2nd trade of the day. Long position was established at 1215pm. That was the first pull back of new trend cycle. After getting stopped out in the first trade, I was extra patient to wait for a quality entry. Here it is. Small R. I trailed stop according to my plan and get stopped out with 3-R gain.

Trade summary:

• Long above the high of 1215pm candle which was also the first pull back of new trend cycle.
• Initial stop was set below 1215pm candle.
• Profit stop was triggered at 1245pm.

One trade closed with 3-R gain.

This is the last trade of the week. I call it a day now.

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

Short position of NQ was established when NQ first pulled back to 18 MA. Stop was moved to break even point after 1.5-R gain. Subsequently, I trailed stop twice to protect profit. Position was closed with 1.83-R gain.
Trade summary

• Short below low of 15th (10:20am) candle @1798.25 which was the first pull back of current trend cycle.
• Initial stop loss was set at the high of 15th candle.
• Position was closed right above Fib extension level 61.8% @1790.25

One trade closed with 1.83-R gain.