There were three factors identified pre-session on 31st March, which alerted me to the potential for an opening drive in this session. (1) A contracting environment Firstly contracting on the higher timescale, as shown here on the daily chart. But also contracting on the smaller timescale, as shown here from an individual session perspective. If…
I love layered levels of support and resistance (multiple levels within close proximity). A primary reason is that they simplify our trade plan. There is no doubt about the direction that we’re looking for trade opportunity. Like last Monday… Keep an eye out for layered levels of support or resistance as you establish your S/R…
We all love highly direction markets. Especially a strong momentum drive right from the open. But not every day is so kind to offer one. Sometimes price gets stuck at the open. And if we don’t have plans to manage ourselves during this opening chop we risk hitting our session stop before the day really…
I received a question a few weeks ago asking why I haven’t shared many support & resistance trades lately. And asking whether or not I still trade them. It’s interesting that they’ve noticed this. The majority of my trades in the last year have been with-trend, seeking to profit from continuation of a directional market….
I’m always fascinated by the decision making of “other traders”. In particular those who trade in places where I suspect they’ve possibly got it very wrong. Like here… It’s a simple model for decision making, which I find particularly useful. As you watch price you will sometimes find yourself thinking… “WTF! Really! Who would buy…
A late pre-session breakout of key price levels… you know I love that. But there was one factor which suggested that I should be in no hurry to trade. Step back a little, define a “No Play” zone, and wait. Hindsight will show us it wasn’t necessary this time. But there are places on the…
I don’t want to push this point too much. But let’s do it just one more time. Because I think it’s important. Today’s lesson goes out to those who trade the emini futures on low timeframes. Those who read the article a fortnight ago about replaying and studying the session from 10th February, but for…
A few weeks ago I shared some ideas on how to best manage your mindset when very little goes right. This was based upon a session which started out with missed opportunity followed by a period of sideways chop. You can see the prior article here if you missed it – https://yourtradingcoach.com/trader/managing-your-mindset/ I thought we…
I sent this out on social media recently, on the 26th January. And then again in last week’s newsletter. I hope that you didn’t just skim over this. And that you found the time last weekend to review the session and study the opportunity that was available. Because… Wednesday – what a day that was!…
I had an interesting thought while trading (or trying to trade) the following sequence: And then I thought… In over 10 years of writing for YTC, I don’t recall anyone EVER sending me a chart and saying that they’re pissed off that they missed a trade… WHICH WOULD HAVE LOST. Maybe, like my initial reaction,…
