This is a tough way to start a session:
Happy trading,
Lance Beggs
Similar Posts
Your Trading Problems are Your Path to Success
I get many emails from people frustrated with the challenges they face in learning to trade. Maybe you can relate to some of these problems: “…I’ve done it again. Another loss held past where I should have exited, hoping for it to come back…†“…It just seems too hard, juggling work, family and trading education….
Retest of the Point of Contraction
With hindsight, Tuesday’s Crude Oil session started off the first few hours as a narrow-range sideways low volume market. Note to self – I’ve often said I should avoid rollover day. One day I should listen to myself. In a ranging market, the best opportunity is usually found at the edges, in particular when it…
Opening Structure Trap
I do very much like a large Gap Open with a strong Opening Drive. But do you know what’s better than a large Gap Open with a strong Opening Drive? How about a large Gap Open with Opening Drive failure and reversal to the opposite direction! We have discussed traps at (or just before)…
The Key to Early Recognition of Potential Change in Structure
The key to early recognition of potential change in structure is in observing and identifying “SOMETHING DIFFERENT”. I absolutely love this example which has been building now since the beginning of the year. This does not mean that the uptrend will end. It’s just a warning sign. A clue that the sentiment driving the market…
I’d Take These Trades EVERY TIME. Here’s Why…
Win, lose or draw! I’d be happy to take these trades EVERY TIME. Let’s start with some much higher timeframes to give you some context. So there is good potential for strong directional movement below prior lows. Any break to new lows… I’ll be all over any BPB weakness. And even better… if the market…
Establishing a Bias From the Open (Part 2 of 2)
Establishing a bias intra-session is a simple process of following our 6 principles for future trend direction. It’s a little more difficult at the session open though, when the lack of prior data adds to the uncertainty. Last week we worked through an example in which we established a bias from the open. Essentially it’s a…