Trades on the 3min Chart

OK, let’s now look at the 3min YM chart.

As I have already said, we had two automatic Buy setups, but can you see the difference, now you have seen the “larger degree trend” on the 15min Chart ? The first (TS3 buy) was “with” the up trend, at the time, into the 15min DP. But (and this is important), the second (TS4 buy) was “against” a new down trend as the 15min Chart found resistance at the 15min DP.

So the first trade was a good one to consider, while the second was best avoided.......

This has been a good example for you all to see how to use the 15in chart for the “larger degree trend”....

Thanks, Steve

15min Trend on YM

Hi Everybody,

The YM yesterday was a great example of how the 15min trend turned from up to down as the 15min chart hit DP resistance. This can be clearly seen on the chart to the right.

This had a direct impact on the 3min chart as we had two buy setups, but the first was “with” the 15min up trend into the 15min DP in the morning, the second was “against a new down trend as the 15 YM declined off DP resistance.

Let’s take a closer look in the next post....

Thanks, Steve