Tuesday, 17 November 2009

Larger degree trend on 15min YM

Hi Everybody,

As always, let’s start with the larger degree trend. Nothing much was happening on the 15min Charts, until the 15min YM reached the Typical Wave 3 WPT. Normally I don’t like taking tares off the Wave 3 WPT as these are “counter trend”, but on the “shorter term charts, a move was likely from this level. As such we can now move down to the 3min Chart to see if any setups were unfolding at this time.....

I have also include some other support / resistance zones on this 15min Chart, and as you can see, these have done a brilliant job, nailing the last few highs and lows absolutely perfectly. I still find it amazing how well this stuff works sometimes !

Thanks

Steve