Closure of Gap --> $160 profits
5 min Emini Nasdaq 100
Hi,
The markets have been extremely volatile lately, I have not seen such volatility for a while now.. I would advise all traders who are new to this game, to stay out of the market for a while.. Just obseve how it moves.. Don't trade, more than likely you would get whipsawed out of your positions easily.
As Stochastics formed a double bottom and Short-term MACD cut up the zero line, I longed 1 contract at 1772 for a gap closure play... Yes, the gap did close but almost immediately, the next candle was a doji... this was bad signal for me, and I did not double up my position... I exited at 1780 with profits of $160.