Saturday, February 4, 2017

QQQ Gap Fill



Here is a QQQ gap fill trade. With e-mini and indexes I prefer taking fades off double resistance and only against the trend when a gap isn't filled. You can plan these the night before. 
 
Here I took the trade off the previous day high and pivot. Goal was before gap fill with the Stop same distance. If the gap would have filled before my entry would have voided the trade.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE