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Price action is a popular trading strategy in the share market that focuses on analyzing and making trading decisions based on the movement of prices on a price chart. This approach disregards the use of indicators or oscillators and instead relies solely on the study of price patterns, trends, and key support and resistance levels. In this explanation, we will explore the key elements of the price action strategy, including the selection of timeframe, entry points, and the importance of identifying demand and supply zones.

1. Timeframe selection: The timeframe chosen for research and analysis plays a crucial role in price action trading. In this case, a 15-minute timeframe has been selected. This means that each candlestick on the chart represents a 15-minute period. This timeframe allows traders to capture shorter-term price movements and make more frequent trading decisions.
2. Entry at 5-minute candle: Although the research is conducted on a 15-minute timeframe, the actual entry into a trade is made based on the formation of a 5-minute candle. This provides a more precise entry point and helps to reduce the impact of market noise and false signals.
3. Demand and supply zones: The core concept of price action trading revolves around identifying areas on the chart where the demand for buying or selling is likely to be strong. These areas are known as demand and supply zones. Demand zones are levels where buying pressure exceeds selling pressure, leading to potential price increases, while supply zones represent areas where selling pressure is higher, potentially causing price declines.
4. Buying in demand zone: Once a demand zone is identified, traders using the price action strategy will look for buying opportunities within that zone. The rationale is that buying at demand zones increases the probability of entering a trade when the price is more likely to reverse and move upward.
5. Selling at supply zone: Similarly, when a supply zone is identified, traders will search for selling opportunities within that zone. Selling at supply zones increases the likelihood of entering a trade when the price is expected to reverse and move downward.
6. Buying above previous two candle high
   To determine an entry point for a long (buy) trade, price action traders will wait for the price to surpass the high of the previous two candles. This condition provides confirmation that the momentum is shifting upward, increasing the probability of a successful trade.
7. Selling below previous two candle low: Conversely, for short (sell) trades, traders will wait for the price to fall below the low of the previous two candles. This condition confirms a downward shift in momentum, enhancing the likelihood of a profitable trade.
8. False breakouts: Price action traders often prefer higher timeframes, such as 15 minutes, because they tend to provide more reliable signals and reduce false breakouts. Lower timeframes, such as 5 minutes or less, may exhibit more erratic price movements and false signals, making it challenging to accurately identify genuine trading opportunities.
9. Increased accuracy with demand and supply zones: By focusing on demand and supply zones, price action traders aim to increase the accuracy of their trading decisions. These zones represent areas of significant buying or selling interest and can act as strong support or resistance levels. Trading near these zones provides a favorable risk-reward ratio, as the potential for price reversal is higher.

In conclusion, the price action strategy in the share market involves analyzing price patterns, trends, and key support and resistance levels to make informed trading decisions. By selecting a 15-minute timeframe for research and analysis and entering trades based on the formation of a 5-minute candle, traders can refine their entries and reduce false signals. Identifying demand and supply zones and trading within them enhances the accuracy of trading decisions, with buying occurring above the previous two candle high and selling below the previous two candle low. This approach aims to take advantage of price reversals and ride the entire trend gaining good returns.