QQQ prediction for few months laterHelloo traders, here is my analysis for the triple Q chart and I believe it will continue growing steadily in the long run but it’s volatility will keep being higher than previous years as it was this year. I believe if the stock market doesn’t crash in the upcoming early 2022 crisis stocks will survive:)
Tripleq
A BEARISH BAT PATTERN FORMATION on the QQQ 1-HOUR chartHey all!
As you see in the chart, a BEARISH BAT Pattern has formed and overstrecthed to the point where it is close to invalidation. THIS TRADE IS DEFINITELY YOUR CALL IN TERMS OF RISK-TAKING. MY personal opinion is pattern is still valid and stretched to the point where it makes risk-to-reward ratio even better. Since the pattern is over-stretched, it is easier to put a tight stop-loss. Because price going higher means that the current trend is strong.
I don't see any problem if you have a tight stop loss. I marked profit taking levels. 0.382 retracement is right around the gap-up and 0.500 retracement is right around the gap. I think a gap fill is the most likely scenario. To be safe, you can take some profit at 0.382 and rest of it at the 0.5 level.
Have a great rest of the week!
QQQ Long14, 30 weekly setup on QQQ looking back at it.... chart...
For extra speculation, I added AMZN and noted it is 11% of the QQQ
If AMZN has cooled and moves back to ATH along with other tech strong names... we could see ATH on the Q
We filled lower gap levels, which indicates further launch incoming if buyers stay the course..
I think everybody wants to own strong tech leaders aka nobody really selling... QQQ is a winner imo
Enjoy... Know why you are trading what you are trading..
My play....
I traded the 231c on Friday 10 contracts from .79 to 1.50 and then I rolled into mid June19 calls...
Upper gap levels will get filled quickly, possibly on a Monday gap up.
Good luck..