Hi Everybody,
Today I would like to have a look at the 3min ES throughout the whole day to show you how a professional trader looks at a market during the day.
As always, let’s start with the larger degree trend, and in the 15min Charts (not shown, you can look at these for yourself) the high of the day was at DP resistance, so this set the trend to be down off that DP. So shorts were the order of the day. This 15min DP can also been seen on the 3min Chart, as you can see, this nailed the high of the day for you !!
Then, about mid morning, a TS3 sell unfolded. However, the market did not decline as anticipated and this would have results in a -1R loss. Yes losses can and do unfold, this is just part of trading. Anybody who tells you that losses do not unfold is lying ! The trick is keeping them small at just -1R.
Then.............. onto the next post
Steve
Today I would like to have a look at the 3min ES throughout the whole day to show you how a professional trader looks at a market during the day.
As always, let’s start with the larger degree trend, and in the 15min Charts (not shown, you can look at these for yourself) the high of the day was at DP resistance, so this set the trend to be down off that DP. So shorts were the order of the day. This 15min DP can also been seen on the 3min Chart, as you can see, this nailed the high of the day for you !!
Then, about mid morning, a TS3 sell unfolded. However, the market did not decline as anticipated and this would have results in a -1R loss. Yes losses can and do unfold, this is just part of trading. Anybody who tells you that losses do not unfold is lying ! The trick is keeping them small at just -1R.
Then.............. onto the next post
Steve
Posts
