Over 4 years of method jumping, numerous discord channels, just about trying all indicators, blowing through countless prop firm evals, blowing up a handful of passed prop firm accounts and I am on my last bit of rope as they say. No pitty party here, however, finding this channel has given me some new ways of looking at the market and will give me enough to try this one more time. I'll be watching your videos however, this one really jumped out at me. Thanks.
@@ThomasWade Thanks for the reply! Price action is what I originally learned and am confident in it. Adding the 2 leg aspect is what I am excited about and you explain it in a way that I can understand solidly. Thank you.
This is a go to channel for learning price action trading. If you are an aspiring /ES trader look no further. Thomas is the real deal. Thank you Thomas for the review of content on counting 2nd entries on two legged pull backs.
This was a good one! Following your videos for months now and with help I’m making outstanding progress. Just earned my first major paycheck of $80k from the financial trades markets, can’t wait for over $100k next
Oh wow! If I may ask what kind of stocks or currency pairs do you tend to trade when trading futures or day trading? Do you use more functional or technical analysis? For me, I would say I lean more technical but I’m always open to learning more from someone more successful than I am. Cheers!
@@JoeCoIIar Hey man, have you got any pointers for profitable trades. You know following these video tutorials don’t always cut it. Im 1 year in, stuck now. No clue where to go from here, Lol!! Suxxxx
Truth be told, I am no expert, and I’m more concerned bout getting profits than facing difficulties in the financial trades markets. Earnestly, I’m always busy and that made me avail myself of services from a connoisseur of trading since I don’t really have the time to do it myself. And thus far it’s more than safe to say I’ve actually been earning profits consistently without the risk of ruins.
The financial trades market is hard work, but it’s no guesswork. Eventually, you don’t need a bunch of indicators or learn every mysterious new pattern in the markets to be profitable, you just need an edge ( like shadowing a pro ) or a working system per se.
Right on George! Most people overestimate the time it takes to accomplish things. You can accomplish what most people take years to do within months I know for a fact. I’ve only started using Kevin S. Mikan's approach as a licensed trades expert for 3months now, and I can attest to the advantages of working with someone familiar with the industry. His quality entry and exit points coupled with his extraordinary strategies have helped in securing me consistent ROIs in the markets, while I maintain my job.
I've been watching your videos for some time now, and I am finally gaining some traction in my trading journey as I apply your teachings to my trading. I greatly appreciate the time you spent making these videos. I will continue to spread the word about your channel to friends interested in trading. Thank you again so much! You're a wealth of knowledge (pun intended).
I gotta say Thomas, after doing this for 24 years collectively, i dont tip my cap to many, many arent worth it. You sir are VERY different. Bravo 👏🏾 👏🏾 love your testimonials. Would love to network and work on some projects together. Stay blessed 🙌🏾
Thank you so much for posting this video. You are the first person to explain second entries in a way that I actually understood it. So glad I stumbled on your site. Consider me a true follower from now on.
I am music teacher, and I must compliment you sir on your ability to explain these concepts! Brilliant .. I 've learned so much from you! Keep up the great work!
I have been trying to understand this concept for 2 days now by reading the PAT manual and watching various videos and it was with this video of yours that it finally clicked! You are explaining really well. Thank you.
Fantastic video on second entries. It cleared up so much confusion for me. Your last statement about looking for failed second entries was gold for me.
Thank you, Thomas. This video is very helpful for determining where to place the proper entries. I appreciate your time and effort in making this great analysis all the time. All the best!
Appreciate this video my man. Heard about you on Reddit. You give a lot better explanation than Al brooks so I’m excited to watch the rest of your videos to build on to my edge!
How have I not known or ever realised this with the time I have spent at the chart. 🤯 thank you. You literally made my trading 100% easier in a matter of minutes.
I really like how you explain your content, especially when you don't show the chart to the right which has already played out. It is very interesting to see your candle by candle analysis. I plan to continue following you and hope I too can follow your trading mythology, thank you for sharing your information
Greetings from Los Angeles. Really enjoyed this video. The fact that you took your own time to explain how to count entries in a very precise manner is greatly appreciated. I have also been watching your other posted videos for the past few weeks and learning your methods and rules. Many blessings and thanks Thomas!
Great video bro . I wish your recent videos continue with this momentum of teaching. It’s hard for beginners like us to understand when you go through things very fast. Love your work ❤
Hello from India.... Thank you Sir for this easy to understand and very helpful tutorial.... Every trader must learn the price action you shown in the video.... really helpful.
good videos. thx. pls allow me to say ... at 10:45 - i wish you had discussed that 1st downswing (2 larger red candles) in the context of the Uptrend. you jumped to the Downtrend discussion immediately, before the downtrend would've even been apparant in real time. At that point, we wouldn't still been counting the down-legs looking to take a long in the uptrend. It looks to me that there was a 2EL shortly thereafter that would've failed. Am I correct about this? THX
2EL formed below EMA so we are not interested. Also 2EL formed as bearish doji and not good bullish signal bar. You don't want to take that setup anyway. Note that his video was mainly about technical count of entries, not really how to identify high probability setups with all price action rules.
You are genius man. I am loving your channel and this yours two legged pull back strategy has amazed me. I am loving this content. God Bless you. You are a gem. ❤ Love from Pakistan ,❤
Thank you, I'm a new subscriber, I can say I finally found a mentor l that explained pure price action to support my knowledge that I have with my 1st youtube mentor OV. OV and you does have the same strategy 😊 but i found that yours has filtered and had more confluences to find the highest probability entry. Thank you so much, may God bless you more ❤
Hi dear, first of all thanks a lot for such an educational video. It's improving my skills. Well there is a query sir which EMA combination is best for scalping as well as for intraday. Plz make a video on it too. I will be very grateful to u sir. Thanks
Just another of Thomas Wades many great videos!! Whenever I have a question, T. Wades Channel is where I go for the answer. Thank You Mr. Wade!! I really hope YT makes it worth your wild. Because you sure are helpful to many, many people. Happy Thanksgiving T.W. and GOD bless You Buddy.
Dear sir This is totaly amazing and the way you explained is amazingly perfect. Please advise weather the price action works on the option charts I mean to say if I apply the price action on charts of call or puts of a particular scripts does it works. Kindly advise and thank you so much
Price action is universal but to trade options you need different type of risk to reward and money management. I am trading futures so I cannot really advice on options.
Looks like there was only 1ES so not really F2ES. I count from the low of the previous swing though. Because that is the first swing after the session started.
What’s the best way to avoid entry and the first candle to make a new high, but fails or doesn’t have a significant breakout? How can we instead wait for the moment the candle certainly breaks out? Thank you. This video has really helped me with a sticking point.
I understand clearly everything in this video, thank you for this content. I have no doubt that my profitability will go up from here. Thank you very much…✌🏾
Thank you for this, it really clarified a lot of things for me. One question I have is how do you handle a bar that both breaks the high and the low of the previous candle? Do you count it as both a long and a short entry?
Hi ! If you try the candle style "high low", you might find it easier to see the true length of the candle, there is no wicks on this mode therefore it makes the process of finding those 2nd entries pretty easier I think !
4:30 1EL (1 TICK) then 2EL. SUCCESS requires spatial awareness, patients and a mechanical system to count waves. 7:30 example 2. Wave count and 2EL. Note: 2nd leg entry are high probability trades. Hindsight will reveal some "missed" opportunities however if you only engage the market using 2nd leg entry then your consistency will increase. 11:00 DOWN trend wave count. This is useful information. Why _ because if applied properly it will stop you from being trapped in short term reversals!!!! 13:14 complex retracement then bullish 2nd entry long. MAGIC. Success demands that you follow your trade plan rules..
Yes. I agree with you. I noticed this also. Probably it would be best to consider the 1st entry as a likely trap for the early birds and the 2nd entry as highly likely to succeed. Bearing in mind that most people find it difficult to re enter right after a loss, especially on daily charts with the larger stop size employed. Less trades as you say, but still very acceptable due to the higher win rate.
I don't, that would be very close to signal service and I don't provide that. It takes time and effort to learn this and every trader has to go through this journey. Plus as I talked about already. Trading in front of people would put a lot of pressure on me. I already feel nervous talking to camera, let alone trading in front of croud of traders. There are honest traders you can learn from as well. I mentor students. You can contact me.
@@ThomasWade Hi I'd like to discuss mentoring. I feel I'm close to being profitable and lose more in commissions than trading most days. I see a trend and then try to buy/sell pullback and often in too early and get run over throwing limit orders out. I see you wait for confirmation bar and am starting to do that far more than I ever have. It's just that stop under bar's low is often a WIDE stop for me. My email is leveragefx@gmail.com
Hi Thomas, very good video for us as the beginners.Thank you. According to the video, after we found the high probability setup at the third swing, we entered the trade (timestamp 4:41), and we found the higher high and the swing (timestamp 5:00), may I know, what should we do? Shall we Take Profit(TP) the trade and look for another high-probability setup to enter the new trade? or continue the trade that we made on timestamp 4:41? Thank you
Hello, this video was mainly about technical count of entries. Money Management is different topic. Me personally I scalp 8-10 ticks in the ES futures market. You can see my live trading videos or trade examples to see my risk to reward and where I take profits and put my stop loss.
Hi Thomas, Thanks for this video; for a long time, I struggle to understand how you read the candles in terms of resets, why sometimes you count even the opposite colour as part of 1st entry and not a 2 entry (@7min mark). I was watching this and applying live 1m trades and my consistency in picking high probability has gone up due to more accurate read of entries. Please keep the content coming! I cannot thank you enough. Burnt a few accounts due to indicators and patience. Slowly picking up the right habits, via your videos. Can I apply 1m scalping to swing ~ 1H-4H?
Hi, I don't like 1h or 4h that much personally, not something I can recommend but you can try if you can test it. I don't understand your first question. I reset the count when there is micro double top or bottom. Not sure what you mean with the opposite colour thing. Around 7 min mark there is a clear 2EL from that highs. Don't see a problem there. Could you please elaborate more?
@@ThomasWade Hi Thomas, thanks for taking time to reply. I saw your other video and it explained clearly how to know to when it's a first/entry entry long/short etc. i.e by looking not just the body but also the wick. e.g first entry short, if the present candle body+wick is lower (ticks) than the previous candle, that is the start of the pullback. Hope that is clear. ;)
Great video! Would you enter a trade if the 2nd entry is not a strong candle? Or If the next candle after the 2nd entry, closed a strong candle would you enter on this candle instead?
Most of the time you prefer good signal bar to confirm your analysis. When context for the trade is very good, signal bar matters less but there are more factors to take into consideration. In my videos I generally explain those scenarios.
Tick charts show more details and are more symmetrical. It is similar to one minute time chart. There are many charts to trade, time, tick, volume, range etc..
You are an excellent teacher. Is there a course or mentor program you provide other than this TH-cam channel? Its ok if not, this channel provides so much great information it seems like enough to get started on sim. Thank you for this channel Thomas.
I have an academy but right now it is closed, member limit has been reached. I would still recommend just watching free videos for couple of months before buying anything. If you keep watching the free videos and you will be studying charts at the end of each day, you will improve a lot.
@ThomasWade which EMA are you using on the 1 min timeframe? 20/50/100/200? Does this work on all pairs and timeframe? Or only on the ES 1 min timeframe?
Great tutorial. I am curious as to know why you @10.45 talk about a downtrend? Live you wouldn't know it will be a move down? Following your price action the first bull bar following the two bear bars, I would expect that to be a 1. entry long buying 1 tick above? Or am I missing something? Thanks c'',)
You would start to respect the correction because we broke below the EMA. EMA didn't hold. When we push back above EMA, bullish bias resumed. This video was about technical count mainly. Not setups per say.
Awesome video as always. I have a qustion: At 14:25 you showed us F2ES. What makes it a failed entry? We see that it's failed only on price action that followed. Is there a way to define it as a failed entry on the same candle that it occured on?
I would recommend 2000 tick chart. Tick charts allow us to see more details. Anything between 1-5 minute are good. This occurrs even on higher timeframes but you may wait a long time for a setup.
I dont get the 1st and 2nd entry short around 14:05. There was clearly a lower low on the left. Does crossing the EMA trigger another rule in counting?
The entire structure was uptrend, then there was correction working lower and from the lowest point of that correction we start the count. So from the count reset point we are looking for breaks below bars lows. For this reason I counted 1ES and 2ES there, I don't know which lower low on the left you are talking about.
Great explanation... Im going to try this because its the one thing that always gets me.. what looks like a pullback which i buy in on bigger candles but after watching your video looks like the second entry L/S
Hey Thomas, thanks for the video. At around 6:57, how come you aren't restarting your count at zero with the double top of the bull & bear candles? I see how it is the first entry long, but then after the bearish bar forms, wouldn't you restart the count at zero since it was a double top? thank you!
Thanks Thomas, very helpful, I would like to know where exactly you place your limit order when 2entrie confirmed, immediately in the same candle or when opening the next candle?
At the close of the signal bar. After break above the signal bar, entry was triggered and I drop my limit. You can see my live session videos to see how I enter exactly. Opening of the next candle is indicating the trigger for the entry, above the signal bar. So technically entry is on the next candle after the bar that signals 2EL.
as always thanks a lot thomas! very very important and useful video! and as always :D a question... do i need to wait until the second entry candle closed to buy or do i just wait until the price of the candle got 1 tick higher and buy before it closes? edit: somehow this is not working for me on stocks. there are barely second legs :/ what am i doing wrong?
When your signal bar for 2EL gets a trigger (break above its high) you can enter. You don't need to wait for the bar that is triggering the signal to finish. Some stocks are more liquid than others. Depends what timeframe are you trading. I recommend futures they are the easiest to trade.
Thank you for another great price action video. Does it matter what chart time you are using? Would this be a 3M or 5M? I imagine 1M would be messy. Thanks again!
the video is clear and concise, thank you for this. what resources did you learn this from? i heard about Edwards and Magee being the OG book. does that book cover these price action guide?
Stoploss goes always 1 tick below signal bar when buying and 1 tick above the signal bar when selling. Personally I scalp for 8-10 ticks. You can see my live trading videos where I exit. I also scalp and leave one contract as a runner, swing in case I catch a major move.
Awesome stuff! Thank you so much. I was having a hard time understanding counting entries despite reading the PATS manual a couple times. You just made it so simple.one question - does the 2000 tick also work on the MES or would you recommend some other timeframe for the MES with this strategy
A couple questions: 4:07 do second entries not have to tick higher than the previous bar? They just need to be bullish (or bearish, if downtrending)? But first entries do have to tick higher than the previous bar? I'm a little confused on this. Also, you say this (7:08) isn't a second entry long because it's still working lower, but wasn't the second entry at 4:07 still working lower? Is it because the bar at 4:07 closed higher than the previous, even though it has a lower low? 5:35 if double tops reset the count, why did the bar after this first entry (3:43) not reset the count? Thanks for the great video. I'm not questioning the technique, just trying to understand better!
Thanks for this video Thomas! Btw, is ther any video explaining about signal bar, extreme, spike, etc. I am new to this type of price action, my thought was doji, engulf, etc is price action.
I haven't made a video about signal bars just yet now that I think about it. I do mention it throughout the videos though so with time you will understand.
Does the signal bar of a 2 El has to bullish? Or is it just necessary that the candles high is broken by the next candle to iniate a 2 El? I hope you get what I mean, I dont know how to explain the question better. Thanks!
The candle high needs to be broken for 2EL technically to trigger. However we as traders prefer to buy above bullish bars. This video is about technical count mainly. So it doesn't matter what colour the bar is when it comes to count.
I put my stop loss always 1 tick below or above the signal bar. Since I am a scalper my target profit is the scalpers profit. 2 points. Sometimes if volatiity increases I make go for slightly more. I also leave one contract as a runner in case market keeps going in my direction.
My name is Marvin and since watching your vids my level has elevated! Thanks for sharing your knowledge! I'll be giving more at another time.
Thank you! I am very grateful. I am glad you like it. No need to send money though, you can use it to fund your trading account :)
@@ThomasWade man where is the SL will be for 1st entry, 2nd entry?.
@@rooster1692 1 tick below the signal bar when buying and 1 tick above the signal bar when selling.
@@ThomasWade Thank you so much for the valuable reply man. Could you please tell me the timeframe?.
@@rooster1692 I trade 2000 tick chart. Similar to 1 minute chart.
Over 4 years of method jumping, numerous discord channels, just about trying all indicators, blowing through countless prop firm evals, blowing up a handful of passed prop firm accounts and I am on my last bit of rope as they say. No pitty party here, however, finding this channel has given me some new ways of looking at the market and will give me enough to try this one more time. I'll be watching your videos however, this one really jumped out at me. Thanks.
Learning to read price action is a skill and takes time. If you are new to price action then don't rush things and study diligently.
@@ThomasWade Thanks for the reply! Price action is what I originally learned and am confident in it. Adding the 2 leg aspect is what I am excited about and you explain it in a way that I can understand solidly. Thank you.
😢 g
This is a go to channel for learning price action trading. If you are an aspiring /ES trader look no further. Thomas is the real deal. Thank you Thomas for the review of content on counting 2nd entries on two legged pull backs.
For real! Tons of value for free. I hope I can get into that Discord of his someday
What is ES trader
Ticker for Emini S&P 500 futures contracts..
@@financejunk4933 Early Seller
This was a good one! Following your videos for months now and with help I’m making outstanding progress. Just earned my first major paycheck of $80k from the financial trades markets, can’t wait for over $100k next
Oh wow!
If I may ask what kind of stocks or currency pairs do you tend to trade when trading futures or day trading? Do you use more functional or technical analysis? For me, I would say I lean more technical but I’m always open to learning more from someone more successful than I am. Cheers!
@@JoeCoIIar Hey man, have you got any pointers for profitable trades. You know following these video tutorials don’t always cut it. Im 1 year in, stuck now. No clue where to go from here, Lol!! Suxxxx
Truth be told, I am no expert, and I’m more concerned bout getting profits than facing difficulties in the financial trades markets. Earnestly, I’m always busy and that made me avail myself of services from a connoisseur of trading since I don’t really have the time to do it myself. And thus far it’s more than safe to say I’ve actually been earning profits consistently without the risk of ruins.
The financial trades market is hard work, but it’s no guesswork. Eventually, you don’t need a bunch of indicators or learn every mysterious new pattern in the markets to be profitable, you just need an edge ( like shadowing a pro ) or a working system per se.
Right on George! Most people overestimate the time it takes to accomplish things. You can accomplish what most people take years to do within months I know for a fact. I’ve only started using Kevin S. Mikan's approach as a licensed trades expert for 3months now, and I can attest to the advantages of working with someone familiar with the industry. His quality entry and exit points coupled with his extraordinary strategies have helped in securing me consistent ROIs in the markets, while I maintain my job.
I've been watching your videos for some time now, and I am finally gaining some traction in my trading journey as I apply your teachings to my trading. I greatly appreciate the time you spent making these videos. I will continue to spread the word about your channel to friends interested in trading. Thank you again so much! You're a wealth of knowledge (pun intended).
I could never quite figure out how to count my entries correctly and this is a game changer for me. Thank you
I gotta say Thomas, after doing this for 24 years collectively, i dont tip my cap to many, many arent worth it. You sir are VERY different. Bravo 👏🏾 👏🏾 love your testimonials. Would love to network and work on some projects together.
Stay blessed 🙌🏾
Thank you so much for posting this video. You are the first person to explain second entries in a way that I actually understood it. So glad I stumbled on your site. Consider me a true follower from now on.
He seems from India. The India man teacher for me are amazing in teach 😍🤩
I am music teacher, and I must compliment you sir on your ability to explain these concepts! Brilliant .. I 've learned so much from you! Keep up the great work!
I have been trying to find an in depth video about 2 legged pullbacks. This is the BEST one by far that I have found!
this is the best bar to bar price action analysis I have ever watched. I will watch it 1000 times ! thanks
I took 2nd legged pullback entry (with the confirmation from Level 2) today and made profit. ...thanks again
I have been trying to understand this concept for 2 days now by reading the PAT manual and watching various videos and it was with this video of yours that it finally clicked! You are explaining really well. Thank you.
Fantastic video on second entries. It cleared up so much confusion for me. Your last statement about looking for failed second entries was gold for me.
In case you are wondering it works or not, to my surprise it is 100℅ correct, i was amazed by the results, thank you sir 🙏
Thank you, Thomas. This video is very helpful for determining where to place the proper entries. I appreciate your time and effort in making this great analysis all the time. All the best!
Appreciate this video my man. Heard about you on Reddit. You give a lot better explanation than Al brooks so I’m excited to watch the rest of your videos to build on to my edge!
How have I not known or ever realised this with the time I have spent at the chart. 🤯 thank you. You literally made my trading 100% easier in a matter of minutes.
I really like how you explain your content, especially when you don't show the chart to the right which has already played out.
It is very interesting to see your candle by candle analysis.
I plan to continue following you and hope I too can follow your trading mythology, thank you for sharing your information
the best video it've seen on TH-cam. you´re the best mate!
Greetings from Los Angeles. Really enjoyed this video. The fact that you took your own time to explain how to count entries in a very precise manner is greatly appreciated. I have also been watching your other posted videos for the past few weeks and learning your methods and rules. Many blessings and thanks Thomas!
I am glad it was helpful.
Just wanted to say thank you for this. I was missing something, and I think this was it cause my W's have definitely increased using this! Thank you!
This is the channel for me going forward. Appreciate all your effort and time. I will share your channel. Thanks
🙏
Great video bro . I wish your recent videos continue with this momentum of teaching. It’s hard for beginners like us to understand when you go through things very fast. Love your work ❤
Hello from India.... Thank you Sir for this easy to understand and very helpful tutorial.... Every trader must learn the price action you shown in the video.... really helpful.
good videos. thx.
pls allow me to say ... at 10:45 - i wish you had discussed that 1st downswing (2 larger red candles) in the context of the Uptrend. you jumped to the Downtrend discussion immediately, before the downtrend would've even been apparant in real time. At that point, we wouldn't still been counting the down-legs looking to take a long in the uptrend. It looks to me that there was a 2EL shortly thereafter that would've failed. Am I correct about this? THX
2EL formed below EMA so we are not interested. Also 2EL formed as bearish doji and not good bullish signal bar. You don't want to take that setup anyway.
Note that his video was mainly about technical count of entries, not really how to identify high probability setups with all price action rules.
You are genius man. I am loving your channel and this yours two legged pull back strategy has amazed me. I am loving this content. God Bless you. You are a gem. ❤
Love from Pakistan ,❤
🙏
Your videos are absolutely super easy to follow and understand!! Love it!!
Thank you, I'm a new subscriber, I can say I finally found a mentor l that explained pure price action to support my knowledge that I have with my 1st youtube mentor OV. OV and you does have the same strategy 😊 but i found that yours has filtered and had more confluences to find the highest probability entry. Thank you so much, may God bless you more ❤
Even the most basic videos, always teach me something. Thanks friend
Very nice slow and easy explanation of brooks price action ..easy to understand
Hey @Thomas, this is absolute gold. Thank you so much for this video. I’m going to start watching all your other videos now!
Congrats on the 2k suscribers man!!
Thanks!
Great video explaining this concept. I had been struggling with this until I watched this video. thank you.
Hi dear, first of all thanks a lot for such an educational video. It's improving my skills. Well there is a query sir which EMA combination is best for scalping as well as for intraday. Plz make a video on it too. I will be very grateful to u sir. Thanks
I use 21 bar EMA on all timeframes.
Just another of Thomas Wades many great videos!! Whenever I have a question, T. Wades Channel is where I go for the answer. Thank You Mr. Wade!! I really hope YT makes it worth your wild. Because you sure are helpful to many, many people. Happy Thanksgiving T.W. and GOD bless You Buddy.
🙏
Dear sir This is totaly amazing and the way you explained is amazingly perfect. Please advise weather the price action works on the option charts I mean to say if I apply the price action on charts of call or puts of a particular scripts does it works. Kindly advise and thank you so much
Price action is universal but to trade options you need different type of risk to reward and money management. I am trading futures so I cannot really advice on options.
Great explanation! I got a question please. At 3:11 could be considered a failed second entry short?
Looks like there was only 1ES so not really F2ES. I count from the low of the previous swing though. Because that is the first swing after the session started.
AS A NEW TRADER ,THIS IS A NEW CONCEPT FOR ALMOST A YEAR ,FROM MY JOUNEY
Yes, this is pure price action.
this was so simple to follow. I find your videos much better to follow than brooks. thanks for all the help.
What’s the best way to avoid entry and the first candle to make a new high, but fails or doesn’t have a significant breakout? How can we instead wait for the moment the candle certainly breaks out? Thank you. This video has really helped me with a sticking point.
Unfortunately I don't understand exactly what you are asking. Is there a specific time in the video you are talking about?
Thanks God, Someone shared his knowledge by the core if Heart ❤
Thanks sir
Amazing video mate. Thousands blessings for you!!
I understand clearly everything in this video, thank you for this content. I have no doubt that my profitability will go up from here. Thank you very much…✌🏾
Thank you Thomas for the effort you put in your videos, well explained.
Holy Shit. The best explanation of this Concept ever. Watched alot of others on this topic but you nailed it. Thanks men....
Thank you for this, it really clarified a lot of things for me. One question I have is how do you handle a bar that both breaks the high and the low of the previous candle? Do you count it as both a long and a short entry?
Depends on the context but yes.
Best video ever... Finally some rules for entry!!
Hi ! If you try the candle style "high low", you might find it easier to see the true length of the candle, there is no wicks on this mode therefore it makes the process of finding those 2nd entries pretty easier I think !
Thank you Thomas for all the valuable lessons! Great channel!
Sensei thank you for the cool video. We will support you with likes.
4:30 1EL (1 TICK) then 2EL. SUCCESS requires spatial awareness, patients and a mechanical system to count waves. 7:30 example 2. Wave count and 2EL. Note: 2nd leg entry are high probability trades. Hindsight will reveal some "missed" opportunities however if you only engage the market using 2nd leg entry then your consistency will increase. 11:00 DOWN trend wave count. This is useful information. Why _ because if applied properly it will stop you from being trapped in short term reversals!!!! 13:14 complex retracement then bullish 2nd entry long. MAGIC. Success demands that you follow your trade plan rules..
Yes. I agree with you. I noticed this also. Probably it would be best to consider the 1st entry as a likely trap for the early birds and the 2nd entry as highly likely to succeed.
Bearing in mind that most people find it difficult to re enter right after a loss, especially on daily charts with the larger stop size employed.
Less trades as you say, but still very acceptable due to the higher win rate.
Some of the best info out there. Very well explained. Thanks, brother.
Do you offer training or live room? I could really use your help and you are one of the few I sense I can trust.
I don't, that would be very close to signal service and I don't provide that. It takes time and effort to learn this and every trader has to go through this journey. Plus as I talked about already. Trading in front of people would put a lot of pressure on me. I already feel nervous talking to camera, let alone trading in front of croud of traders.
There are honest traders you can learn from as well.
I mentor students.
You can contact me.
@@ThomasWade Hi I'd like to discuss mentoring. I feel I'm close to being profitable and lose more in commissions than trading most days. I see a trend and then try to buy/sell pullback and often in too early and get run over throwing limit orders out. I see you wait for confirmation bar and am starting to do that far more than I ever have. It's just that stop under bar's low is often a WIDE stop for me.
My email is leveragefx@gmail.com
@@leveragefx Just shoot me an email to thomaswadetrading@gmail.com
Hi Thomas, very good video for us as the beginners.Thank you. According to the video, after we found the high probability setup at the third swing, we entered the trade (timestamp 4:41), and we found the higher high and the swing (timestamp 5:00), may I know, what should we do? Shall we Take Profit(TP) the trade and look for another high-probability setup to enter the new trade? or continue the trade that we made on timestamp 4:41?
Thank you
Hello, this video was mainly about technical count of entries. Money Management is different topic.
Me personally I scalp 8-10 ticks in the ES futures market. You can see my live trading videos or trade examples to see my risk to reward and where I take profits and put my stop loss.
@@ThomasWade Thank you .
Really good video, the explanation is clear and to the point, thanks for sharing!
Hi Thomas, Thanks for this video; for a long time, I struggle to understand how you read the candles in terms of resets, why sometimes you count even the opposite colour as part of 1st entry and not a 2 entry (@7min mark). I was watching this and applying live 1m trades and my consistency in picking high probability has gone up due to more accurate read of entries. Please keep the content coming! I cannot thank you enough. Burnt a few accounts due to indicators and patience. Slowly picking up the right habits, via your videos. Can I apply 1m scalping to swing ~ 1H-4H?
Hi, I don't like 1h or 4h that much personally, not something I can recommend but you can try if you can test it.
I don't understand your first question.
I reset the count when there is micro double top or bottom.
Not sure what you mean with the opposite colour thing. Around 7 min mark there is a clear 2EL from that highs. Don't see a problem there. Could you please elaborate more?
@@ThomasWade Hi Thomas, thanks for taking time to reply. I saw your other video and it explained clearly how to know to when it's a first/entry entry long/short etc. i.e by looking not just the body but also the wick. e.g first entry short, if the present candle body+wick is lower (ticks) than the previous candle, that is the start of the pullback. Hope that is clear. ;)
Great video! Would you enter a trade if the 2nd entry is not a strong candle? Or If the next candle after the 2nd entry, closed a strong candle would you enter on this candle instead?
Most of the time you prefer good signal bar to confirm your analysis. When context for the trade is very good, signal bar matters less but there are more factors to take into consideration. In my videos I generally explain those scenarios.
What is 2000 tick chart ? Your videos are very valuable sply for beginners. Thank you sooo much . My gratitude 🙏 ✨️
Tick charts show more details and are more symmetrical. It is similar to one minute time chart.
There are many charts to trade, time, tick, volume, range etc..
You are an excellent teacher. Is there a course or mentor program you provide other than this TH-cam channel? Its ok if not, this channel provides so much great information it seems like enough to get started on sim. Thank you for this channel Thomas.
I have an academy but right now it is closed, member limit has been reached. I would still recommend just watching free videos for couple of months before buying anything. If you keep watching the free videos and you will be studying charts at the end of each day, you will improve a lot.
Thanks so much for this video! I was very confused about second entries and I totally get it now :D
@ThomasWade which EMA are you using on the 1 min timeframe? 20/50/100/200? Does this work on all pairs and timeframe? Or only on the ES 1 min timeframe?
It works on all timeframes. 21 bar EMA for all timeframes. I use 2000 tick chart.
Thomas wade sir i don't have words to thank you to lear me price action but again thanks a lot sir
You are an excellent teacher. Thank you for sharing this.
Great tutorial. I am curious as to know why you @10.45 talk about a downtrend? Live you wouldn't know it will be a move down? Following your price action the first bull bar following the two bear bars, I would expect that to be a 1. entry long buying 1 tick above? Or am I missing something? Thanks c'',)
You would start to respect the correction because we broke below the EMA. EMA didn't hold. When we push back above EMA, bullish bias resumed. This video was about technical count mainly. Not setups per say.
Awesome video as always. I have a qustion:
At 14:25 you showed us F2ES. What makes it a failed entry? We see that it's failed only on price action that followed. Is there a way to define it as a failed entry on the same candle that it occured on?
WOW YOU ARE THE MACHINE OF TRADING
What is your best time frame and can you use on any time frame. Great video thanks a lot!
I would recommend 2000 tick chart. Tick charts allow us to see more details. Anything between 1-5 minute are good. This occurrs even on higher timeframes but you may wait a long time for a setup.
I dont get the 1st and 2nd entry short around 14:05. There was clearly a lower low on the left. Does crossing the EMA trigger another rule in counting?
The entire structure was uptrend, then there was correction working lower and from the lowest point of that correction we start the count.
So from the count reset point we are looking for breaks below bars lows. For this reason I counted 1ES and 2ES there, I don't know which lower low on the left you are talking about.
Great way of teaching. For long, looking for 2nd failed entry short.
You're a gem. A hidden gem
would you please let me know what time frame you work most of the time and what moving avrage number you are using
thanks
I trade 2000 tick chart which is similar to one minute chart and EMA is 21.
@@ThomasWade thanks you are one of the best forex teachers
All I can say, is that you are just the best thanks 🎉
Great explanation... Im going to try this because its the one thing that always gets me.. what looks like a pullback which i buy in on bigger candles but after watching your video looks like the second entry L/S
Hey Thomas, thanks for the video. At around 6:57, how come you aren't restarting your count at zero with the double top of the bull & bear candles? I see how it is the first entry long, but then after the bearish bar forms, wouldn't you restart the count at zero since it was a double top? thank you!
It is not double top because the wick is much higher on the first bar than the following bar.
@@ThomasWade I was looking at the two bars without the wicks. the bull bar that is followed by the three bearish bars.
Thanks Thomas, very helpful,
I would like to know where exactly you place your limit order when 2entrie confirmed, immediately in the same candle or when opening the next candle?
At the close of the signal bar. After break above the signal bar, entry was triggered and I drop my limit. You can see my live session videos to see how I enter exactly.
Opening of the next candle is indicating the trigger for the entry, above the signal bar. So technically entry is on the next candle after the bar that signals 2EL.
as always thanks a lot thomas! very very important and useful video!
and as always :D a question... do i need to wait until the second entry candle closed to buy or do i just wait until the price of the candle got 1 tick higher and buy before it closes?
edit: somehow this is not working for me on stocks. there are barely second legs :/ what am i doing wrong?
When your signal bar for 2EL gets a trigger (break above its high) you can enter. You don't need to wait for the bar that is triggering the signal to finish.
Some stocks are more liquid than others. Depends what timeframe are you trading.
I recommend futures they are the easiest to trade.
@ thanks! yeah I think my account is not big enough for trading futures. I would like to learn more before trying future or forex.
Thank you for another great price action video. Does it matter what chart time you are using? Would this be a 3M or 5M? I imagine 1M would be messy. Thanks again!
1 minute is actually good chart. Between 1-5 is good.
Really very powerfull price action.thanks sir, and God bless you.
the video is clear and concise, thank you for this. what resources did you learn this from? i heard about Edwards and Magee being the OG book. does that book cover these price action guide?
I learned from Al Brooks and Mack from Pats trading.
Thank you for the meaningful and helpful sharing:)🙏 Pls. advise how to we consider on the exists and stop loss targets. Take care and stay safe :)👍
Stoploss goes always 1 tick below signal bar when buying and 1 tick above the signal bar when selling.
Personally I scalp for 8-10 ticks. You can see my live trading videos where I exit.
I also scalp and leave one contract as a runner, swing in case I catch a major move.
Hi wade. I love your channel. If i may ask what ema/sma period is that? And which timeframe is thais most profitable?
I use 21 EMA, 2000 tick chart.
@@ThomasWadethanks
Great video! Assuming you’re a fellow Al Brooks student, don’t you think attribution is appropriate?
I learned from Al Brooks back in the day but I trade completely differently if you see my videos. I gravitate more to Mack actually.
@@ThomasWade Got it. That makes sense. Keep up the good work!
Warm greetings from India. It's really great learning.
Interesting way to read the price, i assume this concept works regardless the timeframe?
Correct. I trade tick charts but 1-5 min are also good.
Awesome stuff! Thank you so much. I was having a hard time understanding counting entries despite reading the PATS manual a couple times. You just made it so simple.one question - does the 2000 tick also work on the MES or would you recommend some other timeframe for the MES with this strategy
You would have to use different tick chart on MES. Something like 1400. Select 1400 and try to match it to 2000 tick chart ES.
@@ThomasWade thank you so much. Just out of curiosity, what is the logic there? I assumed they would be completely correlated.
@@dipeshamin9293 MES is less liquid I assume.
That really helped me! I appreciate the video. 👍🏼
Can you use time-based charts if you wanted? like the 1 min and 2 min chart instead of a tick chart? Keep up the good work.
Yes you can. 2000 tick chart is similar to 1 min chart.
Thanks so much. Really good explanation.
Thanks for the great videos lol i don’t see how you don’t have 100k subscribers
Haha thanks!
hi thanks for your videos, do you have any video to explain key entries? i searched but i didnt find in ur page
I recommend couple of first most popular videos on my channel. They cover it.
I'm new here and wondering if there is a certain best order to watch your videos in to learn? Also, what EMA are you using?
In my new videos in the description of videos I posted the most important videos to watch.
I have a question, do you consider the wick of candle as high or low ? Or just candle body?
Wick counts as well. That is the highest/lowest point.
Good day, Tebogo here from south africa. Which time frame are you using on the video? Can I use this strategy on all time frames?
I trade 2000 tick chart, similar to one minute. Price action works in all timeframes but I recommend 1-5min the most.
A couple questions:
4:07 do second entries not have to tick higher than the previous bar? They just need to be bullish (or bearish, if downtrending)? But first entries do have to tick higher than the previous bar? I'm a little confused on this. Also, you say this (7:08) isn't a second entry long because it's still working lower, but wasn't the second entry at 4:07 still working lower? Is it because the bar at 4:07 closed higher than the previous, even though it has a lower low?
5:35 if double tops reset the count, why did the bar after this first entry (3:43) not reset the count?
Thanks for the great video. I'm not questioning the technique, just trying to understand better!
Awesome, very well explained.
Trading! Good explanation of first and second entries 🎉
Thanks for this video Thomas! Btw, is ther any video explaining about signal bar, extreme, spike, etc. I am new to this type of price action, my thought was doji, engulf, etc is price action.
I haven't made a video about signal bars just yet now that I think about it. I do mention it throughout the videos though so with time you will understand.
@@ThomasWadeok noted! Will definitely go thourgh all your beginner guide. Thanks for reply.
@@ThomasWade btw, you have any book recommendation focusing on two legged pullback or overall PATS?
@@thefloki1071 Only book I read was reading price chart bar by bar from Al Brooks. But that is not specifically about two legged pullback.
Does the signal bar of a 2 El has to bullish? Or is it just necessary that the candles high is broken by the next candle to iniate a 2 El?
I hope you get what I mean, I dont know how to explain the question better.
Thanks!
The candle high needs to be broken for 2EL technically to trigger. However we as traders prefer to buy above bullish bars.
This video is about technical count mainly. So it doesn't matter what colour the bar is when it comes to count.
Cant appreciate enough. You are a legend.
When do you exit? Once a position is active, where do you place stoploss and how do you decide to close the trade in case of profit?
I put my stop loss always 1 tick below or above the signal bar.
Since I am a scalper my target profit is the scalpers profit. 2 points. Sometimes if volatiity increases I make go for slightly more. I also leave one contract as a runner in case market keeps going in my direction.