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QQQ trade ideas

QQQ is showing to be rather volatileQQQ is showing to be less predictable and prone to false breakouts Last week QQQ performed a two day long false breakout above before retreating Today we see QQQ again break below its downward trend. breaking below a downward trend is usually followed by a course correction back into the normal trading zone QQQ is proving to be volatile and thus difficult to define when a trend is actually reversing or just another fake out that takes our money.
NASDAQ:QQQShort
by ratchet-mint
QQQ more downsideQQQ and the broader markets are correcting as expected. NVDA was tremendously overvalued. Many companies are selling off into value zones at this point as the Mag 7 continues to bleed. Look back at my retrospective QQQ chart and how it perfectly corrected at the golden ratio. I expect a bit more downside here, September is typically the worst month of the year for markets. -My target before Sept 21st is 444$ -The 50 EMA will likely rise to the red dashed line or close, we could see a wick to that region in the next 2/3 weeks -I expect a retest of 500ish by end of year
NASDAQ:QQQShort
by Apollo_21mil
QQQ forms horizontal support line QQQ has sold off quite a bit over the past 2 weeks. We are now starting to see consolidation as selling pressure reduces Horizontal support line starts to form after sell off Still within downward trading range Could be stock is taking a breather before more selling continues September and at times October are notably bad months of the year We are seeing a settling right now, but we still are in a downtrend and the beginning of a historically bad month.
NASDAQ:QQQShort
by ratchet-mint
QQQ: Last Chance to React - Major Support Levels.Since our last study of the QQQ, the ETF has reached the support points we described earlier, and now its price is trying to stabilize, but we have yet to see a promising reaction. Looking at the daily chart for QQQ, we can see that after reaching the resistance zone near $484.43, the price has sharply declined, retracing towards the 38.2% Fibonacci level around $460. The 50% retracement level around $453, followed by the 61.8% level near $446, may act as critical support levels if the price continues to weaken. The 21-day EMA is currently acting as dynamic resistance, and only a breakout of this key point would bring somethihng new on QQQ, as it will enter bullish territory again. On the weekly chart, the price remains within a well-defined ascending channel. The recent rejection near the upper boundary of the channel shows that this trend remains intact but could be vulnerable to further downside corrections, especially if the price cannot hold support at the lower Fibonacci levels. The 21-week EMA is still trending upward and should be watched closely as a potential area for support in the medium term. In summary, QQQ is showing signs of weakness after failing to break resistance at $484.43. With Fibonacci retracement levels providing near-term support, we should watch for a possible breakdown below the 38.2% level, which could lead to a deeper pullback toward the 50% and 61.8% levels. If support holds, the price could attempt another push higher, but the 21-day EMA needs to be reclaimed for the bullish trend to regain strength. Therefore, it feels like this is the last chance for the QQQ to react, otherwise, we may see a sharp correction ahead. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:QQQ
by Nathan_The_Finance_Hydra
2
QQQ in correction - How low will it go?QQQ lost the 20 day SMA yesterday. History shows that there is a very strong probability that it will go lower. Today say it hold at the support of the AI-based rally over the last year or so. It broke through that the other week, but then we say the strong rally. I noted back then that it felt like a dead cat bounce counter rally to me. Looks like it is proving to be true. It is going to be tricky knowing where this one will stop. I previous posts I noted that red trend line a critical level and that is where we saw the dramatic bounce start from. I am sure where this one will stop. QQQ is usually very bullish and the second of two corrections can often be less than that first. I am looking at that red trend line again, the 200 day SMA, as well as the center of the trading channel.
NASDAQ:QQQShort
by Dr_Roboto
Weekly Patterns: Key Insights to Improve Your Short-Term TradingBy analyzing 150 weeks of OHLC data from the NASDAQ:QQQ , two important patterns emerge for traders operating in shorter timeframes (15 minutes, 1 hour, 4 hours). The behavior of the previous week's candle provides valuable insights that can help traders better align their strategies with the broader market direction, avoiding premature trades and capitalizing on the prevailing trend. Key Insights: After a Negative Weekly Candle (Close < Open): There is a 70.31% chance that the next week's low will be lower than the previous week's low. The chance that the next week's high will be higher than the previous week's high is only 39.06% . After a Positive Weekly Candle (Close > Open): There is a 77.65% chance that the next week's high will be higher than the previous week's high. The chance that the next week's low will be lower than the previous week's low is only 27.06% . What Does This Mean for Traders in Shorter Timeframes? 1. After a Negative Weekly Candle: This pattern suggests that while the low of the previous week has not been broken, traders should be cautious with long trades. There is a strong statistical expectation that the low will eventually be broken during the week when the previous weekly candle was negative. Traders should be more conservative with bullish setups, as there is a higher likelihood of a downside move. 2. After a Positive Weekly Candle: Similarly, when the previous week's candle is positive, while the high of the previous week has not been broken, traders should be cautious with short trades. There is a strong statistical expectation that the high will eventually be broken, given the 77.65% chance of the next week's high being higher. This means traders should be more conservative with bearish setups, as there is a higher likelihood of an upside move. When Do These Scenarios Have Lower Expectations? An additional pattern observed from the data is the occurrence of outside bars, where both the high and the low of the previous candle are broken in the same week. In the last 150 weeks (approximately 3 years), this occurred in only 22 weeks (14.67%) . This means that after one extreme of the candle is broken, it becomes less likely that the other extreme will also be broken within the same week. For example, imagine that the previous weekly candle is negative and, during the current week, the price breaks above the previous week's high. In this situation, the probability of the low also being broken, as initially expected, becomes much lower once the high has been breached. This insight helps traders adjust their expectations during the week. Once an extreme (either high or low) is broken, it signals that the probability of the price reversing and breaking the other extreme has diminished. Therefore, traders should reconsider their positions and strategies based on this shift in probabilities. Practical Application: Scenario 1: After a Negative Weekly Candle Imagine the week has just started, and the price is trading above the previous week's low. Even if your system generates buy signals in smaller timeframes, this 70.31% chance of a lower low suggests you should be cautious about entering long positions too early. The market is more likely to break the previous low, so it's advisable to avoid aggressive buying until that expectation is fulfilled. However, if the high is broken first, the expectation of the low being broken decreases significantly. Scenario 2: After a Positive Weekly Candle In the case of a positive weekly candle, if the price is trading below the previous week's high, this 77.65% chance of a higher high suggests you should be cautious about entering short positions too early. The market is more likely to break the previous high, so it's advisable to avoid aggressive selling until the high is broken. Similarly, if the low is broken first, the expectation of a higher high diminishes. Summary: - After a negative weekly candle, focus on downside setups and be cautious with buying until the low is broken. If the high is broken first, the probability of the low breaking decreases. - After a positive weekly candle, focus on upside setups and be cautious with selling until the high is broken. If the low is broken first, the probability of the high breaking decreases. By aligning your trades with these weekly expectations, and adjusting when one extreme is broken, you can better anticipate market movements and improve your decision-making process in shorter timeframes. Enjoyed this analysis? If you want more insights like this to improve your trading and make more informed decisions, follow me here on TradingView! I regularly share detailed analyses and data-driven strategies to help traders at all levels. Don’t miss out on future posts – click Follow and give this post a boost to support the content and ensure you stay updated with weekly insights! Disclaimer: The information provided in this analysis is for educational and informational purposes only. While the insights shared are based on historical data and patterns, it is essential for traders to conduct their own research and due diligence before making any trading decisions. The market is unpredictable, and past performance does not guarantee future results. Use this information as part of a broader strategy and consider your own risk tolerance before entering any trade.
NASDAQ:QQQ
by LuccasChartRoom
BUY THIS DIP QQQ / NUMEROLOGY 9.4.2024 AM as you can see the Fibbs line up flawlessly with the gap. It might drop down and retrace just above the gap for a swing yet looking at the numerology this level would equal 8 which would be the money as well. These are some basics and although September has started red it will end green. As always wait on CONFIRMATION before any action, patience with perfection and a plan always wins. For a much more detailed outlook, don’t hesitate to ask. LUP_247 Have an awesome day!
NASDAQ:QQQLong
by L_UP_247
QQQ falls back into bearish territoryQQQ past breakouts above shows it was false by selling off in a massive way with strong volume Failed to hold above new support downward trend Failed to hold above major horizontal support line closed with hammer candle on high volume. This last item we dont expect to be a major turned around point back to bull. It should just be rise back up horizontal resistance before selling off again Comparing with SPY we see that it has now for the first time broke its flat trading today and break below key support with strength. The confirmation between the indicates the bears are back in control
NASDAQ:QQQShort
by ratchet-mint
QQQ Long/Short Idea - Top 5 Weekly Trade Ideas #2We saw a $6.5 MOC buy side imbalance on SPY last Friday, which led to a huge spike into close. QQQ had over $2 billion as well I believe. I don't think you can read much into the MOC movement, it's only good if you want to trade the final 10 minutes IMO. We'll see how it plays out, but as of now I believe the pop before close due to MOC will be retraced shortly. Either way, I see a great setup on QQQ here, whether it ends up being short or long. QQQ had a nice bull flag breakout and even held on a retest. However, it has struggled a lot around the 477.75 area. If it is able to reclaim, I'd expect a squeeze to ATH at minimum. This level should lead to a decent sized move, whether the direction is up or down. I'll be looking for a break of 477.75 and a retest for a long. If it fails after all those attempts last week, I'd expect it to fill the gap below at 463.63.
NASDAQ:QQQ
by AdvancedPlays
QQQ EWT DIAMOND pattern, top formationThis is the same idea as my post about the ES, but for the Q's. I have included a textbook diamond pattern from a medium turn ATH, series... We can learn from history or burry our head in the sand. This pattern is NOT a inverted, V shape recovery", it is a series of complex elliot waves, creating a intermediate term top. We may see a new ATH on Tuesday when the market opens, but it won't stop this pattern. IMO. everyone has called the top for years, but I think this actually IS a top area. If you want to learn more about that major top go back in my Ideas to 01/22 and prior... In november 21 to april 22 the first diamond pattern formed and I suggested a strategy o shoring any new ATH, it worked I made $3000 in SQQQ over 3 months. In 2020 I declared, in an Idea that the entire year of 2019 was a 4th wave, and predicted a set of 5 more waves up, and a major ATH, it happen just like i said it would. I use a long/short strategy of 60 " candles buying Pivot S5 and Selling Pivot point R5. It's not a simple short.
NASDAQ:QQQ
by dryanhawley
2
QQQ gives more strength to its bullish turn aroundToday QQQ started with another gap up breakout for the 2cd day in a row. Stock retraced then rallied again in the late day. Stock gapped up again doing another breakout weakening the week long sell off trend. Retracement that was expected sold off less and at slower pass than the day before Late day smart money jumped in and pushed the stock to higher highs Volume experienced a massive spike in last moments of trading which can be indication of price exhaustion. This should cause a temporary pull back next trading day Overall the bull thesis for QQQ is getting stronger each day.
NASDAQ:QQQLong
by ratchet-mint
2
QQQ looks to break into bullish territoryQQQ again breaks out above the longer resistance line to test new more bullish grounds For the second day in a row QQQ breaks above the long term downward resistance line This breakout is accompanied with increased volume over yesterday while trading in the higher zone RSI breaks above SMA during this time RSI's SMA been flat to trending slightly updward The bulls are looking to be taking over in the near future showing further weakness in this sell off.
NASDAQ:QQQ
by ratchet-mint
QQQ shows a reversal is nearQQQ experienced a number of turning points showing increased weakness in the sell off we have been seeing over the past week. False breakout to the upside Strong growth in volume confirming the breakout direction Hammer candle on close indicating reversal maybe coming after later day retracement RSI breaks above SMA line for first time This change in direction we have seen today with a new interest from the bulls shows that ever selling we experience going forward will likely be tested by the bulls again. For trend traders I would recommend sitting on the side lines until we see a stronger trend form either to the up or down side. This current down trend is showing weakness.
NASDAQ:QQQ
by ratchet-mint
How I used Volume Spread Analysis to avoid FOMO trading!As a trader, I often battle with the fear of missing out (FOMO), a common pitfall among traders that can lead to impulsive, unprofitable trades. After reviewing my journal, I determined that chasing breakouts was costing me a significant portion of my account, so I studied Volume Spread Analysis (VSA) to help me reduce my urges. Here is how is used VSA to avoid FOMOing a trade. Before we get started, let's clarify two definitions: Volume: Measures the number of times buyers and sellers exchange 1 unit of an asset at an agreed-upon price. It doesn't inherently indicate whether a trend is bullish or bearish, but rather that a trade has occurred. Low volume suggests that few transactions have taken place because buyers and sellers couldn't agree on price. High volume suggests that buyers OR sellers felt they were getting a bargain at the current price, leading to many transactions. Spread/Range: The difference between the high and low of a candlestick. A narrow spread indicates little variance between what someone is willing to buy for and what someone is willing to sell for. A wide spread suggests that buyers and sellers have significantly different ideas of what the fair price is. In short, Volume Spread Analysis (VSA) interprets the relationship between trading volume and candle spread. When volume and spread agree, they are considered harmonious, and the trend will probably continue. If volume and spread disagree, there is a divergence, and the trend may be weak or could even reverse. In general, there are three main harmonious conditions: Narrowing spread should have narrowing volume. Average spread should have average volume. Widening spread should have widening volume. I spotted a bear flag consolidation on QQQ and decided I would trade the breakout to the downside. I took a break and came back to the chart just after the breakdown had occurred, missing my ideal entry. The candle spread was widening and my first thought was "I have to get in! This thing is free falling!" PAUSE! I reminded myself that I cant make every dollar in the market. If I miss this trade, there will always be another. "Be patient and wait for the market to come back to you." This is the chart after the initial break. What can we observe? QQQ broke the low of day with high volume and a widening red candle. Based on our definitions from earlier, we know that high volume means that buyers or sellers think they are getting a bargain so they are willing to transact as much as they can at current price. Given that price is falling, we can assume that the volume is due to aggressive selling. We remain patient and continue to watch for something to trade against. Next, we see a narrower range candle with a long lower shadow and above average volume. By definition, strong volume with a narrow range is a possible divergence. We know that narrow range candles mean that buyers and sellers generally agree on current price, but why would it close near the highs if the selling was so aggressive? Given that there is a long lower shadow and then a bullish candle close, we can infer that sellers were not willing to sell below $467.89. The buyers absorbed the selling at those prices. Fast forwarding, we notice that the volume and candle size has shrunk back to the average meaning buyers and sellers are in agreeance. The number of people willing to transact is decreasing. We also notice that a small range has formed. Buyers have not stepped in to buy above the previous low of day at $469.35 and the sellers have shown no effort to get back below $467.89. Now we have something to trade against instead of FOMOing in! We will look for a break of this range with increased volume. On the next candle we see bulls break out of the range with aggressive volume and a wide spread candle. Something of note is that the volume on this bull candle is less that the volume of our initial sell candle. If those sellers were still present, wouldn't they be selling at these higher prices and forcing the candle range to be narrow? This shows us that bulls are now in control and the selling from earlier was just a hoax. As we can see, the rest is history. If I FOMOed into the short as I had planned, this trade would have resulted in a loss. Being patient allowed me to realize that there was nothing to miss out on and actually allowed me to find a better trade. Key Notes Always journal your trades and review them Never FOMO into a trade. Be patient and wait for the trade to come to you! You dont need to take every trade to make money in the market. It is okay to miss a trade if it means protecting your account. Volume spread analysis is not 100%, but it can be useful in determining the strength of a trend.
NASDAQ:QQQEducation
by Decam9
31
QQQ showing more selling to comeQQQ throws signals that bears are still firmly in control and the downward trend should continue QQQ tests major resistance line, fails to breakthrough During recovery in late day trading volume steadily decreases showing disagreement in recovery After hours shows a significant sell off which has recovered some since. RSI falls in step with price showing no signs of reversal coming Next major support line is around 463 Today marked the first day of strong downward trading breaking through support and holding. We are looking at more selling to come
NASDAQ:QQQShort
by ratchet-mint