Moving average bounce and Stochastic reflection --> $660 profits
NASDAQ 100 5 minute chart
Dear Trader,
The down trend is still pretty much in tact, I had a quick win today. At 9:45, price bounced off my moving averages and I immediately shorted 1 contract at 1534. The movement afterwards was erractic but when it bounced off my moving averages one more time, I shorted another 2 contracts at 1529.5. My stop loss is at 1536, pretty tight, I didn't want to loss too much. My profit target is at 1520 which is slightly above the previous low. at 10:45 am. my profit target was hit and I was out with $660 profits. $660 in 1 hour, no sweat!