- Invesco's
QQQ
uptrend continues to remain valid, despite last weeks close in red ;
while its series of Higher Highs are now places of buyers interest due to price action retracements.
Price levels to continue acting as Uptrend Supports during Rising
Channel's uptrend resumption.
It would take a catastrophy to plunge the price of
QQQ
considering so many
supports below,
while price reversing below the last touch of broken
Trendline Resistance from ATH's seems 'impossible' from Fed's upcoming $USSIRY alone.
Yet, that is still to be seen.
Looking at Invesco
QQQ
from ATH,
a Change of Character was spotted on *W(tf).
Zooming on *3D & *D (tf) a Rising Channel pattern seems to be in place,
with its Resistance Trendline being respected from Price Action resulting
to a negative -2.6% drawdown rejection on the last 3D* candlestick print.
TRADE SAFE
*** Note that this is not Financial Advice !
Please do your own research and consult your own Financial Advisor
before considering partaking any trading activity based solely on this Idea .
QQQ
uptrend continues to remain valid, despite last weeks close in red ; while its series of Higher Highs are now places of buyers interest due to price action retracements.
Price levels to continue acting as Uptrend Supports during Rising
Channel's uptrend resumption.
It would take a catastrophy to plunge the price of
QQQ
considering so many supports below,
while price reversing below the last touch of broken
Trendline Resistance from ATH's seems 'impossible' from Fed's upcoming $USSIRY alone.
Yet, that is still to be seen.
Looking at Invesco
QQQ
from ATH, a Change of Character was spotted on *W(tf).
Zooming on *3D & *D (tf) a Rising Channel pattern seems to be in place,
with its Resistance Trendline being respected from Price Action resulting
to a negative -2.6% drawdown rejection on the last 3D* candlestick print.
TRADE SAFE
*** Note that this is not Financial Advice !
Please do your own research and consult your own Financial Advisor
before considering partaking any trading activity based solely on this Idea .
Comment:
Recent Support to be Held *D