Needle threading 101: Fading today’s pop for the subsequent 1.25% drop paid off nicely as QQQ & /NQ have now hit my initial preferred swing targets (April uptrend line) where a tradable bounce is likely & although I reversed (short to long) here, as per my previously shared trading plan, I am driving with one foot on the accelerator & the other hovering just above the brake in case that aforementioned potential bear flag continuation pattern on the /NQ 60-minute chart proves to be the catalyst for a continued move down that impulsively takes out the uptrend line & the nearby price support levels just below it. Bounce targets to follow soon. Updated 60-minute charts of QQQ & /NQ below.
QQQ 60m 2 July 18th
NQ 60m 2 July 18th