As you can see, the 15min ES Chart had reached DP resistance and had started to decline, so (at the time) the larger degree trend had looked to have reversed down. So should you now consider buys on the shorter 3 and 5min Charts ?
Well, as I have said before, what I suggest is that if you are a newer trader then No, trades against the larger degree trend should be avoided. But if you are more experienced, then you can consider them, but as you know they are against the larger degree trend, then you should look to protect them more aggressively, by moving stops to break-even quicker (100% initial risk level). So it all depends on how confident or experienced you are. But either way, you can make an informed choice as you have a better idea of what the larger degree trend is doing.
Thanks, Steve
Well, as I have said before, what I suggest is that if you are a newer trader then No, trades against the larger degree trend should be avoided. But if you are more experienced, then you can consider them, but as you know they are against the larger degree trend, then you should look to protect them more aggressively, by moving stops to break-even quicker (100% initial risk level). So it all depends on how confident or experienced you are. But either way, you can make an informed choice as you have a better idea of what the larger degree trend is doing.
Thanks, Steve
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