The QQQ (Nasdaq 100) short swing trade entered on the backtest of the downtrend line on Aug 22nd has hit the first price target (T1) followed by the typical reaction off the initial tag, so far. Previous & updated 60-minute charts below.
QQQ 60m Aug 22nd
QQQ 60m Aug 25th
QQQ 60m Sept 2nd
I’ve added an objective re-entry zone for active traders that covered and/or reversed to long in order to game the bounce off this initial tag of T1 on the updated (last) 60-minute chart above, which runs from current levels up to the top of today’s gap.