3 Different Breakout Pullbacks… 3 Different Outcomes

Today we had three different breakout pullbacks with three different outcomes. The following charts show the trading timeframe first (one chart), followed by the lower timeframe detail (three charts, one per trade). A common question (although often appearing in different forms) is "but how do I know whether they will work or not?" Answer… I…

How I Maintain Focus

EMAIL QUESTION: My question is, "how does one stay focused while watching charts waiting for trade setups?" Lance, my mind wanders while staring at charts waiting for setups. If I could take to the bank the number of trades I missed while NOT paying attention to the charts, I would be making a healthy income….

S/R is a Decision Area, not an Impenetrable Barrier!

It can help to think of Support or Resistance (S/R) simply as a decision area. Too many traders seem to expect their S/R levels to form an impenetrable barrier guaranteed to hold and reverse price movement. Doing so will lead to much frustration and unnecessary losses. The following image is an extract from email in…