One of my best day

A nice day in terms of R profit. 4 trades in total. X was 0.6R loser. Happy with the other 3.

QLD (Trade based on 5 min. chart)


Nasdaq gapped above the PDH and the first 5 min. bar of QQQQ was a doji. I went long QLD which is same as QQQQ but is 2X which means if Nasdaq moves 1%, QLD moves 2%. This saves some money on commission because I have to go long half the number of shares as QQQQ. Went long on the break of the doji. My target was 38.2% FE measured from PDL to ORH (15 min). 7th bar spiked down and I exited half my position at around 36.21 (1R) to book in some profit and moved the rest to BE. 7th bar formed a nice green hammer on ORH which would have been a nice place to add back to my position but I did not. Price reached the target smoothly after that.

Inside Bar: WYNN


WYNN (Wynn Resorts, Limited) gapped up and the first bar closed just above PDH leaving an upper tail. Real body of the 2nd candle filled the tail and closed strong. Long on the break of 2nd candle high. I was ready to exit my position if the low of 9/5 was taken out. Luckily it did not and price continued up reaching my target of 61.8% FE of the first bar.

Relative Strength: AXP



Market rallied in the morning but AXP (American Express Company) was very weak compared to the market. First bar (1/15) saw some selling and the third bar was a doji that bounced off the 20 EMA. 6th bar formed a not so good red spinning top, 7th candle closed very weak and below PDH and 5 EMA. Entered short on the break of the 7th bar low. Covered my entire position when the bar (shown on the chart with a white arrow beneath) was formed a bullish engulging candle.