TQQQ trade ideas
TQQQ Life Has Been a Logarithmic LineIt seems like quite a coincidence that NASDAQ:TQQQ has been so linear on a logarithmic scale. You'd expect more randomness.
Why is it so straight?
Is this a result of some fundamental underlying economic laws?
Or is the Federal Reverse using its powers to maintain a very specific level of long term economic growth?
TQQQ target 172 for wave 3 Continued push today, but as long as we stay under 160, we could still have our 128 drop. Copyright Rohan Karunaratne 2020
TQQQ, The beginning of something good?Will price break higher from this consolidation? Got me, although I do have a position with a tight stop. Traditionally this is a bullish time of the year. We will see.
TQQQ target still 128Same as QQQ chart, if you want to trade this, short at top of trend channel with stop at the high, and get long at the bottom with a stop under the lows. Still waiting on more action. Copyright Rohan Karunaratne 2020
TQQQ slightly adjusted levels, support to break at 140Same verdict as the Qs chart, we need to take out the lower supports at 142, and 140 (Volume distribution support) in order to continue wave 3. Copyright Rohan Karunaratne 2020
TQQQ target 127.5 for wave C retracement, deeper wave unlikelySlightly adjusted the levels, based how late the decline was into the close today, I am now projecting that the correction will not be as deep as originally anticipated, now setting the low at around 127. Of course, we can continue to fall through this level, but I will probably begin a position if we can get under 130, just my gameplan. Copyright Rohan Karunaratne 2020
TQQQ updated levels, target still remains at 127.5Same as QQQ chart, all targets still same, slightly adjusted wave 2 to the high made in the morning. Copyright Rohan Karunaratne 2020
TQQQ target 130 or 100 for C wave retracementStill waiting for either a 1-2 structure off the lows which would confirm a bullish trend, target for that retracement around 130, or another option is a deeper C wave to around 100 for the bearish option. We still haven't reached the ending of our target B wave yet, which would end around 150, any push farther would be bullish. Side note, I am also posting a QQQ chart daily now, which is more accurate and precise for projections, as it is not leveraged, but I will still post daily TQQQ levels. Copyright Rohan Karunaratne 2020
TQQQ bearish target 100, bullish target 180Sorry for the slightly late upload, the TQQQ chart is a confusing one. I color coded the elliott counts to make it simpler to read: Blue = Completed Bullish Targets, Red = Completed Bearish Targets, Pink = Projected Bullish targets, Yellow = projected Bearish Targets. The key levels will be the top of the micro B wave around 151, if we break through that level (sustained, not just a slight spike), then the levels to watch will be the 12345 pink count. Alternatively, we can get rejected off the 151 level, find a support at the wave 2 low around 130, and then still follow the pink count target to 180. If we do break below the 130 level, and begin to fall down, then all the remaining yellow targets down to 100 are the key levels to watch, with buys for me around 120 and 100. This chart is kinda messy, feel free to comment any questions and I will clarify as needed. Enjoy your weekend! Copyright Rohan Karunaratne 2020
TQQQ expected rejection of 147 level, target 120Expected rejection off the resistance level, if this is wave 3, target is 120. If not, we need to hold above the local low at 130. Copyright Rohan Karunaratne 2020
Daily Recap sur TQQQ - 20201112Une autre séance d'apprentissage pour TQQQ. Survive until you thrive!
Comment trader TQQQ. Un Recap des séances du 9 au 11 NovembreCe vidéo explique ma stratégie pour trader l'actif TQQQ en court de séance.
TQQQ still bearish, wave 3 target 120All target remain same for /NQ and TQQQ. I am watching this resistance level, if that holds and we get a breakdown into tomorrow, could confirm the wave 5 target of 100 or lower is still possible. If we do get a sustained break above and we turn resistance into support, I would have a more bullish outlook. Copyright Rohan Karunaratne 2020
TQQQ rejection at projected level, target 130 to begin A waveCalled out the target almost to the exact price, rejection off the resistance does confirm that continued downside is a high probability. Current levels are the Fibb retracement from 160 to 107. Copyright Rohan Karunaratne 2020
