2 trades in a row --> $1300 profits --> All technical !
5 min Emini Nasdaq 100
Hi there,
We haven't have such good chance for a long time... market has been sluggish and range-bound.. day traders need some volatility to make money.. I made 2 trades today..one long and one short.. you will see that both are perfectly valid trades..
Trade 1
Market opened lower today with disappointing earnings from caterpilla and google... But I wasnt prepared to short the market as the stochastic was already in the oversold region. I waited till 11:00 am when price pulled back to the red moving average and started to bounce off... This was accompanied by a down turn in stochastics and I shorted 1 contract at 2055 and another 2 contracts at 2052 when there was a slight pause in price action. .. I held my position all the way until stochastics tried to turn up again.... and I exited at 2043 with $600 profits
Trade 2
From 12:00 till 13:00, there wasn't much chance and I couldn't tell where the market was going... but one thing evident is that a positive divergence is forming with my Short-term MACD...furthermore, a double bottom seemed to be forming.. and I decided to long 1 contract at 2045 when %K crossed %D in the shochastics accompanied by strong price action upwards.. I longed another 2 more contracts at 2047 and held my position all the way till shochatics and Short-term MACD tried to turn down for profits of $700.