Double bottom, Stochastics, MACD up --> $1060 profits
5 min Emini Nasdaq 100
Hi,
How is it going? Market gapped up only to close the gap and went beyond it... I missed the gap closure.. but I noticed that there was strong support at yesterday's low... price basically rebounded... but I did not trust the rebound...
however, at 10:40 price action appeared to be forming a double bottom and stochastics and Short-term MACD was forming the same pattern as well.. Also, I figured that price could not go down much further.. there was good risk/reward ratio.. and I longed 1 contract at 2022 with another 2 more contracts at 2030 after price pulled back a little.. I held my position all the way till 2045 when stochastics dropped from over overbought region and Short-term MACD cut the signal line... profits = $1060.