous highs and lows as reference points.

What does the video imply about the importance of not using every identified support and resistance area?

The video implies that it's crucial to discern which support and resistance areas are relevant for trading and not to use every single one identified on the chart, as some may not be significant or valid in the current market context.

How does the speaker use the example of Ethereum to illustrate the trading concepts discussed?

The speaker uses the example of Ethereum's price action to illustrate the concepts of support and resistance, showing how the price struggles at certain levels and how traders can use these levels to anticipate potential trades and set their stop losses.

Outlines

00:00

📈 Introduction to Support and Resistance Trading

The speaker begins by encouraging viewers to like the video and subscribe to the channel for more content. They introduce the topic of the video, which is to explain the concept of support and resistance areas in trading, as well as how to identify profitable trade opportunities. The speaker emphasizes the importance of understanding these areas for successful trading and provides a brief overview of what will be discussed in the video, including the formation of support and resistance areas and how to use them effectively.

05:00

📉 Detailed Explanation of Support and Resistance Formation

In this paragraph, the speaker delves deeper into how support and resistance areas are formed in the market. They explain that resistance areas are formed by an upward price movement followed by a downward movement, indicating a barrier that prices struggle to break above. The speaker clarifies that the resistance area is marked from the first candle, regardless of any gaps in the following candles. Similarly, support areas are identified by a downward candle followed by an upward candle, showing where the price finds a base to bounce back. The importance of momentum in these areas is highlighted, with the speaker advising traders to focus on trades with high momentum for more reliable signals.

10:01

🚀 Trading Strategy and Entry Points Using Support and Resistance

The speaker discusses a specific trading scenario, using the concept of support and resistance to identify entry and exit points for trades. They mention a standard stop loss of 30 to 35 pips, especially in a volatile market environment where an all-time high is being formed. The speaker provides an example of a trade setup, explaining how to identify potential targets based on support areas and how to scale down to lower time frames for confirmation of breakouts. They also touch on the importance of not using every visible support and resistance area but rather selecting those that are most relevant and have been tested by the market.

📉 Risk Management and Confirmation of Trade Setups

In the final paragraph, the speaker continues to elaborate on the trading strategy, emphasizing the importance of risk management and confirming trade setups. They discuss the use of lower time frames to validate breakouts from resistance areas and to identify potential entry points for trades. The speaker also provides an example of a second entry point after a breakout, explaining how to use open and close prices to determine the strength of the resistance area. They conclude by reminding viewers that the information provided is for educational purposes only and that any trading decisions are at the viewer's own risk.

Keywords

💡Support and Resistance

Support and resistance are fundamental concepts in technical analysis, referring to price levels where the likelihood of a price reversal is high. In the video, the speaker discusses how to identify and use these areas to anticipate price movements and determine entry and exit points for trades. For example, the script mentions 'an area of resistance' as a barrier where prices are unwilling to rise above, and 'an area of support' where prices struggle to fall further.

💡Profit Taking

Profit taking is the strategy of closing a trade to secure profits when a certain price target is reached. The video script mentions knowing 'where to take profit,' which is crucial for managing risk and maximizing gains in trading. It's about deciding the optimal point to exit a trade to lock in profits, which is often related to the levels of support and resistance.

💡Momentum

Momentum in trading refers to the strength or speed at which a price is moving in a particular direction. The script emphasizes the importance of focusing on trades with 'High momentum,' such as a strong downtrend indicating a potential resistance area where the price is struggling to break above.

💡Candlesticks

Candlesticks are graphical representations of price movements over a set time period, typically used in financial charts. The video script uses the terms 'up candle' and 'down candle' to describe specific types of candles that can help form areas of support and resistance, indicating market sentiment and potential reversal points.

💡Rejection

Rejection in the context of trading refers to a price level that the market refuses to surpass, often leading to a reversal. The script mentions 'the rejection that we seeing here,' which is used to illustrate how the price struggles to break above a resistance area, indicating a potential sell signal.

💡Breakout

A breakout occurs when the price moves beyond a previously established support or resistance level, often signaling a strong trend continuation. The video discusses the importance of identifying breakouts, such as 'broke out from this area,' to decide entry points for trades.

💡Stop Loss

A stop loss is an order placed with a broker to sell a security when it reaches a certain price. It is designed to limit an investor's loss on a position. The speaker mentions a 'standard stop loss' of 30 or 35 pips, which is a risk management strategy to protect against excessive losses in volatile market conditions.

💡Pips

In the context of the foreign exchange market, a pip is the smallest amount by which a currency quote can change. The script uses '30 Pips' as an example of a stop loss amount, which helps traders quantify their risk and potential profit targets.

💡Time Frames

Time frames in trading refer to the duration over which price data is analyzed, such as on a minute, hourly, or daily chart. The video script discusses scaling to 'lower time frames' for confirmation of breakouts or trends, which allows traders to refine their entry and exit strategies based on shorter-term price movements.

💡Liquidity

Liquidity in trading refers to the ease with which an asset can be bought or sold without affecting its price. The script mentions using a 'low' as liquidity, which implies that the price level could be a point where there is enough market interest to facilitate trading without significant price impact.

💡Confirmation

Confirmation in trading is additional evidence or signals that support a particular trade decision. The video script talks about looking for 'lower time frame confirmations' to validate a potential trade setup, such as a breakout at a higher time frame, which helps to increase the probability of a successful trade.

Highlights

Introduction to the video with a goal to reach 100, 200, or 500 likes depending on the number of views.

Explanation of how to use support and resistance areas in trading.

Importance of subscribing for updates on trading strategies.

Recap on the formation of support and resistance areas (SNR) for new viewers.

Description of resistance areas as barriers where prices struggle to break above.

Technique for marking resistance areas using the first up candle followed by a down candle.

Explanation of support areas marked by a down candle followed by an up candle.

Emphasis on the importance of momentum when trading with support and resistance areas.

Strategy for using high momentum trades to identify potential support and resistance areas.

Advice on not using every visible area on the chart but selecting significant ones.

Discussion on the current market situation with Ethereum crossing 3,200 and its implications.

Guidance on setting stop loss at 30 or 35 pips in high volatility situations.

Use of daily area resistance for identifying potential sell opportunities.

Method for confirming breakouts and entries using lower time frames.

Strategy for scaling trades on lower time frames for comfort and risk management.

Example of a potential sell continuation and how to target it using support areas.

Final thoughts on using the presented SNR method for trading and seeking further educational resources.

Disclaimer that the content is for educational purposes only and not financial advice.

Transcripts

welcome back welcome back welcome back

to another video let's get this to 100

likes or 200 or 500 likes depending on

how many views we get maybe 20K views

who knows so anyway let's begin let's

begin let's begin so today I'm going to

give you that's just an edification to

what we discussed on previous videos

right I'm going to show you uh

exactly how to use support and

resistance areas right and also how to

know where to take profit and also how

to anticipate all right but the first

thing the first thing let's let's just

start let's just recap because some of

you may be new so if you're new make

sure that you hit the Subscribe button

so that you don't miss out in any other

videos so if you

are if you are an old subscriber not an

old if you already here before I don't

know how to call it man welcome back

welcome back welcome back so anyway

let's let's let's let's just quickly

discuss um SNR right let's just quickly

discuss discuss how it's formed

because it's going to be important for

for for for you for you to know this so

that we we can be able to explain

everything properly all right I'm just

going to explain everything here and I'm

going to explain

um how to how to use it

rather should have just left this one

here

um yeah something like that let's Lo the

phone okay okay so basically basically

um this right here this right here is

your area of resistance right and then

the one on the right is your area of

support So how do these areas form right

let me just quickly label them uh

resistance and then this area right here

is an area of support right Malaysian

SNR SNR both of them right here are just

SNR right SNR so we're going to explain

them in in detail right we're going to

explain them in detail so for us to

create an area of resistance right an

area of resistance is basically just a

barrier right a barrier or some some we

call them the roof or the ceiling

whatever they want to call them but it's

just a barrier like an area where

prices is not um willing to break above

right so how how is this area formed

usually we see it being formed by an up

candle and then a down candle so how do

we mark it up we mark it up from this

first candle right here right this first

candle right there this is where you

mark up your area of resistance it

doesn't matter if price gaps up on this

following candle this why you mark it up

you don't mark it up on the highest

candle you mark it up on the first

candle right the first candle being this

one right here right there this where

your area of resistance will be it

doesn't matter if it gets down right

here and closes here that's where your a

of resistance will be right hopefully uh

you understood that but in most cases

you'll find it similar to this one so an

area of support is basically just a down

candle followed by an up candle right

and it's very important that you also

focus on momentum right but it does not

mean that all the time it's going to be

strictly um dependent on on the momentum

of this following candle but most

importantly you you need to focus on um

trades which have um High momentum right

so just like with this one just like

with this resistance it's a buy so

usually you'd want to to see something

like that a momentum to the downside

just to show you that uh price is really

struggling to to break above and then

this momentum shows that price is

willing to go lower just like with here

price is it's it's having a difficult

time trading lower so

it got like an area it's being supported

to to go higher so anyway um let me see

let me see let me see how's this I'm

just checking my phone right now so

ethereum crosses

3,200 okay so fine hopefully you got

that in mind right I'm not going to go

into detail but also remember don't just

use any area that you see it's also

important to know where to use these

areas right here just because because

you see them on the chart does not mean

you should use every single one so

anyway let's just let's just continue

and do and get into the video because

right now I'm anticipating a sell okay

fine what happened here we have this

daily area right here where we have a

buy and then a sell right you can see

based on this week that price is

actually really struggling to go higher

so even closed bearish right although I

did show you an example of um a

resistance area being formed with a

bearish candle closing below this fast

candle right here still it's a valid um

it's a valid uh area of resistance just

because of this uh momentum that we we

seeing here the rejection that we seeing

here so what you do in this case right

if if you are a risk Trader right I

always say that uh my standard stop loss

is 30 Pips or 35 Pips just because right

now we are in an area whereby we are

still forming an alltime high so we we

are not really sure where price is

actually going to stop and give us a

retracement or reversal so standard 30

Pips so you could be stopped out I don't

know you could be stopped out uh let's

just say 30 Pips around here so you just

take the trade right there and then for

potential targets targets always focus

on areas of support right an area of

support would be here so you would be in

a sell anticipating that it would find

support from here why am I saying here

because I know you're looking at this

candle thinking that it tapped this area

but I don't think it necessarily tapped

that area if we zoom in as you can see

this area is still fresh we haven't yet

tapped it so it's your potential Target

and then this low can be used as

liquidity right but for those of you who

would like to uh get in with a proper

confirmation you can basically just

scale down to lower time frames right

lower time frames I would say I'm not

really sure where this uh this day start

let's see the Toth Friday already tapped

here let's go to lower time frames I

just want to make it uh very very simple

let's see this started here right 15th

the 15th tapped the area of resistance

right here the daily resistance right

this is today is it today today's the

15th right am I wrong yeah yeah yeah so

we tapped this area right here I'm

basically just waiting for this candle

to close we'll talk about that in a few

minutes so our focus is right here right

let's say you didn't want to enter with

a 30 bit stop loss right because that's

the highrisk trade you basically just

scaled on Lower time frames depending on

whether you're comfortable with it or

not right depending on whether you're

comfortable with it or

not

so you could have either decided that

okay fine um we tapped this area right

here and then reject it right right we

did not really see any breakout then

price pushed a bit higher traded lower

and then pushed a bit higher to tap this

area of resistance you shouldn't use it

because there's no breakout yet right

but then after reacting from here it

broke out from this

area this move hold on hold on hold on

hold on just want to quickly confirm

something broke up from this area with

this move so fast area or first entry

you could have taken it from here right

if you use the line chart let me use

quickly show

you if you use the line

chart where is that hold

on you'll see the breakout right here

but it's not really a breakout because

of I would prefer close below here I

would prefer to close below here but

based on uh the

candles based on how it directed here

you could have just decided to enter but

still not not a very very safe trade

so in this case what I did I just marked

up these areas right here and remember

if you're not seeing anything clear

remember we we tapped the daily area of

resistance right so this is enough

reason for you to look for lower time

frame confirmations because you know we

tapped a higher time frame area of

resistance so you can you can just

simply go to lower time frames just to

confirm your breakout and all that so

let's see after it broke out from here

here right you went to the M15 and then

you saw it trading a bit lower making a

high and then you got a breakout from

here your first entry obviously had to

have been

here had to have been

here with the 30 stop

loss with the 30 pip stop loss or 35

Pips depending on what you're

comfortable with your target here right

here 300 Pips just like

that so this would have been your

potential first entry I'm just showing

you these uh setups on on Lower time

frames but I hardly ever use lower time

frames so let's just say this the

breakout right here maybe a second

breakout would have marked it up from

here and

then the only area that you would have

had here is this open close because this

area right here this area of resistance

has been used so second entry you could

have marked it up from

there and I know that this is

hindsight because I know some of you

will be in the comments or bro this is

just hind slight you don't even know

what you're doing another area right

here I think I think this one let's just

zoom in you can see this one this buy

and then sell has been tapped so you

would have just decided to use this uh

open close because

you you have to pick up pick out the the

top two areas that um you want to to

sell

from just like that Target right there

so right now right now I'm seeing the

same thing right here I'm not really

sure if it's going to come back or not

but I was waiting for price to close on

the 1 hour if we go back to the 1 hour

you'll see on the 1 hour we have this

open lose right there

so we can just simply wait for for price

to retrace into this one hour area and

then we get um a possible sell

continuation oh

man a possible sell continuation um

targeting here but my main target is

obviously around here and I think I did

discuss it but I haven't yet made any

video regarding that

so yeah that's basically just um a small

small breakdown using my Legend SNR so

if it's something that you're interested

in make sure to to watch some of the

videos which I did post on here on my

YouTube or yeah yeah just basically just

follow me follow me on telegram the

first link in the description

and uh yeah I'll talk to you guys soon

love you boys um let's see how do we

stop this man anyway this is not

Financial advice anything that you do

it's basically your own risk your money

your own rules I did I did not tell you

what to do with your own money I'm just

speculating that's only for educational

purposes only so anyway with that said

peace love you boys