Daily Trades ​System Methods
Module 5

​In this module we're going to uncover some more technical analysis, but this time we're not going to use Candle patterns to get market sentiment, and we're not going to use any indicators, per say.

Instead we're going to be using line tools.

We start off with the basics, then we start to step it up with the different line tools that some traders tend to not to use.

Personally speaking, I can forget to use these all the time, the most often used line tool used is the Fibonacci Retracement tool.

But I'm guilty for not using all of them when I know I should. So try to use them often in your studies, they will help you paint that picture brighter.

​When you see these appear, try and be on the 4-hour time frame or the daily time frame. The higher the time frame you see these on, the more reliable they become.

These type of setups are huge pay-days!

​When you draw these in correctly, you should almost always act off of these when they are fully formed and take the breakout.

If you're feeling a little edgy, it's because there are some more finer points that you need to know, so try and discover and solve those before making a trade.

Don't get nervous, reduce your lot size to the minimum allowed, the one I use can let you trade as little as 10 cents per pip.

​These are little gems when found, very strong formations!                                                                                                     

​A pretty neat strategy.

You know by now that you shouldn't really chase after the trend and just let it come to you.

Well, here's one that pulls away from you fast then gives you the option to take its retrace!

​How often have you got in a trade, all went well, you scoop up about 80-100 pips, then you decide to close the trade off and the market continued to go in its direction you were in?

Annoying right?

Incorporate this into your trading and you'll discover some continuation formations.

If you are ever at the beginning of one, consider moving stop loss higher to book in profits and close off a half of a lot as well, and ride it all the way to the top, these usually come in formations of 3.

​These are typically used for breakout entry points.

​​The Slope of the triangle is generally the area that it will break out from.

​​Usually after a bottom or a top has been formed, you'll see three of these before the market retraces.

​Sometimes used as areas to pin-point a reversal.

​Comes in extremely handy to work out next areas of price projection.

​​It's not really needed if you have the Fibo Retracement tool configured with the correct settings.

In any case, I had some fun with this tool, used it in a different way to produce some interesting results.

​It gets a little quirky at times, but generally can give you a good idea of a retracement level.

​Not a widely used tool, but it has its moments.

​Another one of those tools not used a lot. Not a very reliable tool to use.

​Here are some other tools that can be used.

​Another way to understand market sentiment.

​Add this to your studies and you'll hit that home run.

The highs and lows.​

​Locating reversal points.                                                    

​OK, get your notebooks out, you'll need to go through this video a couple of times at least.

​A neat strategy to find breakout points that are reliable.

​Warning lines can act as a temporary point of reversal, or used as a breakout.

​​A nice earner if you can master it.

​Here's another way you can use this method.

​​OK, this can get confusing, so you might need to watch this more than once.
                                                                                               

​The Last