Okay so in this video what we're goingto be discussing is my favorite candlestick pattern and most importantlyis when you're working with the candlestick strategy when does it workand when does it not work? Because the idea is every candlestick pattern shouldwork instantly and that's not the case.
So watch the webinar and at the end ofthe webinar I'll even share a trade with you that I've taken based on today'sknowledge and I'm sharing with you guys and show you live how a trade is donelet's get started.
Hello, can everyone hear me? No no I'mjust joking, I know you guys need a chat box hold on one second.
Okay here we go, Good morning everybody, good evening, good afternoon.
How's it going? We've got three hundred and forty eight people in the room right now andCounting it's great to have you guys here, it's always fantastic to have youguys here! “I like chocolate” oh yes! So it's good to see you a lot of you guyson Facebook live as well so it's good to catch up with you guys for every webinarthat I do I always have a an hour earlier before the webinar I open upFacebook live so we can chat have a good time have a drink together, have somecake together.
I'm always eating cake prior to my webinars so yeah.
So how'severyone doing? Where's everyone from? Okay India Mexico London Serbia GermanyPennsylvania Africa South Africa Florida Sweden Hungary calling Sweden come onAustralia Canada Bosnia Egypt Berlin Australia Guangzhou Hong Kong Ozzy inThailand awesome Maldives, welcome Fayaz, Philippines Bolivia mucho gusto l lived in Bolivia for some times, I forgot all my Spanish I'm sosorry.
Lived in Santa Cruz Bolivia so fantastic place nice people, nice people.
Chennai UK just New Zealand Alberta Canada fantastic fantastic.
So it's greatto have you guys all here.
I'm going to be starting the webinar and shortly.
Sotoday's topic for those of you guys who do not know me my name is Navin Prithyani, I am your host today I am your mentor at urban forex.
com and a seniortrader at forexwatchers.
com.
Before we begin I like to know one thing I like toknow one thing and that is:how many guys are new here first-timers? Excellent excellent, 116 people, 120 people have been here before.
You know 120how great is that how many webinars do you see around theworld where people come back more people come back regularly than they do withnew customers? This is something I'm very proud of I love you guys for it becausewe don't waste each other's time right we go straight into the stuff I respectyour time because you show up here.
You respect my time and we go straight intothe topic right? So I love it I love it I love you guys for coming all the time.
okay excellent excellent so all those newpeople in here welcome welcome all those returning people and studentswelcome back welcome back.
So let's get this ball started let's get this partystarted let's go.
okay, let me know if you guys can see my screen.
All right solet's do this let's do this okay just updating Facebook live here we go.
Let'sstart okay so today's main topic candlesticks candlesticks there is acommon misconception when it comes to candlesticks.
And what is that? What isthe misconception when it comes to candlestick? Hum what do you guys knowabout candlesticks what do you know? Yes everything is recorded for those of youguys were asking about this.
Can everyone hear me is the audio okay? Ben “that they've the holy grail”.
yeah I see a lot of your comments are coming from thecourse okay excellent I said okay and before webegin just really quickly guys if you guys can see my screen on the top rightright here where my mouse is.
That's your connection speed to me.
If that is aorange or something that means you have slow connection to me.
As long as that thingis green that means you're okay okay yeah if it's green bar you're gonna beokay boom boom boom.
okay, let's get startedhere, all right so um if I get disconnected just hang inthere I'll be right back I have two connections just in case.
okay socandlestick candlestick now there's a big misconception when it comes tocandlesticks right everyone's looking at candlesticks is like you know if I juststudy all the patterns I can trade all day long and I can predict the future.
Right? And and so so the journey begins with you know let me buy a book oncandlesticks and let me study everything about a candlestick and what they'resupposed to do correct? okay, now here's the thing I want to askyou okay now this is an extract from the core basics course.
How many of you guysactually have the core basics course? That came with the MPA how many guys havepicked that up? Yeah excellent I said so this what I'm about to teach you guysisn't extract from that basic that's an extract from the course and we're goingto be talking about all the details around candlesticks and I think this isvery useful and it's something that everyone deserves to know so let'sdiscuss it.
Let me go into the white board real quick okay so here we go.
Whenwe see a candlestick okay we've got something like this we call a doji okay?We see something like this and if it's colored in and then we see somethinglike that hammer, inverted hammer and moreexhaustion candle, you know we got several names for everything, you know wesee something like this okay “oh yeah it's engulfing” you know “the previouscandle is engulfing the next candle”.
So there's so much stuff there right somuch stuff there.
Now today what I need you to understand is this thing.
And I write it down for you guys.
I want you guys to remember this to the boneforget terminology focus on why.
okay let's face it for you to make moneyright, in trading if it's regarding candlesticks, do you need to go stand upat a podium and show how much knowledge you have? Does your account balance say:”You know what the more words you know the more I'm going to pay you”.
No, youronly job in trading is to always understand what must I do and why doesit work like that.
It is never terminology learning systemslearning strategies it's the why.
Why does something work? Make sense? So let'stake a look at this.
Let's say the markets are going up and then down and up andthen down and then up and then in this area right in there, you see your doji or a gravestone or a bat pattern what does that mean? Okay, notice how many different answers that are coming up.
But everyone knows whatthe word is but no one knows what that means.
Okay this is something whoever's not typing I want you guys to learn and thenfocus on this because this is a very big problem you know when it comes tocandlestick trading.
Okay now what is that same thing occurred up here.
okay sonotice how things have changed now so now it's like wait what ever happened tothe candlestick design itself? Its conditional now isn't it? Okay so keepthat thing in mind and we'll go deeper into this.
I just wanted to tell you guysthat it is all conditional always because the market does not play by thebooks.
it is not a A+ B + C technique.
Okay? So let's take a look atit.
Now markets are going up and up and up and then in here, okay, this is atricky one, this is a tricky one, in there on the last move up that went up so hardWisdom “Sorry I'm late” oh that's unacceptableyou know 400 people in here are very upset with you right now.
No I'm justjoking, I'm just joking.
Welcome, welcome and it's recorded in case you missedsomething don't worry.
Let's say you get your exhaustion candle right or your pinbar or your haram your inverted hammer and hammer and all the stuff just likethis in red that big.
Okay? Okay it's all the other candles are like okaythere's that size, and that candlestick design shows up there.
Whatdoes that mean? Okay also “sorry I'm late” Oh I feel like an Indian teacher youknow like “oh if you're late you stand outside the class” No it's okay it's okayif you're late it's fine.
Okay so you see, you see that so now it's telling us thatthere is some, okay, Ok candlestick pattern also location is one thing.
okayso remember this stuff.
You guys want to take notes, take notes.
Otherwise it's recorded you can always rewatch it.
Location is importantthe next thing apart from location, strength.
What is the strength followingbefore the candlestick pattern showed up? they're very strong they're very verystrong so you have to keep this thing in mind right? So let's take a look at thisnow in terms of logic now we're gonna take a look at this in terms of log it.
.
.
.
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t we're gonna take a look at this in terms of logic andwe're gonna we're going to take a look at this in terms of “what does it mean?”.
Okay so the market are going up, okay, the markets are going up.
They come down veryvery deep and then they go up again and then they stop.
Okay if I went to ahigher time frame and I had to draw this in one candle, this is how it's going tolook like right, the opening price is here which is this price.
The closingprice is this one which is right there the highest point of the market was herewhich is like that, and you have a candle looking like this.
What we are just doingis we're now looking at the universe below based on one candle you know why?Because this is why a candle stick was made to begin with.
The rice trader backin the day who made the candlestick did not have a scalping strategy who waslooking at the one-minute chart.
He came in the next day he looked at one candleand he understood what happened that day and he's like “gotcha I got it I knowwhat happened”.
It is a knowledge piece it is information.
Make sense? Yeah it has tobe green this whole thing but you guys get the idea.
yeah it'll be green.
You guys are turning me to Picasso or something.
But okayso yeah so now you guys understand now let's take this even further let's takethis even further the markets are moving upwards and upwards and upwards andupwards and then close right there.
They close right there.
Rogue trader, there is no lower shadow this was the opening price, there's no lower shadow.
Clayton you're late – oh my god okay you can get behindWisdom outside the classroom.
Okay so if you take a look at this chart right here, if you take a look at this chart right here, and when we see this markets movingup and up and up and up okay and then the strong move down, okay if we have todraw just this piece, just this piece on the charts.
So we got a movement here isthe opening and here is the closing okay.
So opening prices right hereclosing prices down here.
This is completely red and then there's thiswick on top till there.
Okay everyone gets that piece so far? Now prior to thatyou can see the movement has been slowing down, okay now why is thisimportant to do it like this? Why are we trying to look at the universe below andabove and try to put it into one candle? Why is this critical? Well take a guess, why do you think is it important to do this? Daniela very good, to see what thebig boy can also see.
Okay now take a look at this if that same patternoccurred like this after all of this okay but, on the lower time for him allwe see is like that.
That's what we see, but we have to seethat, “ah this is now clearly visible to the big boys as well because it left abig wick on top”.
This is what we call a faker on a lower timeframe.
Don't we? It'slike “ah that that was a false breakout on the higher time frame” or “sorry a false breakout from a range possibly”, we have so many words for it.
Yeah you knowfalse breakout, a probe a spike, we call it so many words.
But all it is or arailroad track right a candle that goes up followed by a candle that goes downthis is another terminology railroad track, but the language of that is on ahigher time frame that's an exhaustion or pin bar or a rejection.
Okay this isimportant to know, this is important, to know.
QQQ:” I've been lately”.
Is this like anew fashion man no no it's okay it's okay yeah you just been late a littlebit everything's recorded not to worry that's were I just want to acknowledgethat you're here, don't worry it's okay.
Okay so let's, so everything clear so far?Does everything make sense so far? Daniela “Can we think of the faker issimilar to v-formation?” In some way yes yes you can do but we'll get into thatlater because that's you know if we're talking about v-formationnow that's different thing okay okay so so far so good?everything making sense? Now so the best pattern that I like are these two only okay these two are my favorite ones, however they need to be in the right spot, after the right strength.
okay so solet's take a look at this, let's say on your higher time frame, okay on yourhigher time frame, take a pick a time frame any of you guys.
Sayone time frame that come to your mind whatever time frame.
Okay four hours that's the first one I saw, okay your four hour is coming downdramatically like this it's a downtrend right? okay what's thetimeframe below the four hours? You know in multiples of three and four.
We'vegot the one hour right? It takes 4 one hour candles to make one 4hourcandle correct? So the markets are dropping down down down down down andthen you come into the one-hour time frame and you're looking at this as “Iknow my big boy is seeing this, he's seeing down”.
okay your 1 hour, the same thinglooks like this.
Correct something like that right? You see a little bit moredetail of it like more microscopic correct? In this detail you start to seea pullback happen.
Now pull back is starting to happen but on the highertime frame, do you think he cares? No so you have to also understand : Is apullback significant enough that it makes a difference? Okay you have tounderstand that because why is a pullback important? If I draw a trendlinefor you guys, which direction is this market? It's clearly down, if it's clearlydown sorry and my job saying the 4-hour is saying a sell, if my job isto sell but everyone on the planet is looking at a sell, can I make any money?So what do I need? what do I need? I need buyers so I need some kind ofinformation that this boom okay everyone on the 60 minute just became a buyerbecause why? People chase.
People chase the marketKhaifx “welcome” okay so everyone everyone chases the market very very late yeah?yes you chase you die, right it's a common thing in the industry, everyonesays that, you chase you die.
Okay so once you see the markets moving upwards whatdoes this look like now on a higher time frame? A little tail okay he's startingto notice it a little bit the 4 hours guy.
Good goodit's still a sell for him he didn't become a buyer overnight.
Only the60-minute people became a buyer, right does that make sense? So far everyonewith me? Okay so the 60 minute guy his eyes are like my job baby is to sell butthe 60 minute guy is like oh my god did you just see that? We need to buy all theeuros on the planet because everything is going up for a Buy and I don't wantto miss out on my Ferrari, so buy everything.
Okay sell the house, sell the dog just buy Europe.
Right so everyone mind goes into the buyingbuying buying right? So in this in this process of when everyone isbuying okay, let's take a look at this now.
Okay just here okayjust here, you see a candlestick on top.
That looks like this.
What does that mean? okay so I'm gonna I'm going to introduceto you guys, a I'm going to introduce you guys problem number 2.
I'm going tointroduce you guys problem number 2.
Now what is the second main problem thatpeople look at? Problem number 2 is what is our job as much moreintelligent retail traders? What is our job in this in this situation? What arewe supposed to do? yes make money but what are we were supposed.
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to sell right?If our job is to sell what happened in this situation is that our mind only getsfixated on the sell and we look at any signs, like a candlestick pattern thatwill judge us to get into the sell quickly without noticing what the hellwas that? Why did it go up so quickly? Why is there so much power so now let me askyou the same question.
Does your candlestick matter outside of thecontext? No without context the candlestick is useless.
It is basicallyyou might as well watch TV instead and at least have a laugh.
Not if you've donethe MPA right? okay so you have the situation now the markets are going up, markets are going up right, we've talked about you know in some of theprevious webinars that as the market starts to show some signs of slowingdown and down and in this process, what about now? Now there's two signs that areshowing here, it's showing us a sign that the crazy buyers who bought all this.
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Okay who what when okay Everyone focus here now, everyone upuntil here you all said it's a sell right because that's how the market seesit it's a sell.
Clearly it's a sell.
As the sell happens here they still think it'sa sell in fact that's when the sell begins.
In that process of the sellthe first move up that happens what does that do?Whoever was selling what happens to them? They're stopped down.
They're not juststopped out they're in panic this is what I tell all my elite students.
They're in panic right, they're in panic.
They're like “oh my god oh my god whatjust happened?!” Panic means okay I'm gonna give anexample : If I put you in on the street suddenly, and then I blindfold you andthen I remove your blindfold and you see a car coming at full speed towards youwill you have the guts to take action immediately or are you gonna freeze outof panic? This is what happens initially when people panic is there action? Thereis no action remember that there is no action in the panic mode.
But after thepanic when you see the markets are going and making higher highs what do you donow? Now you buy, now you take action.
Right so if you, if you can now seeand predict the human behavior of their actually entering buys up to this area.
No one bought over here Good we have stage number 1, we goteveryone wrong-footed, we got everyone in the wrong direction and the 4 hour guyis like “I still want to sell”.
Right he's like “I don't care, this is nothing tome”, but on the 60 minutes the guys are all like “oh my god what is happening theworld is coming to an end, I thought it was a sell”.
Correct? So inthis whole process when you see this and you're like okay well I just saw mycandlestick pattern there is some relevance to it now the market isslowing down I know everyone's a buyer but I know that big boy is a seller.
Nowyou have conflict of interest, this timeframe says buy, highertimeframe says sell.
okay yeah good I can see a lot of studentsare paying attention in the course.
This is what we call the money spot, the conflictof interest.
It's what's important to us it's the money spot.
It's where allthe action is going to take place, okay.
So in this process when you see this twothings happen.
What does this look like on a lower timeframe? okay if this wasred.
It means the market went, started from here, they went up they crashed downand lower than before.
That's how it looks there's the opening price, there is theclosing price.
Which means what? They did not respect this support, that is yourfirst sign of there's a problem.
That's what that candlestick actually meansthat support and resistance just got violated right because this is yoursupport resistance record that support is supposed to hold the market.
“I killed30” yeah so when when you see this when you see this you're like “okay I see some signsof my support getting violated”.
If my support is getting violated what doesthat tell me about the big boy? Why is my support getting violated? Thiswhole time – I'm going to change my color so you guys can see – this whole time mysupport kept pushing higher and higher and higher, but now my support starts toget violated.
Now remember what I asked you guys earlier of how you guys thinkabout this I'm going to ask you now the same question.
Is it too messy the chartor can I keep going on the same chart? okay okay I wanna keep going I'll keepgoing I'm not gonna redraw it just just stay focused.
Same thing happens here.
Whothinks of a sell at this stage? Tell me, which public thinks of a sell at thisstage? They don't, they don't think of a sell.
okay there might even be somesimilar designs in here for exhaustion candle and they got burned by gettinginto early last time.
Okay, then the markets will go somewhere like thiscreate all of its doji's and all of that stuff you know grey stones and then whenthe market collapses, what happens to the public? “oh yeah you remember that patternthat showed up that was a sign for a sell of course”.
Yeah obviously that'sright at that time yes.
But who got in? Everyone who gets in is now tryingto attempt to hit the sell, hit the sells hit the sells what's the problem withattending and hitting the sells here? You are now in the presence of buyers, you'rein the presence of buyers and everyone is hitting a sell here even though themarket might further continue down it's not going to continue down without anice bounce.
So somebody asked me this question on Facebook live- is a facebook lifestyle working for you guys I heard someone saying thevideo froze or something like that.
yeah still working? and am I still okay you canfeel it see me eating my cake okay all right- yeah okayyou know why sometimes I'm always laughing when when some of you guys comeand tell me “hey I just got in late” it's because I'm laughing is I can imaginesomeone just entering the webinar now and you're looking at the screen you'relike “what the hell is going? what are you guys doing? There's no way I'm gonnaunderstand this stuff, I'm just gonna leave”.
Alright so yeah so those of youwho came in late and don't worry it's recorded you guys can rewatch it it'svery powerful that's why it's a it's going to look a little bit weird if youcome in late but don't worry the next example is gonna make more sense okay?okay now now okay so far so everyone with meso far? Theory is okay? Is the theory side goodwith everyone? let's go step into the practical? Okay let's put it on a chartnow.
okay let's go put it on a chart yeah someone is someone, I just saw in areally nice comment saying “the key is not to jump into early” very good Chris -very good because your trading is like this gauge it's this meter okay?This side is early, this side is late.
If you need to trade right therelike right here, that's where you need to trade if you're too early you're gonnaget stopped out if you're too late then what's going to happen? You're going toneed a very very white stop-loss and you're chasing the market you might evenget spiked out, okay? It it's like our parents taught us, everything inmoderation Navin, everything in moderation.
It's the rings in my ears those sentences you know.
So it's the samething in trading everything in moderation.
Okay all right now let's takea look at some charts let's take a look at some charts.
NowBela's there is no timing webinar because timing is an advanced subject.
How many guys already have timing in your 4-course bundle? yeah okay we gota few people in here okay.
Those of you guys who have timing do you guys feelthat yes if you got this information earlier you wouldn't have much successwith it? yeah and that's the reason why I have to pick and choose what I do in thewebinars because anything that goes a little bit too advanced it's going tocreate the opposite reaction of people they're going to get confused and infact when they go home and they try it and they go practical because that'swhat we trained you to do right it's not just theory go practical when you go dopractical you're going to have some losses and that's not good.
And that'sthe last thing we want you to do right? So we have to be very careful withlayering your education piece by piece in the right order the right order.
okayall right so let's do this on the chart let's do this on the charts.
okay Asser “please go to all the AUDUSD you will have an excellent example” okay okay oh waitwait wait there's an actual example right here first hold on hold on.
Okay sowe're looking at this chart , 4 hours chart right what direction is our 4 hourchart? Our big boy.
Just like we did last time what direction? Okayso here is problem number 4.
I'm going to do a Facebook live on this kind ofstuff.
Problems number 4 – I feel like I'm doing a countdown of all theproblems – problem number 4: How much information are you looking at? Are youlooking at stuff from here? or are you looking at stuff from here? okay if you're training 4 hours as yourbig boy and sixty-minute as your timeframe that you want to trade, does itmatter what this whole move is doing? That's like last month.
It's too far back- that's problem number four.
too much datatoo much data okay it's a common problem Even the MPA students when theystart off they have this problem with territories and stuff.
That's why we arecovering this extensively in the core basics course and I made it very veryaffordable for everyone to take it up so because it's critical I think it'scritical okay? Excuse my cake, all right let's take alook at this on USD CHF on the 4 hour.
So we're looking at a marketthat seems to be going up pull back up pull back up it's got all thesesequences right? All right all right let's take a look and all thesemovements that are going up and up and up.
In this up movement when thispullback starts to happen do you think in that pullback what is the 4 hourboys thinking in that pullback? Are they afraid of it? Or are they like “whocares, support and resistance”.
Can you guys, can you guys see my screen? Isthat better? okay yeah sorry about that yeah, I thought whenyou guys ment to zoom in, I though you want me guys to look at the 60 minute but okay I got it.
All right they're looking at it as support resistance they are like “I don't carethat the support and resistance for me” You know that's perfectly fine, nowlet's take a look at mr.
60 minutes, let's go down to the 60 minutes.
Nowsince we're on the 60 minute here Up until this stage anyone thinking of asell.
Nope until this stage anyone thinking of a sell.
No until this stageit moves down drastically, which means what? yeah which means stopped out foranyone who's buying very late because everyone buys late right? Which meansstopped out, so that's stage 1 stop out.
Which means, we don't have any sellersyet.
I'm not buying if there's no sellers.
okay? They're just stoped out, they're in panicmode.
Okay what we need is something more dramatic, okay we get the next dramaticmove Oh, get the next dramatic move, try to even make a lower low.
okay? Activitiesfor sells begin activities for sells begin.
Now in this phase of sells thatare beginning in here, we're still monitoring one major incident of”how many people are getting in on the sells?”okay we might be looking at “maybe I should be buying it from here becauselooks like the sellers have died the buyers have come in okay and we'regetting ready to go long”.
What happens if you're wrong ? Right, what happens ifyou're wrong with that one? okay so your first trade just by trading it verysimply very very simply your first trade stop-loss but here's the thing when thatstop what happens chances are you're not The only onemany people might have had a stop loss.
but what do you think people are doingwhen they see this? Do you think they panic?yeah even the buyers now who thought they were smart even they start selling.
yeah it's the “oh my god” itself.
okay with these patterns shows up nowsomething here, a candlestick pattern.
The candlestick pattern shows up there it'stelling you that we got a nice exhaustion but the market is so much ina downtrend how do I even know that this is supposed to be for a buy? Let's take alook back at this on the four hours and see well what are they looking at it as? They still don't really care when we'rewatching now when the market comes back up and closes for the four hours let'stake a look.
Market comes up and it closes right here.
On the four hours andthe one hour it closes right there.
Now can you tell me from this movement downokay would you say this movement down is aggressive? It's pretty aggressive right?This is where your test comes in of how good are you at patience its aggressivewhat are you going to do you're going to stand by are you going to pull thetrigger? Stand by .
You see, you see your exhaustion candle, but now you'reconfused you know your exhaustion candle or your PIN bar or your hammer andinverter however you want to call it that thing that's thing showed up thatyou like, and now you're like “oh my god I like that thing it's a sign of my bigboy coming back but the strength doesn't allow me to get in yet I am Not sure”.
Waiting a little bit and seeing thisinformation come up, once this information come ups like that can younow tell me on the 4:00 hour on the 4:00 hour what do you see? It's the sameexhaustion right? Now let me let you in on a little secret, let me let you in ona little secret.
I'm going to go back down to the water it's the samecatalytic patent correct the one that we like.
I'm gonna go backdown to the one hour and I want you to monitor closely of do you see this thinghere? And do you see this thing here? Can you tell me the difference between themove down and the move up? David, very good, the power, so the moment that itwent down we were like “I'm not really sure”, but the moment it went up fasterwere like “okay now I trust the exhaustion candle”, and that's when youcan say “it is now safe for me to try to enter this trade, the odds are in myfavour”.
Doesn't mean I can still can't be wrong but the odds are now lining up.
Sowhat I'm trying to tell you guys is Do you see how your candlestick does notmean anything until things line up? Do you see inside a candlestick patternthere is more detail that we have to also pull out? Just like we saw the samecandlestick pattern the four hours but, going to the one hour we saw somethingwe wouldn't have noticed on the four hours.
Small details big results big bigresults but everyone's too busy and just identifying what they see and what it'ssupposed to do and that's incorrect you need to know why.
You must know why okaySo how many guys right now as your first aha moment with me or you've hadprevious aha moments with? yeah good good because that's the whole purpose ofthese webinars is to make sure you have a breakthrough and you learn somethingthat you can apply instantly and you go home smarter and by the time you comeinto the next webinar you're like “oh my god my head is blowing up with so muchresearch and so much information what's next?” okay This is why our webinars are the biggestand the badasses webinars out there.
We don't waste time and we don't talkgarbage we do not talk garbage, which is not a book you pick up from you know you knowa cheap you know idiots for dummies or whatever it'scalled.
Okay you need to learn trading for what it really is.
It's not justpatterns and simple like that.
It's not just patterns are simply like that, there – itis more complex but it doesn't have to be, and that's why you know, I'm here foryou guys, you know that's why I'm here forget there was no one there for mewhen I started everyone would teach me so in such complex ways that learningsomething like this would have taken me three weeks.
I broke it down for you guysin under 50 minutes okay and not to mention it's recorded youwatch it as much as you want.
Yeah so one of the things, okay so here comes now the problem number 5, problem number five okay?There's the problem number 5.
People will enter at the sign, the first sign ofthis because they cannot control themselves.
Okay alright now let me askyou guys one question, let me askyou guys one question.
I'm gonna go intoproblem number six now, okay, Is there an important question that I want to askyou guys okay? Now that I've given you guys a few minutes to let all theinformation sink in, you know roll back your tongue into your mouth that yourjaws might have dropped so okay now what I want you to tell you is the nextsituation is : What if you enter here and your stop-loss is here and your takeprofit is back here recent high.
What kind of risk to rewardis this? Okay okay this is something I want to straighten up with you guystoday okay I want you guys to answer me as clearly as you know the industry theentire industry When you buy a house how much percentageprofit do you make on that house in one year? On average 5% 10% 12% sometimesloss okay When you invest in the stock market inindexes like SNP 500 how much money do you get on return in a year if you putyour money in a fixed deposit account as savings in your bank and it's a lot theway if you can't touch it anymore how much do you earn? So I want you guys toanswer me this one question why is a 1 is to 1 which is 100 percent returnlooking so bad to you? Why does that make you feel inferior?Where else are you going to get 100 percent return? See it's the main problemwith people when they come into forex they forget that they're in the sameworld that everyone else lives in and they need to first get started.
100 percent is already the next level it's like a level people cannot imagine.
But yet they want to make 400% 500% 1000% in one single trade you have tograduate to that level you have to go there slowly.
Okay what happens if yourtake profits a little bit lower I miss less than 1 is to 1, is that bad? ok see, everyone out there you know forthe sake of teaching they want to teach that you want you need to have a lot ofrisk reward and this and that yeah yeah if you're going to be wrong all the timeyes you need to risk reward.
But if you want to be stable and consistent youknow there is also, you know there's a safety of going with the 1:1 youknow that the safety is a wider stop loss you have a safety net okay now how many of you guys can now use thisto your advantage and even trade part time? If you're trading part time you get yousee this thing you're on the 4 hours and 60 you look at this you open yourphone you're like yeah good enough, good enough for me.
Enter 1:1 risk to reward, close that phone and spend time with yourfamily, like what is so wrong about that? Like literally what is so wrongabout that? What is it that compels you to make you know five R out of thisone little trade you know five risk to reward or three risk to reward because what theindustry tells you so? Have you ever tried a 1 : 1 R?See here's the thing this is another example that people don't know becausethey never tried it they just listen to the industry and they say well everyonesays I shouldn't do it so I guess that's right.
But everyone doesn't make moneythat's the problem.
This isn't forex factory, where everyone hides behind a fake username they don't have the balls touse their own username on Facebook, like people can do in Facebook and theyhide behind it and they can be like you know you need to listen to me because Iknow what it's all about.
It's not a way to go and you can'tlisten to stuff like that there's no credibility.
okay so aha moments yeah all theproblems that you guys have gone through today how many of you guys actuallyfound out that there is some situations that you can fix instantly today? Howmany of you guys had that breakthrough today? Is it difficult what I taught you? No absolutely not, and we always say thisin the course as well you know I need you to always repeat the mantra you knowif you want to say or the cult.
The cult chance that we do “it's not hardit's easy” yeah it's easy.
Because you need to train your mind to do anything.
You need to train your mind to do anything.
okay I believe one of you guys pulled meabout the AUDUSD let's take a quick look at that, we got some moretime with us here today let's have a quick look and see what that's all about.
okay AUDUSD I don't see any candlestickpatterns no don't see any candlestick pattern that you guys can use.
Take a look atNZDUSD maybe, ah here's an interesting one! Take a look atthis one.
What does that tell you? Now now think very carefully what color thecandle is? and why is it that color? why is it – why is the color green? yeah why isit green? why is it not red? it is still up that means the opening price was herethe market went up it got rejected and it closed here.
Does that tell youanything about support resistance being rejected? No that means that sign is notgood even though it looks like an exhaustion or a hammer and ball whateveryou want to call it but now you have an idea in your mind that “hey there's somerejection but the rejection is not strong enough”.
okay? EURCAD 4 hours?let's take a look, ah here's let's take a look at this one.
You see this one right here? There's a nice rejection there let's take a look atthat shall we? So this is the 4 hours markets are ina downtrend in this downtrend marks are going down down down down down and we'relooking for a some kind of a pullback right we're looking for a pullback therewell I go can we trust this? San we trust this? And can we do the sell? so let'stake a look at this how it looks on the one hour.
Now markets start to move uphere first can everyone see my screen just fine? make it bigger? is that better? okay markets are moving up now if I drawthis the same downtrend line, do you think at any of these points anyone hasturned a buyer? No absolutely not.
okay We saw an exhaustion candle here righton the four hours does everyone remember that? I'm going to show you I'm going togo back to the four hours I'm going to reshow it to you againso you guys can see it it was a strong move up followed by a move down and itlooks so nice let me go to the 4hours Yeah as everyone agree? that looksso nice what a big rejection from the top.
“Navin school after MPA and 4CB”what's this? I don't know what you're showing me – oh okay you're showing a tradethat you did – okay um sorry we're all that yeah everyone everyone see thisexhaustion the violation whatever you want to call it a rejection from here?everyone see that yeah? Now when I go down to the 60 minute I want you to tellme what does that pattern tell you when you look at it like this.
Can you tell me if that's a rejection? Tell me the up movement, tell me the downmovement.
Very good you see clicks clicks clicks your brainsare working faster now you guys are picking the stuff up good yeah strong upno strong and unless download so does a sell collapse from here? No that meansthere's still buyer pressure coming.
okay and that these kind of things tell youwhen to stand by and when not to take a trade you got to be careful of thesethings.
okay so here's another example of when you see a candlestickyou can't just blindly trade it nor you can't use like a candlestick they can saywell it's going to be perfect because this is also support resistance no no noyou can't do it that way also, it's not going to work likethat, just because there's a support resistance and a candlestick that itshould work like that, you need more detail you need more detail.
Make sense?Excellent excellent okay so it is now 8 p.
m.
here also 9a.
m.
in New York City time once again I want to tell you one thing that I reallyappreciate you guys taking the time to be here are you guys going to be herefor the next webinar? We'll have one in exactly two weeks and how soon do youguys want the recording? How soon do you want this recording maybe I'm thinking I I won't release the recording for this one.
I'm just kiddingyeah I'll get you guys a recording within 24 hours everything is done we'vetaken care of everything audio quality and sound qualityeverything is going to be perfect so thank you all for coming I hope I didn'twaste anyone's time we went straight into the topic and I look forward toseeing you guys next time cheers guys have a wonderful day bye for now.
All right guys it's Wednesday June 21stnow for me this is several hours after the webinar and in the webinar someof you guys asked me you know if I can show a life create I think in thewebinar or on Facebook life when you guys ask me.
And so I am taking a tradehere and I recorded it on purpose to show you I wanted to get you an exampleas sooner, sooner rather than later so I can include this with the webinar andthis is a trade that's actually happening live so um a lot of a lot ofinformation that went in to make taking this trade comes from the webinar it's avery straightforward trade a very simplistic approach basically somethingfrom the mastering price action course, you know very simplistic, you know verystraightforward instead of going to the complex and very advanced stuff that wedo in the 4 course bundle course, because and that's why I don't share a lot of mytrades like that because it won't make any sense so for the level of theMastering Price Action course, this is a generic trade if you just look at this it'llmake a lot more sense and you will get an understanding of okay I see why hetook this trade, especially going with the webinar that we went over today orearlier today you know things will you know tie and took place with when yousee your candlestick designs and stuff like that.
So I'll go ahead and pause itright now and we'll you know we'll resume later on.
Okay so welcome back soit's just only a few more minutes after the trade just hit take profit and thetotal time for this trade was basically around fifteen minutes or so so I tookthe trade took it for around three point five standard lots for those of you whowork in units I took around 350, 000 units on this thing, and this you know itturned out something small at one 129 USD you know, something I want to do something small so I can show you guys the trade liesbecause a lot of you guys keep coming to me and asking well can you show mesomething live? And I thought if I can find something today – I can't do it livein a webinar all time right because it's hard to spot atrade that's actually happening then and there all the time so I need to do myanalysis to my research I've got to do all that stuff and I don't want alwaystime in the webinar doing all that stuff um you know again going through theprocess of thinking and putting this the pieces together so this is the trade foryou guys a trade that was you know a video from the pre and then that Idiscussed it and then after I actually even haven't even updated the elitecommunity and you can see this was like nine minutes ago when I posted it sayingthat it spotted a small fifteen minutes old on the USD very small trade andalmost classified as a scalp so so there you have itthere is a complete trade for you on AUDUSD cool Cheers.
