Letak Candle Konfirmasi || Confirmation Candle Position (Trading)
I suggest you to do more practice. By practicing it, at least you prove the material If you do wrong analysis/order, make a note. Write your fault down.
I hope it can be useful. Any more question? *Opening Music* "I want to ask. It's not about yesterday's market. If we think the trend wants to rise and it breaks the top psychology level.." "When it pass, we think that it will continue to rise" "The candle position passed it. Suddenly, the next candle goes down" "How to read it?" If the candle goes down, the next step is we save the transaction first. We save the stuck transaction first. How to save it? We read the condition again. For example this one
It's here It rises. I mean, Buyer is strong to rise Then, it passed the psychology level Then, the second psychology level isn't passed. It means that it still has potency to rise For example, we order Buy in this red candle by using breakout as the trigger. Turns out, after we order Buy, the market goes down suddenly So, the first thing we consider when we take position is, limit the loss. The loss is around 400-500 Pips. It's around here.
In this level. This is the SL. SL is to protect our big budget. So, we're still in the safe condition. That's no problem if the SL is touched.
If we get loss, we count it the pips x Lot. At least you use 20.000 Pips for the durability If you're newbie, I suggest you to use 50.000 Pips. But, if it's too far and the Lot is too low, you can decrease the durability. But, don't use less than 20.000 Pips for the durability
We just count it to find the Lot. For example, we use 0.1 Lot. We order Buy 0.1 So, our maximum loss is 500 Pips x 0.1 = $50 It's far. Don't use the durability less than 20.000 Pips.
If I have $5.000 for budget, I must use measurable Lot This is the formula to count the Lot, Budget : durability. So, we're still in a safe condition. If we read the analysis in detail but we use the Lot randomly, our budget will run out. That's why always pay attention to the risk and Lot management So, the Lot we use is $5.000 : 20.000 Pips = 0.25 Lot
If the Lot is 0.25, our maximum Lot is.. 0.25 Lot x 536 Pips = $134 It's around 2%. It's still safe. 2-5% is safe. Then, how to face it? We talked about Lot and now, we see the condition when the market isn't same like what we order. First, always re-evaluate the analysis.
First, we get loss 160 Pips. It's low. When this red candle finish, don't close it soon! As long as it's still safe, we can let it move. Then, we read it. From rise movement, then there is up rejection, This rejection can be clue that Seller will show up. Next, when red candle shows up, that's a shape of up Seller The Seller which showed up previously Be careful if red candle and rejection showed up, it can be clue that the market will reverse but, to make it sure, we wait for 1 more confirmation candle which is red.
If the next candle is green, we cancel to order Sell. It means that Seller will be strong but it's failed It takes time to re-evaluate the analysis The point is, this candle is thick. It wants to go down. There is time we learn to meet this condition It rises and there is rejection at the top. Then, the next candle is thick, red, and without rejection candle Usually, in this condition, it will continue to go down.
When it goes down, doesn't mean it will go down long directly We may use this condition as the trigger One day, we'll know that will it be valid or no? To know the validation, we read the condition For me, it has clue that the market will go down but it's not strong. Because there is no confirmation candle. Because there is green candle after red candle Although red candle goes down again at the beginning. If the trigger is here (this small candle) and we take Sell position, we still get profit. This is a part of the trigger.
It's ok if you use this as trigger. When it rises and it's unable to rise.. This green candle has rejection and the rejection is formed by this thick red candle without rejection We can utilize it to order Sell Don't take too much for the target. Because it hasn't been strong yet
This is the beginning. This is the shape. turns out, it's closed by green candle. If it's like this, we wait for it again. Will green candle continue to rise or it becomes red candle? If it's green candle again, we confirm it If it rises taller than the previous red candle, even it's breakout here Just assume it as green candle. Buyer shows up by closed like this.
So, we can hold on. Because it has chance to continue to rise The red candle is eaten out by green candle if this candle is green. In reality, after it rose, it's unable. It goes down. So, red candle is formed. It also has tail on the body We must beware in this condition If it's unable to rise and red candles formed, we must realize that Seller will be strong to go down.
Because Buyer rose and it's not strong anymore. Moreover, if it's closed by bottom lid. It's under the green candle. So, green candle is eaten out by red candle If it's here, we focus on Sell. This is the confirmation candle So, we can order Sell here but we let it rise first. If we take Sell position after the candle changes, that's ok.
Because the indication starts to show up here. It's unable to rise and closed by red candle If we order Sell, there will be floating again. We must measure it. If we order Sell here, we limit the loss at around 400 - 500 Pips At this top. There is SL here for ordering Sell. That's if we take order directly.
If we let it rise as strong as possible, then it's rejected by Seller. It changes to be red candle and thick We order here If we let it rise as strong as possible and thick Seller candle formed here, we order here. That's if we wait for Buyer finished the candle first If we take order directly, after the candle changes, we order Sell here and put the SL is at 1808 It was because there was unclosed Buy It rose first. We got profit form this.
If it's untouched, actually it rose. We still get the profit. If we didn't open order there and the candle goes down, that's no problem. But, if it's still available and we didn't open position, Buyer is still there, The Lot is 0.1 if we take Sell position. Because the direction is getting clear, we increase the Lot. We can increase it 1.5x or 2x. For me, I increase it to 0.2 Lot The purpose is to save the top transaction. So, we don't need to wait for it move long. The important thing is the loss transaction can be saved.
We focus on save it and read the movement by movement The point is it still has maximum safe limitation here Let's say it goes down up to this Then, we take it at above. So, our loss is 417 Pips. It's $41.7 Meanwhile, our profit is...
We order Sell here; 188 188 x 2 : 10 = $37.6 The minus was $41 and the plus is $37.6. The minus is around $3 left If we more focus in facing this, sometimes, we close it earlier Sometimes, when it goes down to the bottom; maybe it reached 163. We close it quickly. We wait for the Buyer for a while. Let it correction. Then we close the Buyer When it's strong like this, we close the Seller soon. We close the profit transaction first. Meanwhile we wait for the Buyer for a while after there is up correction.
For example, the up correction reaches this end of tail So, it will reduce the loss. It's 386. It means the loss is $38.6 Then, the profit is 219 Pips 219 x 2 : 10 = $43.8 So, $43.8 - $38.6 = $5.2 We still get $5.2 for the profit
We don't need to count it. It will be counted by the system. We'll know the plus and minus accumulation at the top left side if we open Meta Trader using smartphone It will show up there So, we'll know the profit and loss at the top left side If we want to save it, when the loss is low, we may close all of the transactions It's just technique how we take action. Many techniques which must be practiced later. "Yes, sir" Yes, Mr. Ismail please "When the candle is green, and red candle formed, is it a confirmation candle?" The red candle is confirmation candle So, confirmation candle doesn't mean must be here directly First, this can be a confirmation candle. This red candle. Second, if we combine these red candles, the green candle is lost.
So, green candle doesn't have power "I also watched a video on YouTube in the morning. I tried it twice, that succeed... *unclear voice*" Which one? "I watched the video about morning analysis" If it's possible, wait for it has clue too. In the morning, market always becomes the basic for the opening. Opening is the key.
But, if we apply it wrong, we feel doubt If I explain that the opening is green candle, it has potency to go down. There is green opening candle and we can order there. But, we don't order Sell directly. It's ok if we order it directly but we must consider the risk
It must at least hold the long floating Sometimes, we can order Sell directly here We've tested it above 75 The Sell is here After that, it rises. It means, we get loss. The close is still here. We get loss. Next, it goes down again. It goes down here. We get 118 until this bottom end
Sometimes, we just focus on the 100 Pips profit target, so we always wait for the movement Reaching the target isn't a must. Asian market movement isn't too big. - "That's the opposite, isn't it?" - Yes, it is. "This morning, it was green. So, we order Sell, right?" Yes. It's ok if we take small Pips. If we take big target, above 300 Pips, that's daily target. If it's far, that's our risk. We can risk it earlier or we can wait for it.
If we use it directly, the risk is I get floating But, it's better if we wait for Seller's clue show up This is the example. There is green candle here but we wait for Seller's clue. For example, there is Seller candle but it's not strong yet. It's just 1 candle. We wait for 1 confirmation candle. If there is confirmation candle, we can take order. That's safer. It's ok if you want to take order directly Let's say this candle rises. We have 800 floating. We still get profit
I mean, when we get floating like this, is our psychology level strong enough to face it? If we take the profit smalls, we get much profit. For example, this one. It can't be in 1 day If we take Sell position directly, we get 2.000 Is our psychology capable? I often suggest you to wait for the clue here. Are there some red candles line up?
If not, we don't use it. We focus on technical. That's the most important thing. Sometimes many people don't understand. They order it directly. Meanwhile, it can't be finished in 1 day For this, we get it. For another. This red candle. I haven't seen this morning condition This morning, we got profit. That's quite good.
If the market is small, reduce our target profit If there is long candle, please be careful. For example, if there is long green candle, please be careful. It's better to finish it first then we look for another opportunity. Because it's very dangerous. This is the example. This one is red This one is green. The potency should be Sell but, if long green candle shows up like this, please be careful.
If there is long green or red candle in the morning, please be careful. Usually, it will continue again. There are another opportunity but it's quite longer If we order it directly, we just get few profit. We take it here We get it here That's if it's not too long.
The most important thing is, it becomes the early clue. There is clue that it want to rise but we must see Buyer candle showed up For example; this is green candle, which means it has down potential. Down potential when the next candle ate it out or the candles start to line up. We can utilize it. So, we can take Sell position here. In this beginning green candle. Getting 240 Pips is more than enough if we want it fast. It doesn't mean we take position directly. Sometimes, we get profit directly
But, for cautions, it's better to wait the stronger clue again there It's as the beginning clue. You can manage and test it again later. When I tried it, the validity was around 75% Sometimes, we must cut loss it earlier. That's the risk. I don't give you heaven wind. I still give you technical material fully so that we really understand it. The up and down is based on the formed candle structure. that's another part and initial clue for your information. Well, thank you Mr. Ismail and Mrs. Nia. Time is out.
We can discuss this again on the next meeting. I hope I can teach tonight's class Be ready for tomorrow. There will be high-impact News. There will be News on Friday night. I'll guide you how to read the News.
Thank you all. Good morning! See you next time!