Reading Price Chart As A Scalper Trader

Free Trading Training Content

Date August 14 2024

Time frame - 2000 tick chart
Instrument - S&P 500 ES Futures
Indicator(Supportive) - 21 bar EMA

If you want more advanced Trading tips, strategies and trading community.

Looking for a funding company? Try

Use Coupon Code for 80% discount! - RXBKISKT

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.

[Ktheworld]

Commenting for the algorithm. Thank you for your videos and insights Thomas.

[AndersonLee-pf]

9:39 the stars really alligned for this trade

[mallilkarjunyolabhavi]

Useful information, if you could include which day EMA you are using and graph time frame details would be even more useful information.

[TimoVanbergen]

My chart looked way more different than yours before i reloaded my data, in my opinion i got chopped on 2 high probability setups today. 1-2 for todays session.

[CleverNameTBD]

At 00:50, I don't really understand why this is a second entry. The first entry short, I understand. The low ticked below the low of the previous bar. But the red bar you indicate is confusing me. My understanding of second entries is that in for shorts, you have you're lowest point in a swing, then a pullback, then another bear bar which falls below the low of the previous bar but not below the swing lowest. Then another pullback, then another bear bar that falls beneath the low of the previous bar. But I don't that occurring here? Please explain

[StijnPonjee]

Thomas, my chart was different to yours and i got stopped by two 2ES and one Double trap. I really tought they were high probability setups.

Do you know where the problem was today, because you also analyzed the chart that was already reloaded what looks very easy tot trade with no issues or good setups that’s ended up failing.

[marke]

The first 2ES stopped me out by 1 tick. I can see why now, it was still in the channel of the shortened uptrend.

[MrSamaReda]

how do you know it's a Second entry long if you didn't see the candle after it yet ?

[oscargr]

Does this strategy work in any timeframe or tick chart such as say 1300 ticks?