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Stochastics Down, MACD down --> Short --> $400 profits

5 min Emini Nasdaq 100

Hi,

Nasdaq broke new highs again today.. but did you observe how price moved? It was not a clear cut upward momentum and I am beginning to get worried about how things will turn out...

Today's trade is simple... price simply hit resistance at 2012 and this was accompanied by a downturn in stochastics and short term MACD... I shorted 1 contract at 2011 and another 2 contracts at 2009...

I exited only at 2003 when stochastic started to turn up and there was a white candle appearing.. profits of $400.

Posted by Michael Taylor on July 9, 2007 5:45 PM |

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