Emotion drives price. And at the market open, STRONG emotion can drive price with strength. Tuesday offered a perfect example, with a pre-market news-driven price shock resulting in a strong bearish trend day. A day which screamed out to be traded on the short side. But let’s back it up first and look at some…
Patterns repeat – again and again and again! And in time, many of your trades will start to look similar to others. Let’s revisit a trade from a prior article – Volatility Contraction within a Sideways Range. And then another trade, just this last week. There is a real benefit to post-session reviews of the…
Let’s start with the daily chart at the time of market open. Because it shows structure that has me VERY interested in trading to the LONG side. Let’s drop to the 1 minute trading timeframe chart, just three minutes after the open. Happy trading, Lance Beggs
You've learnt the pattern or setup. Great. But that's not trading. Now work on the real-time contextual decision making around that pattern or setup. Look beyond the pattern itself to the wider context. Where is the pattern occurring within the larger timeframe market structure? What structure will suggest avoiding this particular setup? What structure…
Last week we looked at the following chart sequence showing an obvious symmetrical triangle pattern within my higher timeframe chart. See here if you missed the recent article – https://yourtradingcoach.com/trading-process-and-strategy/higher-timeframe-pattern-breakout/ I don't know if I was somehow influenced by that article. I don't usually look for patterns on the higher timeframe chart. It's primary…
I don't actively seek to find patterns on my higher timeframe. But sometimes they just stand out as so obvious that you can't miss them. So I watch them for potential trade opportunity around the edges of the pattern structure. Usually for two alternatives – a breakout failure or a breakout pullback. Of course,…
Lower timeframe (LTF) entry patterns can also trigger exit. Perhaps that's obvious? Perhaps not? In any case, as I used an LTF trigger pattern for exit during the week the following thought crossed my mind – "I don't recall discussing this via the newsletter" So here we are… There are MANY entry trigger patterns….
Context is far MORE IMPORTANT than the trade entry trigger. One of the dangers that newer traders face is too much obsession with Lower Timeframe or Trading Timeframe entry trigger patterns. I've been there myself. We all seem to get stuck there. Entry trigger patterns are exciting. They're simple to see. And most importantly,…
I'm not a pattern trader. I look at the internal strength and weakness within the price movement; seeking opportunity at places of traps or weakness against the bias. But there are some patterns that are based around similar concepts, such as the Wyckoff Spring and Upthrust. If you trade patterns, these are two which…
Tuesday offered a beautiful pennant in the emini Russell market. But here’s the problem with patterns, as I see them.
