price action is king price action
trading is smart
you should be looking at price action to
see what it does because there's so many
indications of things that price action
does that will like once you understand
the different things with price action
i've made a few videos on price action
and here is just another thing that you
can use in your arsenal of price action
trading price action
[Music]
welcome back to the channel everybody my
name's artie and this is the moving
average a show where we discuss
everything day trading to keep you
profitable on a consistent basis so as
we continue along our journey of me
making a bunch of price action videos i
want to show you something that i
recently saw in the price of bitcoin as
well as how it works in confluence to
the last video that i made about order
blocks price action and order blocks
you're gonna make some money okay so
looking at the price of bitcoin recently
on the 15 minute time frame zooming out
these are the areas that i marked up as
order blocks for the millionaires not
the billionaires so i want to show you
something right here that's quite easy
to spot but takes a lot of patience to
wait for it to play out this is what's
known as a rounded top you see how it's
nice and arched and beautiful and
whatever but then you got to look at the
rsi it's like the key indicator to show
you
what's actually happening here so the
price seems to be consolidating at this
level making a tiny bit of an arch but
if you look at the rsi it's literally
just going down and down and down
getting to a point where it's so low on
the rsi and it's like the perfect setup
trap for the traditional day trader like
the average person like you and me
unless you know this so as i told you
guys before don't use the rsi as
overbought and oversold because you can
really get burned because a market can
stay oversold or overbought for a very
long period of time and buying when it's
that low can really screw you because it
can continue to cascade down and when it
does that it does it in large increments
so at this point right here on the rsi
we're at 26 below the traditional like
30 level now when you see something like
this you see this rounding of the price
you see this massive drop in the rsi and
what you already know about order blocks
you can see that this would be your next
price target it is probably not going to
push through this order block with what
you're seeing going on so theoretically
this is what the trade would look like
when you're setting it up and i want to
explain why because this is a much
higher time frame you are not scalping
this you are holding this trade for days
and days and days
this is a swing trade with price action
and order blocks so with large swing
trades you are actually going to have a
massive stop loss the stop loss on this
is 1
571 points on bitcoin your profit target
is 5
600 points targeting this next order
block now in a more consistent less
volatile market it would do something
like this where it takes forever to get
to that price point and eventually it
will play out who knows if it's going to
be a week or a month i don't know but as
long as you set your trade and forget
about it knowing that you've done your
analysis you know that there's an order
block right here and once it gets here
the price is potentially going to push
back up so as you can see with this
rounded top right here and your price
target being that order block it has
still not hit but i want to direct your
attention to the rsi that whole rounded
top was making the rsi go lower and
lower and lower and each one of those
small pullbacks to the upside
massively overbought the market and it
kept cascading down so even though the
rsi was at the 70 level here and 68 here
it kept going further and further and
further down every one of those
pullbacks is going to give it a little
bit more momentum to the downside so
even though we haven't hit that price
target of that order block you are still
massively in profit here but this is why
i don't swing trade because i am not
capable of holding a trade this long
it's literally impossible for me anyway
some people love it some people can just
set a trade and like in two and a half
weeks it'll play out but so far it's
been four days and one hour on this
trade
okay so as you guys probably noticed i
recorded that video on march 7th monday
last monday
and i'm editing it now and gonna post it
today so i just wanted to show you how
this trade actually played out so
this was the order block that i had
previously drawn four days one hour
nothing has changed i didn't change
anything
and
literally it just like
and then rejected off of that quite
nicely as a matter of fact and from that
order block area it went all the way up
to 42
615 but can we just take a moment and
appreciate how perfectly
that hit that order block now back to
the video so if you guys want to check
out the other videos that i've made on
price action trading you can check out
that playlist right here and if you
learn something valuable from this video
you like the way that i teach make sure
you're dropping a like on these videos
to help my self-esteem and the youtube
algorithm thank you so much for watching
and we will see you in the next video