$QQQ Day Trade breakdown As a day trader one of our best trigger levels come from the previous day low/closing price. Well this happened to be both here on QQQ and we have a steep correction into $443 level which was the previous day low/close. We see the bear flag form back into resistance and we look to take it short here for a move further to the downside.
QQQ trade ideas
QQQ The Target Is DOWN! SELL!
My dear subscribers,
QQQ looks like it will make a good move, and here are the details:
The market is trading on 446.21 pivot level.
Bias - Bearish
My Stop Loss - 452.09
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 435.52
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
QQQ (Nasdaq etf) - Potential Bearish Momentum - WeeklyQQQ (nasdaq etf) has been uptrending for over a year (2023 to 2024).
However, signs of a potential pullback in the long-term charts are showing with the price and rsi oscillator.
In the long-term, a potential pullback may occur in the price, and the price could fall down to $426, $419, $400, $394 support levels.
Long-term resistance levels are: $460, $470, $480, $500.
QQQ etf volatility and trend can be affected by FOMC Interest Rates, Corporate Earnings, Consumer Sentiment, and Global Event Catalysts.
A major bearish catalyst or a series of bearish events would be needed to reverse the price back down.
Note: Without bearish events, the price of QQQ could continue rallying to new all-time highs.
🌟📉 Short Trading Setup on QQQ Chart—ICT Analysis! 📊💼Let's dive into an intriguing trading opportunity on the QQQ chart with a short setup based on ICT analysis. Get ready for valuable insights and potential trading strategies. 🚀📉
📉 Downtrend Formation:
Upon careful examination, it becomes evident that QQQ has formed a lower high and lower low, signaling the establishment of a downtrend in the H1 or lower timeframe. This bearish pattern suggests a potential opportunity for short trades. 📉🔻
💡🔍 ICT M15 Short Setup:
Delving deeper into the chart, it becomes quite apparent that a compelling ICT M15 short setup is in play. The price action and key indicators align, indicating a favorable scenario for short trades. This setup presents an opportunity to capitalize on the downward movement and potential profit. 💡📉📊
🎯 Target and Stop Loss:
For this short trading plan, we have set a target at $443, representing the level we anticipate QQQ to reach during the downtrend. To manage risk effectively, we recommend setting the stop loss at $448. This ensures a risk and reward ratio of either 1 to 1 or 1 to 1.5, depending on your preferred approach. 🎯⛔💼
Embrace this short trading setup on the QQQ chart, guided by ICT analysis. Remember, trading carries risks, so always exercise caution and diligence. Make informed decisions based on your risk appetite and trading strategy. Let's maximize the potential and aim for profitable trades! 💪💼💹
#QQQ #ICTAnalysis #ShortTradingSetup #TargetandStopLoss #RiskRewardRatio 📉📊💱
QQQ Bearish Scenario - 422 Short Term TargetThe price action momentum over the last month or so in the QQQ has begun to slow down.
Price within the main black bull channel seems to have shifted into a more shallow (blue) bull channel, which is a sign of slowing momentum.
This shift into the blue channel gives better chances that the bears could take control if the black channel is lost by the bulls.
A bearish scenario i will be watching is if they break below the 435 area, price will likely be breaking down from both the main black bull channel, and the blue tapering channel.
With this setup, overall i would like to see some sort of right shoulder to form to build liquidity to take it lower.
The next (blue tapering) lower channel line should be around 431, and another pause and right shoulder there would be good to see.
If they can break the 2nd tapering channel line at 431, they should have room to about 422 area, to test the recent gap and pivot, which was the day of NVDA's earnings.
QQQ expecting down into Thurs/FriI've got a scenario for the week that suggests a high today or tomorrow with at least a couple days down and a v-bottom.
This is based on my dowsing work that is still a learning process, but has some merit. I am working to get it as close to reliable as I possibly can. It's fun & helpful to post ideas here on TV to see what works or doesn't. Especially after longer term periods.
I expect this action could be initiated after Fed speak tomorrow. We'll see.
QQQ bearish Head-and-Shoulders pattern confirmedNASDAQ:QQQ has shaped Head-and-Shoulders formation on the daily chart. Daily downtrend confirmed, weekly consolidation has started.
Please note that broad SP500 market is still technically in an uptrend, meaning that buyers are still strong. So if you plan entering SHORT on QQQ I would wait for a pullback to increase risk-reward. An example of possible trade is shown on the chart. Of course, it is important to monitor how things develop and make corrections if needed.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
QQQ Falling Out of Channel on Quad Witching DayQQQ is down over 1% today and falling out of the channel it's been in since October. It's quad witching today so could not be a coincidence that the market might be changing phases. An obvious spot for support would be the 50 EMA down between $425-$427.
Unlocking the Secrets of Profitable TradingA Journey Beyond Technical Analysis
After more than 20 years of successfully trading various assets, from stocks to futures and options, I can confidently assert that the major distinction between a professional trader (profitable and consistent) and an amateur (unprofitable and inconsistent) is that the former does not rely blindly on technical analysis.
In fact, for me as well as many other traders that I know, the turning point came when we realized the need to go beyond the tools provided by technical analysis.
I'm not saying that technical analysis isn't useful, because in fact it is, as it provides us with some useful tools. What I want to make clear is that it covers only a small percentage of the distance that must be covered to become a successful trader.
So, have you ever wondered how effective technical analysis is at predicting the future trajectory of a financial asset?
I'd bet your answer depends on your experience and the time you've been using it, because many traders sooner or later find themselves asking this question when they observe that sometimes the projections derived from technical analysis are accurate and sometimes they are not.
It is precisely in this feature of inconsistency where the greatest problem of technical analysis lies as a predictive tool. Its successes and failures are unpredictable, which hinders its reliability and usefulness for investors and creates a psychological burden akin to a ticking time bomb ready to explode at any moment.
In simple terms, a trader who relies solely on technical analysis as his primary approach to the markets is risking his hard-earned money by depending on a tool that only works occasionally.
In a succinct manner, in order to keep this post from becoming too lengthy, I'll briefly mention some of the main limitations of technical analysis as a predictive tool:
It's based on past data, which causes it to ignore key events such as political or economic events that have not yet occurred.
It's susceptible to a high degree of subjectivity because it relies on perception (what you see on the chart), which can be very different from what another trader sees.
It disregards fundamentals.
It doesn't take into account the changing psychology of the market.
At this point, a question arises: if technical analysis is unreliable, then is there a better way to handle uncertainty and anticipate future movements of a financial asset more accurately? Fortunately, the answer is yes. I want to draw your attention to the way I constructed the previous question, specifically when I mentioned 'handling uncertainty', because accepting and embracing the fact that the market is better modeled by randomness would be a big step that a trader can and should take on their path towards profitability.
Here I want to pause, because in short I will talk about mathematics and statistics, but don't worry, I won't get into the intricacies of technical specifics. Instead, my aim is to explain a vast technical arsenal of key concepts in an intuitive and straightforward manner without using mathematical jargon, and hopefully provide you with the basic understanding that will allow you to perceive the market in a different way, in fact, in a more realistic and operable one.
Let's return to uncertainty, because this is where the key lies. Firstly, let me underscore a fact: the market is governed by unpredictability, in the sense that the future value of any stock asset is influenced by a multitude of factors and may exhibit ambivalent fluctuations. As a result, it's impossible to anticipate such future value with undisputed precision.
The stochastic nature of the future value of our favorite asset, which we strive so hard to predict today, is so pronounced that it impacts not only technical analysis but also more sophisticated tools, such as statistical time series analysis and artificial intelligence. Despite our best efforts, these methods often fall short, providing accurate forecasts only in certain cases, rather than universally reliable predictions across the board.
Accepting that we may be correct in some cases and incorrect in others is precisely where we can embrace uncertainty effectively. Recognizing that my analysis and decisions may be both right and wrong before entering the market is a significant step towards understanding the probabilistic nature of the market and alleviating the psychological pressure derived from the need to always be right.
Thus, embracing the undeniable probabilistic nature of the market allows me to perceive things differently. It frees me from the unrealistic need to always be right and introduces a fundamental concept: the notion of assigning a probability of success to each trade, rather than focusing solely on being right or wrong.
Here, the approach undergoes a radical shift. Instead of seeking that infallible technical indicator or that machine learning model that will predict tomorrow's price, I redirect my focus towards creating a trading system that tilts the probabilities in my favor. The goal is to ensure that the sum of favorable events exceeds the sum of unfavorable events.
And well, here's the good news you deserve if you've made it this far in the reading: you do not need to be a math wizard to be profitable, because any trading system (solid foundations) is a winning system, if it focuses not on its ability to correctly anticipate the future, but rather on creating an advantage from a probabilistic standpoint, whether in other contexts it tends to produce negative results.
Yes, just as you're reading it, even a simple system, let's say a crossover of two moving averages, is susceptible to being a winning system if we have the ability to bias the probabilities in our favor with its use.
The immediate question that arises is how to bias the probabilities in my favor. Fortunately, the answer is less complicated than it might initially seem. While there is a vast mathematical and statistical framework supporting everything, involving advanced techniques such as stochastic calculus, random functions, quadratic forms of Brownian motion, statistical inference, and so on, thankfully in practice, we don't need to delve into all of that.
On the contrary, a very basic understanding of concepts such as random walks, the normal distribution of returns, expected value, and variance is sufficient. These concepts all converge to provide nothing less than an average that indicates the positive contribution (or negative, in case of making mistakes) of each of our trades, considering the historically calculated probability of success.
In other words, a numerical representation of the potential positive or negative expected contribution of your next trade before you execute it. This removes uncertainty from the decision-making process and, ultimately, provides you with an invaluable tool for making informed decisions. On top of that, it becomes a powerful ally when dealing with the anxiety and emotional burden of trading, by providing a quantifiable measure that can be known before any action.
There is indeed an abundance of books, blogs, and videos available on the use of probabilities (expected value) in trading. While some sources provide valuable insights, unfortunately many lack a deep understanding of the mathematics behind it, resulting in explanations that are not as comprehensive as desired. However, these resources can still serve as a good starting point for traders looking to grasp the concept.
I plan to publish several follow-up parts to this post, where I'll delve into more specific details to offer actionable guidance on incorporating these concepts. However, time is a scarce asset for me, not because I spend long hours in front of the screen, but because I limit my work engagement as practice for maintaining happiness. Therefore, I must find the time to produce the continuation of this publication, but I will find it, because at this stage in my journey as a successful retail trader, I'd like to share knowledge for the benefit of the trading community.
QQQ Nasdaq 100 ETF Options ahead of the FOMC decisionAfter the 2023 Price target was reached for QQQ:
Now Powell's likely to take a hawkish stance tomorrow, given the CPI, PPI, and GDP data.
Interest rate cuts probably won't happen before June, in my opinion, potentially causing both indices and the crypto market to decline.
I would consider purchasing the 416usd strike price Puts with
an expiration date of 2024-4-19,
for a premium of approximately $2.55.
My end of the year Price Target for QQQ, the Nasdaq 100 ETF, is $470.
Nasdaq 100 (QQQ) - Resistance meets MomentumThe Nasdaq 100 (QQQ) is in a struggle with long term resistance of the trading channel and that of the momentum buyers. You can see the rejection several times off resistance, but every time the momentum buyers push it back up. I am still unsure what is going to happen here. We are at the point where bad news is good news and good news is better news just like in 21-22. If momentum can get above and hold the resistance, we could be in for another 2022 like bubble. I am unsure if we are just going to squeeze and pop through or a good 5% or so correction to bounce from. As we saw before, once momentum gets going it can stay irrational for quite some time.
1M view
Where is the market going Well 16 new highs SPY she a running. Will she ever pull back hahaha. I am looking for a correction 5 to 10 % soon may have started see what happens Monday, know when we get that correction we will have to see does it make a new high or a lower high. QQQ has lower highs. Why we rallying so much its the fed they are printing printing and remember i said watch March 11 see regional banks fail. Well what the fed did was they opened up the borrowing window yep. Another thing they keep saying jobs jobs jobs numbers great. Well they are not they beat because they keep revising lower every time
Another thing that is not good u see breadth market bad. I do believe some point this year we drop 30-50% will see. Know what would make that happened its the BANKS and IWM. IWM lagging big no new high and banks gonna take us down so much defaults out their and when they print INFLATION goes up, do not believe its coming down they lie. I mean groceries wow up gas going up watch oil long SLB. Their is this possible thing that
can happen we correct make new highs and go fook inflation they say oh boy it could happen. When they cut watch market drop. Inflation high going higher . So lets see how this plays out. 1 more thing earnings they also revise those lower that so they can beat
Shave and a Haircut...In the past, Two Bits (two red weeks) has resulted in a 3rd red week. For this analysis, we need only two bits of data. Up, or down. Using 1st and 3rd std. dev. linear regression reveals the pattern.
Yet trying to avoid holding onto an emotional bias. Looking at short positions will depend on how price behaves on key times, such as opening sessions and news days. Coupled with the appearance of trapped buyers or sellers, or breakout traders in need of liquidation.
Awareness of these "market factors" and psychologies is an ongoing exercise.