Nasdaq reaching new highs again? Long --> $580 profits
Emini Nasdaq 100
Hi,
How's it going lately? We are in an uncertain stage right now... For long term investors, it's better to stay out of the market completely. For traders like us, be extra cautious and try not to have pre-conceived notions about the direction of the market. Although the technicals suggests that market might be topping out soon.. Markets are designed to surprise the least expected... Be prepared..
The whole morning was characterised by ranging movements and I held my horses... simply waiting for a chance to enter...
My chance came late in the trading day at around 15:00... Stochastics started to turn up and price momentum looked good... Also it is characteristic of price to make a rebound at this timing... I longed 1 contract at 1995 .. My stop loss was at 1992, quite tight..
Price went my way and pierced through all the moving averages and on the way up, I added another 2 contracts at 2000 and exited finally at 2008 with profits of $580..