Hi Everybody,
The US E-minis have been brilliant last week and have given us some fantastic and huge profitable trades. In fact, there have so many profitable trades, that I was unable to look at them all in this Blog. But, as we all know form the Cyclical Nature of Trading, after such a good run, then we are overdue for the hard part of the cycle, and that looks to be what happened yesterday with a tracker and quieter day.
Let’s start by looking at the 15min Chart of the NQ, where a Wave 5 high unfolded almost (within a whisker) of DP resistance as well. That set the trend as down in the early part of the day, until the TS3 buy (ABC) low came in later in the day.
So the 15min trend was down in the first part of the day, then turned up later in the day............... Now, onto the 3min Chart.
Thanks, Steve
The US E-minis have been brilliant last week and have given us some fantastic and huge profitable trades. In fact, there have so many profitable trades, that I was unable to look at them all in this Blog. But, as we all know form the Cyclical Nature of Trading, after such a good run, then we are overdue for the hard part of the cycle, and that looks to be what happened yesterday with a tracker and quieter day.
Let’s start by looking at the 15min Chart of the NQ, where a Wave 5 high unfolded almost (within a whisker) of DP resistance as well. That set the trend as down in the early part of the day, until the TS3 buy (ABC) low came in later in the day.
So the 15min trend was down in the first part of the day, then turned up later in the day............... Now, onto the 3min Chart.
Thanks, Steve
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