Home Trading Strategies Best Trading Opportunities (November 2019) | Price Action Analysis

Best Trading Opportunities (November 2019) | Price Action Analysis

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Best Trading Opportunities  (November 2019) | Price Action Analysis

hey hey what’s up my friend so in today’s video I just want to share with you some of the best trading opportunities that I’m seeing right now for the man of November now here’s the thing right I have a lot of you know requests from traders watch me here now why don’t you you know do some live trading man right so we can see how you trade life so that’s kind of like asking someone who runs a marathon hey why not do 100 meter sprint man I’d like to see you sprint life do you see where I’m coming from right the reason why I don’t do it live trading is because I’m not a day trader I’m not a short-term trader I hold traits that could last for weeks or sometimes even months right if I do right a trend so my trading is more towards a medium to long term approach then let’s say if I you know enter on the daily timeframe and the trade lasts for a week you don’t expect me to record the trade for the full one week right which is like hiring 20 hours right it doesn’t make sense so this is why I don’t do any live trading because that’s not my trading style kind of like asking someone who runs the marathon hey why not couldn’t do a 100-meter sprint I want to see how you run it’s a different ballgame altogether so so the closest thing right you can get to live trading is this type of a market analysis right I share with you the top process why I’m looking to enter a trade how I’m looking to enter the trade manage the trade exit and much more all this is called before before the thing happened right so this is not based on hindsight this is all based on the here on the now before the trading setup even occurs and if you like such videos right towards the end of today’s video I will share with you on how you can actually get them bought the premium membership and get such videos to your inbox every single week so with that said okay let’s begin right the first market that I want to to talk about is Ozzy Canadian so if you look at Aussie Canadian you will see that this market is in a downtrend okay so we can see that series of lower highs and lower lows okay lower highs and lower lows right it’s very obvious in a downtrend so at this point right the trend is down and the next question I ask myself is that you know hey I want to be selling this market where is the area of value to be selling so area of value could be stuff like you know resistance swing highs the upper channel right so from what I’m seeing right now the area of value right now is that this area of resistance so let me just draw it out you see this is the area of resistance hey and what I’m seeing over here is that this market has entered what I call a volatility contraction you notice are in the range of the candles it has shrine right considerably compared to the earlier preceding candles like this move over here like this move over here expansion and volatility expansion and volatility expansion and volatility over here we have a reduction in volatility over here we have a where else over here a reduction in volatility so what I’m seeing now again is reduction in volatility and here’s the thing right the way the market moves is it moves usually from a period of low volatility to high volatility and back to low volatility vice versa so you can see that right now prices in a downtrend it’s an area of value and it’s in a volatility contraction so from what I’m seeing right now I’m my figure out is that if the price could break below this lows this market could possibly retest this area of support over here and I want to be shopping this market if Aussie Canadian breaks below this this the swing low let me just go down to the lower timeframe alright the forward timeframe you can see it clearer in fact it looks something like a descending triangle here this is the area of support so if the price breaks below this low I will be looking to shop off the Canadian my stop-loss right will be 180 are above this highs so the ATR is very simple go to the daily time frame indicator pull out ATR I typically use a 14 sorry 10 period ATR sorry 14 period ATR alright SMA I click OK and in this case tarah ok so you can see that this is a 14 period ATR it’s currently about 50 pips ok sorry I typically use the 20-period ATR but again it’s not gonna make much of a difference here so 20 period ATR which is about 20 trading days and a month it’s about 50 pips so what I do is I find out what’s the highs over here and I add on additional 50 pips and get will be my stop-loss so what about target profit right so I’m looking to capture a swing in this in this market and for target profit I as I mentioned right this area over here is possible targets where potential buying pressure I mean so my target should be at this around the 89 cent level however right one thing to point out is that if you look closely right this over here is a minor area of our resistance where previous resistance that could now act as support okay so I am aware of this and the price or I could possibly come down lower and then reverse from here and if that happens right what happens is that I will see my winning trade turning to losses and so to manage this trade right to anticipate that this area could possibly be become previous resistance that could occur support right I want to manage this trait if the market showed signs of reversal at this this area so what this means is that if the price let’s say it comes down into this area comes down comes down over here here around the medicine level and starts to show reversal if it breaks and close alright the previous day high it breaks and close above the previously high I will manually exit this trade right even though you know it let’s not hit this target over here I will manually exit this trip because now the market is showing signs of reversal and you could possibly no retest back this area of resistance so yeah that’s what my plan is okay so this is all Zee Canadian we’ll see how this one plays out another market to share with you is pawneean getting another volatility contraction pattern that’s occurring over here so just zoom a little bit right you can see that the big picture for pound is dead it’s generally in a huge range right you can see that you actually kind of like bottomed out at this 126 50 level over here right and previously was testing at this area so it came here really all the way back down right and right now it’s hitting up higher he has we know been breaking market structure he has been breaking the levels over here broke this now it’s coming to this level and my my thinks that it could possibly know break up higher as well so how I’m looking to trade this is very simple okay so as you’ve seen earlier right market moves from a period of low to high volatility and vice-versa so I see a volatility contraction over here and the thing about this pattern right is that sometimes you know or often right traders they enter the trade too early like maybe that the Kendall is just consolidating for like 3 or 4 candles they quickly look by the break out of this highs and so for me right away I kind of like give this this district enough time to store its potential energy is by looking at the 20ma so what I like to see right is their twenty Emmy right slowly catch up with price right because usually what happens is that you’ll notice right that they 20 m in starts to support this higher prices this status serves as an area of value right where potential buying pressure could come in so at this point I can see that right now that 20 ma is pretty near the price already so what I’m looking to do is that to me this the market is out right for a breakout and I’ll be looking to place a buy stop order above this highs my stop-loss right we’ll just go 180 are again just below this swing low right will should be somewhere about here as for targets okay so for this particular trade possible targets is that this are 146 247 area about here okay this is where potential selling pressure could come in right so this is possible targets for you to look at or if you just want to capture a swing in the market so this is a pound yen and let’s see what else can I share with you a platinum right platinum so platinum right you can see this market again right now I just zoom a little bit you can see that it broke out of this range okay broke out retest stage I gotta move higher and right now retest back this previous area of support again so a couple of ways this could play out right so the first very simple straightforward trading setup is what I call a false break this is where the price did a Falls break below this lows over here so it comes down lower and it uh southern hundred eighty degree reverse or higher closing back above this area of support so when this happens right you can imagine a traders who who when shot right on the breakdown of this lows right there now trapped because the price breaks below the lows and then did a sudden reversal closing back above support so this group of traders who are now short at this lows are now trapped because the market has moved against them and as the market goes higher I can imagine that these traders who I shot their stop losses are probably somewhere here here or maybe even over here as the market moves up higher you would hit this a cluster of stop-loss right which will trigger it or further by pressure right and that’s what I would hope to see right if that happens okay so looking for false bricks set up on this on this commodity possible targets right would be around the 940 there $40 level which is around around here yeah you can see from the chart somewhere about here okay another way this can play out right is to be in the form of what I call a break off structure so if you look back right historically at this area over here on the forward timeframe you’ll notice that this market on this time frame actually give you clues that is about to break out higher so you can see that it came into this area of support then it forms somewhat of a double bottom here and here then you can draw this area of resistance over here and notice you have a series of higher lows all right coming into this area resistance price then broke out of it okay so this to me is a sign of string right the bias is you know ready to push the price higher in this case the market did a breakout reverse back into the range before finally you know hitting KTM higher okay so right now to me right the same phenomenon phenomenon could occur but maybe with a slight variation to it but a key thing that I’ll be looking for is for the market again to form into a range okay then start to consolidate right at this obvious area of resistance and I’ll be looking to buy the breakout of this area of resistance half my stops right again just one ATR below this low so this is it’s one of the earth so-called price action pattern that I’ll be looking for this is what I call a build up a resistance alternatively right and not a common variation to witnessed at that price we just come down from a somewhat of a inverse Head & Shoulders pattern right and then break up or it could form like a DS a sorry ascending triangle as what you’ve seen earlier it is portion here that could happen as well okay so there are different kind of you know different ways the market structure could unfold itself and it’s very important to cut up you know plan all this ahead of time right where is it journaling down your thought process or whatever works for you okay so this is platinum and just one last thing to talk about it so let’s talk about Europa so Europe pond or you can see it again right now there’s this phenomenon happening again right price smash through lower volatility contraction pattern right and right now each it’s broke below this low and could possibly retest this area of support over here now the question is right do you want to shut this market so I’m just wondering you know leave you with something to think about so ask yourself this question right so you know that the price is now I know broke below this this lows right so let me just get out the tool okay so let’s say you you went shot over here at this level okay no way okay this is the wrong tool let me just get this shot position over here okay so nosh your self right where we know you know your possible targets is that this area of support because this is where potential buying pressure could come in and so it doesn’t make sense to be selling your TP level below here because it has to break this area of support which is a pretty strong level so again right TP right we’ll logically be somewhere about here just be before this area of support so now what about your stop-loss right as yourself okay so let’s say your stop-loss is over here does it make sense to have your stop loss at this level okay so if you ask me I would say no because you know that this is a area of resistance all right why do you want to set your stop blocks right within the so called the noise of this market within the the range of this market it was if you go down to a lower timeframe you realize that this is actually a range right over here so why do you want to set your stop loss right within this range if you were to set a proper stop-loss it has to go above this area of resistance above market structure so you could set it I mean conservatively the closest would be at least over here above this highs but again right resistance is an area so what could happen is a market goes above this highs and then collapse down lower and then you get stopped up because your stop-loss is just above resistance in other words you you got stop hunter so if you ask me or if you want to set a proper stop-loss it has to go at least right one eighty are above this area of resistance so possibly somewhere over here right this is all say about 180 are above this this highs so at this point in time right you’ll see that from your risk to reward okay your risk to reward your risk is this much okay and your reward is possibly from here to here so ask yourself right do you want to be you know taking this trip this is a potential risking a dollar to make 37 cents so I I leave it to you right again I think most of you will not take it because the risk to reward doesn’t really justify it but the top process that I have over here is to kind of whenever you put on trade you know excess right how much could you potentially make on this trade if you are right or rather how much could the market move in your favor before it faces opposing pressure and compare that with how much are you risking on the trade with having a proper stop-loss duster risk to reward justify if it does you’re comfortable with it take the trade if you’re not move on and look for something else okay so this is why I’m not sure if I mentioned is another way to kind of like to to make the math work out for this particular trade is that let’s say if the market were to let’s say on EDA what time frame K it goes back up swings back up into this area of resistance and that’s a false break and your entry could not be near this house over here now this totally changed the risk/reward equation because now if that happens right you could actually shift up let’s see your let’s see all your targets is to the same place or your entry could not be somewhere here your stops right let’s see that same place somewhere about here okay your targets was previously not below let’s say your entry somewhere about here consider now in the risk to reward right can be skewed in your favor but provided that provided the market comes to the area of value that you’re looking at provided the market comes to the level then you want okay so I hope this uh you know make you think deeper about your own trading right I’m not here to spoon video but rather to mean you think deeper about your actions right the protein content and the stuff that comes along with it now if you’ve enjoyed the market analysis right now I want to welcome you to join pro traders age right this is my premium membership right where you will get such market analysis every single week all right I usually publish this type of videos on a weekend to share with you my my insights of the market the trading opportunities I’m looking at the trades I took and much more so that’s not all right because as a pro traders each member you get many benefits that come along with it so for example you have access to the backtest research lab so this is a lab right where I pretty much bet the financial markets to tell you what works and what don’t in the financial markets so we have a different stuff going on we have you know things that talk about stock markets quantitative trading and much more so all this over here in the backtest research lab and i regularly you know any new lessons new findings that i have in the financial markets then also we have the weekly trade alerts this is basically right the video that you have seen earlier but 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