Now, onto the 3min Chart

As I said in the post below, initially a confusing picture with what looked like a lot of losing trades, until you took the larger degree, 15min, trend into account, and then all these losing trades should then have been avoided............... nice :-)

This left us with just one short, which was off the high of the day, that was held into the close for a nice +3.4R Profit (ignoring slippage and commission)

But do you all see how import staying “in the same direction as the larger degree trend” is, particularly on days like yesterday, where most of the losing trades could have then been avoided......

Thanks, Steve

As usual – 15min trend first

Hi Everybody,

On the surface, yesterday was a confusing day on the 3 and 5min US e-minis, “until” you took into account the larger degree trend using the 15min chart, then everything because clearer.

As you can see, the 15min YM started by rallying off DP support – so the 15 trend was up (just buys on 3min charts), then along came a TS2 sell so the 15min trend now turned down (just sells now).

So with this in mind, lets now turn to the 3min YM chart to see what unfolded, but more importantly, what trades should have been avoided as they were against the Up, then down 15min trend.

Thanks, Steve

Another massive trade for Advanced Traders

Hi Everybody,

While we are on the topic of Advanced Traders and what they can do with the software. Here is a brilliant example on the 5min DAX from this morning. On the 5min Chart, Stochastic divergence was coming in at DP resistance, this was the sign that a high was unfolding, so a short trade was in order.

The Dax then collapsed, declining straight through the initial target, and is now the ATR Stop is protecting a massive +22R Profit (ignoring slippage and commission).

Another brilliant example of what is possible once you gain the experience to use the tools in MTPredictor to their full potential !

Thanks, Steve

Part 2 for the Advanced Traders - Pyramiding

OK, as we say in the last post the Advanced Traders could have used a “manual” Elliott Wave count to hep their analysis, but was anything else possible ?

Well, I have talked about pyramiding a week or so ago, but yesterday was another opportunity, as the EW pattern as so clean to add additional short positions as the Wave [2] ABC high was ending. Remember if you are considering pyramiding then stops on all current open positions should be at break-even, so you don’t increase your initial risk.

This would have added +3.5R Profit (ignoring slippage and commission) making this a + 7.5R day on the NQ

I hope you are all starting to see how powerful MTPredictor is once you have taken the time to learn the more advanced capabilities of the software...........

Thanks, Steve

Part 1 for the Advanced Traders

OK, the Advanced Traders among you could have spotted that the decline had reached the Typical Wave 3 WPT (placed on the chart manually, using the manual Elliot Wave count), as such decided to lock in a nice +4R Profit (ignoring slippage and commission) as the day was nearing an end....

If you look at the next post (3min) you will see why I was confident in this “manual” Elliott Wave count.

This just shows what is possible with the more advanced tools that are available in the software – short from the high of the day to lock in Profits at the low of the day – amazing !!

Thanks, Steve

Don’t forget the 5min Charts !

I have said this before, but I will say it again – don’t forget the 5min Charts. Here we had a lovely automatic sell on a 5min NQ charts that nailed the high of the day !

The NQ declined nicely, going through the first projected profit target, where shortly after the STF strength band was exceeded. Standard Traders then used the ATRStop for a very nice +2.8R (ignoring slippage and commisison) Profit.

Thanks, Steve

15min NQ – Larger degree trend

Hi Everybody,

OK, as usual, let’s start with the larger degree trend, and take a look at the 15min NQ chart. Here then 15min NQ made a high right at the typical Wave 3 WPT, as found by the “Elliott Waves module”. This set the trend to down for the rest of the day...

OK, onto the shorter 3 and 5 min charts

Thanks, Steve