Windfall of $1370 - MACD crosses zero line in 3 time frames!
5 Minutes Nasdaq 100 Emini Candlestick Chart
Hi,
Today is a big day. Price really moved. How can I be so sure that it is really moving up? One very clear signal is that MACD in all 3 time frames moved in unison to cross the zero line. Nothing can be more powerful than that. I longed 1 contract at 1578 and another 2 at 1584 with my profit target at 1600.. Price action began to weaken before it hit 1600 and I took profits at 1596.5. That is still a whopping $1370 for me in less than 3 hours of work.
Comments
Very Nice trade. The first entry signal is very strong, as you stated. To me, the second entry point is not as clear. How did you determine your second entry point?
John
Posted by: John | June 21, 2006 11:21 PM
Technically speaking, you can see price diverging from the moving averages and MACD keeps on moving up. Furthermore, price action was very strong. All these indicated that the trend has potential to go much further. I waited until there is a slight pullback before the next entry.( This will be obvious if you look at the 1 minute Candlesticks).
Posted by: Michael Taylor | June 22, 2006 6:31 AM