how's it going traders welcome to a forex trade review on the pound yen using confirmation
trading techniques as you can see here i took this one hour zone right here and has been just
a huge up move from here so i'll be walking you guys through the whole top-down analysis
that i applied uh for this trade and i hope it helps if you if you guys have any questions at
all just make sure to leave me a comment down below so let's start with the weekly
chart here the first thing i notice is you know the overall structure of this whole weekly chart
clearly momentum is up yes i agree that with this area right here price was kind of going sideways
but i was more looking at this whole overall picture and i noticed that the weekly trend was up
the next thing i noticed was that the weekly zone was in control price came down to this weekly area
of demand right here and it reacted very nicely off of it so weekly demand was in control that
is the first part of the analysis that's extremely important the weekly uptrend and the weekly demand
being in control and remember you guys can apply this technique using different time frames and if
you don't know what time frames to use make sure you just let me know in the comments down below i
promise i'll get back to every single comment and i'll be more than happy to help you out
the next thing is looking at the daily chart here this this chart is not as significant but
when i entered the trade price was right around here and i noticed that there was profit margin
to this the nearest daily area of supply this zone right here was not supply in my opinion so i had a
clear profit margin to at least this daily area of supply so that's the second important factor
now when you use a weekly zone as your higher time frame the entry is usually the four hour
chart so if you come down to a four hour time frame as you can see here the weekly zone was
somewhere right around here so that is the weekly zone and as you can see price actually broke this
downward trend line we had a very beautiful downward trend line like this and i drew that
downward trend line for the patreon and youtube members and price reacted off of this four hour
zone that i had marked out on my charts right here i did not enter on this four hour zone because i
just didn't catch it in time so what i decided to do since weekly demand was in control and
then this four-hour area of demand was in control i was looking for a one-hour confirmation trade
and i just happened to notice it i it was kind of a perfect timing situation where i hop down
to a one-hour chart right here and as you can see the trade is in this circle right here and
price kind of went sideways on the one hour chart for a bit we broke this area of demand here then
we actually broke the supply that was responsible for breaking this demand and we made a new high
and then when price was up here i i placed an order at this one hour area of demand
simply with a stop loss down below and just so you guys know this one hour zone is a zone that i had
marked out for the patreon and youtube members so if you guys want to get my zones like that
and take these trades along with me as well make sure to check out the links in the description
and sign up for the youtube and patreon membership where you can get all of my zones on a daily basis
and it's only five dollars cap per month so it could definitely help you out with your trading
and make sure to check that out so i noticed this one hour zone place an order simply right
above the zone with my stop loss rate below and price reacted very nicely off of it there
was some draw down but eventually price started to move up and so essentially i took the trade
and my exit strategy was to take off certain percentages of the trade as i went along so the
first thing i did was i took profit right before this daily supply not all my profit i'm actually
still in this trade so i took a quarter off right about here right before this daily supply just in
case you know price ended up turning around off of that daily supply i decided to take a quarter off
of my trade and actually i ended up taking another quarter off rate as we broke this supply so that
locked in another certain risk reward that i was looking for so i took second profit here and the
the rest i think i took an extra quarter off i'm not 100 sure exactly where i did i had a
busy week so i was doing all this on my phone so i think i took an extra profit off right
here and now i'm holding the rest of it so i'm holding another 25 of the position and what i
plan on doing here is since i've made so much money and i've essentially locked in three and
a half percent right now it's completely locked in and the 25 percent remaining in my position
is actually at break even here i'm letting this ride as much as possible and the reason i am is
because if you come to a weekly chart clearly the overall momentum is up and like i discussed at the
start of the video um the the weekly is kind of going sideways right now through this whole thing
but i have the suspicion that we'll actually be breaking through this range and obviously i'm
kind of just guessing that's going to happen but it's an educated guess where i'm looking at the
overall structure and it's very very bullish so that's why i plan on holding on the rest so right
now my stop is at break even and what i plan on doing is waiting for this daily zone to be formed
as you guys can see right here we have some basing structure on the daily chart where we have that 50
candle basing structure and what i'm waiting for is for another uh green candle like this where and
it will close so maybe around tuesday will have a new demand zone formed and if that does happen
like this then i'll draw out that demand zone for the youtube and patreon members and of course
for myself so if that ends up happening what i'll do is i'll then bump up my my remaining
position stop loss from here up to here which will lock in probably another one percent or
something like that i'm not 100 sure on the math but that's where my stop loss will go and i will
let this thing ride out as long as possible if you come to a monthly chart we are actually sitting
in i know this chart looks kind of messy but we are sitting in this monthly area of supply so it's
kind of a risky trade but overall i liked it but i have suspicion that this monthly supply will break
so luckily i the trade went in my favor for now and i'm just holding the rest of my position
but i have a good feeling that this supply will actually be broken why because it's
been tested once twice three times now so i do think that it's going to go higher
and where i will start to tighten up my stop loss a lot is when we come up to this monthly supply
zone so there's still a lot of profit margin in my opinion yes i could be in this trade for another
month but you know it's not a big deal i've locked in you know three and a half percent something
like that so i'm i'm okay with trying to hold to about 170 if that happens obviously you know
it might not happen but that's fine if it doesn't then my stop-loss like i said it'll be below this
daily area of demand if that ends up happening and i'll just let the rest ride so that's how i
might that's how i am managing my position and so that pretty much sums it up i don't want to drag
this on too long like i said if you guys want my zones and everything check out the links in
description patreon youtube membership all that good stuff and make sure you guys leave a like
would really appreciate it if you guys found this video helpful and more importantly if you
have any questions at all regarding anything to do with this like i said any time frame questions
managing position questions anything at all please just write in the comments down below i'll be more
than happy to get back to you guys and i hope you guys have a great trading week take care