Hi Everybody,
Today I would like to look at a TS3 sell on the 5min Dax and show how the more Advanced Traders among you can make trade management decisions as different levels are reached.
As you can see, this was a brilliant TS3 sell that nailed the high before the Dax declined sharply. As the STF strength band was exceeded, the standard trade management guidelines said to swap to the ATRStop. At this point I must say that it would have been very tempting to take off at least partial profits at the VSA high volume spike that came in as the short reached the Typical Wave C WPT for a very nice +7R Profit. But I want to look at the “decision” you had as the Typical Wave 3 WPT was reached, when the profit was nearer +13R !
For those of you using just the ATRStop, you still would have banked a very nice +6R Profit, but this post is about squeezing out a little more for the more Advanced Traders among you...........
Onto the next post and next chart.
Steve
Today I would like to look at a TS3 sell on the 5min Dax and show how the more Advanced Traders among you can make trade management decisions as different levels are reached.
As you can see, this was a brilliant TS3 sell that nailed the high before the Dax declined sharply. As the STF strength band was exceeded, the standard trade management guidelines said to swap to the ATRStop. At this point I must say that it would have been very tempting to take off at least partial profits at the VSA high volume spike that came in as the short reached the Typical Wave C WPT for a very nice +7R Profit. But I want to look at the “decision” you had as the Typical Wave 3 WPT was reached, when the profit was nearer +13R !
For those of you using just the ATRStop, you still would have banked a very nice +6R Profit, but this post is about squeezing out a little more for the more Advanced Traders among you...........
Onto the next post and next chart.
Steve
PS, I have the wrong title in the chart, it was a 5min chart and not a 3min.... sorry
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