Trend, trend, trend.............

After a good week last week it looks like we are back in the harder part of the cycle, particularly for the definition of the larger degree trend. A good “rule of thumb” is that if the picture is unclear then be very cautious or even don’t trade. There are too many amateurs who “over trade” and think they have to trade lots each and every day, this is simply untrue. As I outlined in the Trading Course, there will be times when the picture is unclear. When this happens the best cause of action is to have the patience and discipline to wait until the picture become clear again before committing your valuable trading capital.

Yesterday the 15min trend looked down on all the US e-minis, apart from the 15min YM earlier in the day which looked to be making support at the DP. As such you should have been mainly looking for short trades.

Steve