QQQ Triangle Break
I've been talking about this triangle on QQQ for a while now. Today we finally got the big break above. Stalling at the previous swing high for now. This could end up being a great long if it breaks $485 and retests. To the downside, I'm watching today's open price. I think the range should be about $480-$485 from here. Any breaks above or below should lead to more continuation.
Don't need to chase long up here and don't need to short into strength like this. I think it's important to remain patient and wait for the opportunities to present themselves. I don't see longing yesterday and holding overnight as a high probability play, but it would've worked great obviously. However, the best trades come after these sorts of moves when we get retests or fails.
Bias should now be long until proven otherwise.
Don't need to chase long up here and don't need to short into strength like this. I think it's important to remain patient and wait for the opportunities to present themselves. I don't see longing yesterday and holding overnight as a high probability play, but it would've worked great obviously. However, the best trades come after these sorts of moves when we get retests or fails.
Bias should now be long until proven otherwise.
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Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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