OK, let’s now take a look at the 5min chart. Here you can see how the 5min ES reversed with a red (sell) reversal bar that nailed the very high of the day for you. Advanced Traders could have take a short trade off this high. The target would have been the opposing DP support zone for a nice +4.4R Profit (ignoring slippage and commission).
Yes, the DP’s don’t work this well all the time (no analysis technique does), but when they do they allow you to enter trades with a small controlled risk, to then make profits that are larger than the losses, and that is the key to successful trading.......
Thanks, Steve
Yes, the DP’s don’t work this well all the time (no analysis technique does), but when they do they allow you to enter trades with a small controlled risk, to then make profits that are larger than the losses, and that is the key to successful trading.......
Thanks, Steve
