Hi Everybody,
As an Advanced Trader you have the additional skills to be able to further evaluate more advanced setups. For example the DP buy on the 3min YM off the low of the day. Yes the STF was red, which it will be with DP’s a lot of the time as DP’s are “trend termination” setups, so why was this a god one to consider ?
Well, first, this DP buy came at the end of a “good looking” 5-wave decline, with support at the minimum Wave 5 WPT as well as the DP zone. Then we had good clear Stochastic divergence at the low. Then the low was also a High Volume Spike. So all these things added together to give “added weight” to the setup.
This nailed the ,low of the day for you, and enabled a trade off the lows for another +3.7R Profit (ignoring slippage and commission). Add this to the +9.7R and +2.5R Profits from earlier and you had a massive day on the YM yesterday....
As I have already said, it still amazes me when we get days like this, I just wish more people would put the work in to understand and fully appreciate how markets really work, so more people can have days like this......
Thanks, Steve
As an Advanced Trader you have the additional skills to be able to further evaluate more advanced setups. For example the DP buy on the 3min YM off the low of the day. Yes the STF was red, which it will be with DP’s a lot of the time as DP’s are “trend termination” setups, so why was this a god one to consider ?
Well, first, this DP buy came at the end of a “good looking” 5-wave decline, with support at the minimum Wave 5 WPT as well as the DP zone. Then we had good clear Stochastic divergence at the low. Then the low was also a High Volume Spike. So all these things added together to give “added weight” to the setup.
This nailed the ,low of the day for you, and enabled a trade off the lows for another +3.7R Profit (ignoring slippage and commission). Add this to the +9.7R and +2.5R Profits from earlier and you had a massive day on the YM yesterday....
As I have already said, it still amazes me when we get days like this, I just wish more people would put the work in to understand and fully appreciate how markets really work, so more people can have days like this......
Thanks, Steve
