Don’t forget the 5min Charts............

I said it a number of time before, but yesterday was a brilliant example of this – dint forget the 5min charts ! As there are very often brilliant trades in this time frames that do not appear on the 3min Charts.

As you can see, on this 5min TF Chart yesterday, there was a perfect TS3 sell, that got you short just before the sharp fall later in the day. As we have also see, this “was in the direction of” the larger degree down trend as well. So all in all, a perfect setup :-)

Standard Traders would have swapped to the ATRStop for trade management as the STF strength band was exceeded. This held the short trade into the close for a massive +12.8R Profit (ignoring slippage and commission) !

Massive trades like this do unfold, you just have to be ready to take them.... Especially when they were are perfect as this one !!

Thanks, Steve

As usual – Larger degree trend first

Hi Everybody,

Today I want to look at the Russell Index (TF), as usual, let’s start with the 15min Chart.

As you can see, the Russell made a high, right at DP resistance (this actually the very high of the day for you !). The Russell then declined to reach the opposing DP late in the afternoon.

As such, the 15min trend was down for all of the day..............

Thanks, Steve