Hi Everybody,
I know that a number of you follow the 3min charts, but (as I have said before), please don’t forget the 5min chart, as these very often have good setups on as well. There is a tendency for some traders to drift to ever shorter and shorter time frames, when in reality, some of the bigger moves actually unfold on slightly longer time frame chart. The very short time frame is usually only noise so traders can get stopped out by a noise wiggle before the main trend really gets going. That is why the 5min charts can very often give you good trades.
Here is a great example, where the best trade yesterday was on the 5min NQ. As you can see, this caught the string rally in the afternoon for a nice +3.9R Profit (ignoring slippage and commission)....
Thanks, Steve
I know that a number of you follow the 3min charts, but (as I have said before), please don’t forget the 5min chart, as these very often have good setups on as well. There is a tendency for some traders to drift to ever shorter and shorter time frames, when in reality, some of the bigger moves actually unfold on slightly longer time frame chart. The very short time frame is usually only noise so traders can get stopped out by a noise wiggle before the main trend really gets going. That is why the 5min charts can very often give you good trades.
Here is a great example, where the best trade yesterday was on the 5min NQ. As you can see, this caught the string rally in the afternoon for a nice +3.9R Profit (ignoring slippage and commission)....
Thanks, Steve
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