« Failed to close gap, Shooting star, Bounce of moving average, Stochastics down -> $560 profits | Main | Price snaps back, rebounded from moving averages -> Short -> $480 »

Double top, Stochastics down, MACD down -> $740 profits

5 min Emini Nasdaq 100

Hi,

Market is still in a stage of uncertainty and I advice all beginners to stay out unless you are absolutely certain. there is no point in trading excessively..

Price bounced off the moving averages this was accompanied by stochastics cutting the signal line and stochastics cutting the signal line as well.. Mid-term MACD cut the zero line which is another signal for us to go short.
I shorted 1 contract at 1937 and another 2 more contracts at 1930 only to exit when price touch the neckline at 1920..Profits of $740.

Posted by Michael Taylor on June 23, 2008 5:52 PM |

TrackBack

TrackBack URL for this entry:
http://www.daytradingdiary.com/cgi-bin/blog/mt-tb.cgi/397

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)