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Double top --> Short --> $1840 profits

5 min Emini Nasdaq 100

Hi,

Today's trade is a little different from the usual trades that I make... I had to wait till the afternoon session before seeing an opportunity.. Price formed a double top and broke the support line established by the morning session. Notice that this is accompained by the long-term MACD cutting the signal line.. I shorted 1 contract at 2024 and another 2 more contracts at 2019... I held my position all the way till the end and exited at 1990 with profits of $1840.

Posted by Michael Taylor on November 12, 2007 5:49 PM |

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