The BEST Price Structure Tutorial

Introduction to Price Action and Price Structure

In this section, the speaker introduces the topic of price action and price structure. They explain that understanding the structure of price is important for identifying supports and resistances before planning trade setups.

Understanding Price Structure

• The speaker requests viewers to subscribe to their channel if they enjoy trading education videos.

• The speaker mentions that they use TradingView as their charting platform and provides links in the description below.

• The speaker uses a Bitcoin chart to explain how to identify support and resistance levels based on recent price action.

• They explain how a range is formed, with a high followed by a quick reversal, leading to a horizontal range.

• The speaker defines the overall range using horizontal lines or areas, depending on personal preference.

• They show how the top of the range was defined through retracements and rejections at key levels.

• The speaker recommends watching their video on identifying supports and resistances if viewers are unfamiliar with these concepts.

Defining Key Levels

• The speaker explains why they placed a line at a certain level based on where more touches occurred during trend finding.

• Check marks signify supports while X's represent rejections at resistance levels for visual purposes.

• Within an upper range, there were other levels of support and resistance on lower time frames.

• On smaller time frames, another level of support was identified after breaking down from the upper range.

Using Support Levels

• After breaking down from upper ranges, consolidation areas can be used as support levels.

Understanding Price Structure

In this section, the speaker explains the basics of price structure and how it can be used to identify trends in the market.

Higher Highs and Higher Lows

• The speaker explains that in an uptrend, there will be a series of higher highs and higher lows.

• A lower low is needed to confirm a trend change, but normally one of each is required.

• The speaker uses recent Bitcoin price action as an example.

Trend Change Signals

• The first signal that a trend might be changing is a drop.

• After being in a trend, it only takes one lower low to confirm that the trend is probably changing.

• A lower high after a bounce back indicates consolidation or flipping over.

Recent Bitcoin Price Action

• The speaker uses recent Bitcoin price action as an example of how price structure works.

• Identifying patterns is important when analyzing price action.

• A bearish pennant formed before the price structure broke down.

Continuing Trends with Price Structure

In this section, the speaker discusses how to continue bullish and bearish trends using price structure.

Continuing Bullish Trends

• At least one confirmed high or low and one confirmed higher high are needed to continue a bullish trend.

Continuing Bearish Trends

• At least one lower low and one lower high are needed to continue a bearish trend.

Conclusion

In this section, the speaker concludes by summarizing what was covered in the video and encourages viewers to provide feedback.

Summary

• Price structure should always come first when charting, followed by volume.

• Feedback from viewers is appreciated.

Future Plans

• The speaker plans to focus heavily on their YouTube channel going forward.

Conclusion

This section concludes the video and provides a brief description of what was covered.

Description and Farewell

• The video concludes with a brief description of what was covered.

• The speaker wishes the audience well and signs off.