Let’s start with a daily chart to get some “bigger picture” context…
And now down to the trading timeframe…
A little side note regarding the entry: While it may not be immediately obvious, this trade is a variation on the YTC Price Action Trader PB Setup. The pullback is all occurring within the one single TTF candle (in this case the green one prior to entry). While that is not ideal and we would prefer to see an actual pullback of at least 2 or 3 candles on the TTF, the fact remains that in an opening momentum drive this is often all you will get. So we either miss out entirely, or adapt. In an opening drive, I’ll be looking to the LTF data for the first pullback. Everything else (eg. LWP entry timing) is as per normal.
If you’ve lost all feel for what is happening in the chart…
(1) Step back.
(2) Define the edges of the structure.
(3) And wait.
Whatever happens within that no-trade zone, is none of your concern.
Let it break and then reassess.
Only then, if the market structure and price movement makes sense, is it game on.
Assess the trend structure. Project it forward. Identify your opportunity. And strike!
Happy trading,
Lance Beggs