Double bottom formation0, positive divergence, will the FED cut rates? $700 profits.
5 min Nasdaq 100
Hi,
Today's trade is easy...price formed a double bottom pattern and there was positive divergence with the stochastics and Short-term MACD...
Everyone's waiting to see if the FED will cut rate another 50 bps... But that's not really my concern... The double bottom and positive divergence is enough for me to go long...
I longed 1 contract at 1788 and another 2 more contracts at 1793... I only exited when price hit the moving averages and bounced back abit... I exited at $1803 with profits of $700.