Gap Closure Plus Up turn in stochastics --> $340 in 40 minutes
5 min Nasdaq Emini 100
Hi,
Almost all markets throughout the world went up. Is this the santa clause rally? I don't know. But I sure know that the US markets is in a state of indecisiveness. Everyone's waiting for this friday's non-farm payroll report.. Until then, I dont expect to see any big movements...
Today's play is simple,, gap closure,,, We can see that the moving averages are flat.. suggesting consolidation.. there is not really a trend here in the 5 minutes chart. but if you look at the daily chart, the uptrend is not broken yet...
I longed 1 contract at 1800 at 12:20... and another 2 contracts at 1802 at 12:45 when price crossed over the moving averages.... My target was naturally yesterday's close at 1807... Notice I have circled the upturn in stochastics... this is another evidence that price is moving up... My profit target was hit at 13:00 and I am out at $340...