Upon further review of the charts, I have decided to close the QQQ short trade here at the 163.78 level after the first target was hit yesterday for a 7.1% profit. QQQ may be added as a long trade soon as well as another short trade, if & when the charts indicate objective entries.
QQQ daily Oct 30th
One alternative to closing out a QQQ or other $NDX short proxy here would be to set stop slightly above today’s high of 165.52 & let the position ride if holding out for the former T2 final target or more while manually or automatically trailing down stops to protect profits.
Also note that I am closing out the SOXS (semiconductor ETF) swing trade here as well with a separate post to follow asap.