8-2-10

Crazy bullish day but not a whole lot of tradable opportunities. The market gapped up big in the morning but has chattered around for most of the day.

First trade of the day, 12:04pm

Entered a long on the NQ after a nice 512 tick reversal bar.

Entry: 1899.25

Target: trailing stop to swing lows.

Stop: 1897

Result: Stopped out for a 9 tick loss.

Daily analysis:

Unfortunately for me I missed the 7am move this morning. That was about the only trade-able move today. The trade I attempted was only attractive because it offered minimal risk with a whole lot of market internals in my favor. The market just didn't follow through and continued in chop mode, eventually stopping me out.