5min YM

Hi Everybody

After a tricky start we did get a nice manual DP sell towards the end of the day on the 5min YM. As this was a manual trade, it should, be consider more of an Advanced setup. As you can see from the chart this was also on a VSA high volume spike as well as on STF divergence (not shown).

Also, the reason I liked this setup is that it was “in line with” the 15min chart that was at 15min DP resistance.

As you can see, a +3.8R Profit (ignoring slippage and commission) was a nice end to what was otherwise a boring day....

Thanks

Steve

What to do when the pattern is unclear...

Hi Everybody

Most of yesterday was a hard day especially as the picture was not clear as the US e-minis dipped down though DP support and then drifted higher. So this does raise a good question – what do you do if the pattern is unclear ? Well, as I say in the Trading Course Part 1, the pattern on most markets will be unclear about 50% of the time, so this is something all professional traders will need to handle on a regular basis.

Common sense should step in here and tell you that when the pattern is unclear, you should do nothing. It is always best to only works with the clearest patterns. This is something I teach and mention regularly in my training webinars as well as outline in the Trading Course

Again, this is where we are different, here at MTPredictor, in that we deal with the realities of trading, and show you how to handle situations like this which will come up regularly.

Thanks

Steve