Uptrend -- bounced up froom moving average --> $675 in 1 hour
5 minutes Nasdaq Emini CandleStick Chart
The downtrend has turned into an uptrend. This could be a pullback or it could be a sustainable uptrend, we don't know. What we do is, we capitalize on it, we ride the wave. You have to be nimble enough to forget that until yesterday the trend was generally down and go long. Trading psychology is one important aspect that tends to be neglected. Price opened with gap down today.. I did not go in immediately as I was not sure whether the gap will close. I waited until about 10:20 am when price bounced off the moving averages after a pullback. I went long immediately at 1482.5 and another 2 contracts at 1491.5. I was pretty confident price will hit the 1500 mark and placed my profit target at 1499.75. At 11:20 am my profit target was hit with $675 profits in my pockets.. Easy trade, smooth and relaxed.