It was not a strong day for index futures, but there were couple of set ups for quick profit (well, if only I caught it).

This is NQ. It was not a good setup, but it showed me how the setup works with 20-MA. Potential entry would be above high of 14th bar. Noted it went down to touch 20-MA and closed above all 3 MA and Opening Range high.

[photopress:NQ15_got_away.jpg,full,pp_image]

• Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is up. Looking to get Long
• Where would you get long/short this futures contract ? Above 14th bar high which was above opening range and closed above 3 MA after testing 20-MA
• Where would you put the initial protective stop? Below the low of entry bar
• Where would you exit the position? Planned target would be 61.8% and 100%. It failed to go further after reaching 38.2%. Possible exit would be below the low of 18th bar

This is a trade which I had missed out. I was having position in NQ. Again, this is another setup that would provide some small quick profit. YM bounced back after testing 20-MA.

[photopress:1Dow_15_got_away.jpg,full,pp_image]

• Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is up. Looking to get Long
• Where would you get long/short this futures contract ? Above 14th bar high which was above opening range and closed above 3 MA after testing 20-MA
• Where would you put the initial protective stop? Below the low of entry bar
• Where would you exit the position? Planned target would be 61.8% and 100%.