FOREX Blueprint: Key Levels of Support and Resistance Tutorial
what is good my forex robbery syndicate it is your girl jax back with another forex finger here to add value to your life do you use profits quickly by teaching you today some support and resistance levels as well as trend lines now if you don't know what this is it's crucial you watch if you do know what it is it's crucial you also watch to make sure you learned it right now without further ado let's hop into things all right now do me a solid how to tradingview.com that way when i get done with this explanation you will already be prepared to follow along so what is supporting resistance for instance i'm just going to start with the basics without us looking at candlesticks which some of you may not even be familiar with so let me begin by creating what is called an uptrend and you'll learn about that a little bit later in this video so in an uptrend what you want to see is higher highs lower lows higher highs lower lows higher highs and lower lows it will not be perfect you especially while learning forks do not want anything to be perfect because no scenario will ever fit anything you ever learn with any other course so here i am to keep it raw and real what is the point of resistance you ask now after this uptrend downtrend support and resistance often acts together so for instance what you'll see here is called resistance you can treat resistance as a ceiling because you're for instance if you were a ball and you threw yourself against the ceiling what would happen you'd probably react to it resist to it and bounce back down now here is what we would call support so the peak and then we go down to a valley after you react to resistance which is support it is supporting you so now you continue forward you break through this previous resistance and now you find a new resistance you test that and then you react towards it go back down previous resistance is now support because price has broke through it found a new higher high and then reacted to that higher height by retesting the low to ensure that the trend will continue this is why this is one of the largest and widely used concept in forex if you don't get this you've got to re-watch this video time and time again until you do because i promise this will lead to profits if you have thorough understanding and know how to actually draw this this will put you in the forex game for sure and have it on lock now let's go to actual values so you can see the charts so if you've had tradingview.com loaded up you're going to see some kind of chart i'm playing off of usd jpy right now because it's currently 9.25 with the links i showed you in the previous video if you didn't already look what you want to look for is the forex market hours it was one of the last links in the last video so right now if you're looking at your time zone for me i'm in eastern standard time new york time so anything past seven up until three am it's a tokyo session so i found this you could see price react just the smallest bit tokyo session it doesn't move much but luckily in this example what you're going to find here is price reacting to recent support and resistance level now whenever you load up trading view i want to encourage you to zoom out we want to get the whole picture so this is what it may have shown you but we definitely need to zoom out quite a bit until you really can't see much at all on your charts reason being you want the entire picture you want to be informed see this is too much but you want to be informed enough to know where history is going to repeat itself like i mentioned in my previous videos you look towards the past so it teaches you the present so here's a tip before we even continue draw the most obvious levels if it's not obvious it's not worth your time now number two start with top-down analysis i'll go into that in a different video but what that means is that minimum start drawing your key support and resistance levels on a daily chart those are the most significant and you can move down from there and color code them and sort accordingly all right now here is an example we're looking at we want to see the most obvious levels right so that's the next most obvious here's another in the middle i would actually react to this most recent all right and whenever you're drawing supporting resistance levels it's kind of a use to now here's another tip whenever you're drawing support and resistance levels it's entirely a waste of time if you're drawing them all the way down here unless you're looking for months ahead forecast because price is already up around here so what we've drawn so far services us in the present you want to draw around here key support and resistance points to look for because if you're drawing down here it makes no sense you're not going to see that for a while trust me so here's another obvious level now you'll see oh they're kind of equidistant why is that it's called market geometry and like most things in life there is some symmetry aspect you have to take into account so like i said just draw the most obvious levels from there you can adjust with the most touches i've been doing this a minute so you'll see right off the bat most touches are just going to be there automatically so you can adjust accordingly so these are the most recent that i would paint that way you can see how price reacts to each individually now being that their daily levels again they're going to be the most significant and then you want to do top down to see other short term levels from here i would go to four hour one hour and then for me personally i'm a binaries trader so i go anywhere in between if i'm not doing per pips trading which is holding throughout the day um any period of time you can even scalp for pip trading but for me personally i like a set time and a set value for money in minutes now moving on with this support and resistance if you were to zoom in current price look how it's reacting this was previous support you could even move it up a little to edit it and then this was resistance so we can move this down now if you'll see if we zoom in like i said previous previous support has now become current resistance just like here support in these areas became resistance later on before it broke became support again right here broke down became a semi-resistance to react up now if we zoom towards key values we're going to see the following this is current price action now because it's past seven and between seven to three eastern standard time this is the tokyo session which is why i picked this pair the us dollar the japanese yen meaning it's not over the counter anymore it's live trading so in this price the tokyo session as i mentioned doesn't have much action currently but you'll see that it's operating within two support and resistance levels now it may not be so clear to the eye but what i look for personally is over here wicks wicks wicks lots of wicks wigs are kind of the key here look over here another wick down what was previous resistance right here is now support and test before a breakthrough here another resistance quickly became support testing that level again fell down because it tested right here another resistance level failed broke all the way past this for failing uses this to support wick wick wick lots of wicks are gold in our eyes i'll need to blaze up and this is why i like this level right here which our current price action is testing but i'll tell you why this over right here you see this large green bar it basically inferences that there's huge price action we like a sharp move we like lots of price action only to test a particular key level especially a daily one like this only to be rejected so quickly in a sharp move back down that's beautiful that means it's a very strong level of support and resistance so we continue breaking through it then tested the next level it had to go back down because it failed it re-tested this level and it still didn't like to go back up now this level that it retested was previous support once it finally broke through in its strong mood tested the last and then came down so what we call this is the high of the day and other than that that's pretty much all it is it's a key level of resistance so far nothing has surpassed it but something you want to look out for it's kind of significant this happened in march of this year 2021 so that tells you something we haven't surpassed it yet we'll see how this goes now where we're at currently we already retested the previous level it failed and we did a sharp move back almost equidistant to this candle but a little bit longer continued down tested this level but not quite came back up now we're in limbo now there's two ways to treat this it's basically the bounce or the break now the bounce is when people buy when it falls towards support support being a bottom level so it bounces from support and you buy after a sufficient confirmation of course in whatever time frame you prefer or it goes towards resistance and then it bounces from resistance back down after sufficient confirmations that you're comfortable with in whatever time frame you so choose again now the break is whenever it breaks up the resistance now say this were to break this resistance i would look for it to at minimum break these three wigs so here at about 109 944 so it does skimp your profits a little but there's what's called a false breakout now any candle that doesn't close beyond a significant previous level wick is considered to be a false breakout if it does close beyond that and close meaning there's a timer here telling you whatever time frame you're using that's the expiration of the candle so this is a daily chart it still has 19 and a half hours to go for instance if you were to go down to a one minute chart i'll show you here this one singular candle has 30 seconds to go so just depends on what chart you use so for lesson purposes going back to the daily we're looking towards these two key levels right now you can either trade if you trade by pip the bounce or the break i could break down how you do it in binaries as well these are significant key levels what i do for binaries i'll look on one minute zoom out let's color code this a different way just so we don't get confused here we will go the pink okay why not all right now these are binaries levels i would look to see depending on who you are a bounce or a break trader in fact i'll give you a little secret right now but i want you to practice you see these wicks well i was going to tell you it's going to fall so these wicks were testing not only this level and rejecting but the secondary wick tested beyond this respected this previous level of support and resistance and then fell strikingly so you want to see with a larger move up i reacted down right here another force up to test this level previous support now resistance only to fail it comes up another time and it rejects it now once we learn in japanese candlesticks the next video hang in there trust me it's worth it this is what's called a doji in particular a rickshaw man this is strong signal of indecision now we don't work on indecision unless you're more advanced and you know what else to look for in the past tense so if we're at this current level here's a secret and you look at this past tense level i would sell anywhere under this candle because it's tested this level twice double top technical double top and i'll teach you about this in the next pattern and japanese candle video that this candle did not close above either of these double top wicks validating a double top it came down retested the level overall failed i would sell right about here which is what i was showing you live before this massive bar down that would have happened and you would have made whatever you wagered in a minute's time isn't that the craziest thing alive this is why it's so crucial you have to learn support and resistance so look here's another key level formed it's particularly important when there's three touches we already had three here's a fourth that rejected let's move this all right so you just rejected this what is now support what's going to happen next i wager it's probably going to check this next upper level where that was its own resistance in this movement's right you see where that wick is right here i wish it'll come about here before we sell it let's see i'll color code this and then we'll speed things up so that you can see if i'm right or i'm wrong and then we will go into advanced later see if it touches this yellow maybe goes a bit above about here and then it'll wamp back down within a minute to two minutes time you'll see so that was the example that i was talking about this is some advanced material you can look forward to and make massive profits in a minute's time look where i was saying about here with this last wick and previous wicks the bar almost immediately reacted downward i'm glad you got to see that live example in the tokyo session that way we can move forward with trend lines and trend channels at the end i will show you exactly how to practice all these concepts so you can absorb it yourself i will also give you my email address that way you can send me all your marked up charts and say hey teach or please call me sensei am i doing this right how should i improve are these key levels right how can i do this better so what i just showed you is not only how to very top down analysis what you should do and i'll show you top down analysis in depth in a further video where you can go from daily incrementally down to a minute like i did it in the that much of an instance so now that you saw that very sweet example and why this is so beneficial to you let's look here what we're going to do is draw ourselves some trend lines now this is dating back to what march 2020 sharp down obviously because this was the coronavirus pandemic dating about from february boom beginning march drop goes all the way back up because we handled it a little bit better than japan you know unfortunately so the us dollar this pairing was actually very strong against japanese yen now we started in a downtrend all throughout until january 2021 the beginning of this year and it seems we're in a slight uptrend so here's the reason why i show you this you want to catch some of the lows let's see what kind of trend we're looking at here so i like these and i'll tell you why a lot of people do it at the very bottom of all of these and you could it would be valid what you need is two significant points of touches for you to draw a trend line what you need to validate a trend line is three significant points here's one two three four if i were to tighten it up like i prefer it here's what i would do okay all these wicks you see all this action in here now i'm not sure if you see why but i like one two three these come close almost we'll count this i guess and skip this four five six seven eight nine i think a potential almost ten let's see 11 12. now these candles so they drop through the trend that just means that it was a breakout to test this trend and it broke back in validating the trend and making it even stronger now this is broken out and we're going to see how it reacts but if you were a normal trader you can easily do this as well it would fit constraints easily one two three four five six seven eight so we'll just do normal trend lines for now and follow up in advanced series what you want to do on a daily just do control c which is copy and ctrl v which is paste they'll be the exact same line and you can move it around to fit exactly your trend and what you need so advanced series this is exactly how i would place it this was a breakout and that's about it it fell back in this is still valid so if you see a trend line you can kind of just do buys buys buys buys buys buys buys if only say see that example buys buys buys buys buys buys buys buys and it's so valid it's a very strong method what makes this even more advanced and a little bit more affirmative if you wanted to take the opposing position find use the opposing trend you don't make your you don't make the market fit your lines you make your lines fit the market if you're making the market fit your lines you're going to be wrong and you're going to lose a lot of money so let's see it looks like right here it's testing the significant level just like i told you in the scalping and it'll probably continue up it's going to retest this uptrend and go upward you'll see especially if you watch this later on and check your own charts after this date of upload so one two three four five when i came back down and tested outward six seven um eight nine 10 11 12 13. almost 14 and 15. so it seems like the trends weakening whenever you make a trend
shift generally it happens over time it's not just going to be a sharp it's very rare whenever it is some sense of market manipulation so now that we copied not only it's just a trend line we pasted it and that means this is now called a trend channel it's a up trend channel or an ascending trend channel meaning whenever it pings around these points you're pretty safe to take a tread a trade now if we zoom here say for instance it pings down here and it goes up if you identify previous support and resistance levels which are these black lines on the daily you would see that here on this previous resistance now support and then resistance again level plus this uptrend line that gives you already two points of confirmation beyond anything else you're going to do you would also get these wicks afterwards and then a boom drop this happened over several days so if you're a perpetrator you can really cash in if you're a binary straighter i'll show you exactly how to do this as well it's the exact same thing you just do it on a smaller scale so let's hop to that why don't we i'm going like a five minute chart why not so you want to zoom out see it's been testing this bottom for a while before it picks up it looks like it's gaining some traction now so it's kind of trading sideways on a short term so here and here so let's complete this and look upwards because it's been testing this last bottom trend line for a while and it's going upward it's pretty much just trading sideways if it's ascending which is a uptrend you would look for more of a steep incline say something like this in these bottoms upward now this is another valuable lesson the steeper it is the more unreliable the trend line is the more incremental the more reliable you see that means it would happen over time but you can't just move your line wherever you want you have to know how to draw it properly so say for instance you need two points to start a trend line i don't even like drawing it towards the wicks like drawing it towards the bottom bodies of the candle because wicks are pretty much impulsive moves throughout the market now you already have one two three four five six seven eight touches going downward so if we were to just do recent you totally do this on a five minute let's draw oh sorry let's draw our parallel on this binaries as well oops now what you want to do ctrl c if you didn't know that copies then ctrl v as in victor that paste and then you just do your trend line downward because it's a trend channel like this i would move it tighter here you see where all these wigs are that means impulse beyond impulse beyond impulse beyond however they all close above this trend line you can even extend this if you wanted to further validate it's entirely not necessary now you can see the constraints in which if you had a center line it would probably bounce bounce break re-test boom through bounce break your re-test boom there you go so you see it pings off all these times these will be massive opportunities for very short term cells on the lower end one two three four five six seven eight nine ten eleven twelve thirteen so if you wanted to be safe being that this is a very short term downtrend if you were trading on pocket options or any other binary broker versus the per pips brokers you would see that this is a short-term trend you could follow how however we hop back to the daily overall it's an uptrend you must respect now let's go back to the five minutes i could further explain all right so we definitely reacted to this one or two things can happen there's probably gonna be an equidistant mid channel but you could actually learn how to draw andrew's pitchfork and i could actually teach you if you so choose in a different video or i'll probably just put it anyway one of the many different technical analyst you're tools at the center somewhere around here look how reactive these points are let's go here now it seems like it's broke the center point the midpoint but not by much one of two things can happen if it breaks significantly like say past this previous high and low of this last high and downward formation if it breaks past about here i would say it's going to continue for a retest to this line and go upward for your binaries traders of course now it could test here and it could reject now i'll teach you all about these patterns later that you want to learn about it's actually the next video to see common reversal patterns be it single dual triple etc and japanese candlesticks that's why i love this so much you know these basics like trend support and resistance and you learn your japanese candlesticks you're already off to the races and more profitable than most traders out there because they don't know how to draw any of these levels correctly now you can keep these levels go even lower i like to trade one minute trees and i'll really show you some sweet entries because one minute tree if you drew this on a five minute it's pretty respectable and you'll most likely win now you can tighten it up here if you see like this for instance this wick it'll give you more accuracy you see about right here that test that test this test these wicks this upward test this almost upward test now it's testing this boom i reject it so it makes more sense and the one minute what i love about it in binaries and any other even per pips trade i always zoom in to find the perfect entry nothing other than this chart will show you the perfect entry because you can really zoom find the exact value where it's going to react look this is even a double top on a minute chart and boom back down so this is pretty much the essence of support and resistance channel what i encourage you to do make a trading view account if you haven't already i'll link the trading view tutorial down below that way you have reference material for how to use it and how to set it up if you so choose if you have not seen it already now my recommendation once you do so let's just go to any pair say g b p j p y that's another japanese yen pair so it is technically live let's go today look it's actually i had a previous level that i drew now keep in mind these lines and levels that you choose they're not precise they're areas so it's currently reacting at an area of support and resistance you need to pay attention to now moving forward self-study is always important in any craft this is a market high so i say pick any currency pair and so choose and there's practice every single pet you see this long list do it for each and every one i dare you once you do this ample amount of times you're going to see your profits fly sky high why well number one you take pride in your craft you love it and it's of something of value now aside from that practice makes perfect now once you see these values boom they're near perfect another thing again equidistant behavior is not uncommon as the markets fit market geometry you see how almost equal those lines are and i'm just eyeballing it it's crazy these are very significant too again if i zoom these are levels where i see potential resistance resistance resistance resistance rejected fairly close above there and that's when it flew up tested the next level it became support blew up tested again became support came back up if you see the green count of this slightly and boom it broke through from here the next level would probably be something like okay so you see this wig just for this example purposes i drew this slope normally i wouldn't so here broke through retested is now resistance came back down wamped through all the way up to the next levels came down support want through again resistance wamp down all the way through previous support support support support support support look at all those wigs boom tested this previous resistance right here you see these wicks so it's fair to anticipate this to come right somewhere around here as well as these values later on came back down to previous support womp back to resistance and so on and so forth so i encourage you to take these charts mark them up i will take time out of my day email me please flash this on screen the lavish mecca outlook.com send me screenshots of your charts all you have to do trading view presses button send me all these urls copy paste and then you can see exactly whatever you did put that in the email say hey are my support and resistance levels right how would you do it how can i improve and i will take the time to review and get back to each and every one of you i promise because i want you guys to become profitable it is so crucial you get these very fundamentals everything else just extras all those dumb indicators these calculations all these retracements and other garbage all you need is eyes because later on like all these lines i just naturally see and then it may seem busy right now but boom later on you will see this naked chart and all you will see with your own two eyes is levels of support and resistance and more importantly what that really means cash money these profits okay as always it's a girl jax i hope you found some value and it is crucial you understand this lesson rewind do whatever you need get it down please practice on your charts please send me those emails i will take the time to review each and every single one because i want you to line your pockets fat with profit you can't do that without this lesson and furthermore look forward to the next video where we learn all about japanese candlesticks one of the most crucial components to trading as well quick reminder it is absolutely free to like comment whether good or bad we always appreciate the feedback regardless subscribe and then click that little bell next to it select all to turn on all post notifications now this is also to your benefit because it enters you into our monthly giveaway every last day of the month we greatly appreciate you it's such a humbling experience to be by your side watch you grow as well as grow as a personal traitor even after nine years teaching you guys i appreciate you wishing you all the best and i'll see you very very soon so we can learn some japanese candlesticks together you
2021-06-15 18:41
