No trade today.. Why? Read on...
5 min Emini Nasdaq 100
Hi,
The reason is pretty obvious... Moving averages are sloping down.. This means that we should be looking at shorting rather than going long..
In order to do that, we have to look for stochastics and Short-term MACD cutting down from the overbought line..There were several cases of this happening, but candlesticks were not really pressed against my longest moving averages when this happened. What this means is that we don't have a good risk/reward.. Don't risk your money in such market conditions... Save your bullets for any day..