DP from prior Wave 4 high

OK, this will be a good test to see how many of you have really studied the Trading course............

As we have already seen, on the 5min Charts we had three TS4 sells, two were -1R losses, and the last nailed the eventual high. So the question is – was any one of these “better” than the others ?

Well, for those of you who have indeed studied the Trading Course will know that after a 5 waver decline the “target” is the DP from the prior Wave 4 high or low. As you can see, in this example on the 5min YM, this nailed the TS4 sell perfectly, but only at the last (3rd attempt). So this last setups had the “highest confidence”.

Thanks, Steve

PS, Also note how the low of the day was at the minimum Wave 5 WPT. This shows yet again how powerful the tools in MTPredictor really are, as here we were, yet again, nailing the very highs and lows of the session !

TS3 buy catches the ABC correction

OK, now let’s take a look at the 3min Chart. Here we can see how we got an automatic TS3 buy setup at what we would consider the Wave (2) low. As I have already outlined, we then “aim” for the Typical Wave 3 WPT as the target, not to nearer Wave C targets.

Also, please note, that because the Wave (2) correction happens very early in the new trend, this type of setups will nearly always be against the STF colour.

As you can see, the NQ did indeed rally to the Typical Wave 3 WPT, in fact this nailed the blow off top perfectly ! The results was a lovely +8.3R Profit (ignoring slippage and commission).

What a brilliant trade and what a brilliant day in the US e-minis for MTPredictor yesterday !!

Thanks, Steve

Larger degree, 15min, trend

Hi Everybody,

Today I would like to look at the Holy Grail of setups, as I have outlined in the main Blog. So first let’s take a look at the larger degree trend on the 15min NQ.

Here we can see that we were at a Wave C low, so this set the “important low” we needed on the 3min Chart. I suggest you look at the post on the main Blog as well, to see how we had the “initial rally” off the “important low”, that was then followed by and “initial correction”. The “initial correction” sub divided into an ABC pattern. This is the basis of my Holy Gail setup.

As the “initial correction” is a Wave (2) low, we then “aim” for the Typical Wave (3) WPT as the Profit target....

Thanks, Steve

TS3 sell on the Russell as well

As we knew that the 15min trend was down, we could have been looking for any other short trade as well. For example the TS3 short on the 3min Russell that appeared around lunch time.

As we knew that the larger degree, 15min, trend was down, it was a good idea to look to run the short trade as far as possible, even using the ATRStop earlier that we normally do......... The result was a lovely +8R Profit (ignoring slippage and commission) as the short was held all afternoon as the decline continued.

Today’s posts have been a good example of what is possible with MTPredictor once you become more experienced. The tools in MTPredictor are amazing, so I do hope that you all take the time, make the effort to learn how to use them to their full potential.

Thanks, Steve

3min DP nails the high of the day !!

OK, now we have seen how we had DP resistance at the high of the day, this then allowed you to not only avoid all the losing buys (as they were “against” the 15min down trend), but also allowed you to take the automatic 3min DP sell – this nailed the very high of the day for you !!

So instantly, this turned what could have been a -4R loss into a lovely +4.9R Profit (ignoring slippage and commission).

But the shorts did not stop there, as the Russell Index got in on the act with a TS3 sell later in the day....

Thanks, Steve

15min Trend – they key !

Hi Everybody,

As we have already see, the market decline all day yesterday, so did the 15min Charts help predict this ?

Well, I “normally” just look at charts using data from 9:30 – 16:15 EST, BUT on days when these give no helpful information, and we get such a big move overnight, that resulted in such a big gap up on the open, I always check the 24hr session charts as well.

As we can see, on the 24hr session YM 15min Chart, the high of the day came in right at DP resistance. This set the trend to down........... Then the YM continued to decline until it reached the lower main DP support zone, which nailed the low of the day !

It does amaze me how well the DP catches turns, even on days that were as wild as yesterday – this just shows what a powerful tool MTPredictor is !

Thanks, Steve

3min DP sell nails the high of the day !

Hi Everybody,

We have already seen how the TS3 buy on the 3min ES has nailed the low of the day, so it would be nigh to nail the high as well. Well that is exactly what MTPredictor did yesterday !

As we have already see, the 15min trend was down off the 15min DP resistance, so this DP sell on the 3min Chart was OK to consider. This nailed the high of the day and resulted in a nice +3.2R Profit (ignoring slippage and commission) as the ES declined into the first target.

Add this to the +3.6R Profit form earlier in the day, ands the 3min ES had a very very good day yesterday !

Also notice how the high volume (VSA) spikes did a good job of helping confirm the main turns in the ES yesterday as well.......

Thanks, Steve

15min DP high on the ES

Hi Everybody,

We have already seen how the TS3 buy on the 3min ES has nailed the low of the day, so it would be nigh to nail the high as well !

So let’s turn to the 15min ES chart, where we can see that the high of the day came in at DP resistance. But then point is that because the 15min ES chart was at DP resistance we could then look to the 3min Charts for any automatic sell setups.

OK, over the 3min ES chart now...........

Steve

Truly amazing Part 2

OK, now we have see a nice 5-waev count going into yesterday high, lets “drill down” using the 2min chart, first into the 5min Wave (4). Here we had a nice abc pattern, in fact this was an automatic TS3 buy. But then (and this is what amazed me), just look at the pattern as the ES rallied............ A perfect 5-wave rally.

So here we had a 2min Wave 5 making up the Wave (5) swing on a 5mion Chart going into a 15min DP............ No wonder the ES made a high then................ Do you all see how absolutely amazing this is ? Here the tools in MTPredictor were able to nail the high of the day for you on multiple time frames, all with perfect Elliott Wave patterns – I think that is truly amazing !!

Notice how you could have had a nice +4.8R Profit (ignoring slippage and commission) going into the high as well.

I just hope that you all take this education on board and that it helps you to become better traders. It is like I am giving traders (you) the keys to the markets (in MTPredictor), I just hope that you make the effort to unlock the door.

Thanks, Steve

Truly amazing !

Hi Everybody,

I was not going to share this analysis, but I decided to after all, because it was truly amazing. I am still blown away about how good this is and how amazing the markets are in the way they unfold. This was absolutely perfectly text book activity yesterday !!

We have already seen how the 15min ES put a high in at DP resistance, but I would like to take a look at the 5min Chart and the move into that high....

As you can see, the last swing up as found as a 5-wave pattern. So this helped reinforce the 15min DP high yesterday, so helped you avoid 3min automatic buys in the afternoon.

But this is not what amazed me. What I found amazing was how this last (Wave 4 and 5) swings on the 5mion Chart unfolded on the lower (2min) time frame.......... So let’s take a look at this in the next post.

Thanks, Steve

Larger degree trend...........

Hi Everybody,

Before you start today’s post, please take a look at the normal Day Trading Blog to see how yesterday on the 3min ES we had a number of losing buy setups that unfolded in the afternoon............... So our job is to see how this “fitted in” with the larger degree, 15min Chart.

As you can see, the 15min ES made a high at DP resistance and started to decline about lunch time. So in the afternoon the “larger degree trend” was down, so you should have avoided the 3min buy setups......

You see this again and again, day after day – how using the 15min Charts to show the larger degree trend will help you decide which shorter term (3 and 5min Charts) setups to take. I cannot stress this enough, in that always keep an eye on the larger degree 15min charts it will help you loads

Thanks, Steve

PS, there were some amazing other setups yesterday that I don’t have time to go into, but needleless to say, once you take the step to Advanced Trader, a whole new world of trade opportunities will open up for you !

Holy Grail of setups – Part 2

Hi Everybody,

OK, now we know to look for an abc pattern on the rally into the 13:00 EST high. It was a pity it did not unfold on the 3min chart, but a lovely TS1 sell did unfold on the 2min Chart. After a false start for -1R, we then nailed the high as a strong Wave 3 decline unfolded (exactly as we were anticipating !).

The result was a lovely +7.6R Profit (ignoring slippage and commission) at the Typical Wave 3 WPT.

Every time I see this pattern unfold I am amazed, and I cannot believe how well it works. This trade was the main reason I designed MTPredictor in the first place !

Thanks, Steve

Holy Grail of setups – Part 1

Hi Everybody,

Did any of you spot this “Holy Grail” of setups yesterday in the ES ? As you all should know by now, I love looking for a abc pattern that unfolds as part of the “initial correction” (Wave 2) following an “initial swing” (Wave 1), because it is very often followed by a strong (Wave 3) swing.

Well that is what unfolded on the ES yesterday. I normally follow the 3min Chart, so when I saw the “initial decline” off the 11:57 high I got excited, and started to look for the decline to end and then a abc rally to unfold.

The abc pattern did not unfold on the 3min chart but did on the 2min chart, as we will see in the next post.

Thanks, Steve

DP nails the high

Hi Everybody,

Normally I suggest just watching the US e-minis from 9:30EST to 16:15EST. BUT, it is always a good idea to “keep an eye on” the 24hr charts as well.

As you will have seen (from the Standard Blog) we had a lovely TS3 sell on the 3min Dax, but just look at this 15min ES chart as well. See how the4 DP nailed the high perfectly, and as such warned you of the decline to follow. And what a decline !!

It still amazes me how well this stuff work, and how it works on a daily basis. In MTPredictor, you have some amazing tools that are able to catch turns in the market as well as this. It is juts up to you whether you make full use of them or not.

Thanks, Steve

Holiday

Hi Everybody,

Steve is away for a few days on a well earned holiday, so there will be no Blog posts for a few days.

Thanks

Steve

VSA and DP nails the low of the day !

Hi Everybody,

As we have already seen, the Standard Traders among you have already had a brilliant day, so what of the more Advanced Traders ? Well, we had a perfect high volume (VSA) spike at DP support that nailed the low of the day for you in the TF and ES. Let’s take a look at a 3min Charts of the Russell Index (TF) chart. As you can see, this was a perfect VSA / DP setup. This had you long form the low of the day !!

The TF then rallied nicely to reach DP resistance as well as a Wave C WPT. This was the perfect place to look to bank +5R Profit (ignoring slippage and commission). Add this to the +10R from the standard setups on the YM and we had a brilliant day on Friday. Days like this show the power of MTPredictor and it is on days like this that you make your big money !

Thanks, Steve