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00:00Part 2 module 5 Dow's theory we're still on it
00:03So now we are going to go straight into the chart and take a look example of Dow's theory. Let's go
00:16Okay
00:18Still on us-30 we see that you have already done your 4-1-15
00:22the price is approaching a zone and we just let the market run and do its thing and we have observed a
00:30Breakout we're gonna zoom into an M15 and see
00:36If there is a clean breakout that has happened. There's an entry but there's no clean breakout yet
00:45It's still retesting the area because no confirmation candle has been formed yet
00:51All right now over here we can see that there is a confirmation
00:57Has already been formed away from the zone
01:01It has retested a body closing inside and then after that independent candle that close above the zone
01:07so we're gonna put our stop-loss at the previous low and
01:12Then we're gonna take our profit up there. Just a very close one
01:17Usual I'm gonna enter four lots of
01:210.17 and we see how this go, right?
01:25So you see that sudden dip over there that would have caused people to get FOMO
01:32The shit out of everything they would have probably closed the trade. No, don't chill trust your setup sweet
01:38There we go. TP is hit now
01:41This is another example of
01:43If you really need to zoom in and take a look and confirm where the breakout happened
01:49You can zoom into the 15 minutes time
01:51On that 15 minutes time
01:53Then you have a clearer picture on where the body close if it really close in the zone
01:57Then that is a recess the price breaks out from the zone and then form a confirmation candle
02:02That's where you're gonna pick your trade. That is example for Dow's theory the next one. We're gonna look into
02:10Everybody's favorite and everybody has to know this by heart. Mr.
02:15Fibonacci nice and easy easy trades. Let's go nice and easy