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 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.
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.
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 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 🙌🏾
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.
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.
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.
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.
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!
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.
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.
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.
Investments are a means of providing funds for the generation of future income or profit. Investing allows individuals to set aside money while they go about their day-to-day business, let the funds work for them, and earn income for their future work. It is important to invest wisely, make informed decisions, and carefully weigh the potential risks and rewards associated with each investment opportunity. That's why I work with Sherman Williams Trading because he has profitable strategies
> Investors should be careful with their exposure and be wary of new purchases, especially in times of inflation. Returns this high in this recession are only possible under the guidance of a professional or trusted advisor. I will always recommend Sherman Williams Trading as I have made huge profits investing with him.
On a scale of 1-10, I'll give Sherman Williams Trading a 9 simply because no one is perfect when it comes to trading, but when it comes to making a profit...Trust me when I say that may surprise you. . . When you least expect it It really amazes me how I went from an average life to earning $56,500 a week. all thanks to Sherman Williams Trading.. I don't know how he does it but he makes it possible, I believe in him.
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!
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.
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.
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!
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!
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 ❤
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.
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 ❤
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 ,❤
@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?
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 !
You don't. Once prices push back below EMA and EMA is not holding that is when you start to understand the correction is stronger. This video was just about technical count of entries. Not going deeper about setups. Just how to count.
We didn't go long on the 4th nor the earlier ones because prices broke below EMA indicating correction is happening. We wait for push back above EMA, EMA holding and then we resume buying.
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.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
@@Blitcliffe Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 930k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2018, and I return at least $58k ROI, and this does not include capital gain.
@@2024Red-j5t Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
@@Petroguest-i4g Sure. NICOLE DESIREE SIMON, a well-known person in her field, is my advisor. I got to know her through my wife. It's my wife that has her number, but you could further investigate her credentials and contact her yourself.
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 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…✌🏾
2EL formed below EMA so we don't want to go long below EMA. We would need to wait for HL setup above EMA, confirming this 2EL. Btw this video was about how to count entries, technically. Not taking setups.
Once there is a trigger one tick above the signal bar you can either place stop buy order one tick above the signal bar or wait for the trigger and dropped your limit order, at the close for example. That is how I do it.
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.
Trading! 10:49 - why we say we are in downtrend if everything is up? A bit confusing, I need to learn this. I would look for long entry. EDIT: Seems like at 12:10 this explains my confuse why it is downtrend 😊
Hi, this video was just to cover how to count entries technically. We are still looking to buy, you are correct. All setups are below EMA, only after we push above EMA, we can go long.
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
It is two legged pullback but EMA didn't hold and signar bar was bearish. This video was just about how to count entries technically, not how to follow price action with rules.
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.
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?
At 11:00 we are in a long term uptrend and looking for longs, why are we considering those first 2 leg pull backs as a down trend and not as the failed 1st entry long and second entry long that we are looking for?!?! Obviously, on this chart we could see into the future and the 2nd entry failed and we continued 2 legs lower, but in the moment shouldn't we count those as a 2 legged pull back??? How can you differentiate a 2 legged pull back from a 2 legged down trend? They both have LH and LL
Very good question. There are multiple factors there. We shoul count fthose as two legged pullback. First there was a slight overshoot of the uptrend. I don't have that overshoot drawn in this video. But I just went back and drew the trendline and there is a small overshoot. Overshoot tends to lead to break of a trendline or trend reversal. The entire uptrend price stayed above EMA, here price pushed below. Already indicating stronger bearish momentum. The second entry long trade would have worked. This video was just about counting and I used that downtrend move to show how do we count when there is a correction. In normal trading we just count for second entries and if the correction is stronger, we just let it play out and then go long once price pushes above EMA. So the answer is we all treat them as two legged pullback if the trend is still in play. Here we could use knowledge about overshoot to get the idea this pullback can be stronger.
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!
at 10:55 you are counting the swings down but with live market since we are on a uptrend we will still be looking to buy. that would be a 2 leg move down trigger at key area (Ema) would that be a match trade for the long side as 2nd entry long and a valid loss?
You are correct we are still in uptrend and look for longs. The reason why I counted shorts is just simply for the video purpose since it was about counting. That 2EL would not be a valid loss because it formed below EMA. Traders would not enter there.
@@ThomasWade the 2nd bearish leg ends below EMA. But the the green one that trigger crossed and close above. If the 2bearish leg close below or just below as in this case from EMA it not a high probability setup anymore?
@@Booker21212121 EMA should hold and 2EL should form above EMA. Yes the second bar was bullish above EMA but our first signal bar is bearish. By the time bullish bar formed, the small scalp was almost made so we would be entering quite late.
@@ThomasWade I don't see the difference from these other entry from your video. . Why one is valid and the other isn't. The screnshot used for the video preview show price close below ema. The next close bullish above ema and you marked that as a.valid entry. Same as this one from current video. . Video I'm talking about. = th-cam.com/video/BcdBkIimOiA/w-d-xo.html
@@Booker21212121 We are commenting below how to count entries video. It seems you are talking about different one. Please send me an email to thomaswadetrading@gmail.com with screenshot so I can see what you are talking about.
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.
AT 7:50 it would be useful for you to show how to get into that up trend, as it looks like you'd totally miss the move by counting entries. missing a move of that size doesnt fill me with confidence about this method of entry
Not sure if this is a silly question or not. I'm just getting the hang of reading the candles, so in a bullish trends I should be looking at the top of the candle for the 1EL and for bearish trends I should be counting the bottom of the candle for the 1ES is that correct? Not sure where i should have my eyes when counting for entries.
Correct. In bearish trend you count from each new low. From that low you are observing if there is a break below bar low for entry short to trigger. Same as uptrend but vice versa.
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 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.
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.
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?
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 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.
Second entry is not alone signal for you to buy. You buy second entry if it forms under right context and at key entry point. So if you see good 2EL at key entry point, you take it. If it doesn't fit the rules, you wait. This video was about counting entries technically, not fully explaning exactly price action rules.
I'm confused so please forgive my ignorance. Maybe someone can explain this to me. But surely the bar at 1:59 would be the bar that 'reset' the count as it's high was above that of the the highest high in the trend so far, not the bar identified at 2:19?
You are correct. The entry I talked about 1:59 triggered when it broke above the bearish bar but it managed to create such a big bull bar that it also created new high that would reset the count. The reason I mentioned the bar after that as a reset for count is strictly because this was the bar that got the break below it and new swing was made.
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.
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.
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 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 could never quite figure out how to count my entries correctly and this is a game changer for me. Thank you
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 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 🙌🏾
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 🙏
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.
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!
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.
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 😍🤩
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.
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!
the best video it've seen on TH-cam. you´re the best mate!
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.
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.
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.
Investments are a means of providing funds for the generation of future income or profit. Investing allows individuals to set aside money while they go about their day-to-day business, let the funds work for them, and earn income for their future work. It is important to invest wisely, make informed decisions, and carefully weigh the potential risks and rewards associated with each investment opportunity. That's why I work with Sherman Williams Trading because he has profitable strategies
> Investors should be careful with their exposure and be wary of new purchases, especially in times of inflation. Returns this high in this recession are only possible under the guidance of a professional or trusted advisor. I will always recommend Sherman Williams Trading as I have made huge profits investing with him.
Investing is a stepping stone to success, especially under the guidance of professionals. Is Sherman Williams trading so good? ? >
On a scale of 1-10, I'll give Sherman Williams Trading a 9 simply because no one is perfect when it comes to trading, but when it comes to making a profit...Trust me when I say that may surprise you. . . When you least expect it
It really amazes me how I went from an average life to earning $56,500 a week. all thanks to Sherman Williams Trading.. I don't know how he does it but he makes it possible, I believe in him.
How can I join him? Can I find him on INSTAGRAM?
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!
Your videos are absolutely super easy to follow and understand!! Love it!!
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!
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.
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 .
Even the most basic videos, always teach me something. Thanks friend
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!
I am glad it was helpful.
Sensei thank you for the cool video. We will support you with likes.
Amazing video mate. Thousands blessings for you!!
Congrats on the 2k suscribers man!!
Thanks!
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.
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 ❤
Great video explaining this concept. I had been struggling with this until I watched this video. thank you.
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.
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 ❤
Hey @Thomas, this is absolute gold. Thank you so much for this video. I’m going to start watching all your other videos now!
Thank you Thomas for the effort you put in your videos, well explained.
Best video ever... Finally some rules for entry!!
this was so simple to follow. I find your videos much better to follow than brooks. thanks for all the help.
This is the channel for me going forward. Appreciate all your effort and time. I will share your channel. Thanks
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Holy Shit. The best explanation of this Concept ever. Watched alot of others on this topic but you nailed it. Thanks men....
Thank you Thomas for all the valuable lessons! Great channel!
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 ,❤
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AS A NEW TRADER ,THIS IS A NEW CONCEPT FOR ALMOST A YEAR ,FROM MY JOUNEY
Yes, this is pure price action.
Thanks God, Someone shared his knowledge by the core if Heart ❤
Thanks sir
@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.
You're a gem. A hidden gem
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 !
11:03 how do you know that that is the start of a downtrend and not a first entry long???
You don't. Once prices push back below EMA and EMA is not holding that is when you start to understand the correction is stronger.
This video was just about technical count of entries. Not going deeper about setups. Just how to count.
why did you wait till 4el to enter the long position and why didn't you just enter at 2 or 3el around 12:46?
We didn't go long on the 4th nor the earlier ones because prices broke below EMA indicating correction is happening. We wait for push back above EMA, EMA holding and then we resume buying.
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
the tick at 4:50 had broke before the previous doji so how does that not reset the count?
Eventually yes we would reset the count after that micro double top.
WOW YOU ARE THE MACHINE OF TRADING
You are an excellent teacher. Thank you for sharing this.
That really helped me! I appreciate the video. 👍🏼
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?
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
@@Blitcliffe Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 930k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2018, and I return at least $58k ROI, and this does not include capital gain.
@@2024Red-j5t Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
@@Petroguest-i4g Sure. NICOLE DESIREE SIMON, a well-known person in her field, is my advisor. I got to know her through my wife. It's my wife that has her number, but you could further investigate her credentials and contact her yourself.
@@2024Red-j5t Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
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 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…✌🏾
Some of the best info out there. Very well explained. Thanks, brother.
Would you enter on the 2EL @ 12:26? The bar seems bullish and it crosses the EMA.
2EL formed below EMA so we don't want to go long below EMA. We would need to wait for HL setup above EMA, confirming this 2EL.
Btw this video was about how to count entries, technically. Not taking setups.
at 4:43 is the entry going to be one tick above the bullish doji looking bar and stop loss 1 tick below the same bar
Once there is a trigger one tick above the signal bar you can either place stop buy order one tick above the signal bar or wait for the trigger and dropped your limit order, at the close for example. That is how I do it.
Really good video, the explanation is clear and to the point, thanks for sharing!
Thomas wade sir i don't have words to thank you to lear me price action but again thanks a lot sir
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.
Thanks so much for this video! I was very confused about second entries and I totally get it now :D
Trading! 10:49 - why we say we are in downtrend if everything is up? A bit confusing, I need to learn this. I would look for long entry. EDIT: Seems like at 12:10 this explains my confuse why it is downtrend 😊
Hi, this video was just to cover how to count entries technically. We are still looking to buy, you are correct. All setups are below EMA, only after we push above EMA, we can go long.
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.
10:50 how do you know, as it’s happening, that this is a downtrend and not just a two legged pullback?
It is two legged pullback but EMA didn't hold and signar bar was bearish. This video was just about how to count entries technically, not how to follow price action with rules.
Warm greetings from India. It's really great learning.
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.
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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.
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.
At 11:00 we are in a long term uptrend and looking for longs, why are we considering those first 2 leg pull backs as a down trend and not as the failed 1st entry long and second entry long that we are looking for?!?! Obviously, on this chart we could see into the future and the 2nd entry failed and we continued 2 legs lower, but in the moment shouldn't we count those as a 2 legged pull back??? How can you differentiate a 2 legged pull back from a 2 legged down trend? They both have LH and LL
Very good question. There are multiple factors there. We shoul count fthose as two legged pullback. First there was a slight overshoot of the uptrend. I don't have that overshoot drawn in this video. But I just went back and drew the trendline and there is a small overshoot. Overshoot tends to lead to break of a trendline or trend reversal. The entire uptrend price stayed above EMA, here price pushed below. Already indicating stronger bearish momentum. The second entry long trade would have worked. This video was just about counting and I used that downtrend move to show how do we count when there is a correction. In normal trading we just count for second entries and if the correction is stronger, we just let it play out and then go long once price pushes above EMA.
So the answer is we all treat them as two legged pullback if the trend is still in play. Here we could use knowledge about overshoot to get the idea this pullback can be stronger.
Really very powerfull price action.thanks sir, and God bless you.
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!
at 10:55 you are counting the swings down but with live market since we are on a uptrend we will still be looking to buy. that would be a 2 leg move down trigger at key area (Ema) would that be a match trade for the long side as 2nd entry long and a valid loss?
You are correct we are still in uptrend and look for longs. The reason why I counted shorts is just simply for the video purpose since it was about counting. That 2EL would not be a valid loss because it formed below EMA. Traders would not enter there.
@@ThomasWade the 2nd bearish leg ends below EMA. But the the green one that trigger crossed and close above. If the 2bearish leg close below or just below as in this case from EMA it not a high probability setup anymore?
@@Booker21212121 EMA should hold and 2EL should form above EMA. Yes the second bar was bullish above EMA but our first signal bar is bearish. By the time bullish bar formed, the small scalp was almost made so we would be entering quite late.
@@ThomasWade I don't see the difference from these other entry from your video. . Why one is valid and the other isn't. The screnshot used for the video preview show price close below ema. The next close bullish above ema and you marked that as a.valid entry. Same as this one from current video. . Video I'm talking about. = th-cam.com/video/BcdBkIimOiA/w-d-xo.html
@@Booker21212121 We are commenting below how to count entries video. It seems you are talking about different one. Please send me an email to thomaswadetrading@gmail.com with screenshot so I can see what you are talking about.
Great way of teaching. For long, looking for 2nd failed entry short.
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.
"why is this a new high? because this is a new high" nice bro lol
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.
AT 7:50 it would be useful for you to show how to get into that up trend, as it looks like you'd totally miss the move by counting entries. missing a move of that size doesnt fill me with confidence about this method of entry
This video is only about how to count entries technically. Not really taking trades or other aspects of price action.
My goodness, this is really well done!
what would be the tick size if you were trading NQ in this style if you don't mind? Thanks
1500 NQ
Here is the video how to find the best tick chart for each instrument
th-cam.com/video/JGULPdDOWbw/w-d-xo.html&ab_channel=ThomasWade
Not sure if this is a silly question or not. I'm just getting the hang of reading the candles, so in a bullish trends I should be looking at the top of the candle for the 1EL and for bearish trends I should be counting the bottom of the candle for the 1ES is that correct? Not sure where i should have my eyes when counting for entries.
Correct. In bearish trend you count from each new low. From that low you are observing if there is a break below bar low for entry short to trigger.
Same as uptrend but vice versa.
@@ThomasWade Thank you so much for taking the time to answer my question
At 4:29 , can someone explain to me what he meant by at the EMA?
EMA is the exponential moving average, 21 bar. The blue line.
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.
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.
All I can say, is that you are just the best thanks 🎉
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.
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.
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.
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.
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.
At 12:20. What if I enter at SECOND ENTRY, since I don't have the benefit of hindsight of knowing there WILL BE be THIRD ENTRY. and FOURTH ENTRY ?
Second entry is not alone signal for you to buy. You buy second entry if it forms under right context and at key entry point. So if you see good 2EL at key entry point, you take it. If it doesn't fit the rules, you wait.
This video was about counting entries technically, not fully explaning exactly price action rules.
Thank you Mr Thomas
I'm confused so please forgive my ignorance. Maybe someone can explain this to me. But surely the bar at 1:59 would be the bar that 'reset' the count as it's high was above that of the the highest high in the trend so far, not the bar identified at 2:19?
You are correct. The entry I talked about 1:59 triggered when it broke above the bearish bar but it managed to create such a big bull bar that it also created new high that would reset the count. The reason I mentioned the bar after that as a reset for count is strictly because this was the bar that got the break below it and new swing was made.
it is very easy to explain on ready mate chart. in live market its difficult.
This lesson was to learn how to count entries only.
Does this apply on any time frame?
Thanks
Yes it does.
@@ThomasWade thanks, will definitely give this a try, just starting out with trading.
@@jessied5727 I would recommend 1-5 minute charts for scalping. Personally I use 2000 tick chart.
Trading! Good explanation of first and second entries 🎉