Technical Uptrend in Tact --> $720 Profits
5 Minutes Emini Nasdaq 100 CandleStick Chart
Hi,
How's your trading lately? The uptrend is still in tact.. alot of people tell me to expect a market correction and that market is overbought.. Well, I only believe what the charts tell me.... there is no technical indication that the uptrend is coming to an end.
Market opened with a huge white candlestick that immediately went over yesterday's high.... this is a strong indication that the bulls are in power. I longed one contract at 1760 at 9:35 am. There was a slight correction at 9:45 am. and I went long 2 more contracts at 1763...
My stop loss was at 1756. I didn't put a profit target since momemtum was high and there is potential for a major move...Finally at 10:05 am. there was a slight pause and sign that market is running out of steam... I exited my position with a profit of $720.