Booming Bulls Course Leaked || Price Action || Anish Singh Thakur || Booming Bulls
Hello everyone my name is Anish Singh Thakur And today's video is a gift from my side I want to say sorry to you people because I have been travelling for many days I am busy in my works and I made you some promises like I will make stories on trader will make video in life management Will make live trading video, will make knowledge video, will make on options I couldn’t make anything but daily market analysis was given to you But form today many content for you people short form, long form both now starting to make And soon you’ll start getting videos on options, Dow Jones, forex, stock market, equity So today is the starting of that thing, as agift Today I did very good class with my students where I discussed price action And I want you all are my subscriber and you also get this knowledge I want you to watch this video very carefully Make more out of it comment what was your learning and I make sure I’ll make video or post videos like this again Ok, so let’s meet you in the end of video What did you learn first of all? What strategy we are using there for our trading? What strategy are we using for trading there? Can I say that we are using this strategy see this one? Does this strategy is being use price action, definitely price action I get clear in price action that, what price action In market structure price action, very good So this is written, is it right First of all, we go on big time frame Means 4 hour Yes, we’ll come from big to small, very good What do we find in biggest one? Only one thing, do we find candle Do we find candle from bigger one? From the biggest one we somewhere see structure Do we make levels by seen structure we saw structure is on top and made line on resistance Correct? Am I right yes, we saw structure and what else did i saw ? most important what I saw? Levels Now level trend level, horizontal leve,l any level no problem ok, I saw It is at higher time frame level, I come below that What I prefer, what I saw, what I check, what I can get today? if come below that What I can see Yes, I can see trend and can get any chart pattern like double bottom, double top Head and shoulder inverted head and shoulder Could get any triangle and if I come below that what do I see? candle pattern I see candle pattern, right candle pattern Some breakout come a bigger one, for taking entry Ok, now tell me one thing I asked you that day What is your maximum wanting? Wants means who wants to trade in forex? How much time you want to hold trade like 1 hour, 5 hours, 10 hours 10 days, 15 days,1 day, how long? Your time frame is small right? you all have Right? If you have 7 days, then it’s good go on 4 hours and take entry on 1 hour But if your timeframe is small like 5 hours, 2 hours, 30 min, 3 hour, 4 hour So from what hour we have to start we have to start from one Yes, we can see 4 hour, no problem many time 4 and 1, conflicts On 4 hour, resistances and on 1 hour, resistance very good, Even better than good But if want to trade small time frame so from where you’ll start for doing practical trading From 1 hour Ok? The very practical trading 1 hour will be your main timeframe Here you’ll make level and then will come to 30 minutes or 15 minutes Will find something special chart pattern or something And then will plan entry on that timeframe got my point ok? Or if by luck 1 hour and 4 hour matched what does that word called confluence I taught you this word in class confluence I used this word confluence what is the meaning of confluence what is the meaning of confluence Like the junction of 2 rivers means when two rivers meets Means I was seeing resistance on 4-hour time frame and seeing resistance on 1 hour time frame also Is seeing this is possible does it possible see 4 hour time frame one resistance was like this Than here this here is the resistance in 4 hour time frame? right ok, now what happen when we zoom in here where here when we zoom in 1 hour and see in 1 hour like this double top is made Will I say confluence this that here it is confluence in 1 hour time frame And if we see some days ago here also there is a resistance So will I say this confluence Or that in 4 hour and 1 hour a confluence came Right? Then this is a more probability trade that it is very difficult to break it and neck line is broken So we can short here, yes of course we can short here Because it is high probability trade here that I got confluence, I got level on both time frame I got a chart pattern, I got a bearish engulfing candle market structure theory is supporting me Because Market come upward before this Now by doing this going down I have many Right? Ok, guys done ok, so this is called confluence So basically can I put this strategy in stock market for swing trade I can also put for gold could I put in bitcoin because basically this is called price action This is the most This is the main price action strategy till today how much you have studied Mean how much you have studied now the amount if brain you have do you remember all these 8 points Does basically we have made that strategy after using that 8 thing See what do we do? we use multiple time frame analysis We use number 6 then what we do we make these level Then what we do we see this market structure That is this on top or bottom is it type 2 or type 3 then catch trend Is it making higher high or lower high, then we see chart pattern We see breakout, we see 3 quality of breakout And at last what we see candlesticks I have made that strategy after using all these 8 points So guys that is our main strategy ok that is our main strategy not our That is the world’s main strategy which we called price action Done everyone Are we clear that today we get out first strategy and if you are still unclear? So I’ll say in Hindi I will use simple English language ok, sir I don’t understand what is my main strategy our main strategy is price action where we mix these 8 points Sir how we mix which point we use first timeframe We go to biggest one draw lines then we see where is market structure and see trend Come to smaller one what we see we try to see chart pattern For breakout, if any consolidation is happening then what we see We see candle pattern and do trading of this thing only you have to practice the most How we do practice can someone tell me Simple open chart every night before sleeping or after open so many charts On that what you have to do open different timeframes And find entries and find targets and make levels make line take entry in your mind Do not do real trade do in mind and target How to make target, How to put stop loss that class will happen and then Q&A will happen So done everyone can we say this is our main strategy and now apply this in forex charts Ok let us apply forex charts done ok Ok before we start I would like to ask few question Do you know what is MT4 MT4 or MT5 it is same thing MT4, MT5 it is a panel by which we do like we use KITE so KITE is of Zerodha In KITE, Upstox will not work So Upstox made its own so this is MT4 in this everything will work Everything works here, ok It’s like KITE but this KITE is allowing angle broking also Upstox also, Sherkhan also, understood so this is that app put you ID Password in this app which you have got through Exness or CMS prime And you can trade here for trading there is 2 things Do you understand PIP,what does PIP means PIP means, what is PIP? Can we measure PIP by scale right do demo trading everyone, Demo account in this one Immediately do demo trading like this is EURO/USD this is EURO/USD Now EURO/USD, it is showing like this EURO/USD so now I come If I want to measure from here to here how much PIPS are there so Use scale directly how much PIPS its showing thanks you shubhamkar How much PIPs it's showing? 74 PIP so PIP means percentage in points Now you don’t need to know full form, you know Now we learned there is something called Lot size Is it there something called Lot size if I have done Lot size .1 in my life have done .1 So on 1 PIP how much dollar I’ll get 1 dollar, ok this is standard remember it forever Right? If my lot size is 1 then? Download it through Google MT5 MT4. If it is 1 then? I f my lot size is 1 then how will it be? This will move 10 dollars. Meaning, it is a big amount right?
10 dollars is how much rupees? It is 800 rupees, right. In every pip 800, 800, Rs 800 meaning in 10 pip we got 8000. In 15 pip, in 100 pip we got 80000 meaning it has increased. 1 lot is a big amount. If you want to trade 1 lot then you should at least have how much money? Yes, how much money should you have? I have told 10000 but you can do it in little less than that. Ok, I will tell you that. Let me revise it again for you. If Let us say the account is of 1000 dollars then what have I said? You will start doing the trading by how much? I have been told to start from point 1, ok. And I have said how many trades you can take maximum? 4, ok. How were you trading in every time? You were doing 0.1 and 0.1
You can trade both the trades of 0.1 and 0.1. If you take it separately then you can close separately too. What is the benefit of taking it separately? You try noticing, Forex traders will always, meaning I, myself take small-small initiate, because I book the profits sometimes. Once in my life I had held very big-big lots.
I only entered twice and left. I exited after 2 days and made a lot of profit because it was a very sure short trade. So that's why, if you make two 0.1, 0.1 This is very normal; this anybody can make. And what other leverage do you have? You can make 2 times more. You can enter once from 0.1 and then again meaning you can go till 0.4. Ok, done everyone? Depending if this becomes your winning trade, if this trade of yours is going properly. You are thinking that retest has happened, once again entry, market is going by my side. So, this is the maximum you can use
as per risk management. Ok, done everyone? Ok. So, I talked to you about the basics of Forex. Now let's go into the charts. Let's analyze, we will analyze a few things. Before I ask that we will analyze, have I sent you DXY? What is DXY? Have I sent you DXY? What is DXY? What is DXY? It is the Dollar Index. What is the Dollar Index?
What is the value of the Dollar Index? So tell me guys what is it? Yes, 106. What is its meaning? Its meaning is what a dollar is? What is a dollar? Dollar is made like dollars versus other currencies. What should be the value of the dollar for the market to have stability? It should be 100. If the dollar is 100 in the market then it means that everything is great, meaning all the currencies are going right. If the value of the dollar is above 100 then is the dollar more powerful than all other currencies? It is powerful then all the others and if it is 99, 98, 95 then what is it? It is weaker.
Is the value of the dollar really greater at present? If I write here, USD INR here then does anyone know at what amount was the dollar being given? Few days back we used to get it at 70, 73, 75. correct If I go 6 months back, 1 year back, 2 years back. Today it has become 81. Why? Because this has come to 106.
f it comes to 105, 100 then this will also get lowered. Oky. So, this is the dollar index. What is the dollar index? Dollar Index is a very good thing to make the view of the market? To make what? To make the view of the market.
What is the scene of the dollar index? If the dollar starts to get expensive, if the dollar starts to get expensive then let us assume, the US stock market is there and I have to trade in Apple. I have to buy Apple. I have to hold it long term. Assume not me but to a billionaire trader billionaire trader but to a billionaire trader, billionaire FII. Assume Indian FII company LIC India wants to invest in Tesla, Apple.
Do they had to give 70 rupees earlier and now for the same thing they are giving 80 rupees if the dollar has become expensive. So, it is a weird thing, it is wrong somewhere. Is this thing good for the stock market of America? So, yes, right. I am sorry, I am sorry. I told you wrong.
Is it tough? Is it tough? Sorry, sorry, sorry. This Indian stock market, leave the American stock market, we have to see from our market. Is it a tougher thing for India? Meaning it is tough for the whole world. Meaning, an increase in the Dollar is good for the world? No, it is not for the world. It is not good for the world if the dollar increases. Always keep this in mind.
If the dollar increases then it will benefit America only. Ok, if the dollar falls then it is beneficial for us. Ok. Instead of taking the long way let me tell you in simple words.
The technical aspect of the dollar index is if it goes up then where will the stock market go? It will go down. If it goes up then our market will go down. Ok and if the dollar index. Lets see one example. So, for example, what has happened to the dollar index recently? What has happened to the dollar index in a 30 minute time frame? It has gone down.
Can we check? Indian stock market in a 30 minute time frame. Where can you see the stock market going recently? Ok So done? Ok Ok So what we will do is we will start the analysis of ours every time with DXY. What benefit can we get from this? We get the overall look of the stock market too. And whenever they are working in collaboration then the work happens to be great. Ok, Let's go there.
So, if I come here now. I saw it randomly once. Where is the dollar index right now? Can you see it? Where is the dollar index right now? This is a 200 moving average. It is an important support. It is an important support right?
Right? Do you feel it is an important support? Yes, it is looking like it is an important support But the price action which is made is kind of made like this, the price action. If it breaks, then can we trust it? It can be done because the market after testing made a bear flag and type 1 so while breaking also we can trust and while it increases at that time as well. So, it is a very great thing. Meaning, why? I showed it because if the breakout comes then will it be final? Be it buy or sell. If it comes off then it is not final, final would have been buy only. Now it is like if any momentum comes, and it will come.
Why will it come? Because today is Friday night. Today the market will close and there will be a gap opening on Monday. Either gap down or gap up. Gap up or gap down and it will matter a lot where it will open. So, why did I see the dollar index? just I saw that the market here is at an important level. Done everyone.
Now, we have understood it DXY. Now, I will close it. Now the things that I have taught you in class. What have I taught you in class? How to start? How to start analyzing? What should we do? Say sir, what should we do? 4 hours. Very good, I opened it.
Now what is my job here? I have come here to make what? Levels. So, to make levels, one person can make levels anywhere. He can make the level here, here and here But where am I supposed to make the level? Close to what? Close to my recent price action so forget all the things and go to recent.
If we go to recent times, then are we able to understand that this level broke now only. Is this an important level? And if I make a better zone here then it's good. Can you see it according to the zone? I have made the important level; can I make an important level here? Thank you. Is this level good? Because we have to make 2. Where is it brother?
One second guys. Here there is one level, another level. Can I make another support level? Are the levels made? Right? Now what do we have to do? At which time frame we should go? 1 hour. Ok, so we came to the 1 hour, what are we able to see? Can we see that market Market has broken the level and has come to retest. Is it a retest that is happening? Is this retest happening? And, the best thing is that here it has done box consolidation also I can trust the upside breakout as well. Correct? We can trust the upside breakout too. So there is no problem.
So it is a great opportunity, right? Either upside momentum comes now then it is great. It should go above the box then this market will go by consolidating. We can go for a long time here. There is trading in DXY too but we should not do it. You trade among yourself in which there is more volume, in pairs. Ok done, so can you see all.
If there is a nice, assume another red candle you find then can we short that? If we get a red candle? Ok So guys, I would ask all of you what I did here, can you all do this much? What did I do? I changed 2 time frames and pulled the levels. Yeah, just one minute guys, okay. Here there is HPR. And if I get a red candle here then should I short? Can I short the market? What would be the minimum target that can be made? Just one minute guys.
That small level I have to check the risk reward. It’s an obvious thing and there are a lot of things but major, main trade would start when, main trade would start when it breaks and increases, Ok? Ok. That's it. Now if I talk about a pair, let us talk about EURO/USD. What is the major pair in EURO/USD? EURO or USD? EURO, meaning the major pair in EURO/USD, meaning if EURO goes up then USD comes down, right? Ok Ok So, here if double top is working, meaning below. If it goes down
ok, if it goes down meaning dollar would go up. We can check that from DXY ok. And just assume if this is one breakout wave number 1 and wave number 2, wave number 3 is building itself then it will break. If it goes up, if it goes up then dollar would come down. So, it is correlated ok So by this you can do and check a little. So for now, the greater the number of confluence the greater the trade quality is. Anyways, let's start the trade.
We have to make levels, so delete all. We have deleted all. From which time frame should we start? 4 hours. So, if we zoom in and zoom out a little then around this level we will have, here Ok We have to make one more level, where would we make it? It will be made here only, the support. Ok if we want to make one then we will make it here. Ok done. Ok, if you want to make an upper side for the target then what is to be done? If the breakout is coming for the target.
What is to be done for the breakout? What should I do? Should I go to a bigger time frame? Let us assume that we have to go to a daily time frame. If we come to the daily time frame then above, can I make the level here? All these are ok, draw a line anywhere you want there is not a problem. I will draw it here, ok. Now we have come again to our smaller time frame of 4 hours. Ok guys, according to market structure theory what are you able to see? What all possibilities can be made here? Here, it can be wave number 1, 2, 3 just like it happened here, see. See, it happened like that only. It is just like that only, again, correct.
It is a possibility that it can happen again. It is possible and it is also possible that the market would come here and break the neckline and give a target like this. Correct? so what is the trend for the time being. We can see the trend is positive. What is the trend here? It is a positive trend.
It is a higher high, higher lows according to trend. Now let's come to the 1 hour time frame. After coming to a 1 hour time frame, what do we have to do? We have to go to the price and have to find chart patterns. Can you see the chart pattern here? Are you able to see something like a flag and pole? It is a little difficult to understand but can you see it? Yes, we can see the inverted head and shoulder too. How is it visible?
It is visible as if it is a recovery. Greater than the inverted head and shoulder, a big momentum and then consolidation is happening. Can you see it? Now see, it broke it. It has broken it but should we have short it? You can see here that there is an important support, can you see it? Here there is support. Right. Here also there is support.
Can you see it? Two support we can see but can you see above there is resistance Straight here so where will quality of trade will made Here it is making 73 and this 178 and if we take trade upward for example straight from here So which trade has less barriers Above one has less because market there Above one has less barriers because can you see any resistance in between Are you seeing can you see? In long no resistance is showing But in support many small supports are there Here are also barriers here also a barrier See this here also a barrier Yes, we can get trade in 15 min time frame that is no big deal But in 1 hour there is a problem small target are there in 1 hour So what I did here after coming here I draw some more levels Can you see any chart pattern here? We can see that right now it has If want to make trade in small time frame If we go to smaller time frame see Is it giving you sell in 1 hour time frame Is it giving sell in 1 hour time frame right now In 1 hour it is trying to give sell Confirmation hasn’t come because by luck We are lucky right noe that green one has made But in present tense with red we could feel that it could get short But green is stopping us right now In 1 hour time frame, right? if it gives closing above, so will we sell? No we won’t know we won’t because we are lucky If we see here so we say yes, yes sir, let’s see retest And see what will happen in retest in 1 hour time frame it can be sell but no In 4 hour time frame is it a sell ? no, it not sell In big timeframe and if we come in 15 min time frame, so is it sell? Ok are we at retest point right now in present tense Because it also broke here and betrayed then ran again so what we have to do Now if market from here if market from here starts coming down and break this level So will this be my entry point and this my target in 15 min time frame This will be my entry, ok and my stop loss will come here just above this level Whichever high it’ll make and target will be this target is bigger than our stop loss We have to plan trade like this so this is how you can generate a trade in Forex or in anywhere in forex what happens market opens for big time so many opportunities we get Ok so here sells trade is done in 15 min time frame If red candle is coming ok now let’s do a thing They go by complimenting things what did I say These all pairs go by complimenting each other if this’ll go down Let’s see if it going down will it go down If EURO/USD go down so USD/CAD will go up because it has putted inverted So let’s assume if we analyse this it seems bullish to us So it can go bearish we have faith come let’s see Open USD/CAD and go to its 4 hour and come from up to down And go to 4 hour and delete everything ok now make level will make one level here Important and make second here according to recent price action And will make 3rd here and 4rd could make here But it’ll be too many levels, ok now what to do? Now which time frame we have to open 1 hour and here again have to make level and work How are you seeing pattern what kind of pattern or price action you observe over here? Ok, now looking like an uptrend no problem can someone see head and shoulder Yes, we can see cup also in right shoulder in right shoulder there is cup A head and shoulder like pattern is also made that market drops from this level It falls from this range see the box I have made from its body to its body Of which? The box I have made from this body to this body does it fall from this range And earlier when it goes upward earlier so couldn’t it sustained See, practical kind of head and shoulder That from that range it falls and above that it couldn’t sustain So in 1 hour time frame which we have to see chart pattern what is making here Right now, head and shoulder means can I go long until this level is broken No, I cannot I should not go And what I saw above that one more resistance is there Is it there why is there a resistance does someone remember Because in 4 hour time frame there was closing there Can you see? there is body that’s why there is resistance And according to 1 hour timeframe here is also a resistance tough trade tough trade right? In 15 min maybe it gets better But it’ll be only activated for bigger timeframe when a proper breakout come here right? So what we did? which 2 timeframe we analysed? Analysed which 2 timeframes? 4 and 1 Means high probability of this it is tough towards up If we talk about sell if we talk about sell If market give heavy bearish candle to us here If give a heavy bearish candle to us here, a very strong red candle And engulf this level so am I taking a resistance from a very good place Assume here an evening star pattern is made so does evening star pattern is making on good place Making on right shoulder and retesting right shoulder That this head and this shoulder, this head this shoulder and this shoulder broke And again for retest to that level And to retest again it come to that level and if here an evening star is made Will it be a good sell trade, easy sell trade have to enter and put stop loss here, risk is till here only If this level breaks so we will get this target ok guys Less barriers are there This is below side perspective I have explained above side perspective Now let’s go to 15 minute Ok, everyone understood what are we doing It could happen that your view didn’t match my view that’s ok Just keep looking you’ll understand slowly And what I am telling is it necessary it’ll happen It is not necessary I am making plan for myself because I am comfortable in that plan which I keep made before hand Right? so I made plan like this Now I’ll come to 15 min time frame In 15 minute timeframe which trade we can see activating nicely See carefully and tell Here Look here a nice bullish breakout came that market took support at double bottom Gave breakout took pullback and then gone and gave target Gave but right now it seems like sell situation There is no trade opportunity as of now We have to mark levels here again to trade So let's do it Have I drawn this line correct? Let’s make a box here Ok Have we made correct box for trading on 15 min timeframe Above on that market will bullish Ok can take support from here can take retest Will market be bullish now I’ll delete it now I’ll try to make target so it is made correctly Ok correct ? can it breakout here and go above after taking support Yes, Of course it can happen, why not? That's what I am saying Yes, it can happen So if here after breakout and going down if it breakout So we should target target number 1 or We should straight target this if we are entering here Ok So this a buy trade if it is closing above this level, we can buy and close this target of 47 PIPS And how much will be its stop loss if we buy it here So definitely below this 26 or 25 PIPS target will come of 26 PIPS Ok guys in small timeframe retest trade is possible it is also going Let us see if it goes above like this so we can do long Ok done Ok done so this is our USD/Canadian dollar If it is going up so it should go down It is complimenting right It is complimenting which means Do not take trade, right now just watch Ok If it somehow after reversing and making double top break it and come below this level This will be our target Ok so after all, what we need? We want closing here or closing here, over Ok Ok, that’s it Just have to have patience let the market come In coming 15 minute candle in 3-4 candle we will get to know in 3-4 candle in 5 candle in 6 candle That is market giving closing above that level or giving closing under my zone If gave below so have come again tired If gave above so means breaking out of resistance I can make target here Ok we made 2 target, did you understand Ok on this basis if we want to analyse Gold This is gold XAUUSD so what will we do should start from which timeframe Every time 4 hour, can start gold in 1 day In gold can use daily time frame What is seeing in gold in daily time frame how it seems to you Can we say a very beautiful triple bottom pattern breakout and retest? Ok yes a very beautiful triple bottom not double bottom pattern On a daily time, frame breakout and retest right now Ok so we get view, What does view say? does here a good that coming? Reversal coming was going in downtrend since many days Does market has change its downtrend Market tried to change trend here and how we say buy in trend line only when this level break out So that level broke and it is taking retest from that only So clear cut it seems gold is trying to change its trend Means what was the market till now, in which trend it was till now? market was in down trend does market is trying to change the trend Lower/high, lower/high, lower/low, lower/high, lower/low Right now a higher/high has made and started higher/low compare this high from this high And compare this low from this low does trend changing can you see So it’s trying to change its trend right now, Ok nice What we came to get Came to take level at this timeframe, to take level in this timeframe Yes, level is Ok and and what but from where taking level is better From 4 hour is better if we take from here so We’ll get bigger level So better let’s go 4 hour timeframe It will give us more practical levels So it hasn’t changed, do we have to change level Which we have drawn there is no need to change the level right Ok made one here and make one here Take bro and show me by making trade in gold So to make a trade in gold so what should we do Where should we go in which timeframe nothing else is visible Now let’s go to 1 hour yes yes See now you, now it depend if you are seeing this like this Came down bear flag down bear flag down double bottom retest right so I made a line here If it remains above this line 1748 so is it bullish for sure Ok If we get breakout we can enter in 15 min time frame, we’ll get this resistance Will takeout this taking entry is necessary to keep small stop loss If breakout comes and then target we can make target number 1, 2 like this Ok and if this if this gives bearish breakout so can I consider everything like a bear flag If this gives bearish breakout So I will consider it as a bear flag also So see there are 2 views don’t consider anything final Who will tell which is final that will be told to us by time After some candles, a bigger candle would be made. Whichever big candle has been formed, we will go to that side. Ok, are you able to understand how to use price action? This is the main strategy that you have to follow where the time frame, candle, chart pattern, view, market structure, trend, all this you have to use.
I have a few made up strategies but the win rate of those strategies happens to be lower when the market behaves in an awkward manner but this one strategy price action when you master it, you will be able to earn money in whichever market condition. So this is it and I will focus more on it only from now on. I am doing it only, Ok. Ok everyone so should we buy above? Should we buy on the green breakout? Or should we sell on the red breakout? Will it be a good trade? What did I just say now? This statement which is there of mine is not true for every time. Most of the time you will not be able to understand anything. Sometimes you are not able to understand that here it is this, it is that.
Ok, let me ask you one thing, if we randomly wake up in the market, will we get this kind of data which I am getting now? Even I am shocked that we are getting good setups. Are we getting good setups right now? Yes, we are getting good setups right now. It is being made like this now. Do you think we get every time like this? No, we don't get it. Our condition becomes worse to make the Forex analysis that brother, what should we make? We are not getting anything. Most of the time we don't get entry in the stock market, we don't get entry in NIFTY, so that is the time
when you stay on the side lines. That is the time when you sit silently, Ok. So, lesson over here. A very important lesson over here. What did I say? A very important lesson over here.
Always remember, never force a trade. Don't try to force it. If you are getting made beforehand then trade or else leave it. Ok, done everyone? Ok, Ok, now somebody asked me. Somebody asked me Ok, would we take an entry in a 15 minute time frame? See, if I make like this on this time frame then is it necessary for me to go at 15 minute time frame? Already the size of the candle is small. I have to take an entry in this 1 hour only, in this trade.
Let me take an entry at 1 hour in this trade, it is very beneficial for me and for upside if I want I can take 15 minute time but for downside, for downside, see for upside see carefully. I am about to tell you a very important thing. For upside, is my analysis only for this much area? All my universe for upside is in this, the concept which I had made of double bottom breakout. Now tell, with this amount of data was I able to make the double bottom breakout? Right? For the long trade this is the universe. Whatever analysis was done, with that the universe is formed, correct? Ok, so can we go on for 15 minutes also? Yes, because it is a smaller area only. We have not taken a very big area.
But when I am making bear flag data, bear flag story then am I using the universe this big? Am I right? So would it be Ok to use 15 minutes there? It would not be wise so I have not given you a bookish answer but taught you a very mature thing. Whenever you get a question at which time frame should I take the entry? 5 or 15? Your analysis is bullish or bearish. Just like this is bearish, so how much data have you collected? Brother we have collected a large amount of data then in a small time frame it would be chop chop. Chop chop meaning it would be cut, Ok.
that is why we have to see this much bi amount of data, Ok? Ok. Where will be the entry in this? We had decided now only. If the big bearish candle breaks it then we will consider that here there is a breakout of the bear flag, right? Where will we get the confirmed entry here? If there is a big red candle that breaks my 17548 level, correct? A very big breakout would come here so can we short? Ok, has it come to you? Where can I see the entry? Are you able to see it, the bear flag entry? Ok, Ok. Ok, now I will ask by removing everything.
Are you able to see it too? The double bottom, double bottom breakout bullish entry over here. Ok. Done. Did I use any of the one concept which I have not taught you? Ok, all these are practical, live examples right now which are happening in the open market. Ok, now let's come. We saw the gold,
let's open BITCOIN. Now, I have to analyze BITCOIN then on which time frame would I go first? 4 hours. Let me delete all earlier data. Now what do we have to make? I am telling you BITCOIN as an asset is not good for trading anymore since a lot of time. Since a lot of days.
I will be honest with you. I have not myself, meaning from the past 6 months I have not done more than 2-3 trades in it nor have I made the Crypto analysis. Because it is behaving so wrongfully that you have taken the trade then you can't sit peacefully. It will go above; it will go below. Are you able to see it sideways from a long time? Around 17 days it has not given any good trading opportunity to anybody? No, it would not have been given. It is an obvious thing. It has not been given. If it is giving, then it is giving this much big trade. It is giving this much big trade.
It is giving this much fake breakout upside, fake breakout. If it falls, giving such a big opportunity then it is not giving anything. So here, trading has become tough. It is my suggestion that all the new people who are starting just forget it. Just go nicely with what? Just go with pairs trading, DOW JONES trading. Do not give attention to it. So, analyze it guys, let's make the level anyways. Maybe in a few days the market will get stable.
Now there have been scandals like FTX, and all there is a problem in the industry. Assume that industry has become right. How will we make the level? Will the first level come here? Ok. Are the levels correct? Just tell me if it is right or not? There is one option to draw here, there is an option to draw here, there is an option here too. If I Assume that this is a floor then which floor would be very important to me? Which will say finally that it broke? This one? A, B or C? Which one would be the final to break on a closing basis? It is obvious that C is the one. On a closing basis, it is more important, right? Assume that I would have short and a great profit is going. I short and the profit is going great.
I should cleverly book the profit where? On A, B or C, In this case? being wise is at which poit? To save our profits, it's obviously A. Here it is in A. See, without applying brains there is no trading happens. In some the answer is A whereas in some it is C. Here I will save my money because it can happen that the market would run up.
My job here is if we have great profit then book that profit. Now I have to initiate a new trade then if this one breaks then I would not initiate a short. See, it took support from here, from here, from here it went up. So did you understand how to use common sense in all these things? I hope your doubt is getting cleared up of which level to use. If you have to initiate new trade then it has to be at the final breakout, am I right? And if we want to book profit then we are safe. We become safe, we have to go, am I right? Done so I hope you would have understood where to make the levels.
Where will the second level go? Now I am getting to see one at this type of level. Everyone please look carefully. I can see one level here. Can you see this triangle breakout? This triangle breakout at the down side and can you see this retest from the same trend line? Correct, So if this retest works then we will get closing below this level at 1 hour time frame. Should we go in a 1 hour time frame? Let's keep our view bearishfor the time being. Symmetrical triangle breakout down, retest and then let’s come to one hour time frame.
Ok, so we have to smoothen up the level, Ok. If my breakdown comes below 136328 then can I short and book this profit? And if this breaks in retest, this has become a box now, a box of BITCOIN. Finish it has become a BITCOIN box and if it gives the breakout above then uptrend. Ok guys,
you see how we created this trading opportunity in BITCOIN? Ok, now, let's checkout DOW JONES. Let’s see DOW JONES once. Let's come to DOW JONES and on DOW JONES. DOW JONES we have to trade then assume we have to do swing trade. I should start with which time frame? Using the same philosophy, same ideas, which time frame is meant for DOW JONES? What is DOW JONES? It is the index of the stock market so should I prefer 1 day or 4 hours? I would prefer 1 day.
I will go for 1 day. Ok, I will go one day and make the level. I have made the level in the perfect place already. This was the recent high. This was the recent high, before that it just fell down by touching the wick. Am I right? Can anyone see this? It has fallen recently here only.
Let's check the 200 moving average. Oh, it has broken. Has it broken with retest? Has it broken by retesting the 200 moving average? Yes it has broken. Now close it. Check 50 if you want There is no need to check 50, we have to do 200. Now if we see here then is it a direct breakout? Is it a direct breakout? Or is it doing its job moving like this? In this there is that secret point breakout in it right? What is the first point of a breakout secret? Do you remember it? Have tested the level. What is the second point? What is the second point? Yes, distance should be shorter. Distance is shorter.
Is the distance short? We are starting to break out from here now and has it consolidated here? Has it stopped before breaking for few day? Now look at this, it might be a good breakout. That is why I said that it can happen to the final dollar index maybe. If it sustains the breakout today then DOW JONES at this level where I have put the mouse, 34000 let's take the round figure at a bigger level. 34000, at round level. It can become very clear that DOW JONES is above then it also will try like NIFTY.
It will also try like NIFTY to make a new high. And if it makes high/high. Global market would be positive and BANK NIFTY would become bullish. Ok, so it is connected. Ok, so it is connected like that. So this way, there is a lot of connection between the markets because the global market works the same. So this is how NIFTY might be bullish if it gives closing on upper level and makes the all-time high like NIFTY. Ok So I hope you guys are getting all the market views and the trendline, all the price action. Today's whole class is price action
because that FOREX class which I did was a high level price action class. Ok Ok so this is done, the analysis of DOW JONES. DOW JONES and NIFTY same. Now let's talk about NIFTY, let's see the daily time frame in NIFTY.
The all-time high of NIFTY up till now was 18604. If we come here and have a look here it is a very small wick. It is a very small wick of 604. 16000, 18000 I have opened here. Come here, NIFTY is going to touch it?
So what happens in such moments is usually the market touches through the gap and then once the market falls from there. The market falls a little from there and then it restarts the journey or sometimes it happens like this also. Can you see it? Can you see everyone? Market has broken this level.
This was also an all-time high for NIFTY. At that time this too, see now we are able to see normal breakout so people would be thinking that is normal but do you know if it was also the all-time high of NIFTY? See, was it for that time? This green candle? At that time people would have thought where the NIFTY would go up? Just tell me, just as we are assuming that how NIFTY is going to go up then at that point of time would they have thought where the NIFTY would go up? They must have thought like that where will the NIFTY is going to go up? The life of NIFTY is this only. Now see, how big level does it have to be unlocked? This big, so market in the long term, it can happen that this big level would get unlocked that market would touch 20000. We don't know. Nobody knows. When there are no such talks in the market at that time NIFTY goes up. When there would be talks then NIFTY would go at all-time high, news on my channel, all Diwali and then the market starts to fall. I have always seen this.
Ok, so this is NIFTY all time high from the trading point of view. It is very much difficult to trade. It’s not easy, now in such situations a swing trade is going long or holding then he can manage. Intraday traders are waiting so that the risk reward is maintained, making some double top, triple top, and smaller target.
So it’s not easy to trade anything right now. Right now your job is not to trade all the time, your job is to have the view. Ok, so guys till now what have we studied? Did you enjoy what we studied? What did we study till now? We studied price action. It was a price action practical class where we made a view, level and now we have to see what happens in the market. Ok now let's take a break and let's start a new one, let's start a new one. Best class till now, Thank you so much.
So we will now make our new topic different. Yeah, too much to digest, I know everyone. Anything in the beginning is hard. And will you agree that whatever I taught you or opened, that I have not prepared and come that I will open these examples only. I opened anything, made anything anywhere and I made you understand. Why?
Because in this watch list the first one is EURO/USD and second is USD/CAD by luck. If it would have been there then I would have made it too. Just like USD/CAD, just like USD/CAD. How would this AUD/CAD become?
This will make a difference. USD/JPY? It would become like USD/CAD. GBP/USD would become like EURO/USD so it is similar only. You don't know how many patterns, you know there are pairs in this No there are not many pairs, theory is the same in it. Alright, so I hope you would have enjoyed watching this class. You would have learnt and saw price action, how components, time frame analysis to top down.
What is the respect of levels? Why do evening stars and morning stars fail? All this thing you would have been able to learn. Now I would be making a lot of content like stories, psychologies. Life management is an important part in the life of traders because for us what is our asset? We, ourselves are an asset, if our mindset is calm, if we are intelligent, if we are able to keep patience, discipline then we can do a lot of things. So I would be starting to make videos on that real soon. And you all
will definitely have fun watching them. If you loved this video then do like it and share it with all the trader friends and lets meet in the next video. Thank you so much.
2022-12-03 17:42
