Riding the wave down! --> $1160 profits
Dear trader, the market has been in a downward trend for the past few days, I hope you are doing more shorting than you are long. If you followed my advice to short, you'd have captured some major moves and nice trends downwards. Today is such a day. Until 12:00am. I still couldn't tell where the market was going although I knew that it has a downward bias. At 12:00 am. NQ touched one of my moving averages and immediately reflected from it. This is a bearish signal and RSI was also at the overbought region, giving additional evidence to shorting. I shorted 1 contract at 1549 and another 2 at 1542 when price broke down again. My profit target was at 1525 which was around the low of the previous day. I intentionally set my profit target further as there was enough momentum to bring it down. At 3:30 pm, I was out with $1160.