QQQ invalidated previous "HARAMI CROSS" reversal signal, given daily MACD rising above zero, with momentom remain overbought cruising on bullish tone might just give this bullish terminal 5th wave rally a litle push higher with measured objective sitting around $396/404 area.Now i wouldn't be too agressive going long ghere, ideally buy the market $377 for move towars $396/404 zone profit target, equal length risk reward $19 profit target thus i will leave stops at $358, i am not going to be greedy on this run up because it can potentially just end without much notice, which is why i'm leaving a tight stops.bare in mind this is not a new bull trend!!! the whole rally is still within corrective cycle as you can see on the label; anything label abc or abcde are corrective
don't fall for it, going long is more of #FOMO trade which is why short term trades gotta make it very tight wwith stop loss in place
alternatively i will try to pick top and build up a core shorts near $396/404 zone via options, reason being i want to put my money on the table, something i can afford to lose!
Trade closed manually
NOT WAITING FOR $396/$404, TOOK PROFIT AT $385 AND WENT SHORT QQQ VIA LONG ER DATED PUT OPTIONS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.