Double bottom, supported by Moving averages , Stochastics up --> $240 profits
5 min Emini Nasdaq 100
Hi,
The market is still relatively flat.. If you know observe the moving averages, they are pretty flat.. this is not the ideal trading condition and I am pretty cautious about going into the market. However, towards the end of the market session, there was a chance...
Price formed a double bottom supported by the moving averages. Furthermore, stochastics rebounded sharply and cut the signal line. I immediately longed 1 contract at 1953 but got out when price showed that there wasnt enough momentum to cut the high formed from the morning session. I exited at 1965 with $240 profits.