14-Day Price Action Challenge

Transform Your Trading Skills

Daily Exercises and Real Market Application

Pattern Recognition Volume Analysis Multi-Timeframe Live Trading

🎯 What You'll Learn

📊 Daily Structured Learning

Complete 14-day progressive challenge with daily exercises, pattern recognition drills, and skill building activities designed for systematic mastery.

🎯 Pattern Recognition Mastery

Master identification of key chart patterns including breakouts, reversals, consolidations, and trend continuation patterns in real market conditions.

📈 Volume Analysis Integration

Learn to combine price action with volume analysis for enhanced timing, confirmation signals, and avoiding false breakouts in live trading.

🔍 Multi-Timeframe Analysis

Develop skills to analyze multiple timeframes simultaneously for comprehensive market view and improved trade timing across different horizons.

💪 Real-Time Application

Apply learned concepts in live market conditions with practical trading scenarios, risk management, and performance tracking systems.

Your Challenge Progress

Days Completed: 0/14
Skills Developed:
  • Pattern Recognition
  • Volume Analysis
  • Multi-timeframe Analysis
  • Live Trading

Challenge Overview

The 14-Day Price Action Challenge is an intensive, structured learning program designed to transform novice chart readers into confident price action traders. This challenge builds upon proven methodologies used by successful traders worldwide, adapted specifically for the Indian stock market environment.

Daily Learning Objectives

Each day of the challenge focuses on specific skill development with measurable outcomes. The progression is carefully structured to build confidence and competence systematically:

Required Tools and Setup

Essential Tools:
  • TradingView Account: Free version sufficient for most exercises
  • NSE/BSE Real-time Data: Available through most Indian brokers
  • Chart Analysis Software: TradingView, ChartIQ, or broker platforms
  • Practice Journal: Physical or digital notebook for observations
Recommended Setup:
  • Dual monitor setup for multi-timeframe analysis
  • Reliable internet connection for real-time data
  • Quiet study environment for focused analysis
  • Daily 1-2 hour time commitment

Success Metrics and Evaluation

Progress is measured through both subjective self-assessment and objective skill demonstrations. Success metrics include:

Week 1: Building Foundation (Days 1-3)

Day 1: Understanding Market Stages
Learning Objective:

Master the four stages of market cycles and identify current stage of any stock. Understand the relationship between price action and market psychology.

Practical Exercise:
  1. Open TradingView and select 5 different Nifty 50 stocks
  2. Identify the current market stage for each stock (Stage 1: Accumulation, Stage 2: Uptrend, Stage 3: Distribution, Stage 4: Downtrend)
  3. Mark key characteristics on charts: EMAs positioning, volume patterns, price structure
  4. Document your analysis with screenshots and reasoning
Chart Example Reference:

Asian Paints - Stage 2 Identification

Key indicators: Rising EMAs (20, 50, 200), Higher highs and higher lows, Volume expansion on up moves

Self-Assessment Criteria:
  • ✓ Can identify all 4 market stages clearly
  • ✓ Understands EMA positioning for each stage
  • ✓ Recognizes volume characteristics
  • ✓ Can explain reasoning for stage classification
Day 2: Trend Identification and Structure
Learning Objective:

Develop precision in identifying uptrends, downtrends, and sideways markets. Learn to draw accurate trendlines and understand trend strength indicators.

Practical Exercise:
  1. Select 10 stocks from different sectors
  2. Draw trendlines connecting significant swing highs and lows
  3. Identify trend strength using slope analysis
  4. Mark potential trend reversal zones
  5. Practice on multiple timeframes (Daily, Weekly, 4-hour)
Chart Example Reference:

Reliance Industries - Trend Structure Analysis

Focus: Connecting swing lows in uptrend, identifying trend channel boundaries

Self-Assessment Criteria:
  • ✓ Can draw accurate trendlines with multiple touch points
  • ✓ Identifies trend strength and momentum changes
  • ✓ Recognizes valid vs invalid trendline breaks
  • ✓ Understands trend continuation vs reversal signals
Day 3: Basic Pattern Recognition
Learning Objective:

Master identification of fundamental chart patterns: triangles, rectangles, flags, and pennants. Understand pattern psychology and typical outcomes.

Practical Exercise:
  1. Scan through 20+ charts to find pattern examples
  2. Identify and label: Ascending triangles, descending triangles, symmetrical triangles
  3. Find rectangle/range formations with clear boundaries
  4. Spot flag and pennant continuation patterns
  5. Measure pattern targets using technical projection methods
Chart Example Reference:

HDFC Bank - Ascending Triangle Pattern

Elements: Horizontal resistance, rising support line, decreasing volume, breakout target

Self-Assessment Criteria:
  • ✓ Correctly identifies major pattern types
  • ✓ Can calculate realistic price targets
  • ✓ Understands pattern failure scenarios
  • ✓ Recognizes pattern maturity and timing

Week 2: Support & Resistance Mastery (Days 4-6)

Day 4: Horizontal Support and Resistance
Learning Objective:

Master identification of horizontal support and resistance levels. Learn to distinguish between major and minor levels based on historical price action.

Practical Exercise:
  1. Identify major support/resistance levels on 15 different charts
  2. Mark levels that have been tested multiple times
  3. Categorize levels as strong, medium, or weak based on reaction intensity
  4. Observe current price position relative to key levels
  5. Practice on both daily and weekly timeframes
Self-Assessment Criteria:
  • ✓ Identifies significant levels with 95%+ accuracy
  • ✓ Can distinguish between support/resistance strength
  • ✓ Understands role reversal (support becomes resistance)
  • ✓ Recognizes false breakouts and whipsaws
Day 5: Dynamic Support and Resistance
Learning Objective:

Learn to identify and use moving averages as dynamic support/resistance. Master the interaction between price and key moving averages.

Practical Exercise:
  1. Add 20, 50, and 200 EMAs to your charts
  2. Observe how price respects these moving averages
  3. Identify when EMAs act as support in uptrends
  4. Spot resistance behavior in downtrends
  5. Practice recognizing EMA crossovers and their significance
Self-Assessment Criteria:
  • ✓ Understands EMA support/resistance mechanics
  • ✓ Can identify trend strength through EMA positioning
  • ✓ Recognizes significant EMA crossovers
  • ✓ Integrates static and dynamic levels effectively
Day 6: Confluence and Level Strength
Learning Objective:

Develop skills in identifying confluence zones where multiple support/resistance factors align. Learn to assess level strength and probability.

Practical Exercise:
  1. Find zones where horizontal levels meet trendlines
  2. Identify areas where price levels align with moving averages
  3. Look for Fibonacci retracement confluence
  4. Mark psychological round numbers (100, 500, 1000)
  5. Rate each confluence zone's strength (1-5 scale)
Self-Assessment Criteria:
  • ✓ Identifies high-probability confluence zones
  • ✓ Can assess relative strength of different levels
  • ✓ Understands psychological level significance
  • ✓ Integrates multiple timeframe levels effectively

Week 3: Volume Analysis Integration (Days 7-9)

Day 7: Volume Basics and Price-Volume Relationship
Learning Objective:

Understand the fundamental relationship between price and volume. Learn to interpret volume patterns and their predictive value.

Practical Exercise:
  1. Apply the price-volume cheat sheet: Up+Up=Bullish, Down+Up=Bearish, etc.
  2. Identify volume spikes and analyze their context
  3. Spot volume divergences with price movements
  4. Find examples of climactic volume events
  5. Practice volume analysis on breakout scenarios
Chart Example Reference:

Godrej Phillips - Volume Surge Analysis

Focus: Volume spikes during breakouts, volume confirmation of price moves

Self-Assessment Criteria:
  • ✓ Correctly applies price-volume relationships
  • ✓ Identifies significant volume anomalies
  • ✓ Recognizes volume confirmation patterns
  • ✓ Understands volume divergence implications
Day 8: Volume Profile and Distribution
Learning Objective:

Learn to use volume profile analysis to identify key price levels where most trading activity occurs. Understand accumulation and distribution patterns.

Practical Exercise:
  1. Enable volume profile indicators on your charts
  2. Identify Point of Control (POC) levels
  3. Find Value Area High and Low levels
  4. Observe how price reacts to high-volume nodes
  5. Practice spotting accumulation vs distribution phases
Self-Assessment Criteria:
  • ✓ Can interpret volume profile effectively
  • ✓ Identifies significant volume levels
  • ✓ Recognizes accumulation/distribution patterns
  • ✓ Uses volume profile for support/resistance
Day 9: Volume-Weighted Analysis
Learning Objective:

Master advanced volume analysis techniques including VWAP, volume-weighted moving averages, and institutional volume patterns.

Practical Exercise:
  1. Add VWAP (Volume Weighted Average Price) to charts
  2. Observe how price interacts with VWAP
  3. Identify institutional buying/selling patterns
  4. Practice recognizing volume exhaustion signals
  5. Integrate volume analysis with pattern breakouts
Self-Assessment Criteria:
  • ✓ Understands VWAP significance and usage
  • ✓ Can spot institutional activity patterns
  • ✓ Recognizes volume exhaustion signals
  • ✓ Integrates volume with price patterns effectively

Week 4: Multi-timeframe Analysis & Live Application (Days 10-14)

Day 10: Multi-timeframe Trend Analysis
Learning Objective:

Learn to align analysis across multiple timeframes for comprehensive market view. Master the top-down approach to market analysis.

Practical Exercise:
  1. Analyze same stock on Weekly, Daily, and 4-hour charts
  2. Identify primary trend (Weekly), secondary trend (Daily), and entry timing (4-hour)
  3. Look for timeframe alignment opportunities
  4. Practice resolving timeframe conflicts
  5. Develop multi-timeframe trading plans
Self-Assessment Criteria:
  • ✓ Can analyze multiple timeframes systematically
  • ✓ Identifies timeframe alignment opportunities
  • ✓ Resolves conflicts between timeframes
  • ✓ Develops coherent multi-timeframe plans
Day 11: Entry and Exit Precision
Learning Objective:

Develop precision in timing entries and exits using price action signals. Learn to optimize risk-reward ratios through precise execution.

Practical Exercise:
  1. Identify high-probability entry setups
  2. Practice setting precise stop-losses based on price structure
  3. Calculate risk-reward ratios for different scenarios
  4. Develop exit strategies for both winning and losing trades
  5. Practice position sizing based on risk assessment
Self-Assessment Criteria:
  • ✓ Identifies precise entry signals
  • ✓ Sets logical stop-losses based on structure
  • ✓ Calculates realistic risk-reward ratios
  • ✓ Develops complete trade management plans
Day 12: Risk Management Integration
Learning Objective:

Integrate comprehensive risk management with price action analysis. Learn to protect capital while maximizing profit potential.

Practical Exercise:
  1. Calculate position sizes for different risk levels
  2. Practice portfolio allocation across multiple positions
  3. Develop stop-loss adjustment strategies
  4. Learn profit-taking techniques using price action
  5. Create complete risk management rules
Self-Assessment Criteria:
  • ✓ Calculates appropriate position sizes
  • ✓ Implements effective stop-loss strategies
  • ✓ Uses price action for profit-taking decisions
  • ✓ Maintains disciplined risk management
Day 13: Sector and Market Analysis
Learning Objective:

Apply price action analysis to sector rotation and market leadership identification. Learn to spot outperforming sectors and leading stocks.

Practical Exercise:
  1. Analyze major sector indices (Nifty Bank, IT, Pharma, etc.)
  2. Identify which sectors are outperforming Nifty 50
  3. Find leading stocks within strong sectors
  4. Practice relative strength analysis
  5. Develop sector rotation strategies
Chart Example Reference:

Nifty Pharma vs Nifty 50 - Relative Strength Analysis

Focus: Sector outperformance identification, leadership rotation patterns

Self-Assessment Criteria:
  • ✓ Identifies sector outperformance accurately
  • ✓ Finds leading stocks within sectors
  • ✓ Understands relative strength concepts
  • ✓ Develops sector-based trading strategies
Day 14: Live Market Application
Learning Objective:

Apply all learned concepts in real market conditions. Develop confidence in live trading scenarios and real-time decision making.

Practical Exercise:
  1. Conduct live market analysis during trading hours
  2. Identify and track 3-5 trading setups in real-time
  3. Practice making trading decisions under market pressure
  4. Document real-time observations and decisions
  5. Review end-of-day performance and lessons learned
Final Challenge Assessment:
  • ✓ Applies all concepts coherently in live markets
  • ✓ Makes confident trading decisions
  • ✓ Maintains discipline under market pressure
  • ✓ Demonstrates mastery of price action analysis

Progress Tracking System

Daily Check-in Framework

Consistent progress tracking ensures maximum learning retention and skill development. Each day requires completion of specific tasks and self-assessment.

Daily Tracking Elements:
  1. Exercise Completion: All practical exercises completed with documented evidence
  2. Self-Assessment: Honest evaluation against provided criteria
  3. Observation Journal: Written notes on key insights and challenges
  4. Skill Rating: 1-10 scale assessment of daily objectives
  5. Tomorrow's Preparation: Setup and planning for next day's challenge

Skill Development Measurement

Track improvement across four core competency areas:

Pattern Recognition (Days 1-3 Focus)
Support/Resistance (Days 4-6 Focus)
Volume Analysis (Days 7-9 Focus)
Live Application (Days 10-14 Focus)

Common Mistakes and Corrections

Frequent Challenges and Solutions:
  • Over-analysis: Stick to clear, defined criteria rather than finding patterns everywhere
  • Ignoring Volume: Always confirm price action with volume analysis
  • Single Timeframe Focus: Always check higher timeframes for context
  • Emotional Trading: Follow systematic approach even under market pressure
  • Poor Risk Management: Never risk more than predetermined amount per trade
Challenge Completion

Upon completing all 14 days with satisfactory self-assessment scores, you will have developed professional-level price action analysis skills. Continue practicing these techniques to maintain and enhance your trading capabilities.

Methodology Reference

This challenge is based on the Web Cornucopia Stock Analysis and Ranking Framework, combining proven price action techniques with systematic skill development.