3min YM – VSA buy nails the low !

OK, now let’s move onto the 3min YM chart, where a very good looking VSA buy was unfolding at 13:45EST. This nailed the very low of the day for us !!

The YM then moved higher nicely, until we reached a potential TS4 sell. OK, here you are, in a profitable long trade “and” the larger degree trend is UP, so should you swap this strong (with the trend) and profitable position to a new short weak (against the trend) position ? I think you should all know the answer by now – No.... This then held the long into the next DP target (just before the close) for a nice +3.6R Profit (ignoring slippage and commission).

Add this +7R to the +6R profit from the day before, and do you see now why I talk about the Cyclical Nature of Trading so much. These are the “good times” and have come after a few harder days last week. It is so important to understand how markets unfold. Days like these do not unfold every day, but they are there. Your job as a trader is to keep your capital intact during the harder times, so you are ready to make the most of days like these....

Thanks,

Steve

Larger degree tend – again ....

You should always keep an eye on the 15min charts “during the day” to see if support or resistance has changed, and here we can see how the 15min YM was making a TS3 buy early afternoon. This gave us confidence to lock in profits on the 3min NQ short as well as take the 3min YM VSA buy (next post) with confidence.

In this was we managed to nail the very low of the day yesterday. In fact this is the second day running that MTPredictor has managed to do this !!

Thanks,

Steve

3min NQ TS3 sell...

OK, now we had a hint that the larger degree trend was down, from the 15min Russell Index chart, we could take the 3min TS3 sell on the Russell Index with confidence.

The NQ then declined nicely, and reached the DP form the prior Wave b low. At this point caution was advised – why ? Well, as we will see in a minute the 3 YM was setting up for a very good looking VSA buy and the 15min YM was making a TS3 buy and the 154min TF was at DP support. So locking in a very nice +3.8R Profit (ignoring slippage and commission) at this stage was sensible

Thanks,

Steve

Larger degree trend....

Hi Everybody.

This is why I suggest that you should all follow all 4 of the US e-minis, as the 15min Russell Index put in a good high on the 15min charts early in the day yesterday, this set the trend to down. This then gave u confidence when any sell set-ups came along, for example on the 3min NQ.

Thanks

Steve

ES does the business, with over +6R Profit on the day!

The second trade was a DP buy, that nailed the very low of the day !

As the ES reached the first profit target, the STF was at the strength band, so we swap to the ATRStop. You will notice that the ATRStop dots swapped from blue (below the bars) to red (above) the bar as the market pushed high on a wide range bar at 3:15EST. If this happens then just trail your stop below the bar’s lows. The reason for quick ATRStop swap as because of the very wide range bar.

The result was a very nice +3.8R Profit (ignoring slippage and commission), making over +6R Profit for the day as a whole on the 3min ES.

What a brilliant day, and again a perfect example of the Cyclical Nature of Trading, and how the good times have come round again, exactly as I said they would a few days ago. I keep on going on about this, because it is how markets unfold in the real world, so you all need to be aware of this.

Thanks, Steve

ES does the business, with over +6R Profit on the day !

Hi Everybody,

This what I mean by the Cyclical Nature of Trading, after a few hard days, the 3min ES comes up trumps with two trades yesterday, both of which made profits for over +6R Profit overall............ Brilliant, and is why you must always have patience during the hard and quiet times, as the good trades will just be round the corner :-)

The first of these was a TS1 sell. With the STF weak, profit was taken at the first profit target (which was the low of the day !) for a very nice +2.5R Profit (ignoring slippage and commission).

Thanks, Steve

3min Russell comes up trumps again

Hi Everybody,

Another hard day yesterday, but at least the 3min Russell cam up trumps with a nice trade mid morning for a very nice +3,7R Profit (ignoring slippage and commission), especially when you bear in mid how choppy and narrow range the swing were yesterday.

Yes, there was a -1R loss to start with, but this was small when compared to the +3.7R Profit. Small losses and Big profit – that is what is required for a successful approach to trading.......

Thanks

Steve