And for the Advanced Traders....

There was also added conformation from Stochastic divergence and a high volume (VSA) bar unfolding at this same TS4 low as well. Both these added extra weight to the standard TS4 buy setups for the Advanced Traders among you.

Thanks, Steve

Don’t trade too short a time frame !

Hi Everybody,

Yesterday was a perfect example of why I tell you all not to trade too short a time frame. If you only look at the really short time frames then you can lose sight of the larger degree picture. For example you could have been trying to “top pick” as the strong rally yesterday afternoon unfolded. BUT........ if you have been looking at a longer 5min chart then you would have nailed the low of the day on the YM and then rode the strong rally up all day.........

Please see the chart, as you can see a standard and automatic TS4 buy on the 5min YM had you long form the low of the day ! The STF was blue and the larger degree trend was still up............ The YM rallied strongly into the close for a massive +9R Profit (ignoring slippage and commission) but the point is that this was an easy trade on the 5min chart, that could have been missed buy getting “too close” to the market with too short a time frame chart.

Thanks, Steve