Here’s a simple rule-of-thumb which I’ve found very effective over the years… If price fails to do something twice, always consider the opposite. “Something†refers an attempt at a significant move. A break of a key level, for example. Or a break of structure. Or, in this case, an attempt to push lower following a…
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…
Take note of the way that price approaches a level of support or resistance. The more that price has to stretch to reach it, the better. This is a time to FOCUS. Because if this move is unable to attract sufficient selling to continue lower, it can potentially set up a very nice YTC PAT BOF…
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…
I’m certain there are not many “jobs†at all where people look forward to Mondays. Trading is the only one that I’ve found. Even more so when I’ve been away from the markets for a while. So this was my social media post sent out pre-session on Monday. A little reminder to slow down and…
Let’s do a variation of the “Long is Wrong†topic which we covered in recent years. Here’s the concept: Today I want to flip that on it’s head. Because the reverse is true as well. And it sets up some great opportunities in the markets. And again, we’re looking for YTC PAT PB or BPB setups,…
Market open traps… I love these so much. I swear you could specialise in these, provided you had the patience to sit aside on days when they did not set up. From a YTC strategy perspective, they’re a BOF Setup trading off significant overnight structure. But there are two unique features. The first is a breakout with…
(1) Recognition of potential for unfavourable conditions The following post was shared by social media pre-session on Monday: Expanding a little on that image: And adding further to this potential for unfavourable conditions: In the absence of unexpected news that provides a clear directional bias, I don’t imagine many longer-term traders keen to take positions prior to…
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…
One of the absolute best ways I like to see price set up for a TST/BOF trade at support or resistance is when price has to move a LOOOONG way to get there. It can snap back nicely should the breakout fail. Think of a rubber band, stretched tight. And then released! We looked at a closely…
