Yesterday i talked about 3 scenarios where one of them was we break below the double bottom support at 290 area for QQQ and bears have no follow through and we V shape.
Essentially its exactly what happened bears had a nice overnight drop and pre-market control, the moment market opened bulls took over filled the gap within the first 30minutes.
- Red flag for bears was when we re-tested that 290 support becoming resistance bears couldn't bring the price down to new low of the day, we hovered close to it and re-tested again and broke bull back above it. That's when shorts started covering here and we get a nice move up.
- looking for a 4H trend change to the bulls to have any meaningful bull follow through.
- still holding my TQQQ $21.57 entry.
Essentially its exactly what happened bears had a nice overnight drop and pre-market control, the moment market opened bulls took over filled the gap within the first 30minutes.
- Red flag for bears was when we re-tested that 290 support becoming resistance bears couldn't bring the price down to new low of the day, we hovered close to it and re-tested again and broke bull back above it. That's when shorts started covering here and we get a nice move up.
- looking for a 4H trend change to the bulls to have any meaningful bull follow through.
- still holding my TQQQ $21.57 entry.
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youtube.com/@arcadiatradings
1-1 Mentorship Information (Maximum Capacity = 10 Clients Per Year):
patreon.com/arcadiatrading
FREE 15 mins Intro Coaching Zoom Call:
calendly.com/arcadiatradings/intro
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
YouTube:
youtube.com/@arcadiatradings
1-1 Mentorship Information (Maximum Capacity = 10 Clients Per Year):
patreon.com/arcadiatrading
FREE 15 mins Intro Coaching Zoom Call:
calendly.com/arcadiatradings/intro
youtube.com/@arcadiatradings
1-1 Mentorship Information (Maximum Capacity = 10 Clients Per Year):
patreon.com/arcadiatrading
FREE 15 mins Intro Coaching Zoom Call:
calendly.com/arcadiatradings/intro
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.