Tuesday, 26 January 2010

15min ES chart


I normally now move down to the 3min charts for the actual trades, but today I want to also look at the 15min ES chart first, because this has a bearing on trade management on the 3min TS4 long that I will look at in a minute.

The part to focus ion is the TS3 sell that unfolded later in the day. When this came in, alarm bells should have started to ring and this is why I suggest protecting the TS4 long on the 3min chart more aggressively. Especially as we are heading towards the harder part of the trading Cycle (Cyclical Nature of Trading)

Thanks

Steve