A nice example of trading with M15 and M1 for 14R on DOW

A few of us, in our Skype Trading Group, took this trade yesterday, with various degrees of profit taking.  It's a fine example of how a top-down analysis with entries from the M1 time frame, can give terrific R:R.   

We have had strong upside targets on the monthly/weekly/daily time frames, that we've been aiming for over the past few months.  The "tea leaves" have been spot on and I am still expecting DOW to reach the 40K level, sooner or later.

M15 showed a very strong impulsive move up and the day of the trade was a very clear corrective wave.  During the NEO session, price had broken the overnight high then retraced for much of the session before the London Close.  The ABC123 indi showed FE127 just above a kick-start gap, that had preceded the break of the overnight high - a fine area of demand to be looking to buy; all discussed in the Skype chat so everyone had a chance to prepare.

With a strong price magnet of M15 TZ1 to aim for, there was no question that we'd be looking for the next impulsive move up; we just had to wait for the correction to complete and press the ATM 'buy' button. 

I have uploaded annotated chart pictures to the Training Course - in the section at the bottom with lots of other examples of successful trades done by Skype Group members.  It's worth taking a look - you only need a few of these a year to be very happy, but you'll likely see such examples every week, if you know what to look for.

Trading made simple with eWavesHarmonics and the ABC123 indi ...