Hi Everybody,
I keep going on about the larger degree trend, and in particular, why it is so important to only consider DP trades when they also fall at larger degree support or resistance. Well, yesterday was a perfect example on the Russell Index.
To show what I mean, lets first look at the 15min chart.
Can you all see how the high of the day fell at DP resistance ? Therefore, this was a good time to consider any shorter term (3min) DP short trades........... So let’s move to the 3min chart and see what we got :-)
Thanks
Steve
I keep going on about the larger degree trend, and in particular, why it is so important to only consider DP trades when they also fall at larger degree support or resistance. Well, yesterday was a perfect example on the Russell Index.
To show what I mean, lets first look at the 15min chart.
Can you all see how the high of the day fell at DP resistance ? Therefore, this was a good time to consider any shorter term (3min) DP short trades........... So let’s move to the 3min chart and see what we got :-)
Thanks
Steve
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