QQQ | Bearish Scenario | End Target | $240 - $242 | Daily Chart
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I want to provide you bearish scenario with targets where you hedge and or exit if you are short using FIB. The target could differ depending on market scenarios, and it could 50% or 61.8%.
A. Today we had a bearish closing in the QQQ. The QQQ had an overextended move in the last six trading days of around 10%.
B. The first correction is 61.8% in the FIB; the confirmation for this move is on the 21 EMA. Around 4% of the current price. (Short)
C. We could expect a bounce at the levels of $244 or $245 to test 50% of the Fib retracement to test $250-250. (Hedge or Play bounce)
D. We complete the B-C move with a 1.618% retracement from the current bounce at $250 for a final target of $240, which will be around the 50 EMA. (Short)
Complete the cycle with D-C with a retracement of .50% at $247. (Play Bounce)
- I'll only provide excellent opportunities that you have a hedge; this means a reasonable risk and reward ratio
- I have a BA in finance and a good understanding of microeconomics
- I have five years in Technical Analysis, I love reading charts and won't provide you with shitty charts or different indicators every time
- I'll provide you with realistic targets and exits for a safe trade
I want to provide you bearish scenario with targets where you hedge and or exit if you are short using FIB. The target could differ depending on market scenarios, and it could 50% or 61.8%.
A. Today we had a bearish closing in the QQQ. The QQQ had an overextended move in the last six trading days of around 10%.
B. The first correction is 61.8% in the FIB; the confirmation for this move is on the 21 EMA. Around 4% of the current price. (Short)
C. We could expect a bounce at the levels of $244 or $245 to test 50% of the Fib retracement to test $250-250. (Hedge or Play bounce)
D. We complete the B-C move with a 1.618% retracement from the current bounce at $250 for a final target of $240, which will be around the 50 EMA. (Short)
Complete the cycle with D-C with a retracement of .50% at $247. (Play Bounce)