I hope you had the chance to watch the yesterday’s video. If not, please make sure to watch it because there are so many tips in each video that you can use to analyze all markets at anytime. Our videos are not limited to the same day that we analyze the markets. They cover so many important tips that can be used forever.
Please watch the last night’s video HERE. Please kindly like the video, and also subscribe to our YouTube channel. We share our analysis for free. You can support us by liking and sharing our videos, because it helps more YouTube users to watch them. We love to see that more people watch our videos. Thank you 🙂
Here are the topics that our today’s video covers:
1. Tile Up the Charts and Save Profiles on MT4
Click Here to watch the video of this part of my last night’s market analysis video that starts from 01:24.
Today the tip of the day for MT4 is about profile. When you open several charts on your platform, you need to tide them up. I see that on some traders computers that charts have not been tiled up properly and it is a big mess. When you open several charts, you can easily click on the “arrange windows as non overlapping tiles” icon. When you click on it, the chart tables will be tiled up.
The other thing is that if you are following more than one trading system and each of them need to be followed separately, then you can save them in different profiles, if you refer to file, and then click on profiles. You will see that in addition to the current profile, there are some other profiles by default (for example British pound). When you save your different system in different profiles, you can switch between them on your trading platform. This is a big help for those who follow several different systems.
It prevents you from getting confused, when you tile up the chart tables, and also when you save your different trading system in different profiles.
I have explained this in the last night’s video in detail. Please watch it carefully and apply the changes on your MT4 platform.
Click Here to watch the video of this analysis that starts from 03:19 in my last night’s market analysis video.
EUR/USD is currently testing some resistance lines on the monthly chart. In my last night’s video, I have explained what we have to wait for.
This market was bullish according to what we expected (I have explained in my Saturday’s video here. Now the forming monthly candlestick has reached the resistance lines that I plotted
yesterday. We will have to wait and see how this market will react to these resistances. We still have to wait because the current monthly candlestick still has few days to get matured and closed. So, we have to wait and see how this candlestick will react to the resistance line. If it goes down and closes below this resistance line and forms an upper shadow, then we can say that the resistance line is a valid resistance line. But if it doesn’t care about this line, it means maybe this line is invalid, or the market has been strongly bullish and the resistance line is now broken.
Whatever the result is it makes a big difference. We have to wait for the result because anything that happens on this chart will show the direction of the market for the next several weeks, months or even years on the monthly time frame:
The newly opened weekly candlestick formed a strong bullish body. It still has six days to mature, so it seems this market is strongly bullish. But it can form a strong sell signal, if this market reacts to this resistance line on the monthly chart. Now it is not the time to do anything those who have already bought and are in profit, they can hold their positions and manage their stop loss orders, but those who haven’t entered this market, they better to wait for a new signal. It is not the time to buy or sell:
On the daily chart, it is also strongly bullish. I don’t see anything new on the daily chart but just a strong bullish candlestick formed today. The US dollar value is going down, because of the recent changes and because of the Coronavirus pandemic and so many other factors. That’s why these markers are going up. So nothing is special on EUR/USD.
It Is All About Discipline
We check the markets every day to find the signal. When there is no signal, we check another market. When there is no signal on all the markets that we are following, then we go and come back the next day. We don’t have to take a position every day. We enter the markets only when a signal is formed. We need a fresh and strong signal formed on the charts to enter the markets. We don’t have to take a position every day. Some traders are obsessive to take a position wherever they sit at the computer. They want to get in the market at any price and at whatever it costs because they think that if they sit at the computer and analyze the markets but they don’t enter the market, they are not doing anything or they are not working.
But this is trading. It is not working. It is not a business. It is an investment. You have to get in the market only when there is a trade setup or signal. Even if you can’t find a signal for a couple of
months, then it is okay. You can still wait.
Professional traders are out of the markets 99% of the time. They get in the market, when they find the signal that is 100% strong from their point of view and by the system they use.
This is called discipline.
Click Here to watch the video of this analysis that starts from 07:00 in my last night’s market analysis video.
A too strong Bullish Engulfing Pattern is formed on GBP/USD weekly time-frame. This market may go up for the next several weeks, months and even years because of this strong long trade setup. Please watch my last night’s video for the detailed analysis and explanations.
Like EUR/USD, this market was also bullish today. It is now close to this line on the daily chart. I showed you a two strong bullish engulfing pattern that has formed several weeks ago. It is almost related to the beginning of the Corona pandemic. Now the market is following this strong signal, according to what you can see on the above chart. As this signal is so strong, I expect GBP/USD to break above this resistance line, however you can see that an inverted head and shoulders is forming as well. The first shoulder is formed, and it is possible that it forms the second shoulder. Please watch the video here to see what I mean.
The second shoulder can be much smaller than the first shoulder, so it is possible that when it reaches this resistance line, it forms the second shoulder, and then it breaks above it and goes up. There is no fresh signal here on GBP/USD as well.
Below is the monthly. We also have a different resistance line on the monthly chart. It is much bigger than the weekly chart resistance line. Its beginning goes back to 2007. If this market breaks above this resistance line on the monthly chart, then this market is gonna be bullish for the next several years like when it was bearish for the past several years an since 2007. If it breaks above the resistance line, it will go up for the next several years. This is a great opportunity for swing traders:
Click Here to watch the video of this analysis that starts from 08:39 in my last night’s market analysis video.
It seems a long trade setup is forming on the daily and weekly time-frame, above 0.918013 support level. In my last night’s video, I have explained why this long trade setup is forming and what we should wait for:
We expected USD/CHF to go down and test the support level you can see on the above chart. I plotted the support level yesterday you can see it on my Saturday’s video. Please watch the video to the end because it’s an important video. It is the first video of this series of our market analysis program, and I have almost talked about the system that we use.
As you can see on USD/CHF weekly time-frame, this market is reacting to the resistance level that I plotted at 0.918013 because, today, July 27th candlestick daily candlestick went all the way down, tested the support level, went up, and closed above it. It seems this support level is valid, otherwise this market wouldn’t react to it. You can see it on the weekly chart as well.
The last closed weekly candlestick is huge, and it is a strongly bearish candlestick, but now it seems that the support level is strong and has stopped the price from going down. This is where we can wait for a strong long trade setup, if it forms above the support level. If not, and if it breaks below this support level, then it can go much much lower than this. Now the market is where it can form
some signals for us. If it forms a buy signal above the support line, we are going to have a strong buy signal most probably. If not, and it breaks below this support level, then we are going to have a short trade setup based on the support and resistance levels breakout.
Click Here to watch the video of this analysis that starts from 10:23 in my last night’s market analysis video.
USD/CAD has almost the same situation. It is going down, but it is also so close to a support level. At the same time, we have a support level on the daily chart. I don’t know if it is valid support level or not, but it seems that this market is going to go down for more than 100 to 150 pips to test this support level. It is also possible that it forms a long trade setup above this support level on the daily chart:
Click Here to watch the video of this analysis that starts from 10:58 in my last night’s market analysis video.
There is a too strong support level on the monthly chart. This market has already reacted to this support level very strongly. What you see below is a great example of the market reaction to the support levels and forming a strong candlestick signal above it. As you can see below, the March monthly candlestick on AUD/USD monthly price chart went all the way down to break below this support level, but it couldn’t break below it. It went up and closed above, while it has formed a strong lower shadow. Then the next candlestick formed a strong bullish engulfing pattern, and now the market is going up:
This is how we have to trade. I showed you on the other charts that you already saw in my last night’s video that some of the markets are so close to some support levels. We have to wait for a signal like what you see on AUD/USD monthly chart on those markets as well. Then we can take a long position, if such a trade setup forms. If not, we have to wait.
A too strong long trade setup formed by March and April 2020 monthly candlesticks on AUD/USD monthly time-frame. They have formed a strong Bullish Engulfing Pattern, plus a too strong Bollinger Lower Band Breakout. Please watch my last night’s video for the detailed explanation about AUD/USD and the too strong long trade setup it has formed.
Click Here to watch the video of this analysis that starts from 12:10 in my last night’s market analysis video.
Gold is trying to break above the highest high it has ever made. Please watch my last two videos (here and here) to learn about the way that I have analyzed the gold market, and the way that I have used Butterfly Harmonic Pattern and also Fibonacci Levels to analyze the gold market to come to this conclusion a few years ago that Gold would go up, and it really did.
Today, gold went all the way up and is now above the highest high it has ever made. If you watch my Saturday’s video you will see that when I was recording the video on Saturday this weekend, the market was below the resistance level, but just today, it market went all the way up and is now above the resistance level. Whether it will stay above the resistance level or not is the matter of time. We have to wait for the monthly candlestick to close that will happen during the next few days, and so we will see that whether we are going to have a sell signal formed below this level or we are going to have a buy signal above the level. Something that happened today was an amazing movement. It is related to some political events like the problem of the United States and China, and the oil price that went down today, and so the gold price went up. There is nothing new on the daily and weekly charts yet.
Click Here to watch the video of this analysis that starts from 13:10 in my last night’s market analysis video.
I explained more about the Amazon’s market exhaustion in my last night video (here), while I had analyzed it in detail in my Saturday’s video here as well. It seems it is forming a short trade setup or sell signal. Please watch those two videos to learn why I am saying this, and what this means to Amazon’s share holders.
On the monthly chart, the forming monthly candlestick has already formed a long upper shadow. We have to wait for this monthly candlestick to close and see how it will be closed. If it closes with such a long upper shadow, then most probably we are going to have a sell signal formed on amazon.
Yesterday, the market was an indecision situation as you can see below, it opened with a gap up above Bollinger Middle Band and it is closed as a Doji above Bollinger middle band, and so it is
reflecting the indecision, just because this market is extremely overbought:
Click Here to watch the video of this analysis that starts from 14:00 in my last night’s market analysis video.
Below is google’s monthly time frame. We have a resistance level formed on this time frame at $1920 and the current monthly candlestick has already reacted to this resistance level because it has tested the resistance level, but it went down and it is closing below. So, it seems this resistance level is valid, although the market is a strongly bullish market, but just because of this resistance level, it is possible that it moves sideways for a while then it decides whether it wants to go down, so that it will form a strong sell signal below or around this resistance level, or it will go up:
Some traders consider the above resistance level as a broken resistance level, even when only the upper shadow of the candlestick is above it, and the candlestick is closed below. So, even if the price goes up and then it goes all the way down and the candlestick closes below the resistance level, still they consider the resistance level as a broken level, and so they say this market is gonna go up.
That’s also true and it is possible that this market goes above this level in future. But if it forms a sell signal below this levels, it means it’s gonna form a bearish market for a while. Maybe in future it will try to go up to break above this resistance level and goes above it. If this candlestick closes the way it currently is (with a long upper shadow above the resistance level), then I expect the next candlestick to be bearish. So it is possible that we see a bearish market for the next couple of months or even few months. Everything depends on the current monthly candlestick that will be closed after a few days.
Click Here to watch the video of this analysis that starts from 15:53 in my last night’s market analysis video.
I already had an analysis similar to gold where I’ve expected that this market will also go up and reach the resistance level you see in the weekly chart (below). Now this market is almost where
the gold market was several months ago and as you can see it is going up to reach the resistance level as well. I have already plotted the Butterfly pattern, maybe over a year ago. I did it when this
market was below the red resistance line that you can see on the below chart.
Bitcoin broke above the resistance line and started going up strongly. If you switch to the line chart, you can see that it broke above it went down and retested the resistance line, but it closed above it. So the resistance line worked as a strong support after it was broken and now Bitcoin is going up while it has also reacted to 61.80 Fibonacci level.
Resistance on BTC/USD Weekly Chart:
Fibonacci levels and the way that I use them and also the harmonic patterns like Butterfly or Bat Pattern are the topics that I am going to talk about them a lot in my next videos. So, make sure not to miss my videos because I am going to explain about these strong and important trading tools in my videos a lot.
Many of my friends have been waiting for me to tell them when it was the time to buy bitcoin and when I saw that the broken resistance line was working as a strong support, I told them that was the time to get in and buy some bitcoin. The price was almost at $9500 and now it is $11,150. Just imagine if you had bought 100 Bitcoins, when the price was almost at $9500, so you would have to pay nine hundred fifty thousand dollars, and if you would get out of this market now that the price is about $11000, you would make $150,000 of profit. Now this market is going to reach the resistance level (see the above charts) as well like what you saw on gold monthly time frame, but I don’t know when it happens. It can happen within a few next candlesticks, or it can happen during the next few years. Maybe it will reach the resistance level soon. According to what we are currently seeing on the markets and because of the most recent events and problems that we have been faced during the past several months it is possible that this market goes up and reaches this resistance level very soon because these markets are among the markets that have been attracting a lot of money during the past several months.
Click Here to watch the video of this analysis that starts from 18:47 in my last night’s market analysis video.
Below is IBM’s monthly time frame. I think in one of my other articles or videos in the members area somewhere, I have explained about this strong Piercing Line Candlestick Pattern formed on IBM monthly time frame. This is the typical form of piercing line that you can hardly see on the currency market, but on the stock market you can see these kinds of patterns a lot. Piercing line is a kind of Bullish Engulfing Pattern. It is such a strong reversal pattern that forms at the end of a bear market like this one. It forms with two candlesticks. The first candlestick has to be a bearish candlestick. The second candlestick has to be a Bullish candlestick. The second candlestick has to open below the close price of the first candlestick which is what you can see on IBM’s monthly chart. The second candlestick has opened several pips below the close price of the first candlestick, and it must go all the way up. But it closes before it reaches the open price of the first candlestick. When the second candlestick closes like this, it is called Piercing Line Candlestick Pattern. This pattern is a two strong reversal candlestick pattern when it forms by two strong and long candlesticks, while they have also broken out of Bollinger Lower Band very strongly. That is why I use Bollinger bands on my charts. We need a strong Bollinger Lower Band Breakout as well to take this candlestick pattern as a strong reversal trade setup.
Therefore according to what you see on the below chart, this signal has everything that we need to take a long position it is formed by two strong candlesticks that have broken below Bollinger lower band very strongly. If we zoom out, we can see the downtrend, and we can plot the downtrend trend-line. Therefore, according to the strong buy signal that we have here, I expect this market to go up and test the resistance line during the next several months. If it breaks above the resistance line, then we are going to have a bullish market.
Some traders are used to take a long position and they get in when they see such a strong buy signal formed by the candlesticks. But some other traders who are more conservative, they wait for another signal to complete this signal, for example another line breakout or trade setup like a resistance breakout is what they need to go long when they see such a signal.
This was our last night and yesterday’s market analysis report. We will release the today’s market analysis this afternoon after the daily candlestick close and based on the EST time.
We will release our market analysis videos and articles a little sooner so that you will have time to watch them and then you follow the analysis that we show you in case you want to take some positions.
Our Daily Candlestick Day Trading System
We used to follow another system on this site. It was based on the daily candlestick trading. We used to check the daily candlestick and take a position that could last only for the next 24 hours. We may start that system again too. But, first we want to make sure that we have explained enough about our trading system and the candlestick patterns that we follow, and then we will also talk about that daily system and will tell you about that kind of day trading using the daily candlestick.
So please make sure not to miss my next videos. Please subscribe to our YouTube channel and also subscribe to our newsletter here on our website, so that you won’t miss any of our videos and market analysis articles. Please also like this video if you think you have learned something from it. You clicks on the like button helps other traders to see this video as well because when you like the video, YouTube recommend it to other people when they refer to YouTube.
Thank you for your support 🙂