Candlestick Patterns – The Bullish Engulfing Pattern
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Where Would You Enter Short?
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Proving Your Edge in Re-entry!
Those who have followed YTC for a while will know that I'm a big fan of re-entry. It's a personal preference. I much prefer a tight stop and the need for occasional re-entry, over a wider stop that might give a trade a whole lot of room to prove itself. I typically allow two…
Establishing a Bias From the Open (Part 2 of 2)
Establishing a bias intra-session is a simple process of following our 6 principles for future trend direction. It's a little more difficult at the session open though, when the lack of prior data adds to the uncertainty. Last week we worked through an example in which we established a bias from the open. Essentially it's…
What if you Narrowed Your Focus?
For those day traders who might be stuck in a cycle of continual failure… what if you narrowed your focus? Some days there might be no opportunity. That's fine. Other days there might only be one trade opportunity. Again that is fine. The idea is that this is not necessarily a permanent change to your…
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My plan on Wednesday was to trade the US forex session; not because I expected the best opportunity at that time, but because that would be the only time period that would not be impacted by ‘family time’. Then unexpectedly, at around 7:15pm (early UK session), my wife and kids decided to head over to…
Confidence in the Trend
I've been discussing this idea for quite a while now. The idea that there is GREAT VALUE in studying your charts post-session to identify the price sequences which offered the best trading conditions. And then… the structural features which might help you identify similar trading conditions next time they occur. Just last week in…