OK, now we know that this 3min DP buy was in the same area as the 15min DP support zone, the Advanced Traders among you could have taken the long trade with confidence. This had you long form the low of the day !
As the STF was strong, the ATRStop was used, which held the long trade for a nice +5.8R Profit (ignoring slippage and commission).
As you can see, this is a very good example of how to use the 15min Charts for “larger degree” support / resistance to then help you with your shorter term 3 and 5min trades.... But as it does require a little work from you, it is for the more experienced traders amount you.... But, as you can see, the rewards are great, so I do encourage you all to take the time and learn how to become a better and more experienced trader – it will be worth the effort !
Thanks, Steve
As the STF was strong, the ATRStop was used, which held the long trade for a nice +5.8R Profit (ignoring slippage and commission).
As you can see, this is a very good example of how to use the 15min Charts for “larger degree” support / resistance to then help you with your shorter term 3 and 5min trades.... But as it does require a little work from you, it is for the more experienced traders amount you.... But, as you can see, the rewards are great, so I do encourage you all to take the time and learn how to become a better and more experienced trader – it will be worth the effort !
Thanks, Steve
