LIVE Intraday Trading For Beginners – (PRICE ACTION Trading Live) πŸ”₯πŸ”₯


So today is 22nd Jan Wednesday. So, NIIT Tech has given a breakout here.
So let me just open up a trade. So I’ll just place the order at
market price. So there you go. Let us just see. So we get
the execution at 1825.85. Let me show you in this trading
view module. So there you go. 1825.85 is the execution price. Now in this episode, while I have placed VWAP indicator
and MVWAP Indicator on the chart, I want to demonstrate a few things
with respect to price action trading. Now what I’ll do is during market hours
I won’t be able to explain you a lot of things with respect to
price action trading. But as and when I exit my position
that is in a profit or loss, I will explain a few things about
price action when the market closes. So after 3:30 PM after I
have exited my positions, I will then go forward and explain a
few things about price action concepts. Click on the subscribe button and bell
icon to get instantly notified when a new video is uploaded. Thank
you for subscribing. So it’s 09:35 in the morning and
currently NIIT Tech is trading at 1825, it’s pretty close to my entry price. And in my own account I actually
have taken entry at 1827 and 1820, so I will blog about this particular
trade when the market finishes. So what particularly intrigues me in
this chart of NIIT Tech is these three Hammer Candles that are forming
after this bullish candle here. Now what I’ll do is when I send out the
video, I will Mark these specifically. So it’s 09:50 in the morning and we are
seeing that NIIT Tech is attempting to make a new day’s high. So currently price is at 1821 let
me just Mark the days high here. So we have just crossed it.
So this is my reference line. Now this was the previous day’s
high that NIIT Tech just crossed. So what I’m interested now is in seeing
how the volume is shaping up as price is trying to make a new high
here. Now on my other monitors, I can see that Infosys
is also up about 1.6%, something like TCS, even
TCS is up closer to 1%. If I look at Nifty IT index, it is also up about 1.2%
and apart from this, even pharma stocks are
doing quite well today. So IT and Pharma remains in
focus. So in my own account, I’ve actually taken trade in
NIIT Tech and in Auro Pharma. So I have taken entry in both the stocks. So as day traders you need to take
into account two important factors. Number one, which sectors in
the market are moving higher. And number two is price-volume expansion
visible. So if you look at this candle, look at the corresponding volume here. Now this candle is clearly moving
higher. That is the range is expanding. And along with this volume
is also moving higher. So again and again if you have watched
my previous four episodes that I’ve done on live trading, this is a basic concept that applies
in all the episodes that I’ve done. You need to understand the relationship
between price and volume and you have to counter check at all times that as
price moves up or down whether volume expansion is coming in or not. Now this is extremely important
as a day trader to take note off. So at least for now NIIT Tech is at 1837
and it is moving high on back of strong volumes. So this is something I like to see after
I have entered my position and in these past two to three days, I have mentioned
even on Twitter and YouTube community, that my focus is now shifting towards
trading mid cap and small cap stocks. That is from day trading point of view. And I do feel that some amount of buying
is happening in the mid cap and small cap sector and these stocks are actually
much easier to trade with in case you can find some liquid names. So it’s 09:53 in the morning and
price is currently at 1839.7. So this particular wide-range
candle that you’re seeing, this particular one that
I’ve marked here, it’s, it’s actually signifying that buying
pressure is definitely visible. Now I do have order flow screen that is
order flow data on a separate monitor and between 1839 and 1840, I am spotting some large orders
coming in, that is from sellers. So let us see, I think price should sort of
retrace back to 1835 or lower. That is just a guess because usually
when such supply comes-in in the market, price does retrace back and also keep
a tab on the volume sub panel here. Because this, there you go. There you go. I think price is trying to
move lower and I’m like such, such sort of information is visible if
you know how to read Order Flow data and I do feel that some strong sellers
have entered, there you go again, price is trying to move lower. Now I want to make a psychological
point here. There you go, Again it’s trying to move lower. So I just want to make a psychological
point here that after you have entered, let’s say I took an entry at 1825
and I see, there you go again. It’s now it’s below 1832. Also, before I move over to
the psychological point, in case you guys are interested in
knowing about how to read Order Flow data, then do let me know in the comments
section below because based on your response, I will decide whether I will do a
separate series on order flow analysis. So the psychological point that I wanted
you to take note of is that even though I have entered somewhere closer to
1825 and I’m seeing rejection at higher level, I won’t be exiting my positions just yet
because my stop loss is set somewhere at 1800 or 1810. So look at this long wick here. This is where most of the traders
get scared and exit the position. Now what I’ll do is I’ll just
move my stop loss to 1820. Now this is just to protect my existing
positions because I don’t want to take a loss in case the supply
increases at this level. So as Day Traders after you
have entered the position, be prepared to see such sharp pullbacks. Now this is what will make you a good
trader that is being calm in such situations. So it’s 11:03 in the morning
and a NIIT Tech is now at 1843. So I’m getting roughly about 1% from my
entry price so I will be closing out my position after the Candle closes. That is, I usually like to exit my positions
on back of strength candles. So I’ll be closing out my position
soon. Now before I do that, towards the end of the video, I’ll actually explain to you a few things
about entry in this particular episode because entry was a bit different from
what you’ve seen in the first four episodes and mainly I want to draw
your attention towards some basic price action trading concepts. I have covered those in some separate
videos that I’ve done about six, seven months back. But I had never shown application
of those concepts back then. And which is why I will be showing
you application of those price action concepts today. Now that mainly
relates to entry and exit. That is, what are the key parameters I see when
I want to enter a trade and what other parameters I personally analyze
when there you go again, a new day high for NIIT Tech and what
are the parameters that I use to exit a trade. And once I finish the Renko series, then I’ll show you how you can apply
Renko in day trading, swing trading, and positional trading. So I was supposed
to start the Renko series next week. That is from 1st Feb, but because we have a union
budget on 1st February, I will either release it
earlier or after 1st February. So in case some of you have still
not registered for the Renko series, a videos do check the description box
below and the comments section below. So now that the candle has a finished, I’ll now exit my positions now. What I’ll do is I’ll just exit 50%
of my positions here and remaining, I would square off somewhere
between 1855 and 1865. Now if you just look at how prices
moving and how volumes are coming in, I do feel that NIIT Tech is in a strong
uptrend here and for the day it should cross somewhere between
1865. I won’t be surprised, even if it crosses 1870. So what I’ll do now is I’ll just Mark
out this previous breakout region here. So let me just draw out a line, 1841 I think was a
previous breakout region. So now I would actually close out
my position between 1840 and 1843. So let me just check what
fill price we do get here. Let me open the module here.
I’ll just close out my position. So I’ll just exit 50% of my position. So I’ll do it from the terminal itself. So I’ll sell at the market
price. I’ll make this 1 and market price and I’ll sell it.
So let us see what fill we get. So we get it at 1842.5. So currently we just have one
position left for the day, that is remaining 50% positions. So in my own account I have exited at
1843 and I’ll place my next exit around the 1855 and 1860. I also have an open position in Auro
pharma and hence I have to balance both of these out. So it’s 11:37 in the morning
and NIIT Tech is at 1845. If you look at this
particular price action here, it is very close to the
support level I’m marking. So what I’ll do is I’ll just move
the trailing level to about 1830. Now if you watched my previous episode, where I told you that I don’t necessarily
trail my position and some of you might question as to
why on today’s episode, I am trailing my positions regularly. Now this has to do with how
broader market is behaving. Now advance decline today
is around 1.2 which is good, but if you look at most of the high
beta sectors, they are not doing well. Now when it comes to defensive
sectors, something like pharma and IT, what I like to do is I
like to trail my positions, especially if I get into profit. Now what I’ve found is that these stocks
are not exceptionally good stocks to trade in, that is from day trading point
of view. Unlike the high beta counters, which do tend to move a lot, and therefore I’m more aggressive when
it comes to booking out on profits when my trade works in the
direction of anticipated trend. So it’s 11:45 in the morning
and NIIT Tech is 1848. So it’s just a new high again. So when I send out the video for editing, I will add some data points
and I’ll explain those later. But if you just take a look
at the data of other I.T. Stocks and even if you
analyze the price action here. So this is again a break out candle that
is forming above the recent days high. If you look at the volume,
it is still not high, but volumes will come
in as time progresses. So what I’ll do is when I send
out the video for editing, I will put out some data points with
respect to other IT names and we’ll show you how tracking other stocks in the
same sector always helps in day trading. So it’s 11:15 in the morning.
Look at the volume here. Again, range expansion is visible. So what I’ll do is I’ll just shift out
this line again to the previous breakout level. So there you go at 1847. So when I send the video out for editing,
I’ll show you on my other monitors, Currently I’m tracking stocks
like Infosys and HCL Tech. I’m also tracking TCS and some other
small cap names in the IT sector. And all of these stocks are
doing exceptionally well. And this is something that gives you the
confidence to hold positions because at times you can get your
entry right in day-trading. But it is the confidence aspect
that most beginners struggle with. And therefore I always tell you to
watch advance decline data and to watch sister stocks of the same sector. This always will help
you in holding positions. So it’s closer to 12:15 PM and what I’ll
do now is I’ll close out my position in NIIT Tech I will be holding this
in my own account until about 1860. So just give me a couple of seconds. I’ll just close out my positions in
trading view. So I’ll just right click, close position and let me
see what fill price I get. So order is placed in the system
and we do get a full price at 1852. So now that the market has shut, let me now explain some of the price
action concepts I used to trade in NIIT Tech Today. So this is a
five minute time frame chart. And the first important concept that I
want you to understand is that of wide range candles on a
chart and by wide range, I mean if you look at
the range of the Candle, it opened at 1802 and the high was
made at 1826 so this is roughly 1%. Now do take note that such wide
range candles hold extreme importance irrespective of the time
frame you’re trading. And so I use this on a
five minute timeframe, but this candle if you see on a 15
minute or 30 minute time frame chart, that is obviously much more stronger. Now a lot of books written on
the importance of such candles. Now these candles are also
called a decision candles. These are also referred
to as anchor candles. Now there are many various names for it. I simply refer to this as a strength
candle that is wide-range candle that has wide range and it is
backed by good volumes. So when it comes to day-trading, let me show you why these
candles are so important. So the first point that I would tell you
is that the middle range of the Candle usually act as a strong
support in intraday trading. Now do take note of this aspect. The second important point that I would
tell you is that low of this particular candle acts as an
extremely strong support. So at times you will see this
mid range support being violated, but on a day trade basis, this low end support is something that
is very strong and usually this is not violated from day-trading perspective. So when I saw this a long
wide-range candle on the chart, I knew that strong participants
had entered in the market
and I was just waiting for an appropriate opportunity
to initiate a trade. So this came about in form of
these three hammer candles here. Now the all these candles
here have long tail, which does we present some
sort of demand in the market. Now one of the mistakes that traders
make is that as soon as they see hammer candle on the chart, they just go
ahead and initiate a trade. Well, let me tell you, that is not the
right way to use hammer candle. If you look at these three hammer candles, these are actually forming within
this wide range candle here. So this is the candle that sets the tone
for the day. That is a trending day. And these three candles then really
emphasize the underlying demand in this instrument. So this is how you have
to look at these three candles here. So the moment I saw these
three candles forming, I started entering in trading
view and in my own account. Now after a few minutes you’ve got
this shooting star sort of a pattern. Now again, a lot of traders,
when they see this pattern, they start getting nervous and they
usually will close out their position. Now make no mistake that whether it is
a hammer pattern or the shooting star pattern, this has to be confirmed
unless and until this is confirmed, there is absolutely no reason for
you to close out your positions. So after this shooting star was formed, I wanted to see what
kind of candles show up. So these three to four candles were
extremely narrow in range and did not signify anything with respect to demand
or supply. That is how I read it. Now do take a look at
these three candles. Again, there is some long tail that is
visible in all these three candles. Of course it is not that relevant when
you compare it with these three candles here. But again, these three candles have not yet confirmed
this shooting star pattern and this is how you have to look at it when
it comes to holding your positions. So one of the most difficult things
in intraday trading is not entering, and it is not also about exiting a trade, it is about holding your positions
after you have taken entry. So that is why relevance of each
candle with respect to the support or resistance that is visible on the
chart that has to be assessed. So when I saw the shooting star formation, I wanted to check where is the nearby
support that I can find on the chart. Well that comes about first in this
region because these three long tail do represent some sort of
demand in the market. Then it comes about at the middle
point of wide-range candle. And then finally I have a strong support
here at the low point of the Candle. So all these Candles that were forming
on the chart were relatively meaningless when I compared it to the underlying
trend that was prevailing for the day. And towards the later
section of this video, I will show you why I was so sure
that NIIT Tech would head higher. So all these Candles were forming at
10:30 10:45 AM so between 11:10 and 12:30 PM they were again, these candles that were forming that
usually would be seen as bearish candles for the day. Now in this
particular case, if you see, there’s a small shooting
star present here, and this has been confirmed with
this wide-range candle here. Now, the reason why I call this wide range is
because if you look at the recent range of the candle, this can be
considered a wide range candle, but the immediate support that you would
look for in this particular trade would be the low point of this
wide range range, candle, And then the low point of this
hammer pattern here. Now again, don’t go by textbook definition. A hammer pattern is a candle that has a
long tail and it usually forms after the down cycle. So if you get too
caught up in textbook definitions, you will never be able to read the
underlying psychology of the chart. So even at this point I was not inclined
to close my positions because I did want to see what would happen with
respect to the support here and more importantly at this particular
level. So after about 10-15 minutes, you then start getting these
two, three wide range candles, which reaffirmed the direction of trend
and look at all these three candles here. Again, these are narrow in range with respect
to what you’re seeing in terms of bullish candle. And then after about
20 minutes from this Candle, you again get these two
wide-range candles on the upside. So what I was doing with respect to
NIIT Tech and most of the trades, I do take cognizance of all the
candles that are forming on the chart, but I don’t necessarily react
to every candle that is formed. I do take account of nearby support
and resistance on the chart and then I relate such candles to the support level
or the resistance level in case I was short in the market. Now between 12:30 PM and 1:30 PM this
is where I actually closed out my positions on trading view
and in my own account. I actually exited the
position at 1868. So again, take a look at all these
narrow range candles here. So someone who is looking at this on real
time basis would definitely think that momentum on the upside is now relatively
less and price would eventually start rolling down. So this in my opinion,
is not the right way to think. So at this particular moment, what I did was I marked out a
support at low point of the Candle, that is somewhere at 1852 so
had this level being breached, I would have then exited my positions.
But look at what happened. Again, we got these two wide range
candles in the direction of trend. Now I had blogged about
this particular trade, the blog link is given here and I had
explained how I use these strength candles to actually scale out my positions. So this is something I do on a periodic
basis or do read all the blogs that I’ve written. I have covered over 17-18 trades on the
blog and I’ve explained those in detail as well. So when it comes
to price action trading, let me tell you price action trading is
not about reacting to each candle that is forming on the chart. It is about relating all these Candles
with one another and with respect to the nearby support and resistance. If you keep things extremely simple in
terms of support and resistance and then viewing each candle accordingly, price action trading actually
gets simple with time. So let me now discuss why I was so sure
that an NIIT Tech would head higher. Now do recollect that in episode three
and four I had highlighted the importance of tracking same stocks within the sector. So NIIT Tech belongs to the information
Technology sector that is I.T. Sector. And after I spotted entry in NIIT
Tech, that is somewhere around, let me just pull up that chart.
So somewhere around this level, this was between 09:15 and 9:30 AM look
at what other Technology stocks were doing. So this is TCS. So between 09:15 – 9:30 AM the trend was
clearly visible on the upside and look at all these candles that performing. If you also take a look at Infosys
during the same period even Infosys was clearly heading higher and do
take a note at HCL Tech too. Now at HCL Tech within that same
period moved from 585 to about 593. Now do take into account
that HCL Tech, Infosys, and TCS are large cap stocks and when
they open on back of high momentum, at times the move is already over . NIIT Tech is midcap stock belonging into
the Information Technology sector and hence you can anticipate more upside
when such stocks start to move. So again, in this particular video, I combined basic concepts of price action
trading with the fact that you have to track other stocks within the same sector
in order to be confident about holding your positions. This is again, one skill that will come with time and
do practice this on a regular basis because this is one concept that
does work in all forms of trading. So if some of you are new to this channel, do watch the first four episodes of Live
Intraday Trading for Beginners Series. So kindly consider hitting the like
button and sharing this video if you find the content useful. Thanks a lot
for watching this video guys. Take care and be safe.

67 thoughts on “LIVE Intraday Trading For Beginners – (PRICE ACTION Trading Live) πŸ”₯πŸ”₯

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  2. It would be really great if you could explain in detail order flow analysis. Thank you for your honest efforts..

  3. And since it's budget time, it would be really helpful for us if you could throw some light on how to trade on budget day…

  4. Dear TradeWithTrend, It's simply clear explanation of Price Action & Volume.. I am doing it same as well.. πŸ‘

  5. YES sir, earlier I used to react on every candle that was forming so I shifted my focus to 15 min candles and results are more consistent.
    Thanks for highlighting various aspects, if possible do share order flow analysis, I would love to learn the same from you.

    Thanks for making such videos despite being a trader, it is really difficult to trade and manage the video.
    Tracking sister stocks πŸ™‚

  6. But you havent mentioned entry point (I think 1824) reason behind it .. as first candle was around 1% of stock value … Hey friends like this informative video

  7. Once again an informative video. I am open to absorb all the knowledge you'll share. Bring on the order flow analysis sir waiting…….
    Thanks for this series and all the upcoming series πŸ™‚

  8. Wonderful Video as usual. Loved it ❀️. Yes Kindly do make videos on order flow. Also if possible on Hieken Ashi live trading. I have a question on VWAP strategy about the RR and the overall profit percentage. Am worried because if it is 40% winning and our RR is less than 1:1, then one stop loss will eat away all the profit. Kindly clarify Raunak Ji

  9. Hi, can you please make a video on order flow / where to get the order flow data and how to interpret / analyse the order flow

  10. Good video with teaching VSA concepts ST….

    Wyckoff 3rd law of Effort vs Result can be clearly seen… the 4th candle which was doji didn't have many volumes…so one can clearly see the bias on the upside,

    1) u mentioned u use order flow to check the incoming orders..is it time&sales or market level 2 bid-ask data?

    2)You always exit at the 50% at strong large candle…is it because of intraday buying/selling climax?

    3) at 10.11 why you sold at market order? you could have taken limit order just above the candle or somewhere between those levels.

    4) advance/decline ratio of a respective index or broad market index to be seen?

    5) at 16.21 was the 3 hammer candles was that test candles by the market markers to test whether suppliers are present in the respective scrip?

    yes, ST…orderflow series would be good..although I read many articles..your way of explanation gives breakthrough…

  11. The way you explain the concept is outstanding.slowly learning every concept from you.We need Order Flow Analysis concept.
    Thank you Sir.

  12. Great learning as always. Thanks for the all engrossing content. Pl make the Order Volume analysis video also . It is awaited eagerly
    Thanks

  13. Once again a great video with so many key insights. I have two questions:
    1. You chose NIITTECH over other IT Stocks as other gapped up, and it opened flat and gained momentum in first 5 mins? or I missed something?
    2. How do you decide the price to exit? You mentioned you will exit at 1855 beforehand. How do you identify targets?

  14. Thank you for detail explanation on price action, it really helps, "Volume and Price" so important. Would love to learn more on order flow. Thanks again for your hard work in bringing these precious lessons to us novice traders.

  15. Sir one more request.. please make a daily video series .. where u can take one or two stock and explain the detailed price action. Will be very thankful to u if u take some complex price action examples also. Love this channel and always will be. ❀.

  16. Thanks for a great video.

    I would love to see more videos on volume and price action, not MP or VWAP, just volume. I think that would excellent.

    Thank you for all your amazing work!!!!

  17. Explain order flow sir
    The price action what you spoke on this video can was really useful for me …..I'm expecting more of price action concepts in upcoming live trades sir

  18. Very good price action analysis video. Analysis of each candle and how to react, keep quit and significance of each candle during the trade is extremely helpful for me. Please do video on 'order flow analysis'.

  19. Very great video from you again. I traded the similar concept yesterday on TataGlobal. Exited with 0.75% profilt. Ji, when are you releasing the short term trading for working professionals which you said. Can't wait to learn from you more. Thanks. God bless.

  20. Ji, regarding order flow software, please share some software. Its connected to market profile I guess. Have seen a software of order flow from Bell TPO. Felt its costly for retail beginners. Kindly make a video on the same. Would help us. Thanks.

  21. I am having a doubt. While shorting the put side market rises. What happens when short covering happens on put side. Will the market rise or fall.

  22. sir plz order prise ke bare me bhi ek video jarur banaye taki pura samaj me aaye & thanks for sharing your knowledge and experience thx

  23. Sir very nice.. stock selection criteria? please make a separate series on order flow data.. we r unable use that data..

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