QQQ Short Setup
I have this setup as a short, but really it could go either way. The 10-day RSI peaked on November 8, setting up a negative divergence when QQQ peaked on November 28. This was followed by a period of increasing volatility, as QQQ traded between support at $152.00 and resistance at $155.50. These areas provide a great trigger for a trade in either direction, with a corresponding risk management stop in the area of the other support line (e.g. short at $151.75 with a stop at $155.75).
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