Sept Kicks off with a good start, Strong momentum, Stochastics up --> $730 profits
5 min Nasdaq Emini 100
Price broke from the start and as soon as it crossed the resistance line formed by the previous friday's high, I longed 1 contract at 2002. Notice that this is not a conventional play.. Price momentum is so high that I couldn't resist entering. Price action in this case takes precedence over all other indicators..
However, if you observed, although stochastics and MACD did not strictly turn up from oversold region, they did turn up sharply upwards.. and I was comforable going long another 2 contracts at 2007.
I stayed in my trade all the way until 2017.5 when short-term MACD cut the signal line with profits of $730.