$480 in profit. -- Easy win?
Hi,
Remember I said yesterday that market has an upward bias. So the logical way to trade this market is to go long. You can go short, but its simply not worth the risk. Marketk opened with a 3 point gap and closed the gap almost immediately. At this point I was already tempted to go long, but price did not reach the moving averages yet and I waited for another chance. Price fell low enough and there was a strong rebound with stochastics and MACD in the oversold region. I bought 1 contract at 1700 and another 2 at 1702. My price target was at 1709.5, half a point below 1710 and stop loss at 1698. This was a slow trade, although price did not move drastically against me during the trade, it climbed slowly and there are times when I questioned my trade. But if its not hitting my stop loss, I decide not to exit it manually. My perseverance rewarded me with $480 when price closed at 1709.5 after two and a half hours.