QQQ Strong Resistance - Won't Break Through on the First Try
In this analysis of QQQ, we observe a potential bearish correction in progress after completing an impulsive move to the downside.
The setup aligns with Elliott Wave Theory, highlighting a corrective ABC structure forming.
Key Levels:
Short Zone: 533.01 - 535.54
Stop-Loss: 536.45 (above key Fibonacci extension at 1.618)
Target 1: 524.27 (Fibonacci retracement support)
Target 2: 516.16 (extension and structural support)
Strategy:
Short Entry: Within the short zone (533.01 - 535.54).
Stop-Loss: Set at 536.45 to manage risk.
Take Profit: Gradual exits at Target 1 (524.27) and Target 2 (516.16).
Context:
QQQ is showing signs of bearish momentum after a corrective wave. Fibonacci extensions and Elliott Wave structure suggest a continuation to the downside.
💡 Reminder: Always manage your risk and confirm signals with your strategy before entering trades.
#QQQ #TechnicalAnalysis #TradingSetup #ElliottWave #Fibonacci
The setup aligns with Elliott Wave Theory, highlighting a corrective ABC structure forming.
Key Levels:
Short Zone: 533.01 - 535.54
Stop-Loss: 536.45 (above key Fibonacci extension at 1.618)
Target 1: 524.27 (Fibonacci retracement support)
Target 2: 516.16 (extension and structural support)
Strategy:
Short Entry: Within the short zone (533.01 - 535.54).
Stop-Loss: Set at 536.45 to manage risk.
Take Profit: Gradual exits at Target 1 (524.27) and Target 2 (516.16).
Context:
QQQ is showing signs of bearish momentum after a corrective wave. Fibonacci extensions and Elliott Wave structure suggest a continuation to the downside.
💡 Reminder: Always manage your risk and confirm signals with your strategy before entering trades.
#QQQ #TechnicalAnalysis #TradingSetup #ElliottWave #Fibonacci
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.