Quiet Market, Are we near the TOP? Technical Play --> $160 profits
5 min Emini Nasdaq 100
The market has been flat for the past few days.... It is completely understandable if you did not find a trade. I'd rather stay out than have to trade against the tide...
Today's trade is nothing fantastic... just a pure play of momentum and support... The prices were consolidating and finding support at the moving averages and you can see Stochastic moving up, plus short-term MACD cutting its signal line...
so we can really limit the downside risk... the I entered 1 contract at 1906 and my stop loss was at 1903.5... very tight.. I was not prepared to stomach as loss if it broke down the moving averages again.. to me, these moving averages served as the ultimate support lines in this trade... Price did surge up without any pullback or pause and that did not allow me a chance to enter the market a second time.... I exited at 1914 when a red candlestick appeared.... with profits of $160... Not bad for a flat market...