Let’s do a quick followup to the recent article on Layered Levels of Support or Resistance. Because there was an email response that I think is worth sharing. – – – Email: Lance, you’re a legend. Your timing is perfect. I’ve been trying to trade off major daily levels (prior days highs and lows, overnight…
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…
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!…
Sideways trend structure is more common than many new traders imagine. So it’s important to learn how to recognise a sideways market. (For my Sideways Trend Definition, see Page 101 (and Fig 3.44) of Chapter 3 of the YTC Price Action Trader.) And it’s important to find the way that YOU best trade this market….
