$880 in less than 60 minutes -- Highly Volatile Market.
5 mins Nasdaq 100 Candlestick Chart
Hi,
The market actual plunged down by 4 points during the open. But when it hit the moving averages and started to bounce, I know my chance had come. I went long 1 contract at 1493 and when it shot pass the high established during market open, I went long another 2 contracts at 1497, my profit target was at 1500. Price momentum was fantastic and I shifted my profit target later to 1502. This trade made me $380.
The next trade was the pullback of this current trade. I didn't expect price to shoot all the way up in a vertical manner. Sooner or later it had to come down, When price hit 1504, it started to show signs of weakness and as expected, a red candlestick formed as a result. Shorting when the trend is up is an advanced level technique and requires more observation. I did not go short immediately after the red candle appeared. When price shot pass 1501, I knew it was going down and I shorted 1 contract at 1500 and another 2 at 1497.5. My profit target was at 1490. The trade closed perfectly with $500 profits. Total profits = $880.