QQQ pulled back to support for LONG
Updated
Without regard to market noise, newsand other rumblings on the 1H chart with
two sets of anchored VWAP bands overlaid QQQ hit the upper bands about
about July 19th. On the retracement of about 35%, price is now in the range of
the mean VWAP line of the short-duration anchored VWAP and the first upper
line of the longer duration anchored VWAP. IT is also slightly above the interval
volume profile's POC line. That is to say there is tripel support and confluence
My analysis is the QQQ will rise in the upcoming week. I will take a long trade
targeting 378 (40%) 386.5 ( 40%) and 392 (205) - I may take a position in SQQQ
call options for insurance and risk mitigation on the trade. I see a resumption of
the bull run for technology and this trade will test that vision.
two sets of anchored VWAP bands overlaid QQQ hit the upper bands about
about July 19th. On the retracement of about 35%, price is now in the range of
the mean VWAP line of the short-duration anchored VWAP and the first upper
line of the longer duration anchored VWAP. IT is also slightly above the interval
volume profile's POC line. That is to say there is tripel support and confluence
My analysis is the QQQ will rise in the upcoming week. I will take a long trade
targeting 378 (40%) 386.5 ( 40%) and 392 (205) - I may take a position in SQQQ
call options for insurance and risk mitigation on the trade. I see a resumption of
the bull run for technology and this trade will test that vision.
Trade closed: stop reached
Price dropped through VWAP with the fed news yesterday. Watching for a short entry now.
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