When Price Stretches to Reach the Level

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,…

The Market Rhymes (AKA Don’t Screw Up the Second Opportunity)

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…

Recognising Opening Drive Potential

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…

Pre-Open News Trap

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…