QQQ Gap fill play or rally to 380
The Q's have had a beautiful breakout of this falling wedge, which is slowly becoming one of my favorite patterns to play, which we played on HUT, DOGE, RBLX, and AMC recently. I will make a video about that pattern soon. We have seen most tech stocks take off the last few days, which we can attribute to the whole tech industry (QQQ) in a small bull run here.
I unfortunately did not catch this breakout move at the time, however, I will be waiting for the pullback down to the 368-370 area where we can hopefully find some support.
I will be playing the Q's when they get back to the breakout level of around 370 and will be playing either side, with the idea of filling that gap at 360 or retesting resistance at 380, I believe it will be the gap fill play however.
Problems:
With that breakout, QQQ did leave a gap at 360, where we should have to fill before we can go any higher.
RESISTANCE LEVELS:
380 = mental and previous level of resistance
382 = ATH
Support levels:
370 = previous level of resistance, can hopefully find support there in the near term before going down and filling that gap at 360$
below 370, I think has to go down to at least 360 in order to fill that gap
I unfortunately did not catch this breakout move at the time, however, I will be waiting for the pullback down to the 368-370 area where we can hopefully find some support.
I will be playing the Q's when they get back to the breakout level of around 370 and will be playing either side, with the idea of filling that gap at 360 or retesting resistance at 380, I believe it will be the gap fill play however.
Problems:
With that breakout, QQQ did leave a gap at 360, where we should have to fill before we can go any higher.
RESISTANCE LEVELS:
380 = mental and previous level of resistance
382 = ATH
Support levels:
370 = previous level of resistance, can hopefully find support there in the near term before going down and filling that gap at 360$
below 370, I think has to go down to at least 360 in order to fill that gap
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