Price Bar Reversal Patterns – Intro
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It’s All About Real-Time Contextual Decision Making
You've learnt the pattern or setup. Great. But that's not trading. Now work on the real-time contextual decision making around that pattern or setup. Look beyond the pattern itself to the wider context. Where is the pattern occurring within the larger timeframe market structure? What structure will suggest avoiding this particular setup? What structure…
How Support and Resistance Areas are Created
Question: Hi Lance, In his text on support and resistance, Mike Reed talks about traders hoping the market will return to a level of support or resistance so they can break even in that trade. So are levels of support and resistance more to do with the behavior of traders than the actual value of the dollar, Thanks from Brian. Answer:
A Simple Step to Becoming a Better Trader
After every trading session, find something you can learn from. Perhaps a market structure feature. Perhaps an interesting sequence of price action. Perhaps a trade management insight. Whatever you find to be of most value! Document it. Store it in your journal. Review your journal as often as possible. Two examples… 1. A…
A Bias-Changing Event
We’re all familiar with the charts produced by news events that cause a sudden and massive expansion in volatility, as shown below in this example from my blog archives. (If you’re interested in the blog post associated with this chart, and an examination of the retest of support, you’ll find it in the free YTC…
3 Different Breakout Pullbacks… 3 Different Outcomes
Today we had three different breakout pullbacks with three different outcomes. The following charts show the trading timeframe first (one chart), followed by the lower timeframe detail (three charts, one per trade). A common question (although often appearing in different forms) is "but how do I know whether they will work or not?" Answer… I…