Candlestick Patterns – Hammer
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A Failed Break of One Side Leads to…
In preparing my daily entry for my Market Structure & Price Action Journal, I sometimes venture away from my usual market and timeframe if there is an example that REALLY catches my interest. This was one of them. We're looking here at the Crude Oil 30 minute chart. Why did this interest me? Because…
Taking Profits – Adjust to Suit the Environment
Reader Question: I've got a question related to taking profits. I'm having some great success with entries (finally) but am always torn between taking profit at 1:1, 2:1 (which I've found to be more common lately) or holding out until the next S&R. I know you take 1 profit off the table at 1:1, move…
One of my Favorite Setups
Don’t make things more complicated than they need to be. This setup is simple and it appears time and time again. Sell a rally to resistance in a downtrend Buy a fall into support in an uptrend Here’s one recent downtrend example.
Comfortable Lies and Uncomfortable Truths
"We do not err because truth is difficult to see. It is visible at a glance. We err because the lie is more comfortable." … Alexander Solzhenitsyn Are comfortable lies holding you back from making progress as a trader? Is the time and effort you currently devote towards the comfortable lies, perhaps better spent…
Momentum Doesn’t Always Continue
I love these patterns so much. Let's do it one more time. I know… we've done this a couple of times already – see here – and here. And of course, those with the YTC Price Action Trader should look to Volume 2, Chapter 3, Page 143, for the same idea expressed on the…
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…