Emini rallies on crude oil price falls. --> $420 profits
5 minute Emini Nasdaq 100
Hi,
How's it is going lately? Market sentiments are centered around crude oil prices and with the fall in crude oil, Nasdaq 100 emini surges up in an uptrend. Such nice patterns are rare these days. I hope you have captured at least part of the trend.
Price was already bouncing off the moving averages and stochastics came off from the oversold region ( as shown in figure above). Nasdaq 100 started off pretty nice with all the necessary ingredients for an upward trend. I longed 1 contract at 1563 and another 2 contracts at 1565 where there is a slight pullback. My profit target was at 1571.5 which is the high established by the previous day. ( last Friday). My stop loss was tight at 1559. Bascially I didn't want to risk much money and if price did fall to 1559, it would have seriously breach the moving averages and it was not too late to get out.
Price momentum was not good around 10:00 am and I was starting to doubt my trade, although I was not losing any money... I decided to let it swim and at 10:25, my profit target was hit with $420 profits. In fact it went beyong 1571.5. But I couldn't have predicted that, so I was satisfied with my profits