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Trading Course Day 7: How to Mark Up Charts — Transcript

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0:00All
0:00right, guys. So, today we're going to
0:02talk about marking up your charts. I
0:04normally use the 1 hour and 4 hour time
0:06frame, but I'm going to show you exactly
0:08how my thought process is once I go into
0:11the charts and overall how you can
0:13implement the same way that I mark up my
0:15charts. So, with that being said, we're
0:19going to
0:22first because I've recorded this video
0:25once and I'm not I'm not letting it
0:28screw me over this time. So, with this
0:31being said, normally I look at the 1
0:33hour time frame. So, whenever I'm
0:34looking at the one hour time frame, the
0:36first thing I try to notice is where is
0:38current price? And then from current
0:40price, where are my highest highs? Where
0:43are my closest highs and lows from
0:45current price? So,
0:48first we're going to point out this one.
0:50So, this is our current high. So, right
0:52now, we know this is a high. And I can
0:55already see it's a higher high. So, I'm
0:56going just go ahead and mark higher
0:58high. And from this higher high,
1:00normally I would either go back down
1:02from where it started because this is
1:04that level of support that we need. That
1:06level of support is where all this
1:08bullish momentum came in from. So, I
1:10definitely want to know where that
1:11bullish momentum is going to come from
1:13because let's say if we look for sales
1:15later on, this will be that first thing
1:17that we'll look for, especially for a
1:19target because this is where that
1:20bullish momentum came from in the first
1:22place. And you can see how um I have my
1:24sessions on. And you can see how London
1:27session plays a big role in trading uh
1:30GU, especially when you trade it in
1:32session, you can see that there's a lot
1:34of momentum and a lot of movement. So,
1:36keep that noted for later on. So with
1:39this being said from this uh low so now
1:42we have this low this higher low
1:45actually we have this higher low and the
1:47reason why I say that is because you can
1:49see here was a high and then from that
1:51high this was our previous low. So our
1:53previous level was support but what is
1:55very important now is that we have our
1:57higher high and our higher low. So we
1:59can we can confirm that this is an
2:02uptrend and from here we need to focus
2:04on what happens next. So after the
2:06higher high is created, we can see that
2:08price ends up selling down and creating
2:10this level of support. This level of
2:12support is still a higher low. So this
2:16higher low is higher than the previous
2:18one. And this would tell us that price
2:21is still in this downtrend. And from
2:23this level, since we have current price,
2:25not in it hasn't broken anything in
2:27between here. So what I would normally
2:29do is mark these up normally with my
2:31yellow boxes.
2:33Boom. And now I would wait for price to
2:37break out either my higher low level or
2:39my higher high level because remember
2:42there are sellers sitting here and then
2:44there's buyers sitting here. And with
2:46that being said, we would look for which
2:49one is going to take most control of the
2:51markets. We know that if price breaks
2:53under here, then that means there are no
2:55buyers here. And if price breaks above
2:57here, then there is no sellers here.
2:59Right? So as we continue
3:03we see that volume kicks in for London
3:04session. So now we have a low. So this
3:08London session is the indication.
3:10Normally when the indication happens
3:12during session that session is going to
3:14push down for that day and then the
3:15correction is going to come later on in
3:17the day. Sometimes you can catch an
3:19indication and correction on the same
3:21day. Um but if it doesn't happen, don't
3:24be stressed out the next day or even out
3:26of session. it'll start to make that
3:28push back up, which is super cool. Um,
3:31especially like especially on days like
3:33Mondays and Tuesdays and even Fridays,
3:36price makes that indication and then
3:37coming into the following day, it'll
3:39make the whole move that it wants to
3:41make or probably two days in advance,
3:42it'll make that final move. But with
3:44this being said, price ends up looking
3:46for a new level of support. And this
3:48level of support,
3:53bro,
3:55the cops couldn't be any louder. But
3:57this level of support is created. And
4:00since this level is support created, we
4:02can see that buyers are sitting at this
4:03level. And since buyers are sitting at
4:05this level, this lets us know that if
4:07price falls under this level, this lets
4:09us know that there are no buyers sitting
4:11at this level anymore holding price up.
4:13But for the time being since price is
4:15still above it, price still has the
4:18potential to buy up. And then we have
4:20this lower high as well. So I forgot to
4:23mention this. This is now our lower high
4:24because it is lower than the previous
4:26one. So as we see here lower than the
4:29previous high and then we have that
4:31fall. So this will make this a lower
4:34low.
4:36So here
4:38lower low. So lower high lower low. So,
4:41this determines now that price has
4:43switched from an uptrend to a downtrend.
4:45And this is what we overall want to look
4:48for. We want to look for these these
4:50swing highs because they're overall
4:51going to tell us what trend we're on.
4:53And since they're following off the
4:55higher time frame, so since we're
4:56trading 1 hour, 4 hour, sometimes daily.
5:00These are normally going to hold way
5:01stronger than trading off the 5 minute,
5:0315 minute for your structure. For your
5:06entry, 5 minute, 15 minutes is good. But
5:08for the overall structure, you want to
5:09use like 1 hour, 4 hour or daily time
5:11frame. So here price is still above this
5:14level. We look for a correction back up
5:16to here, right? But since price has fell
5:19short, that means that this is a good
5:22thing. So most people say, hey, price
5:24doesn't push all the way back to the
5:26previous level in some cases. And that
5:29is okay. That is honestly 100% okay
5:32because price is not always going to do
5:34that. But this is okay because this lets
5:36you know that the sellers are getting
5:38stronger. They're not letting price have
5:40the chance to even push any higher than
5:43the previous level that it broke before.
5:45So in this case, price ends up making a
5:48level of resistance. Now coming into
5:51this London session, this is tradable
5:54by even scaling down to that fivem
5:56minute time frame and then breaking it
5:58down from there like how we normally do.
5:59So looking at price with this resistance
6:02level, we can see that price has this
6:04resistance. Boom. A small high is
6:07broken, which is okay. It's cool. We
6:09don't really care too much about it. We
6:11can see that price ends up making a
6:13level of support. Once it makes this
6:15level of support,
6:17we can see that makes a new low,
6:19corrects, and then coming into London
6:21session back under that yellow level
6:23that I have here. We see that once we
6:26made this indication correction and then
6:29coming into London session, we can see
6:31that that continuation happened under
6:33this level. So this is a possible trade.
6:36This is definitely a possible trade for
6:37the scalpers. You'll put stop-loss here
6:39and then you will be targeting the
6:41levels down here. And the reason why
6:42we're targeting the levels down here
6:44because that is overall where that low
6:47was made and then price ended up
6:49correcting. So you can see the uptrend
6:51started. We have that just go ahead and
6:53mark them all. Right. So, we have that
6:56support. Once we have that support, we
6:58have a a higher support. So, that lets
7:01you know you have a higher low. And then
7:03we have another higher low. And then
7:06price is still pushing up, corrects, and
7:08then starts to break higher high,
7:11support level,
7:13new resistance,
7:15comes back down or these resistance make
7:18this level of support. So, even here
7:20makes this level of support in here. And
7:21you can see it break down under this
7:23level. So these are also confirmations
7:25to let you know that price is breaking
7:27under this level trying to sell. Here is
7:29where we see buyers kick into the market
7:32for price. Buyers kick into the market
7:35push price up which caused this high but
7:38then that high failed short and we can
7:40see the lower highs kicking in. So
7:41overall all I'm doing is just reading
7:43the buyers and sellers reading the
7:45levels. So overall I'm just looking at
7:47the level determining if buyers are
7:50sitting here or sellers are sitting
7:51here. Obviously, buyers are sitting here
7:53and sellers are sitting here to push
7:55price down. So, I'm overall looking at
7:56the reaction and then playing based off
7:59that. But that's just a simple trade
8:01that you could have took throughout the
8:02whole London session. Um, whenever we
8:05trade this way, whenever we trade based
8:07off the higher time frame, scale down to
8:09the five or 15. When we do this, we are
8:12normally going to trade trends. So, you
8:14can always catch yourself ending up in a
8:15trend that you can hold long term, which
8:17is what I want you guys to learn
8:20overall. Let me make sure.
8:23Okay. Am I good?
8:27Let me because girl, last time you guys
8:30won't even understand. Um,
8:34okay. Yeah, I'm good. Perfect. So, um,
8:37all I'm doing is scaling down to that
8:40five minute time frame. If the one hour
8:42is bearish, then I would go and find a
8:44bearish momentum or a bearish movement
8:46and bearish structure on that five
8:48minute and 15 minute time frame. So
8:49that's all we did for this London
8:51session. And then with that new low
8:53throughout the session, you can see
8:54price is um going down still. So how you
8:58can do the scaling out or how to exit is
9:01normally your target will be here. So
9:03this will be your first target and
9:04that's already a 1 to three. And since
9:06you're aiming for that one to four, one
9:08to three area. I normally go for 1 to
9:10fours. You can, you know, trail your
9:13stop loss after this. Me personally, I
9:15don't like trailing the stop loss, but
9:16for some of the beginners, it is good
9:18to, you know, trail your stop loss and,
9:20you know, learn how to take profits. But
9:22throughout that whole day, I would have
9:23probably been holding throughout the
9:24London session. So, once the London
9:26session ended, which is roughly, let's
9:29see,
9:32let's see. We're still going through
9:33session. We have that big push
9:39London session ending.
9:44still looking for that London session to
9:46end. And London session ending would
9:49have came right around here. So, right
9:51around here. Um, if I'm even still
9:54holding this trade, there's a lot of
9:55momentum that came from price coming
9:57back under this level. And we can
9:59obviously tell from the five minute time
10:01frame. So, if we go to the fivem minute
10:02time frame, remove this. You can follow
10:05price just like this. So, follow it with
10:07the lower highs of the five minute.
10:09Boom.
10:11And then once you see this price makes a
10:13lower high and breaks above this and you
10:15can exit based off that. So if price is
10:18making lower highs on that five minute
10:19and once it breaks you can go based off
10:21that if you already hit your target. If
10:24you haven't hit your target yet in this
10:25case we already have everything after
10:28this you just need to follow with the
10:30five minute or 15 minute. So I'm pretty
10:31sure this was a 15-minute pullback. So
10:33if we scale Yeah. So the 15-minute made
10:36a low, scaled back up, retested this
10:39level, and then dropped again. So this
10:40would have just overall been a good
10:42trade. Um, no matter where you closed
10:44at, if you would have closed at the
10:45lows, or if you would have closed here,
10:47or if you would have held for the whole
10:48day and closed here, either way, it
10:51would have been a good session for you.
10:53But what that overall showed us was that
10:56on that 15-minut time frame, 5 minute
10:58time frame, we can make that entry. So
11:00overall that caused price to make a new
11:02low in the market on the 1 hour time
11:04frame. So now we have a new low on the
11:06market. And the reason why this is our
11:09low now is because we can see buyers
11:11kicked into the market and push price up
11:13in one direction. So overall, we will
11:15wait for price to continue to build that
11:17bearish level of support or that bearish
11:20level and then start to build up and
11:23start to give us that push to this level
11:25of support or level of resistance now
11:28and hold above these levels. The only
11:30thing with this is what people have been
11:33saying in the videos and comments is
11:35sometimes price makes a low and then it
11:36makes an indication to the upside or it
11:39it spikes out somewhere or grabs
11:41liquidity and how do they avoid that? So
11:43overall, as long as you're trading with
11:45the volume, you kind of avoid all the
11:47liquidity problems. Um there will be
11:50sometimes like let's say on news days
11:52where you know liquidity in the markets
11:54during session is still very volatile
11:57and those are just things that you have
11:58to take with trading trading in inside
12:01the volume times are going to be very
12:03risky because price is moving super
12:05super heavy. But as long as we're
12:07sticking to the higher time frame, we
12:08overall can avoid some of the, you know,
12:11noise that is presented in the markets
12:13throughout the session opens or
12:15throughout the sessions with volume. So
12:17as we continue, price is holding this
12:19level. Um, this London session comes in,
12:23kicks down just a tad bit and then
12:25pushes up overall. So it ends up pushing
12:27up above this level. And remember that
12:29level we was talking about earlier with
12:31the higher low. Notice how that level
12:33ended up becoming um you see how buyers
12:36were in control and pushed price all the
12:38way back up to this level. Look how that
12:40level plays now. Look how that level
12:43plays now. So overall, we end up having
12:47price push down. This London session
12:49probably would have been a loss um
12:51because I'm pretty sure it consolidated
12:54the whole session. And that's okay.
12:55Trading is not going to be 100% trading
12:57this way. But overall we know that under
13:00this level price has the potential to
13:02sell. Right? So since price has the
13:04potential to sell we'll come back the
13:06next day we'll count this London session
13:08as a win and then we'll count this
13:10London session as a loss. All right. And
13:14then coming into the following day. So
13:16the following London session we see that
13:18price is coming under this level. And
13:22we'll scale down to our five minute 15
13:24minute time frame. Go to London session.
13:26We see that London session kicks off
13:28being bullish. Even though it's under
13:30this level, we can see that London
13:32session kicks off being bullish. So now
13:34we're not in this trade. The only thing
13:36that's going to get us in this trade is
13:38price to turn bearish. So what we're
13:40going to do is continue to mark our
13:41highs as price is making them and wait
13:44for price to turn back bearish. So we're
13:46going to continue.
13:48Price is still making highs.
13:52Boom. Price is still breaking those
13:54highs.
13:59And boom. Notice how price makes a high,
14:02but that level of support that was made
14:05based off that high being made. So,
14:07let's go here. Notice how price
14:10we scale in. Price made a high, made a
14:14support, tried, failed to make a high,
14:17failed to make a lower support. So, in
14:19this case, we can't say that this is
14:21bearish because it hasn't made anything.
14:23So now we're not trading because it's in
14:25between a high and a low, right? But
14:27then price makes a new high. So now
14:29we're trading in between this and this.
14:31And then price makes a level of support.
14:33So now we have this level of support and
14:35this high. Now we're going based off
14:37this. So overall, as long as you have a
14:39high and a low, that's what you're going
14:41to go based off of. So since we have
14:43this level of support, now this new high
14:46is made. and we're going to go based off
14:47this high and this support because
14:51that's what we have in front of us to
14:52show us buyers are here and sellers are
14:54here. So since that happened, what I
14:57wanted to show you is look how price is
14:59starting to break under this level. This
15:02is very important because now we know
15:04London session price is breaking above
15:06this level. I am getting ready to sell.
15:10And the reason why we're getting ready
15:11to sell is because now we have a lower
15:14high. Price is starting to sell and we
15:17overall can see that the trend is
15:19changing because price is breaking
15:21support. Remember price is not going to
15:23break support just to be bullish long
15:25term. Right? If we're seeing the 1 hour
15:28is bearish and we're trading in session
15:30and the 5m minute and 15 minute are
15:32becoming bearish, then this is letting
15:34us know that hey, we're able to place a
15:37trade based off that break. Put our stop
15:39losses above here. scale back out to
15:41that one hour time frame to get our
15:43target
15:45which is that new low. And once we
15:47target that new low, that will be
15:49overall where we are swinging our trade
15:51to. Now the the safest way because this
15:54is how I do it. This is normally how I
15:56do it and I've been trading for four
15:58years and you know I've seen the market
16:01during session you know change trends
16:03and then overall go to those swing
16:05levels. So, I like to, you know, try to,
16:07you know, take my chances, take the risk
16:09to get into that trade early. But the
16:11more easier and more safer way to do it
16:14is waiting for price to come down to
16:16that level. So, coming down to this
16:18level of support, once it comes down to
16:20this level of support, you're able to
16:22enter off price breaking that level. And
16:24you can see that that there's a lot of
16:26volume because there's buyers sitting
16:28here. So, you see that reaction towards
16:30the buyers. Once price gets to this
16:32level, the reaction from the buyers is
16:34pretty strong. But the sellers are way
16:37stronger under these levels. So since
16:39that happened, we can see that price
16:41ended up continuing under this level and
16:43you're able to take that trade
16:45successfully under this level or even
16:48from the change of structure on that
16:49five minute time frame. So remember the
16:51whole strategy, the whole point is to
16:54use the 1 hour time frame, get on the 1
16:56hour or 4 hour time frame, determine
16:58what the trend is. Um have that trend
17:01make an indication showing which
17:03direction it wants to go. Once it shows
17:06which direction it wants to go, you
17:08overall want to say okay price is
17:10indicating that it's becoming bearish.
17:13So I will look for signs that price is
17:15becoming bearish. But price is also
17:18going to correct once you have those
17:20indications. So as soon as you get the
17:21indications, price is going to correct.
17:24Once it corrects, you'll scale down to a
17:255 minute to 15 minute time frame. And
17:28then you'll look for price to go from
17:30that bullish to bearish. In this case,
17:33all we did was we seen that the 1 hour
17:36was bearish. We scaled down to that 5
17:38minute 15 minute time frame. as it was
17:40correcting as it corrected we started to
17:43see the signs of the five minute and 15
17:45minute time frame becoming bearish and
17:48we traded it in volume. So if we go
17:50back, we can see that the time that we
17:54was trading was London session. And look
17:57how London session turned out for us.
17:59And then overall, since we're trading on
18:01that higher time frame, so since the 1
18:03hour is overall making its move, we can
18:06say that, hey, this is something that we
18:08can hold longterm. Obviously, take your
18:11targets right here. So this will be your
18:12first target, and you don't have to set
18:14a hearts um TP. So that means you don't
18:17have to set it on your trading platform,
18:19but you can kind of set an alert here
18:21and see how it goes. And then overall
18:23continue to monitor it, monitor it as it
18:26continues to go down. So TP here, hold a
18:30couple partials and see what price is
18:32going to do furthermore. So we have a
18:35swing low here and we can say that hey,
18:38we don't want price to come back above
18:39this level, right? And as we see price
18:41during another London session is holding
18:44as much as possible below this level.
18:47So we can feel comfortable with holding
18:49this trade a little bit longer and just
18:51overall you know monitoring the trade.
18:53We can see that price is making new lows
18:55and we can see that price is willing to
18:57go down with those new lows. We just
18:59don't want price to make any kind of
19:01bullish structure. And we're still
19:02following price. It's still making those
19:04lower highs. And we're still feeling
19:06good about this trade because we have
19:08those swing highs. And I'm I'm really
19:11good at doing it on the 15 minute and
19:13five minute time frame marking up
19:15because if we scale out to the one hour,
19:16I'm pretty sure it's going to be the
19:17same highs and lows. But yeah, as you
19:20can see overall, we continue to hold
19:23this trade throughout

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