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.
Reimplementing what Kyle described in his video at www.youtube.com . Results are quite good in backtesting, beating TQQQ every year in the last 10 years.
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
into Friday.
Then this is your time to buy. In the next several years you might be at break even. In the meantime, it's a good time to look to exit your position and go short or sit on the side.
Covered short now going long when price crossed upper ATR ( blue ) band, following green line upward. Go short when GREEN line turns RED or when price crosses lower ATR band. Not financial advice
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:
Entry $132.91
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...
The TQQQ has been unstoppable for months. But for the past month it has been trying to bust through these resistance levels between 171 and 173 and when it did go through it failed. Except a correction to the TQQQ soon.
The TQQQ is bearish with the MACD crossing and the price percentage oscillator showing a bearish trend.
I am going to be waiting to see what...
We are due for a correction. The TQQQ is overbought and the MACD has crossed showing an interment correction coming.
The TQQQ has hit the trend line for march 2021 and reversed. i believe we go to the lower trend line which is support since November 20 2020. I dont see any other support once this juggernaut breaks down.
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,...
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.
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:
149 x.5K
149.50 x.5K
149,75 x.5K
150.50 x 5K
151 x 1K
152 x 2K
1.5K of 5K Positioned.
Stop 155.88
HODL until 11/04 - 11/21 for resolution.
At 3X this levered beast falls apart when it's ready.
152.88 to 116.47 was a Fantastic Trade.
We believe there is more to come and are patiently awaiting our Large Fills
above.
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. ...
NASDAQ
