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Price Action Trading Strategies Overview
Oct 12, 2024
Lecture on Price Action Model Number Nine
Introduction
Focus on a "one shot, one kill" trading model
Aimed at achieving 50 to 75 pips per week consistently
Emphasis on managing expectations and accepting losses in trading
Key Concepts
Price is Fractal
Weekly range expansion model
Build directional bias using institutional order flow
Use weekly charts to determine direction (upside or downside)
Monthly charts can provide additional insights
Top-Down Analysis
Breakdown and top-down analysis from monthly content
Shared trades are based on these methods
Importance of self-analysis using mentorship knowledge
Trading Strategy
Weekly Range Expansion
Focus on day of the week: Monday, Tuesday, and Wednesday
Look for the weekly high or low to form
Pattern involves inefficiencies, liquidity voids, and fair value gaps
Liquidity Concepts
External range liquidity: double top highs and double bottom lows
Internal range liquidity: fair value gaps, liquidity voids, order blocks
Internal range entries often lead to external range liquidity and vice versa
Trade Management
Entry and Exit Strategies
Use internal range for entries and external range for exits
Alternatively, external range for entries and internal range for exits
Handling Different Trading Styles
Flexibility in trading style: scalp, day trade, swing trade, or position trade
Importance of understanding all models for comprehensive market engagement
Practical Applications
Analyzing Charts
Consistent analysis approach every week
Determininig weekly direction using institutional order flow
Analyzing using concepts of internal and external range liquidity
Using Multi-Approach Models
Different models provide various strategies to mitigate losses
Adaptation and flexibility in approach during different market conditions
Importance of understanding all models for effective trade management
Conclusion
The lecture emphasizes comprehensive understanding of trading models
Encourages wide study and practical application of concepts
The importance of continuous learning and adaptation to market changes
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Full transcript