Lance Beggs
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Scaling In and Out
The following is an email I recently received from a trader of the YTC Price Action Trader method, which I think will be of interest to all traders. Bijan has demonstrated great decision making throughout. Excellent recognition of traps and great trade management from start to finish. And more importantly you'll see how he's added his…
Lower Timeframe Triggers into Trading Timeframe Setups
I'm a big fan of using a lower timeframe to trigger into setups identified on a higher trading timeframe. Typically that lower timeframe trigger will be based upon some kind of candlestick or micro-chart-pattern. The following was an email request I received from a trader who is developing his skills at the same concept. Mr….
TTF Narrow Range Bar Entry
Let's say we have a market with a clear bearish bias. Price then pulls back higher and reaches an area in which I'd be happy to enter a SHORT position. Two of the key things I'm looking for are: Signs that the bulls have exhausted everything they've got. Signs that the late bulls, entering…
More… Anticipating Traps
In last week's newsletter we looked at a more enlightened way to use TA – anticipating and exploiting traps within the marketplace. Here's the link if you missed it: https://yourtradingcoach.com/trading-process-and-strategy/the-three-steps-from-ta-amateur-to-ta-professional/ Today, let's look at another example of the concept discussed in this earlier article.
Trade When You See Edge. Stand Aside When You Don’t!
A few weeks back we discussed a quick and simple method for identifying a "bigger picture" directional bias. See here if you missed it and want to review the idea – Part 1, Part 2. The second article generated quite a bit of good email conversation, with several traders now adding this to their current…
Thanx a lot, Lance Mentor …………Repeat…. again and again and again READING the SAME articles replaces the ‘shadow trading’ skills with the REALITY Trading’ Skills….
Lance,
Great post as always.
I have a question – Is it common to look for entries using the trading timeframe S/R levels as in this example? I’ve been practicing looking only at reactions at higher timeframe levels for fear that trading timeframe swings/levels didn’t have quite the significance. Thanks.
Hi Chris,
I take S/R levels off the higher timeframe. However in trading a trend on the trading timeframe, it’s usual to use prior significant swing highs or lows to define the “area” where we expect the pullback to end. That is all that has occurred here. We are not near the higher timeframe S/R levels. We’re just trading a with-trend pullback as it moves into an area of prior TTF support (now resistance). If you want to limit yourself only to HTF S/R, there’s nothing wrong with that. It just means you’ll need patience while price moves within the S/R structure.
Nice recap Lance… many traders like to do counter-trend which “killed” them. When price is high, the traders tend to short-sell it… when when it’s low, they like to pick a bottom. Follow the trend, until it is proven it is heading the opposite. Thanks!