FOREX – JPYUSD 60min Chart

Hi Everybody,

I was asked this morning about FOREX and MTPredictor, well here is a lovely TS3 sell that has just reached the first WPT profit target on a JPYUSD 60min Chart.

Notice how we have automatic Position Sizing in MTPredictor for standard ($10) mini ($1) and micro ($0.1) Forex contracts ....

Steve

Dax short – Part 2 (5min Chart)

As we have already seen, when the Typical Wave 3 WPT was reached the profit as +13R (ignoring slippage and commission), and +13R is a massive profit so needs to be protected. This is why I always look at profits in “R” units so you know “how good” profits are at any point. Even just on this chart we already “know” that when a market reaches the Typical Wave 3 WPT that this is the “usual” place where a Wave (3) type swing will end, so the move is started to get near an end. But were there any “other” reasons to suspect the decline was nearing an end..........

Yes, as you can see, using the Elliott Wave module, a wave (5) decline as found, but (more importantly) the low was at the maximum Wave (5) WPT. Also, on the 15min Chart, the Dax had reached an important DP support level (not shown) ........

So here were 3 different reasons that a low as coming in, so it make perfect sense to look to protect such a huge +13R Profit at this point. Again, this is for the more Advanced Traders among you, but do you see how you have the tools in MTPredictor to be able to evaluate the market fully at this time to then make an informed trading decision.

Steve

Dax short – Part 1 (5min Chart)

Hi Everybody,

Today I would like to look at a TS3 sell on the 5min Dax and show how the more Advanced Traders among you can make trade management decisions as different levels are reached.

As you can see, this was a brilliant TS3 sell that nailed the high before the Dax declined sharply. As the STF strength band was exceeded, the standard trade management guidelines said to swap to the ATRStop. At this point I must say that it would have been very tempting to take off at least partial profits at the VSA high volume spike that came in as the short reached the Typical Wave C WPT for a very nice +7R Profit. But I want to look at the “decision” you had as the Typical Wave 3 WPT was reached, when the profit was nearer +13R !

For those of you using just the ATRStop, you still would have banked a very nice +6R Profit, but this post is about squeezing out a little more for the more Advanced Traders among you...........

Onto the next post and next chart.

Steve

PS, I have the wrong title in the chart, it was a 5min chart and not a 3min.... sorry