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welcome back this is the third part of
our intraday workshop so let's just
quickly refresh our memory what we
talked about so we talked about the
importance of the high time frame for
the intraday trading going to let's say
to the daily understanding the daily
swing bars understanding the daily
structure going maybe even slightly high
to the weekly monthly just to understand
the whole history of an instrument or
maybe there is a much larger structure
then we've talked about specifically
with stocks how the selection of the
popular momentum stocks you know is
really good because we want to
participate in our in the stocks that
are going to be extremely volatile and
usually those popular momentum stocks
depending on where they are in the
structure are going to provide us with
that opportunity then we talked about
general guidelines and rules for day
trading stocks and there are quite a few
of them so I'm not going to go into that
we went through the comparative analysis
of the first 30 to 60 minutes and it's
kind of crucial to see you know what is
outperforming during a specific day on a
specific day and that could be your
selection criteria we've talked about
the importance of keeping it a little
bit simple simple not having a lot of
stocks to look at for the day trading
because it is going to distract you
energy is going to be too much to handle
so now let's let's talk about the idea
of a switch I switch from the intraday
entry to a swing trade
so specifically here I'm looking at
Google again it's one of the momentum
popular stocks that people would be in
corn to day trade to swing trade so we
want to participate in this stock we're
looking at the long term structure and
by long term structure I'm seeing here
almost a gorilla range really quickly
you know labeling we have a change of
character here so therefore this is a
climactic action automatic reaction
secondary test phase a and then if you
look at the whole structure and the
question was I was asked a question why
is this not this C so one of the things
here is that we have to think in terms
of the areas of the tests right so what
are we testing yeah where are our tests
so here is the first area here is the
second area and here's the third area so
if I would label them with the phases
you know this is gonna be the labeling
so therefore you know my C is here
rather than here also another point is
you think about where is a sign of
strength here so in clearly this is a
sign of strength and this is a backing
up action and please note how nicely on
this slope here we have the touch of
this support just works out x2 my nicely
and this is the second law right here so
where is the sign of strength right here
so the previous low before the sign of
strength is gonna be the low for phase C
so therefore this is how we would look
at the labeling of the structure the
trade that we're going to consider is
going to be here all of this so we're
going to be looking to intraday trade
this area right here and obviously we're
doing this on purpose we're doing this
on purpose because if we understand the
long term structure
we can start thinking about how we can
date trade you know a possible move to
the upside like a sign of strength
so let's look into this area right here
and let's see what kind of structure we
have here and here is our structure so
again a couple of questions here are
very interesting spots to consider for
labeling it's obviously a launch on face
C and then within this long term we have
another trading range which we could
label as well
all right so why do I put automatic
reaction right here and the climactic
action could be either here or here well
I'm looking at the change of character
change of character a relative to what
relative to this move to the upside this
was the move this was the swing up I'm
looking at all of the reactions here and
I'm seeing that this reaction right here
is the largest reaction plus it also
broke the trend so therefore that would
be a change of character reaction if
this is a change of character so
therefore this is going to be an
automatic reaction right here secondary
test as a test of the previous highs
secondary test at the bottom um you know
for the support a test of the previous
lows another test a second point of fear
we could see it very clearly here spread
is increase in supply is slightly
increasing relative to B so that's
definitely an indication of phase C and
then the sign of strength again you know
for the smaller trading range this is
probably a back up backing up action
that we see here so what we want to do
next now we are at the daily now there
we are at this phase C we're looking at
face C again and we want to look there
is another trading right right here so
we can't really see it on the daily so
we'll
go to the intraday we want to understand
the intraday price structure we want to
understand the daily swing reversal and
then we'll talk about the predominant
intraday trend which will help us to
understand what kind of how we're going
to use the stop-loss
still the trade on the consideration is
all of this so here we're looking at the
daily swing reversal first in this
smaller trade range and then we're
looking at the last commitment to the
downside which was you could consider
this to maybe even this an attempt I
mean attempt to commit to the downside
and we see that either was this bar
right here or definitely was this bar
the down swing has been reversed and now
the bias is to the upside and we kind of
like logically going through all of the
steps we looked at the long-term picture
we look at the shortage on picture now
we're looking at the event shortage on
picture right here now we're going to
look at the intraday action of this area
right here so this is the range and
let's just quickly label this change of
character is the largest rally on
anything that we've seen before
for this move to the downside secondary
test phase a test test another test
possible spring minus sign of strength
while minor because there was a higher
law after that but yet the price came
back to the trading range but it acted
as a sign of strength and so we'll label
at el psy test of the spring next one
I'll psy Tech's a test of the spring
final commitment above
sign of strength and a backing up action
which does not even come back to the
support and that shows you know a strong
structural structural strength okay so
what can we do here you know on we
definitely see that the reversal of this
win has happened and has been confirmed
on this day so our bias is going to be
up from that point of view daily swing
bars our long-term structural bias is
also up based on the fact that we are in
phase C of a larger phase C so our
long-term structural bias is up as well
now let's look at more of the intraday
action and let's see where we could
potentially have a point of entry so as
we are expecting as sign of strength on
the intraday basis as we see the gap we
are probably thinking that this gap is
our first commitment to the upside if
we're gonna date rate this day and we're
gonna end up with the price not coming
back into the trading range this is
going to be a true sign of strength or
indication so therefore we are starting
to trade on the intraday basis with an
idea that potentially by the end of the
day we might switch and have a swing
trade after that
so we go to a lower timeframe five
minutes and by the way you know you can
incorporate the comparative analysis
with other stocks you know as well but
you know you're you know structure is
gonna dictate that you're probably gonna
day trade this stock around this area
one way or another and then just hope
that one day is going to be a trending
day and you can leave the position on so
let's just look let's look oh I see I
see okay what I am what I wanted to show
here okay so I'm sorry I'm just going
back a little bit so I wanted to look at
this rally right here because this
really axes a change of character on the
way out look at this right the biggest
rally that we've had so far in the range
so we definitely want to figure out
could we have a point of entry after the
reaction here so let's look at the
reaction so here is this rally this
minus sign of strength we're thinking
potential change of character like this
potential change of character but then
we are waiting for the reaction which we
expect there's going to be the smallest
reaction you know in the trade you
mentioned then we have this type of the
reaction what do we see here we see that
this spread is increasing and we see
that the volume is increasing
particularly supplies increasing as well
our rule is if we see the increase of
the supply we're waiting for the test
that is going to happen on the high-low
structurally and on the contraction of
the supply all right so what do we see
here we see two lows right here supply
has contracted
and we have a slightly higher low here
so this could be a potential point of
entry but is there anything guys in this
area right here that just catches the
eye of why we would probably not prefer
to close to open this position can
anyone see that
okay so carry on the same time of the
day what about the time of the day of
cure yeah 9 and 11 you know so it's kind
of like a lunchtime yeah I like the
comment about the tight spread as well
so with the lunchtime right here we are
actually going to expect that the
volatility is going to decrease and
volatility has been really high at the
beginning of this session so if there is
some kind of reversal there should be a
lot of strength because we need to
overcome this supply on the way up and
we know that after 11:00 we either going
to have a continuation or a potential
reversal so it's it's better to wait and
then as we come into this area right
here and it seems like okay maybe we
have a structure here for the whole day
like a trading range like this and maybe
this is C and we're thinking okay we
just need to wait for the high-low and
lower supply supply is not common at the
level that we want but it's still a
high-low now now would we open the
position here we
wouldn't why well because we don't want
to open in the last you know 20 30
minutes what if tomorrow morning or
after the market hours there is some
kind of news or anything like that and
you know it gaps down on us something
like that
so we don't want that the price gets up
now there is a lot of supply in this bar
right here and we see that right after
you know attempts to go up unsuccessful
and we're just going down so we still
have a very good presence of supply
compared to the previous area of the
supply so if there is so much supply
what can we expect well here we
consolidated so what are we gonna do
here probably we're gonna consolidate as
well and kind of like the same logic we
want to test this low at the high low
with the contraction of the supply it
comes but again it comes kind of like at
the weird place where you know we're a
luncheon there so we don't want to do
that and again we're missing the entry
point you know somewhere here by the way
on the daily you might consider entering
on this day and then the next point of
entry for us and you know the first
point of entry and finally we can find
it happens on a much better gap this gap
is so much different than this one we're
on the first bar we actually have a
continuation in the direction of the gap
and we have a further continuation in
the direction of the gap even though
supply is present but look at the
reaction here it relative to the move
it's actually not as bad as we had it
here so look how it comes here look how
it comes here below 1/2 here we are
probably what one-third down so reaction
is much more shallow gap is much larger
is definitely change of character on the
gap of how gap is you know acting so we
are looking for the first 30 minutes of
the session we define the range here it
is and we're basically saying that
because of this change of character on
the intraday action you know we are just
basically for some weekend for some kind
of intraday reversal which would
identify a point of the entry for us and
here it is this bar right here and we
enter this bar we could put the
stop-loss just below slightly below it
below the previous law below the
intraday spread range and we can leave
this position on and wait until first
until until the end is done the day is
done and until we can make some kind of
assessment whether we want to leave this
position on or not so how would we
decide whether we're going to leave this
position on or not one of the things to
think about here is the whole action on
a day so when you look at the daily this
is the day that it happened you have to
consider a true range for the day which
this is the closed by the way which is
this and then the question is this a
significant bar if this is a significant
bar then our decision is just to leave a
position on
for a potential swing trade if that's
the case then our stop loss is going to
be left at a regional intraday stop loss
level I should have written this down
okay well at least you know you guys can
work on this a little bit and just make
some notes so our stylus is not gonna be
low B below here is gonna be somewhere
here and we're just gonna hope that
there's going to be a continuation and
we instantly rewarded the next day and
based on this two days we're just gonna
decide that we're gonna stay in this
position now one of the ways to think
about the stop loss movement is going to
be all about the idea of the predominant
trend so how would we define which time
frame to use for our stop loss so let's
say that we we are here at the end of
the day and we decided that we're gonna
do a swing trade but we still understand
that probably we should have the stop
loss on some kind of intraday basis all
right so we want a quick swing and out
so we would have to look at the previous
instance where the price was going up so
I'm identifying the previous rally I'm
looking at the 60 minutes and I would
experiment I would put maybe like two
hours timeframe I would put maybe like
15 minutes 30 minutes 60 minutes and see
if I could have one swing in one
timeframe
without any reversals so when I look at
this 60 minutes here I see that there
was a reversal right here there is a
significant bar here so my stop-loss
will be here then the next significant
bar is here and my stop-loss is going to
be somewhere here and I could probably
exit either here or on the way out but
basically that was the swing so one hour
seems to be working okay you know for
this type of swings so I can actually
use 60 minutes you know to identify
where my possible exit out of this trade
is and as we go up I see on the next day
60 minutes bar here which is significant
bar then the next significant bar then
the next significant bar which I could
divide into half and then the next
significant bar and here is the
stop-loss I mean it's been moving like
this this this this then this and now
this so somewhere in this area I will
get out of this position and look what
their trade we have had here here's the
trade now it's it's this trade actually
spends on through one two three or three
and a half days so that's not your
intraday trade per se but it's it's a
very short swing trade that we've had
now think about kind of like the
benefits of what we've done here with
this switch to the swing trade if we
would have traded we probably would have
day trade this day somewhere here this
day somewhere here and then this day
that would be the trade right here
now we would minced couple of spots here
first of all we would means this we
would miss this and then it's not the
fact that we would even participate in
all of those three trades we might be
distracted you know with whatever Life
brings to us on those particular days we
might miss them even sitting there in
front of the computer also we could make
mistakes with those trades as well we
could either you know downsize it we
could be late on the entry we could be
early on the entry we could be shaken
out so there are a lot of scenarios that
can go against us in the execution
period so therefore you know if we have
just one trade and it carries us through
all of this 3-4 days you know we are
definitely much more confident here
especially on the second day when there
is such a big move to the upside and we
collected more profit okay let's look at
the rest of the trades here so once we
exited somewhere here in this area and
this was the trade we could three into
this trade because there is nothing
really that has changed we're still in
the daily upswing we're still in the
structural up bias you know long term
short term very very short term and
we're still trading the momentum stock
so the next entry for us will be on this
day right here and that would be you
know on the intraday basis and then by
the end of the day we're still probably
going to be keeping this position
because if we look at this whole day you
know we're closing above one half of the
day
our stop loss is going to be originally
somewhere here now we're just hoping
that there's going to be a continuation
next day it continues to the upside
we're holding on to the position and
then next day it gets up we'll
continuing to the upside and we are
basically using the same 60 minutes for
significant bars and here is where our
potential exit could be so we can exit
on the change of character and this is
the largest reaction since this law
right here or we could potentially exit
on the way out on a secondary test of
rally so that's up to you how you want
to exit it I want to concentrate on the
comparison comparison between five
minutes with reversal traits that we
could have each day so each day we could
have a couple of trades that are gonna
go in the direction of the uptrend or we
could introduce switch to a swing trade
so we had one switch here and this was
the trade and we made $27 35 cents in
number of points that we've collected
here and the second trade we are
entering here and we are exiting and I
put the exit on this bar right here so
I'm just basically saying that we are
exiting on the way up you know trying to
reach the secondary test high that was
created by the climactic action so that
trade was 105 30 now you might say okay
well there is a big gap here so maybe
it's not a fair comparison I'd say on
the contrary if you're trading the
momentum stocks and you're doing that
type of switch this is what day traders
are missing
especially in stocks because you're
gonna have some events in stocks and
you're gonna have those type of gaps you
know especially like on the earnings or
something like that so you could trade
this day and you know you still have a
big spread here of $20 for the day trade
and you can have a lot of you know
profits here but you know consider
thinking about what if I open as an
intraday trade I know that there's going
to be a sign of strength
what would the sign of strength be
associated with a lot of velocity a lot
of momentum how would that momentum be
depicted either big spread bars or some
gaps so therefore is this a profitable
opportunity for me to make that switch
from the intraday to the swing trades
yes it's definitely a very profitable
idea so two trades only two wins 0
losses $132 over collected and here's
the stats for all of the trades I just
conducted them kind of like paper traded
them for this particular move the rules
we're gonna open a position only between
7:00 and 12:30
so we awaken for the first 30 minutes to
develop I should have mentioned that
lunch hours are going to be excluded
we're only going to go alone no
overnight positions for the 5-minute
swing trades so basically the intraday
trade and you know at its purest and we
have in this area right here we have 6
Straits and the result here is 11 19 we
have 1 loss at the end and look at
what's happening here the first trade
that we've had using this switch to the
swing trade is still producing more than
twice amount of profits than the ones
where we're just prayin you know trying
to day trade each day so you
I'm multiplying your mistakes within a
larger number of trades intraday trades
instead of two you have six
you are also minimizing your profit
because there are some areas where
you're gonna have some gaps plus some
signals are gonna come a little bit late
you know into the beginning of the
session you know you might not go come
in at the lowest price of the day on the
way out you're gonna be thinking about
you know where your accident and that's
gonna be eating up some of your profits
as well so therefore even on this small
example right here on this trade you
know we could see that it's better at
the correct timing to make that switch
this second set of trades which was done
right here in this area here they are
and we have three of three profitable
trades two unprofitable I'm actually not
worried about you know on profitable
trades here they're very small in
comparison to profitable trades this one
was a little bit more than we would
prefer to be but basically eight wins
three losses for the whole series twenty
seven dollars collected total here 132
so there is no comparison really even if
you take out the gaps of let's say of
what let's say six ten and here 675
so that's $65 so let's take like $65 so
I am in at 65 so that's going to be 60
years around 67 67 dollars still when
we're comparing to twenty seven dollars
almost three times more if we don't
count the gap so I think that this is a
strong argument here for us to can
sitter switch into a swing trade at some
point when we we seen the benefits of
such switch
okay let's confirm this idea with
another case study we're gonna look at
the monster beverages and then after
this we'll stop and we'll see you know
if we have any questions or comments
so in this I've presented at the swing
workshop so some of you might be
familiar with this basically we're
looking at a stepping stone we
accumulation range right here and we
identifying phase C in this area and we
identifying a reversal now was this
reversal you know we could enter this
reversal at the end of the day let's say
at what at 2850 we could go through this
whole swing and then we could exit right
here on the sign on the signs of the
change of character bar at 1415 we would
make of it I think that yeah this was it
was this through John and we are
entering in twenty eight yes so that was
the return so if we are making about
forty one percent on this trade and it
it is 112 days that we're in the track
in the trade and our annualized return
and this is the velocity how I measured
the velocity of how much money were
making how quickly we're making the
money was over two hundred percent so I
always try to look with swing trades on
this number or long term trades it just
gives me an indication whether you know
I was in a trade that was you know high
velocity trade and therefore you know
what this is efficient use of capital so
that's one of the possibilities but then
and by the way you know risk and
management let's go through this too so
we entered the trade at twenty eight
fifty stop-loss was two dollars below so
our risk is two dollars our exit on
average is around $40 and our average
profit is 1150 so our reward to risk
ratio is 1150 divided by two which is
five seventy five so this is a really
good ratio reward to risk ratio because
it allows us to think in terms of the
many number of trades that we're going
to come duck like this and let's say if
we are having let's say 100 trades and
we have a 50% expectancy so that means
that 50 wins and 50 losses appear on our
statement then looking at the risk
reward we are saying that 50 trades are
gonna have this reward and then 50
trades I just gonna lose and one unit of
risk is gonna be lost so on one unit of
risk we are having 575 units of profit
so I don't want to calculate this
exactly but we basically around we are
above 200 units of profit which is a
really good indication for this system
so the larger the bigger this number of
the reward to risk ratio the better for
the system now for the intraday entry on
the same day if we would consider
intraday entry and we would consider
increasing this size on the intraday
entry and keeping this by the end of the
day our reward to risk ratio would be 41
now think about this six of
41 so on each unit of risk that we are
we are having we are getting 41 units of
profit that's a tremendous average of
reward to risk so how can we get to that
point how can we actually have that type
of trade well we would have to go
actually into this smaller area right
here and then come to the intraday
action for this area and figure out how
we could possibly intraday trade and
then how we could possibly switch from
the intraday trade to open in a swing
and keeping it as a swing position so
here are the days under consideration
for day trading that we've had with this
in this stock in that particular spot
and by the way monsters monster barrages
is also and was a momentum stock so this
is the start that you would be looking
for you know to initiate your positions
you know intraday positions so on day
number one what we see is and we're
comparing to the lower chart which is
the market proxy and I I don't actually
recall to what this is exactly this is
probably Q's right here so we see on
that on day number one monster barrages
is just going down with the gap so much
so in the first 30 minutes and this is
going to be where we want to observe you
know any type of actions by this dark
we're definitely weaker than the within
the market so we're not interested in
coming in it and day trading this stock
at this at this on this day next day we
see that the first 30 minutes could be
stronger than the market but there is no
really any breakout you know to the
upside in the first 30 minutes
so again we're gonna be inclined not to
trade here we were thinking that this
was phase C by the way so we're thinking
also that you know we should if this is
some kind of spring action we should
have some kind of test in action so the
test comes at the beginning of day
number three with the gap down and it
actually goes below the the low that was
previously created by this spring so
this presence of the supply and the fact
that the price went lower than the
previous low again Nicki's you know
everything that we want to accomplish
with this stock so structurally we just
have to wait and we just have to
understand that we might have a trading
range right here rather than just a
small spring point and then a test on
the next day we actually open up quite
strong but we never come into the upside
above the first initial 30 minutes the
market is weaker but that first you know
30 minutes the breakout to the breakout
to the upside does not happen for us so
we don't want to do anything here next
day we are getting up and coming down
really fast the market gaps up and
doesn't go down that fast so we are
weaker here and therefore we don't want
to participate next day again we're
getting out but quickly going down
whereas the market is holding the gap so
again we are weaker and we don't want to
participate next day the gap up is
actually quite successful and we might
consider this you know as a potential
day for us you know to trade the gap in
the market is actually stronger so that
could be the only thing that could keep
us away but even if we day trade you
know and we say open position somewhere
here we
how the price actually goes down so we
would close this position either was a
breakeven or was the loss and we would
be done for that day next day after the
30 minutes nothing happens and then day
number nine is a significant day for us
because finally you know and we've
traded potentially maybe on this day
only out of all of the nine days day
number nine is where we're going to be
very active from the beginning the day
starts with the big spread to the upside
when the market is much weaker so we are
stronger so this is the one that we want
to choose for our you know up side
trades on the intraday so the first 30
minutes pass and we want to enter on the
first reversal out of that first
reaction by the end of the day we see
that the price stays up there and it
doesn't come down
so therefore the daily spread is going
to be quite significant this is going to
be a significant bar on the daily chart
so therefore we know that we want to
come in on the reversal that would be
identified by the significant bar and at
the end of the day our decision is just
to keep this position on our original
stop-loss is going to be somewhere here
you know below where we've entered we
might have had an addition to this
position at some point maybe somewhere
here so we could actually have a much
more meaningful size than just one
position but let's say that we just
opened one one position you know so our
size is a regular inter intraday size
that we use
so for that trade our point of entry is
gonna be 2765 our stop loss is gonna be
27 35 our risk is only 30 cents so think
about this before here on the same day
at the end at the close of the day our
risk was two dollars so what would we do
with the intraday position here what
kind of risk we're gonna have only 30
cents just because we are trading on a
smaller time frame and our if our entry
is right here our stop loss is here
instead of entry here on the daily and
then our stop loss is here on the daily
so intraday the risk is much smaller
than all of this now the question from
Karen here is would we leave this
topless in the original position with
leave this topless in the original
position overnight yes but the question
I guess you know more important is where
would we leave this topless so let's say
at the end of the day I'm sorry right
here why am i doing it here this is the
next day right here so this would be
various for us you know if we doing the
just the daily swinger of our so okay so
the question is where would we leave
this topless right so we definitely can
move this table somewhere here but the
more correct way to do this because next
day you might have something like this
here zero goes up is to leave the
original stop loss for your intraday
position so somewhere here
and even if you're gonna have some kind
of move to the downside and then
continuation most likely you're not
gonna be here and that the next day was
really good for us here there was only
first initial move to the downside so we
would leave this overnight stop-loss
where their regional intraday stop-loss
was and what we would do once we
switched we are not going to necessarily
use the intraday you know techniques to
move the stop-loss I mean you can if you
do that your exit is probably going to
be somewhere here but you can switch to
the daily stop-loss or to the weekly
stop-loss and you basically can catch
this whole move to the upside so if our
exit is at the same average in $40 our
profit here is going to be twelve thirty
five and our reward Taurus is going to
be twelve thirty five divided by 30
cents of risk that we've identified here
41 units of profits on one unit of risk
so that's a very very considerable
number now let's put this into the
perspective of $100,000 portfolio so
let's say that if my risk aversion is
really low and I'm only risking a
quarter of the percent per position so
that means that I can only risk $250 per
position and usually retail traders are
not like that this is more institutional
type but you would be surprised that
some of the retail traders I actually
like that you know I've met people who
are using you know quarter of the
percent half of the percent and there is
nothing wrong with that this is just you
know the level of acceptance that they
have for for the risk and I think it's
it's
actually very smart so how many shares
can we buy here you know for the risk of
$250 well if this is the risk in dollar
amounts and this is the risk in points
we can buy 833 shares and we can commit
we will commit $23,000 of our capital so
our profit on 883 shares with the $12.35
move to the upside is going to be about
10,000 or about 10% in 122 days we have
risking basically $250 to gain 10,000
think about that we're risking $250 to
gain 10,000 and that is only happening
because your sizing here is different
than your size for the entry on on the
daily basis and this sizing is so much
more significant because of the risk
here your risk is 30 cents on the
intraday 30 and here your risk on the
daily is $2 so this difference creates
much larger sizing for you and if you
identified that date correctly and you
switched correctly and the price is not
coming back to your stop-loss
then you're gonna gain a lot you just
need to wait and exit on the daily or
weekly whatever you decide to do and you
know you could have that type of trade
now also think about this hundred twenty
two days if you're day trading this
stock how many mistakes you're gonna
have here
how many days are you gonna miss how
many trending days you're gonna miss and
how many days you know low-volatility
days you might be frustrated with you
know just day trading you know probably
a lot now what is your maximum risk
right so we always have to think in
terms of like Black Swan events what if
something unexpected happens and we have
a much larger loss so I always think in
terms of and that has happened to me
probably five eight times through my
career where you have a position open
you wake up next day look at the quotes
and then the this dark is like 20 30
percent down usually on bad news maybe
your earnings related to something else
I'm not necessarily talking about like
market environment when the market is in
the bear market so that would be a big
mistake but when we are in the up market
and then you're picking this stock and
then there is something unexpected
happens and I'm sure that you guys have
been in this situation many times since
myself so you know what I'm talking
about so I'm looking at the biggest risk
as an overnight gap down so I'm
averaging the gap down to 20% from the
price of 2765 where we've entered so
let's say somewhere here so the loss on
the same amount of shares that we've
acquired during the intraday you know
trade is going to be four thousand six
hundred or four-and-a-half percent of
your equity so it's a significant number
if your risk aversion is so small
because you have you're losing a lot of
units of risk but at the same time in
the bigger scheme of things 4.6 percent
loss is actually quite acceptable you
know if you're think about what kind of
potential return you're expecting and
then we also have to consider that this
type of event is a low probability event
and therefore this low probability event
or how often is it going to happen I
mean in my 20 years of training happened
to me probably as I say like five to
eight times so I'm quite comfortable
accepting this type of risk especially
considering number of traits that I've
conducted and that would be a completely
you know acceptable level for me now the
problem occurs when we are becoming a
little bit reckless with this idea and
we are on the bad side of the analysis
so we are making a mistake with our
analysis and we're coming in into the
stock that actually is not under
accumulation but maybe it's a
redistribution or distribution you know
different scenarios so let's say that
you know we kind of made a mistake like
that and we're still gonna have the same
[Music]
you know the same type of risk was the
gap down
it was the possible overnight gear well
first of all let's look at the profits
if we increase the size so if we are a
risk in 1% or 1000 out of 100 on the
same intraday entry we're gonna have
3333 shares and we basically commit in
our overall capital our overall
portfolio to this trade so we can't
really go 2 percent we can't really go 3
percent I
you would have to go into the margin
margin requirements you know for those
of you whore intraday trading overnight
are going to be increased so I'm not
sure if you're gonna have it in that
chance let's say we just commit in the
hole
you know equity to this particular
position we're just basically shipping
it in and it's still a good it's still a
good all-in for us because at the end of
the day we see that we were correct
we were right and we already have a
really good profit and if the price is
going to continue which is probably a
high probability that there's going to
continue we're going to have more
profits so on the 1% we gonna have 40%
profits in 122 days and that's a big
significant number because you know the
if we're gonna look at well this is
going to be a 40% as well but we if
we're going to look you know what the
annualized return over two hundred
percent return annualized so this is a
very high velocity trade and it all
starts with understanding the structure
long term structure like this
stepping-stone prior leadership
resumption of the leadership intraday
entry keeping the position on until it's
done
and creating a very sizeable position
based on the initial risk which is very
acceptable by us okay
the problem was this increase is again
you know the gap to the downside so if
we increase in four times then our
potential loss could be also four times
more so could be around you know sixteen
seventeen thousand so that's already a
sideral you know loss that would be on
the edge of you know saying that we have
in a you know somewhat of a drawdown but
again people have different risk
aversion and they definitely going to
follow different type of styles you know
on the risk theme my final thoughts here
is that when you do something like this
understand the worst-case scenario
think about any type of gaps against
your position and let's say speculate if
let's say a twenty eight percent gap
down is going to happen calculate the
loss the potential loss that you're
gonna have to your equity and then ask
yourself a question is this acceptable a
loss for the profits that I'm expecting
so and if it is then you can just go for
it
you can also do it different than you
could let's say create a scaling out
situation where this is your regular
size let's and then you're creating
another position and then your creek in
another position as the price trust us
to travel up and you just keep in those
so you can do that as well that might
gives you a little bit more confidence
but your profit level is going to go
down all right let's see if we have any
questions and comments on this whole
theme of switching from the intraday
point of entry to a swing trade so I
give you two examples guys what
questions do we have what comments do we
have
okay so nothing coming up all right so
that's fine too and by the way let's
just quickly let me just see where we
are and I'm thinking that maybe we you
know if you guys okay with this we don't
have to have this lost break like we can
just go for it but I'm just gonna put my
alarm at 2:49 and we still have about 30
minutes or so okay so a comment I
understand the theory concept is just a
case of getting their analysis right yes
obviously that would be the case but
also let's just assume that we were
wrong in some of the assumptions here
let's say was this trade how would the
price let's say that we were here right
so this is a good point for us to look
at we were on this bar and we were day
trading and we're thinking that maybe
this was phase C and then by the end of
the day we opened the position here by
the end of the day we're basically
saying are we gonna keep this and we're
gonna switch into the swing trade so
basically the same as here so where is
the mistake maybe the mistake was that
we are not correctly identifying phase C
and it's not face C so what would be the
consequence of this analytical mistake
well the next day the price goes down
we're still actually okay because we our
position has been open somewhere at the
beginning of the session our stop loss
is
somewhere here then the day after we
have another day to the downside and
here we are really you know kind of like
already cautious we see that actually
supplies coming in we see that this was
a supply as well so we actually probably
gonna exit on that day
so our risk here is gonna be probably
all unrealized gains that we haven't
collected that we haven't booked rather
than you know losing on the gap down or
something like that so we're still gonna
have a lot of room to get out of the
position especially in the stock that
has been exhibiting strength so I think
that the risk is a little bit more than
I overestimated in terms of if selection
is correct then you're gonna do okay I
think where the risk is is that if
you're wrong on the stock that gets down
on your next day that's when you're
gonna be wrong you know in a big way but
think about the probabilities how many
times has it happened to you quran' how
many times has it happened to you how
many times have you had like open in the
position and then the position just went
overnight into like 10 15 20 30 50
percent gap down oh yeah okay so a
question for everyone then you know how
many times have you guys encountered
that how many times have you open a
position and then the next day it gapped
down to new quiet considerably you know
more than 10 percent or maybe gapped up
if you're shortened let's show
here a little bit and the reason why I'm
asking is because I just want to show
you guys that you know you have to think
in terms of the probabilities right so
we are definitely not in the game of
losing our capital we are in the game of
preservation our first goal is to
preserve our equity and our second goal
is to multiply our equity so from that
perspective we definitely going to be
thinking risk first and then reward so
therefore you know I'm showing you a
potential reward with this type of
switch but I want to ask you and again
you know I'm not getting any answers
here so I'm assuming that you know only
me and Kieran had that type of situation
where you know an instrument gapped up
or down on us anyone else and I just
want to see the numbers
okay maybe it's the lunch okay one
comment several times but not the next
day I would say in three days okay gap
again against me
one day after point of entry at twice a
few days later okay so another yes okay
yeah and I mean what were what were the
losses that you guys encountered I mean
was it like more than ten percent more
than twenty percent I mean what was the
biggest loss I just wanted to see what
was the biggest loss I definitely had
the loss that was more than 20% haven't
had those in the world oh okay 20% yeah
and that's why I'm kind of like a virgin
it down to 20% so again just depending
on your initial risk you have to think
how many of this events you're gonna
have during the year another reply
biggest lost 5% but twice I added to
position in the market reversed in my
favor okay yeah so you have to think
what's the probability here of this
event and then what is your goal you
still want to you know go and create the
money so this is one of the ways you
know to increase that profitability but
of course it's a little bit riskier so
you might choose to trade smaller period
of time you don't have to trade you know
for such a long time you might choose to
have like intraday trade to maybe like a
couple of days swing trade that type of
thing and I showed you on the previous
slides right here how profitable this is
in comparison to just day trading and
you have to understand that you have to
have an opportunity you have to see it
you have to execute on that opportunity
because if you don't then it's not gonna
happen so hopefully you know every time
I show this idea there were a couple of
people that are extremely excited about
that because they're thinking about you
know aggressiveness in their trading you
know and how you know to make money
faster so that's definitely one of the
ways to do it okay great
any other comments questions okay one
question don't we need to consider
volume at the point of entry here I'm
not using the volume here but for sure
you know generally we would want to see
some kind of confirmation now we'll talk
about the volume at the end of the
session so because of the different
period during the session and you
already seen this on intraday charts
whether they are stocks whether they are
Forex or we're gonna go into the amoenus
and amines are going to have kind of
like the same volume structure as stocks
the interpretation of that volume is
going to be confusing I mean how can you
compare the volume during the lunch
hours with the volume that was in the
first 30 minutes so that's going to be
that challenge that in some instances
you're not going to overcome
so therefore structural analysis is
extremely important and then volume
analysis is only something that you
would add on the top of this and then
you know you could kind of like you know
use that I mean if you think about again
like a cumulative way by by David right
so where do you think human cumulative
lead during the introduce
session you're gonna have the biggest
wave where do you guys think this
highest cumulative wave on volume
okay so Karen is saying at the start
okay Chandra is in at the end well both
are right you know at the start probably
at the beginning of the session we're
gonna have the most cumulative volume
there and then at the end of this
session we're probably gonna have the
second largest cumulative volume and
then everything else is going to be like
in that hole between nine and eleven so
how do you actually make a judgement you
know on effort versus result like that
you probably can't right so you have to
have a more homogeneous volume when you
go to the daily timeframe that's what
kind of like evens it out because a day
is a day and then whatever volume we had
on that day that kind of like you know
it's gonna be the same function for
another day
there is no any kind of like huge
seasonality there I mean we might talk
maybe even about full of volatility we
might talk about some are seasonality
there but we we definitely you know that
wouldn't be as confusing as like you
know the intraday session didn't wake a
fuse to double set day volumes if I
remember right Karen I actually don't
know you know I never came up but I
actually slightly remember something
about this but I can't you know say
anything off the trading day yeah you I
think that you can do that right so you
let's say on the intraday how would you
do this on the intraday would you just
double like from nine to eleven
today I can say I'm not really sure yeah
so I mean it's possible I you know I
would advise you guys to experiment was
that Chandra is saying sedative volumes
would double because sedatives were half
days when he prayed it yeah I slightly
recall something like this but I don't
even think about this concept you know
that he describes you know in his book
so long ago and that are not applicable
to our current market but I think it's
an interesting idea I mean if we would
now let's say double the volume during
the lunch hours I mean would that give
us a good indication or not I still
think that the beginning of the session
in the end of the session still going to
dominate in volume signature but again I
would concentrate on this structural
[Music]
points a lot because volume is going to
be confusing with different you know
periods during the session and you can
use it to a certain degree but structure
is always there structure is going to be
something that you can't escape you know
you you can't be confused that much by
this structure okay I think this is kind
of like a fun question but do guys
eating at that desk during lunch hour
buy more or sell more okay well I don't
know exactly what they do there in New
York or anywhere else but you know this
is such a dominant volume signature for
the intraday action right now that you
know it's it's not changing and I don't
think it's gonna change for some time so
even those
you know computer generated programs
that are training they're gonna
recognize the low volatility during that
time and what are they gonna do they're
gonna shut down as well so they're gonna
trade less so therefore there is no
really reason for us to think of why
this is happening or you know how could
we extract the extra information from
that there is really no reason for us
the goal is to make money how can we
make money well we have to look at the
specific things if the volume is going
to be somewhat confusing then why would
we do that
right so simplify complex problems and
get to the point of easy execution of
those of those rules and then you're
going to be you know consistent in your
trading so we don't want very
complicated system but at the same time
you know we want to be a sophisticated
and traders okay
good discussion guys great okay so now
what we have like 20 minutes 20 minutes
before the next break let's definitely
start and then let's see in 20 minutes
whether you want to have a break or not
or maybe we can just like go all the way
and just you know see if we have more
time for questions or even you know and
and earlier so general guidelines and
rules for day trading in minutes again
this is something that I've created for
myself based on my understanding of
Wieck of methodology based on my
proprietary reversal techniques based on
my observations about the market and
what's happening during the market so
let's explore this so again I'm using
the trade view
as my software platform again I'm just
gonna say for amoenus I really like it
it gives me everything that I want to
have now with Amyas because this is a 24
hour market and only closes for you know
part of the weekend we are gonna have a
really good data points and it's not
gonna have like the pre market activity
you know with all volatility that we've
had during for stocks we're gonna have
actually some high volatility in the pre
us session and both Asia and Europe are
gonna trade those instruments and
they're gonna trade their own and this
is in there for the futures like II mean
Ian's are going to be based the action
before the actual US section is going to
be based on what other indices around
the world are doing so that creates more
liquidity for this product and in a way
it kind of acts as a Forex now it still
does not have the same volatility where
it trades like over a trillion dollars
per day but it's definitely when we look
at the chart is much much better than
any stocks that you're going to look at
so what I'd like to do again is I'd like
to define the pre market so pre u.s.
session and I have this kind of like in
this pink transparent box here this was
the close of the previous day this is
the open of the next day so everything
in between I want to look at and I want
to identify the range for this action
that we have before the US market so
that's the first thing that I usually do
and where is it it's definitely not the
first it's number five here
then going through the other rules and
they're gonna be somewhat similar to the
rules that I had with the Stars I want
to understand the daily swing bias so on
the daily I want to know what swing are
we in currently are we in the upswing or
are we in the downswing I want to have
that bias right away because the
majority of my trades are gonna be in
the direction of that suing daily swing
bias and I wanna trade a full size
position in the direction of that swing
and maybe a lighter position size in the
counter trend moves I want to also
understand in intraday structural
position and based on that my bias might
change so what do I mean by that for
instance there is an attempt to up
thrust here so if we have let's say our
daily swing bias is up but our
structural intraday structural bias is
what at this point anybody what do you
guys think we're thinking here at this
point why is that down current why is
that intraday structural bars dance
attempt to up thrust at the resistance
so we are definitely at the resistance
so we're thinking okay climactic action
maybe this is an automatic reaction
attempt to go up second or your test
secondary test a sign of weakness in B
and then here we are in potential sorry
what am i doing in potential up thrust
action still in phase B and therefore
any attempts
you know to go down will be to go down
into potential faith see so structurally
we know that we might have a move to the
downside interface see so therefore our
intraday structural bias is down at this
point when at the opening of the of the
u.s. session and we might take the trait
to the downside with the full full size
as a full size position instead of you
know going somewhat lighter so we can
definitely have a trade to the downside
that's gonna have a full size now let's
look at the support levels again here
look how the pre-market identifies this
levels so what we always want to do is
whenever we have some kind of reversal
we want it to be as close as possible to
the resistance and as close as possible
to the support so in here we see this
reversal right here and just so nice so
our trade is probably and this is five
minutes
you know our trade is probably gonna be
just this and then look how this support
level in the pre-market identifies this
area so correctly and it's not a
coincidence if you think about why this
happens think about the US traders
coming in and I mean professional
traders not the public and what do they
do they do the same type of analysis
where they look at what has happened
around the world as they were sleeping
and they identify all of these levels
and they just basically saying okay well
we are gonna trade in this between these
boundaries for sure and then maybe we'll
either go up out of this trading range
or we'll go down you know and we'll
break out on either
besides so when breakout happens what we
want to see is do we have a failure and
coming back to the support again and
this is another trade to the downside or
do we commit stay above and then we
bounce off the support which acted as a
resistance before and I already showed
you that example before and that was
with a stock I believe and here we just
bounce in and that would be a second
trade right here to the upside a
continuation above the trading range
that was defined by the pre market
activity so what are the rules do we
have here okay we basically talked about
all of this yeah we want to define the
boundaries of the lunch period as well
so from nine to about eleven like this
and we want to see the low and we want
to see the high and if we are in the
position to the upside which we would be
in this area right here our stop loss is
going to be just below this level and
then once we have another point of entry
we definitely basically commit into the
OP site beyond this level right here so
the stop-loss
could be moved here and then if we just
our intent is just to day trade and to
exit you know at the end of the session
or whenever the signal comes we're going
to be very aggressive or zealous topless
going into the end of the session and
which is going to do this something like
that and then we would be getting out
probably somewhere here at the end we
don't want to open any positions if
especially if we just intraday trading
and kind of like in the last hours and
even though here you know we have a
really good move to the upside but in
majority of instances it's not going to
be necessary
the case so I would be inclined just you
know just to stop and not even to think
about those trades in the 20 30 minutes
unless the trade was opened around like
11:00 to 12:30 that period you know and
you still keep in that trade then you
can definitely you know still do it but
to open a new trade
it's either has to be very quick trade
something like here or just don't do it
do it
okay so here is an exercise oh my gosh
and I kind of went through that okay but
let's let's go through this really
quickly again there are a couple of
points that I didn't mention okay so who
would like to volunteer from people who
said that you know it's okay for them to
give me a release let's see
okay yeah Karen go ahead you know which
I am kind of like getting used to you're
talking so okay so I'll give you the
first one so this is where this session
starts and we have the first move to the
upside but would we consider open in and
up a position to the upside here no yeah
we kind of so close to the resistance
like if this is the range then we are
like what this is one half we above one
half so we probably would be looking to
open a position to the downside near the
resistance rather than to the upside
especially structurally we're thinking
as I mentioned you know we're in
potential phase B here so any type of
reversals are possible near the
resistance so we're just waitin okay so
then the reversal of this bar happens on
this one so that would be our first
consideration you know to open the
position structurally we're thinking
that somewhere here we're going to
experience phase C so where is our exit
and where is our potential another entry
somewhere here in this area and by the
way our exit here could be if we're
thinking phase C I mean what our
possibilities do we have to wait until
the close of this bar no we could just
exit yeah we because we're so close to
this support and again guys you know I'm
gonna stress this out this support was
determined not by the previous day this
support was determined by the pre-market
actions from Asia and Europe and this is
just Pacific for amoenus so you kind of
have to you know
put this into the notes but yeah we
could just exit any other support
because if we're thinking that this is
phase C then we know that the price
should go up after that okay so where is
our potential entry here well it could
be but because that Dan move it being so
strong you might want to wait for a test
yeah and I'm putting here supply
increases but in a lot of cases I don't
want even look at the volume especially
like with Z meanness because again very
confusing you have a lot of volume here
a lot of volume here and then the valley
here I mean how do you actually you know
you know deal with this it's where it's
how do you compare the effort right so
like if you're comparing the effort here
then what's happening let's say on this
move to the dumps and well it kind of
like works out here which is which I I
wouldn't want to see about okay so we
might consider opening the position here
but we also might consider that looking
at this spread I mean look at this
spread what does this spread tell you we
want to wait and test that volatility
right yes and you could even not look at
the volume you know that the volume is
going to be a really high here so where
is that test come you know it comes
somewhere here it comes somewhere here
all right so could we find some kind of
reversals in this area yeah I mean I
kind of been looking at the second the
first one that you marked the first test
look that damn ball is still quite a
fall at all yeah so then I'd look at the
next attempt to go down here yeah not
probably trying to be something there
okay something right here
yeah and we still I mean this is very
close to the support where the this is
where it's confirmed you know with lower
volatility and the reversal but we kind
of like in the middle and that's
possible we I mean even if we are doing
it very mechanically which sometimes I
do I send just sometimes I just feel
like you know I'm just gonna trade the
sweets you know that you can do that and
especially if the was the directional by
so let's say that intraday structural
buys here at the beginning of this
session is down but then daily swing
buyers is up for the rest of the session
then basically I'm gonna do this here is
my entry here is my exit here is my
entry let's say exit near the support
and then where is my next exit that's
gonna be somewhere here on this bar so
here is my next trade then I'm not
trading to the downside because after
the first structural bias you know I
have no longer have it this structural
bias is to the upside you know with the
daily swing so my reversal is gonna be
somewhere in this area so probably this
bar right here of these two bars and I'm
just going to the off side until I hate
maybe this area right here so here is my
next trade and then Karen would we open
a position somewhere here yeah so that's
a tricky one because you've got like
that that bottom bar a kind of pin bar
makes quite a lot of progress and then
closes on itself so well if we open it
up it's probably gonna be the somewhere
here around this bar yeah the only thing
that we have to remember is the launch
so we either gonna have a position
already established so this one
this one this is going to be the third
one
so I mean depending on what's our
intention for this session do we
anticipate the switch from let's say
intraday trader to a swing trade so if
you anticipate some of these positions
might not be closed on their the
reversals here and then you can also
improve your exit by going to a lower
timeframe by the way this one you know
depending on how you're gonna interpret
the lunch you might actually miss and
hopefully you just keep this two
positions but then you know if you
opened it where is where is the exit
exit is gonna be somewhere here and you
steal your bias is still to the upside
and then the next one where is the next
one current yeah so it reverses the last
commitment to the downside and please
note again how nicely we are bouncing
off the support that acted as a
resistance that was created by the pre
market action I mean it's just uncanny
for you mean is sometimes how it works
so well so in here we would be we could
probably you know get out after this bar
right here but haven't looked at how the
price behaves here I probably would
change the timeframe here from this is
five minutes I think you know to a much
larger timeframe maybe like 15 minutes
20 minutes and just you know I would try
to have to take this whole move rather
than just you know be so fragmented here
but if you are then the next point of
entry is probably going to be somewhere
here but again this is a little bit
close to the end but all of this you
know points of entry are acceptable and
they are by all of these rules where
we are opening with an understanding of
the context of what is happening here
attempt to up thrust and then the
reversal we are entering here because we
are touching the support and this is a
potential face see for us so
contextually we're in the correct place
and we have the right call here we are
opening the position after the test was
the daily swing buys to the upside so
the all of our trades are going to be to
the upside rather than to the downside
on this day and note how we just you
know profiting from this definition of
the bias and definition of the structure
when we combine both of them ok great
Karen thank you so much let's let's see
if we have any questions ok CNC Amina
straight 24/7 wouldn't the support
resistance change dynamically how would
we determine the support resistance in
in that case ok Chandra well I kind of
showed you guys what I do was this so
support and resistance definitely change
and you know what I have for myself and
I'm just going to show you like this
layout on trade view so see like for
each trade trading day I define the
resistance and support right away before
this session so look what's happening
let's say what has happened on Thursday
here is the high during the European
session and then they push the price so
low that this was the creation of this
you know Laurie here when we came to
trade at 6:30 we were right here in this
area so there is a lot of potential
to go to the upside basically this is my
target right here for any of the trades
to the upside we are still in the
uptrend the daily swing bars is to the
upside I might be thinking here also in
terms of a small structure so climactic
action automatic rally secondary test
phase a B possibly see maybe some kind
of weird upslope in range so could I
have a sign of strength out of this
possible C and then a backing up action
yeah I can so how do I manage this okay
some supply I need some tests in action
at the high low with the contraction of
the supply which I do have and then I
have the reversal so this is my point of
entry what is my target and I'm entering
here at 27 so what is my target my
target is going to be all this area
right here so maybe this cluster so I
need to see whether at this cluster I'm
gonna reverse or not and I don't see a
big reversal right here
I see the commitment further so I'm
gonna wait to see what kind of bounce
back I'm gonna have I might close the
position here and then reopen it again
but on the higher time frame I might
change the time frame just by based on
how I see the price reacts here so for
instance for me this is not that
acceptable that I if I would open the
position let's say somewhere here I
would have to close it here how can I go
through this area right here in which
time frames so that I wouldn't even get
out of the position so I have to find
the correct time frame let's say I'm
gonna go three times more timeframe
where is it
oh right here this is another cool
feature that I love about trading view I
mean I'm I can just like increase the
size so easily so I'm looking at 15
minutes and the question here is have I
had a reversal no I didn't
so I'm actually you know we talked about
how to define the predominant trend for
the usage of stop-loss right so right
here on this commitment my stop-loss is
gonna move right here and the price is
maybe touching it but it's not
committing below it so 15 minutes is
actually the predominant trend for the
move that I can expect and I can extract
this information even before I enter
this position so once I enter I'm just
using this chart you know to move my
stop loss on based on this time frame so
my first movement is gonna be here on
this bar then here then I might consider
combining these two bars and moving it
here then the next bar because it's such
a big bar I probably would move to this
slightly below 1/2 somewhere here then
the next one is going to be here again
big bar so I could move it here could
move it somewhere here next bar here
next bar here and I'm basically done
right here so this would be the trade
for the day for me on this particular
day from 27 to about 41
so that's 14 full points so that's a
really good move on amoenus and please
note again how did I even think about
this target right here well it's all
because of the pre market activity you
can still use the previous day and
actually I do want to look at that
because in a lot of cases it's gonna
give me of some kind of you know
boundaries so like right here I see that
where the price is making that support I
could also see that maybe somewhere here
I'm gonna have some kind of support in
action the target is going to be just
the colostrum and so on and so forth
so you need to look at pre market
boundaries and also the previous day
another question so if you decided to
convert this to a swing trade would you
move your stop-loss back down okay so
that's a very interesting question and
let's just see if you guys kind of like
caught up with that idea so what do you
think guys this is the 17th should I
open should I keep this intraday entry
and should I switch my whole view to
maybe like a swing trade here what do
you guys think Karen is saying yes
I came in and say no okay Ming why not
why why not what's the logic well I
heard you don't move your stop take
words okay well I mean originally if we
open in a position right here our stop
loss is here right so by the end of the
day let's say right here we can our
decision is basically exit or switch to
a swing trade so you say no and our
stop-loss I mean we if we are exiting we
don't have the stop-loss if we switch
our stop loss should stay here so if we
if we are not gonna do this then it
doesn't matter what we do is the
stop-loss
I mean it's gonna stay at the same
position at the same level so we're not
really putting it lower or we have not
you know moving it up to the unnecessary
place
I mean oh I'm sorry uh yeah your voice
is kind of breaking up he has been doing
that for the last hour I don't know it's
my internet or my voice is breaking out
so I can I didn't hear what you say
sorry I'm sorry guys you should have
told me so the quality of the of the
audio is bad
okay so everybody's okay mean it might
be on your side because everyone else is
saying that everything's okay usually
you know people are really responsive to
that so if you're having the problems or
their problems what I would do is maybe
like log off log in again sometimes that
helps
or maybe just check your speakers or
headset but people are saying that
actually audio is okay all right well
okay yeah try that try that okay so one
of the things okay so another in say yes
until the potential reversal area then
go back to a smaller time frame okay so
in the way we kind of like missing the
whole concept here so I'm glad that you
know this question is coming up let me
let me ask you this let's just go to
another time frame here let me let me
just use this let's put a mini contrary
care okay so here's the chart this
fourth one split it to the daily oh I
have this same picture yeah I didn't
want that
okay hold on a second okay well I just
don't us don't want us to look at this
oh I'll make sure I can I can do this
here yeah it's always good to have like
backups so currently I'm using
TradeStation you know primarily for my
classes for any type of Swain trade in
you know long term I'm using stock
charts as well as kind of like a very
convenient tool and i'm using trade
trading views so it's good to have some
backups and trade in view I have as a
real-time data so that's you know
definitely not an inexpensive way but I
like to have double sources just in case
of something crushes during the day and
I'm in the position I don't want ACK
I mean I can extract the quotes from
anywhere for even from my cellphone but
I really would like to see the visual
picture you know and not delete so you
kind of have to think about this when
you day trade okay so I think that we
are missing the kind of like the concept
here of a switch so how do I install
that why am I forgetting it
so we work here okay so let me add let
me ask you these questions guys
when would you switch show me on this
chart where would you switch from
intraday entry to a swing trade and
maybe this question is gonna kind of
like put that final nail that we need to
about this concept let's try to
participate here you know with I want to
make sure that everyone is understanding
this okay so careless and when the daily
is the reversal bar okay why don't we do
this when the daily is the reversal bar
Karen why don't we identify that
reversal so when was the latest reversal
somewhere in here yeah okay yeah maybe
we could I mean there are quite a few
other not necessarily daily reversals
that we've had on the move to the to the
upside maybe somewhere here on this day
yes that's that was technically maybe
somewhere here on this day yeah the day
that we were looking at was the 17th it
was this day right here okay next
possible reversals here right
then on this day here this day right
here this day this day this day this day
and we can go on and go on and go on
right so think about looking at all of
these traits you know reversals not
rates looking at all of these reversals
imagine that you are first of all your
day trading each day but at certain
spots you decide whether you're gonna
switch your day trading to swing trade
it just because it's gonna be more
profitable so what are those spots so
quran' is very correct we are going to
identify the reversal bars and this is
where we want to convert that day trade
into a swing trade so for instance if we
day trade it on this day and by the end
of the day we are done and we open the
position somewhere here and our original
stop-loss is here based on the reversal
we can leave this position on and we can
exit on the next daily reversal which
will be here so this is the trade that
we would create on the way up we can add
to the position we can scale out and do
a lot of things but primarily you know
your position size is going to be
increased here your risk is going to be
minimal and this is the trade that you
can create this is an enormous trade by
day trading
you know parameters there is a second
rule that we should consider here so the
first one was correct we're looking for
a switch on the reversal bar so
therefore that question current weather
we should open you know a swing trade
keep it as a swing trade here it's kind
of late a little bit too late you see
that yeah yeah it's a little bit too
late
what is another rule for us here to
consider for the switch from the day
trade to the swing trade what do you
guys think what else have we neglect in
here so whenever we talk about the
reversal we are talking about a daily
swing bias what else have we not taken
into consideration move out of the
stepping stones okay how else can we
rephrase this you know in the terms of
what we're talking about what kind of
what other buys can we develop can we
develop a structural bias here right so
we have a swing bias daily swing buys
what about a structural bias so for
instance right here we're thinking that
this could be first and we'll have a
slide on this this particular low this
could be phase B low and therefore the
next bias is gonna be up secondly this
could be phase C and the buys for the
next move is still gonna be up so
therefore this confirms that this switch
could be really profitable and at least
at the minimum where our target is right
here now when we go in into this
situation right here a lot of the
signals could be eliminated how well we
can still definitely have this as a
swing trade but this becomes the change
of character which dictates that we're
going to have some kind of
solid Asian so here we could be just
trading you know on the daily basis we
don't have to trade the swings and we
could just wait until we have a better
indication of phase C which comes right
here so the structural bias here is
gonna confirm that we're gonna go down
daily swing is confirming that we are
gonna go down and therefore our intraday
position could be held as a swing trade
and the first attempt for us to get out
of that on the daily basis is going to
be this bar right here which was
confirmed by this bar right here so here
is a second trade that we can do like
that then we go into the change of
character and we could just day trade
day trade day trade and we could create
a small swing trade right here just
based on the resistance and now known
support and then here we could be
thinking okay what are the scenarios
here we either in phase a and we're
testing the climactic action here we are
in phase B and this is the secondary
test and if this is a test of the
climactic action our structural bias is
up if this is phase B our structural
bias is up and if this is even C hours
bias is still up so in all three
scenarios we are thinking that the price
at least should go into this area and
just retest it so we can create that
swing trade and until we have the
reversal of this swing which we haven't
had you know we are going to continue
with that trade so this trade is still
continuing and it just gives you more
opportunities to add to the position if
you'd like so therefore the switch
between the intraday trade you know the
switch from in the intraday trade to the
swing trade is always going to be on the
reversal bars or some kind of you know
reversal bars after smaller reactions
you know those are also appropriate like
this one right here this one right here
and also structurally we would be
somewhere at the area of this support us
at some area of the resistance that was
created by the structure and we probably
gonna be in phases C or we're gonna be
on the way up in phase D and then we're
gonna have reactions and reversals out
of that does that make sense does that
kind of like simplifies this whole view
you know in terms of where we would make
that switch I probably should have you
know should have created a slide on that
like you know particularly where we are
we are doing this so you want still to
be close to the support resistance you
want a reversal bar and you want
structure so then you can switch it okay
great
I'm glad that we looked at that so now
let's look at the examples of that so
this we looked at okay that's great okay
so where are we 315 okay so we still
have hour and 15 minutes and when we can
stay for Q&A okay let me actually just
skip this for a second and then this
concept on this which is you know we
could look at this really quickly so
it's actually
so this is actually seventh okay so
let's continue with this idea you know
where would we switch from the intraday
trade to the swing trade we're going to
look again at the amines continuous
contract daily is going to be used for
the swing price structure of 30 minutes
for the intraday price structure in
three minutes for the points of entry so
here is that recent situation again if
we're thinking here on the daily by on
the daily basis you know what is
happening in this area of relative to
this low if this is a climax then we're
thinking either that's going to be a
secondary test in phase a or secondary
test in phase B or phase C in all three
cases we are expecting the move to the
resistance area so therefore we are
gonna introduce um where here near the
support and once we have a confirmation
on the daily that we have reversed then
we're going to stay in that trade until
we hit our target or until actual the
reversal happens so let's look at that
okay yeah I'm kind of doing it backwards
a little bit but anyways okay so as we
look into this area right here on the
daily this area in the green box we've
seen some kind of consolidation on the
daily basis so let's look on the
intraday so first move to the downside
change of character secondary test phase
a and then not gonna spend a lot of time
here because we're actually going to do
this next we see phase C here and on the
day this was the day was the potential
change of character and we defined it
and for those of you who attended the
market outlook session we actually kind
of nailed this
we bought we nailed both the climactic
action and the reversal near the support
so this was a change of character on the
intraday and then the next day the
opening of the u.s. session was here so
there was a gap between the clothes and
the opening you know of the u.s. session
next day and this is the action that has
happened in between so the opening
because it opened was the gap it kind of
confirms already that this not just was
a potential change of character but that
it was a change of character and now
we're confirming that so therefore any
of this intraday positions that you're
gonna open if the day is going to be
profitable and it's going to be a
significant bar you can keep those
positions and you can switch to a swing
trade so let's look at the points of
entry so this is a three minute on the
same day and we're looking at the open
in our buys is already up our daily
swing bars is already up just based on
the gap action
and then our structural bias is up based
on the idea and we might be wrong in our
analysis we don't know whether it's
still a B or C phase but in all three
scenarios our structural bias is up so
therefore if we're gonna have a very
good day then you know it doesn't matter
we are still gonna stay in this position
because whatever this is you know BC C
or a we the price still gonna go up so
we are just looking for a reversal to
the upside which comes from this ball
right here it also acts as a change of
character here we enter here was the
stop-loss here we could add to the
position here after 11 o'clock we could
add to the position here as well and by
the end of this session we see on the
daily that this was a really good
trending day this was a reversal day so
again could we open the position how
could we switch to the swing trade yes
we are satisfying the reversal
significant bar it's near support and
structurally we have a bars to the
upside so that was a perfect day and the
perfect introduced to the swing trade
switch okay any last questions or
comments on that switch there is a
reversal bar just before 7:00 would we
ignore it because of the time just
before 7:00 this one yeah we can be
caught up in this absolutely yeah I
actually even did not see that when I
was preparing this slide but you right I
mean you might consider that as a
potential reversal so there might be a
loss here and then you still have to go
in right here it's not necessarily the
largest reaction to the upside
that we see here so this is definitely a
much larger so you can also as a rule on
the entries wait for a change of
character first and then a test
especially with some supply coming in or
another way how to deal with this is I'm
looking at this as a high point for me
right on the swing to the downside and I
see that this has been reversed as well
so I can anticipate that there could be
a fake reversal here so instead of using
three minutes I can go and this was on
12th
instead of three minutes I can try and
use five minutes so let's just see first
twelve yeah but that was that was
February in February 12th rent and
probably should use the TradeStation
would be easier okay so this is much
tense
once turns
okay so we read somewhere here okay so
this is five minutes so let's look how
it done falls in the five minutes here
okay so this was that high and we still
would be reversed right here so even you
know five minutes is not necessarily
enough but see how was five minutes we
already not reverse in here so you just
have to go maybe to a time frame where
you know this reversal is negligent so
let me just do this in a different way
let's go to like fifteenth and let's
change it to ten minutes
and here it is right here this was the
high and here we don't have a reversal
right and here we have a much much
cleaner point of entry right here so I
think that you know 10 minutes is gonna
work out you know much much nicer you
know in this case but your risk isn't a
Christian right here as well because
your point of entry and your stop-loss
are gonna be a you know separated more
yeah all right no worries going okay
great so let's see any other questions
on this switch and a lot of you during
the introduction we have mentioned that
I'm swing trading but you know my swing
trades are somewhat of a shorter term
you know two to three days so therefore
I'm kind of like inclined to look at the
date at the intraday dater you know I'm
also thinking about you know better
interest on the intraday and that's all
relevant you know and the way how you
develop this technique is you have to be
comfortable with the you know intraday
interpretation which is thinking about
particular biases you know on the
specific swings and then how be
comfortable with the conversion to the
swing trade so if we want to add to our
swing positions we have to wait for the
higher time frame structure okay so that
I don't quite understand if you want to
add to our swing positions we have to
wait for the higher time frame structure
actually on the opposite I mean if if we
are looking to let's say that we've
opened we've opened an intraday
position right here and we made a switch
here so now we are in the swing trade
how do we add to that well obviously
we're going to hesitate it here in this
area like we did you know at the market
outlook but then right here if we are
open in a position on this day on the
intraday that would be an additional
position and our stop loss is going to
be somewhere here so we just added after
another reaction we are opening intraday
position here and we're just moving the
stop-loss right here and so on so forth
so I mean you could actually you know
develop a case where you intraday trade
on any significant bar and you keep that
position on intraday trade keep the
position on and stop what end you just
moving the stop-loss keep the position
on move the stop loss and so on and so
forth until the stop-loss hits here and
in this case it's gonna take a while and
probably it's gonna start hitting you
and you know somewhere here you're gonna
start thinking change of character so on
the contrary instead of going to a high
time frame you know to have a much
larger size on the swing trade you want
to go to the lower time frame and day
trade the days that are gonna become
significant days and then keep those
positions and that's gonna increase your
size yeah was that what you were asking
Coran yeah okay okay let's come back
okay another question could we switch
intraday positions based on daily VP -
yeah that's an interesting question um I
kind of was thinking about this as I was
preparing this material and you could
see that
not really using a lot of volume on the
intraday and that just because and look
at this let's just go to maybe like 15
minutes in a lot of cases we're gonna
misinterpret the volume they're just
gonna be the case I did I don't really
see a lot a lot of kind of like
clear-cut value here but definitely
there is a lot I mean when you have a
situation like this when you're
comparing the effort okay so this is
effort this is for it versus this result
in this result you obviously see that
there's going to be a continuation but
how about this you know we have one bar
at the opening that has the largest
volume and then we are moving to the
upside but the volume is contracting so
what does it mean should we is this an
ease of movement or is this just a
function of opening volume versus just
you know a regular volume between you
know like 6:30 and 9:00 o'clock having
said that I mean I encourage you to use
the volume signature you know um and to
develop that understanding probably at
some point you know we'll we'll dive
into that but you know for this session
I kind of wanted to concentrate on much
more you know consistent tools rather
than inconsistent tools and carry on a
sentiment using the volume on the daily
chart okay yeah
well that for sure yeah so this we want
to use as much
possible and you can use the BPA
features like you know I'm like an HDS
eye right now you know they're vpa
features some of the catchers that they
had very simply just like you know kind
of pleasantly surprised me so you can
use that and definitely the volume
analysis that we do on the weekly basis
yeah that should be done do you switch
swing back to the intraday for exit
that's a very interesting question so
one of the things to consider you know
when we are close to the end of this
swing is to switch from the high
timeframe to the law timeframe for a
better exit and that's a very very good
idea and we've developed that in the
advanced work of course we've talked
about this for years the problem is is
understanding of where that switch from
high timeframe to lower timeframe should
happen why well because you know you
kind of have to identify that there is a
potential end of the move so whenever
you are in the range it's kind of easier
so let's say that you develop the swing
trade right here you know that it's
going to be a very small swing trade
because you're in the in the structure
here and you might have potential one
more move to the upside before we go to
the downside just based on the idea of
the structural analysis right here so
how to identify where the price is going
to start traversing you can use
different concepts one of the things
easiest things is just to think in the
trading range everything is going to be
bound by the support and resistance so
here I'm putting the slope and
resistance so therefore when I have the
touch I'm looking for any type of the
reversals so let's say near
resistance look for reversals how would
this reversal come about well usually
everything starts was the change of
character so on the lower timeframe
you're going to be looking for the
change of character somewhere here
actually it's gonna happen right here
first and then you're gonna try to get
out on the way up after that change of
character and that's basically what the
only thing that you can do so use your
support resistance and stargates use
your structural understanding as
understanding of whether this is going
to be a big move or whether it's gonna
be a smaller move use the swing reversal
use the change of character but you know
if you could identify that we are close
to the end of the move like right here I
mean this bar is the biggest bar out of
all of the bars that were going down so
is this a climactic bar yes so if this
is a climactic part can I go to a lower
timeframe and exit there the same was
here was this bar right here now let me
just show you how you would do that so
this was August 24th 15
okay so here is this climactic action so
um do you are in this was it what the
day yes 24th so as you start to
recognize you know during this day
during previous day and then during the
Asian and European sessions that we are
going to have that climactic action you
want to get out at the much better rate
than just a reversal let's say on the
daily
you can't potentially recognize
climactic action change of character and
then get out on the way down that's a
possibility as well but how aggressive
this is gonna be I mean this is like 100
points so you don't want to miss that
type of chunk you know and what if it's
gonna go even further so you looking at
the previous swing to the downside and
you're trying to find the best time
frame where a predominant trend is not
going to be you know reversed and you're
primarily looking at this previous swing
to the downside so 15 minutes work works
okay but maybe 10 minutes would work as
well too and 10 minutes is not gonna
work so um I think that maybe 10 15
minutes would work or you can start this
session like you're starting in here at
6:30 right here and you can look at this
move because this was the move that
actually preceded so this was a move
prior so you already have a lot of you
know European session moving the price
down so you actually have to look at
this one there is a little bit of the
reversal right here but everything else
looks okay so 10 minutes would be
actually quite fine you can actually go
back into five minutes and just see
what if you know five minutes would that
work actually five minutes would work
well as well except for this reversal
right here
everything else was okay this was not
reversed this was not reversed and then
you would go and this is one half so by
the close of this bar here is your
reversal so this is probably one of the
smallest time frames where you could um
within the contextual understanding that
we might be experiencing the climactic
action you want to get out as soon as
possible
actually I've traded quite a few market
climactic actions those are a lot of fun
but you have to be a really quick and
you have to use much much smaller time
frame so you could get out at 18 what
1835 maybe instead of waiting for the
change of character and getting out
somewhere above 1900 you can also use
just this swing to the downside if
you're recognizing that this is the
climactic action and this is a big if
you know because if it's not the
climactic action then you might be wrong
there and you can go to a smaller time
frame just for this swing and we see
that five minutes worked well but you
can also go to a smaller one and even
though the three minutes you can do it
at the much smaller time frame I think
that even one minute is going to be okay
here
what is this the one
okay yeah even one minute is actually
fine you know looking at the last swing
again you have to recognize that this is
this is a climactic action so you're
going one by one with the significant
bars and this bar right here is a change
of character so your exit is going to be
even prior to that so yeah you can do
that but you have to be correct on your
assessment of the structure and if
you're not then you know most likely
you're probably gonna end up closing the
position either to prematurely or you
know too late okay good questions how
we're doing on time so we like 15
minutes away that's great so let's start
the next portion of our workshop and
guys let me know if you want to have
like a five minute break that's fine but
if not then we can just continue
okay everybody seems to be okay was that
Oh a five-minute break okay yeah
absolutely
so let's and then I'm thinking you know
mm mm five-minute break what should i do
should I send a new link or should I
could we use the old one let me just see
what's happening there was the link
before you go guys okay you know what
why don't we do this why don't we go on
the break but I'm not gonna stop the
recording or I'm gonna stop and then I'm
gonna restart it and we're gonna use the
same session yeah why don't we do that
so let's have five minute break let's
come back at 3:45 and we're just gonna
have you you know the recording going on
and that's it all right thank you
okay guys I'm back let me know if you're
ready all right
well I guess what can go yeah okay so
here is an exercise that we're gonna do
and this exercise again it's going to be
based on amines
we kind of in the same situation right
here with this trading range and we
looked at this trading range but I want
to do this a little bit as an exercise
kind of like to develop this nonlinear
understanding of you know what we can do
during the particular intraday session
in this structure that is much more
complex than just like one day so again
you know give me your name for
volunteering you know and I'll unmute
you and while you're doing that let's
just you know let me just kind of like
refresh your memory here so a point
number one right here we are thinking
about all of the potential scenarios
here secondary test and phase a
secondary test and fizz be in phase B or
could this be a phase C now all three
scenarios suggest that we're going to go
up and we're gonna retest so we want to
look into this structure right here and
we want to go day by day and see what
kind of trades potentially wheeled we're
gonna encounter and we could potentially
have okay so volunteer please
okay Karen let's go
yeah no reason to wait for anyone else
okay so here's our first day and this a
is gonna be this big day right here you
know with this tail this is where we are
in this is 30 minutes amoenus and this
is our us session well first of all
let's just think what kind of daily
swing buys did we have coming into this
session yes so our buys was down
so our intraday trades primarily gonna
be oriented to the downside we would be
looking to enter to the downside and
here I see two trades one and then two
and we probably not gonna catch this
move to the off-site if we're thinking
about just you know one buys to the to
the downside we might have a very light
position to the upside but we might not
even even think about you know this you
know this type of trade okay so but this
move to the upside from 1 to 2 what is
it I mean how how can we interpret that
and how could we label that yes from
recent hi we have in the largest
reaction to the upside spread is
increasing and it's a definite change of
character if this is a change of
character rally then what is one and
what is two so one of the is selling
quantum axon to be automatically okay so
we are adding the contextual
interpretation to the data here that we
are receiving in then point number three
just secondary test right away
could we put the boundaries for the for
the trading range yes from a line from
one in 11 to okay so here we are
we ended up our session we
to profitable trades here to the
downside just based on the buys
what is our intraday buys for the next
day based on the why calf labeling that
we've done what should be what should
the price
what could the price do here at this one
so if it reverses this downswing which I
don't think it's done yet okay
so let's say that the price goes down
what happens next we would expect it to
test that support and then go up to
existence okay so some kind of reversal
here so this could be a trait for us if
it happens during the us session because
we only trade the u.s. session right
yeah okay what else could happen could
the price go up could go up from here
yes aha and then would it reverse near
the resistance yes second retest so yeah
right so that would be you know testing
me yeah so something like this up thrust
action or a test in B and here a
secondary test and B so let me just not
put the secondary test here but just up
thrust and B so again these are two
possibilities that we may have if it
happens during the u.s. session so we
might have a situation when the price
goes up such as the resistance reverses
and this reversal is going to be an
indication for us to establish you know
position to the downside and we can do
this because the daily swing buys it to
the downside and then intraday swing
buys is to the downside as well near the
support because of the contextual
interpretation of this is a secondary
test in potential phase B we know that
from here the price is going to have a
bias to the upside so therefore we might
also open a position here near the
support okay great let's see what has
happened
okay so that was actually all I see
while I'm doing this okay this is what
happens next day so this rally right
here is the end of this rally yeah and
then we go in into the Asian session
right here here is the Asian session
then we're going into the London session
right here at the top and then we're
stuck in the u.s. session right here so
let's look what has happened in the
pre-market activity first of all we've
talked about two scenarios one was
involving the resistance right here and
one was involving the support so we'll
come back to the support here but here
at the resistance we are trying to
obstruct failing we are up thrust in
kind of like an abstraction we are
reversing right here if we trade them
during London sessions this is our point
of entry would you say or another
attempt to go up another failure and
then probably somewhere here another
point of entry now our at that time at
this time when we open in this positions
Karen what do you think our target will
be back down to the base of the trench
character to the yes anyway max
somewhere here I was thinking lower well
this is the prettiman is there right so
fine but at this point of entry the
boundaries for the pre-market action is
going to be like this yeah this is gonna
be our target so somewhere here we would
be looking to exit or some kind of
reversal price goes down even lower
there is no reversal so I mean we're
still going to be in this move right
here then it doesn't Traverse on the
next bar tries to go up and the reverse
is finally right here
at the beginning of the u.s. session so
at the beginning of the u.s. session
where are we well with Anna
we are to support so that's great
anything around support and with the
reversal characteristic we want to
consider as a buy but what is the
structural buys for us right now so
that's a boy the intraday structural is
a buy is up but the daily is still down
yeah and the daily swing buys is down
but because this structure you know
dominates the daily swings
you know on the intraday we we could
easily have this trade and open a full
size position here so it happens near
the support perfect structural position
for us so we open the trade on the
reversal and we continue with this trade
we're moving the stop-loss like this
maybe there's this we might get out here
or we might just you know wait for the
confirmation again after us happens
again which phase are we in here in the
up forest at least be yeah it's lisby or
we are possibly in see in both scenarios
what kind of wise are we expecting for
the next month the damn boys you know
the down bars you know because if we are
in accumulation in be or let's say
distribution in see in both cases we're
gonna see some kind of movement to the
downside so we can actually open a
position to the downside on the reverse
and after you know resistance by the way
by this point of time when we came to
the US session and we had this first
successful trade our pre market
boundaries were defined by this point
and then by this point right here and
look how nicely we're just hitting it
it's just amazing how sometimes it just
works like to the lost you know
point right there okay so the reversal
is gonna happen on this bar and we're
gonna go short and then we probably
going to exit somewhere here so that's
our next trade we might miss the trade
to the upside right here because we're
kind of like not anywhere near the
support we might consider because just
of the bias more to the downside short
it again
so maybe somewhere here after this
failure and then we're probably gonna
get out somewhere here can we open the
position current to the upside right
here we can yeah yeah we are somewhat
close to the support level this is a
slightly higher low we're still thinking
whether we are in B or whether we are in
C you know in both cases the price is
gonna go up so somewhere here on the
reversal we can open the position and
again our target is going to be all this
and it comes and it reverses again and
here already too late to opening in your
position so if we're just intraday
trading we are gonna just you know close
the positions in your positions that
we've had and not open so and this is
you know with the reversals happen and
we're potential points of entry are
possible okay so currently we have this
picture this long-term intraday picture
on 30 minutes and we're entering on five
minutes so how can we interpret what is
the current daily buys I'm gonna give
you a clue here thank you this was day
number one day number two three four so
until day number five we don't have any
change of confirmed change of character
so it's all gonna be down down down
and then potential change of character
and then confirmation yeah yeah so it's
gotta be down down down okay so how do
we so this is down how do we interpret
points number one two and three and how
can we label those we already know what
has happened here so that gives us a lot
of clues as to what's going to happen
here so these are it's gonna say they're
all tests and B but two others in fact
goes out goes back to the trading range
goes up goes back to the trading range
yeah I wonder whether two could be faced
see but that would make really small
exactly and see now we're thinking here
you know if we're thinking this is C
then B is really small and we don't like
that B is smaller than a so we probably
still in B here we want to develop B
that's gonna you know at least exceed
phase a right here
all right maybe like by a factor of two
so if we're still in B then point number
two is what thrust and then one and
three tests yeah secondary tests in
phase so what can we expect from here I
guess I guess would wait to see what
happens in this little trading
arrangements warning and if it breaks up
then maybe we could expect an up sloping
trading range if it breaks down and
another test it's a support yeah if the
price goes and reverses near the
resistance and that happens during the
u.s. session then we could short this
because we are still in phase B right
then the buyers would be to the downside
if we're going down here in retesting
the support then this still could be a
secondary test
and therefore we might trade to the
upside or this could be a potential face
see and we're still going to be trading
to the upside so depending on where
we're going to end up before the u.s.
session we could figure out you know
what's gonna happen next
Oh at least you know give us some kind
of you know heavy advise to one way or
another okay so here's what has been
happening we were where were we we were
somewhere here like in the middle of the
range and then it goes up and it creates
this type of pre market you know
boundary right here and then we start
right here that's so good
yeah this is a little bit not a
convenient place because we're in the
middle here so we're not necessarily
close to any resistance or any support
we might just open lightly here I think
I put a point of entry right here on the
next slide but you know it's not
necessarily going to be the greatest
point for us unless you know we are
going to continuation to the upside we
might be thinking here and I'm just
thinking out well that was this type of
move to the upside there is a lot of
push to the upside so we might actually
consider this signal as the continuation
of that potential push okay okay how
about next well next one is kind of
obvious right so we are up thrusting and
the reverse and so this trade you know
we could you know we could consider this
is the first target this is the second
target would you wait for tested theater
stool would you just enter on the
reversal I wouldn't on the reverse you
know because you still you're thinking
about nine o'clock that there's going to
be some kind of you know slowing down
so the volatility moves are gonna happen
before nine and see how you know we kind
of knew like not doing anything with
this period so you wanna you wanna
capitalize on this move with this target
right here and that's enough target here
so sixty-seven to about fifty four
that's more than ten points and usually
whenever you have a 10-point move in the
meanness that's a good move yeah so move
to the downside you might consider again
you know kind of like if you've seen
this but then again at nine o'clock you
you don't want to you know initiate any
extra positions and then once you hit
eleven somewhere here then in this area
you you definitely can open the position
you had one failure second failure third
failure right here and after eleven
you're most likely gonna have a
continuation of those failures so open
in here maybe somewhere here and going
just into the clubs so let's see how I
interpreted that okay for some reason I
put all all of this I probably should
not do that let me just do this let me
get rid of this one and this one let's
just have one bias here to the downside
okay and that confirms both device to
the structural bars that we have based
on the intraday structure and also it
confirms the daily swing bias okay
next chart so this is the action that
we've had during this session and we've
seen that this was just another up
throws the price came back to the
trading range and came down so how would
we label let's say let's not say go for
it number one let's label point number
two and possibly let's talk about number
three okay so two is another up first
and it's still a bit tight to being
Pacey so yeah but we're definitely
moving down right so it's like there is
some kind of movement closer to the
support area so if this is accumulation
then we would be expecting phase C maybe
something like that and then you know
the price going up so that would be the
most preferred scenario so we have to
see where we are going to be at the
beginning of the us session please note
guys that we are so limited as day
traders you know as to when we trade and
in a way what we trade right because as
we're looking let's say a big move has
happened here relatively good moves here
for the intraday but then what kind of
moves do we have here okay well maybe
this to most maybe one move to the
downside and you kind of have to
interpret it within the larger structure
of what is happening here maybe two
moves but not a big move by the way
probably here again in the Optra
situation we could extend this trade to
the support level but then again you
don't know whether it's gonna go there
or whether it's gonna reverse and try to
up thrust again so you kind of taken
that risk okay let's see where we are
before the u.s. session so we were we
were consolidating right here and then I
see that we actually went lower and
below the support so this was probably
somewhere at the long-term support right
here from the previous chart London
session again is pushing the prices down
so sometimes you know you you really
have to understand
you know what session is doing what
where is that effort coming from and we
see that the boundaries were created by
you know this action here and this
action right here coming in at 6:30 we
we just had this move to the touch of
the support so basically all of it is
just support level just a huge big
support level right here
and we're coming out of that is it
possible do you think you're in for us
to open a position right here at the
beginning of the session might consider
it's too late but if we see that as a
structures and that could be some kind
of backing up action and coming out of
it so yeah yes I was thinking the same
way so phase a C and then we're kind of
like coming out you know we could use
maybe a slope right here and we have
relatively enough target movement you
know to eighteen forty here from 1820 so
that's twenty points we definitely can
participate in that enough room for that
and we would be getting in somewhere
here and we would be getting in probably
somewhere in this area right here so
that would be a really quick trade and
we would be thinking that was this face
C or should we expect during the u.s.
session you know us traders create in
its own kind of like face he usually
usually when we have let's say kind of
like a move like this in London session
us traders are gonna try to push it down
to accumulate here and then push it in
the direction of the London session why
well because they want to get in at the
best price they want to get in at the
price than what it is right now so there
could be some fake moves at the
beginning of the session
okay so then we might miss this
opportunity right here because we're not
really you know close to the resistance
but we're definitely heating a support
right here we're gonna support right
here and we're thinking that this is
phase C you know on the larger intraday
structure you know the one that we
anticipated so what is our buys here so
the daily swing buys is to the downside
Karen what is our our you know
structural intraday bias yeah we need
support and we are in the potential
phase C so it's gonna be up so we're
looking for any of the trades near the
support area that are gonna have some
kind of reversal so here is our first
reversal here is our second reversal
right here we could take both and at the
end of this day this is how it looks
right here so what do we see here bounce
of the support tail for the daily spread
right here which shows some demand
coming in we see that in the volume
signatures of both supply and demand
increasing and I would say that supply
and demand somewhat equals so we're
looking for a confirmation on the next
bar that that indeed was a change of
character and this is going to be a
reversal so with that understanding
let's look at the intraday structure of
what has happened and I've listed you
know potential reversals here here is
the intraday structure now so how would
we live a 1 & 2 gonna be Springs and if
I see spring and then 2 is what
the spring test of this spring okay and
if this is C then what do you expect
what do we expect next day I mean what
kind of resistance okay so let's start
with the intraday structural bias for
the next thing up okay how this one is
gonna be a little bit trickier daily
swing bars what do you think it's gonna
be technically it's still down but you
couldn't put that is changing so at the
beginning of this session we probably
still down because we need a closed as a
confirmation on the daily that it's
going to be up but if we are trading
intraday and imagine if we are open in
position at the beginning of the session
and then by the end of the session we
already have a closed on the significant
bar that day then we kind of would waste
that opportunity so we want to trade in
the potential directional a daily swing
bias which if closes as significant bar
the bias is up so we want to be
aggressive on the way to the upside if
we have confirmation signals and we see
that at the end of the session on the
potential phase see here in the sprint
the Asian session and London session
actually gives us a gap before the u.s.
session this is the gap right here
so does that confirm that the daily
swing might be you know switching from
down to up by the end of the u.s.
session yeah especially if it doesn't
try to fill the gap too hard and yeah
okay so we are coming in with a very
heavy daily swing bias potentially up
and then intraday swing by is based on
the structure is definitely up okay so
what would be our you know a points of
entry here I am during the urs session
so first change sometimes you know you
still have to use this then it looks
good
that's know sometimes you know the highs
of the previous sessions I actually you
know quite important if you see that the
price is just like you know respecting
it you know most likely I mean where the
traders are gonna take that say they're
gonna take this to the area where there
was selling buying selling so sell in
selling then buying them buy something
like that okay great so somewhere here
our first entry and then what does the
price do near the resistance right
commits above it stays above it right
and then we are coming back slightly
below but then on the higher law on the
test here we're just like so good we're
just basically bouncing into into the
support which acted as a resistance
which is a really good strong sign based
on the pre-market you know boundaries
that we've created okay great so would
we open a position here as well that's
really interesting after 11 our
boundaries for nine to 11 is this and we
just like you know trying to get above
by the end of the day on the daily it
confirms that this was a reversal if the
reversal day plus we have the daily
structure is telling us that we are
either in secondary test second it says
it see the secondary test in a B or just
face C in all of these scenarios the
bias is what that's up up
okay so reversal they first time when we
de trade it could we leave it and switch
it to the date to the swing trade yes
yes and let me show you guys so that
everybody would follow this of where we
are on the daily we are basically were
trading this day right here and we are
at the close so here again you know this
switch might switch from just intraday
trading to a potential higher target
based on a larger structure and based on
the swing reversal so with our two
entries on that day which we have the we
would have two interest there and still
be okay yes yes so good we have our stop
loss under the second entry yeah I would
you know in this cases what they're
usually and I you my preference is
usually just load up here and if to see
how I'm gonna finish the day and make a
decision here but if you're scaling in
in your skill in you know position
number one here position number two here
what I would do is I would just keep the
stop loss for each of them okay and
because if I'm hit was the first last
one in first one out you know I still
have a profitable you know second
position and unless something I see that
I need to close the position you know
this still could work out so okay you
could
okay and then this is where we are you
know with the whole structure and see
how again us sessions are so limiting in
terms of what we can do here so this was
a great trade to the downside if we
understand the structural content
context and it was in during London this
was a good trait also you know within
the context of where we were this was a
perfect trade you know initiated in
London session London London then this
even this move right here is also a
little bit telling because you know we
reversed on this bar right here so we
probably gonna continue so this also
could be could have been interpreted
much much better and then here is
another London push you know so European
sessions were leading here asked to you
know the directional bars both
structural and the daily swim so it's
just amazing how it just happens like
that so on that last day where we had
our two entries when we look at it on
their 30-minute we actually look like
we're close to assistance now so would
that be a reason not to enter you know
in the resistance we would have to
consider the whole cluster here
obviously and then this also becomes a
cluster right because we have up first
we have up thrust we have automatic
rally all three points are creating that
chorister so this was an easy entry
right here this was an additional entry
so we're still before the first
resistance so I wouldn't worry about
that especially on the day that is
finishing like this you know and it has
just like a big big bar after their day
like this so that's just such a
confirmation that we've overcome that
we've
reversed and plus it so early it's the
first reversal it's like the price
really should not go back that much
right here but if it does well then it's
just a loss yeah but in a lot of cases I
mean if you look at the daily you know
it's gonna work out so nicely you know
whenever we have that so reversal
continuation or continuation even more
again at the correct structure of the
places right through versal and then we
have such a great trade right there all
right okay guys
questions let's see if we have any
questions any comments I know it's a lot
of material and for some of you you know
there could be if this feeling that well
I didn't look at the market this way you
know this is something maybe a a little
bit new you know even though the
concepts seem similar but the way how we
approach intraday trading is distinctly
different than the one then the swing
trades that we've been discussing for so
long so there might be some kind of like
you know even resistance that you know
you feel inside or some hesitation so
what I would suggest and you know I'm
done with all of the material and we're
gonna go into the Q&A session right now
what I would suggest is you know dawn
rush with any assumptions you know let
it kind of like make it like you know be
there in your mind and think about this
right come back to the recordings watch
them again maybe like in the week or two
or even in the months in this recordings
are all going to be posted you know in a
week on our website so
think about this and think about how you
can use this in your own trading
how can you for instance if you're
looking for that intraday entry points
you know what are the spots that you're
going to be looking for to intraday
trait that are based on the daily our
swing you know we kind of identify
identify those places where the tray
this type of trades are going to be most
beneficial so you have to be near the
support and you know the resistance you
have to have a confirmed reversal and
your preference would be to anticipate
this reversal they trade it and then
leave it on once you have a confirmation
by the clothes anticipate they traded
leave it once you have a confirmation
buy the clothes and of course you need
to understand the structural scenarios
right here so here it was you know more
evident that was face see here I was
making a mistake there you know in terms
of what phase it was but I was not
making a mistake in terms of what kind
of swing I'm gonna anticipate here so I
might be wrong in my analysis on I might
be confused with their analysis you know
structural analysis but I know what kind
of swing I'm gonna expect and that's
what you're gonna use as a trader
and when you identify this type of spots
that's when you're gonna switch
everything else you know anything in
between like you know trade in this area
right here or trade in this area right
here you're just basically trading it as
as usual and you basically you know
defining the swing by so let's say swing
by is here is going to the downside so
the majority of your trades
gonna be to the downside then you have
the reversal so the majority of your
trades are going to be to the upside and
I buy the trades I mean intraday trades
then you wait for the reversal in you do
the same over and over and over until
structurally it gives you a much better
sense of leaving the trading range and
then from time to time you're gonna have
something like this where you are
intraday trade and you see a reversal
within the trading range and then you're
just going to continue with that trade
until you have some kind of change of
character right there and those trades
are going to be a small swing trades
like two three days and you're out just
because of the function of how trading
range is bound by the resistance and in
the support yeah okay sounds good let's
do our Q&A session and let's see what
kind of questions you guys are going to
come up with okay question number one
can we look at how you would mark
support resistance for Forex yes of
course now for X is going to be somewhat
different and I think I know what what
you want to look at you want to look at
that pre market activity right so now
with Forex we are going to have a
slightly different picture and this is
why we you know it's going to be a
somewhat challenging you know talking
about different markets and I'm
fortunate that you know I'm I love
trading and I've traded a lot and I've
traded you know different markets so
therefore
[Music]
I can go from instrument to instrument
and discuss it like that
okay so I put here both the euro and the
pound but let's look at this question
first so let's maybe a poet like what 30
minutes okay and right here if you're
gonna use the same principle as to you
know let's look at the pre-market
activity you will be thinking about pre
market activity of relative to your
market right so for instance if we are
in the US I would be thinking about like
from 6 to about 1 o'clock so here is
this US session but you could already
see that the majority of the move
happened during the London session right
here an Asian session here was actually
inconsequential then here we have more
to the upside in the u.s. less so in
London US London both sessions are
really narrow London us so our goal is
date raisers of course to be in the most
like this and this is news related
obviously and news related to the US you
kind of expect the volatility in the
u.s. session to increase because of that
news but everything else is just going
to be driven by the trends that have
been established but by big institutions
so in forex I actually did not find I
found
the majority of the moves that I was
interested in actually happened during
the London session so that's why I was
trading you know starting from like 10
p.m. 11 p.m.
depending on you know the time of the
year and I was just you know trying to
beat you there during this time so you
have to account for that you know and
based on that your support resistance
powder is there gonna look different
than in minutes I think that Amin is
pre-market boundaries work extremely
well because it's a heavily oriented US
market rather than you know forex market
where you know London session is
extremely crucial this is where a lot of
forex exchange transactions are
happening during that time so I would I
would not really put any boundaries you
know just based on the previous activity
so therefore how do you deal with this
whole thing you know can you still have
some kind of boundaries you can do the
different session boundaries and you can
experiment with that I usually would
have the daily boundaries and some
slight interpretation on the session
boundaries so what do I mean by that so
I would just take one day and this was
an extreme day so let's not use that so
let's say 3:11 so here's the boundary
for this day right here and then I would
look into the boundaries for each
session so I actually let me just
increase that
okay so here is the whole day 3 11
through 13 and then you would actually
look well you want to look at the
previous close um so you would look at
mrs. Asian session right here and it
goes up to here so I still would use
especially with London session a
breakout out of the asian session so
that signal is actually quite nice and
it could be quite consistent for the
london session and then when you go to
to the US session you still want to
understand what different sessions have
done so here we are at the open right
here and you kind of like in the middle
of the London session so you had the
reversal probably a continuation to the
first target and then you have this
second target right here so you you you
can see how I'm using this as a target
potential of where the price can go and
you could see where the first hesitation
occurred and that occurred near the
London session so if somebody in London
was selling at this point right here
they're gonna still you know have the
same bias to the downside as the price
comes in here or they can just start
closing the position and that would move
the price up so I would say that please
experiment you know use the same
concepts but experiment in terms of you
know for Forex is going to be a little
bit more specific you know to that
market rather than like the amoenus and
for us I hope that you know that makes
sense and you know I kind of answering
the question that you have
all right next question please explain
the reversal bar entry a bit more okay
means so we will be discussing this in
during April
so I mean I can't go into that but there
are some details of that particular
concept that we need to stop and just
kind of like you know go more through
this because there are some combinations
that you can have with some of the bars
and then I also go into the time and
price stop-loss and how we could use
those to time stock losses so it would
require like a whole session to go
through that so why don't we just wait
until April to do that is that okay with
you okay so while I'm inserting well I'm
waiting for the answer from me and let's
go to Kieran okay so could we have a
quick look at the instrument selection
for both Forex and indexes but it's okay
yeah so this is something that you know
we were intending to do so for the Forex
you really have to think about
correlations there are websites that
given you correlations for the past
period it's like they would give you the
correlation for the last week last day
left months and usually the highly
correlated instruments like euro and
pound against the US dollar and you see
here how the moves are really correlated
so much right usually they are they are
going to change that correlation from
time to time so you want to follow that
up another way to fall
this correlation is just look at the
chart and visually you know see whether
there is a correlation here so I see
that there is a move to the downside
here I see that there is a move to the
downside here in Europe so I see the
correlation so I'm gonna be thinking
about the comparative analysis and the
strength and weakness before any type of
entry points so for instance where
during this session in the US and I'm
seeing a structure here and I'm seeing a
sloping down structure so this looks
weaker so therefore my inclination would
be to if everything is based on the
upward movement and we have the daily
swing to the upside and we have the
intraday structural bias also to the
upside based on phase see here then we
could open the position in the
instrument that is stronger then the
correlated instrument so euro is euros
behaving much stronger intraday and on
the daily basis lately
so therefore you know my preference
would be to come in and to open a
position in Europe and I think that you
know comparatively we see that it's a
much better move so first move to the
upside is much stronger then the next
bar is stronger as well we have you know
a close below the previous day's close
the arm sorry the bar close then the
next two bars is to the upside and they
are making actually new high so also
stronger here this movement is already
somewhat limited and then after that
[Music]
we're seeing still some strength here
but this move is actually no it's
actually good look at this move right
here
relative to this high which is here
right here and look at this move we had
definitely comparatively traveling much
more on this move to the upside again
here okay so here is the low here's the
reaction Oh low and here is a move to
the upside okay so this corresponds to
this so and then after that something
changes right so um and this is a very
frequent occurrence of this we're still
looking at highly correlated instruments
but you know within the intraday
structure this strengths and weakness
can change so quickly and this is very
specific to Forex I don't have the
explanation of why this happens there
might be some importers exporters that
coming in during this period right here
and they're like I needed to buy pounds
and I have US dollars so they're gonna
just start by and without even thinking
or you know the structure anything like
this they just need to buy a pound so
therefore they can push the price like
that or another situation in a highly
correlated occurrences big institutions
are gonna see undervalue by one currency
and they might start pushing it up you
know to have the parity with another one
but the key for us technical traders is
just to identify that change so this is
a different behavior than this so
therefore we would be thinking about
first exiting here secondly this is a
continuation trade right here after the
reaction so we might establish a
position right here so then this is how
we would be constantly looking at both
of the currencies and we would be
comparing
you know all of the swings to the upside
downside and we would be based in our
selection based on how this strength and
weakness changes very similar to stocks
I mean we look through that screen where
I had the cues and three stocks and we
would be looking at how that strength
and weakness interact you know on the
price basis and we would pick a specific
stock because it was either
outperforming or underperforming here
the same idea and we're just trying to
get into the stock on the long side that
is stronger and then once it changes we
want to buy another stock that I'm not
the stock currency that is at that
moment a stronger currency okay so this
same four indices alright so we're gonna
have let me do this so we're gonna have
Q's we're gonna have Russell we're gonna
have don't look up okay let's look at
diamonds and let's look at kqs diamonds
spiders okay and now I'm gonna change it
to let's say five minutes
so even in today's action I think maybe
like yesterday was bad doesn't matter so
the bias is all to the upside
and I'm just using here the ETF's but
basically you can go to the futures and
have the same thing in that that's my
preference just to look at the futures
and I just you know convert that to the
stock screen so you're basically doing
the same thing as we did with stocks you
want to see what kind of opening you're
gonna have what is stronger what is
weaker at this opening so we see that
Nasdaq 100 is opening to the downside
where as Russell is actually having a
much better opening down dust drill is
having a better opening then queues and
then spiders is having you know the
worst opening so this is the strongest
at the opening so you might as well
establish the position just depending
and you know on the structure so you
would have to go back and here you see
that there is a continuation of the
transia might as well just open on the
continuation or you might wait for the
first 30 minutes and then just to see
what the price is doing in this move to
the upside again on the comparative
basis is much better than let's say this
morph right here where we're going to
now in the clock okay or this one or
this one so there is more room for us to
operate here as day traders and then
during the session you might as well you
know just think in terms of the price
reversals and then comparing to the
indexes that are maybe exhibiting some
weakness or more weakness so for
instance if I'm looking at the spiders
and I'm looking for some reversals so
for instance reversal right here to the
downside so that happens on
at 8:25 so where are we at 8:25 on
everything else I see that with Russell
we're still relatively strong we are
above our opening so I don't want to
short this and that was a good decision
because what am i doing if I'm gonna
short here if I'm identifying this as a
potential reversal yes there is
something for me to go down but because
it's so strong it's being supported I'm
not gonna have a big movement now
another eight twenty five so we are
somewhere here and we're here we've seen
that this the Dow is also stronger than
the Spyders so there is no reason
yet at least you know to short and the
Q's also came up to the opening right
here actually kind of like the same area
okay let me see okay so this is where we
are actually getting the signal for the
spiders like right here in this area so
we might consider opening a short
position here after the failure so again
at this point you would be looking at
what is drawn what is weak and actually
spiders is weaker than anything that we
see on this chart so um we're gonna open
up a position in spires and just you
know close it somewhere here on the
reversal even though it seems like
queues were much better trade to the
downside here but you know structurally
and comparatively spiders still had a
higher probability that was going to
outperform to that
outside so it's the same type of
analysis that you're gonna do on the
intraday basis with stocks currencies
and with indices index futures okay so
I'm glad that we've covered that so
let's let's go to the next question what
about choosing what to trade when
considering non-correlated instruments
we just basing it on daily structure and
bias and for hours 13 minutes structure
and the bias yes
so we basically let's say give me some
kind of currency and maybe for us to
consider that is not going to be a you
know highly correlated to anything else
so we're looking at the New Zealand
dollar and we would be doing our
analysis and as we do it usually so we
would look at the long-term structure
this reminds me of Euro right right here
this tip information only there is more
up thrust action first move second move
we are in some kind of consolidation so
for us the long-term structural bias is
to sideways we would look into the
structure and create the bias based on
that structure so we would go into the
daily stop in action and we probably
yeah by the way did we have a change of
character on the long-term
yeah this rally right here looks like a
change of character so we might be here
for some time and we might attempt
actually to go up at this point we have
broken the trend here in this area so um
we might have some kind of up bars at
this point and I'm looking at this as a
climactic action swing up swing up swing
up so you could put either phase a like
this or like this so depending on how
you do this
now we'll do it like that probably okay
yeah first phase eight here maybe be
either B or C so the bias is to the
upside only weakly we're probably really
clean in this swing and we're close to
the resistance so we only would be
looking at this a smaller trading range
as a potential way of continuing to the
upside but there might be some kind of
reversal here so structural bias could
be defined here a little bit later on
you know just depending on what happens
and then we would go to the intraday
again define the bias
swing bias so for instance we're done
was this swing so on the hourly we are
in the downswing so that's gonna be the
primary buys for us on the intraday and
we would be looking contextually into
this as well so probably and upthrust so
we actually the next high probability
move is to the downside so only intraday
so on the daily this could be different
and that's how we would look at that so
structure daily swings intraday
structure
introduced wings and then just going
into a smaller time frame for the point
of entry so it would be good to have a
hierarchy based on structures on
different time frames of higher
probability motion yeah definitely I
mean I'm kind of like going from one
time frame to another and it just like
so natural radio at this point I mean I
can remember you know very easily the
structure but if you guys feel like
putting it on paper is better I always
would suggest that you know um I
actually feel like years and years was
keeping a trading journal for each day
so I would do like a post analysis there
I would do my analysis and what that
what that does is just helps to keep
your mind always on cue as to where we
are structurally because sometimes our
minds is distracted and same for indices
in metals
versus oils etc yeah for sure I mean
with metals I've never traded metals on
except for the gold and silver ETFs but
they've never traded futures on gold or
silver this so this is probably one of
those areas that you know I've missed as
you know instrument but there are silver
and gold is going to be highly
correlated so you want to always have
that correlation going and look at
what's what's better and
not perversion so nicely okay and then
what am I think yeah so I'm putting ETFs
again here because this I'm just more
familiar with mythology herbs like that
but you could see on the daily basis you
could see this on the intraday basis
that comparative strength is important I
mean look into this area right here in
gold we're already going up what is
happening with silver we are going up
but not so not so quick we already here
at the one half of the move that we've
had prior we are definitely weaker in
silver here than in gold so therefore I
want to establish a position and we have
a swing position in gold rather than in
silver and look comparatively how much
nicer this move is we are overcoming
this resistance and until where we are
just failing and then of course on the
intraday basis you're gonna do the same
in the same type of analysis so anything
slightly correlate it's like this you
know you're always going to have this
type of analysis even for for those of
you who heard about pair trading or
spread trading that's basically the same
concept you take two stocks or more the
stocks that are that belong to the same
industry group that are somewhat
correlated and you create you buy one
and you're short another one so you
create effectively create a spread and
when that spread becomes positive and
it's at the maximum you just sell that
spread and then you you establish the
spread again okay what else they're
worse
questions okay so selection of the right
instrument comparative vpa intraday why
don't we leave this question Karen why
don't we leave this question for the
market outlook session yeah what I would
like to do is I would like to put the
true VP by HDS eye on the intraday and
then just let's look at that because I
know that it's still gonna to find a lot
of and I'll try to find both examples
when you know it's gonna produce a
really good result and then where it's
just not gonna make sense you know in
some instances that's how it's gonna be
you know because in some instances
there's gonna be a lot of volatility
just based on nothing not necessarily on
accumulation or distribution there's
gonna be a lot of Foley 2hf somebody's
just want needs to get rid of the
position and even though it's an
accumulative that and they're gonna
produce some kind of you know shake out
action even within let's say phase D and
it wouldn't make a lot of sense as to
how to read that but let's have a look
let's play with that and maybe not this
Wednesday but we'll see you know because
I want to open up next Wednesday to
everyone but we'll definitely look at
that and thank you for a great question
all right anything else any other
questions and you know the comments guys
I'm surprised how quickly this whole day
went I hope that you guys enjoyed the
whole workshop so this is the first time
when we conduct the intraday workshops
so I've been preparing a lot of content
going through some of the concepts
I'm not necessarily using anymore but
you know some of them I'm actively using
and you soul like was amoenus you know
this is where I probably have you know a
very good
you know advantage there so I think that
by the time we're gonna have the next
intraday workshop next year you know I'm
probably going to add some of those
ideas I'll let you know if I do but
overall I think it was a good first try
a good first intraday workshop
I'm gonna send evaluation forms to you
either tomorrow Monday probably Monday
so please make sure that you know you
give me some kind of feedback because
it's crucial for me to understand you
know how relevant the information that
I'm bringing to the table to you I mean
obviously I've developed already you
know my style but it could be a
different style from what you do or you
might say that you know or this is you
know a little bit to complicate it or a
little bit too simple and so on and so
forth so I want to hear that type of
feedback and want to see what what you
guys are thinking you know as to the
value of this product I really
appreciate all of you spending the whole
day with me I mean it went so fast at
least for me
it just feels like I just sat down in
front of the computer and I just hope
that you got a lot of insights a lot of
new ideas on how you could day trade how
you could combine your day trading and
swing trading so we're not actually
we're talking just you know day trading
we definitely you know we're talking
about the effectiveness of day trading
and how that relates to the
effectiveness of the swing trading and
you know how can we combine both ideas
and I think that if you could
take that that idea of this switch was
probably one of the important ideas you
know that I've shown but there are also
a lot of small ideas that they're
related to the specific markets like
we've discussed currencies were
discussing minions stocks and I think
you know those specific market
specificity is very important during the
intraday another idea that we've
discussed that is extremely important is
how do we select a specific instrument
or let's say a stock out of many stocks
and index out of many indices a currency
out of other currency pair is coming you
know that's selection mechanism aced on
the comparative analysis is extremely
important as well also I hope that you
might adapt some of the general
guidelines and rules that I have for
different markets for the day trading
and you know those are based on my
observations of the day trading that
I've done before the concept of the
swing reversal is extremely important
the concept of this understanding the
structure is extremely important the
context of this structure and therefore
creation of the buys based on the
structure and when you combine this two
biases you know the structural bias and
the swing bias this is where you're
gonna get the best result so you always
want to go with the trend or with the
bias and you know if you do this
consistently you know as your homework
before the session starts then
everything is easy you're just looking
for the reversals in the direction of
that bias new supports or resistance and
off you go
all right guys I think that's it
again thank you so much the videos will
be posted next week I'll let you know
and I'll give you the access
to all of you you already have the
slides evaluation forms will be emailed
probably on Monday it was my pleasure to
spend all this time with you thank you a
lot and let me know what you what you
thought of the workshop
[Music]
you know I really appreciate the
feedback
all right thank you guys have a
wonderful Sunday and I'll see you either
at the market outlook on Wednesday or
I'll see you in the classes so just you
know shoot me an email and we can
address any questions or comments that
you might have thank you guys
it's been my pleasure bye-bye Subtitles End: mo.dbxdb.com