OptionsRising
Short

QQQ - time for puts, low risk with stops over 235, 237.47

NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
Today the gap was filled at the beginning of the "V" (at white line on left).
237.47 is highest price on left side of "V"
Usually inverted hammer candle after a run means a reversal is coming. If stock does open higher the next day there is a good chance of a sell-off.
Comment: By the end of the day the inverted hammer candle disappeared. I am going to hold onto the puts I opened today as long as my upper stop is not broken.

Comments

I am waiting for the pull back from last one month or so, but not happening, I am feeling that I missed, let us see if there is any pull back of more then one day.
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OptionsRising gowrigoli
@gowrigoli, Yes I was also biased towards a stronger pullback. Finally I decided to trade less and focus on my chart signals to try and remain objective.
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