CONFUSED WITH TRADING? WATCH THIS | Short-term Trendlines | Stock Market Technical Analysis

[@rubenjuarez9713]

Thank you Thomas

[@achilesachiles4433]

Great explanation of trendlines

[@sibonelelohlatshwayo7753]

I had a strategy for a long time but it was not consistantly profitable. But since i added this 2 legged pullback to it. Things changed. Thanx to u brother

[@Precept71]

Fantastic as always!!!

[@richardcrook892]

Great information Thomas. This is GOLD

[@kiritsuchak5320]

Superb video sir ! learn so much thanks🙏

[@sandytaunk]

Please do more of these kind of videos, thanks for the knowledge

[@spencerwinston4334]

Thomas, ty for the first class market surfboard lessons. Now hanging ten and "duck diving" while surfing the s.t. market waves like Laird Hamilton surfs the big blue waves in Hawaii. Perhaps add Tim Ord's volume energy rules at the market retests for clarity and conviction on the trades. Volume profile as well gives you bigger picture view of surf context and conditions before " diving into deep waters." Ty, for sharing your vast trading expertise with traders across the world on youtube. The truth shall set us all free on the market level ad well as higher spiritual planes.

[@zenoo514]

Thx Thomas

[@reebosaurus1539]

Thank you

[@SomeTrader74]

Retest of new extreme 🤑 noobs take notice.

[@NikosBalilis]

Can you suggest or tell us how to find the main bias?

[@ThomasWade]

Too complicated to answer in a comment. By watching my videos you will learn that.

[@NikosBalilis]

@@ThomasWade which videos exactly?

[@MervsServiceSecrets]

Great tutorial, but I find it very hard to draw the channels while bars are developing live. When you go back, as they say, hindsight is 20/20. But for example replaying Friday's 1m SPY chart from 9:40 AM ET, at what time would you have enough touch-points to draw an accurate downtrend?

[@ThomasWade]

I cannot say without seeing the chart. You can send it to me [e-mail] There are rules how to draw trendlines and it takes time to learn.

[@chilidog73]

Quick question which may seem a little basic but does the signal bar need to break the high if the previous bar (on 2el for example) or are you just waiting for a bar that is a good bullish bar that indicates it will continue in the up trend?

[@ThomasWade]

2EL signal bar doesn't have to break about previous bar. The 2EL signal bar itself needs to get break above its high. On community tab I made a post about weeks back.

[@AsiaStreet365]

Excellent video, this is 2023 and I have studied both Brooks and Mac. When you aim for 10 ticks profit and price does not get there when do stop the trade?

[@ThomasWade]

I don't move the stop in the middle of trade. I put it one tick above/below the signal bar and let the trade playout. It either wins or not.

[@AsiaStreet365]

@@ThomasWade Thank you

[@stuarthall2154]

just found you what a gem can i ask what charts do you go off is it the 5 min ????

[@ThomasWade]

2000 tick chart.

[@snaketrader]

Hello how you doing. Is this method works in the Nasdaq Futures? If so, could you recommend me what tick chart should I use? (Thanks)

[@ThomasWade]

Hi, yes it works for NQ as well. You can try 1500 tick chart. 2000 is good too but little bit big.

[@leandrobvs08]

Hello Thomas, wich plataform do you use and in what broker? thx for all the videos so far

[@ThomasWade]

Hi, I use ninja trader and multicharts platform. Brokers ninjatrader and AMP futures. For ES I use 2000 tick chart and I take a look at the daily chart before I start the day.

[@NikosBalilis]

I cannot understand where i start to draw the trendlines.I mean how i know if this is a correction of the downtrend or the uptrend?

[@ThomasWade]

First you have to locate the main bias. After you have main bias, locate the main channel. If there is big, main channel, it has corrections inside. If you cannot find a trend, it is most likely some form of a range and you draw channel tighter.

[@yur.vsaibo9187]

Thomas do you trade Ninja trader 7 or 8 ?

[@ThomasWade]

NT 8

[@kaitkdub]

I like how you take a larger scalping target than the traditional one point. When trading the 2 legged pullback for 10 ticks, how do you figure out if there is enough room for your target?

[@ThomasWade]

Well because I have found out that if we follow the rules the trade will work for 10 ticks aswell as 4. If the trade is a good setup it will work for 10 ticks. If its a bad setup, it will most likely not going to work even for 4 ticks. If you go back and take a look at all the trades I marked you can see that going for only, 1 point you leave a lot of money on the table. 4 tick scalp was developed nearly 15 years ago and volatility was not that high. In modern days, each week thousand of new traders are coming into the markets, so market volatility increases. Patterns remain the same though. If I think there is not enough room to the low or support for example I just put my limit order little bit back into the bar.

[@kaitkdub]

@@ThomasWade Thank you for the insight! It is amazing the amount of value you provide and the willingness to give to your audience.

[@AndrewTurr]

Hi from Ukraine! I was wondering, do you combine any techniqes from ICT in your trading? if yes, which, and how? thanks!

[@sebastianquiroz5181]

Great video, got trapped at the same spot but couldn't figure out why

[@ThomasWade]

Yeah it was a really good trap. The overshoot sign should have helped us more.

[@kaustubhkadu4327]

hey, really great content. I want to know what's the value of EMA?

[@ThomasWade]

21 bar EMA.

[@kaustubhkadu4327]

@@ThomasWade I am struggling to draw a proper trendline, any suggestions, please?

[@chuang543]

Where you got trapped, the lower low made at that point should have been the indication that it could go higher, right?

[@ThomasWade]

I would say it was the over shoot mainly and strong bullish move up prior to that entry.

[@magicmoja6356]

Hi Thomas, how do you determine in real time wheter you are looking for a failed second entry long instead of a second entry short or a failed second entry short instead of a second entry long? And if you get stopped out and realize that your second entry failed, do you change sometimes the trade direction quickly and enter a new trade? By the way, very good videos with very good informations, I like it :-))....

[@ThomasWade]

Hi, second entries are main entries with the trend. These are the entries we take at key entry points. What can happen sometimes is that price will create a 2nd entry long in uptrend which will work for a scalp but from that new pivot(which gave us 2nd entry) there are following two attemps to go short, therefor we can take additional setup as a trap, because shorts are trapped in uptrend. To make it easier. In uptrend we look for second entries long from the upper trendline, from the highs and we look for failed second entries short once price bounces from the lower trendline. It is little hard to explain without chart, hope it helps. I very rarely switch the gears right away, it is very hard to switch gears and take another trade. Because you can get double trapped, it takes a lot of skill.

[@magicmoja6356]

@@ThomasWade Thank you for your answer. To be clear...for a Second Entry Long in an uptrend we start COUNTING at a new Swing High at the upper trendline, but the entry is in best case near the EMA and/or the lower trendline, right? And for a Failed Second Entry Short in an uptrend we start counting at the lower trendline. In an uptrend, however, it is not clear to me why and when I am looking/counting for a Second Entry Long or a Failed Second Entry Short, because for me both are only the two sides of the same coin. Perhaps this is a good topic for a video, if it shouldn't been explained in another video yet :-).

[@ThomasWade]

@@magicmoja6356 You described it correctly. I guess what confused you is that second entry long in uptrend is the main setup we look for. But sometimes you find out that that 2EL has a horrible signal bar or you missed the setup. From the 2EL setup, that formed a new low at the lower trendline, price action is giving us clues. From that low there is an additional entry we can take... the failed 2nd entry short. Basically in trend we are only looking for 2EL but Failed 2ES is just a bonus entry, we don't look for Failed 2ES in uptrend.

[@magicmoja6356]

@@ThomasWade Perfect, thank you :-)

[@brianodonnell7076]

Mack discovered this strategy, not Al Brooks. I've both courses, and you are using Mack's system...give credit where it's due. Al's scalping strategy us completely different...he averages into losing trades which is extremely risky

[@ktanner8994]

"Reading price charts bar by bar" by Al Brooks is copyrighted 2009....Macks manual is copyrighted 6/1/2010... that's actual proof you are wrong.

[@brianodonnell7076]

@@ktanner8994 you are wrong. Mack doesn't advise averaging into loses while Al Brooks scalping method does. Al Brooks didn't invent counting bars or second entries. Apples and oranges when comparing how they teach scalping. I suggest you reread Al's book and Mack's manual.

[@chilidog73]

The 2nd entry setup has nothing to do with your trade plan or money management. It's just the setup.

[@brianodonnell7076]

@@chilidog73 Explain how trading second entries has nothing to do with a trading plan. Certainly, it has nothing to do with money management, and I never claimed it did. Looking forward to your reply.

[@RommyAli]

You unironically made an extremely stupid point 😂​@@ktanner8994

[@chilidog73]

So another way to look at a 2nd entry is that it's basically a pullback (short term reversal attempt), a break of that pullback, a new low and then a continuation back into the trend.