Emini Closes 7 point Gap and Rebounded -> $420 profits
5 minutes Emini Candlestick Chart
Hi, how's your trading?
Emini Nasdaq 100 opened with a 7 point gap today. I did make some money (around $100 bucks) by playing the gap closure. But this is not recommended to beginners as Emini still has an upward trending bias. Hence, I am not going to discuss how I made this trade. Instead, I am going to show you how I made even more money and by taking less risk on my second trade.
At 10:00 am. there was the ISM index news release but market did not react much to the news and Nasdaq emini continued to close the gap. I waited for the gap to close and a clear sign that a rebound was in place. At 10:25, there was a 2 point candlestick up and that was my signal to go long at 1588, there was a slight pullback, but it rebounded again at 10:45 and I longed another 2 contracts at 1589. My stop loss was at 1586, pretty tight because I didn't want to lose much if the trade was not making money. My profit target was at 1596, slightly below the opening price. Now my trade was set and all I did was to wait for price to move in my favor or hit my stop loss. I wasn't going to change my mind unless something drastic happens. Finally at 13:00, my profit target was hit with $420 profits. This was a pretty long trade which took 4 hours and required alot of patience and confidence in my judgement.