Thursday, 7 January 2010

As usual – larger degree trend first


Hi Everybody,

Let’s take a look at the 15min NQ chart, where we can see a perfect example yesterday of how to use the 15min Chart for the larger degree trend....

First the 15min NQ hit DP resistance, this set the trend (on the 3 and 5min Charts) to down, until we reached 15min DP support. This then changed the trend to up.

So bearing this in mind, let’s see what trades there were on the 3min chart

Thanks, Steve