Tuesday, 18 May 2010

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