Consolidation on last day of July --> still make $370
5 minutes Emini Nasdaq 100 candlestick chart
How's it going? Today seems like a day in consolidation after the big moves last week. There wasn't really any big movement today, but I managed to capture the gap closure and ended up with $370 profits.
Price opened with a gap down and at 9:50am, it touched the moving averages and rebounced sharply. I had trouble entering as price was too volatile. I only managed to long 1 contract at 1514. Price went up smoothly and I immediately reckon that it is going to close the gap. I went long another contract at 1516.5. When price shot pass 1518, the opening price, it was a sure confirmation that it is going to close the gap. I placed my profit target at 1522. At 10:25 am, my profit target was hit and out I went with $370 of profits.