OK, now everything looks good, the trade can be taken, and then managed, on the 3min Chart.
Here we use a break of the low of the red (sell) bar at Wave 2orB WPT resistance to enter the short trade. Notice how the 1min abc confirmation helped us avoid the first red bar at this resistance zone. That is why I always need to look at the lower time frame for confirmation of the lesser degree abc pattern...
As the STF was strong (beyond the strength band) the trade can be managed using the ATRStop. The result was a very nice +10R Profit (ignoring slippage and commission) as the ES collapsed for the rest of the morning......
I hope you have all appreciated a bit more of an “in depth” post today showing you more advanced techniques that can be used with the software :-)
Thanks, Steve
Here we use a break of the low of the red (sell) bar at Wave 2orB WPT resistance to enter the short trade. Notice how the 1min abc confirmation helped us avoid the first red bar at this resistance zone. That is why I always need to look at the lower time frame for confirmation of the lesser degree abc pattern...
As the STF was strong (beyond the strength band) the trade can be managed using the ATRStop. The result was a very nice +10R Profit (ignoring slippage and commission) as the ES collapsed for the rest of the morning......
I hope you have all appreciated a bit more of an “in depth” post today showing you more advanced techniques that can be used with the software :-)
Thanks, Steve
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