5min ES

OK, now lets move over to the 5min Chart. As the STF was red, we should have been looking for just sell setups, and we got three of these later in the day. The first of these was “at the same time” as the -1R loss on the 3min Chart, so should not be counted here, on the 5min Chart. We then had a valid -1R loss just before the TS4 sell nailed the high perfectly.

The ES then declined into the close, where a nice +4.1R Profit (ignoring slippage and commission) was available.

So -1R plus +4.1R makes a nice +3.1R Profit for the day. But as we have seen, this came from the 5min chart, when the 3min signals were flat

Thanks, Steve

PS, please take a look at the Advance Blog for why this last TS4 sell was a “high confidence” trade.

3min ES

Hi Everybody,

Yesterday was an interesting day, that started off with a -1R loss on the 3min ES just after the open. Then we had a nice TS2 sell, that made +2.1R Profit (ignoring slippage and commission). But then we had a TS3 sell later in the day that would have lost -1R.

So overall, the 3min ES was flat on the day........................

But, this is why I always say that you should also follow the 5min Charts, because, as we will see in the next post, that is where the money was made yesterday.

Thanks, Steve