Europe: Finland, NOKIA rally

[Tony Beckwith]

A good example here of using MTPredictor End-of-Day to find Decision Point (DP) trades...

The Scanner finds an Advanced ABC pattern however the prior trend is too short. but 1. price is in DP support and 2. there is bullish divergence (see the chart).

Result: still open at +1.7x profit, with the protective stop now at break-even - a risk-controlled free trade.

MTPredictor works on all liquid markets

Tony.

[rrs]

Hi Tony,

I follow your posts of trade examples with great interest.

Am I correct in assuming that the this Nokia setup would have been a valid (Long) Advanced ABC setup if the Prior Trend had continued and ended at the spot marked on the attached chart?

Thank you.

Rama.

[Tony Beckwith]

Hi Rama

Exactly - you need to be able to extend the short trend found by the software to start below the Wave C low to make the ABC pattern potentially corrective.

MTPredictor v6.0 will automate this for all EOD users and label the set-ups as TS4 (as in the current RT software).

BTW stopped out at break-even for a free trade...

Thanks

Tony

[rrs]

Hi Rama

Exactly - you need to be able to extend the short trend found by the software to start below the Wave C low to make the ABC pattern potentially corrective.

MTPredictor v6.0 will automate this for all EOD users and label the set-ups as TS4 (as in the current RT software).

BTW stopped out at break-even for a free trade...

Thanks

Tony

Hi Tony,

Many thanks for your excellent explanation.

Sincerely,

Rama.