Master These Simple Reversal Entries To Become A Top 5% Trader (3 Must-Know Entries For All Traders)
Published: 2020-08-29
Status:
Available
|
Analyzed
Published: 2020-08-29
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The presenter believes that their full trading course is too extensive to be released entirely on YouTube.
"i'll put that entire map on youtube because the course is hours and hours long"
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The presenter plans to provide a comprehensive breakdown of their rules-based trading system and strategy.
"the third thing i'm going to do is break down the entire rules-based system and strategy to you"
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The presenter will detail the precise rules for specific trading patterns.
"the first part of the video i'm going to show you exact rules"
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The presenter will analyze two live trades executed using their established strategies and systems.
"the second thing i'm going to do is go ahead and go through two live trades i took last week using the exact same strategies and systems"
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The presenter is moving on to discuss the next trading pattern after detailing the head and shoulders pattern.
"the first pattern i wanted to take a look at next up let's take a look at the next pattern i'll see you in just a second"
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The presenter will now explain the inverted head and shoulders trading pattern.
"the next pattern we're taking a look at is the inverted head and shoulders meaning the opposite of what we just looked at"
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The presenter considers double bottoms and double tops highly accurate patterns, used in 90% of their price action trades, alongside head and shoulders patterns.
"the next pattern we're taking a look at is the double bottom and as simple as this is going to be and as simple as a double bottom and double top pattern r this is one of the most accurate ways i've found a trade this alongside with the head and shoulders and inverted head and shoulders are what i use on 90 of my price action trades"
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The presenter is about to discuss the double top trading pattern.
"let's take a look at double tops though right now"
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The presenter aims to save viewers time and effort by sharing proven trading methods, avoiding extensive personal testing.
"i'm going to show you three things the purpose of these three things is to keep you from having to spend hundreds of hours testing thousands of trades save you time and energy so you can start off by testing and trading based on ways that already work that i've personally already tested"
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The presenter will present three key elements in the video.
"i'm going to do this by showing you three things in this video"
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The presenter's trading strategy is currently in use and is considered one of their most accurate methods.
"this strategy is a strategy that he still uses to this day this is a strategy i still use to this day and it's one of my most accurate ways of trading"
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The presenter's guide provides objective rules for price action reversal patterns, suitable for traders of all levels.
"this is supposed to be a guide for beginners intermediates and advanced traders so that you have objective rules in order to define these price action reversal patterns"
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The presenter emphasizes trading patterns in specific areas with consistent rules to gain a market edge.
"trade these in very specific areas that give an edge over the market with this consistent set of rules that i'm going to show you in just a second"
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The presenter advises against trading patterns in isolation, recommending their use at significant market structure levels (areas of value).
"don't trade these patterns absolutely by themselves all the time what you want to be doing is finding areas of value in the market as in previous levels of major structure and using these types of pattern in those areas"
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The presenter stresses the importance of having fixed rules for trading at key structure levels before considering any pattern, especially price action ones.
"make sure you have set in stone rules for levels of structure that are important areas of value the market is likely to reverse in before you even decide to possibly place a trade based on any pattern especially price action patterns like this"
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After combining elements into a strategy, traders should test it to determine if it fits their trading plan.
"and once you have all of those things combined into a strategy it's time to test it see if you want to make it a part of your trading plan"
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Achieving trading consistency and professionalism involves extensive testing, discipline, risk management, and proper expectation setting.
"i learned how to actually create consistency in my trading and how to become a professional trader throughout the process of testing thousands and thousands of trades throughout the process of learning the importance of discipline the importance of risk management and learning how to have the proper expectations"
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The EAP training program offers a comprehensive course detailing the presenter's daily trading strategies.
"inside the eap training program i'll put some testimonials up on the screen of traders who have already been through the program and found it valuable but inside of that program what you're going to receive is a full training course that teaches you the strategies i'm using on a day-to-day basis"
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Subscribers to the EAP program will receive 3-5 weekly email analyses.
"you'll also be receiving three to five email analysis per week"
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The EAP program includes a 60-day money-back guarantee.
"the program comes with a 60-day money-back guarantee"
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The rules for identifying a head and shoulders pattern involve waiting for a push-up after a downtrend, followed by a green candle to define a zone between the first shoulder's body and the head's highest body.
"my rules for this i'm going to go really slowly here and this is the time you might want to bring out a pad in a pen so you can keep up with this information as the video continues so my rules once we have this in place we have our push-up our first shoulder our head and we've pushed back down i wait to see a push back up as soon as i see a green candle pushing back up what i do is map out a zone this zone is from the body of our first shoulder to the body of our head the highest body of these candles"
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For a head and shoulders pattern, the termination zone is identified, and entry confirmation is a red candle, provided the market touches the zone but does not exceed its upper limit.
"the termination zone for my head and shoulders pattern is in my red zone right here let's see what happens as we push up into this zone what i want to see is candles touching the zone as we are right now but not going and touching the top of the zone so the termination point again is right here and what i want to see in this termination point this is how i spot head and shoulders patterns and the way that i spot my entry is just a red candle you see i already have my pattern created here this in fact is a head and shoulders pattern but i want to see confirmation that this head and shoulders pattern will push the market down and that confirmation for me is a red candle"
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Trades for head and shoulders patterns involve placing a stop-loss above the head and aiming for at least a 1:1 risk-reward ratio.
"i will then have a stop loss that's just above the head of my head and shoulders pattern this is breaking into the how how am i going to trade this pattern it's just like this i want a risk reward of at least a one-to-one risk reward"
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The termination zone for an inverted head and shoulders pattern is defined by the area between the lowest bodies of the first shoulder and the head.
"on an inverted head and shoulders what we're looking at is the area between the lowest bodies of the first shoulder and the lowest bodies of the head of this head and shoulders pattern so with that being the case this would be our termination zone"
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Confirmation of an inverted head and shoulders pattern is a green candle, indicating a potential market reversal upwards.
"and then give me a green candle to show me confirmation that this head and shoulders pattern could take this market higher could take us into a reversal considering the previous trend of the market"
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Trading inverted head and shoulders patterns involves a stop-loss below the head and a target based on at least a 1:1 risk-reward ratio, potentially extended to structure levels.
"we would have a stop loss below the head of the pattern we would have a target at at least a one to one risk reward you can place base targets on structure that would give a 2.25"
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A double bottom pattern requires observing two green candles during the upward push after the first bottom.
"i need to see two green candles pushing back up for a double bottom"
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The termination zone for a double bottom pattern is where a candle touches the body of the pattern but does not close below the initial bottom's low.
"for a termination zone with my double bottoms what i look for is a candle that at least touches the body of our double bottom but does not close below the low of the first bottom"
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A green candle serves as confirmation for a double bottom pattern, signaling a potential upward market push and reversal.
"and then give me a green candle to tell me that this double bottom could push the market higher in this reversal"
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For double bottom trades, the stop-loss is placed below the pattern's low, with targets set at previous structure levels.
"my stop-loss would go below the low of this double bottom my target and this specific case would probably be up at the previous level of structure"
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The termination zone for a double top pattern is identified by the highest bodies and highest highs of the first top.
"we have the highest bodies of that first stop right here we have the highest highs of that first stop right here meaning that we have a termination zone right here"
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A double top pattern is invalidated for a short trade if a candle body closes above the previous top's wick, indicating trend continuation.
"the only thing we cannot have is a body of a candle closing above this top wick and the reason is because that signifies trend continuation and we don't want to be going short if the market's likely to continue in this trend"
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Confirmation for a double top pattern is signaled by a red candle.
"i have to wait on that confirmation the way i do that is just by waiting on a red candle"
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Double top trades involve placing a stop-loss above the pattern's high and setting a target near the previous structure level.
"put a stop loss just above the previous high over here the high of my double top and put a target somewhere near the previous level of structure"
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The presenter states that price action patterns are most effective when occurring at major structure levels on higher time frames.
"these patterns work best at higher time frame levels of major structure"
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When trading on a 15-minute chart, the presenter zooms out to the four-hour chart to identify significant structure levels.
"if i'm trading and my trading time frame like for instance what we just did is on the 15-minute chart then i'm going to zoom out to the four hour chart in order to see if i have structure"
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The presenter refers to a previous video on structure levels, linked in the top right corner, for viewers to learn how to identify trading zones.
"i do have a video i recorded last week on this exact subject and i was doing these in sequence on purpose so that you can go to that video which will be linked in the top right hand corner of this screen go to that video check that video out to understand how i find these specific zones in order to trade the entries i just shared with you inside of"
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The presenter advises viewers to test the strategy to ensure it provides a market edge before incorporating it into their trading plan.
"don't go out and use this either this is something you need to test make sure that you can find a way to make it provide an edge over the market and then you need to decide whether or not you want to add this to your trading plan based on your testing results"
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The presenter revisits the Euro Pound 15-minute chart trade, encouraging viewers to analyze it.
"the euro pound 15 minute chart yet again for about a third time in this video but what we're looking at here is that euro pound trade you saw me take live and what i want you to do is walk yourself through this trade right now as you look at the chart"
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The target for the Euro Pound trade was adjusted from a 1.4:1 to a 2:1 risk-reward ratio due to supporting structure.
"i ended up moving the target from a one point four to one risk reward down to a two to one risk reward because it had a little more structure that was supporting it there"
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The Euro Pound trade eventually reached its target, despite a period of consolidation.
"eventually though we did in fact push down to hit the targets"
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The presenter identified a major resistance level on the 4-hour chart (tested three times) as a zone where they would anticipate a price action pattern for a potential downtrend on the Euro Pound.
"as this market was pushing up what i was actually doing is looking left placing my horizontal line at the previous level of major resistance for this market and asking myself if it was tested multiple times we have one two three tests of this level so i knew if the market got to this level i would definitely be looking for a price action pattern that could possibly push the market down"
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The presenter is about to enter a live trade on the Aussie Canadian, based on a perceived double bottom.
"we're looking at the aussie candidate right now i'm looking at this double bottom move we have right here i'm gonna go ahead and open a trade live with you guys"
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The Aussie Canada trade discussed was executed on a one-hour chart.
"this specific trade was based on a one-hour chart"
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The presenter exited the Aussie Canada trade for a 3.5:1 risk-reward ratio due to observed selling pressure.
"i actually saw some selling pressure and decided to exit the trade for a 3.5 to 1 risk reward on this specific trade here on the aussie canada"
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An analysis of the Aussie Canada trade was sent out via email to program members for potential capitalization or learning.
"the trade you see on the aussie canada that's on the screen right now i'll put a screenshot up i sent this trade out in email analysis in order for other traders to either be able to capitalize on it if it's something in their trading plan or learn from it"
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The presenter experienced significant struggles and consistent losses for over a year at the start of their trading career.
"i struggled like crazy in the beginning of my trading career over a year passed while i was just consistently losing money and had no idea what i was doing"
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The Euro Pound trade involved a significant period of consolidation, making it difficult to remain in the trade.
"this is one of those trades it was hard to stay in"
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