Gapped up, hit moving averages and rebounded down --> Short --> $160 profits
5 min Emini Nasdaq 100
Hi,
Price gapped today and it continued going up with some momentum within the first 30 minute. But as soon as it hits my moving upper moving averages, it started to rebound, I shorted 1 contract at 1948. this was followed by stochastics and short-term MACD moving down. But I exited at 1940 when price failed to continue closing the gap. I would have shorted another 2 more contracts should price move pass the opening price. It is quite obvious the market is still in a state of uncertainty and there is no clear trend at all. Profits of $160.