I love layered levels of support and resistance (multiple levels within close proximity).
A primary reason is that they simplify our trade plan. There is no doubt about the direction that we’re looking for trade opportunity.
Like last Monday…
Keep an eye out for layered levels of support or resistance as you establish your S/R Framework pre-session.
There may be opportunity waiting on a test of these levels.
Happy trading,
Lance Beggs
I’ve covered quite a few topics throughout 2014, but I believe the most important by far has been my attempt to have people looking for success over a series of trades, rather than on any individual trade. Not every trade idea works! But that’s ok and that’s normal. Keep the losses contained. And work to…
I operate with three timeframes: Higher Timeframe – Defines the S/R structure within which the trading timeframe moves. Trading Timeframe – This is used to define the trend, market bias and to identify setup locations. Lower Timeframe – This is used to fine-tune my trading timeframe analysis and to time entry and exit decisions. I trade the middle…
I don’t always time these so well, but this one worked out to be a really nice entry. So let’s check it out and discuss what I’m thinking when faced with a really long extended grinding “will it ever end” pullback. First the higher timeframe to get some context… And now the trading timeframe……
In 2012 I commenced a YouTube video series – YTC Introduction to Technical Analysis. For various reasons, this series was unfinished. Perhaps it will be completed one day in the future. Perhaps not. The one benefit that this series gave me was a realisation that the work I can best offer the trading community comes…
There’s no greater source of motivation for me (and hopefully for you as well) as seeing someone achieve great progress along their journey to becoming a trader. Well done, Bijan! Excellent work! Reader Email: Hi Lance, A while back I was thinking to my self that the people that make the most money are the…
Context is far MORE IMPORTANT than the trade entry trigger. One of the dangers that newer traders face is too much obsession with Lower Timeframe or Trading Timeframe entry trigger patterns. I’ve been there myself. We all seem to get stuck there. Entry trigger patterns are exciting. They’re simple to see. And most importantly, they…
