TQQQ trade ideas
TQQQ Headed for the 5th wave?3rd to 4th retracement has reached around 28%. Are we heading to final low now?
OPENING: TQQQ MAY 17TH 28 SHORT PUT... for 2.65/contract.
Notes: High rank/implied. I'm generally not a big fan of leveraged, so am going small here, 16 delta. Break even at 25.35 if assigned.
Market direction will be determined on next MondayWe are seeing two gaps on TQQQ chat:
1. 38.000 - 40.130 happened on 03/23/2020
2. 46.858 - 45.720 happened on 03/31/2020
Market will find its direction sometime next week. Very likely will be on next Monday.
Bearish wedge on TQQQ ETFOn the ETF: TQQQ a bearish wedge developed and the price broke it today. The wedge has two maximum points and three minimum points. The take profit target is the base of the wedge, the yellow line, and the stop loss price is the last maximum point
XOP ETF at a historical extreme!The XOP ETF has been shattered and we have gone below levels back to 2008-09 on our Short Term Oscillator. This sets up a potential snap back rally as the rubber band has been stretched to the downside to an extreme level. We don't give financial advice so please do your own research.
TQQQ Bear momentumBear momentum going strong.
As everywhere begins to shut down, I'm afraid we have a long way to go...
***Not a trading advise, invest at your own risk. Will not be held accountable for your actions. Consult with your financial advisor.***
Update on TQQQ ETF CrashWe posted an article on Feb 10th 2020 on our site called "How to Avoid Big Losses Trading TQQQ ETF". We said the TQQQ ETF was at extreme levels above the Weekly 200 DMA and that we ultimately expected a move down to the 200 DMA. We have now hit that target.
TQQQ is heading to 31 levels, bear market is on?As we can see, resistance on fib 0.618 is broken and now we are testing MA200, this in past was support point but I think it will be broken soon, and next target to test it is around 31, where also fib 0.786 is, and I think we already lost Bullish trend and we are now entering a bear market. Maybe, we will have short relief with some great news, but I assume tomorrow, Friday, before the weekend we will have great selloff again and we will go further to 31-32 levels.
At that levels we have some stronger resistance, but not sure will that be a bottom.
Disclaimer:
- this is not any kind of trading advice
- I am a noob, this is for my learning and training purposes
Comments are appreciated.
TQQQ ETF Oscillator still declining despite price bouncing!We have overlapped our oscillator on top of price and our oscillator is still declining despite the bounce from the last few days. This will not last long so either price catches down to the oscillator or price needs to explode higher to pull the oscillator higher.
We expect the TQQQ ETF to turn back to the downside!Our Proprietary Oscillator has moved down below the zero line and the lower Bollinger Band continues to move down which would suggest that the TQQQ is going to turn back down.
Understanding decade NumbersShort term and long term support and resistance lines at decade numbers.
TQQQ: On its way to test next cloud support levels :73.10/61.60!TQQQ: On its way to test next cloud support levels :73.10/61.60! TQQQ is dow more than 30% since the sell signal!
TQQQ - Go long for the bounceMy 50DMA short script (still on the process of backtesting) worked. After the price sat on the 50DMA, it just broke down and now sitting on the 78DMA.
Maybe I can go long on current market orders at 89.15. Stop below the lows of the two bearish candle of 87.15. Target price around 105 levels just to close the gap. If price continues to slide down, I can re-enter at the midrange, 79.86, and still have a target of back filling the gap to 105.
Call me doctor QMight sneak into a position here.
3x exposure to Nasdaq 100.
3 X the percentage of Ndx. -Remember that.
NDX Current percentage change : 0.44%
TQQQ Current percentage change: 1.15%
TRADE IDEA: TQQQ MARCH 20TH 80 MONIED CCMetrics:
Max Profit: $239
Max Loss: $7761 (assuming underlying goes to $0)
Buying Power Effect (Cash Secured): $7761
Cost Basis In Stock/Break Even: $77.61
Delta/Theta: 15.11/4.43
Notes: High implied volatility underlying (56%). I don't play leveraged products as a general matter, but will dip at the well with a conservative setup like this that has a high probability of profit (the platform says 87%), particularly if I'm not doing a ton of other things and have the buying power to deploy. The ROC isn't great in cash secured (239/7761 = 3.1%), but will take it if I can get it over a 60 day period of time.
