Quick Scalp in QLD

10/10/2008 11:42 am EST

Focus: STRATEGIES

Brian Shannon, CMT

President, AlphaTrends.net

Brian Shannon discusses a trade in the QQQ ETF (QLD) where he makes $600 in about five minutes. He discusses the time frame and chart he analyzed to find the trading opportunity, and also why cheering on the floor of the exchange was a small part of his overall decision to enter the trade. He then shows us how he decided to scale out half of the position, and then the final half, and what level he is looking for to possibly get back in at a point of resistance.

Brian Shannon
www.alphatrends.net
www.technicalanalysisbook.com

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