Creator: ** Rayner Teo **Source: ** https://www.youtube.com/watch?v=Z6lKUPUEYJQ **Type: #litnote Topics: [[ 💹Stock Market ]] [[ Trading ]]

Price Action Trading Myths

• Support and resistance is not price action, it is a component of PAT, not itself
• PAT is not candlestick patters, it’s just a component of PAT
• It’s not naked trading. It can be used with other indicators and technical signals
• It can also be used in small time frames not only large time frames.

Price Action

It helps you identify the market conditions so that you can adapt to the right trading strategy at the right time.

• What is the current market condition? (uptrend/downtrednd/range?)
• Where to buy where to sell (support and resistance, moving average, trendline, etc.

Bullish Patterns

• Hammer
• Bullish Engulfing

Exit if You’re Wrong

• At a level where your setup gets invalited
• Set stop loss below 1ATR