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hello good afternoon how's everybody
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doing today huh
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i hope you guys have had a fantastic day
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trading so far
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and more importantly i hope you've had a
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fantastic time with these lessons that
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i've developed for you guys
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since you guys are my students i really
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do highly encourage you
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to post as many questions as you guys
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can alright
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make sure you're reaching out to me on
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udemy and i will be 100
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more than happy to answer as many
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questions as i possibly can
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in in less than 12 hours i'll make sure
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that i get you guys in a very timely
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manner because
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since you are my students since you guys
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have made the investment
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it's absolutely my obligation to ensure
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your success because you guys are now
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officially my students believe it or not
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and i have not taken any students ever
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and i really do
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hope that you guys have enjoyed the
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material thus far
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so let's do a quick summary of what we
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have covered so far
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in the previous six lessons welcome to
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lesson number
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seven where we'll be going over what are
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technical indicators
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and how are they used okay this is going
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to be more of a general just talking
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about technical indicators
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the different kinds of different things
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that people use as well
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and especially what i personally like to
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look for
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in tactical indicators and the reason
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why i'm
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using them myself so so far guys
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we have talked about the introductory
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introduction class
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which covered a lot of the terminology
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so now you guys should be able to
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converse with me
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to some extent right whether you're new
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or a beginner or an intermediate
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i'm sure that you guys are having a lot
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more familiarity with a lot of the lingo
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that's used
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imagine coming into the scene guys and
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not knowing anything at all about what
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anyone's talking about
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imagine watching my elliott wave videos
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for the first time
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as a very new trader it'd probably be a
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little bit overwhelming
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right but now you guys know a lot more
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of the common terminologies used so i'm
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very happy that you guys are
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graduating to a different level of just
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from beginner and newcomer now
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so what separates the superstar status
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from the mediocre
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we talked about that we talked about how
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it was basically
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dealing with your emotions right
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emotional stability
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is very important and we factor out the
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emotions
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by making sure that we stick to our risk
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management
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right risk management is a way for us to
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minimize our losses because we want to
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make sure that we protect
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and preserve our capital and our money
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that we've made
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so we can actually grow it as well and
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then thirdly we have to make sure that
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we trade like a casino
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because we don't care about the single
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wins we just care about
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winning well over time and when you
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think of trading like a casino where you
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will win something
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you will lose some and it's all about
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odds and probability you guys are going
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to have a much higher success
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especially when you add less than three
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into this as well
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where you're focusing on dollar cost
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averaging
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when you dollar cost average and you
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ladder your buys
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it ensures that you're not stuck in one
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particular
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position and it allows you to add more
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if it actually gradually goes down
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but if it doesn't go down then it allows
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you to actually add more to your
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position
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on strength then lesson four
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was definitely one of my favorite topics
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there reading the level two order book
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understanding what the bids and the asks
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are
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and also just being able to read in real
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time
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what these momentum changes are so
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lesson five was also to scare you guys
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it was to instill a lot of fear which is
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what i wanted to do
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i wanted to talk about what is longing
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where to go long
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what is too short or shorting what is
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margin trading
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what are the risks and what is leverage
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trading as well right and i wanted to
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make sure you guys understood
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all about the liquidation process
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because to me this is
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incredibly important for you guys to
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understand the risks
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and i really don't recommend that you
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guys even leverage okay
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definitely don't recommend leveraging
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whatsoever stay away from it
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because what we want to focus on is
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actually making sure
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that we focus on good trades last thing
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you guys wanted there's this side here
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that's focusing on making money and the
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better side here
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is focusing on making sure that you guys
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are taking
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good trades because when you take good
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trades the profit will naturally roll in
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so always focus on playing the game
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right
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not winning if you focus on playing the
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game right you will naturally win
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as a bonus okay and then in the previous
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lesson
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we talked about the necessity of charts
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right which was how to customize
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trading view right customizing trading
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view is a very important and crucial
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step
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so let's get into this guys let's get
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into lesson seven
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and we're going to talk about what our
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technical indicators and
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how are they used so let's get into this
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guys
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let's go over a lot of the different
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types of common tactical indicators okay
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when i first started out trading guys
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you know what i did
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i read a lot of technical analysis okay
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i read tons of technical analysis and i
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always wondered
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what does this stuff mean right
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so i kept reading through them and
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eventually got to the point where i
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didn't really understand
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what it was actually going to mean so
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then
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i said to myself all right every single
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time
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i actually don't understand what a
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definition
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is i'm actually going to google it
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this way i'm going to have a very clear
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understanding
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of what the heck they're talking about
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because i wanted to understand
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the actual lingo and now it's very rare
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for me to read a technical analysis and
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not understand
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exactly what they're talking about right
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so let's go into some formal definitions
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first of all
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okay so let's go to wikipedia here which
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we're going to in just a second
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and we're also going to go to
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investopedia
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this is actually a wonderful site for
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you guys to actually check this out
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just in case you actually don't know a
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lot of these definitions you can go here
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type in the definition and it will give
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you a really good definition
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of what it actually is so what is a
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technical indicator
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well a technical indicator they're
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derived from mathematical statements or
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mathematical calculations
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based on things like the price based on
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the volume right
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and this way it gives you a way of
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analyzing
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historical data right that's what it's
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saying right here
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so technical analysts will use these
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indicators
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to predict what the price is going to do
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so some common ones are for example
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relative strength index
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right money flow index is not really
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used uh stochastics which we're not
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going to go over because it's not what i
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personally use
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right macd is something i absolutely use
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all the time
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that's moving average convergence
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divergence
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boiling your bands i personally don't
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use it myself right
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so we see these technical indicators for
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example
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one very common tactical indicator that
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we use
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is relative strength index right now
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we're going to go over
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so many different kinds of technical
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indicators now i want to talk about the
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philosophy
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and the principle of what a
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technical analyst actually is okay
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so let's talk about this right here
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let's talk about the characteristics
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of what is a technical analyst
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versus a fundamental analyst okay what a
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fundamental analyst actually does
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is they focus on doing things such as
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they'll focus on things like what is the
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coin doing
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right what are they trying to develop
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what product are they actually making
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how are they marketing themselves what
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are kind of
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timelines that they have where they're
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going to release a product right
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did they just make a new partnership
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with a different company right
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that's these things are really important
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for example
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you know um just random example
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is when for example ripple right they
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actually formed a partnership with
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apple right apple actually realized
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that hey ripple's uh transactions time
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is actually really
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cheap and very fast as well and of
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course apple is a big adopter of modern
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types of technology
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and that's why ripple actually ended up
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soaring
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in january to much higher highs and
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other coins despite bitcoin dropping
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so for example that would be a form of
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fundamental analysis
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where we're looking at what is the
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company doing did they form a
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partnership with anybody right
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did they do something really new like
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are they are they able to make a really
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large
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announcement sometime very soon so
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fundamental analysts
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they don't really look at technical data
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because they look at the x or the
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external factors
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outside of that right that will actually
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give them an idea of is it a good time
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to
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invest or not now there's big arguments
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in the world between technical analysts
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and fundamental analysts right
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but a technical analyst just to read you
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guys the formal definition right
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they employ models and training rules
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based on price and volume
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transformations
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and indicators such as relative strength
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index right
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so these are very important to
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understand so in contrast
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to fundamental analysis approach to look
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at security or stock analysis right we
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don't really do things like
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looking at hey what is the company doing
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00:09:51,519 --> 00:09:54,560
right now
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00:09:52,640 --> 00:09:56,080
are they going to make a partnership or
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anything like that so
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00:09:56,080 --> 00:10:02,320
our principle glides in here okay
300
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our core principle of technical analysts
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00:10:02,320 --> 00:10:05,360
is that
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we believe the market's price it
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00:10:05,360 --> 00:10:09,279
reflects
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00:10:06,240 --> 00:10:10,000
all relevant information that impacts
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00:10:09,279 --> 00:10:12,880
the market
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00:10:10,000 --> 00:10:13,920
in that specific price right we're in
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00:10:12,880 --> 00:10:16,000
the charts
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00:10:13,920 --> 00:10:18,560
we believe everything is seen in the
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chart a technical analyst looks at the
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00:10:18,560 --> 00:10:21,920
history
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00:10:19,440 --> 00:10:22,640
of a coin or a cryptocurrency here
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00:10:21,920 --> 00:10:25,200
rather than
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external things such as economic
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fundamental or
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00:10:26,240 --> 00:10:29,680
news events right we believe that the
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price
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action tends to repeat itself and that
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00:10:32,480 --> 00:10:35,680
there's
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patterns and there's behaviors that are
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00:10:35,680 --> 00:10:39,760
identifiable
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00:10:36,880 --> 00:10:41,680
so we like to look at the past data that
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00:10:39,760 --> 00:10:44,399
will actually give us a really large
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00:10:41,680 --> 00:10:45,120
clue to what can happen in the future
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00:10:44,399 --> 00:10:46,800
because we
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personally believe guys it's our
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00:10:46,800 --> 00:10:51,920
principle as a technical analyst
327
00:10:49,040 --> 00:10:54,320
it's our core belief that everything is
328
00:10:51,920 --> 00:10:56,240
easily identifiable based on price
329
00:10:54,320 --> 00:10:57,600
trends and conditions in the market
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right so we
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00:10:57,600 --> 00:11:01,279
personally believe that trends are very
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00:10:59,600 --> 00:11:04,160
easily identifiable
333
00:11:01,279 --> 00:11:06,160
and we use these technical indicators
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00:11:04,160 --> 00:11:08,880
that tells us a story
335
00:11:06,160 --> 00:11:10,399
so make sure you guys are understanding
336
00:11:08,880 --> 00:11:13,440
that this course of mine
337
00:11:10,399 --> 00:11:14,240
is geared solely towards learning how to
338
00:11:13,440 --> 00:11:16,640
do
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00:11:14,240 --> 00:11:17,680
a technical analysis rather than
340
00:11:16,640 --> 00:11:20,720
fundamental
341
00:11:17,680 --> 00:11:22,720
now yes i do also read news i make sure
342
00:11:20,720 --> 00:11:24,800
that i read the news in terms of hey
343
00:11:22,720 --> 00:11:26,079
what is bitcoin doing did they form some
344
00:11:24,800 --> 00:11:28,079
partnership is there some big
345
00:11:26,079 --> 00:11:28,959
announcement is there a fork but
346
00:11:28,079 --> 00:11:32,480
personally
347
00:11:28,959 --> 00:11:35,360
i i trade based on 90
348
00:11:32,480 --> 00:11:36,959
technical analysis and probably 10
349
00:11:35,360 --> 00:11:39,120
fundamental analysis
350
00:11:36,959 --> 00:11:40,079
i'll still keep up to you know coindesk
351
00:11:39,120 --> 00:11:42,320
or
352
00:11:40,079 --> 00:11:43,360
or whatever website you know for news
353
00:11:42,320 --> 00:11:44,959
publications
354
00:11:43,360 --> 00:11:47,040
just to make sure i'm caught up with all
355
00:11:44,959 --> 00:11:47,519
the relevant news but at the end of the
356
00:11:47,040 --> 00:11:50,399
day
357
00:11:47,519 --> 00:11:52,560
i will solely rely on these technical
358
00:11:50,399 --> 00:11:55,839
indicators that's going to paint a very
359
00:11:52,560 --> 00:11:58,880
vivid picture for me
360
00:11:55,839 --> 00:12:01,279
the best way to think of a chart is to
361
00:11:58,880 --> 00:12:04,800
see it as something that tells a
362
00:12:01,279 --> 00:12:07,120
story right it tells us story
363
00:12:04,800 --> 00:12:09,360
and these tactical indicators are
364
00:12:07,120 --> 00:12:10,000
actually going to be used to give us a
365
00:12:09,360 --> 00:12:12,240
gauge
366
00:12:10,000 --> 00:12:13,040
of what is happening in the current
367
00:12:12,240 --> 00:12:15,519
market
368
00:12:13,040 --> 00:12:16,399
by taking and these indicators will take
369
00:12:15,519 --> 00:12:18,560
calculations
370
00:12:16,399 --> 00:12:19,920
they'll do mathematical calculations
371
00:12:18,560 --> 00:12:23,200
behind the scenes for
372
00:12:19,920 --> 00:12:26,240
us that can identify some common trends
373
00:12:23,200 --> 00:12:29,519
so let's talk about a technical analysis
374
00:12:26,240 --> 00:12:32,480
that i just googled really quickly
375
00:12:29,519 --> 00:12:33,760
to see what they're talking about okay
376
00:12:32,480 --> 00:12:35,760
let's just talk about it
377
00:12:33,760 --> 00:12:38,720
very quickly this one was from just
378
00:12:35,760 --> 00:12:41,360
yesterday for example on may the 4th
379
00:12:38,720 --> 00:12:43,200
so let's talk about some of the things
380
00:12:41,360 --> 00:12:45,360
let's read it out loud together
381
00:12:43,200 --> 00:12:46,959
and let's actually go over it one by one
382
00:12:45,360 --> 00:12:49,200
excuse me i have to cough really quickly
383
00:12:46,959 --> 00:12:49,200
okay
384
00:12:50,160 --> 00:12:54,320
all right so what they're saying here is
385
00:12:52,959 --> 00:12:57,040
ethereum price
386
00:12:54,320 --> 00:12:58,720
jumped higher sharply and moved above
387
00:12:57,040 --> 00:13:01,680
the 780
388
00:12:58,720 --> 00:13:02,160
resistance level above the us dollar
389
00:13:01,680 --> 00:13:03,680
right
390
00:13:02,160 --> 00:13:06,000
so here they're talking about a
391
00:13:03,680 --> 00:13:08,160
resistance okay so what is
392
00:13:06,000 --> 00:13:09,839
a resistance let me show you guys what a
393
00:13:08,160 --> 00:13:13,360
resistance is okay
394
00:13:09,839 --> 00:13:16,160
a resistance is basically a price
395
00:13:13,360 --> 00:13:16,720
where it's having a lot of trouble
396
00:13:16,160 --> 00:13:19,839
breaking
397
00:13:16,720 --> 00:13:20,160
okay think of it as an actual resistance
398
00:13:19,839 --> 00:13:22,639
a
399
00:13:20,160 --> 00:13:23,519
place where it's having tons of trouble
400
00:13:22,639 --> 00:13:26,240
breaking
401
00:13:23,519 --> 00:13:27,440
now what would a support be guys a
402
00:13:26,240 --> 00:13:30,560
support would be
403
00:13:27,440 --> 00:13:32,720
if you set it right a support
404
00:13:30,560 --> 00:13:34,079
is a place where the trouble has a lot
405
00:13:32,720 --> 00:13:36,720
of trouble breaking on the
406
00:13:34,079 --> 00:13:38,480
downside right so we're also going to go
407
00:13:36,720 --> 00:13:40,560
over some more terminology
408
00:13:38,480 --> 00:13:42,000
just to make sure that you guys are kept
409
00:13:40,560 --> 00:13:44,639
familiarizing yourself with
410
00:13:42,000 --> 00:13:46,079
it and so we can exercise a lot more of
411
00:13:44,639 --> 00:13:49,360
it as well
412
00:13:46,079 --> 00:13:52,399
so there is an ascending channel
413
00:13:49,360 --> 00:13:55,199
forming at 760
414
00:13:52,399 --> 00:13:56,880
right what is a channel okay they're
415
00:13:55,199 --> 00:13:59,279
talking about a channel
416
00:13:56,880 --> 00:14:00,800
like this right here this is what we
417
00:13:59,279 --> 00:14:03,680
call a channel
418
00:14:00,800 --> 00:14:04,880
that's moving like this oops i drew it a
419
00:14:03,680 --> 00:14:06,880
little bit poorly there
420
00:14:04,880 --> 00:14:08,000
so this is a channel just to give you
421
00:14:06,880 --> 00:14:11,040
guys an idea
422
00:14:08,000 --> 00:14:11,600
so think of an actual channel okay think
423
00:14:11,040 --> 00:14:14,320
of it as
424
00:14:11,600 --> 00:14:14,880
two parallel lines that are actually
425
00:14:14,320 --> 00:14:17,760
moving
426
00:14:14,880 --> 00:14:19,279
inside of it like that right that is
427
00:14:17,760 --> 00:14:20,959
what we call a channel
428
00:14:19,279 --> 00:14:23,360
so let's go over some more things that
429
00:14:20,959 --> 00:14:25,760
they're talking about right
430
00:14:23,360 --> 00:14:26,480
let's go over here now there was a solid
431
00:14:25,760 --> 00:14:29,040
increase
432
00:14:26,480 --> 00:14:29,519
in buying interest as ethereum price
433
00:14:29,040 --> 00:14:32,399
moved
434
00:14:29,519 --> 00:14:34,079
above the resistance level yesterday we
435
00:14:32,399 --> 00:14:36,240
discussed that the price could move
436
00:14:34,079 --> 00:14:40,240
above the 725 level
437
00:14:36,240 --> 00:14:40,720
if not it if not only broke the 725
438
00:14:40,240 --> 00:14:43,600
level
439
00:14:40,720 --> 00:14:44,160
right or sorry it not only broke the 725
440
00:14:43,600 --> 00:14:47,279
level
441
00:14:44,160 --> 00:14:51,120
but moved higher by more than 50 dollars
442
00:14:47,279 --> 00:14:53,519
during the upside it broke 765 dollars
443
00:14:51,120 --> 00:14:55,920
and 780 resistance levels
444
00:14:53,519 --> 00:14:58,720
so they're not really talking about um
445
00:14:55,920 --> 00:15:01,519
any indicators here yet okay
446
00:14:58,720 --> 00:15:02,240
at the moment the price is correcting
447
00:15:01,519 --> 00:15:06,079
lower
448
00:15:02,240 --> 00:15:08,000
from 789 but remains well supported
449
00:15:06,079 --> 00:15:10,560
so what they're talking about is the
450
00:15:08,000 --> 00:15:10,959
price moving downwards but it's finding
451
00:15:10,560 --> 00:15:14,800
a
452
00:15:10,959 --> 00:15:17,519
floor think of support as a floor
453
00:15:14,800 --> 00:15:18,560
right that that might hold the price at
454
00:15:17,519 --> 00:15:21,360
that place
455
00:15:18,560 --> 00:15:22,160
and think of the resistance as an actual
456
00:15:21,360 --> 00:15:23,920
ceiling
457
00:15:22,160 --> 00:15:26,240
where it's having a lot of trouble
458
00:15:23,920 --> 00:15:28,560
breaking through it but eventually
459
00:15:26,240 --> 00:15:29,519
all ceilings do get broken and
460
00:15:28,560 --> 00:15:32,560
eventually
461
00:15:29,519 --> 00:15:34,800
all supports could break through as well
462
00:15:32,560 --> 00:15:36,720
but sometimes we find a support or a
463
00:15:34,800 --> 00:15:38,560
floor that it simply cannot
464
00:15:36,720 --> 00:15:40,959
break through because the floor is just
465
00:15:38,560 --> 00:15:43,120
too strong okay
466
00:15:40,959 --> 00:15:44,480
so let's talk more about some level some
467
00:15:43,120 --> 00:15:46,639
tactical indicators here
468
00:15:44,480 --> 00:15:47,519
right so for example here they're
469
00:15:46,639 --> 00:15:50,959
talking about
470
00:15:47,519 --> 00:15:51,759
ethereum trade price traded recently
471
00:15:50,959 --> 00:15:55,839
below
472
00:15:51,759 --> 00:15:57,040
this 236 fibonacci retracement level of
473
00:15:55,839 --> 00:15:58,880
the last wave
474
00:15:57,040 --> 00:16:00,160
so they're talking about fibonacci
475
00:15:58,880 --> 00:16:02,560
retracement right
476
00:16:00,160 --> 00:16:03,600
and this is more so just an introduction
477
00:16:02,560 --> 00:16:05,440
class to what
478
00:16:03,600 --> 00:16:08,160
charts are right or what technical
479
00:16:05,440 --> 00:16:10,160
indicators are so fibonacci is actually
480
00:16:08,160 --> 00:16:12,639
further down guys right we're going to
481
00:16:10,160 --> 00:16:16,079
be talking about fibonacci retracement
482
00:16:12,639 --> 00:16:16,959
and fibonacci extensions level 15 and
483
00:16:16,079 --> 00:16:18,880
16.
484
00:16:16,959 --> 00:16:20,320
but to give you guys a very quick
485
00:16:18,880 --> 00:16:24,000
overview of what
486
00:16:20,320 --> 00:16:26,240
fibonacci refers to okay fibonacci
487
00:16:24,000 --> 00:16:28,320
is this tool right here i'm going to
488
00:16:26,240 --> 00:16:31,519
grab my drawing tools up here
489
00:16:28,320 --> 00:16:32,480
fibonacci is a sequence and it's a ratio
490
00:16:31,519 --> 00:16:34,320
of numbers
491
00:16:32,480 --> 00:16:36,399
found in nature it's part of the
492
00:16:34,320 --> 00:16:39,600
fibonacci sequence of numbers
493
00:16:36,399 --> 00:16:40,160
and it is by far the most amazing set of
494
00:16:39,600 --> 00:16:43,040
numbers
495
00:16:40,160 --> 00:16:44,399
in the universe it is found everywhere
496
00:16:43,040 --> 00:16:46,560
in nature guys
497
00:16:44,399 --> 00:16:48,320
you can find the fibonaccis literally
498
00:16:46,560 --> 00:16:50,079
everywhere in nature
499
00:16:48,320 --> 00:16:52,399
ranging from the way our bodies are
500
00:16:50,079 --> 00:16:55,120
actually shaped from our navel to our
501
00:16:52,399 --> 00:16:56,639
to our i forgot exactly how it is but
502
00:16:55,120 --> 00:16:58,959
you i'm sorry let's talk about the
503
00:16:56,639 --> 00:17:02,079
golden ratio first of all okay
504
00:16:58,959 --> 00:17:05,280
the fibonacci numbers they actually form
505
00:17:02,079 --> 00:17:08,240
a set of ratios okay and in these
506
00:17:05,280 --> 00:17:09,679
fibonacci numbers there's this one
507
00:17:08,240 --> 00:17:12,480
golden ratio
508
00:17:09,679 --> 00:17:13,600
and the ratio is called 618 if you see
509
00:17:12,480 --> 00:17:17,120
it right here okay
510
00:17:13,600 --> 00:17:20,319
the 618 fibonacci ratio this is the most
511
00:17:17,120 --> 00:17:22,799
beautiful number in the universe
512
00:17:20,319 --> 00:17:23,600
i kid you not okay this ratio is
513
00:17:22,799 --> 00:17:26,079
actually found
514
00:17:23,600 --> 00:17:28,160
everywhere in the universe ranging from
515
00:17:26,079 --> 00:17:30,880
the way the galaxies are actually
516
00:17:28,160 --> 00:17:31,840
shaped and helixed around each other to
517
00:17:30,880 --> 00:17:34,960
the way our
518
00:17:31,840 --> 00:17:35,520
genes and our dna is actually helix in a
519
00:17:34,960 --> 00:17:38,400
coil
520
00:17:35,520 --> 00:17:39,039
to the way seashells are shaped as well
521
00:17:38,400 --> 00:17:41,520
to the way
522
00:17:39,039 --> 00:17:43,360
sand is actually shaped to the way
523
00:17:41,520 --> 00:17:45,520
architects design buildings
524
00:17:43,360 --> 00:17:46,720
to the way our bodies are proportional
525
00:17:45,520 --> 00:17:49,600
to each other
526
00:17:46,720 --> 00:17:51,200
so we find the fibonacci ratio
527
00:17:49,600 --> 00:17:54,320
especially the golden ratio
528
00:17:51,200 --> 00:17:55,919
618 everywhere in the universe and the
529
00:17:54,320 --> 00:17:59,600
good news is it's actually
530
00:17:55,919 --> 00:18:02,240
found in charts as well
531
00:17:59,600 --> 00:18:03,520
this is why we're always going to hear
532
00:18:02,240 --> 00:18:06,080
people talk about
533
00:18:03,520 --> 00:18:07,440
the fibonacci retracement level which
534
00:18:06,080 --> 00:18:11,919
we're going to go over in
535
00:18:07,440 --> 00:18:13,919
very high detail in another video
536
00:18:11,919 --> 00:18:15,120
so let's keep going here and talk more
537
00:18:13,919 --> 00:18:16,799
about things here
538
00:18:15,120 --> 00:18:18,960
so here they're talking about an
539
00:18:16,799 --> 00:18:20,720
ascending channel right
540
00:18:18,960 --> 00:18:22,799
they're talking about an ascending
541
00:18:20,720 --> 00:18:23,760
channel just to get some terminologies
542
00:18:22,799 --> 00:18:26,559
out of the way
543
00:18:23,760 --> 00:18:27,120
so this is what an ascending channel is
544
00:18:26,559 --> 00:18:30,480
guys
545
00:18:27,120 --> 00:18:32,960
an ascending channel is where the price
546
00:18:30,480 --> 00:18:33,919
tends to move upwards in a channel like
547
00:18:32,960 --> 00:18:35,200
this okay
548
00:18:33,919 --> 00:18:37,120
i know that they're not just talking
549
00:18:35,200 --> 00:18:39,679
about indicators but we're going to talk
550
00:18:37,120 --> 00:18:42,720
about a lot of different terminologies
551
00:18:39,679 --> 00:18:44,320
and also about these different different
552
00:18:42,720 --> 00:18:46,000
indicators in here as well
553
00:18:44,320 --> 00:18:47,840
so this is an ascending channel where
554
00:18:46,000 --> 00:18:51,280
it's moving upwards what do you guys
555
00:18:47,840 --> 00:18:51,280
think the descending channel is
556
00:18:52,000 --> 00:18:55,440
yeah if you guys actually said that this
557
00:18:54,000 --> 00:18:56,640
was actually a channel that's moving
558
00:18:55,440 --> 00:18:58,880
downwards like that
559
00:18:56,640 --> 00:19:00,880
that's exactly what it is right this is
560
00:18:58,880 --> 00:19:03,600
a descending channel
561
00:19:00,880 --> 00:19:04,400
where the price tends to move in line
562
00:19:03,600 --> 00:19:06,799
like that
563
00:19:04,400 --> 00:19:07,600
so it's actually com it's actually
564
00:19:06,799 --> 00:19:10,960
bounded
565
00:19:07,600 --> 00:19:11,440
by a resistance right so a resistance
566
00:19:10,960 --> 00:19:15,120
doesn't
567
00:19:11,440 --> 00:19:18,160
always have to be uh horizontal right
568
00:19:15,120 --> 00:19:20,080
it can also be sloped like that so this
569
00:19:18,160 --> 00:19:20,799
is the the ceiling right this is the
570
00:19:20,080 --> 00:19:22,799
floor
571
00:19:20,799 --> 00:19:24,000
where it's actually coming down this
572
00:19:22,799 --> 00:19:25,919
particular way
573
00:19:24,000 --> 00:19:27,919
and this right here is actually the
574
00:19:25,919 --> 00:19:28,320
ceiling where it's coming down just like
575
00:19:27,919 --> 00:19:30,880
that
576
00:19:28,320 --> 00:19:32,720
okay so let's get into some even more
577
00:19:30,880 --> 00:19:33,360
terminology about what they're talking
578
00:19:32,720 --> 00:19:36,080
about
579
00:19:33,360 --> 00:19:37,200
so now they're just talking more about
580
00:19:36,080 --> 00:19:39,760
the same things there
581
00:19:37,200 --> 00:19:40,400
right so now let's go down even more
582
00:19:39,760 --> 00:19:44,400
here
583
00:19:40,400 --> 00:19:47,440
the hourly macd is placed nicely
584
00:19:44,400 --> 00:19:49,360
in the bullish zone right
585
00:19:47,440 --> 00:19:51,280
so what are they talking about when it
586
00:19:49,360 --> 00:19:55,039
refers to the macd
587
00:19:51,280 --> 00:19:57,679
so the macd refers to the moving average
588
00:19:55,039 --> 00:20:00,799
convergence divergence okay it's
589
00:19:57,679 --> 00:20:04,480
actually this top one right there
590
00:20:00,799 --> 00:20:07,039
so the macd in very brief detail
591
00:20:04,480 --> 00:20:08,080
what it does is it refers to the moving
592
00:20:07,039 --> 00:20:12,080
average
593
00:20:08,080 --> 00:20:15,440
convergence divergence and we use a term
594
00:20:12,080 --> 00:20:16,480
called bullishly diverging bullishly
595
00:20:15,440 --> 00:20:18,720
converging
596
00:20:16,480 --> 00:20:19,520
right those are kind of the terms that
597
00:20:18,720 --> 00:20:22,159
we use
598
00:20:19,520 --> 00:20:24,240
quite often is it converging is it
599
00:20:22,159 --> 00:20:27,520
moving closer to each other
600
00:20:24,240 --> 00:20:28,080
is it bullishly diverging right so for
601
00:20:27,520 --> 00:20:31,280
example
602
00:20:28,080 --> 00:20:33,120
on the macd here what it shows you are
603
00:20:31,280 --> 00:20:35,039
few things just to give you guys a very
604
00:20:33,120 --> 00:20:38,000
basic detail of it right
605
00:20:35,039 --> 00:20:38,240
it shows you two lines right here what
606
00:20:38,000 --> 00:20:42,080
is
607
00:20:38,240 --> 00:20:45,360
red okay one is red
608
00:20:42,080 --> 00:20:47,120
one is blue one is called the 12 to 12
609
00:20:45,360 --> 00:20:48,720
fast line and the other one's called the
610
00:20:47,120 --> 00:20:51,520
26 fast
611
00:20:48,720 --> 00:20:53,280
line okay so what this refers to which
612
00:20:51,520 --> 00:20:54,000
we're going to go over in very high
613
00:20:53,280 --> 00:20:55,840
detail
614
00:20:54,000 --> 00:20:57,600
if you guys just take a look at here
615
00:20:55,840 --> 00:20:58,320
this is just more so an introduction
616
00:20:57,600 --> 00:21:01,600
class
617
00:20:58,320 --> 00:21:03,679
lesson 13 is what is the moving average
618
00:21:01,600 --> 00:21:05,200
indicator and we're going to go over
619
00:21:03,679 --> 00:21:08,000
that in very
620
00:21:05,200 --> 00:21:08,640
very very high detail because we need to
621
00:21:08,000 --> 00:21:10,640
go over
622
00:21:08,640 --> 00:21:12,000
moving averages before you guys have an
623
00:21:10,640 --> 00:21:15,280
idea on what this
624
00:21:12,000 --> 00:21:16,320
is so the moving average there are many
625
00:21:15,280 --> 00:21:18,400
different types of
626
00:21:16,320 --> 00:21:20,640
indicators first of all okay there's
627
00:21:18,400 --> 00:21:23,120
something called a lagging indicator
628
00:21:20,640 --> 00:21:24,000
and there's ones that are real time
629
00:21:23,120 --> 00:21:26,559
indicators
630
00:21:24,000 --> 00:21:27,919
right so when you think of something
631
00:21:26,559 --> 00:21:31,120
like the macd
632
00:21:27,919 --> 00:21:33,840
what it does is it takes the information
633
00:21:31,120 --> 00:21:34,480
from the past right and it takes an
634
00:21:33,840 --> 00:21:36,720
average
635
00:21:34,480 --> 00:21:38,880
of it that's why it's called the moving
636
00:21:36,720 --> 00:21:40,320
average convergence divergence
637
00:21:38,880 --> 00:21:42,720
that makes sense right that makes a lot
638
00:21:40,320 --> 00:21:45,760
of sense so one for example
639
00:21:42,720 --> 00:21:46,159
for this one here we'll take 12 of the
640
00:21:45,760 --> 00:21:49,039
past
641
00:21:46,159 --> 00:21:49,760
candles and give you an average and the
642
00:21:49,039 --> 00:21:52,880
other one
643
00:21:49,760 --> 00:21:53,919
will take 26 of the past candles and
644
00:21:52,880 --> 00:21:55,919
actually give you an
645
00:21:53,919 --> 00:21:57,760
average okay that's that i'm sure that
646
00:21:55,919 --> 00:22:00,320
makes uh very much so sense
647
00:21:57,760 --> 00:22:02,480
so one will take a smaller sample data
648
00:22:00,320 --> 00:22:04,480
one will take a bigger sample data
649
00:22:02,480 --> 00:22:06,400
so you can imagine the one that takes a
650
00:22:04,480 --> 00:22:07,760
bigger sample data it doesn't move
651
00:22:06,400 --> 00:22:10,880
around nearly as much
652
00:22:07,760 --> 00:22:12,720
right so why is this important it's
653
00:22:10,880 --> 00:22:15,840
important because it gives you an
654
00:22:12,720 --> 00:22:16,720
average sample of the price history so
655
00:22:15,840 --> 00:22:19,360
it gives you
656
00:22:16,720 --> 00:22:20,640
a sample of the price action and what is
657
00:22:19,360 --> 00:22:24,240
actually happening
658
00:22:20,640 --> 00:22:24,960
and also in the macd it gives you a very
659
00:22:24,240 --> 00:22:27,280
very nice
660
00:22:24,960 --> 00:22:28,159
histogram if you guys see this right
661
00:22:27,280 --> 00:22:30,240
here right
662
00:22:28,159 --> 00:22:32,000
so just imagine for a moment this
663
00:22:30,240 --> 00:22:35,200
histogram it dictates
664
00:22:32,000 --> 00:22:37,200
how much and where it's actually moving
665
00:22:35,200 --> 00:22:38,720
so if you see this right here on the
666
00:22:37,200 --> 00:22:41,039
negative side
667
00:22:38,720 --> 00:22:42,960
right this is on the negative side then
668
00:22:41,039 --> 00:22:45,520
then clearly what we're seeing
669
00:22:42,960 --> 00:22:46,480
is that it's going down right but if
670
00:22:45,520 --> 00:22:48,720
it's actually going
671
00:22:46,480 --> 00:22:50,080
upwards let's say let's say from here
672
00:22:48,720 --> 00:22:52,960
right
673
00:22:50,080 --> 00:22:53,440
from here from down it's going upwards
674
00:22:52,960 --> 00:22:55,120
right
675
00:22:53,440 --> 00:22:57,760
then this must mean that the price is
676
00:22:55,120 --> 00:22:59,440
also going up so they correlate with
677
00:22:57,760 --> 00:23:01,840
each other which we're going to go over
678
00:22:59,440 --> 00:23:03,760
in super high detail once again in those
679
00:23:01,840 --> 00:23:06,159
next lessons
680
00:23:03,760 --> 00:23:06,799
so another really important technical
681
00:23:06,159 --> 00:23:09,280
indicator
682
00:23:06,799 --> 00:23:10,000
that's talked about often is called the
683
00:23:09,280 --> 00:23:12,640
relative
684
00:23:10,000 --> 00:23:14,480
strength index right so when i first
685
00:23:12,640 --> 00:23:15,600
started out trading i would actually go
686
00:23:14,480 --> 00:23:17,200
to these sites
687
00:23:15,600 --> 00:23:18,640
and i would you know i wouldn't know
688
00:23:17,200 --> 00:23:20,400
what they were talking about and after
689
00:23:18,640 --> 00:23:22,559
getting frustrated i finally started to
690
00:23:20,400 --> 00:23:23,200
learn about what they were talking about
691
00:23:22,559 --> 00:23:25,520
okay
692
00:23:23,200 --> 00:23:26,320
so when they say something like the macd
693
00:23:25,520 --> 00:23:28,799
is placed
694
00:23:26,320 --> 00:23:29,840
nicely excuse me there nicely in the
695
00:23:28,799 --> 00:23:32,400
bullish zone
696
00:23:29,840 --> 00:23:32,960
they're basically referring to how this
697
00:23:32,400 --> 00:23:35,760
macd
698
00:23:32,960 --> 00:23:36,159
is on the positive side of this center
699
00:23:35,760 --> 00:23:38,799
line
700
00:23:36,159 --> 00:23:40,400
right there okay the center line is zero
701
00:23:38,799 --> 00:23:42,240
if it's on the higher side
702
00:23:40,400 --> 00:23:43,440
on the positive side that means that
703
00:23:42,240 --> 00:23:45,679
it's more bullish
704
00:23:43,440 --> 00:23:48,400
generally speaking and then they're also
705
00:23:45,679 --> 00:23:51,679
talking about the rsi right here right
706
00:23:48,400 --> 00:23:54,880
the rsi is currently correcting lower
707
00:23:51,679 --> 00:23:57,039
from the 70 level so rsi
708
00:23:54,880 --> 00:23:59,120
is called the relative strength index
709
00:23:57,039 --> 00:24:02,080
and that is actually a gauge
710
00:23:59,120 --> 00:24:02,480
of the momentum in the market and how
711
00:24:02,080 --> 00:24:05,039
much
712
00:24:02,480 --> 00:24:06,640
strength there is so there are two types
713
00:24:05,039 --> 00:24:08,799
of indicators like i mentioned
714
00:24:06,640 --> 00:24:10,400
one is called a lagging indicator and
715
00:24:08,799 --> 00:24:13,520
the other one is a real time
716
00:24:10,400 --> 00:24:15,200
indicator okay the lagging indicator is
717
00:24:13,520 --> 00:24:17,919
not as reliable
718
00:24:15,200 --> 00:24:18,480
because it's taking the previous sample
719
00:24:17,919 --> 00:24:21,039
as an
720
00:24:18,480 --> 00:24:22,000
average right and because it's taking it
721
00:24:21,039 --> 00:24:24,480
as an average
722
00:24:22,000 --> 00:24:25,039
a lot of the times when it actually
723
00:24:24,480 --> 00:24:27,200
happened
724
00:24:25,039 --> 00:24:29,039
already it's a little bit too late
725
00:24:27,200 --> 00:24:31,360
because it's a lagging indicator
726
00:24:29,039 --> 00:24:33,200
whereas some other ones like the
727
00:24:31,360 --> 00:24:35,279
relative strength index
728
00:24:33,200 --> 00:24:37,039
and the histogram which is one of my
729
00:24:35,279 --> 00:24:39,279
favorites of all time
730
00:24:37,039 --> 00:24:40,960
right it tells us really well when it's
731
00:24:39,279 --> 00:24:42,720
starting to level off
732
00:24:40,960 --> 00:24:44,960
the histogram is a really good
733
00:24:42,720 --> 00:24:48,240
representation with the rsi
734
00:24:44,960 --> 00:24:49,279
of real-time indicators that gives us a
735
00:24:48,240 --> 00:24:52,159
real-time
736
00:24:49,279 --> 00:24:54,159
gauge of what is happening in the market
737
00:24:52,159 --> 00:24:54,720
in real time there's it's not lagging
738
00:24:54,159 --> 00:24:58,799
right
739
00:24:54,720 --> 00:25:01,840
so the rsi it's gonna flow up and down
740
00:24:58,799 --> 00:25:05,279
from a number between 0 and
741
00:25:01,840 --> 00:25:08,320
100 okay 0 and 100
742
00:25:05,279 --> 00:25:11,039
and as it goes up and down up and down
743
00:25:08,320 --> 00:25:12,159
it'll give you a really good gauge of
744
00:25:11,039 --> 00:25:14,240
what is happening
745
00:25:12,159 --> 00:25:15,279
in the market and how much strength
746
00:25:14,240 --> 00:25:18,640
there is
747
00:25:15,279 --> 00:25:20,720
so if it goes well below 30 for example
748
00:25:18,640 --> 00:25:23,760
or generally regarding
749
00:25:20,720 --> 00:25:26,799
under 30 that would be considered as
750
00:25:23,760 --> 00:25:30,159
over sold okay oversold
751
00:25:26,799 --> 00:25:32,080
remember that under 30 is oversold
752
00:25:30,159 --> 00:25:34,720
and there are these lines right here
753
00:25:32,080 --> 00:25:38,080
that will give you a really good idea
754
00:25:34,720 --> 00:25:39,679
of where they are and over 70 usually
755
00:25:38,080 --> 00:25:42,000
means that it's over
756
00:25:39,679 --> 00:25:43,520
bought and because it's doing a lot of
757
00:25:42,000 --> 00:25:46,080
these calculations
758
00:25:43,520 --> 00:25:46,559
right these mathematical calculations it
759
00:25:46,080 --> 00:25:49,919
doesn't
760
00:25:46,559 --> 00:25:52,720
always mean that when it is over bought
761
00:25:49,919 --> 00:25:53,520
over 70 it will reverse and it doesn't
762
00:25:52,720 --> 00:25:56,400
always mean
763
00:25:53,520 --> 00:25:57,840
that when it's under 70 which means that
764
00:25:56,400 --> 00:25:59,279
it's oversold
765
00:25:57,840 --> 00:26:01,520
that it's actually going to bounce
766
00:25:59,279 --> 00:26:04,880
upwards so once again
767
00:26:01,520 --> 00:26:06,400
just because it's over sold under 30
768
00:26:04,880 --> 00:26:08,960
it doesn't mean that it's going to
769
00:26:06,400 --> 00:26:12,320
bounce up and just because it's over
770
00:26:08,960 --> 00:26:13,919
bought above 70 it does not mean that
771
00:26:12,320 --> 00:26:16,240
it's going to come down
772
00:26:13,919 --> 00:26:17,039
it just means that it's reaching to some
773
00:26:16,240 --> 00:26:20,000
levels
774
00:26:17,039 --> 00:26:21,039
where there's a higher probability of of
775
00:26:20,000 --> 00:26:24,640
it reversing
776
00:26:21,039 --> 00:26:26,320
very soon or or um yeah and
777
00:26:24,640 --> 00:26:27,679
basically that's what it means right
778
00:26:26,320 --> 00:26:29,600
it's there's a good chance
779
00:26:27,679 --> 00:26:31,679
that it's going to reverse the other way
780
00:26:29,600 --> 00:26:34,720
soon because nothing will stay
781
00:26:31,679 --> 00:26:36,240
overbought for too long and over sold
782
00:26:34,720 --> 00:26:38,799
for too long as well
783
00:26:36,240 --> 00:26:40,640
so what are some other indicators that
784
00:26:38,799 --> 00:26:42,960
people use right
785
00:26:40,640 --> 00:26:43,760
they'll use things such as moving
786
00:26:42,960 --> 00:26:46,000
averages
787
00:26:43,760 --> 00:26:48,240
as well right here so there's the moving
788
00:26:46,000 --> 00:26:49,200
average convergence divergence right
789
00:26:48,240 --> 00:26:51,360
over here
790
00:26:49,200 --> 00:26:52,559
and then there's also the moving average
791
00:26:51,360 --> 00:26:56,000
on these lines
792
00:26:52,559 --> 00:26:59,360
now personally myself i use 8
793
00:26:56,000 --> 00:27:02,640
i use 13 i use 21
794
00:26:59,360 --> 00:27:03,360
and i use 55 and i use the 100 moving
795
00:27:02,640 --> 00:27:05,360
average
796
00:27:03,360 --> 00:27:06,400
those are the five indicators that i
797
00:27:05,360 --> 00:27:09,279
actually use
798
00:27:06,400 --> 00:27:10,159
and and just so you guys know right you
799
00:27:09,279 --> 00:27:12,480
actually can't
800
00:27:10,159 --> 00:27:13,520
have all of these indicators that i have
801
00:27:12,480 --> 00:27:16,400
on my screen
802
00:27:13,520 --> 00:27:17,279
on in the basic version of uh trading
803
00:27:16,400 --> 00:27:19,360
view okay
804
00:27:17,279 --> 00:27:20,880
you need to have the pro version but the
805
00:27:19,360 --> 00:27:23,120
only reason i have it
806
00:27:20,880 --> 00:27:24,000
is because i bought the pro version for
807
00:27:23,120 --> 00:27:25,919
a few months
808
00:27:24,000 --> 00:27:27,200
right and it actually just left my
809
00:27:25,919 --> 00:27:29,600
indicators on there
810
00:27:27,200 --> 00:27:31,840
if you have a basic trading view you can
811
00:27:29,600 --> 00:27:34,080
actually only have um
812
00:27:31,840 --> 00:27:34,960
you can actually only have i think four
813
00:27:34,080 --> 00:27:37,600
indicators
814
00:27:34,960 --> 00:27:38,320
well i have one two and then i've got my
815
00:27:37,600 --> 00:27:40,399
five here
816
00:27:38,320 --> 00:27:41,840
so that's seven and i've got my volume
817
00:27:40,399 --> 00:27:43,679
so that's eight right
818
00:27:41,840 --> 00:27:45,120
but i actually think you can only have
819
00:27:43,679 --> 00:27:46,960
about four so
820
00:27:45,120 --> 00:27:48,880
if you guys are interested in these
821
00:27:46,960 --> 00:27:51,520
strategies you know i might recommend
822
00:27:48,880 --> 00:27:53,360
just paying for it for one month right
823
00:27:51,520 --> 00:27:55,039
just pay for it for one month
824
00:27:53,360 --> 00:27:56,799
and then after you pay for it for one
825
00:27:55,039 --> 00:27:59,200
month um
826
00:27:56,799 --> 00:28:01,120
yeah you'll have it right like i
827
00:27:59,200 --> 00:28:02,559
honestly i think i got it for a few
828
00:28:01,120 --> 00:28:04,640
months i don't even remember
829
00:28:02,559 --> 00:28:06,399
but it's i had it like one time i bought
830
00:28:04,640 --> 00:28:08,080
like a prepaid credit card right
831
00:28:06,399 --> 00:28:10,159
this was like a year ago or something
832
00:28:08,080 --> 00:28:12,240
and i bought a prepaid credit card
833
00:28:10,159 --> 00:28:14,240
and then um just just to get the trial
834
00:28:12,240 --> 00:28:16,559
honestly just to get the trial
835
00:28:14,240 --> 00:28:18,159
and then um and then um i never paid for
836
00:28:16,559 --> 00:28:19,600
it for like a year but it kept all my
837
00:28:18,159 --> 00:28:21,039
indicators on there so
838
00:28:19,600 --> 00:28:22,799
just to kind of give you guys i don't
839
00:28:21,039 --> 00:28:24,799
know a little shortcut or something if
840
00:28:22,799 --> 00:28:26,640
that would help you guys out there
841
00:28:24,799 --> 00:28:28,320
um you don't have to keep it it's not
842
00:28:26,640 --> 00:28:30,320
really necessary until
843
00:28:28,320 --> 00:28:32,080
you get the indicators and hey it's good
844
00:28:30,320 --> 00:28:33,520
enough right i think that's just kind of
845
00:28:32,080 --> 00:28:36,720
like a bug with trading view
846
00:28:33,520 --> 00:28:38,399
where if you get um the indicators on
847
00:28:36,720 --> 00:28:40,960
even a trial account like you put in
848
00:28:38,399 --> 00:28:43,279
your credit card you get a trial account
849
00:28:40,960 --> 00:28:45,039
get all the indicators on there and then
850
00:28:43,279 --> 00:28:46,559
you just never renew it and you actually
851
00:28:45,039 --> 00:28:49,360
get the indicators for life
852
00:28:46,559 --> 00:28:51,760
so it's kind of a cool thing right so um
853
00:28:49,360 --> 00:28:52,159
yeah the moving averages i keep them on
854
00:28:51,760 --> 00:28:54,720
here
855
00:28:52,159 --> 00:28:55,679
and these are actually all fibonacci
856
00:28:54,720 --> 00:28:58,000
numbers okay
857
00:28:55,679 --> 00:29:00,000
they're all fibonacci numbers and it's
858
00:28:58,000 --> 00:29:01,840
part of the fibonacci numbers
859
00:29:00,000 --> 00:29:03,760
ratios that will actually form you know
860
00:29:01,840 --> 00:29:04,880
things like the golden ratio for example
861
00:29:03,760 --> 00:29:07,360
okay
862
00:29:04,880 --> 00:29:09,520
and then these moving averages but for
863
00:29:07,360 --> 00:29:10,240
example the 200 moving average okay
864
00:29:09,520 --> 00:29:12,880
right here
865
00:29:10,240 --> 00:29:13,600
what that'll do on whatever time frame
866
00:29:12,880 --> 00:29:16,720
i'm on
867
00:29:13,600 --> 00:29:17,520
is it'll actually take the past 200
868
00:29:16,720 --> 00:29:20,000
candles
869
00:29:17,520 --> 00:29:20,880
and form an average line of the price
870
00:29:20,000 --> 00:29:24,559
action
871
00:29:20,880 --> 00:29:27,600
whereas the 55 moving average will take
872
00:29:24,559 --> 00:29:29,919
a sample of just the 55
873
00:29:27,600 --> 00:29:31,039
candles prior to that and then they will
874
00:29:29,919 --> 00:29:32,640
form a line
875
00:29:31,039 --> 00:29:34,960
that's why you'll see things like the
876
00:29:32,640 --> 00:29:35,600
100 moving average not moving nearly as
877
00:29:34,960 --> 00:29:37,600
much
878
00:29:35,600 --> 00:29:38,799
but you see things like the 8 moving
879
00:29:37,600 --> 00:29:42,320
average moving
880
00:29:38,799 --> 00:29:44,000
a lot more right so these are kind of
881
00:29:42,320 --> 00:29:47,200
the the indicators that i
882
00:29:44,000 --> 00:29:49,520
use so we've covered basically the macd
883
00:29:47,200 --> 00:29:50,640
we've covered right the rsi as well
884
00:29:49,520 --> 00:29:52,960
which are very
885
00:29:50,640 --> 00:29:54,320
common indicators we've covered moving
886
00:29:52,960 --> 00:29:56,960
averages as well
887
00:29:54,320 --> 00:29:57,679
now i personally don't use ichimoku
888
00:29:56,960 --> 00:29:59,360
clouds
889
00:29:57,679 --> 00:30:02,399
i personally don't use boiling your
890
00:29:59,360 --> 00:30:04,240
bands i don't use sarcastic rsi
891
00:30:02,399 --> 00:30:06,480
there's a lot of indicators out there
892
00:30:04,240 --> 00:30:07,279
guys what i would recommend for you guys
893
00:30:06,480 --> 00:30:09,840
to do
894
00:30:07,279 --> 00:30:10,640
is to maybe even read up more on some
895
00:30:09,840 --> 00:30:12,720
indicators that
896
00:30:10,640 --> 00:30:14,240
you might like right and then you kind
897
00:30:12,720 --> 00:30:17,120
of just specialize
898
00:30:14,240 --> 00:30:18,880
in a very set amount of indicators and
899
00:30:17,120 --> 00:30:21,200
guys this is what i use
900
00:30:18,880 --> 00:30:22,320
this is what make generates me a very
901
00:30:21,200 --> 00:30:24,640
good fortune
902
00:30:22,320 --> 00:30:25,600
i'm very happy with the profits that i
903
00:30:24,640 --> 00:30:28,159
have made
904
00:30:25,600 --> 00:30:29,760
using these specific indicators right
905
00:30:28,159 --> 00:30:31,520
you kind of you don't have to use every
906
00:30:29,760 --> 00:30:33,200
guys you really don't right there's
907
00:30:31,520 --> 00:30:35,520
so many out there like look at the
908
00:30:33,200 --> 00:30:37,840
indicators over here
909
00:30:35,520 --> 00:30:38,640
look at all these indicators that there
910
00:30:37,840 --> 00:30:41,120
are okay
911
00:30:38,640 --> 00:30:43,919
there's so many like we're talking about
912
00:30:41,120 --> 00:30:45,919
like a ridiculous amount of indicators
913
00:30:43,919 --> 00:30:47,120
and i personally don't care for a lot of
914
00:30:45,919 --> 00:30:49,200
them at all like
915
00:30:47,120 --> 00:30:50,240
this is ridiculous how many indicators
916
00:30:49,200 --> 00:30:53,440
there are
917
00:30:50,240 --> 00:30:56,880
right so yeah
918
00:30:53,440 --> 00:30:59,519
i mean there's some really good ones
919
00:30:56,880 --> 00:31:01,760
on here but you know what i personally
920
00:30:59,519 --> 00:31:03,440
don't need them whatsoever like i'm
921
00:31:01,760 --> 00:31:05,679
really happy with just the indicators
922
00:31:03,440 --> 00:31:07,279
that i use and i would recommend that
923
00:31:05,679 --> 00:31:08,399
you guys honestly just stick to these
924
00:31:07,279 --> 00:31:10,640
indicators
925
00:31:08,399 --> 00:31:11,679
it's what's used in every single day
926
00:31:10,640 --> 00:31:13,760
language that you
927
00:31:11,679 --> 00:31:15,600
want when you watch technical analysis
928
00:31:13,760 --> 00:31:18,080
and it's going to give you a really good
929
00:31:15,600 --> 00:31:19,679
way to master specific indicators
930
00:31:18,080 --> 00:31:22,000
if there's some other that you might
931
00:31:19,679 --> 00:31:23,279
like to use i might recommend bollinger
932
00:31:22,000 --> 00:31:26,640
bands
933
00:31:23,279 --> 00:31:29,600
that's spelled b-o-l-l i-n-g-e-r
934
00:31:26,640 --> 00:31:30,080
and then there's also ichi moku clouds
935
00:31:29,600 --> 00:31:31,840
right
936
00:31:30,080 --> 00:31:33,600
so these are some other ones here
937
00:31:31,840 --> 00:31:35,760
boiling your bands
938
00:31:33,600 --> 00:31:36,799
right and then there's also ichimoku
939
00:31:35,760 --> 00:31:39,919
clouds ichi
940
00:31:36,799 --> 00:31:41,360
moku clouds that some people use as well
941
00:31:39,919 --> 00:31:43,279
right
942
00:31:41,360 --> 00:31:44,960
so those are some of the other common
943
00:31:43,279 --> 00:31:47,200
ones so once again
944
00:31:44,960 --> 00:31:48,080
just to summarize quickly technical
945
00:31:47,200 --> 00:31:51,679
indicators
946
00:31:48,080 --> 00:31:55,120
are used because they tend to evaluate
947
00:31:51,679 --> 00:31:56,799
the the the past right it gives you data
948
00:31:55,120 --> 00:31:59,760
from the past so you can
949
00:31:56,799 --> 00:32:01,360
anticipate what the future can do and
950
00:31:59,760 --> 00:32:02,240
that's the importance of technical
951
00:32:01,360 --> 00:32:04,559
indicators
952
00:32:02,240 --> 00:32:06,480
it's kind of a tool that will that we
953
00:32:04,559 --> 00:32:09,200
use that can assist
954
00:32:06,480 --> 00:32:11,120
us in evaluating the price action and
955
00:32:09,200 --> 00:32:13,279
predicting it in the future
956
00:32:11,120 --> 00:32:14,240
and also remember that as a technical
957
00:32:13,279 --> 00:32:17,360
analyst
958
00:32:14,240 --> 00:32:18,080
we firmly believe that all history of
959
00:32:17,360 --> 00:32:20,320
the past
960
00:32:18,080 --> 00:32:21,760
the present and possibly the future
961
00:32:20,320 --> 00:32:24,640
they're all reflected
962
00:32:21,760 --> 00:32:25,840
in the charts and we use the past data
963
00:32:24,640 --> 00:32:27,919
to anticipate
964
00:32:25,840 --> 00:32:29,760
and guess and predict based on
965
00:32:27,919 --> 00:32:30,480
probabilities hopefully our probability
966
00:32:29,760 --> 00:32:32,960
is higher
967
00:32:30,480 --> 00:32:34,720
of what the future can actually do so
968
00:32:32,960 --> 00:32:35,760
make sure you guys understand that some
969
00:32:34,720 --> 00:32:37,919
people will say
970
00:32:35,760 --> 00:32:39,600
that technical analysis is just the
971
00:32:37,919 --> 00:32:42,080
devil like it's it's horrible
972
00:32:39,600 --> 00:32:43,919
never ever use it never trust it right
973
00:32:42,080 --> 00:32:46,880
and only trust by
974
00:32:43,919 --> 00:32:48,399
fundamental analysis right for example
975
00:32:46,880 --> 00:32:51,279
warren buffett okay
976
00:32:48,399 --> 00:32:53,039
warren buffett what he said was that he
977
00:32:51,279 --> 00:32:55,039
never really used um
978
00:32:53,039 --> 00:32:56,559
you know technical analysis and he's
979
00:32:55,039 --> 00:32:59,519
always been the greatest
980
00:32:56,559 --> 00:33:01,440
fundamental investor of all time and
981
00:32:59,519 --> 00:33:03,840
that's all that he's ever based in
982
00:33:01,440 --> 00:33:04,799
off of right and always remember as well
983
00:33:03,840 --> 00:33:08,080
that we're not going to
984
00:33:04,799 --> 00:33:10,480
catch every single trade okay guys
985
00:33:08,080 --> 00:33:12,640
we're only going to catch some of them
986
00:33:10,480 --> 00:33:13,120
and what technical analysis allows us to
987
00:33:12,640 --> 00:33:15,679
do
988
00:33:13,120 --> 00:33:16,720
is try to spot much more than we've
989
00:33:15,679 --> 00:33:19,440
actually missed
990
00:33:16,720 --> 00:33:19,919
and warren buffett has also said that
991
00:33:19,440 --> 00:33:22,159
you know
992
00:33:19,919 --> 00:33:23,200
they asked him how did you miss google
993
00:33:22,159 --> 00:33:26,720
and amazon
994
00:33:23,200 --> 00:33:28,880
right actually he missed google amazon
995
00:33:26,720 --> 00:33:30,240
and facebook the big three there google
996
00:33:28,880 --> 00:33:33,279
amazon and facebook
997
00:33:30,240 --> 00:33:36,000
they asked him how did you actually miss
998
00:33:33,279 --> 00:33:36,480
all of these three and you know what he
999
00:33:36,000 --> 00:33:40,159
said
1000
00:33:36,480 --> 00:33:42,880
he said it's not about catching them all
1001
00:33:40,159 --> 00:33:43,519
it's about making sure that we spot and
1002
00:33:42,880 --> 00:33:46,159
catch
1003
00:33:43,519 --> 00:33:46,799
only some of them because we can never
1004
00:33:46,159 --> 00:33:49,279
catch them
1005
00:33:46,799 --> 00:33:51,120
all so make sure you guys understand
1006
00:33:49,279 --> 00:33:54,240
that these tactical indicators
1007
00:33:51,120 --> 00:33:55,919
they're here to assist us and give us a
1008
00:33:54,240 --> 00:33:58,559
general guideline
1009
00:33:55,919 --> 00:33:59,120
of where this price action can actually
1010
00:33:58,559 --> 00:34:00,640
go
1011
00:33:59,120 --> 00:34:03,120
but they're not going to actually you
1012
00:34:00,640 --> 00:34:05,120
know be be our bread and butter
1013
00:34:03,120 --> 00:34:06,320
in terms of you know we rely on them a
1014
00:34:05,120 --> 00:34:09,040
thousand percent
1015
00:34:06,320 --> 00:34:11,200
what we try to look for guys is we try
1016
00:34:09,040 --> 00:34:11,839
to look for something called confluence
1017
00:34:11,200 --> 00:34:14,639
okay
1018
00:34:11,839 --> 00:34:15,520
confluence will actually give us a way
1019
00:34:14,639 --> 00:34:18,000
to find
1020
00:34:15,520 --> 00:34:18,800
a higher probability of something
1021
00:34:18,000 --> 00:34:21,440
actually
1022
00:34:18,800 --> 00:34:23,599
happening if something if we find a
1023
00:34:21,440 --> 00:34:24,320
higher probability of something actually
1024
00:34:23,599 --> 00:34:27,040
happening
1025
00:34:24,320 --> 00:34:28,240
that that's basically by taking a lot of
1026
00:34:27,040 --> 00:34:30,560
different factors
1027
00:34:28,240 --> 00:34:31,839
and combining them for example we might
1028
00:34:30,560 --> 00:34:35,040
say oh wow
1029
00:34:31,839 --> 00:34:37,599
there's a lot of volume here oh wow
1030
00:34:35,040 --> 00:34:38,079
the rsi looks like it's bouncing up oh
1031
00:34:37,599 --> 00:34:40,960
wow
1032
00:34:38,079 --> 00:34:43,440
the macd is actually crossing over wow
1033
00:34:40,960 --> 00:34:45,760
this is also a really good candle
1034
00:34:43,440 --> 00:34:47,119
right so we say oh wow okay you know
1035
00:34:45,760 --> 00:34:50,079
macd is crossing over
1036
00:34:47,119 --> 00:34:52,159
rsi there's volume it's a good candle
1037
00:34:50,079 --> 00:34:54,399
that's what we call confluence
1038
00:34:52,159 --> 00:34:55,359
where we're finding a lot of different
1039
00:34:54,399 --> 00:34:58,480
reasons
1040
00:34:55,359 --> 00:35:00,400
for leaning towards one specific way
1041
00:34:58,480 --> 00:35:02,320
where it gives us a higher probability
1042
00:35:00,400 --> 00:35:04,160
to make this trade right
1043
00:35:02,320 --> 00:35:06,560
so that's why we use technical
1044
00:35:04,160 --> 00:35:09,920
indicators we use it to find
1045
00:35:06,560 --> 00:35:11,920
confluence to find and give us a reason
1046
00:35:09,920 --> 00:35:14,560
to have a higher probability
1047
00:35:11,920 --> 00:35:16,400
and a reason for entering this trade so
1048
00:35:14,560 --> 00:35:17,680
i hope that you guys have enjoyed this
1049
00:35:16,400 --> 00:35:20,000
lesson so far
1050
00:35:17,680 --> 00:35:21,359
it's to give you just a basic and
1051
00:35:20,000 --> 00:35:24,480
general idea
1052
00:35:21,359 --> 00:35:26,640
of what technical indicators are and why
1053
00:35:24,480 --> 00:35:28,880
they're important but you know i think
1054
00:35:26,640 --> 00:35:31,119
that even if you guys are beginners
1055
00:35:28,880 --> 00:35:32,079
or not even beginners and you're even in
1056
00:35:31,119 --> 00:35:34,240
the intermediate
1057
00:35:32,079 --> 00:35:36,240
i know for a fact that if you guys have
1058
00:35:34,240 --> 00:35:38,079
invested in my particular class
1059
00:35:36,240 --> 00:35:39,599
that you're still going to take a lot
1060
00:35:38,079 --> 00:35:41,760
away from these videos
1061
00:35:39,599 --> 00:35:42,960
because it's the philosophy and the
1062
00:35:41,760 --> 00:35:44,880
psychology
1063
00:35:42,960 --> 00:35:47,520
behind everything that i'm saying that
1064
00:35:44,880 --> 00:35:50,560
will make you become a successful trader
1065
00:35:47,520 --> 00:35:53,040
i don't just focus guys on charts
1066
00:35:50,560 --> 00:35:54,800
i don't just focus on indicators i focus
1067
00:35:53,040 --> 00:35:56,640
on the whole nine yards right
1068
00:35:54,800 --> 00:35:58,240
i make sure that you guys understand
1069
00:35:56,640 --> 00:36:00,560
this human psychology
1070
00:35:58,240 --> 00:36:02,560
and the philosophy behind trading and
1071
00:36:00,560 --> 00:36:04,240
how everything comes together
1072
00:36:02,560 --> 00:36:06,160
because when you actually get the whole
1073
00:36:04,240 --> 00:36:08,480
big picture of everything right
1074
00:36:06,160 --> 00:36:09,920
it can be compressed down so you can put
1075
00:36:08,480 --> 00:36:12,480
a magnifying glass
1076
00:36:09,920 --> 00:36:13,599
over it as well and analyze it in very
1077
00:36:12,480 --> 00:36:15,359
high detail
1078
00:36:13,599 --> 00:36:17,200
so i hope you guys have actually
1079
00:36:15,359 --> 00:36:19,440
thoroughly enjoyed this class
1080
00:36:17,200 --> 00:36:22,000
this will conclude our lesson number
1081
00:36:19,440 --> 00:36:23,520
seven of going over the importance of
1082
00:36:22,000 --> 00:36:25,280
tactical indicators
1083
00:36:23,520 --> 00:36:26,960
the difference between fundamental
1084
00:36:25,280 --> 00:36:29,920
analysis and also
1085
00:36:26,960 --> 00:36:31,280
technical analysis and how we use
1086
00:36:29,920 --> 00:36:33,839
technical indicators
1087
00:36:31,280 --> 00:36:34,960
combined with other factors to find
1088
00:36:33,839 --> 00:36:37,680
confluence
1089
00:36:34,960 --> 00:36:39,920
which is basically more reasons to enter
1090
00:36:37,680 --> 00:36:41,119
a trade to have a higher probability of
1091
00:36:39,920 --> 00:36:43,520
being successful
1092
00:36:41,119 --> 00:36:44,720
so thank you very much guys for joining
1093
00:36:43,520 --> 00:36:46,800
me for lesson seven
1094
00:36:44,720 --> 00:36:48,720
it's been a pleasure being your your
1095
00:36:46,800 --> 00:36:50,800
instructor for this particular lesson
1096
00:36:48,720 --> 00:36:52,800
and i really hope to look forward to
1097
00:36:50,800 --> 00:36:55,119
seeing you guys for lesson number eight
1098
00:36:52,800 --> 00:36:56,400
and for lesson number eight guys we're
1099
00:36:55,119 --> 00:36:59,200
going to be covering
1100
00:36:56,400 --> 00:37:00,000
finally how to read charts how to
1101
00:36:59,200 --> 00:37:03,280
analyze
1102
00:37:00,000 --> 00:37:05,520
candlesticks how to read price action
1103
00:37:03,280 --> 00:37:07,359
and this is going to be a very fun class
1104
00:37:05,520 --> 00:37:08,720
so i look forward to seeing you guys all
1105
00:37:07,359 --> 00:37:10,640
there and thank you
1106
00:37:08,720 --> 00:37:12,079
once again for being a part of my class
1107
00:37:10,640 --> 00:37:13,359
and thank you for all the love and the
1108
00:37:12,079 --> 00:37:14,960
support you've given me
1109
00:37:13,359 --> 00:37:16,480
i look forward to seeing you guys for
1110
00:37:14,960 --> 00:37:20,240
lesson number eight
1111
00:37:16,480 --> 00:37:20,240
have yourselves a great day bye now
76237
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