Wednesday, June 9, 2021

Russell 2000 Bear Scalp - Exit



This started as a scalp trade but the weak and slow overnight trading dragged the price action into today. So you could argue it turned into a swing trade. But scalp or swing, look at that chart!

Yesterday's post called out a target of 2326.20. The last bar on the chart shows it breaking the 2324.90 61.8% Fibonacci retracement I was shading ("shading" means putting your exit a little ahead of the target). As you've seen, if you've been following this blog, trades do not always hit their targets like this.

Net: Entry 2344.70 - Exit 2326.20 = 18.5 points x $5/pt = $92.50 win

If I used the full contract it would have been 18.5 points x $50/pt = $925

No comments:

Post a Comment