I'm in Cupertino for a work on-site this week so I'm trading the open on Pacific Time. I woke up at 5:30 to check the premarket and overnight session and we were in a pretty narrow 21 point range between 4496 and 4517 again (screenshot below). The premarket spent a decent chunk of time trading in a tight 2.5 point range before breaking out and inevitably pulling back into range as the open approached.
Things got started quick at the bell and price action surged to the upside, eventually taking out the overnight highs within the first 20 minutes or so. My first (and only) trade of the morning was taken once I positively identified an upward trendline after things settled a bit after the open. See below:
While not perfect, price action was conforming to the upward slope well enough to confirm the upward bias. I saw a new high, followed by a 1st entry long > pull-back and a decent 2nd entry long signal bar.
I placed my bracket order to buy 1 tick above my signal bar and moved my stop loss 1 tick below the signal bar per protocol and received a fill. The 2nd pullback ended with a green bar followed by a doji so this was a more aggressive 2nd entry long (I would have liked to see a more dominant signal bar, I trailed price pretty aggressively so not to give back profits. My SL was taken out at a 2.25 point profit ($112.50).
- 1 trade
- 1 winner, no losers
- 100% Win Rate
- Net Profit: +$109.50