As we have seen from the YM posts below, a high was coming in at about 11:15EST, banking +2R Profit (ignoring slippage and commission) on the TS3 long. This turned out to be the high of the day ! But wouldn’t it have been nice to sell this high ?
Well, that is exactly what happened on the 5min ES, with an automatic DP sell coming in at 11:15EST as well. Please see the chart to the right. Click on the chart to enlarge. OK, DP’s are nice, but we must always check that they are in line with larger degree DP’s support or resistance, which is what I will look at in the next post.
As the 60min chart was in line with this (next post) it was a good idea to look to beyond the initial target and run with the ATRStop. The result was a nice +5.5R Profit (ignoring slippage and commission)
Thanks, Steve
Well, that is exactly what happened on the 5min ES, with an automatic DP sell coming in at 11:15EST as well. Please see the chart to the right. Click on the chart to enlarge. OK, DP’s are nice, but we must always check that they are in line with larger degree DP’s support or resistance, which is what I will look at in the next post.
As the 60min chart was in line with this (next post) it was a good idea to look to beyond the initial target and run with the ATRStop. The result was a nice +5.5R Profit (ignoring slippage and commission)
Thanks, Steve
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