Technical Analysis & Price Action
* Trend Overview: QQQ continues its bullish momentum, reaching $523.52 before consolidating near $522. This upward channel is intact, with buyers maintaining control, but caution is warranted as it approaches resistance.
* Support Levels:
* $517.50: Immediate support aligning with recent pullbacks.
* $513.33: Strong support where buyers previously stepped in.
* $510.00: Key psychological support, failure here may lead to further downside.
* Resistance Levels:
* $523.52: Immediate resistance, a breakout above this level could push toward $530.
* $527–$530: Major resistance zone to watch for profit-taking or rejection.
Liquidity Zones & Order Blocks
* Liquidity Zone: $516–$517, high trading volume with significant activity, acting as a pivot zone.
* Order Block: $520–$522; a breakout here could signal bullish continuation.
Scalping Playbook
1. Bullish Setup:
* Entry: Above $523.52 with increasing volume.
* Target: $527 (partial) and $530.
* Stop Loss: Below $520.
2. Bearish Setup:
* Entry: Below $517.50 with a strong breakdown.
* Target: $513.33 (partial) and $510.
* Stop Loss: Above $520.
Swing Trade Strategy
1. Bullish Swing:
* Entry: Close above $523.52 with volume and bullish momentum.
* Target: $530 (short-term) and $535 (medium-term).
* Stop Loss: $520.
2. Bearish Swing:
* Entry: Close below $513.33 with strong selling pressure.
* Target: $510 and possibly $505.
* Stop Loss: $515.
Thoughts & Projections
* QQQ’s strong uptrend shows no immediate signs of reversal, but volume at resistance needs to be monitored closely.
* The MACD histogram indicates slowing momentum, suggesting a potential pullback before the next leg higher.
* Focus on intraday volume and watch for rejection near $523 or a breakout confirmation.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always perform your own due diligence and manage risk effectively.
* Trend Overview: QQQ continues its bullish momentum, reaching $523.52 before consolidating near $522. This upward channel is intact, with buyers maintaining control, but caution is warranted as it approaches resistance.
* Support Levels:
* $517.50: Immediate support aligning with recent pullbacks.
* $513.33: Strong support where buyers previously stepped in.
* $510.00: Key psychological support, failure here may lead to further downside.
* Resistance Levels:
* $523.52: Immediate resistance, a breakout above this level could push toward $530.
* $527–$530: Major resistance zone to watch for profit-taking or rejection.
Liquidity Zones & Order Blocks
* Liquidity Zone: $516–$517, high trading volume with significant activity, acting as a pivot zone.
* Order Block: $520–$522; a breakout here could signal bullish continuation.
Scalping Playbook
1. Bullish Setup:
* Entry: Above $523.52 with increasing volume.
* Target: $527 (partial) and $530.
* Stop Loss: Below $520.
2. Bearish Setup:
* Entry: Below $517.50 with a strong breakdown.
* Target: $513.33 (partial) and $510.
* Stop Loss: Above $520.
Swing Trade Strategy
1. Bullish Swing:
* Entry: Close above $523.52 with volume and bullish momentum.
* Target: $530 (short-term) and $535 (medium-term).
* Stop Loss: $520.
2. Bearish Swing:
* Entry: Close below $513.33 with strong selling pressure.
* Target: $510 and possibly $505.
* Stop Loss: $515.
Thoughts & Projections
* QQQ’s strong uptrend shows no immediate signs of reversal, but volume at resistance needs to be monitored closely.
* The MACD histogram indicates slowing momentum, suggesting a potential pullback before the next leg higher.
* Focus on intraday volume and watch for rejection near $523 or a breakout confirmation.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always perform your own due diligence and manage risk effectively.
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.
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.