Friday, November 20, 2009

SDS scalp this morning

I'm pretty sure I did this wrong, but I got lucky for a small scalp. Using the 5-min chart at the open, we opened weak (strong on the SDS), so I waited for it to come back to support-- in this case the 20-bar EMA.

Once it hit that trigger, I waited for the buy entry at the previous swing high (36.92) to buy. The target for sell is resistance, in this case yesterday's HOD 37.10.

Sell-stop was previous bar's low and target sell was 37.08 to take profits. It worked for a 16 cent scalp.

1 comment: