Live IOF Forex Trade with Mr. Green! Quick USDCAD Set-Up transcript

Hey, what's going on? It's Mr. Green here with Trade Phantoms. I'm going to do a quick video on a dollar CAD trade that I set up for the Phantoms community earlier this morning in our chat, which is private uh for members only. I didn't make it one of our trade picks because it was something that goes a little bit against my trade plan and my rules. Well, not against my trade plan and my rules, but against what I teach everybody.

So, I didn't want to uh put it out there and confuse people. So, I figured I would just make a short video on why I took the trade. So, hold on one second. I know there's going to be some people joining me. Hold on. Hold on. All right. What's going on? Hey, Luke. All right. So, let's run through this real quick. So, this is not going to be a long session. This is going to straight to the meat and potatoes, straight to the trade, and that's it.

So, obviously, you know, here at Trade Fighters, we use IOF institutional order flow. That's not, you know, something we created. That's something we use, but that's something professionals use. You know, that's the uh the cream of the crops, the the top trading strategy in the world because it's supply and demand. You know, can you configure and add things to a tra to it to your trading strategy? Of course, you can.

What's going on, Julie, TC, Oscar? Um, so this is really just, you know, for, you know, people that are already members, this doesn't apply to them because they've already gone through the training and the curriculum. But if you're watching this video and you haven't checked us out yet, this is basically, you know, taking a look at how a professional trades and then, you know, adding my own little things to it, which I do in the foreign exchange market.

So, no matter what any trade, we're always going to go top down analysis, right? So, we're going to look at order flow on a high time frame. So, if you, as you can see here, I'm starting on my monthly on dollar CAD. All right? And right now, price is low in the range on that fib tool. that fib tool is not used is for Fibonacci retracements or technical analysis just to let you understand that. Um I personally don't use any TA.

TA is cool. I you know if it's added to supply and demand, it's just not my my cup of tea. So that fib retracement is really just to give me a range and an idea. I'm sorry, not the fib retracement. The fib tool is to just give me an idea of where I am on the grand scale on the football football field, which I would like to call it. So if you look at current price on this monthly level on this monthly range price is in the low part of the 25% area.

So usually in the 25% well not usually in the 25% area you know low on the range buy low sell high. I'm going to buy that's what I teach the students here at uh Phantoms to do. Uh that's what I encourage the members to do. You know buy when the banks are buying sell when they're selling. So if we're in a buying situation we're going to buy. Even if it's a downtrend, and it is a downtrend, as we start to evaluate trend and lower time frames, we're going to notice that it is um a downtrend.

So, now we're looking at taking a reversal. I would still encourage that reversal, but I would say in a reversal trade, you want a shorter target, okay? Because you're still going against sentiment, market trend. All right? So, the reason why that I'm making this video for y'all at Phantoms, and for those of you that aren't phantoms, you're just getting a bonus here, is I went short low in the range. So, I didn't want to confuse people.

I wanted to explain what I was doing. So, let's go down to the weekly. We obviously have a downtrend. I already assessed that. So, we'll go in multiple time frame analysis. Downtrend, low in the range, almost middle of the range, but not not quite yet. Downtrend, low in the range is a is this um is a buy. I'm selling. So, here's what I'm going to tell you what I looked at. So, I went to the daily. All right. Right? I went to the daily and what I saw was I saw this wick pop up.

Now, the reason why I saw this wick pop up on the daily chart on this candle right here where I got my current most at I know if I start drilling down on this particular candle right here. I'm going to start to find some levels levels of interest. And when I look over to the right, I also see that I am on an institutional number which is actually a penny. Okay, so around the 138 area. If you notice though, this entry starts low in the range, but this entry does come up to middle in the range.

This where the entry and the stop loss takes uh takes place. So when you go down to the four hour, you do have a really really really I'll take that that yellow spot off so you can see you really have a nice level here that you're looking at. And you know, we can make this level even look prettier, but to me this is, you know, pretty enough really where you have a rally, a base base drop. And what's happening here is institutions are selling heavy, but you know, as we teach you, there's going to be a lot of UFOs left, unfilled orders.

So, there's going to be a, you know, we're looking for a nice imbalance here. Okay. Now, obviously, I got my stop, my entry placed right around here at the 3770. Those are just some of the institutional numbers that I like to use. And then right above, I have my stop loss. Okay. Um, and now I have the stop loss covering not just the zone structure but also the penny which is an institutional psychological number. Um, as well uh we are not in weekly supply.

Yeah, we are. But you know I'm just looking at the chat. Luke, I don't really like those supply levels. I'll So let me remind you why. So yeah, you do have a rally base drop which is further up here. But this drop base base drop Luke if I don't have another confirm see this is a pure and this it's a good it's a good it's a good uh observation on your part because if I don't have another confirmation leg out here so meaning like when I get to the uh you know the leg out the move down I want another red candle right here for confirmation.

So this is proving right the fact that it goes down and then straight up obviously it hit a strong level of demand. So, I'm I'm not, you know, in my ranges, I don't look at that as supply, right? I mean, it is supply, but to me, it's not strong supply because it just bounced off. And it now, if it cleared out this demand, Luke, I would feel better, but that's not why, but you know, that's that that makes me feel better.

There's just more confirmation right to the trade. Um, that's not what I was particularly looking at. But just to go ahead further, you know, when you're looking at these high time frame uh structures, I like to see more than one leg out, whether it's supply or demand, in this case, supply. Does that make sense to you, Luke? But I like that you brought that up. That was good. Now, from the 4 hour, I can drill down. I can go threeh hour.

I can go 2 hour. I can go 90 minute. All right. I can go 60 minute. Basically, I'm seeing the same thing. I've got another supply level down here, a rally base drop, and then I've got a rally base drop base drop. So, you know, I I've got a GPZ up here. I got a lot of good looking stuff here. Um, no, BIM. It hasn't, but that's where my seasonality comes in, my experience. Have I made as much money this month? No, but I've made money.

So, you know, you got to take what the market gives you. It's it's a great it's another great question. Great observation. Uh, I've been it's No. Now, if I was new, oh, I'd be pulling my hair out, man. There's not a lot of setups. You're chasing, you know, you're you're not chasing price, but you're you're forcing setups. Not you in particular, but in general traders, they're forcing setups with, you know, zones and levels that aren't high probability.

And, you know, that basically becomes kind of the problem. So, no, I I don't consider it a problem, but I get what you're saying. Does that make sense to you? I'm okay with, you know, making a couple percent in a month and just being like, it's a dead month. And it has been a dead month. The R to R is 5 to one, Luke. So, good. That's the last That's the You're keeping me on track. I like it. So, if you look at the takerit, um, the takerit is down here at the bottom.

Okay. We will take our one to I I will take a one to one. This is not a trade pick, but, you know, I wanted to show you guys why. No, it's a five to one, Adam. It's about a four and it's basically a five. No, it's a five to one. It's a five to one. If I look at my phone, I believe it's a 5 to1. And I will take a 1 one first. So, we're about 16 pips from getting filled. So you know if this is a lot of times people aren't comfortable you know shorting this low in the range uh price has drastically impeded uh the low r the low low range level.

I mean we are this is another thing too Luke right you brought up weekly demand. Okay you you've brought up weekly demand but look it it's coming into monthly you brought up weekly supply Luke but it's coming into monthly demand. That's that's stronger. So this this dropbased rally should fear people a little bit. But look what I'm doing, Luke. My trade all takes takes place during this monthly candle bar and this wick.

The stop I'm covering this whole bar. I'm not taking profit below this bar and my entry covers this bar. Do you see that? That's another thing. So this is a little This is kind of some advance. This is more advanced stuff. It's stuff that I don't necessarily teach. That's why I didn't make it a pick, but I still wanted to give you guys a lesson. Um, yeah, Oscar in FX you. Well, first month of live tra I mean it's your first month of live trading, Oscar.

[Laughter] It It should be It should be confusing, Oscar. It should. Even if there was heavenly setups, man, all over the place, it would be. So, just a little explanation. I want to keep this video short. so I can uh repost it. But that's it y'all. Um let the people in the chat know it'll be up on YouTube obviously and I'm going to try to post it to Tik Tok and Instagram as well. Everybody have a great day. Um if you're not a member of trade fandoms, we'd love you to come join us, man.

We have a free workshop tomorrow. Uh you can just go to our website tradefandoms.com and the weekly demand is a continuation. Luke, I I know it's a continuation. I I I don't I don't I don't I don't get the point. It's a continuation pattern, but I'd like to see another candle below here. I don't I'm I don't I don't I'm not sure. I don't I don't get what you're saying right now. Rally base drop base drop. I want another drop.

That simple. I don't like the last one to be the the leg. So, I don't know if you're in debate mode with me or not, but I I I know what it is. I I don't like it. That's that's what I'm telling you. I still took the trade, but I'm telling you that trade's not predicated on weekly supply. It's predicated on the smaller level and you know the institutional number and other fundamentals as well that go into it because we have a weak dollar right now.

So that that that's why um so join you can come join us at the uh on our website at tradefandoms.com and we have a class tomorrow night. Mr. Black's teaching it. I will be there as well. Love to see you. Everybody have a great day. This is