Fannie Freddie did not save the market! -> Short -> $340 profits
5 min Emini Nasdaq 100
Price started out flat...ranging with no obvious trend.. use the moving averages as your guide... it is flat and not sloping in any direction... It is shouting to us "STAY OUT! "
At around 1320, Stochastics started to turn down and price was reflecting away from the moving averages...This is a good time for me to go short.. I shorted 1 contract at 1755..
Risk / reward is good...My stop loss was at 1760.. I wasn't prepared to risk too much on this trade..
Short-term MACD followed stochastics to cut the zero line...I exited at 1738 with profits of $340.