Double bottom, stocastics up and rebound from moving averages -> $1080 profits
5 min Emini Nasdaq 100
Hi,
How is it going lately? We have stop the uptrend, but price in a stage of consolidation amongst mixed signals from the market.
Today's trade had some risks, but the risk/reward ratio was good enough for me to take the plunge. When stochastics turned up and
cut the signal line, price found support at the moving averages and rebounded, I longed 1 contract at 1416 with a stop loss pretty close at 1412.
I wasn't really prepared to lose too much on this trade. When price broke through the neck of the double bottom, I knew there was chance to go long again.
I longed 2 more contracts at 1422 and held my position all the way till the end with profits of $1080.