Hi Everybody,
Sorry for not posting for a few days, but I have been away on a well needed vacation.........
As we have seen in the Standard Blog, the 3min ES gave us a brilliant +10.4R Profit (ignoring slippage and commission), but it was against the red STF, so I would like to take a look at this now.
As I have explained many times before, because this trade catches the “first correction” against the “first swing” off an “important low”, it is very often “against” the STF (I cover this in the Trading Course as well). But as you can see, because we are catching the very end of the Wave (2) correction, we are looking to play the Wave (3) swing. And because Wave (3) is usually the strongest and longest swing, this setup represents the highest profit potential.
This is why this is my favourite trade and one I look for all the time.............
Thanks, Steve
Sorry for not posting for a few days, but I have been away on a well needed vacation.........
As we have seen in the Standard Blog, the 3min ES gave us a brilliant +10.4R Profit (ignoring slippage and commission), but it was against the red STF, so I would like to take a look at this now.
As I have explained many times before, because this trade catches the “first correction” against the “first swing” off an “important low”, it is very often “against” the STF (I cover this in the Trading Course as well). But as you can see, because we are catching the very end of the Wave (2) correction, we are looking to play the Wave (3) swing. And because Wave (3) is usually the strongest and longest swing, this setup represents the highest profit potential.
This is why this is my favourite trade and one I look for all the time.............
Thanks, Steve
