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Simple Trick When To Use Footprint 馃敩 - YouTube
Channel: Axia Futures
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all right guys today what i'm going to
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look at is a footprint strategy but this
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isn't using the footprint and saying
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right when i see this and this i'm going
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to trade this it's about knowing when to
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use the footprint and knowing what
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you're looking for with a footprint so a
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lot of the time people overuse a certain
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tool they don't use it in combination
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with anything else all they do is they
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go right when i see this i'll do this
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and that works
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when the time is right so what i'm going
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to do is illustrate to you when the time
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is right and how exactly you can use the
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footprint
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in order to do this so if we go and have
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a quick look at a chart what i'm going
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to talk to you about is this move here
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this is an s p chart and this is a trend
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move down followed by a balanced day now
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the expectation of a balanced day comes
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from profile and we'll be doing other
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videos on profile
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so
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once you've got this expectation of a
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balanced day now there are certain
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footprint patterns you can start looking
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for
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crucially with this type of balance
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you've got an expectation of a range to
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sell
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to the upside arranged to buy to the
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downside now when the market rises
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you've got an area for around about 34
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and a quarter up to 42 and three
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quarters
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that's your area that you want to sell
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now
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that's quite a wide range so you're
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using a footprint here to pinpoint
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precisely where to sell particularly
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once you meet the us cache open once you
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reach the main session this is where the
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volume really comes in this is where you
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really see the action it really shows up
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on a footprint
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so what we have here then is a classic
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absorption
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and you can see this as the market hits
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the highs around about 40 you see
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someone absorbs and absorbs and absorbs
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this shows up really clearly on the
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footprint
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that's your clue to sell
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but the big aspect of this is the
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expectation that you're going to see
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some kind of footprint pattern to allow
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you to sell there
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the other great thing that footprint
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gives you is options
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below the absorption you see where
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somebody did try to sell on the original
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move up they sell around about 360
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contracts and the market goes straight
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through them
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this point is where buyers take control
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they take control they run into the
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absorption that stops the move now
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you've got the clue to sell and once you
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drop back through that 360
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now the market's going to drop down and
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the bonus that you get there and this is
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where footprint really offers its value
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it offers you a kind of secret level
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because we don't revisit the
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absorption
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instead we revisit that turning point
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where the market tipped back over where
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it tried to stop on the way up stopped
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by the absorption reverse through on the
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way down that's what creates the level
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later on and allows you a second chance
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to sell below the high that's what the
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value of a footprint is it's not about
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looking for this pattern you can see
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this pattern multiple times it's been
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out knowing when you want to use it this
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was a situation the expectation of a
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balanced day footprint screamed out now
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is the chance to sell defined your risk
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clearly for you allows you to maximize
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the entry and then also gave you a
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confirmation point where you could be
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really confident the market's now going
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to rotate down
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towards the mid-20s and potentially then
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all the way down to double lows as well
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that's the value of a footprint don't
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use it on its own use it in combination
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with other tools that's what we're doing
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at axial with using tools in combination
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knowing when the best time is to use
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them okay guys i'll wrap it up here
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before i do though come join me on a
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future webinar i'll be running you
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through one of these footprint type
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trades a footprint trade going into an
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open as one of the things that we'll be
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covering in that workshop amongst others
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so
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join click on the link and i'll see you
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in the workshop soon
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[Music]
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you
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