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:
- Short below the low of 13th candle.
- Initial stop loss was set above 13th candle.
- Stop was moved to break even after position was gain more than 2.5 R. And stop was triggered.
One trade closed with 0 R (after commission)
[photopress:NQ5mintradeclosed.jpg,full,pp_image]
Hey Gav — Happy New Year! Also, I really like you new blog design.
Same result for me today — one trade for 0.0R
Best of luck in 2007.
Hey Gav — Happy New Year! Also, I really like you new blog design.
Same result for me today — one trade for 0.0R
Best of luck in 2007.
Estocastica, Thanks! 🙂
It was a chop fest indeed.
Have a great 2007!
Estocastica, Thanks! 🙂
It was a chop fest indeed.
Have a great 2007!