Oil falls--> Market Rally --> $570 profits
5 min Emini Nasdaq 100
The market has been rallying for 3 days in a row... Today's no exception.... I did not enter the market in morning session... I was waiting for it to break the highs of the previous day and pullback before I enter...
Around 14:00, market momentum usually picks up and I decided to take a risk at 13:40 when price broke 1600 with a white candlestick. I entered 1 contract at 1600.5 and another 2 contracts at 1606.
Momentum was great after that and NQ just keep on going up... I did not set a price target and was prepared to exit on the first sign of weakness.. In such a market condition where you wouldn't know how far price will run,,, I don't set a price target... Finally at 15:10. after a few down candlesticks... I decided that I've earned enough and I squared my position at 1614 with a profits of $570.