We’ve had some focus in recent weeks on traps occurring right at the market open. Market Open Traps, Market Open Traps 2, Market Open Traps 3 Today… is NOT a trap at the open. But it’s closely related. And expands upon the idea. I’ve no trades to share for this one. With visitors, my trading…
Wednesday’s social media post… for those who missed it: The link: Market Open Traps – 2 Here’s the “text-book” concept: The opposite applies as well. Price approaching a level of significant support, breaking lower just prior to or immediately after the open, and then smashing higher and trapping any SHORTS in a losing position. The…
Do you know what is better than receiving an email from a trader excited about a huge win? When that email contains no mention at all of the profits (approx 125 points in this case). Instead the email shares excitement about the context. The structure. And the way the market set up and allowed this…
“Knowing where the trap is – that’s the first step in evading it.“… Frank Herbert, Dune 100% true. And in trading, we can take this further. Knowing where the trap is allows you opportunity to profit as the trap is sprung. Let’s look at a recent trap provided in the E-mini Nasdaq charts. A fairly…
I’ve said many times over the years that one of the key parts of my edge is an ability to sit on the sidelines and WAIT for more favourable market conditions. Patience! If you think about it, you might expect to take tens of thousands of trades over the next few decades. So if the…
I absolutely love this market open on Tuesday. Let’s look at the daily chart as at the close on Monday. The Permabears must be feeling pretty good about themselves right now! Surely this is the big crash they’ve been warning us about for years. The daily chart plays a very minor part in my trading….
International football (soccer) is one of the few things that I will allow to interrupt my trading. I have no idea why I would encourage such masochistic behaviour. Following Australia in the international arena is more often than not a frustrating and disappointing way to spend my time. But it is what it is. And…
Monday provided a beautiful example in the NQ daily chart of an overextended market pausing with a narrow-range inside day. Volatility contraction! A place of opportunity for those who’ve seen it before and who’ll be ready to react. And a place of learning for those who are new to this game. So I sent out…
For something different, let’s look at two trades sent in by a reader who is trading the YTC Price Action Trader strategy. Because there is one aspect of their email that I ABSOLUTELY LOVE. More on that later. First, the email I received on Monday… – – – email extract – – – Hi Lance,…
You may recall the first trade in the sequence we discussed last week. (See last week’s article if you missed it!) This one here: This led to a comment I quite like, which I think deserves a better response than I gave at the time. Great question! There are some contextual reasons why I was…
