NQ breaks down futher --> $475 profits
5 mins chart
Hi, how's it going lately? I know the market can be difficult these few days as there is no obvious trend. However, if you are patient and wait for the appropiate signal before entering. You can still make money. Today, NQ 100 emini opened with upward momentum, but that momentum is short lived and it started to came down at 10:00 am. This simply suggests that there is more downward bias than upward momemtum and I was more inclined to short than go long.
At 10:30, price rebounded from the moving averages and I shorted 1 contract at 1567.75, at 1560, there was a slight pullback due to a support line and I was about to close the trade, but price showed weakness again and started downwards. I shorted another 2 contracts at 1560.5. Price then went down further and shot beyond 1555, I was about to close it when it went further and I decided to let it run. But, sadly,,, it rebounded with a white candlestick and I exited at 1555. The result is $475 in profits.