The Q’s had a small gap up this morning then sold off for the next 15 minutes setting the low of the day by 9:45, then the market rallied triggering the daily buy in the Q’s at 66.74 and continued upward setting the mornings high by reversal time of 10:25 am. Price pulled back in until 11:00 and found minor support at 66.80 and then price proceeded to breakout to new highs confirming a new uptrend in the Q’s. Price set the high of the day at 2:30 pm and moved back down into minor support where the day closed at 66.88. My first trade came from my gap down list in BK which had a beautiful gap down clearing major support and looked really bearish this morning. I wanted to confirm the down trend since BK broke through it’s 5 minute high. Soon BK triggered it’s first sell setup which moved downward nicely, but it did not take out the low of the day. I decided I would take the 2nd triggered entry short which happened shortly after. After 4 minutes a doji style bar appeared on the 1 minute chart near the low of the day which gave me a clue that the selling is over for now. Once price moved above this bar I covered my short in BK with a small loss which now looking at the chart was the correct thing to do…
