Excellent summary of what it means to be a trader. It's not about trying to predict what the market will do next, or trying to enter every little market move. It's about knowing what you're setups look like, where to look for them, and letting the market unfold without you until the situation is right.
I wish I had this advice earlier! But maybe every trader has to go through all the phases from indicator mania to frustration to eventually find and believe the things you are explaining. Great stuff!
Let me just post this comment here so that I can always come back and watch the wisdom being shared. Thank you for sharing such life changing information.
Wow, probably one of the best explanations and teaching I have watched. As a beginner I can take what I learned from this and just go and look at charts and see if I recognize what is being taught. Thanks Mr. Wade
I have watched and followed so many "gurus' but this is the first that has clearly explained the concept. I was watching this video just now as I was also trading Nasdaq mini. This exact set up was occurring off peak during the Tokyo session while I was watching this guide. The chart was instantly much clearer as I drew trend lines the same was as you were describing. I bagged $346USD. First time I actually felt confident in my entry. I added your 14 period EMA and saw it in a much clearer way than before. Only other thing I have on my chart is a TSR set at 40 which also adds clarity for me, otherwise, nothing else. I'm now subscribed and will watch all of your stuff. So cool - thank you man.
Im Asian so i played it 0.75x slower for a better understanding haha. Thank you so much sir for this valuable and priceless knowledge you are sharing in youtube.
Hey Thomas, I want to thank you for creating these videos. It's crazy to think that when I discovered trading, I had no idea what I was doing. Indicators worked for a while, however, I was not consistent. I'm sure I can speak for a a lot of people. I stumbled upon your videos one day while trying to find "the best scalping strategy". BS. I am beyond grateful that you exist. Ever since watching your bar by bar by accident, I have completely changed my life around. I think it's funny that when I'm trading, I imagine I'm you! And, wow, what a change I have experienced. Really, thank you so much. You are changing lives. I'm sure of it.
Hi Andres, thank you for those words. I am glad you are finding value here. Funny enough I was the same way. Also started with indicators first but once I discovered price action, a complete game changer.
Thomas, you are doing a absolutely amazing job. I definitly like your Price Action trading approch. Thank you and take care 😀 + Greatings from switzerland.
Thanks man it cleared a lot of concepts i am new and i have been to a fase where indicators made me confused and made me paralyzed and thanks to you i have been experimenting with pure price action after watching your video and surprisingly it works its like you are communicating with the chart when your in the zone.
at 7:57 you mentioned that this candle is 2el but in the video of how to count the entries you explained the 2EL is it must broke 1 tick higher than the candle before it but here it doesn't tick, can you explain please. thank you for your work
Dont know where to start,this help me so so much ,god bless you, If you come to ha noi, vietnam im so happy to have a dinner with you Sorry for my english
Hello, I would like to ask if you think it is possible to use this staretegy for longer term trading. For example, after identifying the second entry long at 7:15, could we then continue to adjust our stop loss after seeing price rise and ride the devloping trend?
You can but you need to adjust your money management. Also when trading more long term, you need to be buying lower and selling higher. As a scalper you can afford to enter late because you are looking for small scalp but long term you need to have some room.
Hi, it is not important for the green bar to break the high of the previous bar. What is important is that the green bar(signal bar for 2EL) gets the trigger above its high. So we look for break above the signal bar. The signal bar alone doesn't need to break above the prior bar. Hope that makes sense.
@@ThomasWade Hey thanks for the reply, but i am not 100 clear with you answer. Can we say for 2EL the candle bar should be green and it will not matter if it does not break the high of prev. Candle. Inshort for 2EL we only need green bar? Your response will be appreciated.
@@yashgoel5315 We want to buy only above bullish bar, but technically 2EL may trigger even above bearish bar. It doesn't matter if the bar for 2EL triggers above previous bar high. Important is the signal bar having break above. In beginner playlist I have a video about how to count entries. It should clear things up.
Thank you so much. This is one of the best trading videos that I ever watch. This would be the foundation of the price action trading for me. Thank you thank you for teaching.
basicly when you have a support and a resistance level you buy the dip up to resistance the up retrace on the sell to support but great infoon price action
Amazing results. But, what kind of perverted mind could’ve come up with all these confusing, twisted concepts. I can’t wrap my head around all of these!
SO TRUE!! Newton once said "If I have seen further, it is by standing on the shoulders of giants." I work with a CFA and CFP; Christine Marie. Mila, her advice and comprehensive analysis has been responsible for making me good sums. Over the years, her thought process is a distinctive quality I’ve come to find valuable.
Because the downtrend played out, followed by a very strong push above the EMA, EMA holding which is confirming buyers in the market and the bullish spike, trend needs a new high. Since the structure overall was range, we were bouncing off the lows. You would possibly think about prices heading lower if EMA held during the pullback. It didn't.
1-5 min timeframes are good. Personally I am not a fan of forex but you can see price action still working well there. Especially if you trade New York session.
No hype, realistic and practical. Really enjoy your content. One request, if possible - PLEASE slow down your narration and keep the jargon down to a minimum. Shotgunning coined terms detract from the value of your approach.
@ThomasWade In this video you are saying 2EL before the next candle is higher. I think I am missing how the 2nd entry is known and which one is the signal bar and what is the setup bar. I thought the 2ns entry had to have the next candle go higher and that is the bar you use to trigger your trade.
Hi, 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 when there is something wrong with the first 2nd entry you would normally take. For example it is far from the EMA, congested, trendline in play etc. But the bias is still in favour of the 2nd entry. That means failed 2nd entry is a trap because it is against the trend. So double trap is basically 3rd entry with trend but needs to close with the EMA.
I have two main videos about second entries. ua-cam.com/video/NNzCegosXu8/v-deo.html&ab_channel=ThomasWade ua-cam.com/video/GrRbOItgLgc/v-deo.html&ab_channel=ThomasWade Failed second entries ua-cam.com/video/s2ivxFOJl0U/v-deo.html&ab_channel=ThomasWade ua-cam.com/video/gXRXmxEcRx4/v-deo.html&ab_channel=ThomasWade
Hello Thomas, witch videos best determine the actual candle reading, I remember viewing them but can’t find them now.first entry second entry. I need to refresh , rewatch candle fundamentals. Love your videos but there is much to take in. I’m getting better, had a red day so I need to refresh. Thanks so much for what you do. Would not be still doing this if not for you, so thanks again…Jim
Hello Jim, I would recommend going through the most popular videos in the beginner playlist. There is a video how to count entries and Two legged pullback explained. I would also recommend the only price action setup video. Overall you can go through the beginner playlist videos and see which one covers the topic you want to see.
Yes you can, price action is universal. You just have to adjust your money management to each market and whether you like scalping or swing trading. Every market has its own personality and tendencies, this is why I like to stick to ES because I know it very well.
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.
I started investing when I was 27, mostly through sweat equity. I just turned 32 and this last month was the first time that my passive income broke $100k for the month. This is solid advice! DO IT! You don’t have to get rich quick, you just have to get RICH no matter what. 👍🏼
@davidromain6232Not at all Having monitored my portfolio performance which has made a jaw dropping $473k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently
@larrybrenda8387 The adviser I'm in touch with is "Jayden Nadav Bishopson" . He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me her strategy works hence my result. She provides entry and exit point for the securities I focus on
Thanks for this tip. Her website popped up on the first page immediately I searched her name on google web, I read through her resume and it seems pretty tight. So, I dropped a message & hopefully she replies soon
I would not recommend trading crypto. It is not regulated, the exchanges are not regulated, too many volatile price spikes etc. There are safer and better instruments.
Absolutely amazing video, Thomas. What a fantastic content to begin the year with. Happy New Year, and may this year be filled with prosperity and health to you and your loved ones! Take care
Hi thomas! INCREDIBLE video as always! I do not understand the concept of HL confirmation! can you help me understand? Have you already mentioned this in any video?
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.
2EL signal bar doesn't have to close higher than the prior bar. What is important is the trigger above the signal bar for 2EL. That is all what we care about and where the count is in effect.
Just to clarify for myself, the 2EL bar would be a signal bar. So we would not enter a position from that candle, we'd have to wait for the next candle (trigger candle) to take out the signal bar's top before entering? Thanks
@@ThomasWade A follow up question, if I may. How do you know it's a signal bar before the trigger bar prints? Does it simply have to be a bullish looking bar?
@@VileStail Signal bar is the lowest point in the swing when buying and highest point in the swing when selling. Since you already had first entry that failed, you are just monitoring when the second entry will trigger. It doesn't have to be bullish bar, sometimes signal bar for 2EL is bearish bar.
Do you have some video explaining basic concepts like breakouts, entry points, trendline, etc? I don't know what those are, or at least how to measure them
I am having difficulty to compare the first candle to the next candle for finding first entry shorts or longs, what I am finding difficult is that whether we have to see the top of the candle or bottom of the candle while counting longs and shorts?
Excellent summary of what it means to be a trader. It's not about trying to predict what the market will do next, or trying to enter every little market move. It's about knowing what you're setups look like, where to look for them, and letting the market unfold without you until the situation is right.
Getting Al Brooks Vibes here for sure...
Great Video sir.
I wish I had this advice earlier! But maybe every trader has to go through all the phases from indicator mania to frustration to eventually find and believe the things you are explaining. Great stuff!
A lot of psychological nuggets in this video on top of a solid overview. Really enjoyed it! Thanks Thomas!
Happy New Year!
Let me just post this comment here so that I can always come back and watch the wisdom being shared. Thank you for sharing such life changing information.
Wow, probably one of the best explanations and teaching I have watched. As a beginner I can take what I learned from this and just go and look at charts and see if I recognize what is being taught. Thanks Mr. Wade
I have watched and followed so many "gurus' but this is the first that has clearly explained the concept. I was watching this video just now as I was also trading Nasdaq mini. This exact set up was occurring off peak during the Tokyo session while I was watching this guide. The chart was instantly much clearer as I drew trend lines the same was as you were describing. I bagged $346USD. First time I actually felt confident in my entry. I added your 14 period EMA and saw it in a much clearer way than before. Only other thing I have on my chart is a TSR set at 40 which also adds clarity for me, otherwise, nothing else. I'm now subscribed and will watch all of your stuff. So cool - thank you man.
Good job! I actually use 21 bar EMA. 14 is decent too but doesn't filter setups that need to pullback that well. Try looking into 21 bar EMA too.
I haven't seen this kind of excelent video on UA-cam for quite long time. No bullshit just got to the point.
Im Asian so i played it 0.75x slower for a better understanding haha. Thank you so much sir for this valuable and priceless knowledge you are sharing in youtube.
Excellent video! Every single point you made during the section on the Trading Plan is something I have personally experienced myself. So spot on!
Looking to possibly get into trading and this beginner's playlist will be incredibly valuable. Thank you for amazing information.
One of the best video on price action and also very comprehensive, thankyou
Best video you have done. Thank you for all your help.
Thomas, superb video. Thank you and Happy New Year.
Great lecture Thomas!! Thanks and all the best wishes for 2023!!
Hey Thomas,
I want to thank you for creating these videos. It's crazy to think that when I discovered trading, I had no idea what I was doing. Indicators worked for a while, however, I was not consistent. I'm sure I can speak for a a lot of people. I stumbled upon your videos one day while trying to find "the best scalping strategy". BS. I am beyond grateful that you exist. Ever since watching your bar by bar by accident, I have completely changed my life around. I think it's funny that when I'm trading, I imagine I'm you! And, wow, what a change I have experienced. Really, thank you so much. You are changing lives. I'm sure of it.
Hi Andres, thank you for those words. I am glad you are finding value here. Funny enough I was the same way. Also started with indicators first but once I discovered price action, a complete game changer.
Very very good video Thomas
It is exactly what i needed goin into the new year.
Everything you said is 100%
Thank you.
Cheerz
Thomas, you are doing a absolutely amazing job. I definitly like your Price Action trading approch. Thank you and take care 😀
+ Greatings from switzerland.
Great video! Tried to absorb as much as I could from it. Thank you
Thanks man it cleared a lot of concepts i am new and i have been to a fase where indicators made me confused and made me paralyzed and thanks to you i have been experimenting with pure price action after watching your video and surprisingly it works its like you are communicating with the chart when your in the zone.
You are giving such incredible knowledge
Awesome video which demonstrates how big the mental game is which is often overlooked. Cheers once again Thomas.
Great presentation. Thank you Thomas for sharing this.
What a great video to start off the year 🚀..Happy New Year Thomas :)
at 7:57 you mentioned that this candle is 2el but in the video of how to count the entries you explained the 2EL is it must broke 1 tick higher than the candle before it but here it doesn't tick, can you explain please. thank you for your work
You don't need to have a trigger above previous bar. You want the 2EL signal bar itself to have break above ITS high.
I wish you all the best in new year, my brother! I have learned so much from you.
Dont know where to start,this help me so so much ,god bless you,
If you come to ha noi, vietnam im so happy to have a dinner with you
Sorry for my english
Thank you so much to share your knowledge.
GOD Bless you .
Hello,
I would like to ask if you think it is possible to use this staretegy for longer term trading. For example, after identifying the second entry long at 7:15, could we then continue to adjust our stop loss after seeing price rise and ride the devloping trend?
You can but you need to adjust your money management. Also when trading more long term, you need to be buying lower and selling higher. As a scalper you can afford to enter late because you are looking for small scalp but long term you need to have some room.
Please help me with this at 7:22 2EL how it was 2EL as the green candle never broke the high of prev. red candle ?
Hi, it is not important for the green bar to break the high of the previous bar. What is important is that the green bar(signal bar for 2EL) gets the trigger above its high.
So we look for break above the signal bar. The signal bar alone doesn't need to break above the prior bar.
Hope that makes sense.
@@ThomasWade Hey thanks for the reply, but i am not 100 clear with you answer. Can we say for 2EL the candle bar should be green and it will not matter if it does not break the high of prev. Candle. Inshort for 2EL we only need green bar? Your response will be appreciated.
@@yashgoel5315 We want to buy only above bullish bar, but technically 2EL may trigger even above bearish bar. It doesn't matter if the bar for 2EL triggers above previous bar high. Important is the signal bar having break above. In beginner playlist I have a video about how to count entries. It should clear things up.
Thank you so much. This is one of the best trading videos that I ever watch. This would be the foundation of the price action trading for me. Thank you thank you for teaching.
🙏
Thomas, at 11:37 mark, you mentioned that downtrend needs to play out what are you looking for it to play out ?
Thanks
Play out means get new extreme, new low. Attempt for new low can also be considered enough.
basicly when you have a support and a resistance level you buy the dip up to resistance the up retrace on the sell to support but great infoon price action
Top notch contend , thanks keep on teaching …subscribed and going to watch all vids
The year started profitably for me!, So far, my aggressive portfolio has returned almost
+$470k trading on the exchange market.
Great! I am up 35% YTD…
Amazing results. But,
what kind of perverted mind could’ve come up with all these confusing, twisted concepts. I can’t wrap my head around all of these!
‘Experience coupled with proper Risk management’ are the nuts and bolts of this industry I think.
SO TRUE!! Newton once said "If I have seen further, it is by standing on the shoulders of giants." I work with a CFA and CFP; Christine Marie. Mila, her advice and comprehensive analysis has been responsible for making me good sums. Over the years, her thought process is a distinctive quality I’ve come to find valuable.
It must be a game changer to have someone with real market experience providing you with rational moves in this industry that make no sense.
Thank you so much for your advice . I’ve still not gone live yet and I’m not in a hurry to do so
Brother thank you very much, you really changed my life.
Thomas is king 👑 thx a lot bro , you are changing lifes here !
Incredible video, thank you.
thanks for the efforts you take to teach us. Watching a video on this channel after a year
Excellent summary, truely good job!
7:11, is it second entry long ?because the green bar dint cross the previous high ? May be I’m misunsderstood .
Signal bar needs a break above its high. Doesn't have to break above previous bar.
tHANX THOMAS i saw your channel late but it is great to learn from you. You r explaning so well thank you one again for sharing knowledge.
5:48 could you help me understand why did go you go long? Why is it less probable that the market reverses and hit the lower resistance?
Because the downtrend played out, followed by a very strong push above the EMA, EMA holding which is confirming buyers in the market and the bullish spike, trend needs a new high. Since the structure overall was range, we were bouncing off the lows.
You would possibly think about prices heading lower if EMA held during the pullback. It didn't.
Please what time firm are you using for the strategy
2000 tick chart.
So glad I found this channel
hello thomas, i did not clearly understand the 1(one) indicator you mentioned at "play 12:35-40" on this vedio. what indicator is that please? 😊
21 bar exponential moving average. EMA
Thanku thmous watching from india 🇮🇳 kashmir
great talk at the end thank you
Thank you for this and good luck too.
Your knowledge sharing is very helpful ❤❤❤ from india....
Thomas will u recommend this strategies for gbpusd 1mint time frame please reply?
1-5 min timeframes are good. Personally I am not a fan of forex but you can see price action still working well there. Especially if you trade New York session.
No hype, realistic and practical. Really enjoy your content. One request, if possible - PLEASE slow down your narration and keep the jargon down to a minimum. Shotgunning coined terms detract from the value of your approach.
Thank you dear.
Hi Thomas
Can you please tell me for 5 mins timeframe which ema should I use 5ema or 9ema?
Bdw your content is amazing and provides great value to trader like us who are still learning so thank you so much for that 😊
21 bar EMA for all timeframes.
Thank u so much for this information❤❤
Thanks for the Video. Great.
@ThomasWade In this video you are saying 2EL before the next candle is higher. I think I am missing how the 2nd entry is known and which one is the signal bar and what is the setup bar. I thought the 2ns entry had to have the next candle go higher and that is the bar you use to trigger your trade.
Which timefreame and EMA to use?
I trade 2000 tick chart. Similar to 1 minute. 1-5 min are good timeframes. 21 bar EMA on all timeframes.
Thank you for this great content. ❣️🙏
What timeframe is used can you guide the same
I use 2000 tick chart. 1-5 min are also good. Price action is universal.
what EMA setting are you using?
I use 21 bar EMA.
For you for sharing, can you recommend a reading material to asist
What time frame do you do this on
I trade 2000 tick chart, similar to one minute chart.
@@ThomasWade ok thank you 🙏🏽
Have u released any book where u have documented all the ur video slide if yes please let us know
Unfortunately I haven't documented no book.
Hey Thomas. What exactly is a high low setup? I see you use it a lot but I don't know exactly what it is or what it looks like. Thank you!
Also, after a break of a channel, is it a good idea to place a trade to catch a move on the probable new extreme before reversal or no?
Hi,
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.
Hello...what is the time frame of each candle?
I trade personally 2000 tick chart. 1-5 min are also great.
noted....many thanks..By the way, will there be a big difference in the trading when using tick charts compared to time frame charts?@@ThomasWade
Now that we have programatic trading does this change the role of human psychology in this type of trading?
Any advice most welcome.
Not really. Think about it. Programs are still written and coded by humans. They are setting the parameters to it.
Haha man, this first minute of the video, so accurate!
thank you so much im just a bit confused about what it is a double trap ?
Double trap is when there is something wrong with the first 2nd entry you would normally take. For example it is far from the EMA, congested, trendline in play etc. But the bias is still in favour of the 2nd entry. That means failed 2nd entry is a trap because it is against the trend. So double trap is basically 3rd entry with trend but needs to close with the EMA.
Good Job Thomas help understand what you mean by Second entries & Failed Second entries
I have two main videos about second entries.
ua-cam.com/video/NNzCegosXu8/v-deo.html&ab_channel=ThomasWade
ua-cam.com/video/GrRbOItgLgc/v-deo.html&ab_channel=ThomasWade
Failed second entries
ua-cam.com/video/s2ivxFOJl0U/v-deo.html&ab_channel=ThomasWade
ua-cam.com/video/gXRXmxEcRx4/v-deo.html&ab_channel=ThomasWade
Can anyone tell me timeframe 2000 thick chart? 5 mnt/15 or 30?
2000 tick chart. Similar to 1 minute. PA is universal though.
Hello Thomas, witch videos best determine the actual candle reading, I remember viewing them but can’t find them now.first entry second entry. I need to refresh , rewatch candle fundamentals. Love your videos but there is much to take in. I’m getting better, had a red day so I need to refresh. Thanks so much for what you do. Would not be still doing this if not for you, so thanks again…Jim
Hello Jim,
I would recommend going through the most popular videos in the beginner playlist.
There is a video how to count entries and Two legged pullback explained. I would also recommend the only price action setup video.
Overall you can go through the beginner playlist videos and see which one covers the topic you want to see.
What's the setting of EMA ? Please tell me
21 EMA for all markets.
If I am a scalper and trading SPY, how do we understand bias pre-market?
What timeframe you are trading?
Hey excellent video subscribed, can you please tell me what EMA are you using and also the period, e.i. 3 months, 6 months etc, thanks.
I have the same question too! And how do you determine which EMA to use at different time frame chart please? Thank you.
21 EMA.
Thanks Thomas.
For signal Bar did you go over with Tier 1-4 is? i keep watching it again and missing it.
Hello Thomas, can we apply PA for trading in index or stock options
Yes you can, price action is universal. You just have to adjust your money management to each market and whether you like scalping or swing trading.
Every market has its own personality and tendencies, this is why I like to stick to ES because I know it very well.
@@ThomasWade Thankyou Thomas always, I will also focus on money management according to the market
On trading ES1 Min, why would I take a long position on the 3rd 2EL, wouldn’t it trigger SL where it breaks the trend line ?
where do I set my take profit/target, I'm confused about that
I have a video about money management but you can see my live trading examples to see how manage trades.
@@ThomasWade thank you
Do you have a video on how to trade hl and lh trades?
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.
Thanks for the comprehensive answer!
Hi Thom, On what time frame are you going to use to identify you are focus only long or short? Please advise.
I trade 2000 tick chart. Similar to 1 minute chart.
@@ThomasWade Would it work to 3 mins and 5 mins chart?
@@JH231995 Of course. Price action is universal.
@@ThomasWade Thank you for your response. Excellent applications.
Which timeframe do you use these setups? Is it 21 EMA?
21 bar EMA, I use 2000 tick chart. Similar to one minute.
Superb, thanks
I started investing when I was 27, mostly through sweat equity. I just turned 32 and this last month was the first time that my passive income broke $100k for the month. This is solid advice! DO IT!
You don’t have to get rich quick, you just have to get RICH no matter what. 👍🏼
@davidromain6232Not at all Having monitored my portfolio performance which has made a jaw dropping $473k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently
@larrybrenda8387 The adviser I'm in touch with is "Jayden Nadav Bishopson" . He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me her strategy works hence my result. She provides entry and exit point for the securities I focus on
Thanks for this tip. Her website popped up on the first page immediately I searched her name on google web, I read through her resume and it seems pretty tight. So, I dropped a message & hopefully she replies soon
Sir you should have 52.6 million subscriber. Just Amazing. Thanks a Lot. God Bless You Sir :)
❤
Does it work for crypto
Price action works in all markets however I cannot really vouch for crypto because I haven't traded it.
Sir, can i use this stategy on crypto market?
I would not recommend trading crypto. It is not regulated, the exchanges are not regulated, too many volatile price spikes etc. There are safer and better instruments.
@@ThomasWadecan you kindly list them?
@@kobbyscratch5799 Any stock that is liquid enough. Futures ES, NQ, CL for example
Absolutely amazing video, Thomas. What a fantastic content to begin the year with. Happy New Year, and may this year be filled with prosperity and health to you and your loved ones! Take care
Hi thomas! INCREDIBLE video as always! I do not understand the concept of HL confirmation! can you help me understand? Have you already mentioned this in any video?
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 Ok Thomas, clear explanation as always! I'll keep this kind of confirmation in mind! thank you!
At 7.11 you say it is a second entry long but I am confused; we are not going above the precedent bar.
2EL signal bar doesn't have to close higher than the prior bar. What is important is the trigger above the signal bar for 2EL. That is all what we care about and where the count is in effect.
Just to clarify for myself, the 2EL bar would be a signal bar. So we would not enter a position from that candle, we'd have to wait for the next candle (trigger candle) to take out the signal bar's top before entering? Thanks
Correct. Signal bar just signals possible 2EL. For this setup to trigger we need to see a break higher.
@@ThomasWade A follow up question, if I may. How do you know it's a signal bar before the trigger bar prints? Does it simply have to be a bullish looking bar?
@@VileStail Signal bar is the lowest point in the swing when buying and highest point in the swing when selling.
Since you already had first entry that failed, you are just monitoring when the second entry will trigger. It doesn't have to be bullish bar, sometimes signal bar for 2EL is bearish bar.
May I asked what time frame are in these charts
2000 tick chart. Similar to 1 minute chart.
It sounds like 2EL is the same as F2ES?
It is a long setup yes, but it is not the same setup. For 2EL you count from the highs, for F2ES you count from the lows for 2ES to fail.
Good Job Thomas!
What indicator did you say? 20 EMA?
21 bar EMA.
Hi I appreciate the video may I ask as I do not see it do you use L2 or purely the chart
He only uses charts, not level 2.
Do you have some video explaining basic concepts like breakouts, entry points, trendline, etc? I don't know what those are, or at least how to measure them
In the beginner playlist, the first several videos cover basics.
I am having difficulty to compare the first candle to the next candle for finding first entry shorts or longs, what I am finding difficult is that whether we have to see the top of the candle or bottom of the candle while counting longs and shorts?