15m 12EMA Perfect Guide For Both Long & Short QQQ & SPY
Last week i mentioned the 15m 12 EMA guide for holding onto profits for both SPY and QQQ which we bounced off again this morning. After we broke the 15m 12EMA today i took a day trade on SQQQ and sold it close to the end of the day because we are still in a strong hourly uptrend and I do not want to hold overnight playing countertrend.
Notes:
- still need to change 4h and daily trend to uptrend, currently in neutral trend
- Even thought i shorted today im still leaning bullish on SPX and NASDAQ for longer time frame in 4h / daily and weekly. until price action tells me otherwise so would likely be looking for another TQQQ entry.
- Powell speaking this week
- we shot straight up 5.5% on QQQ into resistance a pull back for consolidation was very likely
Notes:
- still need to change 4h and daily trend to uptrend, currently in neutral trend
- Even thought i shorted today im still leaning bullish on SPX and NASDAQ for longer time frame in 4h / daily and weekly. until price action tells me otherwise so would likely be looking for another TQQQ entry.
- Powell speaking this week
- we shot straight up 5.5% on QQQ into resistance a pull back for consolidation was very likely