Metagame Entry – Recognising that entry is not just about price or patterns, but about the people behind the price and patterns.
And in particular the times when they’re experiencing frustration, pain and disappointment.
Because the best opportunity comes when I can feel someone on the other side of the market getting it REALLY wrong.
This was one of my favourite trades of the week. Partly because it wasn’t in my original plan. But when it set up, it screamed out to be traded.
But then this happened…
For those with the YTC Price Action Trader, the setup should be obvious. Refer to Volume 3, Chapter 4, Pages 28-31.
And you’ll note that the entry is exactly at the point I define as the LWP. Refer to Volume 3, Chapter 4, Pages 72-77 for discussion on the LWP concept.
This trade was not part of my plan at the market open. I was keen to trade once price broke the overnight chop-zone, either higher or lower.
But until then… watch and wait.
Remain focused!
Because sometimes… price will set up right to sucker someone into a trap.
And when you see that trap, and feel their pain, you may well have found yourself some opportunity.
Happy trading,
Lance Beggs