Market Rally continues, Stochastics Upturn -->$620 profits
5 mins Nasdaq 100 Emini candlesticks
Daily Nasdaq 100 Emini candlesticks
Hi,
How's it going? The market rally from yesterday continued. If you look at the Daily charts, you will notice that the uptrend is not broken yet. This is a good market to go long instead of short. In the 5 minutes chart, price opened strongly and was trending upwards..... Stochastics also crossed the oversold line, I decided to wait for more confirmation before entering. Finally, at 9:55, I longed 1 contract at 1743.5 and another 2 at 1747.5...
I did not set a profit target as the price action tells me that there is sufficient momentum and price can just zoom forward..... However after the first red candlestick appeared... I started to feel weak about the whole structure and exited at 1756.5 at 10:25 am..... A profit of $620 for only 30 minutes of work...