QQQ
It never gets old…..the trend is your friend. Trade with the trend.
QQQ saw the continuation of its uptrend start Apr.’20 when it closed and stayed above the 200 ema
The uptrend started Apr.’20 came to an end Jan.’22 when closed it closed below the 200 ema
During the uptrend we saw the following:
2 price consolidations that made higher lows and broke out and continued uptrend.
1 price consolidation that traded sideways that broke down and ended the uptrend.
Over-sold stochastic was our entry to go long.
Stochastic stayed “over-bought” for long periods of time.
During “over-bought” conditions, MACD stayed above 0 in bullish territory.
The 3rd consolidation in the uptrend saw price top out at all-time highs of around 403.
Price traded between 379 – 403 before it broke down from this range and closed below close below 200ema. This ended the uptrend.
Price fell to 340 where it bounced back to 200ema and was rejected and fell to 320 making a lower low.
During that time, we also had a death cross when the 50ema cross below the 200 ema. This further signaled the bearing conditions in the market.
Currently, QQQ is below the 200 ema and has now made a series of lower lows.
Price finds itself at the 50ema. If price rejects 50 ema, it will go on to make a lower high and we would officially be in a downtrend.
The stochastic is currently completely “over-bought”, MACD is below 0 in bearish territory, and price is under 200ema(downtrend). This looks to be the 1st entry to enter trade short in start of downtrend.
Entering trade short
Entry: 351
Stop Loss: 373
Target:
Short term- 300- +14.53, 2.32RR ratio
Long term- Trail 200ema
It never gets old…..the trend is your friend. Trade with the trend.
QQQ saw the continuation of its uptrend start Apr.’20 when it closed and stayed above the 200 ema
The uptrend started Apr.’20 came to an end Jan.’22 when closed it closed below the 200 ema
During the uptrend we saw the following:
2 price consolidations that made higher lows and broke out and continued uptrend.
1 price consolidation that traded sideways that broke down and ended the uptrend.
Over-sold stochastic was our entry to go long.
Stochastic stayed “over-bought” for long periods of time.
During “over-bought” conditions, MACD stayed above 0 in bullish territory.
The 3rd consolidation in the uptrend saw price top out at all-time highs of around 403.
Price traded between 379 – 403 before it broke down from this range and closed below close below 200ema. This ended the uptrend.
Price fell to 340 where it bounced back to 200ema and was rejected and fell to 320 making a lower low.
During that time, we also had a death cross when the 50ema cross below the 200 ema. This further signaled the bearing conditions in the market.
Currently, QQQ is below the 200 ema and has now made a series of lower lows.
Price finds itself at the 50ema. If price rejects 50 ema, it will go on to make a lower high and we would officially be in a downtrend.
The stochastic is currently completely “over-bought”, MACD is below 0 in bearish territory, and price is under 200ema(downtrend). This looks to be the 1st entry to enter trade short in start of downtrend.
Entering trade short
Entry: 351
Stop Loss: 373
Target:
Short term- 300- +14.53, 2.32RR ratio
Long term- Trail 200ema
Trade attivo
Trade chiuso: obiettivo raggiunto
Exit: 300- +14.53, 2.32RR ratio
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.
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.