Transcription
[Music] [Music]
Just a real quick example on the Eurodollar.
Again, let me preface it by saying these examples are for your learning and the benefit of activating your reticular activating system. That is to say, the only way you're gonna be able to spot these patterns in real time before they unfold is for you to see them routinely every single day.
Every time there's a new upload, watch it and fill in the dead space of your trading with study time, looking at old videos. I'm gonna make them very brief, very short. Certainly go through some price action, and then we can come back and watch live analysis. You will see these things unfold as it happens.
Only those individuals that view this as useless hindsight are the ones that are not going to benefit from this. Okay? So, if you're looking at it and considering this as useless, I'm not gonna sit here and argue with you and try to defend that.
The only way you're going to learn something is by repetition, and the best way to do that is to look at what's shown in hindsight. As you'll see, there's a repeating phenomenon that takes place every single trading day.
We look at a little lower timeframes from a higher time frame level to see the pattern form.
Okay, so looking at the hourly chart, I'm going to draw your attention to this area right in here. We had equal lows, so sell stop run. How do we know that price moved away sharply?
Now, by itself, that means absolutely nothing to someone that's not interested in learning how to read price action from the way I teach it. But from a hindsight perspective, it gives us a great deal of value in terms of insight.
Because if we know this is a run on sell stops, okay, these look for the bullish breaker. That means the high between the low of the stock run, so that's right here.
Okay, so that comes in at a high of 117.20, a nice institutional level. I'm gonna drop that on here. Now that's our hard time frame price level.
All we have to do is drop down into a 15-minute time frame, and we're gonna be looking at the time of day. Now, all we have to do is refer to that level and wait for price to break a short-term high.
There's a short-term high right here, so when this high is broken, that's a break in market structure. Okay? So you want to use the low to the high that forms once this high is taken out.
So we'll bring in our Fibonacci. Okay? Now we're all using the bodies of the candles, okay? The high and the low, and here's your optimal trade entry.
Look at the respect of the bodies. Now, yes, we wick through a little bit here, but look at the body trading out to first target, which is the old high.
And then target one, multiple opportunities get out of target one. Then every trace goes down below the old high.
And then we'll look at this example as well, or an additional setup for this is just a bonus for you guys. This is the Asian session.
Okay? And while we eventually did trade up to our symmetrical price swing, I'm going to refine this and show you one more example where the low on a hard time frame level price trades through this short-term high market structure break.
Now we also have this high be missed. That one you can use that same pattern here. High is broken, so you use the low up to the highest point in reference to the body.
Okay? Draw that up like that. You see 62 percent retracement level nails it. Lovely price rallies up. First target, yes. Second target, yes.
Get in here and symmetrical price swing exactly to the high. And we'll look at that in reference to what the actual price level is.
Okay? So it comes in at 1.1783, and the candle's high comes in at 1.1783. Can't get any better than that.
Crusade! Oh, all right. So I can take either one of these trades. It's just for your benefit to see it, see the pattern again.
All we're doing is looking for a hard time frame level, a short-term high to be broken, measure the swing or impulse leg up, referencing the body to body, lowest body portion.
That could either be an open or close to the highest open or close in the swing high. That's where you anchor your reference points.
I'm going to trace back down into an awesome trade entry. Let your buy first targets the old high, and then look for your projections on target one and target two and symmetrical price swing.
Beautiful example there. Hopefully, you found this insightful. Until next time, good luck and good trading.