OK, now onto the Advanced traders. If you are a Standard Traders, and cannot follow this, then please do not worry, it will come with experience.
Although this trade was taken on the 5min Chart, can you see how we did reach the DP support zone. So at this point in this time with +8R Profit (which is a good Profit), were there any signs that this decline may be nearing an end.
Yes, on the 3min Chart, there was stochastic divergence “and” the last decline was in a Wave 5. Both of there were suggesting a low was coming in. So combining this with the DP support, “and” you were nearing the end of the day “and” you were on such a massive +8R Profit. The common sense thing to do would be to look to lock in this +8R profit.
As you can see, this nailed the low nicely.
Thanks, Steve
PS, Yes, there were lost more Advanced trades, especially on the Russell in Friday, that I do not have time to go into. So Friday was a very good day on the US e-minis, especially the Russell Index
Although this trade was taken on the 5min Chart, can you see how we did reach the DP support zone. So at this point in this time with +8R Profit (which is a good Profit), were there any signs that this decline may be nearing an end.
Yes, on the 3min Chart, there was stochastic divergence “and” the last decline was in a Wave 5. Both of there were suggesting a low was coming in. So combining this with the DP support, “and” you were nearing the end of the day “and” you were on such a massive +8R Profit. The common sense thing to do would be to look to lock in this +8R profit.
As you can see, this nailed the low nicely.
Thanks, Steve
PS, Yes, there were lost more Advanced trades, especially on the Russell in Friday, that I do not have time to go into. So Friday was a very good day on the US e-minis, especially the Russell Index
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