Tuesday, 26 January 2010

15min NQ chart

Hi Everybody,

As I said in yesterday’ post, yesterday was a harder day in the US eminis. But after a few days of sharp declines, a low was likely and the best setup was on the 15min NQ, where the low yesterday came in right at the Typical Wave 3 WPT.

I agree, this was not perfect, and that is why caution should have been used on any long trades. But still longs should have been preferred over shorts yesterday.

Thanks

Steve