Right now, QQQ is resting right at wedge support + pivot, which is often where the next directional move starts
Gap up reclaims $578 at open with volume; ideally, a green candle with little/no lower wick (shows buyers controlled the whole session)
Gap down or fail $577 at open; ideally, opens & trades below $576 (prevents fake breakdowns) with volume expansion on the red candle (confirms sellers are pressing) - bonus if price retests $577 & fails (strong confirmation of breakdown)
- Price is pressing on the lower wedge line but not breaking with conviction
- Volume (white line) is tapering, which means the “breakdown” pressure hasn’t been confirmed
- Wedges love fake breakdowns - only act when price + volume confirm together
Gap up reclaims $578 at open with volume; ideally, a green candle with little/no lower wick (shows buyers controlled the whole session)
- $582 to ~$586 AVWAP ($580C/$582C scalp, $585C swing)
- Invalid back under ~$577
Gap down or fail $577 at open; ideally, opens & trades below $576 (prevents fake breakdowns) with volume expansion on the red candle (confirms sellers are pressing) - bonus if price retests $577 & fails (strong confirmation of breakdown)
- $572, then ~$569 to ~$568 ($577P scalp, $575P main, $570P runner)
- Invalid if price reclaims & holds above 579
I am not a licensed professional & these posts are for informational purposes only, not financial advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional & these posts are for informational purposes only, not financial advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.