Stochastics Down, Bounce off Moving average --> $1520 profits
5 min Emini Nasdaq 100
Hi,
How's it going lately? Market is finally showing some signs of weakness as corporate profits fail expectations...
Today's trade is simple and straight forward...
Market gapped down and tried to cover the gap... I did not play the gap closure.. I was waiting for the opposite to happen... and it did.. .
gap closed but did not go much further beyond that... and at 13:00, price weakness started to show and stochastics started to turn down...
I shorted 1 contract at 2050 and another 2 contracts at 2040.. Notice how Short-term MACD also crossed the zero-line? This is positive affirmation... I held my position all the way till the end when there is some buying pressure and stochastics started to turn up.. I exited at 2018 with profits of $1520.