Long position of NQ was established above high of 6th bar. I scratched the trade when it closed below 5 an 8 MA. One trade closed with -0.66 R loss.
Trade score: 4: Out at a different price from stop, but a losing trade
Execution score: 2: Followed trade entry, but closed out position before predetermined target was hit 5: Impulsive
- Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is up. Looking to get Long
- Where would you get long/short this futures contract ? Above high of 6th bar which was above Opening Range and 8-MA. Hindsight, this is not a good entry, and I was lack of patience and broke the rule-entry bar should be a up bar.
- Where would you put the initial protective stop? Below the low of entry bar
- Where would you exit the position? Fib extension level 38.2% and 61.8%