The market has opened and rallied. Not with great strength. In fact it’s quite slow. But it rallies with a clear bullish bias. It’s clear of all S/R levels, above the prior day’s high resistance (now support) and well short of the next higher timeframe resistance level. Trade opportunity in such a case is…
How nice is this market open… And I’ll admit it looks damn tempting. But wait! I’m not just playing price action. I’m playing the metagame. I’m viewing the market not just as price movement and patterns, but also as PEOPLE whose trade decisions create the price movement and patterns. I’m trading AGAINST those traders who…
Monday started with some obvious expectations. It’s a simple plan to start the session. A sideways trend in the pre-market, with clear and obvious range boundaries to trade off (BPB / PB) as the market drives hard for either gap fill or gap continuation. But wait! Do you remember this from back in February? And…
The Metagame: Viewing the market not just as price movement and patterns, but also as PEOPLE whose trade decisions create the price movement and patterns. Metagame Trap Entry: Recognising places on the chart where other traders are trapped in losing positions. Feeling their frustration, pain and disappointment. And using that to time our entry, at…
For something different, let’s look at two trades sent in by a reader who is trading the YTC Price Action Trader strategy. Because there is one aspect of their email that I ABSOLUTELY LOVE. More on that later. First, the email I received on Monday… – – – email extract – – – Hi Lance, How…
From time to time I get asked how I add to positions. That is, entering a new trade while the prior trade is still open. So I thought it might be a good idea to outline my response here. Then I can just link straight to the article in future. (Time management WINNER!) The…
Candlestick Patterns – Candlestick Design
Candlestick Patterns – Candlestick Sentiment
Candlestick Patterns – Candle Addition and Development
In previous articles I mentioned that my analysis involves monitoring price action, in order to gain an insight into the short term sentiment of the market. Determining who is in control at that time – the bulls or the bears. And assessing how they’re likely to respond to changes in the market. I thought today…
