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Trade that got away 09-Oct-2006

by Gav Leave a Comment

Though I was not trading today, I kept an eye on any potential nice setup. I saw a setup in E-mini Russell 2000 futures. Though final target 161.8% fib level was not achieved, It did hit 138.2% which was good enough to cover commission and bag some profit.

ER2
[photopress:ER2_15_fib_whole_day_1.jpg,full,pp_image]
Q & A

  • Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is up. Looking at Long
  • Where would you get long/short this futures contract ? Long above 12th bar high which is a inside bar above Fib extension
  • Where would you put the initial protective stop? Below 12th bar low
  • When would you stop trading for the day? After position is established/2pm NY time
  • Where would you exit the position?Target Fib extension 138.2% and 161.8%

Filed Under: Trading Journal

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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