This chart continues to perform. Trading the Diamond is a skill I am working on. need the back test.
these triangles can result in downside pressure. The Monthly UBB was ignored yesterday, we will see if it continues.
Good Morning, yesterday's rally fueled by TSLA's split has cooled off the downside pressure. Going to watch the open and the volume.
Built from Today's High to Low - another view of the golden ratio for tomorrow. TSLA on watch with the split.
I would anticipate strong support off the top of the this green channel if we make it down that far.
time to set another lower channel. This is starting to set-up for a great bull move. Will be patient as see potential for more downside. re QQQ monthly UBB detached. Once that resolves, I will be looking for upside before the 4/1 split..
wicked the back test of the Diamond Channel on the 5 min
The Monthly UBB continues to fall away and is at 261.70. This will continue to push the target to the 260 range. Added a Green cross-bar, a .5 channel embedded with-in the lower .5 channel of the larger diamond. Some nice penny wicks offering support for the retracement. The diamond continues to offer back tests and that is what I will be looking for. QQQ...
I set and alert for the lower diamond channel boundary. Looking for a backtest and waterfall to 262.5 some time this week. Then a bounce and build a short term long position (barring any substantial negative news)
A loss of this level and I am looking for QQQ to resolve it's monthly candle and check in the with the UBB (262-263)
volume today was very low...I continue to look for the Monthly candle, extended outside it's UBB to resolve to the downside.
had a great entry, left some on the table with puts..green days are good.
the new pink channel and the addition of the lower yellow channel both provided intel today.