5min charts.......... again.

Hi Everybody,

Again, yesterday was a good example of why I say to keep an eye on the 5min Charts as well as the 3min ones, as the best trades yesterday were on the 5min charts.

For the Standard Traders among you, the 5min NQ was the one to consider as the TS3 buy came in on a blue/black STF. The NQ then rallied nicely into the first project profit target, where a nice +3R Profit (ignoring slippage and commission) was available. (eSignal data in MTP v6.5)

But the markets did continue higher later in the day, so was there a way to take advantage of this ? Yes, and that is what I will look at in the Advanced Blog.

Thanks, Steve

TS3 long on the 3min NQ

Hi Everybody,

The day ended well yesterday with a nice TS4 buy setups that unfolded on the 3min NQ (eSignal data on MTP v6.5). This was a completely standard setup with the TS4 buy coming when the STF was black. The trade then rallied into the first projected Profit target for a nice +3.2R Profit (ignoring slippage and commission).

I do have to remind people that because data can be different using different data sources that different Traders can and will get different setups. This is the same for “any” trading system, it just a fact of Trading life, and there is nothing we can do about it as Traders. Therefore, it is no good trying to compare your results with a friend, it is best to focus on your own trades. Few amateurs realize or fully appreciate how different data can be, and find it surprising that it is different, but it is.

Thanks, Steve

Nice TS4 sell makes +5R Profit.

Hi Everybody,

It was another good day on the US e-minis yesterday, with a lovely TS4 sell in the afternoon yesterday on the 3min YM that gave us a very nice Profit.

As you can see from the chart, there were a few invalid setups in the morning (against STF) and then a -1R loss before a small +1.5R Profit on the way up this TS4 sell. Please note: different data feeds are different so not all data feeds will give exactly the same signals.....

This TS4 sell was a completely standard setups as the STF was black at the time. When the YM reached the Profit target is was so near the end of the day, simply banking the +5.4R Profit would have been a good idea. This would have still been a nice +4.9R profit if held into the close.

So overall, it was a very good day yesterday on the 3min YM for MTPredictor yesterday.....

Thanks, Steve

DP sell nails the high of the day !

As an Advanced Trader, I always like to look at Advanced trades as well, because that is where the true power of the software is and to be honest I still find it amazing how good MTPredictor can be at times, so wouldn’t it have been nice to be able to catch the high of the day as well !

Well, as you can see, we did have a DP sell at the high of the day. What I like about this was that although the STF was red it was on stochastic divergence and also on a high volume (VSA) bar. The only thing that I also look for is “larger degree support or resistance”, so let’s take a look in the Advanced Blog for this.

As you can see, the YM decline nicely off this high for a possible +5.7R Profit (ignoring slippage and commission) as the TS4 buy came in......

So here we are with MTPredictor nailing both the high and low of the day for you – now I find that absolutely amazing !!

Thanks, Steve

TS4 buy nails the low of the day !

Hi Everybody.

What an amazing day on the YM yesterday !!

I will start by looking at the TS4 buy setups, as that was completely standard, as it was on a blue STF. The only question was when the TS2 sell arrive a little while later, but as the STF was still blue at this time, this should have been ignored. As such, the TS4 long should have been held into the close for a very nice +3.8R Profit (ignoring slippage and commission).....

Plus (for the Advanced users among you), this TS4 buy was also on a lovely high volume (VSA) spike as well ................

What a lovely trade...........

Thanks, Steve

A good start for the European Traders...

Hi Everybody,

The European Traders among you had a very good start to the week, with a very nice TS3 buy setup on the 3min Dax just this morning.....

As you can see, this was a completely standard TS3 buy setup as it was on a blue STF. Profit were taken at the first target as the STF was weak, all for a very good +5.9R Profit (ignoring slippage and commission.

What a great start to the week !

Thanks, Steve

Don’t forget the 5min Charts

Hi Everybody,

I have mentioned this before, but please do not forget the 5min Charts, as they very often have some lovely setups. Here is a great example from Friday on the 5min NQ chart, where a TS4 sell gave us a very nice +3.3R Profit (ignoring slippage and commission).

As you can see, the first projected profits target nailed the very low of the day, so was the perfect place to look to bank profits.

It is all too easy to look for shorter and shorter time frames and forget that that slightly longer (5min) charts very often give us smoother swings and as such very nice setups.

Thanks, Steve