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Technical analysis for beginners. In
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this video, we are going to be analyzing
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GBP [music] JPY on the 1 minute and we
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are going to be using resistance and
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support zones, [music]
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rallies, pullbacks, stop loss, and take
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profit levels. So, if you come on the
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chart, we're going to identify support.
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Support is a zone where buyers are
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coming from. So [music] after the market
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forming this support zone they're
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getting this rally to the upside the
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rally [music] is forming a higher high
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of the market giving us a higher high we
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having a pullback after [music] this
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pullback market is forming another
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support zones above the previous support
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and uh is also creating a new rally
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to the upside creating another higher
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high. Notice [music] how price is
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pulling back. When it is pulling back,
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it is still [music] respecting the
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previous support zones. What does that
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indicate? Indicates that the market
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[music] is pushing upwards. So, we're
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having this support zone being created
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here above this one. And it is still
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also giving us another rally to the
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upside creating another higher high
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also giving us a level of resistance.
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Here's the most important thing the
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pullbacks and the entries. So after
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seeing the market is [music] respecting
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u the support zones the previous support
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zones. So we also after after this
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pullback here we are expecting the
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market to push upwards looking for
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previous resistance zones. So if we are
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to highlight our pullback out here we
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having this pullback here.
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So the price is pulling back in this
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here. That is giving us our pullback.
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And you're seeing that the price is
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breaking out from this channel at this
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level here. And then is coming back
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on the on the breakout. And look at
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[music] look at how it is reacting at
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this level here. is giving us a very big
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[music] long momentum candle of buyers
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and this candle is also engulfing. What
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does that mean? This indicates that the
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buyers already push the market further
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to the upside. [music]
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So we shall call left here and we see
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the previous resistance zones. These
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ones [music] are going to be our levels
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of the graphics. That's where we're
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going to be taking profits from. So on
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the closure of this candle, we are going
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a buy. The stop loss is going to be
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below support zone that was created at
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that level. Then we aim [music] for that
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take profit zone. So if you find this
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information valuable, don't forget to
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subscribe and uh also like all all of
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these concepts are in our BYBT [music]
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strategy ebook. The links are in the
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So that's our video for today.
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See you in the next one.
