Friday 29 January 2010

My favourite trade setup


OK, now we get onto what I consider my favourite trade setup, and one that is covered in the Trading Course and one that I talk about a lot. Please take a look at the chart.

Step 1 – a Major low unfolded at DP support
Step2 – an “initial rally” off the low, this is Wave (1)
Step3 – we now look for the “initial correction” to unfolded as a lesser degree abc, this is the Wave (2) low
Step4 - we then target the Typical Wave (3) for a strong rally

As you can see, this is EXACTLY what unfolded yesterday on the 3min ES. So I have a question for you all, how many of you saw this and as such took this trade yesterday ? Please email in to me to let me know...

The result as a very nice +4.9R Profit (ignoring slippage and commission)

Thanks, Steve

high volume (VSA) spike


OK, before we get onto the mail setup yesterday, there was a brilliant high volume (VSA) spike buy that nailed the very low of the day on the 3min ES.

As you can see, this was a classic and perfect example of our VSA setup, where we had support at the DP, then got the high volume (VSA) signal on the volume with a blue (buy) bar nailing the low....

This nailed the very low of the day for you – amazing !

Thanks, Steve

As usual – larger degree trend first


Hi Everybody,

I am very excited about today’s posts as we will all see my favourite setup later. But first, let’s take a look at the 15min Chart.

As you can see, the day started with a 15min Down trend, until the 15min ES reached the DP level, where the market stopped and reversed perfectly. In fact we had an automatic DP buy at that low. So this then turned the trend to up for the rest of the day.

Amazing how well these DP’s levels work :)

Thanks, Steve

Thursday 28 January 2010

DAX +7R profit !


Hi Everybody,

Nice to see the European Traders among you having a great day so far. As you can see the DAX gave us a nice TS1 sell earlier this morning that would have had you short, just before the DAX declined sharply.

With the STF strong, the ATRStop would have been used for standard trade management for a nice +7R Profit (ignoring slippage and commission)

A nice standard trade using the automatic setups and standard trade management guidelines

Thanks, Steve

Small loses and Big Profits


Hi Everybody,

As I suspected, yesterdays was a lot harder than the last few days. But then a hard day was only to be expected, as I outlined a few days ago in my post on the Cyclical Nature of Trading. But today I would like to look at why it is so important to keep your losses small .

The 3min YM was a good example of this, as there were profitable trades as well as losses (small triangles) yesterday. But I just wanted to remind you all that the trick is keeping the losses small. Even with two losses, at -1R each, were more than made up for by just one profit later in the day at +3R (ignoring slippage and commission).

This is the trick to successful trading and the real Holy Grail, it is not about being right, or being able to predict the future, it is all about risk control and keeping your losses small. Amateur traders never seem to fully understand this. But you have to know and then accept this if you are ever to make the step to a successful and professional trader....

Thanks, Steve

Wednesday 27 January 2010

Wave 5 nails high of the day !


OK, If you look back at the first post today on the 15min, you can see that the DP’s not only nailed the low of the day for us, but also nailed the high of the day !

Sop was there anything that would have helped nail this high on the 3min Chart ? There certainly was

If you look at the chart, you can see how the Elliott Wave module found a 5-wave sequence going into the high. But (this is the important part) can you see how the high of the day fell right at the Typical Wave 5 WPT ! The YM then decline sharply for the rest of the day....

What a day yesterday, where the tools in MTPredictor nailed both the high and low of the day for you in the US markets, absolutely brilliant !

Thanks, Steve

Perfect TS3 buy on the 3min NQ


OK, now we know that the larger degree trend was up in the morning yesterday, were there any Standard Automatic setups that the Standard Traders among you could have taken advantage of ?

Yes, there certainly was IF you look at the chart you can see that the 3min NQ gave us a lovely TS3 buy around mid morning. The NQ rallied nicely to the first profit target, where the STF was strong, so standard trade management swapped to the ATRStop. The NQ continued higher until it was stopped out for a nice +4R Profit (ignoring slippage and commission).

This was a perfect example of what I was talking about when I say that it is best to wait for the “ideal trades”, well this was perfect, a nice ABC pattern that also fell in line with a clear and obvious larger degree up trend. Not al days are easy, but when they are obvious (like this), then take them :)

Thanks, Steve

Gap opening DP play on the YM


OK, now we know that the YM was at DP support on the 15min Chart near the open, we could have used the Advanced technique that I have talked about before of looking for a reversal at DP support / resistance, just after the open. Especially when this “falls in line” with larger degree support / resistance. Yesterday was a perfect example of this......

As you can see, this had you long from the very low of the day !

The YM then rallied nicely into the opposing DP where +4.3R Profit (ignoring slippage and commission) was available.

Thanks, Steve

DP’s nail the high and low of the day !


Hi Everybody,

WOW, what a day yesterday, the DP’s on the 15min YM chart nailed BOTH the high and the low of the day for us. Absolutely amazing !

This is how well the DP’s work, and why we use them for the larger degree trend identification. Agreed, they don’t work all the time, but then nothing does, and that is not how to trade. That is why we use the “isolation approach” so we work with what is working “here and now”. This is what successful trading is all about and a skill all successful professional traders must learn.

In the DP’s you have one of the best support / resistance tools on the market, so use them :)

Thanks, Steve

Tuesday 26 January 2010

TS4 long on the 3min NQ


OK, now let’s take a look at the 3min NQ. We already know that we should have been looking for long trades, as the 15min NQ was at WPT support.................... And we now know that we should be protecting any longs as the 15min TS3 sell came in.........

As you can see, we did indeed get a good looking TS4 buy on the 3min NQ chart, off which a rally unfolded. But this rally looked weak with divergence as new highs came in. So this is why I suggest being more aggressive and protecting the +3.4R Profit (ignoring slippage and commission) later in the day.

A tricky day, but then this was to be expected....

Thanks

Steve

15min ES chart


I normally now move down to the 3min charts for the actual trades, but today I want to also look at the 15min ES chart first, because this has a bearing on trade management on the 3min TS4 long that I will look at in a minute.

The part to focus ion is the TS3 sell that unfolded later in the day. When this came in, alarm bells should have started to ring and this is why I suggest protecting the TS4 long on the 3min chart more aggressively. Especially as we are heading towards the harder part of the trading Cycle (Cyclical Nature of Trading)

Thanks

Steve

15min NQ chart

Hi Everybody,

As I said in yesterday’ post, yesterday was a harder day in the US eminis. But after a few days of sharp declines, a low was likely and the best setup was on the 15min NQ, where the low yesterday came in right at the Typical Wave 3 WPT.

I agree, this was not perfect, and that is why caution should have been used on any long trades. But still longs should have been preferred over shorts yesterday.

Thanks

Steve

Monday 25 January 2010

Cyclical nature of Trading

OK, now we have had a few very very good days in the US e-minis with some massive profitable trades, we must keep an eye on the Cyclical Nature of Trading.

Too many amateurs wait for a few good trades before they take place their trades, but then a few losses come along so they stop, then they see a few good trades so they start again, then a few losses come round. In other words they do exactly the wrong thing !

Once you understand the Cyclical nature of Trading you will understand that you should be come cautious about trades after a good run, and then get keener to place trades after a run of bad trades. This is what professional do, because they understand that profits and losses come round in cycles.

The amateur tends to do exactly the wrong thing at the wrong time... because they do not understand how markets unfold in the “real-world”. So my advice, is to be slightly more cautious now as we have had a run of very good trades...............

Thanks, Steve

TS4 sell on the 3min YM


OK, now we know that we should be focusing on the sells (and not the buys), the min YM did give us a lovely TS4 sell around 11:00am

The YM then declined nicely, past a potential buy, but we have already determined that the larger degree trend was down, so this buy should have been ignored in preference of the current short trade.

The YM then reached the first projected profit target when (using the standard trade management guidelines) a very nice +4.9R Profit was available (using slippage and commission)

A good end to a very good few days in the US e-minis :)

Thanks, Steve

As usual – larger degree trend first


Hi Everybody,

The trend on the 15min YM on Friday was Still down, with no visible DP or WPT support at all. As such, we should have been focusing on sells on Friday and ignoring Buy setups.

OK, with that in mind, lets now move down to the 3min Chart

Thanks, Steve

Friday 22 January 2010

DP buy on the 3min Chart

Now we have confidence in the 15min DP support we can consider the 3min DP long trade.

Yes, it was a hard and boring trade, but the NQ did reach the first DP profit target. Using standard trade management guidelines, meant taking profits there as the STF was weak. This added another +2.2R Profit (ignoring slippage and commission) to what was already a brilliant and very profitable day on the NQ.....

Thanks, Steve

Back to the 15min Chart


OK, so what of the 3min DP buy that we saw at the end of the last post. Well, this is where we go back to the 15min Chart and check the “larger degree” position.

When we do that, we can see that the 15min NQ is now at DP support, so this not only the logical place to start to banks profits on the prior DPO short trade, but also look to reverse to a new long trade....

Thanks, Steve

Isolation approach to Elliott Wave Part 2


OK, on the 3min Chart, we got a lovely 3min DP sell setup. As we have seen, we were already anticipating a decline on the 15min Chart, so this was a good 3min sell to consider.

Now comes the important part................. The markets actually declined a lot faster and sharper than a 15min Wave (4) correction would expect............... Sop in “traditional Elliott Wave terms”, the pattern had gone wrong.............. BUT (and this is the really important part). Do we care ? Well, no, because we have a short trade that is now running further and as such making more money than anticipated......

This is so important, and why the Isolation approach to Elliott Wave actually works far better in the “real world” because Elliott Wave patterns fails so many time, BUT when they are obvious, they do give brilliant “trade entries”. And this is the important difference, in that we use the pattern for the trade entry only and then manage accordingly, and do not worry about any “forecasts” !

The result, a lovely +6.8R Profit (ignoring slippage and commission) as a DP comes in

Thanks, Steve

Isolation approach to Elliott Wave

Hi Everybody,

Yesterday was a perfect example of why I invented my unique “isolation approach” to Elliott wave analysis, where we use Elliott Wave patterns “just” for the trade entry and then “do not” try and “forecast” where the market will go next. This is the biggest mistake an traders can do, and is actually not necessary for trading profits, as we will see in this example

Here the 15min NQ was at a Wave (3) high, so normally Elliott wave analysis would expect a Wave (4) type decline. But the point is that a decline was anticipated, so we could look for sells on the 3min Charts.....

OK, onto the 3min Chart , Steve

Thursday 21 January 2010

5min TS1 long on the NQ


OK, now we have a clear 15min DP support and as such the 15min trend had turned up, we start to look for Buys.

And then we got this TS1 long on the 5min NQ chart. Why was this so good ? Well for those of you who have studied the Trading Course, you will know that a TS1 is off the Wave (2) correction, so “ideally” we look to play into the Wave (3) WPT. AND, the TS1 “ideally” comes as the first setup in the new trend direction just after a major turn. Well, that was exactly the picture here, so everything was fitting together very nicely indeed.

The long trade did do as anticipated and did reach the Typical Wave 3 WPT just before the close. For the standard traders among you the STF was strong at the first target as well. But because we were playing for the Typical Wave (3) WPT this was the perfect place to look to bank +7.3R Profit (ignoring slippage and commission)

Brilliant, a perfect example of how much easier trading can be “if” you wait and “only” trade when the picture is clear.....

Thanks, Steve
PS: The only slight question mark was as the TS3 sell came in. But this is when I suggest looking at other “correlated” markets. In particular, the 15min trend on the ES, YM and TF were all strongly up at this stage, so combining this with a strong STF on the 5min NQ and holding and looking to run the currnet TS1 long into the anticipated Typical Wave 3 WPT was best.

Only trade when you have a clear Pattern


Hi Everybody

Yesterday was a perfect example of how easier trading can be, when you wait for a “clear and obvious” setup. Many amateur traders fall down because they want to trade every day, in other words, they tray and “force” trades when the picture is unclear. This leads to confusion and losses. I have always said that it is much better having the patience and discipline to wait and then only trade the “clearest and most obvious” setups. And yesterday was a brilliant example of this

First the 15min trend was nice and clear on this 15min Chart because we had just started to rally off 15minm DP support. Therefore the trend was not clearly up.

So the old phase “when in doubt stay out” is very good advice, and a lesson most amateur traders could learn from. Trade less and only trade when the picture is clear, that is what professional traders do...

Thanks, Steve

Wednesday 20 January 2010

3min FTSE short


Hi Everybody,

A nice TS3 sell this morning on the 3min FTSE that netted +3.2R Profit (ignoring slippage and commission).

Nice to see the European traders among you getting in on the act as well :)

Thanks

Steve

15min Trend up, so looking for Buys


OK, now we know that the 15min trend was up we should have been looking for buy setups, and that is exactly what we got on the 3min YM chart.

The YM then rallied nicely to reach the first projected profit target later in the day. Profit was taken here as the STF was weak, as per the standard trade management guidelines. The result was a very nice +6.4R Profit (ignoring slippage and commission)

A beautiful example of a standard and automatic MTPredictor trade :)

Steve

Larger degree trend on the 15min Chart


Hi Everybody,

As usual, let’s start by looking at the larger degree trend on the 15min chart. As you can see, the 15min YM was clearly up throughout yesterday so we should have been on the lookout for long trades.......

So now let’s move down to the 3 and 5min Charts to see what setups there were

Steve

Tuesday 19 January 2010

The end result


WOW, what a brilliant trade....................... as you can see, the DAX c9ontinued to rally strongly. Trade management was using the ATRStop, which resulted in a massive +8.4R Profit (ignoring slippage and commission)

A brilliant example of what is possible with the tools in MTPredictor :)

Steve

The trade entry


OK, now we have seen how the 15min FTSE was making a low at 15min DP support, so where was the trade entry.

Well, just lok at the 3min DAX chart, where you can see how the Dax was making a high vol (VSA) bar right at DP support. This combined with the “larger degree” support on the 15min FTSE gave the perfect long trade entry.
Amazing !

Thanks

Steve

FTSE – follow up


And here the amazing part, just look what the FTSE has done since my last post earlier this morning ............

See how the DP nailed the low perfectly ! and the FTSE has rallied strongly since............ This is the power of MTPredictor :)

Thanks

Steve

15min DP sell on the FTSE


It was the Martin Luther King holiday in the USA yesterday, so US markets were quiet, so let’s take a look at what has been happening in Europe. For example, a lovely DP sell on a 15min FTSE Chart

Notice how there was a -1R loss first, but this loss was kept small and under control. Then the second triangle was invalidate before it was filled, so no trade, then the DP sell that nailed the very bar of the high.

We have dropped straight through the initial DP target and are now at the lower DP target where +7.8R Profit (ignoring slippage and commission) is currently available.

Thanks, Steve

Monday 18 January 2010

TS2 sell on the 3min YM


There was also a brilliant standard TS2 sell on the 3min as the decline unfolded. Using the Standard trade management guidelines, this would have made approx. +4.4R Profit (ignoring slippage and commission)

What a brilliant day on Friday, and I just wonder how many of you were ready for this and as such made the most of it. I know how many amateur traders have a bad day then get all fed up and then miss great days like this. Trading is a professional business, and you must approach each and every day like a professional. There are some massive profits to be made, it is up to you whether you are willing to do the work and take the time to learn how to capture them. Or do you just want to mess around and then complain when other (more professional traders) do better than you.

It is simple – the choice is yours, do you want to learn how to trade like a professional, or just complain that others are more committed than you......

Thanks, Steve

DP sell on the 3min NQ


OK, now we know that the larger degree trend was down in the morning, you should have been on the lookout for selling opportunities, and the best on of the day came immediately after the open on the 3min NQ. For those of you who read this Blog regularly will know that one Advanced setup is to look for a “failed” move off the open into DP support / resistance. So with the larger degree trend down, a sharp move off just after the open into DP resistance on the 3mion NQ was the perfect sell setup.

This has you short form the high of the day as the markets collapsed. Using the ATRStop would have held the short trade for a massive +10R Profit (ignoring slippage and commission).

What a brilliant trade ! Now do you see why I was trying t prep you all in Fridays post, because I knew that we were due for a brilliant day, because the prior few days had been hard. This is a brilliant example of the Cyclical Nature of Trading at work !

Thanks, Steve

What an amazing day !!


Hi Everybody,

This is exactly why I talked so much about the Cyclical Nature of Trading, on Friday, after such a hard day on Thursday. I was trying to tell you that a good day was overdue and guess what ? That is exactly what we got on Friday !!

First lets set the scene with the larger degree 15min trend. As you can see, the 15min YM had an automatic DP sell, so the decline on Friday should have come as no surprise to any of you.

Then, the decline continued to reach the level of a prior important low. So after such a sharp fall, and the 15min chart staring to rally off this level, the 15min trend changed to up in the afternoon.

So we had a down trend in the morning (sells), then an uptrend on the afternoon (buys), so let’s now turn to the 3 and 5mn Charts to see what we had....

Thanks, Steve

Friday 15 January 2010

Cyclical Nature of Trading


Hi everybody,

Yesterday was a really horrible day on the US e-minis with just short and choppy swings all day. Days like this are impossible to trade.... But days like this do unfold, so we must accept that sometimes trading can be very hard.

This is just all part of the Cyclical Nature of Trading, where the good times, bad times and hard times all go round in cycles. We are just now in the hard part of the cycle. But what this does mean is that son we will get some good trades come round.

Most amateur traders give up in this part of the cycle, and therefore then miss out when the good times come round. So knowing about, and accepting how markets unfold in the “real world” is vital for long term success in this industry...

Thanks, Steve

Thursday 14 January 2010

Up trend on 3min YM


If you found it hard to see the uptrend yesterday, just take a look at the 3min YM, which unfolded in a “classic impulsive” pattern, of a 5-wave rally, followed by a simple ABC correction, which was followed by another 5-wave rally. This was a classis impulsive pattern to the upside.

This is why I always keep an eye on other markets, even if the trade is not on them, to help give you added confidence

Thanks, Steve

3min ES


OK, now we have set the trend as up yesterday let’s take a look at the 3min chart to see what longs there were.

As you can see, we did get one long trade that rallied nicely into the first profit target (that nailed the high of the day), for a nice +2.1R Profit (ignoring slippage and commission).

Thanks, Steve

15min trend


Hi Everybody,

As usual, let’s start with the 15min trend..... As you can see, the 15min ES was rallying up off the Typical Wave 5 WPT, so longs were the trades to consider yesterday...

Thanks, Steve

Wednesday 13 January 2010

YM yesterday Part 3


OK, now we now that the YM has made a good low around midday, we should be on the lookout for ABC lows off which to take a long trade.

Although there were no automatic buy setups, there was a very good looking ABC low later in the day that was automatically found by the Elliott Wave module. The YM made a good rally off this Wave C into the close for a nice +3.4R Profit (ignoring slippage and commission)

Thanks, Steve

YM yesterday Part 2


If you look at the attached chart, can you all see how we had a low on the YM that not only unfolded at DP support, but was also a 5-wave decline that made the low at the minimum Wave 5 WPT..... And all of this on a high volume (VSA) spike.

This was a good pattern, and one that set the trend to up for the rest of the day...............

Thanks, Steve

YM yesterday


Hi Everybody,

Yesterday was another tricky day, especially in the morning, were we had a -1R loss on the 3min YM.......... Losses can and do happen. It is important to show losing trades, so you all understand how to keep these small. There are too many trading companies that never talk about losses. Here at MTPredictor we are different, we understand how the markets really work, and that losing trades are part of day to day trading. The trick is keeping them small.

But things got a lot clearer later in the day after the low was made around midday, see next post....

Thanks, Steve

Tuesday 12 January 2010

3min FTSE – Advanced Trade Management


Hi Everybody,I am often asked about trade management, so I thought I would take a look at the current TS3 sell on the FTSE.

Standard Traders would have managed with the ATRStop, as the STF was strong, and as such ended up with a very nice +9R Profit (ignoring slippage and commission), which is a HUGE Profit and one any trader should have been happy with...........

But as an Advanced Trader, I always keep an eye on the “pattern” of any swing, and here the decline unfolded as a “minor” 5 wave decline. All of you who have read and studied the Trading Course will know that the 5th swing in an Elliott Wave Pattern is usually the last swing. So with this in mind, protecting a massive +13R Profit (ignoring slippage and commission) would have been a good idea...

What a brilliant day for the European traders

Steve

Dax this morning Part 2


Then we had a -1R loss as a good looking TS4 sell came in. There was only 1 loss here even though there were two history triangles as the second was a “double top”.

The next TS4 sell then nailed the high perfectly, just before a sharp decline came in................. This short trade is currently on a very nice +9R Profit (ignoring slippage and commission)

Thanks, Steve

Dax this morning

I though you would all like to see how a Professional Trader looked at the 3min DAX this morning ?

The day started with a nice 5-wave decline, with the low unfolding at a high volume (VSA) bar at the minimum Wave 5 WPT. The trade here was into the DP (from the prior Wave 4 high).

The result was a nice +2.4R Profit approx. (ignoring slippage and commission) as a good looking TS4 sell came in
Thanks, Steve

NQ – 3min Long


If you were a standard trader and just looking for long trades yesterday then there was also a nice good looking TS3 buy on the 3min NQ that resulted in a +2.9R Profit on the close (ignoring slippage and commission)

Thanks

Steve

3min ES for the Advanced Traders...


Carrying on from the last post, ironically the clearest “ABC” patterns were in the two sells that were against the larger degree trend yesterday....

This is where the more Advanced Traders could have considered these short trade, BUT (and I always say this), if you are unsure of the trend, or you are against the larger degree trend, you must always protect yourself quicker by using the 100% initial risk guideline.

This would have resulted in a break-even, then a +2.4R Profit (ignoring slippage and commission) for the more Advanced Traders among you yesterday......

Thanks, Steve

3min ES longs Part 2


Over the past few days I have been talking about only trading the “most obvious” and “cleanest” setups. The long trades yesterday were a good example of this. Particularly the way there was no obvious and clear minor abc in the two trades early in the day.

Compare these to the DP buy, where we had the added confirmation of a very clear high volume (VSA) spike as well as the clear swings going into the low.

This made the DP buy the best and “most obvious” long trade yesterday....

Thanks, Steve

3min ES longs


OK, now we know that the trend was up let’s take a look at the buys on the 3min ES.

The day did not start well with 2 -1R losses. As all professional traders know, losses can and do happen, but the trick is keeping them small.

Then we got a lovely (more on this later) DP buy that nailed the low of the day. With the STF strong, standard traders would have swapped to the ATRStop, which help the long trade into the close for a nice +3R Profit (ignoring slippage and commission)

But do you all see the important point here, even with two losses you make money overall, because the losses were kept small at just -1R each and the profit was much larger than this at +3R. This is the trick to successful trading – keeping the losses small and Profits larger, and that is what MTPredictor does for you :)

Thanks, Steve

Larger degree trend


After a few easier days at the end of last week, the Cyclical Nature of Trading is beginning to push round to the harder part of the cycle, and that was evident in the larger degree trend yesterday, which was not as clear as I would have liked. This does happen and is something we must all be aware of.....

For me, the biases was to the upside yesterday, so longs were to order of the day for the Standard Traders among you.

So with that in mind, let’s move onto the 3min ES chart in the next post

Thanks, Steve

Monday 11 January 2010

A brilliant start in Europe


Hi Everybody,

After the great end to the week last week in the USA (on the e-minis), Europe has continued the great run with a brilliant TS3 long trade that made a very nice +5R this morning on the 3min Dax (ignoring slippage and commission).

What a great start to the week :)

Thanks, Steve

3min TF


Then we had a nice ABC decline for a automatic TS3 buy that unfolded later in the day on the 3min Russell Index

Again, a standard trade, that was managed using the standard trade management guidelines, this time for a nice +4.4R Profit on the close (ignoring slippage and commission).

So, all in all, a good end to the week :)

Thanks, Steve

3min YM


Hi Everybody.

Well, in my last post I did say that we were now in the “good part” of the cycle in the Cyclical Nature of Trading, so another good day on Friday should have come as no surprise. We all have to remember about the Cyclical Nature of Trading, where Profits , losses and the quiet times all go in cycles, so the trick is keeping the losses small in the bad time so you are ready to maximise your profits in the good times, and this is where we are now.....

Both the YJ and Russell Index had good days, so let’s start with the YM

A standard trade, that was managed using the standard trade management guidelines for a nice +2.3R Profit (ignoring slippage and commission). There uis little else I can add, as the charts says it all

Thanks, Steve

Friday 8 January 2010

Now to the 3min Chart for the trades


OK, now we know that the larger degree trend was up, lets move down to the 3min Chart.

Here we have two buys and one sell yesterday. As the trend was clear up, the Standard Traders among you would have focused on the two buys.

The first of these would have been break-even, but the second was the best trade, with a Profit of approx +5R on the Close (ignoring slippage and commission).

This char is worth a few more comments for the more experienced traders among you, in that the second (TS3) buy was a lot “clearer” with nice clean swings than the TS1 earlier. You have heard be talk before about only trading when the “pattern is clear” and this is a good example, and why I (personally) would have preferred just the TS3 buy as it had a clearer pattern.

Thanks, Steve

Larger degree trend on 15min Chart


Hi Everybody,

We all know about the Cyclical Nature of Trading by now, and it is nice to see that after a hard and tricky period, we are back in the good times with another good day, particularly on the NQ yesterday....

But lets start with the 15min NQ chart, for the larger degree trend. And this was a lot easier yesterday with a TS4 low catching the low, and as such seting the trend to be up for the rest of the day.

I like it when patterns are nice clear, clean and obvious.

Thanks, Steve