Price Bar Reversal Patterns – The Key Reversal
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“No Play†Zone
A late pre-session breakout of key price levels… you know I love that. But there was one factor which suggested that I should be in no hurry to trade. Step back a little, define a “No Play†zone, and wait. Hindsight will show us it wasn’t necessary this time. But there are places on the…
You’ve GOT to Target Multiple-R Winners
Most trades will typically fall in the range from -1R to +1R… hopefully more on the positive side of that range. But for most of us this does not mean you should be targeting 1:1 trades all day, every day. By all means take them if you assess them as being a higher probability play….
Targeting the Overnight High or Low
I’ve become rather fond of targeting either the overnight high (ONH) or overnight low (ONL) during early session trading. If you’re new to this idea, schedule some time to look back at the last few weeks of charts and take note of how many times they hit. For the ten sessions leading up to…
Using Pre-Session Data to Confirm Levels
The following text and image were shared recently through both the YTC facebook and twitter pages. My first action on Monday mornings upon opening my charting platform… Actually, it’s one of the first things I do every day. This is the key part we’re discussing today: Let’s stick with the same timeframe but move forward to the…
Pullback – With a Hidden Trap
The first pullback after a change of structure – you all know I absolutely LOVE these trades. Especially when the prior structure was so damn frustrating. Because that can lead to a great move in the new direction. Same concept as always! When we have a strong directional bias, watch for any price action that…
Stops – Frustrating!
Here’s a great question from one of the www.yourtradingcoach.org subscribers. I thought it would be good to share this one as there are some great lessons here: Question: Hi Lance: I’m really lost on this issue of stops….. I know you have a very different viewpoint on it – I’ve seen your video on the site….