Stochastics, MACD, Moving averages, Double Bottom, --> 2 Trades --> $550 PLUS $480 = $1030 profits
5 min Nasdaq Emini 100 Candlesticks
Hi,
I executed 2 trades today, I shorted in the morning session and went long in the afternoon session. The afternoon trade was more beautiful. I missed the second leg of the movement for the morning trade.. well,, I am just happy that I am positive at the end of the day... opportunities abound.. :p
For the 1st trade, I observed a reversal at 9:55 with the stochastics starting to turn down from the overbought region.. I figured that if I shorted here and even if the trade went against me, my loss is minimized... I shorted 1 contract at 1856.... and another 2 contracts at 1853... the trade is basically set.... I simply wait for price to close the gap...
Well, at 10:20, there was a slight rebound,, and I didn't like the price action... furthermore, the short-term MACD did not penetrate the zero line decisively... I exited at 1846 at 10:30 with $550 profits for this trade. I did not wait for the price to close the gap... technically, there is still a half point gap, left unclosed at this moment... price action after that was ugly.. there's a huge pullback before it plunged down... I did not trade this leg of the downtrend...
The afternoon was pretty slow-paced action and I did not want to enter any low probability trade... I started to look at the market again at 14:00.... My chance finally came at 15:00 when price bounced off the moving averages and started to move upwards...I longed 1 contract at 1843 and another 2 contracts at 1845.... beautiful,,... price just went up and up with minimal hiccups along the way... I exited at the end at 1853.5 with $480 profits for this trade...
TOTAL PROFITS = $1030 Now, I can go and walk my dog with a peace of mind...