 Hi guys, welcome back to my channel. My name is Doc Willis as you already know. First of all, I'd like to thank you guys for watching my previous videos. Now we've been rocking up some studios views on the Trader Psychology video. Thanks to all my 700 subscribers for supporting those three videos. Now those three videos basically talk about all the tracks and pitfalls that most traders are running to, you know, when they're just getting into the market. So I thought that I owed you guys the responsibility of telling you guys all the tracks that you might most likely face when you're going to start trading the FX market. And for people who are already facing those things, I also provided solutions for you guys as well. So in short, to check my three part video series on Trader Psychology, it's really going to help you guys because every trader falls into one of those traps, every single one, even myself. You notice when you watch those videos, you notice that I was speaking based on personal experience. Okay guys, so those stories were actually very dear to me. And I thought that I shared those videos with you guys. Anyways, moving forward, the purpose of today is Trader analysis. So I want to be breaking down the charts with you guys and basically telling you guys my thought process behind the trades that I'm going to be taking this week. Okay, so I have three very interesting pairs I'm going to be going over. First is GBP USD. Secondly, Euro USD. And the last one on the list is US dollar against the Canadian dollar. So if you guys hop into my charts, I'm going to be giving you guys some really juicy analysis that you can take home and profit from as well. So all right guys, follow me and go Hi guys. So what we do have in front of us right here is the GBP US dollar. First things first. I'd like to first of all go over my previous trade that I had on this pair. GBP USD, I think, not quite certain, but I think I was long this pair somewhere about here. Yeah, I caught the entire GBP USD move to the upside. No, no, no. This was my trade of somewhere about here. I'm just trying to remember where exactly I went long. Anyways, that being said, I mean, that trade is already in the past, so we can only move around it. So what's happening with GBP USD at the moment? Now, I'll just explain to you what exactly is happening with the pair. Now, if you come down to a weekly timeframe, you would realize that we have what seems to be a head and shoulder pattern. Okay, so you see this is the left shoulder, this is the head, and this is the right shoulder. So usually what happens when the head and shoulder pattern forms is that we tend to have a reversal. Okay, head and shoulder is a reversal pattern. So anytime we see a head and shoulder on your chart, just know that the market is literally about to reverse. Now, the reason why I'm being very careful about this head and shoulder pattern is because the timeframe is such a very high timeframe. Okay, usually anything that happens on a higher timeframe tends to stick. Basically, if you see a trend reversal pattern on the higher timeframe, we rest to show that the probabilities of that, the probabilities of that incident occurring is actually very high. So I'll take that again. If you see a trend reversal on a higher timeframe, the possibility and the chances of that reversal actually happening is very, very, very high. So you always have to take that into consideration. Okay, so I can see the left shoulder, I can see the head and I can see the right shoulder. And what do I have in front of me right here? Actually, let me delete this right about here. I'm going to explain to you why I kept that. So what I do have in front of me right here is the neckline of the head and shoulder. Now, for those of you who are pretty much letting the market view know about, once we take out this neckline, okay, once we break out of this neckline, we usually tend to rally all the way to the upside. So that is literally my thought process for GBP-USD at the moment. Okay, if we're able to break this region at 1.32760, we're literally going to head all the way, probably all the way to 1.3900. Okay, but at the moment, if you come to the daily timeframe, there's something stopping that from happening at the moment. Okay, which is this temporary level, as you can see, this level has acted as resistance several times from this, from here, to here, to here, to here, to even here and here. So, you know, we're currently testing 1.327006, guys. Now, so there are two scenarios that can happen with GBP-USD at the moment. Okay, also, as you can see, this really nice trend line, the market has tested it once, twice, third time, we're currently holding on for their life. We're currently holding on for their life. So what can potentially happen is one first case scenario is if we break this level, I think that again, if we break 1.3308, guys, we're heading all the way up to this bruise zone because we have nothing in terms of resistance stopping us from heading here. If we break this level, we're coming here. Okay, that would mean that the weekly head and shoulder has been fulfilled. Okay, if we break this level, we're heading all the way to the upside. However, if we don't break this level and then we come in here, test here, because as you can see, this is still a strong level of resistance and we roll up. Okay, let me just show you. If we get here and then we start breaking all the way to the down side and then we roll up what to do. This is what could happen. We could come in here, test this level and start heading all the way back to the down side or we could get here, break this level and then we could head all the way to the upside like this. So these are the two case scenarios for GPUSD. So I'm not exactly calling any trade at the moment for GPUSD. This is something that we need to sit back down and basically watch what happens within the next coming days. Okay, very important. So if we break this level, I think that again, if we break 1.33107, we're heading, we're going to take off all the way to the upside. But if we eat 1.3307 holds and we start pushing all the way back to the downside and we take out this because this trend line is what's pretty much holding this market at the moment and we take out this market, we take out this trend line. Ladies and gentlemen, we're coming to 1.2800. Okay, 1.2800 might be the downside target for GPUSD. I don't think this market is really going to do anything that crazy this week. We're probably just going to be ranging inside of this trend line support area, probably between here and here, maybe for the next three or four days. And once we do have a break, I will definitely be back on the chart to inform you guys. Or you can follow me on my Instagram page at imdapo because it's a lot easier for me to update you guys on my Instagram page because I just bring up my phone, bam, bam, bam, show you guys the chart and then you guys know exactly what to do next. But this is just to show you guys the general outlook of the market. So it's quite indecisive at the moment. It's looking like a 50-50 tank, 50-50 something. So we can either break 1.3304 to the upside or we can get to 1.3304 hold there and then start heading all the way to the downside. So if you want, you can take a screenshot of my chart so that you guys have a clear understanding of what exactly it is I'm talking about. So ladies and gentlemen, GBPUSD in a nutshell, looking 50-50 at the moment, we can break to the upside or we can break to the downside. And like I said, I'll be updating you guys on my Instagram story. Or if nothing happens during the week and then I get to shoot another video over the weekend again, I will definitely go over it again. But either way, I'll be keeping you guys informed. So this is why it's very important to follow me on my Instagram page, checking the bio at imdapo.org. Okay. So next chart is the euro against the dollar. Give a moment to load, a moment to load, a moment to load, yeah, a moment to load, good. Sorry, somebody's texting me. Sorry about that. Well, back to what I was saying. So now, euro-dollar, well, I won't say same scenario with euro-dollar. Now, euro-dollar is also being very decisive as well. As you can see, this is a very nasty range. I'll just reduce the transparency or rather I'll increase the transparency of this so that you guys can have a certain background. That's exactly what I was looking for. So I've pretty much marked up euro-dollar. So let me delete this first of all. Now, we came all the way here, crashed to the downside, pulled back, okay, pulled back, started revolving, bam, bam, bam. And now we're coming to put a double bottom. Ideally, after a double bottom, we should be heading all the way back to the upside somewhere about here. Okay. Euro-dollar should have come all the way up here and then rally it all the way to the upside. But that didn't happen, okay, for reasons best known to it. We came into this strong level of resistance and we have held very firmly. Now, euro-dollar, another 50-50 case, we're putting in a head and shoulder pattern. As you can see, left shoulder, head, this is looking like a right shoulder once we come all the way back to the downside. Now, two things can happen. If this head and shoulder holds, same as GBP USD, if this head and shoulder pattern holds, what could potentially happen is something like, so, sorry, this could happen. We can rally all the way to the upside, as you can see, okay. But if we break this right neckline, I take that again, if we break this right neckline, okay, and we also come and break this big range that we're in at the moment, I'll just bring that back again, okay. If we also come and break the bottom of this range, guys, we're coming to 1.1092, next level target. So, let me just explain this to you guys so that you guys really understand what I'm talking about. So, it's a no-brainer, right? When the market comes into a range, two things can happen. Either we break to the upside or we break to the downside. Easy as that, okay. For Euro, the Euro dollar, I'm just simply waiting. Break to the upside, I buy. Break to the downside, I sell. Sick pool, okay. Break to the upside, I buy. Break to the downside, I sell. Obviously, once we break to either side, I'll definitely zoom into a lower time frame to try and refine my entry, but you get the gist. Once we break in either, if we break to the upside, I'll be looking for buy opportunities, basically. And if we break to the downside, I'll be looking for sell opportunity. So, that's basically what I'm trying to say for. So, for Euro dollar, guys, please sit on your hand. This is a ranging market. It's absolutely very dangerous for you to be trading. You don't want to blow your come in a ranging market. And then when it now eventually breaks out for a clear direction, you don't have any money to trade, okay. So, just be patient and wait for the market to give us a direction. I don't mind not trading GBP worst in a Euro dollar for a week, just to ensure that the market is committing to me, okay. It needs to commit to me that this and that. I want to head in this direction or I want to head in the upper direction, I want to head in the downward direction. I don't like raising markets, okay. That's not my thing. So, last but not the least, I'll take you guys over to a US dollar CAD, which is my favorite at the moment. I've actually backed some decent picks on this market at the moment. I don't know why this is not loading and get out the screen. Now, USD CAD, very, very, very, very clear scenario of what exactly has been happening. As you can see, the market has been ranging high highs, high lows, high highs, high lows, high highs, high lows. We came into the trend line, okay. I brought up my Fibonacci, okay, from swing low to swing high. As you can see very clearly, we came into the Willis zone, bounce off the Willis zone, and we're currently looking at some upward direction, okay. Now, what happened was when we came back down into trend line, as you can see, I don't know why all the, all the pairs are just currently giving us some head and shoulder. There's some head and shoulder frenzy going on in the forex market at the moment, but I like it because, you know, that's the chat part of them. I'm really able to understand as a trader, okay. It's very easy to understand. So, as you can see, he's giving us the left shoulder, he's giving us the head and he's also giving us the right shoulder. Now, although we did kind of like spike below the shoulder a little bit, but, you know, it's still all right. So, we spike into this right shoulder, and then we started to head all the way to the upside. Now, there's a rule in FX trading, okay. Like I explained to you guys on the GBP USD chart, right. When you have a head and shoulder pattern, right. Okay, I'll take that again. Left, head, right. This is the neck, okay. This is the shoulder, okay. This is the shoulder, this is the head, this is the right shoulder. This is known as the neckline, okay. Once we break the neckline, we usually come in. So, let's say between the neckline and the head is, let's say 100 points, okay. 100 pips, as we like to call it in the FX market. When we break out, so, no, this is actually some real new stuff, but I know some of you guys are pretty much new to the market, and I need to explain this to you guys. So, just vibrate a little by little, okay. So, we have the left shoulder, we have the head, and we have the right shoulder. Now, the distance between the neckline and the head, when the market breaks that neckline to continue, because usually when we have a head and shoulder pattern is a reversal for the market to start heading up, okay. When we indeed start heading up, the distance between the neckline and the shoulder is the same distance that the market is going to cover all the way to the upside, so that I'm trying to explain, okay. So, whether you like it or not, the market doing the head and shoulder is a range. So, once we break out of this range, that once we break out of it, okay. So, from here to here will be the same distance as from here to where the market is going to head into, okay. So, I'll explain that to you in real life time. So, as you can see, this market has finally broken out of the neckline. All I'm trying to say is that this market is going to head from here to here, because it needs to cover the same distance it has covered inside of the range, inside of the head and shoulder pattern, okay. It's like a can, okay. When you have, when you heat up a can of big water or whatever it is, and you can see the molecules really vigorously moving around, the moment that can opens up, okay, like a bottle of coke, okay. If you shake it, once you open it up, it just explodes, okay. Same thing for this. The range, the head and shoulder is known as a can, because the market likes to move in the one in an upward direction or downward. But if you trap it, it's like, the moment the market breaks out, let's say it's been trapped for this, okay, around my hand. The moment we break out of my hand, it will come and replicate the same distance, the same volume as it is in my hand. It will come and replicate it to the upside, okay. So, now that I understand this principle, all I simply need to do is, okay, once we break out of here, okay, I simply know that I'm going to buy, and I'm also going to take my money out once we have achieved the same level of distance. So, let's say from the neckline to the head is 100 pips. When I buy here, I'll be looking to bank a 100 pips to the upside. That's what I'm trying to say. Shit. Sorry guys, sky means some dating, it must have me with Brexit. I'll get over to Brexit in a couple of more videos to come. Anyways, it's been long, this is 15 minutes already, I need to wrap this up. So, ladies and gentlemen, yeah, so that's what happened with USDCAD. So, we broke the neckline, we've come back to test it, and then I look for a nice buy opportunity, I actually bought somewhere around here. My long positions are here, my stop losses are going to be, not going to be, my stop losses are. So, my buy position, let me take this out. I have a better tool for this. Excuse me, give me a moment, long positions here, stop losses come here, and my take profit, remember my take profit needs to be the same level as this about here, my take profit is here. And as you can also see, the market is so coincidental. Okay, the length of my range, the length of the head and shoulder is the same as, basically, there's a conference between where it stops and the overall resistance. Okay, so I'll just basically put the take my profit out at the resistance level, which is about here. I just wanted to use this medium to explain to you guys how they trade head and shoulder, if you need more clarity on that, do contact me on a one-to-one basis on my Instagram account at iron.com. So, ladies and gentlemen, USD CAD, is it too late for you to buy? Probably just wait for you to pull back just a little bit and then you can buy. So, I am long USD CAD, I'm looking to make anywhere between 1,000 to 1,500 pounds on this trade. So, it's going to be a decent, it's not a lot of money, but it's not bad for a week's worth of trade, just by clicking the button. I'm going to make 1,000 pounds. So, that's pretty decent. All right, guys, so I've been recording this for 16 minutes. I know you guys are probably tired of watching this analysis. So, I hope I've been able to do justice to this week's analysis. I've showed you about Eurodollar is a waiting game for that. GBP USD is a waiting game for that. Just be watching that for my Instagram stories. I'm going to be updating you guys. But USD CAD is a buy, buy, buy, buy. All right, guys, thank you once again for watching my video on my Trader Talk episode 2 on whatever it is I spoke about today. And I'll catch you guys next week. Be sure to follow my Instagram handle. That's why I usually always update my stuff. Please subscribe to my channel. That's how I'm able to grow this channel so that I know that you guys are really interested in this stuff. Now, I also know that not a lot of people are really talking about the behind the scenes about effects trading and all that. So, I'm trying to literally build a community. So, tell your friends about this channel. I'm really dedicated to this stuff. This is my passion. I love to talk about the market. It comes second nature to me. So, please subscribe and please like my videos so that it goes viral or so that more people get to see them so on and so forth. All right, guys, thank you very much for watching once again. My name is I, my name is Tapu Willis. Don't forget to follow my Instagram handle. Goodbye and God bless you guys.