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Stochastics down -> Shorted 3 contracts -> $480 profits

5 min Emini Nasdaq 100

Hi,

How is it going lately? Market has been going up and up.. Apparently we are in an optimistic market... However there is a slight correction today and I made use of this to earn some money!

Price began to fall at the opening with stochastics cutting down from the overbought region.. I shorted 1 contrat at 1891 and another 2 contracts at 1885. As moving averages are flat, price cut it with ease... Notice how short-term MACD also cut the signal line down? The same applies to mid-term MACD

I exited at 1879 when stochastics started to cut up the signal line from the oversold regioin.. profits of $480.

Posted by Michael Taylor on January 11, 2010 5:35 PM |

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