How I Confirm Narrative With Drivers | GxT

What's up guys? So in this video I'm going to be showing you guys how to confirm narrative with drivers.

This is very important in my trading, so let's go ahead and get into it. Now I have a bunch of slides created here.

It's going to be a long video for sure. If you guys like these slides and like the way this video is presented, I can do the same thing in my future videos.

Just let me know what y'all think. Now let's go ahead and start.

So the first thing is we must start with the economic calendar, right?

And it's very important that you understand, you know, the market that you're trading and what actually affects that market.

So if you're a forex trader, you're going to look within the currency pair.

Obviously, a currency pair is just two currencies, right, made up of two currencies valued against each other.

So, for example, if you're trading GBP, USD, you're only concerned with GBP and USD red folder news events.

Now, if you're going to trade GJ or something, GBP, JPY, you'd be looking at GBP, JPY red folder.

right now one thing i will say um

i don't trade forex but i have noticed that usd

right the the large news events i feel like they affect

almost all the currencies i feel like uh

like i've even seen it affect like gj it's pretty weird so y'all gonna have to do some testing on y'all's own there but i am pretty well versed in these three markets especially indices so

So, you know, within the indices markets, I'm referring to NQ, ES, and YM as the triad here, right?

If I was trading, you know, Forex, I would be trading, I would be looking at DXY, EU, and GU, right?

These are three correlated markets in the same asset class.

So here's the same asset class, three correlated markets in there. So this is what I'm referring to within SMT, right?

In gold, I'm referring to gold, silver, euro, or XAU euro as the three correlated markets in this asset class.

And then this is for oil, right? So it's pretty important to understand what affects that asset class.

So obviously USD red folder affects indices.

And then 930 New York Stock Exchange open every single day.

Now this 930 open is only specific to indices only.

I see a lot of people use it on gold or oil or even Forex. It's absolutely irrelevant.

And another misconception is that 8.30 is some relevant time every single day. It's not.

8.30 is absolutely irrelevant if there is no 8.30 red folder news event.

So you don't need to be working on 8.30 if there is no 8.30 news event.

So when you refer to gold, the only thing you need to be concerned with is USD red folder news events.

And for energy, another misconception I see is that people try to pair USD red folder news events with oil.

It doesn't affect oil. Oil has its own economic calendar.

It's the energy calendar, and we're only referring to red folder news events within that calendar. calendar.

So some pretty simple stuff but you need to understand how to filter the economic calendar.

You're going to have these orange, yellow, and white news events that are absolutely irrelevant. So the first thing you're going to do is log on to ForexFactor.com.

This page is going to be pulled up when you go to calendars and you're going to toggle this little green

filter icon. When you press that, this is going to pop up.

And whatever asset you're If you're trading Euro JPY, then you're going to click Euro JPY and unclick everything else.

If you're trading indices, the only thing you should have checked is USD.

And then for any market that you're trading, unclick all of these. Unclick orange, yellow, and white. It's absolutely relevant.

Apply the filter and you should have something like this. Where it's going to show all the news events laid out for the week.

And this is going to be your roadmap. up right now a

caution protocol is you never really want to be entering you

know before nfp cpi or fomc press conference

now this is before you know the driver within the same

day i don't have a caution protocol for entering

um you know before you know the day uh the news release day so like let's say nfp is on a friday always i will still trade thursday for example but

I want trading prior to NFP within the same day. Now, it's very specific when I do.

It requires a specific framework, which you're going to see a little bit of that here. So let's move on.

So now, how to apply the energy calendar, because a lot of people don't know this. So same thing for XFactory.