Gap closed, Stochastics upturn --> $400 profit
5 min Emini Nasdaq 100 Chart
Hi,
I know the trading environment is difficult now and that price is hitting a rut... if you look at the daily chart, it is at the top of the bollinger band and hitting th upper resistance trendline... everybody's waiting for a correction... but surprising,, the market remains resilient...
today's trade capitalized on gap closure and upturn in stochastics.. At 9:45 am,stochastics turned from oversold region and I longed 1 contract at 1798... at 9:44, I went long another 2 contracts at 1800. I set my profit target at yesterday's close, 1806.
The technical evidence were that price is going to close the gap soon... my stop loss is at 1794.... at 10:00, price spiked up and my profit target is hit... I am out with $400 profits.