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These are the user uploaded subtitles that are being translated: 1 00:00:00,799 --> 00:00:05,839 hello everybody how is it going today 2 00:00:03,520 --> 00:00:07,200 so today we're going to be talking about 3 00:00:05,839 --> 00:00:10,480 how to read charts 4 00:00:07,200 --> 00:00:11,759 and welcome to lesson number eight 5 00:00:10,480 --> 00:00:14,080 we're going to be talking about how to 6 00:00:11,759 --> 00:00:16,480 read charts analyze candlesticks 7 00:00:14,080 --> 00:00:17,840 and reading price action so by the time 8 00:00:16,480 --> 00:00:20,720 you're done this class 9 00:00:17,840 --> 00:00:22,720 you should have a very firm grasp on 10 00:00:20,720 --> 00:00:24,880 what are all these charts what are 11 00:00:22,720 --> 00:00:26,400 what's all this information going on 12 00:00:24,880 --> 00:00:29,199 with all these charts 13 00:00:26,400 --> 00:00:31,039 what do these candles actually mean what 14 00:00:29,199 --> 00:00:32,800 is actually price action 15 00:00:31,039 --> 00:00:34,079 i'm sure that you guys have been very 16 00:00:32,800 --> 00:00:36,880 overwhelmed before 17 00:00:34,079 --> 00:00:38,399 if you have not been exposed to learning 18 00:00:36,880 --> 00:00:40,399 how to read charts before 19 00:00:38,399 --> 00:00:41,840 and these candlesticks guys they really 20 00:00:40,399 --> 00:00:43,840 do tell a story 21 00:00:41,840 --> 00:00:45,920 so let's recap everything that we've 22 00:00:43,840 --> 00:00:47,280 learned thus far from lessons one to 23 00:00:45,920 --> 00:00:49,039 seven very briefly 24 00:00:47,280 --> 00:00:50,320 so i hope you guys have had a fantastic 25 00:00:49,039 --> 00:00:52,719 day trading so far 26 00:00:50,320 --> 00:00:54,559 and i am so excited to be doing this new 27 00:00:52,719 --> 00:00:56,800 lesson number eight with you guys and 28 00:00:54,559 --> 00:00:58,559 thank you very much for tuning in 29 00:00:56,800 --> 00:01:00,160 so in the very first class you guys 30 00:00:58,559 --> 00:01:01,120 should be able to speak the lingo with 31 00:01:00,160 --> 00:01:02,320 me now right 32 00:01:01,120 --> 00:01:04,720 we've talked about the common 33 00:01:02,320 --> 00:01:06,799 terminologies in lesson number two 34 00:01:04,720 --> 00:01:07,840 we talked about how to deal with your 35 00:01:06,799 --> 00:01:10,320 emotions 36 00:01:07,840 --> 00:01:11,680 how to naturally progress by losing 37 00:01:10,320 --> 00:01:14,159 quite often 38 00:01:11,680 --> 00:01:15,680 what is risk management as well and how 39 00:01:14,159 --> 00:01:18,560 we try to make sure that we 40 00:01:15,680 --> 00:01:20,400 increase our probability so we can trade 41 00:01:18,560 --> 00:01:22,880 like a casino and we focus 42 00:01:20,400 --> 00:01:23,520 on taking high probability setups that 43 00:01:22,880 --> 00:01:26,560 yield 44 00:01:23,520 --> 00:01:27,680 high rewards with very little risk in 45 00:01:26,560 --> 00:01:29,920 lesson number three 46 00:01:27,680 --> 00:01:31,759 we talked about dollar cost averaging 47 00:01:29,920 --> 00:01:33,200 what is dollar cost averaging and what 48 00:01:31,759 --> 00:01:35,119 is laddering your buys 49 00:01:33,200 --> 00:01:37,600 laddering your buys is the process of 50 00:01:35,119 --> 00:01:38,799 slowly buying on the dips as it gets 51 00:01:37,600 --> 00:01:41,439 lower and lower 52 00:01:38,799 --> 00:01:42,479 this way you can average out the cost of 53 00:01:41,439 --> 00:01:44,159 your position 54 00:01:42,479 --> 00:01:45,680 this way you're not actually trapped in 55 00:01:44,159 --> 00:01:48,000 one particular situation 56 00:01:45,680 --> 00:01:49,200 only what is the level two that was 57 00:01:48,000 --> 00:01:51,600 lesson number four 58 00:01:49,200 --> 00:01:52,640 reading the level two is a crucial part 59 00:01:51,600 --> 00:01:55,280 of understanding 60 00:01:52,640 --> 00:01:56,960 quick and real-time momentum changes we 61 00:01:55,280 --> 00:01:59,040 have to understand what the bids are we 62 00:01:56,960 --> 00:01:59,600 have to understand what the asks are as 63 00:01:59,040 --> 00:02:01,759 well 64 00:01:59,600 --> 00:02:03,119 it's only until we know how to read the 65 00:02:01,759 --> 00:02:05,840 level 2 order book 66 00:02:03,119 --> 00:02:06,399 that's when we'll have a very firm grasp 67 00:02:05,840 --> 00:02:09,440 on what 68 00:02:06,399 --> 00:02:11,039 exactly is going on in the order book we 69 00:02:09,440 --> 00:02:13,840 also get a chance to spot 70 00:02:11,039 --> 00:02:15,440 walls whenever we see these walls some 71 00:02:13,840 --> 00:02:17,840 people call it manipulation 72 00:02:15,440 --> 00:02:19,840 a lot of people also call it strategy we 73 00:02:17,840 --> 00:02:22,160 have to keep in mind that trading is one 74 00:02:19,840 --> 00:02:23,680 big strategy game right and because it's 75 00:02:22,160 --> 00:02:25,360 a very big strategy game 76 00:02:23,680 --> 00:02:27,440 there's always people trying to block 77 00:02:25,360 --> 00:02:29,920 each other and then lesson number five 78 00:02:27,440 --> 00:02:30,959 we covered what is going long what is 79 00:02:29,920 --> 00:02:32,720 going short 80 00:02:30,959 --> 00:02:35,120 what is margin trading what is 81 00:02:32,720 --> 00:02:38,239 leveraging what are the risks 82 00:02:35,120 --> 00:02:38,640 associated with it now in lesson number 83 00:02:38,239 --> 00:02:40,480 six 84 00:02:38,640 --> 00:02:42,800 we talked about what is why do we need 85 00:02:40,480 --> 00:02:43,440 charts right why do we need charts and 86 00:02:42,800 --> 00:02:45,440 why is it 87 00:02:43,440 --> 00:02:47,440 important we talked about how to 88 00:02:45,440 --> 00:02:49,120 customize trading view as well 89 00:02:47,440 --> 00:02:50,480 and in lesson number seven which was 90 00:02:49,120 --> 00:02:52,400 just the previous lesson 91 00:02:50,480 --> 00:02:55,280 we talked about what are technical 92 00:02:52,400 --> 00:02:57,519 indicators what is a technical analyst 93 00:02:55,280 --> 00:02:58,720 how are they actually used how are these 94 00:02:57,519 --> 00:03:00,800 indicators used 95 00:02:58,720 --> 00:03:02,800 how do we differ from a technical 96 00:03:00,800 --> 00:03:04,640 analyst and a fundamental analyst 97 00:03:02,800 --> 00:03:06,720 what are some of the philosophies 98 00:03:04,640 --> 00:03:07,599 associated with being a technical 99 00:03:06,720 --> 00:03:10,000 analyst 100 00:03:07,599 --> 00:03:10,640 rather than investing from a fundamental 101 00:03:10,000 --> 00:03:12,640 level 102 00:03:10,640 --> 00:03:14,239 so guys let's get right into this okay 103 00:03:12,640 --> 00:03:15,760 i'm very excited to be talking to you 104 00:03:14,239 --> 00:03:17,280 guys about how to read charts 105 00:03:15,760 --> 00:03:19,200 we're going to learn how to analyze 106 00:03:17,280 --> 00:03:21,280 candlesticks we're going to learn how to 107 00:03:19,200 --> 00:03:22,959 read price action so thank you very much 108 00:03:21,280 --> 00:03:23,519 once again for joining me for this 109 00:03:22,959 --> 00:03:26,480 lesson 110 00:03:23,519 --> 00:03:27,760 number eight okay let's jump right into 111 00:03:26,480 --> 00:03:29,519 this tutorial 112 00:03:27,760 --> 00:03:31,680 as you guys have probably customized 113 00:03:29,519 --> 00:03:34,080 already this is how my screen 114 00:03:31,680 --> 00:03:35,440 normally looks like i've got six charts 115 00:03:34,080 --> 00:03:38,319 here on my large 116 00:03:35,440 --> 00:03:39,760 32 inch monitor it's not a 4k monitor 117 00:03:38,319 --> 00:03:42,720 because i don't need a 4k 118 00:03:39,760 --> 00:03:44,159 monitor right a 1080p monitor does the 119 00:03:42,720 --> 00:03:46,239 job perfectly fine 120 00:03:44,159 --> 00:03:48,400 and it's actually all that i need some 121 00:03:46,239 --> 00:03:50,480 people prefer to have a 4k monitor 122 00:03:48,400 --> 00:03:51,640 you guys have seen my setup before right 123 00:03:50,480 --> 00:03:53,920 i have two 124 00:03:51,640 --> 00:03:55,439 32-inch monitors and let me just show 125 00:03:53,920 --> 00:03:56,640 you guys my setup if you've never seen 126 00:03:55,439 --> 00:03:58,879 it before 127 00:03:56,640 --> 00:04:00,720 so this right here is the setup that i 128 00:03:58,879 --> 00:04:03,840 use on a day-to-day basis 129 00:04:00,720 --> 00:04:06,000 i've got two 32-inch monitors there i've 130 00:04:03,840 --> 00:04:08,560 got a really cool corsair 131 00:04:06,000 --> 00:04:10,239 mouse and keyboard combo lots of messy 132 00:04:08,560 --> 00:04:10,879 cables but it's actually all cleaned up 133 00:04:10,239 --> 00:04:13,360 now 134 00:04:10,879 --> 00:04:14,799 i've got a really cool monster rig here 135 00:04:13,360 --> 00:04:17,280 i really enjoy my 136 00:04:14,799 --> 00:04:18,000 my led displays that you guys see here 137 00:04:17,280 --> 00:04:20,079 right 138 00:04:18,000 --> 00:04:23,040 beautiful displays here with rgb 139 00:04:20,079 --> 00:04:25,840 lighting i've got a nice 1060 video card 140 00:04:23,040 --> 00:04:27,440 all water cooled as well yeah it's it's 141 00:04:25,840 --> 00:04:29,280 a cool setup it really is a really 142 00:04:27,440 --> 00:04:31,280 definitely a really cool setup here 143 00:04:29,280 --> 00:04:33,199 so that but the main thing to notice is 144 00:04:31,280 --> 00:04:34,320 that this is this is my monitor setup 145 00:04:33,199 --> 00:04:36,160 right here okay guys 146 00:04:34,320 --> 00:04:37,919 this screen that you guys are looking at 147 00:04:36,160 --> 00:04:38,880 is right here and this is where my web 148 00:04:37,919 --> 00:04:41,520 camera is 149 00:04:38,880 --> 00:04:43,440 i've got a steel series headset rgb 150 00:04:41,520 --> 00:04:44,800 lighting keyboard and mouse as well 151 00:04:43,440 --> 00:04:46,720 and this is the monitor that you guys 152 00:04:44,800 --> 00:04:47,759 always see but normally i actually have 153 00:04:46,720 --> 00:04:50,000 six 154 00:04:47,759 --> 00:04:52,320 setups on here so make sure that you 155 00:04:50,000 --> 00:04:54,320 guys are customizing your view as well 156 00:04:52,320 --> 00:04:56,160 to however you prefer them 157 00:04:54,320 --> 00:04:57,360 and i also have a tablet that i'm always 158 00:04:56,160 --> 00:04:59,440 keeping on my keyboard 159 00:04:57,360 --> 00:05:01,280 or buy my keyboard i've got a cell phone 160 00:04:59,440 --> 00:05:03,120 as well actually two cell phones both of 161 00:05:01,280 --> 00:05:04,880 them have my 2fa on it that don't touch 162 00:05:03,120 --> 00:05:06,639 the internet at all 163 00:05:04,880 --> 00:05:08,240 so yeah i just want to show you guys my 164 00:05:06,639 --> 00:05:09,600 quick setup make sure you guys are 165 00:05:08,240 --> 00:05:11,840 customizing 166 00:05:09,600 --> 00:05:12,639 your setup as well make sure you're 167 00:05:11,840 --> 00:05:14,320 investing 168 00:05:12,639 --> 00:05:15,919 in a really good chair because you're 169 00:05:14,320 --> 00:05:16,479 going to be sitting down on it all day 170 00:05:15,919 --> 00:05:18,800 right 171 00:05:16,479 --> 00:05:20,639 so let's talk about candlesticks guys 172 00:05:18,800 --> 00:05:21,120 let's talk about candlesticks and what 173 00:05:20,639 --> 00:05:23,120 this 174 00:05:21,120 --> 00:05:24,639 means so we're going to go over it from 175 00:05:23,120 --> 00:05:26,639 the very very 176 00:05:24,639 --> 00:05:28,720 very beginning i'm just going to assume 177 00:05:26,639 --> 00:05:31,680 that you guys don't know nothing at all 178 00:05:28,720 --> 00:05:32,080 okay so we have a candle that's like 179 00:05:31,680 --> 00:05:34,240 this 180 00:05:32,080 --> 00:05:36,080 right as you guys all know that is 181 00:05:34,240 --> 00:05:39,039 basically a candle okay 182 00:05:36,080 --> 00:05:40,240 this is what we call the body now you 183 00:05:39,039 --> 00:05:43,440 guys will always see 184 00:05:40,240 --> 00:05:45,919 stuff like this right the o the h 185 00:05:43,440 --> 00:05:47,680 the l and the c okay i'm just going to 186 00:05:45,919 --> 00:05:51,600 write it down this is the o 187 00:05:47,680 --> 00:05:54,639 which stands for open okay the h 188 00:05:51,600 --> 00:05:58,080 refers to the high the l 189 00:05:54,639 --> 00:05:59,600 refers to the low and the c refers to 190 00:05:58,080 --> 00:06:02,639 the close okay 191 00:05:59,600 --> 00:06:04,800 so what is the open so let's say 192 00:06:02,639 --> 00:06:06,560 that this is a green candle there are 193 00:06:04,800 --> 00:06:08,160 two different types of candles okay 194 00:06:06,560 --> 00:06:10,240 there's a green candle 195 00:06:08,160 --> 00:06:11,759 and there's basically a red candle right 196 00:06:10,240 --> 00:06:13,360 just like this over here 197 00:06:11,759 --> 00:06:16,000 and i'm going to draw this red so it 198 00:06:13,360 --> 00:06:18,639 makes it very familiar the reason why 199 00:06:16,000 --> 00:06:19,840 we need to make sure that we understand 200 00:06:18,639 --> 00:06:22,240 how to read 201 00:06:19,840 --> 00:06:22,960 these candles very well is because these 202 00:06:22,240 --> 00:06:25,600 candles 203 00:06:22,960 --> 00:06:26,240 tell a story they tell us throughout the 204 00:06:25,600 --> 00:06:28,639 day 205 00:06:26,240 --> 00:06:29,840 and it's called price action okay the 206 00:06:28,639 --> 00:06:32,080 price action 207 00:06:29,840 --> 00:06:33,280 will show us what is happening 208 00:06:32,080 --> 00:06:35,520 throughout the day 209 00:06:33,280 --> 00:06:37,120 and after it's happened already these 210 00:06:35,520 --> 00:06:38,720 candles will form 211 00:06:37,120 --> 00:06:40,400 now it's really important because they 212 00:06:38,720 --> 00:06:42,880 really do tell a story 213 00:06:40,400 --> 00:06:44,880 and once you learn how to read the story 214 00:06:42,880 --> 00:06:46,960 it really does become like a book 215 00:06:44,880 --> 00:06:48,560 and once you learn how to read this book 216 00:06:46,960 --> 00:06:50,800 it will actually increase your 217 00:06:48,560 --> 00:06:52,960 probability of leaning towards a 218 00:06:50,800 --> 00:06:54,800 specific way or another way 219 00:06:52,960 --> 00:06:56,560 and once you get these probabilities 220 00:06:54,800 --> 00:06:59,280 down guys you guys are going to be 221 00:06:56,560 --> 00:07:00,319 much much much more successful over time 222 00:06:59,280 --> 00:07:01,919 i guarantee it 223 00:07:00,319 --> 00:07:03,919 so make sure that you're putting a lot 224 00:07:01,919 --> 00:07:06,080 of emphasis in learning 225 00:07:03,919 --> 00:07:07,360 how to read these candles because i want 226 00:07:06,080 --> 00:07:08,639 to make sure that you guys are 227 00:07:07,360 --> 00:07:10,720 successful traders 228 00:07:08,639 --> 00:07:12,800 i really do want to ensure that you guys 229 00:07:10,720 --> 00:07:14,400 know how to read this properly 230 00:07:12,800 --> 00:07:17,039 because it will only add to the 231 00:07:14,400 --> 00:07:19,280 probability of having a higher success 232 00:07:17,039 --> 00:07:21,360 rate when you're actually trading okay 233 00:07:19,280 --> 00:07:24,319 so as you guys can see here 234 00:07:21,360 --> 00:07:24,800 we have the open so what the open refers 235 00:07:24,319 --> 00:07:26,479 to 236 00:07:24,800 --> 00:07:28,240 is this right here and i'm going to 237 00:07:26,479 --> 00:07:32,560 annotate it all for you guys 238 00:07:28,240 --> 00:07:35,120 the open is right here okay 239 00:07:32,560 --> 00:07:36,800 this is where the candle opened so just 240 00:07:35,120 --> 00:07:38,400 as an example i'll move this to the to 241 00:07:36,800 --> 00:07:40,080 the side actually so we can deal with 242 00:07:38,400 --> 00:07:43,120 the red candle in a little bit 243 00:07:40,080 --> 00:07:43,440 so this is the open let's say that this 244 00:07:43,120 --> 00:07:45,759 was 245 00:07:43,440 --> 00:07:46,960 ten dollars okay we're just gonna 246 00:07:45,759 --> 00:07:49,680 hypothetical 247 00:07:46,960 --> 00:07:50,080 okay this line right here that it's on 248 00:07:49,680 --> 00:07:53,360 right 249 00:07:50,080 --> 00:07:54,400 right there this specific line right 250 00:07:53,360 --> 00:07:57,520 here 251 00:07:54,400 --> 00:07:59,520 that is ten dollars right so now what 252 00:07:57,520 --> 00:08:00,879 would the clothes refer to what what do 253 00:07:59,520 --> 00:08:02,720 you guys think actually sorry 254 00:08:00,879 --> 00:08:04,000 this would be the open my mistake there 255 00:08:02,720 --> 00:08:05,520 guys okay this 256 00:08:04,000 --> 00:08:07,039 is actually the open right here i was 257 00:08:05,520 --> 00:08:09,759 thinking we were at a red candle 258 00:08:07,039 --> 00:08:10,240 so this is the open where it starts to 259 00:08:09,759 --> 00:08:12,879 open 260 00:08:10,240 --> 00:08:14,639 up the candle at ten dollars so what do 261 00:08:12,879 --> 00:08:16,800 you guys think the close would be 262 00:08:14,639 --> 00:08:18,560 let's just pretend here that this is 263 00:08:16,800 --> 00:08:21,759 eleven dollars okay 264 00:08:18,560 --> 00:08:24,240 right here is eleven dollars do you guys 265 00:08:21,759 --> 00:08:26,560 think that this would be the close 266 00:08:24,240 --> 00:08:28,080 yeah it would be the close okay so if 267 00:08:26,560 --> 00:08:30,000 that was ten dollars here 268 00:08:28,080 --> 00:08:31,280 we'll just pretend that this one here 269 00:08:30,000 --> 00:08:34,399 closed 270 00:08:31,280 --> 00:08:37,360 at 11 okay just like that 271 00:08:34,399 --> 00:08:38,800 so this is the open because we have to 272 00:08:37,360 --> 00:08:41,039 think about it from the ground 273 00:08:38,800 --> 00:08:42,240 up right we have to think about it from 274 00:08:41,039 --> 00:08:44,959 this particular 275 00:08:42,240 --> 00:08:46,720 way up right here okay it's going 276 00:08:44,959 --> 00:08:49,200 upwards like that right 277 00:08:46,720 --> 00:08:50,720 does that make sense so we think about 278 00:08:49,200 --> 00:08:54,160 it from the perspective 279 00:08:50,720 --> 00:08:57,040 of going down to up because 280 00:08:54,160 --> 00:08:58,720 it is green so let's take a look at this 281 00:08:57,040 --> 00:08:59,760 one right here okay let's take a look at 282 00:08:58,720 --> 00:09:02,480 the red one 283 00:08:59,760 --> 00:09:02,880 so because the red one is actually going 284 00:09:02,480 --> 00:09:05,760 from 285 00:09:02,880 --> 00:09:06,480 up to down we would actually think about 286 00:09:05,760 --> 00:09:09,200 it from the 287 00:09:06,480 --> 00:09:10,160 other way okay let's just move this a 288 00:09:09,200 --> 00:09:12,160 little bit over 289 00:09:10,160 --> 00:09:13,839 so you guys can get a very clear picture 290 00:09:12,160 --> 00:09:15,519 of what's going on right now 291 00:09:13,839 --> 00:09:17,200 i don't want to constrain you guys with 292 00:09:15,519 --> 00:09:19,360 too little room here 293 00:09:17,200 --> 00:09:20,560 so i hope this makes sense where because 294 00:09:19,360 --> 00:09:23,360 it's green 295 00:09:20,560 --> 00:09:24,160 you're thinking about it from going down 296 00:09:23,360 --> 00:09:27,360 to up 297 00:09:24,160 --> 00:09:30,080 right now if we look at it from the 298 00:09:27,360 --> 00:09:31,200 other perspective of a red candle right 299 00:09:30,080 --> 00:09:33,279 we would think about it from the 300 00:09:31,200 --> 00:09:37,200 perspective of going up 301 00:09:33,279 --> 00:09:40,880 to down so the open would actually be 302 00:09:37,200 --> 00:09:42,959 up here okay this would be the open 303 00:09:40,880 --> 00:09:44,399 and this right here would be the close 304 00:09:42,959 --> 00:09:46,800 of the candle 305 00:09:44,399 --> 00:09:47,760 so this is an important concept because 306 00:09:46,800 --> 00:09:50,160 you guys will hear 307 00:09:47,760 --> 00:09:52,240 very often about about traders talking 308 00:09:50,160 --> 00:09:54,160 about okay what did the candle open at 309 00:09:52,240 --> 00:09:56,720 and a lot of the times if a candle 310 00:09:54,160 --> 00:09:59,040 actually ends up opening higher 311 00:09:56,720 --> 00:10:00,880 than the previous candle on a high time 312 00:09:59,040 --> 00:10:01,680 frame then it could indicate the 313 00:10:00,880 --> 00:10:04,000 momentum 314 00:10:01,680 --> 00:10:07,279 that's heading and where it's heading so 315 00:10:04,000 --> 00:10:11,120 if this one here was the open 316 00:10:07,279 --> 00:10:12,720 at 10 11 rather okay 317 00:10:11,120 --> 00:10:14,880 then where do you guys think the close 318 00:10:12,720 --> 00:10:18,240 would be 319 00:10:14,880 --> 00:10:23,920 yeah if you guys said this was the close 320 00:10:18,240 --> 00:10:25,680 close at at ten dollars right here okay 321 00:10:23,920 --> 00:10:26,959 so yeah this would be the close at ten 322 00:10:25,680 --> 00:10:30,480 dollars so once again 323 00:10:26,959 --> 00:10:32,320 when we have a candle right that opens 324 00:10:30,480 --> 00:10:34,800 at ten dollars 325 00:10:32,320 --> 00:10:36,959 and it closes at eleven dollars it's 326 00:10:34,800 --> 00:10:39,839 means that it went from the bottom 327 00:10:36,959 --> 00:10:40,959 to the top now if you have a candle that 328 00:10:39,839 --> 00:10:42,959 is red 329 00:10:40,959 --> 00:10:44,160 and it was actually down trending then 330 00:10:42,959 --> 00:10:48,480 you would see it 331 00:10:44,160 --> 00:10:51,200 the open at 11 and the close is at 10 332 00:10:48,480 --> 00:10:53,279 but because these candles have no wick 333 00:10:51,200 --> 00:10:56,959 what we're also going to say 334 00:10:53,279 --> 00:11:00,000 is that the high is also the same 335 00:10:56,959 --> 00:11:04,000 as the actual open okay so 336 00:11:00,000 --> 00:11:06,240 the high is also 11 337 00:11:04,000 --> 00:11:07,200 right that's the high the highest at 338 00:11:06,240 --> 00:11:10,240 this possible 339 00:11:07,200 --> 00:11:13,360 candle actually got okay now what do you 340 00:11:10,240 --> 00:11:14,959 guys think the low is 341 00:11:13,360 --> 00:11:16,560 yeah if you guys said the low was ten 342 00:11:14,959 --> 00:11:20,640 dollars you got it okay 343 00:11:16,560 --> 00:11:20,640 so the low is also ten dollars 344 00:11:20,720 --> 00:11:24,399 so for this one right here what do you 345 00:11:22,640 --> 00:11:27,040 guys think the high is 346 00:11:24,399 --> 00:11:27,040 take a guess 347 00:11:27,519 --> 00:11:31,360 yeah if you said the high was also 348 00:11:29,200 --> 00:11:34,480 eleven dollars you got it 349 00:11:31,360 --> 00:11:34,480 what do you think the low is 350 00:11:35,040 --> 00:11:38,640 if you guys said low was ten dollars you 351 00:11:37,200 --> 00:11:42,240 got it okay 352 00:11:38,640 --> 00:11:44,240 so pretty easy concepts right now okay 353 00:11:42,240 --> 00:11:46,240 so i've changed it over to a daily chart 354 00:11:44,240 --> 00:11:48,480 now and i just want to reiterate one 355 00:11:46,240 --> 00:11:51,600 more time to be very clear okay 356 00:11:48,480 --> 00:11:52,880 the it opened here because this was a 357 00:11:51,600 --> 00:11:56,720 green candle 358 00:11:52,880 --> 00:11:58,720 it goes from the bottom to the top right 359 00:11:56,720 --> 00:12:01,680 that makes sense goes from the bottom 360 00:11:58,720 --> 00:12:02,240 here to the top because we're going from 361 00:12:01,680 --> 00:12:06,240 low 362 00:12:02,240 --> 00:12:08,639 to high right so the low is ten dollars 363 00:12:06,240 --> 00:12:09,680 and it opened at each ten dollars as 364 00:12:08,639 --> 00:12:13,360 well okay 365 00:12:09,680 --> 00:12:13,839 now the high is 11 and it's also the 366 00:12:13,360 --> 00:12:17,040 same 367 00:12:13,839 --> 00:12:19,040 as the close as well right 368 00:12:17,040 --> 00:12:20,880 and then the other way around we're 369 00:12:19,040 --> 00:12:24,800 going from 370 00:12:20,880 --> 00:12:27,120 we're going from up to down because 371 00:12:24,800 --> 00:12:29,519 this is where we're starting the opening 372 00:12:27,120 --> 00:12:30,000 price so this is actually a downtrend 373 00:12:29,519 --> 00:12:32,079 right 374 00:12:30,000 --> 00:12:33,440 so for example this green candle is 375 00:12:32,079 --> 00:12:36,959 going from down 376 00:12:33,440 --> 00:12:40,160 to up and this candle is going from up 377 00:12:36,959 --> 00:12:43,360 to down right so then the open 378 00:12:40,160 --> 00:12:46,399 is at 11 and that was also the high 379 00:12:43,360 --> 00:12:48,240 of that candle and then the low is it 380 00:12:46,399 --> 00:12:52,079 reached to a low of 10 381 00:12:48,240 --> 00:12:54,720 right which also closed at 10 as well 382 00:12:52,079 --> 00:12:55,200 so now let's introduce this concept of a 383 00:12:54,720 --> 00:12:59,200 wick 384 00:12:55,200 --> 00:12:59,200 okay let's talk about wicks 385 00:13:01,839 --> 00:13:05,920 and i'm sure that you guys have seen 386 00:13:03,200 --> 00:13:06,480 wits before so you guys see these wicks 387 00:13:05,920 --> 00:13:09,360 right 388 00:13:06,480 --> 00:13:12,480 we always see wicks as you guys can see 389 00:13:09,360 --> 00:13:15,120 what does a wick refer to okay 390 00:13:12,480 --> 00:13:16,959 a wick refers to this right here i'm 391 00:13:15,120 --> 00:13:17,600 gonna show you guys let's actually draw 392 00:13:16,959 --> 00:13:20,399 in 393 00:13:17,600 --> 00:13:20,959 some wicks in here okay do you guys see 394 00:13:20,399 --> 00:13:22,880 the white 395 00:13:20,959 --> 00:13:24,399 right there that's a white wick all 396 00:13:22,880 --> 00:13:26,399 right 397 00:13:24,399 --> 00:13:28,320 let's actually clear out the background 398 00:13:26,399 --> 00:13:28,720 so you guys can see it a little bit 399 00:13:28,320 --> 00:13:31,360 better 400 00:13:28,720 --> 00:13:31,920 here okay let's uh take out the vertical 401 00:13:31,360 --> 00:13:34,399 lines 402 00:13:31,920 --> 00:13:35,760 i don't we don't really need them right 403 00:13:34,399 --> 00:13:38,320 we definitely don't need them 404 00:13:35,760 --> 00:13:39,600 whatsoever so let's just take that out 405 00:13:38,320 --> 00:13:41,680 here for a moment 406 00:13:39,600 --> 00:13:43,600 so you guys can see it a little bit more 407 00:13:41,680 --> 00:13:46,160 visible and let's also 408 00:13:43,600 --> 00:13:47,440 make a wick on the other side as well 409 00:13:46,160 --> 00:13:49,680 okay 410 00:13:47,440 --> 00:13:51,120 let's make a wick there let's also make 411 00:13:49,680 --> 00:13:53,360 a wick here 412 00:13:51,120 --> 00:13:56,240 and let's also make a wick right there 413 00:13:53,360 --> 00:13:59,839 to make it easy for you guys to see 414 00:13:56,240 --> 00:14:01,760 okay let's draw some nice candles in 415 00:13:59,839 --> 00:14:03,839 here as well 416 00:14:01,760 --> 00:14:05,279 that's pretty visible guys yeah it 417 00:14:03,839 --> 00:14:08,320 should be right okay 418 00:14:05,279 --> 00:14:10,240 so now we have the same concept 419 00:14:08,320 --> 00:14:11,360 right the exact same concept where we're 420 00:14:10,240 --> 00:14:14,720 going from down to 421 00:14:11,360 --> 00:14:17,760 up okay so once again this right here 422 00:14:14,720 --> 00:14:20,959 just refers to the body okay 423 00:14:17,760 --> 00:14:22,320 body of the candle known as just the 424 00:14:20,959 --> 00:14:24,320 body okay 425 00:14:22,320 --> 00:14:26,800 that's the body of the candle and this 426 00:14:24,320 --> 00:14:29,680 is just the body of the candle in here 427 00:14:26,800 --> 00:14:30,000 so the body does not actually refer to 428 00:14:29,680 --> 00:14:33,120 the 429 00:14:30,000 --> 00:14:35,199 wicks at all so what are these wicks and 430 00:14:33,120 --> 00:14:38,320 how can we talk about them okay 431 00:14:35,199 --> 00:14:41,440 so now we're still going from down to up 432 00:14:38,320 --> 00:14:42,399 but the only thing that changed was that 433 00:14:41,440 --> 00:14:45,519 there was a wick 434 00:14:42,399 --> 00:14:48,240 okay so let's just say for example 435 00:14:45,519 --> 00:14:50,000 that we say that it's still open at 10 436 00:14:48,240 --> 00:14:52,800 it's just to say there's no wick for now 437 00:14:50,000 --> 00:14:54,880 just as an example first of all okay 438 00:14:52,800 --> 00:14:56,480 there's only a wick up here at the top 439 00:14:54,880 --> 00:14:58,959 and not one at the bottom 440 00:14:56,480 --> 00:15:01,199 well the high where do you guys think 441 00:14:58,959 --> 00:15:03,519 the high is now that we have a wick 442 00:15:01,199 --> 00:15:04,880 well the high is actually up here now 443 00:15:03,519 --> 00:15:08,399 right 444 00:15:04,880 --> 00:15:11,440 so perhaps this high was of 12 right 445 00:15:08,399 --> 00:15:12,880 so the high is where the highest point 446 00:15:11,440 --> 00:15:15,600 of the wick actually 447 00:15:12,880 --> 00:15:16,720 where it got to so now this is the high 448 00:15:15,600 --> 00:15:18,480 of the candle 449 00:15:16,720 --> 00:15:20,399 because that's where the wick is right 450 00:15:18,480 --> 00:15:22,560 that makes sense guys 451 00:15:20,399 --> 00:15:23,920 so this top point right there is the 452 00:15:22,560 --> 00:15:26,639 high of the candle 453 00:15:23,920 --> 00:15:28,000 so we still see it as the exact same way 454 00:15:26,639 --> 00:15:31,279 where it opened 455 00:15:28,000 --> 00:15:34,240 at ten dollars right 456 00:15:31,279 --> 00:15:35,199 and then it got to a high of twelve 457 00:15:34,240 --> 00:15:37,680 dollars 458 00:15:35,199 --> 00:15:38,320 and then it closed over here eleven 459 00:15:37,680 --> 00:15:41,120 dollars 460 00:15:38,320 --> 00:15:41,680 now you might wonder what would cause a 461 00:15:41,120 --> 00:15:44,959 wick 462 00:15:41,680 --> 00:15:45,839 okay what would cause a wick so the body 463 00:15:44,959 --> 00:15:48,880 of the candle 464 00:15:45,839 --> 00:15:52,000 is only the solid part of the candle 465 00:15:48,880 --> 00:15:54,079 that people will start buying and if it 466 00:15:52,000 --> 00:15:56,480 closes with a body of a candle 467 00:15:54,079 --> 00:15:57,199 only that's where it officially closes 468 00:15:56,480 --> 00:16:00,240 people stop 469 00:15:57,199 --> 00:16:03,680 buying at that candle but what this wick 470 00:16:00,240 --> 00:16:05,519 actually refers to is that people bought 471 00:16:03,680 --> 00:16:07,519 they opened at ten dollars and people 472 00:16:05,519 --> 00:16:09,440 bought up to eleven dollars right 473 00:16:07,519 --> 00:16:11,440 and then they actually bought all the 474 00:16:09,440 --> 00:16:11,839 way up to twelve dollars okay they 475 00:16:11,440 --> 00:16:14,560 bought 476 00:16:11,839 --> 00:16:15,440 all the way up to twelve dollars right 477 00:16:14,560 --> 00:16:18,160 there 478 00:16:15,440 --> 00:16:18,959 but they actually couldn't sustain that 479 00:16:18,160 --> 00:16:21,759 price 480 00:16:18,959 --> 00:16:22,639 so if this actually pushed up to twelve 481 00:16:21,759 --> 00:16:25,120 dollars 482 00:16:22,639 --> 00:16:27,759 and it closed there then this one would 483 00:16:25,120 --> 00:16:31,279 have a close of twelve dollars as well 484 00:16:27,759 --> 00:16:32,399 okay but because people pushed it up to 485 00:16:31,279 --> 00:16:34,160 twelve dollars 486 00:16:32,399 --> 00:16:35,519 and then they could not sustain that 487 00:16:34,160 --> 00:16:38,639 price well people 488 00:16:35,519 --> 00:16:39,839 started selling off right because they 489 00:16:38,639 --> 00:16:42,000 started selling off 490 00:16:39,839 --> 00:16:43,600 selling off selling off selling off 491 00:16:42,000 --> 00:16:45,360 selling off selling off 492 00:16:43,600 --> 00:16:46,639 and then it came back to the price of 493 00:16:45,360 --> 00:16:49,680 eleven dollars 494 00:16:46,639 --> 00:16:52,560 right so so we what we see 495 00:16:49,680 --> 00:16:53,680 is that it got up to the high of this 496 00:16:52,560 --> 00:16:56,880 candle right here 497 00:16:53,680 --> 00:16:57,360 or the wick rather of 12 and then people 498 00:16:56,880 --> 00:16:59,600 started 499 00:16:57,360 --> 00:17:00,639 selling it down okay they started 500 00:16:59,600 --> 00:17:03,519 selling it down 501 00:17:00,639 --> 00:17:04,480 and instead of closing at 12 up there 502 00:17:03,519 --> 00:17:07,600 the close 503 00:17:04,480 --> 00:17:10,160 was actually at eleven dollars instead 504 00:17:07,600 --> 00:17:12,240 now let's introduce another concept of a 505 00:17:10,160 --> 00:17:14,079 wick down here okay 506 00:17:12,240 --> 00:17:15,760 and we see that often do you guys see 507 00:17:14,079 --> 00:17:18,480 this candle right here 508 00:17:15,760 --> 00:17:20,319 it has a wick on the downside right and 509 00:17:18,480 --> 00:17:22,799 it has a wick on the upside 510 00:17:20,319 --> 00:17:23,360 and it has a body of the candle right 511 00:17:22,799 --> 00:17:26,319 here 512 00:17:23,360 --> 00:17:26,959 as well right okay i'm sure you guys do 513 00:17:26,319 --> 00:17:28,960 see that 514 00:17:26,959 --> 00:17:30,080 so let's talk about what happened here 515 00:17:28,960 --> 00:17:33,200 so 516 00:17:30,080 --> 00:17:37,280 the open of the candle is always where 517 00:17:33,200 --> 00:17:38,000 the body begins okay and the high of the 518 00:17:37,280 --> 00:17:39,760 candle 519 00:17:38,000 --> 00:17:41,919 is always or sorry the close of the 520 00:17:39,760 --> 00:17:45,200 candle is always where the body 521 00:17:41,919 --> 00:17:47,679 ends right and the high of the candle 522 00:17:45,200 --> 00:17:48,320 and the whole thing refers to the how 523 00:17:47,679 --> 00:17:51,760 high 524 00:17:48,320 --> 00:17:54,799 that entire candle got including 525 00:17:51,760 --> 00:17:56,799 the wick and then the low will mean the 526 00:17:54,799 --> 00:18:00,160 exact same thing then right 527 00:17:56,799 --> 00:18:03,039 it'll mean that what is the lowest point 528 00:18:00,160 --> 00:18:04,080 of the candle that it actually got to of 529 00:18:03,039 --> 00:18:06,640 the whole thing 530 00:18:04,080 --> 00:18:07,760 including the wick well it's still 531 00:18:06,640 --> 00:18:11,280 opened here 532 00:18:07,760 --> 00:18:13,840 right let's see that we're that this 533 00:18:11,280 --> 00:18:14,640 low actually got to nine dollars instead 534 00:18:13,840 --> 00:18:17,039 okay 535 00:18:14,640 --> 00:18:18,559 so what could have happened right what 536 00:18:17,039 --> 00:18:21,120 could have happened to make 537 00:18:18,559 --> 00:18:22,720 the low right there the lowest point of 538 00:18:21,120 --> 00:18:25,760 the candle nine dollars 539 00:18:22,720 --> 00:18:27,360 where where it opens at ten dollars 540 00:18:25,760 --> 00:18:29,520 and it pushes up to there but it still 541 00:18:27,360 --> 00:18:30,799 closes 11. so let's think about that for 542 00:18:29,520 --> 00:18:32,720 a moment i'm going to give you guys a 543 00:18:30,799 --> 00:18:33,760 few seconds to think about what kind of 544 00:18:32,720 --> 00:18:36,799 scenarios 545 00:18:33,760 --> 00:18:43,840 do you think that would make a wick on 546 00:18:36,799 --> 00:18:43,840 the bottom end like this 547 00:18:44,799 --> 00:18:48,400 can you guys come up with any good ideas 548 00:18:46,720 --> 00:18:51,679 i can come up with a few good ideas i 549 00:18:48,400 --> 00:18:51,679 can share if that's for sure 550 00:18:52,080 --> 00:18:57,360 all right so what could happen here 551 00:18:55,440 --> 00:18:58,720 is this let me show you guys and tell 552 00:18:57,360 --> 00:19:01,039 you so let's see 553 00:18:58,720 --> 00:19:03,440 it opened at ten dollars right the 554 00:19:01,039 --> 00:19:06,240 candle in the next candle that formed 555 00:19:03,440 --> 00:19:08,000 this is where the first price and the 556 00:19:06,240 --> 00:19:10,000 people interacting with the market 557 00:19:08,000 --> 00:19:12,160 actually ended up buying it so they 558 00:19:10,000 --> 00:19:15,200 first bought it at ten dollars right 559 00:19:12,160 --> 00:19:18,160 but what it could actually mean is that 560 00:19:15,200 --> 00:19:18,400 people could have sold off okay it could 561 00:19:18,160 --> 00:19:21,440 have 562 00:19:18,400 --> 00:19:23,200 sold off to nine dollars first of all 563 00:19:21,440 --> 00:19:25,200 right people could have sold off to nine 564 00:19:23,200 --> 00:19:26,240 dollars if they did sell off to nine 565 00:19:25,200 --> 00:19:28,080 dollars first 566 00:19:26,240 --> 00:19:30,400 right this would actually look like a 567 00:19:28,080 --> 00:19:33,360 red candle like that down 568 00:19:30,400 --> 00:19:33,760 right so people sold off okay they sold 569 00:19:33,360 --> 00:19:35,520 off 570 00:19:33,760 --> 00:19:37,360 to nine dollars where it's actually 571 00:19:35,520 --> 00:19:38,000 gonna look red like this first and i'm 572 00:19:37,360 --> 00:19:39,520 actually going to go 573 00:19:38,000 --> 00:19:41,440 through all the motions to make sure you 574 00:19:39,520 --> 00:19:42,880 guys understand so it would have been 575 00:19:41,440 --> 00:19:44,720 red like that at first 576 00:19:42,880 --> 00:19:46,880 and it actually would have had no wick 577 00:19:44,720 --> 00:19:49,039 so it would have opened that ten dollars 578 00:19:46,880 --> 00:19:50,320 and reached a low of nine dollars but 579 00:19:49,039 --> 00:19:52,720 because 580 00:19:50,320 --> 00:19:53,600 it didn't actually sustain that price 581 00:19:52,720 --> 00:19:56,000 the market 582 00:19:53,600 --> 00:19:56,799 pushed it back up like this okay they 583 00:19:56,000 --> 00:19:59,440 pushed it back 584 00:19:56,799 --> 00:20:00,799 up back to the original opening and then 585 00:19:59,440 --> 00:20:03,120 instead of being red 586 00:20:00,799 --> 00:20:04,880 remember that if it's red it means that 587 00:20:03,120 --> 00:20:07,600 the price is going down 588 00:20:04,880 --> 00:20:08,960 if it's green the price is going up like 589 00:20:07,600 --> 00:20:12,080 that right 590 00:20:08,960 --> 00:20:14,240 so red will go down right 591 00:20:12,080 --> 00:20:15,440 green will go up so red right here for 592 00:20:14,240 --> 00:20:18,320 example right 593 00:20:15,440 --> 00:20:20,080 if it opened right here at 11 red will 594 00:20:18,320 --> 00:20:22,880 mean that it's pushing it down 595 00:20:20,080 --> 00:20:23,919 like that right to the close so it 596 00:20:22,880 --> 00:20:26,159 opened here 597 00:20:23,919 --> 00:20:27,039 and now it's about to close right there 598 00:20:26,159 --> 00:20:29,120 okay 599 00:20:27,039 --> 00:20:30,400 and then if it's going up this is where 600 00:20:29,120 --> 00:20:33,760 the open is 601 00:20:30,400 --> 00:20:35,520 and then we're going up up up up right 602 00:20:33,760 --> 00:20:37,440 people are buying it up but if it goes 603 00:20:35,520 --> 00:20:39,039 down the candle the price goes down 604 00:20:37,440 --> 00:20:41,919 it'll move down like that 605 00:20:39,039 --> 00:20:42,240 so what this refers to is that people 606 00:20:41,919 --> 00:20:44,320 are 607 00:20:42,240 --> 00:20:45,280 actually buying right there guys right 608 00:20:44,320 --> 00:20:47,440 they're buying it 609 00:20:45,280 --> 00:20:48,480 well first of all once again people were 610 00:20:47,440 --> 00:20:51,679 selling it off 611 00:20:48,480 --> 00:20:53,200 to nine dollars opened at ten dollars 612 00:20:51,679 --> 00:20:56,000 people sold it off to nine 613 00:20:53,200 --> 00:20:58,159 but the market defended and because they 614 00:20:56,000 --> 00:21:01,120 defended and they pushed it back up 615 00:20:58,159 --> 00:21:02,400 there's now a wick right there's now an 616 00:21:01,120 --> 00:21:05,360 actual wick 617 00:21:02,400 --> 00:21:06,000 so then the market pushes it up and up 618 00:21:05,360 --> 00:21:09,440 and up 619 00:21:06,000 --> 00:21:11,200 and up all the way to 12 right to 12 620 00:21:09,440 --> 00:21:13,039 that's where they're at but because the 621 00:21:11,200 --> 00:21:15,679 market could not sustain it 622 00:21:13,039 --> 00:21:16,240 at that particular price then what they 623 00:21:15,679 --> 00:21:18,960 do is 624 00:21:16,240 --> 00:21:20,159 the market pushes it back down like that 625 00:21:18,960 --> 00:21:23,120 and that's why 626 00:21:20,159 --> 00:21:25,120 we could actually have a wick okay so i 627 00:21:23,120 --> 00:21:27,120 hope that makes a lot of sense 628 00:21:25,120 --> 00:21:29,600 you guys are gonna hear me talk about it 629 00:21:27,120 --> 00:21:31,440 a lot in the next few videos right 630 00:21:29,600 --> 00:21:33,039 and i will be talking about the market 631 00:21:31,440 --> 00:21:35,280 psychology behind 632 00:21:33,039 --> 00:21:36,159 each candle as well because the 633 00:21:35,280 --> 00:21:38,720 psychology 634 00:21:36,159 --> 00:21:40,799 behind each candle is incredibly 635 00:21:38,720 --> 00:21:41,919 important since they actually tell a 636 00:21:40,799 --> 00:21:43,919 story right 637 00:21:41,919 --> 00:21:45,280 and because they tell a story i 638 00:21:43,919 --> 00:21:47,280 definitely can guarantee 639 00:21:45,280 --> 00:21:48,799 that that once you guys learn how to 640 00:21:47,280 --> 00:21:51,039 read these storied books 641 00:21:48,799 --> 00:21:53,520 it's going to increase the probability 642 00:21:51,039 --> 00:21:54,799 of you making a successful trade 643 00:21:53,520 --> 00:21:57,039 and if you actually increase the 644 00:21:54,799 --> 00:21:58,559 probability of making a successful trade 645 00:21:57,039 --> 00:22:00,480 well guess what guys you're gonna be 646 00:21:58,559 --> 00:22:02,159 profitable over time right and the money 647 00:22:00,480 --> 00:22:05,200 will actually start to roll in 648 00:22:02,159 --> 00:22:07,760 so now let's look at the red candle okay 649 00:22:05,200 --> 00:22:08,880 let's look at the red candle here right 650 00:22:07,760 --> 00:22:11,679 and let's just say 651 00:22:08,880 --> 00:22:13,919 that it opened at ten dollars so it 652 00:22:11,679 --> 00:22:16,000 first of all started right there okay 653 00:22:13,919 --> 00:22:18,159 started right there and then the market 654 00:22:16,000 --> 00:22:20,480 wanted and that's also the high 655 00:22:18,159 --> 00:22:21,200 right because this is the high at eleven 656 00:22:20,480 --> 00:22:23,919 dollars 657 00:22:21,200 --> 00:22:25,760 and it also opened at that price so then 658 00:22:23,919 --> 00:22:28,480 the market decides to sell down 659 00:22:25,760 --> 00:22:29,200 decide to sell it down sell it down sell 660 00:22:28,480 --> 00:22:32,480 it down 661 00:22:29,200 --> 00:22:36,320 sell it down sell it down right 662 00:22:32,480 --> 00:22:39,840 if it actually if it actually um 663 00:22:36,320 --> 00:22:40,559 oops my mistake if it actually closed 664 00:22:39,840 --> 00:22:42,960 right here 665 00:22:40,559 --> 00:22:44,799 right then we would say that the low is 666 00:22:42,960 --> 00:22:48,240 the same as the close 667 00:22:44,799 --> 00:22:49,280 right right there but let's just say for 668 00:22:48,240 --> 00:22:51,280 example 669 00:22:49,280 --> 00:22:52,559 that it actually got to nine dollars 670 00:22:51,280 --> 00:22:55,360 okay 671 00:22:52,559 --> 00:22:58,320 nine dollars right here all the way down 672 00:22:55,360 --> 00:22:58,320 to over here right 673 00:23:03,120 --> 00:23:07,440 all right so let's say that this low was 674 00:23:05,600 --> 00:23:08,240 actually nine dollars right down over 675 00:23:07,440 --> 00:23:10,320 here right 676 00:23:08,240 --> 00:23:11,520 so what would possess it to do so think 677 00:23:10,320 --> 00:23:12,880 of it like this with me okay 678 00:23:11,520 --> 00:23:14,720 i'm just gonna hold up my hand here to 679 00:23:12,880 --> 00:23:15,520 give you guys a good idea so we're gonna 680 00:23:14,720 --> 00:23:18,480 sell it down 681 00:23:15,520 --> 00:23:18,480 we're gonna sell it down 682 00:23:20,159 --> 00:23:25,440 whoops my mistake 683 00:23:23,600 --> 00:23:27,520 okay we're gonna keep selling it down 684 00:23:25,440 --> 00:23:30,480 okay it's gonna keep selling down 685 00:23:27,520 --> 00:23:31,120 selling down selling down selling down 686 00:23:30,480 --> 00:23:34,000 okay 687 00:23:31,120 --> 00:23:36,159 selling down i'm not sure why this is 688 00:23:34,000 --> 00:23:38,720 looking like that right now that's kind 689 00:23:36,159 --> 00:23:40,080 of kind of weird 690 00:23:38,720 --> 00:23:42,000 there that might be a little bit better 691 00:23:40,080 --> 00:23:44,320 now okay sorry about that guys 692 00:23:42,000 --> 00:23:45,600 so now we're selling it down selling it 693 00:23:44,320 --> 00:23:47,440 down selling it down 694 00:23:45,600 --> 00:23:49,279 selling it down and it actually got to 695 00:23:47,440 --> 00:23:52,320 nine dollars right here okay 696 00:23:49,279 --> 00:23:52,720 it got to nine dollars right here and 697 00:23:52,320 --> 00:23:56,000 now 698 00:23:52,720 --> 00:23:58,880 if it actually closed there right 699 00:23:56,000 --> 00:23:59,279 if it actually closed right here then 700 00:23:58,880 --> 00:24:02,559 the 701 00:23:59,279 --> 00:24:05,039 open or sorry the close and the low 702 00:24:02,559 --> 00:24:06,320 would actually be nine dollars right but 703 00:24:05,039 --> 00:24:08,559 because 704 00:24:06,320 --> 00:24:10,720 they actually could not sustain it right 705 00:24:08,559 --> 00:24:14,159 the market pushes it back up 706 00:24:10,720 --> 00:24:16,799 okay and as the market pushes it back up 707 00:24:14,159 --> 00:24:18,320 to ten dollars right here a wick 708 00:24:16,799 --> 00:24:21,039 actually ends up showing 709 00:24:18,320 --> 00:24:22,720 just like that right so instead of 710 00:24:21,039 --> 00:24:25,279 actually 711 00:24:22,720 --> 00:24:26,480 closing at nine dollars you now close at 712 00:24:25,279 --> 00:24:28,960 ten dollars 713 00:24:26,480 --> 00:24:30,720 so the psychology behind this candle as 714 00:24:28,960 --> 00:24:32,960 an example 715 00:24:30,720 --> 00:24:35,279 is that the market tried to push it 716 00:24:32,960 --> 00:24:39,120 really hard to nine dollars 717 00:24:35,279 --> 00:24:41,679 right and keep it there but the bulls 718 00:24:39,120 --> 00:24:42,400 actually ended up defending okay the 719 00:24:41,679 --> 00:24:44,240 bulls 720 00:24:42,400 --> 00:24:46,480 who are the people that actually want to 721 00:24:44,240 --> 00:24:46,880 profit by going long i'm always going to 722 00:24:46,480 --> 00:24:49,279 use 723 00:24:46,880 --> 00:24:51,440 bulls and bears quite often so make sure 724 00:24:49,279 --> 00:24:53,760 we're familiar with these terminologies 725 00:24:51,440 --> 00:24:55,600 remember that a bull attacks going 726 00:24:53,760 --> 00:24:56,880 upwards right they attack with their 727 00:24:55,600 --> 00:24:59,120 horns going up 728 00:24:56,880 --> 00:25:00,240 so they want the price to go up to make 729 00:24:59,120 --> 00:25:03,200 money but 730 00:25:00,240 --> 00:25:04,559 bears they want the price to go down 731 00:25:03,200 --> 00:25:07,039 because they either want to 732 00:25:04,559 --> 00:25:08,159 short the market or they want to buy 733 00:25:07,039 --> 00:25:10,720 back cheaper 734 00:25:08,159 --> 00:25:11,919 right so bears swipe with their claws 735 00:25:10,720 --> 00:25:14,159 coming down 736 00:25:11,919 --> 00:25:16,000 so we always think of the battles of the 737 00:25:14,159 --> 00:25:17,760 bulls versus the bears 738 00:25:16,000 --> 00:25:19,760 and they're constantly fighting 739 00:25:17,760 --> 00:25:22,480 constantly fighting each other 740 00:25:19,760 --> 00:25:23,200 back and forth back and forth so right 741 00:25:22,480 --> 00:25:26,320 here 742 00:25:23,200 --> 00:25:26,799 the bulls have defended and they pushed 743 00:25:26,320 --> 00:25:30,559 it back 744 00:25:26,799 --> 00:25:31,200 up right and then we actually see the 745 00:25:30,559 --> 00:25:34,480 wick 746 00:25:31,200 --> 00:25:37,520 so the low was now nine dollars right 747 00:25:34,480 --> 00:25:40,080 and now the close was ten dollars 748 00:25:37,520 --> 00:25:40,960 so let's also add another scenario like 749 00:25:40,080 --> 00:25:42,720 this okay 750 00:25:40,960 --> 00:25:44,720 we'll add this one right up there just 751 00:25:42,720 --> 00:25:47,200 as an example we have a wick 752 00:25:44,720 --> 00:25:48,960 so what would this possibly mean i'll 753 00:25:47,200 --> 00:25:51,520 give you guys a few seconds 754 00:25:48,960 --> 00:25:54,320 to think about what this scenario could 755 00:25:51,520 --> 00:25:56,000 actually mean okay 756 00:25:54,320 --> 00:25:57,919 so let's think about this together where 757 00:25:56,000 --> 00:26:00,960 we now have a high 758 00:25:57,919 --> 00:26:04,000 of twelve dollars okay and 759 00:26:00,960 --> 00:26:07,600 open of eleven dollars a 760 00:26:04,000 --> 00:26:09,600 close of ten dollars and a low 761 00:26:07,600 --> 00:26:11,760 of nine dollars i'll give you guys 30 762 00:26:09,600 --> 00:26:14,159 seconds 763 00:26:11,760 --> 00:26:16,960 while i have a sip of my peach mango 764 00:26:14,159 --> 00:26:16,960 drink right here 765 00:26:18,159 --> 00:26:22,159 to think about what circumstance could 766 00:26:20,960 --> 00:26:25,840 we actually have 767 00:26:22,159 --> 00:26:25,840 that right there 768 00:26:39,840 --> 00:26:43,279 all right let's get into this guys so 769 00:26:42,400 --> 00:26:46,480 let's say 770 00:26:43,279 --> 00:26:49,039 that we opened at 10 or so 11 771 00:26:46,480 --> 00:26:49,600 right here right so what could have 772 00:26:49,039 --> 00:26:52,960 happened 773 00:26:49,600 --> 00:26:54,240 in this candle is that the bowls okay we 774 00:26:52,960 --> 00:26:56,159 open right here 775 00:26:54,240 --> 00:26:58,080 and this would actually first of all it 776 00:26:56,159 --> 00:26:59,600 would have been a green candle right 777 00:26:58,080 --> 00:27:02,640 because we're going up 778 00:26:59,600 --> 00:27:04,080 so the open would have been 11 right if 779 00:27:02,640 --> 00:27:06,720 it had finished there 780 00:27:04,080 --> 00:27:07,520 then the close would have been 12 but 781 00:27:06,720 --> 00:27:10,400 because 782 00:27:07,520 --> 00:27:11,200 the bowls could not sustain it okay it 783 00:27:10,400 --> 00:27:13,360 gets green 784 00:27:11,200 --> 00:27:15,120 it gets green it gets green it's green 785 00:27:13,360 --> 00:27:17,360 it's green it's green it's green 786 00:27:15,120 --> 00:27:18,240 now the bears actually push it back down 787 00:27:17,360 --> 00:27:21,360 that when it gets 788 00:27:18,240 --> 00:27:23,279 past the point that it actually opened 789 00:27:21,360 --> 00:27:24,480 that is where the candle will actually 790 00:27:23,279 --> 00:27:26,640 start to turn red 791 00:27:24,480 --> 00:27:28,799 okay so that's what happened it was 792 00:27:26,640 --> 00:27:30,720 green green green at first right 793 00:27:28,799 --> 00:27:32,240 the bulls tried to push it up really 794 00:27:30,720 --> 00:27:34,640 high there 795 00:27:32,240 --> 00:27:35,919 but the bears actually pushed it all the 796 00:27:34,640 --> 00:27:39,360 way back down 797 00:27:35,919 --> 00:27:41,279 so anywhere there's a fight between the 798 00:27:39,360 --> 00:27:43,360 bulls and the bears 799 00:27:41,279 --> 00:27:44,559 that is where it is actually going to 800 00:27:43,360 --> 00:27:46,640 show a wick 801 00:27:44,559 --> 00:27:48,000 okay it's going to show a wick and then 802 00:27:46,640 --> 00:27:50,320 the bears end up pushing 803 00:27:48,000 --> 00:27:51,279 it down again pushing it down pushing it 804 00:27:50,320 --> 00:27:53,440 down right 805 00:27:51,279 --> 00:27:54,640 and they push it down all the way to 806 00:27:53,440 --> 00:27:56,399 over here right 807 00:27:54,640 --> 00:27:59,039 and because they push it down here but 808 00:27:56,399 --> 00:28:01,279 the bears could not hold their position 809 00:27:59,039 --> 00:28:02,720 then the bulls actually end up pushing 810 00:28:01,279 --> 00:28:05,279 it all the way back 811 00:28:02,720 --> 00:28:06,080 up like that okay they push it all the 812 00:28:05,279 --> 00:28:07,919 way back up 813 00:28:06,080 --> 00:28:09,760 just like that that makes a lot of sense 814 00:28:07,919 --> 00:28:12,720 i would imagine right guys 815 00:28:09,760 --> 00:28:13,039 so once again the bowls they are pushing 816 00:28:12,720 --> 00:28:15,360 it 817 00:28:13,039 --> 00:28:17,520 all the way up right right okay they 818 00:28:15,360 --> 00:28:19,520 push it all the way up just like that 819 00:28:17,520 --> 00:28:21,440 but they actually could not hold their 820 00:28:19,520 --> 00:28:22,320 ground and because they couldn't hold 821 00:28:21,440 --> 00:28:24,720 their ground 822 00:28:22,320 --> 00:28:26,640 the bears actually pushed it back down 823 00:28:24,720 --> 00:28:29,679 and that's why there's a long 824 00:28:26,640 --> 00:28:30,240 wick then the bears they keep driving it 825 00:28:29,679 --> 00:28:32,080 down 826 00:28:30,240 --> 00:28:34,000 the bears keep driving it down they 827 00:28:32,080 --> 00:28:34,960 drive it down more they drive it down 828 00:28:34,000 --> 00:28:36,880 even more 829 00:28:34,960 --> 00:28:38,399 right then they push it to all the way 830 00:28:36,880 --> 00:28:41,120 to nine dollars 831 00:28:38,399 --> 00:28:42,240 but the bulls actually end up defending 832 00:28:41,120 --> 00:28:45,120 and they push it back 833 00:28:42,240 --> 00:28:48,080 up that is why there's a wick so let me 834 00:28:45,120 --> 00:28:51,760 ask you guys this now okay 835 00:28:48,080 --> 00:28:55,200 what if okay what if 836 00:28:51,760 --> 00:28:56,960 this wick was really long okay let's say 837 00:28:55,200 --> 00:28:59,919 this wick was really long 838 00:28:56,960 --> 00:29:01,919 and this actually got all the way to 839 00:28:59,919 --> 00:29:04,320 seven dollars we'll say okay 840 00:29:01,919 --> 00:29:05,200 what do you guys think that this would 841 00:29:04,320 --> 00:29:08,399 mean 842 00:29:05,200 --> 00:29:09,200 if there was a really long wick at seven 843 00:29:08,399 --> 00:29:11,440 dollars 844 00:29:09,200 --> 00:29:12,799 okay what do you guys think that that 845 00:29:11,440 --> 00:29:15,120 means 846 00:29:12,799 --> 00:29:16,960 let's say we're on a downtrend okay 847 00:29:15,120 --> 00:29:19,600 we're on a downtrend 848 00:29:16,960 --> 00:29:21,279 and then we see this candle okay 849 00:29:19,600 --> 00:29:22,559 actually let me ask you guys two things 850 00:29:21,279 --> 00:29:25,600 okay 851 00:29:22,559 --> 00:29:29,200 let's say we're on a downtrend and and 852 00:29:25,600 --> 00:29:31,120 one candle was green like this okay 853 00:29:29,200 --> 00:29:32,240 right let's say one candle was green 854 00:29:31,120 --> 00:29:34,240 like this 855 00:29:32,240 --> 00:29:35,279 and they both got to seven dollars like 856 00:29:34,240 --> 00:29:37,600 that 857 00:29:35,279 --> 00:29:39,360 what do you think the difference between 858 00:29:37,600 --> 00:29:42,399 these two candles are 859 00:29:39,360 --> 00:29:46,880 where one is green and one is red 860 00:29:42,399 --> 00:29:46,880 but they both have a very long wick 861 00:29:50,880 --> 00:29:55,039 can anyone guess what it means i'll give 862 00:29:52,640 --> 00:29:55,760 you guys time really really think about 863 00:29:55,039 --> 00:29:58,159 this okay 864 00:29:55,760 --> 00:29:59,120 i want to give you guys a clue first of 865 00:29:58,159 --> 00:30:02,159 all 866 00:29:59,120 --> 00:30:03,120 you have to think of three dollars where 867 00:30:02,159 --> 00:30:06,080 the bulls 868 00:30:03,120 --> 00:30:08,399 ended up fighting back against the bears 869 00:30:06,080 --> 00:30:10,159 and defended their position so what do 870 00:30:08,399 --> 00:30:12,399 you guys think that this could actually 871 00:30:10,159 --> 00:30:12,399 mean 872 00:30:15,200 --> 00:30:18,720 okay let's get into it because i love 873 00:30:17,120 --> 00:30:21,039 talking about this okay 874 00:30:18,720 --> 00:30:22,000 what it means okay we'll talk about the 875 00:30:21,039 --> 00:30:26,640 red one first 876 00:30:22,000 --> 00:30:28,480 okay the red one opened here okay 877 00:30:26,640 --> 00:30:30,720 the red one open it could have it could 878 00:30:28,480 --> 00:30:32,399 mean many things first of all okay 879 00:30:30,720 --> 00:30:34,399 let's talk about all the different 880 00:30:32,399 --> 00:30:36,559 scenarios okay so 881 00:30:34,399 --> 00:30:37,760 it could it opened there for example 882 00:30:36,559 --> 00:30:39,919 right 883 00:30:37,760 --> 00:30:41,440 it opened there and the first thing that 884 00:30:39,919 --> 00:30:43,919 could have happened 885 00:30:41,440 --> 00:30:45,840 was this okay the first thing that could 886 00:30:43,919 --> 00:30:49,440 have happened 887 00:30:45,840 --> 00:30:50,880 is that it pushed all the way back up 888 00:30:49,440 --> 00:30:52,640 like we were talking about 889 00:30:50,880 --> 00:30:54,240 right it pushed all the way the bowls 890 00:30:52,640 --> 00:30:55,200 actually pushed all the way up here 891 00:30:54,240 --> 00:30:58,159 first right 892 00:30:55,200 --> 00:31:00,080 where this was green at first right but 893 00:30:58,159 --> 00:31:01,919 the bears ended up defending 894 00:31:00,080 --> 00:31:03,679 and they pushed it all the way down all 895 00:31:01,919 --> 00:31:05,919 the way down all the way down 896 00:31:03,679 --> 00:31:07,200 all the way down all the way down to 897 00:31:05,919 --> 00:31:09,360 seven dollars 898 00:31:07,200 --> 00:31:10,720 but now the bears and the people who are 899 00:31:09,360 --> 00:31:13,039 interested in the 900 00:31:10,720 --> 00:31:15,120 in the coin at this price they're like 901 00:31:13,039 --> 00:31:18,320 no at seven dollars 902 00:31:15,120 --> 00:31:20,559 we are actually going to hold our ground 903 00:31:18,320 --> 00:31:22,799 and we want to buy it back up we don't 904 00:31:20,559 --> 00:31:24,880 want to let it get past seven dollars 905 00:31:22,799 --> 00:31:26,799 so now the bulls step in and they're 906 00:31:24,880 --> 00:31:28,559 like okay we're pushing it up 907 00:31:26,799 --> 00:31:30,640 we're pushing it up we're pushing it up 908 00:31:28,559 --> 00:31:31,600 we're pushing it all the way back up to 909 00:31:30,640 --> 00:31:34,159 ten dollars 910 00:31:31,600 --> 00:31:34,720 okay so that's what it means it means 911 00:31:34,159 --> 00:31:37,200 that 912 00:31:34,720 --> 00:31:37,760 the range from seven dollars to ten 913 00:31:37,200 --> 00:31:40,480 dollars 914 00:31:37,760 --> 00:31:41,279 there was really strong support okay 915 00:31:40,480 --> 00:31:44,080 guys 916 00:31:41,279 --> 00:31:46,960 there was really really strong support 917 00:31:44,080 --> 00:31:49,600 that's what it basically means okay 918 00:31:46,960 --> 00:31:50,559 that it's not getting below that so we 919 00:31:49,600 --> 00:31:54,000 call this a 920 00:31:50,559 --> 00:31:57,200 bowl wick okay a bowl 921 00:31:54,000 --> 00:32:00,240 wick like b-u-l-l like the animal a 922 00:31:57,200 --> 00:32:03,679 bull wick because this refers to 923 00:32:00,240 --> 00:32:06,559 a really large price in rejection 924 00:32:03,679 --> 00:32:07,679 where the bears simply could not hold it 925 00:32:06,559 --> 00:32:10,159 at that price 926 00:32:07,679 --> 00:32:12,399 so the bulls actually end up defending 927 00:32:10,159 --> 00:32:13,039 that three dollar range with a really 928 00:32:12,399 --> 00:32:16,080 long 929 00:32:13,039 --> 00:32:16,559 wick and guys what we look for is we 930 00:32:16,080 --> 00:32:19,279 look for 931 00:32:16,559 --> 00:32:20,320 wicks okay we look for wicks because wix 932 00:32:19,279 --> 00:32:23,600 will give us the 933 00:32:20,320 --> 00:32:24,240 best indication of what we can actually 934 00:32:23,600 --> 00:32:26,960 do 935 00:32:24,240 --> 00:32:28,880 in terms of the ranges of defense and 936 00:32:26,960 --> 00:32:31,600 where these supports are 937 00:32:28,880 --> 00:32:33,279 so if we get a lot of support in these 938 00:32:31,600 --> 00:32:35,600 particular regions 939 00:32:33,279 --> 00:32:37,120 we're going to be able to find clues of 940 00:32:35,600 --> 00:32:40,000 where to actually go 941 00:32:37,120 --> 00:32:41,360 long okay so that's a very exciting 942 00:32:40,000 --> 00:32:44,720 concept 943 00:32:41,360 --> 00:32:45,279 okay so we call this a bulwick right 944 00:32:44,720 --> 00:32:47,919 guys 945 00:32:45,279 --> 00:32:48,559 a bowl of wick is what we want to hunt 946 00:32:47,919 --> 00:32:51,519 for 947 00:32:48,559 --> 00:32:52,399 okay now let's talk about the green 948 00:32:51,519 --> 00:32:55,039 candle 949 00:32:52,399 --> 00:32:56,159 versus the red candle okay every time i 950 00:32:55,039 --> 00:32:58,399 say candle 951 00:32:56,159 --> 00:32:59,679 it reminds me of my friend maria maria i 952 00:32:58,399 --> 00:33:00,399 miss talking to you if you're watching 953 00:32:59,679 --> 00:33:02,159 these videos 954 00:33:00,399 --> 00:33:04,399 you should really really get back in 955 00:33:02,159 --> 00:33:05,200 touch with me she got really too busy 956 00:33:04,399 --> 00:33:07,919 she got 957 00:33:05,200 --> 00:33:09,919 much much too busy um recently with 958 00:33:07,919 --> 00:33:10,559 school and everything so we kind of lost 959 00:33:09,919 --> 00:33:13,200 touch 960 00:33:10,559 --> 00:33:15,039 but every time i say the word candle it 961 00:33:13,200 --> 00:33:18,399 just reminds me of her accent 962 00:33:15,039 --> 00:33:20,000 it was kind of adorable so 963 00:33:18,399 --> 00:33:21,919 yeah anyways sorry sorry about the 964 00:33:20,000 --> 00:33:23,360 segway there in a little bit 965 00:33:21,919 --> 00:33:25,440 i hope you guys don't mind my small 966 00:33:23,360 --> 00:33:26,480 little anecdotes here and there and so 967 00:33:25,440 --> 00:33:28,320 on okay 968 00:33:26,480 --> 00:33:29,919 so let's talk about the difference 969 00:33:28,320 --> 00:33:33,039 between the red candle 970 00:33:29,919 --> 00:33:35,039 and the green candle okay so let's talk 971 00:33:33,039 --> 00:33:36,799 about this right now 972 00:33:35,039 --> 00:33:38,880 so the the actually we didn't even 973 00:33:36,799 --> 00:33:40,159 finish this one right so we talked about 974 00:33:38,880 --> 00:33:42,399 this first right here 975 00:33:40,159 --> 00:33:44,399 okay where we talked about it going high 976 00:33:42,399 --> 00:33:47,200 up and then the bears 977 00:33:44,399 --> 00:33:48,240 simply pushed it down down down down 978 00:33:47,200 --> 00:33:50,159 down here 979 00:33:48,240 --> 00:33:51,279 and then the bulls defended it to make 980 00:33:50,159 --> 00:33:53,600 it come back up 981 00:33:51,279 --> 00:33:55,679 so we have a red candle keep in mind 982 00:33:53,600 --> 00:33:56,720 right it's a red candle regardless of 983 00:33:55,679 --> 00:33:58,960 how you see it 984 00:33:56,720 --> 00:33:59,919 so the other way is it could actually 985 00:33:58,960 --> 00:34:02,080 have gone 986 00:33:59,919 --> 00:34:04,000 down first right it could have gone down 987 00:34:02,080 --> 00:34:06,640 first down first like that 988 00:34:04,000 --> 00:34:08,079 down first right and then the bulls 989 00:34:06,640 --> 00:34:10,320 actually defended it 990 00:34:08,079 --> 00:34:11,280 the bulls defended it pushed it all the 991 00:34:10,320 --> 00:34:13,520 way back up 992 00:34:11,280 --> 00:34:15,200 pushed it all the way back up like that 993 00:34:13,520 --> 00:34:17,359 right 994 00:34:15,200 --> 00:34:19,599 and then what ended up happening was the 995 00:34:17,359 --> 00:34:20,560 bears actually pushed it all the way 996 00:34:19,599 --> 00:34:23,919 back down 997 00:34:20,560 --> 00:34:26,560 so you can see more of a struggle 998 00:34:23,919 --> 00:34:27,359 when it actually comes to the red candle 999 00:34:26,560 --> 00:34:30,639 right 1000 00:34:27,359 --> 00:34:31,119 red candle it's super bearish compared 1001 00:34:30,639 --> 00:34:33,520 to 1002 00:34:31,119 --> 00:34:34,159 what we're just about to talk about here 1003 00:34:33,520 --> 00:34:36,399 okay 1004 00:34:34,159 --> 00:34:37,359 so let's say we talk take a look at this 1005 00:34:36,399 --> 00:34:39,119 one now right 1006 00:34:37,359 --> 00:34:40,480 so this one could have happened like 1007 00:34:39,119 --> 00:34:43,359 this right 1008 00:34:40,480 --> 00:34:45,040 now what we want to see is the the first 1009 00:34:43,359 --> 00:34:47,520 way first of all is that 1010 00:34:45,040 --> 00:34:48,399 the the bowls attempted to push it up 1011 00:34:47,520 --> 00:34:51,919 right 1012 00:34:48,399 --> 00:34:54,159 it opened up here at 11 right 1013 00:34:51,919 --> 00:34:55,280 or sorry sorry it opened here on the 1014 00:34:54,159 --> 00:34:57,280 bottom right 1015 00:34:55,280 --> 00:34:59,119 opened here and then what ended up 1016 00:34:57,280 --> 00:35:00,400 happening was it went it the bulls 1017 00:34:59,119 --> 00:35:02,240 pushed it up first 1018 00:35:00,400 --> 00:35:03,520 pushed it up pushed it up right pushed 1019 00:35:02,240 --> 00:35:06,079 it up like that 1020 00:35:03,520 --> 00:35:06,960 right they pushed it up like that but 1021 00:35:06,079 --> 00:35:09,760 then it came 1022 00:35:06,960 --> 00:35:10,560 all the way back down here first to a 1023 00:35:09,760 --> 00:35:13,680 low of seven 1024 00:35:10,560 --> 00:35:14,880 dollars right like that 1025 00:35:13,680 --> 00:35:16,320 actually i shouldn't i shouldn't be 1026 00:35:14,880 --> 00:35:17,920 talking about it from that perspective 1027 00:35:16,320 --> 00:35:19,200 my apologies okay 1028 00:35:17,920 --> 00:35:21,040 i should be talking about it from this 1029 00:35:19,200 --> 00:35:21,839 one right here let's backtrack just a 1030 00:35:21,040 --> 00:35:24,240 second 1031 00:35:21,839 --> 00:35:26,079 and now the it opened here and then the 1032 00:35:24,240 --> 00:35:27,920 bowls pushed it all the way up 1033 00:35:26,079 --> 00:35:30,000 pushed it all the way up pushed it all 1034 00:35:27,920 --> 00:35:31,839 the way up right 1035 00:35:30,000 --> 00:35:34,160 but they couldn't hold their ground 1036 00:35:31,839 --> 00:35:37,359 right so it ended up getting pushed 1037 00:35:34,160 --> 00:35:39,680 all the way back down to over here right 1038 00:35:37,359 --> 00:35:40,480 which created a massive bull wick so the 1039 00:35:39,680 --> 00:35:42,720 bears 1040 00:35:40,480 --> 00:35:44,079 are actually trying to push it down but 1041 00:35:42,720 --> 00:35:46,720 the bowls are simply 1042 00:35:44,079 --> 00:35:47,520 too strong in this candle right and then 1043 00:35:46,720 --> 00:35:50,640 they pushed it 1044 00:35:47,520 --> 00:35:52,960 all the way back up to right here so 1045 00:35:50,640 --> 00:35:53,920 you can see the difference between how 1046 00:35:52,960 --> 00:35:56,560 strong 1047 00:35:53,920 --> 00:35:58,800 this one is and now the other way is 1048 00:35:56,560 --> 00:36:00,160 that it opened here right it opened 1049 00:35:58,800 --> 00:36:02,800 right here 1050 00:36:00,160 --> 00:36:04,320 and then the bears tried to push it down 1051 00:36:02,800 --> 00:36:06,400 first okay 1052 00:36:04,320 --> 00:36:08,079 but the bulls are like nah we're not 1053 00:36:06,400 --> 00:36:10,160 having any of that right now 1054 00:36:08,079 --> 00:36:12,160 we're not having any of that so then the 1055 00:36:10,160 --> 00:36:14,079 bulls pushed it all the way back up 1056 00:36:12,160 --> 00:36:16,480 all the way back up all the way back up 1057 00:36:14,079 --> 00:36:18,240 to even where it's twelve dollars right 1058 00:36:16,480 --> 00:36:19,760 and then some of the bears they took 1059 00:36:18,240 --> 00:36:21,599 profit or whatever then they pushed it 1060 00:36:19,760 --> 00:36:24,480 down and it just steadied right there 1061 00:36:21,599 --> 00:36:25,440 so that's an even more powerful 1062 00:36:24,480 --> 00:36:27,280 indication 1063 00:36:25,440 --> 00:36:29,359 so we have to think of the differences 1064 00:36:27,280 --> 00:36:31,920 between these two candles right 1065 00:36:29,359 --> 00:36:32,800 the green one is obviously a lot more 1066 00:36:31,920 --> 00:36:35,359 bullish 1067 00:36:32,800 --> 00:36:36,560 and the red one is a lot more bearish 1068 00:36:35,359 --> 00:36:40,160 and what we want 1069 00:36:36,560 --> 00:36:43,280 on a downtrend is a really big 1070 00:36:40,160 --> 00:36:46,560 green candle right now a red one 1071 00:36:43,280 --> 00:36:47,040 can still be a bullish candle but of 1072 00:36:46,560 --> 00:36:49,839 course 1073 00:36:47,040 --> 00:36:51,920 a green one will give you a much better 1074 00:36:49,839 --> 00:36:54,480 of a bullish 1075 00:36:51,920 --> 00:36:55,839 better chances of it being seen as a 1076 00:36:54,480 --> 00:36:58,720 harder supporter 1077 00:36:55,839 --> 00:37:00,079 so i hope that this has cleared up a lot 1078 00:36:58,720 --> 00:37:03,440 of the definitions 1079 00:37:00,079 --> 00:37:06,560 between open high open close 1080 00:37:03,440 --> 00:37:08,720 high and low so now let's move into even 1081 00:37:06,560 --> 00:37:10,000 more formations and give you guys 1082 00:37:08,720 --> 00:37:13,040 crystal clear 1083 00:37:10,000 --> 00:37:16,720 examples of what we see on 1084 00:37:13,040 --> 00:37:18,720 a typical day all right all right guys 1085 00:37:16,720 --> 00:37:19,760 let's get into some candlestick 1086 00:37:18,720 --> 00:37:22,000 formations 1087 00:37:19,760 --> 00:37:24,079 and let's talk about a lot of these 1088 00:37:22,000 --> 00:37:24,720 different types of candles right here 1089 00:37:24,079 --> 00:37:27,520 okay 1090 00:37:24,720 --> 00:37:28,560 let's first of all talk about the hammer 1091 00:37:27,520 --> 00:37:30,720 candle okay 1092 00:37:28,560 --> 00:37:32,320 we're gonna go over every single one of 1093 00:37:30,720 --> 00:37:34,000 these candle formations and they're 1094 00:37:32,320 --> 00:37:36,560 gonna be in high detail 1095 00:37:34,000 --> 00:37:37,760 so let's talk about the hammer candle 1096 00:37:36,560 --> 00:37:40,880 right here okay 1097 00:37:37,760 --> 00:37:43,680 so a hammer candle is green like this 1098 00:37:40,880 --> 00:37:45,839 preferably better green than red as 1099 00:37:43,680 --> 00:37:48,800 we've talked about earlier before 1100 00:37:45,839 --> 00:37:49,280 so the hammer has a fairly decent sized 1101 00:37:48,800 --> 00:37:52,000 wick 1102 00:37:49,280 --> 00:37:52,800 just like that right so this is called a 1103 00:37:52,000 --> 00:37:55,440 hammer 1104 00:37:52,800 --> 00:37:57,599 candle and this chart right here guys is 1105 00:37:55,440 --> 00:37:59,440 available to download just look below 1106 00:37:57,599 --> 00:38:01,119 it's going to be a part of the resources 1107 00:37:59,440 --> 00:38:03,040 where you can access and make sure that 1108 00:38:01,119 --> 00:38:04,320 you guys are saving this particular 1109 00:38:03,040 --> 00:38:07,200 chart right here 1110 00:38:04,320 --> 00:38:08,640 so the hammer candle implies this okay 1111 00:38:07,200 --> 00:38:11,760 that the bears 1112 00:38:08,640 --> 00:38:14,960 attempted to push well below okay 1113 00:38:11,760 --> 00:38:17,119 well below but the bulls actually 1114 00:38:14,960 --> 00:38:18,320 defended it very successfully pushing it 1115 00:38:17,119 --> 00:38:20,400 all the way back up 1116 00:38:18,320 --> 00:38:22,560 so it opened right here and it closed 1117 00:38:20,400 --> 00:38:25,040 right there so at the beginning 1118 00:38:22,560 --> 00:38:25,599 what happened was the bears tried to 1119 00:38:25,040 --> 00:38:28,160 defend 1120 00:38:25,599 --> 00:38:30,079 or they tried to push it down but the 1121 00:38:28,160 --> 00:38:33,200 bulls defended it pushing it 1122 00:38:30,079 --> 00:38:34,160 all the way back up hence the hammer now 1123 00:38:33,200 --> 00:38:36,400 the next one 1124 00:38:34,160 --> 00:38:37,520 is called the inverted hammer candle 1125 00:38:36,400 --> 00:38:40,160 okay 1126 00:38:37,520 --> 00:38:40,800 the inverted hammer is the opposite like 1127 00:38:40,160 --> 00:38:42,960 that 1128 00:38:40,800 --> 00:38:44,400 where it's an upside down candle but 1129 00:38:42,960 --> 00:38:46,720 this is still a very 1130 00:38:44,400 --> 00:38:48,320 bullish candle and the reason why it's 1131 00:38:46,720 --> 00:38:50,480 bullish is because well 1132 00:38:48,320 --> 00:38:52,800 the bulls are actually attempting to 1133 00:38:50,480 --> 00:38:55,040 push it up regardless right 1134 00:38:52,800 --> 00:38:56,960 and because they didn't get it that high 1135 00:38:55,040 --> 00:38:57,760 but nevertheless it's still bullish 1136 00:38:56,960 --> 00:39:00,480 because 1137 00:38:57,760 --> 00:39:01,359 they are attempting to push it up now 1138 00:39:00,480 --> 00:39:04,000 this right here 1139 00:39:01,359 --> 00:39:05,040 is called a dragonfly doji this one 1140 00:39:04,000 --> 00:39:08,160 right here 1141 00:39:05,040 --> 00:39:09,440 this dragonfly doji has a very small 1142 00:39:08,160 --> 00:39:12,160 body okay 1143 00:39:09,440 --> 00:39:13,839 a super small body just like this now 1144 00:39:12,160 --> 00:39:14,880 this one here it could be even smaller 1145 00:39:13,839 --> 00:39:17,040 like that right 1146 00:39:14,880 --> 00:39:18,720 this one is pretty much the exact same 1147 00:39:17,040 --> 00:39:21,119 terminology where the bears 1148 00:39:18,720 --> 00:39:22,880 tried to push it down but the bolds 1149 00:39:21,119 --> 00:39:25,280 defended and they pushed it back 1150 00:39:22,880 --> 00:39:27,200 up so if you ever see these at the 1151 00:39:25,280 --> 00:39:29,520 bottom of the downtrend 1152 00:39:27,200 --> 00:39:31,440 these are very bullish candles and it 1153 00:39:29,520 --> 00:39:32,400 would actually imply that if there's a 1154 00:39:31,440 --> 00:39:34,160 good chance 1155 00:39:32,400 --> 00:39:35,599 that something is going to happen in 1156 00:39:34,160 --> 00:39:37,440 terms of the bulls 1157 00:39:35,599 --> 00:39:38,640 defending successfully and we should get 1158 00:39:37,440 --> 00:39:40,079 higher high 1159 00:39:38,640 --> 00:39:42,480 now the next one we're going to talk 1160 00:39:40,079 --> 00:39:47,280 about is the bullish spinning 1161 00:39:42,480 --> 00:39:49,680 top okay the bullish spinning top has 1162 00:39:47,280 --> 00:39:51,200 basically like that where the body of 1163 00:39:49,680 --> 00:39:53,599 the candle is pretty much 1164 00:39:51,200 --> 00:39:55,440 right in the middle just like that okay 1165 00:39:53,599 --> 00:39:58,640 it's got wicks on the upside 1166 00:39:55,440 --> 00:40:01,760 and it's got wicks on the downside so 1167 00:39:58,640 --> 00:40:02,320 these are incredibly powerful candles as 1168 00:40:01,760 --> 00:40:04,000 well 1169 00:40:02,320 --> 00:40:05,599 okay and then we also have i'm just 1170 00:40:04,000 --> 00:40:06,319 going to go over the very common ones 1171 00:40:05,599 --> 00:40:08,800 that i think 1172 00:40:06,319 --> 00:40:10,079 are very important to understand right 1173 00:40:08,800 --> 00:40:12,880 so let's say you had 1174 00:40:10,079 --> 00:40:13,680 a uh a red candle right where you're 1175 00:40:12,880 --> 00:40:15,280 coming down 1176 00:40:13,680 --> 00:40:18,560 okay let's see you got a red candle 1177 00:40:15,280 --> 00:40:18,560 coming down just like this 1178 00:40:21,280 --> 00:40:24,880 so you got like a series of red candles 1179 00:40:23,280 --> 00:40:26,480 like that right 1180 00:40:24,880 --> 00:40:28,319 let's just say you got like two candles 1181 00:40:26,480 --> 00:40:30,560 right and this one's a small one 1182 00:40:28,319 --> 00:40:31,839 and let's say the next one here is a 1183 00:40:30,560 --> 00:40:35,119 really large 1184 00:40:31,839 --> 00:40:36,400 candle okay a large green candle that's 1185 00:40:35,119 --> 00:40:39,359 much bigger 1186 00:40:36,400 --> 00:40:40,000 than the previous red candle this one is 1187 00:40:39,359 --> 00:40:42,960 called the 1188 00:40:40,000 --> 00:40:43,359 bullish engulfing candle and the reason 1189 00:40:42,960 --> 00:40:45,359 why 1190 00:40:43,359 --> 00:40:46,960 it's called an engulfing candle is 1191 00:40:45,359 --> 00:40:48,960 because it's eating up 1192 00:40:46,960 --> 00:40:50,400 the previous candle right think of it as 1193 00:40:48,960 --> 00:40:52,720 a much bigger candle 1194 00:40:50,400 --> 00:40:54,000 that's actually just devouring it so 1195 00:40:52,720 --> 00:40:55,920 that's how i see it 1196 00:40:54,000 --> 00:40:57,200 and then you got another combination of 1197 00:40:55,920 --> 00:41:00,560 a candle called 1198 00:40:57,200 --> 00:41:02,880 the tweezer bottoms okay tweezer bottoms 1199 00:41:00,560 --> 00:41:04,240 is exactly as the name implies it looks 1200 00:41:02,880 --> 00:41:06,240 like tweezers right 1201 00:41:04,240 --> 00:41:08,160 it's got two little wicks like that that 1202 00:41:06,240 --> 00:41:10,480 actually look like tweezers 1203 00:41:08,160 --> 00:41:12,160 and if you guys see these two little 1204 00:41:10,480 --> 00:41:14,640 wicks right here 1205 00:41:12,160 --> 00:41:16,400 right that will actually imply that the 1206 00:41:14,640 --> 00:41:18,800 tweezer bottom it's showing some sort of 1207 00:41:16,400 --> 00:41:21,280 rejection to the downside 1208 00:41:18,800 --> 00:41:23,520 and that's what i personally love to see 1209 00:41:21,280 --> 00:41:25,599 quite often okay 1210 00:41:23,520 --> 00:41:26,800 so if you guys ever see these kinds of 1211 00:41:25,599 --> 00:41:29,359 candles they're 1212 00:41:26,800 --> 00:41:30,880 incredibly important for you guys to 1213 00:41:29,359 --> 00:41:33,359 recognize the signs 1214 00:41:30,880 --> 00:41:34,000 of a possible reversal coming up very 1215 00:41:33,359 --> 00:41:36,079 soon 1216 00:41:34,000 --> 00:41:37,040 so let's talk about some bearish candles 1217 00:41:36,079 --> 00:41:38,480 now right 1218 00:41:37,040 --> 00:41:40,079 let's say we got like you know some 1219 00:41:38,480 --> 00:41:43,440 bearish candles like that where 1220 00:41:40,079 --> 00:41:43,920 it's just sorry we should make that 1221 00:41:43,440 --> 00:41:46,160 green 1222 00:41:43,920 --> 00:41:46,960 not not red okay let's make this uh 1223 00:41:46,160 --> 00:41:48,960 green 1224 00:41:46,960 --> 00:41:50,560 okay where we're just getting a series 1225 00:41:48,960 --> 00:41:52,800 of green candles like that 1226 00:41:50,560 --> 00:41:54,640 it's still on an uptrend well let's talk 1227 00:41:52,800 --> 00:41:56,079 about some of these candles like a 1228 00:41:54,640 --> 00:41:58,000 hanging man all right 1229 00:41:56,079 --> 00:41:59,520 this is a hanging man right there make 1230 00:41:58,000 --> 00:42:01,040 sure you guys are downloading this to 1231 00:41:59,520 --> 00:42:03,359 add to your learning 1232 00:42:01,040 --> 00:42:04,400 so let's say that you actually get a 1233 00:42:03,359 --> 00:42:07,680 candle like this 1234 00:42:04,400 --> 00:42:10,720 okay where this one is now red 1235 00:42:07,680 --> 00:42:13,280 or green one or the other regardless 1236 00:42:10,720 --> 00:42:14,640 it's still seen as very bearish now the 1237 00:42:13,280 --> 00:42:17,440 psychology behind it 1238 00:42:14,640 --> 00:42:18,160 is this right here okay the psychology 1239 00:42:17,440 --> 00:42:21,440 behind it 1240 00:42:18,160 --> 00:42:23,760 is that the uptrend is almost over 1241 00:42:21,440 --> 00:42:24,560 and the bulls are actually losing their 1242 00:42:23,760 --> 00:42:26,000 steam 1243 00:42:24,560 --> 00:42:28,400 and the reason they're losing their 1244 00:42:26,000 --> 00:42:29,599 steam is because the bears are starting 1245 00:42:28,400 --> 00:42:31,839 to take profit 1246 00:42:29,599 --> 00:42:33,440 they're trying to actually drive down 1247 00:42:31,839 --> 00:42:35,119 the price of the market 1248 00:42:33,440 --> 00:42:37,680 right that's why you're seeing this 1249 00:42:35,119 --> 00:42:40,000 really larger wick right here as well 1250 00:42:37,680 --> 00:42:41,520 and some other bearish candles is the 1251 00:42:40,000 --> 00:42:43,520 bear spinning top 1252 00:42:41,520 --> 00:42:45,440 it's kind of the opposite of the bullet 1253 00:42:43,520 --> 00:42:48,240 spinning top where you get 1254 00:42:45,440 --> 00:42:50,079 a body that's right in the center and 1255 00:42:48,240 --> 00:42:50,800 you have a wick that's equal length on 1256 00:42:50,079 --> 00:42:52,880 the top 1257 00:42:50,800 --> 00:42:54,480 and on the bottom right so that's called 1258 00:42:52,880 --> 00:42:56,560 a bearish spinning top it might look 1259 00:42:54,480 --> 00:42:58,400 something like that a little bit bigger 1260 00:42:56,560 --> 00:43:00,800 if you got something that's very small 1261 00:42:58,400 --> 00:43:03,599 right like this right here for example 1262 00:43:00,800 --> 00:43:04,640 this is called a doji right small little 1263 00:43:03,599 --> 00:43:06,880 wicks 1264 00:43:04,640 --> 00:43:08,079 small little body so this would be 1265 00:43:06,880 --> 00:43:10,560 called a 1266 00:43:08,079 --> 00:43:12,160 bearish or sorry a bearish doji candle 1267 00:43:10,560 --> 00:43:13,920 or just a doji in general 1268 00:43:12,160 --> 00:43:15,839 now this one right here is the most 1269 00:43:13,920 --> 00:43:17,520 powerful reversal candle that i'm just 1270 00:43:15,839 --> 00:43:18,800 about to show you guys so please 1271 00:43:17,520 --> 00:43:20,319 remember this one 1272 00:43:18,800 --> 00:43:22,000 this one right here is called the 1273 00:43:20,319 --> 00:43:24,000 shooting star okay 1274 00:43:22,000 --> 00:43:25,440 the shooting star looks something like 1275 00:43:24,000 --> 00:43:28,319 that right 1276 00:43:25,440 --> 00:43:28,800 a shooting star is a candle with a 1277 00:43:28,319 --> 00:43:31,760 really 1278 00:43:28,800 --> 00:43:33,680 long wick to the upside okay with a 1279 00:43:31,760 --> 00:43:36,720 really long wick to the upside 1280 00:43:33,680 --> 00:43:37,359 which is very implicative that the bulls 1281 00:43:36,720 --> 00:43:40,560 have tried 1282 00:43:37,359 --> 00:43:41,359 very hard to push it all the way up but 1283 00:43:40,560 --> 00:43:43,599 they actually 1284 00:43:41,359 --> 00:43:45,839 couldn't push it all the way up and 1285 00:43:43,599 --> 00:43:48,560 instead the bears ended up pushing it 1286 00:43:45,839 --> 00:43:50,240 all the way back down now another 1287 00:43:48,560 --> 00:43:52,880 combination of a candle 1288 00:43:50,240 --> 00:43:55,200 is for example a tweezer top so the 1289 00:43:52,880 --> 00:43:55,920 tweezer top is exactly like the tweezer 1290 00:43:55,200 --> 00:43:57,680 bottom 1291 00:43:55,920 --> 00:43:59,920 except now we're seeing it on the top 1292 00:43:57,680 --> 00:44:01,200 and reversed where we're seeing kind of 1293 00:43:59,920 --> 00:44:03,040 formations like that 1294 00:44:01,200 --> 00:44:05,200 and the best thing to do is just to 1295 00:44:03,040 --> 00:44:07,280 actually get right into the candles and 1296 00:44:05,200 --> 00:44:08,079 take a look at tons of examples that 1297 00:44:07,280 --> 00:44:10,400 we're going to find 1298 00:44:08,079 --> 00:44:11,200 in these charts together so let's 1299 00:44:10,400 --> 00:44:14,160 remember 1300 00:44:11,200 --> 00:44:16,319 the significance of these candles okay 1301 00:44:14,160 --> 00:44:18,880 the significance of these candles 1302 00:44:16,319 --> 00:44:19,760 is that when we find them in specific 1303 00:44:18,880 --> 00:44:22,800 places 1304 00:44:19,760 --> 00:44:23,680 in specific positions on a chart it 1305 00:44:22,800 --> 00:44:26,240 might actually 1306 00:44:23,680 --> 00:44:26,960 indicate the momentum of what is 1307 00:44:26,240 --> 00:44:28,960 happening 1308 00:44:26,960 --> 00:44:30,079 so if you see a lot of wicks going to 1309 00:44:28,960 --> 00:44:32,240 the downside 1310 00:44:30,079 --> 00:44:33,119 when you're already on the way down it 1311 00:44:32,240 --> 00:44:35,040 might indicate 1312 00:44:33,119 --> 00:44:37,119 supports because they're trying to push 1313 00:44:35,040 --> 00:44:38,480 it down but the bulls are actually 1314 00:44:37,119 --> 00:44:40,240 defending and push it up 1315 00:44:38,480 --> 00:44:42,240 let's say you're going on an uptrend 1316 00:44:40,240 --> 00:44:44,480 right if you see a lot of wicks 1317 00:44:42,240 --> 00:44:45,599 right on an uptrend a lot of wicks to 1318 00:44:44,480 --> 00:44:48,960 the upside 1319 00:44:45,599 --> 00:44:51,280 it might also indicate that hey it might 1320 00:44:48,960 --> 00:44:53,040 not actually be the best time to go long 1321 00:44:51,280 --> 00:44:56,160 because we're getting rejections 1322 00:44:53,040 --> 00:44:56,880 so just to give you guys a basic idea of 1323 00:44:56,160 --> 00:44:59,119 what 1324 00:44:56,880 --> 00:45:01,119 different time frames is is you have to 1325 00:44:59,119 --> 00:45:03,119 remember what time frames are okay guys 1326 00:45:01,119 --> 00:45:05,520 we're going to go over time frames 1327 00:45:03,119 --> 00:45:07,359 in the next chart in the next um lesson 1328 00:45:05,520 --> 00:45:10,240 actually in lesson number nine 1329 00:45:07,359 --> 00:45:10,880 how to read the how to interpret time 1330 00:45:10,240 --> 00:45:12,800 frames 1331 00:45:10,880 --> 00:45:14,720 by looking at the little picture and 1332 00:45:12,800 --> 00:45:16,160 also the big picture as well 1333 00:45:14,720 --> 00:45:18,079 but just to give you guys a quick 1334 00:45:16,160 --> 00:45:21,200 introduction right 1335 00:45:18,079 --> 00:45:22,000 if you take a look at the daily time 1336 00:45:21,200 --> 00:45:24,400 frame 1337 00:45:22,000 --> 00:45:25,040 and you also see four hour time frames 1338 00:45:24,400 --> 00:45:28,240 as well 1339 00:45:25,040 --> 00:45:31,520 well guess how many four hour candles 1340 00:45:28,240 --> 00:45:33,599 will actually make up a daily candle 1341 00:45:31,520 --> 00:45:36,000 it would be six right because it takes 1342 00:45:33,599 --> 00:45:39,280 six four hour candles 1343 00:45:36,000 --> 00:45:41,920 to make up a single daily candle 1344 00:45:39,280 --> 00:45:43,599 right that makes sense so the way that 1345 00:45:41,920 --> 00:45:46,000 we look at time frames is 1346 00:45:43,599 --> 00:45:48,160 it's a way for us to get a gauge of 1347 00:45:46,000 --> 00:45:50,640 what's happening in the big picture 1348 00:45:48,160 --> 00:45:51,599 and also in the little picture as well 1349 00:45:50,640 --> 00:45:53,440 and overall 1350 00:45:51,599 --> 00:45:55,680 we try to do this because we want to get 1351 00:45:53,440 --> 00:45:56,319 an overall picture of everything that's 1352 00:45:55,680 --> 00:45:59,200 happening 1353 00:45:56,319 --> 00:45:59,760 on a micro level and on a macro level as 1354 00:45:59,200 --> 00:46:02,800 well 1355 00:45:59,760 --> 00:46:03,599 so let's just go over some candles that 1356 00:46:02,800 --> 00:46:06,160 we see 1357 00:46:03,599 --> 00:46:06,880 that might indicate just as an example 1358 00:46:06,160 --> 00:46:08,960 okay 1359 00:46:06,880 --> 00:46:10,720 so if you guys see right here right this 1360 00:46:08,960 --> 00:46:12,560 right this is a downtrend 1361 00:46:10,720 --> 00:46:15,040 this is a downtrend this is the 1362 00:46:12,560 --> 00:46:15,760 downtrend so what people were waiting 1363 00:46:15,040 --> 00:46:18,880 for 1364 00:46:15,760 --> 00:46:19,359 was basically a candle that was going to 1365 00:46:18,880 --> 00:46:22,319 be 1366 00:46:19,359 --> 00:46:24,160 bullish and this end up ended up forming 1367 00:46:22,319 --> 00:46:27,200 on the daily candle right here 1368 00:46:24,160 --> 00:46:29,440 it ended up forming a bullish spinning 1369 00:46:27,200 --> 00:46:30,480 top think of a bullish spinning top like 1370 00:46:29,440 --> 00:46:34,000 a rolling pin 1371 00:46:30,480 --> 00:46:35,440 right a rolling pin so then that signal 1372 00:46:34,000 --> 00:46:37,520 to the market right there 1373 00:46:35,440 --> 00:46:38,720 that hey this might actually be the 1374 00:46:37,520 --> 00:46:41,520 bottom right there 1375 00:46:38,720 --> 00:46:42,000 so let's look at it on an uptrend right 1376 00:46:41,520 --> 00:46:44,960 these two 1377 00:46:42,000 --> 00:46:46,400 candles right here made a tweezer top 1378 00:46:44,960 --> 00:46:48,160 right take a look at it's got those two 1379 00:46:46,400 --> 00:46:48,640 little wicks that are poking to the top 1380 00:46:48,160 --> 00:46:50,800 there 1381 00:46:48,640 --> 00:46:52,079 and then you get this candle here called 1382 00:46:50,800 --> 00:46:55,839 the bearish 1383 00:46:52,079 --> 00:46:57,280 engulfing candle right so on an uptrend 1384 00:46:55,839 --> 00:46:59,520 when you get the bearish engulfing 1385 00:46:57,280 --> 00:47:01,119 candle it's very indicative and very 1386 00:46:59,520 --> 00:47:02,720 powerful that we're going to pretty much 1387 00:47:01,119 --> 00:47:04,640 be done the uptrend 1388 00:47:02,720 --> 00:47:06,000 so let's take a look at some of these 1389 00:47:04,640 --> 00:47:08,800 this one here we're getting 1390 00:47:06,000 --> 00:47:10,720 starting to get a lot of wicks right 1391 00:47:08,800 --> 00:47:13,119 tons of wicks to the upside 1392 00:47:10,720 --> 00:47:14,560 tons of wicks to the upside and because 1393 00:47:13,119 --> 00:47:16,000 we're seeing a lot oh sorry about that 1394 00:47:14,560 --> 00:47:17,119 because we're seeing a lot of wicks to 1395 00:47:16,000 --> 00:47:19,599 the upside 1396 00:47:17,119 --> 00:47:21,760 what ends up happening is it usually 1397 00:47:19,599 --> 00:47:24,000 signals to the market that hey 1398 00:47:21,760 --> 00:47:25,280 are we actually done this particular 1399 00:47:24,000 --> 00:47:27,040 uptrend right now 1400 00:47:25,280 --> 00:47:28,640 so it might actually be time for you 1401 00:47:27,040 --> 00:47:31,599 guys to take profit 1402 00:47:28,640 --> 00:47:32,160 so here are more so indecision candles 1403 00:47:31,599 --> 00:47:34,240 right 1404 00:47:32,160 --> 00:47:36,319 sometimes when we see large ranges like 1405 00:47:34,240 --> 00:47:38,480 this range in that one day went from 1406 00:47:36,319 --> 00:47:41,119 9000 all the way to 11 1407 00:47:38,480 --> 00:47:42,960 400. these are more so indecision 1408 00:47:41,119 --> 00:47:44,800 candles okay 1409 00:47:42,960 --> 00:47:46,800 now let's see we're looking at this 1410 00:47:44,800 --> 00:47:47,280 candle what we're seeing is a hanging 1411 00:47:46,800 --> 00:47:50,640 man 1412 00:47:47,280 --> 00:47:52,800 candle so the hanging man candle signals 1413 00:47:50,640 --> 00:47:53,920 too the next day that hey this is it 1414 00:47:52,800 --> 00:47:55,920 guys like this is 1415 00:47:53,920 --> 00:47:57,839 this is definitely it right here we're 1416 00:47:55,920 --> 00:47:59,359 not going to get any higher highs 1417 00:47:57,839 --> 00:48:01,520 we're most likely just going to end up 1418 00:47:59,359 --> 00:48:03,440 trending very much so downwards 1419 00:48:01,520 --> 00:48:04,800 and this candle right here guys this is 1420 00:48:03,440 --> 00:48:07,680 the shooting star 1421 00:48:04,800 --> 00:48:08,319 but it kind of looks like a a bearish 1422 00:48:07,680 --> 00:48:10,720 engulf 1423 00:48:08,319 --> 00:48:12,240 sorry a bearish spinning top and it kind 1424 00:48:10,720 --> 00:48:15,200 of also looks like 1425 00:48:12,240 --> 00:48:15,839 uh a doji candle right a bearish doji 1426 00:48:15,200 --> 00:48:18,400 candle 1427 00:48:15,839 --> 00:48:20,480 so when we saw this right here on 1428 00:48:18,400 --> 00:48:22,319 december the 17th it was actually 1429 00:48:20,480 --> 00:48:24,000 signaling to the market that there's no 1430 00:48:22,319 --> 00:48:24,800 way we're going to get any higher than 1431 00:48:24,000 --> 00:48:26,480 that right 1432 00:48:24,800 --> 00:48:29,040 that's why we ended up dropping almost 1433 00:48:26,480 --> 00:48:30,800 20 000 there in a few days which was 1434 00:48:29,040 --> 00:48:32,559 actually really scary 1435 00:48:30,800 --> 00:48:34,800 so then but and it was also really 1436 00:48:32,559 --> 00:48:37,520 indicative because the next day as well 1437 00:48:34,800 --> 00:48:40,000 you're getting a doji near the very top 1438 00:48:37,520 --> 00:48:42,240 so it signaled to the market hey 1439 00:48:40,000 --> 00:48:43,520 might actually end up coming down so on 1440 00:48:42,240 --> 00:48:45,440 the downside 1441 00:48:43,520 --> 00:48:47,599 we actually see a lot of wicks right 1442 00:48:45,440 --> 00:48:50,640 here right so because we're seeing 1443 00:48:47,599 --> 00:48:53,119 tons of wicks on the downside right here 1444 00:48:50,640 --> 00:48:54,400 it actually shows that it's rejecting to 1445 00:48:53,119 --> 00:48:56,000 the downside 1446 00:48:54,400 --> 00:48:57,920 and because it's rejecting to the 1447 00:48:56,000 --> 00:49:00,079 downside it eventually 1448 00:48:57,920 --> 00:49:02,240 went back up for a little bit right and 1449 00:49:00,079 --> 00:49:02,559 then we got this bearish spinning top 1450 00:49:02,240 --> 00:49:05,040 here 1451 00:49:02,559 --> 00:49:06,800 at the top and this bearish spinning top 1452 00:49:05,040 --> 00:49:08,640 signal to the market that hey 1453 00:49:06,800 --> 00:49:11,680 it's actually time for us to take some 1454 00:49:08,640 --> 00:49:14,160 profit these long wicks to the upside 1455 00:49:11,680 --> 00:49:15,280 is basically a battle between the bears 1456 00:49:14,160 --> 00:49:18,319 and the bulls 1457 00:49:15,280 --> 00:49:18,960 and clearly the bulls ended up losing so 1458 00:49:18,319 --> 00:49:21,520 the bulls 1459 00:49:18,960 --> 00:49:23,040 attempted to push it up very high but 1460 00:49:21,520 --> 00:49:24,800 they just couldn't hold it right 1461 00:49:23,040 --> 00:49:26,640 and because they couldn't hold it it 1462 00:49:24,800 --> 00:49:30,079 just ends up coming downwards 1463 00:49:26,640 --> 00:49:33,359 so what we try to do guys is we try to 1464 00:49:30,079 --> 00:49:37,119 find confluence right what confluence 1465 00:49:33,359 --> 00:49:40,240 lets you do is it lets you find reasons 1466 00:49:37,119 --> 00:49:42,319 from a price action analysis and you 1467 00:49:40,240 --> 00:49:45,680 combine it with other indicators 1468 00:49:42,319 --> 00:49:48,160 such as rsi such as macd such as 1469 00:49:45,680 --> 00:49:49,680 tons of other indicators that might give 1470 00:49:48,160 --> 00:49:51,839 us more of a reason 1471 00:49:49,680 --> 00:49:54,160 and a higher probability that it might 1472 00:49:51,839 --> 00:49:55,280 actually lean one way a lot more than 1473 00:49:54,160 --> 00:49:57,040 the other way 1474 00:49:55,280 --> 00:49:58,480 so that's what we that's why we're 1475 00:49:57,040 --> 00:50:01,680 trying to evaluate 1476 00:49:58,480 --> 00:50:04,000 these candlesticks right here right 1477 00:50:01,680 --> 00:50:04,960 so let's just keep going right let's 1478 00:50:04,000 --> 00:50:07,839 just keep going 1479 00:50:04,960 --> 00:50:10,000 for example february 6 right we got this 1480 00:50:07,839 --> 00:50:12,400 gigantic hammer candle 1481 00:50:10,000 --> 00:50:14,400 the hammer didn't really hold there 1482 00:50:12,400 --> 00:50:16,400 because it didn't have a lot of volume 1483 00:50:14,400 --> 00:50:18,000 so what you want to make sure that you 1484 00:50:16,400 --> 00:50:20,800 have a lot of as well 1485 00:50:18,000 --> 00:50:21,119 on a downtrend is a lot of volume guys 1486 00:50:20,800 --> 00:50:22,880 okay 1487 00:50:21,119 --> 00:50:25,200 it's really important to have a lot of 1488 00:50:22,880 --> 00:50:26,960 volume if you get a lot of volume 1489 00:50:25,200 --> 00:50:29,200 you're going to be able to confirm that 1490 00:50:26,960 --> 00:50:32,079 the market is generally 1491 00:50:29,200 --> 00:50:33,760 interested in sustaining it at that 1492 00:50:32,079 --> 00:50:36,480 price and supporting it 1493 00:50:33,760 --> 00:50:38,400 so after we got this candle for example 1494 00:50:36,480 --> 00:50:41,040 a hammer candle 1495 00:50:38,400 --> 00:50:41,839 when this daily candle formed it would 1496 00:50:41,040 --> 00:50:44,559 have been very 1497 00:50:41,839 --> 00:50:46,240 wise guys to enter a position and you 1498 00:50:44,559 --> 00:50:47,920 would have entered perhaps with this 1499 00:50:46,240 --> 00:50:48,319 candle closed right there it opened 1500 00:50:47,920 --> 00:50:50,559 there 1501 00:50:48,319 --> 00:50:52,240 it closed there the next day you would 1502 00:50:50,559 --> 00:50:54,559 have entered your position 1503 00:50:52,240 --> 00:50:56,480 you would have set your stop loss 1504 00:50:54,559 --> 00:50:58,640 slightly below okay 1505 00:50:56,480 --> 00:51:00,319 you set your stop loss slightly below 1506 00:50:58,640 --> 00:51:02,000 and then you target at least the 1507 00:51:00,319 --> 00:51:04,319 previous high roughly right 1508 00:51:02,000 --> 00:51:06,000 the interim high right up there so that 1509 00:51:04,319 --> 00:51:06,800 you would have had a beautiful risk to 1510 00:51:06,000 --> 00:51:09,359 reward 1511 00:51:06,800 --> 00:51:10,559 of about two point about 2.0 we can say 1512 00:51:09,359 --> 00:51:14,559 okay 2.0 1513 00:51:10,559 --> 00:51:16,720 for a possible 48 gain for a possible 23 1514 00:51:14,559 --> 00:51:17,920 loss that's definitely a very good risk 1515 00:51:16,720 --> 00:51:20,079 to reward 1516 00:51:17,920 --> 00:51:22,400 now keeping it to candlestick analysis 1517 00:51:20,079 --> 00:51:25,040 only if you guys actually take a look 1518 00:51:22,400 --> 00:51:26,559 at this massive candle that formed do 1519 00:51:25,040 --> 00:51:28,319 you guys remember the name of this 1520 00:51:26,559 --> 00:51:31,040 candle right here 1521 00:51:28,319 --> 00:51:33,119 look up look up tie to the skies and 1522 00:51:31,040 --> 00:51:36,400 what do you guys see 1523 00:51:33,119 --> 00:51:38,559 whenever you want to make a wish 1524 00:51:36,400 --> 00:51:39,920 yeah you see a shooting star right 1525 00:51:38,559 --> 00:51:40,800 whenever you see a shooting star you 1526 00:51:39,920 --> 00:51:43,920 make a wish 1527 00:51:40,800 --> 00:51:47,440 and here for shooting stars it implies 1528 00:51:43,920 --> 00:51:50,880 that the bulls tried very very very 1529 00:51:47,440 --> 00:51:53,040 very hard to push it super high upwards 1530 00:51:50,880 --> 00:51:54,960 but instead they got rejected and it 1531 00:51:53,040 --> 00:51:57,359 simply just got shot down 1532 00:51:54,960 --> 00:51:58,079 and because it got shot down the next 1533 00:51:57,359 --> 00:52:00,240 day 1534 00:51:58,079 --> 00:52:01,920 it implies that the market psychology 1535 00:52:00,240 --> 00:52:04,480 says hey the bulls tried 1536 00:52:01,920 --> 00:52:05,040 the bears have pretty much taken over so 1537 00:52:04,480 --> 00:52:06,480 now 1538 00:52:05,040 --> 00:52:08,960 we're going to make sure that it's going 1539 00:52:06,480 --> 00:52:10,160 to keep going downwards so it implies 1540 00:52:08,960 --> 00:52:12,800 that the momentum 1541 00:52:10,160 --> 00:52:14,480 is carried over from the previous day so 1542 00:52:12,800 --> 00:52:17,599 we keep looking at these 1543 00:52:14,480 --> 00:52:20,240 wicks to see what kind of pattern 1544 00:52:17,599 --> 00:52:20,960 we can get and we try to read the price 1545 00:52:20,240 --> 00:52:23,280 action 1546 00:52:20,960 --> 00:52:25,839 once we read these price action enough 1547 00:52:23,280 --> 00:52:28,240 they will tell a story guys okay 1548 00:52:25,839 --> 00:52:29,599 like here for example right we see a 1549 00:52:28,240 --> 00:52:31,760 story being told 1550 00:52:29,599 --> 00:52:33,520 where it's actually coming down we see a 1551 00:52:31,760 --> 00:52:35,760 little wick of a rejection so it's 1552 00:52:33,520 --> 00:52:37,760 almost close right with the volume 1553 00:52:35,760 --> 00:52:39,760 this one here we see a wick as well 1554 00:52:37,760 --> 00:52:40,960 right and this one here we finally get a 1555 00:52:39,760 --> 00:52:43,680 doji candle 1556 00:52:40,960 --> 00:52:44,480 and because we finally got a doji candle 1557 00:52:43,680 --> 00:52:47,200 it would have been a 1558 00:52:44,480 --> 00:52:49,359 very nice signal to go long actually 1559 00:52:47,200 --> 00:52:50,960 especially with these series of wicks 1560 00:52:49,359 --> 00:52:53,119 so if you went into a long position 1561 00:52:50,960 --> 00:52:54,960 there right you would have entered into 1562 00:52:53,119 --> 00:52:56,079 a long position with that candle formed 1563 00:52:54,960 --> 00:52:57,520 right around here 1564 00:52:56,079 --> 00:52:59,119 you would have set your stop loss 1565 00:52:57,520 --> 00:53:01,040 slightly below that candle 1566 00:52:59,119 --> 00:53:02,480 and you would have targeted roughly the 1567 00:53:01,040 --> 00:53:03,760 high of that candle 1568 00:53:02,480 --> 00:53:05,839 and you would have had yourself a 1569 00:53:03,760 --> 00:53:09,200 beautiful risk to reward ratio 1570 00:53:05,839 --> 00:53:10,720 of about 6.54 now take a look at this 1571 00:53:09,200 --> 00:53:13,200 series right here guys 1572 00:53:10,720 --> 00:53:14,000 this series right here you guys remember 1573 00:53:13,200 --> 00:53:18,000 what this looks 1574 00:53:14,000 --> 00:53:18,640 like it looks like a hanging man candle 1575 00:53:18,000 --> 00:53:20,800 right 1576 00:53:18,640 --> 00:53:21,680 it looks like a hanging man candle 1577 00:53:20,800 --> 00:53:24,640 because there 1578 00:53:21,680 --> 00:53:25,119 there's a bull trend bull trend bull up 1579 00:53:24,640 --> 00:53:28,000 up 1580 00:53:25,119 --> 00:53:29,680 up right but here we get a more sold 1581 00:53:28,000 --> 00:53:32,079 indecision candle 1582 00:53:29,680 --> 00:53:32,800 but i would see it as a hanging man it 1583 00:53:32,079 --> 00:53:35,119 would be more 1584 00:53:32,800 --> 00:53:35,839 bearish if it was actually red but 1585 00:53:35,119 --> 00:53:38,240 that's okay 1586 00:53:35,839 --> 00:53:39,839 a green can still be considered bearish 1587 00:53:38,240 --> 00:53:40,880 so make sure that you guys are not 1588 00:53:39,839 --> 00:53:42,800 thinking that oh 1589 00:53:40,880 --> 00:53:45,119 it's a green candle it's gonna be 1590 00:53:42,800 --> 00:53:46,480 bullish oh it's a red candle it's gonna 1591 00:53:45,119 --> 00:53:49,119 be a bearish candle 1592 00:53:46,480 --> 00:53:51,760 no guys it is not like that at all a 1593 00:53:49,119 --> 00:53:54,480 green candle can be very bearish 1594 00:53:51,760 --> 00:53:56,000 depending on the position that it's in 1595 00:53:54,480 --> 00:53:58,240 for example if you saw this 1596 00:53:56,000 --> 00:53:59,040 candle right here this green candle on a 1597 00:53:58,240 --> 00:54:00,319 downtrend 1598 00:53:59,040 --> 00:54:02,400 you would think that you would find 1599 00:54:00,319 --> 00:54:03,520 heavy support but if you find this 1600 00:54:02,400 --> 00:54:06,559 candle right here 1601 00:54:03,520 --> 00:54:08,720 on an uptrend that you can easily know 1602 00:54:06,559 --> 00:54:10,800 that because it's on an uptrend that the 1603 00:54:08,720 --> 00:54:11,839 bulls have given up almost right they're 1604 00:54:10,800 --> 00:54:14,400 starting to lose 1605 00:54:11,839 --> 00:54:15,359 their steam and that's what candlestick 1606 00:54:14,400 --> 00:54:18,240 and price action 1607 00:54:15,359 --> 00:54:19,839 analysis actually lets you do it gives 1608 00:54:18,240 --> 00:54:22,960 you a really good gauge 1609 00:54:19,839 --> 00:54:25,440 of just general sentiment in the market 1610 00:54:22,960 --> 00:54:27,440 at that specific time it doesn't always 1611 00:54:25,440 --> 00:54:29,760 mean that they're losing the battle 1612 00:54:27,440 --> 00:54:30,960 but it does mean that steam is actually 1613 00:54:29,760 --> 00:54:33,359 starting to get lost 1614 00:54:30,960 --> 00:54:34,079 right so this candle right here the 1615 00:54:33,359 --> 00:54:36,960 bulls 1616 00:54:34,079 --> 00:54:38,640 have lost almost because the bears have 1617 00:54:36,960 --> 00:54:39,200 tried to push it down they tried to push 1618 00:54:38,640 --> 00:54:41,520 it down 1619 00:54:39,200 --> 00:54:43,520 but they defend excuse me a hiccup there 1620 00:54:41,520 --> 00:54:44,160 they defended and the bulls pushed it 1621 00:54:43,520 --> 00:54:46,799 back up 1622 00:54:44,160 --> 00:54:47,520 but the next next candle right here what 1623 00:54:46,799 --> 00:54:49,280 we see 1624 00:54:47,520 --> 00:54:50,960 is we see like a shooting star type 1625 00:54:49,280 --> 00:54:53,599 candle right and because 1626 00:54:50,960 --> 00:54:56,000 we see these two candle formations where 1627 00:54:53,599 --> 00:54:59,040 the bulls were starting to lose steam 1628 00:54:56,000 --> 00:55:00,880 and then the bears actually are starting 1629 00:54:59,040 --> 00:55:01,760 to take over because the bulls tried to 1630 00:55:00,880 --> 00:55:04,880 push it up 1631 00:55:01,760 --> 00:55:06,400 we got this nasty red doji shooting star 1632 00:55:04,880 --> 00:55:08,799 type candle right 1633 00:55:06,400 --> 00:55:10,559 so it implies that the bulls tried the 1634 00:55:08,799 --> 00:55:11,200 bulls pretty much lost here after they 1635 00:55:10,559 --> 00:55:14,400 tried 1636 00:55:11,200 --> 00:55:15,440 so the next few days that's why we saw 1637 00:55:14,400 --> 00:55:18,559 this very large 1638 00:55:15,440 --> 00:55:19,119 downtrend okay so if we keep going right 1639 00:55:18,559 --> 00:55:21,040 here 1640 00:55:19,119 --> 00:55:22,640 right we go down right this one looked 1641 00:55:21,040 --> 00:55:24,079 like it was going to go up 1642 00:55:22,640 --> 00:55:26,160 right this one looked like it was going 1643 00:55:24,079 --> 00:55:26,799 to go up this one looks kind of bullish 1644 00:55:26,160 --> 00:55:29,359 right 1645 00:55:26,799 --> 00:55:31,520 but it really didn't really get anywhere 1646 00:55:29,359 --> 00:55:34,240 so we also have to understand that it 1647 00:55:31,520 --> 00:55:37,280 doesn't always guarantee guys okay 1648 00:55:34,240 --> 00:55:39,599 it doesn't always guarantee that we are 1649 00:55:37,280 --> 00:55:40,960 actually going to see an uptrend when 1650 00:55:39,599 --> 00:55:44,880 something like that happens 1651 00:55:40,960 --> 00:55:46,799 right it just shows that sometimes 1652 00:55:44,880 --> 00:55:49,119 it's going to tell a story and it'll 1653 00:55:46,799 --> 00:55:51,040 give us a general market sentiment 1654 00:55:49,119 --> 00:55:52,880 but not always is it going to be 1655 00:55:51,040 --> 00:55:54,960 guaranteed because sometimes 1656 00:55:52,880 --> 00:55:56,640 you know we see this as a strategy game 1657 00:55:54,960 --> 00:55:58,480 right and as a strategy game 1658 00:55:56,640 --> 00:56:00,000 a lot of players will play against each 1659 00:55:58,480 --> 00:56:02,079 other so this one here 1660 00:56:00,000 --> 00:56:03,920 looked like a bearish engulfing or sorry 1661 00:56:02,079 --> 00:56:05,200 a bullish engulfing candle with a 1662 00:56:03,920 --> 00:56:07,599 tweezer bottom right 1663 00:56:05,200 --> 00:56:08,960 or even a spinning top but because it 1664 00:56:07,599 --> 00:56:10,880 actually didn't get anywhere 1665 00:56:08,960 --> 00:56:12,400 hey you might have taken a chance there 1666 00:56:10,880 --> 00:56:13,200 you might have got stopped out and broke 1667 00:56:12,400 --> 00:56:15,040 even 1668 00:56:13,200 --> 00:56:16,480 this one as well right it looks like 1669 00:56:15,040 --> 00:56:18,640 it's going to support 1670 00:56:16,480 --> 00:56:20,480 almost supported but it didn't really 1671 00:56:18,640 --> 00:56:23,440 get anywhere the next day 1672 00:56:20,480 --> 00:56:24,960 right but this candle for example is a 1673 00:56:23,440 --> 00:56:27,520 nice hammer candle 1674 00:56:24,960 --> 00:56:29,040 and with a really long wick right so 1675 00:56:27,520 --> 00:56:32,160 because it has a really nice 1676 00:56:29,040 --> 00:56:35,040 long wick and it actually has 1677 00:56:32,160 --> 00:56:36,160 lots of volume it was very easy to tell 1678 00:56:35,040 --> 00:56:38,240 as well 1679 00:56:36,160 --> 00:56:39,520 that it was going to uptrend eventually 1680 00:56:38,240 --> 00:56:41,440 right 1681 00:56:39,520 --> 00:56:43,680 so if you guys look at this region right 1682 00:56:41,440 --> 00:56:45,440 here we see it trending in this region 1683 00:56:43,680 --> 00:56:46,400 for a really long time with a lot of 1684 00:56:45,440 --> 00:56:49,760 wicks right 1685 00:56:46,400 --> 00:56:51,280 near the 6500 range and that alone was 1686 00:56:49,760 --> 00:56:53,680 actually very indicative 1687 00:56:51,280 --> 00:56:54,720 in my opinion that it was eventually 1688 00:56:53,680 --> 00:56:57,680 going to 1689 00:56:54,720 --> 00:57:00,240 go on an uptrend right so we see lots of 1690 00:56:57,680 --> 00:57:02,240 wicks and downsides lots of wicks 1691 00:57:00,240 --> 00:57:04,400 so these wicks are basically indicating 1692 00:57:02,240 --> 00:57:06,880 support and especially when we got 1693 00:57:04,400 --> 00:57:08,640 these two wicks right here guys okay 1694 00:57:06,880 --> 00:57:11,440 these two wicks right here 1695 00:57:08,640 --> 00:57:12,480 they give us a really good clue to tell 1696 00:57:11,440 --> 00:57:14,799 us at that there's 1697 00:57:12,480 --> 00:57:15,760 two rejections over two days to the 1698 00:57:14,799 --> 00:57:17,839 downside 1699 00:57:15,760 --> 00:57:20,000 so the next few days it's definitely 1700 00:57:17,839 --> 00:57:21,599 going to go on an uptrend right 1701 00:57:20,000 --> 00:57:24,000 so let's take a look at some other 1702 00:57:21,599 --> 00:57:26,640 candles right here for example 1703 00:57:24,000 --> 00:57:27,760 this one started to get uh just three 1704 00:57:26,640 --> 00:57:29,920 days ago on 1705 00:57:27,760 --> 00:57:31,760 actually sorry may the third here uh we 1706 00:57:29,920 --> 00:57:34,880 ended up getting a bearish 1707 00:57:31,760 --> 00:57:36,160 in uh hanging man candle right we got a 1708 00:57:34,880 --> 00:57:38,720 hanging man candle 1709 00:57:36,160 --> 00:57:41,119 which was starting to imply already that 1710 00:57:38,720 --> 00:57:42,799 the bolds were starting to lose steam 1711 00:57:41,119 --> 00:57:44,480 but the bulls said you know what we're 1712 00:57:42,799 --> 00:57:46,160 actually going to try a little bit 1713 00:57:44,480 --> 00:57:47,599 we're going to try to push it up push it 1714 00:57:46,160 --> 00:57:49,920 up push it up right 1715 00:57:47,599 --> 00:57:51,040 and the bulls definitely did a great job 1716 00:57:49,920 --> 00:57:54,079 but the next day 1717 00:57:51,040 --> 00:57:57,040 the bulls tried to push it up again 1718 00:57:54,079 --> 00:57:58,799 and they fail okay they completely 1719 00:57:57,040 --> 00:58:00,960 failed unfortunately 1720 00:57:58,799 --> 00:58:03,599 and because they failed we ended up 1721 00:58:00,960 --> 00:58:06,720 getting this double tweezer formation 1722 00:58:03,599 --> 00:58:09,760 at the top which is basically two widths 1723 00:58:06,720 --> 00:58:10,480 right so with two wicks guys whenever we 1724 00:58:09,760 --> 00:58:13,119 see them 1725 00:58:10,480 --> 00:58:13,680 we always have to think of it as very 1726 00:58:13,119 --> 00:58:16,240 bearish 1727 00:58:13,680 --> 00:58:17,839 and rejection and surely enough after 1728 00:58:16,240 --> 00:58:20,319 yesterday's candle formed 1729 00:58:17,839 --> 00:58:21,680 we're now getting this massive candle on 1730 00:58:20,319 --> 00:58:23,920 the downtrend 1731 00:58:21,680 --> 00:58:25,200 so we're going to keep going over a lot 1732 00:58:23,920 --> 00:58:27,359 more of this in 1733 00:58:25,200 --> 00:58:29,760 other videos to come and you guys are 1734 00:58:27,359 --> 00:58:31,040 going to familiarize yourself with a lot 1735 00:58:29,760 --> 00:58:32,480 of this okay guys 1736 00:58:31,040 --> 00:58:34,799 i assure you that there's going to be 1737 00:58:32,480 --> 00:58:35,680 lots and lots and lots of practice down 1738 00:58:34,799 --> 00:58:37,280 the road 1739 00:58:35,680 --> 00:58:38,880 so i think that we're going to conclude 1740 00:58:37,280 --> 00:58:41,040 the lesson here 1741 00:58:38,880 --> 00:58:42,880 tons of examples i don't want to 1742 00:58:41,040 --> 00:58:45,359 overwhelm you guys with material 1743 00:58:42,880 --> 00:58:47,200 i think we might have gone over almost 1744 00:58:45,359 --> 00:58:47,839 an hour already for this particular 1745 00:58:47,200 --> 00:58:49,440 video 1746 00:58:47,839 --> 00:58:51,200 and we're going to go through tons of 1747 00:58:49,440 --> 00:58:51,680 these lessons because i want to make 1748 00:58:51,200 --> 00:58:53,839 sure 1749 00:58:51,680 --> 00:58:54,720 that you guys are actually very 1750 00:58:53,839 --> 00:58:56,799 comfortable 1751 00:58:54,720 --> 00:58:58,880 with everything that i'm talking about 1752 00:58:56,799 --> 00:59:00,079 so thank you very much guys for joining 1753 00:58:58,880 --> 00:59:02,400 me for this lesson 1754 00:59:00,079 --> 00:59:03,680 so in this lesson we covered basically 1755 00:59:02,400 --> 00:59:06,400 how to read charts 1756 00:59:03,680 --> 00:59:08,480 right from a candlestick analysis type 1757 00:59:06,400 --> 00:59:09,040 we also talked about price action as 1758 00:59:08,480 --> 00:59:11,440 well 1759 00:59:09,040 --> 00:59:13,119 the candlesticks they actually dictate 1760 00:59:11,440 --> 00:59:15,520 or not dictate but they 1761 00:59:13,119 --> 00:59:16,240 they tell us a story about the price 1762 00:59:15,520 --> 00:59:18,480 action 1763 00:59:16,240 --> 00:59:20,000 and what's happening in the market at 1764 00:59:18,480 --> 00:59:21,599 that specific time 1765 00:59:20,000 --> 00:59:23,119 and when we learn how to read 1766 00:59:21,599 --> 00:59:25,359 candlesticks a lot better 1767 00:59:23,119 --> 00:59:27,359 and also read the price action when we 1768 00:59:25,359 --> 00:59:28,240 combine it with things like level two 1769 00:59:27,359 --> 00:59:30,799 for example 1770 00:59:28,240 --> 00:59:32,079 when we combine it with things like rsi 1771 00:59:30,799 --> 00:59:34,720 and macd 1772 00:59:32,079 --> 00:59:36,400 as well it'll actually increase the 1773 00:59:34,720 --> 00:59:38,400 chances of us being 1774 00:59:36,400 --> 00:59:39,680 having a higher probability of being 1775 00:59:38,400 --> 00:59:42,880 successful right 1776 00:59:39,680 --> 00:59:45,359 so we want to find more reasons to 1777 00:59:42,880 --> 00:59:47,359 to take a trade right and this is called 1778 00:59:45,359 --> 00:59:49,040 confluence once again right 1779 00:59:47,359 --> 00:59:50,960 see i'm just gonna spell it out for you 1780 00:59:49,040 --> 00:59:52,559 guys confluence right over here if you 1781 00:59:50,960 --> 00:59:54,960 guys see i'm gonna highlight it 1782 00:59:52,559 --> 00:59:55,839 confluence okay i know it's a word 1783 00:59:54,960 --> 00:59:58,720 that's not used 1784 00:59:55,839 --> 00:59:59,440 a lot but confluence when we try to find 1785 00:59:58,720 --> 01:00:01,440 hey 1786 00:59:59,440 --> 01:00:03,839 the candlestick is actually showing us 1787 01:00:01,440 --> 01:00:04,480 that for example you know it might find 1788 01:00:03,839 --> 01:00:06,720 support 1789 01:00:04,480 --> 01:00:08,240 hey our side is actually bullishly 1790 01:00:06,720 --> 01:00:11,440 diverging right now hey 1791 01:00:08,240 --> 01:00:13,760 macd histogram is ticking up right now 1792 01:00:11,440 --> 01:00:15,280 wow hey level 2 is showing a lot more 1793 01:00:13,760 --> 01:00:17,359 people interested in buying 1794 01:00:15,280 --> 01:00:19,760 hey volume as well is showing people 1795 01:00:17,359 --> 01:00:21,920 buying so you're finding tons and tons 1796 01:00:19,760 --> 01:00:22,480 and tons of these reasons to enter a 1797 01:00:21,920 --> 01:00:24,319 trade 1798 01:00:22,480 --> 01:00:26,240 and because you're finding tons of these 1799 01:00:24,319 --> 01:00:28,559 reasons well it's a really good 1800 01:00:26,240 --> 01:00:29,680 sign then you would actually have more 1801 01:00:28,559 --> 01:00:31,920 confluence 1802 01:00:29,680 --> 01:00:33,760 so you would want to enter the trade and 1803 01:00:31,920 --> 01:00:36,799 as you actually enter the trade you have 1804 01:00:33,760 --> 01:00:38,559 also a higher probability of winning it 1805 01:00:36,799 --> 01:00:40,799 simply because you're finding more 1806 01:00:38,559 --> 01:00:42,160 confluence so with higher probability 1807 01:00:40,799 --> 01:00:43,920 trades that you're taking 1808 01:00:42,160 --> 01:00:46,079 it's going to increase your chances of 1809 01:00:43,920 --> 01:00:48,000 just winning well more down the road 1810 01:00:46,079 --> 01:00:50,400 so i had a lot of fun talking to you 1811 01:00:48,000 --> 01:00:52,559 guys about lesson number eight over here 1812 01:00:50,400 --> 01:00:53,599 we are almost done if you guys get to 1813 01:00:52,559 --> 01:00:56,799 level 17 1814 01:00:53,599 --> 01:00:58,960 that is the big one okay guys lesson 17 1815 01:00:56,799 --> 01:01:02,480 will have so many examples 1816 01:00:58,960 --> 01:01:02,960 of using my specific strategy and what i 1817 01:01:02,480 --> 01:01:06,319 do 1818 01:01:02,960 --> 01:01:07,280 and it will have about 20 live trades 1819 01:01:06,319 --> 01:01:09,200 for you guys 1820 01:01:07,280 --> 01:01:11,760 three quarters of them will be going 1821 01:01:09,200 --> 01:01:14,079 long and a quarter of them will be going 1822 01:01:11,760 --> 01:01:15,680 short okay so when you guys actually get 1823 01:01:14,079 --> 01:01:17,520 through all of these lessons 1824 01:01:15,680 --> 01:01:19,119 you're going to have a lot of experience 1825 01:01:17,520 --> 01:01:20,559 under your belt you're going to have a 1826 01:01:19,119 --> 01:01:22,240 lot of information 1827 01:01:20,559 --> 01:01:23,920 under your belt as well and you're going 1828 01:01:22,240 --> 01:01:25,119 to know exactly what i'm talking about 1829 01:01:23,920 --> 01:01:27,359 when i live trade 1830 01:01:25,119 --> 01:01:29,200 and you guys can watch the magic happen 1831 01:01:27,359 --> 01:01:30,079 so thank you very much for joining me 1832 01:01:29,200 --> 01:01:31,920 for lesson eight 1833 01:01:30,079 --> 01:01:33,839 i had a wonderful time talking to you 1834 01:01:31,920 --> 01:01:35,920 guys about charts talking about 1835 01:01:33,839 --> 01:01:36,880 analyzing candlesticks talking about 1836 01:01:35,920 --> 01:01:38,640 price action 1837 01:01:36,880 --> 01:01:40,880 and i really look forward to talking 1838 01:01:38,640 --> 01:01:41,440 about lesson nine with you guys which 1839 01:01:40,880 --> 01:01:43,440 will be 1840 01:01:41,440 --> 01:01:45,839 about the big picture and the little 1841 01:01:43,440 --> 01:01:47,760 picture and how to interpret time 1842 01:01:45,839 --> 01:01:49,920 frames so have yourselves a wonderful 1843 01:01:47,760 --> 01:01:52,000 day thank you very much for joining me 1844 01:01:49,920 --> 01:01:53,680 in this particular lesson students make 1845 01:01:52,000 --> 01:01:56,079 sure you guys are posting 1846 01:01:53,680 --> 01:01:56,880 tons of questions okay post tons of 1847 01:01:56,079 --> 01:01:58,400 questions 1848 01:01:56,880 --> 01:02:00,799 make sure you guys reach out to me on 1849 01:01:58,400 --> 01:02:02,480 udemy we're gonna be able to tackle a 1850 01:02:00,799 --> 01:02:02,960 lot of these questions that you guys 1851 01:02:02,480 --> 01:02:04,319 have 1852 01:02:02,960 --> 01:02:06,160 because i want to make sure that you 1853 01:02:04,319 --> 01:02:07,920 guys are getting your dollars worth 1854 01:02:06,160 --> 01:02:09,440 so have yourself a great day and thank 1855 01:02:07,920 --> 01:02:10,559 you very much for joining me on this 1856 01:02:09,440 --> 01:02:12,480 lovely afternoon 1857 01:02:10,559 --> 01:02:14,400 i hope you guys have taken a lot away 1858 01:02:12,480 --> 01:02:16,559 from this video and more importantly i 1859 01:02:14,400 --> 01:02:17,119 hope you've had a very fun time learning 1860 01:02:16,559 --> 01:02:19,200 as well 1861 01:02:17,119 --> 01:02:23,119 may you guys always stay profitable take 1862 01:02:19,200 --> 01:02:23,119 care now bye 128962

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