Hi Everybody,
Today I would like to show you some more Advanced techniques that you can use to uncover additional setups with MTPredictor. For this I would like to look at the FTSE.
If you look at the chart you can see how the FTSE made an Important high just after the open. This was also at a 15min (larger degree) DP resistance. The FTSE then decline,. In Elliott Wave terms this is a Wave (1). Then a “corrective rally” unfolded into the Wave (2orB) WPT, where a red (sell bar) unfolded. This was the signal for a new short trade. As this is a Wave (2) high, because the larger degree trend was down, we “play for” a Wave (3) type decline.....
And this is exactly what unfolded.............. As the FTSE declined sharply to reach the Typical Wave 3 WPT where a nice +7R Profit was available (ignoring slippage and commission).
As you can see, MTPredictor has the tools that will allow you to uncover some great trade opportunities, if you take the time and make the effort to “learn” how to use them....
Thanks, Steve
Today I would like to show you some more Advanced techniques that you can use to uncover additional setups with MTPredictor. For this I would like to look at the FTSE.
If you look at the chart you can see how the FTSE made an Important high just after the open. This was also at a 15min (larger degree) DP resistance. The FTSE then decline,. In Elliott Wave terms this is a Wave (1). Then a “corrective rally” unfolded into the Wave (2orB) WPT, where a red (sell bar) unfolded. This was the signal for a new short trade. As this is a Wave (2) high, because the larger degree trend was down, we “play for” a Wave (3) type decline.....
And this is exactly what unfolded.............. As the FTSE declined sharply to reach the Typical Wave 3 WPT where a nice +7R Profit was available (ignoring slippage and commission).
As you can see, MTPredictor has the tools that will allow you to uncover some great trade opportunities, if you take the time and make the effort to “learn” how to use them....
Thanks, Steve
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