Hi Everybody
I hope you were all paying close attention to my comments in yesterday’s Blog posts, because yesterday was a perfect example of how to use the larger degree trend. So let’s take a closer look at the 15min YM chart as an example.............
Here we can see that the 15min YM put in a Wave 5 low, with the low right at the typical Wave 5 WPT. The YM then started to rally off this low. This set the larger degree trend to up for the rest of day as the 5min YM rallied up into DP resistance.
OK, with the 15min YM trend UP, what did that mean for the shorter-term 3 and 5min trades ?
Steve
I hope you were all paying close attention to my comments in yesterday’s Blog posts, because yesterday was a perfect example of how to use the larger degree trend. So let’s take a closer look at the 15min YM chart as an example.............
Here we can see that the 15min YM put in a Wave 5 low, with the low right at the typical Wave 5 WPT. The YM then started to rally off this low. This set the larger degree trend to up for the rest of day as the 5min YM rallied up into DP resistance.
OK, with the 15min YM trend UP, what did that mean for the shorter-term 3 and 5min trades ?
Steve
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