I'm always looking at the market from the perspective of "the other trader".
In particular, seeking out the places on the chart where others might become frustrated.
Where is someone stuck out of a trade they wished they were in?
Where is someone stuck in a trade they wished they weren't in?
That's where I want to trade!
Happy trading,
Lance Beggs
The majority of my pre-session higher timeframe (HTF) analysis is conducted on the 30 and 5 minute charts. Exactly as outlined in the YTC Price Action Trader, in constructing an HTF support & resistance framework. Before this though, I always have a quick glance at the daily chart. Maybe 5-10 seconds at most. Daily…
I produced a few articles on general S/R theory a couple of years ago. https://yourtradingcoach.com/trading-process-and-strategy/support-and-resistance-the-greatest-trading-tool/ https://yourtradingcoach.com/trading-process-and-strategy/support-and-resistance-2-swing-highs-and-lows/ https://yourtradingcoach.com/trading-process-and-strategy/support-and-resistance-3-areas-of-congestion/ https://yourtradingcoach.com/trading-process-and-strategy/support-and-resistance-4-round-numbers/ Plus an article demonstrating the trade opportunity available when S/R changes polarity (S becomes R): https://yourtradingcoach.com/trading-process-and-strategy/support-becomes-resistance-a-trade-example/ And a recent blog post which demonstrates how I define my S/R levels on my higher timeframe: “Plotting S/R – Here…
Candlestick Patterns – Piercing Pattern
The open can be a time of great opportunity. But you need to be prepared. My default option is to always wait for the Trading Timeframe (TTF) to develop some structure. To wait until the initial trend is clear and obvious. But there are some times when I'll trade earlier, before the TTF settles…
The session begins… Don't chase the missed entry. But remain focused. Because sometimes, while price has still not reached the expected target area, it might offer a nice lower timeframe structure. Something that you can lean an entry against, which offers an acceptable level of risk. Something that still offers potential rewards, sufficient to justify…
Feedback suggests that people got a lot out of last week's article, so let's continue with that topic one more time. Check it out here if you missed it – https://yourtradingcoach.com/trading-process-and-strategy/opportunity-exists-where-you-find-frustrated-traders/ This was the general idea though – I'm always looking at the market from the perspective of "the other trader". In particular, seeking…
