Price loses momentum, Stochastics, MACD down -> SHORT -> $880 profits
5 min Emini Nasdaq 100
Hi,
Price started out with strong momentum at the market open... It gave the false impression that market is going up and up.. I didn't believe that and was looking for a chance to short.
My chance came when stochastics and short-term MACD began to turn down. I shorted 1 contract at 1858 and another 2 more contracts at 1847... I exited only when price found support at the moving averages and bounced back.. Stochastics and short-term MACD also turned up and cut their signal line. profits of $880.