Another Holy Gail setup Part 2

OK, now we knew the larger degree (15min) trend was down, let’s look at the 3min chart. Here we got an “initial decline”, so the trick was now to look for an “abc correction” to then look for a short. This is exactly what happened, when we got a lovely TS4 sell. Yes we did have one -1R loss first, but once the high completed (at the Typical Wave C WPT), then the Russell collapsed.............

As soon as the first target was reached, the STF was strong, so traders should have swapped to the ATRStop. This held the short trade into the close where a massive +18R Profit (ignoring slippage and commission) was available !

Absolutely amazing !!

But seriously, all the Advanced Traders among you should have nailed this trade, as it is one I teach regularly, and I detailed just one day ago, so this should have been fresh in your minds.....

Trades like this is the main reason why I designed MTPredictor in the first place, many years ago, so I hope you are all making the most of such massive Profits as these

Thanks, Steve

Another Holy Gail setup

Hi Everybody,

I really hope that you were all paying attention yesterday when I went though in detail about what I call my “Holy Grail” of setups ? Because we had an absolutely perfect example again yesterday on the Russell Index, that produced a massive Profit. So I do hope that you are all paying attention to this education, seriously, this is brilliant stuff and will help you become a much better trader, so I do suggest that you all take notes and pay attention !

OK, as usual, let’s start with the larger degree trend on the 15min Charts. Here you can see, that the Russell Index made a high at DP resistance, this set the trend to be down, so we would have been favouring the short trades.

OK, let’s move down to the 3min Chart to then look for sell setups.......

Thanks, Steve

The Holy Grail of setups – Part 2

OK, now we know that the larger degree trend was up, we could have avoided any sells and been on the lookout for buy setups

For those of you who have been following me for a while will know that my “favourite” set ups is off the “first correction” following an “initial rally” off an “important low”, in other words, a potential Elliott Wave (2). This is what we had on the 3min YM yesterday with the automatic TS4 buy setup.

Once the YM reached the first target, the STF was strong, so this then held the long trade into the close for a massive +8.5R Profit (ignoring slippage and commission)

This is what is possible, once you start to look at markets with experience and an Advanced understanding.

Thanks, Steve

The Holy Grail of setups

Hi Everybody,

Although it was a hard day for the Standard Traders among you once you look at the YM yesterday with “Advanced eyes” you can see my favourite setups, the one I believe is the closest thing to the Holy Grail you will find in Trading. But let’s start but looking at the larger degree trend with the 15min YM chart

As you can see, we had DP support early in the day, this set the trend to UP.

OK, now onto the 3min Chart for the actual trade entry.....

Thanks, Steve

TS3 sell nails the high !

OK, now we know that we should be focusing on the short side, let’s take a look at the 3min Chart on the YM.

Instantly we can see a lovely TS3 sell that nailed the very high of the day for you ! But (this is the important part), because the larger degree (15min) chart was down, you should have been looking to “run” this short trade and avoid any buy setups.

As you can see, the YM declined sharply in late trading to reach the first projected Profit target, but as the STF was strong, this short should have been ridden into the close, where a very nice +6.4R Profit (ignoring slippage and commission) was available.

Thanks, Steve

15min trend

Hi Everybody,

For the Advanced Traders among you, the 15min tend on the YM was down yesterday please see the chart. So you should have been looking to bias any trades to the short side yesterday.

So let’s now take a look on the 3min Chart

Thanks, Steve

ABC high

OK, we have already seen, that the 3mikn NQ rallied off the low to reach the opposing DP target, but just look at the “pattern” of that rally – a perfect ABC, with the high right at the Typical Wave C WPT (Pink zone).

As such, this gave the opportunity for a short trade for another +3.5R Profit (ignoring slippage and commission) on the way down.............

What an amazing day ! and shows how powerful the tools are in MTPredictor to be able to nail each major turn in the 3min NQ yesterday and then capture such massive Profits along the way – it is days like this that make me glad that I developed MTPredictor !

Thanks, Steve

DP and VSA nail the low !

Hi Everybody,

As we have already see, we started the day with a standard TS3 that banked a nice +4.3R Profit, but look where the market was as this Profit came in. Right at DP support AND then the NQ made a high Volume (VSA) bar. This was an absolutely perfect example of the DP / VSA setup that I teach. This nailed the low of the day for you !

Then NQ then rallied nicely to reach the “opposing” DP target, where +7.2R Profit (ignoring slippage and commission) was available. Amazing !

Now I can hear you asking, why take Profits at the DP target, when the STF was strong ? Well, (I will leave you to do this yourselves), it was because we were at 15min DP resistance, “and” the rally off the low unfolded as an ABC, which will lead to another nice trade, see next post.

But what an amazing example of the DP / VSA combination – I love it when it nails the very low (or high) of the day like this – Amazing !

Thanks, Steve

3min Chart

OK, now we know how the 15min DP changed the trend from down to up around midday let’s take a look at how that would have affected our 3mio trades.

Well, we would not have taken the first trade of the day (as the 15min was not at DP support yet), but we would have had a -1R loss at 11:12EST. But then the automatic DP buy at 11:48EST nailed the very low of the day for you !

As the YM rallied, you would have avoided the two short signals until the DP long reached the first target, where you would have swapped to the ATRStop. This would have produced a nice +2.7R Profit (ignoring slippage and commission)

So this would have turned a +2.6R day with 2 losses and 1 Profit (Standard Traders) into a +6R Day with 1 loss and 2 Profits for the Advanced Traders among you by using the larger degree trend.

Thanks, Steve

Larger degree trend

Hi Everybody.

Well here we are again, in a very similar position to yesterday, where the larger degree trend (15min Chart) was helping out with filtering out some losing trades for us.

As we can see, the trend was down into the lower DP, where a low was made around midday, and then a rally unfolded. So this DP turned the down trend to up. So let’s see what effect that had on our 3min trades.....

Thanks, Steve

Gap Opening DP

But it does not stop there...................

For those of you who follow this Blog regularly, you will all know that I like the “Gap Opening Play”, especially when it falls in line with the larger degree chart, as it did yesterday.

As you can see, this could have added another +8R Profit (ignoring slippage and commission) to the +7R Profit in the post below, making yesterday a truly amazing day for the Advanced Traders among you. This does show how amazing the tools in MTPredictor are once you learn how to use them.

Thanks, Steve

PS, have any of you spotted the difference between the TS3 sell that came after a Wave 5 decline that fell short of the DP from the Wave 4 high, between yesterday and today ? Hint: Larger degree trend.

3min Chart

OK, so now we know to “favour” the shorts and avoid the buys, what would than mean on our 3 losses and 1 Profit for a +1R total form the Standard Traders Blog ?

As you can see, instantly, the 3 losing “buys” would have been avoided, as they were “against” the 15min down trend. Not only that, but we would have looked to “run” the TS3 short further (as it was in the direction of the larger degree trend), using the ATRStop.

This would have had the results of turning a +1R day for the Standard Traders, into a +7R day (ignoring slippage and commission), once the Advanced Trader brought the larger degree trend, on the 15min Chart into the mix........... Amazing !

Thanks, Steve

Larger degree trend

Hi Everybody,

As we have already seen, there were a number of losing trades on the 3min YM Chart (Main Blog post) BUT, what happens when we look at the “larger degree” trend on the 15min YNM chart ?

Well, as you can see, the 15min YM made a high at DP resistance, and then started to decline, this set the larger degree trend to down for you. So, you have guessed it, this means that we should have been “favouring” the short trades and avoiding the buys.

In fact this DP nailed then very high of the day for you - Amazing !!

Thanks, Steve

DP From Wave 4

OK, so far we have seen, the “larger degree” trend was up, for a DP low on the 15min NQ Chart. But now let’s take a closer look at the 3min ES, that had all those losing short trades in the afternoon.

As you can see, the 3min ES made a Wave 5 low, so the question is “where is the first target following a Wave 5 low” ? This is covered in Part 2 of the Trading Course, so I hope you have all read and studied the Course !

Exactly, the DP from the prior Wave 4 high. Combine this with a low on the 15min NQW chart and you would have had confidence that the new trend was UP off the Wave 5 low. This would have helped you avoid the losing sell setups as the ES rallied, exactly as anticipated.....

This is why I keep on encouraging you to study and learn, all the info you need is here, you just need to learn it ! Once you do you will learn an amazing ability to be able to anticipate the future far better than you would have ever believe was possible. Most people never get to this level, because they simply cannot be bothered to take the time and do the work necessary, they seen to expect to be given everything on a plate for them, and do not work. Well, the world is not like that, the best rewards are saved for those of you who are committed and willing to work the hardest.

Thanks, Steve

Larger degree trend

Hi Everybody,

I always talk about keeping an eye on the 15min charts and always to follow all 4 US e-minis, well yesterday was a great example of why. First we had the 15min NQ make a low right at DP support, see chart. As the markets started to rally, this should have set alarm bells going off that the current decline was over and the “most likely” direction was now UP.

OK, now let’s look at that 3min ES chart again, and see who “really” knows the material in the Trading Course !

Thanks, Steve

DP nails the high !

OK, now we have seen that the 15min Chart was signalling a potential high, lets zoom down to the 3min Chart to take a closer look.

Here we can see that the YM made a reversal right at DP resistance and on Stochastic divergence. This (as it fell in line with the 15min Chart), means that this was a good short trade to consider. This nailed the high of the day for you !

The YM then declined nicely and a +4R Profit (ignoring slippage and commission) was available as the TS3 buy came in............. a very nice addition to the other Profits that came in later in the day.

Thanks, Steve

DP nails the high !

Hi Everybody,

The YM was in an interesting position yesterday, as a automatic DP sell came in mid morning on the 15min Chart. So the question arises, “if” the 15min Chart was signalling that a high was coming in, how could the Advanced Traders among you take advantage on the shorter terms charts.

So let’s take a look

Steve

DP form Wave 4 low

Hi Everybody,

I know that you have all carefully studies the Trading course ! So you will all know that a good area of support is the DP form the prior minor Wave 4 swing. Well, look at how the YM unfolded yesterday........ We got a 5 wave rally, with MTP nailed the wave 5 high ! But then (and this is what interested me) we got a decline onto the DP from the prior Wave 4 low. Not only that, but the blur buy bar at 11:51EST was on lovely Stochastic divergence. This nailed the low beautifully.

The YM then rallied to reach the higher DP, where a nice +2.2R Profit (ignoring slippage and commission) was available.

A nice trade, on what was otherwise a quiet day..... But the quiet days over the last few days have still given a number of more “Advanced” setups. So this is why I encourage you all to take the time and learn how to spot these trades.....

Thanks, Steve

Gap Open Play

Hi Everybody,

As we have seen, the Standard Traders had a quiet day yesterday with few automatic setups. This is where the a little knowledge comes in for the Advanced Traders among you.

I have taken about the “Gap Open” play before. This is where we look for a market to reverse at DP sup[port/resistance shortly after the open. As you can see, we had a perfect example of this on the 3min ES yesterday. The ES then rallied nicely to the opposing DP, where a nice +2.8R Profit (ignoring slip[page and commission) was available.

This is a particularly good play when it “falls in line with” the larger degree trend, as this one did (as we say yesterday, the 15min ES was up).

Thanks, Steve

3min chart Part 2

Moving onto the afternoon on the 3min Chart. We have already seen that we had an “automatic” DP buy on the 3min YM, “and” we have also seen that the 15min ES charts was potting in a TS3 buy, so when the 3min ES made a low at DP support on a high volume (VSA) bar, this was the sign to go long.

As the 15min trend was up, this long should have been run into the close (avoiding the TS3 sell), this would have added another +2.5R Profit (ignoring slippage and commission) to the +1.8R Profit from the morning, making a +4R Day overall...........

Now do you see why I spend so much time trying to “educate” you all to help you become better traders.............. MTPredictor has the tools to find some great trades, you just need to take the time, and make the effort to “learn” how to use them !

Thanks, Steve

3min chart

OK, now we now that the “larger degree” trend was down in the first part of the day, this would have helped us “avoid” the first -1R long trade, then we could have considered the TS1 short trades.

As you can see, here were would have started with two -1R losses, but then after the high came in the ES decline nicely, for a potential +3.8R Profit (ignoring slippage and commission) as the TS3 buy came in. So -2R +3.8R = +1.8R so far.

Lets now take a look at the rally in the afternoon...........

Thanks, Steve

Larger degree trend

OK, as we have seen on the Standard Blog, the 3min ES had a hard day, so now let’s take a look with Advanced eyes !

As usual, let’s start with the larger degree trend using the 15min Chart. As we can see here, the Gap Up took the 15min ES right into the Typical Wave 3 WPT resistance zone, so we should have been looking for sell setups on the 3min Chart.

Then later in the day, a TS3 buy came in, so we should have swapped to looking at buy setups. So let’s now move down to the 3min chart to see what trades there were....

Thanks, Steve

hybrid trade management strategy

Hi Everybody,

On a day like yesterday some Advanced Traders may have looked to trade the TS3 sell in the 3min Russell as a “split position”. This is something Tony talks about as a “hybrid trade management strategy”, where you split your position to two, and manage the first aggressively, but look to let your second half “run”.

This would have been able to take advantage as the Markets entered free fall yesterday..............

Thanks, Steve

ABC’s

Hi Everybody,

Here is another great example from just this morning, of what I was talking about in the post below (please read first), where we had a good looking minor abc that was then followed by a sharp move.

This time on the 3min FST and for a nice +5.7R Profit (ignoring slippage and commission)

Thanks, Steve

PS, Chart using the new MTP RT add-ons for NinjaTrader 7

ABC’s

Hi Everybody,

Yesterday was a good example of how you can use the Elliott Wave tool “manually” to help find additional trade setups. We all know that the ABC is a pattern then once completes signals to continuation of the prior trend. And as sch represents a good “low $ risk” trade entry point. Therefore, if, you feel that the market is in a strong trend, then you can look for “minor” abc corrections.

There were a coups of good example yesterday, so let’s take a look at the 3min YM. Here we can see that the YM made a minor ABC, completing at 10:57EST. This nailed the low perfectly for you. The YM then rallied strongly from there................

A simple trade management strategy is to use the ATRStop, the that followed the market up for a nice +7.9R Profit (ignoring slippage and commission).....

Yet another example of how, with some experience, the tools in MTPredictor can be used to uncover some great trades.

Thanks, Steve