Understanding Price Charts Using Price Action
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- เผยแพร่เมื่อ 26 ส.ค. 2024
- Free Trading Training Content
Important Price Action Rules - rb.gy/eh8w
Simple Guide To Trading - rb.gy/sypf
The Best Trading Pattern - rb.gy/hdkd
How To Count Entries - rb.gy/kptd
Two Legged Master Setup - rb.gy/x6vq
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How to Find the Best Chart - rb.gy/h0m3nw
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Date June 28 2024
Time frame - 2000 tick chart
Instrument - S&P 500 ES Futures
Indicator(Supportive) - 21 bar EMA
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Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
The only people who know where the market is heading are institutions. They are the ones who make the market move and our job as retail traders is to follow their footsteps and get the piece of their movement. As price action traders we need to find the most profitable ways to enter trades. The highest probability setups are 2nd entries, its variations and confirmations setups at the key entry points.
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Thank you for these videos.
I learn a lot from them!
what a fantastic read of the price action Thomas!! you are absolutely a perfectionist !! as i say: a SURGEON of the market!! well done !!
as always
❤
Thanks Thomas! 2-0 for me today, finally got my trading back on track.
Thanks, I struggled a bit today. I couldn’t find the right balance.
Thank you Thomas.
Thanks Thomas!
What is the timeframe on Tradingview chart
I trade 2000 tick chart but TW doesn't offer tick charts so I recommend 1-5 min charts.
Thank you. I had a perfect SB here 5:05 on F2ES and I got trapped. 1-2 but okay
Me too. I had textbook F2ES, with a bullish signal bar candle, and after refreshing the data, this candle changed to bearish. So i got trapped there. But i dont feel bad. It was after correction, above ema, while we expecting NH to form. So the setup was there.
There is no 1ES there... just sideways movement congestions with a tick lower , it doesn't look like a leg or even a real try by the bears.
Hey Thomas, Great video! I just found you channel and you are filling my last missing piece of the puzzle! :-) Do you scalp for 1, 2 or 3 points?
2 points most of the time.
Thanks Thomas. Question== What is the rule when market makes a measured move? Thanks
Mainly you can expect that move to be over. Especially if it aligns with other rules. So it mainly signals depletion of that move.
But measured moves are not strict rules. They are just tools to help us understand the overall picture. One of the tools we use as price action traders.
@@ThomasWade Thank you Thomas
Thomas, I would be interested to know what percentage of your trades are correct!?
Around 80%
1-0 Every time I get closer to the goal of funding my account. I have a question, my candlestick pattern is different at some times, could it be a different data provider? In my case it is tradovate, I have the graph at 2000 ticks. thank you and you are the best.
It is completely normal for tick charts to vary sometimes.
Depends on many factors, borker, data provider, reloading historical data, timezone ect.
Don't worry about it too much. Sometimes you get better bar and sometimes I get better bar, it all evens out.
Make sure to reload historical data often.
@@ThomasWade Thanks Thomas, very helpfull
What the easiest time frame for trading in price action ? 🙏
I like 2000 tick chart. Which is similar to 1 min. Tick charts or time based charts 1-5 min are ideal for daily trading.
Thanks for the Explaination
can you tell me what broker you are using or scalping ?
the chart structure become messy on Mt4 on 1 min timeframe
Ninjatrader, AMP Futures. Interactive brokers.
You can also use prop firms as Apex for example. Or Topstep.
@@ThomasWade thankyou ❤️
Does the price action work on 5 minutes time frame? Please share your views. Thanks & Regards..
Yes, price action works in all markets. 1-5 min are good timeframes.
😢 Please help me, I confused between LH and New Low ?
Lower High is a setup we use to confirm high probability trade. LH can confirm 2ES or failed breakout.
New low is used when we talk about trendline rule. Because when downtrend is broken, we expect prices to test the new low. Lower that the low inside the trendline prior to break.