Trading Nasdaq long retracement using multiple timeframes and a bullish candlestick pattern off the higher timeframes allows traders to capture profits.
Trading Nasdaq Long Retracement
With the currencies moving so well, Gail hasn’t focused on the futures as much. However, today the currencies are moving a lot slower and not trending (signals are at a 50% win rate) so Gail opted for trading the Nasdaq. The 720 minute formed a bullish candlestick pattern indicating a potential retracement this morning. Gail opted to enter one contract on the futures plus a 20 minute binary using a $45 limit order. The futures trade made almost 20 points (risking about 10 points, which is why she was only trading 1 contract but maintaining a target of 1:2) and the binaries expired in the money resulting in the full profit potential being realized.
In this video, Gail Mercer, founder of TradersHelpDesk, shows you how she traded a bullish candlestick pattern on the Nasdaq futures using a combination of timeframes. She also entered a 20-minute binary option on the US Tech 100, which also expired in the money.
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