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

Best Trading Opportunities (October 2019) | Price Action Analysis

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Best Trading Opportunities (October 2019) | Price Action Analysis

hey hey what’s up my friend so welcome back to this month’s market analysis right I’m going to share with you the best trading opportunities for October so in videos like this right I share with you my top process right – why I’m entering a trades how I enter where I enter where I exit and stuff like that and also you know I share with you my winners my losers and and hopefully right you can learn something from it so this is something that I actually publish each week in Pro traders age if you’re interested I’ll share more details with you later but for now let’s get started so the first first market that I am looking at this man Ryan is actually New Zealand Canadian why is that right we look at this chat New Zealand Canadian ok zoom a little bit you can see that this market is overall in a downtrend series of lower highs and lower lows so I know the Train is down ok the Train is down the Train is down great so now the second question I always like to ask myself is you know where is the area of value on the chart where is a level or area on a chat where I want to shut this market so I’m looking at this right and I kind of realize that this market is in a healthy trend if you pull out the 50 ma it tends to you know respect the 50 period moving average right bounce once came down lower second time bounce lower and right now it’s approaching back this area of value once again and you can see that this area of value also coincides with this swing higher okay so previous support became resistance and became possibly to become resistance again around the 5815 period moving average so this to me is an area of value that I want to be trading from I want to shot around this area so from the looks of things right a possible trading setup that could happen is that on the lower timeframe right you can see that the two hour time frame let me just get rid of the 50 ma the two hour time frame it seems to be no going into somewhat of a range over here at this point right market makes a pullback staged a rally then a little bit of a slight pullback and right now I’m still you know between the highs and this lows over here so my bias must have mentioned I’m looking to shot this market and one possible right entry setup that could present itself is that the mug it makes another lower high right retesting back this our this swing low so you get something like AD sending triangle you have a series of lower highs coming into this area of support so if I do get a breakdown right if I get this in on lower highs into support I get a breakdown I’ll be looking to shot this market and have my stop-loss 180 are above this highs over here okay the ATR value is based on the daily timeframe ATR and the reason is simple all right if you look at a daily timeframe I don’t want to set my stop loss just above this high because the market could just consolidate right trigger my entry goes up back higher right remain in this range finally and then it breaks down right so you can see that this over here right is within an area of value in naturally you don’t send your stops in an area of value necessary away from it away from market structure so that’s you know how I trade it that’s how it I’m looking to trade it and that’s why usually you see my stocks right it’s a way from market structure away from support and resistance not smack inside those highs and lows okay so this is for New Zealand Canadian market worth watching this week another one to share it’s uh oil ok oil WTI so you can see that over here oil right now it seems to be somewhat of in a range okay you can see that this market had a rally right I think over the weekend with the news the Saudi Arabia huge spike up higher and then you know after the news he pretty much reverse back lower back towards the lowest of around 51 dollars so you can see it’s contained within the range right of about you know 50 60 dollars 65 and around this 51 level and right now the price is at this area of value so if you ask me what is this current market structure right now it’s in range okay and in range on the buy low sell high so you gonna buy support sell resistance and right now the price is that this area of value this area of support so again just because price is that support doesn’t mean how to buy right I want to see right where there is a sign of strength coming in buyers coming in to push the price higher then that’s where I get on board the trade I like to enter right after the price has showed me around after a market has stilled its hands right showing me that it’s about to move higher so I like to move right after the train has just take off I don’t like to to enter right when the Train is still against me so again right how am I gonna treat me as a kid again price is an area and an area of value on the 2 hour time frame right I can look for market structure to trade off so you can see the at this point of time right generally the market seems to be you know in equilibrium between buyers and sellers previously you have a series of lower highs okay and at this point right price break above the previous swing high and then it collapse back down into this this range right so not the range this new range okay looking something like a potential accumulation stages between these highs and this lows so needless to say right if I want to be buying I like to see price right showing signs of strength breaking out above this area of resistance so what I hope you see is price comes up might get something like a ascending triangle probably comes up retest down lower higher low like this finally breaking up right if he breaks out here again I’ll be looking to buy and go long again stops will be 180 or below this low over here another variation right of this a sign of strength is price could also form a built up in a high so price comes up higher and then form a tight consolidation so at this point right it’s very useful to kind of use the 20-period moving average right and you’ll notice that when you start to slope up higher seems to be not supporting the price over here right so like you know it’s kind of like the twin DM is nothing to hold and support the price if that happens again I’ll be looking to buy the breakout of this highs so if you just pull out your 20 ma now still the still way below so you can see that up that hasn’t happened yet okay so that it’s just a quick tip for you right whenever if you want to buy break up with a built up you can use the 20 ma to give you like a clue right to when the market is you know ready to break up so this is a crude oil so let’s say I do get a trade right my trigger entry trigger got triggered how will I manage to create so let me talk about this so when I manage the trader I like to ask myself right where is the opposing pressure likely to come in so if you begin to buy we’re on the chart right my sellers coming where would sellers look to shut the market so that’s a very question so from the looks of this chant what I’m seeing that sellers could possibly be lurking at this area of resistance so if I want to consider taking profits or I capturing a swing this would be a good possible target around this area to take profits or if I’m looking to write a trend right then when the price reached this on this area right I want to maybe adopt a more aggressive write a trailing stop loss so so I don’t have to give back too much of my open profits when the price which is this area where opposing pressure is likely to commit okay so there’s a couple of techniques right – to manage your trade depending on whether you just want to capture a swing or you’re hoping to you know write a bigger move like writing a trend and if you’re coming to this key area right if you’re writing a trend you can consider it or tightening up your trailing stop loss so you don’t give pet you know too much open profits okay so there’s a couple of things to think about and moving on right let’s talk about Bitcoin so bitcoin is actually discuss right in last month’s market analysis the September 1 so if you like to do to recall what I spoke about right it’s generally generally I was saying that you know this is buried because you have a series of you know lower highs coming in to support then we’re gonna break down this this this a few weeks ago so now what if you’re not in a trade right so one thing I want to share with you is that a mistake right and many traders make is that when you see the price break down noise so Oh so Barry’s write you something like this right or or rain or men look how bearish this chat is rayna’s have to go a shot chop-chop so they do look to sell but the problem right with selling and this particular point in time even though the price looks very bearish even though it looks like a high probability shot because look at you know how bearish the candle is how big the candle is right the problem with this right is there usually isn’t a logical place to send your stop-loss if you ask me the nearest market structure to set your stop losses and here previous support becomes resistance and you know I don’t like to just set it above it I usually give you some buffer so possibly you’ll be somewhere here so you can see that the distance from your stop-loss to your entry is gonna be pretty done in white so this is why I always say I don’t chase the market let the market come to you so where could the market come to you so a couple of scenarios over here the one right which I think could possibly happen is that the market forms a someone like a consolidation right a bear flag pattern right and it breaks below this lows over here right this loss let me just redraw this it breaks below the swing low okay and if that happens right now you can reference this highs as your market structure this swing high is your market structure instead of referencing this original level that you had previously because now new market structure is form you can reference the new levels right to set your stop loss okay so this is why you know it really pays right to to be patient and let the market develop before you enter treat instead of blindly chasing because you know it feels like the right thing to do okay so this is where you know you can get a title stop-loss by referencing this highs as stop-loss okay so first scenario is that you can look to shut the breakdown of this lows right as a trend continuation trade and the market hits down lower possibly retesting around the 6,000 level no it’s a psychological level the 6,000 level you just zoom out a little bit you can see that this 6,000 level it’s a pretty key over here the most recent ones got almost to the the area before the price had a strong rally and previously this was the area of support just before the break down so 6,000 level is definitely a level right worth watching the other scenario right to shop Bitcoin is so I would say around this area previous previous a what I call it supports and resistance right this area over here okay so there’s a couple of areas and levels to look at for Bitcoin right if you want to shock this market and finally right just to to share with you right it’s not really a trading setup but rather just a follow up of the trade that we spoke about last month’s market analysis we talked about pounding it right say I said also bearish on this price right again this is a this is stuff that have been covered right last month’s market analysis if you missed it just go and watch it right this is a stuff that was in a way put away before him so as it’s not something along the lines of you know prices in a downtrend okay price is in a downtrend then we are at this area of value previous support and resistance over here okay so let’s call this our trend is down and a where resistance and the entry trigger is on the lower timeframe was the two hour time frame you will see that there is a break of structure over here so at this point okay you have this consolidation and at the point your lower high and when a price break right below this area of support right you know I have a lower high and low so this tells you at the bias they are losing you know their strengths right the sellers are starting to take control that’s why you have a series of low high and low low and on top of it right recall right the trend higher time frame using the downtrend and your trading from an area of failure at resistance so to me this is a valid trading setup to go shot according to my rules right so I went short price in this case did win in my favour and I told myself right that if the price were to retest this I said that the price you at least retest this area over here where no previous resistance or swing high could become support so once it did retest this level now I’m looking to kill my stop-loss right using the previous stay height which is at this level here so if the price right now will to break and close above the previous day high I will exit the trade so that is a trick management technique that I’m using right – to see how far the price can still go in my favor I have no idea how far you’ll go maybe you can retest this area of support maybe can’t so this is why I have this a so called trailing stop loss technique – to let the price show me right how much he wants to reward me make sense 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 back test the financial markets to tell you what works and what don’t in the 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