BlueHatInvestor

Nasdaq 100 ETF (QQQ) ~ December 4H Swing

BATS:QQQ   Invesco QQQ Trust, Series 1
QQQ chart analysis/mapping.

QQQ ETF in consolidation phase after strong November rally.

Trading scenarios:
  • Further consolidation = descending trend-line (light blue) / multiple EMA confluence zone.
  • Continuation rally #1 = top range of Fib / ascending trend-line (green) confluence zone.
  • Shallow pullback #1 = 78.6% Fib / 200MA confluence zone.
  • Shallow pullback #2 = descending trend-line (white dotted)\
  • Deeper pullback #1 = gap fill / ascending trend-line (green) / Golden Pocket confluence zone.
  • Capitulation #1 = 50% Fib
  • Capitulation #2 = 38.2% Fib / gap fill / ascending trend-line (light blue) confluence zone.
  • Capitulation #3 = 23.6% Fib

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