Candlestick Patterns – Piercing Pattern
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How I Use the Daily Chart
The majority of my pre-session higher timeframe (HTF) analysis is conducted on the 30 and 5 minute charts. Exactly as outlined in the YTC Price Action Trader, in constructing an HTF support & resistance framework. Before this though, I always have a quick glance at the daily chart. Maybe 5-10 seconds at most. Daily…
Session Open Breakout Pullback
In some sessions, the trade of the day is right there within minutes of the session open.
How did I know this trade would win?
First up… let's identify the higher timeframe S/R structure at the session open (18 minutes before the trade). We'll do that via two charts, the first using the day-session data only and the second looking at the overnight data as well. Now let's move forward 18 minutes on our trading timeframe to see the trade…
How Quickly Can You Identify the Current Market Environment?
Here's a documentation & learning tip which can really add significant value to your trading knowledge, and in time to your level of skill and confidence. Create and maintain a knowledge base documenting everything you know about every aspect of market environment: How to recognise the environment / the features of the environment. The nature…
Entering A Breakout Before The Breakout
A couple of years ago I produced a short video titled, “How I Trade Breakouts” (edit: no longer online… but not necessary for this article). In that video I discussed the fact that I don’t like to trade breakouts. My preference is to trade the first pullback following the breakout. That’s self-explanatory. As an alternative…
Would Re-Entry Improve Your Edge?
I had an opportunity this week to review and comment on some trades, from a trader who is using the YTC Price Action Trader strategy in the emini-Russell futures markets. While not yet achieving consistent profitability, there are very strong signs of this potential in the future. One strength that was clear from the start…