Gap Closure plus bounce of moving average and MACD --> $660 profits
5 min Nasdaq 100 Candlestick Chart
Dear Trader,
This trade is a god sent. The technicals are so strong that it is literally yelling at you to short it. Firstly, price closed the gap and immediately bounced back. Secondly, it was also at the top of the bollinger band and moving averages, so it was natural for price to make a bounce (especially when the general trend is downwards). I shorted 1 contract at 1565 and another 2 contracts at 1559 ( which is the pull back). My profit target was at 1550 which is the low established by the price action in the earlier part of the market. This trade lasted for almost 2 hours and my profit target was automatically hit with $660 profits.