Key Entry Point Setup Model - LIVE Price Action

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
Instagram - / realthomaswade
Twitter - / iamthomaswade
Facebook - / wadetradingacademy
Date April 12 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.

[@darylbaptie5159]

Thanks as always Thomas! I sized down to one micro contract as I felt that I was trading scared with larger size, so far it's working well following the price action rules. Have a nice weekend!

[@Archer441]

Thank you. 1-0 today. Took first F2EL No fill on a perfect 2ES.

[@suecrewstudio8994]

I made 2-0 in MNQ with this strategy, very thanks 🎉🎉

[@K2_905]

great live example as always Thomas.

[@huytruong7370]

I saw that 2ES but because I thought the channel had an overshoot so I didn't take it. I didn't see the bigger downtrend channel and only drew it after that 2ES occured. Really pissed me off I missed that trade.

[@michaelf3653]

You made your read and skipped a trade that didn't fit - thats a GOOD thing. As your chart reading skills improve you'll identify more trades - but being able to wait for a setup that fits your analysis is the more important skill - keep doing that.

[@ThomasWade]

The way how the 2ES formed, when the main trend held, can be considered even with OS but don't worry. It was hard to catch. I placed my limit quickly and still no fill. Most traders who got it mostly had to use sell stop.

[@loganreed270]

I've been watching your videos Thomas for about 8 months now and I'm finally seeing the light at the end of the tunnel. I know I'm still super new and have a long way to go but I truly believe trading is going to change my life and those around me. Thanks for all the great videos. 1-0 today.

[@ThomasWade]

Trading is a skill like anything else and I always say the first year is the hardest. During your first year it feels like you are always on the other side of the trade and feels like you should do the opposite. That is all normal because trading goes against common sense. After first year things are starting to click slowly. Looks like you are hitting that mark right now. That is a good sign but don't forget. Trading is also mental so you need to keep working on your mindset as well. Good luck.

[@east2west2east]

These candlestick's look like text book trade examples perfect pullback and and trend continuation. In Nifty 50(Indian market) this doesn't even happen these days.

[@ThomasWade]

Indian markets may not be as liquid. You cannot trade US markets?

[@ik-gt4ir]

Hey Thomas. The body of the signalbar was 5 ticks away from the ema. Last time it was like that, you said the body is too far away. So it depends on the kontext, if the body is too far away from the ema? Thanks

[@ThomasWade]

Context is important yes. Here if you look to the left, there was massive bearish push down. Once the uptrend failed to get a retest, the main bias took over and we are heading lower. Also what was good about that setup is how fast it reversed bearish, there was strong momentum. No problem if you waited, it was more experience based setup.

[@atrading6339]

Do you get your data from Apex? My signal bars are horrible in comparison for those first two setups.

[@ishaq9939]

Apex doesn't supply data. Its Rithmic that does. Anyhow, the data for tick chart changes between providers. Strategy still works the same, just use the chart you have

[@ThomasWade]

It is completely normal for signal bars to differ sometimes on tick charts. Many factors, data provider, historical data, timezone etc.. Make sure to load 21 days for example and reaload historical data before each trading session. No problem because it all evens out in the end. Sometimes I get better bar sometimes you get better bars.

[@atrading6339]

@@ishaq9939 I said Apex because the connection on Rithmic is to the Apex specific server now.

[@thegamerboneless2864]

Hey love your content, have been picking up great tips thank you. My question, what Tick chart are you using?? Looks like 133 but can be shorter. Can you let me know which tick count so I can match while watching your content plz. ❤ I see it says 2000

[@ThomasWade]

I use 2000 tick chart.

[@AlexLopez-vt4fl]

Thanks Thomas. Do you trade full time and make a living off of this? That’s my goal 🙏🏼

[@ThomasWade]

Yes, full time.

[@amitgupta-vy3ct]

Hi Thomas , could you please help me understand. Usually when there is a strong downtrend you first wait for break and new low before you start looking to go long. But here when the video started, you have marked a very strong downtrend channel but it never really formed a new low. And I see as the video starts you never really said that you will first expect a new low. Since this has become an important rule for me too, just want to know your thought process that why you instantly started marking the wider long channel and why did you not wait for new low first, or say what made you not wait for the new low

[@ThomasWade]

It is likely there was already small break and new low. I just hadn't tightened my channel enough.

[@amitgupta-vy3ct]

@@ThomasWade Got it. Was thinking on similar lines too. Thanks a lot for the clarification

[@amitgupta-vy3ct]

Hi Thomas, Just wanted to know your view that when did you really stopped looking for a new low. From where the video started - the down trend was really strong and it did not create a new low. So when did you really made up your mind that you are no longer going to look for a new low ?

[@amitgupta-vy3ct]

@Thomas wade, could you please help me understand. Usually when there is a strong downtrend you first wait for break and new low before you start looking to go long. But here when the video started, you have marked a very strong downtrend channel but it never really formed a new low. And I see as the video starts you never really said that you will first expect a new low. Since this has become an important rule for me too, just want to know your thought process that why you instantly started marking the wider long channel and why did you not wait for new low first, or say what made you not wait for the new low

[@user-xo3ru1wf7s]

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