Currency Trading Todays Analysis for Tomorrows Trading
Just. Before we start the show here's a quick tip for you'll never miss a live event make. Sure that you click on the subscribe button, and. Then, make sure you click on the small bell here now. You'll be notified instantly when, I go live. Good. Morning good morning, very. Odd, welcome, to, currency. Trading, talk in the mornings a, little, bit late. This morning I wanted to get in here by 8:30 but, some a little bit late never mind anyway this is an extra broadcast because we went live yesterday but. Like I said we're going to be doing these as, and when things come up, if something's, applicable to, - then, I can show you. Advance. Any learning or help in any way that's what I'm gonna do I'm gonna get straight on and do that so. We got the chat window of this morning's throw away you can come on there any questions, just pop your questions. In there and I will see those almost, immediately. But. We're going to do is this, morning we are going to get straight over, on the. Pop. Charts anyway so we can get, straight into that just, going to check on something here because oh there we go so okay I've got a property I'll put now throw oh good okay. So let's get over and have a look on the, pun charts and see what's been happening. Now. Yesterday we. Had a. Great. Session really we went through and talked about what was like is he going to be happening and we, looked at the stock takes we're gonna what happened, we, looked, at the. Retraces, and then we looked at the targets so I came in this morning had a quick look and it's very interesting to see how pretty. Much all those targets were were reached, now I've just noticed, that, you. Can't see the the. Full chart can you what's all on there so I'm just gonna make an adjustment here, if. You just bear with me just for a second I will. Make a quick adjustment and. We. Will. We. Will see, what we can do. That. I. Don't. Think that's what we want. To. Apologize about this this is something that's happening now they. For. Some reason the. No. We didn't want that either. Yeah. For some reason. That's. Not gonna work either. Okay. That's not gonna be very good at all but I'm not gonna be in Ashe I'm gonna see if I can just. Pull. The windows down a little. Bit and or, expand, them up won't you do that for you rather. Me trying to get the setting right. There we go let's just do it like that. Makes. It all quick cuz I can't just click on them and put them on full size for you but I'm sure we can manage okay. So kicking, off on the euro what happened there let's get. That up God, now I'm having to go operate on the small screen. Okay. So we talk let's just get the all, the lines off kick them all off. Good. Morning Paul good. Morning, Goran, good, morning, Mac item. Tanzania. Tanzania Tanzania midnight. There oh well done mark. Staying. Up late. Makes. It worth world me getting in a bed earlier. Okay. So we talked about this yesterday we're talking about the stock take and. We look for a retrace and I'm very quickly gonna run through these charts because really you, know there's nothing going on tomorrow it's gonna be sadly tomorrow so really this is just a recap of what we talked about yesterday and how the markets moved so. Let's just pop that on we can see that, it. Was a retrace that nice, and clear we got into there and, let's. Look at our targets. Target. Try d2 down here see, that later on actually the market then sorry, that was just he wasn't it then we talked about that didn't we on the move down there and then we talked about how, that we got the stock.
Takedown Here let's just call, Paul up oh. He. Said about the stock take here and then the move up and then we look for a retrace I did. We got a retrace on there oh we did indeed there we go so, bang right on the nose there so, then we look at that we had the accumulation period, stop take which, told us that this was a good accumulation. The. Market then gets. Into, you. See the jump up bar coming through here strength comes. Up gives us a nice retrace, nice entry there and, I'll just drag that down to the bottom to see if we, got the 90. Pips on there. Do that. There. We go so let's just pull that down to. There okay, mark it hasn't hadn't hadn't, done the 90 pips this, is what I said this markets, against the whole trend says something, all would be cautious of like we talked about yesterday especially with me the stock taking the two directions, but, nevertheless there, was everything there. Nice. And clean for a year paid, trade so, let me just get rid of the euro. He's. A bit messy this morning isn't it with this some, dragging. These screens, about for you so I'm really sorry about that but. Another. Thing for me to check in the morning before I go live. Okay. So I, carried, on well. From down there didn't it so let's. Have a look what we got there. So. We talked about that, I believe, stop. Take through here. We. Talked about our retrace. Through. Here there was our retrace, and. Market. Goes on to them to, get to our target down here and, I said to I think the market you know I'd be looking towards the downside, continuing, for obvious reasons a little bit there I'll be leaning towards that downside. Let's. Have a look how much that market has moved. Nor. Even within 45, pips so we're going through good. This is a nice accumulation. Area through here this, is very, good this would be quite exciting, next week we're, gonna get some good moves coming out of this is like. When the market goes into accumulation. Phase all, sort. Of all day it's, just racks around now this is where I often, talk about traders. Who trend the base so trading their tried it try sorry. Base. Their trading on solely. On a trend developing. Because you don't know when a trends and develop and so. Then so as to take time for that then you get into that trend and it could end at the end of that trend now, the. End of markets, on average, will only trend two days out of five which, puts the odds clearly against, you and. This. Is where the, often. Here getting a game out some traders where they say they. Make, consistent. Money over a period of time and then they give it all back. Within the week and, that's because they get a trending market they, identify, a trending market that's okay they get into it and make money very easy, and then, when. The market goes back into what is going through now this period here then, they end up giving the money all all back and that's.
One, Of the main, problems. With trading actually is where they able to easily make money in a trending market but, then they give it back over the next three days so generally, you'll get two trending days out of five so you can see the odds there are working very much against you that's why you need a method that. Will, identify, trades. Only, not. The, trend for us comes about as a result of the profit tank so we're sort of in at the early stage we don't wait for that trend to develop we are part of that, trend. Morning. Sean born. In Khalid. Stephan. Barratt I love you you shouldn't be showing things like that on here that's not a good news not cool no. It makes okay. Right. Let's call over. Have. A look at, this. God. I hate bagging these things about that is so what, a pain and we just click on them. Okay. So what do we have here. Yesterday. Well. Let's just take everything off Florenz. Remove all the lines have a looks make nice and clear. So. We, have a. Stop. Taking here now this is quite interesting on, here they've got a well worth of a good explanation on, this some people say what atmosphere it doesn't look like a stock take it didn't didn't quite get it, didn't break through the top, the. Main thing what we're looking for is the reaction, after it now of course we that doesn't mean you. Want you're looking at something below for you, know 20. 30 pips below it then that's clearly not a stop take but if you get something comes up at the same height as it and then it come after, that you didn't see the drop down bar you. Know you know that that's been a clean out you know it's been a stood a stop take and, of course we can see the accumulation now, running. Manipulation. And animation running through. This, behind, that point it, comes out of here okay. So now we know we're into it now of course we then, what happens if you look on again we get another one down here you. See we get this drop down again so everything starts to get confirmed on here so at this point we can start there okay now we will take that as the stock take we will take those accumulation. And now let's find out our entry, so, we're gonna get our trade, range finder tool, we're. Going to be following on here and, you can see here that we actually got an. Entry, through here that. Would have given us a little bit wider, stop on that but no problem once that had come away from that never got near it again, so. We might have ended up with the ten twelve pit stop on that and. You. Can see then the market does it again so over, here you can, see we've got another selling. Opportunity, through here and then the market gets indeed on. Its way and then you. Know the power drop, down there let's just see where the market went to. And. There. We go. There's. Our exit at ninety don't just love that 92, not. Just magic. I'll. Tell you funny story about that would be and, okay. So um. Haha. My girl rode that morning, all. I'm. Not sure that's better, or worse. Okay. So, yes. So there we go straight down to the to, the target, as we, expected that to go I. Hadn't. Any mail yesterday that, said a belt they. Were, not they couldn't say the ones who comfortable, with the retrace could, they wait for our after that could. They wait till after we choice and then get in when it sort of got underway again and of course they could no bomb at all it's a classic example when, you see you've had the retrace then. That goes down he gets into this drop down it drops down quite, violently, after that so the power from. That retrace is played out in the market through here and. They said about quick they get in at that point there they would feel comfortable more comfortable doing that absolutely. And of course the problem, is a couple of things not a problem but it's something to consider you. Have given, away a. Large. Part of what you have so if you've sold it here you've. Probably given away 30 pips, so that's, 30 pips you could have had. And. Good. Morning Tony and, so. Yeah, you've sort, of give whay 30 pips as it were but of course you gained a degree of certainty, in the in the trade. The, only other thing is that if you enter, after this where. Do you actually put. Your stop yeah. You're gonna be floating around there for a little while, so. You'd pups have to use a bigger stop. Before. The market then started, to get in under, way and look at this it took out of that it took. About. An hour and, thirty did, actually get down and then before. It went into this final drop down through here so you're hanging around with that with a wider stop. So. I. Personally. This is why I like this this. Retraced, through here, okay. So let's just have. A quick look at some questions coming, in. From. Tony. You've. Just partially asked the question I was about to ask about stock tanks but let me explain again, okay, one. Thing that soya, like I'm reading this and of course you can read this you guys so let me just have a quick read of that.
Okay. Well Tony you've just come on so, that question about going directly, up to the stops we've just covered so, you'll get that. When. You watch the replay okay, there's. An increase in volume for momentum based of the most important, thing okay. Tony yeah so rather than the level is an increase in volume perfect. So you've got you've now deterred you so if you go back on the video when I finished you, will see. The. Here the reaction and you've got it again you've actually just said yeah I think you're saying the answer is reaction yes perfectly, that's it you've got it so even. Though you've got on a little bit light there you. Got it, and. Port early same question, that's, great isn't it the market, actually gave us the lesson today I was. Able to because it didn't go up and just go past that I was able to explain. That. That, only. The increase of activity, and. It's. Also, interesting how, to, users you know, you actually, suspected. That's the thing you've picked up on that straightaway so even without my input on that you would certainly have started. To realize what was going on there which is pretty awesome that's pretty, good so well done guys. Norden. From Houston, good morning, and. Yeah. Okay, so that's good right so we've, had those three. Charts on there let's, um let's call up the final. One for the day which. Is going to be the pounds, and. Now. I know you guys can see this full size now but I am operating on this tiny little window here now where, I normally have this big screen to look at path which is real pain so. That's what I'm squinting, over here a bit there looking at it. Okay. So let's get all our lines, off again and. Just. One other thing before. I just, get onto this chart. By. The way the forum is really really, taking off so do get over on the forum there's a lot of stuff in there building up now a lot of people are answering questions and helping other people out which is really awesome because that's what I always wanted always wanted this situation, where existing. Patch riders or just experienced, trainers we're helping out other traders, and. I'm always, always be there so don't be afraid of putting us a question on an answer on because I will go and have a look at it makes where things okay. I'm. Not policing it but I'm just making sure that you know the real information is on there so get on to that forum because it really is taking, off rather well, Stephan, Barratt said forum is awesome yes it is awesome, indeed. Yes. So anyway so I've seen a couple of charts come in, on. The forum and I have a look at along the bottom you, know along the bottom you can see along the bottom of this screen where we've got all the time frames down they, are all this sort of stuff feeling here and I've noticed that some of these charts, have, up some of these the. Windows that I get screenshot, it have 40, currency, pairs open. And, they're flicking they're obviously flicking, around between 40, currency pairs you know what otherwise why would you have these tabs open on the bottom of your screen, look. You're. Not searching for a pattern here you're looking for a process and you, know you only need to set up to four, I have, for word I know it's all you ever seen me I've been doing this for like 20, years and I have for I think the most I ever had was 8 you know it was when I had like a bankrupt, screen setup and the screens were 17 inch screens and that's that thick you know I just put them on it should be the radioactive. Boom, room, that. Was when I was in Spain, and. Then gradually, down to six and down at four because you just don't need it you just become. Proficient at, a small, number of currencies and just look them don't go off and looking for other things. Focus, on say for. Currency. Pairs and that's it just just, do that you can make all the money you want off for currency pairs I assure you. Okay. Okay. So Oh mark I'll just come to you in a minute mark, TV.
Right. Let's just have a look at the, this. This, last chart here for the day that's our local er we got. And. So. Okay so we have a stocktake, through here. Markets. Come down what's there's a bit of lower them there was no I'm there but, I took another good example here, we can see how they the energy. You guys picked it up it covers you can see how the energy comes out of this after, look you, know out of this so we now look back I'm gonna seal even after this drop, down here this is quite definitive, of the stock take look at the jump bar impact just here oh, of what Oh anyone. Just behind me let, me pull it over there it wouldn't be very cool it's showing you like that. Okay. So look. At this bar, where. I lost it there we go here see, how the market jumps up out at this point I'm gonna move my cursor up so you can see okay. So after I stop take the, market jong-suk let me go down a little bit again and then again, comes. Over and then again and again so now we're getting right into it and this is giving us the. Confidence to say okay we are getting into that profit release so. What we're going to do is we're going to put down get our retrace. Tool, we. Actually had one before that look at that absolute beauty there, come. After that but if you didn't wasn't sure about that and you wanted to wait for this next confirmation. Which would be this bar here. This, jump, up bar here you just see that they'll be on my shoulder, I think you and. Then let's have a look and then there. We go there's, our retrace. Through here down. To the bottom here and let's. Just pop on our 90 pips tool see. What we've got and. There. We go there, our target, again Hey look. Let's. Just get, that over there this is what I say about this business it is so repetitive. You. Know sometimes, I worry about boring, the pants off people, because what. I show is so repetitive in that and sort of there's. Nothing really new that I can show you it. Is, what it is the market makers business model exists, as their business model and that's what they do day, in day out and all, we do is just tag. On the end of it we you know we don't have to do, anything more than that we it's, almost I, don't. Know it sometimes it's like too simple you don't have to learn. All this stuff all you have to do is learn about the business that the market makers business model and then attach yourself to their coattails.
You. Know and it that's, what we're doing get on with it super, to you sorry because I'm. Drying. Up okay. So let's just have a quick look at some questions and, go through there. Stephen, says what are my favorite pairs, to trade well. As you see I'll just have those for currency pairs up there that's thing I don't have I don't say it's favorite, it's. Whenever, I see that the market makers business model in a chart that, is. My favorite, chart that's, the that's, the one that's the one I'm looking at though I see that okay I can see that clearly playing out now see. What's gonna happen okay, that's, the one I'm going to focus on on, there so, that's after, that. Mark. TV I never learn about market makers help me with books Martina cuz I'm new here okay my Mac, Mac, TV I'm go, on through the website learn the trade comm buy, my book yeah that's a blatant plug I'll, show you cover, whoops. Disappeared. From screen, this. One here. It's. Got, everything, in that book that you need to know get that book it's, 15, bucks I think hey, if you don't like it happens it just give your money back you've got absolutely nothing to lose and there's not many people who can't afford 15, bucks for a book it's. An opportunity for a book plug amazing. Okay, more, charts more Thomas green know, can. You tell what okay. Max B can you tell what indicator, the floating zone Center, is lysed lies is. Based off it, isn't based off any indicator, haven't, you there's not one standard, basic. Indicator, that has ever been used in pad I started, from the ground up everything, was frozen so it doesn't it's not based on anything a lot of people said oh it's, please. Open but I can't even think of the name of it now. Bollinger. Bands that's it they said yeah Bollinger Band scents like Bollinger Bands it's not like Bollinger balances is it well it won't look like I suppose. But. I don't really know, what they look like holy, because like so many years since I look at them but yeah, I suppose they do look a little bit like that. Okay. Don't get too caught, up on that that's something to discuss on the forum. There's. Nothing that you're you're missing. Out on I've, given you everything with the model follow the model, later. On you can get into looking at things, like the floating zone and stuff like that but I just want to keep this simple I want people to get themselves making money get them build up their confidence and things. Like that you. Know I personally don't pay a huge amount of attention, to that some of the things that were put into patch software, we're. Putting at the request of users, in the early years and so. We talked about there and we put these things in and then then some people started using it most people didn't but some people did so, I couldn't I didn't feel I could take those things out although all over the years we've actually taken, more out of that software, then, over all that's been put. In in, terms of when we put in blocks as it were but, yeah. It's been a stripping down process over the years the rather rather than adding process, and if that stopped. Working tomorrow, if the floating zone works work didn't, work tomorrow that wouldn't affect what idea wouldn't affect the market makers business model model, at all just another form of mapping but.
Stick With what what we're doing now because that's going to be the the best way forward for you to keep, making money. Okay. Okay. Steven write the books great Steven berry the books great we'll teach you so much thank you very much Steven okay, Myka hey hey. Myka okay, so look guys that's it for today we've gone through that I do hope. We've. Finished. Everything all this John on their comments on Friday, be completed, the Prophet released accumulation, look at the left stocktake, reaction, yeah we just cook, it's. All pretty cool that came together okay. Well I'm off for the weekend I'm going. To fish in the canals at Toit's or I'm going to catch these massive, great salmon and I'm gonna smoke them and probably eat them well, not eat the whole salmon but it's going to be pretty cool and, I. Don't, have a great weekend so you have a great weekend I will catch up with you back I'm probably on Tuesday, it's probably probably gonna be a Tuesday Wednesday and Thursday I'll, pop in and see. If there's anything cooking up on the charts that I can pass, over to you to. Get, you don't look to me to be, the, that. Don't look to me to don't. Set, yourself up so that you think you have to have me to do this you don't I. Love. The idea of you everyone becoming independent I don't mean you I'm not happy to do this I am I really enjoy this but. Yeah. This exists independent, of me this is not something I invented and I don't claim any fine to this this is simply, the market, makers business. Model that we, are going through on that on a daily basis thank, you very much for tight lines I will, try my very best car, promise on that but, we'll see here we go so I'm great weekend now I'll catch up with you a very sir just before we close down don't, forget make sure you subscribe to the channel and, also click. On the notification. Bell. You.