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TQQQ trade ideas

its pretty obvious the fed seems determined to tank this markettechnology is not playing the feds game, and they are rubbing elbows with china especially where semiconductors are concerned. the dollar is the worlds reserve currency, and big corporations dont like a populace with buying power. the job of the reserve banks is to assist borrowers while preserving the lenders capacity, and with this particular administration volatility seems to be the most profitable route. this means one thing. the bear market rally everyone feared is here. im predicting a dead cat bounce followed by continued downside.
NASDAQ:TQQQShort
by cerealpatterns
a couple scenarios for critical resistancethere are a couple scenarios for the critical resistance weve just about come up to on the l nasdaq. i think were above pivot, and where we start out friday will define next weeks activity. if we hit that resistance sss moving average, and we fall beneath the pivot forming bearish divergence daily rsi i think were headed for daily consolidation. if we breech that first upper horizontal embedding bolinger bands and treating the crucial area as support i think were in for continuation until rsi comes out of overbought.
NASDAQ:TQQQ
by cerealpatterns
nasdaq on the verge of breaking outthe nasdaq 100 is showing that it can reach for the highs, and is on the verge of breaking out above major resistance to levels not seen since early june. continuation seems likely, and i have critical levels of support and resistance marked out as horizontal lines where it may pause, or bounce. sss is green and qqe is long. if we get over one of these lines i would look to the next horizontal above, and if we break below one of these lines i would look to the next horizontal below.
NASDAQ:TQQQ
by cerealpatterns
TQQQ , LONG ( TFSA ACCOUNT ) This is a slower account that I am using a portion of my TFSA for , the backtest method is to sell 1/3rd at 2R but I am changing this to get more proactive on taking profits , this is its second trade of 2022 and my first trade was a loser but honestly should not have been . The stop was too far imo and I still had a 2R de-risk point . So , I am doing something similar to my swing account and having a 1R and 2R profit target but instead of selling 1/4 , I am going to sell 1/6 each time . This way a fully de-risked position will still leave me with 2/3rds of my shares . This account focuses entirely on TQQQ that's all it trades and in a good environment it can compound pretty nicely . It is back tested quite extensively , where I manually go over the chart to log the data and compiled about 12 years worth of trades and various different trade management structures , one thing worth noting is that the TQQQ had lots of periods where it made all time highs though these 12 years and I have not tested it through long periods of market underperformance . However , just the same with my swing account , this is precisely why we de risk or at least try to ;) It has had periods in the last 12 years of data where I have had 6 losers in a row , 5 is more common . Largest amount of winners in a row is 7 . There is not a huge amount of difference between this TQQQ TFSA account vs my swing account but it takes way less trades and takes much heavier positions , I originally used the whole account to take a position but I have since changed this to 3% risk vs AUM because I know the most lost trade in a row was 6 . So based on the last 12 years , that's a max 12 % account drawdown which is pushing the limits of where the math of what it takes to recover starts to work against you . Ok so there is a quick explainer of why I have so many TQQQ trades of late lol , I like TQQQ ~ Oh yea , I am pretty sure that a TFSA account is similar to IRA for us Canadians btw for those wondering ... Entry - 28.43 Stop - 26.57 PT1 -30.31, sell 1/6 , raise stop Pt2 - 32.18, sell 1/6 , stop same run balance ..
NASDAQ:TQQQLong
by NAK1987