YM – 15min Chart

Hi Everybody,

Today I would like to start with the larger degree trend on the YM, so that means the 15min Chart

As you can see the larger degree trend was UP, into the DP when a high was made, but the important thing was “after” the YM started to decline from this 15min DP the trend had turned down, so this meant being careful about buys on the shorter 3 and 5min Charts in the afternoon yesterday.

OK, let move down to the shorter 3min charts.......

Thanks

Steve

FOREX – GBP 60min loss

Hi Everybody

Loses – Yes they do unfold and yes all traders experience them................. Please see the same GBPUSD – 60min Chart, just before the nice +3.9R Profit there was a -1R loss. So yes, it is so important to understand that losses can and do happen. The trick is keeping them small. -1R is smaller than the profit of +3.9R. If you keep your losses small and profits large, then you are building the foundation for a successful trading approach.

But again, I cannot stress enough that losses can and will unfold, no matter what trading approach you us. It is your job as a professional trader to keep them small when they unfold.

Thanks

Steve

FOREX – GBP 60min

Hi Everybody

If you remember a few days ago I took a look at a TS4 sell that was stopped out at break-even on the GBPUSD 60min chart. Well, the GBP continued to rally to new highs, but ran into the DP resistance zone where a high unfolded. The GBP then declined into the “opposing” DP where a nice profit of approx +3.9R was available.

Yes this is an Advanced trade as it used the manual DP, but it does show how well the DP can work in the FOREX markets

Thanks

Steve

15min YM

Hi Everybody,

Yesterday the 15min YM gave a perfect example of how to use a 5-wave Elliott Wave count, which was good timing as this is exactly what I was looking at in the Blog yesterday and is what I will be looking at in my customer training later today.

For those of you who know Elliott Wave, you will already know that one place you can find a 5-wave count is in the “minor pattern” of a Wave C swing. Well, if you look at the chart, this is exactly what allowed us to nail the high on the 15min YM Yesterday. As such, this would have allowed you to anticipated yesterday’s sharp fall............

As I keep on saying, there is so much that you can do, for those of you who take the time and make the effort to learn and study. It is a sad fact that there are still far too many people who are too lazy, but then these people will never be able to nail turns like this.......

Thanks, Steve

VSA – High Volume Spikes

Hi Everybody

I just wanted to remind you that MTPredictor is not just automatic setups based on the TS1,2,3 and 4 routines. For those of you who study the Trading Course will know that we teach other setups, for example a very nice High Volume Spike (VSA) setup that when combined with a reversal at DP support or resistance can highlight very nice trades for you.

A great example has just unfolded on the 3min DAX, as you can see this nailed the high perfectly, before a sharp fall right into the lower DP support zone where +3.9R Profit was available (ignoring slippage and commission).

As you can see, for the experienced and Advanced Trader, MTPredictor has to tools to identify some very nice tradable opportunities.......

Thanks, Steve

Elliott Wave - my Isolation Approach

Hi Everybody,

In my Advanced Customer Training webinar tomorrow I will be talking about some of the other Elliott Wave patterns we look at in MTPredictor. In particular the Wave 5. Please remember that the way I do Elliott wave (my unique isolation approach) is unique and different to the more traditional Elliott Wave analysis as taught by the standard books. So I will take a look at the difference and why I developed and use Elliott Wave in the way that I do.

A good example has recently unfolded on a UK share – BP, where the Wave 5 high unfolded right at the Typical Wave 5 WPT, which was followed by a decline into the DP from the prior wave 4. Which is exactly as taught in the MTPredictor Trading Course

Thanks

Steve

ES – 3min DP

Hi Everybody,

The US e-minis started well yesterday with a nice DP buy shortly after the open on the 3min ES. This nailed the low of the day for you. The ES then rallied nicely. As the STF strength band was exceed we swap to the ATRStop for trade management. This held the long trade for a nice +4R Profit (ignoring slippage and commission).

After that, the markets went flat so the rest of the day was tricky and hard work. But we all know by know that markets can do this, so we should not worry about tricky times as we know they will usually not last long before some good trades come round again.

Thanks

Steve