were off the lows for the session in the nasdaq, nq1!, and ndx, and creating a slightly higher low than yesterday. we have retested sss moving average, and nearly crossed signal to the upside. if we fall beneath pivot i would look toward sss supply area, and lower horizontals. if we stay above pivot and TRAMA i would look for upper horizontals.
Well, some would call me crazy. But that's my long term view:
TQQQ made 200x since inception in February 2010 until his top in November 2021.
Now, in my opinion, we are in the middle of a Bear Market.
My expectation is that this Bear Market will last till December 22 until June 23.
After that the next Bull market should start.
My expectation for the Nasdaq...
Everything to met on elliots wave for the last leg up, i think we will see the very least a retracement back to the 38% fib level, but keep a close eye for the next wave to develop to the downside, good luck traders
Hey guys i am new to Elliot's wave theory so please critique my TA, so bearish divergence on hourly chart with low volume on 4 hour chart. Also looks like a rising wedge being formed. I don't think we can see higher highs until something changes on inflation, economic growth, china and ukraine www.tradingview.com
this ideais simple. if we hold $20, we will break above $56.89 closing the gap left over from april 4th. what could be better? the doomsayers and prognosticators are all pointing toward recession, but where do you see the pain? its all in the past, and the worst may be behind us. only time will tell, but if this face ripper of a rally continues, bears will be...
there are a couple scenarios for the critical resistance weve just about come up to on the l nasdaq. i think were above pivot, and where we start out friday will define next weeks activity. if we hit that resistance sss moving average, and we fall beneath the pivot forming bearish divergence daily rsi i think were headed for daily consolidation. if we breech that...
weve hit overbought on the hourly, and nasdaq has consolidated above a pivot point marked out by the lower end of that early june range from the last rally. if we break down below that pivot i would look to bounce on one of the lower horizontals as support, and if we stay above that pivot i would target those upper horizontals until were overbought on the daily.
the nasdaq 100 is showing that it can reach for the highs, and is on the verge of breaking out above major resistance to levels not seen since early june. continuation seems likely, and i have critical levels of support and resistance marked out as horizontal lines where it may pause, or bounce. sss is green and qqe is long. if we get over one of these lines i...
Long term it looks great. With the addition of Elliot wave patterns, even in the short term it looks promising. We have witnessed the bottom already. Time to restock on the juicy TQQQ.
Back in at end of day after getting stopped last one .
30.89 in
Stop 27.83
Pt 1 - 33.95, sell 1/6 , raise stop to half risk
Pt 2 - 37.02 , sell 1/6 , run balance
sss signal has gone back to red kn the hourly, and if we loose mid 28s were probably headed for mid 26s. if we regain the uptrend holding mid 28s and closing over low 29s id imagine we will revisit those premarket highs hitting 30 soon.
Two Ways I want to play this move if it happens
1) I expect until Wednesday 7/27 that we are going to remain balanced between roughly 27 to 32
IF we get that clean break to the upside hard and fast (giggity) then I want to be looking to play that 35 to 36 rejection short. I am likely to swing this move, maybe day trade! but I will have to see what its looking...
Since this short reversal I set up a breakout to the next trend level up. I set an additional correction at the top range to retest the new point of control. Seeing how this plays out. Enjoy
This is a slower account that I am using a portion of my TFSA for , the backtest method is to sell 1/3rd at 2R but I am changing this to get more proactive on taking profits , this is its second trade of 2022 and my first trade was a loser but honestly should not have been . The stop was too far imo and I still had a 2R de-risk point .
So , I am doing something...
End of day entry on same price action but only much smaller size than earlier attempt
*took out prior two lower highs and 50 sma takeback
Entry - 28.49
Stop - 26.59
PT1 - sell 1/4 at 1R , raise stop to half risk
PT2 - sell 1/4 at 2R
then trend follow balance and add when applicable
Risk to account 0.5%
NASDAQ
