Price Action the Complete Picture
This article we gonna learn about fusing all the three methods and have Price Action the Complete Picture.
Table of Contents
Chart without Indicator
The below chart is of Bank Nifty 30 min TF. This is how a regular non trading person see chart and also traders who rely solely on indicators.
Rejection of Higher and Lower Price
Now all the 3 Price Action Methods you learnt and practiced thoroughly then the 1st thing your brain will notice are the strong rejection areas as shown below.
Sideways Price Action
After that you can Sideways Price Action in the below chart it takes time for new traders to notice Sideways instantly. Key thing is practice going through wide variety different scripts and timeframes.
Aggressive Initiation Area
Aggressive initiation is shown below. Its the easiest to find on chart. Key thing is huge candles (basically trend on low timeframe) not overlapping like sideways and mostly starts after sideways.
Price Action the Complete Picture
As you can see all the combine price action you get many trade opportunities that to without indicator. Remember these 3 Price Action techniques are the foundation for future analysis from which you can draw Support and Resistance, Supply and Demand Zones (taught in next article and some in Volume 3) etc.
What timeframes(TF) to Use to Spot Institutional Activity ?
- The big financial institutions operate in many different ways and on many time-frames. They do algorithmic trading.
- They have traders who do
- Intraday Trading.
- Swing Trading.
- Long-Term Investments.
- They have people who do Hedging, Currency conversions… they just do it all.
- The big institutions cover all the time-frames – from 1min to Monthly time-frames. One thing that is common to all of them is, the big amount of capital they manage.
- For this reason, we can spot the institutions at all time-frames because they have the same problem at all time-frames.
- The problem of having too much money to manage.
- That is a really good thing for us because we can use the same methodology and strategies for all the time-frames.
- All the strategies in this course can be applied to any time-frame you want.
- You just need to adjust your Profit Target, Stop-loss, and trading volumes (Quantity), but apart from that, all will be the same because the institutions behave in a very similar way on all time-frames.
So don't forget to practice seeing Price Action as the Complete Picture. Practice 5 scripts all with 1 , 5 , 15, 60, 240 min, 1W go as far back as possible or at least 4 years back then only get to next article.
In the next article we are going to finally understand Support and Resistance which you only understand better if you have the complete price action picture.