The Only Technical Analysis Video You Need To Get Started **Free Education**
If you want to learn technical analysis but you don't want to sift through these thousands upon thousands of videos on the internet. This video is for you on this channel alone. There over 90 videos. Detailing every aspect of what I'm about to explain to you but if you want the overall in condensed version to save your time, this video is going to show you everything you need to know about technical analysis. Welcome back to the channel, everybody.
My name's already and this is the moving average a show where we discuss everything day, trading to keep you profitable on a consistent basis. So as the channel has grown, and the amount of videos that I have has increased, people are finding it more difficult to figure out where to start. So, in this video depending on what things specifically you want to learn, there will be time stamps down below, everything will be divided into chapters. This video is going to go over everything that you really need to know from A to Z starting with candles and Candlestick pattern as well as different time frames. Then we're going to move into trending Marcus and go over support and resistance stones. And some of the most important aspects of this video is going to be discussing divergences, where to place your stop loss and how to track your trades over a long-term basis to find good statistics, and where you can improve on your trade and you guys have probably seen my videos before and know that I'm upset with indicator.
Indicators, show you things that your eyes can't easily. See computers. Are there for a reason to help support us in our journey? So, if the tools are out there, why not use them? So let's get into the chart. So I can teach you some technical analysis, so it doesn't matter what you're looking to trade, whether you're trading cryptocurrency is whether you're trading Forex, whether you're trading, indices or Commodities, all of these things have historical data that are shown in chart. The easiest way to read these chart is using a Candlestick chart as opposed to a standard line chart that you would see on.
I don't know, 24 hour, news networks with a traditional Candlestick chart. Each candle represents a certain amount of time depending on what time frame you're looking at so discussing time frame and you can look at anything from the one. Second chart all the way up to the one week chart meaning that each one of these candles represent that time frame. So right now we are on the 4-Hour chart.
Every single one of these candles represent for hours. Now I've drawn this detailed schematic for you guys to understand how a candle is structured when a candle start depending on whether it is red or green green. Being a bullish candle means it goes up and red is a bearish candle means that it goes down. But the way that every single candle is formed. Say, for example, if this is a green candle.
So the price would open right here, that's the starting point of this individual time frame. This middle section Right Here is known as the body of the candle. It is the open and closing position of this candle. So if it's a green candle, it opens here and it closes here. But during the course of this candle safe, for example, it was a one-hour show at 12 it would open right here and it one it would close right here but during the course of this one hour its lowest price was here and its highest Price was here, these are known as Wicks. Now the reason why this is important when a candle opens and closes and what the top and the bottom of the price was during this one hour.
Candle is because when you change between different time frames, let's say that this was the one hour candle. Write this one candle looks like this and it was green. So within that candle, if you were to move the time frame from the 1 hour to the 15-minute, there would be for 15 minutes. Candles that would comprise this one hour candle. So this is what it would look like.
You'd have one green candle one red, candle bringing it down to the lowest point. One, big green candle taking out to the highest point and a subsequent red candle. Bring it down to the close of the camp. And again, this can be broken down to a smaller time frame.
So each one of these candles with a five-minute would be 3, 5-minute candles. This is why understanding candle shapes and structures will show you what patterns are Forming within that. Each one of these candles tells a specific story for this one hour candle. This is a specific store.
Now, there are specific Candlestick patterns and types that you need to know. A few of them right here, art D doji candle, meaning that the open and close price was the exact same with a wick in the up or down direction. That means that the candle opened up here. Came down, and then shop vac up here, these are usually good, bottom indicators. And on the other side, this doji candle would be a good top indicator me. The price was coming up rejected and then came down closing at the same point that it opened another Candlestick that you really want to know is the morning or evening star.
It's basically the open and close price is in the middle, and the price went up and down during the course of that candle. These candles really signify in decision in the market is going to go up to the going to go down. If basically tug of Evenly matched any last Candlestick pattern that I really want to focus on is engulfing candle. It is the number one entry point for almost every single, one of my trade and engulfing candle.
Simply means that the candle in the direction is completely engulfing is previous candle. Soap example here, the price went down from open to close and then the next candle shot up completely engulfing. This candle and closing way above and much bigger than the previous candle. I'm going to explain why and dolphin candles are so important a little bit later in the city of. Okay.
So now that you have a basic understanding of Japanese candlesticks now we can start looking at them all together and look at what the price action is doing the movement up and down with Japanese candles is called price action. So now looking at this Japanese Candlestick chart, you can see prices been going down, price moves up, then price came down again. Do you know each one of these candles mean? This is a one-hour chart. So each one of these candles is one hour and if you can read it right? They tell a very nice story.
The next topic that I want to get into is trending markets, which direction the price is going to go or continue based on the trend of the price. So clearly, you can see the price was up here and came down. This means that we were in a downtrend after that, it rejected and came up showing an uptrend on tradingview, you have an amazing set of tools. You can draw trend lines, you can draw squares, rectangles shapes numbers, type on here, absolutely anything that your heart desires.
So if you want a full tutorial on how to use tradingview just YouTube it, there's some pretty long ones out there and they show you every aspect of. Now when looking at Trends, you can either draw a solid trend line showing, clear and concise. Rejections off of certain points, a general rule of thumb How is to just look at the general direction? You can clearly see the prices going down. So, we are in a downtrend and subsequently right here, the price is going up, and we are in an uptrend. Now, when the markets are not trending, not going up or down that.
Right there, for example, Here is known as a period of consolidation. You can see that the price is almost flat for a given. Of time. Periods of consolidation are areas that you really want to avoid trading at all costs. Because for example here you could have been stuck in a trade for a very very long time waiting for the movement to go in your direction. Now the last thing that I want to discuss before we get into the specific strategies that you can use to trade these market and be profitable is support and resistance down.
A lot of people tend to overcomplicate support and resistance but it's very very simple. You simply take the chart out to a higher time frame either the one hour or the four. Hour and you draw a horizontal lines across the tops of these prices that you see. So the absolute top and the absolute bottom as well as these areas where the price rejected or used support. Now, you want to draw these horizontal line on where the price touched the most. That's going to be a great indication to show you the zones that you should be targeting and the direction that the price may go in the future.
So now that we have these levels of support and resistance drawn up, now, you can see good Market structure, meaning of the market maintained an uptrend and basically did this staircase pattern moving up and down through these levels of support and resistance because they previously made movements at these specific levels, it's more than likely. The next time they reach those levels, there will be another significant movement history, tends to repeat itself. So, you now understand Candlestick patterns, as well as time frame you now. And what a trending Market is and now you know how to draw your support and resistance level is the foundation.
You must know and understand very well in order to be a good Trader. So now I'm going to get into specific strategies that you can use to navigate the markets and figure out where and when to enter your train. Now, do you remember what I told you before about engulfing candle resume into this section right here and show you two examples of engulfing candles, which would have been amazing entries for both of these trays. So, we have this level right here of resistance, the price is resisting to get through it right. When it hit that level, you have this big engulfing candle, meaning that it engulfs the previous candle and the price started to come down.
We had another engulfing candle and another big engulfing candle right here. Every single one of these candles from the price rejecting, this Zone would have been great entries for you, and you can take in a short position. Targeting this next zone. Now, each one of these subsequent engulfing candles basically keeps confirming the move to the downside. This is why involving candles are so important because they are momentum-shifting candles and they also trap a lot of traitors. When you see an engulfing candle, you can almost be certain that some Traders were trapped in the opposite position.
So for example, here we had a lot of bullish momentum a lot of upwards momentum and then a big bearish, candle trapping, all of these traitors that went for long positions. Once these Traders are trapped, they're usually done for. There's a little bit of help with some of these candles coming up.
But then more engulfing candles and this is going to definitely close them out of their trays in a losing position. But if you personally wait for these big engulfing candles, you can actually get really nice movements with the market. Now, when I tell you the number one rule of day, trading is the trend is your Friend, you need to take it to heart, always trade with the trend of the market. If the market is trending down, go for cells. If the market is trending up, go for by, this is obviously started a new downtrend. So you should be only looking for short position targeting this next Zone, you can see it happen again right here to the upside.
Once we were at that bottoms, do it used as a level of support now, and we have this big humongous engulfing candle and you could have easily targeted the next support and resistance. So now you guys know that. I'm a huge fan of indicators. Indicators show you things that you don't normally see. So there are certain indicators on tradingview right here at the top.
Toolbar you click the indicators, but they have built-in free indicators, offered by tradingview. They have a public library of all these different indicators that people have made and there are paid indicators that you can purchase that somebody. Send hundreds of thousands of hours on developing an indicator. If it's going to show you where the prices typically going to go, I'm a big fan of free indicators and I'm a big fan of paid indicators thumb suck and summer great.
You just have to find the one that best suits your trading sound. So I'm going to show you a bunch of free indicators as well as a big sweet of paid indicators, both of which can be used together or separately. Depending on what you're trading style is, whether you are Trend trading going with the trend, whether you are swing trading folding, really, really long positions for a few days, or a few weeks or whether your scalp being in and out of a position in 15 to 20 minutes. So when using support and resistance levels like this, and you're waiting for these big engulfing candles to show you where the price is going to go.
Now, I'm primarily going to be talking about the perfect entry, sweet of indicators. These are all known as the pimp Hunter indicators. I'm going to highlight a few of them and show you how they work with support and resistance with. Sending Marcus all different methods of trading.
So with the support and resistance, you can toss up the tip, Hunter SS indicator. And now you've drawn up all of your support and resistance areas, correct? Then when price reaches the specific Stones, you actually get these buy and sell labels at these owns the right here. We get a nice and golfing candle and a Buy Signal meaning of that. You can buy at this point and Target the next Zone you got it again here. And again here and again here at the bottom of that zone then once the price broke through the next Zone and retested this one which is very important break and retest actually confirming that.
That breakthrough is solid you keep getting these by signals and you can easily Target the next zones. Pick up Hunter SS and support resistance down literally you can trade off of one indicator and drawing up these lines at the high and the low point of the price action. That's it. I remember the price is going up so you should be good. With the trend. So here you can easily see that you're only getting by signals.
Going with the traffic. It's not until you have these huge momentum moves down that you start getting cell signals showing of a reverse in the trend to support and resistance and pick up Hunter, SS freaking amazing, another method of trading these support and resistance levels is using double tops and double bottom, you can clearly see that right here, we have a bottom and another bottom, this is a double bottle full time at the price. Hit a level of support.
What I like to do, with double bottoms and double tops is check for a Divergence. You can find divergences on any type of oscillator whether it is a sarcastic RSI or a traditional RSI and through the generosity of the amazing community that we built around this channel, we actually have a free indicator for you guys called the TMA RSI Divergence. So will you toss this indicator up? It is basically a solid yellow. RSI with one solid line at the 50 level, as well as a floating moving average. Now, when looking at Divergence has there are regular divergences, and hidden. Divergences, I've done a full video, detailing everything that you need to know about Divergence has right here.
So go watch it after you finish this video but basically we can see that the price at the same level twice. But when we zoom in it to the RSI indicator you can clearly see that this level is actually lower than this level. When you're this low on the RSI is known as oversold and when your high it is overbought as a general rule of thumb just to keep in mind while your trade, but because it was oversold at this area and it was actually hired here, meaning that it is less oversold by the price. Hit the same level, if not a little bit lower that right there is called a Divergence and this one in particular, is a bullish.
Divergence mean you that the price is probably going to shoot And sure enough. If you spotted that Divergence with this level of support right here, you could have waited for a nice and golden candle and got in on your position. Again, targeting this next I want you guys to focus on trading engulfing candles and going to the next Zone you know for sure it's going to go to that zone.
You're not completely positive. What's going to happen afterwards, the trading in between these zones is a really good trading strategy as you can see. If this out and take a big picture of it, you can see those small moves that I was talking about going from one zone to the other.
This is primarily known as scalping, you're in a position for quite a short. Of time, there's a lot of traitors that like to swing trade, they want to get this entire move and they want to hold their position for several days. Now, another indicator in the pimp Hunters. Sweet is actually going to help you hold these trade long-term in these trending markets. This one right here is the original pick up Hunter.
Decatur is called the Baseline overlaid, and you can clearly see when looking at the big picture, you get these big green and red clouds in trending market. So, the entry points for your trades did the same concept that I just explain it. But now you're able to hold your trades much longer knowing that you're living in this green cloud or this Red Cloud, and you can hold your position far longer and get far, larger profits holding trades, that amount of time.
Also, with the pimp Hunter indicator, you get these amazing blue and white stars showing bullish movement for blue and bearish movement for white. So as we broke through this level of support and resistance, starting a new uptrend, you could have gotten in on this one star. And as long as this Cloud saved green, you could have held that trade all the way up to hear. Now that's a 12-day move but you got five hundred and Twenty-One points off of the u.s. 30 move and that is a massive amount of money just for the you guys can Understand it. If you wouldn't trade the smallest lot size, 8 .01 on this one.
Move you made $521, but if you traded the bigger lot size of a .106 would have been $5,210, and if you traded one standard, lot on this, you would have made $52,100 off of one move using one indicator know. Another thing that you can do to clearly see trending Market is actually use something known as a moving average. A moving average, basically is an average of the price during a given time frame and it'll kind of move up and down with the price.
And this will show you like, hey, the price is above this moving average. So, we are in an object, the moving average is going in the opposite direction. We are in an uptrend subsequently. If it is below and the line is Arch down. We are in a downtrend, I like moving averages just to show me the trend of the market.
Now, I want you guys to focus on holding trade longer. I want you to get a big majority section. Of this move in the way to do so is using indicators that show, momentum. Momentum of a move. I mean, think about away, when a wave in the ocean is coming in towards the beach. It already has all of that momentum behind it.
It has a big force. And when you're trading the market, if there is a big momentum shift and a big momentum move, it goes very, very quickly. As you can see here, the momentum, Stags down right here. And as the momentum started, going the other way, it started to Cascade faster and faster, and faster. And you get these massive volatility spikes up or down. If you want to stick with the momentum.
The trend is your friend always and momentum will help you hold your trade longer. So in the punters sweet, like when you buy this entire package you're getting seven. Different indicators that you can completely customize to your trading style and one of the two best momentum indicators are going to be the mom. Phantom Extreme as well as the back. Now.
I know this seems noisy for you, but there's a lot of math and algorithm that goes into this indicator. You can clean it up a little bit so that you just have the cloud right here but it's best to learn how to use it. As is. Now, looking at this big, massive swing down that I was just explaining to you with this momentum movement. Again, your entry points are going to be. As I described earlier, your big momentum-shifting candles, those big engulfing candles.
For example, right here. A big momentum-shifting candle breaking through that, previous level of support, that one candle right, there is going to be a nice indication to say, hey, we're probably going to Target the zones below here. Now, when you couple that with the momentum Extreme as well as the pipe Hunter back D, you can see everything lines up red. We're showing massive bearish, momentum and Diaz those lines separate. More and more.
You're seeing a massive momentum shift to the downside. These are the types of Trades when you see this type of momentum, with this type of Separation, with the back. The, you can comfortably hold it below the next Zone targeting The Zone after Zone after Zone with a trailing stop loss. I'll get into that a little bit later so you can see using multiple indicators as a Confluence, to help you hold your trade is extremely beneficial because out of this one move 1133 points on US, 30, do the math, from what I explained earlier. It's cute.
You can see the moment it didn't change to the upside until right here, whether you're scalping or whether your long-term trading, you're actually trading with the friend you're doing swing trading, it doesn't matter, which is trading style you choose, but you should always have the support and the Confluence to enter those traits without confidence in your trade, you're either going to get out too early or get stopped out. Because you have your stop last week closed. Now, you remember me talking about the moving averages. It is one of my favorite ways to tracing the trend using moving averages and where is finding support. And resistance is very, very good.
Now, if you wash my previous videos, you know, that I used to Overlay six or seven different indicators to best suit, my strategy. And thankfully there was somebody in the community that took all of those free indicators that I used and piled them into one indicator to reduce all the Clutter on my screen, and me having to use 7 indicators and they named it the artist. Now, this indicator is free and it's offered to everyone to hear. There's a link down below. This basically, shows you three, moving averages, the 21 the 50 and the 200 as well as giving you arrows on engulfing Candles. Now, this is version 2.0.
So it actually got a couple of upgrades. You probably saw the previous video that I made it shows a bit of momentum in the movement right here. But the thing that I want to focus on right here is this chart that's actually a cat. Watch to this indicator.
Is basically a built-in a t r v, a t. E r is known as the average true rain, which at any given time during the price movement up and down, the average, true range will show you how much it is potentially going to spike up or down within that one candle. So currently you can see on the ATR of us. 30, it is 56 points.
So this next one, hour candle has the potential to swing up and down 56 points. Now, currently the current price action of us 30 is at a pretty substantial level of support and resistance. If it uses this level as resistance and we get a big bearish engulfing candle. You can look at this chart right here and it will show you the current ATR and if you are going on a short position, it will actually show you what your stop-loss should be.
Now you're stop-losses usually a multiplier of the ATR. It's best to do anywhere from one and a half to two times the ATR. So you would have A 70-point stop loss and it would show you your take profit right here in green as well as your Breakeven price, to cover the spread your entry price, and your stop-loss. All the things you're clearly laid out for you. So using this ATR indicator, along with the entire pick up Hunter sweet.
You have every single tool at your disposal that you need to enter your trades to exit your trade to find the momentum to do trailing stop loss. Has because as your positions going towards your, take profit level, you can actually hold that trade longer by knowing what the h e r is at that time and keeping your stop-loss going with the price as it goes. In that direction. Maintaining a multiplier of the ATR. This is why I absolutely love indicators. This is so much math and calculations and algorithm and pass price action.
Being analyzed in a split-second which you can't do and when you're trading and you see these big engulfing candles, you need to make that decision. And the only way to make that decision with confidence to not only knowing your technical analysis, but having these indicators give you Confluence. Multiple confluences, across moving averages, across atrs momentum indicators. All of the things that you need to know about that price action at that moment is given to you at a glance using these indicators. So time, both of these together RSI Divergence is the entire pip Hunter sweet as well as this ATR position calculator. It is going to give you absolutely lethal results.
If used with proper risk management. Now, that is one thing that I really need to stress you guys. So many new, traitors, get into the market and they think they're going to make millions and millions of dollars within a week or a month. And it doesn't work that way.
It will eventually get there with proper risk management. If you start your trading Journey with $100 account or $1,000 account, you need to have proper risk management. Only risking one to 2% / trade, shooting for that four to six percent profit level on each trade.
And over the course of a month, 6 months a year continually getting 6% or 4% profit on every single trade will get your thousand dollar trading account to a $50,000 account and it that point of 4% profitable trade on a $50,000 account, is $2,000 one trade to Grand. No full-time job is going to give you that and you can do this one trade and I don't know, a few minutes or a few hours proper risk management is going to get you to that level but knowing that you need to start small and grow there and have the page. Things to do so is extremely vital and the way that you have patience is journaling your trade, you need to make an Excel spreadsheet and you need to write down.
I am entering this trade at this time. This is the currency pair that I'm trading and this is the reason for my entry. Let the trade play out either let it hit your stop loss or let it hit your take profit and write down what happened during that trade and why it did or did not work out.
If you do that for every single trade at the end of the month, you'll see where you're struggling and you'll be able to fix it in the next month. But the only way to do that is to have a proper risk management, letting your trades play out and journaling, all of your traits, technical analysis is one thing knowing what the price is going to do is another thing, but not emotionally trading, being rules oriented for every single trait, using all of the indicators featured in this video. All of those things put together is going to make you a Profitable traitor. Now, not everybody, especially the ones that are starting out, they don't have the money to pay for indicators and that's completely fine. There are tons of free tools that I offer you in this video as well as the entire list of free indicators on trading.
The most new traitors needs support. This is why I built a Discord Community around this channel. I think there's over 16,000 people in there and they're all traitors helping each other answering questions asking questions being involved in a community sitting at your desk day, trading alone, every single day is extremely lonely. So, being in a trading, Community is extremely beneficial, not only for your psyche, to make you a better Trader over time.
You can join our free Discord Community, or you can join the perfect entry Discord Community, which is where you get all of the PIP Hunter indicator. Not only do they give you the plethora of seven different indicators. They also have a huge Discord Community categorized in every single aspect of trading as well. They're amazing admin team.
You guys have heard me talk about her. Chrissy is one of the best day traders that I've ever seen in my life. She doesn't ton of free videos on YouTube, which I will link down below.
She profit between 150 and $300,000 a month from her trading. She's teaching people because she knows how important it is to be able to make money consistently in your life and not have to focus on working for an employer for a job that I hate the other admin in perfect entry Brutus, is also an amazing Trader who also has a YouTube channel, describing all of the things that he teaches and inside that Discord group, once you buy the perfect entry package, you get access to every single chat Channel. You get access to every single tutorial way more than I described in this video on every single indicator, every single trading style as well as the free content for people that are unable to buy the package.
It doesn't matter. If you have the money to do it or not, you're still going to get the benefit by join both of these Brew. Having a group of friends and being a part of a community for trading is Extreme. It's completely changed my life.
That's how I started using pick hundred. It was two years ago. The first time I heard about this Hunter and I got into their community and I made friends, I made these bonds and I've been using pit punter for the last two years, in different aspects of my trading.
And I've narrowed it down to my favorite trading style and I use specific indicators, overlaid over my analysis. When looking at support and resistance levels to determine, whether I should enter that trade or not using indicators in the Confluence to your entry super grateful that I found them two years ago. And I'm super grateful now that I get to work with them as well as having my own community and having three indicators as well, as the paid indicators. Like, all of it together.
Both communities are highly net. You guys know this, there's constantly back-and-forth banter between the two groups. We've built something really nice here and I encourage everyone of you guys to step in and join the communities. There's going to be a link down below to both Discord. If you want to get the pick up, Hunter package in all of The Suite of 7, indicators, as well as access to Christy and Brutus and their live stream, which are every single week. Consistently teaching you how to trade, how to get better, and letting you ask questions to them personally and they're the ones you want to be learning from.
So when you join the perfect entry Discord group, they're just going to be a quick little verification process at the quick question to make sure that you're actually a human being. Then you get brought to the welcome page. And you can see these laughter of different channels in here. Some of them are lost for paid members to some of them are open free for the community to actually get the package.
On the third option down is the pricing and store. And right here is a link to perfect entry. Co.
Uk the indicator cost, 50 GBP Great British pounds because the company is based out of the UK. But if you have the money, it's well worth it for the amount of resources. Do you get the amount of indicators that you get in the access to these amazing Traders? And if you can't afford it, that's completely fine. Join my community and their Community for free, get some free indicators on your charts and get yourself profitable to the point where you can't, the more tools and resources you have at your disposal, the better trade or you're going to be one last thing that I want to say, there is no indicator on planet Earth, that is Standalone. You need to understand technical analysis.
You need to understand, Candlestick structure, you need to understand Market, support, and resistance levels. You need to understand all things associated with technical analysis, you need to drop all the lines that I had on my chart before I even discussed a single indicator, know that and master that. Then once you found your entry toss on your indicators, it will give you the Confluence and confidence to enter that trade and get your take profit level and or hold it longer depending on the momentum, there's always risk with day trading but the more Confluence and confidence. The risk is substantially less. So I know this video was long but it is basically the summary of the 90 videos that I have on this channel.
So I invite you to go watch any one of those videos get in that rabbit-hole of watching all of the content on this channel. And I promise you over time, you will become a better trailer than you are right now. And since you watch this video and you like this video, check out YouTube suggestion of what you should watch next right here.
And if you enjoyed this video and you learn something from it and you got some value out of it, consider subscribing to the channel by clicking this button right here. Thanks so much for watching and we will see you in the next one.
2021-07-29 02:26
