Market Shows Weakest --> Sharp Downturn --> $880 profits
5 min Emini Nasdaq 100
Hi,
How's it going? Market gapped down today.. and it went ahead to cover the gap and beyond... I did not participate in this gap closure.. as you can see, the Short -Term MACD is very near the zero-line which is a taboo for entering... although stochastics looks symmetrical, I just didn't feel comfortable with the trade...
Instead, I waited till 14:00.. when price reached a top. and when stochastics started to plunge down... I shorted 1 contract at 1937.5 and another 2 contracts at 1928.. This is a safe entry as it is obvious that the moving averages are acting like a sort of upper resistance to the price movements... I stayed in my position all the way till short-term MACD showed signs of turning up and I exited at 1916.5 with profits of $880.