0:00 welcome to day two
0:03 um day one clearly was not too difficult
0:06 you just had to sit there and watch me
0:08 cry like a little [ __ ]
0:10 um but here we are day two we're
0:12 actually looking at charts
0:14 um but you probably won't learn much
0:17 again because this is going to be a
0:19 video from scratch but you will gain or
0:22 sorry this is going to be a course from
0:24 scratch
0:25 um
0:26 but you will gain a couple things I'm
0:27 going to toss in some little tips that
0:30 you know you probably didn't pick up
0:31 when you were a beginner
0:33 um that can help you along the way so
0:35 today we are going to be talking about
0:38 candlesticks and price movement and
0:40 understanding price movement within
0:42 candlesticks Okay so
0:44 right we're on the S P 500 right now and
0:46 pretty much every single chart you're
0:48 going to have is going to look like this
0:50 uh wow
0:52 okay
0:53 uh pretty much every single chart is
0:55 going to have you know candlesticks like
0:57 this right you can click through
1:01 uh whatever ticker symbol you want
1:06 and you'll see candlesticks okay
1:09 and these candlesticks describe price
1:11 okay how do they describe it okay
1:15 through bodies and Wicks okay these are
1:17 called candlesticks because they leave
1:19 Wicks okay and these candlesticks tell a
1:22 story so
1:24 with that being said let's move over
1:25 here
1:27 and draw our own little candlesticks
1:32 okay
1:40 and I know you're probably thinking oh
1:42 my God I don't need to learn about
1:44 candlesticks I know you don't
1:46 okay I know you don't but this is going
1:48 to be beneficial Trust
1:51 okay
1:52 so these are two candlesticks okay let's
1:56 say
2:00 bro
2:01 how do I
2:08 okay whatever
2:10 anyways okay
2:12 ready so we have two candlesticks let's
2:15 let's uh dude I wish I could color this
2:18 thing
2:19 um
2:22 okay ready this one is going to be a
2:24 down candle
2:25 so I'll color it in like this actually
2:27 that looks terrible
2:29 forgive me we're going to make this oh
2:32 here I'm so stupid there
2:37 there we go that's a down candle
2:41 this is an up candle cool cool okay so
2:45 we're going to do a quick quick a quick
2:48 overview
2:50 of what these candlesticks represent
2:52 what the opening the close represents
2:55 what the body represents and what these
2:56 little Wicks that they leave behind
2:58 represent okay so first of all
3:01 understanding candlesticks okay we need
3:04 to understand what time frame we are
3:05 there are so many little different time
3:07 frame time frames up here that I'm
3:09 scrolling through right one minute two
3:11 minutes three minutes five minutes seven
3:12 eight whatever okay
3:15 and if you're very new you're probably
3:17 saying well what what do those things
3:19 mean that represents the time that it
3:22 takes for the Candlestick to close Okay
3:26 so if we are on the five minute chart
3:28 which we are on currently
3:30 if one of these let's write let's just
3:33 say this is an actual Candlestick within
3:34 the chart one of these candles this
3:38 candle represents five minutes
3:41 of price action of price movement okay
3:45 and the reason why these candlesticks
3:48 are so beneficial is Buzz is because we
3:52 can read and see
3:54 exactly what price did within those five
3:58 minutes with just this one Candlestick
4:00 okay oftentimes I can even be able to
4:04 understand and pretty much just guess
4:07 what is going on on one minute structure
4:11 just purely based off of a five minute
4:13 Candlestick or two five minute
4:15 candlesticks and once you get good at
4:18 this you'll understand how to do that as
4:21 well
4:22 um but
4:23 okay we're on the five minute time frame
4:25 one candle represents five minutes of
4:28 price action and market movement okay so
4:32 when we see a green candle or a bullish
4:34 candle okay we see that it goes up and
4:38 it ends right up here
4:40 okay
4:41 green means boom price went up right
4:44 everyone knows a green candle means up
4:46 in a red candle means down so in this
4:49 instance price opened right here where
4:52 the body of the candle starts and it
4:55 closed at that five minute Mark right
4:59 here okay
5:01 so
5:04 boom
5:05 right here is the open and boom right
5:08 here is the close
5:10 okay we can put this thing down oh oops
5:13 shrink
5:19 the clothes and
5:23 the open
5:25 cool cool okay now what do these little
5:29 Wicks that are left behind mean that
5:32 shows where price went during that five
5:35 minute duration of time okay but it
5:39 never ended up closing there it just
5:40 shows where price went right it left a
5:42 little snail Trail okay it's like
5:45 um
5:46 like you take a [ __ ] and you put on your
5:49 underwear and it's like super white like
5:53 brand new Calvin Klein underwear and
5:56 your [ __ ] from from a minute ago left a
6:02 little snail Trail it's showing that you
6:04 did go take a [ __ ]
6:06 um I I to be honest I don't know how
6:08 this relates to this but anyways okay it
6:11 shows where price went so that means
6:13 right if if there's a wick all the way
6:14 up here that means within this five
6:16 minute candle yes it didn't close up
6:18 here but price moved up to this point
6:22 okay and then same thing with here
6:25 okay down here was the lowest price
6:28 point that price went Within These five
6:31 minutes so now we know okay this is the
6:33 highest point it went to
6:35 and this is the lowest point it went to
6:38 okay same exact thing on a bearish
6:42 candle
6:46 okay
6:47 just slightly different okay instead the
6:51 open is up here
6:53 okay and the close is down here
6:57 okay so the close on a bearish candle is
7:00 lower obviously and the open on a
7:03 bearish candle is higher okay remember
7:07 oops
7:08 and again right up here is the highest
7:11 point that price was able to go to
7:14 okay and down here was the lowest point
7:17 that price was able to go to
7:19 perfect candlesticks [ __ ] simplified
7:21 by tjr now we can get rid of this
7:24 [ __ ]
7:25 okay now we are going to talk about
7:28 Candlestick patterns and and I know what
7:31 you're going to say you're probably
7:32 going to say whoa tjr
7:35 whoa whoa whoa whoa whoa whoa whoa whoa
7:41 what the [ __ ] I thought you hate
7:42 Candlestick patterns I do I hate the
7:45 ones the Candlestick patterns that are
7:48 based off of mountain tops [ __ ] W's
7:54 Head Shoulders that [ __ ] is BS I also
7:58 hate Candlestick patterns I really hate
8:01 every single Candlestick pattern that is
8:03 more that that contains more than two
8:05 candles
8:06 the only Candlestick patterns I like
8:09 because they can actually show you price
8:12 action and dictate where price is going
8:14 to go are the single Candlestick
8:17 patterns okay so let's look up
8:21 if this thing will load
8:25 candle stick
8:29 patterns cheat sheet
8:33 hopefully this pulls up the single
8:34 candlesticks
8:37 um okay good it has some of them on this
8:39 all right
8:42 let's pull this thing up and let's zoom
8:44 on in okay
8:46 so first of all we don't give a [ __ ]
8:50 about this entire top row okay I also
8:53 don't give a [ __ ] about anything in here
8:58 anything in here anything from here and
9:01 below I only care about doji's
9:04 long-legged doji's long-legged dojis and
9:07 doji's are the same thing okay
9:09 cross doji's and inverse cross doji's
9:12 dragonfly doji's hammers okay
9:16 those are the only things I care about
9:18 okay just this row forget about all this
9:21 [ __ ]
9:22 this is garbage okay no we don't give a
9:24 [ __ ]
9:25 all right just focus on this row right
9:27 here okay and why are we going to be
9:29 talking about this okay it's because
9:33 these candlesticks are showing price
9:36 action and showing where price rejected
9:40 and where it didn't okay so if I can
9:44 honestly just find these on the chart I
9:46 don't know why I pulled that up um but
9:50 with a candle this is just like a
9:52 perfect example with a candle like this
9:55 one right we see price opens right here
9:59 it doesn't go low right it pushes all
10:03 the way up to this point but then closes
10:06 down here
10:07 okay this candle is essentially saying
10:10 to me okay we have strong bowls but not
10:14 strong enough to close
10:18 damn not strong enough to close all the
10:21 way up here or here or here or here we
10:24 left a fat ass Wick up here meaning it
10:27 was not strong enough to close above
10:29 whatever was residing above here and
10:33 more than likely it was taking this
10:35 liquidity
10:36 okay
10:39 so
10:40 right we knew that price pushed up close
10:45 still bullish
10:46 but there was weakness because it
10:48 couldn't finish out this candle right
10:51 now
10:53 let's find another example okay
10:56 um
11:02 right here okay similar situation but
11:05 with a doji usually doji's which are
11:08 just small bodies of candles okay so
11:11 when a candle looks like this
11:16 doji's are great for reading price
11:19 action okay it's usually small body long
11:21 Wicks or just just small body of a
11:25 Candlestick in general okay
11:28 looks like this okay something like that
11:31 of some sorts okay probably not that
11:33 long of candles of Wicks but you know
11:35 what I get you know what I'm getting at
11:37 anyways doji's are great because they
11:40 can show us indecision in the market and
11:43 indecision with a bias in One Direction
11:45 okay so when we see this bearish doji
11:49 right we're obviously not taking a trade
11:51 off of this but we need to be able to
11:52 read the candlesticks right these are
11:54 these small things that that intuition
11:56 can build that that experience builds by
11:59 being able to see and read these
12:00 candlesticks when most people aren't
12:02 able to do that most people are saying
12:04 liquidity was swept we broke structure
12:05 but you guys can't even read these
12:07 candlesticks you don't even understand
12:08 what these are saying to you and they're
12:10 telling you a lot of information
12:13 okay so this Candlestick in particular
12:15 right we see Boom Big sell-off down here
12:19 okay and then we get to this candle okay
12:21 we get long Wicks to the downside
12:24 but not a full body close right we don't
12:28 see a a a big body close to the downside
12:32 means we're losing bearish momentum okay
12:35 and as you can see we did lose it we
12:37 start consolidating pull up a little bit
12:38 higher and then nothing [ __ ] happens
12:40 after that right so we lost bearish
12:43 momentum with this candle we can see
12:46 that through the long Wick to the
12:48 downside and then it failing to close
12:51 lower in a regular sized candle right
12:55 this is a doji this is showing
12:56 indecision within the market
12:58 okay
13:01 again right we we we see the long
13:04 extension of a wick to the upside all
13:07 right showing that hey you know we we
13:11 pushed all the way up here but we failed
13:13 to close above here right
13:17 we failed to close above these price
13:19 points and then what happened we fell
13:22 okay but this is not something you take
13:24 a trade off of this is just slowly
13:26 learning and understanding okay these
13:29 candlesticks and what they're trying to
13:30 tell you okay let's go over to gold gold
13:33 can give us
13:34 um some some great momentum some great
13:38 volume and also shows us some great
13:40 Candlestick patterns okay
13:44 let's go to the Daily
13:51 where are we at
13:55 huh
13:57 okay
14:00 right here okay this is a great example
14:02 okay we push up we come down okay yes we
14:07 formed a bullish doji
14:09 right this is a doji candle however
14:13 right
14:15 we've we failed to push up completely
14:17 yes we see strong rejection to the
14:20 downside and yes we do see closures to
14:22 the upside okay this is why we cannot be
14:25 taking
14:27 trades purely off of Candlestick
14:29 patterns because this this is only one
14:31 confluence
14:33 okay yeah we see boom super strong
14:36 rejection to the downside with this Wick
14:38 and then we close bullish still right
14:40 but we're in a downtrend we are
14:43 continuously breaking structure to the
14:45 downside
14:48 okay
14:49 so that's an example of where we can't
14:52 we can't let our bias get [ __ ]
14:55 get lost in these patterns okay the
14:58 these are very very minimal in what you
15:01 need to trade but it is good to
15:03 understand and to know and to learn
15:06 these if you don't know them already
15:08 they're fairly simple you really just
15:10 have to know right a [ __ ] strong
15:14 close which is what literally a regular
15:17 Candlestick looks like to you so like
15:18 this candle for example is a just a
15:21 strong close right it's full
15:24 it's full it has not many not a high
15:28 Wick
15:29 um to the upside if anything a highway
15:31 to the upside on this candle would be
15:32 even more of a reason for it to be a
15:35 strong close and then also right the the
15:37 wick to the downside is fairly small
15:39 again compared to the body right so we
15:42 had a move to the downside and we were
15:44 able to close and continue down right
15:47 and it wasn't just
15:49 a wick to the downside and then I move
15:52 back on up showing weakness
15:55 okay
15:57 let's just keep going through and
15:59 spotting these on um on the chart
16:05 okay again right this candle
16:10 this is a great
16:12 wow great example of something of of
16:15 something where like we see liquidity
16:17 get swept in almost like a confirmation
16:19 candle
16:20 okay right we see this long long Wick to
16:22 the downside price
16:24 at one point remember guys we have to
16:26 understand that price was opened here
16:29 so at one point in time during this week
16:32 price was literally a big
16:36 red candle
16:40 from this point down you PR right
16:43 everyone probably thought this [ __ ] is
16:45 going to the floor
16:47 right because and this is where like
16:50 your head headspace can [ __ ] get [ __ ]
16:52 up because people get so caught up in in
16:55 the candle that's forming and not the
16:58 candle that has formed okay we can only
17:02 make bias and decision on candles that
17:05 have formed not candles that are forming
17:08 okay that's why we always wait for a
17:10 close for a break of structure
17:13 right we have to wait for that
17:14 Candlestick to close because right it's
17:18 not an actual candle until price action
17:20 is done within you know whatever time
17:22 frame that we're on
17:24 okay so this candle for example we get a
17:27 strong rejection to the downside right
17:29 price pushed all the way down here but
17:31 then nope was able to first of all opens
17:35 down here comes all the way down here
17:37 and then rallies all the way back up to
17:39 this point and closes up here
17:43 that is a very very strong bullish
17:46 candle right we see
17:49 massive Wick to the downside tiny Wick
17:53 to the upside meaning it literally
17:55 closed almost as as bullish as it could
17:58 have right on on most bullish candles
18:01 you're going to get some sort of Wick or
18:03 and on most bearish candles you'll get
18:05 some sort of Wick
18:06 um to the top side or to the downside
18:07 but when it closes so fully like this
18:10 with a strong rejection to the downside
18:12 that is telling you
18:15 a bunch that's telling you a thousand
18:17 words right that candle is is telling
18:21 you exactly where price wants to go okay
18:23 what does price end up doing rallies
18:25 higher takes out these highs Etc
18:28 okay
18:29 so
18:31 this is all that I want you to do for
18:34 today I know today boring as [ __ ] boring
18:37 as hell you're probably like what the
18:39 [ __ ] but
18:40 right we're starting from the beginning
18:42 we're starting from Clear slate okay
18:44 trust me we're going to bring you guys
18:46 up with this and it it'll go it'll get
18:49 going a lot quicker than you think okay
18:52 so
18:54 price
18:55 or sorry all that I'm asking you to do
18:59 is get on whatever chart you trade okay
19:02 whether it's SPX g-u GJ whatever okay
19:06 get on whatever pair that you trade okay
19:11 get on whatever pair that you trade
19:14 and just spot these and see how Market
19:17 reacts like literally just being on this
19:19 chart I can I can see two
19:21 boom massive Wick rejection to the
19:24 downside still not a good close but what
19:27 happens next we do get a full bullish
19:29 close boom rallies takes out these highs
19:33 right okay
19:35 similar to this right we have a doji
19:38 long candle or sorry long Wick to the
19:42 downside bullish clothes right here to
19:44 the upside right we can use these two in
19:47 Confluence together
19:50 right we have this full candle and then
19:52 this doji with a big wick to the
19:54 downside showing rejection after several
19:57 weeks of of Doubt of being down right we
20:00 can show exhaustion through the dojis
20:03 okay and then we get boom closer to the
20:06 upside price rallies takes out these
20:09 highs so all that I want you to do
20:12 again strong look to the downside full
20:15 close rallies
20:17 so all that I want you to do is get
20:20 whatever choose whatever pair you trade
20:22 okay
20:25 um and just look for these and see how
20:28 price reacts off of these certain price
20:30 points okay find at least 10 examples
20:33 okay this is your homework all right
20:35 find at least 10 examples
20:38 of these doji candlesticks okay
20:41 understanding Wicks within the market
20:44 right there's there's a saying Wix don't
20:47 lie and I think I literally think
20:49 there's someone that teaches
20:51 on uh like YouTube or Instagram named
20:54 Wix don't lie I'm I may be wrong though
20:57 it may be fibs don't lie I don't know
20:59 but Wix do not lie Wix and candlesticks
21:03 tell the whole story
21:05 okay of price action no we do not care
21:09 about a [ __ ] Mountaintop look how
21:12 that [ __ ] played out [ __ ] horribly
21:14 right you got stopped out we don't give
21:16 a [ __ ] about mountaintops we care about
21:21 price action okay
21:24 and that is what we were going to be
21:25 studying this literally this entire
21:28 course okay so with that being said
21:32 that's your homework okay very very
21:34 short lesson today but essential okay in
21:38 on in in in in you know slowly gaining
21:40 that [ __ ] market experience that I
21:42 know you guys need and want
21:44 okay
21:46 um and honestly these are going to be
21:48 the lessons that are more important for
21:49 you guys because this is [ __ ] that you
21:51 guys probably brushed over and don't
21:54 think about too often so
21:57 um homework is fine 10 examples of this
22:00 bro
22:03 homework is fine 10 examples of this on
22:07 your own pair on your own chart that you
22:09 trade okay
22:11 take screenshots of it
22:13 um [ __ ] label them do whatever you
22:16 need but not only do I want you to find
22:19 examples of this on the chart but find
22:21 how price ended up reacting off of these
22:25 examples okay and that will give you a
22:28 better understanding of candlesticks
22:30 okay the closes of candlesticks how
22:33 Wicks work in this market okay Wix tell
22:36 tell so much of a story within this
22:39 Market these candlesticks tell tell the
22:41 entire story of this Market okay so if
22:44 you cannot understand candlesticks you
22:45 won't be able to understand the market
22:47 because we have to read these things
22:49 these things are telling us a story and
22:52 we have to be able to read them and
22:53 dissect them and understand them
22:55 so with that being said
22:58 that is day two super short day we're
23:02 starting off slow this is like syllabus
23:03 week right we'll we'll start you off
23:07 with the easy [ __ ] and then we'll get
23:08 into the difficult stuff okay so find 10
23:11 examples of that and then I'll see you
23:14 tomorrow all right peace
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