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.
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
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
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.
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
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
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
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.
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
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
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