 it's been really really long since we did a webinar we have a full house right now there's a total of a hundred people in here from what I see no you guys are considered basically the lucky ones no one else can get in anymore so the room is now full okay so hair in Kenya okay where is everyone from where is everyone from where are you guys all located Toronto India the bike and actually for those of you guys who are in Canada I'm gonna be in Toronto with FX Street on I believe Thursday and Friday of in April which is I think the third and fourth of April so if you guys are in the area we can definitely catch up for those of you who are in Toronto for those of you who are in Montreal get in touch with me I'm in Montreal right now okay see how Uzbekistan was Uzbekistan that's the first one we've never had someone from Uzbekistan before great we be coming to London anytime soon yeah I'm actually going to be in Europe in maybe May or June I'm gonna be in Europe Singapore is on the list as well so I think in May or June I'm gonna be in Switzerland and Munich and Frankfurt so these are the places no no no nothing sorry no plans for Portugal yet okay so before we get started here I just wanted to show you guys you know we have some general questions that come up all the time for for those of you have any updates or by the way how's everyone doing on the pound trade is everyone following along on the pound US dollar yeah yeah how what's the what's the status with that started moving up okay PIP count 45 pips 35 45 okay okay good good good well the analysis I started to post them up on our Urban Forex group so for those of you who do not know if you just search for Urban Forex and your Facebook this is our obviously our logo and our Facebook page we have all of our webinars and everything all the information is going to be posted here including our analysis so do do keep up with us and share your feedback then the second most common questions I get is basically how do I have empty for on my Mac so for that if you you can go to blog.urbanforex.com we have that on our blog we have the entire we have video and also written articles depending on how you guys like to follow up so yeah we have MP4 platforms for Mac so that that is the next question I wanted to solve with you guys okay so let's get started here I'm gonna go back to Urban Forex because I need the indicator for pivot points work strategies for trading let me just download this pivot and we'll get started there we go okay how many of you guys use pivot points in your every day every day every day every day trading there we go yes but confused with direction I don't understand pivot points yes great for entry all the time in combination with other strategies it's gold okay all right so let's plot the pivot points up on my screen so a couple things with pivot points all right couple things with pivot points basically for those of you who do not know what pivot points are pivot points are basically mathematical averages of the previous day okay here I made a little bit louder hopefully that should help okay so pivot points are basically mathematical averages of the previous day now these are basically nothing but walls okay walls and what we call support and resistance levels okay so this is the current day okay and basically this area here is like a barrier I'm gonna put a line right there where the markets are are or should be struggling around here there's a barrier down here okay so this is for today now there's a rule of thumb that I usually like to introduce into the market which people don't usually use but I think it's very very critical to understand it whenever looking at pivot points you look at three days worth of data not just one single day so if this is today sorry if this is today this is the previous business day and this is the day before so we're gonna use all of these lines to understand what the markets are trying to do so you can see how the markets have stopped up here but there's no line here for today but there was one yesterday okay so these support and resistance levels when you combine them with three days can give you a pretty strong area of where the markets may hold okay everyone with me so far yeah okay good all right let's get rid of these okay now couple things that is very important to understand with pivot points pivot points are very very very powerful if used with multiple days and they're basically support and resistance levels of you know they're getting basically this this line that you see here is because an area that kept being used again and again on the previous day okay and it keeps getting plotted accordingly okay I'll get you guys the link towards the end is the audio gone that better yeah sorry about that I think it crashed on my mobile device it's okay okay so anyways like I was saying so the basically the the lines are basically support and resistance of all all the basically support and resistance of the previous day okay so when you use three business days you get enough lines to give you enough data of how to work with it with the market the voice is not good now one second one second one moment all right that should be a lot better okay anyways if there's any problems it you won't see any problems on in the recording just in case but here we go so getting back to our original thing so yeah three days worth of data give you enough enough information to look at now using pivot points is very very critical to understand how strong an area is now take a look here would you say this is an important area now just because there's no line there it doesn't mean you ignore it okay this is the highest point it went yesterday and after that look at the look at the how how deep the market has dropped okay I'm not concerned about how many pips that is the only thing that that sticks out to me is that it's moved more than the average from this area okay that's my concern it's not a concern of oh it's 500 pips that means a lot no it's is it doing something different from normal okay so you under you look at the area of where the main main drops and rises happen and you start to understand hmm do I have any significance in that area from before okay so now from this area I start to look at all the information I know I see an area here and here from before that is very related to this area okay it doesn't have to be exact so but we don't have a line here but we did have a line on the third day right around here okay so when you look at all the stuff it's like you're looking at this as what if the market comes back to this area and starts to react again okay so I'm not concerned that it has to react pin point to over here why because 99% of majority of the people are trying to sell this as a double top my whole concern is I'm going to start to get interested in this area once I start to see a reaction from my candles once they start showing me some sort of reaction that means sellers are coming back until then I'm not gonna just blindly sell it here because that makes no logical sense it's like selling into the face of these buyers why would you do that you know so there's no so always use some sort of logic in terms of how how the majority of people are thinking versus how you should you are gonna go about trading all right okay so the market moves a little bit higher it uses these two lines okay makes sense bounces off of those lines and then drops yeah for those of you who don't know the pair it's on the top left here it's gonna use you in CAD okay so let's take a look at any other random pair let's let's go to for example let's look at our pound dollar the one that everyone is trading right now okay this is something we're interested as well there we go here's pound dollar now pound dollar around here is when I made my call for a sell now why do you think I said the markets are gonna sell there why why didn't I say it much much before here it's the same area but why not here in this right one this big candle roots this area okay it's a good area it's it's reacted by pivot points plus we have a line up here so I know this area up here is quite strong okay my my question to you guys is in my analysis why am I why did I do this three hours later did I say it's looks like a good sell okay a lot of buying strength railway track huge pressure okay now you see all the responses that are coming in the responses are coming in based on education okay forget education for a moment think extremely logic logically the market moves up very very strongly okay if it moves up very very strongly why sell that's a beast flying north I'm not selling in the face of that beast there's no way next it tried to go down once tried to go up again now this time when I tried to go up again it's a hell of a lot smaller than when this big thing came up it tried again to go down it tried again to go up this time when it went up it started to create big big tails on top now it's actually telling me the sellers are coming in they're getting they're getting interested in this trade and that's when the sell formation came out is that I know that this is a location yes I get that you know but everybody gets that 900 million people out there get that that once it reaches here we need to sell fact is majority of the people they sell here they get stopped up they sell they get stopped up they sell because they're going for location and not logic okay so repeat after me no location okay no location stop location trading okay so once your location is reached wait for something to happen and if something does happen then get interested so there is no rush you there is no need for trigger fingers this took five hours to get ready five hours it's plenty of time to sit back put your feet on the table and think slowly and carefully there's no rush needed okay all right so let's let's move on to another pair any any pair that you guys like to watch okay US dollar Japanese yen let's take a look at US dollar Japanese yen okay here's USD Japanese yen let's let the page load give me a moment well and we'll go through we'll go through this list don't worry let's just let this load first okay here's here's what it here's now it's loaded now okay everyone stop typing focus focus what I have to say now take a look at here so first things first pivot points are plotted and I am interested in three days worth of data okay I'm starting my day with this information okay that is just a very basic for the very beginning of what I'm doing these are all these lines on all these three days are important to me okay all right now next thing that I'm looking at is what do I see I see this area here where the markets have dropped down very very strongly in the past in the past meaning yesterday okay and now from today what I see the markets have risen up now did what happened here who can tell me after this move up happened what happened stop losses taken resistance resistance hit okay so here let me plot a line here and say okay just hindsight yes this is an area obviously and everyone might be like yeah but Naveen it already happened if you can already see it you know what's the point no it's that's not what I'm trying to point out here what I'm trying to show you guys is yes it stopped from here and then what did it do it came down and did what exhaustion it got exhausted or whatever you want to call it but what I see is the market died it came down and it died so if I were to put circles on this area from what I see I see a low and I see a higher low and the markets went up again now this time it went above my highest point that I had gone before we're in an uptrend here now now that we're going up higher than this area I noticed that yesterday we had this big monster begin from here now here is where everybody is gonna sell but where are my lines at or around this area three days I have a line here I have a line here and at the very extreme I have one slightly above that this area to me is now strong because it's in relation to yesterday's massive drop that makes sense is everyone following along okay so I know the highs are getting higher and it's and it's trying to fly higher but then I also see as we're getting higher I have this big strong seller that was sitting here before let's just say he's one seller let's say it's Warren Buffett just sitting there waiting for you to buy so he can sell it okay whatever face you want to give that seller doesn't matter but here's here's how you approach the situation okay let me remove all this okay so how you approach the situation is like this the market moves up to here it goes up strong in a green candle red candle it goes up strong again in a green candle and now we are at this area so what do I do do I sell no the 80 90% of the traders are gonna sell here their location traders so what's gonna happen all their stop losses are gonna get taken out okay yeah you wait for price action you wait for the market to tell you that this is an area that sellers are interested and how do we see that is once at this line or around these lines you start to see reactions happening and that reaction tells you it's time the sellers are coming back okay does that make sense everyone with me now same thing after the drop that the drop that's happening right now okay let's delete this okay I'm deleting all this and I'm gonna explain to you the drop after that so so the market comes here and you're ready to sell now the first question that comes to everybody's not mind is if I'm selling where am I selling to it's a blind thing it's it's it's just it's hard wired and everyone to think location location location you know maybe it's coming from real estate and everyone's buying houses based on location location location and retail stores but in Forex it's not necessarily location it's the price itself let the price tell you what it's trying to do so you see this massive move down happening in your mind you know that the big buyers pushed it up from here earlier today they pushed it up here earlier today not to mention it made a higher high okay it made a higher high and it pushed it up so you know that buyers have some money okay they have some money they have some power so then as the markets are coming down around this area what lines do you see tell me all the pivot lines that you notice around this area this area here where the buyer started we have a line yesterday right there three days ago we have a line right there and today we have a line here so now that the markets are coming down I know somewhere in this area there is value there is importance here because the big buyers shot up from here and I'm taking all the lines around this area where this big buyers are because in this area is where we're gonna get some sort of reaction it's not never never going to be pinpoint because every broker the prices are different and plus stop hunting needs to happen so it will never be exact pinpoint and then take off you know that's just saying feed me from a spoon you know and there wouldn't be billionaires and then everyone losing money they would simply be everyone making money and that makes no sense okay all right so once that happens now why do you think it's not flying north let's use a little bit of logic now why is it not flying it did it is going up there is some pips to be made but why is it not flying okay Greg very good big seller earlier very very good okay what else what else can you guys talk tell me about forget all the education think logic okay it's tired okay and forget I don't want to even get into vocabulary accumulation distribution none of that stuff there are still sellers left okay time zone no time zone has nothing to do with it bearish sentiment for last three days no no no no okay alright so let's let's let's let's go into this it's good whoever tried has more points from me than those who don't try because people who try even if they're wrong they will they will succeed faster all right so here's how I look at this take a look here how many of you guys know Fibonacci not personally but how many of you guys know what how the Fibonacci retracement work yeah okay so Fibonacci said one thing basically nothing can go in a straight line without retracing okay so which means if something is going up like this it must come down 28 or 38 or whatever those numbers are or 50% before going correct that's the apps that's the general basic of the Fibonacci sequence so if something is on its way up and it comes down it will continue up again something like that but it won't be a straight one shot okay so if you guys understand this logic now which is a mathematical sequence of the universe understand this when the market went up here how much percentage do you think this is of a retracement okay 50 some people say 60 okay whatever the number that you guys think of 50 or 60 now think logic again forget the number 50 forget the number 60 forget any number all you know it's pulled back somewhere halfway and then it went up again what does that tell you about the strength the buyers have that means buyers have money they're not letting the sellers through the sellers tried to come down but then they came down only maybe halfway and the buyers kicked them back up now the second time it went up what can you tell me about the retracement after the second upward movement here's the movement it made the second time up after that when it retraced down how far did it come down 100% so who do you think has the money now the buyers or the sellers sellers that's why when you buy after this you're getting very little movement is because the sellers are taking over they're basically telling you hey whatever your buyers did we can match that we can do better so the chances are this thing is going to rise a little bit maybe go till here where we have another line and possibly drop giving you a lower high because our previous high was up here you see how we went we didn't focus on any educational nonsense that's published on the internet we put logic we were trying to understand what the market is showing us everyone with me okay good let's take a look at another example and you guys will start to see it if we do two three examples like this you guys will really start to see everything again and again and again you know repetition is key all right so let's do another pair which other pair that you guys wanted you guys wanted what Euro USD and all that stuff let me go back up where you guys had all the lists I think it was Euro USD I don't remember but Euro USD and you Aussie doll okay let's take a look at New Zealand I seen two three New Zealand's in there okay let's okay it's same person okay we can take a look at New Zealand that's fine Bill Gates wants New Zealand that's what Bill Gates is going to get all right there we go okay let it load now New Zealand previous data we have nothing to work with we don't know where the strong buyers and sellers are and all that stuff we can scroll back and look further back you know we can go and look back from the four hours and see okay where is all the buyers and sellers it's making new highs new lows I would in the new highs new lows the only logic you can use is the strength to continue now what I what do I mean by a strength to continue look here strong move up happens from here correct strong move up happens from here it goes and goes and goes and goes and goes until it reaches our three of today okay this area up here okay once it reaches all the way up until here look at the retracement that comes down what kind of percentage would you say that is very small it's a 23% 10% whatever you want to call it it's a small movement that means this move still has power to go long now when it tried to go long it's struggling here again it only got slightly higher and now it's being choppy sideways that's telling you we've hit a wall we've hit some sort of wall now what we need to see is if this is going to fall and challenge these buyers if we fall and challenge these buyers the game is turning to change does that make sense okay so there's not really much data we can work with on this one you know there is a way to still find out but I think for the sake of this webinar we're not going to look at this pair we'll look at a different pair so we have something to compare to the left okay now you guys wanted euro USD let's take a look at euro USD then we can move on to Aussie dollar I think some of you guys want an Aussie dollar as well alright here we go euro USD okay first things first three days I'm gonna market so I know which are my three days I have one two and three voila okay three days now let me start to look for areas that have some strength okay hmm got an area here I got an area here where the buyers shoot from every time okay what else do we have I have a small seller here I have a very nice seller here okay so now first things first which direction is the trend okay down why do you say down lower highs very good lower tops good good and lower lows okay so we're using some sort of understanding of how it's going down if you ever have a confusion which way the markets are going bring in a kid into your room and be like look at the charts tell me which way it's going he will not think of any educational bullshit and he will tell you directly it's going down it's going up that's it so a best way to do it is look at the charts like a kid okay so the markets are headed down here we can see the flow going down all right now now that the flow is going down do you do you notice one thing is every time it goes down like here or here it drops like a brick but when it retraces it has such a hard time to retrace look after it dropped here look at the way it retraced up it's like green candle red candle green candle red candle like it's it's having such a hard time going up but it has such a smooth time coming down it's all red candle this is is basically telling you that there is selling pressure okay when you have a strong move coming down and then a struggle to go up that's telling you somewhere here this thing is gonna smack it down again does that make sense everyone with me so when I see this that the markets have gone down very very strong they've come to this area we see some sort of reaction and it's starting to go up okay do I want to buy this thing okay no you don't want to buy you don't want to buy stuff like this it's countertrend and if it makes you help makes you remember something countertrend is counterproductive think of it that way okay you can have to end up sitting through a big mess for a long time all right so what happens is once the market starts to go up now I want to see I know that the markets have moved down very strongly and I in my mind I have the Fibonacci numbers I have okay 38% maybe 50% it's gonna be somewhere here 60% somewhere here okay whatever it is I have some sort of understanding of in this area that it can retrace to now I want to see if it struggles up to the retrace I am not concerned of location that if it touches 50% I'm gonna hit the sell button and then we're gonna go buy a Ferrari nose it doesn't work like that I'm gonna see the struggle on its way up that struggle is very important to me okay and it takes time to go up you can see that it's red then green then red then green like it's it's having a hard time getting up there now as it's getting up there I started to notice what lines do I have for my pivot points that are inside this area of downtrend I have one there I have one here and I have one here this area to me is now powerful okay as the markets struggle to get up into this area and I start to see the markets getting higher and higher and higher and then drops lower that is very interesting to me because that tells me it's time take a look look very closely at the bodies look very closely at the bodies I can actually draw a trend line right and then what happens on this last red candle it stops going higher it pushes through once it pushes through does it mean oh my god I need to sell right now no it comes back to pick you up at that same area and then it falls there's never a rush in the forex market okay and the people who rush in basically give us the money okay there's never a rush there's no such thing as it blasts and it just flies away and then you just lost 500 pips it doesn't happen like that it will always tell you before it's going okay so does everyone understand how this trade could have been caught maybe four hours ago for a sell okay we're using all of this logic together with these pivot point lines and pivot points are very very powerful if you use them with three days it's extremely powerful okay alright guys the time is coming up for the webinar any any questions any questions let's go through any last minute questions before we close the webinar in the next five minutes on which candle do we need to sell on the candle that shows you that it's trying to go beyond Linda Martin please can we get the pivot points yeah the pivot points are found on the site whoa I'm trying to find out where I was okay what stop loss or profit ratios do you use okay when the trade is basically trying to go in your way there's no you don't have to worry about recent highs 30 pips strict number none of that stuff because the trade is getting to go so your stop loss is basically our formality at that point okay because you're entering at the moment the markets are telling that they're going to leave so the chances of the market coming back is little to none if it does come back tough luck you got stopped out enter again if you have a good risk to reward regardless you'll make you'll make your money in the same moment regardless okay how can you configure pivot points for higher time friends you cannot pivot points are made for daily use so it works it's easier to see it on the one-hour chart and below usually the moment you go on to four hours it becomes a mess like this because on the four-hour charts you have only six candles to represent one day so there are some things called weekly pivot points but I don't use weekly pivot points okay does this work for scalping too I'm sure it does but I don't I don't I personally don't like to waste my time scalping you know and studying and really doing all my homework analysis for five pips yeah no way it's getting my money for five pips okay how to ride a trade for maximum profit well as this thing starts to go down for example if you entered where I have my red arrow as it starts to go down it goes beyond this line it goes lower and lower and lower and then you see a reaction okay so it all depends on how you're seeing the flow come down if the flow is smooth you're okay you can target the next areas but if it starts to react it's time to exit the strong move down is over can you take profit at the next pivot point yes you can but for example take a look at this one now if you were to take profit at the next pivot point you miss all this second pivot point movement when it moves so smoothly the thing is that babe because of location people get scared here on the close okay and what it does it bounced up and down here for a little bit but the candles are still red they continue down all the way to here so that's extra pips that's that can be taken if you trade seven pairs how do you divide the risk you you basically divide the risk based on your stop loss okay and if you're trading seven pairs chances are you cannot use a stop loss you have to use equity risk management if pivot points align very closely no trade or wait great not necessarily if they align closely I think it's a it's a strong area actually I would look I would look around for the last three five six days and see why is my pivot points so tight in a certain area what happened in the past in that in that price range chances are something took off from there okay Omar which time which time frame these pivot works best on one hour so now will you have a correlation webinar for pivots no correlation anytime soon I think correlation is still a strong topic for most of you guys the moment logic comes into play correlation will make sense until then correlation cannot be used as a strategy where a plus B is equal to C no one's gonna understand anything so that that will be like one of my worst webinars people are gonna just end up leaving because they don't understand anything so I can't do a correlation webinar yet could where we go will the webinar be available on YouTube yes nothing it will be I'm going to it's it's recorded I'm just gonna confirm that it is recorded and it will be on YouTube in the next 24 hours okay can use a similar setup with pivot points on TOS what do you mean by TOS okay no are you using correlation or no yes I do use correlation correlation is very important to me aside for this strategy that what I just discussed in this webinar it's gonna be on our forums when you go to Urban Forex and you go to the main page here is where we have trade analysis and one of them is gonna be labeled webinar and pivot points which is gonna have the recording and in there I will also have a discussion of examples and the things we discussed in the webinar so it'll be a good place to review and stuff like that okay can this pivot work on all trade trading stations no this is this pivot point indicator was made for MetaTrader but every every trading station platform has pivot points anyways otherwise you can manually plot them there's many pivot point calculators out there where you can get these numbers manually and you can just just draw them manually on your charts that's also can be done okay so that is it for today guys it is 2.51 p.m. on my time and I really appreciate all of you guys taking time out to come here hopefully this was useful the recording will be available in 24 hours until next week we'll have the next webinar follow us on our group on Facebook and see you all next week hopefully you guys can get in early enough for those of you who didn't get in early this time so the room get to the room gets full so take care guys have a wonderful day bye for now