Closing of Gap, bounce of Moving Average, Iranian Tensions --> $665
5 minutes Emini Nasdaq 100 Candlestick
Hi,
The market gapped up this morning almost 9 points.. At 10:40 a.m. there is big red candlestick trying to close the gap.... I shorted 1 contract at 1792.5 .... It indeed closed the gap and even went further... price pulled up and touched the moving average and i shorted another 2 contracts at 1790.. the trade was smooth... price just keeps on going down... but at 12:00 I started to see signs of weakness and I was tempted to close my position... At 12:40, I finally exited my position at 1779.75 with profits of $665.
Notice that stochastics actually crossed over after I exited but price went down even more after I closed... What can I say? I can't pick the tops and bottoms and its good not be too greedy. It could've gone the other way too.