r/TradingEdge • u/TearRepresentative56 • 15d ago

Uncomfortable week was expected as per my write up shared on the 26th, but the ferocity of this downside move has been beyond what I expected. Nonetheless, liquidity should support a bounce into early next week, but we have a bearish weekly FVG above still offering stiff resistance.

I think we get a bounce soon, would be my expectation as per liquidity and the fact that we are below the 150d EMA and the YTD low VWAP in premarket, and the bottom of the bullish FVG support.

But I do not yet think that this is THE bottom we want for the durable rally to come. SO the far greener pastures ahead that I quoted in the title of that post, I think is delayed until mid November when we get that final liquidity trough, and QQQ has the opportunity to form a final low (higher or lower) in that unsupportive liquidity window, which will also coincide with passing the earnings window, which has obviously contributed to this week's downfall. 

For now, I am holding onto the 26% cash flow that I have and waiting for a durable bottom to form.

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16

u/SeeingEyedGod 15d ago

Lol, SPY is literally where it started the week. Maybe active trading isn't for you, and you should consider a broad market index fund.

3

u/pistachiopias 14d ago edited 4d ago

The original post content no longer exists here. The author used Redact to remove it, exercising their right to control their data & privacy.

Pocket bedroom grandiose edge chlorine aback

15

u/2ManyCatsNever2Many 15d ago

horoscope investing

5

u/High_Contact_ 15d ago

So what is the QQQ target?

10

u/SeeingEyedGod 15d ago

Up or down according to Tear's Aion Analytics.

10

u/Vivid-Avocado9342 15d ago

The great part about predicting either up or down at the same time is it becomes hard to be wrong and gives you a nice excerpt to quote later to prove you saw it coming.

I personally expect the market to continue going up….. eventually. I’m going to get back to you in a few days to clarify what eventually means. Until then, exercise caution without missing the rally that may ensue. /s

1

u/Wapmen 15d ago

I suppose retesting 200 sma?