Holiday time ............

Hi Everybody,

Well it is that time of year when I need a holiday, my last time off was back in January when I hit the snowy slopes of France for a great skiing holiday (the snow was the best in 25 years this year they say !).

I have been working very very hard on the new MTPredictor v6.5 Real-time with our programmer, and quite frankly after many months of 12 hour days and weekend working, I need a rest.

I know you are all waiting patiently for the new Real-time version of MTPredictor, and I can say that we are making good progress, but we are not quite ready for Beta testing yet. Once we enter the Beta phase, I should have a better idea of how much work is left, so that is why I cannot give any potential release dates as yet.

So there will be no posts next week as I am away relaxing and building my energy up for what will be a very exciting summer. We have lots planned and it is going to be very exciting.............

So while I am away I hope you all have great trades and the markets unfold well.....

Steve

Now for the Advanced Traders

OK, now we have seen that support was coming in on the 15min YM chart, so was there any potential trade setups that the more Advanced traders among you could have taken advantage of.........

Well, Yes, as you see, the 3min YM was reversing off the minimum Wave 5 WPT nicely and there was Stochastic divergence at the low. Both of these, “when” combined with 15min DP support were enough for the Advanced traders among you to consider a new long trade.

The result was a nice +5R Profit (ignoring slippage and commission) as the YM rallied strongly into the close

Thanks, Steve

TS3 sell on the 5min YM Part 3

Yep, you guessed it, it is always a good idea to keep an eye on the larger degree trend on the 15mon Chart, so what do you think was the sensible choice when managing your 5min short as an automatic DP buy came in on the 15min Chart.

Exactly, look to tighten shops and look to exit the short trade earlier.

Thanks, Steve

TS3 sell on the 5min YM Part 2

Well, for those of you who follow this Blog regularly will remember that when a target is far away, because of the prior swing being very long (usually due to a big gap opening), you should check the 24hr session as well.

Well, as you can see, the 24hr chart had a very different picture with the low coming in at the first target for a nice +3R Profit.

But were there any other reasons to suspect the decline from the TS3 sell on this 5min chart was nearing an end (hint: 15min Chart)

Thanks, Steve

TS3 sell on the 5min YM

Hi Everybody

I received a few questions recently on what to do when the first target is a long way off and there are “other reasons” (15min Chart) that you suspect a move may be nearing an end, even though it has not reached the first target.

A good example is on the 5min YM yesterday where we had a TS3 sell, see chart to the right.

Steve