Stochastics up, MACD up, Closed gap --> $480 profits
5 min Emini Nasdaq 100
Hi,
I am back. I apologize for spending more time with my family for this christmas season than concentrating on trading and updating my site. Well, Merry Christmas to all of you!
Today's trade is not as easy as it seems.. Market gapped down and there was simply no direction during the morning session... I simple couldn't tell whether price was going to close the gap or not...
At around 12:00, Stochastics started to twitch up and price appeared to be closing the gap... but there was not enough signal for me to go long... Price could very well rebound from closing the gap...
I only longed 1 contract at 2150 when price exceeded the previous day's close with a strong white candle and I went long further 2 more contracts at 2153 when price exceeded the previous day's high..
I held my position all the way till 2160 when Stochastics and Short-term MACD made a sharp fall cutting the overbought line... I exited with profits of $480.