Market down, Moving averages down, Stochastics, MACD down -> $400 profits
5 min Emini Nasdaq 100
Market gapped down slightly today and just plunged... It never covered the gap... I waited for my chance.. Moving averages are slanting down and this is the perfect environment to go short...
Stochastics started to turn down and cut the signal line at 12:20..This was coupled with the down turn in Short-term MACD.. I shorted 1 contract at 1813....
Observe the resistance and support line that I have drawn and how price gets kind of sticky around these regions... Short-term MACD and Stochastics started to turn up and I exited my position at 1793 with profits of $400.