QQQ Nas100 Nasdaq Double Bottom in Play
Nasdaq looks like it's trying to make a double bottom. The sellers we unable to push the price any lower than 10,650 and buyers stepped in and bought the dip, likely signaling the end of a short term down trend.
There was a retest today at the 11,168 levels of the neckline of the double bottom which seems to have held. This was a great entry. If the double bottom pattern plays out the target is ~11,700.
There was a retest today at the 11,168 levels of the neckline of the double bottom which seems to have held. This was a great entry. If the double bottom pattern plays out the target is ~11,700.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.