play4trade
Short

$QQQ 1Hour Chart. Have trading plan & levels READY

NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
102 2 2
We can easily see distribution occurring. I have out lined important levels. Big Picture on Daily/Weekly/Monthly is MEGA BULLISH (even more than SPY             if you can believe that). But we are approaching SERIOUS resistance at the 2000 levels. After we break out of 100... 115 will come, but it will be a slower rally as that will see a MAJOR rejection. BIG MONTHLY levels that and resistance there. We can still go higher than that, but we need to be aware of what we are approaching, so LOOK LEFT!.
I really like this chart. Five days later and its still right. Nice one. Do you you use Fibonacci levels for your support level?
+1 Reply
play4trade Michael Huang
Thank you. No sir
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