Here are 3 confirmations:
1. $TQQQ shows double top
2. RSI indicates bearish divergence.
3. $VIX chart indicates double bottom, indicating volatility in next few sessions.
We can expect a pullback from here.
What is everyone's thoughts on picking up shares in TQQQ when it dips past 20% seems to happen roughly 2-4 times a year. And then holding till it goes up only 20%. Then wait for a dip to do so again. If you did so everything it dipped it seemed to always get back up there. If not a couple weeks time to a couple month time.
As per the TQQQ strat mentioned on prior ideas , today we closed with a solid entry signal and I entered long in the final 10 minutes of the day at:
Stop at 127.77
Initial profit target set at 2R or $144.36.
//////// Strategy Note/Loophole to reduce risk ////////////
For this strategy , I take signals only on the close or within final 10...
As my previous idea states I am going to share my re-entry on the TQQQ strat this time .
There is some signs of bullish price action here and looks like we might pull off a wedge pop here soon . A wedge pop is when the price pulls back above the 10/21 ema's .
Personally the entry will be when the price closes above the TQQQ stop will be vs the low of that...
Cutting the last of TQQQ loose for today @ 161 x 2.5
Solid ride, more to come.
Hopefully, an RT to SELL again, if Not we Hold what
we have as we Position into Underlying NQ ES VX.
Reducing Instruments to 3.
84.78% CASH - Patiently waiting to see if Weeks 50% Trades
Looks like we are at an inflection point, if the shaded area does not hold we are looking at the start of a significant bearish period. If it holds this level it could easily revert back to the bullish trend again. We are short, but we will let price dictate our next moves. Gaps below which would support a bearish position as well. Not financial advice.
Analysis based on long term trend lines and forming wedge. Moving averages starting to curl downward. Daily RSI is very high. Bought Put 11/5 dated 11/19 for $157.00. $2. No stop loss.
In hindsight, it would probably be more advantageous to purchase a longer-dated put such as 1-month out, December 10th, and raised the price target close to the current share price,...
Elliot and repeating patterns show we may be due for a dip in TQQQ before we start the next 5 part rise.
18 month analysis of trying to trade the patterns shows I'm better off just buying and holding. +11% trading actively vs. +34% buy and hold, but have to be ready for coming short term dips
We can see Price is having difficulty regaining the Trendline.
Our Sells are Laddered inversely to the Prior ATH.
INV Sell Ladder:
150.50 x 5K
151 x 1K
152 x 2K
1.5K of 5K Positioned.
HODL until 11/04 - 11/21 for resolution.
Discovered an extremely simply but promising Trade Idea looking at TQQQ. Currently working on a visual back test as time allows and looking for collaboration. Also putting together some automation in TradeStation. I've broken down October by the P/L and trade count (below), and have just the trade count going back to 1/1/2021 (will add later). Bad with math. ...
Based on Current Trend , there is opportunity to take position in TQQQ ETF .
First Buy Position : 104 to 108 , Second Buy Position : 94 to 98 .
As a conservative investor , we should try to take entry between 94 to 98 band .
Note : This video is for educational purpose only