OK, now we have set the larger degree trend, it is time to move down to the 3 and 5min Charts to look for trades that fall “in the direction of” this larger degree up trend.

And that is exactly what we got later in the day as the 3min ES gave us a nice looking TS3 buy setup.

As the STF was weak (below the strength band) the trade was taken off at the first profit target, which resulted in a small +2.1R Profit. Although it was only a small profit, it was a profit, and that is OK.

This was using the Standard and basic trade management guidelines, the Expert and Advanced trader could have done better (next post)

Steve

PS. There was also a buy setup on the YM at the same time as this ES setup that would have made +3R approx at the first target.