After watching NQ futures broke above yesterday’s high, I was waiting for the first pull back to get into Long position. Indeed, Long position was established around 1035am when NQ futures bounced from moving average. This trade, I applied CBL trailing stop instead of setting a fixed profit target.
One trade closed with + 2.81 R (after commission)
- Long above narrow range candle around 1035am (In 200 Tick chart)
- Initial stop set below recent swing low
- Trailing stop by applying CBL technique. Position was closed when it went below CBL.
- Time stayed in position: 13 minutes.