How To Identify Powerful Support/Resistance - This Should Not Be FREE
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How To Identify Powerful Support/Resistance - This Should Not Be FREE
how can you identify the most important
and the most powerful levels of
structure they give you the best chances
of capturing trends and banking in
massive profits
welcome to the trading channel guys my
name is Steven you're honest trading
coach and in today's video you're gonna
be learning how to identify the most
powerful and most important levels of
structure to give you the best chances
of
baking in massive profits in just a
few moments I'm gonna be sharing with
you guys some extremely valuable
information that could be what you've
been missing in your trading all along
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[Music]
welcome back guys so first off let's
actually talk about why you should be
interested in learning how
to identify
these powerful and important levels of
structure
well for starters here we are on the
euro yen daily chart and on this chart
using exactly what I'm gonna teach you
today would have banked in over 800 pips
on this move right here
we also would have banked in over 600
pips on this move right here using this
analysis and we're actually coming up on
a possible short trade using this
analysis at the moment but we'll discuss
a little more about that later on in the
video and we'll also be taking a look at
this on multiple timeframes in multiple
different pairs this is not something
that only works on
the daily timeframe
and it's definitely not something that
only works on a specific pair this is
just knowing an understanding market
structure and how the market moves so
let's go up to a blank chart so let's
discuss a little more about structure
let's imagine you're getting on a plane
and you're going from Atlanta Georgia
all the way to California and I know
you're probably thinking what does this
have to do with structure but I promise
it's gonna make sense in just a moment
let's say you start to take off here in
Atlanta as your planes on the rise you
hit small amounts of turbulence on the
way up small amounts of turbulence on
the way up and then the plane drops 500
feet out of the air before taking back
off again and it does that once more
tell me something in this scenario are
you going to
remember these tiny little
moments of turbulence probably not right
will you remember these very large drops
and moments of turbulence yes you're
going to remember those right well this
is exactly how the market works as well
in order to spot major levels of
structure we can't be looking at these
little tiny pullbacks that would be the
small amount of turbulence you would hit
on your way up to cruising altitude in a
plane what we want to be looking for is
spots that the markets going to
remember
again imagine it as a plane look what
are the spots you would remember
of turbulence if you were taking off an
airplane you want to find those areas
and that's where you want to draw your
resistance and support lines right these
are going to be the major and powerful
levels of support and resistance and
we're going to discuss a few other
conditions that we're going to apply to
this as well it's not just the fact that
we have large moves down something else
we need to pay attention to is the fact
that in a trending market trending being
higher highs and higher lows the very
most important
level of structure in a
trending market is always going to be
the most previous level of structures
that was broken right here so if we have
a trending market the most important and
the most probable area you have to find
an entry reason and capture a winning
trade that's gonna equal massive amounts
of profits is right back at the previous
level of resistance now just
implementing this could completely turn
your trading around this can completely
change your trading and why you might
ask well because before now you've
probably been looking at tons of
different structure levels in order to
try
to figure out what's major what's
minor how are we gonna trade around it
well what if you only looked at previous
structure resistance that was just
broken for possible support how much
more simple would your trading plan
would your strategy be if that was the
case exactly
so not only this but we're also going to
implement and what I'm also gonna be
teaching you guys today is how to spot
very important levels of structure that
happen after consolidation so the most
important for a trending
market of
course is the previous level of
resistance that was broken let's say we
have an uptrend the previous level of
resistance that was broken is going to
be the most important and most powerful
level of structure we can find now let's
say we're at our cruising altitude hit a
little bit of turbulence up here that's
probably enough of the airplane analogy
honestly so we'll just continue here but
then let's say we get this drop right
here if we were using the airplane
analogy we're heading down to the
landing strip
after this drop something we can pay
attention to again we're looking at the
most recent
level of structure that was
broken what's the most recent level of
structure broken right here but here we
have even more power and even
or important level of structure the
reason being because this was previously
a level of consolidation we have
multiple touches in this level so once
the market breaks through that that's
gonna be a very accurate a very powerful
and a very important level of structure
to pay attention to for trading
opportunities in the future to push the
market down and as we go into
trend what
we're gonna be looking for is just the
most previous nothing else only the most
previous level of support that was
broken in a downtrend so once we have
that most previous level of support that
was broken in the downtrend we can place
a horizontal line there you can just
watch it on your chart wait for the
market to get there provide you some
kind of reason for entry and push back
down now tell me something would that be
a level of significant structure with
that no these two levels would not be
significant you would not remember that
as turbulence if you were coming down to
the landing strip on your plane rod and
we actually need rules to try to define
these right or at least outlines of what
these smaller levels are we need
outlines of what we can actually count
as major
structure support and
resistance the way I like to do this is
if these little areas are two or less
candles and they do not retrace a very
large amount let's say more than 38.2%
this way you can actually use a
fibonacci so if this right here is not a
38.2% retracement of our high to low
move and it's less than two candles then
this would not count as structure so
that's just a brief overview of how you
would create rules for that that's not
something we're going to dive into in
this video it's a little more
complicated stuff that we discuss over
at the EAP so I know that may have been
a little bit drawn-out but hopefully now
you have a really good understanding of
what we're gonna be looking for in
today's video and how we're gonna be
spotting these important and powerful
levels of structure now we'll go down to
the charts take a look at a few live
examples of this and later on in the
video I'll be showing you guys an
indicator that you can combine with this
analysis that can increase the
probability of hitting these massive
trades even more so make sure to stick
around to Lee and for that let's go
ahead and go down to some live charts
and take a look at a few examples ok
guys so here we
are back on the euro yen
chart and now we're gonna discuss this
analysis once more now that you have the
knowledge we just discussed with our
airplane analogy but before we do that
to show you guys that we actually trade
based on this type of analysis I'm not
currently in any open positions using
this type of analysis but we did have a
trade on Monday in the EAP training
program using this analysis so let's go
ahead and go over to that email right
here's that email that was sent out to
traders three six which was Monday and
as you can see on the chart in front of
you
what we had here was a
break above a
previous resistance while a market was
in trend this is our previous resistance
in what we waited for is the market to
pull back to that resistance level
before opening a position to go long we
ended up getting first targets hit on
this trade for around eighty two pips
we'll head over to the dollar canada
chart and show you guys the profits on
this and guys if you learn more about
how to get emails like this three to
five times a week and join us in the EAP
training program then to learn more
about how to do that there's a link in
the description labeled EAP training
program heading back over
to the charts
now let's look at the dollar canada
we'll go back over to the email scroll
down as you can see our first target was
at one point two nine nine nine if we go
back over to the dollar canada chart and
place a horizontal line at one point two
nine nine nine as you can see we barely
ended up getting those first targets
clipped here on this trade so that ended
up being a win of over eighty 3 pips
using the exact analysis we're talking
about in this video as you can see just
to go over it one more time we have a
market in an uptrend big turbulence here
or that major level of structure before
breaking back above that level of
resistance and then the pull back into
that resistance gave us opportunity to
enter
the market and capture over eighty
two pips of profit and now we'll drop
down to a four-hour chart I'll show you
guys just a couple of other examples of
this so you can see that it doesn't only
work on the daily chart here on the
four-hour I already spot one we have
this push down big turbulence right
consolidation area one two three touches
after we get a break below these touches
what happens the market pulls back up
directly into that previous level of
structure and let's go ahead do this on
one more pair let's go ahead and go to a
different chart let's do the pounce with
this is gonna be completely random guys
and let's go down to a 15-minute chart
so on the pound Swiss 15-minute
chart
again this was completely random I did
not look through
charts to try to find the best ones for
this or anything like that but here as
you can see we have a previous level of
resistance right here the market pushes
up breaks above that previous level of
resistance then what happens we pull
down right into that level of resistance
and so far we started up into new highs
I would actually expect this to break
into new highs and continue into trend
continuation here on the pound Swiss so
there's a few other examples on
different pairs in different timeframes
of this working out now we're gonna do
is discuss a way you can add an
indicator to this to actually make this
more non subjective meaning
easier to
follow with a set of rules and even more
accurate so let's head to a different
chart and do that now ok guys so here we
are on the dollar Canon and what we're
gonna do now is just combine a very
simple indicator with this structure
based analysis we just talked about in
today's video and I'm gonna show you
guys how to create non-subjective rules
to build a strategy around or to build a
trading plan around for absolutely free
so guys if you found value in today's
video then make sure you go ahead and
click that like button for me if you
find this content helpful and you want
to learn more about some of our other
paid programs and dive a little deeper
into your Forex education then you can
find out more about those by clicking
the link in the description labeled EAP
training program or by going
over to the
trading channel dotnet but let's let's
go ahead and apply the indicator here on
the dollar Canada we're on the dollar
Canada one-hour chart again changing
timeframes changing pairs to show you
guys that this works all around and
let's go ahead and apply the indicator
now which is going to be nothing more
than a 200 day exponential moving
average so I'll go ahead and let you
guys see me edit this so you can see
that this is exactly what I'm doing make
it black so it's easy to see a little
bit thicker and 200-day exponential
moving average okay now that we have the
200-day moving average on the screen
there are rules we can apply to make
this almost completely non subjective
is the fact that we want to see a market
above the 200-day moving average in an
uptrend making new highs
before looking
for that previous level of resistance to
become support ok so let's do that here
on the dollar Canada so we get this
break above our 200-day moving average
and our previous high right here right
then I'm gonna go through this entire
chart with you guys
February 16th or 28th
we're to go all the way to the daystate
just doing this and again guys I haven't
went through charts and tried to find
the best scenarios for this you're going
to see losing trades doing this you're
gonna see losing trades while we do it
on the dollar Canada I'm sure I don't
really know how to check but I'm just
gonna show you guys the power of this
especially combining it with this
indicator and making it non subjective
so let's take a look here once again
pushing above the 200 pushing above our
previous high
right here what happens
next well we get a pullback into our
previous level of structure what did we
just talk about we wanted to get this
pull back into this previous level
structure was this a major level of
structure yes this would have been a
large amount of turbulence in an
airplane right so that major level of
structure after the market breaks above
the 200-day moving average and that
level of structure then pulls back into
it would be a great place to look for
some buying opportunities we get those
buying opportunities we push up we do
what now we break above our previous
level of resistance right that previous
level of resistance is right there then
what happens this level of
resistance
does it look like it would be a spot you
would remember on an airplane if you
started to take off and had this big
drop out of the sky due to turbulence
yes right this level right here this big
drop would definitely be something you
would remember so it is a major level of
structure after breaking above it we
pull back to our most recent level of
structures that we broke boom we pull
back into that area we get another push
higher this push higher breaks above
what our previous level of major
structure again airplane this would be
big turbulence this is the most recent
level of structure that we broke we come
across the market pulls back doesn't
quite get there again it's not going to
get there every single time you're not
gonna get a trading opportunity every
time you break in a new
highs but this
is the most accurate place in a trending
market to capture large gains and
massive profits so let's go ahead and
scroll the chart sideways now this is
our new level of structure that's just
been broken that's what we're gonna be
paying attention to scrolling sideways
and now we have another new level
because of this consolidation in through
here this would have been major
turbulence pushing down right so this is
going to be our level of structure right
in here where our line
is at one point
two six eight even
that's what we're gonna be looking for
for possible trades market pulls down
into that area gives us a trade boom
okay let's see that again this area what
did I say one point two six eight as
soon as the market pulled down into one
point two six eight we got this massive
push up awesome let's continue
continuing continuing here would be an
example of a loss we have the market
pushing breaking above our previous
levels of resistance pulling back into
those levels of resistance if we would
have gotten an opportunity here to enter
the trade based on an entry
reason then
more than like who would have been
stopped out of that trade on the way
down and now something interesting
happened now we started creating new
lows well we're not looking for a trade
anymore at all
until we break into new highs because
we're looking for trades based on our
most recent level of structure breaking
so we're not looking for anything we're
not looking for you think now we're
looking for trades why we just broke
above our most recent high this would
not be a pullback we'd remember on a
plane this is not our major structure
this is our major structure continuing
looking for trades at one point two six
six even pulling back now getting pretty
close that
would have been really close
to our zone really I mean looking right
in here at this previous zone of
resistance and let's see what happens
with the market we get that pretty big
push up awesome next up we would be
looking right here one point two seven
one four possible trades market pushes
up then we break above our next
resistance level here what happens after
that we pull back into that resistance
level and push up and guys that's all
I'm gonna do for today this is gonna get
really drawn-out I'm sitting here
looking at the time on this video and
it's getting pretty long as it is so as
you can see this works on multiple
timeframes with multiple pairs and
adding that 200-day moving average or
your choice of moving average or adding
other conditions is not against the
rules you can add any other conditions
to this type of analysis in order to
make it more accurate for you if you're
someone who's been struggling in your
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trades hope you have a great
weekend and I'll talk to you in the next
video
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