UPDATE: The 4H candle didn't quite close as a Type 2 on the '-61.8' level, but it was close enough if you give it a certain amount of tolerance (technically it's a Type 3 close). If you went long at that point, there was an initial bounce of nearly 20 pips and the level definitely showed its significance. However, ultimately it would have moved through the stop loss after, when it closed through the '-27.2' a bit lower. You could have potentially exited at a small profit, since the price action was clear – however, for the sake of this video we will call it a loss at the stop loss of ~25 pips.
As for the -27.2 (based on the larger range) the price interacted with it, which showed its significance, but ultimately closed 'through' it, which meant there wouldn't have been an entry.
So in summary: the '-61.8' level would have been a loss at SL of ~25 pips (ignoring intra-trade price action) and the '-27.2' level would have been no entry.
This has been so helpful, I was on Eur/USD the time you were making the video and it's reassuring that my analysis wasn't far off from what you showed, though I was impressed in how much more technical you were and I have certainly identified a huge area of improvement. However, at the time I have opened a long on 1.18345 with a TP set at 1.196. It would be interesting to see if the bullish market continues. Ps still on demo account here and my plan is to make 50K one day to pay off the mortgage, will probably take me 2-3 years to achieve 🙁
What a convenient North Korea false alarm… Gold, EURUSD, and DXY all bounced off Fibonacci levels at the same time almost as if a lot of limit trades were all placed at the same place.
Great vid again! I still have a question about the fibonacci. Do we ever trade off the "C" point? Or only from the "D" point. I guess it could be a trade when it confirmed the "c" point and came back from the "B" point again right?
First of all I love the videos and the casual approach how you explain stuff,hats off..,now this is off topic and is subjective,but relatively speaking if a person who has studied fx done your courses or others out there (so basically he aint no layaman,) and has the basic grasps of trading,what is the least average you would expect a month of the person of that calibre taking say 2 trades a week to make pip wise a month,I know it depends on the trader but an intraday trader to a swing trader on average must be a benchmark that if aint makin at least x amount of pips a month needs to rethink their strategy right?what number at the very least could you say that was in your experience?cheers
Which Indicator you are using bro?
Live private videos youtube
YOUR CHARTS ARE DISGUSTING!!! Who uses Metatrader for Charts Still? Are You Stuck in 2002?
What software are you using to look at these charts?
Amazing video by the way!!
press delete on your keyboard instead of right-click delete
Thanks for this more in-depth analysis video, and using timeframes as a tool.
Guys go long for GBP jpy and short for eur usd you will make alot of money 🙂
the euro will be shorted 100% it will fall but alot of buyers lurking at min 15 pushing it up I will short every bounce!!
SOLID analysis! Excellent! Thank you for the value! Keep it up 😀
UPDATE:
The 4H candle didn't quite close as a Type 2 on the '-61.8' level, but it was close enough if you give it a certain amount of tolerance (technically it's a Type 3 close). If you went long at that point, there was an initial bounce of nearly 20 pips and the level definitely showed its significance. However, ultimately it would have moved through the stop loss after, when it closed through the '-27.2' a bit lower. You could have potentially exited at a small profit, since the price action was clear – however, for the sake of this video we will call it a loss at the stop loss of ~25 pips.
As for the -27.2 (based on the larger range) the price interacted with it, which showed its significance, but ultimately closed 'through' it, which meant there wouldn't have been an entry.
So in summary: the '-61.8' level would have been a loss at SL of ~25 pips (ignoring intra-trade price action) and the '-27.2' level would have been no entry.
EUR/USD reached a monthly Supply area, so price is likely to drop down to 1.15 area "fresh demand"
Looking for a nice bounce here also, let it do its thing first before taking off north
This has been so helpful, I was on Eur/USD the time you were making the video and it's reassuring that my analysis wasn't far off from what you showed, though I was impressed in how much more technical you were and I have certainly identified a huge area of improvement. However, at the time I have opened a long on 1.18345 with a TP set at 1.196. It would be interesting to see if the bullish market continues. Ps still on demo account here and my plan is to make 50K one day to pay off the mortgage, will probably take me 2-3 years to achieve 🙁
What a convenient North Korea false alarm… Gold, EURUSD, and DXY all bounced off Fibonacci levels at the same time almost as if a lot of limit trades were all placed at the same place.
Awesome Video! Thanks.
Great analysis, thanks
Was watching this pair right before your vid came up 🙂 very solid, much appreciated 🙂
Great vid again! I still have a question about the fibonacci. Do we ever trade off the "C" point? Or only from the "D" point. I guess it could be a trade when it confirmed the "c" point and came back from the "B" point again right?
First of all I love the videos and the casual approach how you explain stuff,hats off..,now this is off topic and is subjective,but relatively speaking if a person who has studied fx done your courses or others out there (so basically he aint no layaman,) and has the basic grasps of trading,what is the least average you would expect a month of the person of that calibre taking say 2 trades a week to make pip wise a month,I know it depends on the trader but an intraday trader to a swing trader on average must be a benchmark that if aint makin at least x amount of pips a month needs to rethink their strategy right?what number at the very least could you say that was in your experience?cheers