QQQ - Awaiting the Exit on MACD down
Updated
Technicals:
1. RSI has already moved to overbought
2. MACD is peaking
Fundamentals:
1. USD Debt Ceiling Resolution
Strategy:
I will be exiting when:
MACD makes 2 days consecutive dips
1. RSI has already moved to overbought
2. MACD is peaking
Fundamentals:
1. USD Debt Ceiling Resolution
Strategy:
I will be exiting when:
MACD makes 2 days consecutive dips
Trade closed: target reached
testTrade active
we are about to get the first down MACD candle at close of business NY today. we will look for the second one tomorrow.
Trade active
Technicals:1. we have our 2nd down MACD candle at EOD
Fundamentals:
1. USD Debt Ceiling still in limbo with breach eta 1 June (Yellen)
Action:
1. closely observing today's opening and ready to exit
Trade closed: target reached
Technicals:1. Observed price action on opening candle
2. MACD would make a 3rd down at this point
Action:
There could be more upside for TQQQ but I do not see much, at most to $35 (based on symmetry of last bottom to peak). I decided to close at $31.93 at about 945am EST.
Summary:
The purchase of 100 shares of TQQQ on 20 Jan 2023 at 21.57 and closed on 25 May 2023 at $31.93, yielded $1014 (including deduction of brokerage fees of $44) or 47% return (including deduction of brokerage fees of $44).
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