Hi Everybody,
Today I would like to look at the NQ, particularly on the 3min chart to see how it evolved during the day yesterday.
First let’s start with the initial decline, notice how that stopped right at the extended Wave 3 WPT, this nailed the low of the day for you !
Then we had a good looking TS3 sell, and yes (after the initial sharp fall) the chart looked bearish, so taking this sell was OK. However, this was stopped out for a -1R loss. Yes, we all know loses can and do happen, but this loss was kept small and under control, so you were doing your job well here.
But, it is what happened next that I would like to focus on............ particularly how you view a market that rallies past the typical wave C WPT, what does this mean ?
Onto the next post,
Steve
Today I would like to look at the NQ, particularly on the 3min chart to see how it evolved during the day yesterday.
First let’s start with the initial decline, notice how that stopped right at the extended Wave 3 WPT, this nailed the low of the day for you !
Then we had a good looking TS3 sell, and yes (after the initial sharp fall) the chart looked bearish, so taking this sell was OK. However, this was stopped out for a -1R loss. Yes, we all know loses can and do happen, but this loss was kept small and under control, so you were doing your job well here.
But, it is what happened next that I would like to focus on............ particularly how you view a market that rallies past the typical wave C WPT, what does this mean ?
Onto the next post,
Steve
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