πŸ’« Summary
This video teaches traders how to use Finviz to find the next trending currency pair with high profit potential and a good risk-to-reward ratio. It explains the concept of the FX market moving in teams and demonstrates how to use Finviz's relative strength performance to identify the strongest and weakest currency pairs. Additionally, it shows how to incorporate the forex economic calendar to predict future price movements based on upcoming economic data.
✨ HighlightsπŸ“Š Transcript
This section introduces the topic of using Finviz to find the next trending currency pair.
Finviz is a free tool that helps find the best currency pairs to trade.
The video will cover how to trade reversals using Finviz.
The theory of how the forex market moves will be explained.
The video will also cover how to navigate the Finviz website.
Combining the forex economic calendar and Finviz can increase your win rate in trading.
The forex market moves in teams, with each currency taking turns to move.
Identifying the team of the week can help you make the most profitable trades.
Forex offers constant movement compared to stagnant stock prices.
To find the next currency that can move massively using Finviz, it is important to monitor all currency crosses and establish the strongest and weakest currency pairs.
Don't be fixated on a single currency, monitor all crosses.
Go to the Forex tab on Finviz and look at the weekly performance to find the strongest and weakest currency.
Cross out the currency pairs that have already moved, as you want to focus on the ones that have the potential to make significant moves.
Initially, there are eight currency pairs to focus on: AUD, GBP, NZD, EUR, CHF, CAD, JPY.
Using Finviz, you can eliminate currencies that have already moved and focus on finding the next currency pair that can move.
Click on the Forex tab and then select Performance to see the relative performance of currency pairs against the dollar.
Cancel out currencies that have already moved, such as Aussie, Pound, and Yen.
If you want to find the next move, cross out those currencies, but if you want to continue a trend, you can pair Aussie with Yen.
To find the next currency that can move massively, analyze the economic calendar for the upcoming week and look for currency pairs that haven't been moving.
Use the Forex Factory website to access the economic calendar.
Look at the next week's economic data, not just the current week.
Identify currency pairs that haven't been moving and anticipate that the economic data in the next week will be the catalyst for price movement.
The video discusses finding a currency that hasn't moved yet and entering the market early for a good risk-to-reward opportunity.
Look for a currency pair that hasn't moved yet and enter before the market moves.
Use Finviz's relative strength performance tool to filter out currency pairs.
Incorporate the forex economic calendar to plan your trades.
00:00hey traders welcome back to the channel
00:02in today's
00:03video i want to show you how do you use
00:06to find the next currency pair that can
00:10okay i'm talking about the next currency
00:12pair that can really trend
00:14a currency pair which will give you
00:16excellent reward to risk
00:18ratio previously i recorded few videos
00:20about how to use finvis
00:22it's a very powerful uh tool free tool
00:26you can use to find the best currency
00:28pair to trade
00:29okay in the previous video i showed you
00:31how do you find the best trending pairs
00:34but how do you trade reversals using
00:35finvis okay so if you have not watched
00:38that uh you can check that video out
00:40i'll leave the link at the top right
00:42okay but in today's video i want to show
00:44you another perspective on how you can
00:46use finvis
00:48okay in this video i want to show you
00:50how do you catch the
00:51next uh trending pair meaning that price
00:54hasn't moved yet
00:55and you are trying to predict that okay
00:57this currency pair
00:58might uh potentially be the next uh team
01:01in the
01:02market so i hope you're excited right by
01:05the way please give us a thumbs up if
01:06you like this kind of content
01:08but you really help our channel a lot
01:10okay make sure to hit the
01:11subscribe button as well because we
01:13create a lot of videos like this
01:14to serve you okay so what will you learn
01:17in today's video
01:18okay i want to start off the video by
01:20explaining to you
01:22how the fx market move okay because i
01:24cannot go into
01:26the steps if i don't cover the theory so
01:28i want to
01:29first uh start off by explaining to you
01:32how the fx market works uh
01:34this theory that i call the team theory
01:37okay only when you understand this then
01:39can you really understand
01:40why we use finn this in this way right
01:43why it's uh
01:44ideal that uh you look at the relative
01:46strength performance
01:48in the way that i will go through in
01:50this video
01:51okay after the theory i'll go into the
01:53fin race itself of course
01:54how to go to the website okay if you are
01:57new you have not watched that video or
01:59you do not know what film this is
02:01i will go through that okay i'll go
02:02through a step by step i'll show you how
02:04do you access the
02:05relative strength performance and how do
02:08use this uh to find the next trending
02:12in the market okay again we're trying to
02:14predict the next
02:15movement so this is really very powerful
02:17stuff okay there's no
02:18other channels out there which teach
02:20this kind of stuff because
02:22this are concepts that are invented by
02:25okay something that we use uh you won't
02:27find it anywhere else
02:29okay and just as a reward okay just as a
02:31reward if you stay to the end
02:33you already watches it's show and you
02:35already applied okay i want to show you
02:37how to
02:38incorporate the forex economy make
02:41calendar within this okay the forest
02:43economic calendar is also another
02:45powerful tool
02:46so in this video i want to show you how
02:47do you combine both
02:49two powerful tools the forex economic
02:51calendar and the fin vis
02:53together at the same time okay this will
02:55help you drastically increase your uh
02:57win rate if you can combine the two uh
03:00in a seamless
03:01fashion okay now by the way we also have
03:03a three-day trading guide for you so uh
03:05make sure you
03:17video is download how does the fx market
03:20okay the first thing you must understand
03:22about the fx market is that
03:23the market moves in teams okay what do i
03:26mean by teams
03:27okay basically each currency takes turn
03:30to move
03:31so maybe um this week uh it's a us
03:35meaning that u.s dollar starts trending
03:38so most of what happens is that most of
03:40the currency pair against dollar will be
03:43one direction so you want to be able to
03:46identify which is the team because
03:47that's where you're going to have the
03:48highest probability trade
03:50and that's also where you're going to
03:51make the most money okay just imagine
03:54if let's say the team is aussie and all
03:56the aussie pairs are bullish
03:58if you were to buy aussie of course
03:59you're going to make more money because
04:01all other currency pairs are moving in
04:03the same direction
04:04okay so the first thing you must
04:06understand is that uh the market moves
04:08in teams
04:08right this is so why i personally love
04:12because there's always something moving
04:14it's not like you know
04:15stocks where you know um the price can
04:17stay stagnant for three months four
04:19months and doesn't move
04:20okay forex each of the currency pair
04:22takes turns to
04:23move so if you can predict which is what
04:26is the team of the week
04:28then you can make a lot of money okay so
04:30i for example over here
04:31okay let's say the team of this week is
04:33aussie and let's say aussie is strong
04:36now if aussie is strong then you expect
04:38most aussie pairs to move
04:40okay it can be your aussie dollar can be
04:42your aussie yen could be
04:43aussie uh aussie cat you know aussie
04:47so on and so forth okay you expect most
04:49of it to move
04:50except for of course the next strongest
04:52currency okay so
04:53in this case if let's say dollar is
04:55strong then of course aussie dollar is
04:56not going to move because when you pair
04:58a strong currency
04:59with a strong currency then the the pair
05:02is not going to move much
05:04okay but the main point i want to uh
05:06emphasize here is that the market always
05:08move in teams
05:09so try to look at the forex market as uh
05:12what team is it this week what is the
05:14playing at this week are they playing
05:16the aussie you know are they playing the
05:18dollar team
05:19right do not be fixated on just a single
05:22singular currency for example
05:24okay i'm only going to trade aussie
05:25dollar and you don't bother
05:27uh monitoring all the aussie crosses
05:29okay it's good to always
05:30try to monitor all the crosses and try
05:34to establish the team
05:35for the week okay this so this is the
05:37first part
05:38now i want to show you uh the main part
05:41of today's video is
05:42how do you go into finley's and use the
05:44relative strength performance okay
05:46i have the step by step here uh for you
05:48okay i'll just go through this
05:50briefly and then i'll go on to the
05:52actual website and show you how to do it
05:54okay so step one of course you go to the
05:56website then what you want to do is you
05:58want to
05:58look for the forex tab and go under the
06:01and look at the weekly performance now
06:04what you will see is you will see the
06:06strongest and weakest currency
06:08okay in my other video i said that there
06:10is a way for you to trade
06:12those okay so again i'll leave the link
06:14at the top right to check out that video
06:16if you have not watched it
06:17but let's say uh in this video you are
06:20not interested in currency pairs that
06:21have already moved because if they have
06:23already moved then the amount of pips
06:25that you can generate from this currency
06:27will not be as much as if you are able
06:31to catch
06:32the next move meaning that you are able
06:34to get in before the market starts
06:36trending in a direction
06:38okay so in this case you want to cross
06:40them out you want to cross the strongest
06:42and the weakest because
06:44these are the currency pairs that have
06:45already moved
06:47okay so hopefully that's clear so what
06:49this would mean
06:50is that initially you have eight
06:52currency pairs okay of course uh let's
06:54not talk about the exotics
06:55but uh initially you have eight concept
06:57has to focus on okay
06:59uh you have the aussie of the pound you
07:00have the kiwi after euro frank dollar
07:03cat and yen
07:04but if you would cross out the strongest
07:06and the weakest currency
07:07what happens is that let's say assuming
07:09that aussie okay let's just assume that
07:11aussie is the strongest and uh yen is
07:13the weakest
07:14what would happen is that you are only
07:16left with six currency pairs to choose
07:19okay so if you you know you just close
07:22your eyes and you just choose one of the
07:24okay your probability of getting it
07:26right is 16.7
07:27compared to you know previously if you
07:29were to just close your eyes and uh you
07:32just choose one currency pair after it
07:34uh your probability of getting right is
07:36about 12.5
07:37so this drastically increase your win
07:39rate okay but please do not take it out
07:42of context i'm not saying that uh you
07:44just blindly enter a trade i'm just
07:46saying that
07:46if you were to not even apply any form
07:49of technical analysis
07:51you will still get about 16.7 win rate
07:54okay meaning that uh even your annual
07:56trade you don't even look at the charts
07:58you just anyhow guess
07:59there is still a much higher probability
08:02of getting it right
08:03if you were to do this step alone which
08:05is basically eliminating eight
08:08to six currency pairs okay so let me go
08:11into uh the
08:12uh website to show you how do we do it
08:16okay so i'm at a uh thin vis so the
08:18first thing you want to do is you want
08:19to click on a forex tab over here
08:21and then after that you should see a
08:23screen like this okay in this case we're
08:25interested in the performance so just
08:27click on the performance
08:28and click to the weekly uh performance
08:32okay so what does this tell you this
08:34tells you uh the relative performance of
08:37the the currency pass against dollar
08:40so of course dollar against dollar it's
08:42a nail it is it's not applicable
08:44but in this case today is a wednesday
08:47you can see over here
08:48wednesday you can see that the the
08:50strongest currency is aussie
08:52and the weakest currency is yen so in
08:55this case
08:56you want to be cancelling out aussie and
09:00yen because remember
09:01you're trying to find the next currency
09:03pair that can move
09:04so aussie has already moved yen has
09:08moved now in this case because pound has
09:11also moved almost the same
09:12amount of a distance as the aussie you
09:15can also potentially
09:17cross out a pound okay let me see if i
09:19can draw it for you
09:23so i will not trade aussie i will not
09:25trade pound and i will not trade yen
09:28okay because this currency has already
09:31okay again i want to restate my point
09:35if you are looking to find the next move
09:37then you want to cross them out but of
09:39course if you want to do a trend
09:40continuation play
09:42you want to trade momentum and you want
09:43to keep writing a trend
09:45then by all means you can trade the
09:47aussie n you can pair the aussie
09:49with the yen because aussie is the
09:51strongest and yen is the weakest
09:53okay that's what we thought in the other
09:55videos okay as
09:57i mentioned is the link to watch that is
09:59on the top right
10:00but in this video we are interested in
10:02finding the next move
10:03so let's say you were to cancel aussie
10:06you will cancel
10:07pound and you will cancel yen that
10:09leaves you with only how many currency
10:11pairs over here
10:12you have five currency pairs to true
10:14spawn so even if you know you close your
10:16eyes and you anyhow trade
10:17or the probability you catching the next
10:20next currency pair that's going to
10:22really move in a big manner
10:24is about one out of five which is about
10:27so this is how you use it right you are
10:29trying to predict
10:30but again please remember to use this
10:32with uh
10:33the charts to analyze your charts okay
10:35our three-day trading guide has a
10:37trading strategy
10:38that will place the odds in your favor
10:40so if you have not downloaded it
10:42please make sure you okay at the same
10:46please give us a thumbs up really really
10:48really appreciate it okay and hit the
10:49subscribe button so that
10:51you will not miss a video from us
10:54okay so let me just go back to the
10:56powerpoint slide and uh let me just go
10:59the bonus which is the last part of
11:00today's video okay how do you
11:04forex uh economic calendar within this
11:07okay the first thing you want to do is
11:08you want to go to your economic calendar
11:10and look at the mix okay not the current
11:14the next week of economic data okay a
11:16lot of people do not know this
11:18they only look at the current week okay
11:19you want to have a bit more um
11:21foresight you want to look into the next
11:23week so what are we trying to do
11:26now what we are trying to do is we are
11:28trying to see what hasn't been
11:30moving okay from finn this uh earlier on
11:33you you you saw some of the currency
11:34pairs haven't been moving so
11:36we are hoping that the economic data of
11:39in the next week is going to move price
11:41it's going to be the catalyst that moves
11:44price okay let me go back into the um
11:47the website and let me show you how to
11:49do it okay
11:51so right now over here we are at the
11:52forex factory
11:54okay today it's uh today it's the
11:5726th of august so the first thing you
11:59want to do is you want to look at one
12:01week ahead
12:02so i'm not keen in looking at this week
12:04because remember we are trying to catch
12:05the next move
12:06we are not trying to catch a current
12:08move so what you can do is just click
12:11then this will bring you to the next
12:13week so you can see that in the next
12:15week you have a pound news
12:17uh you have all xenos uh you have all
12:19xenos again and you have pound news
12:22and you have cat news okay you have the
12:24uh non-farm payroll
12:26so if you see uh pound has already moved
12:29aussie has really moved
12:30so perhaps uh this is not a good example
12:33dollar dollar hasn't been moving much
12:37uh dollar has been
12:40dollar sorry not dollar cap okay because
12:43dollar cannot compare with dollar okay
12:45let's just look at cat so this is how we
12:48use it okay we established earlier on
12:50that um
12:51you do not want to be focusing on aussie
12:54you do not want to be focusing on pound
12:56you do not want to be focusing on yen
12:58okay so what we did is that uh we go to
13:02forex calendar and we say that okay next
13:06there is cat news so potentially the
13:09might move before the news or after the
13:11news okay we do not know
13:13but this will definitely be a catalyst
13:15that moved price
13:16so you can see that cat hasn't been
13:18moving so what you can do is you can
13:20looking for a cat a cat pass
13:23you can look at dollar care you can look
13:24at eurocare doesn't matter you look at
13:26your cat pest
13:27and try to get in into your cat pass
13:31before the market move okay so that's
13:33how you try to find
13:34a concept here that has not yet moved
13:37and you try to uh
13:38enter in before the market move and
13:42when you enter in early you're able to
13:44catch a big
13:46you know you are able to get in early
13:48and therefore you're able to get a very
13:50good uh
13:50risk to reward okay so hopefully that is
13:53clear again
13:54if you are not sure of anything uh just
13:57leave a comment down below
13:58be happy to help you okay uh we do do
14:01your comments uh
14:02every single day and especially if you
14:04have any important questions okay
14:06so just to recap uh in today's video uh
14:09talked you through how the fx market
14:12move right basically is the team theory
14:14uh the market always move in teams you
14:16want to find the team that the market is
14:18trained on
14:18and ideally try to trade that team okay
14:21if you cannot catch your current team
14:23then try to catch the next team so that
14:25is the purpose of today's video how do
14:27you catch the next
14:28team then i also showed you how to go
14:30into fin vis and use the relative
14:32strength performance
14:33to filter out currency pairs okay you go
14:35to the website it's a free tool
14:37and uh you look at the strongest and the
14:39weakest accuracy pair and you cross them
14:41out meaning that you don't want to trade
14:43those okay if you want to learn how to
14:44trade those then
14:45check out the video the links on the top
14:47right okay that's why i went through in
14:49this video and lastly i
14:51showed you the bonus which is how do you
14:53incorporate the forex economic calendar
14:55within this
14:56basically you just click on the next
14:58week of economic data
14:59you do not look at the current week and
15:01you try to align the uh
15:03forex economic calendar data within this
15:06uh with what hasn't moved yet right
15:08because finley shows you what has
15:10already moved
15:10and what hasn't moved so ideally you
15:13want to combine what hasn't moved
15:15with it economic news that is happening
15:17in the following week
15:19because that will serve as the catalyst
15:21to spark the movement
15:22okay so that's it for this video i hope
15:24you got an event a lot of value
15:26from this video okay this is a very uh
15:28interesting concept that we come up with
15:30right you won't find it anywhere else
15:32so if you really like our work right
15:34please give us a thumbs up we really
15:36appreciate it a lot
15:37right hit the subscribe button and turn
15:39on the notification
15:40bell okay if not thanks for watching
15:42i'll see you in the next
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FAQs about This YouTube Video

1. How can traders use Finviz to find the next trending currency pair?

Traders can use Finviz to find the next trending currency pair by utilizing the relative strength performance feature to identify the strongest and weakest currency pairs. This allows traders to spot the currency pairs with high profit potential and a good risk-to-reward ratio.

2. What is the concept of the FX market moving in teams?

The concept of the FX market moving in teams refers to the movement of currency pairs in relation to each other. It involves analyzing the relative strength and weakness of different currency pairs to identify the overall trend and potential opportunities for traders.

3. How can traders incorporate the forex economic calendar to predict future price movements?

Traders can incorporate the forex economic calendar to predict future price movements by analyzing upcoming economic data and its potential impact on currency pairs. This allows traders to anticipate market movements and make informed trading decisions.

4. What is the significance of identifying the strongest and weakest currency pairs using Finviz?

Identifying the strongest and weakest currency pairs using Finviz is significant as it helps traders to focus on currency pairs with high profit potential and favorable risk-to-reward ratios. This enables traders to align their trading strategies with the overall market trends.

5. How does Finviz's relative strength performance feature help in identifying currency pairs?

Finviz's relative strength performance feature helps in identifying currency pairs by comparing their performance against each other. This allows traders to prioritize currency pairs with strong relative strength, potentially indicating future price momentum.

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