Best Scalping Strategy **Best Entry Point** — Transcript

Full transcript

1. 0:00So everybody here knows that I like to trade big ass candles.
2. 0:05So, in this video, I'm going to explain to you.
3. 0:07Why that is, and why you should be focusing on these candles as your
4. 0:12entries for the tightest possible.
5. 0:14Stop lost.
6. 0:15And the least amount of draw down for every single one of your trades.
7. 0:22Welcome back to the channel, everybody.
8. 0:23My name is already and this is the moving average.
9. 0:26I shall.
10. 0:26We discuss everything day trading.
11. 0:28Keep you profitable on a consistent basis.
12. 0:30So I'm assuming that you guys have seen a majority of the content that
13. 0:34I made.
14. 0:34On this channel, we look at rejections off of moving averages.
15. 0:38We look at rejections off of support and resistance levels and we look
16. 0:42at rejections off of trendlines.
17. 0:44If you can get any one of those rejections to line up with each other,
18. 0:48like a support and resistance level, as well as a trendline and a
19. 0:52moving average.
20. 0:53That is going to be your best bet for an entry.
21. 0:56You also know that my favorite way of trading is using a three-line
22. 1:00strike.
23. 1:00Say, for example, if the price is going down then, retrace his up a
24. 1:04bit and we get three, bullish candles followed by a big fat, rejection
25. 1:09candle, that's going to be my entry point.
26. 1:11So today's video I'm going to be looking at us 30 and what happened
27. 1:16last night and how I would have traded it had.
28. 1:19I not been on Daddy time.
29. 1:21Okay.
30. 1:21So look
31. 1:22At the chart right now, this is us30 on a 15-minute time frame.
32. 1:26You can see as the price was hitting these moving averages and
33. 1:30rejecting off of it.
34. 1:32It continue this downtrend.
35. 1:33We were in an extremely strong downtrend for over a week and recently,
36. 1:38we've been climbing back up.
37. 1:39Now, you guys know my trading strategy if we are above the 200.
38. 1:43Moving average were looking for long positions and for below the 200
39. 1:47we are looking for short positions.
40. 1:49Now this is always a risky part of it.
41. 1:51When the price does break above after a strong downtrend, you are
42. 1:56looking for a retest of that 200 before it really continues up.
43. 2:00And does a full-on trend, reversal your safest bet.
44. 2:04When trading big ass candles is these things that are rejecting off of
45. 2:09moving averages, you can see the difference between a normal size
46. 2:14candle and a big ass candle.
47. 2:16The big ass candles are really really powerful.
48. 2:19They are momentum-shifting moves, not
49. 2:22Only did you get a small three-line strike right here but this big
50. 2:26momentum pushdown breaking this previous low that it had just made is
51. 2:30significant in of itself and you can see what happen to the price.
52. 2:34After that big momentum of it, just started to Decay and go all the
53. 2:38way down.
54. 2:39What I want you guys to.
55. 2:40Really keep in mind though is to avoid these big ass candles.
56. 2:44These big candles are counter-trend traits when the price is going
57. 2:49this strong down towards you.
58. 2:51Do not take these as by opportunities.
59. 2:53You primarily want to focus on the big candles going in the direction
60. 2:59of the trend.
61. 3:00If you do however, really need to counter-trend trade, I want you guys
62. 3:05to draw a trend line on back current Trend once the price action has
63. 3:10broken that Trend and then you get a big ass candle, that is an okay
64. 3:16entry for scalping in between moving averages, using my scalping
65. 3:20strategy but what I'd really like
66. 3:22Focus on in this video is all of the chatter that happened in the
67. 3:27Discord group.
68. 3:28Last night, we have multiple Channel setup for indices for 4, x 4
69. 3:32crypto, and the industry Channel last night was going absolutely
70. 3:36crazy.
71. 3:36So I needed to make this video because of that chat.
72. 3:40As you can see here we have three moving averages up there all smooth.
73. 3:43Moving averages.
74. 3:44There are part of the free indicator that we created for this Channel.
75. 3:48And for our Discord group, it's the 21, the 50 and the 200.
76. 3:52Now you can clearly see this trend line was easily broken with these
77. 3:57huge momentum candles at that point, you're actually looking for the
78. 4:00price to respect any one of these moving averages and because that
79. 4:04momentum shift was so strong, it did not respect them, it just kept
80. 4:08breaking through them.
81. 4:10You really don't want to focus on getting into early because all the
82. 4:14moving averages are still going up.
83. 4:16You want to wait for these moving averages to start arcing once they
84. 4:20start barking.
85. 4:21That's when the
86. 4:22Momentum starts to lose and shift to the downside, but again, because
87. 4:27we are still in an uptrend meaning that we are above the 200.
88. 4:31Moving average.
89. 4:32You don't want to make your take profit lower than that, 200.
90. 4:36Moving average, even if its previous support and resistance levels.
91. 4:40So I kept seeing these big fat momentum candles to the downside, then
92. 4:44I started to see the moving averages begin to Arc.
93. 4:48I figured this was the last rejection that we would have on the 200.
94. 4:52And this is about the point where I started watching us-30 and seeing
95. 4:56what it was doing for me, that was 6:30 p.m.
96. 4:59as the price came back up.
97. 5:00I actually had an alert set right here to see what would happen if it
98. 5:04crossed the 50.
99. 5:05Again the reason I did this is because we didn't touch the 200 and I
100. 5:10was like I think we're going to try and test it again.
101. 5:13So sure enough, the price went up, my alert was hit and then I watch
102. 5:16this one candle before armed in 15 minutes and this is a perfect
103. 5:21example.
104. 5:22Full of a three-line strike, we are in a short-term downtrend.
105. 5:24We came up to trap some Traders and then got this big fat bearish,
106. 5:30engulfing candle, while the moving averages, are starting to slow
107. 5:34down, and I knew that it would come to this price right here.
108. 5:37So had you just waited for this three-line strike to form gun in and
109. 5:42then had your entry set at the close of that candle with a stop loss,
110. 5:46literally cents above the previous high, right?
111. 5:49They're targeting the 200.
112. 5:51Moving average.
113. 5:52In 15 minutes, you could have had a 52-point move on US, 30.
114. 5:57And depending on your lot size, that is a massive amount of money.
115. 6:01For example, on my broker contract sizes are 100.
116. 6:05So this would have been a $52 profit will trade on a 01 and on a point
117. 6:10107 $520.
118. 6:12And on a one lot trade, it would have been $5,200 in 15 minutes just
119. 6:19from waiting for a big ass candle.
120. 6:22Rejection off of a moving average.
121. 6:24This is one of the safer ways to bet against the current trend is
122. 6:28waiting for those moving averages to swoop.
123. 6:31Now, what I'd like to do is show you the rest of this indicator to
124. 6:34show you how it will actually help you identify these three lines
125. 6:38strikes and these big engulfing candles right.
126. 6:42Now, I have most of the settings turned off on this indicator.
127. 6:45Just showing you the three basic moving averages that I like to use
128. 6:48the 21, the 50 and the 200.
129. 6:50But when I go into the settings and turn on the three lines strike
130. 6:54indicator as well as the big ass candles in Decatur, you can now see
131. 6:59these little arrows above each, one of these candles with the simple
132. 7:03engulfing candle indication you just get a singular Arrow, meaning
133. 7:07that this candle is bigger and engulf the entire previous candle.
134. 7:11Now with a three-line strike, which is a more significant indication
135. 7:14of the move it waits for three concurrent candles and then an opposite
136. 7:19engulfing candle.
137. 7:20That's when you get a double arrow and it says
138. 7:223s bear, whether it's bearish or bullish.
139. 7:25So, at this point, you actually could have used this one, is an entry
140. 7:28because the moving averages were starting to slow down, I would have
141. 7:32been hesitant, however, because that stopped right at a moving
142. 7:36average, where is this one?
143. 7:37The moving averages, kept sloping down, we had just barely missed 200.
144. 7:42Moving average and I had a feeling that most people would have their
145. 7:45stop losses on a long position.
146. 7:47Just below that candle and sure enough, the market pushdown extremely
147. 7:52hard with these two, massive engulfing candles, a three-line strike
148. 7:57off of a moving average to test and get back down to that 200 hitting
149. 8:02everybody is way too tight stop-loss right here.
150. 8:05Now I know a few of you guys were actually targeting a previous level
151. 8:09of support and resistance, and I want to show you that really quickly.
152. 8:12If we take this out, to the hourly and actually draw our support and
153. 8:16resistance lines on here.
154. 8:17You could see, we had a rejection, hear a rejection here.
155. 8:20So these are
156. 8:22Is were very crucial cell.
157. 8:24Once we had broken that previous trended, the price started to come
158. 8:27down and this was a lot of people take profit level but that is why I
159. 8:31really like to keep my moving averages up on the screen to see exactly
160. 8:36where that price is rejecting.
161. 8:38Whether it's actually going to go to a level of support and resistance
162. 8:41or it's going to reject off of a moving average.
163. 8:45And you can see we are starting to break the trend.
164. 8:48Moving up towards this 200.
165. 8:50On the one hour chart and jumping back onto the 15.
166. 8:54The reason it didn't get back down to this level of previous support
167. 8:58is because it was boosted up by the 200.
168. 9:01Moving average.
169. 9:02This is why having the knowledge of support and resistance levels is
170. 9:05extremely important to get the direction that you want to enter in
171. 9:09that using the moving averages.
172. 9:11And these indicators for 3 Lines, strike or and engulfing candle, it's
173. 9:15going to help you scalp better.
174. 9:17It's going to help you get better entries, it's going to give you more
175. 9:21Consular.
176. 9:22To know that your entry was correct and keep your stop-loss tighter
177. 9:27than you normally would above previous highs.
178. 9:29When you're doing this right you can keep your stop loss at the end of
179. 9:34that candle.
180. 9:35So like I mentioned earlier, the indicator that I'm using is free.
181. 9:39It was created by somebody in our Discord group and we are offering it
182. 9:42to everybody for free.
183. 9:44The links for this indicator on tradingview are in the description.
184. 9:47No membership, no nothing.
185. 9:48Just take them, use them and be successful at trading.
186. 9:51I don't want your money.
187. 9:52You watching.
188. 9:53These videos is enough for me and if you would like a full breakdown
189. 9:57of how this indicator works, in the other things that come along with
190. 10:00it, check out this video right here and if you guys got some value out
191. 10:03of this video on you, like the way that I teach consider subscribing
192. 10:06to the channel by clicking this button right here.
193. 10:08Thanks so much for watching and we'll see you in the next video.
194. 10:11I'm going to do a wrap on the tonight was ladies night.
195. 10:15I would have stopped and swap.
196. 10:17My balls with the baby wipes in the van.
197. 10:18Hold your sorry, little life in my hand.
198. 10:21Watch me toss it in the sky and swing, right?
199. 10:23For the Stan battling is like trying to ride your bike in the sand.