Pro Trader Report - Episode #1 (Support & Resistance Secrets)

"we said the first pair of the week is the pound dollar this pair is coming into a counter trend optimal trading zone otz as you can see we have multiple levels of resistance looking left around this zone that could cause the pound dollar to have a major counter trend pushed down at some point this week for that reason I will personally be looking for counter trend opportunities this week in the red zone only above illustration that red zone as you can see the resistance zone here was between one point three one seven five and one point three two six five"

"the market here dropping by 169 pips counter trend level here on the pound dollar OTC let's take a look at why we were interested in this level in the first place why we were interested in the optimal trading zone and we'll talk a little more about the pro trader report in just a little bit as well but this optimal trading zone is in play because we went out to a very hot timeframe for us that's a daily chart very hot can be subjective you can think very high is weekly or monthly charts depending on what type of trader you are we place most of our trades here at the trading channel only for our chart and for that reason our higher time premium is the daily chart so on this daily chart we found a level in the market that had been tested as resistance multiple times we created the zone out of this level that have been tested as support and resistance from multiple times as you can see here and after creating that zone we decided that if we're looking for counter trend opportunities which this was on the 4 hour timeframe then our otz our optimal trading zone for counter trend opportunities would be between one point three one seven five and one point three two six five"

"before we were looking at this zone we had just pushed up into it expecting this major pushed down of at least 100 pips which ended up being a hundred sixty nine pips here on the pound dollar and once we got there the market did exactly what we expected and since then pushed down well over 100 pips from that zone"

"on the New Zealand dollar we said that we were coming up into an optimal trading zone which we'll talk about in just a second the New Zealand dollar if we look left on this pair you can see that this zone we have highlighted in red has acted as support and resistance many times in the past this indicates that we could see it act as resistance once again the New Zealand dollar is currently entering a zone that I consider to be a good zone to look for possible short trade so personally throughout the week I will be looking for short trades in this area of the area 0.6859 to 0.6907"

"once hit though did in fact push the market down and we normally look for about a 100 pip pushed down from these levels this currently has only pushed down about 58 pips so really expecting this market to continue to push down at least to our next optimal trading zone which is right around this most previous level of resistance at 0.6797"

"that's an area we'll be looking for possible long trades out of the New Zealand dollar this will be our next optimal trading zone and in case you're wondering pro trader report gang this will be on the next otz pro trader report whenever we come out with it next week if the market doesn't get there within this week"

"the zones of resistance were one point six six eight eight and one point six seven four - between that area we were looking for possible short trades and the support zone one point six five six - and one point six five nine three"

"now we're at the top of the zone and currently looking for possible short trading opportunities on the euro/usd and from our optimal trading zone and the same reasoning behind this one this one was actually a nice trend continuation play we have a market that started pushing down we have more than a three push down move what do I mean by that we have our first leg second leg three leg down that is putting us into what we consider a downtrend here on the year in New Zealand and now we're starting to push back up coming into our otz for an optimal trading zone trend continuation play and that's what we'll be doing down on a lower timeframe is looking for possible trades here"

"and if we do push down we'll wait for this market to get around our next otz for possible targets and for a possible push up out of this market"

"lastly a look at the dollar Swiss this pair has just broken above resistance area and we are hoping to see a reversal into an uptrend on this pair I player to take advantage of this reversal from the highlighted green box this is a zone that has shown some importance looking left acting as support and resistance so if the market makes it to this area this week then I'll be looking for trend continuation opportunities out of this zone so there's almost between 0.9886 and 0.9909"

"this pair came into the zone rather quickly I'll zoom out to the daily chart first we came right into the top part of that zone a 0.9 909 and as soon as we made it into that zone we pushed up a little over 30 40 pips this pair actually has a really low ATR so we weren't expecting quite a 100 pip bounce out of this area but this is a trinket innovation play and we currently still expect this to make new higher highs out of the dollar Swiss"