My winning trades - 23 Jan 2025

A couple of winning trades to talk about. The first was a trade on Chainlink entered on the 15 Jan and closed on the 23 Jan and the other trade was an intra day trade. Let's get into the details.

The above chart shows a very clear support level represented by the horizontal blue line. My trade here was entering on a surge off of support that had previously broken. The price action followed through and ended up testing the previous pivot high.

I had already taken a portion of profits after realising 5 times my risk and after seeing that price action was weakening considerably I closed the remaining of the trade. The result is below.

The next trade was on NASDAQ on the 2 minute chart. See the zoomed out chart below for context.

As mentioned in the chart the price action on the higher time frames was bullish and I was looking to see if there was a possible entry on opening that would match my rules / trading strategy entries.

The zoomed in chart shows my entry. The price gapped down on opening and made a somewhat smooth double bottom, which was then bought up by the bulls. This appeared to me as a reversal pattern and I entered a trade setting a stop at the low of the double bottom.

Price then continued to surge. My aim was to take profits at the point that the gap was filled and then ride the rest of the trade unless there was evidence that price was reversing. I adjusted the stop loss after taking profits to around the close of the prior day. Eventually, my stop was triggered but overall I ended up with a profit that was 3 times my initial risk of £50.

Trade Clearly!