My target for QQQ in the next week or two, sits right at the $500 mark (MINIMUM)…..new monthly candle hits charts on Monday. Some snippets of advice below. Have fun✌️
$Invesco QQQ Trust (QQQ.US)$Monthly major upport line sits at around 515, if it somehow gaps down big below 515 things could get crazy. Could get a retest of todays breakdown zone 524ish, but doubt it.
Trading really isnt that complicated, as you can see below, the most important things to do is always plot out support and resistance lines along with a few sets of fibb levels. Important to always look at weekly/monthly charts and the VWAP value within those time frames. Plot out both the near term “local” support/ resistance along with the macro time frame. Trading is ALL about consistency and repeating the same process over and over. Sorry, ive had a few drinks so bear with me here😅
You really need to learn 3-5 indicators; MACD, RSI, KDJ are a must. I also recommend using the WMSR and OBV indicators. I mean yea, this game is taking a dozen or more MOVING puzzle pieces and trying to put it all together. To some it may read overwhelming, but eventually it becomes second nature. Ive been trading for a while now, and only within the last 1/2 year do i FINALLY feel like im in cruise control. For tools, I recommend simply learning he basics such as the moving averages/EMAS along with the bollinger band/keltner channel.
An overlooked detail many people do not realize is using charts WITH ALL HOURS ON. When including AH & premarket, you can accurately see trendlines/support much better and able to anticipate trends breaking (like how I anticipated QQQ breaking before Monday AM). Also i believe you get a much more accurate reading of indicators with all hours on, especially the MACD.
PS - what a perfect way to end this week😅 There’s no doubt in my mind Wall Street has known about Trumps tariff announcement all week. Yesterdays drawdown was already baked into the charts. Im sure there is still a few out there that will comment “you just got lucky, had nothing to do with TA.” 😎
PYUN970IHaveChosen
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Ripper! As always thanks for the insight, and I fully concur with ALL HOURS ON and then just watch, pattern……..have a great day, time for a few myself!
PikaGod
RIPPER
OP
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as the weekend goes, it should be around 516 level according to weekend wall street, let’s check on the future tonight at 6 pm. I just got some qqq puts , just hoping for the best
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Buy n Die Together❤ :
PikaGod : my support sits at 516.3. if it breaks then it may trigger to go down to retest 500 line
RIPPER OP PikaGod : it may even gap down right over that level……not sure yet
PYUN970IHaveChosen : Ripper! As always thanks for the insight, and I fully concur with ALL HOURS ON and then just watch, pattern……..have a great day, time for a few myself!
JYs063 : does it mean 500 is a buying point ?
PikaGod RIPPER OP : as the weekend goes, it should be around 516 level according to weekend wall street, let’s check on the future tonight at 6 pm. I just got some qqq puts , just hoping for the best
RIPPER OP PikaGod : Safe to say tomorrow could be a complete bloodbath….yea expecting gap down into open.
likewise to you!
RIPPER OP JYs063 : i wouldnt be looking for a buying point at all…….at this moment in time atleast
RIPPER OP PikaGod : gapped down big time…..qqq probably at 507ish
RIPPER OP PikaGod : see where futures are at?
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