Common complaints about the market open: It’s too fast! It’s too volatile! There is too much uncertainty! I get it. And perhaps these traders are best just standing aside. Allowing some structure to develop and THEN trading. But here’s what I think. They’re missing an important point. YOU can create SIMPLICITY within that uncertainty by…
I’d like to expand upon a little side-comment made in the fifth image from last week’s article. We’ve discussed choppy conditions quite a lot on my site. The plan is usually the same. Recognise the chop. Define the upper and lower boundary of the structure. Put in price alerts if you wish. Step back from…
Those who have been around my site for a while will be aware that I’m not a fan of taking breakout trades. I’d much rather let the level break and then seek either breakout failure or breakout pullback trade opportunity. But there is another option. Entry BEFORE the breakout level. Let’s look at an example…
Keep it simple, traders. A month ago we discussed trading off news reaction highs and lows. You can find that article here if you missed it – https://yourtradingcoach.com/trading-process-and-strategy/trading-off-news-reaction-highs-and-lows/ This was the structure at the time… So I’m hoping that you took the lesson from that article and studied a few more examples from your…
This is NOT what I wanted to see… But then the market doesn’t care for what I want to see. It’s my job to adapt to the market. Not the other way around. So let’s trade… and talk about actions taken when the market open becomes STUCK. Nothing unusual here really. If you want a…
One of the absolute best ways I like to see price set up for a TST/BOF trade at support or resistance is when price has to move a LOOOONG way to get there. It can snap back nicely should the breakout fail. Think of a rubber band, stretched tight. And then released! We looked at…
News released on Wednesday morning an hour before the RTH open. And the reaction was to spike higher and then lower and settle back within the range. Interesting. That’s not quite what I expected, but it creates two levels worth watching. Two levels that define a clear boundary between bullish, neutral and bearish zones. And…
Narrow-range half-day holiday sessions provide great structure from which we can trade. We discussed this idea previously. You might recall this social media example from June. Zooming into the 30 minute chart from that prior (June) example, we see how the narrow-range session provides both directional preference and setup locations. I’m not a fan of…
(1) Recognition of potential for unfavourable conditions The following post was shared by social media pre-session on Monday: Expanding a little on that image: And adding further to this potential for unfavourable conditions: In the absence of unexpected news that provides a clear directional bias, I don’t imagine many longer-term traders keen to take…
Market open traps… I love these so much. I swear you could specialise in these, provided you had the patience to sit aside on days when they did not set up. From a YTC strategy perspective, they’re a BOF Setup trading off significant overnight structure. But there are two unique features. The first is a…
