3 Steps for a Solid Price Action Trading Foundation [Webinar] | Urban Forex

So let's get started, let's getstarted.

So good morning, good evening good afternoon.

Welcome to the UrbanForex webinars.

We do this webinar once, every couple of weeks to a monthdepending on where I am located and you know what topics we have available.

Now today's topic is a very important topic because it's something we've beenlooking at for quite some time.

A lot of students have been coming to me for thisparticular question saying “hey man I'm having issues with this because I'mgetting into trades however the trades simply don't work outand certain times they work out absolutely perfectly so what is goingwhat is going wrong? How do I filter my system? How do I filter my system?” Thatseems to be the the common question again and again right.

So they keepasking you know you know “What should I do?How can I filter my system?” Now you know first of all I wanted to take amoment as every one of you guys are still coming in walking in, you know, sowelcome to the conference room guys my name is Navin Prithyani I'm the mentorand host at urbanforex.

com and senior trader at forexwatchers.

com so it is apleasure to have all of you guys here.

Now we're trying something new heretoday we're going live directly to you guys, right now and also on to YouTubeI believe Facebook is not streaming live but we'll get that fixed in the nearfuture.

But for now let's get started.

Now if you don't knowhow we do things or if it's your first time in one of these webinars we like tokeep things a little bit interactive.

Now because there's a lot of people in thiswebinar you know a lot of a lot of people in this webinar what we're gonnado is every now and then as I get into important topics I'm gonna turn off yourchat okay to make sure you can absolutely focus and then, we can turnthe chat back on elements that you need to know.

You're gonna walk away from thiswebinar with three main important things and just to give you a reminder towardsthe end of the webinar you can also access an example set video that I'veset up for you guys so you will be able – when the webinar is done you want tolearn a little bit more on everything we talked about the description is gonna bein the link is gonna be in the description below and you'll be able togo to and watch the examples yeah.

Alright so now let's get started let meturn on my screen sharing and we can go straight to this.

One second here okayyou should be able to see my screen now.

Let me know whenever you guys can see mycircle, okay alright so let's have a look at this.

So that the three main elementswere gonna be talking about this whole session okay let's start with elementnumber one.

If you're a trader and you do technical analysis okay I'm gonna writethis down here yeah if you are a trader and you do technical analysis the onevery important thing that you have to, have to have to know is technicalanalysis will not work if there is no momentum.

Let me repeat that technicalanalysis will not work if there's no momentum.

The market must be alive andmoving for any of you guys to do any kind of technical analysis support andresistance supply and demand, Fibonacci, pivot points, you name it.

Anything thatrequires any kind of technical reading skills you need an active market.

So ifyou want to try doing technical analysis at the close of New York try that, itwon't work it won't work right.

So you need an active volatile market.

So ourjob as traders is to start by looking for volatility right.

So we want to knowwhere we can apply our technical analysis right? So step #1 isalways to be on top of those things right? okay, which means find out, okay find out if there is activity.

Find outif there's activity today find out if there is activity pending from yesterday.

okay? and if I can spell it right there we go find out there is activity fromyesterday.

Now let me zoom in a bit.

Oh no not that much okay okay, sorry about that, I didn't want to make you guys feel like you guys were in a rave concert, let memove this here okay here we go.

Okay it should be nice and easy to readso find out if there's activity pending from yesterday so you want to keepon top of these things and then we're gonna go into the nitty-gritty stuff thestuff that you guys want to see that's why you're here and we want to go deeperinto that so we're gonna start with situation number one.

Momentum.

Okay letme write this down we're gonna go with the next piece which is momentum.

Let mewrite it here, momentum and then finally our third piece is going to be flow andterritories okay.

so let's go straight directly into step number two: momentum.

Momentum now every time you're dealing with with a chart okay every time we'redealing with a chart you have to be aware of what's the flow of the power.

Solet's say you've done your step number one, you've you figured out, you figuredout how much of the market is active how much of it is moving and you'relooking at if your -break- if you're in -break- like okay there's some activity todayaround the open so now I know today is a day where I can use my technicalanalysis there are certain days you cannot do it but you know that you canuse your technical analysis right so now that you've coming in with yourtechnical analysis you're now looking for your momentum okay.

So let me showyou this on the screen here momentum.

So if you're looking at this as, righthere, so let's say the markets were going sideways sideways sideways sideways fora long long time all throughout yesterday and then today BAMactivity has started markets are moving everything is going hot and you're likeokay my job is to take money out of this market but I need to do it safely andsecurely which means I cannot enter the cells as it's going down right.

A rule ofthumb we don't want to be entering cells as it's going down because then we'rechasing the market and that's pretty bad because if we sell down here for us tomake any money the price needs to go at least here.

For us to make any money toclose that right so we want to do it a little bit safer than that.

So what we'relooking for is we're looking for some kind of a pullbackto give us a better price.

So we were trying to get away from whatever thelowest price where it halts the market and seeing if we can get a price awayfrom it so we can sell, going at least to that area if not further.

Okay okay thisis what's referred to as a trend pullback all right so our whole job isto find out how can we join this brand-new activity that has started.

Nowhere comes the problem.

If I keep pointing at the problems to you youguys will understand better and better and betterso here's the problem.

Markets moved okay bum bum bum bum and drop now in thisdrop some panic happens in the market youeveryone's like “huh Wow what's going on? Why is it dropping?” you know yada yadayada then the next phase comes in BAM.

Okay now your neighbor Billy and Bob istelling you “Hey man I've been making money selling the eur/usd it's beenquite great.

Do you see my Ferrari parked outside? yeah that's where I got all mymoney from”.

Now the third wave comes in where more and more people getinterested in it because they're feeling left out okay which is how the word FOMOcomes in right? Fear Of Missing Out, right? Okay this is a standard tradingterminology that's been thrown around quite a bit okay called FOMO fear ofmissing out, so as prices go down and when this thing starts to pull up nowmore and more people are interested in selling it thinking that well I didn'tcatch that one Billy and Bob caught that one and now here comes the 95 percent ofthe public saying “me too me too me too I want in”.

On this if I flip this chartupside down you will understand what happened to the Bitcoin.

Okay so as themarket starts moving down it starts struggling struggling strugglingstruggling cannot make a lower low goes up again tries to come down and theneventually fades away okay so you're wondering why did my technical analysisdidn't work I have my support and resistance, I have my Fibonacci 50% ratioI have a supply and demand guy and they're somewhere in there or in here”why are my sells not working?” So step one solves that issue okay? Step one solvethat issue.

Are you trading in a day that has high activity? Step two, you wantto do the momentum to find out is that activity alive or dying I'm gonna giveyou a little shortcut okay for a lot of our studentsin our courses and one of the courses called Mastering Price Action course, there is this guy we called rubberband man.

Okay he is like the hero at UrbanForex, okay and he has one big eye apparently okay anyways this guy we callhim the rubberband man because I want you to imagine as if there is a rubberband around his waist pulling him back okay the rubber bands pulling himback and he wants to run forward.

So there something keeps pulling him backso when the markets are ranging and then the rubberband man begins BAM he'srunning he runs from here to here.

Once he's running he can run as much as hecan with all of his energy and then he has to take a break he has to rest andthat rest comes in, that rest comes in, and then he begins his running again andnow what he's trying to do is “Can I beat my previous record?” That's what we areall looking at can he beat his previous record.

Okay those are eyeballs you sickbastards don't get any ideas those are eyeballsand we're just watching can he beat his previous record right.

Once he's able tobeat his previous record we continue watching to the next area and we'rejudging it now we're like okay okay so we're watching it well like okay thefirst time he ran from here to here okay, if I can extract that out.

okay That's the size of the first time, thenhe rested and then after his rest he ran again let's extract that out, and we'relike interesting his next run was smaller than his first run okay thistells us something about the momentum it's slowing down it doesn't mean he'sdying it's slowing down rubberband man it is coming into some problem let meput this back here let's continue so it's a bitmarket London's open everything's moving Asia's Asia's done testing London's donethis thing now New York is starting to get in and they're looking at this as”okay I want to sell to but I don't want to sell down here, I know the sellstarted all the way up here a long long time agobut I want to get in on this action because it's active it's up and runningand I need to do my technical analysis” Prices go up to support and resistancesupport and resistance doesn't hold he goes deeper gets up to supply and demandguys area they're like okay well this guy is gonna hold it okay it's doing allsorts of things to get you into a mode where, to get you ina mode we're saying you need to prepare for yourselves but the cells what you'relooking at your understanding that the rubberband meant very tired.

He wasslowing down as is on the way down but now even his rests when he's taking abreak his breaks are deeper and deeper and deeper.

Now around this area you needto be on high alert.

Why high alert? Because as when prices come down andthey cannot make a lower low which means he cannot even beat his previous record, there is a high opportunity where the initial wave can start and go up okaynow remember when I when I told you guys earlier that how many people hit thesell from the top, very few, and then a little bit more and then a lot a lot ofpeople saying I want this I want this I want this because I saw somebody else doit so I want it too until then no one is doing the homework or the research orthe analysis to be one step ahead of the game okay.

This is what we liketo call you know in Urban Forex we say you know you have to “anticipate and notparticipate”.

So as this whole thing is happening prices are coming down thepros are getting ready to do their buys the buys are going higher and thatrubber band man who was running from here couldn't makea lower low and beat his own record he rested and he rested through his ownprevious record that means he's out he's out now.

The buyers are here now that thebuyers are here the first thing that happens is all the sellers sorryall the people who were selling, all the people who wereselling are like “okay it's gonna go for a sell here.

No okay it's gonna go for asell here.

Come on support and resistance it's gonna go for a sell here.

Supply and demand come on it's gonna go for a sell here Fibonacci retracement1.

28 okay it's gonna go from a sell here”.

All of the stop losses start from herestop stop stop stop stop market goes up pulls back Pro traders add in size andhere they go second wave comes in now the people who are looking at this as asell they're like “oh you know what it's no longer a sell anymore I got hit toomuch on the way down it's actually a buy.

But you know what, I'm a pro I'm notgonna buy it up here I'm gonna wait for my support and resistance and my supplyand demands and my Fibonacci to come down so I can then buy it from there”.

Yousee how the illusion of the trade entries are happening so much later inthe game that it's causing no no place to survive okay.

How many you guys herecan actually say yes I've seen that happen? It's happened to me, it used tohappen to me years on end and I was just sitting there like why does my supportand resistant work so well sometimes and then at certain time it doesn't work atall.

Unfortunately this happens all the time in the markets now up until thispoint, up until this point everyone with me so far?Understanding momentum how momentum can shift through the illusion withoutletting anyone know, and once it's clear and everybody knows it it's dangerous.

okay okay all right so now you want toalways stay on top of what type of market you're in as wellso you're not always stuck thinking I need to do this as a trend pull backwhen the market is actually in a range or I need to trade this like a range whenthe mark is actually trending.

You know that can cause a lot of trouble.

okay Now here's the next stage, here's thenext stage.

So that was now going into step #3 which is the flow andterritories.

Okay not flow flow okay flow and territories I won't write outthe whole word territory it will take me forever.

I'll just put Ter okay all right.

So flow and territories.

Now what does that mean?now here is a major major issue coming.

Let me pull up the data first.

A lot of you guys have probably taken the survey right, let me see if I can, cani upload something here let me see if I can upload it here.

Okay many of you guys took a survey on I asked you guys do you think the sellsare on.

Okay more than 3, 300 of you guys had said 55 percent said it is yes, 44percent said no.

Now notice this thing there is a huge amount of people comingin here and one simple question of which way there's a 50-50 answer almost.

okayokay when the only answer is only one will be right okay either the left sideis gonna be on the right side but there's a huge variation that means theway we look at the markets is so ranged up even though everyone's knowledge onsupport and resistance is exactly the same right one you know when you knowyour your knowledge on support and resistance and your Fibonacci's andeverything all that knowledge is very similar you ask one person to the nexthe's they're gonna be off by 5% on each otheryou ask him hey can you draw a support and resistance nine out of ten peoplewill draw it approximately the same way hey can you draw a supply and demandnine out of ten people will draw it a similar way they might be wrong butthey'll draw it in a similar similar way hey can you draw me you know an areawhere you think prices might react from nine out of ten we'll think about thesame way when you enter a trade when you ask them where do you put your stop-lossnine out of ten will say put your stops above your recent high or below yourrecent low but when you take it even simpler and saying which way thequestion becomes like a fifty fifty now let me open up the secondary questionthe the secondary one how do I get rid of this delete no no delete okay deletethe whole thing all right the next one okay this one where I asked you guys asecondary question saying when you look at this chart which direction are youthinking you guys took this survey when you register to come to this webinarright and and for those of you who are watching this during a recording or youdidn't get a chance to do this service you can always register on our websiteon urban for XCOM and we do these webinars quite regularly where Ichallenge you guys to think in a certain way and then we come into the webinarand we dissect it a little bit more so you can raise your level ofunderstanding a little bit higher everything every step of the way okay sothis particular survey you guys said you know some a lot of you guys said it is acell and some of you guys said it is a bi okay all right now let's take a lookat some of these situations in terms of flow and territory I'm gonna I'm gonnatouch touch base on some of these main topics so let's say the markets aremoving in an uptrend markets are moving in an uptrend prices start to hold theystart to hold and they start pulling back pulling back pulling back reachesan area of a strong support and resistance let's say okay it reaches anarea strong support and resistance pulls back pulls back pulls back goes up goesup goes up and then it does this BAM are you a buyer or are you a sellerokay are you a buyer or are you a seller this is something very important to knowokay now I'm gonna share with you guys some of the secrets that I share in themastering price section course and I and I know a lot of these students will tellyou this how important this piece of the lesson is it is so basic but soimportant and overlooked by millions of people millions of people so you seethis market going up it started here it's it started here went up this highpulls back started here went up even higher and since then no higher high nohigher high no higher high no higher high no higher high but we never wentlower than this either this all of this activity here belongs to him to make itsimplistic just think of it that way all that activity belongs to this guy okaythink of him as a very very strong guy who's holding the market unfortunatelyhe does not want to buy yet he's waiting for a price that is a bit better okay soas as this thing comes lower many people will think oh my support failed and Ican see all these little support and resistance failing as well this is aseller's market this guy will come back and sayingthat's exactly what I wanted I wanted to do these buys thank you very much andthe buyers will activate and they will jump straight up bounce possibly makinga new high after that this illusion is the number one illusion in the marketsome of you guys can refer to this as complex pullbacks some of you guys canrefer to this as set one set to however you may look at it this is not taught soeasily out there in the public okay everything is taught up until this pointyou buy off of support and resistance right here okay and if it doesn't workand it drops down then you sell because supporthold so then you keep selling it when in reality is you don't sell that that isvery very very very very very very very very dangerous okay I don't know if Isaid very enough times okay so let's let's take it from the top againlet me see if I can get your knowledge what is number one okay let me ask youguys what is number one what step number one that you must be aware of as atechnical analysis trader what is number one okay for those of you guys aresaying number one is is activity okay okay you can say activity purpose volumeall right okay I see a lot of you guys saying liquidity activity good good verygood alright number two you want to do your rubberband man which is momentumokay I simplified your momentum for you just imagine that guy okay he is one manout there taking on the markets on his own let's put his hands on his hipsgive him some eyeballs and a cape all right he's the hero okay call himmr.

rubberband man okay as long as you can read mr.

rubberband man you have anidea of momentum without going over the financial technical jargon of like oh mygod I can't understand this okay 65% pullback22% follow-through it's gonna drive you nutsjust remember this cartoon okay remember this cartoon he will take you throughall right and finally number three as I see all of you guys territory and flowokay and again a lot of you guys in here are actually students and you guys willdefinitely know why this is extremely important territory and flow you justcannot skip it is not something to be overlooked now shall we put this alltogether okay shall we put this all together okay very good unless I saw youguys say flow and territory okay all right now let's try to put this alltogether so I can give you an idea of how you should be thinking and it willgo onto the charts so then we did the first half as theory we'll do the secondhalf on on the chart so you can see it explained and then in the example setthat I that I am gonna install an input into the video write the example set isactually going to go over this on a chart on a live trade okay where I'mgonna show you how I did a live trade using this thing so you can know alittle bit better and see this thing not just in theory and practical but also inaction right all right so now let's take a look at this in terms of all three solet's say the markets were ranging for the last couple of days ranging okaymakes a little bit lower comes back up goes a little bit higher comes back downnothing nothing nothing and finally today the markets let me move this downthe markets rise okay it goes boom there's some activity the market goes upnews came out a news came out in Asia or news came out in Japan in the past somenews came out and it started the movement breaking some important levelsgetting up higher and stuff now you know theflow is back on why is it back on because of this word its new not manypeople can take activity when things are new they can only activate once it's toomuch once is really really out there okay if someone says hey I bought Googleyou won't buy Google because it's not interesting then tomorrow the news sayshey Google went up a little bit Oh interesting then the third day anotherguy will be like hey man I made so much money on Google and then the fourth dayeveryone's like hey man we should buy Google that's how the market works it'shuman psychology okay it is not lack of education is justhuman psychology okay they like to chase when they see others doing it first okayall right so once that its new we're like okay great it's going up we knowthe territory is now he's the guy he's running up and anything as long as oncehe starts pulling back as long as we don't make a higher high and we don't gobelow this guy everything that pulls back belongs to him everything thatpulls back belongs to him which means it belongs to the buyer okay he is incontrol of the market to the buyer so if you start getting this here's a quiz foryou guys okay watch this very carefully or is my okay let's get rid of this andso if you see this coming the markets coming down pullback coming downpullback coming down pullback coming downhe reaches this area of support and resistance he reaches 61.

8% he reachesto Fibonacci level as well and now he's started to go up he does all kinds ofthings that tells you well if he goes above this I'll buy it if he turnsaround and he goes above if he gives me a bat pattern if he gives me a monkeypattern or a squirrel pattern I'm gonna buy it and all the buying start andstart but they fade they fade they fade and then it starts coming down lower andstarts crashing on you now what happens is anyone who's involved in the buyswhat do you think thinking their stop-loss is below therecent low okay their entries was based on support and resistance which is thegeneric way of doing everything right so as prices are coming downaggressively they're now into panic they're into panic they're looking atthis like oh my goodness maybe okay maybe if it stops here I'll actually buymore I'll buy more and the greed kicks in and then he goes down he jumps up alittle bit comes down a little bit everyone said oh that's it I told you isgonna be a bike they buy more and they buy more and during this process itcrashes down further and then in this whole process while a short-term tradermight be looking at this as can you not see this as a lower high lower lowsequence a lower high lower low in any textbook in the planet means downtrendunfortunately this downtrend belongs to this guy who's still alive we haven'tmade a higher high since we haven't gone below him since he is in control of thisentire market once this thing stops out all these people orders pile up and asorders pile up this thing prepares and the real buys activate later after therubberband man okay so this is where your rubberband man comes in handy soyou're understanding the flow of the market okay let me get rid of this facethis face is creepy all right okay so you're you're you're now looking at yourpull back as a rubberband man as well you're seeing rubberband man he runsfrom here to here and you're like ah he's very strong he just started he'sresting just 10% he's resting a little bit you're like oh the guys got powerhe's on steroids then he runs again almost 100% identical to his previousrun were like wow that guy's pretty strong but this time he rests a littlebit deeper okay and we're like okay interesting nowthe places where I told you these guys are looking to do adding more positionsto buy they're thinking it's coming back yes we can hold us for a buy or if theyget stopped out and it comes back oh it was just a probe all right it's a fakerit stopped me out let me do the buy as they do those buys but our rubber bandman to the downside is not done yet he's still going he rests quite deep now thisputs us in an alarm why is he resting so much he runs againbarely makes a lower low okay comes right back and we're like Oh couldEB dine and now since he ran his previous record when he started runningwas here and now we're going above him it's like he's oh it's over that littleshort-term selling that took place is out this is when this this big guy who'sbrand new he's like it's party time let's go and how much are we gonna gowith this we scale scale scale hard go big large position sizes and this thingstarts to now rise and the goal of this thing is to make new highs goal is tomake new highs is that starting to make senseJenny they're starting to make sense because how many you guys feel you guysget trapped into this area okay where it goes lower than the initial support andresistance that was supposed to hold but then once it goes lower it's like oh Iwanted to buy it and then stop-loss here one that goes back up you're like okayokay its back its back Buy It Now Buy It Now and the buys are not workingstop-loss again and now after two or three stop losses you're so burned outemotionally that you are not able to re-enter ever again knowing that thetrade eventually goes plays out you're not in the trade the only thing you haveleft is well I told you it's gonna be a buy Ijust entered it incorrectly or a little bit too early but I knew it was a buyright what good is that statement of I knew it was a buy if we can't grab itright yeah but the first thing comes to the story of is it a buy okay let's takethis further down the line now mr.

rubberband man is on his wayhe's running again he's like okay here we go okay we're on our way up he getsup to here he slows down and he starts pulling back pulling back pulling backpulling back pulling back all right now he's at an s in our area and he'sgetting ready okay he might pop down again really quick you know just becausemarkets love to do that around this area can you say should you buy this let meask you that question should you buy this let me shrink this up so you cansee a rubber band man should you buy this or is are you too late in themarket okay so if you now look at this the way to do this is you grab this guyyou grab the sky and you see how my first time my rubberband man ran up howdid he do but he rested a lot look at this big pullback he rested a lot okayfair enough right give me here give me a one secondhere let me check something on my end okay just one moment guys okay okay okay sorry about that I thinkit should be a little bit more clear you'll be able to see my mouse as well Ithink my mouse was not active so sorry about that again it's our first timegoing live with this so we'll make sure things are a little bit smoother nexttime around so anyways so you take the first guy first part out and you're likeokay he went up that much then the next part then the next part that he that hestarts running up you're like okay let's take him and then you know sorry thisphase here this part here if you can see it on my screen the next part is thatbig it looks just as healthy and even after that his rest after that is lowhis rest is not that high is not that much it's like 20% 30% compared to hisnext run so it's like it's a yes you can do that by now here's the thingmomentum okay this is very important I want you to be very focused right nowthis is the moment where you need to focus okayall right there's a moment where you need to focus up until this point you doyour buys the first time around you make your money you're gonna prepare for yourbuys your next time around and you're going for the buy and it's doing this yeah I'm making money but what is wrongwith my rubber band man come on bro what's going on what are you doing whyare you so slow when you start noticing that and then as you are starting toexit your positions cuz he's slowing down rubber band man he starts doingthis you're like okay I'm gonna get out so I made money from around here to herenow the problem is he comes down and you're looking at him like oh god Heylook at him resting he's coming down resting really really hard here's whathappens another support and resistance is getting ready do you buy this one nowdo you buy this one now so that's the main question I want toask you guys with everything I've taught you so far this happens in the markettime and time again again I'm gonna share this in the example set that'sgonna be you know the example said it's gonna be after this webinar you'll havethe link below this video you'll be able to see it and then when you click on ityou'll get to the video and then I'll show you again on a live trade itselfright alright so all of you guys are saying no you don't want to buy that nowbecause it's it's now dying right the momentum is dying this is when you needto know all that movement that started earlier ok the high volatility highvolume high activity yes that is correct it's over it's over because now anyonewho's on the sidelines who's been watching and he turns on the news thenews will say guys have you guys looked at the euro/usd today he's jumped upfour basis points everyone's going crazy about it what do you have to say goldmansachs okay well i think the buyers can do well but then it shows up on the newsand that's what grabs people's attention which means they now come into this pairand they start doing something whether a buy or a sell but they start gettingactive they start getting active does that make sense they start gettingactive in this area and that's the area where anyone who's been buying from thebeginning and holding and scaling and everything you're looking to takeprofits and scale out that's where you're looking to get out of yourposition okay does that make sense does everyone understand this entireprocess does everyone understand this entire process right so i wanted to gothrough this whole thing too so I can make sure you guys really really graspthis thing from from the bone and and really really get the flow of thisrubber band man with territories now let's jump on to the charts right nowokay so let's jump on to the charts so let's have a look at this okay I'm gonnamaximize this euro USD fifteen minutes current market situationI'm gonna zoom in a little bit okay now look very carefully okay look verycarefully markets were in a trending state trending trending trendingrubberband man's like hey I started from here I got thisI rest it a little bit I got this even more I got my Red Bulls I got mysteroids I got this don't worry I rested a little bit fantastic he comes down butnow he's choppy he's choppy just like okay so you haveto start thinking whoever sold from up there they've got to book their moneythey gotta book their money which makes prices jumpit makes prices jump so let the prices jump but for us all we know is wait aminute interesting interesting weird but he's still he still got it he still gotit really strange guy but he still got it now let the big boys book theirprofits what that means is your rubber band man started from here he ran allthe way down to here and he stopped let's put a line where he stopped put aline in the sand saying BAM that's it since then he never made a lower low butwe never took him out either he's just doing a prolonged rest as prices come upcomes up to these areas and like people are thinking okay should I get ready tosell okay my cells are working my cells are working good good good good goodBAM jumps right back up stops people out okay maybe it's a cell from heresupportin resistant well that doesn't work jumps up again well it's a supplyand demand from here oh that one probes higher that one doesn't work okay upuntil this point the whole scenario is telling you the rubberband man is notdead yet he's still around he's holding grounds that territory he's stillholding it so what we do were like okay now that we know anyone who's sold thisis now panicking because they're stopped out therestop-loss was here and the faster this thing goes higher the more people willjump onto the buys right and we're like good jump onto the bias do that so noone buys down here because they're thinking it's a sell more people buyhere because now they're thinking huh maybe it is going up and more peoplewant to buy from here they're thinking oh that's a pullback S&R let's buy ityou cannot buy that that area right here where you're trying to buy it is stillin his control this guy is like I'm still here and he's got that big grin onhis face saying I'm tired but I'm still hereokay I'm sorry I used weird cartoons to explain all my techniques but I hope youget the idea I so he's like I'm still here and in this process you're readingthe rubberband man now very carefully you're like alright let's see what yougot mr.

rubberband man you're buying you're pulling back you're buying can'tdo it you're pulling back you're buying can't do it what's going on mr.

Robramen are you getting ready to die and he takes him out he takes him out righthere he's like can't do it man complete reversal unfortunately I can't do it I'mgoing on the other end for you now now is when the cells can truly activateokay because the buyers aren't going to disturb it anymorethe sellers are clear after taking all the orders from the sellers and it's telling you I'm still alivedon't give up on me and as you bring for a massive draw and the goal isas we discussed earlier the goal is to make a new low from the rubberband man'sprevious record okay all right I said I see some of you guys saying yourdrawings look like psychotic hallucination yeah sorry about that butyou know the goal the goal for me here is whatever makes you learn and gets theinformation into your head if I sit here telling you you know when you get a 20percent retracement and then a 5 percent pullback and a 61.

8% Fibonacci dudeyou're gonna fall asleep you know I am here to teach you the inner works of howtrading works without putting you to sleep and then saying it's your faultyou fell asleep no we can do better right as traders our job is to always dobetter and I bring that same attitude to teaching we can always do better to makesure you're up and running to understand so now when this market has moved downrubberband man is well and alive and he's like I'm heremomentum is active New York is about to open we have some activityyada-yada-yada so stage one check we're like ok welcomeback stage one and we now go into stage two okso certain things to to check up on these things so a couple things I liketo personally do I like to look at the forex factory Calendar FX Streetcalendar so let me take a look at the forex factory calendar so if I go intofor example today I see the next news is at 9:00 p.

m.

but earlier there was newsat 7:30 right at my time and my time right now is 751 so 20 minutes ago therewas some news that happen in the market that news what did it do I'm interestednot in Y I'm interested in what did it do so at that time we had someactivities in this area right this is 20 minutes ago where is that right aroundhere let's just pop in the volume a bit just to get an idea ok so we have someactivity coming in and notice one thing I'm gonna ask youguys a simple question what time does New York open let mescroll down let me scroll down let me scroll down New York according to thisopened already an hour ago sorry yeah an hour agook which means and 52 minutes ago New York has already opened according to theForex industry the forex industry they tell you the markets are already openand active there's a news coming out immediately within 15 20 30 minutescoming out all News's even like NFP right they come out around 8:30 in themorning New York time now here's the thing the New York Stock Exchange is notopen yet the New York Stock Exchange is not open yet some of the largestcorporations in the world are not trading yet ok you have to realize thisinformation New York Stock Exchange opens at 9:30 a.

m.

which means foranother 30 minutes it's silent ok it's silent they're not around tradingthey're not around trying to do anything does that make sense ok does that makesense let's have a look what you guys are saying okall right so when you when you notice this information about okay well if Iknow New York is open according to forex market I need to know the big boys arenot really around yet okay the big boys are not really around yet when the bigboys actually come around that's when they start when you can start making useof the information that you've seen at pre market open activity rubberband manterritory you get all of this prepared and then you're sitting there you'resaying okay guys today we make money periodokay you don't come into a day that looks like this and it's like I hope I'mgonna get a trade out of it there's nothing happening there's no volumemarkets are not open but you know Forex is a 24-hour market no no I don't knowwhy we've painted this illusion on YouTube that Forex is so easy that allyou got to do is put on your socks put on your big-boy pants and then living ona yacht right all right so all right take it from the take it from the brownguy everything that we do here is you guys take time out of your day to behere I take time out of my day to be here let's quit the nonsense and gostraight to the point instead of just beating around the bush in circles learnsomething master it during the webinar and apply it since day one you knowthat's the whole goal that's why unfortunately I have to use cartoonsmr.

rubberband man okay so promise me starting today one you are not going totrade if there is no activity okay promise me that okay as technicalanalysis traders you cannot trade without activity – okay number two youwill read your rubber band man as if he's your best friend okay as if he'syour best friend because he will help you judging your best friend will helpyou it will help you okay and finally step number three know who'sin control of the market know who's in control of the market Ihaven't even gone into much detail but I'm going many many people are having problems andI really hope that you can take this and turn it upside down and be like I got itI think I know what he's talking about I'm gonna go and test it I can see whathe's talking about I all right so I want you guys to really you know focus oneverything we talked about and don't forget we have the example set that I'veput down below this video you will have it in the in the example set so you youguys can click on the link below and make sure to subscribe if you'rewatching this on YouTube make sure to subscribe comment like I look forward toseeing you guys again I really want to take a moment and really say thank youguys for coming in I really appreciate you taking time out to be here and asalways if you're taking time off to be here I will make sure your time is notwasted and we make sure to take you to at least one more level higher thanksguys my name is Naveen pretty ani until next time Cheers bye for now.