All Market… All Timeframes.
1. Determine the bias
2. Enter on a trap setup against the bias
The following provides an example for longer timeframe equities traders, using a Weekly / Daily combination.
Note: These were not traded live. I trade lower timeframe futures. This article is simply demonstrating the concept for educational purposes.
Lance Beggs
The following trade review examples have been taken (with permission) from some email conversations with Josh, a trader of the YTC Price Action Trader methodology. He's still in the early stages of his development, developing confidence in his strategy and processes through historical chart review. He's doing this using ForexTester software which allows for trading…
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…
In Part 1 of this series, we learnt how to read the Close Position, and define each candle as either a High Close, Mid Close or Low Close candle depending on where the candle closed within its own range. If you missed part 1, you’ll find it at the following webpage: https://yourtradingcoach.com/trading-process-and-strategy/better-than-candlestick-patterns-part-one/) We discovered a…
Last Friday we looked at a couple of examples of Market Structure journal entries, one of which involved a weak emini Dow open in the vicinity of the prior day’s low. Let’s quickly review this example, and the lesson it offered. If you want to review the whole sequence you can see it here:…
It’s Monday morning and the markets open with a Simple Pullback Entry LONG. BUT I DIDN’T TAKE IT. Because it didn’t set up right for me. A key principle in how I trade is keeping my awareness AHEAD of price. No trade should be taken unless I saw it coming well before the entry candle….
A few weeks back we discussed a quick and simple method for identifying a "bigger picture" directional bias. See here if you missed it and want to review the idea – Part 1, Part 2. The second article generated quite a bit of good email conversation, with several traders now adding this to their current…
