Short QQQ if price breaks below 335

QQQ is in channel..if it breaks, I will act accordingly.

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This publish is not an investment advice. I am not an investment advisor. So, you are solely responsible for your actions on your money.


How did you break up the RSI in different levels
Do you see a potential for a false breakout above the Distribution range's upper boundary/
@Trendsharks, Good question. I just use the price action to confirm it is a false breakout. Basically if price comes back into the channel after breakout, I use trade management(risk + position sizing + adjustments using options) to manage the trade in an agile manner(Fail-fast strategy). Direct answer is I have no idea whether the market is going to do a false breakout.

BTW, I checked your website. You have got wealth of information in your website. Excellent.
+1 Reply
Trendsharks optionscalendarhawk
@optionscalendarhawk, Thank you so much. We really appreciate your feedback. We post new trading material, including ideas and news, all the time, so we really hope you find value on our website :)

As regards the threat of false breakouts and breakdowns, indeed, one can never know for sure whether a breakout is going to be a false one or not. That is why we advise using floating stop orders in order to bag the most out of any directional swing, even if it turns back.
Hi, l see you are using the RSI that l have created, hope you like it and it help. cheers
@rescue hi, I am interested to know more about your RSI indicator. Why did you choose to modify the built-in version?
rescue nicholasbdurham
@nicholasbdurham, https://www.youtube.com/watch?v=3eDsbQwMULg made it after l watched that video.
@rescue Thanks so much for the indicator. It makes RSI more meaningful..
rescue optionscalendarhawk
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