The vast majority of my trades lately, maybe 95%, fit within one of two broad categories.
(For those with the YTC Price Action Trader, the first category will include all variations of PB, CPB and BPB trades. The second category will include all variations of TST, BOF and any “reversion to the mean” scalp against an existing trend. For the second category, note that I will rarely be entering against strength. Look within the TTF/LTF to see weakness late in the over-extension, or on a subsequent retest. But the whole sequence should be over-extended.)
Let’s look at an example and see how it fits within one of these categories.
Today… category 1 (the bearish version).
Let me highlight two key points.
Happy trading,
Lance Beggs
PS. On Tuesday I posted a repeat of an old 2015 Facebook post. You can see it here. Note the similarity in concept. Don’t overcomplicate things. Simpler is better.