Dow Jones Thursday Pullback Continuation Day Trade

16 Oca

I am looking for a High of Day to be put in place. Then a sell off into the gap support for a pullback. I don't anticipate price to break the low of Wednesday's peak formation low after CPI.

I am looking for NY to open lower before the bullish reversal at said level. I am then expecting price to not only take out the high of day but the range high as well (43,775). This will give Dow a 0.75% gain on the day.

16 Oca

İşlem aktif

So I entered in Long at exactly the level I wanted. I ended up getting filled at 43,366. I am using a fixed 75 tick stop at 43,291 and a fixed 200 tick target at 43,566.

I did my part, now its the markets turn to show me some results. I have my 1R stop if it loses. 2.67R potential gain

16 Oca

Not

16 Oca

İşlem elle kapatılmış

After almost to my target by 70 ticks, I moved stop up to B/E plus some ticks. Price came back down on me and I closed it for 27 ticks. This trade didn't quite do what I wanted after I got in. It was good at the moment of entry but lacked follow through. I planned for 200 ticks and don't take profits early at the 130 ticks I had available. My business can't afford to take small profits.

I believe I executed this trade flawlessly with a great entry, great stop and target. The market just failed to deliver on its end.