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TQQQ trade ideas

Big resistance between 171 and 173The TQQQ has been unstoppable for months. But for the past month it has been trying to bust through these resistance levels between 171 and 173 and when it did go through it failed. Except a correction to the TQQQ soon. The TQQQ is bearish with the MACD crossing and the price percentage oscillator showing a bearish trend. I am going to be waiting to see what happens and when the dust settles from Jpow, inflation, transitory, and anything else that will deem a bearish sentiment
NASDAQ:TQQQShort
by Cuzinhass
1
TQQQ Swing Strat , Long As per the TQQQ strat mentioned on prior ideas , today we closed with a solid entry signal and I entered long in the final 10 minutes of the day at: Entry $132.91 Stop at 127.77 Initial profit target set at 2R or $144.36. //////// Strategy Note/Loophole to reduce risk //////////// For this strategy , I take signals only on the close or within final 10 minutes. The main reason for this is to filter bad signals where we take back the ema's at some point but ultimately end up closing below the top ema, which is not a valid signal and we dont want too enter to early and be caught in this kind of situation. However , a problem with waiting for the close , sometimes , is that we might take back the ema's early in the day and follow through with a 6% move up (for example). Since the strategy requires the close to enter , you would have missed out on that initial 6% move .... Then, when we close WAY up , you will have a signal to get long but now since the trigger day had such a nice move up, your stop set under the lowest ema may be risking too much, even though the strategy requires it ... So, that's why I have added a pre-emptive day trade tactic to it. A day trade allows you to play the rally day and hopefully gain some early traction on profits. But, if you do enter it as swing, when you place your stop under the lowest ema or candle if applicable, you now have reduced your risk since you have some early realized profit to cushion you from your day trade . Today that is exactly what I did prior to entering as a swing trade at eod which provided a profit of 1.65% . We opened above the ema's so that right at open gave us permission to play early as a day trade and I entered around 6:40 with a 0.5% stop. I scaled out of half at 1.5R and used a trailing stop on the balance on 15M chart which stopped me out of balance a bit later in the day . ///////// Trade Setup and plan going forward //////////// The stop loss either gets placed under the lowest ema , or sometimes under the day's candle but only if the candle is lower than the lowest of the two ema's and it is your preference ( its a personal choice but I don't like to risk more than 5% on these trades though) The stop loss I set on this is VS the lowest ema) Stop loss is pre set and followed without question . Also , If we do get stopped out we wait for the next opportunity and we take it without hesitation. If successful , I will scale out of half the order at 2R which in this case is $ 144.36, I have preset a sell limit order for this too so it will not be missed . After I scale out of half, the next move is to use 21 EMA as a trailing stop on the balance .Personally, I like to have hard set stops slightly below the ema but you can also usually wait for a decisive close below thee 21 as another version that I know a fair bit of traders like to adopt . *Note the EMA's used here are 10 and 21 . ///////////// Additional Considerations ////////////// That's pretty much it :) but I have some final points . I like to scale out at 2R because based on historical testing , if/when there is a sideways and choppy year in the markets this tends to help us tend to get some breakeven results instead of losing liquidity 2015 was a great example of that when I back tested . I really try to keep the stops as tight as possibly while respecting the risk management rules because after that initial scale out we have a risk free trade which is important for my personal style . When the market is in a longer term sideways trend , if you still want to get active the tighter the stops the better because that will put your 2R sell point closer which of course creates a less risky trade for you .. Entry signals are when the market takes back the 10 and 21 emas after losing them in a pullback . The market needs to take back both ema's to validate a long signal but it can do so through out multiple trading days . Some days, the market will take back both moving averages in one move , these are the days when we can base our stop on low of candle instead of the lower ema if we wish.
NASDAQ:TQQQLong
by NAK1987
TQQQ reaching some Resistance (SHORT)Analysis based on long term trend lines and forming wedge. Moving averages starting to curl downward. Daily RSI is very high. Bought Put 11/5 dated 11/19 for $157.00. $2. No stop loss. In hindsight, it would probably be more advantageous to purchase a longer-dated put such as 1-month out, December 10th, and raised the price target close to the current share price, about $169, so that the risk of being out of the money at expiration is lower. The premium in that case would be more like $10. Loss due to theta decay would decrease. However, in that scenerio, a stop loss would be necessary due to the significantly higher premium. Also in that scenerio, it would be necessary to take into account the larger spread, about $0.50. Entry limit as close to the bid price as possible and wait for order to fill is a must. For the $2 put for 11/5 at $157, the spread was very small, about $0.02.
NASDAQ:TQQQShort
by bodeen88
TQQQ: "Following Fifteen" Trade Idea Discovered an extremely simply but promising Trade Idea looking at TQQQ. Currently working on a visual back test as time allows and looking for collaboration. Also putting together some automation in TradeStation. I've broken down October by the P/L and trade count (below), and have just the trade count going back to 1/1/2021 (will add later). Bad with math. For October: - 127.20-123.15 - 4.05: loss 405 118.36-122.11 + 3.75: win 375 121.75-124.61 + 2.86: win 286 - 125.10-120.72 - 4.38: loss 438 - 131.21-129.8 - 1.41: loss 141 127.62-128.62 + 1 : win 100 125.63-128.79 + 3.16: win 316 122.99-123.84 + .85 : win 85 - 126.25-124.98 - 1.27: loss 127 130.73-133.04 + 2.31: win 231 134.17-135.29 + 1.12: win 112 135.73-139.55 + 3.82: win 382 win -2,381 loss-1,111 NET PROFIT- 1,270 Have yet to optimize. No stops or targets.
NASDAQ:TQQQ
by l3loodred
TQQQ strat , will watch closely for a potential re entry . As my previous idea states I am going to share my re-entry on the TQQQ strat this time . There is some signs of bullish price action here and looks like we might pull off a wedge pop here soon . A wedge pop is when the price pulls back above the 10/21 ema's . Personally the entry will be when the price closes above the TQQQ stop will be vs the low of that candle and or the 21 ema . Usually whichever is less . There is another signal too and that's the 50 sma . Which is currently above the 10/21 . I suppose you could participate in both events maybe if you wanted to play it safer you could take a smaller weighted position on this first signal and a larger one on the 50 sma ? Anyways everyone's preferences are their own and its important to know yours to respect risk tolerances . will update if a position is taken , have set an alert above too ..
NASDAQ:TQQQ
by NAK1987