An Exceptional Example of Historical Chart Study

 

Today I want to share with you some examples of the work done by Johnny, as he learns to read and trade the charts as taught in the YTC Price Action Trader ebook series.

Chapter 17 of Volume 5 of the ebook series provides a graduated development plan.

Before you trade live you must prove success on the sim.

And before you trade on the sim, you must ensure complete understanding of the analysis and trade concepts via historical chart study.

Johnny is working through that first stage, through detailed study of prior sessions in his chosen market (YM) and timeframe (3 minute TTF, 1 minute LTF).

His work so far is of the HIGHEST STANDARD. So much so that I absolutely had to seek permission to share it.

If you're just starting out in your journey as well, whether with my strategy or with one you developed yourself, set Johnny's work as the benchmark that you try to also achieve.

Imagine doing this for 100 prior sessions, before you even hit the sim. Yes, there are completely new challenges at the hard, right hand edge of the screen. But you'll be tackling those challenges with complete confidence in knowing what it is you're looking for. And more importantly, why!

The following charts have been compressed in size in order to fit on the webpage. If you click each image it will open a larger copy in a new browser window.

You'll note that they all examine the exact same price sequence, from a number of different perspectives – (a) Trend Assessment, (b) Clues and Observations, (c) Changes in Sentiment, (d) Changes in Structure, and (e) Setup Areas.

I hope you get great value out of this. If it inspires even just one of you to improve the quality of your own learning, this will have been a massive success. Thanks Johnny!

Enjoy…

 

TREND

An Exceptional Example of Historical Chart Study 

CLUES AND OBSERVATIONS

An Exceptional Example of Historical Chart Study

CHANGES IN SENTIMENT

An Exceptional Example of Historical Chart Study

CHANGES IN STRUCTURE

An Exceptional Example of Historical Chart Study

SETUP AREAS

An Exceptional Example of Historical Chart Study

LOWER TIMEFRAME CHARTS  (note: there is some overlap from one chart to the next)

An Exceptional Example of Historical Chart Study

An Exceptional Example of Historical Chart Study

An Exceptional Example of Historical Chart Study

An Exceptional Example of Historical Chart Study

 

Happy trading,

Lance Beggs

 


 

Written by

YourTradingCoach – Admin

3 Comments to “An Exceptional Example of Historical Chart Study”

  1. Victor says:

    Very good and important article!
    Thank you.
    I’m obviously one of those who are inspired!

    I need an advice. I’m learning to trade according to the following timeframe layout: 5 min. – 1 min. – 1 range. Is it sufficient to limit in this stage of learning by studying 5&1 min. charts or better at the same time to study 1-range chart?

    • Lance Beggs says:

      Hi Victor,

      There are many ways to approach this and it’s really a matter of finding a path that best “fits” you and your learning style. The following is what I currently believe to be the approach that will work for most people. It may or may not be the right approach for you.

      The key principle in following this path though is DO NOT do too much at once. Ideally, you will have ONE primary area of focus at a time.

      Start initially with study of your higher timeframe in order to learn to build the S/R framework. Then, when you’re completely comfortable with this, layer on the trading timeframe. Focus primarily on one new component at a time – trend structure, strength/weakness analysis, projection of bias forward etc, layering them on only as you become comfortable with each so that eventually your study includes all aspects (as shown in this article). And then finally incorporate the lower timeframe into the picture to work on timing entry and exit.

      So to answer your question more directly, limit your study for the first few weeks to just the 5 min higher timeframe structure. Then layer on the 1 min (one component at a time) for as many weeks as it takes to be “seeing” all these aspects quickly and accurately. And then finally add the lower timeframe chart.

      Hope that helps.
      Lance

  2. Victor says:

    Thank You, Lance. All clear. As in the textbook.

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