+7R Profit on the 3min Dax

But now compare the ES trade (post below) to a TS3 buy on the 3min DAX at the same time............

Here the DAX rallied nicely to reach the first profited profit target, where standard traders would have banked a nice +7R Profit (ignoring slippage and commission).

This just goes to show why it is a good idea to follow more than just one market, and how the same set, at the same time, on deferent markets can work out very differently

Thanks, Steve

3min ES

Hi Everybody,

Sometimes days can just be hard work and frustrating. For example, if you look at this 3min ES chart, you can see that we got a TS3 buy at 11.42EST. But the ES just went sideways for the rest of the day, and this trade would have been ultimately closed on the close for a +2.2R Profit (ignoring slippage and commission).

Yes this was a profit, but it was certainly a frustrating trade.................. But as professional traders, we have to accept that sometime trading can be hard work. This is just life !

BTW, the reason the TS3 is shown as a “history triangle” is that the ES made a “double bottom” a few bars later, so the pivot moved over ......... But the long trade was never stopped out.

Thanks, Steve

Onto the 3min Chart

OK, now we know that we should have been focusing on the buy setups, let’s take a look at the 3min Russell Index (TF)...........

As you can see, we did get a nice TS4 buy around lunch time.....

Using the Standard trade management guidelines meant swapping to the ATRStop as the first profit target was reached (and the STF was strong). Yes, it was a bumpy ride, but the result was a nice +4R Profit (ignoring slippage and commission) on the close.

Thanks, Steve

Larger degree trend

Hi Everybody,

As usual, let’s look at the larger degree trend first.

On the 15min Russell (TF) this was up from the prior TS3 buy into its first profit target. So we should have been focusing on potential buy setups rather than sell

OK, over to the 3min Chart now

Thanks, Steve

Nails high and low of the day !

But for me, the most amazing chart yesterday was the 5min YM, where DP’s nailed both the high and low of the day for you !

I think that is amazing.................................

Thanks, Steve

3min NQ Chart

The clearest signal was on the 3min NQ, where we had a TS3 sell early in the afternoon. But first notice how the buy (triangle) earlier would have been avoided as the larger degree trend was down at the time, and then how the sell at the end of the day would have been avoided, as there were also against the larger degree up trend at the time.

So the best signal, that also fell in line with the larger degree trend was the TS3 sell.............

The NQ declined into the first profit target where +2R Profit was available (ignoring slippage and commission).

Thanks, Steve

Larger degree trend

Hi Everybody,

Looking at the 15min Charts of the 4 US e-minis yesterday, the clearest picture was on the 15min YM. Where we made a high right at DP resistance. Then a decline followed into the opposing DP, where a low unfolded.....

This set the trend nicely to down into the lower DO, then up into the close.

So now let’s take a look at a 3min Chart to see how the automatic setups “fitted in” with this larger degree trend picture...

Thanks, Steve