Nice shakeout before a swift reversal that will start this week. Bullish here with target zone 450-457 by 4/26.
Buying this dip as we near the end of this corrective wave.
It looks like momentum is back and QQQ is getting ready to break out of the trading channel. Based on the COVID rally, I think we have a chance to add another 15%.
If you haven`t bought the dip on QQQ:
Then it's important to understand that it's currently exhibiting a double top formation, known as one of the most bearish chart patterns, along with a substantial bearish divergence. I foresee a retracement soon, possibly to $416, but I still expect it to finish the year on a positive note!
... for a 4.00 credit.
Comments: Starting to round out my Q3 rungs here on weakness and higher IV, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Looking at the chart of QQQ right now we are seeing some interesting price action on the lower timeframes. Thus a local move up seems to be quite likely.
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If you are a winning trader this is not for you . This is for the losers who want to be winners written by a former loser , who has become a winner as what is probably his last post .
I am just starting my trading journey ( 5 years in now but that's nothing) . I used to publish all my trades on TV which actually really helped me to follow my strategies and it...
This video breaks down how its ok to take a loss even when our plan does work out in the long run. We have to be able to maintain these good risk management habits even if we are eventually right. Because in the event we aren't right on the end we have a much heavier loss that's harder to recover from.
QQQ on the daily chart hit a hpivot high on 3/21 followed by a slight downtrend of 1-1.5 %
overall this past week. Buying volumes are low. The Price Momentum Oscillator has
reversed to bearish and the Raltive Trend Index has entered the chop zone and is heading
bearish. Price is presently one standard deviation above the intermediate-term anchored
VWAP....
Now, here it is, the correction in the NASDAQ and consequently in the QQQ - or is it? Currently, the bearish momentum is rising. However, as we know the index, it tends to shake off buyers and soon surge to new all-time highs. A look at the volume profile suggests that the bulls are not yet finished. The Value Area High of the uptrend since October 2023 has...
GENERAL MARKET REVIEW
The stock market kicked off the day on a high note, with stocks initially experiencing gaps upwards and a brief period of appreciation. Nonetheless, these early gains were short-lived, as the market faced significant downturns for the remainder of the session.
In today's trading, both the S&P-500 and Nasdaq indices have fallen through their...
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Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
Ah, the QQQ. Why's it up here? No one knows.
Looking at earnings : price ratio and adjusting for inflation, we are far overvalued. Sure, we can keep going, but odds say we need a pullback. Break 400, it could be decent. If we hold 400 and rebound to 408 surpassing that back into 410, be ready to close shorts dependent on your risk-tolerance.
MACD turning...
Going over the QQQ price action last few weeks and what we're seeing and how we're planning to trade the upcoming Price Action. CPI coming out this week and could be the catalyst for the breakout or breakdown.
After going on a nice rally QQQ is starting to show signs weakness in its price action and RSI.
QQQ price action for the first time in a while breaks below its upward trend and holds below for two straight trading days
RSI 20 has also been forming a bearish divergance pattern with it trending down while price has been climbing over the past month.
Key...
K1 is a bearish hangman pattern,
K2 verified it.
So, a potential double top or bearish flag pattern is on the way.
K3 is breaking the neck line of the potential double top pattern.
If it finally close below the neck line under sharply increased volume.
A motive wave may take the price to the uptrend line or 0.5-0.618fib area.
It seems similar to BTC.
