'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Monday, May 21, 2012

Monday's Trade Setup for NQ (QQQ)

The market bounce after lingering (from sickbed) for almost two weeks.

Shown is the 1-min chart from the Nasdaq QQQ where the best entry is from the pullback (arrow) after the open.

And let it ride, adjust the trailing till run out of gas.

Enjoy the uptrend, possibly till the close!