A good day on the e-minis

OK, let’s also look at the 3min NQ...........

And here we can see that the STF was black at the time of the TS4 sell, so this could have been taken using the standard guidelines.

The NQ then declined nicely into the DP target, where a nice +3.9R Profit (ignoring slippage and commission) was banked. Add this to the +1.4R Profit form the ES and it was a good day on the e-minis yesterday..........

Thanks, Steve

A good day on the e-minis

Hi Everybody.....

Yesterday was a good example of why you all need to follow all 4 US e-minis, as we will see in the next post. But before we get there, let’s start with the 3min ES where we had a -1R loss. Yes this was only one -1R loss as the low was taken out after the first signal “before” it was filled so no trade. So only one -1R loss here.

Then we had a DP buy that nailed the low. The ES rallied nicely to reach the DP target where profit were taken (as the STF was weak) for a nice +2.4R Profit (ignoring slippage and commission).

It would have been nice to then “stop and reverse” to the TS4 sell, but the STF was blue. But, let’s look at the NQ in the next post.........

Thanks, Steve

PS, please also see the Advanced Blog, for an “experts” eye on the TS4 sell......

3min ES.

Hi Everybody,

It was a fairly quiet day on the 3min ES for the Standard Traders among you. As the STF was blue, you should have only been looking for buy setups (no sells), and we did get a nice TS4 buy later in the day.

As the STF was weak, profits were taken at the WPT target for a nice +2.1R Profit (ignoring slippage and commission).

Now, we all know that the market actually went much higher, so could you have caught that rally ? Let’s take a look in the Advanced Blog.

Thanks, Steve

Mind the Gap...........

Hi Everybody,

When markets make a BIG gap opening, like yesterday, it is always worth viewing this with caution. When this happens, the first think I do is check the “larger degree” DP’s on the 15min Chart. Here the normal “day session” charts did not give any good information, but the 24-hr chart did (please see the posts on the Advanced Blog).

As you will see, the ES not only made a big gap up yesterday, but ran into 15min DP resistance. When this happens then the “most likely” outcome is for the market to fall as the market attempts to “close” the gap. This is why all potential buy setups failed yesterday and the best trades were on the short side.

I know this is the Standard Blog, but I would like you all to see this “Advanced” short on the 3min ES to show what is possible, once you become more experienced. As you can see, mid morning we did have an abc correction, as found by the Elliott Wave module. The only reason this was not a automatic setup was because of the increased initial risk, but as we were anticipating a big decline, this could have been taken.

As you can see, this managed to capture most of the decline yesterday.

Please take a look at the Advanced Blog, to see now only how the “larger degree trend” was down, but also the 2min chart helped “give confidence” in this ABC manual trade.

Thanks, Steve

What an amazing day !!

But the good trades did not stop there, we got a nice TS2 sell a few bars later that caught the last fall into the low of the day. As the STF was weak, profits were taken at the WPT target. This nailed the low of the day ! for a nice 3.9R Profit (ignoring slippage and commission).

Add this to the +4.2R Profit from earlier and standard Traders should have had a great day with some very good profits !

But the day did not stop there, so please turn to the Advanced Blog, where we will see two more truly amazing trades for the more Advanced Traders among you.

I still cannot believe how well the markets move sometimes and how well MTP does in nailing the turns. Days like this are truly amazing !!

Thanks, Steve

What an amazing day !!

Hi Everybody,

Friday was an absolutely amazing day on the 3min YM, both for Standard and Advanced Traders..... But let’s start with the automatic DP sell just after the open. As the STF was black this was a standard sell setup. The 3min YM declined into the first profit target where the STF was strong, so we should have looked to “run” this short trade, rather than thinking of “stopping and reversing” as two potential buys came in.

The ATRStop held this short as the YM continued to decline for a very nice +4.2R Profit (ignoring slippage and commission).

A good start to the day, but this was only the start, you will be amazed how well MTPredictor does by the end of the day !

Thanks, Steve

What follows a quiet day ?

Hi Everybody,

Yesterday was a good example of how the markets move in cycles. After a narrow range and choppy sideways day on Tuesday, we should have been ready for a day that was likely to produce a big move. And that is just what we got yesterday with the markets collapsing in late trading........ So it was absolutely brilliant that we had a TS1 sell on the 3min ES at 14:54 EDT that had us short just before this sharp decline started !

The only question was whether there were any “other” indications that a continued decline was likely, and therefore to look to “run” this short trade further. Well, if you all take a look at Advanced Blog, you will see my analysis of the 15min Chart. As this set the “larger degree trend to down”, you could have “run” this TS1 short into the close for a massive +10.8R Profit (ignoring slippage and commission)

This is the power of MTPredictor, its ability to keep the losses small and under control, but its ability to help you run trades for huge profits like this.

Thanks, Steve