Top 5 Weekly Trade Ideas #4 - QQQ Supply Short

2024年10月22日

This is a countertrend idea, but I think this supply zone above has a high probability of producing at least one rejection on the first test. If it doesn't then we're almost surely going to a new ATH I'd say.

I'll look for shorts at supply depending on what VX is doing at the time. Stop above $499, targeting $479. You could also wait for this channel to break to the downside before shorting for more confirmation and maybe get a retest.

2024年10月23日

註釋

Perfect supply rejection for QQQ. Trying to hold last week's lows now, final target is still $479, but I'd be scaling out of puts after a move like that.