Trading With Key Level
this is our take profit 1906.05 is our take profit Another case. I just find random example. Take a look at this There's trend. Look at these candlesticks There are many candlesticks in a trend be careful in ordering the opposite, it's very dangerous This is an up trend and then correction going down a bit Goes down, then up. Why this doesn't continue?
Because there's key level at the left There's key level at the left. There are rejections here key level is not only based on shadow but it can be an opposite candle the candle changes color and there's angle, like this It goes up. Then, without any correction the market goes down So, this is a key level. This is also the key level area. This is also the key level area
If the buyer goes up, and can't breakout the key, the resistance In the next candle, the buyer tried to go up higher Buyer tried to go up, and then stopped there This candlestick, the shadow It's the characteristic of the candlestick. Buyer power stopped there Buyer power stopped there. It has no power to continue It means, we can understand that If the buyer power stopped there, then pulled back down, then seller is dominant so as our lesson before, if the area of the resistance or key level and then the color changes, remember, it becomes our trigger It becomes our indicator that market will change from down to up When can we order? we just need one confirmation look at the next candlestick This is our confirmation. We order in the next confirmation, on the green color We order sell. Why? Because we have a trigger there We can order sell How about the risk management and take profit? Look at the the top of the left side there are many rejection and then we can choose Then, we can choose one of it as resistance This is our stop loss, at the resistance 1886.50 is our stop loss. and then when we can put Where's our take profit? Look at the nearest rejection from the running candle Since there are many rejections the left side, so we can put here we can put here we can put it at the support Our stop loss is on the resistance. Our take profit on the support
This is our take profit What if we put our take profit here? Based on this key level on this rejection Can we put our take profit here? Of course, we can put here But, we still we have long time and then maybe our stop loss will be touched This is our stop loss because if the take profit farther wider from the from our order So, this take profit cannot be reached by the market. Our transaction our order is a loss because it didn't reach our take profit and then it went back up. So this is our loss it's not a problem. This is the risk of trading. Nobody can get profit from trading everyday every time, but there's always loss The problem is, how we can be consistent in profit, how we can continue getting...
...profit and then we can also suppress our risk. We can reduce our risk so the total, the cumulative, of our orders still profit in the end This is our risk if our take profit is so far from our position I always recommend our students, don't take profit too wide or far from our position Look at the nearest support and resistance from the running If it's not too far from the running, maybe we can put this position Based on this correction, we can reach our profit but it's not too high Only 25.5 pips. It's enough to save our profit If we take higher profit from our position and then it can't be reached then it goes up again and we have lost, because this is a breakout our stop loss would be reached and then we lose We lose around 40.5 pips but it's okay. It's our choice We can choose this technique. We can take use the nearest rejection from our order And then we don't place the stop loss too far from our position also Always look at the key level. Key level with more rejections, we can put our key level We can put our stop-loss there. It's safer than we putting it too far Or maybe we have no principle to take it. This is a position when we take profit and...
...when we can apply our stop loss. If the price goes up or break out like this, this is breakout change the nearest to the running. I put here, near the rejection. This is also rejection And this is also rejection This is the last rejection Then, if the price goes up, cross, and then break out the level key level, the resistance Keep our mindset that the price will go up stronger If the price breakouts of many rejection at left side or key level then the bullish power is very strong Don't order the opposite because it's very dangerous this is the big It's a very big breakout It means the power of bullish is very strong, so follow the trend When do we order if the price breakouts? Wait until it's finished, until the candlestick is closed record and then we can order after the candlestick is closed No need to wait long, we order after the breakout This is our position, order buy there After we order buy, think more about our risk Where should we put our risk? This is buy, so the risk is on the support This was a resistance Since this resistance got breakout by bullish, the position changes The position of resistance becomes a support Remember, if the resistance got breakout then the position change to support When we order after the breakout, our position to put our stop loss is the same price with the support. So this is our stop loss This is our stop loss, 1886.74 This is our stop loss. Where's the take profit? Look at the resistance's neck. Since the price was very high and then pulled down the higher price becomes resistance. This becomes resistance
This is resistance position. We can place the stop loss at 1895.89 I'm sorry, not stop loss but take profit Not stop loss, but take profit because our order is buy This is take profit and then this is our stop loss, like this Same on any other cases. Our steps are like. First, watch the structure and trend 2. Find the key level, support or resistance, then look at the last candle Find the key level. And the last, find the trigger, the changing color
Then if the color changes, confirm it. The next candle should be the same color with the last color Just order after that, after the color changes and a confirmation... ...coming there. But there's still confirmation. Just wait and see until breakout or confirmation. I think this is very clear maybe you have any problem you have any... ...question, please ask me, and then we can discuss more about our case "The second case on the screen, the buy one" "If we break the resistance, we don't have to wait for second confirmation" "like a second or third candle, because the first one, the breakout, the second one is the confirmation" "when we enter" -Okay, the second case, for example, like this I have one case like this since the price goes up and then it breaks off the support. This is the support If they have breakout power of the support is big, we have we don't...
...need more confirmation. We just order after... breakout. The big breakout and then the left said that they have no key level they have no key level. Look at this candlestick if we slide... ...to the left, there's no key level so it's very safe, far from key level The next key level, the next resistance is on the top of the week on the top of the rejection. This is resistance
So, if the bullish price breakouts the support, sorry break out of resistance, the first resistance This was a resistance, but after breakout, it becomes support This resistance becomes support. After breakout the resistance we just entry buy after this candle This case is different from the other case, because other case... ...position of the top, the position of the key level or support or resistance they change color but this is not a changing color, this is our trigger Our trigger only break out from the support, and then we can order after the breakout This case is also different from the other case. Like this if the price goes up then at the top of this trend, the price changes color. It's a different case Look at the left side, try to stretch a horizontal line and then look at the left side if there any... ...key level or maybe any rejection. If it's very hard to find with H1, we can... ...change to H4. There are many rejection They have many rejection and then it changes. The left side has many rejection
So, the top of the price we can make it as... as the top of the price I will change it now. This becomes the highest price, the key level And then if the key level change color And then we have no more reason to order sell because this is only a first signal This is only first signal we need one confirmation. This case is different
Different from breakout, there are big power to break out the resistance Just order after the candle is closed If it really breakouts, we can order after this No need for a confirmation, but the other side, this position is different This goes up and then the color changes on the top is the change color it means this is It means this is the first signal that seller will come. But to make sure that position we need one confirmation And then we can order after the confirmation is coming Why only take small profit? We order sell here And then maybe we only have a little bit profit, 19.8 If this profit is not enough from our target, it's not a problem Where do we place stop loss? We can place it here because this is our level key level, this is the resistance, 1900.18
This is our stop loss. And then our TP, take profit, is here this is our take profit, 1895.89 This is our take profit, but this price doesn't touch our take profit So, our order is a loss, not a problem. It's normal. No trader can... ...read absolutely 100 percent true that is normally but the the most important thing is how to to press our loss, how to reduce our loss ,and then also we can... ...continue to make more profit, to get more our profit We can do it. We also correct, evaluate our position
also re-analyze the last market, the last position of the candlestick. That's what a good trader do Don't only think about our loss, analysis not all our analysis true but sometimes it also misses. No problem, it's normal I always remind you that the most important thing is how to reduce... ...loss, how to minimize our loss it's very important. And this is the key to be successful... ...of a trader. This is our loss and then if it goes up and breakout this is breakout from the resistance so we can after the breakout We can order after the breakout. If the market breakout. Real breakout is the body
It's very valid so we can order there maybe our loss will be covered by our position We can order buy here. It's like this If there's any problem, you can ask more, and then we can discuss later in details I think that's my answer. If you have problem, we can... ...discuss it. -"No, thank you". -You understand? -"I do" We can explain the steps to analyze, how we can put our entry, how we can put our stop loss and our TP, take profit Understand all of it? -"Yes, sir" -If you understand, don't forget to try to apply this Step by step in the demo account. And then make sure that every day you can continue... ... getting profit consistently. Make sure that every day if you have any transaction with loss and profit the total of the transactions must be profit in the end The end of our transaction always profit consistently so if you change to real account, it is very strong, it's very...
...good and make a consistent profit for the long time. Thank you sir. Please train and then we can... ....discuss our problem next time, and then we can discuss our material our lesson for next time and Then don't forget to always try to apply our lesson in demo account and then make... ...it better and better. Thank you very much for your attention and then see you later. Assalamualaikum wr. wb.