UK-Iran tensions intensifies, Market down, MACD cuts Signal Line, Stochastics down --> $555 profits
5 min Emini Nasdaq 100 Candlesticks
Daily Emini Nasdaq 100
Hi,
How's it going lately? the market is not really trending,, if anything, I would say its in a state of consolidation...This is apparent when you look at the daily charts. yesterday was a doji resting on the middle of the Bollinger Bands....
Today's trade is purely on momentum and technicals. Well, at the same time, we know that market is jittery about UK and Iran... So it made sense to me to short.
Stochastics sharted to turn downwards cutting its signal line at around 11:10,, I shorted 1 contract at 1792.25,.. and when price broke one of my long term moving average (blue line), I shorted another 2 contracts... there was good momentum downwards and this was further confirmed by mid-term MACD cutting its signal line too. I rode it down....
However, at arond 11:50, stochastics started to upturn and a white candle stick appeared... it seemed like the momemtum has ended and I exited at 1781.5 with $555 profits.. Notice the orange circles that stochastics crossed up from the oversold region?