Another 18 Points on Nasdaq Futures Contract - Short this Time

As anticipated in the previous video, the Nasdaq futures contract reached up to the congestion dot with the Stochastics being overbought. This upward reach coincided with a small double top formation on the five-minute chart with a bearish bar developing. I waited until the low of the prior bar was exceeded before entering to ensure that the market would likely come down.


The short trade resulted in a gain of 18 points as price began to hesitate at the five-minute ATR. Better to lock in the profits versus watching the test of the fast moving average complete.


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