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Market downtrend, rebound from moving averages, stochastics down -> $100 profits

5 min Emini Nasdaq 100

Hi,

How is it going lately? Market has turned to a downtrend lately, you can see that moving averages are downward sloping...

I am waiting for a rebound of price back to the moving averages before it bounces down again... I got my chance when stochastics

started to cut down the overbought region and I entered 1 contract at 1402... I stayed in the market until stochastics cut back up

I exited at 1397 with profits of $100.

Posted by Michael Taylor on July 8, 2009 5:48 PM |

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