 Hello, YouTube. I'm gonna send and get into it the strategies. I used to trade the market what I was taught by my mentors Really break it down right now top-down analysis. Look at the bigger time frame if you don't know the instrument you're trading Weekly chart see what it's doing. You know what it's doing then go into the daily you know do your analysis on the daily I was taught L.A. was Fibonacci and Ranko charts, so I didn't know anything about ranko charts and now that's literally the only way I trade I do my analysis on the can of state charts, and then I go into the ranko and I pinpoint my entries and exits So let's get into the video All right guys, so top-down analysis so you get your larger time frame so if you're not familiar with the instrument go to the weekly and Look and see the bigger time frame what it has been doing over past I would say at least a year but this is the ES which is a S&P 500 futures contract, so I'm pretty familiar With this instrument since this is one of the only ones I trade I trade ES For for future contracts, I trade the ES and on my other screen over here You guys can't see I have the RTY which is a Russell 2000 Other futures contracts those that are two that I trade Pretty much entirely. So anyways, you go back in history and you see what it's been doing. So This just kind of looks like it's been up and down and up and down and kind of actually in a sideways trend, but my mentors so what I was trained was Elliot waves and Fibonacci Tracements and extensions. So From I know how to pick my points people who Get trained with Elliot wave. I've seen I've seen people do a completely different than I do But I do what works for me. I do what I have been trained. So Yeah, my mentor saw me this way. My mentor is very good at what he does and it's been working for me So this is how I do trading. So you see your you know your chart pick your lowest point So right here obviously, this is your zero point. So I see zero one two three four five ABC Now this is another start to the next wave up. This whole thing is done This is zero somehow it's gonna continue going up and The way I kind of confirm I wouldn't say confirm But you know that this is the end is if you do a retracement from this whole move I would personally like to see it gets a fifty But thirty a point two that's okay I guess that just means to me that this is a very strong bull trend right now so It came back through it thirty eight point two and if you can actually see it came back to 22.6 bounce off of it came up tested the fifty went back down and broke straight through it Went to the next level which is thirty eight point two. So if you actually saw this whole move And you start us all coming down and you want to short this but you want sure where to Play it, you know to place your order you could have put your profit taking right here. You know you played you Chart your Fibonacci retracement. Look at this from you know the bottom of the move to the top See the 22.6 take your profits here Just to be safe and that's a you know, that's a pretty safe move to make And I mean you can you know you could put it down here you could put it down here But there's chances that that won't reach that there's actually chances, you know It won't reach here, you know, nothing's guaranteed in the market But it came back to this level and tested the fifty and I broke past the twenty three point six thirty eight point two Or damn near close to the thirty eight point two. So Fibonacci's is just a Way I guess to Enter and exit trades it kind of gives you a guideline of When and what price to enter and exit trades? So anyways, so I see my a Chart yes, I'm very familiar with this zero one two three four five ABC is where it is done. That's how it's way back up So I see Wait one wait two which is a two was a very very shallow retracement So wave two was Not even the twenty three point six Almost a twenty three point six, so that tells me I was trained that The next move up is gonna be pretty strong so wave three from the training that the my mentor told me wave three is the biggest wave and Expect it to get from one hundred to one six one. So This green line right here is where I expected to get to Obviously, it's not gonna be a super linear straight move You know, it may come down bounce off this trend line or break down this trend line And it's kind of do a move like this and like this and get to this next level So pretty much, you know, you do your top-down analysis So you bigger time frame do your analysis see what it's gonna do So what I think is it is currently in a wave three up on the daily and you can see that The MacD line is definitely bullish So that's the daily I see that we're in a wave three up on the daily chart So I know that I know that I think we're in the way three of the daily chart then I go through our chart And same thing I do my I do my analysis I'm not all you know all these marks on here since you know, I do trade this so I have been doing my analysis So this is what I see This move was done. That's those way five. This is a very different ABC retracement of this whole move. I was back here So I see zero one two 345 and So I think this whole move is done the reason why I have this square here is because if you do retracement from the whole move That's around a 23.6 like I said, I think this market right now is very bullish So I don't know if it'll get down to the 50 but at some point I feel like this will kind of No, they were low or high or low or high down to the 23.6 and when it does and I see the maybe in may even bounce right off of this trend line and then I see a reversal pattern then I'm going to go along and then maybe a few contracts and see what happens, so I'm personally If I am trading the futures contracts I would either day trade or a sculpt so I'm in and out really fast So me personally I was taught to never trade against the trend. So this isn't a trend. So never short. You're not short but If you're a scalper and you kind of have an idea of what's going on you can Trade against the trend, but you gotta be quick. You gotta be you gotta can consistently be looking at your screen So you don't screw up and lose money So anyways, I see that this move is over. Let's see. It's actually plus some points and see How this looks so zero one two So realistically It came down to 22.6 Logistically if you wanted this if you said this was your way one and this is a way to that is okay, too Because what I was taught is a way to really gets close to breaking into way zero But if actually if this down here would if we call this a wave one up here This a wave two if this broke wave two down broke into wave zero Then it's not a way of two because it's not allowed to do that. Why I don't know that's but that's what I was trained So let's just say this was a way one way to a broken on a 76.4 When the extension on this it won't be very high Sentiment the highest 2200 wave of that. So I picked way three up Just touched the one six one Downs down for a way four. Let's look at that two three Almost a 61.8. So again for Fibonacci refrains The lowest you want to see is thirty point two to the sixty one point any more in this area So kind of broke past the fifty And they continue upwards We do one two three four And I had this blue line as my price target if you look back I said if it breaks this level price target is next line So once it broke this level it did I didn't reach this level, but I mean I went up right down Back over it and it just kind of tested it a couple times And then it finally went to that level so now This could either this way five kinsh may not be done either this could continue up to the one three point two Or continue up to the one six one eight So honestly right now, I wouldn't even trade this I will I would wait to see where this is gonna go and Then when I see it start to reverse because it look it's still above the fifty still above the ten And Once you see it open and close under the ten start working this way to the fifty That's when you know used to you start seeing the MACD Start hitting maybe not a single low There's no line but getting close See a crawl you see this kind of made a Very very shallow high high low high high you see this is going down That is a divergence. I think soon the momentum is gonna be gone This will retrace Okay now So that's where we're at on the daily We're on a wave three on the hourly chart We are in a way five way five may be ending and I might do a smaller traceman Yes, that's trendline and then continue on Okay But so these two charts this is just what I used to start my analysis and see where things are going to go and what which way they're going LA wave Fibonacci these are just Tools to help you and turn exit trades. It really comes down a dial theory and trends and what the trend is What the the Charts I actually trade on is this right here. This is called a rancor chart and I can't freakin click on There we go. This is the one I usually try this is a rancor chart and this is what I was taught by my mentor So it's obviously an uptrend. I do think it's gonna pull back soon and Rancor charts is it tastes it takes getting used to to understand how this works If you want me to make a video about how a rancor works Let me know but basically Rancos illuminate all the noise of a small little moves out of price action Rancor is just a very clear like as you can see put this plot from this point to this point and look how perfect it is bounces Offer here. So It's in a wave three up on the daily in the hourly, I feel like sooner should retrace if you look here double topped Down here Small diversions It may once it breaks past this point if it does It breaks past this trend line it breaks under the 50 and then I see a trend downwards I was actually once it breaks both these levels if it continues to go down I will short this and I'll try and get a quick scalp depending on how how it looks and how it sets up But I feel like soon. There's a divergence This may cross the MACD and a MACD difference line may cross and I will go short even though I was taught not to go against the trend Yeah, this just looks like it's pretty good set up right now but again with the market you gotta stay patient and Gotta wait