QQQ I am stalking a bounce on the Q’s. From an intraday high (all time high) to an intraday low on this chart is about 6.2%. I would expect at least a dead cat bounce in the short term, but the market may not deliver for me. Having said that, I have an alert set on this 30-minute chart on the Downtrend line. “If” that triggers, I will go to a 5- or 10-minute chart to see if there is a good risk reward entry. And if I take the trade, it will be meant to be a day trade (of which I am not a fan) but it could turn to a swing trade “if” it gives me at least a 2% cushion.I know I have a lot of "ifs" on this one, but isn't that the way it is?
I had posted another chart on the
QQQ index with a link below. I had said in that one that a pullback to the 510 “area” would not negate the longer-term uptrend. But one must be open to all outcomes.
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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.