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
Are you creating and using your market structure journal yet? If not, why not? (If you're not aware of what that is, why not? It's on my ebook page. See "The Greatest Trading Book – Ever!" at https://www.yourtradingcoach.com/ebooks/) It doesn't matter which market or timeframe you use. Market structure concepts apply to all markets and…
Lets look at a couple of recent trades which contain a single common element. The following two trades are both an entry into the first pullback following a strong bearish price swing. The common element in both is the way that I waited for a three-swing lower timeframe retrace. Just like the complex pullback on…
The vast majority of my trades lately, maybe 95%, fit within one of two broad categories. (For those with the YTC Price Action Trader, the first category will include all variations of PB, CPB and BPB trades. The second category will include all variations of TST, BOF and any "reversion to the mean" scalp…
“Repeticio est mater studiorum.” (Repetition is the mother of all learning) …Saint Thomas Acquinas If you’ve noticed the small size of this article, you may suspect that this article itself is NOT the Greatest Trading Book – Ever! And you’d be correct. But don’t worry; there’s a simple explanation. This article will explain…
I get many emails from people frustrated with the challenges they face in learning to trade. Maybe you can relate to some of these problems: “…I’ve done it again. Another loss held past where I should have exited, hoping for it to come back…” “…It just seems too hard, juggling work, family and trading education….
I trade low timeframes. Maybe you've noticed? 🙂 But I've always said that no one timeframe is better than any other. There are professional traders operating across the full spectrum, from watching the tape move tick by tick, right up to daily and weekly charts. There is no "best"; only what is best for…
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.