Reading A Price Chart Bar by Bar | Price Action Strategy

[@AnkitSharma-gf1sh]

Best mentor in the world for me

[@calcio-mi7xz]

I know it's been said here a million times already but your videos are incredible. You have a talent for teaching!

[@gaurhavgambhir5764]

The way u have explained in this video candle by candle is just commendable , out of the total 40 videos watched in the playlist , this is one is Just a level above , thank you

[@johnys99]

Hi Thomas, really enjoyed the bar by bar break down, this is far more useful than just talking through the trades after the fact. Perhaps you could do one of these bar by bar videos every Friday? Cheers

[@LitoTho]

Yes omg!! This was beyond helpful I would love more of these as well.🙏🏽🙏🏽

[@hardikpanchal7676]

+1

[@yur.vsaibo9187]

Great idea.

[@ThomasWade]

I will do it more. But bear in mind this Friday was extremely slow and the video is over 20 minutes long. If we get low volume bar by bar is great but as soon as volatility picks up doing bar by bar for 800 candles can take up to hour... :) Fridays seem to be slow on general so bar by bar should be doable.

[@Metodo3]

why i like your channel? let me be a little clear, im a current student of MAC but i fully understand mac all these years teaching and doing the same thing over and over again is really exausting, sometimes i feel that mack just want to do a quick lesson of the day go through a couple of trades but hes explanation goes over all the trading day and i feel hes a little tired trying to go over and over the same i still believe MAC is the GOAT indisputably, but i really want to thank your time and your channel thomas because your are like MAC 7 years ago, great and fresh explanation of the trades i am really improving my trading because of your channel congratulations and again thankyou for all your time really enjoy this kind of videos.

[@ThomasWade]

Thanks. I think you are spot on. Mack is a genius trader, truly a great one but he has been making these videos for 10 years so it is only natural that he will burn out a bit. Nevertheless I still think he is a must watch, even though the videos are dry sometimes.

[@graerindley6312]

Probably the best intraday trading training video I've ever seen.😀

[@MR-rh7li]

Thomas, your way of explaining things is so helpful. It makes it absolutely possible to verify my own activities on that day and to work out my deficits exactly. Today it was the lack of market context that led to a small series of losing trades. With the help of this step by step explanation, it was immediately clear to me why the trades ended in the SL. This kind of help is just invaluable. Many thanks for it. Michael

[@jktrader37]

Thomas, this is the best Price Action analysis I haver ever seen.. WELL DONE ! Thanks so much !

[@majordave4789]

Bar by bar thoughts are so helpful to see how a profitable trader thinks, my favorite kind of video, thankyou Thomas.

[@richterbelmont9751]

I was sitting on my hands throughout this video, but it was so helpful that I must say thanks. It is exactly what i needed to understand this day. thanks for your time, continue doing the bar by bar explanation (not all the time, but some times), is useful for everybody.

[@mauriceamaraggi8098]

Excellent. Are you trading indices? Futur? Cfd? How many ticks or minutes?

[@ThomasWade]

I am trading Futures, ES. 2000 tick chart. 1-5 minute are also good.

[@garysmith-v4l]

I must say so far this is my favourite vid so far. Im a total novice and they way you broke it down bar by bar and how you moved along was perfect. Im hoping you'll do this more often. Cheers Thomas

[@kimdang2120]

Hello, Thomas. I watched many videos but I still not get 100% content. Can you clarify that I am understand correctly? If stock is up trend, we will wait until there is some red pull back candles, then look for 1 green candle close above the previous red candle to confirm that is 1EL. Is it correct? Thank you

[@ThomasWade]

Almost close but not really. We need to see break above the BULLISH bar. We don't care about break above bearish bar. Of course we count that as entry too, but we cannot actually buy there, we need to buy above bullish bar.

[@kimdang2120]

@@ThomasWade thank you for your reply. I appreciate it a lot. Do you have anyway that I can send the chart picture to you ( after I analyzed it) , you can help me clear it. Thank you very much.

[@qa9777]

Thomas does this 2000 tick bar time frame & price action strategy work on penny stocks/small caps or just big caps?

[@ThomasWade]

I am not sure about penny stocks. You need to make sure the market you are trading is liquid. Price action is universal and if you for example check daily apple stock you see it working but I have never tried penny stocks. Would recommend futures.

[@jorgellopis6161]

I've been watching trading videos for a really long time. Yours are the BEST. In my opinion, even better than Al Brooks, because you are really easy to understand. And btw, this format of analysis (bar by bar) is awesome (recorded trading video can be boring to watch)

[@Surfgarage760]

Thanks, i know Mac is the master of this and I've watched him for a long time and bought his manual, but I'm progressing better with my trading with your videos. You have better explanations than him. Keep up the good work! I was patient all day and finally found a nice lower high for a short around 1PM EST just after your video ended.

[@Intoxikate]

Truly great insight Thomas! You're by far my favorite KZbinr for ES breakdown! Thank you and please keep it up!!

[@Mr11thhour]

Hi Thomas. Please do a video to explain why a first entry is unreliable. There seem to be so many first entries that do work hence my question. Also wanted to know which trade management software you are using to take trades?

[@ThomasWade]

I am using ninjatrader. There are lot of first entries that work but there are also lot of first entries that fail. It is not reliable way to trade, especially when you trade live. You can try taking first entries and you may find out it is not worth it. Second entry is just the better setup because it indicates the correction played out.

[@sanjayajena6711]

Thanks Thomas I have completed Al brooks all three books but still I am struggling with my discipline. Your analysis was clearly understandable too

[@ThomasWade]

You have great sources for learning, now it takes time to get experience. Check out Pats trading on youtube aswell.

[@amarawuchikizito634]

What are the names of the books please?

[@bpiedfort]

Terrific video - thank you for sharing your time and experience with us; so helpful!

[@sandytaunk]

I am back on track Sensei , I don't know if you remember but I mailed you that I messed up all your teachings in my mind , I took a break from learning for couple of days , and it all started coming back. Thank you 😊

[@Ace-is7ww]

hi Im new to trading. are you using the 1 min tiemframe in your videos? Thank you

[@ThomasWade]

I am using 2000 tick chart. Similar to 1-5 minute charts.

[@Frdthn77]

Thanks Thomas for this video. Have a nice weekend

[@jaystanio]

Very helpful bar by bar analysis like others said. I like how you drill on the key entry points, 2nd entries, failures, trends that play out, and taking trades while minding which side of the EMA the price is at. At least, that's what I get out of most of your videos. I know there's others that teach this, but your videos are short and clear enough to constantly remind me of the important points in price action. Almost like flash cards lol... Thanks for your content

[@ThomasWade]

Exactly, even though sometimes I feel I keep repeating myself, it is very important because our minds keep tricking us into taking wrong trades.

[@wkowalski]

Do you have your rules for when to enter written down anywhere? I'm following along and starting to get it but I feel like there are a lot of conditions and it's hard to remember them.

[@ThomasWade]

I have a scalping money management video in beginner playlist. The stop loss goes always 1 tick above/below the signal bar and I scalp for 8-10 ticks. You can see my live trading videos to see how I manage trades.

[@brandonbarker955]

Hi thomas, do you have any paid community groups where you share charts and insights?

[@ThomasWade]

You can email me to [e-mail]

[@mighty2377]

when you have to reset the counting ? new high and new low, double bottom double top? am i right ?

[@ThomasWade]

Correct.

[@masonklein8914]

love the bar by bar breakdown!

[@AveryBlueRemix]

So what are you referring too when you say you "scalp out" of a position? Are you partially closing your position to cover potential loses and then letting the other part go to capture profit?

[@ThomasWade]

You can see in my LIVE videos. I scalp most of my contracnts, small portion 8-10 ticks and I leave the rest as a runner. I swing it in case market does something unexpected and I don't want to leave money on the table.

[@s08tank]

This is a great analysis of Friday's market. I gather good price action trading knowledge from Thomas. Thank you for doing these Videos. Regards - John

[@jghomehandyman3685]

Excellent video. Thanks for taking the time to go bar by bar.

[@kaustubhkadu4327]

Thomas, what if the second entry makes double top or bottom?

[@ThomasWade]

I don't think anything changes. Still can be considered second entry. If it is at the key entry point it is considered as an attempt for a new extreme.

[@picklejuice3508]

Hi Thomas! At around 4:38 “u said the downtrend played out”, why does it matter a downtrend played out in an uptrend?

[@ThomasWade]

It was just a reminder that there is no bearish bias and previous downtrend is over so we can focus on current uptrend.

[@mumutrades]

Thanks for the great vid!! Exactly what I needed 👍👍

[@CristianFreire-h2g]

Thank you Thom, you´re a genius!

[@Roy-xe9is]

The new high at around 10 minutes into video confirming the trend has played out, you say you are looking for a reversal pattern from the upside. So, since we are thinking short now, you would not go back to the prior low and look for a 2ES? Thanks for this amazing tutorials.

[@ThomasWade]

Interesting thought. I wouldn't though. I would first look for failed 2EL counting from the highs and then when price pushes below EMA I would look for 2ES. In that downtrend. But the situation we are talking about we would count 2ES still from the uptrend(the leg to a new high) and at that point we should not be looking for short yet. Hope it is clear

[@Roy-xe9is]

@@ThomasWade Yes sir Thank you. Have you done a video on hidden 2 entries? For some reason they are this mysterious black hole in PATS, yet they are constantly in play, and therefor, not really hidden. No one as of yet has been able to give concise chart examples on this. Thanks again for this page. I find your videos the most accurate in all the PATS world.

[@ThomasWade]

@@Roy-xe9is Yes actually I made a video about hidden entries. It is called understanding hidden moves. I would not be too worried about second entry unless you are already profitable. Because they are not as common and their importance is small. It is just not worth it to add one more variable you have to look for. Also only focus on hidden moves when we are at the key entry point or we are taking high probability setups.

[@Roy-xe9is]

@@ThomasWade Will do. Thank you sir.

[@johngaspar1039]

M win rate getting better thanks to you... I traded in that late congestion foolishly and got punished!

[@ThomasWade]

That late congestion was really sketchy. Good job on improving. It only gets better with experience.

[@dlombard]

Yes, very useful! Thanks!

[@kenneththomsen8984]

Thanks Thomas, super helpful video!

[@yur.vsaibo9187]

17m35s. What does it mean that there will be expanded settings soon ?

[@ThomasWade]

It says - advanced setup soon. The bar I marked with green arrow long is advanced setup.

[@yur.vsaibo9187]

Great video. Record such videos when you have time. Thank you, Thomas.Fellow traders do not forget to support Thomas with likes and comments.

[@ThomasWade]

:D 🙏

[@selimarditi3420]

I wonder where do you set your stopp losses?

[@ThomasWade]

Stop loss is always one tick below or above the signal bar. Depends if you long or short.

[@yur.vsaibo9187]

Great video friend

[@dailynasdaq1464]

Excellent video! Thanks

[@wernerherrmann]

Great video, but still goes whoosh over my head.

[@steventhompson3679]

I really appreciate your videos.

[@yur.vsaibo9187]

It is not quite clear to me when we consider the maximum or minimum to be the first unsuccessful attempt. Although the maximum (minimum) is not considered the first attempt for us. When can we consider the maximum or minimum of the first unsuccessful attempt, and when is it just a reference point from which we will look for the first and second attempts???? I hope my point of view is clear. If everything is clear, then record a video on this topic.

[@ThomasWade]

I am afraid I don't understand what you have in mind.

[@rubenjuarez9713]

Thank youThomas

[@muthukumarmuthukumar414]

Very very worthy context bro love from ❤

[@j7bsecond540]

Thank you for this

[@Bospar01]

This was a great lesson, thanks.

[@shaileshkambli9607]

Sir please explain time fram for intra day trading

[@ThomasWade]

Time frame is 2000 tick chart.

[@zipodipo7923]

Thomas I think the market's going more sideways than up. Just whip out the bollinger bands and...need I say more ?

[@ThomasWade]

Bollinger bands will not work over long period of time. Plus if you learn to read the price action you won't need any indicators. The price will tell you everything you need to know.

[@erikcortez9398]

Thank you Thomas!

[@yur.vsaibo9187]

The 8m-40s deal is the second entry into the long. But the price goes lower and we get a stop why is it not a trap/

[@ThomasWade]

I explained it in the video. The reason why we don't consider this a trap because we still wait for a new high of the uptrend. Not that many people are going to go short if we still wait for a new high. Hope that helps

[@yur.vsaibo9187]

@@ThomasWade clear

[@user-zr6dn2bo8g]

Sería genial este contenido en español.

[@rezasaljooghi9650]

nice.tnx

[@randyliz3325]

R U ON 4 HOURS CHART ?

[@ThomasWade]

Nono, just 2000 tick chart and 5 minute chart as a supportive chart.