Dummy day trading #42 10-Jan-2007: NQ Long trade closed

Long position of NQ was established when a new uptrend cycle formed. Observing the higher lows and higher highs in 5-min chart. This was an entry above opening range and facing yesterday high. I trailed my stop to lock in 1-R profit after the position was gaining more than 2-R and stalled at yesterday's high level. Stop was hit, I was out with 1-R profit.

Trade summary

Long above the high of 14th candle (10:35am NY time) which was the first pull back of the new trend cycle.
Initial stop was set below the low of 14th candle.
Position was closed below yesterday's high.

One trade closed with 1-R gain

Comments

Historical comments are preserved here. New comments are closed.

Edward2007-01-10 23:01:00 UTC

Gav, I caught a similar trade on the Russell. This was a great morning to be scalping the minis. Edward

Edward2007-01-10 23:01:24 UTC

Gav, I caught a similar trade on the Russell. This was a great morning to be scalping the minis. Edward

Gav2007-01-11 02:24:00 UTC

Edward, Glad to know that you caught some profitable trades as well :) Thanks for your visit and comment. I am looking forward to read more of your trades on your blog! Gav

Gav2007-01-11 02:24:51 UTC

Edward, Glad to know that you caught some profitable trades as well :) Thanks for your visit and comment. I am looking forward to read more of your trades on your blog! Gav

Dummy day trading #42 10-Jan-2007: NQ Long trade closed

Comments

Recommended FX Charting

Recommended Training