DP nails the high of the day !

One for the Advanced Traders among you !

This is a trade that I know a lot of you caught, in that you saw the 15min highs coming in, but then moved down to the 3min chart for a new short trade entry.....

The exit would have been on the high volume (VSA) spike for a very nice +4.3R Profit (ignoring slippage and commission). In fact this had you short from the high of the day, into the low of the day – this is very best a day-trader could ask for

But this does show what is possible once you become more experienced.....

Thanks, Steve

3min NQ

OK, now we have established that the larger degree trend was down, how should you have handled the TS3 buy that came in on the 3min Chart later morning ?

Well, as it was “against” the larger degree 15min down trend, Standard Traders should have ignored the trade. Any Advanced Traders who liked the look of it should have proceeded with caution and used the 100% initial risk guideline.

Yes, there was a -1R loss on a TS3 short trade later in the day, so overall it was a tricky day on the NQ yesterday

Thanks, Steve

15min NQ

Hi Everybody,

As usual, let’s look at the 15min Charts for the “larger degree trend”, most of the US e-minis were making highs at 15min DP resistance yesterday, so this set the trend to down for the 3 and 5min Charts

See chart........

OK, now onto the 3 min NQ chart

Thanks, Steve