Stochastics up, MACD up, slight loss on 2nd leg of trade --> $320 profits
5 min Emini Nasdaq 100
Hi,
Market is very volatlie these few days. I recommend that if you don't see a signal, stay out of the market. Market started today ranging and then started to plunge down... DId I go short? NO! was there a signal ? NO! So I waited till 10:40 when a white candle finally appeared and stochastics cut up the oversold line.. I longed 1 contract at 1954 and another 2 more contracts at 1977 (this 2nd entry turned out to be a loss) when there was another price surge above a pullback region...
Price was exhibiting considerable resistance from the moving averages and I knew that I shouldn't have gone long the 2 more contracts... Stochastics started to turn... and I prepared to exit... I exited at 1975 with profits of $320.. but making a loss of $80 on the 2nd leg of the trade... I had no choice but to exit because stochastics was turning down and in fact cut the overbought line...