Justin Bennett – Daily Price Action
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Description
What is a Justin Bennett Daily Price Action for Cheap?
Learn to Trade Forex Like a Fund Manager
There is a reason why the likes of George Soros, Stanley Druckenmiller, and Bill Lipschutz don’t concern themselves with the 5 or 15-minute charts – it’s because they know that the real money is on the daily time frame and higher, which is the exact approach I teach in my course.
Daily Price Action course consists of 9 modules with each module discussing a specific segment about price action. Justin explained each concept with the help of graphical illustrations and practical examples (where required).
What You’ll Learn In Daily Price Action
Module 1
A brief overview about various topics covered in the first module is given below:
- Using the Right Charts
In this chapter, Justin highlighted the significance of five-day charts. He explained, with the help of examples, how an incorrect chart (having Sunday candles) may ruin your technical analysis. - Setting Up Your Charts
Here the coach teaches you how to set up a chart, i.e. selecting colors for different candles, background and bars. - Currency Pairs to Watch
Justin shared a list of 26 currency pairs that he considers best for trading. He also gave some suggestions to newbie traders about the selection of a pair. We did think it was weird he is recommending 26 pairs that beginner traders should watch. We felt this was a bit overboard since most beginner traders cannot effectively monitor so many pairs.
Module 2
The second module is all about choosing timeframes.
- Timeframes
In this chapter, Justin explains the significance of only using higher timeframes, which we felt put him into a specific ‘camp’ of mentors teaching the same thing. - Common Objections to Trading the Higher Time Frames
Here Justin took a look on commonly used justifications for using smaller timeframes such as “I don’t have enough money to trade the higher time frames”, “Trading higher time frames is boring”, etc. We didn’t find any compelling reasons here, but felt it was an honest attempt.
Module 3
This module talks about identifying daily levels with the help of various price action methods.
- Using Weekly Pin Bars to Identify Daily Levels
In this lesson, Justin teaches a technique about using weekly pin bars for daily key levels. The lesson also consists of a short video. - Dynamic Support/Resistance
The mentor explains how moving averages can be used to identify dynamic support and resistance levels. The lesson covers everything about moving averages. He does use the same moving averages as Nial Fuller (from Learn to Trade the Market), but also adds a few more. - Price and Time
In this lesson, Justin touches on swing analysis and how price action approaches a level, but there is not much depth here. - Identifying Horizontal Levels
This lesson consists of two videos in which Justin demonstrated various methods for identifying key horizontal support and resistance levels.