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
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Yes, your right about QLD
SQQQ weekly
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