MACD crossed zero line, bounce from Moving Average --> $690
5 min Nasdaq 100 Emini
The market has been plunging from the morning session and its reasonable to expect either a retracement or a continuation of the downtrend in the afternoon session. After a slight pullback, at 13:55, price started to bounce off the moving averages with the short-term MACD crossing the zero line....
I shorted 1 contract at 1794.25 and another 2 contracts at 1790 when the mid-term MACD crossed its moving average ( 3rd red circle)... Price plunged even further and I exited at 1780 as I felt price has fallen too far for the day... well,, profits of $690 is enough for the day...
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