How to Know Market Direction [Easy]
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- Опубликовано: 16 авг 2023
- Learn to identify the markets trend direction within about 10 seconds, and with 66-81% accuracy on whether or not it will continue in the same direction.
This is part 1 of a 2-part video series to help you understand that trading in the direction of the trend is monumental towards your trading success.
In this video we learn HOW to identify market direction using highs, lows, BOS, and ChoCh.
It's really simple, and once you learn the probabilities (video two), and how to gather this information yourself, you will not be able to un-see this, and it will make any other method of market direction obsolete.
TIMESTAMPS:
00:01 - Introduction to the the best forex trading strategy
02:28 - 1st Example
12:09 - Chart Data Entry
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DISCLAIMER
I am not a registered financial adviser and hold no formal qualifications to give financial advice. Everything that is provided in this video is purely for educational purposes only. All information here should be independently verified, researched, and confirmed.
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex Market, you should carefully consider your investment objectives, level of experience, and appetite for risk. Most importantly, do not invest money you cannot afford to lose.
Hey guys, if you want to join the Discord group and trade with circa 100 other traders using this strategy (no other strategy allowed), follow this: shorturl.at/hKNTU
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These shorter videos explaining the strategy and the terminology are great thanks Paul
Thank you mate, much appreciated :)
Next one is a tiny bit longer, but it's because we look at all the stats
Hello Paul. Thank you for the great video content! Since September 1st, I conducted an analysis on NAS100 on a 15-minute time frame and got the following results: 14 stop losses and only 2 profitable trades with a 1:4 risk-reward ratio. 14 stop losses!
Ouch! No to NAS then!
I’ve been into trading and progressing really fast for the last 2.5 months, and you just solidified something I found after 100+ hours of backtesting. Thank you!
Perfect! Keep it up mate. The effort pays off 🙌
Good to see you back! I have been watching your videos and have learnt so much!
Great to hear mate
👍Hey! Thanks Paul for taking the time to produce this video and give to us for free. Very gentlemanly of you.👍
You're welcome mate, thanks for watching!
You’re a blessing and a good man🙏🏾
Thank you 🙌🤗
Really waiting for your next video, I've been using your strategy to try to get funded, it has worked better than other strategies for me. For now I'm 1% up but risking less than 1% per trade.
Well done mate. Someone reached 10 funded accounts within the group recently using this. So good to hear - keep up the good work!
Now, here's a question, When do you go counter trend? In your past videos, sometimes you start trading againts the main trend(higher time frame) after the first lower time frame choch(you mostly accept a choch with body but you sometimes also accept wick break chochs), you also some times accept the choch on minor structures just like in this video(ofcourse here you are on the daily, Im talking about 15min) as a reversal of the trend but sometimes wait for a choch made of larger move as the main choch. And another question what's your criteria for evaluating order block candles?I have seen you looking at the high and low of the OBCandle and the next candle. Btw thanks alot for the video you are the only legit trader I'm currently watching and respect, I have watched all your videos in the past week so if you need a timestamp I can give it to you, once again man thank for putting your knowledge out for free I really want to support you more than touching a like button but I first have to become a real trader
Thanks very much for the comment mate. Sorry for the late reply!
A bit of it comes down to intuition and experience of what holds up and where, but typically speaking you can take most of them and still be profitable. I prefer a body break, but with exceptions for wicks often based on the curvature of price movement on the build up, and if we are in a HTF zone. I'll go against the trend often, but targets need to shrink a LOT in comparison. Currently just working on cutting out my CT trades as I had bad losing streaks a month ago and about 9/10 trades were CT to the HTF
Glad to see you're back, hope health wise you are ok.
Thank you! Getting better gradually 😎💪
Thank u for this video. Please publish videos regularly...its a great help...
Will try to mate :)
This video was awesome. BoS and ChoCh are now really clear. Could you make a video explaining swing high and lows and how they're used in your strategy? Cause when I watch older videos, you seem to sometimes use swings instead of bos and choch for entries, stop losses ans targets. Thanks a bunch, keep it up!!
Thank you!
I had to standardise the words I use due to industry know-how so now I just use the terms bos and choch and internal and external (main) structure. All the same thing mate.
Apart from BOS / CHOCH give directional bias which is helpful tbh. Ideally you want to target only BOS unless you're familiar with CT and early signs of trend changes
If a candle breaks the high (made from previous candle) but ends really bearish, you count that as a retracement or continuation? You're the man !!@@TradeForexwithPaul
Ha thanks mate! In that scenario it's technically a continuation, but I would be very cautious on it as it'd be indicating a trend change. There are a few situations where that will likely occur e.g. an outside bar, or a severe wick and bearish close.
Been a while..... But , always TON's of value in the most simplest way.
Thank you!
Hey Paul
I really like your videos. great way of teaching it simplistically. Was wondering do you ever hold any free discord or meetings so we can get a feel of the FTR before joining. Just don't have enough funds to join right now?
No stress mate. Will run a couple of free webinars soon
Hope for next video tomorrow :) Thank You maybe some trade breakdowns of trades you taken this week ?
Next video next friday mate :)
Not a bad idea. In two currently, got another 3 pending
Hi Paul, I just wanna thank you for all the knowledge you share. Your way of trading really change my perspective and make me see market better. God bless❤!
Finally I recommend that you apply background music on your next content as it was in the last video. Thanks.
Thank you so much mate :)
Ricky Gervais on trading....no joke... (sorry, im sure you've heard that one 1000 times).....great content bro!
Thanks mate. I'll take that 😅
Hi Paul, your videos are really inspirational and a give a great understanding of the way you trade. can I ask... do you use order blocks as targets or trade with the BOS then wait for a ChocH to trade in the opposite direction?
Thank you mate. It's a mix of both.
Typically I'll target either a BOS or the next H4 level (Supply or demand).
I trade only OB's for entries. m15 is purely the entry timeframe. H4 and daily is really what I trade
Yo, nice to see you back on YT.
Thank you! Feels good to be back mate
Hi thanks for the videos. Can I ask what are the must haves when choosing my broker and which forex broker do you currently use?
I have 2 brokers. All low spreads, if any
Hi @TradeForexwithPaul I'm going through EURUSD for 2023 on the 4H marking BOS and Choc as you've demonstrated here plus the new rule of body breaks only and moving the line when there's a wick break. I've been marking losers if price Breaks Choc and Adding up winner if it comes to the extreme order block including wick and goes on to touch BOS. It was going fine until June 2023 and then there hasn't been a winner for about 20 possible trades so far as price is very choppy and knocking out CHOC and continuing. I've tripled check this video and your other videos to see if I'm doing something wrong but I'm not from what I can tell. My questions is:m is this correct on your data too? thanks
How does inner structural BoS/ChoCh play into your strategy? Does it depend on where PA is relevant to premium/discount zones?
Premium discount out the window on inner structure. It happens most of the time in premium. I look usually for the break of an inside bar but must be within a HTF zone to get it. Feed it down to the base of supply / demand to ride it right back 👊🤘
Brilliant analysis paul, im now only studying pull backs, how to join your discord please
Just follow the link in the description mate 🤘
Hi your old videos are all of them still relevant to how you trade today ? Thank you
Yes mate, but not the LBO videos - sometimes it would conflict what I do, but this evolved from LBO, so anything Pre maybe 2-3 years ago, not so much; having said all that - it's been an evolution using everything from the past
After long long time!!
Too long - hopefully not that long again!
How would you trade if you like to have around 5 to 10 setups a week a risk to reward of 1:2 and you would prioritize highest possible winrate ? Thank You
RR of 1:2 i wouldn't take.
Set alerts or pending orders if all confluences are met
What currency pairs is best to use for trading Choch and BOS?
All of them. EU is OK - USDCHF is beautiful, and AU gets less wicky. You need to test them all mate.
@@TradeForexwithPaul
Ok thank you so much Paul.
You have any course out?
Going to help the algo and ask a silly question. I have yet to figure out how to setup and draw the bos/choch template lines.
Aww thank you mate. Not silly. Just get the horizontal Ray. Play about with the settings and use the tab on the left (when selected) to save as a template. Add it to your favourites so you don't need to spend loads of time looking for it
@@TradeForexwithPaul yeah now I gotta get 100+ data points on SPX.🤣. Thx my man-oh and btw the Europe trip got canceled by gf’s company…
Haa, yeah - they add up! Ah that's a shame mate. I'll be flying across the pond soon anyway. Will do a few traders' meets on tour
Would be nice to have a link to the ICT videos that detail these concepts in much more depth...
Would also be nice to see ICT's intense work acknowledged, using the right vocabulary would also show respect for the Mentor of Mentors.
Hahahaha mate. ICT bs. That guy uses concepts that have been around (and written about) for 30+ years. Not a guru, not the god you think. Learn your own stuff like I've done. You'll need to adapt phrases to market norms like I've done but honestly, just learn to trade properly.
... yet you rob his content ... and you need to sell stuff ... show me you can do better trading than him before saying untruths about him ... he's been showing his accounts, calls and results regularly...and teaching for free... and mentoring and creating millionaires in the process... the market knows real when they see it @@TradeForexwithPaul
So have I... research him.
Have been studying with ICT since 2012... I know what I am talking about, been trading for decades, worked with US funds, worked with brokerages and risk managers in 3 different continents... and now I have seen what real trading knowledge is - ICT has it...
Trade more, sell less. @@TradeForexwithPaul
That sounds as realistic as the bs most of his followers spit out. Lets say you're truthful - genuinely, good on you. If it works, it works. But... to lack the emotional intelligence levels and insight into understanding there are more than one ways to skin a cat and it is not just possible but very feasible for more than one person to discover the same way to do something without direct link or communication. I have not learnt from ICT. I am self-taught bar 2x short memberships to retail trading courses 6 and 4 years ago.
I learn by doing hence the journey has been long.
Now its only because of the odd person who shouts his stuff out on my channel that I have researched some of the background and this chap (or his followers more like) thinks he created 'concepts' that have been around for 100 years. Yep. Not the creator or mentor of mentors.
Is part 2 out now? have a great weekend
Thank you! Yes, changed the date slightly to this morning. Have a great weekend, too :)
Nice.
Thank you
thanks a lot
You're welcome!
so what are the best currencies with the highest rates for this set up? according to your experience, for london open and New York
London Open - GU. NY - not sure. GU normally reverses.
Overall though - AUDUSD, USDCHF, EURUSD, GBPAUD, GPBCAD, USDCAD, AUDJPY, GPYJPY, USDJPY, XAUUSD - pretty much in that order.
Timeframes - Monthly, Weekly, Daily, H4, H1 (Rarely ever look at it), m15, m1, tick chart
SIMPLE IS PROFOUND
Thank you
whats PT in your notes
Pro trend
who is that breathing so hard ?? LOL
Haha mate it's the heart issue! Tried to cover it with the music 😂
🙏
Thank you