nasdaq breakout trade
Here is a buy i taken today.
I noticed at market open this morning a squeeze, so marked up my sell side and buy side trend lines.
I then waited for a 5 minute candle close on the breakout for entry, which was a big engulfing candle with volume.
extra confirmation:
price holding above the 50EMA
stop loss was below the previous higher low (21 pips)
Target of 3:1 R&R resulting in a 65 pip gain.
3% winning trade to start the week.
I noticed at market open this morning a squeeze, so marked up my sell side and buy side trend lines.
I then waited for a 5 minute candle close on the breakout for entry, which was a big engulfing candle with volume.
extra confirmation:
price holding above the 50EMA
stop loss was below the previous higher low (21 pips)
Target of 3:1 R&R resulting in a 65 pip gain.
3% winning trade to start the week.
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