Larger degree trend

Hi Everybody,

I am often asked when MTPredictor users can go “against” the STF tend. Well, the answer is when you are at “larger degree” support or resistance.

http://www.youtube.com/watch?v=rz0X--Xuhjc

Here is a great example of a 5min DP sell on the 6B (GBP/USD) that also fell at 15min DP support……………… The result was a nice +8R Profit (ignoring slippage and commission)

Thanks, Steve

15min analysis on the ES

Hi Everybody,

As we teach in the MTPredictor training webinars, it is always a good idea to keep an eye on the 15min charts, when trading 3 and 5min Charts. As you can see from this screen shot, the high of the day on the ES yesterday was right at the typical Wave 3 WPT on the 15min chart!

Even if you do not trade off the 15min chart, knowing the “larger degree” support and resistance areas will help you position yourself correctly on the “shorter term”, 3 and 5min charts.

Thanks, Steve