3min YM Part 3

OK, now let’s take a look at the DP sell at 13:45EST. As you can see this was also a very good looking 5 wave sequence, with the high unfolding at the Typical Wave 5 WPT. As such this made the DP sell a good one to consider, so time to stop and reverse again.....

This turned out to be the high of the day (!), with the YM declining nicely into the opposing DP target for a nice +4.6R Profit (ignoring slippage and commission)

What a day, 4 automatic trades, -1R, +3.6R,+3.6R and +4.6R for a +10R (approx) day overall............

As we have seen, not all days are as good as this, but as we have been following the cyclical nature of trading, day by day, can you all how see how a good run of days, was then followed by some harder days, where some small losses unfolded, which was then followed by some massive profits again. This is how trading unfolds in the real world. Do not expect to make profits every day, have the patience discipline and knowledge to expect good times, then harder and quieter times before the good times come round again.....

Steve

3min YM Part 2

OK, now you are long off the TS2 buy at 12:54EST................ The YM rallies nicely bit then a DP sell unfolds at 13:45EST. As you all know, I don’t like DP’s unless they are at larger degree support/resistance or they are at the end of a good looking Wave 5.

Well, as we will see in the next post, this DP sell was also a perfect Wave 5 high, so time to stop and reverse again, banking another nice +3.6R Profit (ignoring slippage and commission)

Steve

3min YM Part 1

Hi Everybody.

Wow, isn’t the cyclical nature of trading absolutely amazing. After a few hard days we have now had another brilliant day on the US e-minis. Today I would like to take a look at just one market – the 3min YM as it gave us some amazing setups yesterday.

Let’s start with a TS4 sell, that gave a -1R loss at 12:09EST (yes losses can and do happen, but the trick is keeping them small). This was followed by another TS4 sell at 12:24EST. This one declined nicely until a TS2 buy unfolded at 12:54EST, so time to “stop and reverse”. This banked a nice +3.6R Profit (ignoring slippage and commission).

So far so good............

Steve