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
Welcome to part 2 of our short article series on Advanced Candlestick Analysis. If you haven’t read part 1, you’ll find a copy posted at this webpage: https://yourtradingcoach.com/trading-process-and-strategy/advanced-candlestick-analysis-part-1-of-2/ In the last article we reviewed some of the key concepts from basic candlestick analysis: The importance of identifying the market context – where the pattern…
On Thursday morning I woke to find two emails somewhat related to the same topic – the challenging trading conditions we’ve experienced so far this week. So my first thoughts were to expand upon a topic I shared via social media a bit over a week ago. Because I know that only a small fraction…
Last week’s article led to a great question on twitter. Yeah, fair call. It does look ridiculously early. Here’s the trade we discussed in that article. Here was my reply: Let’s step through the entry and early trade management decisions. The vertical axis is a little compressed on the 1 minute chart so we’ll do…
The best entries lean against some recent structure which limits movement against the position and provides a logical place for the stop. Unfortunately though, the market cares little for what we want to see in an entry. So how do we get in when there is no recent structure and we're trying to time…
There were three factors identified pre-session on 31st March, which alerted me to the potential for an opening drive in this session. (1) A contracting environment Firstly contracting on the higher timescale, as shown here on the daily chart. But also contracting on the smaller timescale, as shown here from an individual session perspective. If…
Recently I posted the following image to my YTC Facebook page: Let’s look at this Opening Range (OR) idea in a little more detail.
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.