SETUP OF THE DAY... TRADING THE WICK — Transcript

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1. 0:00hello everybody I hope that you are good
2. 0:02the new week has started and yesterday I
3. 0:06made this projection okay this was
4. 0:07posted on Twitter in the Sunday update
5. 0:10and I was expecting at the start of the
6. 0:12week on Monday a retrace towards the
7. 0:1550ma in the four hour time frame okay
8. 0:17what I was expecting was you know this
9. 0:20imagine this is the continuation of the
10. 0:2250ma I was expecting a retest a support
11. 0:25and then a bounce then some kind of
12. 0:27sideways on Tuesday like this
13. 0:29and on Wednesday I Spike hope to hit all
14. 0:33these liquidations okay then a rejection
15. 0:36this is an imbalance okay and then fill
16. 0:39this imbalance before the weekend as you
17. 0:42can see that you know we've already
18. 0:44started with the wrong foot because you
19. 0:46can see that Bitcoin one Bitcoin that
20. 0:48retrace but it went below the 50ma
21. 0:52what does this mean
22. 0:54okay this means that what I put on
23. 0:55Twitter the validation for this
24. 0:58projection is that the EMA comes like
25. 1:01this and then Bitcoin hits it again as
26. 1:04resistance and then yes maybe see a
27. 1:07small reaction then price might come
28. 1:09back up okay some kind of sideways below
29. 1:13resistance
30. 1:14towards the 50 of this week okay so
31. 1:18that's what I scenario that might be
32. 1:20happening now in the other hand if you
33. 1:22go to the one hour time frame we can see
34. 1:25the
35. 1:26something might be developing here okay
36. 1:29let me remove this for you so it's not
37. 1:30confusing okay what about
38. 1:33let me remove these two
39. 1:36okay
40. 1:37we've had a dump in the Asian session
41. 1:39you can see here okay and well this this
42. 1:43candle was a vile that was like a one
43. 1:46thousand dollar Scandal that's that's
44. 1:48crazy and then we had a tiny bit of
45. 1:50consolidation another dump and it left
46. 1:52this long week behind so we're expecting
47. 1:54this week to get filled at some point
48. 1:57okay let me Mark it here
49. 1:59and that's the 50 of the week okay and
50. 2:02now the European season is holding
51. 2:05it basically because it's a bank holiday
52. 2:08in most European countries it's a labor
53. 2:10day okay so the banks are closed the
54. 2:13institutional Traders you know half the
55. 2:15day off so really there is not much
56. 2:18happening in the European session
57. 2:20but this brings me to the idea what
58. 2:23about if we see something like this
59. 2:25within the New York session okay
60. 2:27at right at the start of the New Year
61. 2:29session I would like to see a sharp Doom
62. 2:31okay that would be a stop hunt in my
63. 2:32opinion to fill this week the 50 at the
64. 2:35list of the week okay but I could go to
65. 2:36the 100 or even shoot the lose let's
66. 2:39draw like this for now and then
67. 2:41a retrace of this imbalance I mean why
68. 2:45not
69. 2:46we could say this let me see what is the
70. 2:4850 main one out I mean the most likely
71. 2:51thing is that if this happens and we see
72. 2:53a pump that this EMA in the 100 time
73. 2:56frame accessory system so you know that
74. 2:58will be a safer take profits in my
75. 2:59opinion but that would be an idea I I
76. 3:03just I I don't think it's a good place
77. 3:05to Short
78. 3:06okay neither too long we are now in no
79. 3:09man's land in this zone now this is my
80. 3:12plan for today okay what I'm expecting
81. 3:13right at the start of the New York City
82. 3:15units are doom to fill this week okay
83. 3:17now at this point we could see price
84. 3:20continuing going lower or what I'm going
85. 3:23to be paying attention is in the 15
86. 3:25minutes time frame five minutes time
87. 3:26frame lower time frame if we see a
88. 3:28bounce a quick bounce I'm gonna see if
89. 3:30that bounce left any any imbalance
90. 3:33behind for example like weak let me go
91. 3:35to the five minutes time frame because I
92. 3:37don't want to see something like this
93. 3:38you see this long week here I don't want
94. 3:41to see this if I see this but on a
95. 3:43bounce I'm not gonna be long in this
96. 3:45because I know this a week is going to
97. 3:47get retraced okay
98. 3:49let me go to the one hour time frame so
99. 3:51at this point here if I see a bounce in
100. 3:54lower time frame then without any
101. 3:57violence behind I'm gonna open along and
102. 3:59I'm going to close it in the one hour
103. 4:0150ma that's the plan I have today then
104. 4:05the stop loss is going to be quite tight
105. 4:07okay it's going to be probably around
106. 4:09this one here
107. 4:10around this one here so that's what I
108. 4:13have in mind for today let me tell you
109. 4:15this guys when we have very big
110. 4:18important data or news announcements
111. 4:21coming in the next following days
112. 4:23I would say especially fomc you know
113. 4:26with the fat the fat meeting and the CPI
114. 4:29data or earnings reports you know very
115. 4:32important and heavy news that the market
116. 4:35can react to okay then you should in
117. 4:37principle expect that time to be a very
118. 4:40difficult time to trade
119. 4:42so when we are in those type in those
120. 4:44weeks
121. 4:46that we know are going to have big
122. 4:48important news
123. 4:49then I think we should be more selective
124. 4:52with our trades because they're gonna
125. 4:54get more complex
126. 4:56okay saying that you have to have a more
127. 4:59tight risk management in my opinion
128. 5:03that's why for example I'm planning just
129. 5:04to take this day but I'm you know not
130. 5:07100 confident so I'm gonna have in my
131. 5:08stop-loss here quite tight
132. 5:10okay
133. 5:12if this gets triggered I'm not losing
134. 5:13much
135. 5:15you can see 50 sorry 0 to 50 zero to
136. 5:19five that's nothing zero to five percent
137. 5:21is nothing
138. 5:22if I win
139. 5:25I'm making two and a half percent okay
140. 5:28this is what I mean you have to be more
141. 5:29selective for your trades
142. 5:31there might be days where we don't trade
143. 5:34that's okay you don't have to feel bad
144. 5:36about it because you're gonna have other
145. 5:38days
146. 5:39that you're gonna be able to make that
147. 5:41profit okay that's for example what we
148. 5:43don't trade at the weekend
149. 5:45because we know that the weekend there
150. 5:47is not much volatility there is not much
151. 5:48liquidity look this weekend look what
152. 5:50happened what is this
153. 5:52this was you know right before the
154. 5:54monthly close and the weekly closed
155. 5:56yesterday but look at this from Saturday
156. 5:57here
157. 5:59that we can change because it was
158. 6:01hilarious
159. 6:02this is the weekend range okay
160. 6:04what is this
161. 6:06do you want to trade this really
162. 6:09or do you prefer to trade this
163. 6:11okay that's what you have to try to
164. 6:13understand so yes that's look it even
165. 6:16seems that maybe New York well New York
166. 6:17is opening in in 45 minutes
167. 6:21so let's see how it goes
168. 6:23this is today's plan my player might not
169. 6:26people might not play out
170. 6:28either way it's not Financial advice
171. 6:30keep an eye on the five minutes time
172. 6:33frame okay
173. 6:34if we come here
174. 6:37like if we come down here and then we
175. 6:40have you know a boundary here you don't
176. 6:42want to see a way like this
177. 6:44because this week is telling me I can't
178. 6:46belong here price is going to come back
179. 6:48to the zone so like if we come here
180. 6:51and we see a bounce but it's more a
181. 6:54bounce like this style okay then yes you
182. 6:57can long
183. 6:58but if we see a week
184. 7:00of course price can continue going lower
185. 7:03okay so that's pretty much everything I
186. 7:05want to say guys I'm gonna also prepare
187. 7:07a video talking about the Bitcoin
188. 7:09dominance because you know I saw in
189. 7:12Twitter everybody calling foreign
190. 7:29guys for for watching
191. 7:32and I'll see you soon