Dumb Money Concepts - Major Candles — Transcript

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1. 0:00okay so you might have been seeing how
2. 0:01I'm using multiple different time frames
3. 0:02in the previous lesson now sometimes I
4. 0:05prioritize the 4 Hour sometimes I
5. 0:06prioritize the 1 hour sometimes every
6. 0:08hours a 2 hour and things like this
7. 0:09right it's all about what time they
8. 0:11close at okay this lesson is super super
9. 0:14dumb all right uh and we're going to get
10. 0:15through it in 60 seconds okay let's look
11. 0:17the reality is the more recent the
12. 0:19candle close the more significant it is
13. 0:21okay so this is literally all I'm going
14. 0:23to tell you is the 4 Hour is 4 hours
15. 0:25long of course so 3 hours into it right
16. 0:28at 6 6:30 a.m. you have only 30 minutes
17. 0:31left of that 4-Hour close right this is
18. 0:33the stock open for me 30 minutes until
19. 0:35that 4-Hour close so that 4-Hour candle
20. 0:37is not very useful okay the 1 hour is
21. 0:40more useful the 2 hour is more useful
22. 0:41because they're more recent obviously
23. 0:44the higher time frames are more
24. 0:45significant so come 700 a.m. the most
25. 0:48significant one is the 4H hour the least
26. 0:51significant is the 1 hour and the middle
27. 0:53is the two okay you always want to use
28. 0:55simple as this you always want to use
29. 0:57the most recent closes and the biggest
30. 1:00candles okay so if the if it's say 8:00
31. 1:03a.m. here now we now have only 1 hour of
32. 1:06duration in the 4 Hour we have a new
33. 1:08recent 1H hour close and the 2 hour is
34. 1:11halfway done already right so the
35. 1:13percentage amount of time that each of
36. 1:15these have been open is 50% for the 2H
37. 1:17hour a brand new one for the 1 hour and
38. 1:2025% for the 4 Hour so the 4 Hour is
39. 1:22still really really strong and the 1
40. 1:24hour is still really strong so right at
41. 1:258:00 a.m. I don't put a whole lot of
42. 1:26significance on the 2hour anymore now
43. 1:28come 9:00 a.m. right that's lunch time
44. 1:30for for New York the 2 hour is the most
45. 1:32significant because it's brand new and
46. 1:34it's large now the 4 Hour is halfway
47. 1:36through and the 1 hour once again every
48. 1:38single hour is brand new but it's quite
49. 1:40it's quite weak compared to the other
50. 1:42candles that's the entire lesson that's
51. 1:43it