maybe this will help as there is no one way to scalp/daytrade price action
along with sentiment:
Investopedia explains Price Action
No two people will analyze every bit of price action the same way, and that is why a lot of traders find the concept of price action so elusive. Quite literally...
The way I view price action in simple terms is
first sentiment. Has the market up on bad news (bullish),
down on good news (bearish). up on good news (bullish) etc..
2nd the price action of the previous few days leads me to believe that will continue
unless some catalyst shakes the market out...
Revealed: 50 oil tankers loitering off British coast as they lie in wait for fuel price hikes
Last updated at 9:56 AM on 20th November 2009
http://www.dailymail.co.uk/news/worldnews/article-1229337/Petrol-prices-Oil-tankers-loitering-British-coast-lie-wait-price-hikes.html