Lance Beggs
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Support and Resistance on Composite Indices
Every now and then I get a question I just can’t answer, which is great because it gives us both an opportunity to learn. If anyone can help with this, I’d love to hear your thoughts. Please email me. Here’s the email Q&A… Hi again Lance, I have a real question to ask as I…
Retesting the Point of Structural Change
I posted the following on social media a few weeks ago… The first pullback after a strong and decisive break from an obvious structural pattern, should be considered a MUST-TRADE scenario. There was a comment made to the post which I absolutely love. I've copied it here: Now, I don't advocate trading just…
Price Action Principles – Timeframe Independent
I just want to take the opportunity here to remind those on higher timeframes that almost everything I write should be thought of as largely timeframe independent. Most of the examples I provide will come from very low timeframe charts. Why? Because that’s what I trade! But while the chart images I show in newsletter…
Simple Session Bias – 3 (Spot Forex)
I had no plans to continue this recent topic on use of the opening range to provide a quick and simple assessment of "bigger picture" session bias. But I had a few traders ask how it should be applied to the forex markets. You can see the two prior articles here, if you missed…
Inside Bars at the End of a Price Swing
By far the majority of my trading decisions are based upon TTF setup areas and LTF pattern-based execution (or scalper-channel execution). Very rarely do I enter based upon the TTF price action alone, without any real reference to the lower timeframe chart. When I do though, it's almost always due to the presence of…
Entry Before Breakout – Example
This example comes courtesy of some email Q&A, from a reader of the YTC Price Action Trader: Email: Hi Lance, Check out this potential awesome entry before the breakout… Many greets, Image: (* Click on the image to open a larger copy in your browser) Reply:
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!