How to use Manual Analysis in combination with trading software for entries - sRs PRO - March 8 2021

Hello everyone, this is Jordan, and as you know, on Mondays, guys, we're doing these reviews showing pretty much what happened during the previous week using the strategies, giving you a few trade examples, an explanation next to those examples. On what we're looking for and basically the process of thinking when we're analyzing the markets using some of the softwares that we have built and that we're using on pretty much daily basis. So in this video, we're going to be talking about SRS Pro and SRS Trend Rider 2. You can find this table with the images and all the relevant data In srs-trendrader.com, okay, and then go under performance and you will see this table here. So previous week we have 1st till the 5th, which leaves us 3 trades here. For SRS Pro, this is all winning, all winning trades, right? 2 trades on gold, 1 on pound CAD. Now gold, I definitely agree. Pound CAD was not really on my list, but I'm still going to cover this one as we only have 3, so we can allow it in terms of time. In terms of gold, we were looking for sells and we continue looking for sells actually if you have any type of exposure on this one. And for me personally, it's kind of simple because this is where we have the point of multiple levels coming together. Actually, we need to draw here one more, one more line. Sorry. First of all, this box right here, this is the zone, right? Without, um, the extreme points, we can also mark them like this, or we can mark it as that, right? But we have this zone here, a very strong consolidation, and this is where we have a lot of volume. on the previous move. Okay, so we should be paying attention to this level and keep it on our list, right? The top of the zone, the bottom of the zone, and basically the entire thing. As we can see, we're more or less coming closer to the bottom of this level, and those are the lines here. I don't like putting too many drawings on the chart. I like to keep it simple, so let's remove them for now. Then we have the 100% Fibonacci expansion, which is this one right here from the bigger wave that was first created starting somewhere around— was it August 2020? And then we have this alternative trend line coming from these lows, right? So pretty much we're kind of creating here a zone Where all these things fit together, and this zone is right here. So we said that once that low was broken, 61.8, and this divergence was broken, we're looking for potential sell opportunities versus this level at least. Now whether the price is going to stop and bounce or is going to continue lower, we don't know. What we do know is that we're likely going to see some kind of reaction from these levels, and this is why in the shorter term it's better to go and trade up until this point, then let it decide what's going to do next, and then try to catch the next possible move, whether this is going to be a sell or a buy. And that being said, this is the reason why we're overall looking for this bullish— sorry, not bullish, bearish scenarios in gold on the lower time frames. Going to the first example, as we can see, this is the 15-minute chart in gold. We have the predominant color here is red, right? Without ever looking at anything else, we can see that we're looking at bearish moves. Sentiment 3 out of 3 bearish, momentum 2 out of 3 bearish, 4-hour chart, 1-hour chart, everything is showing extremely bearish trends. So once this pullback was finished, which by the way was a tricky one, and this is a different conversation, but this kind of structure should be, um, something for you to pay attention to in case you understand cycles, waves, and all these things. You should be paying very close attention to that. Regardless, let's go back to the subject of SRS. Um, after this move, we got the next push to the downside, right, going almost closer and breaking below this previous low. The pullback, and this is where the attack starts. Why I would personally not take this trade— I didn't take this one, and why wouldn't I take it? Because you have a pretty decent swing low right below that. So if this is— sorry, let's use an actual line— if this is the place where you're going to be attacking, first of all, I would be waiting for pullbacks, okay, in order to make that distance as closer as possible to this distance. The risk-reward ratio, right? The second thing is, once this candle closed right here, uh, we saw this spike, and this spike is coming from the previous low. I'm not saying it's not going to go lower. I'm just saying you're now reaching a previous swing low. So having this spike right here means there is a very, very good chance of at least a pullback happening. Okay, there is a trend line from the top. Well, inner top, right? This is intraday chart, but this trend line is being respected right here. We try to, to false break it and so on. And you have another trend line which is broken right here, the uptrend line. So why not try to, um, get this pullback up to the zone, this level And then try the attacks. I think, well, of course you might be missing in this case, right? And the price might be continuing without you, but I would be treating it a bit more conservatively. And as we can see in this situation, the price continued lower. So for me, that would be a miss. It will simply not trigger me, right? But that would be my process of thinking when it comes to this sell opportunity per se. Next we have again gold, and this time we're looking approximately one day after it on March 3rd. We're looking at aggressive sell, and this sell is actually a step trading, right, where we have the price going for pullback here, then we start developing The structure to the downside, and after this sharp move up, testing here this one, probably even this one. Trend line kind of far away, but still in zone, right? These levels are too far away, so no need to be paying attention to them. But we can see where the price stopped on the previous moves up. So push. Down, then we got the breakout. Then this is the place where the price is coming, testing, playing around, and then continuation. So this entire level— let me actually use the rectangle— this entire level here, and if we extend it, we'll see where it takes us, is pretty much where the price came, right? Uh, that's about the previous candles and what happened in the past. This is where the price broke And we never got a retest of that zone. So now coming in testing this level means a lot, and we're actually holding below it, right? Of course, we're checking the sentiment and the rest of the stuff that we already mentioned before. Momentum, however, pay close attention to this one, is 2 out of the 3 bullish. Okay, that could be of course just a lagging indication because we're checking higher time frames, etc., things tend to happen a bit slower. Most, well, not most of the indicators, the indicators that are taking data and pushing this data and the numbers, crunching the numbers, like you have multiple periods, let's say moving average, right, you gotta get 14 bars in order to to see the result, or you gotta get 200 bars in order to get the result if you're using MA200 or SMA200 or moving average 20 or so. This kind of indicators, they're called lagging indicators because they need to read the past data in order to give you an output at the current time. Okay, but this is why usually these indicators are lagging. So that could be a cause of that. And this is why I wanted to share, um, before we started with this video, I wanted to share my analysis and understanding on gold on live chart and where the price action is sitting at the moment and what are the expectations. Because whatever you do, price action should be coming first in your analysis, okay? Then you can use any indicator, you can use anything else, but price action is not lagging. Actually, everything that is coming in terms of indicators like MACD, RSI, all these technical indicators, they are using the price action, right? The pure raw information, the high, the open, the close, etc., etc. So PA can actually give you whatever you need, right, without lagging the information and giving it to you live. So that's basically the idea. We're testing here, rejecting, keeping the levels. We are in a downtrend. We're expecting the price to continue lower. This is where the price starts pushing for the first time after this retest consolidation, which I definitely love. And after the consolidation, we're breaking the low, and this is also the time when we got the sell signal. So attack here on the sells, and we got the 2 targets. Then we have pound CAD, which was also something that Vlad was looking for in terms of sells, right? The direction here was bearish in order to complete the waves to the downside. And we can clearly see that the price was moving inside a consolidation here. Then we got a breakout below these levels right here. Okay, breakout below. And this is the time to understand and for the market to decide— actually not to understand, but for the market to decide whether we're going down or we're going up. So what we see here is definitely, uh, the price testing this breakout zone first time. We're trying to push and gain the momentum above, but we never managed to go ahead and cross even this inner high because this is how the market structure developed, right? This is the high, not this one. This is a high coming from actually starting the pullback here, right? It's forming now at the moment. It's not a past high to work with. So what we do have here is the price breaking below the trend line. We're actually getting a red candle. Sentiment is agreeing, momentum is agreeing, monitors are agreeing. And we have a very classical ABC pattern. So the idea here is to look basically for the sells with very tight protection, because let's admit it, guys, if this zone is not going to be holding, right, and the attempt here is going to fail, you want to cut, right? Regardless of what you're going to decide next, are you going to take another shot at it? Are you going to wait for some other level to be reached? Cut it. Once you cut it, you can think in peace, because if you don't cut it, you're in big trouble changing the stops and all that. No need. All right, so this is about SRS Pro. Let's move on to SRS 2, which is the previous version. And for SRS 2, we only have one trade here. This is the pound CAD, which unfortunately provided a loss here. And the sells in this case are coming from this situation, right? I honestly don't know if that was traded as it is, but let's try to go ahead and understand what's happening. So the price started pushing lower somewhere around this point here, right? And we started gaining the momentum from this moment on. The price started pushing in something which might be treated as sideways move. I would personally treat it as some kind of, uh, ABC structure, overall bigger ABC structure, right? And If this is my push down, this is the most recent high, which makes sense to be broken if we're going to be giving a pullback. But that level right here, that zone, which is the first zone of resistance, managed to hold the price. Next zone of resistance is somewhere around here. My assumption would be that if we go ahead and break this level up, we're probably going to this next zone right here. So that holding means we're probably, and most likely indeed, in a very good bearish situation, and we might be taking advantage of that, right? Um, now again, the thing that I don't like in this case is the actual trendline breakout, because what's happening here is either we have This with a double top, and here the 2 waves are not symmetrical, not even 61.8. Okay, I'm looking for symmetry here, or at least 61.8, the second leg, right? In this case, none of that is happening, and even if we consider it as some sort of double top, we don't have a real breakout below. And this one is not a trend line. So this entry setup, in terms of the actual entry setup, I would be skipping it definitely. And as I said in the beginning, pound CAD was not really on my list, so probably I'm not completely objective here, but it is what it is. I mean, this is why we have a market, right? If all of us were thinking and seeing the market exactly the same way, there will be no buyers and sellers. So that's pretty much the situation about SRS True— sorry, SRS Pro as well. And that will be the entire video for this week, guys. If you have any questions, make sure to leave us a comment below. Also make sure to check out our free Telegram channel There is a lot of educational material there, plenty of trading setups are also shared there, so I'm pretty sure you're going to benefit from it. Thank you all and I'll see you next week. Bye for now.