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

Thursday, May 3, 2012

NQ (QQQ) Wednesday Trade Setup

The market open below yesterday's open but recovered after an hour or so.

The bears run out of support and most participants revert to the bulls side and the market turn upside.

Shown is the 5-min. chart with the entry setup pointed in an arrow at the bottom.

Notice the big green candle with a long wick tail at the bottom showing the market is on the reverse mode.

Trade what you see as the saying goes.

Exit the trade before the close and enjoy your profit!