Forex Secrets by ForexElite.
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Now on to our Forex Secrets video.
This is a very important video that you needto watch carefully.
It will drastically help you become a successfulForex Trader.
The Forex Secrets that we’ll be coveringin this video include: Reversals That Occur at Specific Times, The Most Important Pattern(that you need to know), Important Levels, and How to Predict The Daily Market Direction.
Starting with Secret #1: Reversals That Occurat Specific Times.
For every trading session that you see onthis table here, the big move of the day, usually starts with some type of reversal.
The reversal is the start for the big moveof the day.
And it’s extremely important for you toidentify the Reversals of the Day, so you can get in on the action.
Let’s review this chart piece by piece, so you can have a much better understanding of the major Reversals of the Day.
The London Open starts at 8am London Time(Monday through Friday).
The Reversals usually occur around 7am to10:30am London Time (Monday through Friday).
These are the exact times you should be lookingfor Reversals during the London Open.
Now another important piece of information.
Check for any Forex news because chances arethe Reversals will happen immediately after, or around, the news releases.
Definitely take a look at the news for theLondon Open because it might pinpoint the exact times of the Reversals.
Now another excellent time to look for Reversalsis the New York Open, which is 8am New York Time (Monday through Friday).
More specifically, the Reversals usually occuraround 8:30am New York Time (Monday through Friday).
Sometimes it’s right on the dot at 8:30amNew York Time.
Definitely keep your eye on that time forReversals.
And a third and final session that you shouldbe looking for Reversals is the Tokyo Open.
Now the Tokyo Open overlaps with the SydneySession.
The Tokyo Open is 9am Tokyo Time, 11am SydneyTime (Monday through Friday).
The Reversals usually occur around 9:30amTokyo Time, which is 11:30am Sydney Time.
Sometimes the Reversals are right on the dotat these times.
Again, make sure to be scanning your charts, at these very specific times, to identify these big Reversals of the Day.
Moving on to Secret #2: The Most ImportantPattern that you need to know is known as the Double Reversal Pattern.
The Double Reversal Pattern can be eithera Double Top Reversal or a Double Bottom Reversal, as illustrated here.
Let’s start with the Double Top Reversal.
The Number 1 represents the 1st Reversal orTop.
The Number 2 represents the 2nd Reversal orTop.
Once you see the 2nd Reversal, that is yoursignal to Sell Down.
Also, the 2nd Reversal usually occurs duringthe specific times as we discussed earlier.
Moving on to the Double Bottom Reversal Pattern.
It’s basically the same concept as the DoubleTop Reversal, except flipped.
With a Double Bottom Pattern, the Number 1represents the 1st Reversal or Bottom.
The Number 2 represents the 2nd Reversal, also referred to as the 2nd Bottom.
Once you see the 2nd Reversal for a DoubleBottom Pattern, that is your signal to Buy Up.
Again, the 2nd Reversal usually occurs duringthe specific times as we mentioned earlier.
To bring it all together, you need to referencethe specific times in Secret 1, and try to identify either a Double Top Reversal or aDouble Bottom Reversal Pattern.
Remember, you’re looking for the 2nd Reversalat a specific time.
These patterns happen on a daily basis, usuallyaround the specific times as we discussed.
This is the most Important Pattern that youneed to know.
If you learn this, and you do it well, youwill be a phenomenal Forex Trader.
And we’re going to help you master this, every step of the way.
Now, another important piece of information.
Notice in the Red and Green Rectangles, thewords “Important Level”.
You need to make sure that these patternsare happening at Important Levels, which is exactly the topic of our next Secret.
Moving on to Secret #3: Important Levels.
Equally as important as it is to identifythe Reversal Patterns, it’s just as important to make sure that the Reversals are happeningaround Important Levels.
The 3 Important Levels that you need to knoware Pivot Points, Figures, and Support and Resistance Zones.
Starting with Pivot Points.
First of all, Pivot Points is an indicatorthat is typically included with many charting platforms.
Make sure to add this indicator to your charts.
The Daily Pivot Points are the ones you needto use on a Daily Basis to capitalize on the big trades of the day.
Pivot Points are truly one of the Forex Secretsfor success.
It’s the only predictive indicator.
It’s the only one that tells you exactlywhere price is going to go on a daily basis.
The secret is Pivots Points.
You absolutely need to have them on your charts.
We can’t emphasize this enough.
Now, a little bit more information on PivotPoints.
You look for Double Top Reversal Patternsat P, R1, R2, R3 and R4.
You look for Double Bottom Reversal Pattensalso at P, and S1, S2, S3, and S4.
Make sure to add the Daily Pivot Points indicatorto your charts and look for Double Top Reversals and Double Bottom Reversals, especially atthe P Level, which is known as the Central Pivot Point.
Many times the Reversals that occur for example, at the London Open, happen exactly at P, the central Pivot Point.
So be sure to have your eye on Daily PivotPoints.
Moving on to Figures.
Figures are equally as important as Pivots.
Figures are price levels that end with “00”.
Every Figure is exactly 100 pips away fromthe next Figure.
The table that you see here in the middle, are some examples of Figures.
If you’re not familiar with Figures, youneed to open your charts and locate these Figures, and familiarize yourself with them.
Once your eye is on these Figures, you willsoon realize that all major price movements travel from Figure to Figure.
This is definitely a huge secret that youneed to know.
Look for Double Top and Double Bottom ReversalPatterns at Figures.
These are 100 pip moves that you can capitalizeon.
If price reverses at a Figure, then guesswhere price is going? It’s going exactly to the next Figure.
This is how major Forex Players move currencies.
Figure to Figure.
That’s 100 pips for you if you can identifya Reversal at a Figure and trade it to the next Figure.
Moving on to Support and Resistance Zones.
Every day, there are major Reversals at PivotPoints and Figures.
However, if for some reason you can’t identifya Reversal at either a Pivot or a Figure, then use any Major Support and ResistanceZone to look for Double Bottom and Double Top Reversal Patterns.
Support Zones are historic levels where pricehas not been able to break through to the downside.
Price hits a major Level of Support and goesup.
Resistance Zones are historic levels whereprice wasn’t able to break to the topside.
Price hits a major Level of Resistance andgoes down.
These Zones are everywhere.
So if you can’t identify a Reversal at aPivot or Figure, then look for Reversals at major Support and Resistance Zones.
Moving on to Secret #4: How to Predict TheDaily Market Direction.
This is where everything you have learnedup to this point comes together.
The only way you can truly predict the DailyMarket Direction is when price proves to you that it can’t break a level.
Once you see that price can’t break a level, and it keeps on forming reversal patterns, that means the market direction is headedthe other way.
The first example is how you predict the DailyMarket Direction to be Up.
You identify a Double Bottom Reversal Patternat an Important Level.
An Important Level may include a Pivot, Figure, or any major Support and Resistance Zone.
And the 2nd Reversal in the Green Circle usuallyoccurs around the specific times as we discussed for either the London Open, the New York Open, or the Tokyo Open.
If you spot this Double Bottom Reversal Pattern, at an Important Level, at one of the important times, then the Market Direction for thatparticular Session will most likely be Up.
So what you would do is Buy Up after the 2ndReversal Pattern closes, in the Green Circle area.
Now, the second example is how you predictthe Daily Market Direction to be Down.
You identify a Double Top Reversal Patternat an Important Level.
Again, an Important Level may include a Pivot, Figure, or any major Support and Resistance Zone.
Sometimes it has all three.
The more confluences, the merrier.
And the 2nd Reversal in the Red Circle usuallyoccurs around the specific times as we discussed for either the London Open, the New York Open, or the Tokyo Open.
If you spot this Double Top Reversal Pattern, at an Important Level, at one of the important times, then the Market Direction for thatparticular Session will most likely be Down.
So what you would do is Sell Down after the2nd Reversal Pattern closes, in the Red Circle area.
This is how you predict the Daily Market Directionwith the highest probability possible.
This is quality Forex Trading.
This is the information that you need to besuccessful as a Forex Trader.
What we’re going to be doing proceedingforward is uploading examples of this exact trade, as it happens in the Forex Market.
This is the most important trade that youneed to learn.
These are the Trades of the Day.
If you master this, you’ve got it made.
So follow along.
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