QQQ Wave 3 of C min 423So good morning all .The spiral turn event 7/11/7/18 turn asi said could be my second pinned tweet . back in late june post . But what next is why your here . first the bullish case . from oct low 2022 cycle we have 5 waves up we should find great support at at 409.5 .382 and wave A of the abc decline was 50 point drop A x 1.618 = a target of 395 this is the worst case target . I lean towards Ax 1.382 in this count for the reason I can still count this as wave 4 . best of trades the WAVETIMER
QQQ trade ideas
QQQ: It has reached an inflection point - D & W chart analysis.On the daily chart, a series of gaps show intense selling pressure. The downward trajectory and the pattern of lower highs/lows suggests sustained bearish sentiment. However, a significant gap was closed recently, at 487.21, followed by a slight bullish reaction indicating some buying interest at lower levels.
The problem is that the trend is still bearish, as the price is still below the 21-day EMA, and we don't see any bullish chart structure yet (aka higher highs/lows). Therefore, any rally could be a Dead Cat Bounce, if the QQQ fails to break its resistance level at the 21 ema on the daily chart.
Switching to the weekly chart, the emergence of an evening star pattern—a strong bearish reversal indicator—highlights a potential trend shift after making a record high.
This pattern typically signals the exhaustion of a bullish trend and the commencement of bearish momentum. Following this pattern, a considerable pullback occurred, moving the price back below the 21-week EMA, which shows a lot of weakness.
These charts suggest caution. The bearish indicators recommend preparing for potential further downsides if the gap support at 427.81 fails to provide the necessary support. Its next support is at 413.07. But, if the QQQ confirms a bottom signal above this support level, it could trigger a rally to itts 21 ema on the daily chart, and then we'll see how to proceed.
Today's reaction is interesting. Let's follow the QQQ closely.
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QQQ - NVDA - AMZN - Closed Trades Take the Money and RunI am officially flat now in my trading account locking in the profits and selling my QQQ Short Put for a loss, but overall it was a win.
I also closed out NVDA and AMZN Puts as well for a small profit.
All in all around a 10k realized gains, will put the actual numbers together later, but wanted to get my closing out my trades here.
I am looking for some sign that the selloff is over and right now it is weak going into the close so best to just take our money off the table and wait for better setups.
08/05 QQQ ATR Levels and RangeNASDAQ:QQQ levels, that increase in overall ATR is not good, since thats all calculated from the downside lately, last 14 days of trading, although the number is going up, its going up for all the wrong reasons. Almost breached 6$ ATR from earlier in the month last month in the MID to low 6's now were are into and moving through the 7$ range..toooo much uncertainty for me, I need to watch and see what happens. I would suspect a pull to continue today, there will be pops on sales from those who knew and have large stakes, but I would trust any ANY POP right now,
QQQ Trading Opportunity! BUY!
My dear friends,
Please, find my technical outlook for QQQ below:
The price is coiling around a solid key level - 448.71
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 464.38
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
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QQQ 5th wave down in wave 3 of A 448/443/ 444.9The chart posted is the QQQ we are now in the late stages of WAVE 3 of WAVE A down . I have labeled the 4 hr pattern for you to see targets and form . I will be taken longs in the 448/444 area for a sharp rally back up in wave 4 of A we should see a last drop in a clean 5 waves down . From this point we will rally in the form of a large ABC rally to form WAVE B the BIG TOP wave B tend to catch most ALL traders wave B also tend to move to a HIGHER HIGH at about 1.236 to 1.382 at most of wave A down . I will post ahs the math unfolds But for the most part we are see in a super cycle TOP forming for the next 1 to 2 years the avg decline has been 34 to 50 % and takes about 2 years I have stated stagflation 2025 .best of trades WAVETIMER
QQQ beginning of bear market Looking at QQQ starting from the dip of the corona, we had 5 touches on the bottom end of a very clear trend line. the 6th touch of the bottom trend line started the 2022 bear market when it broke below the support. I think the same might happen now. We are 10% off the highs, with 3 touches on the trend line support. If we close below the marked trend line we are going to test the 2021 highs. If QQQ bounces off the support, we will see it go to 550 as indicated by the fibonacci retracement. Anyway one more very cool detail about this bull run is that from the lows of the corona to the top of 2021 the QQQ went up exactly 241 points, which is also the exact amount it went up from the bottom of 2022 to the top we saw at the beginning of July.
Watch this key level closely. If we break below the support trend line, this is going to be an actual bear market
$QQQ Trading range for Friday, August 2nd - Aug 5thWe have a pretty big trading range for the next two days. The implied move in QQQ is between 450 and 468 on Friday’s contract, and then on Monday’s contract, it is between 448 and 447—so about 2.36% in either direction.
We have seen the four-hour 200 moving average as support since last Thursday. We saw a bounce at that level this Tuesday and then again today, this Thursday. The momentum on that is still moving up. Above us, we have the 35 EMA. Outside of the trading range, we have quite a wall of resistance. We hit that wall today and got a super sharp rejection down. The 50-day moving average was there as well. We hit that 50-day moving average and dropped straight down to the four-hour 200 moving average. So, a big drop today and clear resistance at the 50-day moving average, clear support at the four-hour 200 moving average.
Those are just some targets to look for tomorrow. Good luck tomorrow, guys!
Remember not to over trade (QQQ trade recaps)Saw we broke range yesterday and the run continued EOD outside of regular trading hours. Saw we made a premarket high this morning and price retested it in the AM session which made me believe I was late for calls so I looked for Puts. I got swept out the first trade but my 2-3 trades hit. My confluence was off of a high timeframe head and shoulder pattern whose last price legs resemble the ICT concept of a bearish market structure shift pattern. My MAs signaled a death crossing (the golden MAs) and my short-term MAs (blue & red) signaled a reversal. My main entry was at the first crossing however I continued to trade and lost some at the end. Important to fix this bad habit.
SP 500 target 5830 by sept 3thThe chart posted is the sp 500 since we have and ABC decline that ended ??? I would thing this formation that I have posted would make it clear I said we have an issue at 5545 to 5562 ,I am waiting to confirm . But The math comes up with 5830 area 3 ways under 3 different labeling . I see us in a rally to form the neckline and then a pullback into Tuesday or Wednesday to form the right shoulder BOTTOM and then well you get the idea BTW the $yen is the low
Using percentage deviants and median price reversion/SMT QQQBullish for QQQ tomorrow. Price has swept demand zone/sell side liquidity before a breakout of old equal highs. tomorrow will be a trend day as price has broken range and clearly hasn't found a top as it still sits below price equilibrium from previous Major high and Previous Major low. I use a trendline, price deviations, and market structure SMCs to predict tomorrows swings.
QQQ hits first downside targetQQQ hits the first downside target of 460$ and falls into the weekly demand zone as we suspected for weeks. MSFT, META, AAPL and AMZN earnings will decide where we go from here, we have been receiving mixed sentiment on large caps with AMD pumping and MSFT dumping. I suspect we fall a bit deeper into this demand. If we do we lose the teal momentum line and fall to the red which is still reasonable with 3 macro touchpoints.
-We have already seen a 10% correction, I think we might wick a bit lower but I see buyers stepping in already
-There is a very low chance we dont continue to pump into elections