Market slowly down? Price rebounded from moving averages, stochastics down --> Short --> $180 profits
5 min Emin Nasdaq 100
Hi,
How is it going lately? The apparent uptrend is slowing down... On a daily candle basis you can tell that candlesticks are having shorter and shorter bodies...
This tells us something about how market participants are thinking about the current situation.. Yes, the worst recession is over but is a continued uptrend warranted?
We have doubts about that... Today's trade is simple... Price gapped up today but immediately covered up... There was a chance to go short when price rebounded from the moving averages.
I shorted 1 contract at 1488. This was coupled with stochastics cutting its signal line.. I exited my position at 1479. Profits of $180.