Price pierce moving averages desicively --> Short --> $400 profits.
5 Minutes Emini Nasdaq 100 CandleStick Chart.
The markets have been extremely difficult recently and I have warned traders to be extra careful when trading in such an environment. There was strong upward movement at the opening bell, but I was sure whether this was going to continue. I decided to wait for a more decisive signal. The signal came at 13:15 when price moved down in a big red candlestick after piercing all my moving averages. I immediately shorted 1 contract at 1570 and another 2 at 1568 at the slight pullback. My profit target is set at 1562, the support established by previous day's low. At 13:40. my profit target was hit and I am out with $400. Not bad for half an hour's worth of trading. But remember you need to be patient and wait for the right timing, or else, you might be making impulsive money losing trades in this market environment.