TQQQ trade ideas
More room to run in TQQQBullish heiken ashi close for entry signal
I got about 2/3 of the position I wanted to and it continued to run after hours.
Sell signal is first red heiken ashi or we will sell 10% of position at 190.52(+4% gain). Additional take profits at +6%, +8%, +10% and +12% if we get there.
Tomorrow, if at any time we go below today's close (183.19) but stay in a bullish daily heiken ashi, I will add more.
US Index ETF - TQQQ REMAINS STRONG AND BULLISHAFTER Pence announces Biden's victory after Congress completes electoral count, MARKET HAD SHOWN STRENGTH
TQQQ long term off March lowsSimilar story to the QQQ etf, looking for the final wave 5 leg to take us anywhere in between 190 and 220. After we expect a macro correction in the overall markets.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2020
Ain't looking good..Rising wedge pattern on daily chart. Support lines are green.. if 164 doesn't hold , Tqqq will do a double top into 157.. Maybe fears of new covid strain will bump fang and prevent this
TQQQ target lowered to 190, completing micro and macro 5 wavesSimilar chart as QQQ, modified from standard impulse, to ending diagonal, with a target of 190 now. After this, we expect a macro correction in the market.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2020
Maybe should wait a little, take some profits if you haven't1) Solid run up in the beginning of December. Q4 is historically bullish while Q1 is historically bearish.
2) Tested the lows, nothing big. Good rebound.
3) Once is chance, twice is a pattern. There's another retest on high volume, but again a good a bounce.
4) No new highs. It's difficult to tell if it was just low holiday volatility or something else.
5) And now we have the third high volume drop at the start of Q1, a historically bearish quarter.
I'm not a fan of shorting the stock market because it's on a 100 year uptrend, but I think it's best to sit out for now. The rises are weak while the dumps are heavy. I'm expecting sideways movement before another uptrend. Stay safe!
TQQQ - Relief rallyHarmonic pattern.
Good chance of a bounce here and a rally.
Bearish ending though
TQQQ long swing trade entry off- heiken ashi strategyShortly after bouncing off the 21 day moving average, we got a buy signal.
Closing price was 164.74
1st Take Profit (10% of position @ 4%) = $171.33
2nd Take Profit (10% of position @ 8%) = $177.92
Exiting on 1st red heiken ashi or 9th green. No stop loss, chart shows 12.3%, this is max single trade drawdown of this strategy from 2010-2020, in order to show max risk.
TQQQ completed 3, potential to retest 170, target 190Sorry for the confusing wording, I basically think that the low put in intraday Friday can be considered a completed 4th, or potentially, we can try to retest those lows before filling out wave 5.
Copyright Rohan Karunaratne 2020
End of year Big ShortTQQQ is ending a corrective structure. The High is at hand, get ready for the big short.
TQQQ Retest/RemountTQQQ is a leveraged ETF for the Nasdaq QQQ. The QQQ's have retested previous breakout levels and have now remounted back above that level. This is a bullish sign and indicates that there may be a run up back to the previous high next week.
TQQQ wave 4 retracement right on the money, target 160Im in at 160, target 188 for wave 5. Copyright Rohan Karunaratne 2020
