Hi Everybody,
Yesterday was an interesting day, with the markets working their way high for most of the day, until a DP sell arrive on the 3min YM at 14:45 EST. As you all know, I am always cautious about DP setup, as they must be in tune with the larger degree trend, i.e. at “larger degree” support or resistance. As you have see from the last post, the 15min YM was right at the Typical Wave 3 WPT, so a decline was likely, as such this 3min DP sell was a good one to consider.
As you can see, this nailed the very high of the day for you !!
The YM then declined nicely. As the STF strength band was exceeded the ATRStop was used for trade management (standard trade management guidelines). The result was a nice +3.8R Profit (ignoring slippage and commission).
A nice start to the week :-)
Steve
Yesterday was an interesting day, with the markets working their way high for most of the day, until a DP sell arrive on the 3min YM at 14:45 EST. As you all know, I am always cautious about DP setup, as they must be in tune with the larger degree trend, i.e. at “larger degree” support or resistance. As you have see from the last post, the 15min YM was right at the Typical Wave 3 WPT, so a decline was likely, as such this 3min DP sell was a good one to consider.
As you can see, this nailed the very high of the day for you !!
The YM then declined nicely. As the STF strength band was exceeded the ATRStop was used for trade management (standard trade management guidelines). The result was a nice +3.8R Profit (ignoring slippage and commission).
A nice start to the week :-)
Steve
Posts
