This is a simple example of how anyone can attempt to understand price action, trade setups, and determine if the current trade setup is valid for any trading action.
Unless you have a trading system that helps you identify highly successful trade setups, most people struggle to find opportunities before they turn into breakout trends (up or down). Ideally, most traders want to get into trades before the big breakout, or breakdown, happens.
This video, part I of an extended series, will help you learn to use simple tools to identify qualified trade setups from invalid setups.
You can trade whatever you want. But remember, the trend is your friend, and learning to understand price theory, trends, channels, and support/resistance is all you need to make better decisions.
Watch this video to see if it helps you. Over the next few weeks, I'll create more videos highlighting simple techniques to help you become a better trader. I'll review dozens of charts and highlight what works and what doesn't.
Trading is a matter of managing risks while attempting to generate profits. This will be a great way for me to share my thoughts with all of you while trying to help you learn techniques to help you build solid skills.
Hope you enjoy this first video.
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Please take the time to visit my profile and check out the Part II & Part III videos to reinforce the Fibonacci Price Theory, trend channels, and to continue your education related to using these techniques.
Very happy Trading View made this an Editor's Pick. Makes me pleased that so many people are benefiting from these videos.
At the end of Part III, I go over the QLD Daily chart. Let's watch what happens after I did my analysis suggesting the SHORT trade was the best opportunity for traders. We'll see if I'm correct or not.
Enjoy.
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I just uploaded a new video focused on Breakouts/Breakdowns and Pennant/Flag formations for everyone to learn from.
This video focuses on different types of Breakouts and Flagging price formations. I hope everyone can see how I use the same techniques (channels, rejection, Fibonacci price theory, and more) to apply the same trade evaluation logic.
My goal is to help you become a better trader and to help you learn to use better techniques/skills when evaluating charts/setups.
Fantastic initiative! Understanding the basics of price action and trade setups is crucial for anyone looking to succeed in trading. Your video series sounds like a great resource for traders at all levels. Can't wait for the next installment! 📈🎥
BradMatheny
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@MyCryptoParadise_Nathan, Part II and III are already posted. Visit my profile to view them. Hope you enjoy.
GODzilla_999
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good
tooken2
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What are you using that is firing off the triggers? Thank you for your time