As we have already seen, when the Typical Wave 3 WPT was reached the profit as +13R (ignoring slippage and commission), and +13R is a massive profit so needs to be protected. This is why I always look at profits in “R” units so you know “how good” profits are at any point. Even just on this chart we already “know” that when a market reaches the Typical Wave 3 WPT that this is the “usual” place where a Wave (3) type swing will end, so the move is started to get near an end. But were there any “other” reasons to suspect the decline was nearing an end..........
Yes, as you can see, using the Elliott Wave module, a wave (5) decline as found, but (more importantly) the low was at the maximum Wave (5) WPT. Also, on the 15min Chart, the Dax had reached an important DP support level (not shown) ........
So here were 3 different reasons that a low as coming in, so it make perfect sense to look to protect such a huge +13R Profit at this point. Again, this is for the more Advanced Traders among you, but do you see how you have the tools in MTPredictor to be able to evaluate the market fully at this time to then make an informed trading decision.
Steve
Yes, as you can see, using the Elliott Wave module, a wave (5) decline as found, but (more importantly) the low was at the maximum Wave (5) WPT. Also, on the 15min Chart, the Dax had reached an important DP support level (not shown) ........
So here were 3 different reasons that a low as coming in, so it make perfect sense to look to protect such a huge +13R Profit at this point. Again, this is for the more Advanced Traders among you, but do you see how you have the tools in MTPredictor to be able to evaluate the market fully at this time to then make an informed trading decision.
Steve
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