Hi Everybody,
When there are few setups, the more Advanced among you can also look for “ABC” patterns that unfold by themselves. A good example was on the 3min YM yesterday, where an ABC correction unfolded after the initial decline from the high. This could have been used to enter a new short trade...........
The YM then declined sharply. A simple trade management strategy could have been the ATRStop that would have resulted in a nice +6R Profit (ignoring slippage and commission).
But because this was found using the Elliott Waves module it should be considered an Advanced technique.
Thanks, Steve
When there are few setups, the more Advanced among you can also look for “ABC” patterns that unfold by themselves. A good example was on the 3min YM yesterday, where an ABC correction unfolded after the initial decline from the high. This could have been used to enter a new short trade...........
The YM then declined sharply. A simple trade management strategy could have been the ATRStop that would have resulted in a nice +6R Profit (ignoring slippage and commission).
But because this was found using the Elliott Waves module it should be considered an Advanced technique.
Thanks, Steve
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