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so, in this video, I’m going to show you, how i was able to make almost 200 dollars, by being just 4 minutes in the trade. Almost 200 in 4 minutes! In this video, you can see, all the steps i go through before risking my money. Also, the following clip is un-edited, so you can see, how i analyze charts using multi time frame analysis.okay!, so here, we have the EUR JPY chart. if you have watched my previous videos, you can tell, it is in a down trend. it is trading below the 200 period moving average.
Therefore, we will look to sell! But just because, moving average is indicating, that it is a down trend, doesn’t always have to mean, that the market will go further down.So, to avoid taking stupid trades, we will try to find the strong support and resistance. We will do this, by going into a higher time frame. this is a 5 min chart.so lets go to Daily chart, and look for support and resistance. here, we can see two strong support and resistance.
Now, let’s switch to a 30 min time frame, to find intraday support and resistance.here, i can see a strong support. price has bounced from this level couple of times. It is possible, that Price can bounce back again, if it comes near it.
We should remember, not to sell at this support level. we don’t wanna lose our money by doing something stupid!Okay! so, these are the support and resistance levels i found interesting. Now, let’s look at the 5 min time frame again, to see, if we can find an entry to sell,remember, the market is below the 200 period moving average, that’s why we are looking to sell.if you look closely, you can see the price was making a lower low.
But now, the momentum is slowing down. and since we found support and resistance using multi time frame analysis, we can see that the momentum is slowed down, after it touched the support we drew.first, the price broke through the 200 period moving average, made few lower lows.
Then it touched the support level. and since then, it is struggling to go higher. here, it couldn’t even make a new higher high. if we could have seen this chart around 30 minutes ago, we could have taken a short trade, because it couldn’t make a new high, and now it has made a double top.the MACD indicator was also showing a sell signal. like i said, if we would have seen this sooner, we could have sold at the double top, since both, moving average and MACD, are showing a signal to sell.
this doji pattern could have been our entry, and stoploss, would have been, above the high of the pullback. i would have taken profit quickly on this trade, as we are near a strong support line.
Anyway, Since we missed the trade, let’s look at another chart, for a better trade.now, this chart, will take time to create another sell signal. or who knows, it may even go higher, and change the direction of the trend.let’s look at Euro USD. This chart is also in a downtrend. But, it is looking messy. There is a lot of noise on this chart. It is better to avoid this one.Euro GBP, is not in a strong trend.
It seems, it is trying to change the direction of the trend. Euro JPY, also looks like it is trying to change the trend. Unless i see a good trend direction, I’m not risking my money.USD CAD, is in a good up trend, we can tell that, because the price is above the 200 moving average. that been said, i still don’t see a good entry signal, to take the trade yet.
Furthermore, I think, this chart looks over extended, and may fall down, to give a proper pullback. Then we can think about taking a buy entry on this chart.Also, right now, there is an engulfing pattern forming at the resistance. I think, we should take the trade! It looks really good.i will set the stop loss, above the pullback of the trend. and since there is a support near by, i will set profit target, near the support.okay!
let me enter the trade on my trading platform!You can see, how much profit or loss i make, on the right side of the screen.okay! let’s see, if we will make profit, or will lose money!it’s about to hit the profit target!here we go! i had to manually exit the trade, but we made a good profit! well, the trade worked perfectly as we analyzed.
It only took about 4 min to reach the profit target. i will explain how to handle a losing trade, and how to partially enter a trade to reduce risk, someday in future videos. maybe Subscribe for that!