Category
🛠️
LifestyleTranscript
00:00Now let's get into watching how the use of the trading system and trade entry
00:07operates. Here we're tracking the US Canadian dollar on an M5 chart. I have
00:15the settings set to 12 pips from the trigger line. So we get a trigger line to
00:21go long or short. Our trigger line would then be 12 pips away from the bar
00:27closing price. Or we would set our buy stop to be a buyer or sell stop to be a
00:32seller. Now we are getting some lift in price looking to see if we transition
00:38momentum from downside to upside and get a long entry. There we have the trigger.
00:44Our trigger line that's yellow means pending. It hasn't been activated. Price
00:50touched it. So any buy stop we had on that line has been activated and we
00:56would locate our stop where the red line is. And our initial target or
01:01minimum target would be at the green line which is 2 to 1. 30 pip target for
01:07a 15 pip stop. So market had some initial lift after our entry. Slight pullback.
01:14We're on a lower time frame chart so we don't need wide stops. And now we're
01:20picking up additional pulse of momentum. And we've hit a first target. Now the
01:27suggested stop line has moved up to lock in some profits. Prices skyrocketed up
01:34towards our next our next target line like the suggested next target if you're
01:41carrying additional positions as plotted. So not only did our stop line move up
01:47meaning you should probably put a stop here or lower. That would be the highest
01:52level you'd want to put a stop after the initial target area was hit. Then it has
01:59the second suggested target that's just been hit. So if you did one scale out and
02:05a second scale out you can see the stop lines moved up. So you'd never the stop
02:11line moves up 15 pips at a time because we have 15 pips a risk. But the target
02:19line which was initially set at 30 pips above our fill price jumps up 30 pips at
02:28a time. So literally we're going for a 2 to 1 target then it jumps up to a 4 to 1
02:34target then it would jumped up to a 6 to 1 target. So if you wanted to I mean you
02:39could be in your original entry and still letting the trade run. Just keeping
02:44your stop somewhere at the stop line that the red horizontal line you know
02:54that that's like a suggested area to move your stop up as your following
02:59price. Now this is an important point anytime I see a market push pull back
03:05and then come back up to retest that prior pivot. I always watch these areas
03:13so that was the first pivot it's pushing. I want to see price break out and run or
03:18I want to see price you know if it's gonna roll over here if it fails. So this
03:26this current stop line is a little higher than I would use. I would tend to
03:31have my stop down near the most recent pivot if I have runners on. Now if I want
03:38to have a top tight stop and I've already hit an initial target and I want
03:42to have a close stop on my last runners I don't want to give a give them a lot of
03:47room to breathe I could leave that stop at that stop line. And so far we have not
03:53had price go down and press that line it's gotten close but no press through.
03:59Now this horizontal red line that I have drawn that's about where I'd have my
04:03stop. Now that price is lifting through the prior pivot I would take my stop
04:10that was down in the last pullback pivot and I would raise it up a bit. Now price
04:15is starting to go sideways it's either gonna run up or it's gonna roll over I'm
04:19gonna lock in as much profit as I can on any runners. Okay now we had a micro
04:25pullback pivot and it's pushing again I'm gonna move my stop up again. So this
04:31green line is the next suggested target area. So in my case I would have been
04:35stopped out right here if somebody was following the stop line suggestion for
04:40the system they're still in the trade with any runners. So I would have done
04:46pretty good on my trade if you're still in this trade you're doing fantastic. So
04:52I always like to use these pullback pivots and uptrends as areas to put my
04:57stop but we do incorporate a suggested stop line for you you know where where
05:04is the highest level you'd ever place your stop as your following price. So at
05:10that level or below is perfectly fine. And then the next time as we keep giving
05:17you the new next target area where you should be focused on to exit any runners.
05:24So if you were still in this trade with runners that have not yet been stopped
05:28out you know you've locked in a lot of profit on this trade well over two to
05:33one. Now I am watching momentum starting to dissipate a bit so any last pushes to
05:42the upside are a gift and remember run the five-minute chart here we're not
05:48trading three day long trades you know we're trying to get a good hit out of a
05:54pulse of momentum and any runners there we go we get another press higher so
05:59that the target jumps up I think the targets now up to six to one or eight to
06:03one because of the move you know this market just keeps grinding up and now we
06:08finally go down go through the stop line and it changes to blue. So look how
06:14simple we give you visual reference points that run with the trade to help
06:20you manage where to have your next targets where to have your stops and
06:25then once you do get stopped out following the suggested reference lines
06:30when to go flat on the trade and be done with the trade and wait for new setups.
06:36So hopefully you can see we've designed this so you can be paying attention to
06:41momentum here on the FX pulse indicator so it can help you you know as a markets
06:48grinding higher and you're long you know where do I get out where do I get out
06:52and and you want to stay in trades that are running in your intended direction
06:56as much as you can but when you start seeing divergences building where price
07:02is grinding grinding higher and the FX pulse indicator the pulse indicator is
07:10continuing to go lower don't be surprised to see some pullback in that
07:15uptrend. Now it's not uncommon to see a pullback before you get maybe another
07:22leg higher. So we're on a five-minute chart so this would be considered
07:27scalping. We get on a 30-minute chart or a one-hour chart that would be intraday
07:34position trading to multi-day position trading but you can see right here
07:39price not making any new high pivots as yet cycling sideways and momentum is
07:48dissipating. If anybody was still in the trade you know you're getting a lot of
07:54evidence to just go flat call it good and you got an excellent you caught the
08:01bulk of the pulse of momentum that came into price. So there you have it if you
08:08have any questions on this just let us know but I wanted to give you a clear
08:11run-through and kind of a live conditions type look of how all the
08:17mechanisms to the pulse indicator works.