Not many daytrade setups today, at least setups I could find. Was not focussed and had other things going on at the same time, so that might have been a reason.

Did find JWN and that was the only trade for today.

Very nice base near the high of the day

Very nice base near the high of the day

  • Entry 41.04, just below previous days high (blue line)
  • Initial stoploss: 40.94, but could have been even tighter. However if the stop is less then 10 cts I usually use 10 cts anyway
  • Took half off at 41.24, 2R.
  • Right after that I set the stop to breakeven
  • Trailed the stop on the 5 min chart, jsut below the swings and the sma 20
  • Sold the rest 5 minutes before the close at 41.31
  • Result: 2R+ 2.7R=4.7R/2=2.35R