TQQQ trade ideas
TQQQ ShortIn down trend Channel
Stop 98
Short 86 when break to new low
Target 65
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
$TQQQ Market Correction DDThe market was extremely bloody last night, where we saw $TQQQ trading at highs of $98.07 at one point and subsequently closing at $87.90. I believe this can be attributed to the rising bond yields trend we are currently witnessing, particularly in the 5 year and 10 year treasury yield.
Between the start of February 2021 to February 24th, the 5 year treasury yield has been steadily increasing at an average of 0.01 to 0.03 daily, while the 10 year treasury yield has been increasing at an average of 0.01 to 0.04 daily.
However, yesterday on the 25th of February, this skyrocketed. The 5 year treasury yield shot up by 0.19 from 0.62 to 0.82, while the 10 year treasury yield shot up by 0.16 from 1.38 to 1.54. Typically, when the 5 year treasury yield goes beyond the 0.75% threshold and the 10 year treasury yield goes above the 1.50% threshold, the stock market tend to sell off in reaction to that. This huge one-day surge in yield return as a result of a lack of interest in bonds likely exacerbated the sell-off.
I believe that this correction is extremely healthy in a market where a lot of the valuations are rather high; and this is unlikely the "huge market crash" or the "bubble pop" premonition that many investors are fearful for, especially considering the fact that a huge $1.9 trillion stimulus will be incoming.
However, it will undoubtedly do us good to remain cautious and keep some cash on the side because in the short-term, the hardening of yields will likely lead to some volatility - which means more frequent dips for you to average your positions; but more importantly, eventually, the consequences of printing these money will likely catch up to us in the form of record-level inflation and interest rate rise, possibly killing the bull run - and we need to be prepared for it.
For now, I expect growth from the support zone of this bullish channel back to the $100 to $110 range.
This is not investment advice so please do your own due diligence!
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02/26 QQQ / TQQQ Bounce -RSI don't lieYou can see from the Daily chart going back to last Feb 2020 that all the Highs and Lows have been supported exactly when they touched RSI channel. To me this is buy-time but please do your own research. This is for my own personal trading. Covered my shorts yesteray and switched to long until the chart tells me otherwise. Comments welcome.
TQQQ - Formed a double bottom!After following successfully the pattern that we shared on FEB 7, TQQQ dropped to the prices that we expected it to be.
-With currently standing at a double bottom, a drop that came with a bull flag formation, we see this as a good price to enter
for mid and long-term investors.
-For short-term investors we suggest to wait for a trend reversal and then hop on the board!
TQQQ - TrendlineAs we all know, all the analysts and investors are talking about the market bubble that we are all in currently. And in our opinion, TQQQ is reaching its resistance line. It will need to cool-down sooner or later, we are currently waiting for it to pop the bubble and drop closer to the support line where we can buy it confidently. Good Luck to everybody and Stay Safe!
$TQQQ $87 A Healthy CorrectionThe market has been a bloodbath the last 4 trading days. We saw share price across the board easily correcting 5%, 10%, 12%, and even 15% each day.
However, I believe that the correction is not over yet. We will likely re-test the support of the bullish channel at around $84.32 to $87.27. This is a very healthy correction that is long overdue. Use this opportunity to load up on shares of companies that you believe in by buying the dip because fundamentally, there is nothing wrong with a lot of the companies that are experiencing the dip.
My target is $87.27. Please set SL based on your own risk tolerance.
This is not investment advice so please do your own due diligence!
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$TQQQ Trade Review +9.75%After smashing through our $87.27 price target, $TQQQ rejected violently back to the $96 level. This could be a sign that the worse of the correction could be over for the time being. However, I still wouldn't be too optimistic about it yet as we could still see a second and third re-test of the bullish channel's support level. As such, keep the movement of $TQQQ under your radar as you look for trade opportunities in the market as it can help you better time your entries.
This is not investment advice so please do your own due diligence!
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TQQQ next target 121. RSI and price support achieved. Those who have followed my last posts on shorting hopefully have made some $$. We have had 4 great swing days down. Tomorrow let's swing our partner back up after that 4-day dip.
We should bounce tomorrow and start climbing to achieve our next high around 121 to complete wave 5. Divergence on price and rsi with charts lining up perfectly to support our next high. Catalyst will most likely be approval of Government stimulus or decrease of long-term Treasury yields that will give it enough of a push to the next high around 121 before plunging to new lows. This could be a slow up and down climb that could take the majority of the year before we crash!!!
This is NOT investment advice. Please do your own due diligence!! Questions or comments welcome.
TQQQ , Trend following setup , Long We seem to have found support on this trend line for the time being . Also we beat expectations for LEI report today , which I think provides us a good chance market will move back up from here . Not to mention , DOW, NASDAQ and SPY are all in confirmed up trends on their 15 min charts as I write this.
Taking all that into account , I like the risk reward odds on a TQQQ long, initial target is marked on chart but after this passes a 1 to 2 risk to reward I will start adjusting my stop to protect profits. I will trade this as trend following setup rather than a swing .
Good luck ~
TQQQ Call Credit Spread - Apr 01I bought a $130 Call dated Apr 01 for $85 today, Feb 22. It is perhaps 2 weeks too early, but having this call at such a cheap price will enable me to use it to open a call credit spread in the weeks to come, following TQQQ's rebound to around $105 by March 05.
TQQQ Put Credit SpreadMy plan was, "in order to leg into iron condor - will initiate put credit spread for 90/85 for March 05 , 2021 if price drops below $100 per share." Now I am doing the other leg of the iron condor.
Current share price ~$98. I opted to do a put credit spread for March 05 , 2021 with sell price of 90 and buy price of 85 (85/90). Total credit received: $75 per spread contract. Total risk: $425 per contract. Expect price to recover.
Minor Regret: I wish I had bought the $85 side of the put credit spread when the price of TQQQ was still $108 because it would have been cheaper.
TQQQ Next stop 95! Charts don't lie!!Some great 5% shorts the last 2 days. Rinse and repeat. Tomorrow we are looking for it to touch at least 100 maybe 95. The big guys that move the market are slowly bringing this back down to reality. You can see the green down candles, the last two days. Definitely a pullback, but could be more.
I marked two key areas on the chart that will likely be hit tomorrow (price point and RSI).
Charts don't lie, so do not be fooled by the big boys manipulating your thoughts through the media and forums. Be careful what you read. There is most likely a motive. This year is a perfect example. Try learning before paying for a service. To win you have to learn and be disciplined.
Please do your own due diligence as this short is for my current situation. Question or comments are welcome.
Trade to Win!! Protect your profits!! Hard work = Good Luck
TQQQ if you don't short you might be in for an atomic Wedgie!!!Since Sept TQQQ looks like it's formed mini Wedge patterns inside possible Wedge ready to Form. The downside is calling to complete this atomic Wedgie Sandwich!!! Don't be tricked by the long play or the atomic wedgie will hurt!! This is only an incredible idea so please do your own due diligence! Comments welcome!
Listen to the TQQQ Megaphone "SHORT ME"Looking at the TQQQ hourly chart, you will notice that the megaphone is showing reward to the downside around 56. The upside is limited to about 114 area. What is the logical play? Comments?
Also the Yearly RSI is touching 80. What happened last time yearly RSI touched 80? Feb 20, 2020, Sept 2020 Kaboom!
Please do your own due diligence these are just fantastic recommendations!
Finally!! Clearest Picture on TQQQ yet! Follow the Money $$!!!TQQQ Wedge forming bouncing off resistance. Next spot $$$$!!! Please do your own due diligence this is just an amazing idea!!! Comments welcome.
TQQQ Call Credit SpreadCurrent share price ~$108. Rather than risking being exposed to holding shares of TQQQ and doing covered calls, I opted to do a call credit spread for March 05, 2021 with sell price of 115 and buy price of 120 (115/120). Total credit received: $146 per spread contract. Total risk: $356 per contract. Expect price to cool at this point. In order to leg into iron condor - will initiate put credit spread for 90/85 for March 05, 2021 if price drops below $100 per share. Form hypothesis for next iron condor after March 5th.
Using my LOC EffectiveThis was a two trade day. It went very slow but I gave enough room to let it breath. I had a little difficulty in the beginning as I was questioning myself of getting in.
TQQQ Pullback, 4 - 10 or 27% - Feb2 Confirm or Reject Wave 5Qs have about 4% to go to hit the 50 Day Moving Average, about 10% to hit the 200 Day, and 27% to hit the 2008-2020 Uptrend line.
Wave on 5 Day:
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
TQQQ heading lower?The break below the lower trendline and bearish divergence of RSI giving indication that TQQQ and tech might be heading lower short-term.
