Dummy day trading #42 10-Jan-2007: NQ Long trade closed

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

10 Jan 2007

10 Jan 2007

About Gav

A Father, Husband, Trader, and Blogger. A serious coffee addict. Started trading since 2005, trades Futures and FX.

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Comments

  1. Gav,

    I caught a similar trade on the Russell. This was a great morning to be scalping the minis.

    Edward

  2. Gav,

    I caught a similar trade on the Russell. This was a great morning to be scalping the minis.

    Edward

  3. Edward,
    Glad to know that you caught some profitable trades as well 🙂
    Thanks for your visit and comment. I am looking forward to read more of your trades on your blog!

    Gav

  4. Edward,
    Glad to know that you caught some profitable trades as well 🙂
    Thanks for your visit and comment. I am looking forward to read more of your trades on your blog!

    Gav

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