Candlestick Patterns – Piercing Pattern
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Every session contains learning opportunity! In fact… multiple learning opportunities. Review EVERY one of your trading sessions. And find something! Whether it's in something you did poorly, something you did really well, or perhaps even something you missed entirely. There's a lesson. Find it! Whether it's a new insight. Or reinforcement of the basics. There's…
Where Price Can’t Go
I'm always VERY interested in these places on the chart – the places where price can't go. The places where it tries… it pushes… but it just can't go there. This is opportunity. Let's start with the Higher Timeframe chart… Let's switch now to the trading timeframe… Reference… this is a BOF Setup as described…
Layered Levels of Support or Resistance
I love layered levels of support and resistance (multiple levels within close proximity). A primary reason is that they simplify our trade plan. There is no doubt about the direction that we’re looking for trade opportunity. Like last Monday… Keep an eye out for layered levels of support or resistance as you establish your S/R…
Lower Timeframe 3-Swing Retrace Entry
Lets look at a couple of recent trades which contain a single common element. The following two trades are both an entry into the first pullback following a strong bearish price swing. The common element in both is the way that I waited for a three-swing lower timeframe retrace. Just like the complex pullback on…
Post-Session Chart Review
We recently shared some post-trade reviews from Josh, who is doing exceptional work in creating a trade review journal for his longer timeframe forex trading (daily charts). See the trade reviews here if you missed them: https://www.yourtradingcoach.com/trading-business/Trade-Review-Examples/ But a trade review journal is not the only option you have. Today I'd like to share a…
Recognising Opening Drive Potential
There were three factors identified pre-session on 31st March, which alerted me to the potential for an opening drive in this session. (1) A contracting environment Firstly contracting on the higher timescale, as shown here on the daily chart. But also contracting on the smaller timescale, as shown here from an individual session perspective. If…