FTSE 3min TS1 sell

Hi Everybody,

A beautiful TS1 sell on the 3min FTSE that is currently underway............ (no STF filter as against a blue STF)

Standard trade management: As the STF Strength Band is exceeded, swap to the ATRStop for trade management.

Trade still open and currently on +8R Profit (ignoring slippage and commission)

So let’s see how this unfolds...........

Steve

NQ – 3min Chart Part 4

For the Advanced Traders among you.

As you can see, the NQ did make a decline into the DP support zone at 12:21EST, BUT the second decline into this zone, that unfolded at a minor DP support with a blue (buy), was the one that interested me the most. The reason for this was that not only did we have double DP support at this level (12:54EST) but it was also on Stochastic divergence. As such, this represented a good buying opportunity.

The trade could have been managed using the ATRStop which would have results in a nice +8R Profit (ignoring slippage and commission), Or the more Advanced Traders among you could have tightened stops as the larger degree DP resistance zone was reached for a +10R Profit (ignoring slippage and commission). Either way, this was a nice setups and one that has been covered in part 2 of the Trading Course.

Thanks, Steve

NQ – 3min Chart Part 3

For the Advanced Traders among you.

Answer: It is the DP from the Prior Wave (4) low

So form a Trading perspective, you should watch the market carefully as the market reaches this DP support zone to see if you have a potential Trade setup. The “ideal” is when the market makes a 3-swing ABC decline into this DP support zone, but other potential setups include minor DP support at oscillator divergence or even a VSA high volume spike.

So let’s see what happens....

Thanks

Steve

NQ – 3min Chart Part 2

For the Advanced Traders among you.

As the chart says: What should the Advanced Traders among you “anticipate” should happen after a Wave 5 swing is completed ? But more importantly, where is the anticipated support zone following a Wave 5 high (Hint: This is covered in Part 2 of the Trading Course)

Thanks

Steve

NQ – 3min Chart

Hi Everybody,

In today’s posts I would like to take a look at just the 3min NQ: Where yesterday was an interesting day that started with a losing TS3 sell.

As all professional traders know, loses can and do unfold, but the trick is keeping them small at just -1R.

But, what unfolded a little later in the day is what really peaked my interest

Thanks

Steve

Back now.............

Hi Everybody,

I am back now after a great few days away, I had a great time and I feel that my batteries are now recharged and I am ready for a great summer in which we have lots of great new things planned for you all :-)

Thanks

Steve