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Ranging market, bounce off moving averages, stochastics up --> $280 profits

5 min Emini Nasdaq 100

Hi,

Market is still volatile and I can't really tell where it is going... I tend to be cautious in such markets... Today, I only entered 1 contract instead of the usually 3 contracts...

I didn't really like the price action but it bounced off an almost flat moving average with stochastics moving up.. this means a good risk/reward for me.. I longed 1 contract at 1945... and exited when price hit the morning high at 1959 with profits of $280.


Posted by Michael Taylor on January 14, 2008 5:35 PM |

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