Pretty basic high risk trade - falling wedge today setting new relative lows with higher readings on RSI. If we do see such a bounce, I don't expect to puncture the larger downtrend line which gives a max potential gain to around 370-371for the next few days. I'm playing this through Oct 4 expiration 358 QQQ calls (note: this is obviously very short term!) which seems to be short term support, but expect for that downtrend line to act as a ceiling until we find a real bottom. Looking for 368-369 with gap fill and previous support/resistance to exit trade. Overall chart is not looking inspiring.
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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.