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QQQ Gap fill play or rally to 380The Q's have had a beautiful breakout of this falling wedge, which is slowly becoming one of my favorite patterns to play, which we played on HUT, DOGE, RBLX, and AMC recently. I will make a video about that pattern soon. We have seen most tech stocks take off the last few days, which we can attribute to the whole tech industry (QQQ) in a small bull run here. I unfortunately did not catch this breakout move at the time, however, I will be waiting for the pullback down to the 368-370 area where we can hopefully find some support. I will be playing the Q's when they get back to the breakout level of around 370 and will be playing either side, with the idea of filling that gap at 360 or retesting resistance at 380, I believe it will be the gap fill play however. Problems: With that breakout, QQQ did leave a gap at 360, where we should have to fill before we can go any higher. RESISTANCE LEVELS: 380 = mental and previous level of resistance 382 = ATH Support levels: 370 = previous level of resistance, can hopefully find support there in the near term before going down and filling that gap at 360$ below 370, I think has to go down to at least 360 in order to fill that gap
NASDAQ:QQQ
by GRInvests
USDJPY💲Corrective reduction❗A breakout and confident fixation of the price outside the channel indicates an erroneous interpretation of the emerging wave situation. Probably, at the moment we have a large zigzag in which the wave is developing. The specified wave, as it should be, takes an impulse form. It is possible that the formation of the wave was completed earlier, which means that in the future we are expecting a correctional decline within the framework of the development of the wave. Potentially it looks very interesting, so it's worth trying to participate in this. Investment idea: sell 114.20, stop loss 114.40, take profit 113.00. Have a nice trade!
Short
by TradingAlchemist
3
BTC - Potential To Form Double Top Bitcoin looks like its going to attempt to retest the broken neckline of the head and shoulders pattern that it formed. The neckline is also located very near the trend resistance dating back to June. Today we saw a drop to the 0.236 fib level and a quick bounce back up. I would expect Bitcoin to continue to respect the fib levels, thus some key price points to look for are 53.8K - 51.3K - 49.2K - 47.2K - 44.3K. I dont know if Bitcoin will have enough steam to break above both the head and shoulders neckline as well as the long term trend resistance. If it does fail to break above those points but does at least reach them, then we would likely form a double top. If that is the case I would expect a drop to 51.3K at the minimum and 44.3K at the max. The Greed/Fear Index currently sits at extreme greed. It would make sense to squeeze out those who took late short positions before wrecking those who take long positions at resistance, but since this is Bitcoin we are talking about WHO KNOWS! For the moment I am going to sit on the sidelines and wait for BTC to show some signs of weakness near resistance before opening a short postion. Until then I will just sit back and enjoy the action! Thank you for viewing my post. If you like these kind of ideas - follow me for more!
by Nutty_Trader
BTC Dump coming?Hi guys, hope you are doing well. I'd like to discuss BINANCE:BTCUSDTPERP . I'll go straight to the point. Basically, people think this last pump that happened last week probably means a new ATH in some time... We trade what we see, and what I see is 2 legs to the upside on the 4h timeframe, distribution in the yellow box, a false breakout and now I'm expecting a dump. Will this dump be as huge as before? Who knows, I'll take profits in the previous high. Manage your risk and only trade with money you can lose! We don't want you homeless. #DYOR
Short
by chutireality
4
BLZ big resistance overheadBLZ got multiple resistance levels overhead, resistance trendline started in March, and looks like that price respects it (one bounce down since established), 200sma daily, and 0,28 level that was support and now acting as resistance. Now in this "small" falling wedge (bullish figure). SRSI is on the top and we have a chance to move down, retest 20sma, or that support found at 0.1855. If BLZ breakout above these resistance levels we could see a big move up so it's worth setting alarms for this one. Good luck traders
by PhilosophersStone
1
Gala bullishLooks like forming a falling wedge now. SRSI and RSI looks bullish on 1 and 2hr, MACD could turn up on 1hr, on 2hr still bearish looking, I was expecting that it will retest 200sma at least, on a bigger timeframe not so bullish, so this could be a short pull-back move only (scalp trade). Maybe just bearish retest of this WHITE trendline that used to be support, and now we broke down from it so it should act as resistance now. So if entering long, watch breakout level (yellow line) 20sma (blue line), resistance trendline of that new falling wedge, and that white trendline... All of them you should look at as resistance now. That is really a LOT of RESISTANCE LEVELS stacked near each other, so be careful... Good luck traders
by PhilosophersStone
1
MONEY: IN SMALL TRENDSIn my own methodology I've shown in other charts that, it doesn't matter which time frame you make your money. I even showed a 3 min trend on one occasion. All this true is trend-following - which is different to following a moving average of some sort. The ATR line reacts differently to price fluctuations. The important thing is to minimise losses. This chart is a 15 min time frame. It's of little value now because the start of the trend is where you want to be. But for the future I'm showing where the entry point is. Similar strategies can be used on other time frames. 1. See the trend breaking down and fighting to stay afloat. 2. See the double top on the 15 min time frame. 3. See price collapse. 4. See the rebound to 0.5% fib. Experience is required with all this. In this scenario the stop-loss could have been just above 0.618. That was an unlikely rebound in this particular scenario because price was struggling already. (In other scenarios where price isn't struggling as much I've seen retracements to 0.76 and above). Please note carefully: true trend following is a higher risk strategy but also an exceptionally higher reward strategy. It loses far more often than other strategies. But numbers of losses mean little. Why? It's the aggregate of the minority of big gains well outweighing minimised greater numbers of small losses. It certainly isn't for 'everybody'. In he captioned scenario, nobody knows how far that 15 min trend will go. NOBODY! For trend-followers in this scenario, the exit would be the amber line. In other words, the market shows the entry point and the exit point. That's very scary. See same strategy on the lowly 3 min time frame below Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
A
by Captain_Walker