What about the sells ?

Likewise, if the current 15min trend was now up, what should you have done about the 3min NQ sells ?

As I always say, if in doubt or the picture does not look clear, then avoid and pass on the trade. Counter trend trades are only for Advanced Traders then them only if they have a good reason (like a very good looking pattern). These sells on the 3min NQ were not good looking at all, and as such were best avoided.........

But I agree, Friday was not an easy day on the US e-minis. But then this is just another example of the Cyclical Nature of Trading at work....

Thanks, Steve

A test of your nerve...........

After my comments in the post below, can you see how the DP on the 3min YM was one that you could have therefore considered........

But this was defiantly a hard one to manage and a test of your nerve as it basically chopped sideways for hours before finally rallying late in the day

Thanks, Steve

15min ES on Friday

Hi Everybody,

Friday was a tricky day on the US indices if you were not up with your 15min Charts. The one that was of main interest to me was the 15min ES, where the 15min DP supported the low and provided a platform off which a rally late in the day unfolded. So this changed the prior down trend to an uptrend for the shorter term charts.

Yes, this picture was not as clear on the other e-minis, but the 15min ES did find support at this DP, so you should, have been wary about shorts and looking for longs on the other e-minis as well. Even if there are minor differences in the individual e-minis, they are basically all related, so larger degree trends (if the 15min charts are similar) can "generally" apply to all 4 .....

Thanks, Steve