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Hammer candlestick, stochastics up, Short-term MACD up, --> $560 profits.

5 min Nasdaq Emini

Hi,

How's it going? Market is in a consolidation phase...It's not really moving much.. Today's trade is based pretty much on candlestick pattern... At 10:00, a hammer started to form with stochastics turning up...

Furthermore, price was near the low of yesterday which is a support line.. I entered 1 contract at 2115 and another 2 more contracts at 2117.5 when prices consolidated... I exited only when price hit the moving averages and showed no sign of breaking through... notice that stochastics and Short-term MACD turned down after I exited? profits = $560.

Posted by Michael Taylor on October 5, 2007 1:02 AM |

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