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Big Double Bottom, Stochastics and MACD up --> $1200

5 min Nasdaq Emini 100

Hi,

Market gapped down and started to plunge down... I missed this trade.. on hindsight I should have shorted when it broke the moving averages... But that's easy to say on hindsight...

Today's trade is based on strong technical signals.. Do you see a huge double-bottom? There is strong support at 2154 and a hammer candle stick appeared.. Stochastics and short-term MACD went up at the same time...

I longed 1 contract at 2165 and another 2 more contracts at 2170... Price broke all the way through the moving averages... I exited at 2195 only when stochastics started to turn down... profits of $1200

Posted by Michael Taylor on October 24, 2007 5:45 PM |

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