Live Forex Trading Analysis — Step-by-Step Guide & Transcript

[00:08] It's been a while. This is my live. This should be my first live this year. So, we're going to analyze um the forex market today. I hope you um the forex market today. I hope you guys are ready.

[00:25] I'm just going to give it a few minutes for more people to come in.

[01:27] comment and let me know that you can hear me.

[01:50] comments. Okay. Yeah, D can hear me. So, just let me know. just let me know. Let me know the the country and the state you are in. For example, I am

[02:07] For example, I am in Lagos, Nigeria. So, let me know the country and the city.

[02:31] Okay, awesome. The country and the city.

[02:48] Glad from Lagos, Nigeria. Lam is in South Africa. Doorban

[03:08] Rivers Nigeria I see you. Enugu Abia states Enugu Abia states adoi calaba code divor so we're going to start we're simply

[03:23] going to look at the the forex market tomorrow we'll do crypto be same time 2 p.m. or same time no matter the region you are in same time tomorrow we're going to do cryptocurrencies we analyze the crypto market but today we are

[03:39] looking at the forex market we're particularly looking at um Euro USD um GBPUSD GBP JPY

[03:51] GBP JPY um Australian dollar USD and maybe gold so I'm going to share my screen right away so we get to

[04:08] thing we'll do is look at DXY. DXY is a dollar index, okay? To know where the dollar is going. So this is going to be a quick one because basically I've marked out a lot of things. All you have to Oh, I'm not sharing my screen.

[04:23] So basically I've marked out a lot of things. um just to explain to you guys. Now on the 4our time frame, but honestly you don't even need to go beyond the 4 hours in your analysis. All right. So on the 4hour time frame, we had a change of

[04:37] character here. So change of character just simply means that the market has been trending downwards. You can see here we've been downwards. You can see here we've been having a downward movement. Okay,

[04:49] down movement. So this is the last high we had before this breakup structure we had over here. and breaking that structure with this move leads to change of character. It means that the dollar is ready to start going high. So it

[05:05] means that the dollar if you look at the general um view is ready to come up to general um view is ready to come up to this high. This is these are months this high. This is these are months worth of um movements. So we can ride

[05:20] this move up to this point and probably will come down again. So this is what character and you can see that on the four

[05:34] So now that is what we have this change of character. If you if you look at this of character. If you if you look at this market has been ranging from um April of 2005 and right now we are having this like a year worth of range. We're having

[05:47] a change of character here showing that it's ready to move up now. Normally when you see this I was expecting a retracement to this region

[06:00] this region here then we can go higher because we have a change of character retracement to this region and we go higher but that didn't happen okay I mark a golden zone which um I dropped on this call as well and we are reacting

[06:15] this call as well and we are reacting from that golden zone so if I zoom in what am I expecting if I zoom in. Okay, since we didn't come down here, mind you, we just react to what the market is say is doing. This is the last break of

[06:30] structure. This is my external high. We are going to take out this external high. So, the market can do two things. One is first it goes and take out this external high. It comes this way, take out this

[06:44] external high. That is one possibility. The second possibility is that we have a 4hour demand zone here. It might come down from here. down from here. Okay. Then take out this as high. So we

[06:58] want to trade based on what the market what it tells us. If it comes down here and gives me a confirmation entry, I call it CE call it CE confirmation entry, then that is when I

[07:12] would take this trade. This is on the 4 hours. So I'm going to go to the five minutes and look for a confirmation entry. is usually like this. You see the market do this then this is when I take the trade okay

[07:26] on the 5 minutes. If that happen in this region this if you do this you will end up not um taking a lot of losing trades the trades where your stop loss heat gets hit you're going to avoid a lot of them. So uh this is what I'm expecting

[07:41] don't have a change of character here and it goes lower to this point, this is that's where I'm going to take my trade to go higher from here. So this is the general overview of the dollar index. And you know if the dollar index is

[07:56] doing one thing, you expect the euro USD, GDPUSD to be doing the opposite. USD, GDPUSD to be doing the opposite. Okay.

[08:09] So but if you look at this, let's look at this again. We have this movement this way. Okay. Higher high and higher lows or lower highs and lower lows. We lows or lower highs and lower lows. We have this movement. So this break here

[08:23] is a sort of change of character. Okay. Because this is the first time we're moving. The market is more like showing us hand on the lower time frame that okay I'm about to go ahead and take out this particular high that we have here.

[08:36] So this is giving me a lot of confidence again that if this market comes down this way I'm going I'm going higher. If it ends up breaking through then I'm also expecting a retracement to this region to go higher. So that is um the

[08:53] DXY and of course you don't trade the DXY. You want to go and trade the Euro DXY. You want to go and trade the Euro USD JBUSD. The DXY is more like telling you the general movement or what you expect to happen in this other

[09:06] expect to happen in this other currencies USD. If you look at the same thing, I'm let

[09:19] If you look at the same thing, I'm let me go to the 4our time frame. Okay. Um, if you look at this, you see that change of character we had on DXY,

[09:32] you see now that we're having it on the opposite side opposite side in Euro USD. So if the dollar if the dollar index is doing this,

[09:44] the Euro USD does this. It moves in opposite direction. So it's more like they confirm each other or I look at the dollar index first to like confirm the euro USD. So if you look at this price action the first thing I was

[09:57] looking at when this market was here was that we go all the way to this point before coming down. Once we had this break change of character here but the same thing that didn't happen I deleted some things here but before we had we

[10:14] some things here but before we had we have a demand zone just here had a demand we had a supply zone here rather so this reacted off of that demand off of that supply zone and we seems to be um going lower now there's

[10:29] something I left here um I was like I dropped this on this code that if we dropped this on this code that if we have a break here then have a break here then if I see a retracement to this point because this is the supply zone we

[10:42] point because this is the supply zone we have then I'm happy to take a trade from this particular region to go lower so right now we've had that break at a break and closure at this particular point I'm simply going to call this now

[10:57] point I'm simply going to call this now a break of structure I'm simply going to come here and call it a break or structure

[11:22] Okay. Someone's asking can I can you trade PEP? Can you trade perpetual trade PEP? Can you trade perpetual um USD euro on buy bit or is there other better trading platform? Bybit now has what they call trafi. So if you want to

[11:35] trade forex, you want to trade euro USD, any traditional currency pair, be it gold, eurous USD, um the stock market, commodities, oil and all those things,

[11:47] you can still trade it on buy bit in the buy bit right section. Once you go to your trade section at the top menu, you will see different things. You see options, you see futures, sports, trap, file. You're going to see everything

[11:59] there. So yes, you can trade this on buy bit. to trade and the good thing with trading on buy bit is that you don't even you don't even need to connect MT5 or MT4 or any of any of

[12:17] connect MT5 or MT4 or any of any of those. finance. This is what we trade. Let me put this

[12:33] on the screen. Tradfi is traditional finance. So before we had crypto, we had the forex market, we had the stock market, we had indices, we had market, we had indices, we had commodities, we had metals like um

[12:47] metals, gold, silver, um you know all those commod is oil, cocoa and all that.

[13:02] and all that. So you can trade everything now on buy bit. So trafi is a traditional finance before So trafi is a traditional finance before crypto. Okay. So back to euro

[13:17] USD. Now we had have a break of structure here.

[20:44] I want to be sure I can be heard because I couldn't hear anything again. comments. Type one in the comments.

[21:50] I am not actually getting any feedback. So I don't know switch my internet one. I have like four internet but it seems

[22:02] internet but it seems Let me switch.

[23:35] network or if is the software I'm using to stream. It just keeps taking me out and, you know, taking me out each time. But once we get to this particular zone, But once we get to this particular zone, I want and I see this then that is when

[23:48] if you see here on my chart, I have an alert at this particular zone to let me know. So I don't have to sit on my light on my on my chart all the time. Once you have it set, then you're good to go. So this is the game plan for Euro USD.

[24:04] Wait till it gets to this joint, then shot up to this point. And I tell you it's possibly we can even short up to this particular zone we have here. But this particular zone we have here. But on the lower time on the um short time

[24:17] this is a place to target. So that said I'm going straight to GBP USD I'm going straight to GBP USD GBPUSD the same thing. Right now we have

[24:29] this is not quite clear because if you look at this particular zone on JBPUSD look at this particular zone on JBPUSD is not showing any supply zone here. Now the reason why we didn't get a lot of we have we had a lot of choppiness last um

[24:44] last week was just because of the Iran Israel US war. that war and the close of the straight of homes is what is causing the market to just be really really

[24:56] movement, this should be the movement that I'm expecting. If you look at this, if you look at the way GBP USD has been moving, so I've been having change of character from here. You can see we have breakoff structure, breakoff structure,

[25:10] breakoff structure. Each time it breaks, we had a retracement. This didn't give a proper retracement here but here we had a another retracement to this zone and right now we're attacking this external low again.

[25:23] So it simply means that we should expect the same thing even up to this zone because we're trying to we're trying to take out this zone. So I'm expecting the same thing break um break of structure here movement upward and continue

[25:39] downwards. It's as simple as that. What you want to do is simply take these you want to do is simply take these entries here. You can take the entries entries here. You can take the entries here

[25:57] after you had to take the entries here. Look for particular point on the lower time frame and take it. So this is still my play on GBPUSD. Most of them are just basically the same thing. Then for GBP JPY, this

[26:13] is one trade I take a lot, but I miss a trade here though on this particular you what I mean. Okay, so we had a change of character here. I drew my change of character here. I drew my golden zone here, but I didn't see

[26:29] golden zone here, but I didn't see um I did not see in this region. I didn't really get that confirmation entry. So that is why I didn't take this trade. But you can see the trade went really really um well and

[26:42] right now it's the same thing we are seeing. We are seeing the market is seeing. We are seeing the market is dropping um really really fast. Okay, let me go to the 4 hours to get a broader view of what we're looking at.

[26:58] broader view of what we're looking at. So right here

[27:12] a break or structure. Why? Because this movement up here didn't actually give us it didn't go above here. So this is more like an internal shift. But the way the market is dropping, I expect it to continue dropping. But from the way it's

[27:27] dropping here, we might have a lot of opportunities to actually take this market up this way before it comes down again because the of momentum which means that there might be opportunities to trade this higher to

[27:43] be opportunities to trade this higher to the upside. Okay, market is dropping because of the um New York

[27:59] NYC open. So that is New York session. Yeah, it is. It is. It opened. It opened like over an hour ago

[28:22] retracement. I'm going for an entry. Another currency I started trading of Another currency I started trading of recent now is the Australian dollar. It has it has given me quite some good entry in the past. So if you look at

[28:35] entry in the past. So if you look at this, okay, the same thing break of structure here, change of character. The reason we didn't really get a lot of opportunity to trade last week is just because of again the Iran war. So we had

[28:48] because of again the Iran war. So we had a very efficient movement on Discord. I saying that um if you look at this from this particular point when we have this this break of

[29:02] structure we had this golden zone at this particular point. Okay. But if you check the area where we have the golden zone we don't have any any like um f value gap here to confirm

[29:20] any like um f value gap here to confirm this. Okay, where we have a supply zone is at this point. And the reason why it's a supply zone is simp it's a supply zone is simp simply because we have a tiny imbalance

[29:33] simply because we have a tiny imbalance here which is a fair value gap likely going to reverse here. So this is the point again is beginning to stall at

[29:47] this point. It's stalling here. So this is still the point I want to look forward to a change of character in the lower time frame. The target is still this point this 0.6

[30:02] target is still this point this 0.6 um 0.67666. here. But this is the zone I'm looking at basically because of the change of

[30:14] because of the imbalance that we have here. So again um break a structure retracement trade down break structure retracement trade down and that is basically how you play this game. The major problem what people have is with

[30:29] the entry and the exit. Let's look at gold. So, gold has had this gold. So, gold has had this um massive

[30:41] um massive this particular massive swing here. has been trading in this region for days. Okay. And finally, it break lower.

[30:59] It broke lower to form what a change of character because you look um this is all price action movements. Okay. Did this price action movements. Okay. Did this go above here? Okay. Yes. So we have

[31:13] gold do this. Gold has been going making higher highs and higher low. When he broke this high, he made a low, then came to make this

[31:25] high, then made this low. And since that time, we have been ranging in this particular place. And finally, since this is the of character. I'm just seeing I'm just looking at it right now. This is not a

[31:40] looking at it right now. This is not a change of character. Please forgive me. really a change of character. Why? because we did not see a break. This

[31:52] move, this move did not go above here. And if change of character. So it this is actually wrong.

[32:09] It's some it's kind of some sort of um internal break or structure. The real change of character is going to occur at

[32:21] This here will have the change of character because this is the last load that let that high. So I can yes I can call this the change of character call this the change of character actually.

[32:40] here or here. Again, all you have to do here is wait for confirmation entry to enter here or wait for confirmation entry to enter here. It's as simple as that. There are two other markets I look at

[32:55] again on the side because I've seen them give really good price action which is give really good price action which is the which is the S&P 500. Okay, I've actually been following this and I've taken some trades on this one. So right

[33:10] here I'm still looking at this particular two zones because this is my golden zone and this is where I have an other block a a supply zone. So whatever happened in this particular zone these two zone I'm looking to take a short. So

[33:25] the same thing is happen with the with ENQ. So this might be this might actually be the trade I take before all this one because this is already moving this one because this is already moving higher. You can see here that this is

[33:40] already moving higher. Okay. When it gets to this zone and gives me a confirmation entry, this is when I take this trade and the target is going to be this point. Mainly looking at this. If you just do this already um short

[33:55] position here from this particular point target the high target the high okay to this zone this is actually a 2.5 okay to this zone this is actually a 2.5 um 8 2.53

[34:10] but you want to cover the high. So this gives a very not so good riskreward ratio. That is why and this is on a 4 hour time frame. That is why you want to

[34:22] go to the lower time frame. Okay? Watch for that change of character. So if you have a change of character this way on the lower time frame, you have change of character this way. On the lower time frame,

[34:40] This becomes your high. Let me let me just show you guys a real example. Um, let me go back to the S&P 500. Let me show you guys a real example of what I mean. So, we're going to look at this particular zone.

[34:53] particular zone. We're looking at

[35:09] frame. just to show you by what I mean by the confirmation entry. So since we know that this is a zone want to take a trade that this is a zone want to take a trade from okay

[35:26] the this is the last high this is the last low. So once we have that particular break here from this point let me go short. Once we have that break from this point,

[35:48] midway after that break I go like midway to get a good entry. Then because on the lower time frame you can now go lower. You can see that this simple trade

[36:02] frame is giving me a riskreward ratio of 3.82. 82 character. Let me show let me show you again. So we have this uh movement we

[36:15] having this movement. This is our area of interest. This area this our golden of interest. This area this our golden zone right or supply zone. Now on the zone right or supply zone. Now on the five minutes you look for this.

[36:28] This keeps going came down went broke structure this way then did this. So structure this way then did this. So once it broke structure here again okay at this point this becomes our change of character and it's from this point you

[36:44] can take your entry you can wait for a little retracement it's at this point you know take your entry just that's simply how you trade entry just that's simply how you trade this market so I've shown you DXY Euro

[36:58] USD is still going I've shown you Euro USD we're waiting for a retracement. Showing you GBP um JPY GBP USD waiting for a Um GJ Australian dollar showing you gold as

[37:17] GJ Australian dollar showing you gold as well and showing you um S&P 500 and NASDAQ 100. So this is what I'm looking at to trade this

[37:29] straight to um question you want to ask me, just go ahead and ask me. If you want me to look

[37:44] at any pair, just go ahead and look at just go ahead and tell me. Other than that, I'm going to end this live stream. But the same time tomorrow, we'll go to the crypto market and analyze some things in the crypto market. there is

[37:56] every possibility that Bitcoin actually hits um 44K. I know it sound crazy, but it's very possible. I'm I will also show you that analysis tomorrow and we'll analyze any coin they want me to analyze by 2 p.m.

[38:11] tomorrow, same time as as today. So again, question and answer. If you have any question for me, just let me know in the comment section.

[39:55] successful trade. See you guys same time tomorrow. Bye.