 Hey there amazing traders welcome to yet another version of trader talk. Now this video is supposed to go out on Tuesday however I'm having to shoot this video about Wednesday morning so it's about noon Dubai time. Now the reason why the video didn't go out yesterday was because I was just actually tired and today I wanted to wake up and have a fresh mind towards the charts because I didn't want to be grumpy and tired and putting together a video and then everybody can just pretty much tell that I'm tired from the from the video so I wanted to wake up today looking fresh as you can see I look really fresh today. Now guys today before I even get into that once again I want to apologize for not bringing out video last week the reason I didn't do that was because I realized that the market was kind of like shifting okay we were seeing trend reversals I just wanted to make sure that the trend reversals were concrete before I came on here and obviously put together a video and from what I can see the trend reversals are actually quite concrete I have seen a major reversal on the euro same with AUD USD and GBP USD might be reversing as well we're going to be diving into the charts to obviously look at that we have placed the trade on euro dollar um two three weeks ago that trade stopped stopped us out for break even because it appears that the market just wasn't willing to go higher anymore and which is fine guys there's one thing I want you guys to understand when it comes to this game sometimes it is always better for the market to just either stop you out for a stop loss or break even so that you know exactly where the market wants to head to I always like situations whereby the market tells me please mr. market tell me and tell me fast okay tell me and tell me fast we've had we we had a situation with the euro dollar whereby the market was just you know threatening to go down and then threatening to go up and on now I think the market is not ready to tell us okay I don't want to go up I want to go down and that's fine sometimes it's better to cut the losses so that you can focus on the real direction and guys that's pretty much it now before I proceed any of my videos I always like to give a shout out to my students um it was actually one of the forex mastery students who actually reached out to me and said so what do you think about this this is what he's thinking he's feeling like the market is due for a reversal based on the way he learned from the forex mastery course and my teachings he's able to identify when the market is about to reverse a lot of people this is the major issue that they face they don't know when the market is about to reverse so they keep jamming jamming and jamming their heads against those trades that are not eventually going to yield them anything from the forex mastery course you know module five talks about trend reversals so we all know that trend reversals can be spotted on a particular time frame you can spot trend reversals on any other time frame there's a particular time frame and he brought that to my I'm so proud of him because he brought it to my attention like sir don't you think the euro is time for it don't you think euro wants to reverse based on um the fundamentals of price action doesn't doesn't it look like the euro is about to reverse then I check the chart out like yes indeed you actually spot on so shout out to you Josh you're an amazing guy for those of you guys who want to grab the forex mastery course the link is going to be down below as always I just want to say special shout out to you Josh because you brought this to my attention and that means you have digested the course you've taken it in and you've learned a lot from the program and I'm super super proud of you now before I also get into this forex mastery students I have a nice surprise for you guys so we're going to be partnering with a company that is going to be providing funding for you guys so funding that the funding is coming in two packages a 25k package and the 50k package yes you're going to have access to between 25 and 50 thousand dollars to trade on behalf of an investor and then you get to split the money 50 50 this is exclusively and exclusively only for the forex mastery students yes and I couldn't be more proud to be the one to provide you guys the opportunity so if you haven't grabbed the program and shot to do so the link is going to be down below so enough about the program enough about Josh enough about every other thing let's hop into the chart let's go guys hey guys and welcome inside of my screen now guys I'm sorry you can't really see my face on the webcam today because my webcam seems to be acting up a little bit I have no idea why but not to worry before my next video is out I'm going to have a brand new webcam so you can see my pretty face all over again now guys today I want to kick off with a pair of you guys I not really used to seeing that much it is the dollar index okay DXY now why do I want to talk about the dollar index now for me the dollar index really kind of helps me gauge you know what the majors are most likely going to be doing you know in the foreseeable future the dollar index is pretty much a it's a it's a basket of all the other dollar based pairs put together as one so this is the average price okay so another thing about the dollar index is if you flip the dollar index upside down it is the euro USD I don't know if you guys notice that but just look at this double top on the euro dollar here if I just go back to DXY you guys pretty much see that it's the same you can see the double top is not so the this chart is euro USD turned upside down so sorry about that now the reason why I like to look at the dollar index from time to time it's basically give me an idea as to what the dollar is going to do if I can forecast the dollar index correctly I can pretty much gauge what the other dollar based pairs are most likely going to do so from what I can see if I zoom out on the dollar index from what I can see is I can see a major double bottom that has formed now this is most likely the reason why euro USD has been able to make new highs from my last trailer talk video I was actually unspitting the euro USD to make at least one last leg to the upside however that did not happen okay so we got stopped out for a break even on that trade I wasn't too happy about it because I was actually hoping for the euro USD to to pretty much give us you know another push to the upside but that didn't happen and that's fine we can't keep crying over spilled milk so we're going to quickly do an analysis on the dollar index and this should give us a guide as to what is most likely going to happen to the other pairs right so I'm just going to quickly map out some of my key levels on the dollar based on on the DXY so if I just clone this this pretty much looks like a key level to me if you ask me so if I just take this up a little bit and I push this into the future so that being said the dollar index from what I can see this is a weekly time frame so the dollar index has pretty much I won't say this is you didn't exactly get to sorry guys my mouse is misbehaving common mouse now's not the time not the time not the time all right cool hold on one sec guys all right cool so we didn't exactly hit major support on the dollar index we came shy of this level and the market had just pretty much spun around so I'm guessing that the market actually came in and tested this minor level somewhere around here and this is the exact reason as to why this pair has reversed now I have no doubt in my mind that this pair has reversed why because this is a double bottom on a weekly time frame okay you most likely see the same on the euro dollar so double top on the weekly time frame once we see chart patterns like reversals like this on higher time frames we know that the reversal is quite concrete also we also have a trend line that has been broken I'm getting somewhere with this sorry guys so we have this inner trend line that has been broken okay so we broke this inner trend line we've tested here we'll come back down so what is actually happening in the real sense is this pair and also if I draw the trend line like this however it is with this because I like to draw my trend line twice the inner one and the outer one just to be sure and from what I can see this weekly candle has pretty much come to break this trend line level so as long as we can sustain above this the dollar index is most likely going to rally into this next blue region about here so this is the analysis done so if we come to the daily maybe we can potentially see if we can grab some trading opportunities for this bad boy so what exactly is happening right now on the week on the daily time frame is this market has blown out of here for you to get an entry for here is so simple and straightforward all you need to do is wait for a pullback use your Fibonacci a pullback into maybe a region somewhere about here once you see a bullish engulfing candle feel free to buy all the way to the upside now the reverse is the case for the euro dollar all you need to do for euro us is flip the chart upside down as you can see the same is playing out for the euro as well this is the double top we were talking about on the euro the double bottom we're talking about the xy this is it these ones this is it I'm very surprised that we didn't get here very unlike the market but it is what it is we have also broken this major trend line and I can see that next level target for this will most likely be here and then we can proceed into here so how do we trade this this trade is going to be very simple and straightforward I'm just going to be waiting for some red for the market to push back in so this is called a breakout retest continuation trade I'll be looking for the market to push into here probably fake out some traders a little bit and then start pushing all the way to the downside I'll be expecting at least a daily candle close to look a bit like this okay a daily candle close to look a bearish engulfing so I'll be using candlestick pattern to get into the trade very simple and straightforward I would need to see a bearish engulfing candle off of here and then I'll be executing myself my stop loss to come here and then my first level target will be here an overall target will be all the way down here okay so the euro dollar is the euro dollar seems to be reversing at the moment okay especially with this massive fall to the downside I was actually long somewhere around here and then the market played around played around and eventually I moved my stop loss is the breakeven and this trade kind of stopped me on either for breakeven or a slight maybe minus 15 people lost something of that sort I wasn't too happy about that I'll be the first to come on here and tell you that the euro really pissed me off but I guess it's just one of those things but I always consider the fact that at least I wasn't stuck in front of my screen scratching my head trying to buy trying to sell bunch and buy it what is going to happen is going to happen and if something wrong is going to happen let it happen once as opposed to you for instance if I didn't make money on this trade and I had it minus 10 pip stop loss and I got stopped out at least I got stopped out for minus 10 pips as opposed to people who stuck in front of their screen who probably got stopped out on seven different trades because they got into the trade don't forget this whole move when I bought here was an absolute roller coaster okay down up down or best believe you see the last four weeks was hell for a lot of traders I know I get the messages I see traders complaining to me a lot so I know a lot of people had it very rough here however the forex mastery students you guys know that in all of this we would have had only one trade if something is going to go wrong let us try and contain the downside as much as possible let us try and you know have contingency plans to ensure that we don't get sucked into this market so it was one trade for us and we held on to it either all the way to profit or all the way down to our stop loss and once I saw the market playing around here were able to break the above this level I just moved my stop loss to break even I was like you know whatever is going to happen is how it's going to happen and should be told the market did indeed come and take out my stop loss for minus 10 pips slightly below break even and that's fine so what has happened is I like when the market sometimes is even good when the market stops you out so that it can give you a clear direction as I can see right about now we have broken this trend line now I can say okay maybe this market actually wants to start selling okay maybe this market actually wants to start selling okay maybe this guy is actually having some major issues somewhere around here maybe this market actually wants to start what selling because I saw I see no reason it has it has defeated all the rules of a of an uptrend okay this market failed to come and make a higher high made a lower high than the previous high so that tells me Dapsey we're in trouble here not only did we make a lower high it's a double top once we see a double top on a time frame like this it simply means that the market is about to reverse not only do we have a double top this double top has fed the market to the downside we've broken this trend line so when you see double top and break off trend line just know that that trend is in trouble I doubt I really doubt if except except except maybe this market wants to fire all the way to the upside so the deciding point will be this yellow line like I said I'm gonna have to wait for confirmation I need a bounce off of this level like so come in here and break down here then I'm gonna be happy okay because this market couldn't come and tell you hey I actually came to test this trend line this is a fake out okay so we need to slide into here and then walk all the way back down then we can eventually start selling but I see no reason why this market should be bullish if I come on the monthly time frame let us see you see guys one thing you have to understand about forex is you see what might look like a clear breakout to you on a particular time frame might not be a breakout on another time frame if I draw this this trend line properly on the monthly time frame you will see that we on the monthly time frame this market is still inside of this trend line so it's a bit dicey okay and however if we come on the weekly if we come on the weekly time frame if I draw this like so on the weekly time frame is pretty much broken okay on the weekly time frame on the weekly time frame is not really even broken per se this market can easily tell you that yo listen you know I'm stuck here I'm stuck here okay but I'll tell you what now we have to now talk in terms of probabilities the probability of this market hiding higher is 20 percent the probability of this market coming lower is 80 percent okay so once you start thinking in terms of probability you're no longer scared because you know okay the probabilities are on my side I'm going to look for now in order for us to increase the odds of us having a profitable trade we're going to wait for a little extra confirmation from this bad boy so I'm going to simply wait for a test the outer test of this trend line sling sling sling slide slide shoot shoot shoot shoot shoot and then shoot down sales all the way down here or we can just fly all the way to the upside so the my rules of engagement for the euro usd shots are very simple test the back of this trend line in confluence with this yellow minor resistance show me a bearish engulfing daily candle to the downside and I will be clicking my cell buttons simple if I don't see that I ain't gonna be selling simple as that all right guys let's go over to the AUDUSD chart from what I can see on AUDUSD is very simple and straightforward we have a head and shoulder pattern that was that had formed at a major resistance and trend line region as well this inverse this dot not inverse this head and shoulder left shoulder head right shoulder has broken this level on a weekly time frame for forex mastery students you know this you know that we only look out for reversal patterns on weekly time frames if this chart pattern had formed on a one hour time frame I wouldn't be interested in it why because the one hour time frame is not concrete enough for us to you know say yes this time frame this trend reversal is actually going to hold because one hour time frame are used by day traders and gamblers and intraday traders so it doesn't really hold that much value but for the market to take its time this market has been inside this has been forming this head and shoulder since January six months six whole months it's been trying to form this if something takes six months to form best believe that it's this very serious guy it's a very serious guy so you know we've broken the neckline for this bad boy we've broken the neckline for this bad boy all I'm going to be doing is I'm going to be waiting I'm going to be waiting for an AUDUSD I'm fancying the downside I'm just simply going to be waiting for us to see some bearish action to the downside and then I'll be selling my stop losses will come in the middle of the range here first level targets my targets are going to be all the way down here give me a sec okay why is my target going to be here because that is a touch of the trend line okay so 4x mastery students you know if we break a trend line and then we're coming down it's going to respect the major points of that trend line so that's exactly how the market works so if this head and shoulder can hold and this breakout holds we have all this space to the downside so we have so much trading opportunity so we're just waiting for extra confirmation I'm very sorry over the last probably about two three months you guys haven't been struggling to find trading opportunities why because the market has look at this it's just been ranging it is not you can't really spot that much in this range in opportunity I know other youtubers who trade forex would tell you they have the best intraday strategy they have that strategy guys I don't care what strategy they're showing you if the market is not trending that strategy is going to break and it will break your account with it all I do here is to try open your eyes okay so that you can see you can use whatever strategy you want to use however you need to be able to know what's happening on a higher time frame what's happening in front what is the overall gist because you can have a fast car and be driving very fast in the wrong direction okay I see a lot of strategies they're very good however you have to know when you should be applying those strategies is it time for us to go I mean once this market starts trending all the way to the downside you can use whatever strategy you want to use sell opportunities are just going to work just fine okay but if you bring strategies into this sideways movement it's going to break this is the mentality I want you guys to have so this is very crucial so AUD USD and like I'm like I was saying the dollar seems like it wants to start gaining some strength obviously with the DXY reversal that I showed you guys the first child I showed you guys so if the dollar starts to gain strength AUD USD is going to fall wide because US dollar is going to gain strength AUD will fall USD will gain strength so it's pretty much in line and the last but not the least pair is GBP USD which is actually which has actually excuse me my mouse is misbehaving guys sorry hold on hold on hold on one second AUD GDP worst thing I didn't really draw that much on it this looks like a double top maybe most likely gonna come into the base of this market to be honest this isn't this this isn't the clearest and most easiest thing to interpret it's so stressful so confusing like you know look at how many issues it took to go to the upside I'm just not interested in this okay I'd rather watch out for the euro USD and watch out for AUD AUD USD and then gold gold for the fact that we're trading back down below this trend line gold is going to come here for free I tell you guys that for free watch out for gold a little something like this okay gold is coming back down to the base most likely so if I see the weekly just to confirm oh that weekly is looking terrible guys false breakout back into this black line it's not looking nice for gold oh monthly candle this is this is the June the June candle for the June monthly candle for gold is looking bad badder the June monthly candle for gold is looking bad you know so my most likely this is a this is a reversal pattern if you ask me if gold can maintain this red bar so guys let me tell you guys a little trick before I let you guys go if you see a candlestick formation on the monthly timeframe for instance this so this is a bearish engulfing candle well kind of equal to this one if you see a candlestick pattern form on the monthly timeframe chances are that for instance this is a bearish engulfing candle so what this means is that other subsequent candles are going to be bearish so if other subsequent candles are going to be bearish that tells me that subsequent month for month for gold are also going to be bearish as well simple just by looking at this I've seen a monthly candlestick pattern it looks bearish if this candlestick pattern plays out subsequent candlesticks are going to be what bearish what that means is that subsequent trading months for gold are going to be bearish as well so for gold how will I trade gold simple I will just simply wait we're trading back down below here simple not even rocket science pull back into somewhere about here and we should start seeing we should start seeing this all the way to the downside so that's it ladies and gentlemen I hope I've been able to shed some light this week my pairs of focus this week are the euro dollar so the euro dollar once again as much as I'm pissed off with it I'm actually hoping for us to roll over to the downside and then the dollar index as well and then AUD USC it's going to be on my watch list so guys there you go simple straightforward my analysis barely takes me 30 minutes to do you don't have to be stuck in front of your screen scrambling buttons I just leave my levels on here the market is going to respect my level and when the market is ready and ripe to start rolling it's going to knock on my door and tell me dabs I'm ready to start going okay so guys once again don't have to be stuck in front of your screen set your trade set your analysis and go and spend time with your family if not what this market has given to you it will take from you so guys I'm going to take you guys over to my other screen thank you for staying to the very end of this analysis am I looking at any other pair euro jp was looking quite interesting let me see I think I'll discuss euro jpy on my next uh trader talk video I don't really have proper analysis in here for euro jpy I'll definitely you visit euro jpy in my next analysis all right guys that's it for me euro USD short AUD USD shorts the rest I'm going to be staying out of it and gold shorts as well the rest I'm going to be sitting on my hands take it easy and let's go over to my other screen all right guys so there you go thank you for staying till the very end of that video as you can see the market is heading for some significant reversals um and like I was saying earlier I'm happy like reverse and inform me of exactly what you want to do and you know stuff like that so guys once again you have to be you have to open your eyes okay you have to be able to anticipate reversals you know whilst they're happening so that you're not going and you're not buying into a reversal or you're not selling into a bullish reversal okay there's a particular timeframe that I like to look at these reversals and the forex mastery students you guys know those reversals so guys if you found this video helpful drop me a comment below guys identifying reversals is the topic of today I hope you found this video helpful and if you haven't grabbed the forex mastery course the link is going to be down below all right guys take it easy and peace out