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Hello and welcome back to the Complete Scout Training Course, My Wealth, The Education.

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In this video I'll show some examples of scalping with the morning star and Evening Star.

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Patterns.

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Now, again, keep in mind that we have to use a little bit of artistic license in these patterns.

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But we do have the ability to trade them, or at least an amalgamation of them.

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So Dogecoin 15 cent level, an area that would attract a certain amount of attention.

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As you can see, multiple times we ended up shooting higher and then pulling back after a shot higher.

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So you could call this a evening star.

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Where would you like to go to?

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You'd like to go down there?

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Did break here and then you kind of had to sit on it for a while.

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This was about 25 minutes or so and then it broke down.

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So it wasn't exactly a quick scalp, but it did give you a little bit of a heads up and this type of.

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Trading environment.

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You can see that the stochastic had not only got into the oversold area, but it started to drop while

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price was still rising.

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So a little bit of divergence there as well.

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So this evening, some, of course, would have attracted a little bit of attention.

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Just get a Facebook.

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And you can see that.

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Notice how we had been falling pretty significantly here.

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Then we turned around to make a big move.

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We pulled back and formed this pattern here that would have been a morning star.

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So the first thing I would look at is there was a little bit of support there previously, as well as

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resistance, not anything major, but it's an area where you might see a bit of a reaction.

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So do keep that in mind.

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You would also start to look at your moving averages.

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So this is a nine.

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Notice how the star itself touched the nine.

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And then we broke above there so that.

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Candlestick.

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There was a continuation.

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Stop loss goes there.

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Once you get above here, then you can really get going.

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Now, that's the thing.

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You would have had to have been willing to ride it for a while.

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That's an area that I would have been interested in trying to target.

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So that candlestick essentially got there.

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Not quite 1 to 1, though, so.

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Not the best setup ever.

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This area here would be a target that is a little bit more doable.

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That's 2 to 1 and then 3 to 1.

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So it really comes down to how long you're willing to hang on to the trade.

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But you can see you did get that set up there.

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And that's one of the troubles that you can run into when you're trying to scalp is sometimes you have

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to just simply let things go because you're like, Hey, I've got a less than 1 to 1 shot and that is

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an account killer.

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So scalping is very difficult.

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It takes a lot of patience, which is something that people don't really talk about.

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Here is an evening star.

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So if we can break down through all of this, that candlestick, that candlestick and that candlestick,

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and we finally do a candlestick or two later, you make it a little run to here.

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That's exactly what happened.

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Your risk reward 1 to 1.

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You could, if you wanted to be a little more aggressive, try to press it down to here.

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But then you're starting to talk about a two hour trade.

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Might be a little bit much for a scalp.

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So let's see.

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Let's do forex.

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Pound yen.

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This pair are extraordinarily volatile.

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You can make out the evening star set up here.

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You can also call it a shooting star.

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So you could have gotten in there.

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But if you decided to wait for all of that, you had to wait for about 15, 20 minutes or so before

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everything kind of kicked off.

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Would have been right there.

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Your stop would have been there.

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Where do you think you're going?

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Right down here.

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Pretty straightforward.

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And in fact, once it actually kicks off, then once you've broken through all of this, then you're

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looking at a pretty significant sell off in what looks to be an about.

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12 ish minutes or so.

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And that evening star evening star right here got a breakthrough that first which coincides with this

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previous resistance.

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So you can see that.

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Her previous support, I should say.

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So let's go ahead and mark that area out.

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Right there.

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That candlestick we rakaia failed here.

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Form the pattern there.

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Pierce This came back all the way up to here.

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Found resistance again.

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Your stop would be there.

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And then that beautiful candlestick there really got things going.

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You would have hit a target there pretty quickly.

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And then this target here about a half an hour later.

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So let's go ahead and remove all the drawings.

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And.

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Another A crypto.

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Well, let's do a stock.

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GameStop.

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So gamestop's not as liquid.

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So you get a lot of gaps here.

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So technically this here would be an evening star.

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Support resistance.

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Resistance.

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So that's an interesting little setup there.

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Let's get rid of the EMA.

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Let's pull up the Bollinger bands.

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And we did, in fact, gap above the top of it.

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At the very least, if you use a Bollinger bands as a guide, you're looking to hit this 20 SMA.

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So that's your target.

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That's your stop loss.

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And there's your entry.

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So a nice little setup, 3 to 1 pretty quickly.

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Pretty quickly hit and as a result, easy trade.

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So what I also like about this is it goes with the overall selling of GameStop.

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So with that, we're done with module three, which was scalping with candlestick patterns.

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The next video we begin module for scalping with chart patterns, looking at something called a double

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top and a double bottom.