OK, now we know that the larger degree trend was down in the morning, you should have been on the lookout for selling opportunities, and the best on of the day came immediately after the open on the 3min NQ. For those of you who read this Blog regularly will know that one Advanced setup is to look for a “failed” move off the open into DP support / resistance. So with the larger degree trend down, a sharp move off just after the open into DP resistance on the 3mion NQ was the perfect sell setup.
This has you short form the high of the day as the markets collapsed. Using the ATRStop would have held the short trade for a massive +10R Profit (ignoring slippage and commission).
What a brilliant trade ! Now do you see why I was trying t prep you all in Fridays post, because I knew that we were due for a brilliant day, because the prior few days had been hard. This is a brilliant example of the Cyclical Nature of Trading at work !
Thanks, Steve
This has you short form the high of the day as the markets collapsed. Using the ATRStop would have held the short trade for a massive +10R Profit (ignoring slippage and commission).
What a brilliant trade ! Now do you see why I was trying t prep you all in Fridays post, because I knew that we were due for a brilliant day, because the prior few days had been hard. This is a brilliant example of the Cyclical Nature of Trading at work !
Thanks, Steve
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