Possible Trade? Stochastics up + Bounce off Moving average.
5 min Emini Nasdaq 100
Hi,
The market has been ranging today... I was watching it for the whole morning.. It was ranging from 2050 to 2055... In my mind, I already half decided that this is no market to trade in and that the day is going to end up as a ranging day..
With hindsight, you might think that there is a possible trade ( highlight in orange ). But ask yourself.. is it worth the risk? Short-term MACD is so close to the zero line and price action is telling the same story too.. Stay on the sidelines if you are uncomfortable.. there is no reason to trade if the conditions are not right.. Furthermore, the market is not going to disappear tomorrow..
You are here for the long-haul.. Traders who survive the long-term make it big.. Be smart, don't trade when you don't have to.