Good d Morning traders welcome to for trader uk now just a just a very very quick video here not going to drag this out too late but i want to show you the power of having a system that um that if you look back in your charge you will see that the trade that you’re looking to take may have already already taken place uh some time ago in your charts now what i mean is let me just jump into the chart in the pair that i’m looking at here on one day i’m on the daily chart in fact let me go up the time frames i’m on the the

monthly chart here of the australian dollar news and the new zealand dollar the aussie kiwi now as you can see here price has just been cycling sideways for years i mean this is 2015 okay and price has been just um cycling after this long this long decline in the aussie dollar okay price has since then just been cycling sideways now if you saw my video at the beginning of the year you will know that generally speaking i am bullish the australian dollar now the aussie dollar and then and the kiwi the kiwi are very similar in their nature but they’re also quite different in certain ways and as you can see here we’ve not really been going anywhere but there is potential for you to trade in this melee here now let me just go down to the time the daily chart and let me show you what i mean when i say that price moves repeat themselves earlier on or later on in the day now let me fatten this up let me just see if i can just get all of this in now what i want you to look at the first thing i want you to look at let me just get my annotation tool here the first thing i want you to look at is this impulsive move here okay then we have a correction we have a three wave correction down into this low here okay so we’ve got this impulsive move and all of this up down up down is a correction is a correction of that impulsive move now if you now that was in june 2 started in sometime in april 2015. now if i move across here now to june 2017 you have this impulsive move and you now have this three wave correction down into this low can you see the similarities between these two now let me just let me just oopsie there so let me just get rid of that actually one moment there let’s just get rid of that last one okay i’ve added two extra ones there which i didn’t mean to okay so let’s minimize that again so now let’s just go let’s just move the price to the left here and let’s just show you what’s transpiring now we have this move here impulsive move correction correction potential correction potential correction guys now if you look at these if you look at these three patterns look at the similarities between these two patterns these three buttons it’s almost like an m shape isn’t it m shape there m shape unfinished m shape here now you can see that can’t you let me just put that incorrectly now remember i am bullish longer term the australian dollar but what i actually see here now is i see that we are in we are not finished this leg down and i believe that this price can go to this low here and i’ve done some measurements which tell me this is where i should be aiming for for a potential turnaround in price so let’s now sort of homing let’s zoom in now on the chart and see how if there’s an entry there for me so let me just get rid of some of this for now and as you see what’s the time yeah it’s 20 past 11 since we’re live i’m doing this analysis live and as you can if i look to the left here you can see the timing the time clock for this bar ticking away and you you periodically see the prices just move there as it turns red so you know this is live analysis now let’s get rid of all of this so we know i know that i want to be short short term i want to see if i can pick up pick up some pips to the short side with a view to keep an eye on this trade and then seeing if we can’t get long at a later stage stage so let me just measure this if i was to get along here and let’s say price did go down to where we wanted to there’s 460 pips there guys if i’m right about this pattern there’s 460 pips there now let’s home in on this little section here this is the m the last m that i’m talking about now you’ve got this impulsive move you’ve got this down correction you’ve got this up correction and if you remember we’re looking now for price to push down so the next question becomes where can i get on board this trade well i can see let me just keep let me just keep going down the time frames i want to see now i want to understand what i can see inside this leg that gives me the reason to get short let’s just have a look guys all right so i’m going to go down to the four hour chart and i just want to see what i see beautiful now i can see a pattern in this leg that i’m very very interested in and i just want to carry out a fibonacci swing there okay i’m just going to do some fibonacci work i just want to see if things were to go wrong where my plan b is all right okay because we’ve had this decline here okay and we’re now in this correction here i believe that this correction this pattern here is now over or mature enough for me to take a view on it and what i’m now looking on to remember i’m trying to get onto the bigger the bigger m aren’t i’m trying to get on this this next leg down of this m i believe that we are ready to push down because of this pattern here at the end and i’m going to take a punt at this guys because i’ve got everything that i need okay i’ve got everything that i need technically and fundamentally there are some there’s some negativist news at the moment with regards to the aussie dollar i wish i won’t go into but i just want to show you that i’m going to get lo i’m going to get short this trade right here and now because this pattern this little pattern here i believe i know what it’s going to be so what do i want to do where’s my stop going to be well let’s have a look 62 pips at the moment obviously daisy i didn’t want to do that let’s just delete that one remove okay let’s just have a little look at what i want to do what i want to know is if price price comes above this high that i want to be out of this trade let me just get back fibonacci again i’m just gonna take this up a little bit take this take it up to 70 pips that’s it that’s perfect so let me just clean the chart up a bit so what this what i’m saying here now is i’m just i’ve just placed my stop slightly above these wicks here okay if price pushes up above those wicks i don’t want to be in this trade now let’s just get to this side here and let’s pull this right down let’s just then go up the time frame to see where my bottom is this is where i’m going to look but to potentially go long so let’s see what we’re looking at if price i’ve already said so i’m not going to be greedy with it i’m not going all the way to the box so 426 pips guys 70 70 pip risk and a full potential 426 pip gain that’s a 6.4 to 1 risk reward trade if this plays out so what i’m going to do now is i’m going to enter this trade live in front of you so let’s get that let’s get that set up so what do what is it i want to do well i want to i don’t want to set what i do i want to sell the market don’t i want to go short so i want to sell at market how much do i want to risk let’s just put in point seven five percent let’s see what that does to the trade okay let me put in one percent i just want to see what that does okay so i’m going to risk 0.85 percent of my count remember i’m going in at the market so let’s just do that now guys and there you are we’ve triggered short in this trade i just want to see what happens now guys thanks for watching and i’ll update you if anything happens now let’s just before i go just let’s just let’s just set the trade up now where’s my risk where what am i going to do how am i going to manage this well i’m going to get this when i get this line i’m going to pull this line vertically in between my my in between my um my take profit sorry in between my stop loss and my entry there’s the first bar that’s that this that the distance between here and here is represented here so let me just drop in that horizontal line let’s get rid of this and then let’s just bring that vertical line down and let’s pull this down so what i have here at this blue line or turquoise line or whatever you want to call it it’s a two to one risk reward so that is where i’m looking to to um take off 50 of my position should should price get there and nobody knows now whether it’s going to get there what i do know is that i’m in this trade and i’ve got to manage it so i’m just going to place a little alert right there just to remind me when price crosses down i need to be taking off take it off 50 percent okay traders thank you very much for tuning in let’s see what happens you know we’re in we’re in live i’ve showed you in brief why i’m in live in short you know there’s a bigger pattern playing out here isn’t that let me just get back into this remember remember the pattern that i’m trying to play here if i can just auto that the pattern that i’m interested in playing is this pattern here it’s this pattern here guys so i’m looking to i’m hoping for price to push back down so thanks for checking in traders catch you all very very soon speak to you soon good morning traders and welcome back to trader uk it’s currently wednesday the 26th of may 2021 as you can see by the date here and this time is currently 17 minutes past 7 a.m uk time traders welcome back to the channel once again hope you’re having a great trading week just a very short video here just to a little bit of trade management really just to show you what’s necessary when you’ve got a system when you when you live that system and the things that you have to do day in day out so here we are let me just cross jump across into the market here so here we are on the australian dollar new zealand dollar the aussie kiwi and if you remember in my my video at the beginning of this year i said to you that i am bullish um the australian dollar and my current bias or my bias on that pair still remains the same however there is nothing wrong with you taking trades in the opposite direction until price gets to an area where you think you can take that bullish stance which is what i’ve done here so let me go down to the the monthly chart just go down the time frame slowly but surely and let’s get to now to the daily chart all right so what you can see here is this little red arrow denotes where i entered this trade or the bar this bar here is the bar that i entered this trade and i sold this market what has since happened is price has come down touched this this line here which is my my alert to take off fifty percent of the trade now why do i do that why do i take off fifty percent of the trade well i’ve got two i’ve got two positions on here i’ve got it well i’ve got a position on here which i have two targets this is my first target and the the the target two is way way down here so i don’t want to close this trade full out so what i intend to do is take off half of the position here let price hopefully let price then ride down to my second target now in that time what could happen is price could come back on me it could reverse on me and price could actually come back up past my original entry point which is here this is where i originally sold the market now i don’t want that to happen for them for price to then turn around and take me out at this point here take me out of the trade all together and then turn around and go where i where i wanted the market to go to in the first place so the re what i the reason i leave so to counter that what i do is a lot of people will move their their stops to break even at this point i don’t do that i leave my stop in the same position and what that does is it allows price to come back up in this area mess around a little bit and hopefully not take me out and then go in the direction that i want price to go in now don’t get me wrong guys price could come back quite easily and take me out i might pass my stop-loss here all right that being the case i will still be in profit on this trade i will still be up two to one on half of the position so either way i can’t now losing this trade once i once i do this transaction i’m about to do okay right i didn’t want to do that so well i will do it in a moment so what is it i want to do here well