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
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
