When the market drives in one direction straight from the open, I’m ALWAYS watching the first pullback for trade opportunity.
A strong open drive might only happen a couple of times a month.
But when it happens, I’m ALWAYS watching the first pullback for trade opportunity.
Happy trading,
Lance Beggs
This example comes courtesy of some email Q&A, from a reader of the YTC Price Action Trader: Email: Hi Lance, Check out this potential awesome entry before the breakout… Many greets, Image: (* Click on the image to open a larger copy in your browser) Reply: Chart attached with my notes. There’s actually not much more…
There is a period of time required in implementing a new discretionary trading strategy, in which the trader must make the strategy their own. This goes far beyond just learning the rules of the strategy. A trader must take the time to understand the principles underlying the strategy, to confirm these principles are compatible with…
Let’s do a quick followup to the recent article on Layered Levels of Support or Resistance. Because there was an email response that I think is worth sharing. – – – Email: Lance, you’re a legend. Your timing is perfect. I’ve been trying to trade off major daily levels (prior days highs and lows, overnight highs…
In the last article I stated that support and resistance (for me) is based on previous swing highs and lows, areas of congestion, round numbers and gaps. We’ll now review these types of support and resistance, discussing how to identify them, and how they formed. In this article we’ll start with my favorite support and resistance –…
Ok, not really. But the market participants have memory. And they have somewhat predictable human nature. And that is what leads to patterns in structure creating familiar outcomes. And the saying that the market doesn’t repeat, it rhymes. We saw this in a prior article: The Market Rhymes (AKA Don’t Screw Up the Second Opportunity) I…
Recent articles on my session review process mentioned the use of a market replay feature. I’ve been asked for some information on this tool. Not surprising really – it’s something that most forex traders will not have experienced. Market replay is a feature that has appeared on many futures platforms in recent years. It allows you to replay the…
