Gap closed, price rebound, Stochastics up and MACD up --> $120 profits
5 min Emini Nasdaq 100
Hi,
Today has been a sluggish day after yesterday's surge.. Price gapped up, but nonetheless, it slowly edged down to close the gap completely..
As usual, in my usual trade, I waited for the gap to close and observe if there are any rebounds... Price rebounded from the moving averages and Short-term MACD had already cut the signal line, stochastics was also up... I longed 1 contract at 2036...
I did not enter another contract as the price action was sluggish... I decided to observe... Price was indeed sluggish and I got out at 2042 when stochastics started to turn down... profits $120