Here's a great email I received recently from YTC reader, Bijan: Hi Lance, I trade using YTC PAT 3min trading chart & 1min for triggers. I keep on coming across this 1min trigger over and over again (see charts below). I've never heard anyone discussing this type of trigger and wanted to get your thoughts…
I didn't trade this; I typically stop my session around 2am. But it's such a great example that I thought I should share it. (Yes… I get excited by price action!!! 🙂 Whatever you want to call this – turtle soup, pump fake, prairie dog pop – they're a great setup idea. (a) price extreme…
The following email was received from a YTC Price Action Trader reader who has had a breakthrough in understanding how price movement (or failure to move) can influence trader sentiment. Well done! The next step is being able to see this effect playing out across two timeframes, seeing how the shift in lower timeframe sentiment…
I'm a big fan of using a lower timeframe to trigger into setups identified on a higher trading timeframe. Typically that lower timeframe trigger will be based upon some kind of candlestick or micro-chart-pattern. The following was an email request I received from a trader who is developing his skills at the same concept. Mr….
Are you creating and using your market structure journal yet? If not, why not? (If you're not aware of what that is, why not? It's on my ebook page. See "The Greatest Trading Book – Ever!" at https://www.yourtradingcoach.com/ebooks/) It doesn't matter which market or timeframe you use. Market structure concepts apply to all markets and…
Three examples of really nice breakouts… Or are they? (Hopefully you didn't just take my word for it!) Here's the outcome of all three:
After several days of post-Hurricane-Sandy nothingness in the markets, finally the Crude Oil Inventories report was being released. Perhaps this will move the markets! Postponed twenty four and a half hours from it's usual release time, it's been highly anticipated at my trading desk. Thankfully it didn't disappoint (or at least the first 10 minutes…
In last week's newsletter we looked at a more enlightened way to use TA – anticipating and exploiting traps within the marketplace. Here's the link if you missed it: https://yourtradingcoach.com/trading-process-and-strategy/the-three-steps-from-ta-amateur-to-ta-professional/ Today, let's look at another example of the concept discussed in this earlier article.
When I identify a setup area based upon the structure of the market, one thing I absolutely love to see is a double failure pattern. The double failure pattern was discussed in a prior article (https://yourtradingcoach.com/trading-process-and-strategy/the-double-failure-pattern/) and involves two failed attempts to breach a significant structural area of the chart. Entry is on the failure…
Lets look at a couple of recent trades which contain a single common element. The following two trades are both an entry into the first pullback following a strong bearish price swing. The common element in both is the way that I waited for a three-swing lower timeframe retrace. Just like the complex pullback on…
