5 AM Trading Club

Day 1 Session

Mindfluential Trading
Co nten ts
Day 1 1 What is Price Action Trading
2 Anatomy of Candlesticks
3 Volume Analysis
4 All about Support & Resistances, Demand & Supply Zones
5 Trends & Trend Lines
6 Chart Phases
7 Putting it all together

Day 2 8 GAPS
9 Effective Chart Patterns
10 Assignment Discussions
11 Master Breakouts & Breakdowns
12 How to identify Fakeouts & Trade Them
13 Playback Market Simulations

Day 3 14 Plotting important levels on the chart.

15 Understanding Trading View Tools & How to use the free trading view version in the
best way possible.
16 Central Pivot Range - CPR
17 EMA & SMA secrets
18 Entry / Exit Strategies
19 How to effectively place the stop loss & trail it.
Co nten ts
Day 4 20 Risk Management - Risk Reward & Position Sizing.
21 Trading Psychology.
22 In-depth Analysis & solutions on Trading with Emotions.
[ Fear / Greed / Regret / Hope / Frustration / Happiness ]
23 Bias Trading - An underrated concept.
24 Why most of the traders have a hard time becoming profitable & How to gain trading Edge
in Trading.
25 Trade Like a Monk: Trading Affirmations & Trading Meditation

Day 5 26 How to Select Stocks for trading.

27 Sector comparison with stocks & Index comparison.
28 Volume Profile Analysis
29 Divergence Concept
30 How to use Institutional Zones & Alert System
31 How to Maintain Effective Trading & Emotional & Review process

Day 6 32 Using Fibonacci levels in the right way to find high probable trades
33 Heikin Ashi candlestick hacks in piking the stocks
34 Detailed session on Futures & Options - covering Basics, Option Chain Analysis, Premium Decay & more.
35 How our Premium Discord Community works.
1
What i s Price A ct ion
Tradi ng?
ITC Naked Daily Chart
ITC Daily Chart - Price Action Analysis
ITC Daily Chart with Multiple Indicators - Bolinger Bands/RSI / MACD/MAs
 Glimpse of Trading View

Timeframes
Price line/candlesticks
Settings
Timezone
2
Anatom y o f
Candles ticks
Candlestick Analysis
Topic Understanding the Structure of the Candlesticks

Candlesticks are the soul of price action as these patterns that forms tell you a lot about what is going on in that specific time
period in terms of buying and selling in the market.
Charts in multiple timeframes
On looking at a candlestick we need to identify 2 things. One is
which kind of candle it is and how much intensity it has.
Candlestick Analysis Candlesticks tells a story and are reflection of what "buyers" and "sellers" are doing

Our Focus Combining candlestick patterns with key levels

Pattern 1 - Long wick candlestick

Long top wick with respect to Price Action tells us that "buyers tried to push the price higher but failed, causing the wick to stick out"

Candlestick patterns form at key levels as a result of profit-taking, new positions being opened, or a combination of both.
Here the key level is the purple zone which has acted as a resistance (meaning sellers are present at that zone) previously and once the price tries
to reach that point again, we need a confirmation candle to short, a good confirmation is shown by forming a long red top wick candle as shown
in the image. It is an indication of a shorting opportunity. The same applies to a long opportunity at a support zone with a long bottom green wick
Pattern 2 - Inside Bar Candle Wicks Sticking Out Inside Bar Candle

High & Low of the Inside

candle is completely covered
by the Preceding candle high
and Low

Inside Candle with respect to Price Action tells us that "Price failed to make a higher high (in an uptrend) which shows momentum loss occurring"

Here the key level is the grey zone which has acted as a resistance and buyers have no power to fight with the sellers means still the sellers are
active and the inside candle confirms the bearish situation. It is an indication of a shorting opportunity. The same applies to a long opportunity at
a support zone with a long bottom wick
Pattern 3 - Momentum Candle & Engulfing Candles

Momentum candle with respect to Price Actions tells us that "either new buyers or new sellers entered at the support / resistance zones which
provides a additional confirmation for the price reversal, or trend reversal"

Use the momentum candle after any rejection candle, such as after a long wick candle or after inside

In the above image, after the long wick candle rejections, a momentum candle gives the confirmation for shorting opportunity. Same applies for a
long opportunity at a support zone with long green body after rejection candle.
Pattern 4 - Multiple Rejections

Multiple Candlestick rejections with respect to Price Action tells us that "price tried over and over again to push through the level but failed"

One should always look at the candlesticks from both buyer's and sellers' perspectives. Let's analyze the above-highlighted area in the chart from
both perspectives.
a) Sellers who shorted before noticed that it is a key level of support is good to close their position because of price failing to push lower due to
the multiple rejections.
b) Buyers noticed that this level is holding the price strong and thinks "this is a good level to long due to sellers failing to push price lower"

Double action triggers reversal, which means the combination of sellers closing their positions & buyers opening new positions causes a reversal to
occur.
Pattern 5 - Shrinking Candles

Shrinking candles with respect to Price Action tells us that "the buyers number of buyers keep reducing as the price goes up and it indicates that
there could be a price reversal happening"

Shrinking candle followed by a long wick candle is a indication that price cannot passthrough the level and is having more chance of getting
reversed.
Example 1 Combining candlestick patterns together to improve trade quality

When we get to see a combo pattern like this where you get to see the shrinking candles, candle colour change & long wick candle rejection, it is
a high probable trading opportunity. There is a short opportunity in this case. Same applies for a long opportunity with is having long rejection
candle at the support, colour of candle changes form red to green and the red candles keep shrinking as it reaches the particular support zone.

in the above chart, we can see that when the TCS price approach the previous resistance zone, it formed a shrinking candles, with with top wick,
and also bearish momentum candle was formed which confirms that the level rejects the price. It is a goo shorting opportunity.
Example 2 Combining candlestick patterns together to improve trade quality

MOMENTUM
CANDLES

SHRINKING CANDLES WICKS STICKING OUT & COLOUR CHANGE &

INSIDE BAR

Combining candlestick patterns at key levels is a good way to find out potential trade opportunities. Whatever you have understood till now is just
a small part of whole price action ocean. In order to take the trading to the next level you need to keep adding to your price action multiple
concepts, called, Multiple time frame analysis, Intraday confirmation, Market condition, Supportive trading tools like CPR etc, Price action
patterns, Demand & supply zones etc.
3
Volume
Analy sis
4
Support / Resi st an c e Lev e ls
Demand & Sup ply Zo ne s
Every moment is unique in the market

You should not trade just based on support and

resistance levels. There are more factors to look into.
5
Trend s &
Trend Lin e s
Higher Highs / Lower Highs are also called Swing Highs
Higher Lows / Lower Lows are also called Swing Lows
 "Price wont always move smoothly in trending
In a ideal uptrend, price makes higher highs and higher lows markets but this is what you can look for a
reference for an ideal trend movement"
In a ideal downtrend, price makes lower highs and lower lows
Primary Up Trend
Monthly / Weekly / Daily
Secondary Trend
Daily / 4 Hrs / 1 HR
 Minor Trend
30 Min / 15 Min / 5 Min
Trend Lines
Trend lines are drawn connecting the swing highs & swing lows. They act as support &
resistance but also a break in trendline can signal a possible trend change

"You don't enter trades blindly

just because price has touched
a trend line, you always wait
for price action"
 How to draw trend lines effectively to adapt to all the price movement.?

Follow these concepts for drawing effective trend lines

1 Treat Trend lines as "Areas" 2 Need a minimum of 2 touches

Just like support and resistance they are "areas" The more touches the better, but more touches do not
meaning use them as guidance for your overall
analysis.
TREND guarantee that it will hold the next time around
(make sure to keep your swing highs & lows
LINES contained inside the trend lines)

Concepts to follow

3 Don't force trend lines 4 They may be Imperfect

If they are obvious and help your analysis draw They are often choppy and imperfect (just
them, but if not leave them out because there won't like the market)
always be suitable price movement where you can
draw a trendline in
A break of trend line can signal a "possible" trend change

"You don't enter a trade once you get

a trendline break, you need to pair it
with another price action factors"
When the price falls/rises sharply, you won't always be able to apply a trend line onto the trend
because the price movement won't be suitable for it as shown in the chart below.
 How to draw trend lines effectively to adapt to all the price movement??

Imperfect trendlines are those where you won't be able to connect all the swing highs and swing lows when drawing
trend lines. In such scenario draw trend lines in an area that gets most amount of touches, leave the rest as shown below.

"Draw your trendlines in an

area you can get most amount
of touches. The touch can be
of body or the wick"
 How to draw trend lines effectively to adapt to all the price movement.

Imperfect trendlines are those where you won't be able to connect all the swing highs and swing lows when
drawing trend lines. In such scenario draw trend lines in an area that gets most amount of touches, leave the
rest as shown below.

"Don't think too hard about

this since we use trend line as
guidance and treat them as
areas not a solid line"
 How to use trend lines in combination with price action for trend trading and reversal trading.

1. Trend Trading with trend lines

Many types of traders are watching this "AREA OF CONFLUENCE"

1. Support & Resistance traders watching this area for shorting opportunity.
2. Trendline traders are watching this area for short trade opportunities.
3. Price action and candlestick traders watching this area for short trade opportunities.
4. Confluence traders like us watching this area knowing all these traders are here.
Now lets analyze this in depth as to what should be going through your mind as a trader. This is very important, this extra analysis
differentiate between average trader and exceptional trader
5 6

When you practice doing this kind of in-depth analysis, you will end up identifying high probable trades, you don't need many average
trades to be profitable, just a few high probable trades with proper risk management to be a profitable trader.
 2. Reversal Trading with trend lines
Look for key price action patterns that have formed "Right Before" a trendline break.

There are many kinds of price action patterns you can look for such as top & bottoms, wedges, triangles, candlestick analysis, etc.

Reversal Trading in An Uptrend

"In a downtrend - look for double bottom at key support"

Reversal Trading in a Downtrend

"The reason we look for price

action patterns right before a
trend line break is because we
are going against trend and
we must see momentum loss"
6
Chart P has e s
Chart Phases
7
Put ti ng Ev eryt hing
Toget her
Lets practice today's price action learnings on IGL chart
q&A Session
 End of day 1 Session
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Mindfluential Trading
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