Larger degree trend – a question ?

One question I get asked a lot is how do we get “confirmation” from the larger degree trend when the 15min pattern has not “completed” when I get a 3 or 5min setup ? This is a good question, and does require a bit more analysis.

Fort this we have the “Elliott Wave” module in MTPredictor, where you can place the Elliott Wave on the chart. As you can see form the chart, this module also places the WPT levels on the chart for you. In this way you can see whether you are at WPT support or resistance “before” the 15min patterns completes. You can then make a decision on the 3 and 5min trade.

But I always suggest you come back to the 15min Charts to check that the pattern did indeed complete and as such have the extra confidence of the larger degree trend....

Thanks, Steve

DP sell nails the high of the day !

OK, now we know that sells where the trade to be looking for, you can see that we had a TS4 sell that resulted in a -1R loss. Yes losses can and do unfold. But this was then followed by a DP sell that nailed the high of the day !!

The YM then declined nicely, to reach the first projected profit target, where a nice +2.8R Profit (ignoring slippage and commission) was available.

Please remember, there are three stages to the way markets unfold (natural Cyclical Nature of Trading), the good part (when we get the big profits), the bad time (when losses come through), and a quiet time (when we get small profits and some losses). We are still in the quiet time at the moment. There are too many amateurs who expect big profits every day, this simple does not happen in the “real world”. For more into please see this PDF

http://www.mtpredictor.com/support/documents/How%20Profits%20and%20loses%20unfold%20in%20the%20real%20world.pdf

Again, MTPredictor is one of the few software companies that give you “real” education on how markets “really” unfold.....

Thanks, Steve

15min TS1 sell on the YM 15min

Hi Everybody,

As usual, the larger degree trend first. Yesterday we had a TS1 sell on the 15min YM, that set the trend to down, so sells should have been taken.

So now let’s take a look at the 3min Charts for any valid trade setups

Thanks, Steve