Swing Trading is a Long GameThe election has been a sorrowful event for anyone shorting out there. However, last month started terribly for me as well but actually ended up 32%.
TQQQ trade ideas
TQQQ Diamond Tops bearish reversal patternTQQQ is “possibly” displaying a Diamond Tops bearish reversal pattern. Good luck and happy trading friends...
Buy low, sell high on TQQQMeasure bands around TQQQ and issue a buy when the price drops down and sell when price spikes up very fast.
TQQQ uncontested election could be problematic for marketsThe main key indicator that will dictate the next few days is how fast a winner is declared. If we can get a winner tonight, it doesn't really matter who, then we can continue this rally. If there is some uncertainty in the next few days, be prepared with VIX. Copyright Rohan Karunaratne 2020
TQQQ target 130 as part of ABC retracementTQQQ beginning to consolidate around 116, could potentially begin a retracement to 130 before heading back down into the low 100s. Copyright Rohan Karunaratne 2020
TQQQ Long Set UpAs the elections close in and COVID spike the nasdaq will continue to fall. Money is moving from over priced tech into cyclical stocks. The likely Biden win might cause a short term drop down to the 200 day SMA. This coincidently is going to line up really nicely with the september lows. After a quick drop expect this rally continue into the biden presidency. Remember, when looking at the last 30 years democratic presidents have out paced their republican counter parts in terms of Index growth. As long as the transition of power doesnt get tied down in the courts creating uncertainty ride the bounce.
If Trump wins this isnt invalidated. There are still many lock down concerns and with the continual denial of the Virus there is still plenty of fear in the market for another lock down but investors like the trump market so until then the rally shall continue.
Either way this sets up for a very nice long.
If the 200day breaks go short.
Trends in Biden Trump election ... odds helping democractsTrends in Biden Trump election ... odds helping democracts
TQQQ - Soon to Cross a Line - Expecting DownwardTQQQ was an amazing run to 9/3 the past 8 years, but...all good things come to an end.
I'm expecting a 3rd test and break below the support line and a drop towards a 33% correction from the 9/3 high (175.92, and crazy drop that day), putting us somewhere around $118 before we start the rebound.
33% / 8 year average correction in market overdue (Upward from 2008-2020, unless COVID/March counts).
I believe we're on a Leg C EWAVE correction. Waiting patiently for signs we've reached a bottom to jump back in.
MACD crossover on 10/12 and RSI Spike indicate we hit the high and are headed down.
*NOT FINACIAL ADVICE - NOT A FINANCIAL ADVISOR*
TQQQ bearish interpretation, key levels to watchNew lows today, opens possibility to seeing lower lows, and a continued trend down in the coming weeks, while I still am long on some NAS names, I do not see any short term catalyst other than stimulus that can take us out of the rabbit hole. This is not investment advice, but I am taking measure to cut back on some net green positions, and look out below. Key levels to watch are 120 on TQQQ, 116.5, and 112. We could also see new lows around the 100s. Copyright Rohan Karunaratne 2020
Hedging short equities positions with $TQQQOne of two things will happen:
Many puts will be OTM, we rally
- I will consider closing positions whether they are in profit/loss or roll over
The PC ratio will continue to push forward
- I lose a bit on this but net profit on overall positions
Could this be a cup handle formation on the TQQQ?I'm a newbie to all this and I've been reading a lot about cup and handle patterns. This looks like a strong breakout to the up side for this ETF, what do you guys think?
TQQQ Trends heading toward US Elections and Black FridayI anticipate the elections to continue to exert downward pressure on TQQQ as forecasts predict an administration that is less business-friendly will take control, and begin legislating an environment that is less supportive of profits and rapid growth. I suspect a bear condition on TQQQ and the broader tech market to persist into the new year, and think short positions or inverse positions are likely the spot to be for the foreseeable future as it relates to tech.
TQQQ invalidation of last breakout count, consolidation neededOver stocks toppling today, last breakout scenario was broken. I personally added to some of my longs, and hedged more in GOLD and SLV, so hopefully if we continue to topple more, diversification should help. Additionally, DIA and SPY took way more of a substantial hit when looking at the overall indexes, if anything is going to recover first, its /NQ and TQQQ. Copyright Rohan Karunaratne 2020.
TQQQ successful break of trend, looking for a hold above lineWe were kind of left on a cliff hanger today, /NQ decided to try to run going into the close, and broke the trend line that was descending. Hopefully we can see that run continue into next week, and create a reversal opportunity. Copyright Rohan Karunaratne 2020
TQQQ - Hopin' to eek out a little at 141.25 then say goodbyeI see a downward channel the past few days on TQQQ and QQQ, an corresponding upward channels on SQQQ
Resistance around 135.40 on the downside.
Breaking move Up or Down out of trend coming soon.
Morning delight as the market rises, followed by afternoon drops seem to be the norm these days.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
TQQQ false break to the downside, still targeting 145Not the best move in the morning hours, got a fall to around the 134 region, but later in the day managed to climb back into our bullish range. My long positions still stand with the targets unchanged, I dont think the slight drop was an indication for a bearish case, if it continued lower, I may have contemplated going short. Copyright Rohan Karunaratne 2020
TQQQ Scalper PatternThere seems to be a pattern here. When a strong sell signal is followed by a buy signal, there are strong gains over the next few weeks. Also notice the Supertrend buy signals on 6/23 and 10/12. 6/23 was followed by a loss of ~15% followed by a 100% gain. 10/12 has now also lost ~15%.
