Forex Triple B Pro - Weekly Summary - July 26th 2021

Hello everyone and welcome to another Forex BBB weekly summary. Today we're going to talk about trade examples for the week of 19th, July 19th up until the 23rd. So So as you can see, that gives us approximately 9 examples here. Let's start from the very top and see what do we have. Now, how does the strategy work in general? What you're going to get if you buy the software, you can pretty much do that, I guess, on your own besides this stuff, right? But once the software confirms whatever is going to confirm in terms of filters and all this extra stuff that you get here, right? This is all explained in the manual, etc. But what else are we looking for when it comes to the entries? Well, we're looking for price action structures and we're looking for levels. Now for the price action structures, this, uh, I guess it requires a bit of practice. We don't have an indicator for that. However, for the levels, we already have Pretty decent indicator which is showing you the weekly pivots, supports, resistance, pretty much important critical levels on the chart, right? So once you combine this plus that plus this, well, it equals to pretty decent results. Let's put it this way. So in the idea of oil, what we have here is the double wave, and then we're expecting this thing to come Continue lower. Of course, we have the weekly zone, right? And then we have the daily, and then we have weekly from previous week. So that's clearly a level for some reason, and the price is respecting it. This is why, in my opinion, that, uh, given setup makes a lot of sense. CAD/JPY is another such example. Again, we're looking at bearish trend here. The filters, the clouds, it's all suggesting bearish continuation, and the price action is pretty loud here in terms of the direction. Again, when we're looking at the levels, that would be the zone I will personally focus on. Um, we can also see that there is no divergence on the MAs. That means pullback should be suggesting a continuation lower. Now the question is, are we going to stop here or are we going to create another wave and then push lower? And this is why, uh, we, we face this problem many times, especially when it comes to trading the pullback in ABC wave. Is that the end of the wave, which is the micro wave inside of it, or this is still the first wave, which is formed by 2 waves, then pullback, and then we have another to create the bigger, larger wave, right? So something like this. Um, the way to overcome this issue, at least the way I learned to overcome this issue, is very simple: by relying on the levels. Which basically means if this is a double wave, which is just the first wave of something larger, you expect anyways to get a pullback before the next push-up, right? So if you pick the correct level Basically, if you manage to call the top and identify the top in a decent way, you can still get at least 1:1, which is for some people breakeven, for some people target 1, but at least you will have the chance to do some sort of management when this happens, right? That's basically the idea. And this is why it's really, really recommended to work with levels and strong levels. So yeah, that's overall what I wanted to say here. You can also build some kind of structures, but it doesn't matter how we wrap it, it is a pullback, it is a correction, right? So that's why, uh, in my opinion, this thing makes sense. Aussie Kiwi. Now for Aussie Kiwi, the count would be slightly, uh, more complex here if you're not familiar with cycles or waves. But anything besides the, the wave count here is extremely simple. Level, level from previous week. Look what is happening with the price action. Down, consolidation. Breakout, pullback after this pullback, of course. But this is the entire wave, right? So after this move finished, we go back and we go ahead and test this zone again. So is there any better place to sell in this situation? I don't think so. Okay, multiple weekly levels fit together. The price action is Clearly telling us that this zone for some reason makes a lot of sense. I think it's worth it. So that's about this one. Let's see something more tricky. Maybe this is pretty much the same as the previous one we saw. This is same or almost the same. Now we have crypto, but Maybe it's not that different after all, because again, you can see— I mean, when it's clear, it's clear. And this is why it's important to have a lot of patience when it comes to the setups. Okay, now for example, if you get a signal on this part, what do you see? You see the red cloud, which means higher time frames are lower, but the price is currently moving up, right? And it's moving up in a very, very strong way. And then you see push down, and that— you see the difference? While here you have the price already reversed, started pushing lower, and after this magnificent wave down, you see this consolidation pattern, right? Now compare it to this consolidation pattern and what happened beforehand. Compare it to this zone— completely different, right? So this is, uh, pretty much the idea. Then we have— this is the zone we just spoke about, right? Right here. Now you have already 2 waves down. Now you start to look at lower lows. This is what I meant before, as here you have higher highs. You see the price is still in a pullback. So I'm not saying this is not a good idea to be traded. Well, actually I do say that because it's much more conservative, at least the way I see it. Yes, it would work, right? So if someone traded, well done. But in general, um, I see it as much more aggressive attempt here. Now look what happens. The price broke, it started creating the lower lows again. We know the higher time frame is in agreement for the sales. And then you have this level, price action level. We have daily pivot and nothing else. So in terms of, um, the indicator, the optimal zone is here. Okay, this is a simple price action level, and look how well the price is dealing around it. It tries to go above it Spike. Okay, the bulls are being rejected and then they push the price almost immediately to the downside. You see this move down? Boom. So yeah, definitely. I mean, these things are super simple, but if you learn how to recognize them, they will give you a lot of information when it comes to, uh, trading the chart. Now, dollar yen, this is also kind of interesting example because it's not in a massive move down. Somewhere around here we got the breakout, and then the price tried to go ahead and retest that zone, but it reached the weekly— actually, we have weekly and daily, and this is where it stopped, which was pretty close to that zone, right? Uh, from that moment on, we started creating lower lows by breaking these previous micro swings, right? Those are not real swings, but for the 15-minute chart they are. So this is where we start pushing lower, breaking these zones, breaking another level. So this one, the rejection, break, continuation, and so on and so forth. And in fact, the price was so fast that we never touched the, the upper bands. You see that? So this is where we see the double wave, uh, and from that moment on, we can be looking for the continuation down. Now the problem here would be that we're already reaching the swing low, okay? Uh, we already said that the momentum is extremely fast, extremely strong. In this case, so you can expect for the price to continue lower. Okay, we're holding the zone, that's kind of obvious as well. But in, in general, usually what I try to do is whatever after this pullback is and the entry, wherever the entry is, I want to have at least 1:1 versus the swing low, because usually what happens around these swings is the price is giving you a pullback. It might be continuing. I'm not saying it's not going to continue, but it's much better if you're able and the risk-reward allows you to manage the position around this zone. Much better, right? Because then you, you kind of put yourself, uh, in a situation where you're more or less win-win, right? Break even with target 1, or just break even. It doesn't matter what happens, you do not lose money. And not losing money is always the first step before you actually start making money, because you might be making millions. I mean, it's simple, uh, debit and credit, right? If you earn $100 a month or a week or an hour and you spend $150 an hour, a week, or a month, it doesn't work, right? So you gotta learn how to control the expenses, and the expenses in our business are the losses. So that's pretty much the idea. And by the way, you can see what happens once we go below. You see this reaction? This is exactly what I'm referring to— natural supports and resistances. So it's always a good idea to be able to manage, um, the position around those levels. This one again extremely simple. I mean, look at it: level, level, zone, double wave, and then you start looking for breakout situations. That was the touch point, no breakout, consolidation, touch point, and then we're breaking the most recent fractal which is around here, trying to Catch the cells if those are going to be the cells. What's the problem in this case? The problem is that we have weekly pivot right below, right? And the risk to reward ratio doesn't allow us to go ahead and manage the position before this level is reached. In terms of price action, it's good because look, this is the absolute bottom. We have price action level and then we have the indicators. Saying that this is the absolute bottom, right? But even this micro level, which is below this zone, right? Uh, sorry, above. Yeah, below this zone, above this zone. I got confused now, but it makes sense. Only this one is on the way. So in my opinion, definitely worth the risk here. All right, uh, I think I'm gonna stop right here. If you have any specific questions, you know where to find us. Have a lovely week, and I'll see you in the next video. Bye for now.