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That real bodies for beginners mean these colored areas here which define the open and the close, not the high and the low. So there are variances. Then you got your banks, your funds and then you got to your professional traders that are scalpers. Bottom line is that the market, as you chart it, is not going to stop to the penny, pip, or tick, in this case, the pip at various highs and lows.
So these highs here are that randomness, that chaos, that noise. When you look at the real body of the Red Candle, for example, there it is. Now look over here, there it is. So this is the proper way to draw it in order to allow for that noise. I like to call it the wick because candles have wicks. So, for example, well actually we got one in there.
Might come in the second bar or so, but there are other types of candlestick patterns, engulfing patterns and things like that. You want to study candlesticks in detail, actually, that would be a great idea. Now, when we break through this resistance level, notice how the candle just flies through it.
We actually closed up. When it comes back to support, the wick goes below and it comes back to support. The wick goes below, but the close is above. Now, when we break down below that resistance or this time, resistance, this turned into support, now when it finally does break through support, what happens? It closes below the support level and closes down there.
The problem is how do we determine when support is going to hold or, whether a support or resistance for that matter, is going to break and the market continues to slice right through. This is one way to do it. Look at your price action bars at those support resistance levels.
This is one example. Please click on the share button below and pay it forward. Please click the thumbs up icon. And leave a comment because that really encourages me to keep creating more free tutorials for you.
I love the interaction and finally have a special offer for my youtube subscribers. I still trade it myself to this day because it has a really high win-loss ratio. You can get it absolutely free by clicking on the image in the top right corner of this video or in the description below the video. Just send me an email at Barry TopDogTrading.
What did you think of this tutorial on Forex Training? Just fill out the yellow form at the top of the sidebar o n the right. Trading Stock Market Cycles Part 1 video: This video and article will give you key insights on timing the market cycles right using various strategies, founded on solid economic fundamentals.
This would elevate your trading performance to new heights. First of all, I found out that there are not many people doing searches for this. And then I thought, no, just the opposite. And this is so important.
Now, that appears in many different ways, but, first of all, again, just to emphasize the importance of this and how absolutely ridiculously critical this is. So think of it this way, a chart has two dimensions. Alright, so think of that. Now, if you are not using some sort of really great timing tool, what are you doing?
Yes, trading is all about establishing probability scenarios that favor us, right? How can you establish a statistical probability scenario? That alone means that you will be a failed trader.
One of my friends who is a floor trader actually was one of my mentors for quite a while in Chicago and he said, Barry, you know what? Of the two, time is actually more important than price and that very few people even use this in their trading in any way, shape or form.
And the uptown cycles, that means timing your entries with the highs and the lows, the swing high swing lows. Just send me an email at barry topdogtrading. Today, what I want to focus on is this one, the seasonal or calendar cycles. The crops grow over the summer and then you reap your harvest in the fall. But that is a cycle, the agricultural cycle. And then another one is the retail sector. There are some businesses, in fact, that make all their money during the holidays in December or they pushed it even into November now to keep extending it.
But the bottom line is these couple of months is the time when some businesses actually make all their profits and others to make the majority of their profits. So people who are watching the retail stocks and sectors, things like that, they are watching this time of year. A third one is travel. So again, timing is very important for that.
So you get the idea and there are many other cycles that are associated with the calendar year. The weather would drop and the oranges would die. And that really had a major dramatic effect on the orange juice commodity market. So prices would go up because why? The price went up. No, because some farmers lost all their crops and made no money. They invested all that money into farming, into the machinery, into raising the crops of whatever it was, wheat, corn.
And now they got nothing back. So they are deeply in debt. I would rather have the guaranteed price.
Now, if you are not using some sort of really great timing tool, what are you doing?
This was Nasdaq futures. Video Technical analysis webinar — A view of the market: