What's up guys Johan here from TradingWalk and I want to show you how to use the new Trend Pulse Pro for TradingViewand I'm so excited for you to start using this and when you learn how to use it correctlyyou never have to use anything else again so if we start from the left here and just focusing on this chart USDCAD the 15-minute chart and Iwill talk about multi timeframe analysis and many other strategies you can use toincrease the win rate even more in all the videos but to keep the simple inthis video I just want us to look at entry stop loss and take profit levelsand a strategy you can use to get good entries when the trend change so lookingat the left here we see we have a buy signal here and what I like to startwith is I enter on the next candle when the signal is generated I placemy stop loss below the signal and then I draw a Fibonacci from thehigh to the low when we get the buy signal and you see here that we're rightat the 50% when we get this signal and our stop loss is at the 38.
2% sothis is very good we place our take profit at 127.
2% so you see therehow easily is to find the entry take profit and stop loss level basically youalways want to stop loss to be below the 50% when you go long you always want tostop loss to be above the 50% when you go short on a sell signal and you placeyour take profit at 127.
2 now you see here that this turned out a loss andthat's completely fine you will have losses but you see that this is so smallcompared to your profit if this would turn out the winner so this is the keykeeping risk small but your profits big so risk reward here is maybe2.
5 or 3 so that's very good know when you see a failed signal what does thattell you basically that the trend is changing so we have buy signals and then one fail that gives you an indication thatthe trend is changing so what I like to do and this is a very smart techniqueand the reason also why I coded these signals to be a triangle is because agreen triangle the flat line is a support line so when this buy signal failthis support will become resistance support becomes resistance is a commonand proven technical analysis technique and it works very good for these signals sohow do you act on that basically you know that this is a level of importancethe trade fails price closes with three candles below this this is an indicationthat this support has failed what do you want to do basically just place up selllimit at this level and to find your stop loss and take profit you draw yourFibonacci as I said for sells you want your stop loss to be above the50% and to give this a little room you see if we placed it at 50% this willbe right at the entry so I'll place it above the 38.
2% here and I placemy take profit at 127.
2% looking at this this trade here paid for this lossand some more I mean beautiful trade and let's say that you want to lock in somemore profits you want to trail your stop loss what's smart technique you canuse for that so what you can do then is add moving average exponential and if wedouble click on this make it white and input 8 we will use this as a trailingstop and the rule for this trailing stop is you want a close above the line and then a move above the candlestick that closed above it soas you can see here using this as a trailing stop you could have taken someprofits here and move your stop loss to break even and then let the rest of yourtrade trail here and you have a close above the line here and then a moveabove it on the next candle so you see here you could have doubled yourprofits by trailing your stop loss here so that's a very cool technique for youguys to experiment with if you're a beginner I recommend you stick with thestrick entry stop loss and take profit rules and just continue analyzingthe chart here you get a sell signal here so what you want to do is yourentry we have our stop loss here we draw the Fibonacci to see if it's a goodstop loss could be too tight so let's move it above the 50% just to give itsome more room and we place our take profit at 127.
2% remove theFibonacci and you see here that this distance here is still bigger than therisk price goes right in your take profit target and this is nice win aswell so always take some profits off so for example let's say that you use halfyour position for the first take profit and use the rest for a trailing stoploss then you will close half of trades here made a nice profit and then therest when you have the trailing stop loss closed right here then you see hereif we remove this what I talked about is after we had a sell signal and this flatline of the sell signal is resistance when that breaks and price come back tothat level so resistance becomes support you can entry on a limit order right atthis level so your entry is there you drew your Fibonacci place your stoploss here your take profit at around 127.
2% so I can double-click on thisso you can see the Fibs retracement settings I have basically the zero line50% level the 0.
5 this for 38.
2% is 0.
382 100% is 1 and the 127.
2% is 1.
272 so our entry stop loss and take profitlet's remove this you see here this is a risk reward trade of at least 3 so for every dollar you risk you makethree and just look at this entry to the pip and right into your take profit ifyou trailed your stop loss you're using the EMA 8 and you see that youdon't have a closed below the line here and you basically just trail your stoploss here and when you see a strong move here like this one this this isreally running away here so if you get a candlestick pattern like this invertedhammer here you can trade your stop loss up to that because you're already insuch a huge profit and basically this trade here is 5-6 risk reward so ahuge win and the strict rules for the trailing is a closed below and then amove below you will be out here on the trailing stop us if you use the strictrules you get to buy signal here as well so entry most recent high and low ourstop loss is below the signal our take profit is at the 127.
2%and I mean this year beautiful trade positive risk reward youwin more than you lose on the trade and yeah beautiful trading buy signal hereentry on the next candle stop loss below let's see if the stop loss is at a goodarea yeah so it's below the 50% so in that case follow the signal because thatis support and we placed our take profit at 127.
2% and you see here entryand boom right into your take profit beautiful trading I mean I'm so excitedfor you guys to start using this and I mean if you follow these rules if youfollow the techniques and strategies I was talking about in other trainingvideos you're gonna do so so good results and you know I'm there for you so if you have any questions just let me know andI will help you and just looking at this short here waiting for the nextsignals so we get a sell signal here basically what you want to do is mostrecent high and low and I would look at this swing here so my entry would behere I would place my stop loss 50% and I place my take profit at one hundredtwenty seven point two and let's look at how this trade turns out so we made amove down we retraced again but since we placed our stop loss above the 50% levelwhich is where strong this trade is still intact let's see here okay so youhave a new sell signal what you can do then is trail your stop loss or add to itand then you're out for a nice profit it's a beautiful trade here once againand you see if you use the trailing stop loss you would be in this trade becausethis close above the line but the next candle don't move above it this closeabove but the next candle don't move above it then you have this the closeabove it and you would be out here if you use the training stop losses so Imean you have one two three four five big profits with positive risk rewardand a small loss oh I mean you even had six because we took this trade as wellon the support that comes resistance so six wins in just one loss using simplerules and I mean I can't wait for you guys to really learn this and learn howto use it correctly thanks so much for watching I really hope you takeadvantage of this and follow my rules if you need anything let me know and I'm therefor you I want to help you master this system thank you so much have a great day.
