This is a theme that has been constantly pushed at YTC since right at the beginning.
Seeing the trade BEFORE price gets there.
This ensures that trades are pre-considered. Pre-planned. Not emotional reactions to sudden price movement.
How do we do this?
Project your analysis forward. Given the current structure and the wider context, where is price most likely to go? All you need are the next 2-3 swings.
Project forward. Visualise the path.
If price follows this path, will it provide trade opportunity?
How should price act, if it were to confirm this trade idea? And what would you need to see to reject the trade idea?
It’s a constant process, updating as new data unfolds at the right of the screen.
Project -> Confirm -> Trade
Project -> Reject -> Reassess
The session is about to open and I know EXACTLY what I’m looking for.
It’s a constant process. Updating your picture bar by bar if you can. Or at least swing by swing.
Know what you’re looking for.
And see the trade BEFORE price gets there.
How do we project forward? See here: YTC Price Action Trader, Volume 2, Section 3.3 Future Trend (P113-159)
- Yeah, seriously, this was way back in 2010 – Stay Ahead of the Aircraft
- Staying Ahead of Price
- Project – Confirm – Trade
- Trading with Multiple Forward Projections
- How Do You Find Time to Plan a Trade on a 1-Minute Timeframe?