TQQQ Exits Triggered TodayThis is my personal trading strategy, not trading advice. TQQQ triggered exits today, locking up more profit.
TQQQ trade ideas
The two most likely routes tqqq will take.Alot of the market is giving some mixed signals, strange divergences stuck here and there, waves not wanting to perfectly line up, trends off a little, which tells me the market is still being cautious. Its easy to find reasons why, the main one points to the upcoming election. I came up with the projections with that in mind, and with the important dates in mind, by cross mapping fibbs to get the key spots it seems to be respecting and then analyzing its trends to connect the dots. I also analyze the global markets and cross reference the trend tendency's to get support these paths areas feasible from a outside perspective. I put a little more work in this theory then i would normally due to the circumstances of the current market, and feel very strongly this will be the roadmap we should be expecting. So I decided I would post it and maybe it will help someone somehow.
As always feel free to discuss , disagree, share your own theory or whatever floats your boat.
Good luck
TQQQ macro, looking for small ABC retracement, then target 160Short term looking for a retracement, long term still a bull. Great chart setup to go retest the high from a month ago. Copyright Rohan Karunaratne 2020
Stimulus falls through again, target 130-132 on TQQQMeasured from previous drop after stimulus, overall still looking bullish. Gap down Monday, but still overall up week. Copyright Rohan Karunaratne 2020
TQQQ break of resistance, target 150Lots of FOMO setting in on this wave 5. Stopped out of my SQs trade after the break of the macro resistance around 137. Looking for completion of wave 5 to around 150 in the coming weeks, then a retracement. Copyright Rohan Karunaratne 2020.
TQQQ 10/9Filled the gap and bounced very strong back to the upside. Approaching key levels of resistance.
TQQQ macro picture, good setup for bearish caseTQQQ hanging around the macro support area, no clear signs of a decisive bullish push, bearish technicals still exist. Copyright Rohan Karunaratne 2020
LOL The Optimal SHORT What color should i buy my lambo?
These bearish divergences make me so excited!!!!!!!!!!!!
TO HADES WITH THIS ONE
we have to be patientnot buying this one yet, but over 140 we will see some big buys that can take it to 200 in 1-2 months. looking to add shares on a break of that resistance zone. lets get this bag!
TQQQ beginning wave 3 down, target sub 120Great play for SQQQ today, looking for a retrace in coming weeks to below 120. Copyright Rohan Karunaratne 2020
TQQQ rejection off 61.8 Fibb level, target sub 118Looking for wave 3 to begin soon, technicals for the upside looking weak. Copyright Rohan Karunaratne 2020
TQQQ macro Elliott Wave Count, looking for break/hold above 113Key levels for TQQQ if we do see a massive retracement going into the election. Copyright Rohan Karunaratne 2020
TQQQ hanging around key resistance at 137History tends to repeat itself, key level of resistance at 137 that TQs is trying to get through. Technicals pointing down, the best we can do is take the highest probability setup. Copyright Rohan Karunaratne 2020
TQQQ failed 2nd attempted breakoutTQQQ tried to push out of trading range, broke resistance and tried to find new support, but slipped into the close. With failing MACD, my take is that we will see continue decline going into the week, potential retracement to the previous resistance or lower (125 minimum). Copyright Rohan Karunaratne 2020
TQQQ Island Consolidation Pattern forming, target sub 120Excellent resource for learning about an island consolidation patter:
stockcharts.com
Textbook example beginning to form on the Qs, today's selloff also confirms sentiment of fear. Please trade at your own discretion, these are just my ideas. Copyright Rohan Karunaratne 2020
TQQQ overextended, possible retracement target at 120TQQQ having a failing MACD after great open and jump to 130. My target for an entry to catch wave 3 might be between 116-120. Copyright Rohan Karunaratne 2020
TQQQ strong day, target 125 Monday/TuesdayTQQQ strong MACD, almost a 7% push today. Looking for potential pass of previous high at 125, at which we will see either rejection, or further push. Please trade at your own discretion. Copyright Rohan Karunaratne 2020.
TQQQ to 125, decision will be made at this levelTQQQ beginning recover, potential upsides if we can get to 125 level. Today, TQQQ has helt the 23 Fibb level after selling off into the close, and is sandwiched in between 0 level of the original retracement, and 23.8 Fibb Level of the micro retracement. Should we get to this level in the coming week, or potentially Friday, a decision will be made to either move to the upside, or bounce and retrace back down to 110, or lower. Copyright Rohan Karunaratne 2020
Simple Trendline Breakout Trade on TQQQ today !This is another trade today that shows how trend line breakouts can help identify entry, stop loss and targets.. After first target is hit, rest continued to hold based on higher time frame charts.
