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
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
