Part ONE :
Covering the Overall Concept & Full Recording of a live trade session
Hey guys, in this lesson, i will be covering a core concept of price action trading though as a beginner price action trader, you must not try this. This is something you should explore once you spend enough time reading the price actions on charts & also got some realtime breakout trading experience where you have seen a lot of false breaks taking place alongwith successful breakouts. So, basically i will try to show you here one of the variation of catching a possible upcoming breakout right before it breaks out above the key level. Though i have used 1 min timeframe chart here, but this is applicable for any timeframe you use as the only criteria is understanding the core price action context in the scenario in multi-timeframes & not just understanding or focusing in that 1min chart alone.
As the above chart shows, we see a range-bound market condition here where selling opportunity occurred in points a, b & c. price got rejections from point a & b but failed to move down from c here and from there we see a successful breakout taking place which could happen through point a & b as well. So, How do know which point it will go through & which point will be rejected in a key lavel ? The answer is – THERE IS NO EXACT SURESHOT way to find that but we can read price action momentums when price approaches a key level & keep our trades in-line of that existing momentum so that if the momentum is strong enough while approaching that key level, there are good chances that – it will go through that key level to become a successful breakout. So, how often this process is successful ? Even if we’re successful for 50% of the time, you’ll end up making big money as you’re catching up a BREAKOUT MOMENTUM which is expected be a quick big move & one way momentum as well, as we see in the momentum happened through C in above chart. Indeed, you will try this kind of pre-breakout move to capture only when you see strength in the overall price action context & see active Price Action order-flow happening in that move on an attack towards key layer.
Anyhow below is the live trade covering the same concept i talked about so far. This is just one of the variation i traded on chart yesterday. Since, i was looking for capturing a breakout momentum hence had to sacrifice some profits & exited the trade with a +1.5R Gain as it ended up hitting my trailed SL finally. What if it would work out for me – i would have ended up with a 7 to 8R GAIN against 1R RISK in that case.So, that’s how the probability works out finally. Anyway, profit/loss was not the core objective of this video as the main idea was sharing the pre-breakout orderflows on charts. Hope, you’ll like it.
PART 2 :
MEMBERS ACCESS ONLY
- Analyzing Multi timeframe charts
- Pre & Post breakout structure
- Targeting & stoploss
- Order flow Difference in this trade & similar trade setups
- Similar trade setup examples