Break-even trade

If you all remember last week I talked about using the DP from the minor minor Wave 4 swings as an “initial target” off the end of a Wave 5 Swing. Well, the same applies from the end of a Wave C from the minor Wave B swing. As we can see on the 3mon NQ yesterday, this nailed the low before the NQ reversed. So how can this be used ?

In this example, as you were short from the prior TS3 sell, you could have used this DP to lower your protective stop to at least break-even once the DP level was reached. AS you can see, this helped avoid what would otherwise have been a losing trade.

Again, all these techniques are in the Trading Course for you to study in your own time.

Thanks, Steve

Another quiet day

Hi Everybody,

As I suggested in yesterdays post, yesterday was another quiet day, with few trades, this is just all part of the Natural Cyclical Nature of Trading. Having said that, there was a nice TS4 buy setup late in the day on the 3min ES. As you can see, this nailed the low, just before a nice rally into the close.

The result was a +2R Profit (ignoring slippage and commission).

So even though it was a quiet day, the 3min ES ended up with a nice profit.

Thanks, Steve