+3.4R Profit on the 3min DAX

Hi Everybody,

Here is a nice standard trade setup on the 3min Dax this morning that (using the standard trade management guidelines) made a nice +3.4R Profit (ignoring slippage and commission)

Notice how profit was taken at the first profit target as the STF was weak...

Thanks, Steve

3min ES – DP nails high of day !

This is why I always keep an eye on “all 4” of the e-minis because very often the pattern can be slightly clearer on another market.

This is a good example, because when the 3min YM invalidated because of a new high, the 3min ES was right at DP sell for a very clear and clean “manual” DP sell.................. This nailed the high of the day for you.

The ES declined nicely. As the STF was strong, the ATRStop would have been used for a nice +2.3R Profit (ignoring slippage and commission)

Thanks, Steve

3min YM

OK, now let’s move down to the 3min YM.............

Where we had a -1R loss early in the day, then the second trade of the day (at 13:57 EST) was invalidated as the high was exceeded the new bar (so a new setups) “before” the trade entry was triggered......

Note for Advanced trader: the sell was still valid as it was still an ABC high, it was only the R/R (because of the wider bar) that removed the automatic setup. So Advanced traders could still have considered a short...... Less experienced traders could have looked at the 3min ES (next post) as the pattern was clearer....

Thanks, Steve

Larger degree trend

Hi Everybody,

Yesterday was tricky on the larger degree tend on the 4 US e-minis, with 3 of them not having any clear pattern, other than being up. The 15min YM, however, was at DP resistance.

Because the YM was the clearest pattern, I would have focused on the YM yesterday for 3min shorts.

But what we all have to realize is that there will be days when the pattern is unclear. When this happens either don’t trade or if you do, be more cautious....

Thanks

Steve