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Stochastic up, moving average rebound, MACD up --> $400 profits.

5 min Emini Nasdaq 100

Hi,

How's it going lately? Market gapped up today and there were some erractic movements that don't comply to my signals.. prices were moving down when stochastic was moving up and vice versa...

Seriously, I can't really tell where the market is going in such a scenario.. What's the best thing to do? Stay on the sidelines.. better not to earn anything than lose money..

I had to wait all the way till 12:00 until price showed some rebound from the moving averages.. and stochastic started to move up.. I longed 1 contract at 1897 and another 2 contracts at 1898.5... Short-term MACD also moved up and Mid-term MACD crossed the signal line too.. I hold my trade all the way till 1904 where I exited after some weakness in price action and a red candlestick appeared.. --> $400 profits.

Posted by Michael Taylor on May 18, 2007 5:48 PM |

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