Invesco QQQ Trust, Series 1Updated EW Plot Guesses for QQQ
Made some Elliot Wave plot guesses for bull and bear cases, using fibs and volume profile.
White boxes are year-long volume gaps that want to be filled. Red boxes are volume shelves (POC) that act as resistance/support, or get gapped past to the next volume hole.
The upper white box isn't as wide, because the volume hole isn't as deep as the others. Tho the difference with the others means nothing.
Please excuse all the fibs, the levels are: 0,.382, .5, .618, 1, 1.382, 1.5, 1.618, 2, 2.118, 2.618, 3.618, 4.236.
White boxes are year-long volume gaps that want to be filled. Red boxes are volume shelves (POC) that act as resistance/support, or get gapped past to the next volume hole.
The upper white box isn't as wide, because the volume hole isn't as deep as the others. Tho the difference with the others means nothing.
Please excuse all the fibs, the levels are: 0,.382, .5, .618, 1, 1.382, 1.5, 1.618, 2, 2.118, 2.618, 3.618, 4.236.
Note
The Elliot Wave counts could be viewed differently depending on what happens in the future. That's why I have 2 scenarios.
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Related publications
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.