 All right. So everybody, welcome back. So what we're going to do today is we're going to continue on with a little bit of TA training, and everybody does things a little bit differently. So we just talked to CJ from Market Rebellion. He took a look at how he does things and gave a brief introduction and explanation of what's going on the market as far as technical analysis. Now we've got a friend of the show, Wynn Mullet, who is going to be showing his system and how he does things. And as a reminder, everybody does TA a little bit different. So that's why I invited Wynn Mullet. Unfortunately, he had a horrible accident and I cannot show his face. Now I'm just kidding. He's just very much in the privacy. So we just got to welcome Wynn Mullet. So thanks for coming on. Show us what the whole system is. Hi, Rob. Thanks a lot. My model is pretty simple. It's designed for beginners and experienced people. I learned this from Steven Bigelow, who teaches candles and candle charting. And the system works for stocks, for forex, comics, works for crypto, for me. A lot of people when I first got started said that the approach to stocks and the approach to crypto would be different. I don't see it that way. And a lot of guys who share this model, we've made a lot of money with it and they don't see it that way either. So again, this is going to kind of be geared towards beginners and people who may have no clue what we're talking about. Right. And I would like to start pretty much with the fundamentals of what are we looking at here. Here's my chart. Do I need to share my screen? Yeah, so I'm going to make sure that you have access. And then click on that green button share screen and then pull up the chart that you want. And then as as well as doing that, as a quick reminder, this is not financial advice. Now, different traders and different people and investors will make so much money here and there. But everything that we talk about is not to be construed as financial advice as your results may vary quite greatly. We'll just say that so not financial advice in terms of results only. And this is just a system. So let's take a look. Absolutely. And I almost encourage people to think very hard before starting trading. And when you do get started, you should paper trade. You should have a journal. You should make notes of I'm buying this because of this reason at this price on this date. I expected to obviously we're going to expect it to go up. If it doesn't go up, then you can go back and kind of figure out where you misread the chart and then learn from that. So if you're going to get started, I would advise you to paper trade at least three months, almost on a full time basis until you get comfortable with what you're doing. Yeah, never ever go in and use your whole bankroll. Okay, I know if you're going to put $1,000 into it, start with 100 bucks, start with 50 bucks and do one trade at a time. If you can take that 50 bucks and make $10 with percent, that's a great trade. Get out of it and find another one. Right, so it makes sense. So first, when you start just do it on paper meaning no money whatsoever. Second level would be like just like 510 bucks if you can afford it, then maybe become a baller and then go, you know, whatever you feel comfortable with. Again, not financial advice, just a good way to look at different aspects of TA. All right, so what do we got here? What do we got here? What's this token? Well, this is a chart and this is a candle chart because the price indicators here resemble a candle. Let me kind of zoom in a little bit. So the green candles are a positive day where it opened the bottom of the candle, it closed at the top of the candle. Now we know crypto's 24 seven and I know see at 6pm Eastern time, I believe is when the new daily candle form. So you have to have an opening close. So arbitrarily, that's the time when it does it. So the wicks above and below the body is just the price action for the day. The price dip down to here during the day. It jumped all the way up to here during the day. But at 6pm when it closed, that's where it was. That's where the candles produced a red candle is a down day. Your red candle is going to open at the top and it's going to close at the bottom. Right. Very simple. So that's that's what we're looking at as far as the candles is concerned as the price action. For that given timeframe. This is a daily chart. I do most of my charting on the daily. You can pull up a monthly, a weekly where each candle is a month, each candle is a week. You can do daily. If you're into a little bit more day trading, you can do it on an eight hour you can do it on a five minute if you want that's getting pretty extreme but the system that I'm going to show you works on any timeframe. Okay, let's take a look at the system. So tell us where we should be selling and buying. Well, this orange line here is the eight unit eight day we're on a daily chart so we'll call it the eight day exponential moving average. So eight EMA got it. EMA. There are simple moving averages and then there's the exponential. It just gives a little bit more weight to the price action towards the end of the period. So simply put, if you get two candle closes above that eight EMA, you would buy it or hold it. If you get two closes below it, you would sell it. It's okay. Great. Show us an example. Right. We're just going to pick this up here in no particular spot. This works. You can go back and look at this on any chart for any item you may want to buy. And this holds true. Okay, so here we got some sideways action. We're down below. So we're just watching it and we're waiting to say, okay, where's our entry point. So we got a candle. We got to close above. We got to close below. We're waiting. We're waiting. We're coming up. We have one close above. We have two closes above. Boom. There's our buy signal. We just bought it. Okay. So we're going to ride it up. It's touching it open below but it closed above. It keeps going up keeps going up. We have one close on the line. We have a close below. We have another close below. The system says two candle closes below the eight. We would sell it. Gotcha. So we bought it down here. We sold it up here. We just made money. Great. So let me let me recap just to make this make this quick. So that yellow line right there you're talking about the eight EMA right the eight expansion average. Right. Once we see two green candles form above it or close above it. That means we should we should probably think pretty hard about buying we buy it right and then we wait wait wait until we find two bearish candles looking like the red where they close below that yellow eight EMA and then we say okay probably time to sell very simple to above buy to below sell right that's it. Now there's a couple of caveats which always there always is because this is what we're trying to predict the future. Nothing's 100% foolproof. The system works 70% of the time. Yeah, the charts. The market is there to fool us and take our money from us so you have to you know you have to be careful and you have to you have to watch it closely. The caveats are if it's been going if the markets been going down for a while that down with gravity is hard to break sometimes so instead of just two candles above you may want to give them a few extra candles to make sure that it's reversing. Okay, the other caveat is the further away from that eight EMA the candle goes the more likely it is to return to it. So if you bought down here where you should have and you're riding this up and you get a big giant day that looks like about a 50% day which is unusual. You may want to take some profits at the top of that candle because you know the candle is going to come back down and then you can rebuy and you more or you take some profits and buy your precision back. That's the other caveat. And then the third caveat is if you do have a good profit in something and you get two candle closes below, you might want to give it a couple of more just to see what happens here. This one kind of went sideways for a little while, and then it took off again, and then it took off again. So if you got a good profit there. You didn't really lose anything because you didn't sell it but you may want to be a little patient and see if it's going to take off for another leg and take off for another leg. Okay, gotcha. So, and then it's one of those things that you said before, like it's amazing how a short term losing trade becomes a long term investment. So, if you hit it on the wrong parts and just say, you know what, maybe I'll just hold on this for a little bit, just like the weather in Houston, you don't like the price, it'll change maybe in a couple of days. Absolutely. However, again, not financial advice that makes it very simple. So, to above buy to below sell some caveats there as they go up a little bit too high, maybe he's considered taking profits and remember, there's a very big difference between the mindset of a day trader and the mindset of an investor. Day traders or traders are looking for a short term type of game, and they can get out at any time. Long-term investors of course are just looking at the long-term viability of an actual cryptocurrency, a company, a digital asset, and then we'll write it out up down sideways doesn't matter to us, and we'll go the whole way. Traders a little bit different, investors a little bit different mindset. All right, Mollett. Absolutely. Thanks so much for making it simple and quick. Anything else before we take off here? If you're interested in learning more about candles, Steven Bigelow is a good resource and actually this is, this philosophy is based on his teachings, and if you're really interested in learning how to chart. There's a good YouTube channel TA with Keith Way, L-A-Y-E, he uses this model, he teaches it. There's a lot of guys in there making a lot of money with that, and they're always welcoming new people in. He's got, does a live stream on Tuesdays and Thursday nights at 11pm Eastern Standard Time. If you'd like to join us there, you're welcome to. All right, I'll link that into the description, and that is it. So everybody take a look at that, maybe watch it a couple times, make sure you got it. It doesn't seem too tough. And that is it for today. So if you found value in the video, give it a thumbs up, consider subscribing. And that is it for this one. And again, thanks, Mollett, for coming by, and we'll see you on the next one.