IMPORTANT Price Action Candlestick Fundamentals For Day Trading
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- Опубликовано: 8 фев 2025
- 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
Two Legged Master Setup - rb.gy/x6vq
Money Management Rules - rb.gy/lnce
How to Find the Best Chart - rb.gy/h0m3nw
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Date January 31 2025
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.
6:30 I drew my channel as spike and a channel and took the double trap. The downtrend was just so significant and even though the day was already super bullish, I trusted the trendline and took the DT.
this stuff is so hard to comprehend as a novice that cant commit fulltime but thank you for providing the lessons i will continue to support the channel this is great!
Its normal to get confused as a novice. But it really is not that hard. Once you get some experience, all rules repeat all the time and you know exactly what to expect in the future. Give it some time and you will see that it will be much easier to comprehend.
@@ThomasWade Thomas you're such a golden retriever of a human being. You're a role model and I hope to trade as well as you one day. Thank you for everything that you do for the community!
Thanks Thomas! Took the double trap short local setup, it looked very tempting live, but looking back it is quite more aggressive. Glad to make 3 points on it.
Thanks Thomas. Crazy day as it all unfolded.
Thanks Thomas. I’m getting a better understanding of the LH and HL
Thanks Thomas
thomas did you ever backtest these price action rules on the gold market? do you get opportunities for 2nd entries there? and which timeframe would you recommend?
Follow me on twitter. I post there.
this king of brother have a knowlegde !!!!
Thanks Thomas. God bless you always 🙏
Dear Thomas,
I have been following your analysis for long time and very like the method you are using but I still do not understand exactly what you mean about "double trap" (maybe it is from my horrible english skills..)
Would it be possible to create a tutorial / presentation video where you define the principles what considered to be trap and how it can be recognized?
Greetings from Hungary!
Double trap is a with trend entry that forms when you expect 2nd entry at the EMA but something is wrong with the second entry.
For example there is congestion, bad signal bar, stt in play etc.
So double trap is 3rd entry with the trend but it must close above EMA in uptrend and below EMA in downtrend.
Hi Thomas, thanks for the video.
- I have read in several forums that your trading style is very similar to Al Brooks’s. Is it correct? Have you been inspired by Brooks’s style?
- If not: which do you consider your main differences, between your trading style and Brooks’s?
Cheers.
I learned from Al Brooks way back in the day when I started trading but my style is different. My style is more similar to Mack from Pats trading.
@@ThomasWade Hi Thomas. Thanks for your answer! Indeed, I realized that you both have very similar trading styles (2000 ticks). Al, is more based in time based bars. I mainly ask you this question, because even the 1m chart, looks very different from the 2000 tick chart in the RTH. I guess it’s quite difficult to catch 8 ticks in such a fast paced chart, with the right money management, getting filled at the right price with a technical SL correctly located.
Are you trading with a fixed SL and same number of contracts on each trade to respect a 2% money management rule?
If you start to seek for the last HL and measure the points, I suppose that there’s no time enough to place the order correctly within 10 seconds, once you get a signal bar.
How do you deal with this 3 variables (SL, contracts and speed)?
@ Yes SL is fixed. Always 1 tick below/above the signal bar.
I wouldn't agree that there is not enough time.
You have plenty of time to place trades even on 2k tick charts, you just need to pay attention to the chart. Swing trading is bit different from scalp trading.
@@ThomasWade Hi Thomas! Many thanks for your answer.
It’s true. Scalping and Swing Trading are very different trading styles.
What I mean with “Fixed SL” is that the number of points depends on the size of the signal bar, slippage and the scalper’s reaction time. Thus, in some trades, the SL would be some ticks below the entry price (one tick below the signal bar) and other times, it might be bigger and therefore, the trade size should be smaller. Just matter of semantics.
In any case, your videos are great!
Cheers.
Hello thank you so much for the amazing content as always, can you make a video explaining double traps and LH/HL confirmations ?
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.
Double trap is a with trend entry that forms when you expect 2nd entry at the EMA but something is wrong with the second entry.
For example there is congestion, bad signal bar, stt in play etc.
So double trap is 3rd entry with the trend but it must close above EMA in uptrend and below EMA in downtrend.
@@ThomasWade this is amazing, thank you so much it means a lot, you are the best
Please Provide pinescript of this set up bro u r analysis is superb 😊
I don't have a script though.
Thanks Thomas ✌️
Thanks
0.50 here after break of the up trend could we enter the 2EL F2ES that happened just after if we had better bar ?
hello thomas can you tell me how do i create a live account on ninja trader and what broker should i use
Ninjatrader broker. They have tutorials on everything.
Or you can use prop firm account.
@@ThomasWade okay thanks i will check on them
8:57 This whole move is one leg. Don't count little ticks lower as entries. 9:21 This is your true 2ES. Watch how prices keep ripping lower and quickly make a second major leg down.
11:55 good spot to take a long. Wider DT now has 2 measured legs down after trend break and you are getting a good reaction off the measured move level with plenty of room to EMA.
12:24 Immediately then get 2 measured legs back up with good bearish signal bar, great short.
No other good trades rest of the day.
I can't help but think what if I bought a contract at market open and just let it run wouldn't it be 50/50 chance for huge profit?
finally video
Thanks Thomas. I’m getting a better understanding of the LH and HL
Thanks Thomas.