Gapped closed, bounce back up.
5 min Emini Nasdaq 100
Hi,
How is it going lately? Done your christmas shopping? It's a busy end-of-year for me as well.. I have not been updating my blog as much as I would like to..
Today price gapped up by around 8 points.. it proceeded to close the gap almost immediately... after closing the gap, I was not getting a good signal to go long... stochastics was still above the oversold region and short-term MACD did not provide any signal too...
Basically, at hindsight, price went up to break the high established by the opening bell.. but I stand by my decision not to trade as there was no signals.. After breaking the high, candlesticks basically had shortbodies and were zigzagging ... Not an ideal situation to trade...