OK, Now we have established that we should be looking for buy setups on the shorter term 3 and 5minn Charts, what unfolded on Friday ?
Well, we did get a TS3 buy in the afternoon, please see chart. But, the market only rallied slightly. I hope you have all read the Trading Course ? Because if you have, the you will all know that the most likely place a trade can fail (if it is going to fail) is at the DP from the prior Wave b swing. And that is exactly what happened here.
You all have to remember, that we are still in the harder part of the cycle. You should all know about the “Cyclical Nature of Trading” by now, so we should not anticipate big trades at the moment these will come back soon...
Thanks, Steve
Well, we did get a TS3 buy in the afternoon, please see chart. But, the market only rallied slightly. I hope you have all read the Trading Course ? Because if you have, the you will all know that the most likely place a trade can fail (if it is going to fail) is at the DP from the prior Wave b swing. And that is exactly what happened here.
You all have to remember, that we are still in the harder part of the cycle. You should all know about the “Cyclical Nature of Trading” by now, so we should not anticipate big trades at the moment these will come back soon...
Thanks, Steve
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