Scalping Patterns For DayTrading - Price Action Technique

Free Trading Training Content

Date March 4 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.

[Phdygsjic]

God blesses the good. The fact you give these golden nuggets for free God returns it in abundance of success. Thank you so much for taking your time to make these videos and explaining everything thoroughly. I dont think you know the impact you have on my life and everyone else learning from your videos. Words cant express the gratitude i have for you but i hope you can understand how deep it goes. One day ill be able to pay back some how 😇

[Archer]

Thank you.0-0. Today. I’ve had a few of those these past weeks.

[CesarBurch-gm]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.

[bombast]

Thanks Thomas. Great pep talk at the end.

[JasonF-yt]

From 9:30 to 10:30 am there is a bullish falling wedge. When in breaks up you could have bought it and sold once the pattern breaks around 11:30am. The rest of the chart is tough.

[zullekirhasyim]

Thanks thomas, you explained was clear

[littlehammer]

Hi. Thomas. I was trapped at the 8.50 min. I took the F2EL. I had drown the prior lower channel in 1 single channel and it didn't have a new low after it broke so I was constantly looking for the pattern to show. To me appeared very clear at 8.50. F2EL with great tier 1 signal bar (my bearish bar also closed below EMA). Also all the channel up had a new high so, of course, I took it. I was very confident and market chopped me!! :( . And I was very patient throughout the day. :(

Always much love and thank you ❤️

[ethanbone]

Been trading NQ almost exclusively the last week or two, ES just hasn't quite been there for me in terms of the volume and volatility for a while now. Thanks for the awesome video TW!

[bgwlly]

Always appreciate your vids Thomas. I got slaughtered this day. What would prevent you from drawing a wider downtrend from around 9:43-10:35? I was thinking a possible wider overall range day with a potentially broader leg back down towards the overnight lows since prices came off the overnight highs.

[casualverse]

Hey Thomas do you have any videos going over invalidating? And when you look to get out of a trade or trailing stops?

Also I saw you go for 10 ticks in your description I take it your price action strategy works for any time-frame doesn't it? Can you give some details on that?

Also lastly lol do you only trade futures? I want to know is there a specific dollar amount and what kind of liquid market do you need, like if it's a penny stock would this still work there or do you need bigger established assets like futures.

[JOhnnnnny]

at 6:17 would you have taken the 2es? It looks like a first entry but there was a hidden second entry. Broke below formed first entry went back and created a new high and then broke down again all within that 1 bar

[sachinmalik]

Hello sir.. I am from India. I trade in Indian Index like Bank Nifty, Nifty. Could you please guide me on which platform i can get Tick Charts for indian Markets

[metamoonnn]

completely lost patience today... threw out a feeler trade, lost. then downhill from there :(