Advanced Elliott Wave

Hi Everybody..........

This is one for the Advanced Traders among you.........

I still find it absolutely amazing how well this stuff works. Just look at this example from this morning on the 3min DAX. A perfect 5 wave decline, with the low right at the Typical Wave 5 WPT. Then an abc rally into the Typical Wave C WPT (and the DP from the prior wave 4 high), before a fall into the lower DP............

This is exactly as outlined in the Trading Course, and here it is unfolding absolutely perfectly right in front of your eyes........... This is MTPredictor at its best - Absolutely amazing !!!

Steve

3min NQ

Sorry to go on about this, but I do find it very annoying when I get emails from people moaning that I have not mentioned a particular losing trade in my posts. I simply cannot include every trade. These post are for education to help you become better trades.

But what annoys me most is the moaners are all too quick to “have a go” at a particular losing trade I did not mention, but “all too conveniently” seem to forget about all the brilliant and profitable trades that I also don’t have time to mention.

Here is a great example on the 3min NQ from yesterday. A DP buy that nailed the low of the day for you. Then Advanced Traders would have used the Elliott Wave module to see that the rally was past the typical Wave 3 WPT so would have started to tail the stop. The result was a nice +4R Profit (ignoring slippage and commission).

So please if you are going to moan, then why don’t you moan about all the good trades that I do not have time to mention :-)

Thanks, Steve

3min YM

OK, now we know that the TS3 buy outlined in the post below was one to be avoided, let’s look at the rest of the day on the 3min YM. I have deliberately chosen to look at the YM because it had some losing trades in, and just to keep all the moaners quiet I will (yet again) talk about losing trades. There are very few Gurus who go out of their way to talk about losses and deliberately choose bad examples to show. This just shows how we are different here at MTPredictor and how we talk about the “good the bad and the ugly” of trading, in others words – the “real” world of trading.

So overall there were three trades, two -1R losses and one +5.6R Profit (ignoring the later TS3 sell because if symmetry reasons, as outlined in the post below), making it a good day overall on the 3min YM.

This is why we have included the history signals in the new MTPv6.5, so you can see all the trades generated. As you all know, I do not suggest blindly taking “all” the trades, you have to filer them using the larger degree trend and pattern (if they look really unsymmetrical).........

Thanks, Steve

Setup to avoid

Hi Everybody,

Today I would like to look at setups to avoid because they don’t “look right”. Yes we have the “symmetry” Filters in the software, but I know that most of you (including me) run with these “off”, so we do need to filter out any setups that look too unsymmetrical, for example the TS3 buy in the afternoon on the 3min YM yesterday.

What do I mean by unsymmetrical ? Well, I don’t like abc patterns where the wave b (in particular) is very very short in time when compared to the Wave a and b. Also a very long Wave a in time when compared to Wave c does not “good look” either.

Also, the trigger bar was 5 bars after the turn. I have mentioned before that I like trades to be filled on the bar or bar +1 after the turn, so 5 bars after is a bit late.

Combine this with the horrible symmetry and that is why this TS4 buy was one to be avoided as it did not “look good”.

Thanks, Steve