yes has that look - but I always tease you about using triple
leveraged ETF's on long time frames doesn't make a lot of sense
because they degrade.
you should be able to see the inverse pattern of that SQQQ
H&S like an Inv H&S if you plot the QQQ on the same time
frame - but you don't, see image showing both. Again it's because
SQQQ degrades, I don't think it makes a lot of sense to draw
trendlines and patterns on triple leveraged ETF's charts more than
maybe 6 months. Best to use the indexes or 1X ETF's on longer
time frames to see the true patterns
for the QQQ you have a symmetry break so higher low potential
but it's not an Inv H&S the opposite of SQQQ
Posted by tmbrook1 on 12th of Sep 2022 at 07:00 pm
Matt do the triple leveraged ETFs degrade because of fees
charged or is there something else involved. If you think the
market is headed down like we do, why not just stay in SPXU and
when the systems go long, take the long trades.
Thoughts.
they do some - where the degradation occurs is when you have a
big market volatility and sell off. When the market is just ho hum
they are fine. SSO I find is pretty good, holding it even up for a
year - it too is prone to some degradation under those washout sell
offs.
Yes, your right about QLD not having an inverse h\s.
But the reasoning goes that if one can identify a high
probability pattern like SQQQ has, then you would look to buy the
inverse (QLD) in the same time period irregardless. Simple
logic. I would say that rarely do ETF pairs have mirror
images. And since we are in a trading, not trending, environment
degradation isn't a factor so much.
I always check multiple time frames, especially the weekly
because you can see the bigger picture better. Now the
reasoning is that QLD has room to run while the SQQQ h\s
plays out and one would stay long. Been seeing mention about
a short squeeze so we will see.
In this 120 minute what I call a TSI chart, you can see there is
mucho positive divergence, cross up, and psar buy signals. So
on whole it stll looks positive. Not to say there can't
be pullbacks in the trend though. In fact there's a good
chance there might be one early next week.
On top of that, it just looks purdy
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
SQQQ weekly
Posted by roger on 7th of Sep 2022 at 09:08 am
SQQQ weekly
SQQQ weekly: textbook H\S pattern
Posted by roger on 10th of Sep 2022 at 11:19 am
SQQQ weekly: textbook H\S pattern
yes has that look -
Posted by matt on 10th of Sep 2022 at 04:25 pm
yes has that look - but I always tease you about using triple leveraged ETF's on long time frames doesn't make a lot of sense because they degrade.
you should be able to see the inverse pattern of that SQQQ H&S like an Inv H&S if you plot the QQQ on the same time frame - but you don't, see image showing both. Again it's because SQQQ degrades, I don't think it makes a lot of sense to draw trendlines and patterns on triple leveraged ETF's charts more than maybe 6 months. Best to use the indexes or 1X ETF's on longer time frames to see the true patterns
for the QQQ you have a symmetry break so higher low potential but it's not an Inv H&S the opposite of SQQQ
Matt do the triple leveraged
Posted by tmbrook1 on 12th of Sep 2022 at 07:00 pm
Matt do the triple leveraged ETFs degrade because of fees charged or is there something else involved. If you think the market is headed down like we do, why not just stay in SPXU and when the systems go long, take the long trades. Thoughts.
they do some - where
Posted by matt on 12th of Sep 2022 at 07:52 pm
they do some - where the degradation occurs is when you have a big market volatility and sell off. When the market is just ho hum they are fine. SSO I find is pretty good, holding it even up for a year - it too is prone to some degradation under those washout sell offs.
Thanks Matt
Posted by tmbrook1 on 12th of Sep 2022 at 08:14 pm
Thanks Matt
Yes, your right about QLD
Posted by roger on 10th of Sep 2022 at 05:18 pm
Yes, your right about QLD not having an inverse h\s. But the reasoning goes that if one can identify a high probability pattern like SQQQ has, then you would look to buy the inverse (QLD) in the same time period irregardless. Simple logic. I would say that rarely do ETF pairs have mirror images. And since we are in a trading, not trending, environment degradation isn't a factor so much.
I always check multiple time frames, especially the weekly because you can see the bigger picture better. Now the reasoning is that QLD has room to run while the SQQQ h\s plays out and one would stay long. Been seeing mention about a short squeeze so we will see.
Who is predicting a short
Posted by bpozdoll1717 on 10th of Sep 2022 at 10:48 pm
Who is predicting a short squeeze?
In this 120 minute what
Posted by roger on 10th of Sep 2022 at 05:45 pm
In this 120 minute what I call a TSI chart, you can see there is mucho positive divergence, cross up, and psar buy signals. So on whole it stll looks positive. Not to say there can't be pullbacks in the trend though. In fact there's a good chance there might be one early next week.
On top of that, it just looks purdy