Hi Everybody,
Continuing with the theme earlier in the week on only trading “in the direction of” the larger degree trend, yesterday on the ES was another brilliant example. So let’s start with the position on the 15min Chart. As you can see from the chart on the right, the 15min ES had a DP that the market was rallying up to early in the day, so any buys setups should have been preferred. Then caution should have set in as this 15min DP was reached.
OK, so now let’s move onto the 3 and 5min charts to see how any setups on these “fit in” with the larger degree up trend (for most of the day) on the 15min ES chart yesterday...........
Steve
Continuing with the theme earlier in the week on only trading “in the direction of” the larger degree trend, yesterday on the ES was another brilliant example. So let’s start with the position on the 15min Chart. As you can see from the chart on the right, the 15min ES had a DP that the market was rallying up to early in the day, so any buys setups should have been preferred. Then caution should have set in as this 15min DP was reached.
OK, so now let’s move onto the 3 and 5min charts to see how any setups on these “fit in” with the larger degree up trend (for most of the day) on the 15min ES chart yesterday...........
Steve
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