Dumb Money Concepts - Using Multiple Timeframes — Transcript

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1. 0:00okay so in the last lesson I was
2. 0:01literally just using the same chart
3. 0:02we're going to continue on this the next
4. 0:03lesson here is using multiple time
5. 0:06frames the last lesson we were literally
6. 0:07just talking about using multiple time
7. 0:09frames and I was breaking down how you
8. 0:10would progress essentially what you're
9. 0:13going to be doing is you want to draw
10. 0:15out the levels on the major time frames
11. 0:18you can make money using only the 15 or
12. 0:22the five or the 1 hour or the 4 Hour it
13. 0:23doesn't matter uh but when you start
14. 0:25combining multiple levels that's when
15. 0:26the strategy gets really really powerful
16. 0:29um so you can see potentially where
17. 0:33levels might line up so that's why I've
18. 0:34got multiple charts on on here I know
19. 0:36you can't see I have a 2-hour here I
20. 0:37like using the 2our you can't see the
21. 0:382our it's behind my head uh but if I
22. 0:41draw say a level on the 4H hour here
23. 0:44right that's going to line up with
24. 0:46something on the 1 hour sometimes right
25. 0:49not today right but here you know you
26. 0:51can see that so a lot of levels are
27. 0:53going to line up and what you really
28. 0:54want to do is right I've drawn a
29. 0:56untested level on the 4 Hour there and
30. 0:59you can see how that fit 15 minute went
31. 1:00to it right and when you start your day
32. 1:02you're going to be looking higher time
33. 1:04frames I want you to look at the 4 Hour
34. 1:05I want you to look at the 1 hour see
35. 1:07look at this there's a level here on the
36. 1:081 hour right you can't see that on the 4
37. 1:11Hour here I'm jumping back and forth
38. 1:12from charts 4 Hour on the left 1 hour in
39. 1:15the middle here you draw that and you
40. 1:17can see where the 15minute hit right so
41. 1:20you need to be looking at every single
42. 1:22level for this to really start making
43. 1:24sense so when I see I'm I'm going to
44. 1:27just break down kind of what happened
45. 1:29sort of today right
46. 1:30is I had a long first of all right when
47. 1:34I first started the day I I longed the
48. 1:36very open and we longed it up to the top
49. 1:38why the trend was up we were regaining
50. 1:40this Zone here right regaining this Zone
51. 1:43here and we were just wicking out and I
52. 1:45figured we would be T targeting that top
53. 1:47so this was the trade that was the open
54. 1:49trade right basically took a little Wick
55. 1:51down somewhere in that range right and I
56. 1:54used that level there of course right
57. 1:56knowing that that's probably we're going
58. 1:57to buy up and Target there okay now
59. 2:00the next thing I did was I seen these
60. 2:03levels on the higher time frame so
61. 2:05that's probably an exit for us right cuz
62. 2:08you can see how those are untested
63. 2:10levels of significance they actually
64. 2:11they were tested but the next level up
65. 2:13is a bit higher and it didn't actually
66. 2:15hit it so then what I wanted to do is
67. 2:17after I saw some closes for the 1 hour
68. 2:21and the 4 Hour so that Clos is right
69. 2:24about here right 15 30 minutes in rather
70. 2:27and you can see the 4H hour
71. 2:30doesn't show Too Much significance it's
72. 2:32a spinning to a little bit uncertainty I
73. 2:33need to delete some of these
74. 2:36lines so with we have uncertainty on the
75. 2:384our maybe we'll drop down to the two
76. 2:40and the one right so the two I'm going
77. 2:43to put the two on the top here so you
78. 2:45can see it so the two actually
79. 2:47showed a failure to make that new high
80. 2:50there right so I actually ended up
81. 2:51taking a short and I'll be honest with
82. 2:52you I took a loss on this short even
83. 2:54though it played out okay because I did
84. 2:56end up closing it so again why did I
85. 2:59take a loss well because my area I
86. 3:02didn't want it to go above was here and
87. 3:03when I see that that close up there
88. 3:05that's really bullish right which means
89. 3:07I
90. 3:08thought the next level up is going to be
91. 3:11targeted which was this one which they
92. 3:12targeted later right and I don't know
93. 3:16for sure that they're going to reject
94. 3:17off that level so if I was already
95. 3:19short off of here
96. 3:23right if I already shorted off of there
97. 3:25and my stop is somewhere in here and we
98. 3:27closed in that area well I'm just going
99. 3:30to exit for a small loss I think I took
100. 3:32a few hundred loss
101. 3:34okay instead of letting it go double the
102. 3:37distance what I can do is what I would I
103. 3:40would wait to see if I can re-enter now
104. 3:42unfortunately in this scenario it just
105. 3:45went right to where I wanted to Target
106. 3:47anyways right which was you know this
107. 3:50level on the 1 hour so you're drawing
108. 3:52all these levels on the 1 2
109. 3:5545 and then you're watching the
110. 3:57progression of the trade on the lower
111. 3:59time frame
112. 4:00watching to see how it's reacting based
113. 4:02off of those levels that you're looking
114. 4:04for okay see now that we've got these
115. 4:08closes on the 1
116. 4:10hour you can see okay we've got the 1
117. 4:14hour closing really strong here that
118. 4:16we've retested that area and if you
119. 4:19weren't watching the 1 hour this would
120. 4:21look pretty bad right uh of a close
121. 4:24right because you're re-entered this
122. 4:25zone so you probably think we'd be
123. 4:27coming back down here but the re reality
124. 4:30is you've got this massive massive close
125. 4:34Candle on the 1
126. 4:35hour that tells you for sure you're
127. 4:38probably not going really really deep
128. 4:40maybe maybe what You' do is you'd place
129. 4:42an order down here too right a little
130. 4:44bit deeper so maybe you'd place an order
131. 4:46there you'd place an or so this would be
132. 4:48your whole Hunter zone right is from
133. 4:51that 1 hour all the way to the top there
134. 4:54so you can see this level on the 1 hour
135. 4:57you can see this level on the 4 Hour you
136. 4:59can see this level on the 1 hour and
137. 5:01that would be your whole Zone and you
138. 5:02wouldn't get every single one filled and
139. 5:04this is why I say you can scale into
140. 5:05your trades and then from there you're
141. 5:07going to be targeting those new highs
142. 5:09right so wherever you get
143. 5:11entered is good if you get entered
144. 5:13really really deep here well maybe you
145. 5:15don't need to Target as high maybe you
146. 5:16only need to Target there and still make
147. 5:18profit but if you hit it here and then
148. 5:19it explodes just as good you're still
149. 5:22going to get just as many Pips it
150. 5:23doesn't matter how deep it goes cuz
151. 5:24you're going to get just as many
152. 5:26Pips right that's how you use multiple
153. 5:29time frames
154. 5:30in order to get a better Confluence of
155. 5:32how the trade's going to pan out