Friday, 19 June 2009

3min NQ - VSA setup


OK, here is one for the Advanced Traders among you

At 11:45 EST the 3min NQ made a high volume reversal (VSA) signal. The Advanced Traders among you would have spotted that the NQ was both at DP support and on Stochastic divergence. Both signs for a potential low. All that was needed was a blue, buy, reversal bar. This unfolded the very next bar.

This nailed the low. The 3min NQ then rallied in a Elliott Wave 1,2,3 wave pattern, so tightening stops as the Typical Wave 3 WPT was reached would have been a good idea...........

As you can see, even in a quiet day, there are normally setups for the more experienced and Advanced Traders among you, those of you who have spent the time to learn and study the MTPredictor trading course....

Thanks, Steve