Quick update on QQQ with a look at the 4-hour chart.
📈 Technical Analysis (TA):
* QQQ is at a critical resistance zone around $479-$480—key decision level here.
* Recent Change of Character (CHoCh) suggests bulls might take control if price breaks higher.
* Strong support formed at a Break of Structure (BOS) around $466; keep this level on radar if price pulls back.
* Watch closely the next resistance zones around $495 and a major overhead barrier at $502.
📊 GEX & Options Insights:
* High negative NET GEX at $466 marks critical PUT support—a strong floor area.
* CALL resistance appears clearly around $495-$510, with a significant gamma wall forming.
* IV Rank moderate at 42.8%, indicating reasonable premium—suitable for spreads or moderate premium selling strategies.
* PUT sentiment at 32.5% signals bearish bias, keeping bulls cautious.
💡 Trade Recommendations:
* Bullish Play: Wait for a confirmed breakout above $480 for a bullish run to $495 initially, and possibly higher towards $502. Set stops tight below $475.
* Bearish Play: Look for a clear rejection at $480 to enter puts targeting the support at $466.
* Neutral traders might explore credit spreads or Iron Condors between clear zones ($466–$495).
🛑 Risk Management: Ensure disciplined stop-loss placement, especially in this range-bound scenario.
Stay safe and trade wisely!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
📈 Technical Analysis (TA):
* QQQ is at a critical resistance zone around $479-$480—key decision level here.
* Recent Change of Character (CHoCh) suggests bulls might take control if price breaks higher.
* Strong support formed at a Break of Structure (BOS) around $466; keep this level on radar if price pulls back.
* Watch closely the next resistance zones around $495 and a major overhead barrier at $502.
📊 GEX & Options Insights:
* High negative NET GEX at $466 marks critical PUT support—a strong floor area.
* CALL resistance appears clearly around $495-$510, with a significant gamma wall forming.
* IV Rank moderate at 42.8%, indicating reasonable premium—suitable for spreads or moderate premium selling strategies.
* PUT sentiment at 32.5% signals bearish bias, keeping bulls cautious.
💡 Trade Recommendations:
* Bullish Play: Wait for a confirmed breakout above $480 for a bullish run to $495 initially, and possibly higher towards $502. Set stops tight below $475.
* Bearish Play: Look for a clear rejection at $480 to enter puts targeting the support at $466.
* Neutral traders might explore credit spreads or Iron Condors between clear zones ($466–$495).
🛑 Risk Management: Ensure disciplined stop-loss placement, especially in this range-bound scenario.
Stay safe and trade wisely!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
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.