 testing testing. Can everyone hear me? All right, all right, man. I see a whole bunch of you guys coming in. Hey, Justin, hey, hey, hey, look out, a lot of people coming in. Hey, Gary, nice to see you again. Right. I got Mr. Edmund, Riga, Antonio, Atari, Charles, hey, hey, Charles, hey, nice to see you, man. Hey, hey, Justin, nice to see you. Let's see a whole bunch of you guys coming in, nice and early. Right. Sorry, just let me, just let me get my herbal drink again, because it's going to be a fun webinar. I'll be talking a lot. Right. Sometimes I lose my voice when I talk too much. All right, nice man, nice. Hey, Josh, hey, Josh, nice to see you here. I see a whole bunch of people coming in, a couple of familiar names. Right. Hey, Liam, Liam, nice to see you over here. All right, good stuff, man. Good stuff to you here. All right, hey, Ben, hey, hey, Ilong, nice to see you. Is that how you pronounce it? Is it Ilong? Right. I'm not sure if I pronounced it correctly. Are you from Singapore? Are you from Malaysia? Right. Oh yeah, and may I know if you guys could share with me which countries are you guys tuning in from? Right, so I know how many people are from Asia, how many people from Europe and Africa. Right. Nice to see. Philippines, that's great, that's great. Ben from Singapore, that's nice to meet from Philippines. A couple of you guys are from Philippines. That's very nice. Josh from the UK, which part of the UK? Josh from South Africa, good stuff, good stuff. Right, seeing if there's anyone else from Singapore. Ben, because I'm from Singapore too, right, currently a raffles place. So yeah, we might be very close to each other. Alright, Charles from Manchester, good stuff, man. So which side are you on, red or blue? Red or blue. Oh, Ilong's also from Singapore. Good stuff. So you got Ilong, we got Ben, both from Singapore. You guys can swing by and visit me one day. Yeah, it's tough times to be supporting Manchester United now. I have the Manchester United book here, give me a second. I got this book, it's a match booklet when Ronaldo started his first game. We were so filled with optimism back then, but now it's terrible. That's terrible. Hey Namibia, hey Henry, hey Ernie from Malaysia, good stuff, man. Ernie from Malaysia across the courseway, good stuff man. Okay, thank you very much guys for tuning in on time, right. I will just be letting the rest of the guys stream in when I come in. It's nice to see a whole bunch of you guys here, right. Today we're doing another session in our Forex Trading Masterclass series, right. This time focusing on trend lines and channels, but I'm going to train a little bit something special, a little bit extra today, where we're not only going to focus on trend line channels, but I'm going to show you how we can put it together to actually form a very good trading strategy. Alright, moving forward, we might be increasing number of webinars from once every fortnight to once every week, toggling between analysis and a live trading session. So, like for this week, we have a little bit of, we have a little bit more, what's the word for it, education, but next week we'll be doing a little bit more live trading sessions, right. So I'll be, yeah, it'll be pretty exciting. I'll tell you when we begin that. But at least, you know, it's not only just theory, but we also put in practice. The VIP room, which I've been telling you guys about, will be, should be launched hopefully by this week or next week, right. We got everything approved, I know I said we got most of it kind of almost approved, right. So just last bit of details we need to sort out before we roll it out, and everyone if you take me account, right, this time everyone for taking me account, we'll get access to it. Alright, it's good stuff. I'll keep you guys updated on that. In today's session, right, without further ado, let's begin. Remember disclaimer that everything is webinar is educational in nature. Educational in nature, right, so nothing should be construed as investment trading advice, please do your own little due diligence before you guys trade. Alright. Now, moving on a your host for today, for those of you guys who are here for the first time just share a little bit about myself. My name is Desmond Leong, so I run the award winning research from Everest Fortune Group. We're finalists for best effects and equity research for 2019 2020 2021. Right, we've got a strong team of prop traders here. If there's anything I want to share with you guys is that, you know, you don't, you don't need to learn trading for 30 years to be a profitable trader. You just need 30 days learning the right stuff. As you can tell from my picture, I'm rather young. I'm 32 this year. So if there's any encouragement to you guys that, you know, you don't need to be someone with like 30 years of experience. You just need to really learn and focus on the right stuff, you know, to trade for us profitably. I trade full time. I run an entire research and trading firm here. And what we have a special partnership with TinkMill4 is that we are bringing you guys the good stuff, the juicy stuff, the stuff that I take a trading to the next level. It's not the kind of stuff that you find on Babypips. It's not the kind of stuff you find on Forex Factory. It's really good stuff where I've made the mistakes. I blew up, I think about seven accounts so far. Right, and I learned the hard way, you know, on what's the right way and what's the wrong way. Because in the world of trading, I'd like to remind you guys that trading is very different from the world of trading. The world of academia. The more you study, the better you do. The more you read a textbook, the better you're doing the exam. But that is very different when it comes to trading because in trading, the more you read, that's not equal to you trading better. People who are very good in school, who score very well, very good grades. Right, they usually equate that. Okay, the more I read, I read up about support and resistance, I read up about Elliott Wave Theory, about harmonics, about all these different things. The more you read, the better you do, does not stand for the world of trading. Because the dangerous thing is that in trading, you can learn the right stuff, but if you apply it wrongly, it ends up, you know, causing you to lose money. What do I mean by that? For example, if you are a scalper, you get in and out of trades fast, then you go crazy and look at fundamentals, like really, really long-term fundamentals. That knowledge is going to hurt you more than help you. Because if you're scalping, let's just say you're scalping and you're looking to get in and out of trades in like five minutes or 10 minutes. The long-term fundamentals of where goal is going by the end of 2022 is not going to help you. There's too big a gap. So that knowledge of understanding long-term fundamentals is not going to help your trading strategy if you're a short-term scalper. So in the world of trading, it's about blending the correct things together. If you love to use Elliott Wave carry, but at the same time, you focus on a single currency pair. It's not going to work out because Elliott Wave requires you to combine multiple markets together. And that's the thing with trading. You can learn the right stuff, but you're applying it wrongly. You still lose money. It's very different from the world of academia. So there's one thing I want to teach you is that we teach you the right stuff, but I also teach you how to apply it properly. Because if you apply it properly, I can encourage you that I've seen people go from heat rates 40%, 60%, 80%, unprofitable to profitable. It's very possible. They even take their funded trader test and they pass it. And all you need to do is to learn the right stuff. I'll be showing you how I did it. I'll be showing you in this entire masterclass series that we're doing with TickMeal. The things that you should learn and the things that you should try to stay away from. For example, I tend to stay away from gun angles. It's crazy. You're literally seeing stars because it's based off astrology or something like that. But there are the good things to learn and the wrong things to learn. I'll be showing you guys a little bit more about that today. If you have questions, ask them right away. I literally have another screen open right here to monitor the questions that come through. The reason is because I'll try my best to answer the questions along the way. If any of our webinars is to go by, we rarely have time to answer questions at the end of the webinar. So please just shoot your questions. I'll do my best to answer them. I literally can see them there. If it's relevant answer, if not, I'll tell you the answer towards the end of the session. But yeah, just don't hesitate to ask questions, right? Yes, I think it is, but you'll be uploaded later. We're not sure when this will be uploaded on the TickMeal YouTube channel, but it should be. It should be. Anyway, this is the end of the webinar. We're not sure when this will be uploaded on the TickMeal YouTube channel, but it should be. Anyway, let's move on from here. Let's move on from here. What we can expect in today's session, let me just pull out my handy dandy pen. I have a handy dandy pen here. Things that we should watch out, we're going to focus on today. How many touches does a trend line need? How many touches does a trend line need? We're going to look at this thing called weeks or no week, right? Should we use a week or should we not use a week when it comes to trading? Then we look at different time frames to use, different time frames to use, right? We explore the concept of channels, which are essentially just parallel trend lines. And I'm going to show you some of the ways you can combine multiple different forms of analysis to improve your accuracy. Okay. One thing I want you guys to wrap your head around is that when it comes to trading, it's not just a single, a single, what's the word for it? A single approach that helps you be a profitable trader. Okay. It's not just a single approach that helps you be a profitable trader. For example, right? How I usually trade is I have different check boxes over here. Okay. Maybe I have five check boxes over here. My minimum is that I need a minimum of three, right? Three is the minimum over here. First one could be, you know, I have a trend line. Second one, I could have Ichimoku, can go here. Third one, I got, let's just say I got Fibonacci. Fourth one, I got a moving average. Fifth one, I got a supply and demand, right? So depending on like the setup, right? Maybe price is on a trend line. It is being supported by Ichimoku, can go here, right? And it is on the 100 moving average, right? Three of it, right? It goes to maybe 1.5, no, 1% trade. Four of it, if it happens to be on a nice Fibonacci, I will plus, you know, plus 0.5% to that trade, right? And it also happens to be on a super big support level, right? I plus another 0.5% to that trade. Okay. I can continue to add on stuff there, right? I can add in correlation, I can add in elite wave theory. I can add in divergence. There are a lot of different things, right? But the more you add, right, and the more things line up, the more you increase the probability of a particular trade, okay? So trading is not binary, guys. Trading is not binary. What I mean by it's not binary means that trading is not a case of 0 or 1, right? So some people think, yes, no, I'm not going to take a trade, or yes, I'm going to take a trade, right? Trading is not that way. Trading is actually a case of, no, I'm not going to take a trade, yes, I'm going to take a trade. How much am I going to raise on that trade? Am I going to raise low, medium, or high, right? Am I going to raise 0.5, 1, 1.5, 2, 2.5%, right? Trading is more that way than yes and no. A lot of people just see trading as yes and no. But the thing is, there are times where not only do you put a trade, but you allocate more to the trade because it just looks so nice. Imagine if you see a version of yourself from the future, right? And they come in and they tell you, right? Hey, Charles, or maybe, hey, Ernie, right? I come from the future. I got proof that I came from the future, right? This is a newspaper from the future. I got proof that I came from the future. The euro dollar or goal, let's just say goal, is going to shoot up from here to the moon, right? It's going to go up like crazy. This is the best price to get in now, right? Right today. How much are you going to put on the trade? Right? If you think about it, how much are you going to put on that trade? If someone from the future version of yourself comes in and shows you that this is going to happen, right? You have a high degree of certainty that's going to happen. So based on the probability of something working out, probability, I can't write with this. Based on the probability of something working out, right? So if this is a probability tree, right? Then this is your risk. So maybe it is zero, one, two, three, four, right? So based on the probability of something working out, the higher you should allocate, the more you should allocate to that. So if you have a 99% chance of something working out, right? Maybe you're going to put in like 100% of your account, right? You're going big, right? But if a low chance, right, then you allocate less, right? You need to think about it from this concept. So you know, if this person comes from the future and you're super sure of it, right? You're going to sell your house. You're going to trade, right? But if you're not too sure about him, it's like, hey, you know, you don't look like the future version of myself or maybe he doesn't even come and you're just going to take a trade on goal later, right? You're not going to put in too much to a trade because you don't have, depending on how confident you are, depending on the probability of something working out, you know, you allocate more to a trade, right? So you must wrap your head around the concept that the better a setup is, the more you allocate to it. How you determine how good a setup is, stuff like where's my mouse, stuff like trend line, start like Ichimoku, how to use Fibonacci correctly, how to use a natural moving average, how to use supply and demand correctly, how to use price action correctly, how to use Elliott Wave, how to use correlation, how to use all these different things, how do you use them? The keyword of emphasis here is correctly. If you use them correctly, right, they can increase the probability if a trade is working well. So in today's session, that's what I'm going to focus on. Some of the key things, the common mistakes that people make when they're trading trend lines, all right. And then we're going to do, we're going to debunk, of course, not only channels, but also some of the other stuff that are trying to improve the probability of our trades over here, like the more checkboxes that we have, the better it is. Okay. I can see Jella or Reese asking me, what app should I use in forex trading? Well, you should use in forex trading. I guess the most common ones are trader, MT4, MT5, right. Tickmills supports both of them. They also support trading views, so you can consider that, okay. Let's move on to the next question. How many touches makes a valid trend line? Does anyone want to take a guess over here on how many touches, how many touches must price, must a trend line touch price before it is a valid trend line? How is everyone answering three at the same time? Are you guys colluding with each other? Right. Okay. I'm glad no one says one. One would be like a nightmare. Well, two. Okay. I see a lot of answers. I got Sulema answering two, Ku answering three, Shilin asking two or three. Derek. Okay. So the answer, two is a tentative trend line. Two, it happens. Most of the time, two is a coincidence. If you think about the number of times, let's just put it out over here. I throw on a chart over here. Number of times, we can just so easily draw two points. It's so easy. I can just draw this. One, two, bam, that's a trend line. I can take one, two, bam, that's a trend line. I can do, there's so many ways to draw trend lines and they are often not that reliable. They're often not that reliable. These who have maybe not been that nice. So two is what we call a coincidence. Two is a tentative trend line. Three is a confirmed trend line. That's the important thing to take note of. Two is a tentative trend line. Three is a confirmed trend line. Two most of the time is just a coincidence. It's so easy to just randomly connect two points together. I can connect this together. I can connect this together. I can connect this together. Most of the time, they don't work out that well. If you have using two touches as a trend line, most of the times it doesn't work out very well. You need minimally three touches to be confident that it's a valid trend line. Let's get out of the way first. It takes three touches for it to be a valid trend line. That's the first thing to take note of. You can see over here. There are three touches. Next thing I'm going to talk about is weak or no weak. How many of you guys say that when you draw a trend line, you need to include the weak, and how many of you guys say you don't need to include a weak? Anyone want to take a guess? Let's see everyone's answer. Should you include the weak, the shadow? This is the thing here. Should we include the shadow, or should we not include the shadow? I think quite a number of people answer it as nice. I'm just trying to put in a poll for you guys later to go through. Let's see. Let me see my answers. Most of you guys say yes, you include it. Include, include, include. Only Ernie says that maybe not. You must include the weak. Yes. Let's look at it over here. In this case, we include the weak. We include the weak. We include the weak. How does it look like if you don't include the weak? If you change the time frame, this might be a H4 chart. If you change it to a H1 chart, you'll notice that it still captures the jobs very nicely. If you don't include the weak, in this version, you have the H4 chart over here. You can see we don't include the weak. We only use the closes. We use the close. We use the close and we use the close. What happens when you change this to a H1 time frame? You suddenly see this ugly movement here, this ugly movement. You wouldn't draw this normally as your trend line. There's a reason why you need to include the weak inside because when you change the time frame, if you don't include the weak, it becomes very messy. Let me see if we can have a real-life example over here. Let me see if we can have a real-life example over here. Let's just say we don't include the weak over here. In this case, let's go with a bar replay. You've got it over here. In this case, look at this. Maybe you guys are thinking, we don't need to include the weak. We've got the close. We've got the close. This looks like a nice little trend line over here. This trend line is on the H4 chart. Let's take note over here. This is the bounce. This is the bounce and this is the bounce. Remember these three circles that I just drew. Let's change it to the H1 chart. Suddenly, on the H1 chart, this looks absolutely terrible. Look at this move here. No one would look at this. No one would look at this and say, let me just draw a trend line this way. No one would look at it and draw a trend line that way. This is the reason because when you are different people, when they're looking at the chart, they all look at it at different time frames. You can look at H4 chart. Another guy might look at it on the H3 chart. In this case, it looks terrible over here. Another guy will look at the one-day chart. Another one-day chart looks very different. Another guy might look at the two-hour chart and it looks very different. Everyone's looking at different time frames and very importantly, looking at different... Let's just see. You could very well just change this time zone. You can change the time zone. You can change the time frame. Suddenly, the chart gets manipulated in many different ways. If you don't use the week, the closing price differs from time frame to time frame. But if you use the week, if you use the week over here, talking about H4 over here, let's just say we just drew this over here. We have captured the low point over here. Remember this circle over here. When I change it to H3, it's there. When I change it to H2, it's there. H1 is also there. Even the 15-minute chart, where is it? It's also there. Notice that it is universally the same across every single time frame. That lowest point is the same across every single time frame and that is why more people are likely to use that as the trend line. To reference that level as a trend line, there's less ambiguity, and hence there is a more reliable trend line to use. And then your trend line, the accuracy of your trend line, will improve. There's another key lesson to learn. Not only do you require three touches on the trend line, but you also require to use the weeks when you draw trend lines. Charles is asking, how do you address a false breakout? How do you identify a false breakout? Does anyone want to take a guess? Or maybe you can share yourselves. How do you forecast a false breakout? I'll give you a glimpse into some of the advanced ways we actually use to forecast if a breakout is real or not. But yeah, how do you forecast a false breakout? Anyone want to take a guess? How do you forecast whether a breakout is false? Richie is saying, breakout could be real if the body close touches the support resistance just a week on lower time frame by Aaron. A few answers coming through. Let me share with you the concept. It's a pretty advanced concept, but let me share with you one way, which I use to avoid false breakouts. Let's see if I can find a good example right here. On Aussie dollar, we have, let's see, one of it is this thing called correlation. One of it is this thing called correlation. Let's just say, let me see over here. Let me see if I can give you a pretty good example of how this looks like. Okay, so let's talk about correlation. This is something if you want to learn, we'll be teaching in the future sessions, but I can give you a glimpse into when you're drawing trend lines because I think it's relevant. It's a pretty relevant question that is being asked. How do you avoid the fakeouts? One of the things is a pretty advanced approach is called correlation. Correlation means that price moves in tandem with each other. For example, let's just go to my FX book, market correlation. Got market correlation over here. Let's go to the time frame. Let's just say for the past one month, let's look at Aussie dollar. You'll notice that Aussie dollar and Kiwi dollar have very strong positive correlation of 98.6%. What does correlation mean? Correlation basically means that price moves in tandem with each other. One goes up, the other goes up, one goes down, the other goes down. That's the meaning of positive correlation. Negative correlation is one goes up, the other goes up, one goes down, the other goes down. So let's go into the one-month time frame here. We can see Kiwi dollars up there and Aussie things up there as the top positive correlations. They should be moving in tandem with each other, meaning that if this one bounces over here, this one should bounce. This one bounces over here, this one should bounce. This one bounces over here, this one bounces over here, this one should also bounce. So in this case, in this case, let me just draw the line where we might be thinking a breakout has happened. Okay, let me zoom in over here. In this example, okay, in this example, we can see that Kiwi dollar has made what looks like a breakout. Okay, Kiwi dollar has made what looks like a breakout over here. So if we were, if we were trading Kiwi dollar over here, we would have seen this move over here and we're thinking, okay, price might be breaking out of this trend line. You know, there's a bounce over here, there's a bounce over here, bounce over here and it looks like it's breaking out over here. Right, so you are thinking that price might start to go down over here. That is like what happens when price breaks out. One thing to look at, right, one thing to look at is to see what is happening in a very positively correlated instrument. Right, so in this case, Kiwi dollar has a brother who follows him very well and that is the Aussie dollar, AUDUSD. Right, we're looking at it over here and we notice that hey, Aussie dollar still has some time before I reached this trend line. There's no one to say that Aussie dollar is going to break out right here. If, if, if anything, right, there is still a nice little support where we might bounce up. So if Kiwi dollar is telling me that it's going to go down, but Aussie dollar is going to tell me that it's going to go up. That to me is a warning sign. This one is down. This one is up. What happens, right, they cancel off each other, right, and this is then not this is a low confident breakout, that means I would be less confident that price is going to break out from, from this move over here from this trend line because Aussie dollar looks like it's still going to bounce up. Because if you look at it, at this level, right, at this level price has not, when price broke here, Aussie dollar was still, you know, still sticking above the trend line. I think when you throw the Ichimoku, right, you can see that price was still holding quite nicely at Ichimoku. Okay, so there are multiple ways to kind of confirm it, but one of the tricks that I like to do is to look at such confirmations. All right. Same thing over here, you know, price is bouncing from here, right, and this is not a trend line over here, right, but it can tell me, right, it can tell me that this is one way to avoid it. Other correlated currency pairs, you know, can just go to this place, you just throw on something like, actually, you know, we're back to Aussie dollar and let's just throw on a, let's throw on this thing called AUD SGD, which is very, very positively correlated with very positively correlated. It's a little bit far away. No, it's not that relevant. It's a little bit far away. There's no break out over here. But yeah, so that is one way to look at positively correlated instruments. And you see whether are they both singing the same song. If Kiwi dollar shows that it's a bearish breakout, and Aussie dollar shows is a bearish breakout, you've got double confirmation that is a possible breakout that increases your chance that it's a, it's a, it's a valid breakout. Right. And in that case, you also on the flip side, it increases the probability of avoiding false breakouts. Because false breakout is when one, you know, when goes up and the other one doesn't go up, you know, I don't go down. Then you know, you can't take a step back and like whoa, whoa, something is a little bit fishy here, you know, they're not all singing from the same him book. Right, so that's one way to do it. Another way is that look for double confirmations of breakouts. Okay, what I mean by that, let me see if I can just let me see if I have an example here, let me see if I have an example here. Another thing I do is I look at double confirmations. Let me look. So, so Stevenson is asking is your dollar pound dollar also tandem, a tandem but not as strong. Right, so, so let's just see. Okay, I usually like to look at the one month because anything less than one month tends to be a bit of a of a coincidence. Right, so I tend to look at one month Aussie dollar QE dollars about 93.7% come into this this page over here. You can search it up right and you can click on. Where is your dollar, click on pound dollar, you notice for pound dollar for the correlation for the past one month. Your dollar is only a 76.7% correlation with pound dollar means that it moves in tandem but it's not that great right it's not that great in fact, pound dollars doesn't seem to really move that close if anything else besides pouncing obviously right but if your dollar is not that great. If you want, who can who wants to take a guess over here, which instrument, which currency pair correlates very well with your dollar. If they're not correlated, we don't use them. So correlation, something is that if it's there is great to use. Right, no, no. Giannola is not pound dollar. There's a particular currency pair that correlates very well with your dollar anyone wants to take a guess. I like it. I like Andrew's answer. John answer might be correct. Let's take a look. There you go over here. Looking at the past one month. You can see that. Andrew. All right. My answer will have been dollar Frank to buy looks like he has deviated a bit. All right. My answer will have been dollar Frank. Okay. All right. Looks like dollar Frank your friend got a lot over here. Those would have been my answers. Right. Those who have been my answers is a bit interesting that they're not here. It shows that something's out of whack a bit. But yeah. Dollar Frank will have been my answer. Because when you throw on your dollar, you're trying your dollar and it's one dollar Frank. They actually tend to. Let's do a new press skill. They tend to move intent in opposite directions quite a bit. Right. Look at that. Right. So let's go to four hour chart. You can see how, you know, when, when this one goes down, this one goes up, down, down, down, up, up, right. Down, up, down, up, you know, it kind of. It's like, it's almost like a mirror reflection. Right. So by right, your dollar and dollar Frank works quite well together. Right. So I think only for a short term in the last one month, he has been deviating a bit. But otherwise they tend to move quite, quite in sync with each other. And that's how you can use trend lines to further improve the accuracy of your, of your calls. Okay. It's just to avoid it. Okay. Now, good question, right? Good question, how to, how to avoid false breakouts. Another thing with trend lines. Let me see if I can find an example here for you guys. Okay. Let me see if I can find an example. Let me see if I can find, sorry, just let me, if I can't find it, then I'll just move to the next thing. Okay, maybe I just draw an example for you guys. Okay. Another way to avoid false breakouts. I got a trend line over here. Okay. I got a trend line. I got one bounce. I got two bounce. I got three bounce. Okay. So it's a, it's three lines is three bounces is a trend line. Right. And then prices come down to here. Right. Prices come down to here. And we notice that you wonder if it's going to break up from this trend line. Okay. If, so this is where you apply price action. If you see prices from this move. This candlestick pattern over here. How many of you guys say it's going to break out? How many of you guys say it's not going to break out? So this is the body. This is the head. Right. This is the body. There's a week. Is it going to break out or is it not going to break out? I love the same breakout. Anyone else? We got, we got the other cam of people coming in and say it's not Charles. No. John. Okay. Guys. The beauty of price action is that, you know, it's, it only happens in the midst of the action. Right. It's like an action movie. Right. You need to be there and then when action is happening, then you see, then you use price action to determine whether it's a, you know, a higher lower probability breakout in this case. In this case. All right. You have a, you have a candlestick here where, you know, there's a nice body, but a long, a long week. What this means is that price tried to break out. It went all the way down, all the way down, all the way down, but the bulls took over and it pushed it all the way back, all the way back, all the way back, all the way back and then landed back up here. Right. So this is actually a bullish candlestick, a bullish candlestick pattern. This bullish candlestick tells us that it is unlikely that this breakout, this is a successful breakout. Right. Because if it was a successful breakout, you probably look at a pretty strong, bearish candle. Right. A strong bearish candle. Let me show you that as a lot of momentum, but this shows that there's bulls that are willing to fight, to come in and fight the breakout of the trend line. Right. So sometimes it might be tempting, you know, you, like, when the bar hasn't completed yet, maybe it's down here. Right. Maybe this is the body. Right. You might be thinking, oh yeah, it's going to break out, but within the last five minutes, right, the candle closes all the way up to here. Right. Forces this small little, this, what it looks like. It looks like a dragonfly. Right. It looks like a dragonfly doji. Right. At the breakout and that, you know, that is when you go like, okay, it's not, you know, that's a bullish candlestick pattern. There are many different kind of bullish candlestick patterns. It can happen. It is a hammer that's inverted hammer. We will go into the candlestick patterns later in another session, but that pattern tells me that, okay, it's bullish. Right. And because of that, it's less likely that this, you know, we're going to see a trend line breakout. Right. So that's another way, another approach you can use to, to filter out the, the higher probability setups. Okay. So you can avoid. Yeah. You can avoid a lot of trend line, trend line breakouts this way. Right. It's a good technique to use. You need to read up about, you need to read up about candlestick patterns a bit more, but it's a great way to do that. Okay. Oh man. There's so many. There's just one more I want to share with you guys. Okay. There's just, there's just one more I want to share with you guys. I can see if I can. Okay. I need to draw another picture to show you how you can avoid another trend line breakout. Right. No worry Charles. I have so many ways to, so many techniques to actually help you avoid false trend and breakouts. I really want to share with you guys. Right. So we got a bounce here. We got a bounce. Here. We got a bounce over here. And we got a bounce over here. Okay. So the way I think about is going to happen. Right. We got one, one bounce to bounce tree bounce is correct. It's a trend line. Right. Then we got another bounce over here. Right. If price. If price. If you notice, if prices close, closes at this level over here. Right. So yeah, you know, you see, you see price break and then, you know, there's a nice little close over here. Right. Anything that all right, it looks like we're going to, you know, price is close below the trend line. That's the textbook definition that price is going to drop. It's going to be a breakout. Right. And you decide to go short. Right. There is a way to avoid making a mistake here. Firstly, right. In this kind of particular trend lines always take note. If there's any horizontal support level. So remember what I taught you guys previously. Horizontal pullback. Right. So this is what I mean by, you know, it's a horizontal pullback level where those people who are not looking at trend lines. Right. Those people who are not looking at trend lines, they're looking to buy on this horizontal pullback to play the bounce. Right. They're looking to play the bounce over here. So while you are looking at a trend line going to break out, there's a whole bunch of people who are looking at this pullback support looking to play the bounce over here. And because of that, you know, you think that a breakout is going to happen, but it bounces up. So that is one way, very, very important way that you can avoid, avoid this false breakout. Don't just be, don't be totally consumed by a trend line. When you realize that there's actually a major support level over there. Right. Usually the support that you look at is this pullback support. Right. Because that could have been, right. That could have been another key level all the way over here. Right. A major, major swing high over here. Right. Then you draw this further back. Maybe all the way to here. Right. Then you realize that whoa. Okay. This is not only a small little pullback support. It's a major, it's a major pullback support that prices failed to break past maybe in the past, what in the past three years, if you think about it, this is an extreme example. Right. So let's say this was, this was 2018. Right. 2018. Right. 2019. 2020. Right. And then it's 2020. So in the past three years, price has not broken past this level. And just because price breaks this tiny little trend line just by a bit, you're like, hooray. No, it's time to, it's time to, it's a bearish breakout. We are expecting price to go down, but you don't realize that whoa in the past three years, price has never broken this level. Right. Price has never broken, you know, this level is a major resistance to support. Right. It should be, it should be going up. Right. It's a perfect pullback that everyone's going to wait for the pullback to go up. So that is one way, another way where you can really, really avoid, avoid this fake trend line breakouts. And that is ready to keep an eye on the horizontal levels, keep an eye on the horizontal levels. Right. In case it comes about. The, Charles, don't worry about the questions. Right. You can ask him. Right. For those of you guys who are asking, usually I look at a 85 to 90, above 85 to 90%, would be a good reliable correlation. Anything below that is not reliable. Okay. Another thing to take note of, sorry, just going to teach you guys more ways. I think it's a very important topic to avoid false trend line breakouts. And that is use a moving average. Right. Throw up a hundred and 200 moving average. Just to be safe. Because if you have a hundred moving average, that is over here. Right. Let's just talk about this is the hundred simple moving average. Right. Even though trend line might have broke out. If it is right above. Testing. If it has not broken out the hundred simple moving average. Right. Then you know that. Okay. It might, you know, it's, it needs to break this trend line and needs to break this to confirm the move down. Okay. So, you know, I tend to, the few reliable ones to look at 50. 100. And 200. Okay. These are the few reliable. Moving averages that you should more or less kind of screen through and make sure that price. You know, not only breaks out from the trend line, but also breaks these key ones. You know, or they're not in your way of a successful trend line breakout. The last thing you want is to see a trend line breakout, but then, you know, it has another hundred moving average. Right. So these are important things to take note of. And if you're into Fibonacci, the last thing I want to teach you is this thing called 23% retracement. Okay. So in this example, you can see over here, price breaks the trend line. And it's over here, but it has not broken the 23% retracement. 23% retracement in Fibonacci is actually borrows a lot of his theory from Elliot wave. It is the first key level that needs to be broken to trigger a bigger move down. Right. So always keep a lookout for the 23% Fibonacci retracement. If price breaks out from the trend line and it happens to break the 23% retracement. Right. And it happens to break this, any major support level that was at, and it happens to break maybe a similar hundred moving average. Suddenly, you have a much higher probability of getting a valid trend line breakout. If any of these things standing your way, right, then you know that, okay, I have a trend line breakout, but it still has not broken the 23% Fibonacci. It still have not broken a major support level that is now back on. It has not broken the hundred simple moving average, which is right on the support level. Then you know that you need to stay out of it. Right. So that is how you can improve the, the odds of getting faked out by, by these fake trend line breakouts. All right. I hope that helps you guys get a better grasp of the, the concept of false trend line breakouts and how to avoid it. Okay. Now let's go back to our slides. Right. This, this is just a simple case of this is on the H4 chart. And this is on the H1 chart. Right. Yeah. Of course, if you take the weeks, right, it looks slightly different. But remember that sometimes what might not look very clear, what might not look very clear on the H4, on the H1 chart, to change the timeframe to like the H4 chart, it suddenly becomes a lot clearer. So sometimes it's a matter of just tweaking around the timeframe that you're using. Okay. Now, um, this trend line, this trend line support, right? Price one bounce, two bounce, three bounce, right? Is this a valid trend line? Or is it not a valid trend line? How many of you guys say it is? How many guys say it's not? How many of you guys say it is? How many of you guys say it's not? Yep. Yep. I see a lot of you guys saying yes. Okay. Wow. A lot of you guys are saying it's a valid. It's a valid. Amara says it's not, right? No, it's not. Balaganesha is not that it is too wide, right? Actually a lot of you say it is. Right. Now guys, it's a trick question because this is not a valid trend line. Okay. This is not a valid trend line support because, right? Because, and it's a common mistake that a lot of people make. Because this for a trend line to be a support trend line, it cannot be sloping downwards. It cannot be sloping downwards. Trend line supports can only be sloping upwards. It should bounce, bounce, bounce, right? It is after all, you know, support, right? It's below. In this case, it's like a slippery slope. Imagine trying to find support on a slippery slope. You just keep going down and it just keeps sliding down, sliding down, sliding down. Right? That's why it's very hard to find support on a slippery slope. It's very hard to find friction on a slippery slope. Have you ever tried? Imagine you're running down. Imagine you try to stop when you're running full speed down, down a slope, right? Imagine you're running full speed down this slope. full speed and you try to stop is very, very hard to stop, right? Because the momentum is pushing you all the way down. It's very hard to stop. But if you're running up, you know, you're running up, you're running, running, running, you're tired, you stop. You know, when you're running up a slope, usually you can stop right away, right? You can just stop right away and say, okay, it's tired. You know, you can continue running and then you stop when you're tired, right? Because, right, that is, you know, um, trend lines work when it's ascending, um, ascending, when looking for support, you need to look for ascending trend line, right? It is not a resistance line, right? Liam, it's not a resistance line. Resistance is above price. Support is below price. Always remember resistance is above support is below resistance is above support is below price, right? Because I think about it. What you're stepping on now is supporting your weight. What is the floor below you is supporting your weight? The chair that you're sitting on is supporting your weight. It has to be below you, right? So price, you know, uh, anything that is below price is support. Anything that is above price, you know, you're pushing the top, you know, you're pushing against resistance, right? You're pushing against the ceiling. The ceiling is resistance, right? The ceiling is not support. You're not pushing against the support. You never say that the ceiling is supporting you. The ceiling is above you. Push against it is resistance. So in terms of proper terminology, always remember resistance above you, support is below you. Okay, guys, right? Alex, I hope you, I hope, you know, somehow got an epiphany, right? That's why your, the smiley is so big, right? But yeah, this is the concept we should guys need to grasp, right? Support, trend line support is always from the bottom. It's always from the bottom. Remember, you're looking for a bounce and a bounce and a bounce, right? It's always from the bottom. Okay? Of course, for a downtrend, right? It's always from the top, right? So, you know, when you're looking at a resistance, it always from the top, you know, it's looking for a drop and a drop and a drop. It is never the other way around. You're not looking at resistance this way. This is more like a cable car, right? Or something, right? You know, you don't look for resistance this way. Okay. That is why, that is why when you're looking at an ascending channel, right? You're looking at an ascending channel. It is better to play the bounce from here than to play the resist, the reversal from the top. So, that is another concept when it comes to playing channels. Sometimes people think that you can play both sides of the channel. People think that you can play the reversal off the top, right? And a lot of people think that you can play this reversal off the top of the resistance. But just because it's in the same channel, doesn't mean that it's going to be as effective. In this case, there's bullish momentum going upwards, right? There's naturally bullish momentum pushing and ascending trend upwards. So, when you try to play the reversal off the top of the channel, what you're essentially doing is you're betting against the momentum. Remember they say the trend is your friend, right? If the market is pushing everything up, you try to play the little bounces, right? Try to play a little bounce, you know, try to play a little bounce. You try to play a little bounce. The trend is your friend, you know, it helps you a lot, right? But if you try to play the reversals off here, right, that's where it gets less effective. So a lot of people who play the fluctuations between channels, right? Sometimes they have a 50-50 result. They're like, yeah, you know, sometimes channels work, sometimes channels don't work, right? And because of that, right, they, you know, they lose their confidence when they're training channels because they think that both sides of the channels are the same. But that is the furthest thing from the truth. Channels are very effective, right? When you are, you know, ascending channels over here, ascending channels is very effective for playing the little bounces over here. Descending channels, right? Descending channels are very effective when you're playing the reversals from here. You're playing the reversals, okay? They're not all created equal, all right? So that's the thing, you know, saying, you know, this is trend lines, right? Never mind. What time frame should you focus on? Yeah, you know, I got a touch on this before we go on to channels. What time frame should you focus or should you use when you're training trend lines? Okay. The answer to this is that the higher the time frame, the better. Okay. The higher the time frame, the better. The sweet spot I usually go for is the H1, right? And usually the H4. But trend lines are more effectively used, are more effectively used for as a gauge of momentum. Let me show you what I mean by that. And it also depends on the asset class that you use it, all right? It also depends on the asset class that you use it. Let's just go into here, okay? Let's look into a chart, maybe pound Aussie. Let me see if I can show you an example over here, okay? Let me just try to find an example. Let me try to find a good example for you. Okay, I think I found one earlier. Could be. It could be. Like, let me just maybe try to find a sample over here, okay? What is this? This is on the third of May, right? This is on the third of May. So we're looking at trend line breakout pullback over here. Plus, let's look at another broker, right? Look at easy markets. Look at this, okay? Look at this example over here. We have two different brokers, okay? And this is the nature of the forex market. You know, each broker has a slightly different price fee, okay? Each broker has a slightly different price fee in the world of CFD trading, mostly in forex, right? So let's just look at this example, okay? This example, let's just say, you know, we take a bounce from here and we took a bounce from here and we're looking at, okay, there's a breakout over here, okay? When there is a trend line breakout on this particular broker A and this is broker B, right? So we can see when there's a breakout over here, both are pound Aussie, by the way. Both are the same currency pair, okay? When there's a breakout over here, let's just see this over here. Give me a second. It's a little bit hard for me to see because it's a little bit small, right? You can see that price has not fully broken out of this trend line over here. The reason for that, right? The reason for that is because of this particular week over here, this week movement over here, this week might differ from broker to broker. Let me see if I can get a more obvious example for you. It requires me to get a little bit of a better example. This is 7, 9, 8, 9, this is how to find an example. Okay, maybe the easier way for me to show you is like this particular trend line that we're seeing over here. This level is 7,3006, right? This level is 7,304. You notice that there's a difference in price. There's a difference in price. This difference in pips or four pips, right? 7,3006 versus 7,304, right? Because of the difference, right? Naturally, one of it will have a trend line that is this way. One of it will have a trend line that is slightly above. Let me show you the effect. Let me show you the effect of a small little change in price. Okay, the easier way for me to show you is over here. If I have price that is over here, if I have a bounce and I have a bounce, sorry, give me a second. Let me just get it. I got a bounce here and I got a bounce here. I got a trend line. I got a ray and I got a trend line over here. All it takes is for price to be slightly lower. I'm going to show it to you. If I have another broker whose price is just slightly lower, just a couple of pips lower, you notice my trend line suddenly changes by a lot. If I'm a price of a broker who is just slightly higher, the price changes by a lot. This difference in price happens a lot on the smaller time frame. It happens less on the bigger time frame, but on the smaller time frame, it really, really changes a lot. This small little change, you might have one pips lower, one pips higher, one pips lower, or two pips lower. That's where it changes the trajectory of a trend line by a lot. When you're talking about this particular question on which time frame should we use trend lines on, naturally, the higher the time frame, the more reliable it is. The stuff like M1, M5, they, you can use the trend lines on that, but because universally across all the different brokers, you know that the pips might just be one or two pips off from each other, the trend lines are not that effective. I do want to touch on this thing. These channels I explained to you, channels, the requirements for our channel is that you need two touches at the top and two touches at the bottom. I created this little example I wanted to show you over here, improving the probability of your setups. This is the last thing I want to touch. Which broker? Okay, not that I'm being biased, RR, but TickMeal has honestly one of, purely factually speaking, they are, I have this thing over here, right? Sorry, let me just pull up tickmeal.com. You want to check this thing over here. $2 per site per 100 top. So it's $4 round turn for pro account and you just need $100 deposited inside. TickMeal is this $4 round turn. That is pretty cheap, right? It's on the cheaper side of most other brokers we've seen, right? Most are usually six or seven, right? But to be full, purely factually speaking, it's quite low for TickMeal. Okay, but I do want to focus on one thing. In terms of trading accounts, if you can use a classic account, use a classic account. Remember, low spreads does not necessarily mean really good all the time because zero commissions is great. And if you're, in this case, right? In this case, you are paying a premium for low spreads. You only need low spreads if you're scalping. If your trade is super spread sensitive, let me put things into perspective. Okay, let me put things into perspective. If you, right, if you were, let me just get my handy dandy pen out over here. Draw, I'm going to draw. If you were a trader, right, and this is your entry, stop loss, take profit, right? Your stop loss is over here, right? And your stop loss is your scalper, right? Your scalper. So your stop loss is five pips. Okay, your stop loss is five pips. If you had a spread of one pip, if your spread was one pip out of five, that is 20% of your trade is against you already. Okay, but if you have a spread of 0.1 out of five, then only 2% of your trade is against you. Okay, it's only 2% of your trade is against you. So if you are a scalper and you're really, really spread sensitive, right? Meaning that you have really, really tight, your stop losses are really, really tight, or your take profits are really, really tight, then you should go for a pro account or maybe even a VIP account. But if, for example, if your take profit is like 50 pips away, right? If your take profit is 50 pips away, a one pip out of 50 is nothing, right? It's 0.2, right? It's too far away, it doesn't matter. It doesn't matter, right? Yeah, it's no, it's 2%, it's 2%. So if you have a one pip spread and but your stop loss or take profit is 50 pips away, it only affects your trade by 2%. Okay, so if you're a natural rule of thumb, is that if your take profit is more than 20 pips, if your take profit or stop loss is more than 20 pips, it is better for you to go for a classic account. You don't need to pay for the luxury of a pro account. You don't need to pay for the luxury of a really, really tight stop loss. No, a really, really tight spread. That is more useful if you are a scalper and your stop loss and take profit is very, very tight. Okay, but yeah, I really wanted to show you guys this slide in particular, right? Which is to show you, how do I erase all the stuff on my screen? There's one thing I wanted to show you guys, right, which is this part over here. Ignore the title, right? So this is how you increase the probability of getting a nice setup, right? In this example, I have Ichimoku Cloud. I have Choyne, a potential trend line, right? I Choyne, a 38% retracement. I Choyne, this is an advanced method of using stochastic where you actually look at where the previous reversals happen in price, right? And you tally it with the stochastic level, right? So we notice that the stochastic levels all happens about 99%, right? So what you notice is that in this example, you have the Ichimoku, you got the trend line, you got the Fibonacci, you got the stochastic, all of it lining up very nicely at this particular level to trigger the move down, right? So you have one reason, two reason, three reason and four reasons that it's a profitable setup that's coming. Okay, right? So in these kind of examples, it works best by throwing in, it's what I call confluence, right? Don't just trade a trend line by itself. Easy things to throw in, throw in the Ichimoku Cloud. Just throw the Cloud in and you should be able to get a better gauge. Throw out a stochastic, right? Throw in the Fibonacci, throw in a 100 moving average. See how many of it lines up so that you will know that whether the trend line is a false threat, is a false breakout or is a confirmed breakout or is a higher potential of it continuing in your favor, okay? Important things to take note of when you're using trend lines is don't use it in isolation, right? Use it, don't use it in isolation. Use it with conjunction, with all the different kind of indicators and drawings out there, okay? Now, there's one thing I need to ask you guys, right? I run a quick poll if you can just share with me really quickly. Firstly, is a quick read the webinar. If you don't mind, one is to five, right? One being terrible, five being best, right? If, you know, don't worry, I won't hunt you down if it's one, right? But at least, at least tell me, at least tell me, I mean, it's all anonymous anyway. At least let me know if, you know, if you want me to improve in certain ways, share it in the comment section. I'll do my best to, if you think that I'm a little bit too fast or maybe a little bit too advanced, you want me to do certain stuff, you know, cover different topics, let me know, right? I'll do my best to, I'll do my best to help you, to address it for you guys, right? But yes, please, please help me leave this review so that I'll have to share with TickMeal each time to just let them know the gauge on how the webinar is doing, all right? And another thing which I'll be, when you're starting a course, I will send you to the link, the TickMeal, there is a particular link on TickMeal which contains some of the past webinars. Let me share it with you real quick, okay? Annapole, I'm going to share it with you guys real quick. Thank you very much, right? I think a couple of you guys wanted to see the results, right? Here's the results. Well, we got about 80, about 90% who said four and five, so thank you very much, right? Thank you very much. It's still pretty good, right? The next thing which TickMeal kind of wants to know a little bit, and I'm just going to run it over here, is that the ideal number of webinars which would be suitable for you guys, how many webinars do you prefer per week? Do you want it once every two weeks? Once a week, is it good? Twice a week, three times a week, four times a week. Just let us know a rough gauge, so we know how we can fine-tune the webinars a bit, right? Do you want us to be doing a little bit more of these webinars, right? There can be a time when there's too many webinars too, but just let me know, you can do a little bit more. I'll share with you guys that the results are so interesting, right? I'll share with you guys what you guys are voting a little bit more on. For the next week, you start small and build up, right? Start small and build up, right? That is one of the better things to do. Start small and build it up, right? Get a little bit of a track record. They may be managing some funds here and there, right? But okay, let me just end this poll right here, let you guys take a quick look at it, right? Most of you guys voted one or two webinars a week would be the sweet spot. It'll be a little bit hard for us to do four webinars a week if you're very tiring, but I will minimally try to do once a week, all right? But yeah, guys, that's it for me for today's session. Thank you very much. If you've got feedback and you specifically want to send it to someone, Maria is the person whom you can send it to, right? But thank you very much for sticking it throughout this webinar, right? I know some of you guys were asking, right? The link that you want to go to is TickMeal YouTube. Let me see if I have it over here. You want to go to Playlist, right? And let me see, you want to... I'm going to get the link for you guys. View full Playlist. This is the link that you guys want to go to, right? If you are here, if you want to watch all the previous webinars that we did, as you can see, right? We have the Introduction to Trading, you know, the Forex Trading Masterclass, right, we've got a whole bunch of it over there, right? Yeah, head over to there. You can watch the previous webinars. We'll be covering a couple more sessions moving forward, right? Thank you very much, Fora. Thank you, Marfeno. Thank you, Liam. Thank you, Clint, Zymo, Yilong. Thank you very much. Cool, Ayo Lin, Stevenson. It's great, right? It's great that you guys stuck through a webinar. Catch you guys in two weeks. Maybe next week we'll have a live trading session, right? I'll see if we can increase the number of webinars every week, every fortnight or rather every month, right? Otherwise, keep an eye out because we're going to launch our VIP room very soon. You'll be able to catch me and the other traders inside, right, to handhold you guys in this trading journey, all right? Thank you very much. Stay safe, trade safe, and peace out, guys. Thank you. We overextended a bit, but it's nice to see that you guys stuck through it all. All right, I'll catch you guys next week, all right? Next week or week after, okay? Ideas, guys. Bye-bye. Bye.