High Volume (VSA) spike and DP support

Hi Everybody,

Shortly after the open yesterday the 3min YM made a high volume (VSA) spike that unfolded at DP support, this was the sign that a low was unfolding and cue to take a new long trade. The YM then rallied nicely to just exceed the first DP target. Normally I would suggest swapping to the ATRStop at this point, however, other markets were at DP resistance as well and showing signs of the high (see NQ chart in the next post), so locking in a nice +2.4R Profit (ignoring slippage and commission) was a good idea.

As such, this was a nice start to the day :)

Thanks, Steve

DP and High Volume (VSA)

Hi Everybody,

I would like to start today with a look at the 3min YM shortly after the open when a nice high volume (VSA) spike unfolded at DP support. This was sign that a low was unfolding and a long trade should be considered.

The YM then rallied nice and started to exceed the initial DP target. Usually I would suggest swapping to the ATRStop at this p9ont, but we had resistance coming in on other markets, see the NQ chart i my next post, so looking to lock in a quick +2.4R Profit (ignoring slippage and commission) was a good idea.

This was a nice start to the day :)

Thanks, Steve

FTSE – nails high and low of the day !

Hi Everybody,

First today I would like to wrap up the Analysis on the FTSE I posted yesterday. As you have already seen, we managed to nail the exact high of the day, as the markets declined after the Pre Budget Speech. But what I found absolutely amazing was where this decline stopped - right at DP support.

So here we were on a day where the markets were being pushed around by an adverse reaction to Alistair Darlings Pre Budget Speech, BUT MTPredictor nailed the EXACT high and low of the day – now, I find that amazing, and shows the power of the tools in MTPredictor !

Thanks, Steve

Massive +24R Profit !

Hi Everybody,

Here is the result of that TS3 sell on the 3min Dax, a massive +24R Profit (ignoring slippage and commission) !!

Absolutely amazing :)

Steve

Bad news for the FTSE - Good news for MTPredictor

Hi Everybody,

As you can see from the attached chart, all MTPredictor users knew exactly how the UK Pre Budget Speech would go down in the city - with a 5 wave high unfolding right at DP resistance, the only way was DOWN...........

As you can see, we nailed the high in the FTSE absolutely perfectly.............. A pity Alistair Darling does not have a copy of the MTPredictor software, then he would have known how badly the city would have reacted to his speach :)

We don't care though, because we nailed the high absolutely perfectly, so MTPredictor comes up trumps again :)

Steve

Massive +13R on the Dax

High Everybody,

A massive trade has just unfolded on the 3min Dax. The “initial target” was the DP from the prior low, which coincided with the typical Wave 3 WPT. As such, this was the perfect place to look for an "initial target".

With the market just reaching this area and sitting on +13R Profit (ignoring slippage and commission), this is turning out to be a brilliant trade................ And the DAX is still declining as I write :-)

Thanks, Steve

3min NQ TS2 sell

The Russell and ES also had sells at the same time as the YM, but I do not have space to include them all here. But one I would like to include was the TS2 sell on the 3min NQ that unfolded later in the day.

This gave you the chance to add another +4.3R Profit (ignoring slippage and commission) as the NQ made a nice decline into the close

So on the surface a confusing day yesterday, but once the larger degree trend was taken into account is was in reality a very profitable day.....

Thanks, Steve