Long position was established around 1135am, after watching higher lows were formed in 5-min chart, and NQ seems to be supported by yesterday’s low and moving average. Entry order was triggered by a spike of price and I was stopped with 1 R loss at the next bar.
Trade summary
One trade closed with 1 R loss.
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We are getting some sell off of NQ in premarket session. We are having a gap down in the opening of cash market. From the data of past 3 days, we have a UP, a FLAT, and today..DOWN? Let’s see if we are breaking out from the small range formed yesterday.
Patience is always required
Searching for good food is one of the missions in my life. This is a short, non-trading post. Just to share with you an Indonesian restaurant I have found in Singapore. In case you are dropping by Singapore, go and try it out.
I went to restaurant Ayam Bakar Ojolali last saturday. And the food is “certified” by my fiancee (who is Indonesian :)) to be nice and original. Here is their menu and address.
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304 Orchard Road, Lucky Plaza #03-39 & #03-43
Singapore 238863
Tel 62 35 35 97
Open Daily 11am – 9pm
(Will any restaurant owner pay me just to taste their food and post it on my blog one day? fat hope…LOL)
[photopress:NQfullpictureChopFestTRIN.jpg,thumb,alignleft] I ended the day with only one trade, no gain though (well, again, $0.28 after commission. LOL). In fact, after first trade was stopped out, I was waiting for opportunity to go Long since a new uptrend trend cycle was formed. But, heck, nothing happen, it was another chop fest. My adjusted TRIN index (nothing fancy, just some mathematical treatment of NYSE TRIN and TRINQ) showed negative sentiment in the morning in which I went short, and subsequently turned up then stayed flat. What a boring day. I watched the market till 1pm (2am in Singapore) and called it a day.
Luckily, we have the personality test and Trading Goddess around, the day in blogsphere was not so dull though 🙂
In contrast to my morning analysis, I saw a new downtrend cycle was formed. Short position of NQ futures was established at 1030am (Chicago time). It was a nice candle pattern and resisted by down trending moving average. I moved my stop to break even after position was gaining 2.5-R. However, market reversed with a strong big candle. I was stopped out.
Trade summary:
One trade closed with 0 R (after commission)
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There seems to be some weakness in premarket action. At least, I am looking at some selling of NQ in premarket.
Overall, I am still positive on NQ. Opening weakness might provide some opportunity to go long. Patience is required now.
Summary:
btw, I have finally changed the look of this site. I hope it does look good 😉
