Hi Everybody,
On the surface, yesterday was a confusing day on the 3 and 5min US e-minis, “until” you took into account the larger degree trend using the 15min chart, then everything because clearer.
As you can see, the 15min YM started by rallying off DP support – so the 15 trend was up (just buys on 3min charts), then along came a TS2 sell so the 15min trend now turned down (just sells now).
So with this in mind, lets now turn to the 3min YM chart to see what unfolded, but more importantly, what trades should have been avoided as they were against the Up, then down 15min trend.
Thanks, Steve
On the surface, yesterday was a confusing day on the 3 and 5min US e-minis, “until” you took into account the larger degree trend using the 15min chart, then everything because clearer.
As you can see, the 15min YM started by rallying off DP support – so the 15 trend was up (just buys on 3min charts), then along came a TS2 sell so the 15min trend now turned down (just sells now).
So with this in mind, lets now turn to the 3min YM chart to see what unfolded, but more importantly, what trades should have been avoided as they were against the Up, then down 15min trend.
Thanks, Steve
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