Market is still weak, moving averages slanting down --> short --> $450 profits
5 min Nasdaq Emini 100
Hi,
Price moved down again. The signal for entering is quite different from the usual signals from MACD or stochasitcs. Today, the market started by going down.. you can see that moving averages are slanting downwards... In the first 30 minutes of trading, you can see that there is only white candle. I shorted at 1960 after a huge red candle appeared. I further shorted another 2 more contracts at 1951 but this turned out to be at almost the end of the downtrend... shortly after I made my second entry, stochastics and short-term MACD started to turn up and cut their signal line.. I exited at 1946.5 with profits of $450.
Frankly, if you are not comfortable with the market situation today, I would advise you to stay on the sidelines first. Even though I made money today. I did not really like the risk/reward that I am getting.