Market quiet ahead of FED rate decisions, negative divergence --> Short -->$440 profits
5 min Emini Nasdaq 100
Hi,
How is it going? Market gapped down today but went right up to cover the gap... there was some kind of an uptrend in mid-day, but I was not there to capture it.. Short-term MACD was too close to zero line and price action was dirty.. not enough momentum....
The upward trend was losing steam ahead and negative divergence became evident from 1400 onwards... I shorted 1 contract at 2227 when price broke down in a huge red candlestick to cut my moving average. I shorted another 2 more contracts at 2223.. I held it all the way till the end and exited at 2217.5 with profits of $410.