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
In the last article I stated that support and resistance (for me) is based on previous swing highs and lows, areas of congestion, round numbers and gaps. We’ll now review these types of support and resistance, discussing how to identify them, and how they formed. In this article we’ll start with my favorite support and…
Happy trading, Lance Beggs
I've long been a fan of Opening Range (OR) theory and the way that it allows us to quickly and easily identify a "bigger picture" session bias. So last week we played around with that concept and explored it's application in new areas of the chart. We took the concept of OR theory and…
Grind: Low volatility Significant candle overlap Weak price extensions Pullbacks that just refuse to break lower And it just goes on and on, well beyond when you expect it to stop. Unless you're comfortable scalping within such a low-volatility environment, your best game plan is often to just stand aside until signs of failure. Of…
Expectations should change with a change in environment. In a slow, wide-swinging trend, your better off waiting for a deep pullback. Don't be too quick to enter. But in a fast trend, if you hesitate you may just miss the entry. Here's two fast-trend shallow pullback entry examples. There's no waiting for a 38.2% retracement…
It’s Monday morning and the markets open with a Simple Pullback Entry LONG. BUT I DIDN’T TAKE IT. Because it didn’t set up right for me. A key principle in how I trade is keeping my awareness AHEAD of price. No trade should be taken unless I saw it coming well before the entry candle….
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.