ECB hikes rates by 25 basis points instead of 50 basis points ---> $1240 windfall!
Dear Trader,
How's it going lately? Market is going for a roller coaster ride as various important news release comes into the market. The ECB announcement was at 7:45 EST and we can see the effect of this by the gap of Nasdaq 100 at the open at 9:30. There was a false move upwards in an attempt to cover the gap. In fact, it went beyond the gap to touch the moving averages and began sliding down again. The market is in a down turn now and it makes sense to short it. I shorted 1 contract at 1565 and another 2 at 1554, there was enough momentum and I placed my target quite far away at 1540. However, later as the price continued to fall, I shifted my profit target further to 1537. The trade was effortless. Within 2 hours, I won $1240.