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**Creator: ** Rayner Teo
**Source: ** https://www.youtube.com/watch?v=Z6lKUPUEYJQ
**Type:** #litnote 
**Topics:** [[💹Stock Market]] [[Other/Obsidian Starter Vault(Second Brain)/003 RESOURCES/Trading]]

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# Price Action Trading Myths
- Support and resistance is not price action, it is a component of PAT, not itself
- PAT is not candlestick patters, it's just a component of PAT
- It's not naked trading. It can be used with other indicators and technical signals
- It can also be used in small time frames not only large time frames.


# [[Other/Obsidian Starter Vault(Second Brain)/003 RESOURCES/Price Action]]
It helps you identify the market conditions so that you can adapt to the right trading strategy at the right time.
- What is the current market condition? (uptrend/downtrednd/range?)
- Where to buy where to sell (support and resistance, moving average, trendline, etc.

# Bullish Patterns
- Hammer
- Bullish Engulfing 


# Exit if You're Wrong
- At a level where your setup gets invalited
- Set stop loss below 1ATR
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