Markets gapped up above the $115 resistance on some data and hit the gap resistance in early trading and sold off immediately. I was looking to go long and initially thought market was retracing for a move higher. I just could not pull the short trigger. Instead I took a short in AKAM. Markets moved down nicely and then QLD (Proshares Ultra QQQ) made a new high but there was a negative divergence in MACD when price made new lows but momentum made a higher low. It them formed a base. Went long with an initial target of PDL. Exited near the 50 EMA on the 15 min. chart. Scalped QLD a couple of times again for both long and short.
AKAM formed an inverse C&H. Entered short there. Covered partial at 50% FE and the remaining when it formed a bullish hammer.
Markets gapped up above the $115 resistance on some data and hit the gap resistance in early trading and sold off immediately. I was looking to go long and initially thought market was retracing for a move higher. I just could not pull the short trigger. Instead I took a short in AKAM. Markets moved down nicely and then QLD (Proshares Ultra QQQ) made a new high but there was a negative divergence in MACD when price made new lows but momentum made a higher low. It them formed a base. Went long with an initial target of PDL. Exited near the 50 EMA on the 15 min. chart. Scalped QLD a couple of times again for both long and short. 
AKAM formed an inverse C&H. Entered short there. Covered partial at 50% FE and the remaining when it formed a bullish hammer.
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