July 2, 2008
Stochastics down, Short-term MACD down, Moving averages down -> $1000 profits
5 min Emini Nasdaq 100
Price maintained the downtrend throughout the day, but I only shorted after 14:00. I was looking for a good entry point...
This came only when Stochastics went up and price rebound from the moving averags.. I shorted 1 contract at 1950 and another 2 more contracts at 1836 when price broke through the support line.. I exited at 1824 with $1000 profits.
Author Michael Taylor : 5:30 PM | comments (0) | trackbacks (0)
July 1, 2008
Stochastics - Short term, Mid-term MACD up --> $500 profits
5 min Emini Nasdaq 100
Hi,
Market gapped down toady and there was a strong pullback to close the gap... but as soon as it closed the gap... price rebounded from the moving averages... It was moving down again with a sinking feeling... I cant tell where the market is going... there is no signal....
12:30, price started to show some signs of stabilization... there was strong support at 1825... at the same time, stochastics and short-term MACD cut the signal line... but I am still hesitant to going long..
Mid-term MACD started to cut its signal line and short-term MACD rebounded from its signal line as well.. I longed 1 contract at 1835. price reached the high fromed from the morning session and went further up.. I was feeling that it might get a little shaky and started to look for signals to get out... Stochastics cut its signal line down and I exited at 1860, with $500 profits.
Author Michael Taylor : 5:26 PM | comments (0) | trackbacks (0)
June 30, 2008
No trade today... market ranging in a band...
5 min Emini Nasdaq 100
Market is ranging within a 20 point band.. If you look at stochastics alone, you might be tempted to trade.. --> look at the green circles.. But in the broader context, moving averages are flat, candlesticks have long shadows short-term MACD is close to the zero line.. all these suggest that we should stay out of the market.
Author Michael Taylor : 5:49 PM | comments (0) | trackbacks (0)
June 24, 2008
Price snaps back, rebounded from moving averages -> Short -> $480
5 min Emini Nasdaq 100
Hi,
Judging from how the market behaved these few days, it is highly unlikely that I would go long... Price went up after 11:00 am all the way to touch my moving averages.. It ranged for sometime before starting to show signs of weakness again..
Stochastics and short-term MACD cut down their signal lines, I shorted 1 contract at 1927.5 and another 2 more contracts at 1917 when it pulled back.. However, this proved to be a wrong move as price did not move much further down..
Stochastics and short-term MACD started to cut up again and I exited at 1912.50 with profits of $480.
Author Michael Taylor : 5:30 PM | comments (0) | trackbacks (0)
June 23, 2008
Double top, Stochastics down, MACD down -> $740 profits
5 min Emini Nasdaq 100
Hi,
Market is still in a stage of uncertainty and I advice all beginners to stay out unless you are absolutely certain. there is no point in trading excessively..
Price bounced off the moving averages this was accompanied by stochastics cutting the signal line and stochastics cutting the signal line as well.. Mid-term MACD cut the zero line which is another signal for us to go short.
I shorted 1 contract at 1937 and another 2 more contracts at 1930 only to exit when price touch the neckline at 1920..Profits of $740.
Author Michael Taylor : 5:52 PM | comments (0) | trackbacks (0)
June 18, 2008
Failed to close gap, Shooting star, Bounce of moving average, Stochastics down -> $560 profits
5 min Emini Nasdaq 100
Hi,
The market gapped down by around 10 points today. Price try desperately to cover the gap, but it never happened... My chance came when price formed a small shooting star briefing touching the moving averages.. This was accompanied with the stochastics turning down.. I shorted 1 contract at 1964 and another 2 more contracts at 1954... But I exited at 1948 when price approached the low formed earlier (see support line) and stochastics and short-term MACD started to cut up their signal lines.. Profits of $560.
Author Michael Taylor : 5:50 PM | comments (0) | trackbacks (0)
June 16, 2008
Moving averages expand upwards, hammer candle appeared, low risk --> profits $240
5 min Emini Nasdaq 100
Hi,
The market is still in a ranging mode.. I am still not too sure where it is heading.. But as far as today is concerned, there have been some slight improvements.. If you observed, the moving averages are slanting upwards, this is a good signal.. furhtermore, the moving averages are expanding.. you can see that the faster moving averages are moving further and further away from the slower moving averages as time passes..
I was waiting for a pullback to enter the market. There was a pullback at 12:15 with stochastics slightly cutting up the signal line but I was still uncomfortable with entering the market. I only entered at 13:15 when I saw a hammer and apparently price found support at the moving averages... I entered 1 contract at 1975 and exited only at 1987 when price became heavy and stochastics, short-term MACD started to show signs of topping over. Profits of $240.
Author Michael Taylor : 5:17 PM | comments (0) | trackbacks (0)