How I Find My Trading Entries | Trading Course 003 — Transcript

Full transcript

1. 0:00All right, so today I'm going to be
2. 0:01teaching you how I find my entries on a
3. 0:03higher time frame. Pretty much my rules
4. 0:05that I use to get into trades and
5. 0:07overall my mindset behind it. So,
6. 0:10let's get into the video. Showing you
7. 0:12how I like to get my entries because a
8. 0:15lot of people would just get in right
9. 0:17now. But, there's some rules that I come
10. 0:19with, so let's get into it. First and
11. 0:22foremost, for one, like I said
12. 0:24yesterday, we do have our indication
13. 0:26showing us that price has made a move to
14. 0:30the downside creating a lower low. Now,
15. 0:33remember, it's our job to go on a
16. 0:36different time frame, so we're going
17. 0:37from the daily
18. 0:39to the 4-hour. And when we go to from
19. 0:41the daily to the 4-hour, what we're
20. 0:43looking for is price to return to that
21. 0:46bearish structure.
22. 0:48But, the only time we go from the daily
23. 0:50to the 4-hour is once we start to see
24. 0:52price is correcting. So, if price is on
25. 0:55a downtrend,
26. 0:57we would have a red candle.
27. 0:59And then the moment it starts to
28. 1:01building up,
29. 1:02it would be a blue candle.
30. 1:04And of course, your colors will always
31. 1:06be different, but
32. 1:08in my scenario, I made the rank red
33. 1:10candles for bearishness, blue candles
34. 1:12for bullish.
35. 1:15In this case, we will see this pushing
36. 1:17up on the daily time frame, and all
37. 1:19we're going to do is say, "Hey, price
38. 1:21looks like it's stopping at 4,113.
39. 1:26Let me see why is it pushing up?" We see
40. 1:29why it's pushing up. Price has hit a
41. 1:31bottom where buyers are sitting, and
42. 1:33buyers are currently pushing price up.
43. 1:36So, with that being said, if buyers are
44. 1:38pushing price up, that means price is on
45. 1:41a uptrend on the 4-hour time frame. So,
46. 1:45we still keep in mind that the daily
47. 1:47time frame just made a lower low.
48. 1:49So, that means the daily is bearish.
49. 1:53But, in order for the trend to continue
50. 1:56on the daily time frame,
51. 1:58the
52. 1:59every other time frame has to match the
53. 2:02daily.
54. 2:03And the 4-hour has to make a correction.
55. 2:06The 1-hour is going to make a
56. 2:08correction.
57. 2:10So,
58. 2:11with this being said,
59. 2:13all we're going to do is go to the daily
60. 2:16to the 4-hour. Once we go to the 4-hour,
61. 2:18we're going to analyze what's going on.
62. 2:21So, this is one of those scenarios where
63. 2:23it's going to be completely different
64. 2:25every single time.
65. 2:26A correction ending is always going to
66. 2:29be different every time, but there will
67. 2:31be signs of when and when not to be in
68. 2:34it or when to just stay out in general.
69. 2:37So, in this place
70. 2:39in this uh time frame, we see that price
71. 2:42was building up, building up, building
72. 2:43up, building up. And then
73. 2:46all of a sudden
74. 2:47it got a huge red drop.
75. 2:50Bearishness came in, sellers came into
76. 2:52the market and pushed price extremely
77. 2:54down at 9:00.
78. 2:56And pretty much 9:30 market open.
79. 2:59With that being said, from here I
80. 3:01personally can see where the low is at,
81. 3:04but for a beginner, to help you out, cuz
82. 3:07the low is right here,
83. 3:09I can obviously see price came down
84. 3:11here, used this as support, and then
85. 3:13bounced again.
86. 3:14And I can see that this was broken. But
87. 3:16for a beginner to see it more easily,
88. 3:19all you're going to do is go from the
89. 3:214-hour now
90. 3:22to the 1-hour.
91. 3:25Cuz the only reason you're doing this is
92. 3:27because you see something that looks
93. 3:29like it was really important and you
94. 3:31need more details. Like if we seen this
95. 3:34just on the 4-hour,
96. 3:36this could create a higher low and so
97. 3:38much more, which I'm going to explain.
98. 3:40But since you can only see so much,
99. 3:43going to a another smaller time frame
100. 3:46can definitely help give you more
101. 3:48details. Now, you see how now when we we
102. 3:50went to the 1-hour time frame,
103. 3:52everything started to give us highs and
104. 3:54lows more easily now.
105. 3:57So, now we can visually see
106. 4:00price was building up the whole time.
107. 4:03This one right here.
108. 4:06We can visually see this now.
109. 4:09Right? So, now since we can visually see
110. 4:11this,
111. 4:12we can then use this to our advantage
112. 4:15and be like, "Okay,
113. 4:17these are lows that were broken or this
114. 4:19low has finally been broken, so the
115. 4:211-hour is bearish."
116. 4:24So, that means if the 1-hour is bearish,
117. 4:27remember what I said yesterday
118. 4:30and the uh first video,
119. 4:32the daily
120. 4:35with the 4-hour.
121. 4:38The 4-hour
122. 4:39with the 1-hour.
123. 4:42The 1-hour
124. 4:45with the 15-minute.
125. 4:47Right?
126. 4:48So, with this being said,
127. 4:51all I did was go from the daily,
128. 4:54hey, the daily is bearish.
129. 4:56I went to the 4-hour.
130. 4:58Okay, the 4-hour is bullish, but it just
131. 5:00made a huge spike to the downside. Let
132. 5:03me grab some more information.
133. 5:05Okay,
134. 5:07click the 1-hour time frame.
135. 5:09I got more information. Now I can see
136. 5:11that it was on an uptrend.
137. 5:13It was obviously going up and then it
138. 5:15broke that structure.
139. 5:17So, that must means the 1-hour
140. 5:19is bearish.
141. 5:22When did it become bearish?
142. 5:27High,
143. 5:28low,
144. 5:29higher high,
145. 5:30higher low,
146. 5:32higher high,
147. 5:33higher low,
148. 5:34higher high,
149. 5:36boom, lower low.
150. 5:38So, if a lower low is made, what comes
151. 5:40next?
152. 5:43If LH equals LL
153. 5:47then
154. 5:50LL equals
155. 5:55You you answer that question. So, on the
156. 5:591-hour time frame, now we're going to
157. 6:01sit and wait for price to give us a
158. 6:04correction to make a lower high.
159. 6:08It could be big, it could be small, but
160. 6:10when it confirms that it made a lower
161. 6:12high and you start to see it go back
162. 6:14down, then this is helping you
163. 6:16understand that price on the 1-hour time
164. 6:18frame has confirmed the downtrend, cuz
165. 6:21this break is only our indication on the
166. 6:241-hour.
167. 6:25All we're doing when it comes to the
168. 6:27correction
169. 6:28is waiting for ICC again on the
170. 6:31correction time frame.
171. 6:33So, at this point, we just need to see a
172. 6:36lower high.
173. 6:38Once that lower high is made on the
174. 6:391-hour time frame, we can enter based
175. 6:41off of that, because that is going to
176. 6:44lead into the 4-hour time frame. So,
177. 6:47basically, what it's going to look like
178. 6:51and I can't wait till it does it so I
179. 6:52can show y'all a live example,
180. 6:55but what it's going to look like is
181. 6:58price on the 4-hour time frame is going
182. 7:00to have this red candle. The next one is
183. 7:02probably even going to have a rejection.
184. 7:04The next one's going to be coming up
185. 7:06with a blue,
186. 7:08and then we're going to have candles
187. 7:09coming back down, which creates a lower
188. 7:12high on the 4-hour as well.
189. 7:151-hour creates that lower high, it will
190. 7:18start forming on the 4-hour time time
191. 7:21frame as well.
192. 7:22So, right now, we'll look for that
193. 7:241-hour to make a lower high,
194. 7:27because it's going to show up on the
195. 7:304-hour time frame later on as a lower
196. 7:33high, but we're going to already be in
197. 7:35the position and be making money off
198. 7:38that lower high momentum. So, basically,
199. 7:41what that means is when price makes a
200. 7:43lower high, it hits a level of sellers
201. 7:46where then everything starts coming down
202. 7:48way harder than it should.
203. 7:50Right? And with that being said,
204. 7:53that will all equal up to the daily
205. 7:56creating that level for us, creating
206. 7:58that lower high again, and pushing down
207. 8:00again.
208. 8:01So,
209. 8:03that is the way that I like to enter my
210. 8:06trades.
211. 8:07Um
212. 8:08I'm pretty sure in the next couple of
213. 8:10days we could possibly get an entry.
214. 8:12Now, let me explain
215. 8:14why I wouldn't get into the trade now.
216. 8:17Let me explain this.
217. 8:19So, I am a person that I'm okay with
218. 8:22missing something if I'm wrong or right.
219. 8:24It depends on whatever the scenario is.
220. 8:26But, let's say it just sold off from
221. 8:29here. I'm okay with missing that because
222. 8:31the probability of that happening was a
223. 8:34little bit more slim than having two
224. 8:38confirmations. So, basically my
225. 8:40confirmation will be the high lower high
226. 8:43and the lower low. So, in this scenario,
227. 8:49we would have price get to the highest
228. 8:51point.
229. 8:53It broke structure, so that makes the
230. 8:55low lower. So, this low right here,
231. 8:59this one right here is lower than this
232. 9:01one.
233. 9:02So, that would be our lower low. Price
234. 9:04would then make the lower high.
235. 9:06And boom, those are two things that a
236. 9:08downtrend does. So, that means if price
237. 9:10made a lower high just now, it will most
238. 9:13likely come and make a lower low later
239. 9:15on, which then I would sell at that
240. 9:17point. Right? And I always put my stop
241. 9:20loss above the lower high that was
242. 9:22created, or if I feel like I need a
243. 9:25little bit room, just use another lower
244. 9:26high. But, always if I'm in a sell, put
245. 9:29my stop loss above a lower high.
246. 9:33With this being said,
247. 9:35since I get into this trade, I'm way
248. 9:37more comfortable selling this because of
249. 9:41the pattern and because of the rule.
250. 9:44Lower high, lower low, lower high, lower
251. 9:46low.
252. 9:47So, it's always going to be that in the
253. 9:49back of my head when it comes to
254. 9:51trading. So, whenever I get into a
255. 9:53trade, I'm thinking in my head, "Okay, I
256. 9:55just got in right after a lower high was
257. 9:58established. Now, it should be going
258. 10:01down to create the lower low."
259. 10:03That is more of a probability than
260. 10:05saying, "Hey,
261. 10:08let me sell here.
262. 10:12Let me sell here with no confirmation
263. 10:16of price actually saying it wants to go
264. 10:18down because I've seen plenty of times
265. 10:22where price would do something like this
266. 10:23on the 4-hour time frame or a higher
267. 10:25time frame
268. 10:26and it ends up doing this, stopping
269. 10:30here,
270. 10:31rejecting, and going up. Now, it doesn't
271. 10:35necessarily mean an uptrend. No, but
272. 10:37it's just saying that price doesn't want
273. 10:39to go this low yet. Now, consolidation
274. 10:42can be formed in the same way as well
275. 10:44because when price hits this level, it
276. 10:48creates a low, but it also already has a
277. 10:50high, too. So, when it creates the low,
278. 10:55price is going to try to go up from
279. 10:57that. So, if you ever notice, if price
280. 11:00cannot go down, it's going to look to go
281. 11:02up.
282. 11:03If it can't go up, it's going to look to
283. 11:05come back down.
284. 11:07Right? So, in this case, it is good to
285. 11:11some sometimes see
286. 11:13price push up and wait for some extra
287. 11:15confirmation because it could just end
288. 11:17up fighting in between here.
289. 11:20It could literally just start fighting
290. 11:21in between here of buyers and sellers.
291. 11:23But, since we wait
292. 11:25and we use this as like, "Okay, this is
293. 11:27our lowest point. This is our highest
294. 11:28point. Now, we just need to see a lower
295. 11:31low
296. 11:32and a lower high. In this case, we
297. 11:34already have the lower low, so boom,
298. 11:36check that off our list.
299. 11:38Once we check that off our list, we then
300. 11:40wait for our lower high to confirm the
301. 11:43downtrend. This one is to indicate us
302. 11:46that it can start a downtrend. That
303. 11:48correction is to confirm that it's on
304. 11:51that trend, and the continuation is to
305. 11:54also confirm that we're going in that
306. 11:56direction as well.
307. 11:57So, that is a higher probability than
308. 12:00just saying, "Hey, I'm going to sell
309. 12:01right here." Because once again, that
310. 12:044-hour time frame can definitely make a
311. 12:06higher low
312. 12:10and continue to go higher. Because on
313. 12:11the 4-hour,
314. 12:13all all the 4-hour is presenting to us
315. 12:15is this, this right here.
316. 12:19And this possibility right here.
317. 12:22If you want to come here, I'm pretty
318. 12:24sure it's going to say
319. 12:27it's going to call this a It's going to
320. 12:29try to call this a low, but I personally
321. 12:31don't think on the 4-hour time frame
322. 12:33that this is. We can visually see it, so
323. 12:35it might call it as one. Let's see here.
324. 12:39Let's change this to five.
325. 12:42Let's change this to five. Change this
326. 12:44to five. Change this to five. It might
327. 12:46call it. Oh, it still doesn't call it,
328. 12:48but
329. 12:50this is our lowest point. So, if price
330. 12:52was to make a low here, this would be a
331. 12:54higher low. And with that being said, a
332. 12:57higher low could possibly cause a higher
333. 13:00high. So, you always got to be careful
334. 13:02when selling with no extra confirmation.
335. 13:05Now, when we do need to sell is when
336. 13:07price makes that lower high. Cuz now, we
337. 13:10would say, "Hey, we have a low, and now
338. 13:12we have a lower high." So, if price just
339. 13:15made a lower high,
340. 13:16it's going to look to make that lower
341. 13:18low.
342. 13:20So, I hope this all helped you with your
343. 13:22entry. Once again, this is just a little
344. 13:24bit of the criteria because we're not in
345. 13:28getting into an entry. I want to be able
346. 13:30to present an entry to you guys. So,
347. 13:33we're going to keep following this to
348. 13:35make sure
349. 13:37um for the next couple of days I can
350. 13:38provide that for you. I'm not going to
351. 13:40be like, "Oh, I'm going to be able to
352. 13:42make that video tomorrow." So, if there
353. 13:44isn't an entry tomorrow or anytime soon,
354. 13:48I'll just continue to explain more about
355. 13:51what I like to look for, but I'm super
356. 13:54ready for me to present how I enter in
357. 13:57like live trade form.
358. 14:00Um right now, like I said before, I
359. 14:02personally wouldn't get into a trade
360. 14:04like this due to the fact that it can
361. 14:07create a higher low. Once again, I am
362. 14:10not a trader that thinks in a sense of
363. 14:12like, "But what if it does sell down?" I
364. 14:14like to think in more of a higher
365. 14:16probability
366. 14:17um for my past experiences when it came
367. 14:20to trading. So, something like this, uh
368. 14:23especially with a a huge sell down, uh
369. 14:26price normally corrects them and tries
370. 14:29to, you know, balance back the market.
371. 14:31So, I prefer to have that lower high to
372. 14:34lean on. So, that way I really know it's
373. 14:37not trying to go back up cuz once again,
374. 14:39it can just make a higher higher low
375. 14:42here and then continue to go higher.
376. 14:45But,
377. 14:46I would also find all that information
378. 14:48on the 1-hour time frame and I'm not a
379. 14:50big person on rejections.
380. 14:53But, if we start to look at how price is
381. 14:55moving, we have big candle,
382. 14:58uh normal candle, normal candle, and
383. 15:01then it starts to slow down, especially
384. 15:03with it being already what, 2:00? It is
385. 15:07currently 2:00, so we have two more
386. 15:09hours left in the market. It just
387. 15:11doesn't make sense to enter this trade
388. 15:13at all. It's okay to wait for London
389. 15:16session to bring its volume, do what it
390. 15:18has to do, and normally during London
391. 15:20session, which is 3:00 a.m. in the
392. 15:23morning uh EST time. Normally those
393. 15:26sessions are doing the opposite of what
394. 15:29the trend is normally to wipe out people
395. 15:32that are trading during those times, the
396. 15:34money that is trading. And once again,
397. 15:36those are low volume times because we're
398. 15:39trading gold USD.
399. 15:42Right? We're trading gold USD, not GP
400. 15:45not GBP.
401. 15:48Yeah, I said that right. But we're not
402. 15:49trading the Great Britain and Pound
403. 15:51versus gold. We're trading United States
404. 15:54and gold, the US dollar and gold.
405. 15:56So it's a lot different
406. 15:59because our markets are not open at 3:00
407. 16:02a.m.
408. 16:03Right? You have the pre-market, but that
409. 16:06opens at 4:00 and the volume there is
410. 16:09not as much as the New York Stock
411. 16:12Exchange volume.
412. 16:14So it's always good to trade during our
413. 16:16volume times because
414. 16:19that's when the most money is here. But
415. 16:21once again, the market ends in like an
416. 16:23hour and 50 minutes. So it doesn't
417. 16:25really make sense to take that trade
418. 16:27right now for a sell.
419. 16:29We can obviously visually see that it
420. 16:32looks exhausted. I'll explain more of
421. 16:34that later on. I don't really like to
422. 16:37just go based off what I what it looks
423. 16:39like. I got to go based off what it's
424. 16:41showing. The candles and the selling
425. 16:43pressure has gotten a little bit weaker
426. 16:45based off the candle sizes.
427. 16:48And I can visually Excuse me. I can
428. 16:50visually see that.
429. 16:52And since I can visually see that, I'm
430. 16:54going to go with what I see first and
431. 16:56not what I'm thinking in my head. So in
432. 16:59my head I would as a beginner I would
433. 17:01probably like, "Oh, I can sell this cuz
434. 17:02it's just going to keep selling." But
435. 17:04right now I can visually see that keeps
436. 17:06rejecting in this area. The candles are
437. 17:09getting smaller.
438. 17:11So let me just wait. It's okay to wait.
439. 17:14Like it's okay to wait, especially if
440. 17:17you're a swing trader or someone trading
441. 17:19the higher time frame. There's not going
442. 17:21to be
443. 17:22this this crazy candle like this, right?
444. 17:25There's not going to be
445. 17:27on the daily time frame where it's just
446. 17:29going completely ballistic and you can't
447. 17:31catch it.
448. 17:32Trust me, you can catch it. You You
449. 17:34don't even have to catch it. It's going
450. 17:35to come to you. All these trades will
451. 17:37come to you. As we get further and
452. 17:39further down this course, you're going
453. 17:40to see that all these trades will
454. 17:42literally be in front of your face.
455. 17:44So, with that being said, all you would
456. 17:47do from here
457. 17:48is go back from the You would go from
458. 17:50the daily, identify as a downtrend. Once
459. 17:53you identify as it a downtrend, you go
460. 17:56and find your correction time frame. The
461. 17:58correction time frame looks suspicious
462. 18:00to us cuz we seen price sell off pretty
463. 18:03hard. So, that means it must have broken
464. 18:06something. Okay, let me go grab some
465. 18:08more details. We go grab details on the
466. 18:111-hour time frame. We mark up that low,
467. 18:14and now all we're doing is waiting for a
468. 18:16correction. Now, you could use this one
469. 18:18or you could use this one.
470. 18:20I will always prefer the one that it
471. 18:22recently just broken because that one is
472. 18:25fresh and new. So, in this case, if we
473. 18:28was to see it here and this wasn't a
474. 18:30low,
475. 18:31then we could use this as the
476. 18:32indication. But, since
477. 18:35price is here and it just broke this
478. 18:38level of buyers, so it just broke buyers
479. 18:41that was pushing up here,
480. 18:44then we're going to use this as our
481. 18:46level. So, then we're going to come
482. 18:48here. We're going to mark up right here.
483. 18:51We're going to mark up on the body
484. 18:53close.
485. 18:55And we can also mark up on the wick
486. 18:58area.
487. 18:59So, me personally, I don't I'm not too
488. 19:02crazy about how big I draw my boxes. It
489. 19:04really doesn't matter to me as long as
490. 19:06price is showing the the the market
491. 19:08structure. That's all that matters. So,
492. 19:11right now we would possibly get a low
493. 19:14lower low.
494. 19:15This is our last low. This is our lower
495. 19:17low now.
496. 19:19We'll wait for some type of correction
497. 19:21to make a lower high. And once we start
498. 19:23seeing it go back down, we can take our
499. 19:25position and use that lower high that
500. 19:27was being made. So, in this case we
501. 19:30would do
502. 19:34we'd do something like this.
503. 19:37Boom.
504. 19:38Boom. Boom.
505. 19:39Boom.
506. 19:44We'd do something almost similar to
507. 19:45this. Let's go ahead and move this down.
508. 19:49Move this here.
509. 19:52Move this here and move this
510. 19:55here.
511. 19:58Let's put this like right around here.
512. 20:01Trying to get it so I can explain to you
513. 20:02guys perfectly.
514. 20:12All right.
515. 20:16The candles are a little wonky, but this
516. 20:17will be something that we're looking
517. 20:19for. We'll look for the candles to start
518. 20:21heading up. Once it heads up, we'll be
519. 20:24So, like like right around here.
520. 20:27The candle is a little bit wonky just
521. 20:29because the ones I was using, but
522. 20:33let's see if we can change that.
523. 20:37Okay, let's use this one. Right? So,
524. 20:39we'll look for price to start heading
525. 20:41back up. Once it heads back up, as soon
526. 20:43as it starts making that lower high,
527. 20:45we'll look for it to press back down and
528. 20:47then sell from there. So, let me just
529. 20:50visually show you.
530. 20:51Like this. So, we'll look for this.
531. 20:54A correction, any movement back under
532. 20:56here we can then sell because now we
533. 20:58have two lower highs and we can use this
534. 21:02as our stop loss. Or if you want to give
535. 21:04it some room, you can do that, but you
536. 21:07can use this for some stop loss, give a
537. 21:08little bit room, and then aim for that
538. 21:11daily time frame low, which is pretty
539. 21:14much down here, and then you will look
540. 21:16for your target
541. 21:18to not only just be your like it's not
542. 21:21going to be just your end target because
543. 21:22remember the price is on a trend. So, if
544. 21:24price just made a low
545. 21:28right on the daily time frame. If price
546. 21:30just made a low
547. 21:31we caught the lower high
548. 21:34what happens next?
549. 21:36If lower high equals lower low, then
550. 21:39lower low equals lower high.
551. 21:44So, with that being said, thank you
552. 21:46guys. This is part one of the entry
553. 21:48criteria.