Gapped down, stochastics down, bounced from moving averages -> short -> $180 profits
5 min Emini Nasdaq 100
Hi,
How is it going lately? Will the market continue in its uptrend? I don't know... but it sure seems that it needs some time and good news before it can surge up again...
Today's trade is simple.. Price gapped down, but quickly snapped up back to the moving averages... The moving averages formed resistance bands and price bounced
back down.. This was accompanied by stochastics cutting the signal line down... I shorted 1 contract at 1471 and exited at 1462 with profits of $180.