Hi Everybody,
If you remember a couple of days ago I talked about a “Gap Opening” play where we look for a market to make a move into a DP within the first few bars of the trading session, usually after a Gap Open. Well, this is exactly what happened on the Russell Index yesterday, where the 3min Chart bumped up into DP resistance, where a red (sell) reversal bar unfolded. The market then declined straight into the “opposing DP” when you should have started to trail the stop just above the bars high to protect the profit.
The result, a nice +6.4R Profit (ignoring slippage and commission).
Yes, this is an Advanced trade, but I did cover it just a few days ago, so it should have been fresh in your minds
Thanks, Steve
If you remember a couple of days ago I talked about a “Gap Opening” play where we look for a market to make a move into a DP within the first few bars of the trading session, usually after a Gap Open. Well, this is exactly what happened on the Russell Index yesterday, where the 3min Chart bumped up into DP resistance, where a red (sell) reversal bar unfolded. The market then declined straight into the “opposing DP” when you should have started to trail the stop just above the bars high to protect the profit.
The result, a nice +6.4R Profit (ignoring slippage and commission).
Yes, this is an Advanced trade, but I did cover it just a few days ago, so it should have been fresh in your minds
Thanks, Steve
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