Price can be deceptive! Especially if you allow yourself to be caught up in the lower timeframe data. And even more so when that lower timeframe offers a large wide-range candle. Let's look at this lower timeframe chart from Crude Oil on the 24th of February 2014. It looks even more bearish for those who…
With hindsight, Tuesday's Crude Oil session started off the first few hours as a narrow-range sideways low volume market. Note to self – I've often said I should avoid rollover day. One day I should listen to myself. In a ranging market, the best opportunity is usually found at the edges, in particular when it…
First up… let's identify the higher timeframe S/R structure at the session open (18 minutes before the trade). We'll do that via two charts, the first using the day-session data only and the second looking at the overnight data as well. Now let's move forward 18 minutes on our trading timeframe to see the trade…
Response to a question on YTC Facebook on 29/1/14: Q. How do I work on emotions? Response: In most cases emotional issues are not actually the problem. They're highlighting the fact that either (a) your strategy is flawed, or (b) you don't have faith in your strategy, or (c) you're trading too much size. Correct…
There are a few concepts that I tend to repeat often. "Traps against market bias" is one of these concepts. Not just because they form a key part of my trading approach. But also because traps are difficult to trade for many traders. Psychologically, they can feel really uncomfortable. But in my opinion, when the…
