Wednesday 24 February 2010

DP and VSA nails ES low


For the more Advanced Traders among you................

Here you can see how the 3min ES made a perfect high volume (VSA) spike at DP support to nail the low of the day for you. The ES then made a 5-wave rally off the low, where a nice +1.7R Profit (ignoring slippage and commission) was available.

Add this Profit to the other good trades yesterday and even though it was a tricky day on the larger degree trend, carful use of Position Sizing and risk control would have kept the losses small and allowed you to bank some much larger profits overall.....

Thanks

Steve