Candlestick Patterns – Candlestick Design
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Leaning Your Entry Against Other Price Action
Sometimes you're just not 100% sure. Not quite ready to pull the trigger. At these times it's best to wait. Remember this – "If I could only take one trade this hour, would I be happy to make it this one? If not, pass." Clearly if you're hesitating then the trade does not meet…
S/R is a Decision Area, not an Impenetrable Barrier!
It can help to think of Support or Resistance (S/R) simply as a decision area. Too many traders seem to expect their S/R levels to form an impenetrable barrier guaranteed to hold and reverse price movement. Doing so will lead to much frustration and unnecessary losses. The following image is an extract from email in…
The Trade is NOT Over till the Premise is Invalid
A trade is NOT over until the whole idea behind the trade is no longer valid. If you're stopped out, or if you scratch the trade, the trade is NOT over. Remain focused! Watch for an opportunity to re-enter. Lance Beggs
Definition – Projection
Projection refers to the distance with which a price extension projects past the previous swing high (in an uptrend) or swing low (in a downtrend).
Enter LONG When it Can’t Go Lower
Today let's look at the art of entry timing… with one of my favourite ways to get into the market. It's not the only way to enter. But it's one I love. If the market can print a candle (or sequence of candles) which strongly suggest that "it's moving lower". But then can't. Enter…
Metagame Entry – After You’ve Made a Dumb Trade!
I often talk about identifying the areas where “other traders” are trading in really dumb places. Places where they’ve found themselves trapped in a really low odds trade. Or trapped out of a position they wished they were in. Places of emotion – fear, anger, regret! These areas of the chart often provide us with…