Market down again. Broke moving averages, Stochastics down --> $460 profits
5 min Emini Nasdaq 100
Hi,
Market just went down and down today,, but there was not a clear signal to short. I wasn't even thinking of going long.. if you look at stochastics, you might find several signals for you to go long. But do you want to take the risk? Is the reward worth the risk? I don't think so... When price broke below the moving averages, I knew that things were going to turn sour... I just patiently waited for a chance to short...
Finallly my chance came towards the end of the trading day... when price formed something like a double top, never managing to break above the moving averages and stochastics started to turn down... I shorted 1 contract at 1837 and another 2 more contracts at 1832.. I held it all the way till the end and exited at 1826 with profits of $460.