In afternoon trading, I was watching the ES and ER market. There was a very nice setup going on with a trading range. I was looking to capitalize on a basic breakout of the market. The LONG entry came on the 3:15 to 3:30 Bar. I had a limit order placed at 1383.5 ... although I only made a very small profit on this trade ... this one could of taken off. This was an End of Day type of trade that I was looking at in the market. As I am placing this information in I can see the market did go on to reach my target, although I my protective stop was hit. I like to trade with a very tight stop on the end of the day. What I am looking for is a momentum trade that doesn't look back. This didn't happen for me today.
Best Wishes,
David AKA Tiger
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