Okay so in this video what we’re going to be discussing is my favorite candlestick pattern and most importantly is when you’re working with the candlestick strategy when does it work and when does it not work? Because the idea is every candlestick pattern should work instantly and that’s not the case. So watch the webinar and at the end of the webinar I’ll even share a trade with you that I’ve taken based on today’s knowledge and I’m sharing with you guys and show you live how a trade is done let’s get started. Hello, can everyone hear me? No no I’m just joking, I know you guys need a chat box hold on one second. Okay here we go, Good morning everybody, good evening, good afternoon. How’s it going? We’ve got three hundred and forty eight people in the room right now and Counting it’s great to have you guys here, it’s always fantastic to have you guys here! “I like chocolate” oh yes! So it’s good to see you a lot of you guys on Facebook live as well so it’s good to catch up with you guys for every webinar that I do I always have a an hour earlier before the webinar I open up Facebook live so we can chat have a good time have a drink together, have some cake together.
I’m always eating cake prior to my webinars so yeah. So how’s everyone doing? Where’s everyone from? Okay India Mexico London Serbia Germany Pennsylvania Africa South Africa Florida Sweden Hungary calling Sweden come on Australia Canada Bosnia Egypt Berlin Australia Guangzhou Hong Kong Ozzy in Thailand awesome Maldives, welcome Fayaz, Philippines Bolivia mucho gusto l lived in Bolivia for some times, I forgot all my Spanish I’m so sorry. Lived in Santa Cruz Bolivia so fantastic place nice people, nice people. Chennai UK just New Zealand Alberta Canada fantastic fantastic. So it’s great to have you guys all here. I’m going to be starting the webinar and shortly.
So today’s topic for those of you guys who do not know me my name is Navin Prithyani, I am your host today I am your mentor at urban forex.com and a senior trader at forexwatchers.com. Before we begin I like to know one thing I like to know one thing and that is: how many guys are new here first-timers? Excellent excellent, 116 people, 120 people have been here before. You know 120 how great is that how many webinars do you see around the world where people come back more people come back regularly than they do with new customers? This is something I’m very proud of I love you guys for it because we don’t waste each other’s time right we go straight into the stuff I respect your time because you show up here. You respect my time and we go straight into the topic right? So I love it I love it I love you guys for coming all the time. okay excellent excellent so all those new people in here welcome welcome all those returning people and students welcome back welcome back.
So let’s get this ball started let’s get this party started let’s go. okay, let me know if you guys can see my screen. All right so let’s do this let’s do this okay just updating Facebook live here we go. Let’s start okay so today’s main topic candlesticks candlesticks there is a common misconception when it comes to candlesticks. And what is that? What is the misconception when it comes to candlestick? Hum what do you guys know about candlesticks what do you know? Yes everything is recorded for those of you guys were asking about this.
Can everyone hear me is the audio okay? Ben “that they’ve the holy grail”. yeah I see a lot of your comments are coming from the course okay excellent I said okay and before we begin just really quickly guys if you guys can see my screen on the top right right here where my mouse is. That’s your connection speed to me. If that is a orange or something that means you have slow connection to me. As long as that thing is green that means you’re okay okay yeah if it’s green bar you’re gonna be okay boom boom boom. okay, let’s get started here, all right so um if I get disconnected just hang in there I’ll be right back I have two connections just in case.
Okay so candlestick candlestick now there’s a big misconception when it comes to candlesticks right everyone’s looking at candlesticks is like you know if I just study all the patterns I can trade all day long and I can predict the future. Right? And and so so the journey begins with you know let me buy a book on candlesticks and let me study everything about a candlestick and what they’re supposed to do correct? okay, now here’s the thing I want to ask you okay now this is an extract from the core basics course. How many of you guys actually have the core basics course? That came with the MPA how many guys have picked that up? Yeah excellent I said so this what I’m about to teach you guys isn’t extract from that basic that’s an extract from the course and we’re going to be talking about all the details around candlesticks and I think this is very useful and it’s something that everyone deserves to know so let’s discuss it.
Let me go into the white board real quick okay so here we go. When we see a candlestick okay we’ve got something like this we call a doji okay? We see something like this and if it’s colored in and then we see something like that hammer, inverted hammer and more exhaustion candle, you know we got several names for everything, you know we see something like this okay “oh yeah it’s engulfing” you know “the previous candle is engulfing the next candle”. So there’s so much stuff there right so much stuff there. Now today what I need you to understand is this thing. And I write it down for you guys.
I want you guys to remember this to the bone forget terminology focus on why. okay let’s face it for you to make money right, in trading if it’s regarding candlesticks, do you need to go stand up at a podium and show how much knowledge you have? Does your account balance say: “You know what the more words you know the more I’m going to pay you”. No, your only job in trading is to always understand what must I do and why does it work like that. It is never terminology learning systems learning strategies it’s the why. Why does something work? Make sense? So let’s take a look at this. Let’s say the markets are going up and then down and up and then down and then up and then in this area right in there, you see your doji or a gravestone or a bat pattern what does that mean? Okay, notice how many different answers that are coming up.
But everyone knows what the word is but no one knows what that means. Okay this is something whoever’s not typing I want you guys to learn and then focus on this because this is a very big problem you know when it comes to candlestick trading. Okay now what is that same thing occurred up here. okay so notice how things have changed now so now it’s like wait what ever happened to the candlestick design itself? Its conditional now isn’t it? Okay so keep that thing in mind and we’ll go deeper into this. I just wanted to tell you guys that it is all conditional always because the market does not play by the books. it is not a A+ B + C technique. Okay? So let’s take a look at it. Now markets are going up and up and up and then in here, okay, this is a tricky one, this is a tricky one, in there on the last move up that went up so hard Wisdom “Sorry I’m late” oh that’s unacceptable you know 400 people in here are very upset with you right now.
No I’m just joking, I’m just joking. Welcome, welcome and it’s recorded in case you missed something don’t worry. Let’s say you get your exhaustion candle right or your pin bar or your haram your inverted hammer and hammer and all the stuff just like this in red that big. Okay? Okay it’s all the other candles are like okay there’s that size, and that candlestick design shows up there. What does that mean? Okay also “sorry I’m late” Oh I feel like an Indian teacher you know like “oh if you’re late you stand outside the class” No it’s okay it’s okay if you’re late it’s fine. Okay so you see, you see that so now it’s telling us that there is some, okay, Ok candlestick pattern also location is one thing. okay so remember this stuff.
You guys want to take notes, take notes. Otherwise it’s recorded you can always rewatch it. Location is important the next thing apart from location, strength. What is the strength following before the candlestick pattern showed up? they’re very strong they’re very very strong so you have to keep this thing in mind right? So let’s take a look at this now in terms of logic now we’re gonna take a look at this in terms of log it…..t we’re gonna take a look at this in terms of logic and we’re gonna we’re going to take a look at this in terms of “what does it mean?”. Okay so the market are going up, okay, the markets are going up. They come down very very deep and then they go up again and then they stop.
Okay if I went to a higher time frame and I had to draw this in one candle, this is how it’s going to look like right, the opening price is here which is this price. The closing price is this one which is right there the highest point of the market was here which is like that, and you have a candle looking like this. What we are just doing is we’re now looking at the universe below based on one candle you know why? Because this is why a candle stick was made to begin with.
The rice trader back in the day who made the candlestick did not have a scalping strategy who was looking at the one-minute chart. He came in the next day he looked at one candle and he understood what happened that day and he’s like “gotcha I got it I know what happened”. It is a knowledge piece it is information. Make sense? Yeah it has to be green this whole thing but you guys get the idea. yeah it’ll be green. You guys are turning me to Picasso or something. But okay so yeah so now you guys understand now let’s take this even further let’s take this even further the markets are moving upwards and upwards and upwards and upwards and then close right there.
They close right there. Rogue trader, there is no lower shadow this was the opening price, there’s no lower shadow. Clayton you’re late – oh my god okay you can get behind Wisdom outside the classroom. Okay so if you take a look at this chart right here, if you take a look at this chart right here, and when we see this markets moving up and up and up and up okay and then the strong move down, okay if we have to draw just this piece, just this piece on the charts. So we got a movement here is the opening and here is the closing okay. So opening prices right here closing prices down here. This is completely red and then there’s this wick on top till there. Okay everyone gets that piece so far? Now prior to that you can see the movement has been slowing down, okay now why is this important to do it like this? Why are we trying to look at the universe below and above and try to put it into one candle? Why is this critical? Well take a guess, why do you think is it important to do this? Daniela very good, to see what the big boy can also see.
Okay now take a look at this if that same pattern occurred like this after all of this okay but, on the lower time for him all we see is like that. That’s what we see, but we have to see that, “ah this is now clearly visible to the big boys as well because it left a big wick on top”. This is what we call a faker on a lower timeframe. Don’t we? It’s like “ah that that was a false breakout on the higher time frame” or “sorry a false breakout from a range possibly”, we have so many words for it. Yeah you know false breakout, a probe a spike, we call it so many words.
But all it is or a railroad track right a candle that goes up followed by a candle that goes down this is another terminology railroad track, but the language of that is on a higher time frame that’s an exhaustion or pin bar or a rejection. Okay this is important to know, this is important, to know. QQQ:” I’ve been lately”. Is this like a new fashion man no no it’s okay it’s okay yeah you just been late a little bit everything’s recorded not to worry that’s were I just want to acknowledge that you’re here, don’t worry it’s okay. Okay so let’s, so everything clear so far? Does everything make sense so far? Daniela “Can we think of the faker is similar to v-formation?” In some way yes yes you can do but we’ll get into that later because that’s you know if we’re talking about v-formation now that’s different thing okay okay so so far so good? everything making sense? Now so the best pattern that I like are these two only okay these two are my favorite ones, however they need to be in the right spot, after the right strength.
Okay so so let’s take a look at this, let’s say on your higher time frame, okay on your higher time frame, take a pick a time frame any of you guys. Say one time frame that come to your mind whatever time frame. Okay four hours that’s the first one I saw, okay your four hour is coming down dramatically like this it’s a downtrend right? okay what’s the timeframe below the four hours? You know in multiples of three and four. We’ve got the one hour right? It takes 4 one hour candles to make one 4hour candle correct? So the markets are dropping down down down down down and then you come into the one-hour time frame and you’re looking at this as “I know my big boy is seeing this, he’s seeing down”. okay your 1 hour, the same thing looks like this. Correct something like that right? You see a little bit more detail of it like more microscopic correct? In this detail you start to see a pullback happen. Now pull back is starting to happen but on the higher time frame, do you think he cares? No so you have to also understand : Is a pullback significant enough that it makes a difference? Okay you have to understand that because why is a pullback important? If I draw a trendline for you guys, which direction is this market? It’s clearly down, if it’s clearly down sorry and my job saying the 4-hour is saying a sell, if my job is to sell but everyone on the planet is looking at a sell, can I make any money? So what do I need? what do I need? I need buyers so I need some kind of information that this boom okay everyone on the 60 minute just became a buyer because why? People chase.
People chase the market Khaifx “welcome” okay so everyone everyone chases the market very very late yeah? yes you chase you die, right it’s a common thing in the industry, everyone says that, you chase you die. Okay so once you see the markets moving upwards what does this look like now on a higher time frame? A little tail okay he’s starting to notice it a little bit the 4 hours guy. Good good it’s still a sell for him he didn’t become a buyer overnight. Only the 60-minute people became a buyer, right does that make sense? So far everyone with me? Okay so the 60 minute guy his eyes are like my job baby is to sell but the 60 minute guy is like oh my god did you just see that? We need to buy all the euros on the planet because everything is going up for a Buy and I don’t want to miss out on my Ferrari, so buy everything. Okay sell the house, sell the dog just buy Europe. Right so everyone mind goes into the buying buying buying right? So in this in this process of when everyone is buying okay, let’s take a look at this now.
Okay just here okay just here, you see a candlestick on top. That looks like this. What does that mean? okay so I’m gonna I’m going to introduce to you guys, a I’m going to introduce you guys problem number 2. I’m going to introduce you guys problem number 2. Now what is the second main problem that people look at? Problem number 2 is what is our job as much more intelligent retail traders? What is our job in this in this situation? What are we supposed to do? yes make money but what are we were supposed.. to sell right? If our job is to sell what happened in this situation is that our mind only gets fixated on the sell and we look at any signs, like a candlestick pattern that will judge us to get into the sell quickly without noticing what the hell was that? Why did it go up so quickly? Why is there so much power so now let me ask you the same question.
Does your candlestick matter outside of the context? No without context the candlestick is useless. It is basically you might as well watch TV instead and at least have a laugh. Not if you’ve done the MPA right? okay so you have the situation now the markets are going up, markets are going up right, we’ve talked about you know in some of the previous webinars that as the market starts to show some signs of slowing down and down and in this process, what about now? Now there’s two signs that are showing here, it’s showing us a sign that the crazy buyers who bought all this… Okay who what when okay Everyone focus here now, everyone up until here you all said it’s a sell right because that’s how the market sees it it’s a sell.
Clearly it’s a sell. As the sell happens here they still think it’s a sell in fact that’s when the sell begins. In that process of the sell the first move up that happens what does that do? Whoever was selling what happens to them? They’re stopped down. They’re not just stopped out they’re in panic this is what I tell all my elite students. They’re in panic right, they’re in panic. They’re like “oh my god oh my god what just happened?!” Panic means okay I’m gonna give an example : If I put you in on the street suddenly, and then I blindfold you and then I remove your blindfold and you see a car coming at full speed towards you will you have the guts to take action immediately or are you gonna freeze out of panic? This is what happens initially when people panic is there action? There is no action remember that there is no action in the panic mode. But after the panic when you see the markets are going and making higher highs what do you do now? Now you buy, now you take action.
Right so if you, if you can now see and predict the human behavior of their actually entering buys up to this area. No one bought over here Good we have stage number 1, we got everyone wrong-footed, we got everyone in the wrong direction and the 4 hour guy is like “I still want to sell”. Right he’s like “I don’t care, this is nothing to me”, but on the 60 minutes the guys are all like “oh my god what is happening the world is coming to an end, I thought it was a sell”. Correct? So in this whole process when you see this and you’re like okay well I just saw my candlestick pattern there is some relevance to it now the market is slowing down I know everyone’s a buyer but I know that big boy is a seller.
Now you have conflict of interest, this timeframe says buy, higher timeframe says sell. okay yeah good I can see a lot of students are paying attention in the course. This is what we call the money spot, the conflict of interest. It’s what’s important to us it’s the money spot. It’s where all the action is going to take place, okay. So in this process when you see this two things happen.
What does this look like on a lower timeframe? okay if this was red. It means the market went, started from here, they went up they crashed down and lower than before. That’s how it looks there’s the opening price, there is the closing price. Which means what? They did not respect this support, that is your first sign of there’s a problem. That’s what that candlestick actually means that support and resistance just got violated right because this is your support resistance record that support is supposed to hold the market. “I killed 30” yeah so when when you see this when you see this you’re like “okay I see some signs of my support getting violated”. If my support is getting violated what does that tell me about the big boy? Why is my support getting violated? This whole time – I’m going to change my color so you guys can see – this whole time my support kept pushing higher and higher and higher, but now my support starts to get violated.
Now remember what I asked you guys earlier of how you guys think about this I’m going to ask you now the same question. Is it too messy the chart or can I keep going on the same chart? okay okay I wanna keep going I’ll keep going I’m not gonna redraw it just just stay focused. Same thing happens here. Who thinks of a sell at this stage? Tell me, which public thinks of a sell at this stage? They don’t, they don’t think of a sell. okay there might even be some similar designs in here for exhaustion candle and they got burned by getting into early last time. Okay, then the markets will go somewhere like this create all of its doji’s and all of that stuff you know grey stones and then when the market collapses, what happens to the public? “oh yeah you remember that pattern that showed up that was a sign for a sell of course”.
Yeah obviously that’s right at that time yes. But who got in? Everyone who gets in is now trying to attempt to hit the sell, hit the sells hit the sells what’s the problem with attending and hitting the sells here? You are now in the presence of buyers, you’re in the presence of buyers and everyone is hitting a sell here even though the market might further continue down it’s not going to continue down without a nice bounce. So somebody asked me this question on Facebook live – is a facebook lifestyle working for you guys I heard someone saying the video froze or something like that. yeah still working? and am I still okay you can feel it see me eating my cake okay all right- yeah okay you know why sometimes I’m always laughing when when some of you guys come and tell me “hey I just got in late” it’s because I’m laughing is I can imagine someone just entering the webinar now and you’re looking at the screen you’re like “what the hell is going? what are you guys doing? There’s no way I’m gonna understand this stuff, I’m just gonna leave”.
Alright so yeah so those of you who came in late and don’t worry it’s recorded you guys can rewatch it it’s very powerful that’s why it’s a it’s going to look a little bit weird if you come in late but don’t worry the next example is gonna make more sense okay? okay now now okay so far so everyone with me so far? Theory is okay? Is the theory side good with everyone? let’s go step into the practical? Okay let’s put it on a chart now. okay let’s go put it on a chart yeah someone is someone, I just saw in a really nice comment saying “the key is not to jump into early” very good Chris – very good because your trading is like this gauge it’s this meter okay? This side is early, this side is late.
If you need to trade right there like right here, that’s where you need to trade if you’re too early you’re gonna get stopped out if you’re too late then what’s going to happen? You’re going to need a very very white stop-loss and you’re chasing the market you might even get spiked out, okay? It it’s like our parents taught us, everything in moderation Navin, everything in moderation. It’s the rings in my ears those sentences you know.
So it’s the same thing in trading everything in moderation. Okay all right now let’s take a look at some charts let’s take a look at some charts. Now Bela’s there is no timing webinar because timing is an advanced subject. How many guys already have timing in your 4-course bundle? yeah okay we got a few people in here okay. Those of you guys who have timing do you guys feel that yes if you got this information earlier you wouldn’t have much success with it? yeah and that’s the reason why I have to pick and choose what I do in the webinars because anything that goes a little bit too advanced it’s going to create the opposite reaction of people they’re going to get confused and in fact when they go home and they try it and they go practical because that’s what we trained you to do right it’s not just theory go practical when you go do practical you’re going to have some losses and that’s not good.
And that’s the last thing we want you to do right? So we have to be very careful with layering your education piece by piece in the right order the right order. okay all right so let’s do this on the chart let’s do this on the charts. okay Asser “please go to all the AUDUSD you will have an excellent example” okay okay oh wait wait wait there’s an actual example right here first hold on hold on. Okay so we’re looking at this chart , 4 hours chart right what direction is our 4 hour chart? Our big boy. Just like we did last time what direction? Okay so here is problem number 4.
I’m going to do a Facebook live on this kind of stuff. Problems number 4 – I feel like I’m doing a countdown of all the problems – problem number 4: How much information are you looking at? Are you looking at stuff from here? or are you looking at stuff from here? okay if you’re training 4 hours as your big boy and sixty-minute as your timeframe that you want to trade, does it matter what this whole move is doing? That’s like last month. It’s too far back – that’s problem number four. too much data too much data okay it’s a common problem Even the MPA students when they start off they have this problem with territories and stuff. That’s why we are covering this extensively in the core basics course and I made it very very affordable for everyone to take it up so because it’s critical I think it’s critical okay? Excuse my cake, all right let’s take a look at this on USD CHF on the 4 hour.
So we’re looking at a market that seems to be going up pull back up pull back up it’s got all these sequences right? All right all right let’s take a look and all these movements that are going up and up and up. In this up movement when this pullback starts to happen do you think in that pullback what is the 4 hour boys thinking in that pullback? Are they afraid of it? Or are they like “who cares, support and resistance”. Can you guys, can you guys see my screen? Is that better? okay yeah sorry about that yeah, I thought when you guys ment to zoom in,I though you want me guys to look at the 60 minute but okay I got it. All right they’re looking at it as support resistance they are like “I don’t care that the support and resistance for me” You know that’s perfectly fine, now let’s take a look at mr. 60 minutes, let’s go down to the 60 minutes. Now since we’re on the 60 minute here Up until this stage anyone thinking of a sell.
Nope until this stage anyone thinking of a sell. No until this stage it moves down drastically, which means what? yeah which means stopped out for anyone who’s buying very late because everyone buys late right? Which means stopped out, so that’s stage 1 stop out. Which means, we don’t have any sellers yet. I’m not buying if there’s no sellers. okay? They’re just stoped out, they’re in panic mode. Okay what we need is something more dramatic, okay we get the next dramatic move Oh, get the next dramatic move, try to even make a lower low. okay? Activities for sells begin activities for sells begin. Now in this phase of sells that are beginning in here, we’re still monitoring one major incident of “how many people are getting in on the sells?” okay we might be looking at “maybe I should be buying it from here because looks like the sellers have died the buyers have come in okay and we’re getting ready to go long”.
What happens if you’re wrong ? Right, what happens if you’re wrong with that one? okay so your first trade just by trading it very simply very very simply your first trade stop-loss but here’s the thing when that stop what happens chances are you’re not The only one many people might have had a stop loss. but what do you think people are doing when they see this? Do you think they panic? yeah even the buyers now who thought they were smart even they start selling. yeah it’s the “oh my god” itself. okay with these patterns shows up now something here, a candlestick pattern. The candlestick pattern shows up there it’s telling you that we got a nice exhaustion but the market is so much in a downtrend how do I even know that this is supposed to be for a buy? Let’s take a look back at this on the four hours and see well what are they looking at it as? They still don’t really care when we’re watching now when the market comes back up and closes for the four hours let’s take a look.
Market comes up and it closes right here. On the four hours and the one hour it closes right there. Now can you tell me from this movement down okay would you say this movement down is aggressive? It’s pretty aggressive right? This is where your test comes in of how good are you at patience its aggressive what are you going to do you’re going to stand by are you going to pull the trigger? Stand by .
You see, you see your exhaustion candle, but now you’re confused you know your exhaustion candle or your PIN bar or your hammer and inverter however you want to call it that thing that’s thing showed up that you like, and now you’re like “oh my god I like that thing it’s a sign of my big boy coming back but the strength doesn’t allow me to get in yet I am Not sure”.
Waiting a little bit and seeing this information come up, once this information come ups like that can you now tell me on the hour on the hour what do you see? It’s the same exhaustion right? Now let me let you in on a little secret, let me let you in on a little secret. I’m going to go back down to the water it’s the same catalytic patent correct the one that we like.
I’m gonna go back down to the one hour and I want you to monitor closely of do you see this thing here? And do you see this thing here? Can you tell me the difference between the move down and the move up? David, very good, the power, so the moment that it went down we were like “I’m not really sure”, but the moment it went up faster were like “okay now I trust the exhaustion candle”, and that’s when you can say “it is now safe for me to try to enter this trade, the odds are in my favour”. Doesn’t mean I can still can’t be wrong but the odds are now lining up. So what I’m trying to tell you guys is Do you see how your candlestick does not mean anything until things line up? Do you see inside a candlestick pattern there is more detail that we have to also pull out? Just like we saw the same candlestick pattern the four hours but, going to the one hour we saw something we wouldn’t have noticed on the four hours.
Small details big results big big results but everyone’s too busy and just identifying what they see and what it’s supposed to do and that’s incorrect you need to know why. You must know why okay So how many guys right now as your first aha moment with me or you’ve had previous aha moments with? yeah good good because that’s the whole purpose of these webinars is to make sure you have a breakthrough and you learn something that you can apply instantly and you go home smarter and by the time you come into the next webinar you’re like “oh my god my head is blowing up with so much research and so much information what’s next?” okay This is why our webinars are the biggest and the badasses webinars out there. We don’t waste time and we don’t talk garbage we do not talk garbage, which is not a book you pick up from you know you know a cheap you know idiots for dummies or whatever it’s called.
Okay you need to learn trading for what it really is. It’s not just patterns and simple like that. It’s not just patterns are simply like that, there – it is more complex but it doesn’t have to be, and that’s why you know, I’m here for you guys, you know that’s why I’m here forget there was no one there for me when I started everyone would teach me so in such complex ways that learning something like this would have taken me three weeks. I broke it down for you guys in under 50 minutes okay and not to mention it’s recorded you watch it as much as you want. Yeah so one of the things, okay so here comes now the problem number 5, problem number five okay? There’s the problem number 5. People will enter at the sign, the first sign of this because they cannot control themselves. Okay alright now let me ask you guys one question,let me ask you guys one question. I’m gonna go into problem number six now, okay, Is there an important question that I want to ask you guys okay? Now that I’ve given you guys a few minutes to let all the information sink in, you know roll back your tongue into your mouth that your jaws might have dropped so okay now what I want you to tell you is the next situation is : What if you enter here and your stop-loss is here and your take profit is back here recent high.
What kind of risk to reward is this? Okay okay this is something I want to straighten up with you guys today okay I want you guys to answer me as clearly as you know the industry the entire industry When you buy a house how much percentage profit do you make on that house in one year? On average 5% 10% 12% sometimes loss okay When you invest in the stock market in indexes like SNP 500 how much money do you get on return in a year if you put your money in a fixed deposit account as savings in your bank and it’s a lot the way if you can’t touch it anymore how much do you earn? So I want you guys to answer me this one question why is a 1 is to 1 which is 100 percent return looking so bad to you? Why does that make you feel inferior? Where else are you going to get 100 percent return? See it’s the main problem with people when they come into forex they forget that they’re in the same world that everyone else lives in and they need to first get started. 100 percent is already the next level it’s like a level people cannot imagine. But yet they want to make 400% 500% 1000% in one single trade you have to graduate to that level you have to go there slowly.
Okay what happens if your take profits a little bit lower I miss less than 1 is to 1, is that bad? ok see, everyone out there you know for the sake of teaching they want to teach that you want you need to have a lot of risk reward and this and that yeah yeah if you’re going to be wrong all the time yes you need to risk reward. But if you want to be stable and consistent you know there is also, you know there’s a safety of going with the you know that the safety is a wider stop loss you have a safety net okay now how many of you guys can now use this to your advantage and even trade part time? If you’re trading part time you get you see this thing you’re on the 4 hours and 60 you look at this you open your phone you’re like yeah good enough, good enough for me. Enter risk to reward, close that phone and spend time with your family, like what is so wrong about that? Like literally what is so wrong about that? What is it that compels you to make you know five R out of this one little trade you know five risk to reward or three risk to reward because what the industry tells you so? Have you ever tried a 1 : 1 R? See here’s the thing this is another example that people don’t know because they never tried it they just listen to the industry and they say well everyone says I shouldn’t do it so I guess that’s right.
But everyone doesn’t make money that’s the problem. This isn’t forex factory, where everyone hides behind a fake username they don’t have the balls to use their own username on Facebook, like people can do in Facebook and they hide behind it and they can be like you know you need to listen to me because I know what it’s all about. It’s not a way to go and you can’t listen to stuff like that there’s no credibility.
Okay so aha moments yeah all the problems that you guys have gone through today how many of you guys actually found out that there is some situations that you can fix instantly today? How many of you guys had that breakthrough today? Is it difficult what I taught you? No absolutely not, and we always say this in the course as well you know I need you to always repeat the mantra you know if you want to say or the cult. The cult chance that we do “it’s not hard it’s easy” yeah it’s easy. Because you need to train your mind to do anything. You need to train your mind to do anything.
Okay I believe one of you guys pulled me about the AUDUSD let’s take a quick look at that, we got some more time with us here today let’s have a quick look and see what that’s all about. okay AUDUSD I don’t see any candlestick patterns no don’t see any candlestick pattern that you guys can use. Take a look at NZDUSD maybe, ah here’s an interesting one! Take a look at this one. What does that tell you? Now now think very carefully what color the candle is? and why is it that color? why is it – why is the color green? yeah why is it green? why is it not red? it is still up that means the opening price was here the market went up it got rejected and it closed here. Does that tell you anything about support resistance being rejected? No that means that sign is not good even though it looks like an exhaustion or a hammer and ball whatever you want to call it but now you have an idea in your mind that “hey there’s some rejection but the rejection is not strong enough”.
Okay? EURCAD 4 hours? let’s take a look, ah here’s let’s take a look at this one. You see this one right here? There’s a nice rejection there let’s take a look at that shall we? So this is the 4 hours markets are in a downtrend in this downtrend marks are going down down down down down and we’re looking for a some kind of a pullback right we’re looking for a pullback there well I go can we trust this? San we trust this? And can we do the sell? so let’s take a look at this how it looks on the one hour. Now markets start to move up here first can everyone see my screen just fine? make it bigger? is that better? okay markets are moving up now if I draw this the same downtrend line, do you think at any of these points anyone has turned a buyer? No absolutely not.
Okay We saw an exhaustion candle here right on the four hours does everyone remember that? I’m going to show you I’m going to go back to the four hours I’m going to reshow it to you again so you guys can see it it was a strong move up followed by a move down and it looks so nice let me go to the 4hours Yeah as everyone agree? that looks so nice what a big rejection from the top. “Navin school after MPA and 4CB” what’s this? I don’t know what you’re showing me – oh okay you’re showing a trade that you did – okay um sorry we’re all that yeah everyone everyone see this exhaustion the violation whatever you want to call it a rejection from here? everyone see that yeah? Now when I go down to the 60 minute I want you to tell me what does that pattern tell you when you look at it like this. Can you tell me if that’s a rejection? Tell me the up movement, tell me the down movement.
Very good you see clicks clicks clicks your brains are working faster now you guys are picking the stuff up good yeah strong up no strong and unless download so does a sell collapse from here? No that means there’s still buyer pressure coming. okay and that these kind of things tell you when to stand by and when not to take a trade you got to be careful of these things. okay so here’s another example of when you see a candlestick you can’t just blindly trade it nor you can’t use like a candlestick they can say well it’s going to be perfect because this is also support resistance no no no you can’t do it that way also, it’s not going to work like that, just because there’s a support resistance and a candlestick that it should work like that, you need more detail you need more detail.
Make sense? Excellent excellent okay so it is now 8 p.m. here also 9 a.m. in New York City time once again I want to tell you one thing that I really appreciate you guys taking the time to be here are you guys going to be here for the next webinar? We’ll have one in exactly two weeks and how soon do you guys want the recording? How soon do you want this recording maybe I’m thinking I I won’t release the recording for this one. I’m just kidding yeah I’ll get you guys a recording within 24 hours everything is done we’ve taken care of everything audio quality and sound quality everything is going to be perfect so thank you all for coming I hope I didn’t waste anyone’s time we went straight into the topic and I look forward to seeing you guys next time cheers guys have a wonderful day bye for now.
All right guys it’s Wednesday June 21st now for me this is several hours after the webinar and in the webinar some of you guys asked me you know if I can show a life create I think in the webinar or on Facebook life when you guys ask me. And so I am taking a trade here and I recorded it on purpose to show you I wanted to get you an example as sooner, sooner rather than later so I can include this with the webinar and this is a trade that’s actually happening live so um a lot of a lot of information that went in to make taking this trade comes from the webinar it’s a very straightforward trade a very simplistic approach basically something from the mastering price action course, you know very simplistic, you know very straightforward instead of going to the complex and very advanced stuff that we do in the 4 course bundle course, because and that’s why I don’t share a lot of my trades like that because it won’t make any sense so for the level of the Mastering Price Action course, this is a generic trade if you just look at this it’ll make a lot more sense and you will get an understanding of okay I see why he took this trade, especially going with the webinar that we went over today or earlier today you know things will you know tie and took place with when you see your candlestick designs and stuff like that.
So I’ll go ahead and pause it right now and we’ll you know we’ll resume later on. Okay so welcome back so it’s just only a few more minutes after the trade just hit take profit and the total time for this trade was basically around fifteen minutes or so so I took the trade took it for around three point five standard lots for those of you who work in units I took around 350,000 units on this thing, and this you know it turned out something small at one 129 USD you know, something I want to do something small so I can show you guys the trade lies because a lot of you guys keep coming to me and asking well can you show me something live? And I thought if I can find something today – I can’t do it live in a webinar all time right because it’s hard to spot a trade that’s actually happening then and there all the time so I need to do my analysis to my research I’ve got to do all that stuff and I don’t want always time in the webinar doing all that stuff um you know again going through the process of thinking and putting this the pieces together so this is the trade for you guys a trade that was you know a video from the pre and then that I discussed it and then after I actually even haven’t even updated the elite community and you can see this was like nine minutes ago when I posted it saying that it spotted a small fifteen minutes old on the USD very small trade and almost classified as a scalp so so there you have it there is a complete trade for you on AUDUSD cool Cheers
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In this webinar Navin uses Trading View for his charting software. You can get your free 30 day trial here : https://tradingview.go2cloud.org/SH35X