Trading Process and Strategy

Expecting a Breakout Failure

I recently posted the following image on the YourTradingCoach Facebook page. For the sake of this article, ignore the text in the yellow box. Actually… don't ignore it… put it aside for now but do think about it later. It's incredibly important and may well reveal to you the real essence of trading psychology. But…

Trading Process and Strategy

Reviewing Key Price Action Sequences

A great way to learn to read price action is to review your historical price charts, with a focus on the price action at key structural locations. Find and review anything which fits these categories. tests of significant levels breaks of significant levels traps transitions between trends and ranges transitions from volatility contraction to expansion…

Trading Process and Strategy

Grinding Channel Break

Email Question: I'm not quite sure how to manage this situation. My initial thoughts are that shorts will enter on a break below the channel, and that they will realize that they are wrong if price breaks above the last candle. On the other hand, there is weakness in the uptrend which would set my…

Trading Process and Strategy

Wait for the Fakeout

A common complaint I hear from traders is "the broker ran my stop!" Here's the thing though… it's usually not your broker. It's your failure to properly recognise the real nature of price movement. The nature of the markets is one of tests, retests and probes of prior levels. If you've developed a belief about…

Trading Process and Strategy

Long at Support

In last week's article we saw a buy in Crude Oil as it tested support. Check out the article here if you missed it. Today we examine a very similar setup in the emini Russell. In this session I was trading with the following timeframe combinations: HTF 5 min, TTF 1 min, LTF 15 sec…