DESCRIPTION: In the chart above I have provided a macro analysis of QQQ.
*IMPORTANT: Aside from SUPPLY & DEMAND POCKETS the main thing to consider is the distinct pattern we seem to have been following for the past 3 falls after rallies. Where PRICE ACTION seems to create this hook like formation before CAPITULATION takes place.
POINTS:
1. QQQ exhibits a DOWNWARD TREND on the 16Hour Timeframe.
2. Deviation of 35 POINTS TOTAL JUSTIFIES SUPPLY & DEMAND POCKET PLACEMENT.
3. Estimation of Days for upcoming drop was taken by using a mean from last three rallies and falls of 76, 79 & 58 DAYS = 71 DAYS.
4. Depth of DROP was also estimated with a mean average that came out to roughly 25%.
5. MACD IS ALSO IN CONGRUENCE WITH CURRENT CHART PATTERNS & MACD LEVELS ARE CORRECTLY POSITIONED FOR MORE DOWNSIDE.
BULLISH SCENARIO #1: We come to see a continuation of current channel & commit to sideways momentum above 260 eventually breaking past 295.
BEARISH SCENARIO #2: If hook pattern is to expire reliable we can surely bet on enough downside that will send us below 260 and onto 225 as a final destination that can serve as a more probable MARKET BOTTOM.
QQQ
TQQQ
SQQQ
*IMPORTANT: Aside from SUPPLY & DEMAND POCKETS the main thing to consider is the distinct pattern we seem to have been following for the past 3 falls after rallies. Where PRICE ACTION seems to create this hook like formation before CAPITULATION takes place.
POINTS:
1. QQQ exhibits a DOWNWARD TREND on the 16Hour Timeframe.
2. Deviation of 35 POINTS TOTAL JUSTIFIES SUPPLY & DEMAND POCKET PLACEMENT.
3. Estimation of Days for upcoming drop was taken by using a mean from last three rallies and falls of 76, 79 & 58 DAYS = 71 DAYS.
4. Depth of DROP was also estimated with a mean average that came out to roughly 25%.
5. MACD IS ALSO IN CONGRUENCE WITH CURRENT CHART PATTERNS & MACD LEVELS ARE CORRECTLY POSITIONED FOR MORE DOWNSIDE.
BULLISH SCENARIO #1: We come to see a continuation of current channel & commit to sideways momentum above 260 eventually breaking past 295.
BEARISH SCENARIO #2: If hook pattern is to expire reliable we can surely bet on enough downside that will send us below 260 and onto 225 as a final destination that can serve as a more probable MARKET BOTTOM.
QQQTQQQSQQQ
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.