Hi Everybody,
The 3min NQ was the best of the 4 e-minis yesterday with 3 lovely profitable trades.
The first, a TS2 was “in the direction of” the larger degree up trend. As was the TS4 buy later in the day. The only one that was hard was the DP sell. As you all know, you need to be cautious about DP trades, as they are “trend termination” setups and are a bit like standing in front of a train sometimes. That is why they should only be used when they are either at larger degree support/resistance or after 5 clear swings. This DP sell was at a Wave 5 high, although not perfect, that is why if you had taken it, you should have protected it quickly.
The last TS4 buy only got to the DP from the prior Wave b high, but that is a technique I have shown many times over the last week :-)
Thanks
Steve
The 3min NQ was the best of the 4 e-minis yesterday with 3 lovely profitable trades.
The first, a TS2 was “in the direction of” the larger degree up trend. As was the TS4 buy later in the day. The only one that was hard was the DP sell. As you all know, you need to be cautious about DP trades, as they are “trend termination” setups and are a bit like standing in front of a train sometimes. That is why they should only be used when they are either at larger degree support/resistance or after 5 clear swings. This DP sell was at a Wave 5 high, although not perfect, that is why if you had taken it, you should have protected it quickly.
The last TS4 buy only got to the DP from the prior Wave b high, but that is a technique I have shown many times over the last week :-)
Thanks
Steve
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