2min ES – Advanced Analysis

If you can see the “minor” 5-waves in the Wave [1] initial decline off the high, here is the 2min chart, where the minor patterns are a lot clearer............

I am not going to say much about this, because I get told off by the standard level traders. But needless to say, this is what MTPredictor is capable of if you wish to take the time and make the effort to “learn” how to trade well. I do find it very sad that so few traders are willing to make this effort, But I guess that is why only a small % of traders will ever be really successful and make the big bucks. The sad reality is that the vast majority of traders are just too lazy or can’t be bother to work hard at anything......

Thanks

Steve

3min ES – Advanced Analysis

OK, onto the bit I like, the Advanced Analysis, as this shows just how good MTPredictor is, once you know what to do and have taken the time to learn and study.

Yesterday I outlined a “perfect” 5-wave Elliott pattern that was followed by an ABC before a sharp decline. Well, guess what, the 3min ES did exactly the same yesterday. Please see the chart to the right. This enabled the Advanced Traders among you to catch this sharp fall later in the day.

Thanks

Steve

3min NQ

OK, now onto to some losses and harder decisions. (As I know how much you all like talking about loses :-) )

Yes, there was a TS3 sell on the 3min NQ as the markets rallied off the lows, and yes that was a valid trade and yes was a valid -1R loss. As we all know losses are OK as long as they are kept small. But the trades I wish to focus on are the buy later in the day..

As you can see, the rally on the NQ reached DP resistance, so bearing that in mind you should have been cautious about any buys later in the day, as the new trend was now down. So, even if you took these you should have been cautious and got your stop to break-even very quickly.

Thanks

Steve

15min ES

Hi Everybody,

First I would like to start with a look at the Elliott Wave module on the 15min ES chart.............. What amazed me was how the low of the day yesterday stopped right at our WPT support. As I said yesterday, sometimes how well this works just amazes me !

Thanks

Steve