There will be two scalp opportunities in the morning based on historical Monday data that falls on FOMC week. Look for tight boxable action from 1115 to 130. Go take a long walk, read a book, call your mom. This action looks untradeable. A couple of scalping opportunities arise after 135 up til 200PM. With a small dip, and a resumed move into the close.
Some...
These high demands have previously proven to be difficult to achieve, and it is highly probable that the market will experience a rebound from these levels, unless there are any significant shifts in fundamental news that could alter the market's current direction.
since nvda beats their Er . we expected price to pull back to our pwl (40.42)and tunr it into a new support. our next rejection level should be the next 4 hr premium array (42.31) ..
beautiful everything play out as expected. price even break our our premium array without a consolidation . very great day finish the day with a 67% return . greatefull.. see you guys tnext day for a new tqq TA
37.77 is where we really expected price to bounce back but 37.97 represents a double bottom on our 4hr charts that can also become our liquidity grab zone on a lower time frame .. mss (38.37) should be use as trim level or use stop on quote to move Sl up and let this run to our 1st Premium array (38.90) final target
Keeping it simple
TQQQ Multi-time frame analysis
Daily chart – Long term
Pretty clean straight forward chart. In this one we can see the different stages of the market.
After topping out in Aug. ’18, price entered a “sideways” market between Aug.’18 – May’20. The “sideways” market was deemed an Accumulation stage after price broke upwards and entered Uptrend....
I hope this helps someone, i struggled a lot with structure mapping and it was one of the big reasons i was never profitable. I have learned a lot from this community and i feel like its my time to share something. If you wanna learn more in detail visit the "trading hub" on youtube. You wont regret it.
*Inducement = Pullback (Induces traders to buy in)...
TQQQ managed to break structure, keep in mind this is a minor structure so for now shorting is your high probability trade but its temporary considering the major structure has not been broken.
Tqqq has support around $43
If we get a bounce tomorrow look for $43.8 to stop the momentum upward.
I think in order to get above this price we need a pre market gap...
• Seasonality PRE ELECTION YEARS AUG 7th-12th (Avg return +.35% )
• SMC
Long term market structure: Bullish
Short Term market structure: Bearish
Bullish order block: $40.43
*Posted this last night but just realized it was created under privet*
Bearish order block: $42.57 and $42.33
Breaker Block (Strong High): $41.92
BULLISH CHOCH: $45.70
BEARISH CHOCH...
Markets are being supported by some key levels, for now it seems like we have some juice to move if we can move above resistance. Target on SPY approx. 410 range.
Same breakout from bullish parabolic pattern, channel consolidation, then breakout from channel to the downside. Retest bottom of the channel (support becomes resistance) and from here, predicting a move to the downside.
seasonality July 24th - Aug 3rd: -3.34% return
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Wednesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. We need to gap above $43.27...
On the 15 minute chart TQQQ took a dive down through some relative volume voids
shown on the volume profile into a double bottom also showing a transition from
high relative selling volume into some decent buying volume . I can conclude that TQQQ
is in early reversal and will head the other direction through the same volume void which
could allow for a rapid...
Seasonality July 24th - Aug 3rd: -3.34% return
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Tuesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. If we break above $44.27...
