Using Price Action Rules to Identify Entry Opportunities

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
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Date April 3 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 Thomas! I took one loser today, I went long at that 2EL at 7:29 in the video, only in hindsight did I take into account the resistance above and congestion, I'll take it as a positive learning moment for the future.

[@t3rcx]

That double trap formed first as a decent 2EL on my chart, so for me it was just a straight trap 😂.

[@kingkiller468]

Thanks for the guidance, I don't follow price action 100% but I incorporate your rules and chart analysis to make hypothesis about price. I really enjoy how methodical your approach is and that your trades are limited to high probability setups.

[@zenoo514]

Thanks Sensei Thomas !

[@spyguy4278]

Thanks Thomas! Really slow mid-day doldrums, some nice plays late though like you mention a bit aggressive.

[@MrWoodbreeze]

Thanks Thomas.

[@gottschalkphilipp5285]

Thanks Thomas ✌️

[@Archer441]

Thank you. 0-0 Did take the 2EL MT premarket on SIM

[@C0D380145]

Thank you!🙏 I love your tutorials. As a beginner, one becomes a bit curious about the possibilities that price action trading can lead to. I understand that it is a long way there and requires both discipline and experience over time. But what do you earn if you are so good at it as you? Is it realistic to be able to live on it over time?

[@ThomasWade]

Trading is also very psychological and it depends on each traders what they can earn. Of course you can make living off it. Tons of traders do.

[@gregschult6908]

Does everyone here basically trade the ES/MES? I am thinking of joining the paid chat however, I've only used the NQ/MNQ for just over 4 years. I have always liked the idea of 2 leg pullbacks however, it's never been explained in a way like this fella does and I understand it soo much better. Thanks for any insights!

[@ThomasWade]

I trade ES but price action works in all markets. NQ and CL are also good charts.

[@RommyAli]

Why isnt the bearish rejection of the ema at around 12:20 not a f2el? Do we restart the count when a high *or* low is broken when counting up swings? THANKS!

[@ThomasWade]

Actually you can count it as F2EL, it just pushed so far down from the count reset point I didn't even consider it. Also our downtrend played out.

[@Phdygsjic]

Thank you for your amazing guidance. Can you please tell me where you find when there will be high impact news please.

[@ThomasWade]

Forex factory calendar. I focus on high impact news.

[@Phdygsjic]

Thank you soooooo much. Looks like today is a great and predictable short day cant wait for your video later thats all i look forward to all week hahaha. Have a great day and God bless

[@Robby.J]

Do you have 1 or 2 of your videos you recommend that slows down your explanation of what "2nd entries long/short" are?. Struggling to make sense of it after watching your most recent videos

[@elmamo2000]

He's got a list in the description.

[@ThomasWade]

My most popular videos explain how to count entries, two legged pullback and high probability setup. I also put them into description.

[@jmitch6896]

Do you always trade when Jerome Powell is speaking? I sat out that part of the day.

[@ThomasWade]

If volatility is normal then yes. Because he can speak very long time.

[@littlehammer87]

I took the lower high at min 13.20. I actually took it from the next "inside bar" that one triggered. And of course I got stopped out by 2 ticks. Thomas can you please explain why that inside bar after the first lower high is not a good signal bar? Ps. Even if took the first lower high still would stop people out. Thank you As always ❤

[@ThomasWade]

This can sometimes happen in the market. You see a good signal bar for your setup but it doesn't get the break, the trigger. This is not a good sign because why it didn't trigger. When the signal bar doesn't trigger and stalls with inside bar, we skip this entry.

[@jasons6573]

👍 Nice

[@johnnynandez9476]

Was this thumbnail the nq chart cause I remember that 2EL in nq

[@ThomasWade]

Yes it was.

[@johnnynandez9476]

@@ThomasWade well you show the NQ chart in todays video

[@SSeblo]

w thomas