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OptionsRising
Jun 2, 2020 7:11 PM

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

Invesco QQQ Trust, Series 1NASDAQ

Description

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
gowrigoli
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.
OptionsRising
@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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