OK, let’s move down to the 3min Chart.
Here we had a TS1 sell early in the day, that was stopped out for a -1R loss. Yes losses can and do happen, the trick is keeping them small and under control.
Then, later in the day, just as the 15min TS3 buy was coming in, we had a high volume (VSA) spike that unfolded right at DP support. Yes this is a more Advanced technique, but I have shown it many times before. This nailed the low of the day for you !
It was just a pity that the rally off the low was not stronger, as the ATRStop closed the trade for only a small profit. But +1.5R Profit (ignoring slippage and commission) although small was still larger than the -1R loss earlier. As I have already said, a break-even or small profit on a day when the Cyclical Nature of Trading is in the hard part of the cycle is a good result, remember, this comes on the back of some huge profits last week.
Thanks, Steve
Here we had a TS1 sell early in the day, that was stopped out for a -1R loss. Yes losses can and do happen, the trick is keeping them small and under control.
Then, later in the day, just as the 15min TS3 buy was coming in, we had a high volume (VSA) spike that unfolded right at DP support. Yes this is a more Advanced technique, but I have shown it many times before. This nailed the low of the day for you !
It was just a pity that the rally off the low was not stronger, as the ATRStop closed the trade for only a small profit. But +1.5R Profit (ignoring slippage and commission) although small was still larger than the -1R loss earlier. As I have already said, a break-even or small profit on a day when the Cyclical Nature of Trading is in the hard part of the cycle is a good result, remember, this comes on the back of some huge profits last week.
Thanks, Steve
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