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
More great email Q&A, that allows us all to learn… Hi Lance, I would like to know what would you do if you are faced with the trade situation as in shown in the attached files. I’m seeing in the one-hour chart that the supply and demand is in equilibrium, then supply is greater than…
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I've become rather fond of targeting either the overnight high (ONH) or overnight low (ONL) during early session trading. If you're new to this idea, schedule some time to look back at the last few weeks of charts and take note of how many times they hit. For the ten sessions leading up to…
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The more I involve myself with trader education, the more I realise that a key error on the part of most traders is their failure to truly understand and accept trade loss. I see it all the time in reader emails – "WTF! This trade lost! How could it have lost?" We all understand the…
I’ve shared this idea a few times now over almost a decade and a half of writing YTC articles. Surprisingly, it’s not something I’ve heard discussed by other educators. I doubt I’m the only one who thinks this way. But perhaps that is what you get when you question common advice. And you should always…
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.