#dannyg

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Nashville flow-pop artist danny G just released his new album "Quarantine Tapes". The Hollywood Tribune interviewed @dannygofficial1 about "Quarantine Tapes" and reviewed "Lucky", one of the songs in the new album. Read the Feature article on our website using the link in our bio🔥 . #dannyg #flowpop #hiphop #rap #lofi #thehollywoodtribune #tht #instanews #instagood #news #music #musician https://www.instagram.com/p/CAx2LWjAZVO/?igshid=1tyghjyykh4t

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\\\\ STAR LIGHT ///// by Danny Mac https://ift.tt/2BsF8tR

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Learn Forex Trading: How to Identify Impulse Legs & Trade the CYPHER pattern

you you hey traders welcome to Forex insider view this is Danny G from the alcove FX and before we get started I just want to let you know thank you guys for all the support thank you guys for everything it's been amazing these past few weeks how everything has been going so just thank you guys to you before we start the video make sure to LIKE follow subscribe everything because we're going to be coming out with some really cool content in the next few days and I want you guys to be a part of it so guys today we're going to go over something really cool we're going to be going over the cipher pattern and I'm going to be giving you guys my specific rules that I use I was trying to hold off on this and not really do it unless you guys want to maybe one of the memberships or programs that we had and the reason is I think that you guys would get more value from it if you guys actually pay for and the reason is that a lot of traders and I know it's not going to be every single one of you but many new traders are looking for the Holy Grail you're looking for what a proven trader is already doing you want to grab this strategy grab those rules apply it to yourself and you'll become a millionaire and the truth is so that many of these rules that we've come upon we've done it because we've done our testing you know there's a few different rules that I use in my cypher pattern versus other traders and the reason is because I've realized that it's better for me in my back testing and my forward testing and other traders as well and another point is that you will get the strategy you will use it you maybe get a few winners or you'll probably get a few losers and you're like oh this isn't what I expected I was expecting this to be you know just a win win win after win and then you just kind of move on to something else and I think that when someone decides to you know I'm going to get into this program I want to learn this right I'm going to pay for this there's a little bit more persistence that comes with that and I think that that's pretty valuable but right I know that many of you that are listening many of you that are following are loyal followers or lawyer subscribers and I want to give something to you guys that many of you I know will put to good use so I'm going to teach you guys the cypher pattern in the best way possible that I can so make sure to grab your notes make sure to grab your papers because we're going to be going over a few rules and I want you guys to to follow them and real apply them the best way possible so let's go ahead and take a look at the markets right look at the charts now there's the pattern in here right and I want you guys to be able to see if you can identify it I'm going to show you guys if you want screenshot it right and then we'll come back to this later on and right now what I'm going to do is that I'm going to come over here to this blank part so I can start showing you guys how we would start identifying this then we're going to come back over here and then we're going to look at it and draw it out right so the first thing to understand about patterns right is that they're they're just Fibonacci ratios they're sequences of Fibonacci ratios in other words we need to hit one specific Fibonacci ratio or in to be a range between specific Fibonacci ratios in order for the next one to be valid and we'll go ahead and we'll start with the x leg right and we'll go ahead and go and identifying the x leg right if we come back over here identifying the X leg it's kind of like it's kind of like finding a major level of support or resistance it sticks out like a sore thumb right we can see that the price made a big move after that candlestick oh we can see that price started to move pretty heavily after there we can stick on a stick out and we can see well where is it where would be the impulsive moves here Danny well right off right off the bat I would see this move right over here right I would see this move over here right I would see this move over here and that would be pretty much and then I would see this move right over here and you can tell that what I'm looking at right price made a big move after that retrace and continued forward price made a big move or tracing it's a new foe or price made a big move for trade price made a big move for trace and continue moving forward these are the ones that kind of stick out to me as like okay these are some levels that I'd be looking at to be drawing out some patterns from right so this can give you guys a little tip as in to where the pattern is going to be and keep in mind we're looking for a cypher pattern right so the next thing that we're going to be looking at right once we've identified our X like this is what we're going to start and we're going to draw this out right until price so we're going to let's say that we want to use this level right so we're going to draw this out right all the way up to this point and then we're going to measuring that retracement right we're going to start to see okay where did price retrace to and the way that we're going to do them is by getting a tool called the fibonacci retracement okay the fibonacci retracement comes in almost all metatrader4 platforms comes in all metatrader4 platforms right and on mostly I think over every platform we're going to go ahead and grab this and we're going to measure from the lowest low right not too close but the lowest low and if you guys don't know right I'm gonna go ahead and zoom in for the new new traders that maybe you guys don't know let me just get a good candlestick that's kind of on its own I guess are let's zoom in over here alright so then okay let's use this candle right over here this would be the close right this part right over here this would be the open right this is the low that and this is the high all right so this is the highest that it went in this candlestick this is the lowest that one in this candlestick this is where price open and this is where price closed now on a bearish candle this is where we opened right and this is where we closed so we open and we close lower than we open and then in a bullish candle we open and we close higher than we had open okay so now we're going to come back over here and we're going to use the lowest low and the highest high okay so then we're going to grab our Fibonacci retracement and we're going to go ahead and pull this and then we're going to see where price retraced to so we have a firt we have a few rules for the cypher pattern for our B Point right so let's start measuring that let's start writing this out X X right over here right is going to be our beginning point this is going to be our a point all right and then what we're looking for is our B leg right so what price needs to do is that it needs to retrace and then needs to at least touch this 382 right over here it needs to at least touch it so let's go ahead and write this down B must at least touch the 382 right so let's go ahead and put this right over here sorry B must at least touch the 382 you know what I need to put this let's put it a little bit smaller because it's going to be a few more coming up all right B must at least touch the 382 what's the next rule right well it needs to close above the six one eight so we already went over how the candlestick works right the four points of the candle hat so it needs to at least touch this and it needs to close above the six points so if price closes below the six one eight we're looking for a completely different pattern right we're not looking for a cypher at least we're not looking for my cypher then I'm going to teach you guys B you must close above the six one eight right so it needs to at least close above the six twenty and there's one more rule that not everyone uses but I use and it is that B must not touch the 786 okay so B can touch and needs to at least touch the 382 it needs to close above the six one eight and it cannot touch the 786 so if you have a long wig right and it closes above the six one eight at least touch the 382 right but it touches the 786 we're not looking for that pattern anymore okay so it needs to stay within this range right the clothes needs to stay within this range it doesn't matter for this that if the low was coming over here it doesn't matter if the low comes within a pip of the 786 it just can't touch it right so that's going to be our B like let's go ahead and put this over here B then for our C leg right we're going to use a different tool called the Fibonacci extension right now the Fibonacci extension is very similar to the retracement however it doesn't measure a retracement it measures a continuation forward right and every platform should have this if you're trading a platform that doesn't you need to get on another platform okay and what we're going to do is that we're going to measure the extension of our X to a okay and we have some rules for this too so let's go ahead and start writing this out so the rules is C must touch the one point two seven two extension alright so for our C leg to be valid right from here it needs to at least touch the one two seven two extension okay so I was like what like we were talking about in the 382 right just let me open this up a little bit more all right if it doesn't touch it's not a valid pattern it needs to at least touch it the next rule is C must close below the 1/4 1/4 and this is actually so on a bullish pattern right which this is what we're going over it needs to close below and on a bearish pattern it needs to close above right and I'll show you guys why if you don't get it right now but let's just go over and finish the bullish pattern and then I'll explain to you guys the close above and below for a bearish pattern right so it must close below the one form 4 and that's over here so price can go really anywhere between this range it just needs to close below the 1/4 1/4 all right and then you can actually add another rule to this is like for example how I have do not touch the 786 you can also add another rule which I don't have it because it doesn't really happen often actually it hasn't happened since I've been trading it but you can also put C must not touch the 1 6 1 8 because what will happen is if price does give you that wick right well you need to draw out when we're going to go over the d completion but if you have a long walk wick that touches the 1 6 1 8 then it's going to skew your risk to reward because what you're going to do is you're going to be drawing your d completion off of the retracement of X to C right so the higher it is the higher your 786 for trace Minh is the farther it is from X right the worst risk to award you're going to get so it must not touch the six one eight that's if you want to really doesn't happen but if it does happen you want to be prepared for that right so we have these rules so we know where C must go and then D is very very simple D is going to be the 786 retracement I'm sorry here D will be the 786 retracement of our X to C leg so let's go ahead and put our C over here C right and then D let's go ahead and Pardee like right over here okay so our D leg our D completion level must be the 786 of the lowest low of X to the highest high of C all right almost on the money I'm going to go ahead and put this right over here and then this is where our D completion will be right so let's go ahead and write this D the completes at the 786 retracement of X to C ok so then that's going to be the rules ooh that's going to be okay that's going to be the rules for the cipher pattern now it's very simple probably for new traders going to be a little confusing right but all it is they're just Fibonacci ratios determining these legs right or these points that we're going to be looking at and then once we get to D this is what we're going to buy right and we're going to buy right over here and our stops are going to go below X so this is where the or stops need to go at least below X right you can use 10 pips you can use 15 pips you can use 20 pips I don't like using fixed pips because it's not dynamic all right it's not it's not showing you guys based off of how the market moves is just giving you you know 10 20 pips and sometimes right them it could be a big pattern and 10 pips is not enough so you're going to get stopped out and just you know getting your lunch money taken away every single day what I like to use is I like to use the Fibonacci inversion right so what I use for my stop loss so you guys know is that I use an inversion from C to X right so I'll measure basically an inversion is just an extension but backwards right so I'll use it from the highest point of the leg from the highest point of the pattern to the lowest point of the pattern and I use the one 202 5 which is usually a one and a half eight er all right so I'll go ahead and put that right over here this is where my stop loss would go this is where I'm gonna let me remove this right is where my stop loss would go and then my targets are going to be the 382 retracement of the C to D completion level so our targets are going to be right over here let me draw this out this is going to be our D there's going to be our stop loss I know you're asking yourself well you know man that's an inverted risk to reward ratio and it is ciphers do tend to have an inverted risk reward ratio some people what they do is that if they have a once if they don't have a one-to-one the way to enter until they at least have a one-to-one right some people take the inverted a risk to reward like I do because it has a higher win ratio I'm in the middle right now of testing some variables on the same pattern to see what can give me the best risk reward and the highest win percentage but right now since we haven't finalized any testing I'm not going to release anything until we have so all right our targets are going to be the 382 right over here let me go ahead and change this color to green for money and then our targets too are going to be the 6 1 8 retracement right over here so we're going to break this up into two contracts – if you're trading a mini lot then you'd break this into 5 micro Lots and that's how you would trade that this is will be your stop-loss you can use the smaller stop-loss you can use a larger stop-loss whatever you whatever stop-loss you want to use just make sure to test it don't just trade it because I'm trading a demonstrator because you heard about it you may want to make sure that you test it to see and not just that but it gives you historical perspective and then it also helps you when you're in the middle of a trade and you back tested this strategy you know and you've seen it will play out hundreds of times you'll you'll kind of feel a little bit more confident than trade and you won't be trying to get out the moment price goes against you and here's one other thing that I need to mention to you guys it's pretty important when price comes down to your D completion level sometimes it will hit it and immediately reverse right sometimes those are the glory days right when that happens but usually what will happen is that price will retrace a little bit further right sometimes will retrace sometimes will come close to our x legs sometimes will come close to our stop loss and what you need to do is that you need to follow this retracement down with price now I know I know that excuse your risk to reward even more and I know that some people might not like this the cypher patter may not be the pattern for you right but if you want to properly measure the retracement of price you need to follow price after that D completion or not you're not measuring anything right what you're measuring is a hypothetical but you're not measuring what price is actually doing so you need to follow price as it's going down look further right so what that happens that that like I said it's going to skew your risk to reward right but that that that's accounted in your back testing and if you actually have a positive expectancy by doing that then it doesn't matter okay so these are the rules for the cypher now let's go ahead and take a look at the price over here all right and let's see if you guys can spot it now that I've told you now that I've given you guys these rules right I'll give you guys a little bit and we'll see so wait you can pause it but let's see if you guys can pull it out okay so giving you guys enough time what we're going to do right is that we're going to start seeing okay well where would price where would where would that cipher exist we're going to go ahead and pull a retracement from this hello to that high and what did it do right such the 382 retracement right over here alright and let's check something let's see if we touch the one two seven two extension over here boom and price touch the – seven – extension so what we get we draw this out right over here this is what this would look like boom x – x – a A to B B to C and then a C – D completion I'm gonna guess right around over here all right let's see let's see if Danny G is on the money Oh close but not close enough Danny not close enough right so this is what a cypher would look like in this patent this chart time frame pair whatever you want to call it you guys want right take a screenshot of this because I'm about to delete it five four three oh three two and one so this is what it would look like let's go ahead and load up the the indicator right which does that for you automatically and that's what a cipher pattern would look like guys I hope that you guys were able to actually learn from this I heard I hope that it was simple I hope that it made sense and if you guys liked more of this I'm gonna be showing you guys the bat pattern I'm gonna be showing you guys the Gartley pattern and I'm also working on another pattern that I'm not gonna take that I'm not what is it I'm not going to pull the curtains on it yet but I am working on another pattern and I think it's going to be pretty pretty exciting so if you guys like what you saw make sure to like follow subscribe leave a comment let me know if you liked it let me know if you did it in the polite way share it everything because like I said we're gonna be coming out with some really cool content and I want you guys to be a part of it so with that being said good luck good trading and I'll see you guys for different names we would build a rocket ship and then we'd fly follow this dream about us now the laughing agri-food saying wake up you need to make money

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Learn Forex Trading: Harmonic Patterns

get everything set up for you guys today it's gonna be a little bit more of a chart day what's up f dump 101 what's up Carl black underscore I guess like I said give me a second guys I mean what's up good Virg I'm gonna get the stand ready or not the stand that harmonic scanner though yes sir I'm going to get everything ready for you guys hello how you doing sorry guys I like I said I used to have a stand what's up oh thank you for the thank you for invite what's up I am success I like I like the name I like the name how much about it do we have we have 21% I guess we can do it right but or can we do it like that I think we could do that are equal it's being charged as we speak sup Jake Coleman r blah alright guys I hope you guys can see that good let me see if I can hope that's good enough right alright what's up guys that share the feed get a few more people in here guys I want to we actually have a few patterns at market and I got to change my user in pain is that the liberator know this is actually constellation let me open up a start on Aussie dollar and then what kind of wave like I said we'll wait for a few more people that's yes sir let's share the feed guys and get some people in here guys I want to show you guys a few patterns that are in market and basically how for those that are trading patterns some ideas on how you guys can trade multiple patterns because you guys see these and you're like man well which one should I take what should I do is there any better one what's the one that I should take and what's up mister okey okey on the house and you know basically guys you guys can go about this in many different ways me personally I'd like to go for the better risk to reward for example Keo likes to go for the first pattern that comes I think that's what I heard Danny deed thank you brother I think Akhil told me that he that he likes to take the first pattern so it's really it's really up to how you want what I would personally suggest is do what you feel comfortable doing with you don't want to be doing something that you don't feel comfortable doing if you you know for example when I feel like when I first got started and I saw all those patterns I would get freaked out because I was like man you know what do I do and after a while it starts to get it starts to get better and you start to kind of get a feel for it but I just kind of want to go over a few of these because we do have some of these remind you guys this is all on the daily right now on the on the hour we don't have much on the hour one which is the trading time frame none of these patterns by the way that I'm gonna be showing you guys I will personally be taking since they are on the daily now if I can find a reason for entry on the hour one in conjunction with these patterns then yeah sure but I'm not gonna be taking it solely on the patterns not because they're bad or nothing is just that I don't trade on the daily and that's just one of the rules that I have if you guys trade on the daily yes actually it's all say that I'm looking at if you guys trade on the daily then by all means just make sure that you guys for those that have smaller accounts make sure that you guys are accounting for the risk that you would be involved in so let's go ahead and get started guys this is all $2.00 we have it at market bat right now all the time it's it's slightly above at market tell you right now how many pips it is above market let's see we're 27 pips above market but if it does come back down then you guys could look for getting in on this like I said me personally I like taking the better the risk to reward so if I was you or if I was trading on the daily we're not be looking to take this Gartley down here at 7018 right it's gonna be providing me the best risk to reward not that I have anything against paths or or anything it's just that like I said it provides me the best to risk to reward I'm not exposed to too much great risk to rewards so definitely why not but for those that do trade the first pattern or for those that trade bats over any other pattern then like I said you guys do have something at market right now at 1757 if it goes back down then you guys could get in if not then you can just kind of wave at it as it cuz it goes up or it can go down it really we really don't know at this point next we have I think it's dollar yen we load that up dollar yen like I said we also do have another bat market at a hundred and eighteen seventy or 118 seven seventy and this one's actually under so you guys this one is at market you guys could get in on this I'm sorry I didn't see what you said guys by the way since my phone is on the stand I can't really see the comments so if you guys are asking questions then I'm sorry I'm not let me see if I can move it a little bit forward just in case so I can see them alright so we have a few patterns here right guys and when you guys see this you could be like okay you know what should I do right well you guys can do a variety of things me personally right I would take this pattern I would take my targets off for the 382 and then I would ride this baby up back to 120 423 I mean it's really up to you you can take it at the 382 and then you could take your second targets at the 61 point 8 and then just you know basically get in short at 1 24 23 is a new order or at a 1 25 33 completely up to you you could wait for the cipher at 117 74 and you can get in on that but like I said I personally like the better risk to reward so I'm always gonna take the pattern that has the best risk to reward over just because you know it's oversold or any other reason and that's how I trade on the hour one like I said this is the daily so I'm not taking any of these patterns I'm just showing it to you guys because we do have a few patterns that are setting up and when it starts to get like this and you guys are drawing them out this is dollar yen this is all again on the daily chart when it starts to get like this you know it could get a little confusing it could get a little intimidating you might not know what to do but just stay calm if anything what you guys could do too is you guys could just delete them right or don't you don't have to have them all drawn out you can also just kind of draw out hey look when the price gets around this zone then I'm gonna be look then I then I'll put the pattern back on because that way when you see all of this one it actually kind of blurs a little bit of price action too but like I said it's a little intimidating because you don't really know what to do you're like whoa I can get in here I can get in there I can get in there I can get him down over here and like I said for those that are new for those that are starting to trade patterns it could actually cause more confusion than clarity when you guys are trading these so like I said we have at market back at one 1870 we have a cipher at 117 74 if market continues to go lower and then we can ride these babies up to the bats that we have over here and then this Gartley at 125 83 now the other mark the other patterns that I do have are on euro dollar dollar Swiss euro yen and pound New Zealand now those aren't close I'm gonna show them to you guys just because they might get to the entry point that we're looking at but it's too young right now to tell and I'll load them up so you guys can see but we do have a bat that's going to be completing at 113 83 if we looked at it's a good risk to reward so it looks like a pretty clean pattern the market can continue just to go lower or it can go to the entry point and if it does then we'll be looking for a short at that area euro USD has a baton Daly yes it does that's the one we're looking at Soho so yeah so that's the the bat that we have on dollar Swiss let's load that up we do have a few patterns over here setting up two bats at 96 39 and 93 79 so let's go ahead and well I'll go back and then we'll load it up and we'll we'll check it sometimes constellation misses a few but like I said we do have a few patterns here me personally if I was looking at this I would measure it out and see hey which one's gonna give me the better reward they're both bats from eyeballing it right now from what I'm seeing I do think that the second bat does have a little better risk to reward but I would have to measure it and be exact with you guys before telling you but that's just the way that I would take it some people could you could also take both of them you could also if your stops are above the entry on the second pattern then you can take both you can take this one and then if you get stopped out then you can take the second one too it doesn't you don't just have to take one when I suggest taking one is one your stops are below the entry of the second one in other words I'd say well we'll look right let's say if you're using a 1 a 1 13 stop let me do this right here so you guys can see maybe we have we are yeah in this case oh it's it's uh it's gray and then this is the BAM I know you guys can't see it okay so in this case right so in this case I would suggest doing one if you guys stop down on both then I mean it is what it is you just move on and you continue doing the same and then you just go on to the next patterns but in this case right this stops if using a 1:13 right your stops would be below the entry or the D completion of the second bat so in this case you would have to choose one if you want to you can still take both but I would highly recommend just taking one or no I can't say that right because this is the finance industry you can't recommend anything or give any advice so just do as you guys please but um but know if you guys are if your stops are below the entry then no they're not would suggest taking one now let's say your stops was over here just for example right for argument's sake if your stops over here then you'll get stopped out and then you'll just enter right here at ninety three seventy nine like if nothing ever happened stops in the same place targets in the same place and then you just continue to move on forward if it's a winner to win over to loser it's a loser what is it winner winner chicken dinner I think it is that a kill says but um I mean yeah the next one we have is on euro yen just load that up BAM right you have a cipher here at 136 43 a bearish cypher so like I said this looks like it's gonna continue to go lower I don't expect it to go back up to 136 43 but if it does then we do have a shorting opportunity over there we are very very far away so and right now we just said the C point where we're creating the C point so if I'm sorry I had a bug there I don't like bugs but but if the market does go back up like I said we are looking at a short at 136 43 guys and I know these patterns are far from completing but I just want to show them to you because you know patterns do give you a lot of opportunities in the market for you guys and it's very simple it's very clear and concise hey this is where I get short this is where I get long this is where my targets are this is where my stops are that's it there's no questions asked there's no well if price I mean you can do it you can make filters for that but the way that this has been tested the way that I've tested it I've tested it recive entry at the d– completion and it's given me a lot of pips so i'm not gonna change it i'm not gonna do anything else and that's kind of how i want to do it and then we have a last pattern it's constellation on Metatrader or trading view it's on meta trader i don't think it's on trading view last that i know it's not on trading you but you can use it on ninja trader and meta trader and then pound new zealand is the last one let's go ahead and load that up we have another cipher completing at 2:43 24 now like i said we did get a little pop here at the sea leg if we can rally back up to 240 324 and then we'll be looking for a short at that level now like i said i mean we could probably just hit this level right over here and continue to go back short but if the market does decide to go back up then we'll be looking for a short there so that's what we have for soda net 4 for right now guys what I would recommend is that you know right now if you guys don't have a trading plan then don't trade anything that I just showed you this is for the people there's a few people that trade already and they're trading harmonics and and they just kind of like to see other traders looking at these same patterns right so like that it kind of reassures them and so something may be missed it they oh man you know I didn't I didn't forgot to check that or or my dad is a little bit different whatever the case is but I like showing them to you if you do not have a solid trading plan if you do not trade harmonics right or if you don't have any any ratios that you've actually tested I would definitely recommend don't be trading them I would test the ratios because what your cipher is might be different than my cipher right I trade very specific ratios right what you'll see online if you look up what are the ratios for a Gartley I'm sure that what you're gonna find is gonna be completely different than the ratios that I trade so maybe the results that you've had by trading guard Lee's is gonna be very different than the results that I've had about trading garlic so what I would recommend before you just look up any ratios and say hey I'm gonna trade this back test those ratios and see hey if I trade these specific set of ratios will this yield me a profit over a year two years three years four years however long you want to test if it does then start forward testing that and making sure that it does work in real time and then once that then you can start applying real capital to that but don't just look at the ratios all right cool I'm gonna trade that because Danny's trading that because the keel trades that you know you don't want to do that guys that's the fastest way to go broke where you just find any strategy you start trading him and then if you make a few winners and you stick to it for like a week and then once you start losing then you switch and you go to something else you definitely and and guys when you guys back to something you know you have a lot of hours of commitment in doing that and you tend to stick more to your strategy right when you've put in like 40 hours of work into finding out if this strategy actually works and you're gonna be like you know when you're trading it man you know I put a little how to work I'm gonna make sure that I stick to this rather than just finding a strategy out on the streets or out on the Google on the interwebs and just trading that because you think that that's gonna make your profit and guys another thing right before we cut it off actually we're gonna start doing 15-minute periscopes instead of thirty and forty whatever it is I don't want to make it too long the last thing that I will say man I lost I I forgot what I was gonna say that happens to me a lot and I'm gonna work on it actually I'm gonna read a book on increasing your memory there's a guy there's this memory competition I didn't know and and they have like specific ways that you can help increase like that memory that you have like that Ram I guess but but yeah I guess we'll just cut it at that we'll leave it at 15 minutes if I remember then I'll just pop up another periscope without being said what's up Johnny without being said I hope you guys

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Learn Forex Trading: WHAT IS FOREX AND HOW TO GET STARTED

put this here today's gonna be somewhat cool medium-length let me uh medium length of just regular length let me connect this here that I have it connected to the charger guys I'm sorry alright fart can we get that I guess we can get it like that with it meaning now we can do a little bit farther BAM what's up guys alright cool guys so I want to do I want to do a very basic video what's up the original vapery I want I've had a few people that are hey man you know I really I want to do for excited is I don't know how to get started I don't know diddly-squat right and most of the videos that we talk about it kind of for somewhat intermediate traders that kind of have an idea they already have their platform out Thank You Man thank you thank you thank you I was going to say that for intermediate trader for an immediate traders that have been trading or already have their platform they kind of know what a pip is they they know what a pair is and kind of I guess I've been more kind of going for those people rather than just the fresh newbie so what I want to do is I want to make a video very very very very basic what is Forex like what the hell is this and how can I get started in it right and it's very simple so first of all I want to explain to you guys in my opinion what Forex is right I'm not gonna I haven't gone on investopedia to find out what it is exactly right hi how you doing I haven't found out exactly you know verbatim what it is off the definition but the forex market in short it's just it's meant for it's meant for the foreign exchange market right its market where banks they sell their own currency to buy other currencies in different countries so for example let's say if you're gonna buy something in Europe right well you don't necessarily have to have euros so you with the money that you have in the bank the bank will go through the four market right and then they'll sell the dollars that they have and then they'll buy euros and then with those euros they'll pay that that the goods over there all right so you didn't have to do that and that went through the forex market what we do is that were speculators in the forex market okay so what we do is that we buy and sell for profit okay well we're new we sell to lose money but the goal is to to do it for profit okay so well you know how do how do you get involved in this right I'll show you guys how to open up your dad well you don't have to pay a single cent to get started it's completely free most of the brokers are gonna give you a just a free demo account where you can just open that up and be trading in real time get access the only difference is gonna be that it's not gonna be real money and you're not gonna know what it feels like to have real money in there but you don't need to put money in the first place you can just do it brand new zero from scratch and I'll show you and I'll show you just put forex brokers but first of all what is it that you're buying in forex right so when when they say okay the stock market I know I'm buying a share right on average on average what do you profit monthly I shoot for three percent a month on average so far we're up close to a forty five percent this year so not that bad right now who I'm not competing with but who I'm measuring myself they're around sixty percent so there's always room for growth but I'm shooting for a solid three percent a month but what I was saying was what do what do we buy thank you what do we buy in the forex market so let's say you you want to get started okay so it's the foreign exchange market this is where this is the bank's market okay this is the world the global market what am i buying when I go there well you're buying money okay a woman and they'll separate that in lots and they'll call it a micro lot they'll call it a mini lot or they'll call it a standard lock and all that really means is that a micro lot you're buying a thousand units a thousand dollars a thousand euros a thousand Australian dollars a thousand loonies right which is a Canadian dollar a thousand yen and a mini law is ten thousand of the same units or ten thousand dollars ten thousand 10,000 pounds right and then a standard law is a hundred thousand units okay so a hundred thousand dollars 100,000 euros and so forth and so forth and you can buy in multiple standard Lots and multiple many lots and multiple micro Lots okay so all it really is you're just buying money and what we want to profit from is that small change in cents right and just in not even the sense that you see when you're gonna pay right there just then we call them pips their percentage in points and I was gonna write all of this down there but you guys aren't really gonna see it that well even if we move that and that probably looks backwards so I thought that hey it probably won't be a good idea until I have something set up that we can do it but anyways we measure that change that small change in what's called pips percentage and points right but to keep it very basic it's just that small change in price so if it goes from you know the dollar euro being a dollar fifty to a dollar fifty one well if you have one single dollar oh it doesn't look backwards well do you guys would you guys let's bring it up to a vote guys at the true democracy right if you guys want me to write it there right like what pip is and a pair all that stuff micro lots mini lots and just either put in a whole bunch of hearts or just say hey do that I guess press yes or no yes or wired why or no you need a lot of dollars to make money from pips let me just move this right you need a lot of money to make yeah right bro it shouldn't it should just have to be not just keep talking all right so we got two two for one two for one if we can get some other people yes right – worth – at one this is this is your fight guys this is your fight I got no problem you guys got to scrap it out this is this is your beef yeah right alright cool then all right so let me keep talking yes ah we're shooting for yes so I guess we're gonna have to do it guys let me see how I can extend this out okay because I kind of tried but remember we're gonna also be doing this for YouTube and I don't know how they're much going to be seeing nah right it I'm kind of conflicted guys I'm kind of conflicted I'm trying to take notes I felt better just talking about it but well go ahead and get into it so what is Forex right we kind of talked about that if we go back to what our let me see if I can move this more to you guys over there just write it man we can see all right cool I'll write it I'll write it so we're talking about when you're buying right so you'll have one Microlock one micro yeah and guys by the way I am a trader I am NOT an English major okay I have never gone to college so if I write something wrong or it looks scribbly I haven't had to turn something into any teacher in a long time so so don't judge me okay so we have one micro which equals 1,000 units so we'll put 1k right if one the K means a thousand okay then we'll have one mini okay and that equals 10,000 and then we have and I can't read the questions now he can't see the questions or post because he's looking at the board yeah that's that's pretty much one thing there I mean it's a given to take guys it's a given it takes oh you know we have to we have to do a little bit if I don't see any questions you know so then we have one standard okay and I'll just put I'll just write it out standard okay and that equals 100,000 so you're probably asking yourself well you know Danny I don't have a thousand dollars or ten thousand dollars over a hundred thousand dollars to you know just by money right now and that's the great thing about Forex right so since we make money by a very small change right what we want to have is we want to have a lot of money right we want to be have access to large amount of money so any small change we can profit from that as much as possible so what they do or what Forex does is that it's a leveraged market so you're not just buying a thought you don't just need a thousand dollars to buy a thousand units like in the stock market it's leverage one to one where you need if you want to buy you know 200 shares and they cost $10 well then you need to cough up 2,000 bucks the cool thing about Forex is that we have something called leverage and leverage gives you the most that you're gonna get in the United States base broker it's gonna be 50 to 1 so for every dollar that you put in your broker is gonna give you $50 so if that's really cool right off the bat for every dollar so that means with a thousand dollar account right how much you guys are gonna have access to you guys are gonna have access to 1,000 times 50 so we'll add a zero so you're gonna have access to $50,000 that you guys now can trade so now you can get $50,000 and now you can buy several different positions of 10,000 positions right or maybe in this case I would recommend just thousands so you can just get two or three trades around $1,000 each right or a thousand units each and then those profits are not going to mount too much so how much does Forex see well Forex is just a market your broker is gonna charge you a small percentage for that hello sir your broker is gonna charge you they're gonna charge you a fee they're gonna be like hey look I'll do this for you I'll give you access to all these different currencies that you can buy and you can go over there and get that I'm just gonna charge you you know a dollar every time that you do that 50 Cent's every time you do that a dollar 25 depends on your broker right I'm gonna charge you a little bit every single time you do that and in between that there's something called the spread and right which is the difference and what you'll buy or what you'll sell but those are very minimal if anyone has any questions seems to cover the basics pretty well enjoy yeah thank you so Mac I lost a little check what I was saying there so they're gonna charge you a little bit for doing that right not gonna charge you a lot it's gonna be very little and then they say hey we'll charge you just for doing that service but now you guys have access to capital now you guys have a market and you guys can make money off with a small change that happens from a dollar it's without a 50 right and now you guys can do that with minimum money you don't have to spend so much money like the forex market let the stock market for you guys to have access to that so it's pretty cool once you guys have that and once you guys understand that now you got ready to say okay well now that I know what I'm buying now I know how much I'm buying right now I know how much money I can kind of put in an average beginner account it's gonna be anywhere between $500 to around $5,000 right oh this is yeah this is just a very basic overview on how to get started what what is it that you're buying you know one I what is Forex right like I hear for ice I hear everyone on Facebook or Instagram and all this stuff but I just don't know what it is I don't know what I'm buying I don't know where the market is it's a very it's a decentralized market so it doesn't have to go through all just one place like the stock market and it gives us at the beginning you've got a little bit of a bad reputation because a lot of the brokers are kind of messing with the messing with the traders and they could it was very unregulated but it's it's not like that anymore you'll still get your you know your shady brokers but most of the brokers that you guys are gonna be trading with like fxcm Forex you know just I'll powering all these people they're fine and those are just excuses that people give themselves when they don't feel it's a good trade oh my broker is screwing me right so now that you guys know what that is right how do you guys actually open up a demo account right and what is the demo account which do you use I'm using fxcm I'm using it through ninja trader so it's really fxcm but I'm using it through ninja trader so you're basically playing with the markets with other people's money but your own included um no you're playing with your money right because all the all that it is is that you're just getting the brokers giving you more money they're saying hey you know what I'll loan you this amount of money you just got to put in this deposit right and I'll let you play with $50,000 right that's how that's your notional value and you guys can look that up the notional value is the access or the capital that you guys can can you lose money you can of course you can lose okay this claimer disclaimer in the house you can lose all or more I don't even I don't know how they say all or more of your money but yeah you can lose your whole account like I have lost my accounts when you first get started it's not easy because there's a lot of emotions involved but now you guys have that written down I just kind of wanted to write that I know there's a few other things but they're just they're really not gonna be needed to write that down if you guys feel that there's something that you should then just write it down I trade binary options but want to learn for its yeah honestly dude look if you trade options I got into binary very very very briefly I went through Nadex and I just it was a little different for me I'm gonna get into it maybe later on but just right now it's it's I'm I want to teach people how to do for its of its simplicity and it's very simple for you guys to do so before to not make it too long now that we have that now that we know what we're buying right now we know okay so I know what the market is I know that's where banks go through to change their money I know that that's what they do I know how much I'm buying right I know that okay so for me to have access to that I need a deposit money in a bank or a broker and they're gonna give me access to this amount of money and I'm gonna be able to buy it in those amount of increments right where do I do that how much do you profit a month and how long have you been doing it you are passionate about this young man thank you yes I am I really do enjoy this I've been doing this since late 2012 I shoot for 3% a month right now we're up around 45 percent a month forty five percent of the year but um but I don't I don't there's not a specific amount of money that I make every single month of a trading it's really based off what happens it's a probabilities game so what is the least what is the least amount I can invest in the brokers that you can start with a $20 account I wouldn't recommend that at all but you can start out with I started out with a $500 account I think it's very small but I think that with a $500 account you can trade micro Lots like one micro lot and basically what that would give you is a micro I can write that down for you guys but a micro loan is gonna give you 10 cents per each pip right so for every pip that the market moves either up or down you're gonna you're gonna either make or lose 10 cents for that pip right a mini lot is gonna bring you a dollar per pip okay so every pip that moves right because now you're instead of buying a thousand now you're buying 10,000 right so since you're buying $10,000 that same little pimp move right instead of it being 10 cents now it's gonna be 10 a dollar when you say you can lose money you can only lose what you put in and what you gamble right yes exactly you you don't lose more because they have something that's called margin call and if you start if like and trust me margin calls award you you don't want to know what margin call is margin call basically means you're in a position right and it's going against you and they need to cover themselves because remember they're lending you this money so they just cut you out of the positions before it goes into the negative before you owe them money right so that that's you're never gonna have to worry yes of course I you cannot trade Forex without stop losses there's that's more into the technical of it thank you thank you for that stop-loss those are different type of orders that exist within the market but that's a little bit more technical like the buy stops or limits and and those are just different type of techniques or not techniques just orders that you have in the market no need to get into that right now what I want to show you guys is how to get started and how to download your platform how you guys can open up a demo account just for free and and just see what this is see what the charts look like and then from there you'll kind of start picking up on a little bit more so how do we do that well you're gonna go open up your browser right and I know I was finishing about the pips it's just that it's very you guys can look I'm a micro lot it's gonna be ten cents per pip a mini lot it's gonna be a dollar per pip and the standard lot is gonna be ten dollars per pip so very simple if you trade to micro Lots that's gonna be twenty cents I can't make any recommend recommendations on brokers but just know that the majority of the brokers that you're gonna find online they're fine of opening up a demo account it doesn't matter because the demo account all they're doing is it's just they're just connected they're they're not connecting you to the live market but they're getting access to all that data so it's the same thing as if as if it was so really you can go to fxcm you can go to Forex I'm gonna show you guys right now what to do that so the math on the micro lots and the mini just so we can end that is very simple so a micro lot like I said it's ten cents if you wanna get to micro Lots that'll be twenty cents if you want to get 5 micro Lots and I'll be 50 if you want to get five mini Lots right it'll be $5 if you want to get five standard Lots it's gonna be $50 so it'sit's the same way so the math is simple on that so now that we did this right how do we find a broker right I want to find a broker Danny how do I open up how do I open it up very simple so we go over here and I'm gonna put this on the screen for you guys to see and YouTube is also gonna see this as well so this is you're gonna open up your browser and then you're gonna go to google write Google is your best friend if you guys are new at this Google is your best friend best best best buddies hold hands kiss them hug them do everything that you can because Google will walk you through your journey as a trader okay so then what you're gonna do here you're gonna put Forex broker Forex Forex broker okay so you click Forex broker and we're gonna click on the first one forex.com okay Mary Google yes Mary Google so then we're gonna go over here and then you're gonna sign up for free where it says open up practice account so you're gonna put in your name Daniel you are near email we'll go ahead and use the alcove one the alcove FX at gmail that's not our email is Danny G at the alcove FX but I just don't want them spamming that box so we'll go ahead and cut we're not spamming it's just that I don't need this account this is just for you guys so United States will go ahead and put the phone number three oh five five eight two three one two three well doesn't really matter it's a wrong number English and then open practice account okay so you're gonna open practice account and it says this is your username the output of FX at gmail your password is Daniel right and then you can download Forex trader pro you can all you should be able to download you should be able to download metatrader 4 but whatever so you're gonna click download right and we're gonna download this I really wanted um yeah I'll download this thanks for you hey guys you know just give me a call just kidding so we'll go ahead and download this is this your periscope yes it is I'm gonna call you later look you can call me only if you're gonna invite me to dinner all right if you're not gonna invite me to dinner I don't want to hear any call so we're gonna go set this up yes I'm gonna have to delete this right afterwards so we're gonna go install show you guys how to do all this stuff I really don't want any excuses into why you guys gonna do this I'm really walking you guys through everything on how to set up your platform right and this is not my favorite platform you guys could do it on another platform I'm sure you guys are gonna be able to go over here you see where it says this platform and then go to Metatrader and then you should be able to download metatrader for that's gonna be a platform I'm gonna show you guys so then we go to language practice username let's go ahead and put a user name right right in the box open that up username password is Daniel all right Daniel right over here don't remember me login ok so now it's gonna login and now we are logged into our platform you're like what the heck is all of this right ah crap right okay that's fine so first of all you're gonna exhale all this BS okay let me how do I haven't been on the guys I haven't been on this platform in a long time so trading panel X that out working with current rates exit out popular market exit out watch this all that stuff you can exit out trade ideas exit out emerging technical analysis close all that BS out Forex insider close that out today's news close that out economic calendar closed out how you can find this somewhere else better open positions you can have that they're active order you can have that their activity log you can X that out and then you'll move this and see if we can move this down over here okay so now you have a little bit something different now you have a chart okay now this is now this is looking a little better okay now we're gonna click on this is gonna open up left click this and you're gonna put the lead series okay you're gonna delete that and then you're gonna click on these lines click delete series okay so now you have a booty naked chart that's what you want you want a booty naked alright now once it's booty naked now you guys are looking at price action now you guys this is price this is what the euro versus the dollar has done in price right for in and every single candle represents five minutes and we're gonna change this to an hour okay so now this represents one hour okay and we're not gonna go into the details of this all this is because that's for another video and we'll do that for tomorrow but now you guys have this and now you guys are seeing the same thing that I see over here my platform is just different but this is my platform all right it's gonna have different things yeah that's fine but I mean it really doesn't matter that we're seeing the same thing look I can put up we're gonna find over here Eurodollar right on the 60 minute and then look what that other chart looks like so we're gonna put Eurodollar 60 minutes right it looks the same I'm sorry boom guys I'm sorry this platform is different all right it looks the same it's different right but it's the same thing we had this nine bar right here where's your USD but um right there so same thing just different platform same thing okay and that's what I want you to see so right I'll leave you guys with this what are these charts they are the visual representation of the actions that traders all over the world are taking so when I sell write this tensor when a lot of people sell the market will go down one people buy the market will go up so in this case right now if we zoom in right for the past hour people have been selling if we look over here in this candle for this hour a lot of people were selling a lot of people were selling here too a lot of people were selling right there right and then right here well what why did this move damn it right here people started buying little by little they started buying they sold so that's that's really what's happening here people were just buying and selling buying and selling buying and selling based off of where they think that it's gonna go based off of what they mean some people work in a place in positions to hedge themselves versus what could happen if they're gonna make a purchase in a few months and they don't know if it's gonna go up or go down that drop made a lot of people profit yes it made a lot of people profit it's a lot of you last money you know really went both ways I think that in the case when you look at trading more people lost money than made money there's a very few percentage of people that are making money and it's not to discourage you guys but it's to let you guys know that it's not that simple as in hey I'm just gonna throw in money but if you learn the right way it can be simpler than most think okay so I don't want to I don't want to sell you guys a dream and tell you guys hey you're gonna be millionaires by tomorrow that's what I got sold on and I don't want to get sold that stuff so you're not gonna be a millionaire tomorrow you're not gonna open up a few thousand dollar account and turn that into fifty thousand by the end of the year it's not gonna happen if it does happen kudos to you keep doing what you're doing much much love show me because they'd be I'd be very interested in seeing something like that but it just doesn't happen Forex will take you some time it's gonna take you a year two years three years four years even five years it can take you right but just know that what you're acquiring right is equally as to most right equally as beneficial than a finance degree than a business degree than a medical degree because once you have the skill right and hear me out because I know some of you guys are probably like what do you mean right once you have the skill to produce a forty to sixty percent return a year right all that you need left is capital right once you have that skill what you need left is just capital in large amount of it right because once you make a forty fifty percent all it really is your says let's just apply a whole bunch of money to that because of 50 percent of $5,000 is twenty five hundred bucks a 50 percent of $1,000,000 is five hundred thousand dollars right the same skill right the same skill it's just the amount of money that you applied to it so don't be dumb B word if it takes you five years and if you're like hey you know I'm not gonna be able to save enough money to start up a big account that's fine right because once you have the skill people with money will throw their money at you they there's a lot of people with a lot of money and they don't know what to do with it and they're they want to give it to someone that can turn it into something big and a forty to fifty percent return a year for investor is something huge okay so I want to let you guys know that so without being said guys I hope that this was basic enough I installed I hate installing programs on my computer but I installed one for you guys okay so you know I'm just letting you know I did that for you guys so I don't want to hear any excuses I don't know how to get started I don't know I showed you guys exactly once you have this then it's gonna be a lot easier for you to follow through with the other videos and we're gonna be making a follow through tomorrow so what do you do after this right so for those that are interested make sure you hit subscribe follow us everywhere cuz tomorrow we're gonna do the what happens after what do I do now now that I have this Danny I know what we're buying I know where we're buying it I know how to get my account setup I know how to open up and see the charts right now what do I do alright so I got you guys tomorrow I hope you guys out with that I'll show you guys what to do but I hope this has been in education for you guys I hope you guys have learned something from this but it was my intention so without being said guys make sure to follow us on the alcove FX on Instagram how can I contact of course send me an email at Danny G at the alcove FX guys we do have a group that's currently open send me an email if you want more information on that group it's on GroupMe and we're talking tomorrow I'm gonna be broadcasting tomorrow probably at the same time at 6:00 and it's gonna be taking a little bit earlier I know that we haven't normally set at 7:00 but I'm gonna be broadcasting at 6:00 same time as today but what I was saying is that we have that group for those that are interested just send me an email that group is what we have instant support every morning I send you guys pictures of the trades that I'm taking the entries to stop targets where my targets are and I guys manage that throughout the day and I let you guys know hey I'm rolling my stops this is where I'm rolling my stops – hey positions are off right here we got stopped out basically just following you through with those trades and and you also get support from other people there there are other traders in that group already that you know you guys don't listen to necessarily just have to talk to me or you'll get to hear from other people's questions too so with that being said guys I hope you guys have a great day I'll be back tomorrow with some more great stuff thank you guys for the support it was amazing and I'll see you guys tomorrow good luck and good training

[trademasterteam]

New Post has been published on TRADE MASTER TEAM

New Post has been published on https://trademasterteam.com/forex-trading/learn-forex-trading-candlestick-entry-techniques/13001

Learn Forex Trading: Candlestick Entry Techniques

hey traders welcome back to Forex inside review this is Danny G and before we get started I just wanted to give a big big thank you to all the loyal subscribers we have hit a thousand and I know that to many of you that might not seem like a lot but it is a huge deal for me that we started from literally zero subscribers nothing just started posting content out here so I really do appreciate it thank you guys from the bottom of my heart and for those that haven't subscribed do me a quick little favor before we get started just hit that subscribe button hit that like and comment below and let me know what you guys thought if it was good thoughts today we're going to be going over candlestick formations which really move the needle for me entry techniques things like that so all that and more right after the intro [Music] you [Music] hey traders so I want to go over something that really moved the needle for me right which was candlestick formations right entry techniques so I had the strategy I knew basically where I wanted to get in I understood that I got my bias from the daily timeframe right and I came down to the hourly timeframe and I looked for levels that I can get in short or long right based on the daily timeframe the problem was though that once I identified that zone once I identified that area that I wanted to get in what did I need to do to actually click buy or sell right what was that trigger that was like okay now you can enter short or now you can enter Mom and for me that was candlestick formations right so I needed something I needed price to give me a sign to tell me something right and be like hey this is what we're going to get in short so there's a whole bunch of different candlestick formations right anywhere from double tops to Morningstar came from confirmation to three little soldiers or three white crows or hammer shooting stars everything there's a whole bunch of them and I'm gonna go over a few that I look at and I trade right and I'm going to kind of give you the the reasoning behind why I trade these candlestick formations and hopefully you guys can pick a few or just see the logic behind that and maybe look for another candlestick formation that fits your trading style your appetite whatever it is fill in the blank so I made a small little presentation for you guys on illustrator I know that usually it kind of goes on on the on the Microsoft what is the PowerPoint but it's easier for me to do it on illustrator because I can kind of modify a few things so let's go ahead and take a look so right here what I did is that I know this is going to be very very basic for some of you right but guys you won't believe it this traders from all different levels that are watching these videos experienced traders very very new traders intermediate traders so I'm just going to kind of give you guys the basic right now of what a candlestick formation is and then we're going to go over to the I'm sorry I'm going to give you guys the basics of what a candlestick is and then we're going to go over to candlestick formations right let me see if I can remove this there we go right so like that we see a bigger screen and then I'll just bring it back so this is the high of the candle this is the open of a bearish candle so this is where price opened up and this is where price closed and this is the low of that candle right and the same for a bullish candle so this is where we open and this is where we close so by the time it opened it pushed up all the way higher this is the high of the candle and this is the low of the candle and this is what's called a doji candle right now imagine a tug-of-war right so you guys are pulling pulling pulling pulling to the downside pulling pulling pulling pulling to the upside right and at the end of the hour or whatever timeframe it ends up at a draw right no one was able to really push it down over here so this candle is called the indecision candle right we don't have a decision here right it was a tie so there and this is going to come into another candlestick formation right so that's why I wanted to explain it to you guys but this is a tie now from here I want to go over some of the candlestick formations that I actually use now I'm going to start out with my favorite one a double top right or a double bottom right and this is the this would be the double bottom right but the double top is when price comes up to a level of resistance right and you see price halt right and then you see it put a bearish candle and then we go down and then we go back up and then we go back down and then we come back up over here right now there's a lot of different ways to trade the double top and to trade the double bottom right the way that I learned and the way that I trade it right is that the this candlestick right this week has to at least touch the close right which is this close right over here right this wick can also go like this right it can it can go higher than the highest high right over here right so it can go up all the way over here the only thing that it can't do right or the only or one of the things that it can do is that it can't close above this high is high all right if it closes above like in this case right then it's no longer a valid double top for me right it can all it can do this it can close above the close as well right it just can't close above this high as high so what are the rules right well the high must touch the clothes and cannot close above the highest high right so if we have these two then it's a valid double top right now there's some other things that I use for my double top I use RSI divergence right and the RSI is a tool called the relative strength index right now this is a it's a mo it's an oscillator right so it just goes up and down it doesn't continue going up or continue going down and this oscillator gives me the relative strength of this candle compared to the other previous candles and if we have something called divergence right and I'll show you guys right here what their vergence is actually I'll show you guys later because right now we're going over the candlestick formations and we'll go to the real charts but if we have divergence right then this is a valid trading opportunity I would enter right at this candle right over here after this bearish candle has formed so I'd enter right at this open right same for the double bottom it's the same exact thing same rules apply this is just reversed so you guys can see them then we have something called a Morningstar confirmation now Morningstar confirmation uses this doji candle that we were talking about and what it means is that price is coming down right we get an indecision candle we don't know what's going on here and then we break a move higher right so we make a move higher a bullish candle this is bullish confirmation we would enter next bar market which would be this candlestick right over here in the same for a bearish Morningstar confirmation right now I think this has a different name I think this is like a Morningstar and this is like an evening star I don't know you know all I know is that excuse me that's the formation these are more aggressive entries than a double top or a double bottom right but you can still use them still valid and then this right here over here is what we have three little soldiers three white crows three white soldiers whatever you want to call it and there's an eye and there's two different ones here right because I want to illustrate the difference so there's people that trade right these three have to be within the body of this candle right so for the further the trading strategy to be or the entry technique to be valid these candles need to be within the body of this candle right now me personally right I think that these three soldiers have a lot more confirmation than these three then you can tell the difference and take a second and tell me what the difference is obviously besides that it's not in the within the body of the candle but tell me what else do you notice in these candlesticks that these don't have right give you one second you guys can pause it – all right I'm live you guys aren't all right cool so if you haven't noticed right notice that there's no wicks all right see how there's no wicks over here right that's a lot of selling pressure right so we so we have pressure we probably got a little bit to the upside but then we close really we have a lot of momentum to the downside these are called Mar buzu Mar BOSU Mar Bisou I don't know the name I know that it's something like that right Mar bozo candles which is basically showing that there's no wicks to the downside right giving that there's no buying pressure at the end of the hour time frame or the daily time frame or whatever time frame that you're looking at right so whenever you have these three come from these three little soldiers right then it's a it's a confirmation that price wants to continue going down lower now this is a more conservative approach right because you have to wait for three bearish candles after we've hit our level of resistance or support right so it's you're going to have a lot you're going to need a little bit more patience and these aren't as often right as other candlestick formations so you know definitely got to have a little patience for that one then we have more aggressive entries now these can be all flipped backwards upside down I didn't do it on these either but I'll show you guys that and they have different names if you're flipped upside down so like for example this is called this is called I think it was a hammer right and then this one's like an inverted hammer and then if you flip it it's a I don't remember the names guys anything that I say right now is just going to come off wrong so I'm sorry but these are these are the candlestick formations and you flip them they're the same I think one two inverted hammer the other ones a morning not morning star shooting star the other one's a just a hammer and then I forgot what the last one is called right but these I was talking about these two this one is an engulfing candle lower low lower close however you want to call it and it's basically when we come up to a level of resistance right let me see if I can draw out let's say that this is a level of resistance right let me increase the thickness so you guys can so let's say that this is a level of resistance right if we come back and we come up here right so we're looking for the shorting opportunity so we're waiting for price to give us a lower lower lower closed under this wig right so we can do this as well right it can do sorry it can do this right where the wick is lower right this wouldn't be a lower lower lower close this would be once we do this right once we close over so we can have the wig right we just need to close lower than this low right over here now that's an engulfing candle we've engulfed this complete candle right and that would be a bearish indication right an aggressive bearish indication this right here is another aggressive bearish indication because we're looking to take the trade after this candor this candlestick so next bar market same with these these are entering next bar market so these are aggressive entries but these are candlestick formations that we can look to execute on now this is something that's very very very very important guys I don't trade any of these right any of these candlestick formations any of these over here if we are not at a level of major support and resistance right we have to be at a level of major support and resistance on the daily timeframe for me to even consider trading these candlestick formations now this is crucial right because a lot of traders will go out here and be like oh Danny G trades double tops Danny G trays double bottoms let me trade a double bottom or a double top because I'm pound/dollar there's a double top right now right and this is we're recording a tour December 5th right at 8:00 in the morning you know pound dollar has a double top right now right so let me trade that one right but you gotta be you gotta be sure right or not that you got to be sure but you got to make you got to pay attention at where you are and respect it to the higher time frames right and just even in the lower time for in respecting to where you are you're gonna trade a double top or double bottom in no-man's land and what that meant and what that means no-man's land is it not at a level of support and resistance no right at least I wouldn't I don't trade these unless we're at any significant level of support and resistance so what I'm gonna do right now is and I'm going to bring up the charts and I'm going to show you guys what these are what are some of the candlestick formations and I've highlighted them and ok so dollar yen we have one right over here so we have this double top right let me go ahead and delete all this stuff all right so we haven't don't mind this this is just because there's a site for completion over here I'll show you guys right now there's a site for completion over here so it's showing me the target profit and the and the stop-loss but all right so we have this double top right over here right and this is a valid double top right and the only reason I wasn't able to actually take advantage of this was because I think it completed not in my trading hours but we have this double top here now the only reason that I'm looking at this double top is because we are at a level of resistance on the daily timeframe I'll show you guys what I mean by that right now so look at this right over here so we had a level of resistance resistance support support support and now we have a level of resistance resistance resistance right so we come back up to this level of resistance now I'm looking for a double top right I'm not looking for a double top right over here right what is this this is no-man's land right this is no-man's land right right over here this right here is consolidation right looking for trade there I'm looking for a trade right here at these levels that these levels were price actually did reverse right and this is very important guys whatever you're looking for Morningstar confirmations hammers inverted hammers blah blah blah blah blah you know you got to be looking for these at levels where price has reversed before this is very very important this is doesn't matter what strategy you're trading because price does respect these levels of support and resistance not always and we can have different decisions some traders I know that some trade is for example on pound dollar they traded the breakout right of this to the upside right instead of looking for a counter trend opportunity to be looking short they traded to the upside that's fine it was a decision level but they made that decision there right they didn't make it over here Midway they made it at these levels of support and resistance so you got to make sure that you you at least consider the levels of support and resistance in your trading because they're going to play a crucial part whether you like it or not I think on Aussie dollar we had another oh no this is on the daily I'll show you guys on Aussie dollar we had another double top was it let me see Aussie dollar Aussie dollar right this one one was one that we did take advantage of so we're coming back up right and you're asking okay well why did you take this double top well we can see what happened on the daily right what happened over here we were consolidating we broke this level of structure we came back up where were we yet we were at a level of support and outturn resistance is that a morning sir you can consider it's a doji candle right this would be a Morningstar a Morningstar it's not it's a doji candle but work later see I get sidetracked so easily so we broke this level of structure right we come back down we came back up now I'm looking for the shorting opportunity right and then we go down to our lower timeframe right and we got this double top and then we got the divergence what's the diversions that I was telling you about this you see this RSI right over here right so we got the divergence right price came up we came back up to retest the RSI was making lower lows right and then we got the reversal we got the little spike up higher but then we got the reverse and then we got the break of structure we came back up to retest many of them call it a 2618 there's different names for it we came back up to Rita's and then BOOM right the drop down lower back to previous support down over here right and and then now we're just kind of consolidating coming back up but anyways this was a double top trade that we took right and this is what I mean on pound dollar right pound dollar we're putting a double top we came back up over here we came down we're coming back up to retest why am I not looking at this candlestick formation well because we're no-man's land we're not in anywhere that I'd want to trade on the daily timeframe so I'm not going to be looking at this even though we have the divergence right look at this we have the divergence we're coming back over up over here we have a lot of divergence but I can't take this trade because we're not at a level of support of resistance that I'm looking at the trade euro dollar right over here we had and this is both this is why I highlighted this one we got the double top right we had the slight divergence all right why were we looking at this trade let's take a look at the daily see where we are right where were we on daily we're at a level of support right so that's why I looked for this trade I wasn't looking for this trade over here I wasn't looking for this trade over here right I wasn't looking for it over here I was looking for it down here because this is where price had reversed right so if I'm looking for a trading opportunity it's going to be centered around these levels of support and resistance right and these candlestick formations they're not a strategy by themselves I don't just trade every double top right I only trade them when we're coming back up to these major levels so we got this double top and then we got what those three little soldiers right now in this case they're not exactly like how we identified and guys they're not always going to be that way right what's important though is that if you want to include that into your strategy make sure that you have a way of objectifying it whether it's going to be okay I can't have any wicks to the upside okay has to be within the same body of that candle okay it just has to be three consecutive candles right whatever it is that you want to do it can't be longer than the first candle they all have to be similarly the same the same length right you can use something like that to objectify it but anyways these this was a similar formation we got the small pullback to retest and then we got the move up higher so there's definitely these candlestick formations do happen and then on I think finally it was on pound New Zealand that I wanted to show you guys that we had a few so this is the Morningstar confirmation but I think I want to go back because there was a few different ones so this is this is an engulfing candle right lower low lower closed so we got the candlestick up over here then we got the lower low lower closed and then price reversed down over here that I have something else up here yes I did so we have again the hammer or the inverted hammer the shooting star I don't remember right but we had a long wick with the small body right and what the price do what we got two candles and then boom reversed right big big reversal I think that was it right I think that was it I didn't have anything else yes I didn't have anything else again another engulfing candle right so these are these are candlestick formations that we can just start finding a whole bunch of them right we can start finding a whole bunch of them but these are candlestick formations that happen and you want to be using these now in this case I probably I wouldn't have traded this one right let me see if we were at a level of support and resistance we probably weren't yeah right so in this case where we came you could have been aggressive right because we did have this consolidation over here right and if we did get the pullback you could be aggressive and internal at this level of consolidation putting stops above these highs right but it wasn't it wouldn't have been the trade that I would have taken personally but you could you could make it work and I can see how you can make it work right and then we had the Morningstar confirmation here which was a failed one right but still nonetheless a Morningstar confirmation we had the the bearish candle then we had the doji candle and then we had the bullish candle and then we also were in the descending triangle which we could have had a fake a fake out to the upside before making a move down lower show you guys with what that looks like yeah descending triangle so you know guys there's there's a lot of ways to trade and that's why sometimes you know I I was criticized one time for for not giving you guys specifically you know like showing you guys that there's many different ways but not showing you guys specifically how to enter or how to exit but the truth is that there's so many different ways so many different ways to trade that I can't possibly test all of them and I can't possibly tell you which one's going to be the most profitable which one's not going to be the most profitable what I can tell you is that I Center my trading right around levels of support and resistance right and I look for candlestick formation entry techniques right at these levels right they're going to maximize my wrists reward and give me the highest probability of success right now keep in mind probability right key word probability right I said it kind of kind of text in there you know but we got to make sure that we understand that not every trades gonna be a winner don't go out here and be like oh man Danny G drop some knowledge I'm gonna be trading engulfing candles lower the lower closes I'm be trading all the soldiers not just three of them you know and and you start losing money we'll just make sure that you guys know exactly what you're doing and I would recommend knowing what you're doing before you start trading with real money trade this on the demo account take a few months guys a few months is not going to kill you and if it does if you can't take a few months right to practice on your trading then that means that right now you need money more than you need a skill or I'm sorry let me let me rephrase that right right now there an urgency for you to make money and I don't think that if you if you don't know what you're doing you shouldn't invest your time in trading at this moment I think that if you need money fast I think there's other ways that you can make money fast right for you to dedicate time that you need to become a profitable trader and then apply capital right to your trading in order for you to grow your accounts they're two different things right so I hope that you guys understand the difference I know that I was one of those that I rushed myself and I tried to make money really fast and that's why I lost thousands of dollars trading so I hope you guys don't make the same mistake as I did right so guys I hope this helps I hope this helped you guys with with your entries I hope that you guys now have something that you guys can use guys if you have any questions send me an email at Danny G at the alcove FX I'll be more than happy to help you guys please do me a favor if you haven't followed like to subscribe please do me that favor guys we're growing really fast and we're going because of you guys we're going because you guys are sharing these videos because you're talking to friends about it so if you guys can continue to do that that would be so awesome and I'd be so appreciative and the more that you guys do that the more motivates me to give you guys awesome content like this and and also guys if you have any questions about anything specific you know about trading a wedge pattern whatever anything that it might be send me an email Danny G at the alcove FX and I'll and I'll make sure to include that in the next video so with that being said I'll let you guys go I'll see you next week good luck the trading guys I'm adding each other different names we would dig a rocket ship numbers live far away this dream of outer space now the mountain either face saying wake up you need to make money

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