Daytrading and forex training for forex day trading, stock market trading and emini trading. In this video youll learn tape reading price action trading strategies. Ill demonstrate it using the S P 5. E minis. Tape reading Forex doesnt work the same way because spot Forex shows tick volume and doesnt trade through a central exchange. Watch Training Day Download' title='Watch Training Day Download' />Build a powerful, secure ecommerce storefront with our Online Store Software. Sell, promote, and grow with the 1ShoppingCart. Online Store Builder. Watch Training Day Download' title='Watch Training Day Download' />You can definitely use this price action analysis for tape reading stocks and futures. Enjoy this brief price action tutorial video about trading the tape, and consider adding it as a part of your current trading methodology. Was this video on tape reading price action trading strategies helpful to you Leave a message in the COMMENTS section at the bottom of this page. 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Provides the individual investor with recommendation services, day trading, swing trading and active investing educational course, and tools. VIDEO TRANSCRIPTIONWelcome to this video on tape reading price action trading strategies. What we have here is the S P 5. E minis. Its a 2 minute chart on the left and time and sales over on the right. And you see a couple of block trades just came across there. I have that set to be 5. And we just broke down through a support level here or previous low. Heres another block order over on the right, 1. Now Im fast forwarding here, prerecorded this so that I could edit this down to a timely manner, because I always try to keep these videos under 1. TAPE READING PRICE ACTION TRADING STRATEGIESTheres some selling going on, block order 5. Those violet colors meant that the orders came in at below the bid. So theres more block orders selling, a 1. Now theres another block order 4. And if its green, its at the offer, and you saw the violet, thats below the bid, and if its light green, it will be above the offer. Those will show some dramatic, people willing to pay little more, or maybe theyre getting slippage, but you can see we got 3 big block orders there. This is one of my favorite tape reading price action trading strategies. Normally when I trade, the E minis, I set the block trade at a 1. Ok, move forward here again to save some time. I added the volume list around at the bottom. Now we got a big volume spike here. And that below again. The low I put the black line on there, you can see breaking through resistance. TAPE READING MADE SIMPLEWhats happening here is we got a lot of selling coming in, look at all the sell orders there. And by the way I have set it up so it doesnt print anything below 1. Couple more violet orders coming in, we making sure people are meaning people are really willing to even, get a slippage on those orders. Now were coming back up. There are some green orders coming back down. Remember we got all these sell orders. Here is the point, of all these sell orders, theres another block 5. And so now what they are doing is they are probably shorting into resistance here. They are thinking, okay we broke through support, we come back to resistance and so well take this short here. Right we fast forward again. Well guess what, now we broke up through that resistance and we have come back up. And now we got some of the light green prints there. So that means that they are trading above the offer. So now they are willing to get some slipperish there. TAPE READING STOCKSPrice action has broken above that previous support. We got broke below it and now we broken back above it. That break out trade which is basically what probably a lot of those people are doing. They were trading a breakout trade to the downside. And it didnt work. It failed. And so this is very typical. BTW, even though Im showing this using the S P E minis, this works well with tape reading stocks too not spot Forex though. This is why when I watch price action patterns, I watch it along with, price action in this case meaning watching the tape. This is called tape reading trading. You know theres other aspects of tape reading. At this point you could see that yes weve really reversed off of that bottom. And now what we are doing is we are breaking through a little resistance, the previous swing high, and as we do that, we got a block trade coming in here at the 7. And we are just continue to watch the tape, and see what happens. USING VOLUME WITH PRICE ACTION AND TAPE READING TUTORIALHeres another thing to consider when using tape reading price action trading strategies. Theres a lot of buying coming in, lot of green. And again we are getting above this resistance level. One of the points here, as we fast forward again, is and now weve broken above resistance. And we got a block trade there, 5. And some more green coming in. But one of the points is that you notice we had a lot of big orders, oh we got another volume spike. Okay, thats what we are looking for. Skins Season 6 Episode 6. So thats what I was going to say. But these volume spikes, this is where I look for exhaustion. And I look for people to get trapped. We saw the volume spike histogram on the previous low, and now we are seeing it here at this high. And I actually, you know the thing you might think is, well if we got the big orders coming in, big contracts, hundred contracts, 2 hundred contracts, we should trade in that direction. Not necessarily. Just because theres people who trade with a lot of money, doesnt mean that they are right all the time. They get stuck, they get trapped just as much as anybody else. TAPE READING TRADINGMy point is you cant rely on only using this tape reading technique to trade with the smart money because the smart money doesnt always make money. And the way they trade is you know rather sophisticated, so they might make money overall. But that doesnt mean that they are right this time on this trade. They get faked out, they trade breakouts like this. Watch One Night With The King Online Mic. See I dont trade breakouts, and its for this very reason is because breakouts fail too often. I actually look to fade the breakouts. I can use that using these tape reading price action trading strategies. We are looking for people to get stuck, people to get trapped, even the big traders, and trade against them. And these volume spikes on the histogram can really help you with that. Thats the time to look for those false breakouts. And thats kind of the key here, the lesson today for this trape reading tutorial. TAPE READING LEARN HOW TO READ THE TAPE FOR DAY TRADINGBut its not only that. You know a lot of people know that. Those are exhaustion bars there. I also want to see traders getting stuck. Because that adds to the probability that that breakout is going to fail. Thats getting in too late. In my opinion if you are trading breakouts, you are paying retail. I like to get in before the breakout and pay wholesale. So dont know about you but Id rather buy low and sell high. Some people say buy high and sell higher. I totally disagree with that. Especially in todays markets. You might have been able to get away with that years ago but not today. BTW, if youre interested in the indicator that I use personally for very precise entries and exits. Im happy to share that with you. Just send me an email at BarryTop. Dog. Trading. com, and Ill show you how to get access to that indicator. What did you think of this tutorial on tape reading price action trading strategies Enter your answer in the COMMENTS section at the bottom of this page. PLEASE PAY IT FORWARD BY SHARING THIS VIDEO ARTICLE ON FACEBOOK OR TWITTER by clicking one of the social media share buttons. FREE GIFT Also Im giving away one of my favorite trade strategies that works in trading the markets. Just fill out the yellow form at the top of the sidebar on the right. Once you do that, Ill personally send you an email with first video. Those interested in tape reading price action trading strategies also showed in interest in this video http www. Subscribe to my You. Tube Channel for notifications when my newest free videos are released by clicking here https www.