Wednesday, 6 January 2010

Perfect Wave 5 low


But for me the best setup was on the 3min Russell Index. As you can see from the chart, we had a “perfect and ideal” 5-wave pattern, with the low right at the Typical Wave 5 WPT. Then, to add more weight, we had a high volume (VSA) spike at the low. To me, this was the best and most obvious setup yesterday.....

The TF rallied nicely to reach the DP from the prior Wave 4 high, exactly as outlined in the Trading Course :)

The result was a nice +3R Profit (ignoring slippage and commission)

Thanks, Steve