 All right guys, welcome to the recap of the pro trading strategy by urban forex This is more of the advanced course as well as a small recap. So a Very good morning to everyone We have quite a bit of people from all around that I'm seeing people from Malaysia London UK Australia Manila Cape Town, so all around all around the world and it's good to see new faces as well I'm gonna record this Meeting just in case for those of you who are still just coming in or getting in late We currently have 57 people in here right now and I really appreciate all the support you guys have given to the strategy and urban forex now This is gonna be a recap. It's gonna be approximately an hour long We're gonna go over the basics. We're gonna go over some questions that people had and Also Any any concerns towards the end, you know, we will leave some time for that so we can go through some stuff So let's get started here Okay, now some general news before we begin we did Actually did hear about the earthquake out Towards Indonesia, so our condolences from me and our team For anybody who might be affected by that to others friends families or any relatives that are already there and We really hope that everyone's safe secondly one of our Staff members has done a really good job of creating an exhaustion candle alert for empty for So which means whenever there's an exhaustion candle, you will you will get alerted So you guys can get that from the blogs on our on our site. That's urban forex.ning.com Under blogs you'll find exhaustion kind of alert Additionally since we do trade correlation we're trading more than You know seven to eight pairs at a time There's also an expert advisor, which is pretty much a robot to open your trades all eight of them at the same time and Or and close them at the same time, too There's a video explanation for that as well, and I think that the current version is version four for that So very thanks to big thanks to Roy for that Also those of you who are on Mac I know we also now have a solution for you guys how to get empty for up and running on a Mac So that's also a good progress Now let's get started here Let's open up our charts How many guys are already familiar with this strategy? I'm gonna make this This current webinar are quite interactive because I see a lot of names that I recall and But I see the other half start. I'm still brand new. So I'm gonna make this very interactive I'm gonna call out people and I'm gonna ask questions and So on and so forth Okay, so Again, yes, so how many people have Created this strategy before how many have gone through the trainings gone through the videos Okay Okay, Lea what I know you are a member of forex watchers. So you are in detailed Okay Pretty lightly gone through the webinar once, okay, we have a no we have some new new people here Joe Okay, all right watch done website and Newbie Tony cons is not traded but been through a webinar. I Have along with other methods. Okay from the recorded webinar. Okay. Okay. So so we have a mixed amount of people in here some people who have traded some people who are Who've seen it some people who just learned it but haven't traded it yet Okay, for those of you who have traded and what is your experience with it so far? How are you guys been doing? Yes, Mihaly, I realized that's you. So that that's fine Okay Made 30 plus 35 plus on the first trade Okay, it's nice Good. Good. Okay. So Let's let's go through Is the sound still bad for everybody, it's okay for me. No, it's fine. Okay I think the sounds are fine. So if anybody who has any sound issues, please log out and log back in Okay Brian welcome to the room from New Zealand pretty hard with the erratic market in vain, but your teaching is definitely helping. Thank you Okay, I've had some wins and some losses. Okay. Okay. So let's go through everything now now For those of you who are new, let's go through a little short Recap of what the strategy is about how to trade it and so on and so forth We're gonna spend a good 10 15 minutes doing that and then we will get into some of the more advanced level courses now We are currently looking at for example euro USD Okay, and what we look for is things called exhaustion candles now for those of you who do not know What an exhaustion candle is it is just a word I give to candles that are pin bars or Hammers inverted hammers stuff like this where you have a long tail and a body on one end Okay Now let me put in another arrow right here Okay, just to confirm if if my screen stops moving or if you see it cut off anywhere Just let me know I will get that fixed for you guys or my audio starts lagging also Let me know I will do whatever I can immediately okay, and so these exhaustions basically what they are are basically trend reversal patterns and also trend Continuation patterns we're gonna get into trend continuation a little bit later But right now all we're gonna go for is the basics a reversal pattern when you have a trend For example this if you look at the immediate trend here the markets coming down You see you see a little trend here. It's coming down It makes an exhaustion it a very big tail comes out means the market tries to go down But there's way too much pressure pushes it back up That's the reason why we have this small body and this big tail Consider it like a rocket if you put your arrow on top of the body. It's like a firework Okay, this just tells you which direction the market wants to go so Once you see something like that you get an idea of the market is trying to reverse You know, it's a reversal indication Okay, once this happens if it does bounce off of a support and resistance line In this case this yellow line that we see here Then we know at the opening of the next candle We can go ahead and buy and we can write it until the next pivot line now It's not as easy as I'm showing it right now to write it to the next pivot line I will explain pivot lines a little bit more in detail, but right now Let's just get the Exhaustions out of the way and understand what an exhaustion really is so let's show you some more examples. Let's go further down Okay Okay, this right here is also considered an exhaustion But not too clear because take a look at the size of the previous three four five candles And then look to the size of this exhaustion. Does it really stick out? probably not right because an Exhaustions should be intimidating to the other candles and say look at me. I'm better than you guys. I'm bigger I'm I have a big tail also, you know, so Those are the ones that we need to look out for they need to be pretty much bigger than the previous candles now For example, let's take a look at this one. These exoscients right here are all reversal patterns here Because of the way the last few candles look and how this exhaustion formed With the nice size and everything telling us the market wants to reverse Okay, let me show you some more here. Yeah, also an exhaustion here Sorry Okay, so you get the idea now. This is just a candle that has a Large tail and a smaller body the body should always be smaller than the tail Okay, if the body is equal to the tail, it's false It's called a false exhaustion Take a look at this one See how big this tail is and look at the size of the body small compared to the tail size Okay, but the last few candles that have way too much pressure Which makes this exhaustion not as strong as it should be Okay Take a look at this one This is also an exhaustion, but the last few candles are way too strong Which is the reason why you see a slow movement rather than immediate takeoff Okay, so these are some of the things that you want to look for an exhaustion now When using an exhaustion you need to use pivot points, okay, and what pivot points basically are are these lines that you see on my screen which For those of you who do not have the pivot point indicator And want to get it when you go on to our website, which is urban4x.ning.com Just go on to forums and when you go on to forums You will see the pro trading strategy and right below the video is The indicator file you can just download it and if you do not know how to install an indicator There is also a video tutorial Right there to see how you can install the indicator Okay now Moving on There we go Now these pivot points are support and resistance lines Now you might be wondering, okay, we have white lines. We have yellow lines. We have blue line Also, there's all these words on it s1 r1 p. What does that all that mean? Doesn't matter just leave that aside. Okay, just treat them as lines Treat them nothing but lines and they're just there to stop you Okay, just look at it that way. It'll be simple It'll be easy to comprehend and it'll be much It'll be much more Relaxing to look at it that way these pivot lines if you download that indicator and you install it onto your meta trader These indicators will automatically plot on your charts Now I am using fx pro demo account Which means that the server time on fx pro might be different from the server time on your mt4 Which can also mean your pivot points might be slightly off So I personally use fx pro that is my recommendation I will have demo account links on our website to get the fx pro demos from us And which will be also can be monitored by us, which is quite quite good because we can help you guys out when we see your trades So that's an option now Getting back to the pivot points now when you see pivot points always consider three days worth of data Okay, for example, let's say for example, this is today. Okay, that's one day This is Two days. This is yesterday. These white lines are period separators Which means it's we're on the one hour chart right now And then these white dotted lines that come down are just separating the days. So this is one day This is another day and this is the day before that So always look at three days worth of data Now, why do I say that is because the what we're taught to Use pivot points is only by referring to them on the current day, but that's not usually true Support and resistance likes to repeat itself, especially if it's a strong price point from the past What that means is take a look the market on this particular day. It went up came down Came all the way down here and then it stopped and reversed It never came down to the support. What's the reason why it stopped here? If you look at the day before and you actually use that line you can see that The market touches it exactly to the pin point and then turns around Market goes back up It does not go all the way to the next resistance, but it it does jump here comes back down and reverses why Resistance from the previous day also Okay So these levels hold true again and again All the time So remember always look at three days worth of data and not just one particular day Which is the reason why we stick on one hour charts Now there was a question from one of some of you guys asking can I trade this on a four hour? Four hour time frame I personally would not recommend it because the wait time is way too long And also your trade sizes are going to be much much larger Which means when you make a profit obviously you are going to be making thousand pips at a time But when you make a loss you'll also be making a thousand pips loss at a time and I I currently do not think People are ready to see thousand people losses in a single day or in a matter of hours So that can be quite Daunting when you start off with the strategy as you get better at thousand pips two thousand pips in a day It doesn't make a difference, but right now we need to train you guys to Look at the strategy get used to the numbers because the numbers will come in and out It'll fluctuate and you need to get used to that Because we're no longer working with 20 pips a day 30 pips a day And I will show you guys how to maximize profit from going from a simple 20 30 pips a day to 100 200 300 pips in a day Okay, same goes for if you have losses you you will hit those kind of numbers as well Okay, now Let's take a look here Now when we look at three days worth of data The three days worth of data also comes with a range called the guaranteed profit range Okay now Let me show you an example Let's say this is the current day one two And three days worth of data. Okay, we have three days worth of data The market's moving it comes down here and it creates an exhaustion look like for some reason Let's say it's a perfect exhaustion and you say, okay, good. I'm going to enter long now How long can I go when you look at the last three days? Okay, one two three. What is the next line if you go along? What is the next line on its way closest line to the market? Okay This one of these lines are the closest ones to the market. Let's if we draw them all Okay, we draw one there we draw one here And we draw one there okay So If you go along you know from here all the way to the first line that is called the guaranteed profit zone There's nothing stopping you that's on the way there You're gonna go ahead and accumulate those tips no matter what because you're looking at last three days worth of data You know, there is no support and resistance on its way to stop you Okay This only holds true if you have an exhaustion bouncing off of a support or resistance line Okay, if you do not have a formation at a support resistance line This guaranteed profit zone does not exist These Exhaustions that are created are created because of Changes in direction by the bigger players now I'm not going to get too much into detail into all that stuff. I will hold another webinar on Psychology and the market momentum the way paperwork are processed and all of that stuff But as of right now that that's too much for you guys to handle quite yet We will make that another advanced course and you know, we will get you guys ready. Don't worry Okay, so You guys get the idea now Well, you get an exhaustion around a pivot line you make a turnaround and you go towards your next Your next target Okay, let's take a look at this one Where is My arrow there we go We have an exhaustion here Okay, we have a resistance line right around there Get an exhaustion and the market starts to move You know, at least you can reach told the next line, which is right here from here to here It won't stop you. You can go Okay, now I see there are some questions. Let's go through the questions right now um Three days including of current day. No current day is one day current day Previous day and the day before that Okay, JD is saying so the three days include the current day as well. Yes, it does Tony is asking is it only Ever a sell exhaustion off our pivots and buy effort. No, there's no such thing as rms pivots Treat them as lines nothing else call them. I call them pivot lines completely Okay, they can bounce off of either ways because what happens is let me show you Let me get you a good example so you guys can know What we're talking about here now take a look here Markets moving up this right here is resistance Okay It's resistance here. It crosses through the resistance and now it's become support It goes on to the future and again it tries to reach support So it's not necessary that it's support or resistance or anything like that Just treat it as what it is now the same thing with this level here. Take a look It's resistance here, but then it once it crosses through become support You can see here So this happens again and again. So just treat them as lines nothing but a barrier line Okay, uh, does the exhaustion candle? Um Drop the screen frozen. Okay. Let's uh restart the screen sharing Okay, let me know when the screen is back up And boom we're back Perfect. Okay. Um, I'm sorry. Did we have any any questions? Uh before I got disconnected I think uh every webinar I get disconnected. It's like tradition now. So Um Okay, let's take a look through here. Uh questions questions. Uh, okay All right, let's let's continue here now We got the point of correlation. We we are understanding Also our pivot lines So the pivot lines basically hold true as support and resistance. I think the last question that we had was, uh, um The r1 s1 again, so don't don't worry about the r1 s1 those words It is all just a a road block Okay, if you're in in the market and There is a line coming up. It is your road block. If you do cross that line. It is now Uh a block that's behind you Okay, so now We got that out of the way now. Okay, so we are we know what exhaustion candles are They're just pin bars or hammers inverted hammers, and we know what Pivot points are how to use them how many days worth of them and Last but not least we know that Uh Now we know that where we have our guaranteed profit zones now We're going to talk about maximizing the profits now Okay, let's uh Let me get this all here Here you guys Okay, now we're going to discuss maximizing profit. So so you know, you can get 20 pips out of this one pair Okay, for example, uh you know, let's I'm giving you guys a nice trade so you guys can take a look through and follow along Okay Okay, so let's say for example, you enter this exhaustion Okay, this exhaustion forms you want to go short and if you're looking for the next three days Last three days the next level is here. There's nothing stopping until there Which means what how many pips is that? um, you're guaranteed pips is approximately 50 pips Pretty decent number, right? but the thing is that once you do your analysis and If your analysis is correct For the most part using the strategy your analysis is going to be correct because you're catching the right trade And you're catching it at the right direction. So if your analysis is correct You look at correlation. You look at other pairs that are also doing the same thing How do we do that? Let's take a look. There is a website. You can go to omanda Google this right here for you guys um My google is a bit slow Because i'm out in china Okay, you can type the word currency correlation Oanda okay Once you type currency correlation. I wanted it's the first link that you see you click on that it'll open and I will show you how this works okay, we will uh Put this on our website as well. So you guys don't have to go here all the time Now I use something called a heat map now If I click on euro usd everything that is red Goes in our favor together. So if I'm selling euro usd. I'm going to sell all these other pairs that are red if I am buying I'm sorry if I'm selling euro usd then all the ones that are blue. I'm going to be buying So that means usually us dollar cad and us dollar swiss franc go opposite of euro usd Okay, so there are there are seven pairs that I like to follow and If you you guys might want to write this down if you guys don't already have it And I recently added the eighth pair Okay, euro usd pound dollar a euro yen Aussie dollar New Zealand us um What am I missing here? One two three four five and gold okay Which is x a u usd And the pairs that go opposite of these are us dollar cad And us dollar swiss franc these are the pairs I follow If I take a buy in all of these I take a sell in these two if I take a sell on all of these I take a buy on these two All I need is one or two pairs to give me the trade Once I get the trade from one or two pairs. I enter everything because The main thing is what I teach you guys is to trust your analysis Once you trust your analysis There's nothing stopping you Okay, especially if you've done the research you've done the background check on the pairs that you're going to be entering We've done your due diligence and it's only once per hour. You don't have to sit in front of your screen all the time The we're always looking at the one hour charts Nothing less and the one hour charts basically at the five minutes before the candle closes you can come take a look at it See if there's an exhaustion see if the correlating pairs are doing the same thing Then you enter everything Okay, because you've done your research and you can trust it so you can enter more than one pair that are correlating Which then what it does is maximizes your profit your 50 pips that you were going to gain here Suddenly it earns you 300 400 pips and that same matter of time if not less When you have more pips in less time You will close the trade Okay You will end up closing the trade because if it takes you three hours and you're making only six pips There's a chance. You probably won't close the trade But if you're making suddenly 400 500 pips in a matter of 20 minutes You will end up closing the trade a little bit sooner than later Because your mind is satisfied and that's that's a psychology course that I have to give you guys But it's it's good. Um, and you you guys can find this course on I believe it's uh Forex pros.com I did a webinar with them on forex psychology for their viewers So forex pros the news publish and you can check with them and you'll you'll find the psychology over there But uh, yeah anyways um, moving on so Correlation can help you add profit and also reduce risk because if you have a trade for example here And you buy and it doesn't go in a buy as quickly the correlating pairs might So in one pair that you actually did your research on is getting you five pips in profit A correlating pair might just shoot off suddenly and get you 300, you know so With the correlation or with correlating pairs, you're always a step ahead Also, you're always heads at a certain time because sometimes if the market goes against you Because of your correlation some trades might actually go the other way and it might save you So you have a hedge and a, uh Profit increase at the same time, uh, let me just turn off the noise of the chat room. So Okay, um questions. Uh, do you enter the trade On the next candle or do you wait for the retrace? We enter at the next candle Okay Uh, what if the correlated pair shows the opposite? Okay, when you have anti correlation, you need to stand aside. Good question Now for example, let's take a look here In the last one week Aussie dollar is not correlating with euro USD But over over the over the long period of time between three months to two years. It has been Okay, but Aussie dollar and new zealand dollar Have not been correlating with euro USD as they usually do Okay, but for example, let's take a look at, uh, Swiss franc Okay, these euro USD and pound dollar take a look they always go opposite of Swiss franc Always one week one month three months six months one year two years. They always always always go opposite So whenever you have a trade on Swiss franc, if you're selling you buy on these currencies If you're buying then you sell on these currencies Okay All right, uh next question. So, um So in that example you would Uh I have to be in a trade for approximately 13 hours and carry I'm sorry and carry the trade Over to the next day that particular trade. Yeah, you would have to but that's a close of day I I particularly trade during the london hours and up to mid u.s session Those are the hours that I personally like it's not necessarily true for, um, everybody you can trade at any time Um, as long as the markets are open If there is a bank open somewhere trade if there is no banks open it's closing time Um, like there is that dead zone, uh after the asians Asian session Or the us and before the start of the asian there's like a two or three hour dead zone Don't trade there Because nobody is moving the market other than supply and demand just by the consumers So that's why all these ea start coming out scalping, uh on these dead zone times. It's very very risky Okay, do you enter on the market or limit order? Uh, walter asked, uh, walter enter on market Okay, and uh, that's why also we have this batch order, um on On our website. So those of you instead of actually entering all the trades one by one You can actually just activate the script and it enters all the trades for you correlated So which is really really nice Okay, for those of you some of you I know do not have gold Uh available because I know a lot of the us traders do not have gold available to them So what you do is you click x a u usd And you see which ones are red Okay, red means they correlate with it ozzy dollar correlates with it new zealand dollar correlates with it um Again, don't just look at one bar. Make sure you see an overall okay And euro yen has been going opposite the last one week So x a u there is no substitute as of right now There's mixed results everywhere. So Um, and we already have new zealand dollar and ozzy dollar in our list So if you cannot trade gold Tough so far. Um, but when when there is a correlation, I will let you guys know Okay, so continuing um Now going into the little bit more advance Advanced things now we had some questions here. What what what questions did we have we had currency strength? Okay now Many times you guys have seen me uh talk in the chat room And those of you who are also members of my uh forex watchers team You guys know that I always talk about something called a leading pair and lagging pair. What does that really mean? Okay, let's go over that That can actually make a big difference in uh in a trade. What happens is It's something like this the market is currently moving. Okay When something like this happens, uh Like this right here that has a decent movement and has a tail and everything The market starts to move everything usually mimics Some go with it at the same speed some go slower Okay One some who go ahead Now for example this uh, let me show you actually a better example So you guys don't get confused Let's look for an exhaustion a clear exhaustion. So everybody knows what we're talking about Okay, um guys Regarding the time of this webinar. I'm gonna exceed the time. Okay. I'm gonna I'm gonna go past the one hour time time frame. So um Let's see here Okay, so you have this exhaustion here this exhaustion forms bounces off of this line and you're gonna be going long Now this particular candle the exhaustion is forming Okay, but if you look at another pair maybe at this time you probably see something similar to this You see a a massive rise on a correlating pair. It's it's gone up so high So, you know now the u.s. Dollar cat is a lagging pair because it's catching up to this It's this sort of movement. It's not there yet now Once that happens You watch the lagging pair you see if it's creating any exhaustion And you have an idea by looking at the rest that okay mark. It's gonna do something. So let's take a look at this What does this really mean? When did this happen this happened on march 23rd at 11 o'clock on my screen? Let's take a look at march 23rd 11 o'clock Let's see here March 23rd 11 here we go 11 o'clock same exhaustion here Okay, there we go. So Also correlating pair. They both want to go along u.s. Dollar should be going short for march 23rd Um, let's take a look at march 23rd Scroll scroll scroll There we go march 23. Okay, same thing 11 o'clock. Where is 11? It's right there Okay, as a correlating pair it wants to go opposite And you can see also it's an exhaustion. So When you have this thing you've done your analysis only on one pair But you know due to correlation Everything is going to move with it Okay, so when you have your uh analysis done you have the analysis ready Don't just take it on that one pair take it on the rest trust your analysis You'll do fine and you will in fact make a lot more profit than you can ever imagine so Now in this particular case there is nothing that's leading or lagging because everything looks the same Okay, but in certain cases when you have an exhaustion for example like this one The other correlating pair might show something like this Something that it has a small tail, but a large run like this It's kind of gone all the way out Okay That becomes the leading pair means everything is going to start to follow that it's already left the platform And these other trains are catching up to it And that's when you know that okay mark. It's starting to move jump in on it Okay, you will start to see this before the close of the hour usually and Whether there's news or not this will go in your favor Because usually a news movement always always always has What what's a nice way to put it? There's always people Who trade the market who know what's going to happen on the news to put it in a nice way? And you can always see this in the market live in front of you. So Um look at the charts. No need to look at the news And again, that's that's that's my way of looking at things. You can look at the news. I'm sorry, but I never watch the news whatsoever because what you see on the news and what actually happens in the market is always always different And you always wonder why Okay, so continue on um Okay So leading pairs and lagging pairs keep an eye out for them And I will see if I can have some more examples on our website for leading pairs and lagging pair examples when I can't seem to find the one right now But when we do I'm going to take screenshots of it and share it with you guys All right, uh currency strength. Um that that goes with leading and lagging You can tell which strong which currency is stronger at what moment Okay, um We have a question. Um Let's take a look here Once you keep an eye on them, what do you do with them? Uh keep an eye on what Tony? Um the leading pairs and lagging pairs It tells you that the market is going to go in that direction for sure And the lagging pair is a good way to get in on it Okay, now another thing that can happen the the leading pair for example if the market is Uh in an exhaustion like this, um, let's just continue with that one that I pointed to an exhaustion like this There is one chart that's already There is one chart that's already gone down like this The correlating pair has already gone way too fast and this one's moving very slowly Like that the next candle is moving very slowly And then you start to see an exhaustion form on the bottom on the other chart You know that this this move for this currency is over That means there is way too much pressure to go north Does that make sense? So you know that the move on this currently currency pair is going to die out soon So it doesn't make you Somebody who's reading out of a crystal ball You're just actually just looking at other pairs and you get to know what's actually happening in the market This is called a bird's eye view Okay, never never never look at just one currency pair because that will Not give you the complete picture of what's going on look at different currencies that are working with that pair And you you get a better idea Okay, so Moving on forward now What else do we have here? We have we've gone through correlations support resistance. We've discussed with pivot points trend continuation patterns. Okay, this is The money maker during trending markets Okay All right, here we go. Let's take a look All right, so these are exhaustion right here That tell you a reversal in the market Can anyone tell me what they might think a trend continuation pattern is what what do you think it looks like? Any guesses While I find one There was one that we were looking at Up trend pullbacks, uh, george says, uh, okay, we got a lot of responses one second Let me just look for one and then we'll uh, okay. I see a very nice one. Okay, so Let's take a look here now um Okay, higher tops and higher bottoms Okay, no wicks upside down exhaustion. I think you said yes, very good john Um, totally an exhaustion candle pointing in the trend direction. Very good. Totally. Totally. I'm sorry if I'm saying it wrong Um, mihali says exhaustion candle that shows the same direction as trend. Good. Okay. Now. Let's take a look what it means All right, this right here is a trend continuation pattern The market's going down. You can see a sharp movement down Next candle opens it retraces makes a big tail Comes back down and closes. Where does it retrace to? It retraces to your pivot line So how many pivot lines does it retrace to one? two and three Okay, do you think this is a good trend continuation pattern? Yes, it is Market continues down These trend trend continuation patterns are quite strong and they can be quite profitable Okay, these are all trend continuing continuation patterns here this one This one and the one next to that that one these are trend continuation patterns Okay, it reaches a resistance lines and the trend continuation pattern stops So can you use it alone? No, you always need your support and resistance line That's all you need in the market is your candlesticks and your support and resistance and nothing else Take a look at this one You might be thinking oh, but this one didn't work. It actually did It's a trend continuation pattern How far will it go? Again three days worth of data right here is the next support line and it bounced exactly from there and turned around But people who do not know this information might just be selling selling and selling and hoping that okay Sooner or later it's going to come back and it never does You know and that's when you you take a large hit so Knowing all this information really really helps now Let's let's continue here Okay, another trend continuation pattern that's bouncing off of support and resistance right here Nice downtrend market has a trend continuation right there Which bounces off of yesterday's pivot line goes all the way down to the next level And then turns around So these trend continuation patterns have quite a bit of money to make off of too And especially if you use it with correlation, it's it's quite nice Okay, so does does everyone understand a trend continuation pattern so far So Sardar says so exhaustion candle only give information till next pivot line No, not really exhaustion candles just basically mean a reversal in trend and Once you know the reversal in trend You just know when to exit the pivot lines just help you knowing when to exit or where the halt is coming up Okay. All right. Good. Good. So we are On track so far any questions stop me. Okay false exhaustions Let's discuss that a lot of people had questions about this. What is a false exhaustion? Let's discuss that this Right here Isn't a false exhaustion did it work? Yes, it did. But is it a real exhaustion? No, why? Look at the way the candle is shaped The size of the the body the size of the tail they practically look similar Okay Now when you have something like this and then you compare it with the rest of the pairs if you have something similar if not uh Something totally different false exhaustion Also, take a look at this one This is also a false exhaustion. The body is too small and the tail below it is bigger than the body You need to have the body in one corner. You can have a tail, but not too big The body needs to be in one corner Okay, so now Question is Any reason not to take the trade even after an exhaustion is formed? Yes, when you have a false exhaustion do not do not take the trade Okay, can you go over trend continuation again? Please? Yes, we can okay. Let's go let's go over them again Now Let's take a look at uh Some train continuation patterns here. Let's see if we have something on the current market. So you guys will be more familiar Uh recent markets here Here we go Market is flying up And a trend continuation pattern Where is it bouncing off of our support here? This has been a support Over here it's been a support over here and also a support over here Market moves up. We are now long and how long are we long? You guys already know the answer to that the next Pivot line in the last three the in the current day to the last two days 30 pips of guaranteed profit with nothing stopping you in between Okay, you use correlation that 30 pips will become 200 300 pips Okay, does that make sense? Okay, um next question is uh Ram says uh Oh, sorry Um Kalin so we stay in a trade instead of stopping at confirmed profit if we see trend continuation on all correlated pairs Yes, if you see a trend continuation now, when do you know you get a trend continuation pattern? This is how you know This is where the money comes in The bigger money comes in I guess The market's moving Yeah Let's take a look. Let's find you a good good good good example So it's easier to understand and then in due time you'll start to see it unfold and you won't even have to Actually look for them. You'll start to see them automatically Um, let's see I need an exhaustion with a trend continuation to make it look Okay, as I'm looking for that. I just want to give you guys a heads up on something If when you see an exhaustion that's created and the market turns around and it starts going in your favor If you see tails forming on the other side Exit soon Market is coming to an halt Okay, start to exit soon Okay, so we have some trend continuations here Okay, market goes up comes down And let's put a arrow on our support right here for three days This is the current day yesterday day before Okay, let's make it today. Okay, here we go current day yesterday day before our support line Trend continuation market moves up comes down You know where you can hold your if you hold stops, you know where you can use our stops As you see these trend continuation patterns, you know when you can continue to stay in a trade now Same thing applies. Let's take a look over here There is a trend continuation pattern, but it formed after this Okay This candle opens When do you know when to enter this trend continuation pattern? Let me explain this candle closes right here Next candle opens It goes up It retraces It retraces to where? Support our resistance line right here starts to come back down And then it closes down here. You see this pattern and you know, okay It bounce off of that thing. It's traded a trend continuation pattern We're golden. We're gonna sell You sell it goes up again. Do you panic? No, because you know how far up it can go It's Once you take a look at all the support resistance pattern everything is in your hands You know how far up it can go It stops there turns around another trend continuation pattern Now our support has moved to here our resistance. I'm sorry and your target levels are now here Okay Target level happens it crosses through you can choose to exit or you can choose to hold on if you see a trend continuation pattern on the candle Proceeding that next candle opens up you wait You wait for a retracement to go up to create a trend continuation pattern, but that doesn't happen the market just shoots down More profit But if it starts to retrace once it starts to retrace and it goes up if it crosses the previous candle Exit. Okay, let me explain what that means. Um Show you an example when it crosses the previous candle Um, let's see Okay trend continuations here Okay, one two three market goes down goes down And we have a halt here exhaustion and it crosses above the previous candle exit If you haven't already exit did you touch your support? Maybe maybe not But the next candle started to go above exit. This exhaustion should also give you a heads up exit Okay, does it doesn't make sense? Does it make sense to everybody? Uh, john does leading pair determine where the trade trade is over? Uh, it reaches the next page. Yes If you have a leading pair that's reaching its pivot point quicker than the one that you did your analysis on exit everything Because there is a reason why the leading pair is moving and that's the reason why your pair that you did your analysis on is moving It is not the sole reason why it's moving Okay, you do your analysis on one pair and it moves, but it's not because It's a news on euro or it's a news on dollar. It might be because there's something happening with gold And if gold is reaching the support resistance before your pair exit And if you've already done correlation you've already made your profit doesn't matter exit Does it make sense so far to everybody? Everyone's still with me? Okay good Okay, is your usd's uh, if your usd shows bullish hammer and new zealand usd shows bearish hammer What do you do you stand aside? You have anti correlation, which is the reason why we last week all anti correlation It's been rough even for me. Um, the whole trading of last week was not so good for me either. So What you have anti correlation at times, that's that's fine. That's normal. Uh, it goes away Okay Tony, uh, say that bit again, please. Okay, when you have anti Do you you want me to repeat the anti correlation part or something else? Okay, um, well, I think you're talking about anti correlation. So tony from australia When you have anti correlation if one pair is going one way and the correlating pair is going the other way stand aside Stand aside About the leading lagging. Okay, tony you're asking about the leading lagging pairs. Okay You enter. I'll give you a good example What pairs do we know that correlate euro usd correlates with pound right? We all know that euro usd goes down pound goes down euro usd goes up pound goes up So we all know that so if euro usd is going down, you've done your analysis You see for example a trend continuation pattern and you're like, okay, I'm going along with the sucker Um, or I'm going short on this particular cell I'm selling here the next trade It's moving slowly You know you sold right here And it hasn't sold much on the next candle, but on pound. Maybe you might have something like this Something that's moved dramatically and it's reached a Uh pivot line. What do you do? Do you wait for this one to come to its pivot line? No, you exit Because chances are you've already made a ton of profit. This one might be at zero or even minus two pips. That's fine You've made your profit from the correlating pairs that have already led the market Okay, so this is why leading pairs and lagging pairs are important to watch Lagging pairs gives you a heads up that there's a trade coming Leading pairs gives you a heads up that there's a trade that needs to be closed Does that make sense? Okay, so Let's take a look through. Um Okay, good. Good What is the website with exhaustion candles indicator and correlation? Uh, the website address is here urban4x.ning.com Okay, now that we have this information, um Okay, there are quite a few people in the room now now. We're gonna flip things around. We're gonna make this interactive I'm gonna start Picking on people and making this educational. I'm sorry if you hate me, but uh It's the only way people learn is by doing Okay, it's easy to sit here and watch me say all this stuff Uh, especially on market. That's already happened. It's closed market. Obviously. I do this live live analysis hour by hour For my members in 4x watchers In fact, we have a promotion right now whoever wants to join 4x watchers.com For the first 20 members who joined the monthly membership program. Uh, we are given them my conference room access Okay, so you will get conference room access without going for the quarterly subscription Again, um, I am trying to make a sale there. I'm sorry if You guys don't like sales pitches, but uh, it's what keeps urban 4x alive Okay, so continue on moving on forward now I'm going to pick a trade. I want you guys to tell me if it's a good exhaustion if it's a bad exhaustion And what pairs I'm going to be trading with and also Once we find out what pairs we're going to be trading with Um Where am I going to exit also? I want you to give me the full plan enter exit Which pairs you want to trade and why I want all that information and the market is currently moving really strongly Let's take a look what's going on. Let's take a look at the current market real quick and then we'll find out Euro usd is moving pound is moving Okay pound What do you see right now happening in pound? What what comes to your mind when you look at pound right now? Okay, let's put all these lines here You see that a trade is potentially forming for a along Okay Right everyone see that you see a trend continuation pattern possibly forming Candle is still moving. We cannot trade this. We have to wait till the candle closes We have to wait for additional 28 minutes to reach the top of the hour to see what happens here But so you have an idea that there is a possible long coming up Let's take a look at euro usd It's already going up. It's leading. You know, it's going to go along. Okay So analysis number one pound will go up euro usd is already leading US dollar cad Already leading it's short already US dollar Swiss franc. Okay. Now we're having problems three pairs already took off pound. It did not Aussie dollar. Okay, there we go. Now Aussie dollar was also catching up trend continuation pattern New Zealand dollar. Okay, there we go trend continuation pattern Okay, euro yen took off and finally gold gold now is going south It's selling Gold usually correlates with euro usd and pound and euro Yeah, euro usd and pound it usually correlates with what does that mean? At the top of the next hour you want to look for a possible exhaustion on gold You want to look for a nice clear trend continuation pattern on pound a trend continuation pattern on I think it was Aussie on Aussie That's when you know, you're going to go along Um on all these pairs and short US dollar cad US dollar Swiss franc You know your exit levels Um at the next pivot line, which is here up here I'll show you that So it's a nice free flow of the market to move Okay, so going back to the interactive trading part now. So You can take the trade without gold. Of course, many of you cannot trade gold anyways Because you're in the US and that's perfectly fine. There's nothing wrong with that Just that sometimes gold gives a lot of gain But once when you have a loss it also it gives you a bigger loss as well. So it's so it's a Double-edged sword if you want to call it like that. Okay All right, continue, um Send questions. Yes, uh Questions are not coming because uh, I don't have this attendee room disabled I left it open for in case anybody wants to chat with anybody privately to ask them anything, but uh, Let's just focus. Let's not do that. Um, okay now The count is still looking good for now, but let's forget the current market. It's still a good 25 minutes away Uh, let's discuss a particular trade and let's see. Uh, let's see. Who do we have in the room here now? Let's Let's see here. I'm gonna pick on three of you guys. I want you guys to get me an analysis Okay Okay, rom you're volunteering. Okay, so we'll pick four. We'll have a volunteer also. So rom you are one of them um We'll choose, uh Joshua Buckley We'll choose Judah from London and We will choose Richard, um, briley from the us. Okay Here's the here's the question here. Let me get you a nice pair And we will do a complete analysis top to bottom. Okay This is yesterday's market. Yeah 11th of april 11th of april, you're looking at new zealand dollar us dollar This particular exhaustion. Sorry. Let me put the truck back This particular exhaustion forms What do you do? candle closes what happens? Okay, first thing's first. Okay, rom What once this exhaustion happens, what are you gonna do? Check for correlated pairs. Okay, um Uh, I believe judo was the other person. Uh, can you tell me which pairs are correlating with new zealand dollar us dollar? euro usd Okay, euro usd correlates pound correlates very good Okay, Dave is volunteering. He says five pairs Okay, good. Good. So we have our correlated pairs Cad not. Okay. Good. Cad as actually goes opposite. So here are the pairs. So new zealand dollar if we are going To sell on new zealand dollar, we are going to sell all of these and we are going to buy over here. Okay, so Let's write this down. We're gonna sell. We're gonna buy on these two. Okay Let's see how long does it actually take to do an analysis people get freaked out like, oh my god I have to spend so much time on the screen. No, no, no I'm making this interactive. Let's actually calculate how long it actually takes to do an analysis and how long It takes to see the profit come out. It is now 738 on my screen. Okay, let's continue So we take a look at New zealand dollar. We see there is an exhaustion forming. What does this exhaustion mean? Is this a trend continuation pattern or does this mean the mark is going to reverse? Thinking that you cannot see the future but just avoid the future Um Okay, this exhaustion candle Is quite beautiful tells you that look booyah everybody. I look nice. I'm bigger than everybody and I stick out Okay, nice long tail small body reversal good judo. Okay, so it's a reversal um The reversal takes place bouncing off of how many resistance This is day one Even the third day bounces off of there and over here Now whenever you're using support and resistance don't always just think that the tail the tip must touch the resistance No, no, no The body as long as the body is on the other side the tail can go as far as it wants That's fine. The body is the one that we're worried about The body is below all these resistance Okay, you can see the last five candles never crossed above these areas Now What else do we know take a look at yesterday the day before that this level has held true also It's it was support before Then it broke through and now it's resistance. Okay, so we have A lot of analysis that we just looked at. Okay. Okay, so we're gonna sell So we sell let's take a look at the time we sell at the opening of the next candle at 1800 Okay, but before we sell let's take a look at the other pair at 1700. Do we have exhaustion on the other pairs? Okay, 1800 that time was uh 18 1700 sorry 1800 was the time when it moved. Let's just reconfirm the time Okay, the candle will have happened at 1700. So let's take a look at euro USD yesterday at 1700 Okay, does that look nice to you guys? For a sell this candle right here big long tail The candle on the bottom Okay, let's put our lines in Boom right there the next candle obviously opened below that Okay, euro USD looking good. Let's look at take a look at one more pair. Okay. Just for the sake of analysis Take a look at one more pair Pound 1700 pound 1700 does that look nice for a sell? Is there any barriers on the way? Okay, there is a barrier on the way, but the next candle opens right above it Okay, so we have one barrier on the way. Let's take a look at the other pairs Do we have a buy on USD CAD at 1700? 1700 is this candle. Okay any barriers there Candle opens here and the barrier is a few pips away. Okay, so all in all everything looks Great to enter So you enter the trade Now, where do you exit? Do you exit? here Do you exit here? Do you exit on this yellow line? The first one do you exit on the second yellow line or is there a different criteria? What do you do? Okay, rom says the first one. Joshua says first pivot line. Okay, any other guesses John John Berry from the uk says three days Sardar Udin from seldom says first JD from Perth says that's your guaranteed profit Okay Where do you exit? That's the question Million dollar question. Where do you exit more guesses more guesses? Half position on each line. Okay, uh, Judah from I would look for exhaustion candle on lower time frame. Um You can do that, but avoid looking at different time frames. There's no need That will only save you few pips and it's not worth That struggle for a few pips because you usually when you're struggling for a few more extra pips you end up giving back more Okay Dave says first line is guaranteed Reza Ali from california says uh first pivot line in the past three days Okay, nearest line the first three days. Okay, everybody With their analysis is correct. Okay, I'm not gonna say no, it's not correct because from what you've learned that is correct But you need to understand when the market is moving You need to look at all your pairs You need to look at the leading pair Which pair moves the fastest on its way to the next pivot line? That is where we're gonna exit If euro usd On the next candle take a look at the next candle has it reached it's uh Um guaranteed profit zone on the next candle Here is the guaranteed profit zone for euro usd. We enter it here the candle closed. Have we reached here yet? No The next candle actually shot upwards. We started to lose profit But why we haven't reached that are we gonna reach there? Yes, we are no matter how doubt we are are gonna reach there But it becomes a risk. Let's take a look at pound Okay, we entered at the next candle, which is this one has it reached its guaranteed profit zone, which is here No, it hasn't next candle turned around. Why? so What you need to do is always always look at The next candle and see which one is the leading pair And once the leading pair actually touches its Closest guaranteed profit zone exit everything That will save you Does that make sense to everybody? And can you guys actually see how everything works together? You cannot just look at one thing Everything works together beautifully Okay, so now Um, look Aussie dollar yesterday also At 1700 we had a sell we sell here. And what do you know Aussie dollar might have been the first one to close out from here to here Okay, don't think that you're gonna get in one pair. You're gonna get three four pips. It doesn't work like that Yes, you will get a few pips on some pairs But there is going to be two or three or four pairs that just skyrocket And when they skyrocket they put in your pocket 50 pips while the others give you two pips three pips Some of them might even give you minus five pips Okay, uh john from uk is saying, uh, so if a correlating pair is very near, uh, it's next pivot Do we doubt entry? Um, yes, but that also depends on the strength now If there is one pair that the exit is nearby And all the other pairs have a free flow. There's a lot of space You can still enter the market because the one that has the exit nearby might not be the leading pair Okay, does that make sense? But if if you see everything has an exit nearby avoided, okay, and the word doubt Should not exist in a trader's dictionary Because as I explained in all webinars when in doubt do not trade Okay, only trade when you know everything Is going to go your way because you trust your analysis the moment you doubt your analysis You should not put money on it at all. It's not worth it Okay, so what if all pairs are similar in clear landing pair? Okay, so what if all pairs are similar to no clear landing pair and then where do you exit? Uh, tony can you rephrase that again? I don't think I understood that question Uh, so darudin from seldom says so once you enter the trade you follow the leading pair Yes, you look for a pair that reaches its exit first Okay, okay, Sam Adams from Vienna says when in doubt stay out there. You said it Sam Okay, butterfly from Australia says rather be out of a trade wishing I was in than in a trade wishing I was out Yes, that's I actually read that quite a few times in our chat room to it. It's a good good good line Okay, if all pairs are similar for example No leading pair where is the best place to exit if the pivot points are all nearby If all pivot lines are nearby you shouldn't be entering the trade to begin with I just got the question. Sorry For example, if if your your next pivot line is five pips away and and all your pairs is three to five pips away Don't enter. There's no need Okay, because that's becoming a risk now Okay, does that make sense to everybody? Okay now It is now 748 so it took us exactly 10 minutes including questions and answers to go over the analysis Do you really think you have 10 minutes per hour to spend on analysis? Okay, everyone has that kind of time It's not even 10 minutes. It takes you five minutes And once you take that time and you do your analysis the best thing to do always is write it down Write down which pairs do you think is strong? Write down. What do you see? Write down which pairs you're going to take and write down your potential exits or put a line on your screen And see which line touches first Okay Arash from UK says but regarding with oanda correlation yesterday NUZ just been correlating the the goal. Why should we take euro oz dollar goal into account? Okay, because when you look at where is the current correlation? Let me open it. Okay now Let's take a look at new zealand dollar. Okay everything that is red will go with new zealand dollar Okay, and everything that is Blue will go against it. You can see just the last one week We've had opposite sentiments Which is fine, but usually new zealand dollar gold go together new zealand dollar pound as you can see go together euro Goes together euro yen goes together oz dollar definitely goes together Euro swiss franc goes opposite Okay, so don't just look at that one week bar because in the one week just like our Single day you will have fluctuations due to news due to any other reason you will have fluctuations and that's fine Just take a look at the overall trend This will give you a heads up. Okay. I hope that makes sense. Okay next question Sorry, I didn't so once you enter the trade Ah Ramses is the webinar recorded. Yes, it is But regarding with oanda correlation yesterday, okay, we've got that one navine that indicator exhaustion. Does it alert? Exhaustion it should yes as far as I know It is available on the blogs You can just look for exhaustion and type alert in the search and you will come to it. Here's the search area also, yeah, if for those of you For those of you who can afford a forex watchers, you guys can come online Obviously, we have that promotion of 20 people you guys can join for those of you who cannot afford it Obviously, there is a little bit less analysis that I give But yeah, you guys can join for free on urban forex and there's a chat room We have a lot of traders are every day. We just trade during the daytime And whenever I get a chance out of forex watchers, I come and help you guys out In this room to tell you guys what trades I'm taking But I really don't go into why as much as I do in forex watchers Just to be fair to them Okay, um, okay Link to watch the webinar again. Uh, the link it will be up on youtube youtube.com forward slash urban forex and When it will be up, I cannot say I usually take a very long time to edit the videos and put them back up online because of time constraints Okay, so Everyone knows that there is time to do your analysis. It's not hard. It is quite easy to do analysis and It just takes five minutes And you should be good now Euro Euro usd has gone up now pound is creating a trend continuation pattern eight minutes to candle close US dollar cad took off At support right now now I might wait for you guys wait talk with you guys for another eight minutes And I'm going to show you what this trade is going to end up looking like what's going to happen I'll give you an analysis. I'll tell you guys how I see things and then you guys can see how it actually works Okay, US dollar swiss frank took off crossed all barriers Okay, there we go Aussie dollar Staking off approaching next resistance New Zealand dollar crossing above good Euro yen and we're also crossing above entering a Uh resistance area and gold just like we expected Do you guys see this now? Now Do I have a crystal ball? Does anybody have a crystal ball for the markets? No It's just simple analysis You look at all the pairs Now what this basically is is everything is going upright Everything is going long Gold is our correlating pair as we wrote down Which means right now in gold is the lagging pair Because gold is going down, but it needs to catch up. So what is it doing? It's it's on its way to create its exhaustion So is it really difficult to predict the market? No Okay, so I'm um, obviously I'm going to do whatever I can to explain everything in a simple language So everyone understands because sometimes this can get mind-boggling and the other analysts really really frustrate the hell out of poor investors and So, um, you know, we'll do whatever we can at urban forex to help you guys out understand this at in a more simpler language Okay, so That's that now you guys can always look at that on your spare time I'm just gonna go over some questions on any questions that we have Because the recording is becoming way too long and it's going to become hard to upload. I mean china Okay, so any questions so far. Let's see here. Your usd is not looking like hammer. It's going to form Okay An analyst an analysis video from beginning to end would be great. Okay, john Yes, there would be actually if you can go to forex watchers.com. I will So let me show you here. I think I do have a video of Me making a live analysis on forex watchers.com In our conference room if you go to how it works And you scroll down there is I'm I don't have vpn right now connected, but it's right here. Analyst uses the forecast live in action You can see it here. I do some analysis there and Again for those just saying it again. There is 20 20 seats. I'm allowing as promotion for monthly membership can get access to my conference room so Just before we end the webinar any questions It is getting quite late here and I think uh, um, I think I think one of the members just signed up also so there are now 19 seats available For the promotion um Okay, any questions so far correlation false exhaustions Leading lagging any questions whatsoever we can go over them again. Um next week. I am planning to have a Another webinar going through a little bit more advanced topics plus a little bit of on psychology and We will go through one webinar at a time now that's going to discuss Things in in details like trend lines of Fibonacci Support and resistance, you know, we're not going to go through a whole strategy. We're going to go through one thing and Talk about it to the core so everyone can be really familiar with particular Things in the forex market, you know, I really want people to understand What a trend line is what a support and resistance is, you know, what is Fibonacci? You know, how can we use all these things and it's really important for a lot of you guys and It's the information out there is really a mess sometimes. So I will help you guys out with that. Um, so, uh confirming Um This is Okay, perfect. So everybody's saying this is a good time for the day. Um, uh, Dave is asking Maybe do you not use any indicator on your chart at all? No, I never use an indicator whatsoever Talked about a video on analysis. Is that available to the public? Yes, it is You can just go to forex watchers.com And when you click on how it works and towards the bottom is one of the analysis is just one of the days um, I will start recording all my analysis on a daily basis and keep a Database for all the members at forex watchers every now and then I'll take a video or two out of there and I'll share it with urban forex for the rest of the public Um, so we don't keep anybody behind You know, we take care of people who also are cannot afford to come to forex watchers or Do not wish to come to forex watchers. That's which is also fine Um, but just to let you guys know forex urban forex is alive because of forex watchers And we just kept that service to pay for urban forex and these webinars and stuff Okay, um, continue on I tell I tell Naveen when to enter exit the trade. I am his indicator Uh, dean from the uss 330 in the morning in california. Yeah, I'm sorry about the people in the states This is the only time I could think of that I can get everyone together And also give me some time to get on here, too. Obviously, um Gold has formed a nice exhaustion salami from sydney says, okay, it is now 801. So let's take a look Let's take a look. What do we have here? Okay, gold is gonna go short. This is what we call a false exhaustion Okay, why why do I say that take a look at the design of Of the exhaustion the previous candle Is giving us a trend continuation the exhaustion has formed the current candle Is getting pressure from three days ago. Let's uh put this line right there Okay, it's bouncing off of that This is gonna go down and the candle did not close above our support level It did not pretty much go into our previous candle So this is gonna go short. So if if I were to take a trade, let me just for the sake of an example I'm gonna sell this just to show you That this trade is gonna go short Okay, I'm gonna open this up here and I'm gonna keep this here for you guys to watch as we trade Okay, now let's take a look at euro usd euro usd Looks good for a long currently. Let's continue on pound In decision when you have a tail on top a tail on bottom and a body practically in the middle That is what we call in decision in the market us dollar cad okay now So I see gold as a false exhaustion What is the reason why this exhaustion didn't work out? Why is the market not reversing? That's because we've approached resistance on everything We've approached resistance. We've approached support us dollar cad of approach support is now going up US dollar Swiss franc. It's done the same thing. It's not breaking through Okay, all the dollar Also reach resistance now it's retracing now Gold is gonna mimic these trades for a while. Now everything is retracing How long will it retrace to the next pivot line once it retraces to the next pivot line? Gold will have to turn around again Which means this trade will possibly go down And maybe create another tail And a possible exhaustion so that the next hour or two hours then this starts going up So you have a good heads up of what's going on in the market if you take a look across all pairs and see Okay, what am I doing? What do I need to do? Okay euro yen looks good for a short right now strong resistance on top Gold is going down. It'll drag down euro yen with it. It'll drag down euro usd with it Euro usd has space to go down Okay Pound it'll drag down with it. It has space to go down Okay, gold is already in profit now as we speak so This is practically what you need to look out for and there will be more obviously I will go into more and more and more details as we do more webinars and You know, I really appreciate you guys always following these webinars and we have a we have a lot of attendees this time we had like 72 73 members today and and it's Really feels nice to see a lot of people actually supporting The cause of urban forex and also learning from the strategy and trying really hard at it So I as long as you guys are trying are and are willing to learn. I am willing to teach. I have no problem Okay, false exhaustion again, not very clear. Okay rum. We will let's go over false exhaustions now Exhaustions when they are formed and they are on its way down. Okay Let me see if I can find you an exhaustion Okay, does everyone agree that this is an exhaustion? Okay, everyone. Okay. I'm getting yes. Yes. Yes. This is an exhaustion Why is it an exhaustion? What makes an exhaustion an exhaustion? Okay, let's take a look at two things Criteria number one It needs a tail it needs to stick out You need to look at it You need to walk from halfway across your room and look at your screen and be like, oh It's an exhaustion. I can see the tail sticking out Because on the left of the tail. It's all this black spot. This is it's open area That's one thing the tail should stick out second thing bouncing off of a resistance or support level That's very important Third thing it must somewhat be inside the previous candle You see this body this body is inside the previous candle It's giving us a complete turnaround in the market because of the body inside the previous candle Let me show you another exhaustion. So I'll give you an idea Where is that new zealand dollar trade actually that we saw here we go You see this body here on the new zealand dollar. It's inside the previous candle It's it's giving you a complete confirmation. The market is going in The market is going to turn around same thing with here This is a trend continuation pattern because we're in a downtrend And the candle is inside the same thing with this exhaustion that reversed us. It is inside How far did it go up? There you go. You always have your answers right in front of your eyes Okay, exhaustion formed market goes up touches his pivot line exhaustion formed market goes down Once the first barrier is crossed it goes to the next barrier And so on and so forth and that's the way the market works all the time From one line to the next Okay now You can see our trades are going well then it slows down then it goes high then it goes down Which means we're getting now we're approaching support and resistance somewhere where it's slowing down the market Let's take a look around So you can always also tell by your profits Is that what do you need to do? Do you need to exit? Do you need to hold? You can tell by the speed of the momentum Okay, every time we go into profit if we see the profit go away again Then we see profit then you see the profit go away again That means there's pressure coming in to the other from the other side Okay, so that's one thing you guys need to watch now Um, tony, uh, does the body inside previous candle also apply to trend continuation exhaustions? No, not at all. It only applies to a reversal exhaustion an exhaustion candle. Sorry Rom says, how do you conclude euro yen was a sell because of gold? Okay, do I know euro yen is a sell? No, I can't tell from the last candle. It's there's no saying I know gold is a sell Concluding euro yen will be a sell because of correlation now along with the correlation We have resistance here on top So, okay, so we know temporarily Euro yen is selling because of gold is selling Okay, gold on the other hand now that it's selling how far will it go? We have our sorry. We have our first level here Okay, will it go to that level? Maybe maybe not because we have to look at our correlating pairs and see which one is actually leading Euro you with these almost approaching its support area Pound is Practically at its support area now US dollar CAD is practically at its support resistance area now exactly crossed it US dollar Swiss franc crossed Aussie dollar Approaching it's still some ways to go New Zealand dollar it's crossed everything is crossed gold will Will come to this next pivot line and we will exit there Okay, and we are currently running at what six pips of profit or 63 dollar 65 dollars a profit so Um going back to the questions. Um, let's not get carried away with the trades Okay So then can please explain current market false exhaustion. Okay, I'll go through that again. Um, Ram How do you conclude your yen or the seller? We went through that. Um Perry from the US is saying can you explain why gold is a trend continuation? Okay It is not a trend continuation when you have a false exhaustion It doesn't really mean the market the trend is going to continue. It just means that The market won't reverse. It could mean the market is going to go sideways But based on what everything was looking like. Okay. I'm sorry right here. We have reached our support now It's time to exit our guaranteed profit is hit. We now close the trade Now notice that I saw the trade go up to 115 dollars and I only took 88 When you reach your support or resistance You close you don't wait You close whatever amount you get you close Okay, if you go for the small money if you go for the extra dollar extra two dollars extra pip or two pips You will end up giving back 10 20 pips at a time Okay, always remember that don't be cheap with the market Take what you can All right, um Okay, tony, uh, the bean I am impressed. I was standing to backslide, but I'm a believer once more. Thank you. Thank you Okay, so, um, uh, Perry, did you understand? No, we didn't we didn't go over a trend continuation. I'm sorry Okay, so it it means it's not a trend continuation when you have a false exhaustion It just means the market is not going to reverse as uh, as we were expecting it Okay, it means it's one of two things will happen market will go sideways Or it will go down Okay I hope that makes sense And then we decide from the other correlating pairs what it's actually going to do Okay, um Naveen, how do you know it's a false exhaustion? How do I know it's a false exhaustion? It's it's something you will start seeing in due time Um, you can see that the candle is not inside the previous candle Also, it's closing outside of our support area and I really recommend you guys pick up the fx pro Meta trader and download the indicator because uh, I'm just used to the Pivot points prices on fx pro on their server. It seems to be pretty good So, um Again, I will have the demo link of fx pros demo accounts on our site And if you open the demo through us, we will obviously be I think we I think as far as they told us We can obviously track everything Fx pros also given us a ecn capabilities for a lot of our members now We are able to offer our members a small members thousand dollar account holders to trade directly with banks So that's a very good breakthrough for us and for a lot of our members Um, we'll see um, can you please explain why the exhaustion candle in gold is the false one? Okay, I think we I think I just answered your question Gold is a false exhaustion because of the body good rump. That's that's the reason why Perry is it because the candle closed outside the previous candle? Yes Okay, Tony. How much is access to the conference room normally? Uh, the conference room is uh, 595, uh, it's a three month membership But once you pick up the three month membership, you have access to the conference room Uh, the one month is 199. I'm sorry the price is a little bit steep But uh, it's it's just uh, once we had the calculations of how much it's going to take to run Forex watchers the staff urban forex and all of that stuff. We had to keep these rates Um, but yeah, this is the promotion. Um The price is 199. Uh, it's just the first 20 people are Getting the price of 199 per month, but also have access to the conference room The forex watchers actually gives forecasts. That's what we usually do at forex watchers We tell you what the mark is going to do in the next 11 hours. We predict, um, you know something similar to this Uh, you know we we Where's my screen? Here we go. I make stuff like this on a daily basis. Um The staff actually makes them I edit them and then we publish them every day before london open And we tell you which direction the market's going to head Whereas probably the best areas to buy and sell So on so forth Tony, what is your win rate with forex watchers? Uh, the forecasts have a good 80 success rate They're quite strong. There is a performance page on forex watchers that you guys can always look at everything. Um, it's documented there and uh So, um Moving on forward, um Is there any other questions that we have? Uh, we've taken a trade together. We've explained everything also Uh, do you ever consider dollar index? No, I do not I do not look at dollar index Tony the performance page only has some videos not a tally of wins and losses Okay, that's because tony with the conference room is not recorded Conference room. I am there sometimes. I'm not there all the time Forex watchers is a section for analysis Just like what we're doing now You can you notice I'm not really focused on showing you how many pips I'm making with gold because that's not my concern My concern is to make sure people understand what to look for. It's the analysis that we focus on And it's the training so The the level of education you get at forex watchers It's the same thing you're getting right now in this webinar But only difference is you're getting it on hourly basis every hour. We study the market together Okay Okay, um, okay, perry Says there's no doubt the forecast is at least 80 for last year perry. I believe you're a member with us for the longest time Where do you place your stops? Okay. Here is a good question. Everybody actually a lot of people ask us about stops If you ever notice I don't use stops and people people usually tell me that Uh, yes, you know naveen you're a little bit crazy. You don't use stops. What's wrong with you? Here's the reason why let's take a look. Let me open up my charts again Okay, another tail forming. It's bouncing off of our support guaranteed profits taken Nice, huh? It's like It's really like playing with the magic ball. It's really nice. Okay, so An example we entered all of our correlating pairs, right? If I have a trade on euro usd Why am I taking pound with why am I also trading pound? Why am I also trading new zealand dollar? What is the reason? Any guesses Butterflies is it correlates. Okay okay, um Dan says uh for hedging uh Not really hedging, but yeah, you you can lower your risk that way. What seems says to make more pips. Okay, that's also correct Now do I when I enter euro usd. Do I enter pound at a later time? Or do I enter at the same time? Okay, Dave says same time jd from australia. It's the same time. Everybody is saying same time. Yes You enter at the same time. So When you keep your stops For example, if I keep a stop on uh euro usd And I get stopped out on euro usd. Does that mean I'm going to get stopped out on pound Is that usually the case? rum says no no Exactly my point when you enter you enter everything together When you exit you exit everything together as well Now if you're entering the trade and the trade goes against you When the trade is going against you for example, it's a bad day um, and the trade goes against you 400 pips for example And at 400 pips if you cannot handle to see the amount that you're seeing in front of your eyes or minus 400 pips Your lot sizes are way too big That's the whole thing So the main concern is not really the stops. It's actually psychological It's do you can you handle? A major catastrophe on your account if it goes minus 1 000 pips or minus 2 000 pips What does that really mean to you? Does that mean 200 dollars? Does that mean 20 000 dollars? So it all depends on how much you Want how much you can tolerate and you say your lot size accordingly now I've not hit more than 600 pips of a drawdown at any given time. I would say 600. Yeah, that's that's Being fair. I've been 600 is quite a large number, but I've I've not hit 600 pips Continuous as a loss in the long time last week was quite rough for us even at urban forex and forex watchers, but The numbers should not bother you because your lot sizes should be able to take losing days at all times Rum not on every pair 600 in total Okay so all in all if if a trade that goes sour Today and tomorrow bothers you means your lot size are too big okay um in the month of March we've uh taken approximately 20 percent gain in our accounts. It's a very small amount of gain On our accounts, but if you actually look at it The 20 percent gain if you look at it and pips people can become rich off of that But we're not aiming for the dollar amount. We're aiming for the pips okay, and some pips You should not be trading really heavy on the pips Goal is collect pips money will follow Okay questions. Um Totally got to go. Thanks for the webinar. Okay. Thanks for attending totally Rom uh your take on euro yen, please. Okay, let's take a look at euro yen Okay, we're having a trend continuation pattern, but this will only be valid once it crosses to the other side It's too soon to do an analysis. It's 8 20 now, which means 40 minutes to candle close So i'm gonna have to go ahead and cut the webinar short now I'm so sorry, but we've gone way way way past our webinar time again But thanks Thanks for everyone holding on on the disconnects that we've had and coming back And I hope to see all of you guys and as members as on urban forex, which is on urban forex.ning.com and also If you guys have any questions drop us a message Please do send good words for our our member roi who has really worked hard to create the exhaustion candle alerts and also The ea to automatically trade to automatically open all your trades and close for you at a single touch rather than doing it one by one And also for his contribution to help with mac users Okay, it was nice meeting a lot of you guys. Have a very good night And It's a pleasure as always