Forex Trading Strategy – Day Trading Confirmation Entry

everyone sterling here from day trading Forex live today I am excited to bring you the confirmation entry guys this is an entry been using you know almost 100% in the room we’ve really transitioned from a lot of different entries to being extremely specific with this one entry that’s, because it’s been been very very successful now are you going to win every trade no well you have a losing week from time to time yeah, but the consistency of end of month profits has been there consistently every single month we’ve been turning profit with this and that’s why I wanted to share with you guys I hope you know, if anybody’s struggling out there, if you’re new trader or, if you’re just a struggling trader you know this is the type of strategy that can really turn your trading around and I hope it does for you guys it’s a you know it’s something that’s it’s very simple, and, if you you guys know, if you’re new to trading I think about myself when I put out a strategy or put out something that I’ve been using that’s been working extremely well like I said I think about myself and I think about what would help me in the beginning you know I come from the exact same spot everybody listening this videos come from struggling sitting there you know dealing with oh my god I got to find something that actually does work for me can I make money in this market and, so you know as I sit there I think about myself and all the things that used to run through my head and with the strategies that’s why I love this one, so much, because it’s, so simple and when something is simple its repeatable and for myself when I was you know starting out trading and and having a successful trade here and you know doing really well for a few weeks and, then just getting slammed by a couple trades that was the one thing I struggled with and that was consistency and it was, because I didn’t have something that was simple I have something that was repeatable, so you know not having that really you know really deterred me from trading, because it was generally difficult to repeat you know repeat any type of success and, so I hope that’s what this strategy does for you guys you know I really want to put out something there that is going to help you guys and and I think this really will really will and I have a article on the site as well I wanted to make an article I’ve had some people that sometimes hard for them to understand English, but they can read text, so, if that’s you make sure you check out the article and the chart as well that goes along with the article, but let’s get right into this guy, so you can put into practice in your own trading first and foremost as with any of my strategies support and resistance plays a part in it every time we come in the room every single day we’re marking out support and resistance now you’re not marking out every single tiny little high and low you’re marking out points in the market where it made a good swing off that level you know you look at this resistance here and it made a real nice swing off that level you look at the support down here made a nice swing off that level, if you’re not getting at least a couple candle run off it you know 20 30 40 pips, then I usually wouldn’t mark that as support resistance as you can see here as well I mark resistance and support with the candle body rather than the candle wick you know you see here I marked the high the candle body rather than wick, because wicks tend to be emotional times in the market, so, if you can root out all that emotion you can get the actual you know what the actual resistance level was what was holding in price for the longest period of time that’s we can get your fair quality levels of support or resistance that are you know that you can trade off of, so we identified that resistance there and I will say before getting into this any further this is not a trade we took in the room this was this resistance level occurred around London and, then as the market pulled back up to it this is about a two three hours before we actually got in the room there was a really quality set up that I wanted to point out, because it illustrates trade the confirmation entry, so well getting into this it’s a three candle setup, and, if you guys you know want to write this down you’ll be able to you know be able to go back to that, but it’s a three candle setup first candle has to be touching some level of support or resistance as a market in this case was pulling up to this resistance level I was looking for the market to come into this resistance and the first criteria or the criteria for the first candle is very simply, I want to see it touching the resistance and, then closing as a reversal candle either shooting star or hammer formation, so as the market pulls into that resistance what I’m looking for you can see it didn’t quite hit that red line how I judge whether something hit resistance or support is whatever candle I’m marking the resistance or support off of does it touch the body of that candle, so marking the resistance off this little reversal candle here and you can see the market pulled back and touched the body of that reversal candle right there, so it did touch the resistance it didn’t quite hit the high of the body, but like I said it doesn’t matter to me as long as it’s hitting the body there the body that candle, so this first candle met all the criteria touch through touch resistance and it closed as a perfect reversal candle there, so first first candle all the criteria met that’s called our reversal candle very simply there now the second candle is what we call a confirmation candle in order to be a confirmation candle it has to meet one criteria in one criteria only it has to close below the body of the reversal candle, so you can see this next candle very clearly close below the body of the reversal candle, so now we have direction you know the first candle tells you that okay the market hit resistance and there’s a potential it’s going to reverse you know it’s telling you that hey there’s some hesitation in the market I’m slowing down a little bit I’m meeting an equal amount of buyers to sellers, but it doesn’t give you enough information to just to enter the trade you’ve all seen it where there’s a you know just an absolutely beautiful reversal candle and, then the market will blow through it you know you’re going what the heck just happened there now with this sorry about that guys anyways as we go through here you know we just talked about the second candle the confirmation candle now we wait for the confirmation to candle to close and here’s where things get a little bit different now with this third candle this little blue candle here slightly bullish what we do on the third candle is we wait for a pullback into the body of that reversal candle and that’s where we’re taking the short, so we’re taking it all the way up here now this was a good example sometimes the market will pull all the way back up here sometimes it’ll never give you a pullback and you won’t get a trade, but what you’re looking for as a general rule of thumb is for the market to pull back into the body that reversal candle for the entry short, so real quick let’s just go over this real fast and, so it you guys can write down or get ingrained down a bit more about what this setup is all about first candle it needs to be touched in some level of support or resistance in this case the market is going up, so we’re looking for it to hit resistance, so did this candle hit resistance very clearly did has to hit resistance and closes a reversal candle which that candle very very clearly did the second candle has to in order to be a confirmation candle for a short setup needs to close below the body of that reversal candle which the second candle very clearly dead now the third candle in order to take the entry needs to pull back into the body of that reversal candle now this is shown as a three candle setup there’s times in the room where we take it on a four candle setup you know it’s not something I’m going to go over extensive here, but sometimes it takes four candles for this to set up and like I said I won’t go over too extensively here just for time constraints, but just keep note of that sometimes you will see it and you’ll see what I mean is as time progresses and you start using the strategy, so I hope this video really helped you guys you know like I said before there’s an article on the site it’s got same chart chart screenshot where you’ll be able to go over the text and uh you know get a better idea for it, but, if you’re new to trading, if you’re struggling with trading really try and learn this strategy you know put it into use and you know it’s something that can really turn your trading around me I know it for me it definitely increased my monthly profits you know it’s it’s something that just amplifies where you’re already at, so as you go into this, if you have any questions whether you’re a part of the room or not I don’t I don’t really care about that I just want you guys to learn it, so, if you have questions feel free to email me and be more than happy to answer any questions you guys might have, so until next time happy trading I’ll see you guys with the next video.

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