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.
- 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