Comments on: /NQ & QQQ 60-Minute Charts 1-3-23

By: rsotc

rsotc — Tue, 03 Jan 2023 15:39:23 +0000

In reply to rsotc. /NQ objective long entry here at the intersecting uptrend & downtrend lines (triangle apex), zoomed down to a 10-min time frame below. One could use a tight stop somewhat below current levels or a slightly wider stop below the recent lows.

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 03 Jan 2023 15:25:22 +0000

In reply to rsotc. AAPL now backtesting that trendline while dipping below last week's low. Potential bear-trap now if it can can hold this 125.50?

By: rsotc

rsotc — Tue, 03 Jan 2023 15:02:50 +0000

In reply to Jeff Vandenburgh. AAPL 130.50 aligns with the 11175ish resistance on /NQ, both of which need to be taken out to kick-start a rally. Although AAPL failed on the 130.50ish breakout right out of the gate so far, it is still above the 60-minute bullish falling wedge pattern that it broke out above last week.

By: ajp17

ajp17 — Tue, 03 Jan 2023 15:01:49 +0000

In reply to rsotc. There's negative divergence on the 1h on NQ. No concerns about that?

By: rsotc

rsotc — Tue, 03 Jan 2023 14:58:32 +0000

/NQ rejected off the 2nd run at the 11175ish resistance after the opening bell, no sell signal yet although a pullback to this 11044 & minor TL support as well as a deeper pullback to the primary uptrend line off the lows would also offer an objective long entry with stops below the recent lows

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 03 Jan 2023 14:57:52 +0000

With AAPL unable to hold above 130, and TSLA also nose-diving, it looks like the couple of ticks above NQ 11175 could have been a bull-trap?