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Tqqqshort

TQQQ I Next long opportunity - following correction from 74.87Welcome back! Let me know your thoughts in the comments! ** TQQQ Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
NASDAQ:TQQQLong
by BKTradingAcademy
TQQQ Technical Analysis - Breakout and Key LevelsTechnical Breakout: On November 13, 2023, NASDAQ:TQQQ experienced a significant structural shift with the breach of the $40 resistance level. The subsequent bull run in the tech sector propelled NASDAQ:TQQQ to a peak of $61.22 on February 12, 2024. Fibonacci Retracement: After reaching the peak of $61.22 on February 12, 2024, NASDAQ:TQQQ made an attempt to pull back, targeting the 0.618 Fibonacci level at $53.18. However, the retracement was not sustained, and NASDAQ:TQQQ returned to the previous high of $61.22 on February 23rd. Current Situation: As we await the market open on Monday, NASDAQ:TQQQ stands at a crucial juncture following the recent retest of $61.22. RSI Divergence: Since January 24th, we've observed RSI divergence, indicating a discrepancy between the price action and the strength of the trend. This could be a crucial signal, suggesting a potential shift in momentum that traders should closely monitor. Upcoming Events : This week brings important economic indicators: Monday: Japan Inflation Rate Tuesday: GfK Consumer Confidence and USA Durable Goods Orders Wednesday: USA GDP Thursday: USA PCE and Personal Spending Friday: ISM Manufacturing Market Expectations: Anticipations are focused on the USA GDP, expected to perform worse than forecasted . This could influence market sentiment and potentially impact NASDAQ:TQQQ 's performance. Forecast: Given the current technical setup, RSI divergence and the upcoming economic events, there is a likelihood that NASDAQ:TQQQ could move towards the 0.5 Fibonacci level of $50.69 by Friday, March 1st. Traders should closely monitor developments and be prepared for potential volatility. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own research and consider risk factors before making any investment decisions.
NASDAQ:TQQQShort
by mackmackeyy
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