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Trading Dengan Double & Triple Top Bottom II Trading with Double & Triple Top Bottom - YouTube
Channel: Wijaya Trading
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Sending... That's no problem. The point is you understand the concept. Where's the breakout
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Just follow the opportunity
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Because it's almost same.
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*Opening Music*
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Then, there is double top chart pattern
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Double Top's friend is Triple Top
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Triple Bottom
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Double Top
Double Bottom
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Double Top has 2 tops
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They're equal
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Double Bottom is like 'W' letter
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Triple Bottom has 3 Tops. They're equal
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Triple Bottom is like this
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We see the example, so that we have an overview in our head
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What are Double Top and Double Bottom look like?
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What are Triple Top and Triple Bottom look like?
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You can improve Flag, Ascending, and son on by yourself
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Then, for the breakout is after the breakout
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We enter the Double Top first
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Here's the example of Double Top
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Pay attention when the market goes up
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No matter how it happen, our focus is on this top. It goes back.
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Then it rises again. In the Resistance, it goes back again
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Then, we drag a line in this base
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We drag the line in the valley as test area
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Will it be breakout or no
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If it isn't breakout in this area. Even green candle shows up
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- "I'm sorry. The screen is still white, sir"
- Oh, I'm sorry
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- I try to explain it again
- "Yes"
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I try to explain it again. This is the shape of Double Top
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It means, the tops are equal
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Equal is formed by Resistance
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It goes up until the top. Then it's rejected.
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It goes up again, and rejected again.
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This valley is as test area
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If I make mapping in the group, I write it as test area. It's to test whether it's strongly breakout or no
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If it's not strong to be breakout, otherwise, it bounces to up, we follow Buy
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If it's long breakout, we follow Sell.
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Usually, if it's Double Top like this, it's so valid.
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Where it will stop? It's relative.
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As an overview, usually, if we measure this.. From the valley to up, we can drag it to go down.
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It will show up like this
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I guess it's around this
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For profit target if we do long-term Trading
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If we do short-term Trading, we don't need too far. The point is we close the profit if it's more than 100 Pips.
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Then, we see the Double Bottom. Double Bottom is almost same.
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The difference is the position.
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They're located in the Support area. It bounces to up
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Then, the valley is here. We drag the line as test area if it goes up
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When it's breakout strongly, we order Buy here
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It's also same with Triple Bottom
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The difference is only the top and the valley.
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If it's Triple Top, it has 3 tops
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3 tops means 3 bounce. 3 rejections.
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Then, this is as test area
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If it's breakout, we take Sell position
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If the breakout is above, we take Buy position
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If there are many bounces at this top, these 3 tops are strong, it will bounce down.
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There were Double Top and Double Bottom. Next, there is Head and Shoulder
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Head is head and Shoulder is shoulder
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The head is sandwiched between 2 shoulders
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The picture is like this
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The one which stands out like this is head.
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and these 2 tops at the left and right side are the shoulders
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or Inverted Head and Shoulder. It's reversed.
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Like this.
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Here's the example of Head and Shoulder
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If the market rises first
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Then it's rejected here
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It goes back
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Then, before it touches this top, it's rejected again
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But it's breakout here. It's higher
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Then, it goes down again. We drag the support line here
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This is the support line
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Then it rises again
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It goes down again
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These are equal or almost be equal. These are as its Shoulders
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The head is here
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Then, we must wait for the breakout until it's really breakout here
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After that, we order Sell.
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We order Sell here.
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Usually it goes down this far
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It means, it's up to this bottom
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I guess, it's same with this
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However, we don't need to wait that far
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Once more, don't take much profit. Because we do short-term Trading. So that we won't be dizzy and afraid
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because the market always move every time. It can make our budget run out
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It's enough for us to reach 100 Pips for the profit target
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It's ok if you want to take 200 or 300 Pips. But don't take it too long
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Because it has chance to go back again. It can make our profit becomes much minus
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Until here, any question?
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"No. You can continue it sir"
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No question?
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"Not yet."
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There are Double Top, Double bottom, Head and Shoulder
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There are Ascending, Descending, Rectangle permission
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I think it's enough if you master all of them. At least you have an overview there
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The most important thing is we must see the market condition precisely
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How if the market condition is like this? It's unclear
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It's unclear even though this Trend goes down. Then it got up last night
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After it got up, it goes down again. It's around here
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There is no dominate clue.
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So, we can't force ourselves to do order. There is no basic and Trigger we use.
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Why I entered Buy?
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Why I forced myself to order Buy in this red area?
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I forgot to take Buy position which I shared on the group.
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Turns out, it rose a little
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Actually, if we want to take profit, we got it. But it wasn't too much.
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The down is more. That's why I did an action to cover the loss
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So that I don't face MC there
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Although the movement is slow, but because the Lot is large, it's better to save it first.
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Turns out, it's long. Then, I covered it.
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It means cover or recovery doesn't have to finish at that time. It can finish on the next occasion
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Please practice it one by one in the Demo account
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First, starting from reading the Time Frame first
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So, step by step doing Analysis is..
First, open large Time Frame (D1) compare it with H4
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After we find the general overview,
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We look for the trigger at H1
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We order it at H1, then we look for the Trigger here
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Second, see the Trend
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See, where does the Trend go?
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Then, pay attention to the formed candle structure
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How's the structure of the closest candle from running
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Fourth, read the character of last candle
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Before running candle, there was formed candle there. Read its character.
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If the buyer is dominant and it has strong impact to the previous candle
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So, it can be clue that it will continue to rise
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Fifth, make sure that it has confirmation candle
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When we found Doji or long thick candle without correction on the last candle
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Make sure the confirmation candle
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or a strengthening candle
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Don't forget to pay attention to the support and resistance
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That's the step by step how to do analysis
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We can open the large Time Frame first
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See the Trend
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How's the structure of formed candle
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It will appear to go up when the candle structure looks like want to rise
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When it goes down, the candle structure will go down
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Then, we see character of the last candle
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Then, confirmation candle. It strengthen the formed candle
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I hope today's material can be useful
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Please try these steps to do order
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Analyze it first then do order in the account which I explained yesterday
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Try to use stable numbers which always we use. So that you'll master the character
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Thankyou. Good morning!
See you tomorrow at the same time
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Ok. Good morning! and Assalamualaikum Wr. Wb.
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"Thankyou, sir"
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