$QQQ Rectangle Pattern on hourly

QQQ Rectangle Pattern on hourly


"A rectangle is a pattern that occurs on price charts. A rectangle is formed when the price reaches the same horizontal support and resistance levels multiple times. The price is confined to moving between the two horizontal levels, creating a rectangle. The concept of a rectangle is similar to a Darvas Box."


Estimating a morning pump near as it is not far from resistance and bounce back to the downside.

Please note with the indicator i am using, i take the target as an approximation and don't relay on it as the targets are not always viable and it is something i am testing.

What are your thoughts?
Thanks,
Kelly