3min Chart

OK, so now we know to “favour” the shorts and avoid the buys, what would than mean on our 3 losses and 1 Profit for a +1R total form the Standard Traders Blog ?

As you can see, instantly, the 3 losing “buys” would have been avoided, as they were “against” the 15min down trend. Not only that, but we would have looked to “run” the TS3 short further (as it was in the direction of the larger degree trend), using the ATRStop.

This would have had the results of turning a +1R day for the Standard Traders, into a +7R day (ignoring slippage and commission), once the Advanced Trader brought the larger degree trend, on the 15min Chart into the mix........... Amazing !

Thanks, Steve

Larger degree trend

Hi Everybody,

As we have already seen, there were a number of losing trades on the 3min YM Chart (Main Blog post) BUT, what happens when we look at the “larger degree” trend on the 15min YNM chart ?

Well, as you can see, the 15min YM made a high at DP resistance, and then started to decline, this set the larger degree trend to down for you. So, you have guessed it, this means that we should have been “favouring” the short trades and avoiding the buys.

In fact this DP nailed then very high of the day for you - Amazing !!

Thanks, Steve

DP From Wave 4

OK, so far we have seen, the “larger degree” trend was up, for a DP low on the 15min NQ Chart. But now let’s take a closer look at the 3min ES, that had all those losing short trades in the afternoon.

As you can see, the 3min ES made a Wave 5 low, so the question is “where is the first target following a Wave 5 low” ? This is covered in Part 2 of the Trading Course, so I hope you have all read and studied the Course !

Exactly, the DP from the prior Wave 4 high. Combine this with a low on the 15min NQW chart and you would have had confidence that the new trend was UP off the Wave 5 low. This would have helped you avoid the losing sell setups as the ES rallied, exactly as anticipated.....

This is why I keep on encouraging you to study and learn, all the info you need is here, you just need to learn it ! Once you do you will learn an amazing ability to be able to anticipate the future far better than you would have ever believe was possible. Most people never get to this level, because they simply cannot be bothered to take the time and do the work necessary, they seen to expect to be given everything on a plate for them, and do not work. Well, the world is not like that, the best rewards are saved for those of you who are committed and willing to work the hardest.

Thanks, Steve

Larger degree trend

Hi Everybody,

I always talk about keeping an eye on the 15min charts and always to follow all 4 US e-minis, well yesterday was a great example of why. First we had the 15min NQ make a low right at DP support, see chart. As the markets started to rally, this should have set alarm bells going off that the current decline was over and the “most likely” direction was now UP.

OK, now let’s look at that 3min ES chart again, and see who “really” knows the material in the Trading Course !

Thanks, Steve

DP nails the high !

OK, now we have seen that the 15min Chart was signalling a potential high, lets zoom down to the 3min Chart to take a closer look.

Here we can see that the YM made a reversal right at DP resistance and on Stochastic divergence. This (as it fell in line with the 15min Chart), means that this was a good short trade to consider. This nailed the high of the day for you !

The YM then declined nicely and a +4R Profit (ignoring slippage and commission) was available as the TS3 buy came in............. a very nice addition to the other Profits that came in later in the day.

Thanks, Steve

DP nails the high !

Hi Everybody,

The YM was in an interesting position yesterday, as a automatic DP sell came in mid morning on the 15min Chart. So the question arises, “if” the 15min Chart was signalling that a high was coming in, how could the Advanced Traders among you take advantage on the shorter terms charts.

So let’s take a look

Steve

DP form Wave 4 low

Hi Everybody,

I know that you have all carefully studies the Trading course ! So you will all know that a good area of support is the DP form the prior minor Wave 4 swing. Well, look at how the YM unfolded yesterday........ We got a 5 wave rally, with MTP nailed the wave 5 high ! But then (and this is what interested me) we got a decline onto the DP from the prior Wave 4 low. Not only that, but the blur buy bar at 11:51EST was on lovely Stochastic divergence. This nailed the low beautifully.

The YM then rallied to reach the higher DP, where a nice +2.2R Profit (ignoring slippage and commission) was available.

A nice trade, on what was otherwise a quiet day..... But the quiet days over the last few days have still given a number of more “Advanced” setups. So this is why I encourage you all to take the time and learn how to spot these trades.....

Thanks, Steve