Price Action BASICS - Day Trading Strategy

Free Trading Training Content

Date July 10 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.

[bombast]

Great pep talk at 07:30 about not being shaken out of good setups - I'll remind myself next time it happens. Thanks Thomas!

[Jonathan-gpoh]

Thanks man. This time frame is 5m, 2m or 1minute?

[Gagan_S]

At some point what is the difference between a higher low and a first entry long? I think higher lows/lower highs are acceptable, so long as they're very close in price their preceding low/high. However if it's a very large distance, I don't consider it a high probability setup as there could also be a second leg down.

[brian_w]

Just wondering what charting software you use? Tradingview doesn't provide data in ticks

[abdulazizsaid]

Do a video about NYS London sessions and Asian S how it works..its confusing

[Watykaniak]

10:30 that was a double trap on my chart

[darylbaptie]

Thanks Thomas! The HL trade definitely helped with the emotional training, sitting through a bit of drawdown but knowing the analysis was 100% spot on was a good experience for the future.

[SuperRafarox]

Great video Thomas, in Fact, this 2EL, and HL confirmation, was follow by 2ES Fail, triple confirmation, thats why i add another contract on the same trade!, i was typing this msg then i heard your explanation hehe, every day, i`m lvling my skills thanks You