Long

Updated

this is big (TQQQ)

i see a full recovery if broader market bulls can continue this turn around. should we find ourselves in a position where melt up is taking place, i think we have no choice but to go with that. the daily picture is shaping up in bulls favor, but the smart thing to do is wait for confirmation of the trend change.

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this is april 2020:

we crossed bull and never saw that price again
will we get that same bull break here?

i think yes but only time will tell

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qqe just longed this minute coming off of oversold bullish divergence

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56.20 and 55.58 are past bastion levels before 52.81
i would hold sqqq as a hedge but hang on to the tqqq and take all profit from hedge back over to long tqqq if we start to close hourly below these levels.
im still bullish on broader markets weekly timeframe

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this is playing out a lot more like april 2021 so i bet it takes at least another week, but we still get the bull break:

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i would start to close sqqq here

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i would close all sqqq here, but dont add it back to tqqq until we return to an uptrend hourly and qqe signals strategy puts in a long entry

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very dangerous shift in the downturn of vwma/rsi

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the only thing thats going to save us is an immediate turn around. again buying a confirmed cross of that offset vwma is the key. vwma heading down sharply is not what broader market longs want.

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ive marked out areas of potential support that could form lower lows if we start to drop next week.
there are double layers right under 47 and just beneath 42.

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I've given the vwma a big length and offset one day fewer. What that's going to do is make it a lot tougher to curl up, and make the move less deceptive while taking 1 day fewer to cross. I still see that there could be both a bullish a definitely bearish case, but my bias remains contrarian long provided that some lower timeframe intradayis breaking the daily downtrend. We need to change the daily trend and cross above a similar average to be bullish.

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