Here are some key areas for NASDAQ QQQ that many traders are likely watching. I try to stick to only drawing lines that appear to be "obvious" to every technical analysis trader. The more obvious they are, the more eyes are on them.
~$304 would be a great entry as we've seen this level used as support and resistance, both with with strong responses. If that doesn't hold, then $298 which is not too far away would be the next area of entry.
We may not reach these levels if today's break from the parallel-ish channel happens to be a fake out.
~$304 would be a great entry as we've seen this level used as support and resistance, both with with strong responses. If that doesn't hold, then $298 which is not too far away would be the next area of entry.
We may not reach these levels if today's break from the parallel-ish channel happens to be a fake out.
Trade closed: target reached
Was 2 cents off from predicting the exact bottom.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
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.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
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.