1st trade --> Closed gap, upturn in stochastics,$940 profits & 2nd trade --> bounce off moving averages,$520 profits
5 min Nasdaq Emini 100
Hi,
How's it going lately? As you know, there's a spike in volatility. This is evidenced by the more volatile price movements in the market... But is it necessary a bad thing? I don't think so... Day traders like us thrives on volatility... :p
First Trade,
The first trade I executed was a long. This trade requires courage in an environment where price just keeps on gapping down.... But momentum was strong and there was an upturn of stochastics from the oversold region... I entered at 1718 at around 9:35 and another 2 lots at 1720... It went up all the way to 1742 before falling down... I sensed weakness and exited immediately at 1735... with profits of $940..
Second Trade
Notice how price always bounce off the Moving averages ( Black circles), unfortunately, I missed these trades.. but this alerted me to the weakness inherent in the price action and I managed to find chance to short a contract at 1726 at 15:30... I shorted another 2 contracts at 1721.... I exited at 1714 just before the closing bell with $520 profits...
total winnings = $1460.