TQQQ trade ideas
$TQQQ Analysis, Key levels, and Targets $TQQQ Analysis, Key levels, and Targets
Ok, tonights Buy order @ 17.48 that expires Dec 5 is in…
All other open orders:
Buy @17.64 exp. Dec 1
Getting set up for the next swing... 💃🏻
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If you used the strategy I did a bunch last year and the year before that then this will look similar…
Basically every night I will be updating the new buy order for the next day… each day I will be adding 10 shares at the buy level (please modify this to your account size if you want to play, there is nothing wrong with trading one at a time until you see how the strategy works)
I will be using options at levels where I see fit but right now I’m losing out on some really great opportunities by not having these orders in place like I used to…
And if you guys haven’t seen this strategy before… you’re in for a treat… it might take a few weeks for you to see what I’m doing but once you see you’ll see how easy it is…
Always make sure to select GTC (good till cancelled) on your buy orders, and you might have to select advanced order to add an expiration date to your order.
And have fun, y’all…
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ALSO… I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
TQQQ Bull in full control?So if your not familiar with elliot wave here's a super quick summary.
There are 5 waves and after the 5th wave is complete u have a strong pullback correction which could retrace 50% - 61.8% of Wave 1 and 5
Wave 2 and 4 are corrective waves. 3 and 5 are motive
The 2nd wave can retrace up to 90% but not past the start of wave 1
The 4th wave correction is usually 23%- 38% but no more than 50%
I believe we have completed the 3rd wave and we are currently in a correction phase, Wave 4. If u look at the chart it's pretty clear we are still in a correction and i believe this is why traders get trapped because they assume this rally will continue.
I think the correction pattern we are creating is the regular flat pattern. They are mostly seen in wave 4
-Wave B = 90% of wave A (Currently 90%)
-Wave C = 61.8%, 100%, or 123.6% of wave AB (Currently at 100% but with this 5 wave move we should be around the 123.6)
The regular flat is constructed as follows
(A) is a (ABC structure)
(B)is a (ABC structure)
(C)is a (5 wave structure)
As u can see we are currently on the 5 wave structure
Indicators
TSV- showing major signs of weakness
PVT- Buying pressure has stalled
MFI- Overbought (Keep in mind this can stay overbought for a while in a uptrend)
ADX- Strong uptrend (This is why i believe we have a wave 4 and 5 left)
Thanks
Godbless
WARNING WARNING WARNING TQQQAlot to cover here but this is what i'm seeing
1. Remember we are still in a downtrend on higher time frames so be careful.
2. We talked about a potential bounce in my last post and we got it.
3. As of right now we are in a wave 4 which usually has the longest lasting pullback, we are forming a bullish channel or bear flag and if we break this bottom channel the target puts us at the exact wave 5 target we talked about 2 weeks ago
4. On the 4 hr we are creating a inverse head and shoulders that is pretty obvious, if we can maintain this bullish channel up to the neck line and break our target would be $28.50, (61% fib retracement )if this occurs that would mostly like mean our wave 3 could be a wave 5 where we would get that deeper retracement.
5. Indicators ADX is telling me this long push up has lacked momentum we are below 25, (bearish) PVT has gone flat while price continued to move up (bearish)
Thanks
god bless
$TQQQ Analysis, Key levels, and Targets $TQQQ Analysis, Key levels, and Targets
Ok… So… I’m super excited to get back to one of my old strategies, but slightly modified… If you used the strategy I did a lot last year and the year before that then this will look similar…
Basically every night I will be updating the new buy order for the next day… each day I will be adding 10 shares at the buy level (please modify this to your account size if you want to play, there is nothing wrong with trading one at a time until you see how the strategy works)
Anyway, so tonights buy order for TQQQ is 17.64 x10 and this buy order expires on Dec. 1st…
Once the buy orders start filling I’ll be posting the sell order targets… but right now I don’t have a position… (I closed out my TQQQ position today for a small 6% profit)
I will be using options at levels where I see fit but right now I’m losing out on some really great opportunities by not having these orders in place like I used to…
And if you guys haven’t seen this strategy before… you’re in for a treat… it might take a few weeks for you to see what I’m doing but once you see you’ll see how easy it is… 💃🏻
Don´t like TQQQ rnHey guys, TQQQ seems to be in a very dangerous spot, moving averages are probably going to take this much lower. I've shown on the chart everything possible i could happening however, with the Russia news i think a lot of whales are going to be getting out. Weak hands. My PT is around 19-21 then perhaps consolidation before a spike in stock price, exercise caution everyone.
Let me hear it!! so i shorted TQQQ today.. not the best entry but definitely not the worst.... what do yall think am i gonna get stopped out or hit profit?? FYI i had no idea the PPI report was coming out tomorrow
Possible Regular Flat WAVE 4 • A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave C generally terminates slightly beyond the end of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
These are the guidelines for a regular flat
If you would like to learn more here's the link:
elliottwave-forecast.com
TQQQ ahead of fed meeting 11/2/2022Traders it's gonna be a exciting week, so start preparing now.
There is potential that Wave 4 is not complete and we could move up towards the 50 or 61 % fib level, mind you those levels are not typical in a wave 4 especially with a extended wave 3 but it can happen.
On wednesday the fed will announce the next fed rate hike, i don't see the market making big changes until then, if they announce another .75 hike (which is likely), i see the market selling off. If they announce a .50 or they talk about being less hawkish in the future i can see the market selling off initially but recovering fast just enough to break the ascending trend line or maybe retest our support at the $20 range. This will liquidate long positions and open the door for big money.
Now obviously i'm not against idea of new lows i think it's very possible but it's important to always have a plan B, If we start getting rejected off the ascending trend line with good volume i'll be looking to short. If we break above the neck line with good volume i'll be looking to long. Volume is critical here, if you see large candles but lack volume there's a good chance its a fake out.
If yall have a different opinion i would love to hear it.
thanks God bless
“If you fail to plan, you are planning to fail!”
― Benjamin Franklin
Take profits, Prepare for possible BULL trapwww.tradingview.com So just a friendly reminder that we are still in a bear market so be extremely careful trading against the trend! I closed my long position a little early to manage risk.
This is what i'm seeing, the last few large candle sticks have lacked volume behind it, which means we lack BIG money.
TSV showing signs of weakness and bearish divergence
MFI has went over sold and in the past this marked a pivot point to lower lows
Let me be clear i can't predict the market all i can do is prepare for it.
The area we are in a happens to be a strong resistance are, we also had a very strong run up without any pullbacks which concerns me. I can't say forsure if we will see new lows but at the very least a good pullback to previous support which is $19.50 area
Elliot wave calls for another wave down but elliot is not always perfect you have to adapt to the chart and find where u are. We Could have completed the wave 5 which means we could see high highs, to possibly the 50% or 61 fib levels, but for now i am keeping the wave 4 narrative
Happy trading and god bless
I will also share how i came up with the elliot wave narrative
www.tradingview.com www.tradingview.com
When will it stop???? BULL OR BEAR??1.We are oversold on the 4hr
2. Bullish descending wedge forming
3.Expecting a small bounce to the $19.68
4.Expecting a rejection@ $19.68
5. Hard downward movement to wave 3 @ $15.77
5.Begin wave 4 to the 38% fib level @ $24.85 www.tradingview.com
TQQQ elliots wave TA A slight correction for wave 5 then continue to the down side, no major support on the 4 hr so im thinking TQQQ could go as far as $28.10
Possible Tradable Market BottomThe TQQQ options may be a good way to trade it.
The Nov 25 2022 Call option with Strike price $25.50
Last traded at $0.86. That's $86 cost per option and
your total risk.
Low risk trade for a possible nice reward.
Goodluck.
TQQQ at the close Well everything is going as predicted, i sold SQQQ at the close to manage risk and lock in profits, even though there is a high probability of going to the downside i'm not going to be greedy.
So looking ahead we are forming a head and shoulders on the 1hr time frame with the shoulder area being a high volume / support area ,$19.88-$19.29 as of right now the q's are selling off due to apple's earnings but there is a lot of time from now and tomorrow, things change and we need to make sure we change with them.
That being said if we break the support @$19.65 and retest i'll be jumping back into SQQQ , if we consolidate around that area with the obv moving to the upside there might be a long position there, keep in mind we are at the 61% fib level which is a critical psychological level of support
Another thing to look at is your tsv bars, they are reducing in size which means less sell volume
also your obv is starting to consolidate, no longer moving down which means buy volume is starting to increase with the possibility of a temporary reversal
Last thing wave 4 is usually the longest pullback so even if we get another bounce it could be short lived before going back to the downside. Still maintaining my bearish view but just wanted to share my thoughts on alternative scenario that could play out but unlikely
thanks god bless
SPOOKY OCTOBER!! Why i think we will see new lows! 1. So looking back on the chart when the MFI has hit over bought it has been a good time to short the market, in a downtrend when things become over bought it usually represents a good shorting opportunity
2. If you go back on our last leg down we hit a wave 4 @ the 38% fib level with a descending wedge breakout then dropped to new lows to wave 5 before rallying
3. We had obvious divergences on the MFI( started trending down as prices moved up) also on the tsv( your volume was decreasing)
4. I don't expect earnings to be any good this week and the market will react in a negative way, after earnings are done we should be priced in for the rest of the year, that being said i think november will be our rally month
This is just my opinion, now there is a bullish scenario to this, if we can manage to hold 19.50 support we can maybe see higher highs but as for now i see a lot of resistances,
Please if u have a different opinion i would love to hear it,
thanks
Happy trading and god bless
TQQQ final update, Everything to met on elliots wave for the last leg up, i think we will see the very least a retracement back to the 38% fib level, but keep a close eye for the next wave to develop to the downside, good luck traders
Trend is ur friendTrend is ur friend and theres still no buyers in the stockmarket only stupid americans and this bearmarket will probably end in 2048
TQQQ market swingMarket reversals like this tend to signal market bottoms. Only has happened 9 other times since 1983.
TQQQ weekly bearish hammer continuation wave 5 downtrendOrder SELL TQQQ NASDAQ.NMS Stop 18.29 LMT 18.29 will be automatically canceled at 20230401 01:00:00 EST
TQQQ weekly bearish hammer continuation wave 5 downtrend
Critical level for #TQQQWe are approaching a critical level for #TQQQ I think it might give us some temporary bounce 18.4 is level to watch next week
tqqq trade...wishful thinkingThis can lead to a short-term bottom... need bad earnings to drive the market down....with another 1.25% interest rate hike this year...
