One of the absolute best ways I like to see price set up for a TST/BOF trade at support or resistance is when price has to move a LOOOONG way to get there. It can snap back nicely should the breakout fail. Think of a rubber band, stretched tight. And then released! We looked at…
News released on Wednesday morning an hour before the RTH open. And the reaction was to spike higher and then lower and settle back within the range. Interesting. That’s not quite what I expected, but it creates two levels worth watching. Two levels that define a clear boundary between bullish, neutral and bearish zones. And…
Narrow-range half-day holiday sessions provide great structure from which we can trade. We discussed this idea previously. You might recall this social media example from June. Zooming into the 30 minute chart from that prior (June) example, we see how the narrow-range session provides both directional preference and setup locations. I’m not a fan of…
I was thrilled to receive an email on Tuesday from a trader who has taken this recent YTC concept and achieved a new “first”. His first ever 100 point runner. Actually… it looks like closer to 110 but who’s counting! From the email: Hi Lance I don’t know if you remember me from earlier this…
Take note of the way that price approaches a level of support or resistance. The more that price has to stretch to reach it, the better. This is a time to FOCUS. Because if this move is unable to attract sufficient selling to continue lower, it can potentially set up a very nice YTC PAT…
Sometimes the simplest ideas are the best. And this one is REALLY simple. For years I’ve stated that my default option with half-day holiday sessions is to stand aside. Let them go. Volume is low and opportunity is most often limited. On those rare occasions when I do trade them, when there might be some…
There are some levels that are clearly defined. A single price, highly visible to all market participants. The prior day’s high and low are obvious examples of this type of S/R. And then… there are others that are not so easy to define. Primarily because there are multiple levels of interest, all forming one larger…
Take note of the way that price approaches an S/R level. The more that price has to stretch to reach it, the better. This is a time to FOCUS. Because if this move stalls, unable to attract sufficient buying to continue higher, it can potentially set up a very nice TST/BOF trade for reversion to…
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,…
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…
