Let’s start with the daily chart at the time of market open. Because it shows structure that has me VERY interested in trading to the LONG side.
Let’s drop to the 1 minute trading timeframe chart, just three minutes after the open.
Happy trading,
Lance Beggs
Last week’s article led to an interesting comment about the sequence preceding the one discussed in that article. Check it out here if you missed it – How to Enter When the Pullback Shows Strength! The email feedback expressed an interest in the fact that the session started with a loss and yet I managed…
I love this part of a recent email conversation with a reader: “Why do you hate indicators so much? You can’t beat the simplicity of an MA crossover for holding the trend.†Haha. “Hate†is a bit severe. I honestly don’t hate them at all. I use some indicators. The YTC Scalper lower timeframe template…
In helping you travel the path from novice to pro trader, let’s consider the following quote: “Things do not change; we change.†… Henry David Thoreau It’s the SAME price action. It doesn’t change. The only difference is that I see it in a different way. There are several…
This is a tough way to start a session: Happy trading, Lance Beggs
The Metagame: Viewing the market not just as price movement and patterns, but also as PEOPLE whose trade decisions create the price movement and patterns. Metagame Trap Entry: Recognising places on the chart where other traders are trapped in losing positions. Feeling their frustration, pain and disappointment. And using that to time our entry, at…
I was recently discussing EMA vs SMA with a trader who uses moving averages as a component of his analysis.  (Note: EMA = exponential moving average; SMA = simple moving average) Specifically, one part of his methodology requires the identification of a turn of a short-term average against the trend to indicate a weakening of that…
