The market has opened and rallied. Not with great strength. In fact it's quite slow. But it rallies with a clear bullish bias. It's clear of all S/R levels, above the prior day's high resistance (now support) and well short of the next higher timeframe resistance level. Trade opportunity in such a case is…
(Continuing our occasional theme of "We all learn more when Lance screws up!" 🙂 There are two important considerations when trading against a clear trend… Are my entries in a wholesale price region? Is my trade management defensive? These two considerations should be in the forefront of your mind, if you wish to preserve…
The following is a great question I received in a recent email: QUESTION: Hi Lance, I have a hypothetical question: Assume you are trading 6E (EUR/USD) on a 3/5 min timeframe. Current price is halfway between support and resistance on a 30min timeframe. The trend is up and your premise is for price action to…
