A good day on the e-minis, part 3

As profit was being taken on the 3min NQ short, a TS3 buy was coming in on the 5min Chart. The first one of these buys ended up as a -1R loss, but the second nailed the low perfectly. The NQ then rallied strongly for the rest of the day. The result was a nice +4.1R Profit (ignoring slippage and commission). So even after the -1R loss earlier, this mean +3R Profit overall. Yet again, a brilliant example of how small losses and big profits can make you money overall.

So overall it was a very good day on the US e-minis and is yet another example of how the good days will follow some harder days that unfolded midweek. This is just the natural cyclical nature of the markets and something all professional traders know and understand.

Thanks, Steve

A good day on the e-minis, part 2

As the ES was on the way down to its minor DP support zone, the 3min NQ gave a nice TS3 sell. Notice that the NQ made a “double top” a few bars later so this was not a -1R loss as the first short was never stopped out.

As you can see, the NQ then declined to reach the first project profit target, were profit was taken as the STF was weak, for a very nice +3.2R Profit (ignoring slippage and commission.

This was a completely standard setups and standard trade management.

Thanks, Steve

A good day on the e-minis

Hi Everybody,

Friday was a good day on the US e-minis with a number of good trades. Top start with let’s look at the ES.

The day started with the DP nailing the low of the day !! Although this would have been an Advanced Trade, it does show how powerful the tools are in the software. Then we had a TS3 sell. The ES only managed to decline into the DP from the prior Wave b low. But I have shown this support zone in prior posts. A nice +3.6R (ignoring slippage and commission) Profit was available at this level.

But, why would you want to take profits at this DP, after all it is only a “minor” support zone ? Well, as we will see, there was a lovely Automatic TS3 buy on the 5min NQ at this time which would have give extra “weight” to a low coming in. This is why I always say that it is a good idea to keep an eye on all 4 of the US e-minis

Thanks, Steve