Price Action Mastery
The Price Action Playbook
Price behavior is not just a random sequence of movements. By focusing on important levels, traders can observe how price approaches them. This includes the speed, pace of changes, and overall market sentiment.
The market exhibits a rhythmic pattern characterized by pulses and pauses. These repetitive movements are influenced by algorithms and reflect the motives of buyers and sellers. Understanding these pulse and pause dynamics allows traders to align their strategies with market sentiment and capitalize on trading opportunities for profitable trades.
Get Smarter About Trading
Join 5,000+ traders who subscribe to our Traders Mastermind daily email. Designed to help you cultivate discipline, momentum and consistency in less than 3 minutes per day.
The 15-Second Chart Hack
With the use of the 15-second chart, traders can gain a detailed insight into price movements and identify potential trading opportunities. Observing the price behavior at key levels will help in analyzing factors such as speed, pace, and market sentiment to make informed decisions.
It’s true that there can be a lot of noise in the 15-second chart. “Chunking” or mentally bracketing recent price movements can help in getting a better grasp of short-term levels that matter. This approach reduces distractions and helps identify key price ranges, enabling traders to focus on significant movements and filter out irrelevant fluctuations.
To effectively utilize the 15-second chart, it’s also important to adopt a disciplined approach. Focus on the specific areas, including opening and closing times, prior highs and lows, VWAP, and multi-day swing levels.
While the 15-second chart is a useful tool, it’s important to remember that it should be used in conjunction with other timeframes and indicators. Incorporating this technique into their analysis, traders can gain deeper insights into market dynamics, refine their trading strategies, and make more informed trading decisions.
This is the second of three parts in the Price Action Mastery webinar. Click here to go back to Part 1, A Deep Dive into Short-Term Order Flow Analysis or here to proceed to Part 3, Precision Scalping Strategies and Patterns.
The Amber Tool for Tradingview can be downloaded here.