 testing. Okay, hi everyone. Welcome to today's webinar. We're just going to give a couple more minutes, maybe one or two minutes just to let more people join our session before we get started. So in the meantime, okay, let me just enable the chat. Okay, great. Yep, so in the meantime, just feel free to let me know in the chat if there's any specific charts that you'd like me to go through. And yeah, we'll begin in about one more minute. Thanks guys. Let me just open my charts. Okay, we have a request for dollar yen. So definitely go through that. Okay, goals as well. $2 pound dollar. Okay, we've got a lot to go through. So let's go ahead and get started. Yep, I am covering for Peggy for just for today. So yep, she'll be back next week. Don't worry. Okay, let me just share my screen. Okay, let's go ahead and get into it. So welcome to today's trading strategy clinic. I'll be covering for Peggy today. I'm Melanie and I'll be your speaker for today. So I'm an investment analyst from Everest Fortune Group who are finalists for best effects research and equity research in the years 2019, 2020 and 2021. Okay, let me just open my charts and we can get started. Okay, let's go ahead and get started with goals since I have that open here. Okay, so as per usual, we're going to start from a higher timeframe and then work our way down. So let's start by looking at the weekly timeframe first just so we can see a general direction of where prices are headed to. So here we have three swing highs, we see price reversing off of the last one giving us kind of a bearish bias on our weekly timeframe. Now for our daily timeframe, it also looks kind of bearish over here. Now let's zoom into our four hour timeframe. On our four hour timeframe, it's definitely bearish and we have a downward trend line here. Okay, now let's get into our support and resistance levels. So just this is just solely graphical. We can adjust this later on after we have taken a look at our Fibonacci levels. So here's my first resistance. Okay, and you want to make sure that you're trying to pull it back as far as you can. My first support here. Okay, and then my second support just over here. Okay, now let's go in with our Fibonacci levels. So I have a 23.6% Fibonacci retracement that lines up with my first support. And just to recap, for retracement, we use these five levels, 23.6, 30.250, 61.8, and 78.6. Okay, and I can kind of see my 78.6 lines up with my first support. And I'm going to move my first support further down so that it's in line with two swing lows. I have one more projection over here. Okay, and for projection, we use these three levels, 61.8, 78.6, and 100. And I can see my 78.6 and 100% line up nicely. So now let's go ahead and take a look at some indicators. So we typically will take a look at Ichimoku or MACD first because at one glance, it tells you exactly what the signals are. So for Ichimoku, price is moving above the cloud, giving us a bullish signal. On a MACD, it's also giving us bullish. Maybe let's take a look at one more. Okay, if we take a look at RSI, it's also giving us bullish because it's moving in this ascending trend line. But we can see on our price chart, there is no ascending trend line. Okay, so if you're wondering, why is it that initially we use this descending trend line, but on all of our indicators, it's giving us a bullish signal. It could be because in this case, I've used this swing high here, the most recent swing high. But if I moved it here like this, I think you can see my chart. Because as long as you have three significant touches or three significant swing highs on your descending trend line, then it is considered a valid trend line. So we typically won't use the most recent one like I did earlier. We want to use somewhere in the recent past, so something like this. And once I've moved it like that, you can see price has recently broken out of our descending trend line, giving us lining up with our bullish signals on all of our indicators. So you can see that it's definitely moving upwards towards our first resistance. Okay, let me know if there are any questions on this. Okay, if not, we'll take a look at your dollar first. Hi, Mustafa. Okay, let's go ahead and move on to our your dollar now. Okay, so same thing. We're going to look at the higher timeframes first. Okay, weekly timeframe is giving us a bit of a bullish signal. Daily is giving us bullish as well. Okay, and then on our forward chart, it's also pretty bullish. Let's see. Okay, we don't have any swing, I mean, any trend lines or trend channels here. Okay, not really, but we do have a chart pattern. Okay, so if you manage to spot this today, you've probably made a profit if you went in for a buy, because we have this flag shape here, this bullish flag that it did break out at this corner here, broke out and it moved upwards by many pips. Okay, so let's go ahead and continue analyzing this. Okay, so let's go in with our support and resistance levels now. Here's my first resistance. It will adjust the levels later on when we include our Fibonacci levels. Okay, so we're looking for a Fibonacci retracement. So for retracement, similarly I mentioned earlier, we use these five levels. Okay, we have a 32.6 that lines up with my first support, but this level is no longer valid because price has already broken this level. So it doesn't look like we have any other levels, apart from this 50% here. Okay, so I'm just going to highlight this level here. Here I have a Fibonacci extension. So if you've been through our Fibonacci series, you would know for Fibonacci extension, we use these two levels. Yeah, 127 and 161.8. Okay, so for a Fibonacci extension, just really quickly, we look for a Nike Tic like this. So you want to make sure that it retraces 100% of the head of the Nike Tic. So you can see here it did retrace and it moved upwards. And you can see it's broken out of the 127.2. So we are expecting it to continue upwards towards our first resistance that lines up nicely with this 161.8. Okay, okay, that's my drawing is kind of messy, but I hope you understood what I was trying to get there. So I'm just going to keep the 161.8. Let's see if there are any other projection levels. Okay, I have this intermediate resistance level over here because I have multiple swing highs, one swing high here and another one here and I can see price testing this level as well. And it's also lining up with a 100% Fibonacci projection here. Okay, so we're just going to see if price is going to break out of this level, this confluence area and hit up towards our first resistance. Okay, so let's go in with some indicators now. Ichimoku, so price is moving above the Ichimoku cloud giving us bullish, MACD also gives us bullish. Maybe let's take a look at RSI as well. Okay, RSI is giving us bullish as well. Yeah, because here all of the three swing lows are on the same level, but on our RSI it's moving in an ascending trend line. Okay, so all of our indicators line up with our analysis and this is your dollar. Okay, are there any questions? Okay, next we'll look at dollar yen. Okay, all good. Let's move on to dollar yen. Oh, Mustafa, you've raised your hand. Just let me know what your question is in the chat. Am I moving too fast? Yeah, I'll slow down. Sorry guys. Okay, so for this point here, the entry point would be if we're looking at this chart, it would be at this intermediate resistance that I highlighted earlier. Okay, so that would be that would roughly be our entry and then we would go in for a buy towards our first resistance here if it manages to break out of this resistance, because I mentioned earlier that this is a confluence area because we have two swing highs as well as a Fibonacci extension level or projection, sorry 100% projection. So because of that, we could be seeing some resistance which we are seeing here. So we would if you want to stay be on the safe side, you can wait for it to break out of this level before going in for a buy towards the first resistance. Okay, I hope that answers your question. How do you calculate your pivot point? Okay, in this case, I'm not using pivot points, I'm just going solely by Fibonacci as well as graphical analysis. But I do occasionally just make use of the pivot point indicator here. So I don't, I don't really calculate. So if I'm looking at the four hour chart, I probably look at the weekly pivot points. Yeah, do you get the chance to have a certificate after this session? No, not for this session. I'm not so sure about certificate, maybe you can email, take mail about this. It's so complex and fast. Okay, I will, I will slow down. Sorry, guys. Okay, let's move on to dollar yen now. Okay, what determines the resistance and support lines? Okay, so maybe I'll use this chart to go through that a little bit. Firstly, we'll look at the higher timeframes first. So we get idea of where prices are headed towards. So price is moving upwards on our dollar yen. It's pretty bullish as well, despite this reverse reversal over here, but still pretty bullish. Okay, general trend is still upwards as you can see here. Okay, so firstly, we're going with a graphical analysis of we'll identify if we have any trend lines or trend channels first. So you can see price recently broke out of our ascending trend line. Okay, so it's giving us this bearish bias over here. So now that we have that, then we'll go in with our support and resistance levels. So just as a general rule of thumb, your support level, if you're using graphical analysis, it would be the closest for resistance, it would be the closest swing high to where your current price is at. So in this case here, and if it's a stop, if it's a support level, then it will be the closest swing low to where price is currently at, which is over here. And I mentioned earlier that we want to try and pull it back as far as possible, just so that we can see how significant the level is. Okay, so in this case, I can see price tested this area before. So it's pretty, it's more significant than this one, which only has one swing high. Okay, so that's just a basic intro to support and resistance levels. Here's my second support level, which is the next closest swing low to where price is at. Okay, so now that we have that, then we'll go in with our Fibonacci levels. So there are many types of Fibonacci levels. In this case, right now, I'm just going to be looking at a retracement. So for retracement, you use these five levels. Okay, and I can see my 23.6% Fibonacci retracement lines up with my second support. So I'm just going to keep that, keep that level. What is the best timeframe for USDJPY entry? So we normally conduct our analysis on either the four hour or one hour timeframes. Yeah, but it's really up to you and your own trading strategy. We choose four and one hour just because we are, at the time that we are conducting these webinars, it gives you a bit more time to analyze without it moving too quickly if we analyze it on the smaller timeframes. Yeah, so it's not so messy. What was I saying? Okay, next I'm going to be looking at this projection level here. Okay, I have another retracement level here. Once again, my 61.8 lines up with this second support. Okay, so I will just keep that. Okay, I think that's about it. So let's go in with our indicators now. Okay, so both Ichimoku and MACD are giving us bearish signals. Okay, price is moving below the Ichimoku Cloud and it's giving us a bit bigger as well. So now maybe we'll take a look at RSRI and you can see on our RSRI, price has been moving in this descending trend line over here, even before it started on our price chart. So this is where it started on our RSRI and only here is where it started on our price chart. So this is what we call a divergence. So price is moving upwards whereas over here price has made a lower low here or rather a lower high over here. Okay, so generally bearish but we can expect price to continue to drop from our first support towards our second support. Let me zoom in a bit. Okay, but whether or not price is going to break out of this second support, we'll have to see because at our second support, firstly we have this overlap level here. So this is a swing high and a swing low and it lines up. So we call that an overlap support level. So because this is an overlap level in combination with two Fibonacci retracement levels, so it's a pretty strong confluence area. So we can expect that to be quite a bit of resistance at this area. So we'll first go in for a sell from here or from our first support towards our second support. And then we'll see if price manages to break out of the second support before going in for a sell even lower. Okay, I can change these levels to take profit levels instead if that makes it clearer. So our first support would be our entry in this case. Let me know if there are any other questions. Okay, next we'll look at dollar franc. Okay, all good. Let's move on to dollar franc. We use sell by limit, but that's just personal preference. It's entirely up to you. Any divergence on JPY or we can, when we look at it earlier, I don't think so, but we can take a look at that if we have time at the end. Okay, but let's go ahead and get started with our dollar franc. So same thing, we're going to look at the higher time frames first, skimming us pretty bearish by signals here. I'm using trading view. Yes. How about MT4, MT5? Is it limited to draw then trading view? Actually, MT4 and MT5 both have the same functions as trading view. Yeah, they have few energy levels as well, your support and resistance levels, they're all the same. Okay, so we have a descending trend channel here. Okay, so I'm getting a lot of questions about like basics of thank god analysis. So I just want to sidetrack a little bit and show you guys one of the resources that we have. So if you go online and search up defarxarmy.com, it'll bring you to this page. Okay, let me see if you can see my screen. Yeah, so bring it to this page. And then we have a bunch of trading guides for you to take a look. So if you're new to Fibonacci or new to trading in general, you can go ahead and take a look. It's pretty in depth, unclear, clear market structures. And it's very, very basic. So if you're curious about any of the things that I've mentioned, so Fibonacci retracement projections that I mentioned earlier, as well as extensions, they're all over here, as well as the confluence levels that I mentioned as well. There's also support and resistance levels for you to take a look at. And there's a checklist as well, if you go ahead and explore this website yourself. Okay, and we have a couple of webinars as well on Fibonacci and support and resistance levels. So you can stay tuned for those. Yeah, let me just post the link for exarmy.com. Yeah, okay, it's in the chat. Can you enter a trade using trading view that we do with MP4 and Viva? Actually, yes, but I'm not sure how. Sorry about that. Yeah, I've never done it before, but I know you can do it. Yeah. So for fundamental analysis, some websites that you can use. Okay, some of the websites that we like to use for Xfactory, so you can go to the calendar. And then for this week, it shows you week by week all of the events that are happening. In this case, I filtered out only the most important events, but there are these different events as well. Yeah, so you can go ahead and take a look. I'll just add the link into the chat and then we can continue. Yeah, and then it tells you the forecast and the previous as well as the actual. Okay, let's get back to the charts. I think investing.com also has another one. But for Xfactory is the one that we like to use. Okay. What was I saying? Oh yes, okay. So now that we have the descending trend channel, we can go ahead and plot our support and resistance levels. So same thing, my first resistance will be the closest swing high to where price is currently at. And I want to pull it back, see how far I can pull it back without cutting too many candlesticks. Okay, I'll show you what I mean in a little bit. Okay, so I'm going to stop here. And the reason why I'm not pulling it back all the way over here is because right about here, you can see that it's cutting way too many bodies or candlesticks. So if it cuts just the wicks, that's fine. But the body is no. Okay. So here we have our first resistance or actually, this is our second resistance. And then my first resistance is here. Okay, now let's plot our support levels. So my first support level is here, the closest swing low to where price is currently at. And the same thing, I'm going to see how far I can pull this back. And then second support is the second closest swing low, which is over here. Okay, now that we've done that, then we will go in with our Fibonacci levels. So in this case, I'm looking for a retracement. So I'm looking at these levels, 23.6, we see it lining up nicely with my second resistance. Okay, but it hasn't, or rather, and it hasn't broken out of it. So this is okay. Okay, I have a projection here. 61.8 lines up nicely with my second support. Maybe just to let you guys know for a projection, you want to look for a flash symbol like that. So a flash kind of shape or a lightning bolt shape. Okay, I think I have another retracement here. Okay, I can see my 23.6 lines up with my first resistance and my 50% as well, 50 and 23.6. Okay, so we're expecting price to continue within this descending trend channel. Okay, now let's pull out some indicators. Okay, price is moving below the Ichimoku Cloud and MACD is also giving us a bearish signal. Next, we take a look at RSI. Okay, in this case, RSI isn't telling us much because I was looking for a divergence here, but we don't have one because price is moving, price has made a lower low and our RSI has also made a lower low. So I'm going to remove our RSI. No worries. Okay, yeah. So I think this video is being recorded. I'm not so sure where you could get the recording. Maybe you can email, take mail, and then they can advise you better. What does divergence signify? So divergence basically tells you if there's going to be a continuation in the trend or if there is going to be a breakout. That's basically it. Could now locate the videos and take me on YouTube. Okay, I will check with them, but if you could email them as well, I think that would be faster. They'll probably get back to you faster. Okay, I think we have time for one more chart. Let me just see what else we have left. Or if you guys have any other questions, feel free to let me know as well. Okay, shall we take a look at dollar cat and then we can finish for today? Okay, let's take a look at Bitcoin instead. So let's take a look at the higher time frames first. Price is moving upwards. It looks like dealing time frame, it also moves upwards. Now on a four hour time frame. Okay, it's kind of ranging now. Okay, let's go in with our levels first. This is my first resistance. Here's my first support and second support. Okay, now we go in with our Fibonacci levels. You can see my 23.6 and 50% already lined up. Okay, my 78.6 lines up as well. My 61.8 is kind of far away from my second support, so I'm not going to count that in. Okay, now if we zoom out, can we have a projection here again? Okay, and then my 61.8 Fibonacci projection lines up with my first support. Okay, so I'm just going to highlight this area. Okay, now let's go in with some indicators. The price is moving below the Ichimoku Cloud and on our MACD, it is giving us a bullish area as well. Okay, so since they don't, they're not giving us the same signal, we'll pull out another indicator. Okay, on our RSI, it's giving us a bearish indicate signal. Okay, because here we can see that there is a hidden, or rather there is a resistance here, but over here there is a hidden descending trend line, so it's giving us a bearish signal. So I'm going to move our MACD because it doesn't match our analysis. But in this case, we can expect it to continue to drop to our first support, but as to whether it will break our first support, we'll have to see, probably not, because we have a 78.6 retracement that lines up with a 23.6 percent retracement as well. And we have this overlap support here. So we have swing highs here and we have a couple of swing lows here as well. So it's not likely that price will break out of the first support and it might continue within this channel here. Yeah, Jimmy, your hand is up. Okay, I think that's all the time I have for today. But let me know if you guys have any other questions. I'm so sorry if we couldn't get through all of the charts in the chat. There were a lot. But yeah, stay tuned for next week. I think Peggy will be back next week. So yeah. Okay, thank you guys so much for joining me today. Have a great rest of your week. Bye. Thanks guys. Bye.