I love layered levels of support and resistance (multiple levels within close proximity).
A primary reason is that they simplify our trade plan. There is no doubt about the direction that we’re looking for trade opportunity.
Like last Monday…
Keep an eye out for layered levels of support or resistance as you establish your S/R Framework pre-session.
There may be opportunity waiting on a test of these levels.
Happy trading,
Lance Beggs
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…
I operate with three timeframes: Higher Timeframe – Defines the S/R structure within which the trading timeframe moves. Trading Timeframe – This is used to define the trend, market bias and to identify setup locations. Lower Timeframe – This is used to fine-tune my trading timeframe analysis and to time entry and exit decisions. I…
Here's an example of someone who's coming along quite nicely with their development as a trader. The following two images are from a YTC Price Action Trader reader who sent an email, asking the following: I'm not sure if this method of thinking can be used to go against my premise in the future? What…
One of the common email questions I get through my website relates to difficulties in sticking with stop losses. Some traders don’t place one in the market at all, promising that they’ll get out when price hits a certain level. Of course, when price gets to that level there’s no shortage of reasons why they…
Feedback from the last article (Breakout Pullbacks – Sometimes They Come Fast) was very positive. Thanks! It seems that people want more examples of setups. Ok. So, here’s another, this time with a more ‘normal’ breakout pullback. I don’t often get an opportunity to trade the UK open but did so this last Tuesday, and…
Sideways trend structure is more common than many new traders imagine. So it’s important to learn how to recognise a sideways market. (For my Sideways Trend Definition, see Page 101 (and Fig 3.44) of Chapter 3 of the YTC Price Action Trader.) And it’s important to find the way that YOU best trade this market….
Perfect! I love the way you explained it!
Thank you. Much appreciated. 🙂
Lance whenever I see stock market live I become thoughtless what should I do.
What do you mean by thoughtless? If you mean lost, completely unsure of what to do, then it’s most likely a lack of clarity regarding your strategy. You need to more clearly define, understand and trust your strategy.
Thanks, this is very helpful
You’re welcome Pateh. Best of luck with your trading.
Perfect Explanation .Great !!!
Thank you Sudarshan. Best of luck with your trading.