DP sell nails the high of the day !

OK, now we have seen that we should be looking for sell setups and (just as important) avoid any buy setups, this DP sell on the 3min NQ was a good one to consider. As you can see, this nailed the very high of the day for you !!

The NQ declined into the first projected profit target where the STF was strong. So standard trade management swapped to the ATRStop. This ran the trade a little further, for a nice +3.6R Profit (ignoring slippage and commission)

As a PS here, if the ATRStop “swaps” side quickly and you are in a trade, then simply start to trail the stop 1 tick beyond the bars highs, this is what happened in this example.

So there we are, short from the high of the day for a nice +3.6R Profit (ignoring slip[page and commission), which is a good result, especially after having been quiet for the last few days. But then this is just the Cyclical Nature of Trading, and something I talk to you about regularly..

Thanks, Steve

As usual – larger degree trend first

Hi Everybody,

As usual, let’s look at the “larger degree trend” first to get the direction for the actual trade entries. As you can see, we had a TS2 sell on the 15min ES, we also had a TS3 sell on the 15min TF (not shown), so this set the trend to down.

As usual, we now move down to the shorter, 3 and 5min charts for the actual trade entries

Thanks

Steve

DP low on 15min NQ

Hi Everybody,

As I suggested last week, we are now in the hard / quiet part of the cycle (Cyclical Nature of Trading), so it is not surprising that things are quiet at the moment. BUT, as we have seen so many times before, it is not that we know that soon we will come back into the good (and profitable) part of the cycle when we will get a string of good and profitable trades. So it is now that all professional traders get more alert to setups, and amateur get bored. This is the difference between professional who understand that trades go in “cycles” and amateurs who have no understanding of how markets unfold in the “real world”

Notice how the 15min trend was down into the DP buy on the 15min NQ chart which then turned the larger degree trend up later in the day on Friday.

Thanks

Steve

3min DAX

Hi Everybody............

The European traders among you are having a good run at the moment, with another nice TS3 trade on the 3min chart.

As you can see, the DAX declined into the first projected profit target where a nice +4.5R Profit (ignoring slippage and commission) was available.....

Thanks

Steve

15min ES Chart

Hi Everybody............

Well, I did say that the ES had made a high at DP resistance and the 15min trend was now down, so yesterday’s sharp decline should have come as no surprise to anybody :)

This is the power of MTPredictor.............

Thanks

Steve

3min ES for the trades

OK, now we know that the larger degree, 15min, trend was down yesterday, I hope you can all see that the best opportunity on the 3min ES yesterday was the TS2 sell later morning. As you can see, this got you short before the ES declined into the low of day.

The result was a nice +2.8R Profit (ignoring slippage and commission) as the ES reached the first projected profit target....

But, and this is the most important part, this profit was 2.8x larger than the -1R loss from yesterday, so even though we are in the hard part of the cycle at the moment the Profits are still larger than the loses. This the key to long term trading success, keeping your losses small and your profits large....

Thanks, Steve

Larger degree trend....

Hi Everybody

OK, as we saw yesterday the 15min ES was at DP resistance, that mean that you should have been on the lookout for sell setups.

With this in mind lets now move down to the 3min Chart...

Thanks, Steve