Price Action Patterns for Scalp Trading
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- เผยแพร่เมื่อ 25 มิ.ย. 2024
- Free Trading Training Content
Important Price Action Rules - rb.gy/eh8w
Simple Guide To Trading - rb.gy/sypf
The Best Trading Pattern - rb.gy/hdkd
How To Count Entries - rb.gy/kptd
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How to Find the Best Chart - rb.gy/h0m3nw
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Date June 26 2024
Time frame - 2000 tick chart
Instrument - S&P 500 ES Futures
Indicator(Supportive) - 21 bar EMA
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Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
The only people who know where the market is heading are institutions. They are the ones who make the market move and our job as retail traders is to follow their footsteps and get the piece of their movement. As price action traders we need to find the most profitable ways to enter trades. The highest probability setups are 2nd entries, its variations and confirmations setups at the key entry points.
If anybody is using a strategy that actually works, I would love to learn it ❤
Well done Thomas. I did 2 trades today for AMD at the 1min, a scalp trade. lost 2 of them. I figure that my mistake was going in blindly and FOMO. Figure out I didn't wait for the second entry and enter in at the first entry. The stock has so many congestion today. learn so many things.
Great explanation of price action on this day. I think we're already having summer volatility because you can sometimes fall asleep looking at this chart 😊
Fantastic work Thomas!
As always ❤
Thanks Thomas, very well explained. Definitely a clearer market today compared to the last few days. Did you take any of these trades today?
Thanks as always Thomas! I can't seem to do anything right the past two weeks with my trading, I think I'm going to take a week or so to go back to the drawing board and re-evaulate my trading.
I was in this situation like 3/4 months ago, right now I’m trading with a win percentage of almost 90%. If you just keep going you will achieve your goals my guy. Don’t give up you will get there one day❤
@@StijnPonjee Thanks for the reply! 90% is super impressive! It gives me motivation to keep going.
@@StijnPonjee Thanks for your comment. It helped me too.
You are amazing Thomas!! I am watching your videos sometimes forget to take a breath..
One question, Do you have a spesific video for LH/HL confirmation setups? If you dont have can you do a quick video about it?? For me that one is the only blurry part. Many thanks!!!!
Higher lows and lower highs are confirmation setups. Meaning they have to confirm something.
1) Second entry
2) Failed breakout
3) Failed second entry
4) Support and resistance bounce
HL and LH are additional confirmations. Sometimes when we are not sure about the second entry or failed breakout we can wait for the market to confirm the momentum and enter after confirmation.
HL and LH should form close to EMA preferably, once they move too far we generally tend to wait unless the trend is healthy and strong. Signal bars should be good.
I would say that we don't look for HL LH at first, only when second entry for example is not forming so great and it looks sketchy, we can wait and see if HL LH will confirm it and give better entry.
@@ThomasWade appreciate the answer!
How does this price action system
Compare to ICT?
I am not trading ICT so I cannot tell.
can you tell me the S&P 500 name on tradingview and which timeframe are you using on tradingview. I could not understand 2000 tick chart meaning.
I use Ninjatrader, not Tradingview. Trading view doesn't have tick charts. So I recommend 1-5 min.
i was trading crypto for over 4 years i have good amount of capital that i can easily trade 100 to 150 es contracts easily my question is will there be any slippage in regular trading hours mkt ??
That is a good thing about ES, there is no slippage because it is very liquid.
If you are new to trading futures price action strategy, start on SIM first to prove consistency there.
Which ema is it?
21 EMA
You are very hard to understand. Please speak more clearly and distinctly instead of running your words together at lightning speed.
I understand what you’re saying but he’s got an accent and I’ve just got used to it.
I watch this 2x speed and can follow this easily as a foreigner, I can’t see the problem
Based on my stats, most people don't even watch the whole video. I assume they just skim through to see which setups are marked and which aren't.
He is fine. I watch a lot of his videos to the end.