Nasdaq QQQ Testing Major Overhead Resistance
This is the bear's last hope. Nasdaq is testing very strong overhead resistance that goes back to January 2018.
If it's able to clear this resistance and use it as support, we may continue to see further upside. However, long term traders and institutions will likely see this as a great area to take profit.
I recommend trading on the 1 hour chart to see which side of the trend line price is going. For further confirmation, wait for a retest of the trend line before entering a trade.
If it's able to clear this resistance and use it as support, we may continue to see further upside. However, long term traders and institutions will likely see this as a great area to take profit.
I recommend trading on the 1 hour chart to see which side of the trend line price is going. For further confirmation, wait for a retest of the trend line before entering a trade.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
