Nails every high and low

This still amazes me when I see this happen again and again ................. If you look at the 5min NQ chart, you can see how every high and low yesterday was nailed by the corresponding WPT support or resistance zone.

This is amazing and shows how powerful the routines are in MTPredictor !

Steve

Advanced Traders

And lastly, for the more Advanced Traders among you...........

Not only was this automatic DP buy on the 5min NQ at larger degree 15min DP support, but it was also at the end of a very nice 5-wave decline.

Steve

Larger degree trend............

This is worth paying special attention to, because the DP should be viewed with caution, and as I have said before they should “only” be used when they fall at “larger degree” support or resistance. And I also like to see them at the end of a clear 5-wave sequence... Well, guess what ? Here we had both ?

I will start with the 15min (larger degree) chart. As you can see, the 5min DP buy also fell at 15min DP support, as such was a good setup to consider.

Again, this is when DP’s should be used, at other times they should be avoided.......

Steve

Don’t forget the 5min Charts

Hi Everybody,

I have said this a number of times before, but please do not forget the 5min charts. I know it is easy to get stuck on the 3min charts, but there are some brilliant (and clean) setups on the 5min charts as well. A perfect example was on the 5min NQ from yesterday............

As you can see, here we had a perfect (and text book) DP buy that nailed the low of the day for you ! If you also remember a few weeks ago I was talking about how to be careful of DP’s and that they should be used with caution ? Well, this was a perfect example of when they “should” be used. I.e. when they fall “in line” with the larger degree picture (which I will look at in the next post).

But for now, this resulted in a very nice +4.9R Profit (ignoring slippage and commission) as the NQ rallied off the low of the day to reach the first target. Notice how the STF was weak, so we use the target, rather than looking to run with the ATRStop.

Thanks