Right and wrong are actually poor terms to use when discussing analysis. Everything is of course “probabilitiesâ€. More correctly we should possibly refer to our ability to make positive or negative expectancy decisions and whether not the outcome falls in our favour. But I assume you know what I mean. So let’s go… You WILL…
I was thrilled to receive an email on Tuesday from a trader who has taken this recent YTC concept and achieved a new “firstâ€. His first ever 100 point runner. Actually… it looks like closer to 110 but who’s counting! From the email: Hi Lance I don’t know if you remember me from earlier this year and…
Emotion drives price. And at the market open, STRONG emotion can drive price with strength. Tuesday offered a perfect example, with a pre-market news-driven price shock resulting in a strong bearish trend day. A day which screamed out to be traded on the short side. But let’s back it up first and look at some…
Let’s start with the daily chart THREE sessions ago: TWO sessions ago: And now ONE session ago: And today: Can I say… I LOVE traps in the market. All markets. All timeframes. And while I don’t trade the daily chart, the fact that the market set up like this on the daily greatly influenced my…
Narrow-range half-day holiday sessions provide great structure from which we can trade. We discussed this idea previously. You might recall this social media example from June. Zooming into the 30 minute chart from that prior (June) example, we see how the narrow-range session provides both directional preference and setup locations. I’m not a fan of trading holiday…
