Retroactive Fib study on QQQ
True to form, large volume and hot markets tend to respect fibs on longer term time frames. If you look at the 2021 swing high and 2022 swing low, you will note the golden ratio (1.618 fib) was the most recent local top for QQQ. This is how I was able to call relatively close local tops on both NVDA and TSLA. This does not always pan out, but if youre in a leveraged trade these are logical end points.
-QQQ has already come back to my momentum trend line (teal)
-I expect higher in general from here maybe 525 before a long slow bleed all of next year
-QQQ has already come back to my momentum trend line (teal)
-I expect higher in general from here maybe 525 before a long slow bleed all of next year
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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.