A Brilliant start in Europe

Hi Everybody,

The European Traders have had a brilliant start to the new decade with this TS3 buy on the 3mion FTSE.

We have just reached the first projected profit target (+7.2R Profit), but as the STF is strong Standard Traders would have swapped to using the ATRStop for trade management.

With the profit at over +7R (Ignoring slippage and commission), this is a brilliant trade, and a great start to the new year :)

Thanks, Steve

Now for the Advanced stuff

OK, the post below, looked at using the Standard Trade Management guidelines. But what if you are an Advanced Trader ?

Well, the Advanced traders among you will have used the Elliott Waves nodule and spotted that the low of the day was at the Typical Wave 3 WPT, using the Major degree. Knowing this, you would have wanted to lock in the +6R Profit (ignoring slippage and commission) at this level.

This shows how powerful the tools are that come with MTPredictor, nailing the low of the day like this was amazing :)

Thanks, Steve

15min YM Chart

Hi Everybody,

I know most of the time, we only look at the 15min Chart for the “trend direction” and then trade on the 3 and 5min Charts. But when the volume is low, for example over Christmas, we can get some very nice trades on the 15min Charts themselves.

For example, this lovely ABC correction on the 15min YM Chart for a TS4 sell.

Using the Standard Trade Management Guidelines, meant swapping to the ATRStop as the STF Strength band was exceeded as the first target was met. So this trade is still open and currently sitting on a nice +4.9R Profit (ignoring slippage and commission)....

Thanks, Steve

Happy New Year,

Hi Everybody,

I hope you all had a good rest over the Christmas and New Year holidays, and as such are all well rested and ready to get back to what the markets will give us this year ?

So with that in mind, let’s get back and take a look at the markets....

Thanks

Steve