So the question is whether the TS3 sell on the 3min ES chart was “in the direct of” the 15min Trend ?
If you look at the chart to the right you can see how the 15min ES had hit DP resistance and was starting to decline. So yes, the 15min trend “at that time” had turned down, so looking for sells on the 3min chart was correct.
What most amateurs do not understand is that sometimes, no matter what our analysis says, the markets does what it wants, that is why we have stops in the market. In this case the stops did their job by keeping the loss small at just -1R
Thanks, Steve
If you look at the chart to the right you can see how the 15min ES had hit DP resistance and was starting to decline. So yes, the 15min trend “at that time” had turned down, so looking for sells on the 3min chart was correct.
What most amateurs do not understand is that sometimes, no matter what our analysis says, the markets does what it wants, that is why we have stops in the market. In this case the stops did their job by keeping the loss small at just -1R
Thanks, Steve
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