Again the 3 minute chart of the Dow showed weak price action and volume to confirming the lack of buying interest. The bonds breaking to new high’s so we took this long in the QID ETF. Entry was at 41.85. So far I have sold half and have the rest I target to 42.09 . This is a quick low risk scalp.
Categories: ETF · learning to trade · stock market ideas · trading the dow · ym
Tagged: ETF Trade, QID
Closiing the QID long for a small profit. Reason is that the index futures contract I am watching price action on is showing signs of strength, This and the fact that it’s lunchtime and we are going into the doldrums for the day give me enough reason to cut this position.
So far a pretty quiet morning price action wise. I will not take any more positions untill after lunch. I will take about an hour break. Will be back to check in a little later. Time for a cheeseburger.
Categories: learning to trade
Tagged: daytrading, doldrums, ETF positions, QID, trading the markets
