OK, now we know that the larger degree trend was up, lets move down to the 3min Chart.
Here we have two buys and one sell yesterday. As the trend was clear up, the Standard Traders among you would have focused on the two buys.
The first of these would have been break-even, but the second was the best trade, with a Profit of approx +5R on the Close (ignoring slippage and commission).
This char is worth a few more comments for the more experienced traders among you, in that the second (TS3) buy was a lot “clearer” with nice clean swings than the TS1 earlier. You have heard be talk before about only trading when the “pattern is clear” and this is a good example, and why I (personally) would have preferred just the TS3 buy as it had a clearer pattern.
Thanks, Steve
Here we have two buys and one sell yesterday. As the trend was clear up, the Standard Traders among you would have focused on the two buys.
The first of these would have been break-even, but the second was the best trade, with a Profit of approx +5R on the Close (ignoring slippage and commission).
This char is worth a few more comments for the more experienced traders among you, in that the second (TS3) buy was a lot “clearer” with nice clean swings than the TS1 earlier. You have heard be talk before about only trading when the “pattern is clear” and this is a good example, and why I (personally) would have preferred just the TS3 buy as it had a clearer pattern.
Thanks, Steve
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