QQQ - Intraday Setup April 16 2025

QQQ Intraday Setup
April 16 2025

Decision making - 15minutes time frame

Short trade scenario -1
Market Takes resistance = 455.95
Stop loss = 456
Short trade get initiated
1st Target = 449.0 (profit booking)
2nd target = 442.58

Trade setup explained:
Market made a high of 455.95 on April 11 2025.
High has sustained above 455.95 in next 2 trading sessions
Market has opened today below 455.95. Hence this support zone is now intraday resistance zone.

Long trade scenario-1
Market Takes Support = 442.58
Long trade gets initiated
Stop loss = 441.20
1st Target 450.85 (Profit booking)
2nd Target = 455.95

Trade setup explained:
Market made a high of 442.58 on April 7 2025.
Market has sustained above 455.95 in next 6 trading sessions until today and hence becomes intraday support.

Long trade scenario-2
Market opens gap down and sustains above = 450.85
Long trade gets initiated
Stop loss = 447.19
1st Target 452.64
2nd Target = 455.95 (Profit booking)

Trade setup explained:
Market has a downward trend on April 10th and creates an intraday swing high of 450.85. The swing high of a downward trending day becomes 1st stage of resistance when markets are close to this price.

Disclaimer: I am not a registered analyst. The above information is only for educational purpose based on my years of experience. Please consult a financial advisor before investing.