Moving averages expand upwards, hammer candle appeared, low risk --> profits $240
5 min Emini Nasdaq 100
Hi,
The market is still in a ranging mode.. I am still not too sure where it is heading.. But as far as today is concerned, there have been some slight improvements.. If you observed, the moving averages are slanting upwards, this is a good signal.. furhtermore, the moving averages are expanding.. you can see that the faster moving averages are moving further and further away from the slower moving averages as time passes..
I was waiting for a pullback to enter the market. There was a pullback at 12:15 with stochastics slightly cutting up the signal line but I was still uncomfortable with entering the market. I only entered at 13:15 when I saw a hammer and apparently price found support at the moving averages... I entered 1 contract at 1975 and exited only at 1987 when price became heavy and stochastics, short-term MACD started to show signs of topping over. Profits of $240.