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

YM getting in on the act

The NQ was not the only market giving some nice short trade profits yesterday.

The 3min YM also had a nice short trade, into the low of the day for a nice +3.7R Profit (ignoring slippage and commission)

Thanks

Steve

3min NQ trades

OK, now we know that the trend was down into early afternoon, we can see that there were three sells on the 3min NQ, Two losses and one a Profit. But this is where Position Sizing comes in. Even with more losses than Profit, you come out on top overall. This is why I keep on saying why it is so important to keep your losses small and Profits large.

This is the real key to successful trading – small losses and large Profits

Thanks

Steve

Tricky larger degree trend...

Hi Everybody,

As we all know, sometimes the pattern is not as obvious or clear as we all would like, and yesterday was a day like that. The larger degree trend was down until early afternoon when the NQ and TF (Russell Index) made lows at Wave 3 WPT levels. This then turned the larger degree trend to up for the rest of the day...........

Thanks

Steve