So Far So Good

This morning’s entry on the NQ has already paid off as we just crossed the 1R mark a few minutes ago. Actually I had to go back and retook a snapshot of my charts but was happy to do so. Now as you know per the rules we have to close above the 1R mark – if not then we need to close out EOD.

Here are the respective levels and I even added one tick to the top of bottom which is something we ought to be doing in order to assure proper risk management. As you can see the 1R mark is at 3581.8 and if we close above it then put your stop right there. If not then close out and call it an easy peesy R earned in just a few hours 🙂

The general context is looking more bullish again – we just busted through the 100-hour SMA as well as the 100-day and a NLSL we breached last Friday. If it can keep this up then the bulls may just pull this thing out of the mud. However, we cannot dismiss the fact that we are still plotting lower highs and lower lows on the NQ – until that changes the bears still have a good shot at dragging it lower.

Update on our AUD/USD campaign – good news: We just breached the 2R point and that means we are putting our stop right there at the EOD. Once again – should we drop back and close below it then that will be the end of this campaign.

Finally an update on the NG campaign – it managed to crawl its way above the 1R mark and it’s starting to look pretty good. Move your stop to 4,555 and that’s all for this one.

A few more goodies below the fold for my subs:

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Now that should keep you guys occupied for a while – have fun but keep it frosty.

Cheers,