Hi Everybody,

At the same time as the NQ sell, there was also a very nice (and perfect) VSA (volume spike analysis) sell on the 3min Russell.

If you look at the chart to the right, you can see a perfect reversal at the DP on the bar “after” the VSA bar that broke to new highs............ And all of this on both STF and Stochastic divergence........... This is about as perfect as this particular setup can get..............

The result, a nice +8R Profit (ignoring slippage and commission) as the Russell declined sharply into the close

Thanks

Steve

Was this the only trade yesterday ?

Well no, the lead up to this brilliant +8R on the 3min NQ was a little quieter. On the right I have a screen shot of the 3min ES, so here we had a small profit from the TS3 early in the day. Then there would have been a -1R loss, followed by a break-even trade at the first attempt at the manual DP high. So just treading water before the massive NQ trade. Again, it shows how you must have patience and disciple when trading, even if you have had a flat and slow day so far and even if the last two days have been tricky, you must keep focused, as the next big trade could only be minutes away

Thanks

Steve

OK, but what of the larger degree 15min Chart I hear you all say ?

Well, if you look at the chart on the right, you can all see how this manual DP sell on the 3min Chart was actually coming off DP resistance on the 15min Chart as well. This is why I always say to keep an eye on the 15min Charts during the day as well. This set up the larger degree trend reversal so gave permission for the lovely 3min sell.

The rest is history, as the NQ collapsed into the close.

But do you all see how patience and disciple would have brought you though the last few days, just treading water, protecting your trading capital, so you were then ready to take full advantage of this massive trade. This is what professional trading is all about.............

Steve

Massive +8R Profit on the 3min NQ

Hi Everybody.........

The cyclical nature of trading is certainly amazing. After a couple of hard days, we then get this massive +8R Profit on the 3min NQ. Yes it was a “manual” trade and therefore only for the more Advanced traders among you, but was a beautiful setup. Can you all see how the NQ made the DP after a 5-wave advance, this is a classic topping pattern. Also, notice the huge divergence in the Stochastic. All of which was pointing to a beautiful sell setup. This nailed the exact high of the day for you !

The NQ then collapsed into the close where a massive +8R Profit (ignoring slippage and commission) as available.

What a brilliant trade, and show how after a few hard days the professional trader must never lose heart as a massive trade is usually just around the corner ...........

Steve