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Market is still buillish! Oil falls further to $51.88, Hammer candlestick --> $480 profits

Nasdaq Emini 100 Candlestick

Hi,

Oil drops further and market reacted in a positive way... I was waiting for a chance to go long... my chance came at 10:40 am and there was a hammer candlestick.. following a bounce off the moving averages... This is accompanied by an upturn in stochastics... I went long 1 contract at 1848... and another 2 contracts at 1851.. my profit target is at 1858 which is the previous day high... a little bit of patience and my target was hit at 11:50... simple trade... no stress with $480 profits...

Posted by Michael Taylor on January 12, 2007 6:57 PM |

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