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Bounce off Suport, Stochastics up, MACD up --> $1060 profits

5 minutes chart Emini Nasdaq 100

Hi,

The market was unpredictable today.. there were huge swings up and down and I could not tell market direction.. I did the only thing I could do --> Stay out of the market...

I had to wait till around 15:00 before there is a decent trade.. Price hit lower but bounce off the support line ( the low established in the morning session.) Also there is this big double bottom that seems to be forming..

I longed 1 contract at 1935 and another 2 more contracts at 1943... I held it all the way to the end where I exited at 1958 with profits of $1060.

Posted by Michael Taylor on August 1, 2007 9:25 PM |

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