5min ES part 2

OK, now for the icing on the cake for the Advanced Traders among you.

In the last post we saw how profits were taken at the first projected profit target, however, when we look at the Elliott Wave pattern of the rally during the TS3 long trade, we can see how this unfolded as a 5-wave advance. With the high right at the maximum Wave 5 WPT, this was another reason for the Advanced Traders among you to just bank profits MIT. Because not only were you at the normal TS3 profit target but at the maximum area where a wave 5 was likely to end. So no wonder a high was made there.

This nailed the high of the day for you perfectly.

Thanks

Steve

5min ES again

Hi Everybody,

Now do you all see why I stress the cyclical nature of trading so much ? After a few bad days last week, this week has been brilliant with +9R Profit on the 5min ES on Monday and now another brilliant trade for +3.7R Profit yesterday, again, on the 5min ES. This is what all amateurs traders must know, learn and then understand, trading goes in cycles, there will be quiet and bad times, but these will then be followed by the good and profitable times. We are seeing this yet again in the last few days...

Anyway, back to the nice TS3 buy on the 5min ES yesterday, As you can see form the chart to the right, this had you long from the low of the day. The ES then rallied to make the first projected profit target where +3.7R Profit was available. This was the high of the day. Long form the low of the day, the bank profits at the high of the day – that is a day traders dream

Thanks

Steve