January 2


Best Day Trading Strategies Using Price Action Patterns PDF in 2023

By John Leonardo

January 2, 2023

One of the Best Day Trading Strategies Using Price Action Patterns PDF


For me, price action trading starts with knowing the proper price action patterns to search for on the charts. That’s why I’ve introduced the day trading strategies using price action patterns PDF. In it, you’ll discover one of the most profitable chart patterns you can look at daily for different currency pairs. Price action alone is insufficient, so I’ll introduce other confluences that help you determine high-probability trading setups.

Price Action in Forex

Price action is decisive in finding an entry on lower and higher time frame charts. The day trading strategies using price action PDF will show how lower time frames, used for day trading, require more significant confluence than time frames such as the daily.

I’ll briefly highlight the necessity of backtesting for day trade patterns to become second nature and gain the certainty necessary to trade your plan. These patterns must also be recognized immediately to enter a trade at the optimum time without any hesitation. I also suggest restricting yourself to the 1hr and 4 hr time frames for day trading since these are more accurate than the lower time frames.

This seeking out of high-probability trades can be reworded similarly for different time frames. It would help if you approached the time frames to be chosen like we should close works in general, taking only the high-probability trading setups. Take only the transactions occurring on the time frames that provide the highest probability, the 1hr and 4hr. It’s your choice to try lower time frames, but you must do your backtesting to see if they are worth it for a particular pair.  

Price Action in Forex Trading Needs Confluence

What’s a confluence? A confluence is another chart or fundamental news feature supporting the price action. Confluences include round numbers, Fibonacci retracements, candlesticks support/resistance on the current and higher time frames, overbought/oversold regions, and sentiments due to fundamental news.

Round numbers are numbers such as those shown below. They end in 50 or 00 and provide an added area of support or Resistance. The 00 round number, in particular, offers strong confluence.

day trading strategies using price action patterns PDF

Support and Resistance are well-known; my next article will deal with these in more detail. Suffice it to say that the patterns I mention below should coincide with local support/resistance and even better with support/Resistance from a higher time frame, such as the daily.

Applying a collection of these confluences together, especially with the fundamental news driver, will result in a higher trade probability. Building the habit of patiently waiting for these higher-probability trades will result in a winning strategy over time.

 Day Trading Strategies Using Price Action Patterns PDF

The following day trading strategies using the price action patterns PDF are only a few examples of various strategies that can be used as part of a winning strategy. Notice that I mentioned “part” of a winning strategy. 

Again, factors such as confluence must be considered before applying the pattern. You could use the pattern as a trend reversal or part of a trend continuation strategy. The examples shown in the PDF, accessible through the lightbox or link below, will only apply to a trend continuation. If you’re interested in an online trading course that teaches this confluence, check out the following article: What are the Best Online Trading Courses? Part 1

The Importance of Backtesting

You must apply backtesting for each currency pair and time frame using the day trading strategies using price action patterns PDF accessible through this page’s lightbox or link below. Only then will you see how the patterns in the PDF work and under which confluence constraints? Only then can you apply the correct risk-reward ratios appropriate for each time frame and currency pair.

A typical risk-to-reward is 2:1. Using a Fibonacci extension; I’ll provide a backtest with approximately a 2:1 risk-to-reward ratio. However, other options exist for placing an exit target; you can backtest your own using the same price action pattern as an entry signal.

Backtest each pair you plan to trade before trying them with real money and continually review this backtesting. Similarly, backtest each time frame individually and compare your results. Start with at least two years of data to give you at least 50-100 trials.

On MT4, you can scroll one bar at a time as listed in the Day Trading Strategies Using Price Action Patterns PDF accessible below. The instructions are for a PC running MT4 only. It doesn’t work on a Mac unless you have the MT4 running on a virtual machine.

The one characteristic that cannot be backtested is the fundamentals because they occur on a real-time basis and are too difficult to access in back history. However, they will only enhance the exactitude of the systems. How this can be done requires more articles to address it. Please start with the theme I’ve listed here.

The price action trading strategies PDF will be emailed to you by subscribing through this page’s post footer below.



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John Leonardo

About the author

John Leonardo invests and trades in forex and crypto regularly. He publishes his articles on trading/investing regularly on both the blog and youtube.

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  • I’d like to express my gratitude for the insightful and detailed information you’ve provided here on trading strategies based on price action patterns. In recent times, I’ve been focusing on expanding my knowledge of trading patterns. However, this can be challenging because we are still in the beginning stages. This content of yours will undoubtedly be of assistance to me. Continue to post in the same manner. I will most certainly pass this along.

  • The first i want to do is try to share this great article with some of my friends. The website is really nice. and i have learnt something tangible from this well detailed article on some of the best trading strategies to use. in 2020. trading online seems to the order of the day due to the effect of covid 19. thank uyou for this tips

    • I wouldn’t delve into trading in hopes of making up for lost revenue due to the COVID 19 crisis. Start on a demo account by doing some backtesting on the longer time frames focusing on areas that seem to show trending price action. You can use the price action pattern I highlight in the PDF below in conjunction with significant support and resistance levels on higher timer frames.

      I would also include pay attention to longer wick candles at these areas of support and resistance as they are a giveaway of possible trend reversals. Include with these the reversal candlesticks I highlight in this article: https://andiamolireforex.com/candlestick-patterns-for-day-trading-pdf/

      Also, make sure you’re buying in oversold regions and selling in overbought regions. The stochastic divergence indicator can help with this.

  • I can tell that this is a really good one. I should first commend the input of effort in making this superb website with nice features and also writing an article on best day trading strategies. using the price action pattern is new to me and i am glad that this is really detailed. thank you very much for this post.

    • Since you’re new it’s best to keep it simple when using technical analysis strategies. Look for a bullish or bearish trend on an upper and then lower time frame, say Daily time frame, and then the 4 hr. After locating the trend focus on the lower time frame and find support zones on an uptrend and resistance zones on a downtrend.

      Look for retracements towards these support/resistance zones. At these locations you can then look for price action using Japanese candlesticks. You can look for outside bars, pin bars, indecision bars, or long wick candles. The best price action I’ve found is what is mentioned in the Day Trading Strategies Using Price Action Patterns PDF downloadable below.

  • This is really nice I am a bit new to trading, I have just been doing it for 4 months now, although I am new to the system I am already catching up with some of the terminologies, one that has been giving issues is price action patterns and after reading this i think my problem would be solved i have already subscribed to get the pdf…thanks a lot for sharing

    • You’ll need more than just price action. You’ll need to use support and resistance, trends, higher time frame analysis. This day trading price action Pdf includes a pattern that works best in conjunction with the trend and has been tested on a particular time frame and currency pair. You’ll have to test it for different pairs and different time frames.

      I would use it in conjunction with those high time frame trends consistent with the lower time frames. The fundamentals can help narrow down what the best trending pair might be.

  • Price action patterns have been one my major constraints when it came to trading I have tried my best to understand it, but to no avail, I would subscribe to pdf maybe I would be able to get a better understanding from reading it thanks a lot for sharing this helpful article I hope it helps others to

    • Whether it’s for day trading, scalping, or swing trading this price action strategy has a high win rate, but only when taken with the trend on both the entry and upper time frame. If you’re using this for day trading I suggest you use it with support and resistance zones for exits and entries. Always confirm the uptrend or downtrend on 2 successive time frames.

  • I can tell you are expert in this field. I am at the point of my career where I want to become an expert in stock exchange and trading. I’ve never been live on Forex, but only used virtual account to get to know the process better. No one have told me about the importance of backstaging. First time I read its importance in your article. I am thankful for this amazing insight.

     It will do much for me when I go live. I will bookmark your website for future posts.

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