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Price Action Trader
@PAVLeader
, 3 tweets, 1 min read Read on Twitter
Based on the last poll results I am sharing 3 methods to exit a trade:

1. Stop Loss: Can be above (for shorts) or below (for longs) the following
a. EMA/MA
b.Trend Lines
c. Channel
d. Supply/demand zones
e. Swing high/low
f. Previous candle
g. Fractals
h. Finally ATR (Popular)
2. Trailing Stop Loss
a. Previous candle high/low
b. Above/below recent HH/HL/LH/LL
c. EMA 5/10/21

3. Targets
a. Previous swing high/low
b. Previous supply/demand zones
c. Channel high/low
d. Fibonacci extension or retracement
Make a note of it & I will keep referencing these terms in my future charts. Let me know if you need to learn anything specific in this & I will explain it via charts.

RT to spread the awareness so that it reaches the larger audience.

#TradeWithPAL
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More from @PAVLeader see all

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Price Action Trader
@PAVLeader
#BANKNIFTY Future bar by bar commentary for today's move for learning purpose.

1/n
After a powerful reversal with massive volume & wide range bar yesterday #BNF closed above EMA21 & has made higher higher on 15M candles & didnt break the low of any previous candle.
2/n

This shows the strength in the move & shows the strong momentum upside. After so many days of downfall, bears were shorting on every rise & this was a perfect "Bear Trap" setup (yesterday it broke the day low only to reverse).
3/n
At yesterday close selling profit booking was witnessed but today's open didn't break the low of that candle as well. It shows we still have some steam left for upside.

Points below are aligned with the numbers marked on the chart for easy understanding -
Read 12 tweets
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Price Action Trader
@PAVLeader
Build your stock scanner
1/n
If you want to get BEST results in trading, keep eyeballing charts manually & give max time for manual screening & scrolling. This will help you understand the behavior of an individual chart & will help you strengthen your #PriceAction skills.
2/n
 Above all it will help you build your own scanner becoz you know what works what doesnt. More time you do this, more confidence you will get on your trading skills & eventually it will help you in making more money. It's a journey you have to travel & there is no shortcut.
3/n
 Every week, I keep testing new ideas & build new scanners in Amibroker which helps me scan stocks matching my buy/sell criteria. The criteria could be any condition, any indicator, 52HL etc. You are just translating your thoughts into a scanner to get you the results you need
Read 5 tweets
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Price Action Trader
@PAVLeader
As promised I am sharing the commentary of today's #PriceAction on #BankNifty future 15 minutes chart. I trust you will find it useful for learning purpose.

Each bullet point is reference with the candle number for easy understanding.

#TradeWithPAL
1/n
 1. Gap down open, price closed below demand zone with ultra high volume. Long upper wick, signs of selling pressure.
2/n
 2. Next candle bearish with less vol than prev candle, price closed below 1st candle, small tail. Selling pressure continued
Read 12 tweets

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#Chapter2 : Trend Trading .

Traders first priority is to take a trade basis the trend. Trend in simple terms means, following the direction of the Market.

Which also means, being with the forces who create the direction, who drive the prices, who move the market, SmartMoney.
What is Smart Money ?

Traders Small or Big who buy or sell in large quantities and have the money power to play with prices by buying or selling at important price points.

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Expectancy = Success Rate x Reward Risk Ratio

Lets Talk About Expectancy Of Short Term Directional Trading System.

Read On (1/n)
Success Rate = No Of Profitable Tades/ No Of Loss Making Trades

Reward Risk Ratio = Average Profit Per Trade / Average Loss Per Trade

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