This is without doubt one of the best ways I like to see price set up for TST/BOF reversal trades from an S/R level. We discussed this briefly in a related article – https://yourtradingcoach.com/trading-process-and-strategy/higher-quality-breakout-failure-trades/ But let’s look at an example from this week’s trading. We’ll start with a higher timeframe chart to give some context,…
Imagine if you started this exercise a year ago: You’d have an incredible database of 52 “best of” trades and 52 “worst of” trades. An incredible resource of what works and what doesn’t. And clarity as to the path you need to take to grow and develop YOUR edge in the markets. Most likely though,…
The first pullback after a change of structure – you all know I absolutely LOVE these trades. Especially when the prior structure was so damn frustrating. Because that can lead to a great move in the new direction. Same concept as always! When we have a strong directional bias, watch for any price action that…
Let’s start with some higher timeframe structure to provide a little context. The market kicks off at 09:30 and drives higher, confirming the uptrend is in play. YTC Price Action Trader principles 1 and 2 will guide our analysis and trade plan, until proven otherwise. The default option with a Sideways Trend is to seek…
A key feature of the YTC Price Action Trader method is timing trade entries through awareness of the emotion of “other traders”. In particular when you sense heightened levels of frustration, anxiety or even fear. Place yourself in the mindset of someone trapped in a really poor position. Feel the fear. And find opportunity at…
Monday… let’s start with some higher timeframe action… Error 1: I was blinded by one of my favourite pre-session signals; a trap right before the open. And an expectation that this trap would spring completely and help to drive price higher. Error 2: I failed to consider the alternative – “What if I’m wrong? What…
What a way to start the week! But we didn’t necessarily know this at the open… so let’s step back to 09:30 and trade. The obvious conversation that will follow… “But Lance, I can see quite a few trades there. If you look at….(indecipherable as I’ve stopped listening at this point)” “Ok, thanks. But I…
I love this part of a recent email conversation with a reader: “Why do you hate indicators so much? You can’t beat the simplicity of an MA crossover for holding the trend.” Haha. “Hate” is a bit severe. I honestly don’t hate them at all. I use some indicators. The YTC Scalper lower timeframe template…
It’s been a week of incredible opportunity and incredible challenge. We discussed the challenge a little on social media, with some good lessons that I thought should be shared through this channel as well. This social media post struck a real chord with viewers, in comparing the opportunity from Monday and Tuesday and discussing how…
Some days the markets are just messy. Choppy price action which does it’s best to whip you out of a trade before it moves on without you. The best way I’ve found to manage this (apart from just standing aside) is to accept the chop and work WITH it through focusing and finding a re-entry…
