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Hello, traders, and welcome to Section 5 in this course. Guys, I'm confident that you have enjoyed
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the first half of this course so far.
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Before I start explaining the final key technical indicator in this strategy, I want to revisit what
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we've learned so far.
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So the first major form of technical analysis that I've told you in this course is major support and
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resistance levels where you studied:
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How to plot multi-year support and resistance levels on your monthly and weekly charts.
2 How to convert
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these levels into zones to analyze present price action in-depth on daily and 4-hour chart.
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And finally, using these in-depth analysis, how to identify sideways price activity or
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price consolidation phase.
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In addition, by answering these three questions, you are able to identify a possible buy or sell set-up
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which will be available on any pair in the near future.
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Moving on, I explain the second key element of this strategy in the form of major candlestick patterns
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where you studied:
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Ten very important candlestick patterns and how they become an integral part of the support and resistance
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trading strategy, using the guidelines mentioned for each candlestick patterns or formations, you
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learned how their appearance on a trading chart becomes extremely important in our analysis.
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Finally, you studied how these patterns are often linked to high profitability trades once they combine
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with key resistance and support zones on daily and 4-hour charts.
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Therefore guys, these candlestick patterns when combined with key support and resistance zones, are
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able to present trading opportunities in real-time guys. Any trading strategy is incomplete without
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the confirmation of every buy and sell position that you're going to take.
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After all, it is our hard earned money and we will only succeed if we invest smartly.
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While support and resistance zones identify the possible set ups, which any trading instrument will
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offer and appearance of one of the candlestick patterns alert you as a retail trader when that setup
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occurs in the real time.
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And finally, volumes or trading volumes, which is the final leading indicator in this strategy linked
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to that candlestick pattern, provides the final confirmation to your analysis and what will happen
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in the future.
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Guys, this also concludes the quick recap of the course so far, and I will see you in the next lecture where
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we start trading volumes and their importance in a freely traded market.
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