Double bottom Stochastics, Long -> profits of $160
5 mini Emini Nasdaq 100
Hi,
Price gapped up.. then it pulled down to the moving averages and rebounded from the moving averages.. This is accompanied by a double bottom pattern in Stochastics... I longed 1 contract at 1859.. However, you can see that the high formed by the morning session is the immediate resistance line... I did not like the price action almost as soon as I entered this trade.. It is too sluggish and all the candlesticks had short bodies..
Stochastics started to cut down and I immediately sold at 1867 with profits of $160.