Lesson 1: When two trade ideas fail to work, consider a break. When three trade ideas fail to work, force a break.
Lesson 2: When the pullback is deeper and stronger than expected, let it roll over. Get in on the other side.
Lesson 3: An exit is not necessarily final. Remain focused and consider re-entry if the premise is proven to still be valid.
Happy trading,
Lance Beggs
See here if you missed the earlier articles – No. 1, No. 2, No. 3, No. 4 The concept: I’ve been writing online for over a decade now. And for that whole time I’ve been promoting the idea of daily study in both Market Structure and Price Action. It’s a simple task that takes no more than…
Price Bar Reversal Patterns – The Closing Price Reversal
I do love a strong gap opening. So let’s begin Friday 31st July 2020 with NQ gapping higher. We’ll start with the 30 minute chart (RTH session data only so that we see the gap). Let’s drop slightly to the 15 minute chart and include some overnight data as well. So let’s prepare for the…
As an intraday trader there are TWO S/R levels that are always on my chart. The Prior Day’s High The Prior Day’s Low For a market with a day session only these levels are obvious. For markets with 24 hour data the prior day’s high and low will be taken from the primary session…
Opening Range breakout strategies are very popular in the stock and emini-futures markets. If you’re not familiar with these Opening Range breakouts, a Google search should also bring up more information than you can probably read in a lifetime. To greatly simplify the strategy, it essentially involves identifying the high and low price from the…
Feedback from the last article (Breakout Pullbacks – Sometimes They Come Fast) was very positive. Thanks! It seems that people want more examples of setups. Ok. So, here’s another, this time with a more ‘normal’ breakout pullback. I don’t often get an opportunity to trade the UK open but did so this last Tuesday, and…
