Price Action Trading – Trading Intraday Price Action

Here is a new video on price action trading, particularly trading intraday price action.  In this video, I am demonstrating how to read forex price action on an intraday basis for short term price action trading. For those of you wanting to learn advanced price action, make sure to check out my price action course where you learn rule-based systems to trade the forex market using high-probability setups backed by quantitative price action data using simple to learn price action strategies.

Buddhist, Trader and Philanthropist

Chris Capre, Founder of 2ndSkiesForex, is a professional trader who specializes in trading price action. His blog attracts 150,000+ monthly readers across 110+ countries, including; Australia, USA, Singapore, UK, Canada, & Germany. To discover more about Chris’s Price Action Strategies, visit his Price Action Course page.

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Discussion

18 Comments on the article

  • Tony - January 12, 2012 7:58 pm

    Hi Chris,

    Really enjoyed this video.

    Very clean explanation on how you trade the 3 min chart using price action.

    Hope with a lot of practice and experience I’ll be able to read the price action as eloquently as you do one day. For now it’s all about the higher time frames, but great to see how you can do it on the lower one’s as well.

    Many thanks

    Tony

    • Chris Capre - January 16, 2012 6:00 am

      Hello Tony,

      Yes, it takes practice and experience to be able to read price action, but it is something almost anyone can learn. As it seems like you’ve figured it out,
      I always suggest starting with the higher time frames, but once you’ve gotten that down, if you have the desire, then try it on the lower time frames. Nothing really changes in the ability to read price action, so its the same skill set. Just a faster environment.

      Kind Regards,
      Chris

  • Michael - January 15, 2012 10:49 am

    Hi Chris,
    Were you only ever looking for shorts in this example or would you have taken a long if the market structure hadn’t broken or was it that the series of indecision candles before the breakdown warned you off posssible longs?
    Thanks.
    Michael.

    • Chris Capre - January 16, 2012 6:02 am

      Hello Michael,

      I was looking for longs, but I didn’t like the setups I got, and by the time I really got involved in it, a short setup was the next opportunity, so that is what I traded. Trading price action is about learning to read what opportunities are in front of you, and then trading that, without bias. This just ended up playing out like that.

      Hope this helps

      Kind Regards,
      Chris

  • Glenn - March 13, 2012 7:07 pm

    Hi Chris,
    This is a great lesson on reading short term price action. You teach with confidence and enthusiasm. Thanks for your efforts made in passing on your knowledge.

    Glenn

    • Chris Capre - March 14, 2012 6:17 pm

      Hello Glenn,

      Thank you for the kind words. Yes, I am enthusiastic and passionate about teaching. There are three things I live and breathe all day every day;
      Trading
      Yoga/Meditation
      Teaching

      But am glad you enjoyed the material.

      Feel free to check out the rest of the free articles and videos on the site.

      Until next time…

      Kind Regards
      Chris

  • Paul - April 14, 2012 12:43 pm

    Hi Chris

    I am still quite new to forex and find your videos and articles easy to follow and understand. Thank you. My question relating to the above video is about the lower high for the signal to go short at 30.24. My question is why is the top of the large red candle after the three candles forming resistance at 30.26 not considered as a lower high? Thank you.

    • Chris Capre - April 14, 2012 2:25 pm

      Hello Paul,

      Thank you for the kind words on the videos and article.

      In regards to your question, the large red candle after the 3 candles formed the resistance line at 30.26 is part of the same move from that rejection. This move stops at 30.18 which forms the SP (swing point) from the first sell off and rejection at 30.26. Then the market pushes back up and rejects at 30.24. This push back is the 2nd rejection and failed rejection to hit the 30.26 level (former highs) thus forming a LH (lower high) since it is an actual rejection and part of a 2nd attempt (and failed one) to make new highs.

      So hopefully this explains it but your really using the LH principle to mark or signify moves that get rejected, not each individual candle.

      Hopefully this makes sense but good question.

      Kind Regards,
      Chris

  • Adam - May 3, 2012 3:01 pm

    Chris, can you tell me what your performance in % is. Win to loss ratio, and what money management % you commit to a trade.
    Many thanks
    Adam

    • Chris Capre - May 4, 2012 4:27 am

      Hello Adam,

      I am not really sure what your line of questioning is about. Are you asking about my courses and the systems performance?

      In regards to money management, I generally risk no more than 2-3% per trade.

      Hope this helps

      Kind Regards,
      Chris

  • Paul - May 28, 2012 11:51 pm

    Hi Chris, watching this video again I have another question. An hour
    after the open a pin bar forms under the 20ema. Can you tell me why u
    did not consider this a possible long trade? Thank you.

    • Chris Capre - May 29, 2012 2:33 pm

      Hello Paul,

      I think you are referring to the pin bar in the middle.

      As an FYI – this kind of commentary you are asking for is generally reserved for my price action course students.

      But I’ll be happy to answer this time for you.

      First off, it’s happening below the 20ema which is generally not my favorite time to be trading these types of bullish pin bar setups
      since its just after the break of the 20ema.

      Second, it’s happening in the middle of the days range up to that point, so also not my favorite.

      Thus, hopefully this gives you some info to work with.

      Kind Regards,
      Chris

  • gary - July 18, 2012 2:31 am

    Hi Chris, very interesting video!! Love the breakout video. I use the momentum indicator in similar matter to trade london Open. Will check out your cses =)

    • Chris Capre - July 18, 2012 10:38 am

      Hello Gary,

      Glad you like the video.

      This is just the tip of the iceberg as to what is in the course so hopefully we can work together.

      Kind Regards,
      Chris

      • Gary - July 18, 2012 11:17 am

        Hey Chris, Thks for the speedy reply. Ya, will sign up in the morning.oops its morning now already.. 2.13am (1413 EST))over here in Singapore ;) btw, I think u have the coolest and most stylish trading education website. :)

      • Chris Capre - July 18, 2012 11:54 am

        Hello Gary,

        Glad you like the site – although all the credit goes to my developers and designers. I just give the thumbs up but they do the hard work.

        Hope you get some rest and look forward to working with you.

        Kind Regards,
        Chris

  • ikechukwu from nigeria - January 14, 2013 3:31 am

    going through ur articles and peoples comment on ur website, i came to the conclusion that u’re a qenuine mentor and who is really intrested in the success of other traders. my interest is, to know the kind of payment procedure and kinds of credit/debit cards u accept from my country cos i’m intrested in enrolling for ur courses, thanks.

  • seyedmajid masharian - August 4, 2013 3:22 am

    hello chris
    i have seen this video several times but i could not understand what what do you mean exactly about higher highs and higher lows etc… and how to diagnose and use them in trading intraday.
    can you please explain it more, how to diagnose and use them?
    thanks