ES 3min – dilemma

Hi Everybody,

I received a very good question for a user yesterday and that was whether to take trades against a bounce of the larger degree DP or not. The TS3 buy on the 3min ES yesterday was a perfect example of this.

As you can see, this was a good looking TS3 Buy, which resulted in a +1.9R Profit using the standard trade management guidelines (ATRStop used as STF was strong). But the question was whether this should have been taken at all because the 15min chart was reversing off DP resistance, please see the next post.

Thanks

Steve