LWP (Lance beggs)

Hi,
I have started reading Lance Beggs Price Action trading (thanks to taiki). It will take some time as I am a slow learner.
I understood about Stop loss and Targets, but I am unable to understand the concept of last wholesale price which decides the entry point. Would any seniors here please explain it in some simple to understand way or point me to some article/ video that explains it in an easy way?


Regards
krist.

Hi,
I have started reading Lance Beggs Price Action trading (thanks to taiki). It will take some time as I am a slow learner.
I understood about Stop loss and Targets, but I am unable to understand the concept of last wholesale price which decides the entry point. Would any seniors here please explain it in some simple to understand way or point me to some article/ video that explains it in an easy way?


Regards
krist.

Hi,
I have started reading Lance Beggs Price Action trading (thanks to taiki). It will take some time as I am a slow learner.
I understood about Stop loss and Targets, but I am unable to understand the concept of last wholesale price which decides the entry point. Would any seniors here please explain it in some simple to understand way or point me to some article/ video that explains it in an easy way?


Regards
krist.

Hi,
I have started reading Lance Beggs Price Action trading (thanks to taiki). It will take some time as I am a slow learner.
I understood about Stop loss and Targets, but I am unable to understand the concept of last wholesale price which decides the entry point. Would any seniors here please explain it in some simple to understand way or point me to some article/ video that explains it in an easy way?


Regards
krist.

i've not done Lance Beggs course, but read his weekly articles. can someone tell me for what purpose he uses 30 mins timeframe? I understand that he uses 3 mins for entry, but 30 mins timeframe for what?

I have done the whole Lance Beggs course and actually am using parts of his teaching in my style.
LWP is an area on the chart where the order flow will create a pressure towards the strength. It usually occurs in Pull backs's or Complex Pull backs. It is a good entry point but and this is important, your security has to be of the kind which follows such patterns otherwise you could think something is an LWP area only to be stopped out. Most Indian stocks it is difficult to find LWP but I have seen that the three minute candle helps, with a one minute as a guide to judging the strength.
Your knowledge of S/R and SH/SL has to be very good to carefully find out the LWP areas.

More over and remember this if your analysis is sound and you are confident that the trade is right go for it and aggressively manage it, you will be more often than not be correct.

i've not done Lance Beggs course, but read his weekly articles. can someone tell me for what purpose he uses 30 mins timeframe? I understand that he uses 3 mins for entry, but 30 mins timeframe for what?

30 min timeframe to chalk out the market structure of support and resistance within which price moves.
And he uses 1 min to fine tune his entry, in addition to 3 min.