Stochastics down, MACD down, Strong downwards Momentum --> Short --> $840 profits
5 min Emini Nasdaq 100
The day opened with a slight gap down which was immediately covered... price then started to tumble... I wasn't too sure in the morning session as market direction is not transparent... and I did not have a signal to enter... But what I do know is, if I were to enter, it would have to be a short...
My chance came at 12:30... when price rallied up to my lowest moving average and simply bounced down... This is accompanied by Stochastics turning down which was a very bearish signal...
I shorted 1 contract at 1907 and another 2 contracts at 1904 when there was a slight pause in price movements.. After that, the next 30 minutes that followed was making me smile all the way to the bank..
I only exited at 1891 when the whisker of the redcandle appeared to be as long as the body and a white candlestick appeared next... profits = $840.