Moving Averages sloping up, stochastics, MACD cut signal line, LONG -> $420 profits
5 min Emini Nasdaq 100
Hi,
The market is undecided and moves in short, unpredictable spurts... Take a look at the short bodies and long shadows of the candlesticks in the morning session..
Things turned out to be better in the afternoon session.. Price started to find support at the moving averages... at 14:00.. I started to look for signs to go long...
Notice the double bottom pattern formed by stochastics? at the same time, short-term MACD cut up the signal line and subsequently the zero line.. Price rebounded from the moving averages. This is a good risk/reward opportunity!!! I longed 1 contract at 1848 and only exited at 1869 towards the end of the market session. Profits of $420.