Dummy Collection

Long position was established around 1041am (NY time), which was the first pull back of new uptrend cycle. This was the second time NQ trying to test last Friday’s high. I was wrong . Stop loss was triggered with 1 R loss. Since the second attempt of previous high failed, NQ seems to be trapped […]

It is a choppy morning. After observing flag pattern formed, and the first pull back of new uptrend cycle, I took a long position of NQ Futures at the break of flag. It started nicely, however it stuttered after moving up around 38.2% from flag pole. I moved my stop to break even , and […]

Long position was established at 940am when a flag pattern and dummy spot were found. This is another pattern trade, so target is set by using the height of flag pole. Target was not achieve, however, it was near, I closed the position when uptrend seems to be weaker. One trade closed with +1.56 R […]

Though we had some sell off during the opening, I did not find much trading opportunity. Instead, I saw a new uptrend cycle was formed. Long position was established around 1010am. It was a bull flag (more on chart patterns later) combined with my dummy setup.

Lack of patience today, I took a lousy setup this morning, and I was punished. After waiting for around 90 minutes after opening bell, I saw a lower high in NQ futures. I took a short position around 11am (NY time), although my indicators are showing me a choppy day. One trade closed with 1 […]