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