Hi Everybody,
It is very nice to be in the “good part” of the cycle at the moment, with yet another good day on the US e-minis yesterday. I particularly liked the TS1 sell on the 3min YM, please see chart to the right. Niote that although there as a “history” triangle, this was not a loss, as this first short was not stopped out, as there was a double top. Remember, the history triangles are “filled” trades and not “failed” trades. Please see the video on the v6.5 support page.
Anyway, the YM declined nicely and as the STF was strong, Standard Traders would have swapped to the ATRStop for a nice +4.6R Profit (ignoring slippage and commission). Advanced Traders would have thought about locking in nearer +6R Profit as the Typical Wave 3 WPT was reached. Either way, this was a good start to the day :)
Thanks, Steve
It is very nice to be in the “good part” of the cycle at the moment, with yet another good day on the US e-minis yesterday. I particularly liked the TS1 sell on the 3min YM, please see chart to the right. Niote that although there as a “history” triangle, this was not a loss, as this first short was not stopped out, as there was a double top. Remember, the history triangles are “filled” trades and not “failed” trades. Please see the video on the v6.5 support page.
Anyway, the YM declined nicely and as the STF was strong, Standard Traders would have swapped to the ATRStop for a nice +4.6R Profit (ignoring slippage and commission). Advanced Traders would have thought about locking in nearer +6R Profit as the Typical Wave 3 WPT was reached. Either way, this was a good start to the day :)
Thanks, Steve
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