No Trade today.. Why? Read on....
5 min Emini Nasdaq 100
Hi,
You might think that I missed out on a long trade today... but I have my reasons on why not to trade...
1 Price action is sluggish... If you observed, there are alot of doji candlesticks with long whiskers.
2 Short-term MACD is rarely below the zero line. Hence although it cuts it signal line... it does not constitute a powerful cut. There is not enough momentum for it price to go up.
If you think that stochastics are signals good enough for you to go long, then you are wrong. We use an arsenal of technical indicators to make a decision. Never use an indicator in isolation.