OK, now we have seen that the 15min trend was down, let’s take a look at the 3min TF chart.
Here we had three attempts as selling the corrective rally off the low. The first two resulted in -1R losses, but the third nailed the high perfectly. The Russell then declined sharply form there to reach the first projected profit target perfectly. Again, on the 15min Chart, as a Wave C low (TS4 buy) was coming in, we should look to the first target and not the ATRStop, even though the STF was strong.
The result was a nice +6.7R Profit(ignoring slippage and commission). Even taking off the two -1R losses earlier, +4.7R Profit yesterday was a nice result, especially when the other e-minis where having a hard day. This is yet another reason why I say that users should follow all 4 of the US e-minis.
Thanks, Steve
Here we had three attempts as selling the corrective rally off the low. The first two resulted in -1R losses, but the third nailed the high perfectly. The Russell then declined sharply form there to reach the first projected profit target perfectly. Again, on the 15min Chart, as a Wave C low (TS4 buy) was coming in, we should look to the first target and not the ATRStop, even though the STF was strong.
The result was a nice +6.7R Profit(ignoring slippage and commission). Even taking off the two -1R losses earlier, +4.7R Profit yesterday was a nice result, especially when the other e-minis where having a hard day. This is yet another reason why I say that users should follow all 4 of the US e-minis.
Thanks, Steve
