TS3 Buy on the 3min ES

OK, Now we have established that we should be looking for buy setups on the shorter term 3 and 5minn Charts, what unfolded on Friday ?

Well, we did get a TS3 buy in the afternoon, please see chart. But, the market only rallied slightly. I hope you have all read the Trading Course ? Because if you have, the you will all know that the most likely place a trade can fail (if it is going to fail) is at the DP from the prior Wave b swing. And that is exactly what happened here.

You all have to remember, that we are still in the harder part of the cycle. You should all know about the “Cyclical Nature of Trading” by now, so we should not anticipate big trades at the moment these will come back soon...

Thanks, Steve

First, the Larger Degree trend

Hi Everybody....

As usual, let’s start by looking at the “larger degree” trend on the 15min ES Chart. This will then set our “position direction” for the actual trades on the shorter-term 3 and 5min Charts.

As you can see, the 15min ES made a low right at DP support on Friday, this then set the trend to up.......

Thanks, Steve