QQQ reacting nicely to the Channel.
I'm short term bearish on this. I think it needs a 2%-3% pullback before it breaks out for good.
Since the 1.618 fib is right there, and the wick for Friday's (1/17/2025) candle was rather bullish, I could see a fake breakout to the fib and then break back down into the channel.
I also have a long position set up just incase this breaks out and keeps running.
KEY:
-White Horizonal Lines: Previous High/Low, regardless of timeframe.
-Green Horizontal Lines: 1.618 fib level.
-Blue trendline: Trendline.
I'm short term bearish on this. I think it needs a 2%-3% pullback before it breaks out for good.
Since the 1.618 fib is right there, and the wick for Friday's (1/17/2025) candle was rather bullish, I could see a fake breakout to the fib and then break back down into the channel.
I also have a long position set up just incase this breaks out and keeps running.
KEY:
-White Horizonal Lines: Previous High/Low, regardless of timeframe.
-Green Horizontal Lines: 1.618 fib level.
-Blue trendline: Trendline.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.