For all those times I'm asked by email, "Why were you selling today when the market is bullish?" or "Why were you buying today when the market is bearish?"
So when someone says that a market is bullish… or that a market is bearish… that actually means nothing without some idea of time scale.
Cheers,
Lance Beggs
I am quite a fan of Al Brooks' first book, "Reading Price Charts Bar by Bar", despite the fact that we trade very differently. Out of close to 400 pages, there is the one idea which has stuck with me more than any other. From page 384: "Countertrend setups in strong trends almost always…
Let’s start with some higher timeframe structure to provide a little context. The market kicks off at 09:30 and drives higher, confirming the uptrend is in play. YTC Price Action Trader principles 1 and 2 will guide our analysis and trade plan, until proven otherwise. The default option with a Sideways Trend is to seek…
I recently shared one of my old articles via social media. Click on the image, or this link here, if you wish to read the old article. This is such an important part of my pre-session preparation. Why? It simply aims to get my session off to a good start – so very important for…
Here’s a great question from one of the www.YourTradingCoach.com subscribers. I thought it would be good to share this one as there are some great lessons here: Question: Hi Lance: I’m really lost on this issue of stops….. I know you have a very different viewpoint on it – I’ve seen your video on…
Good news… tech problems delayed the start to my trading on Monday. Well, not good for me I guess, as I missed a beautiful trap entry at the open. But good for those who were hoping for a followup to the prior article, Trading after Structure has Formed, where we discussed the idea that those…
Last week we looked at the following chart sequence showing an obvious symmetrical triangle pattern within my higher timeframe chart. See here if you missed the recent article – https://yourtradingcoach.com/trading-process-and-strategy/higher-timeframe-pattern-breakout/ I don't know if I was somehow influenced by that article. I don't usually look for patterns on the higher timeframe chart. It's primary…
A short post with a million dollar point which I hope everyone note it specially beginner traders.
Thank you for the valuable post.
Mehdi
Thanks Mehdi! 🙂
i think the pertinent question is … Is the timeframe bullish or bearish and the application of Laws of multiple timeframes , best trades some when the trading timeframe and anchor timeframe align , best bang for buck going with primary trend …. Laws for those interested , thanks to perry kaufman
LAWS OF MULTIPLE TIME FRAMES
1. Every time frame has its own structure.
2. The higher time frames overrule the lower time frames.
3. Prices in the lower time frame structure tend to respect the energy points of the higher time frame structure.
4. The energy points of support/resistance created by the higher time frame’s vibration (prices) can be validated by the action of lower time periods.
5. The trend created by the next time period enables us to define the tradable trend.
6. What appears to be chaos in one time period can be order in another time period
Really enjoy your work Lance
Thanks Brisvegas! Which Perry Kaufman book did this come from? Or… perhaps put a better way…do you have one of his books which you particularly recommend?
The Laws came from Kaufmans ” Trading Systems and Methods ” starting pages 838 , its a large read and actually turns out Kaufman is quoting Robert Krausz . As far as books go I just take the bits that resonate with me and ignore what doesnt so its hard to recommend any books in their entirety . As it would appear we are similar in the aspect of having your “own” method that suits your personality and understanding . Loved your interview on chatwithtraders , the journey is so similar for most traders , nothing beats experience
Cheers
Thanks. I’ve never actually read any of Kaufman’s books. I’ve added this one to my book list for future purchase. Although at over 1100 pages I won’t be surprised if I keep bumping it lower on the list as it gets to the top. That’s going to be a serious commitment in time. 🙂
Hi,
always a very interesting read! Thank you!
Just wondering if we really always need to know the trend,
or the bias can be enough,
to come to a decision …
I maintain an assessment of both trend and bias, because in my view the bias is determined from analysis of the trend. It’s a projection of the trend forward based upon a number of simple principles.
But if you had some different way of assessing bias without first assessing trend, I guess that would be fine. It’s not how I operate though.